I'm not sure if that will be better and I'm not sure if Obama still has troops. I'm sure though the new government will try to keep all those troops far from home - Uganda, Upper Volta, Ivory Coast or whatever. It doesn't already matter if there is oil there or not. The important thing for the Wall Street government is to keep troops far from home. Yes, this is where the US government resides now. This is why people protest on Wall Street not in front of the White House in Washington! Coup d'etat took place in 2008 and the US government moved from the White House to the Wall Street. The so called QE's done by Fed are just ransom money paid by the fake government (at the expense of taxpayers) to the real government body on Wall Street.

Of course, their time will come. We have to only wait for their oil fields to dry up... But I'm not sure which one will be first, the revolution in Saudi Arabia or the revolution in the US?

Egypt proved you have no idea what is happening now in Egypt. The censored media won't show you burning churches and dozens of dead bodies of Coptic Christians as the military crushed a Christian protest recently.

I'd suggest you start freeing millions of people from tyranny in Bahrain and Saudi Arabia. Start bombing, send missiles there and bring democracy! Keep the troops in the region. Bringing troops home is dangerous for it will further deteriorate unemployment situation and probably create the military wing of the OWS movement?!

Where are the 'efforts' of your Democratic government to overthrow authoritarian governments and replace them with the power of the people in places like Bahrain and Saudi Arabia? Just on the contrary, your efforts there are focused to preserve the status quo!

How are you defending America by bombing people of Iraq, Afghanistan and Libya?

So, let me suggest a money laundering definition - every activity that isn't profitable enough for the institution you're trading with...

... and one day God created gold to serve people as money. Now he signs off his deeds by some unknown Arsene Lupin who will access planet Earth only through Tor and is essentially nontraceable. Amin...

Although gold was illegally created by God people continue to use it as money for the last 6000 years. Go figure...

My point is, you can not use any existing legal frame to regulate bitcoin. If you want to regulate bitcoin (and the like) you have to create entirely new legal frame!

No, Fed is a private institution and the state/government is a branch of the Fed!

Congrats for the new service!

I don't quite understand how is your affiliate system working?

1. There is a difference between currency and money.
2. Bitcoin is a commodity but it is a digital commodity. IMHO bitcoin is the equivalent of digital gold. Bitcoin is a commodity for one very simple reason. It can exist without any trust-based model (see Satishi's white paper). On the other hand every currency requires an element of trust between transacting counter parties. Indeed, why would anyone using BTC in Europe, for instance, keep a record of a transaction where someone has bought a beer with their BTC in Australia? There is no economic sense, it's expensive! BTW, this is the major reason why isn't bitcoins used by established merchants.
3. To succeed bitcoin needs the second form of their monetary dichotomy. The form that has an element of trust. Then it would be very easy. Commercial transactions will be in point-of-sale bitcoins and all outstanding balances will be cleared in 'real' bitcoins i.e. in digital gold.

https://bitcointalk.org/index.php?topic=28565.msg470117#msg470117

No. 2 computers are just 2 computers. Bitcoin can't make any difference if they are owned by 1 person or by 2 persons. I do believe, however, it is possible hashing algo is changed in a way so that 2 computers mining separately are more productive (resource/result ratio) than 2 computers setup for parallel mining. 3 computers setup for parallel mining is less productive than 2 computers setup for parallel mining and so on.

If you want to include people into play, not just computers, you have to include authentication through security/hardware tokens and PINs. That is, private/public key pairs can be generated for transaction signing if only correct token and accompanying PIN are used. I'm quite confident this is the future for btc, sc and every other examplecoin.

It is linear computing against parallel computing. It is single threaded hashing function against multi threaded hashing function. Botnets are concern but shall always be a concern. Much greater concern to me is a single space controlling near 50% of the network hashing power (like deepbit, for instance). By single space I mean mining pools, mining farms, mining syndicates, mining conglomerates or whatever. This should be avoided at any rate. Because this is equivalent to purchasing/hiring votes to the extend of becoming a monopoly if your hashing (voting) power is greater than 50% of the entire network. This is why hashing algo must discourage parallelizing mining tasks by making this process with exponentially growing difficulty if parallel processing is practiced.

There is no absolute democracy but still there are systems that are more democratic than others. Why are some systems more democratic than others despite that all they are based on 1 person = 1 vote? Because they create geometrically growing difficulty for a decision-maker to purchase/hire votes! This is why a chain that prefers CPUs is more 'democratic' than a chain that prefers GPUs.

Exactly. Electrical cost (in terms of kWh) should be fixed so every miner knows exactly how many hashes will their CPU or group of CPUs generate per kW.

Some 15 years ago Sir Arthur Clarke predicted that in the near future the world reserve currency will be kWh or some other unit of energy. The only reason we don't yet have this is we still can't find a way to cheaply store electricity ('storage of value' function)... Until we figure this out, whatever we use as a currency, it should be closely fixed to the cost of kWh. If we lose this dependency out of sight we lose the reasoning behind every future monetary system!

Every cryptographic currency should be made for the masses or in the current conditions it has no chance to succeed. CPU or GPU mining is much more important than people might think. Verifying the proof of work is just like voting/accepting its validity. What kind of voting system do we want to have in place? Vote = decision maker/CPU or vote = worker(slave)/GPU? Do we want to live in a society where 1 person = 1 vote or do we want our voting power to depend on how many workers/slaves do we have?

The greatest return is when you bribe government officials. You get the information you need (you say it is asymmetrical, huh) and lucrative contracts, and government bail-outs!

I hope it now does make sense!

I know what he is talking about, he doesn't. If you have natural money as gold (neither inflationary nor deflationary) price of goods and services will decrease because productivity is increasing. This, however, IS NOT DEFLATION! Learn to make difference between inflation/deflation in general and MONETARY inflation/deflation! Money is just metric of value that helps exchange goods and services. This is why money should be absolutely neutral in terms of inflation or deflation. The so called money supply should be constant zero! The quantity of money in circulation should be constant! In terms of Bitcoin this is 21 million coins or 21 quadrillion units. That is it! Why is that so difficult for you to understand?

Monetary inflation is bad! Inflation is unlawful tax imposed by governments to rob their citizens!

From 1840-1914 there were no cryptocurrencies. How did that happen?

1. How did you know a coin is lost?
2. Don't people lose dollar banknotes as well?


Inflation fans stress on the fact that inflation forces people to buy goods and services just to avoid their money devaluing on their checking accounts. They say that is good for the economy.

- 'A' produces goods and services in excess.
- 'B' produces goods and services in excess as well.
- Both 'A' and 'B' purchase goods and services of each other not because they need it but to allow their counterpart to have the funds to purchase the goods and services they don't actually need. Thus, some people say, economy will grow.

This is not a definition of economy. This isn't even a definition of a ponzi scheme. This is a definition of insanity!

But how will their money grow if interest rate on those 'accounts' is zero?

No! Markets are markets. People are people.


You must be a great fan of baron Munchhausen's approach to surrounding reality?!... People just need to change their mind to get the markets going?!... Huh?...

Nothing unwitnessed before will happen. What did happen when the Soviet empire collapsed? Nothing too dramatic. The sky didn't fall.

The US is an economic bubble for decades for they consume 25% (producing less than 20%) of the world GDP virtually living on credit for decades. Their military budget is bigger than military budgets of all other countries on this planet taken together! If what you describe takes place the US will just cease to be the only super power in this world - nothing more and nothing less. The sky will not fall. Economic power will shift to Asia-Pacific region. It is currently shifting anyway. Postponing the inevitable by money printing in the US and EU is just borrowing from the future, deteriorating the consequences, and blatantly robbing future generations.