and bitcoins will replace the dollar, too.
I don't think this is funny. One of the issues: If a currency that has a maximum of only 21M units available sees large-scale adoption, precision may become an issue. People will be dealing with tiny fractions for daily purchases and you certainly don't want any floating point errors to occur. Looking at modern FPU implementations, likely this will be no problem but for a currency that will be used globally it may have been better to set this number a few magnitudes higher. noone's stopping you from trading in mBTC, µBTC or nBTC... no excuse for floating point errors any more than with dollars and cents. True. I still think that 21M is a relatively small number and it would be more natural to deal with amounts closer to naturally countable (integer) numbers. That is because of how you were raised. You'll adjust. I promise.
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As a third party involved, if you cannot freeze an account on order of the U.S. Court (because you have no idea whose account is whose, and no idea how many accounts they may have) then you are liable for the criminal actions done through your service.
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Or try it again in a few days. The form says they are all processed manually within 48 hours. Presumably, they would just cancel it when they see that it isn't to a valid address.
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I'd support a protest at The Federal Reserve. Those protesters are mad at the wrong enemy.
While I too would prefer a protest against the Federal Reserve since that is really the source of corruption, Wall Street is absolutely a good target. These motherf***ers all went bankrupt then got the government to bail them out, stealing from the many to enrich the few. It really epitomizes what is wrong with america. That is just human nature. The real fault doesn't lie in those that want to cheat, because that is basically everyone. The real fault is in those that let (or help) them cheat: the politicians, and by extension, all of us.
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I'm probably going to buy a couple to play with at work. We have official record books going back to before our state was a state, and long term archiving of the data in those books is something that keeps me up at night.
By the way, building a DVD reader is pretty much a hobby project by now. None of the technology involved is very difficult. The only hard part is the laser head, and you can totally fake that with a low precision DIY head if you don't mind giving up some speed.
Also, the reason why a CD player can't read a DVD is because the pits are too small for the frequency of the laser in the CD player, but a DVD laser has no problem with the pits in a CD, and a Blu Ray or HD-DVD player has no problems with the pits on DVDs or CDs. I figure that as long as we have spinning optical media, these disks will be readable.
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I don't what you guys are thinking but I do not want by balance publicly displayed. I am sure any merchant that uses flexcoin agrees with me.
It would be your balance, but either a random token (or a nickname of your own choice) instead of your account name. That way everyone could verify their own, but no one would be able to figure out any of the others (unless they wanted to pick an obvious nickname so that they could demonstrate that they have what they say they have too).
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1. It would be trivial to delete old addresses when you are done with them.
2. Nothing prevents anyone from using a single address for everything. Oh, and I have never seen any indication that the multiple addresses scheme has ever caused any real problems for anyone, ever. Unless you count forum posts asking why it changed, or posts like this speculating that it might cause confusion. Your story reminds me of late night infomercials full of actors pretending to be confounded by trivial every day tasks.
3. Yeah, I feel for ya. I didn't get to this party early enough either. Oh, and Congress/the Fed has the ability to create new money out of thin air, without limit, so whatever problems you think this might cause for bitcoin are already true in the real world.
4. Yup. And this is mostly caused by people living in first world countries, where responsibility is unheard of because almost nothing ever has any lasting consequences.
5. In the real world, you have two choices, instant and horribly inconvenient (cash), or slow and convenient (everything else). Everything but cash is reversible for at least several months after you thought the matter was settled. With bitcoin, you can make the fast/easy/cheap tradeoff on your own terms.
6. Miners and relays are allowed to set their own local policy for including/relaying transactions. Oh, and if you really do want micropayments, just make sure your client is connected directly to one of the several mining pools that have a policy of including all valid incoming transactions. And if you want to help make micropayments more useful for the world, set your own node to relay everything and publish the address so others can use it.
7. Many of us have studied plenty of economies that had inflation. Not perpetual inflation, because they always end. Always. And usually with a horrible mess and thousands dead.
8. Wait a second. Wasn't your first point that bitcoin isn't anonymous? Also, everything you say here is true right now in the real world. It is just that in the real world, the costs of being careless are not paid by the careless, but by everyone, by way of higher prices and fees at vendors, banks and credit card companies.
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Sorry, too long, couldn't read the whole thing.
But your idea seems to be that we should convince several people (or groups of people) with a quarter million dollars or so that they should speculate on the bitcoin markets, right? And that instead of following their own discretion for pricing, they should all make trades at exactly the published rate from one/all of the exchanges?
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Awesome!
What's that huge spike in the middle of the US? A secret bitcoiner enclave in the Kansas City?
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Reminds me of listening to Noam Chomsky. Noam is the living master of sophistry, but jgraham is pretty good.
For everyone else, I'll let you in on a little secret. If someone starts pretending that they needed more precise definitions for common words that everyone understands and uses every day, sit up and pay attention, because a sohpist is probably about to snare you up in his tar pit. The same goes if they start to feign bafflement at a language construction that wouldn't confuse a three year old child.
While there is some wiggle room around "prosperity", this discussion sure as hell does not hinge upon any of the reasonable variations. Also, everyone knew exactly what Joel meant about pollution, except those that put a lot of their brainpower into avoiding the clear meaning.
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(Hash Rate) / (Difficulty * 2^32) = blocks found per unit time, ignoring changes in difficulty, stales, and other complications.
Current Difficulty is 1888786.705... So, multiply that by 2^32 and you get 8.1122E+15.
Say you get 250 Mhash/sec, or 250,000,000 hashes per second. You should then expect to find 0.0000000308 blocks per second, or 0.00266 blocks per day. Multiply by about 50 BTC per block, and you have 0.1331 BTC per day.
If you are using a pool (and you probably should be), don't forget to subtract the pool fee.
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Because the soldering fees is depend on the pin count.
Really? I figured they would just use a wave machine or a reflow oven. I've designed several PCBs, and sent them out for low volume fabrication before, but I've never had one assembled, or really even looked into it. I just sorta assumed that it was pay per board, or pay per unit area.
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AGAIN: Note that it is absolutely crucial that you provide prove that you are not running a fractional banking system. Blockexplorer would provide the proof if they are being wired out... we'll try to figure a way to display that the figures match 1:1 bitcoins to flexcoins... but honestly we never even considered this as a question, much less something we had to build. I think that in his idea, you would display a nickname (or several) for each account holder along with their balance (or portion of their balance allocated to that nickname). That way, everyone could look at the list and make sure their name was on it, that their balance was correct, and that the sum for accounts was the same as the sum of the addresses (shown on block explorer). You wouldn't be able to go fractional by leaving some names off the list to balance things out because you wouldn't know which people are going to be looking for their own information.
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Like I said before, instead of charging a fee and returning 70% of those fees as discounts, (a large part going to the BTC wealthy,) simply charge 30% of the fee you're trying to charge in the first place.
EG: 0.003BTC or 0.15% on all withdrawals.
+1 You pay a transaction fee of X BTC to send coins out. Flexcoin includes a transaction fee of Y BTC in the transfer. X is easy to calculate from the transfer amount, because it is set by Flexcoin policy using a simple formula: X=max(0.01,amount*0.005). Y is not easy to calculate in advance, because of the way the bitcoin client works. But you don't care, because you don't pay Y directly, you pay X. Next, Flexcoin calculates Z, which is the sum of all the cash out fees paid by users (X), minus the sum of all their paid network transaction fees paid by Flexcoin (Y). Z is their operating profit for whatever accounting period they use. They then distribute 70% of Z back to depositors as profit sharing (their lawyer makes them call it a "discount" so they don't have to file paperwork with the IRS), and they keep 30% of Z as their net profit. Is that clearer?
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There appears to be a problem with long polling.
I reset my stats too, and I noticed that some miners have many stales, but other miners have zero. So, I looked at a box with two cards, one that was showing stales, and the other with zero. The one with zero stales saw two LPs at 15:21 and 15:23 (central US time), while the one with several stales had rejections around those times.
If I had to guess, I would say return of the botnet.
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No, not a grey area. The list is prohibited activities, not prohibited entities.
It is not prohibited to send money to any user for any reason..... I can just send a friend money for no reason whatsoever.. it's my friend... I'm sending him money. So if I do a transaction with someone for an ebook or other service, that is allowed. If that person sends me bitcoins that is completely separate and had nothing to do with my paypal transaction. If I send paypal money and say, "here's money for some bitcoins" THEN and only then have I broken terms of service. Or if I paypal money TO a bitcoin service. They'll laugh at you.
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He has stolen over $1,000 in BTC, USD. AT LEAST.
Wow,That's insane.Probably the highest number I've seen alleged thus far. BTW,How come you didn't do a chargeback using Dwolla ? It might allow you to get your money back.That address also appears to have fuzzy images using google's streetview......yet the rest of the street is clear. Click around that street, or nearby streets, a few times. Every picture of that side is fuzzy on the right and clear on the left. My guess would be something on the camera's enclosure.
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In a free market, private 'regulators' develop and act as auditors who take responsibility (i.e. pay if sued) for the product after inspection. But with government intervention, you get worse products & higher costs.
In some cases that's true, in others it's just wishful thinking. http://www.forbes.com/forbes/2004/0112/052_print.htmlIs that the article you intended to link? It has nothing to do about regulation.
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Folding is in the range of 10 petaflops, bitcoin is actually 170 petaflops
Give that zero floating point operations are required to compute the SHA256 hashes for bitcoin, I find the number 170 petaflops slightly unrealistic. You could perhaps make an argument for integer operations, but even that is stretching it a bit. If we just take the equipment churning out those hashes and estimate their FLOPS capability, we might get some kind of closer to reality answer. Assuming that most of the hash rate are coming from GPU miners using the AMD GPUS either 5xxx or 6xxx series. Based on the official SP FLOPS of these cards and what information I can dig up about hashrates at default clocks... since most miners are more keen to show off their best, it's a bit limited The ratio of TFlops to GHash is between 6.4 to 7.5 TFLOPS per GHash/S Going by that, 13THash would translate to about 83.2 to 97.5 TFLOPS with the real answer somewhere in middle since there's probably a mix of 5xxx and 6xxx cards, as well as some nVidia miners. Side note, wiki says Folding is in the range of 4.1 native PFLOPS as of July 2011. You missed a factor of 1000. G=billion (10^9), T=trillion (10^12), P=quadrillion (10^15). Assuming your ratios: 1Ghash/Sec ~= 6.4 TFLOPS means 1 hash/Sec ~= 6,400 FLOPS. If we switched to floating point math, we would be around 13 * 10^12 hashes/sec, which is 83 * 10^15 FLOPS, or 83 PetaFLOPS. But we aren't doing floating work, so our FLOPS rate is still zero.
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I'm pretty sure that the block rate on ixcoin is currently limited by latency and churn, rather than hashing power, and it will stay that way until everyone gets bored or the difficulty catches up. Could be a day or two.
To really mess with it, you'd need a lot of hashing power (but less than you'd think), and a hacked client that ignores reorgs.
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