My idea, probably for an altcoin, is to have a dynamic block reward that moves in relation to the demand of the currency. I have an algorithm that I am testing but the general idea is that if there is increased demand then there will be an increase in inflation via the block reward to offset that demand. If there is a decrease in demand then the block reward will decrease to move the price within the desired equilibrium.
Here are my issues: 1. Your currency is strictly inflationary. There is no way to remove "excess" currency from the economy. 2. You haven't described your "algorithm" for determining demand, and that is the key to your whole proposal. Correct in the truest sense but I am talking about the relation between supply and demand. We are currently always seeing a demand shift on the supply curve. I am simply trying to stabilize it at a market equilibrium. Theoretically it is possible but I guess I will only know when I throw it out there for the world. I suppose the reason why I don't want to disclose the algorithm is that I have yet to release this in practice and that will likely be the truest. Although, people can of course do with it what they want once I release it. I just wanted to let people critique the bare bones idea of such a mechanism. I think that trying to maintain a market equilibrium will be difficult because you don't know the shapes of either the supply or demand curves. I assumed that you were going to tweak the money supply based on the velocity (more specifically bitcoin-days destroyed) in order to match the current production, but that is probably just as difficult to do.
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At any rate, me and you both know that the value of Bitcoin moves 2-3% per hour at times let alone per year ...
That is temporary. The price will stabilize when we have wide adoption.
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My idea, probably for an altcoin, is to have a dynamic block reward that moves in relation to the demand of the currency. I have an algorithm that I am testing but the general idea is that if there is increased demand then there will be an increase in inflation via the block reward to offset that demand. If there is a decrease in demand then the block reward will decrease to move the price within the desired equilibrium.
Here are my issues: 1. Your currency is strictly inflationary. There is no way to remove "excess" currency from the economy. 2. You haven't described your "algorithm" for determining demand, and that is the key to your whole proposal.
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I suggest that you reformat your post to make it easier to read. It is well-written, but most people aren't going to read a wall of text. If there is increased demand then the price will inevitably go up but this creates speculation and hoarding. This means that there is very little incentive to actually spend Bitcoin to pay for goods. I don't believe that it true. If the value increases by 2%-3% per year, then there will be some additional saving, but to say that there would be "very little incentive to spend" seems to be quite an exaggeration. Consider that inflation is the opposite of deflation, and your arguments could be presented in the opposite sense with dollars to show how overstated they are: If there is increased supply then the price will inevitably go down but this encourages spending. This means that there is very little incentive to actually save.
Now, we know that people save even when the currency is inflationary (thought they may save less), so we can assume that they will spend when it is deflationary (though probably less).
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Dead cat bounce, more likely.
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People are labeling this a "trade war". If the united states is serious about this, I don't think there will be a war. There will be a struggle, china will put up some resistance but over the long term the united states will win and china will be forced to concede and give in to demands. There could be some short term negatives but over the long term the end result could be positive for americans and the united states. Like some have said china needs the USA more than the USA needs china. This gives america leverage in the relationship and enables it to dictate terms.
How do people see this panning out?
Nobody wins in a trade war. Everybody loses. Makes sense, I'm happy this administration does this. Thank the lord someone cares enough to protect america.
You have it backwards. Trump has hurt America in order to enrich his corporate allies. A few corporations will benefit at the expense of everyone, including their employees.
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Oh come on! Let us not fall for these dirty tactics. We all know this is PURELY business. Of course, Ethereum creator would always make abuzz about anything that has to do with Bitcoin MAINLY because Bitcoin is STILL number one in terms of its popularity, transactions and value. Not to mention it is way too ahead from all others, Ethereum included. Otherwise stated, the Ethereum creator has all the right to have angst about Bitcoin and everything that has a relation to it because nothing ever came close to Bitcoin. There is no real competition so to speak.
I am just wondering, though, whether Ethereum founder meant Craig Wright a fraud or Bitcoin a fraud? Or does his statement connote both? Nevertheless, I think these accusations are baseless and are purely matters of business strategy.
Baseless? You must be new. Vitalik Buterin has been around for a long time, and I know him well enough to know that he doesn't consider Bitcoin and Ethereum to be competitors. Craig Wright is a fraud. That is a fact. So, I agree with Vitalik. Why did the conference have such a person as a speaker? It only makes Bitcoin and the entire crypto space look bad.
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Hi everyone. I hate to say it but im a newbie with regards to crypto wallets. I found this to be one of the best informative forums online so decided to register and drop a msg. So i've installed my bitcoin wallet. (bread wallet) to be precise and cant figure out how the satoshis or bitcoin are projected or receieved onto the wallet via the unique address. So in the case of mining for example.. Do they automaically sync into the wallet via the address when you complete each task/mine etc or do you have to wait for a certain amount to build up before you can withdraw them to the wallet?. Ive done a few tasks here and there to test it out however when the wallet app syncs it still shows a 0.00 amount. Im entering the correct address. Am i doing something wrong?. I need help with this. Hope i managed to explain this correctly. Cheers.
Your wallet creates and maintains addresses. If you want to receive bitcoins into your wallet, you send them to an address that it provides. All transactions are broadcasted to all nodes, as well as all blocks containing/confirming those transactions. Periodically, your wallet requests information from a node in the network about all of its addresses and it will display their current statuses. Transactions typically take several minutes to be confirmed (included in a block) by miners. If you want more help, you will need to provide relevant transaction ids and addresses
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Easy. Fix your grammar and don't write a sentence in the form of a puzzle for the reader to solve.
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I bought a leather case for my Keepkey HW wallet at a Blockchain conference today. The case fits perfectly and I really like it. They have leather cases for all the major HW wallets. I thought I would let everyone here know about the company. Here is the site: https://www.cryptohwwallet.com/leather-cases.html
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... every week it is going down, the buy in the dips formula ain't working for me now. I am exhausting my investment budgets ...
There is another name for "buying on the dip". It is also known as "catching a falling knife". https://www.investopedia.com/terms/f/fallingknife.asp
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That article is full of misconceptions. ... Intel’s new hardware would theoretically make Bitcoin mining less energy intensive ...
It is not possible to make Bitcoin mining less energy intensive. It is designed to be energy intensive. This, in turn, has forced out many small-time miners while increasing the stranglehold on the sector by large-scale operations ...
Price drops affect large and small miners equally. It is the cost of power that matters most, not the size of the operation. Intel’s new technology could make small-time mining profitable once again
Wouldn't big miners use it too? I don't think it will have an effect on the profitability of small miners. Once this new Intel technology comes to market, ultimately more people will mine again because it’s profitable again, driving down the market value of the coins, and finding a new market balance that will again put locations with lower electricity costs back at the advantage.
More people mining means a higher difficulty that negates the benefits of higher efficiency. Profitability is not affected. The profitability of mining has no effect on the price. The opposite is true, though. The price affects profitability. That quote is confusing. It seems to say that more people will mine because it will supposedly more profitable, but more people won't mine because of electricity costs.
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3253
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Other / Meta / Re: Activity, Merit, Politeness, fMerit, Imagination, Virtue, Coins, Karma, Posts !!
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on: April 01, 2018, 07:03:39 AM
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In this case, finding out that this is just an April Fool's joke is a disappointment.
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62f54713798ca6298056e56af4663074c87992354eb8c200e149052dd9bc9a6f
The transaction was confirmed in the next block ... even before you posted ... but, some blocks take a long time.
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I think that ico bench is one of the best pages and also ico drops, most of the ICOs in these are validated by experts and offer some confidence to the investor that can´t research by himself.
Those people that recommend icobench must not be aware that companies pay icobench to promote their ICOs. Premium Hit 27 BTC
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1. I can't think of many good reasons for memorizing an address. Anyway, sometimes transferring an address between devices can be cumbersome, but usually it is not a problem and there are ways other than writing it down. Some sort of address registration service might be helpful, but if it were really necessary, it would have already been created.
2. The problem with being able to get your money back when you make a mistake is that you can also get your money back when you don't. It enables the kind of serious fraud that banks and credit card companies have to deal with. If you need a third-party to validate transactions, then you have eliminated the main advantage of a cryptocurrency.
It seems like what you are asking for is a banking system and debit cards. That has all the features you want and it already exists.
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The most effective way to lower your risk is to do more research.
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I define a bubble as an event in which a speculation-based positive feedback loop pushes the price of asset far above a reasonable value (based on a risk-adjusted discounted future price), inevitably followed by a crash that returns the price to rationality. Bitcoin is clearly in a bubble (that has popped). However, unlike the FUDsters, I don't believe that a reasonable future price is 0. This current bubble is not unusual or unique in any way as Bitcoin has experienced several bubbles in the past. This one has been moderate compared to the others. My prediction is that the price will level out at around $5000 over the next several months and then perhaps start slowly rising again as people see that Bitcoin is not going away. Only people who don't understand Bitcoin call it a bubble, or even worse reference the Tulip Mania. It is like they are saying things without even know what they are saying, dare I say are they begin ignorant? ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) I have been an active investor and entrepreneur for decades, and I have been actively involved with Bitcoin since 2011. I feel that those who claim that Bitcoin is not in a bubble are the ignorant (or perhaps just wishful) ones.
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PS: This article might sound like a grand conspiracy theory, but shared it since I think there is quite a bit of truth in it.
Unless you can provide proof of the existence of this "cartel" and identify its members, then you have posted nothing more than a grand conspiracy theory. Furthermore, even if some of the article contains truth, that does not mean any of the rest of it does.
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Perhaps you might also consider that if you sold half of your BTC when your wife wanted you to, you would be $1000 per bitcoin richer right now.
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