Because BTC isn't a real currency yet. And thus the confidence goes down and up, as people are unsure if it's gonna change the world or we gonna forget about it a year from now.
What in your opinion is required for somthing to be called "a real currency"? |
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I've figured out the secret!
First step: announce you're selling a way to double your Bitcoins
Second step: make a bet your way works.
Third step: tell the secret.
4th step: win the bet and now you own double the amount you put in the bet, proving your system works!
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The price went down 'cause people tried to sell too much too soon/too fast or for too cheap.
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The main reason it takes a long time is that that QT client does all the security checks on the the history instead of just trusting other people on the network checked the stuff before sending to you. There are some clients that boot up much faster, but it's because they skip most of the checks; that is ok as long as most people you connect to did the checks right, or received the info from someone that did etc.
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Unlikely doesn't mean impossible. It can happen, but odds are it won't. It's like flipping a coin and having it rest on it's edge, but even less likely; the odds are so low that you can say it is "impossible" and only the more pedantic will correct you.
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Not a smart question to answer unless you're sitting behind a firewall that can keep Mitnick out.
Any question is smart! We are the answer for after all we are in the noob section! No, he meant that it's not smart to answer that question; as in "I plea the fifth". |
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I got more than some people, but definitly not enough for me to feel comfortable with.
"They" can probably figure out how much i have without my assistance, but i don't wanna make it too easy.
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Go for broke!  How would one get those bumps on the head? Silicon or titanium implants, or somtimes it's some sort of porous material with some substance that stimulates the body to grow bone on it. |
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Hm, o Mercado Bitcoin não tinha fechado pq foi hackeado e não tinha mais dinheiro pra pagar as pessoas? Ou eu to confundindo com algum outro site? (pra falar a verdade, não tenho estado muito por dentro das coisas ultimamente...)
Esse comentario foi cheio de veneno Q nada! Só estava confuso pq a ultima coisa que tinha ouvido falar sobre akele site era que ele tinha fechado. |
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And besides, long term trend is still upwards.
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Oh, it was a question...
Hm...ok, here's a possibility: have you been sleeping well? Sleep deprivation can mess with your emotions big time...
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Personally, for me it's like any other type of art, regardless of the medium, the contents make all the difference.
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If you are going to go down the route of controlling the amount of units in circulation you could go nutz with it ....
Hayek talked about an ideal automated regulator that kept the currency value stable with a basket of goods (gold, oil, wheat, milk, meat, what-have-you, etc) just the usual stuff but the mechanisms he proposed could only be done with something like modern digital currencies that we now are experimenting with ...
... the automated algorithm would have as it's goals the currency's stable value but in order to achieve these targets it would automatically buy currency on the market if the value was dropping below target but here's the kicker, imho, if the currency was becoming over-valued then the system would automatically credit all existing accounts on a pro-rata basis to put more currency supply into circulation, i.e., like stock-holder dividends.
Of course, it would need to be something quite sophisticated in the way of a control algorithm to achieve price stability, figuring out necessary time-constants for the system and etc, but not impossible with a modern multi-variate adaptive controllers I don't think (fuzzy logic or neural net may also be options).
The key here is that to encourage/speed adoption there is an incentive to hold larger account holdings so that as demand for the currency were to increase as it's use spread, then currency holders would be rewarded with more numbers in their accounts. It is, in effect, the same thing that bitcoin causes when demand rises and it's value increases (in the local unit of account) but it is monetised in a different way such that the current holders see a constant value of the unit but they get more units ... same net effect, different mechanism. The currency inflates at the necessary rate to keep the value constant against the chosen basket of market goods/services but the inflation is spread out EQUALLY to ALL present currency holders.
NB: I'm pretty sure that Open Transactions can do all this with it's current functionality. And a few added 'lock 'n leave' controller algos that can be unleashed and keys destroyed so that the tamper-proof machine has control.
But what would the system buy your money with? And who would be sending you the payment? |
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The thing is, where would you get the exchange rate from? And what would prevent people from charging more than 1 USD for 1 virtual dollar when there isn't enough supply to cover the demand?
Good point. Perhaps compute an average from the main BTC exchanges? The created arbitrage opportunity should also make their quotes equal, theoretically. Regarding the supply, it would be unlimited. What do you mean "created arbitrage opportunity"? People can already buy Bitcoins on cheaper exchanges and sell where they are higher priced... And how would the supply be unlimited if not everyone is selling? |
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Btw, are you restricting this to accounts created before this thread was originally posted to avoid people creating new accounts to artificially increase the odds in their favor?
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TiagoTiago
1AzFUruA3u7mtWCzbuwLEy27jWo8Gxwqze
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TiagoTiago 'Grats on your profits! And thanx for sharing a bit of it with the community  |
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Hm, o Mercado Bitcoin não tinha fechado pq foi hackeado e não tinha mais dinheiro pra pagar as pessoas? Ou eu to confundindo com algum outro site? (pra falar a verdade, não tenho estado muito por dentro das coisas ultimamente...)
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If it was a test, it's your fault for risking so much money on somthing you wasn't sure would work. By the sound of it, it seems you tried canceling your withdrawn when it was already too late, and yet MtGox actually offered to give you free money to help reduce the blow but you passed on the offer.
But if the other posters here are close to the truth, then either you're just a liar, or a troll with lots of money to spare...
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The thing is, where would you get the exchange rate from? And what would prevent people from charging more than 1 USD for 1 virtual dollar when there isn't enough supply to cover the demand?
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