What makes a transaction a "micro transaction" also depends on your long term expectations of BTC prices.

I don't trust off-blockchain transactions as much as transactions in the block chain.

Especially with off-blockchain transactions who rely on the "threat" that they could be executed by being put into the blockchain at any time there might be issues if it then takes high fees or a long time until these are even verified.

I'd rather see a dynamic solution with a VERY long warning beforehand, similar to what was already done in the past - something like "after this block which will be mined in 2 years block sizes following these rules will be accepted too, until then 1,000,000 bytes it is!".

I would understand this statement/conclusion, if the max. block size was something like 100MB or 1GB.

It might just be the case that the "steady state economy" that can survive on max. 1 MB blocks (~4-5 times larger than the current one) is too small.

If a lot of miners leave to a different fork, you're into 51%ing trouble. A lot of it (especially with ASICs around).

Well, then it should!

It's a feature request, not a request for explanation.

Then it is even worse than bitmarket.eu (who at least hold BTC in escrow) and is not really an "exchange" but just a platform to put up suggested offers that might be filled or not. Depending on external factors (MtGox) and who sends first (remember: BTC transactions are IRREVERSIBLE!) sellers or buyers scam each other into oblivion.

I wasn't asking you to enforce fiat transactions, I wanted to know if you devised a system to make sure fiat transactions are not reversed. Your excuse seems to be "if you are scammed by someone, that's your problem - you should have looked at user ratings" - guess what, even pirateat40 had hugely positive OTC ratings, on SilkRoad a highly rated/trusted dealer decided to suddenly disappear with a lot of BTC and if there's even the possibility a trusted trader could loose access to his/her account and someone else makes offers for them...

Sorry, but if that's really all you propose (platform for offers), then there are already existing and better options out there. I hoped you came up with a better solution, but it looks like a no so far to me.

As somebody who mainly wants to lend, I'd like to have a feature like the following:

"I want my money back on the xx.xx.xxxx with interest rate yy%/variable".

Then whoever wants to borrow money from that stash, no matter if it is for a day, a minute or a month can reserve/use it for some time (and pay the interest while doing so). These timeframes have to be chosen so that latest on the xx.xx.xxxx the position is closed again and I can get back my money + interest accumulated.

I actually don't care if it gets used for just 30 1 day positions or 1 30 day position, as long as the interest is the same and I get it back on time.

As I understand it, if I offer 1 BTC for 7 days, I actually don't know and can't control when this position will be taken by somebody - it might be that it stays in the book for some time and then then the xx.xx.xxxx arrives someone sees it as a good offer and locks(borrows) it. This means I'd need to relist the position every day with 1 day less until the xx.xx.xxxx to emulate what I described.


Edit:
Concerning the problem mentioned before (reserving for 1 day) - maybe make this more clear/prominent to users? It seems to irritate people that think they need to reserve something or who want to snatch a nice lending offer that they then can't use for their desired position time.

How will you enforce a fiat transaction? Say I sell 1 BTC for 30 USD, suddenly the MtGox price crashes and BTC is at 10 USD/BTC - how do you ensure I still get the 30 USD somebody has committed to?

To me the small hints you gave seem like a "mobile"(?!) version of bitmarket.eu or similar, where you can put up offers that might be taken or not - but every time the BTC prices fall there are lots of problems with people not doing the fiat transaction. On the other hand, if you don't even hold BTC in escrow, as long as the rate goes up it makes sense for sellers not to send the BTC they promised but rather to re-sell them at higher prices.

Regulatory issues come into place once you start to create something that is 1:1 pegged to a fiat currency and can be redeemed in fiat again. This is the main difference to gift certificates (e.g. iTunes gift cards). Yes, of course sometimes it might be possible to get money back on a gift card too, but in general Apple does NOT guarantee you that you can just show up with 5000€ of iTunes gift cards and demand 10 500€ bills. With e-money on the other hand, you could do that.

*sigh*
Ok, once I can deposit BTC, I'll put up an offer for lending them for 1 day - then you can reserve to borrow them and a few seconds/minutes later try to open a 1 day position with these...

Is there a node that you control or make use of to find 0.8 clients quicker which we can add via "addnode" so you also see our nodes? Or do you just hope that your client will after some days just randomly stumble upon a 0.8 full node because there are so many?

At current BTC lending offers (120 days variable rate, 15 days, 5 days, etc. with fixed rates), try to open a position for 120 days where you borrow the BTC for 120 days 10 minutes before that. In my theory you'd not be able to do that (having a 120 days position) or get the 365 days 888888.0% "offer" instead.

Maybe let it go only to 2027 (more clear that 21 million are not reached there) and ad a red dashed/dotted line at 21 million? The dot at 2033 is already maybe too close to 21 million anyways, and 14 years into the future is still a long time.

Most issues are regulatory I guess - if it is possible to register an official e-money issuer that is allowed to receive e.g. EUR and hand out Bitcoin-style (blockchain, scripts etc.) "Eurocoins", there is already a suggestion by Mike Hearn on how to shape transactions in Bitcoin and Eurocoin that could be used as decentralized exchange. The centralized element would then be only the Eurocoin issuer (in any exchange scenario you'd have someone you need to trust, because fiat transactions are not enforcable by you without a lawyer...) but NOT the Eurocoin holder whom you are exchanging to. E-money issuers are not allowed to do fractional reserve, so there's low risk on that front.

Usually the issue is on fiat side and how to enforce anything there - either by involving a 3rd party (e.g. MtGox), a WoT (BTC-OTC) or a combination of both (Ripple). To have a decentralized exchange you don't just need to "revolutionize money", you need some new/unique/special ways on how to deal with fiat money as well!

But then an 1 day offer from 4 hours ago would still not be possible to take, while one 2.5 hours ago works - even worse user experience imho.!

I'd rather either have a 24 hour buffer time added and on loan taker side having only the remaining days displayed (less than 24 hours = 0 days!) or something along these lines.

Edit:
I wanted to deposit a few coins:
"Bitcoin
Bitcoin watchonly daemon temporary down please come back later "

Also please graph + display the variable rate(s) again.

How to find the data directory (where this file belongs to):
https://en.bitcoin.it/wiki/Data_directory (<-- this also needs a bit of updating for the different files/folders with 0.8)

Some more hash values of this bootstrap.dat file (up to 216116):
Adler32: FA0EEF4C
CRC32: DDF59E6B
MD5: 1B437D44213B7D98C974546B55834D10
SHA-1: 985380032B618281EC5B9B49AFDCC99A4BCD69EB
SHA-256: BF658C7055B733BFC15EA167F298C5599B89D220B14DBE7C8EF20B18E468C451

Unfortunately it's not possible (yet?) in Bittorrent to share HTTP seeds in a swarm (DDoS potential!), but still - if you have a web server to seed this file but cannot run Bittorrent, you might still post a link here, so you can be added to the Magnet URI/torrent file.
HTTP seeds are in most clients actually quite rarely used, so unless people start to direct download from these you might not even have heavy traffic going on.

Also if you cannot use Bittorrent, there are services around that download torrents for BTC for you and offer a HTTPS download link. I won't link these here as I don't want to make it look like I endorse any of these.

As I understand it, if I put up a lending offer, my funds are locked for the duration of that offer (e.g. "Willing to lend 10 BTC for 3 days starting on Monday, 00:00 for XX%" - I can access that money and any eventual interest then on Thursday, 00:00 with the current model).

However, a lot of people don't seem to understand that an offer of 1 day is completely useless and can never be filled, if people taking these offers can also only specify min. 1 day duration. As soon as I put up my offer, it will be unlocked in less than 1 full day, so nobody can actually borrow it for 1 full day.

Either allow only min. 2 day lending offers (if keeping min. 1 day options) or make offers locked for longer than entered, so people seeing an offer for 1 day can actually borrow that money for a 1 day position. Either way it's also an interface issue - to allow people to borrow money for 24 hours (=1 day) I need to enter at least 2 days. Same goes for someone wanting to borrow for 1 week (7*24 hours) where I need to enter at least 8 days. Then however I confuse people who want to borrow for 2 days that cannot take an offer for 2 days etc.

You could display FLOOR(remaining hours/24) instead as "days available" for people looking to borrow money, this would be the actual time frame they can borrow it anyways.

Well, I see 15 seeders and 9 leechers on the current (larger) bootstrap.dat file. Maybe you are not using trackers and/or mainlineDHT or using some restrictive firewall? Also download of the torrent was reasonably fast (= ~380 kB/s on average for the remaining 2.2 GB).

As long as BitcoinQT cannot handle a compressed bootstrap.dat.xz file, I'd rather waste some bandwidth instead of confusing newies even more.

75 @ 0.39
totalling 29,25 BTC, escrow required, similar to previous thread.

Oh, for anyone already seeding/downloading the old torrent:
Just remove the seed, open the new torrent and add it at the same location. Your torrent client then verifies the already existing blocks (~first 51.3% of the new torrent) and then loads the rest from other peers.

Maybe you can change the issue with short loans (1 day, 7 days) in such a way that if I lend for X days, I get my money back in max. X * 24 + 24 hours? This would mean I offer a loan for 1 day on Monday 00:00. The whole Monday someone can take of that loan and use it until Tuesday. Earliest Tuesday 00:00 and latest Wednesday 00:00 I get the money back and available in my account.

I think that reasoning makes some sense (in my head it does) - and it allows also 1 day loans. After all, I WANT to loan out that money, but I might need it back quickly (or to give out another loan). In the end you'd add a 24 hour buffer "in front" of the loan period to take up the loan.

I see a few different scenarios possible then:
The loan offer is taken within these 24 hours and ends X days later, then gets reposted or not.
The loan offer is not taken within these 24 hours. Then (if I didn't want to repost, because I might need the money after X days) I'd like an option to automatically reduce the offer by 1 day and be reposted (e.g. 7 days on Monday --> 6 days on Tuesday etc.).