A&M? I suggest these tables. He should see the key significance. | Fiat | Gold | Bitcoin | Ideal Unit | Decimal Shift: | < | > | > | Gold/Bitcoin | Divisibility: | Unlimited | Physical Limits | Unlimited | Fiat/Bitcoin | LT Price Stability: | Yes | No | Yes | Fiat/Bitcoin | Needs Infrastructure: | Yes | No | Yes | Gold | Supply Mgmt: | Central Banks | Producers | Participants | Bitcoin? |
The infrastructure needed depends on what you require as basic functionality. I can't buy design work from a guy in Hawaii for gold without a hell of a lot of infrastructure. 99.9999% of people are out of my reach in regards to trading using gold without any infrastructure. Granted in the 0 infrastructure word gold still exists and Bitcoin kind of doesn't anymore. But for anything resembling the real world, Bitcoin infrastructure grows to exactly where you want it nearly instantly "Hey guy, download Bitcoin". edit: I see you already said most of this.
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Only problem is cashing in/out from bitcoin
Or taking out half of what you've put in. With such price fluctuation, Bitcoin is far from being ready as a store of value. maybe up, maybe down maybe stick it in my pants / \ / | \ hard choice (not really)
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5 million yen doesn't buy what it used to, mtgoxlive is shit.
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My understanding is that those BIPs can lead to miners accidentally making blocks that won't be accepted. Users don't need to get a new version.
Even once multisig transactions are getting put into blocks??? I'm confused because you are sorta telling me it goes both ways, users can reject blocks found under invalid rules but they also wont reject blocks with multisig transactions even if they aren't updated.. I'm totally getting out of my depth here, but I think it's all good because multi-sig has been built in all along. Your client might not be able to fully understand the requirements to spend those tx, but it doesn't matter, it can see that the inputs are greater than or equal to outputs. edit: now I'm getting lost, won't users need to know if the right criteria has been met in order to tell if that tx can be a valid input in a later tx? Bitcoin? How does it work?
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1st: this means that all merchants and users need to be downloading the blockchain which I thought there was a consensus that eventually this isn't going to be possible anymore which again leads to centralization..
2nd: wouldn't this mean that when either BIP12, 16 or 17 get rolled out those clients that wont update will essentially ignore the new transactions so Gavin has to get the support from every single user, not just the majority of the miners in order to successfully implement that change?
It would be sufficient to get all headers and then fill in with only the full blocks that you actually need. The implementation might be a little bit complicated, but you won't have to trust your source still, you'll be able to check that the block has the required header, and so know that it fits. (I'm not 100% on this actually, someone please confirm.) My understanding is that those BIPs can lead to miners accidentally making blocks that won't be accepted. Users don't need to get a new version.
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Well as long as bitcoinica doesn't trade on the real market their is no way it can influence it. It is a closed of system and the price is only based on the mtgox price. If I sell 100BTC at bitcoinica at a leverage of 10. This will change noting at the value of the price on bitcoinica because it takes it prices of mtgox and these prices didn't change. At the end it doesn't matter what happens to my money on bitcionica. It's a closed of system.
So it's a black hole for demand somehow, but not supply? It's obviously not a 'closed system' either. It doesn't have to pass everything somewhere else to not be closed, it has to pass anything ever to not be closed.
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Depending on what rule changes you are talking about it doesn't matter if 95% of miners choose to switch to say 50BTC reward forever. The power is with the merchants to reject the false coins. Please explain to me how they can do that? They just keep running the code they've been running. It will reject the 'bad' blockchain being produced by 95% of the miners, and accept the 'good' chain being produced by the other 5%. I thought the merchants only sent and received transactions and had nothing to do with the blockchain unless they were miners themselves? EDIT: Also my initial argument was that due to how the system is designed it will eventually lead to a really small minority control 100% of miners and when the switch happens it would be 100% of miners not 95%, what then? Obviously your own non-mining client can tell what is and isn't an actual Bitcoin transaction, that's how you know you've been paid even before a tx gets in a block. The tx has to have a history that leads back to a valid generation, has to be signed correctly etc. Yes I understand. They check the blockchain.. But how can they tell which blocks in the chain are legitimate? If the small minority of miners changes to new rules unanimously, there wont be a fork and everyone will be forced to use the same longest blockchain now being generated under new rules. So how then does a client reject a transaction that is in the blockchain it uses I ask? If I passed you a block in which I awarded myself a 100BTC reward for generation, you're client would just be like, "Lol, no. I don't care who else accepts that, I don't". Same thing if someone tries to give themselves 50BTC for block 210000.
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Depending on what rule changes you are talking about it doesn't matter if 95% of miners choose to switch to say 50BTC reward forever. The power is with the merchants to reject the false coins. Please explain to me how they can do that? They just keep running the code they've been running. It will reject the 'bad' blockchain being produced by 95% of the miners, and accept the 'good' chain being produced by the other 5%. I thought the merchants only sent and received transactions and had nothing to do with the blockchain unless they were miners themselves? EDIT: Also my initial argument was that due to how the system is designed it will eventually lead to a really small minority control 100% of miners and when the switch happens it would be 100% of miners not 95%, what then? Obviously your own non-mining client can tell what is and isn't an actual Bitcoin transaction, that's how you know you've been paid even before a tx gets in a block. The tx has to have a history that leads back to a valid generation, has to be signed correctly etc.
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Depending on what rule changes you are talking about it doesn't matter if 95% of miners choose to switch to say 50BTC reward forever. The power is with the merchants to reject the false coins.
It is interesting (perhaps worrying) to consider how cheaply one could pick up a lot of mining power. If miners are somewhat narrow-mindedly interested in short-term gain they may sell their power for a small % over the coins they get. How many would mine empty blocks only if the pool gave a 10% bonus? If the pool got 50%+ it could decrease difficulty by ignoring others blocks and building only on it's own. I strongly believe enough miners would bail after all they want to actually send their coins right? But with soft totalitarian rules it could conceivably be a problem. For example, very high fees with fees returned to registered members somehow.
I don't think any of this is likely, just thinking aloud.
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As another non-contributor, I've watched the forums here since the first slashdotting way, way, way back. Gavin's integrity, openness and the amount of effort he has poured into Bitcoin has been massive. Gavin's conduct has always been about seeing Bitcoin become more successful, and safer. I remember when encrypted wallets got rolled out, BIG end user change. It took forever and affected everyone, Gavin rolled out the change when he was satisfied it was safe. This is a man I can trust with my wallet, so I trust his judgment with changes to the Bitcoin protocol. I watched the video also. I support Gavin, for what it's worth.
I <3 Gavin, but that's an odd choice of example. The encryption procedure didn't actually remove the unencrypted private keys when it was first released. edit: <3 is a heart right? It's not in my normal vocabulary.
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When there is law (and oh boy there is law) men are not free to act to solve their problems. Freedom is no guarantee, but in the current situation would be free actors are stopped at every turn.
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If you could get people to make a huge change like moving to an expiring protocol then the whole point would be moot you could get them to switch to anything.
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yeah, maybe you should open a site and lend money to people to buy coins. Also try never to run out no matter how much people want to borrow.
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Is it a promise to reject any block contains a different transaction with the same inputs? That might leave the miner off the real chain forever no? But otherwise what does it matter? They'll mine the tx unless another gets in first? Not much help really.
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The bottleneck in TOR is just that more nodes are needed? More of the special exit nodes specifically?
Can exit nodes be configured to only help customers who have signed with a certain key?
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You might find as you grow that using SendMany will save you some fees. You might send every hour for example, sending 15 tx at a time for only about double the fee of sending one singly.
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1) You pay your taxes in bitcoin to whatever government you are a citizen. The bitcoins you use to pay your taxes may be single signature or multisig, it doesn't matter. They will accept any kind of bitcoins whatsoever. In fact, they would prefer you sent them bitcoins that weren't multisig so that they could then "brand" them with their own signature, thereby increasing their influence over the system.
Coins aren't branded with signatures in some permanent way. There is no difference between sending coins by signing with one sig or with two. If you get sent coins that used to be encumbered by A or (B or C or D) or (D and E) it makes no difference, whatever the inputs were have no bearing on what the outputs can be. In general though if the government passes a law requiring us to wear shoes on our heads it isn't safe to assume people will actually wear shoes on their heads. You need something more convincing than "the government will tell us to hand our money over". Getting our gold money took generations, and now we have so many more advantages.
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Can you do one huge bitcoin? Like 4x taller?
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1) You pay your taxes in bitcoin to whatever government you are a citizen. The bitcoins you use to pay your taxes may be single signature or multisig, it doesn't matter. They will accept any kind of bitcoins whatsoever. In fact, they would prefer you sent them bitcoins that weren't multisig so that they could then "brand" them with their own signature, thereby increasing their influence over the system.
You have literally zero idea what you are talking about so Standard Transaction Federal Union.
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Can you leave feedback if you go to jail? Not positive feedback... But seriously the gov can build up a good reputation too. Not that I think they are yet, and even when they do it'll probably be to watch and learn mostly. Hitting random bitcoin users would be pretty lol. Are they going to admit it's some random bitcoin or TOR user? Hope people figure it out and get scared? Maybe messing with high profile users would matter some, but does that scare people really?
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