I think that territory is no more a requisite of sovereignty, like precious metals are no more a requisite of money. If you have to set up a known permanent base in any physical place, you are an easy target.
We have to be sovereign individuals with sovereign money from the cyberspace.
Hm, that has some serious problems, the first of which is your physical body exists in physical space. Get rid of the physical body and it's no longer a problem. They can hit your physical body only if they know your name (that is why we are assigned names). But sometimes, especially in the cyberspace we can be anonymous (which should be the basic of a new paranoid religion in my view).
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I think that territory is no more a requisite of sovereignty, like precious metals are no more a requisite of money. If you have to set up a known permanent base in any physical place, you are an easy target.
We have to be sovereign individuals with sovereign money from the cyberspace.
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What would happen if one of those Third world countries based their currency on bitcoin?
Or how about a Virtual On-line Republic with Bitcoin as their Currency?
Just a though
Awesome idea. Let's establish a virtual libertarian sovereign cyberspace (I recommend to have a fake religion too, since cults are endowed special freedoms all over the western world). The final objective should be to establish legal residence there, and release valid passports.
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I am still waiting for a file host who PAYS uploaders in bitcoins. I think that would pump up the pir8 scene 10X.
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Yes: price depends on demand and difficulty depends on price, but also: demand depends on price: if the price manage to increase for a while, or at least stops dropping, you may expect more investment/speculative demand -and even the opposite applies.
Expectations on future price play a special role on miners (and even power bills who will arrive in the next future): many may continue to mine for a while for insignificant profits, hoping for better times by further increases of the BTC price, but after a while if nothing changes many miners (me included) will go looking for s.t. better to do with their hardware, electricity and time when they lose any hope for better returns.
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71% here is starting to be wrong. Here's the poll result at the moment that I am writing (when BTC are down at 13.90 USD):
Question: What do you expect BTC/USD prices to do in the next 4 weeks? Up 15 (71.4%) Same as now 2 (9.5%) Down 3 (14.3%) I don't know 1 (4.8%) Total Voters: 21
I just feel pain, having bought at 19, thanks even to the perma-bulls here who trolled the contrarians.
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I would be happy with a cheap and reliable service to convert directly BTC to gold and silver on Goldmoney.
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If you consider the chances of hardware failure, data corruption, user mistakes, and the fact that the wallet use to be hidden somewhere in the system partition (at least make a portable client, so you know where your wallet is!), I think they are biggest threats than viruses.
I did setup a redundant automatic encrypted backup of my wallets in the cloud (on several accounts on live and gmail space) using Cobian backup and Gladinet cloud desktop (both freeware) and I would recommend to anyone to do s.t. like that.
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I suggest Apmex.com or any other gold and silver shop. I would love trading BTC on Goldmoney.com too.
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This cause the immediate crash and closing of Phoenix miner 1.50 for me, so I'm reverting to your previous patch. Donation sent.
update: it was my -f flag. Without it, it now works.
BTW: How do you get accurate measures of your Mhs??? My Phoenix miner oscillates between 170 and 190 Mhs.
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I don't have a benchmark, but according phoenix miner I passed from about 160Mhs to 180+ using your patch with my 5770. Good work! Many thanks
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I hate to be mean, but please do more research before posting questions. Do you really think that you discovered a flaw in the system overlooked by everyone else here when you understand so little about how things work?
I do research even asking questions. It is easy and effective. I hope to never discover any flaw since I invested 20% of my speculative capital in BTC (at 19USD). I was just wondering about an incentives /economic aspect, not really technical.
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just wondering, since mined BTC "serves as an incentive for the nodes to spend resources hashing the blocks and thus secure the network against double spending."
(the same problem may happen in case mining will become unprofitable) Any idea? Is a system designed for self-destruction?
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I feel we're going to pay a pizza ten grands BTC again soon. Even if it seems that there is much further to drop, I am not selling my BTCs bought at 19.xx USD each for anything less that I paid it ![Angry](https://bitcointalk.org/Smileys/default/angry.gif) ... even if I will have to wait a couple of years or more to do it. Definitely I will stop mining if it drops below 10 USD.
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In the meanwhile, it would be wise NOT to leave your coins in the exchange longer than necessary.
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Strange: everyone seems to get around 200 Mhsish or more with their 5770, but mine (overclocked at 900) does not go beyond 178-180 Mhs with Phoenix miner, patched phatk, using this script: -k phatk DEVICE=0 AGGRESSION=6 VECTORS WORKSIZE=128 BFI_INT FASTLOOP=false.
Any advice? (More aggression does not increase much the performance and it hogs too much my puter, while at 6 it stays fairly responsive as I need.)
BTW: with this setup temp is at 75-76 C. Should I change termal paste/ increase ventilation, or that's fine?
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![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Let me see: someone feels guilty of not paying taxes on Bitcoin? This is beyond ridicolous. What's the whole point of creating an anarchist cryptogeek currency? To go kissing Uncle Scam's ass once again? Puh-leeaze! (Feel free to confess your torts to the IRS if that will make you feel better, though). About the "protection" of the law, it's not intended for you. That should be clear at this point.
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Exactly, this except make it www.pecunix.com instead of GoldMoney. GoldMoney demands all users mail them certified ID documents and utility bills as address proof to them, whereas Pecunix does not and it's more secure in my opinion. Buy 4.8 million USD worth of Pecunix or whatever amount, and then set up a website offering instant exchange between BTC and pecunix at whatever rate you like. Now you've "backed" 4.8M USD worth of BTC with gold. I see I have to be more clear: 1. Only the business owner should open an account on Goldmoney, Pecunix, or whatever (I like Bullionvault too. Has lower fees than Goldmoney). He will then use that single account to execute all the trades requested by his clients. Of course, maintaining securely the accounts would be exclusive responsibility of the business owner. 2. Since such trades are almost instantaneous, there is no need at all to have a stash of gold or dollars in advance. Once the business owner/manager receive let's say BTCs from a client to buy gold, he will convert them to dollars and execute the order on Goldmoney, that's all.
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I think I have a better idea along these lines: Offer a service to convert back an forth BTC to/from gold or silver using a Goldmoney account.For the users of this service, the advantage is that they would not need to open a Goldmoney account themselves (which require sending to Goldmoney your personal documents and bank account data), so they could convert instantaneously their BTC to gold or silver and viceversa maintaining their privacy and anonymity, so avoiding that the evil Gov't know anything about their trades, and without converting previously their BTC to USD (as operating directly with Goldmoney would require). You could charge a small fee (let's say around 0.5-1% per trade, plus something else to pay for the montly storage fee on Goldmoney), and everyone would be happy. The drawback is that you would need a very good reputation so that someone will trust to keep their ASSets in your hands not fearing to be Goxed. Not to speak of all the technicalities of the programming and securing the website about which I know nuthin. Feel free to use my Goldmoney referral code if you like the idea: http://goldmoney.com?gmrefcode=goldsilverageI would personally invest in a project like this.
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