Oh, and Steve's paper has been refuted many times in many of the threads that he has posted it into.  Perhaps ridiculed would be a better word.

I wasted some time on it a couple of weeks ago.

The reason you have no idea how it could work is because it can't work.  We hash the chain directly because it is impossible to fake the effort.  Using anything else opens the door for forgery.

No, I mean interfacing with whatever system you use to transfer currency in and out.  If it was dollars, you'd be using Dwolla and/or LR.

The bitcoin interface will be easy.  It is the currency APIs that will be difficult.

Deflation is bad for borrowers, inflation is bad for lenders.  What is bad for either of them is bad for lending as a practice.  So I'm just saying that an argument in favor of either one has a reciprocal argument that leads to the same conclusion.  Even worse, as long as whatever you have is reasonably predictable, the effects can be mitigated.  Any argument in the inflation/deflation debate that involves debt is therefor pointless to make or consider.

The distortion from having banks create money, and thus create inflation, is a secondary effect.  Markets have some lag, so any particular place that inflation or deflation hits first will be distorted in relation to the rest of the economy.  Invoking this argument is really an argument for or against some particular scheme of inflation distribution with regards to time, and not an argument in the inflation/deflation debate itself.  Unless it can be shown, and so far I don't think anyone has, that there is a distortion natural to all systems of inflation or deflation.

We probably agree philosophically, but I don't think these particular arguments are very strong.

For what it is worth, I prefer the bitcoin model with a fixed total money supply and no way to ever increase it.  I don't care so much about inflation or deflation, so long as it is the market making the decision, and not some guy or group.

Please, please tell us what this was for.  I imagine that there are about 60 people scratching their heads as they ponder this thread.

Just out of curiosity, where do you get your silver planchets?  Or are they just coin blanks?

Yup, and that is a mistake on their part.  A trivial mistake.  And a common one.  For example, Verizon's call center staff doesn't seem to understand the difference between 0.02 dollars and 0.02 cents.  Read more here.

Now how do you explain the gibberish I quoted before?

The arguments about debt are largely nonsense, in both directions.  As long as the rate of inflation/deflation doesn't change abruptly, that rate is figured into the loan at inception, or the loan can contain provisions for adjustments.

And if workers have a hard time adjusting to falling wages in a deflationary world, they are defective in the brain.  They will quickly come around as they realize that the alternative is for their wages to fall to zero abruptly as their employers replace them with non-defective workers.

Go troll somewhere else.

Most of your sentences start with capital letters and include punctuation, so I can't imagine that your reading comprehension is so bad that you are making an honest mistake here.

The rollback also rolled fees back, so no one paid any fees at all from the time just before the big oops until trading opened again.  The zero commission special going on right now is for trades made after the site reopened, that is for trades in the future.

Might want to fix your URL.

It isn't really a bitcoin, just a brass coin with the logo stamped into it.

And it isn't really first if you count the limited edition resin coins that went around a while back.

But it is still really cool looking.  I ordered two.

Exactly.  The exact same reasoning applies to Visa, MasterCard, Discover, and American Express too.

The questions are "Who will jump first?"  and "When?".  PayPal seems very slightly more likely than the credit card companies to jump in first.  But no idea when.  Could still be years away.

I had a similar problem.  I really wanted the 10% discount on my fees, but I didn't know who to give the referral bonus to.  I could have just picked some random post, but I wanted it to go to someone that had helped me out.

In the end, I went with the guy that fixed my avatar since his code was the first one I came across after I decided to be selective about who got the reward.

If I'd thought about it a little longer, I'd have checked to see if DrGr33n had a code posted, since all of my miners use LinuxCoin.

The premium for ASEs is under $5.00 in small quantities.

I think I'd be willing to buy one for about $10 over spot.  But if you can get your cost down into the $5-$7 range, or lower, I'd get several.

Of course, I'd want to pay in BTC too.

I'm pretty sure that verification time is the dominant factor when fetching a large number of blocks.  For each block, the client verifies each transaction.  That is a lot of work.

Oh, and I need to figure out how to get this licensed onto the Touch Tunes network so I can play it in the bar.

I know what that something is.  Fake 'staches.

Old news.  11 years ago, tomorrow.