Well, the "laws of the universe" know time dilletation right? You could cause a computer, which is accellerated to near light speed, to bruteforce for 100.000.000.000 years (your picture states that power consumption is negligable) while here on earth only a few seconds pass by. This is Einstein's "laws of the universe".  Unfortunately "Einstein's laws of the universe" work precisely the other way round. Bump something up to near lightspeed for however long you like, then bring it back, it'll only have run SLOWER than if you'd left it on Earth. http://en.wikipedia.org/wiki/Time_dilationI'm glad I read to the end of the thread before pointing this out too. ;-) |
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How does this square with the grey hole that Hawking is now proposing as replacing the black hole? ;-)
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Sorry, I meant million not billion.
Thanks for correcting me.
 . Figured. :-) |
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Here is how TheSuperSatoshi Lottery would work. Someone we could all trust, like the Bitcoin Foundation, or Silk Road  maybe, would have a bitcoin address hold by multi-signature and the contractual rule would be: the prize would only be given when it reached more coins than we think Satoshi has. So, the prize would be when we reached something like a billion BTC or so... For every amount sent you would have that of satoshis sent make you have your bitcoin address listed in an ordered list of all the participations as many times as satoshis sent. ... So it never pays out since there will only be a max of just under 21 million BTC? |
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I have my tricks but most people here in Argentina has no idea about anything. why won't you help your countrymen
i know what you mean by this, i've seen it too many times. The majority might be like this but you can still help the minority; however small. "Give a man a fish and he will eat for a night, teach a man to fish and he will eat for a lifetime." If you teach one person about Bitcoin that wasn't aware before, you've made a major impact on the direction of their life. Build a man a fire and he'll be warm for a day. Set a man on fire, and he'll be warm for the rest of his life. :-) Seriously, services from people in Argentina or things that can be sold to others - Wine for one thing - are great things to sell for bitcoin. |
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Maybe some sort of "proof of work by a real human"?A job? 
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I'm sure this will be useful to many people going forward!
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Just remember the Nobel in Economics is a fake one.
By the way, I am creating, for 2014, "The Nobel Memorial Prize in Cryptological and Computational Sciences" (officially called the First Bank Prize in Cryptological and Computational Sciences in Member of Alfred Nobel), with the winner for 2014 to be determined by my committee and the main contenders for the 2014 prize being Satoshi Nakamoto, Alan Turing, Grace Hopper, Kurt Godel, Marvin Minsky, and John von Neumann.
The first winner will be announced on the same day as the other Nobels.
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I believe that if you use a turboencabulator with Dodge gears you could get it up to 50-100 TH/s with very little additional work.
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Why haven't latest development in Argentina reflected btc price.. I don't get it specially when the community seem to be big there ?!
With the currency controls it makes it impossible to get money on the exchanges. If they offered services to people outside of Argentina (writing, coding, design (logo for example)) and were getting paid in bitcoin, they'd have a good shot at protecting themselves. The problem is that the vast majority of people everywhere are in those businesses so it makes it difficult. Perhaps they could sell wine to people overseas or some other product too, but again that is limited. It sucks. The time to protect yourself is before the currency controls begin because after they begin it is likely too late. :-) |
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The most dependable route for an economy as rogered as Argentina's to get Bitcoin flowing would be for them to offer services to holders in other countries.
This. It is much harder to stop someone doing writing, web design, logo design, or some other work via internet than other things. Ask to get paid in bitcoin and then the authoritarian statists won't be able to inflate the value of your work away into their pockets. |
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Is that why Bieber is in Miami? Jk
I'd like to go to this but have some other family commitments. It reminds me of the web conferences in Miami in 1994-1995. :-)
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What factors do you think are most important in todays BitCoin value.
I think the trading pair BTC/us$ is still a good indicator if it comes to purchase power.
BitCoin now somewhat stable @~$900 is caused by?:
A few keywords...
- Law of demand and availability?
- The free market...
- Exchanges...
- Local BTC.
- Mining Hardware prices / availability.
- What is the influence of energy/power kWh price to keep a miner on-line?
- Network hash-rate.
- Services like bit-pay.
- "anonymity"
- usefulness
- market adoption.
- the community...
your thoughts and input pls.
Proper capitalization of the word "bitcoin"? |
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Development & Technical Discussion
Technical discussion about Satoshi's Bitcoin client and the Bitcoin network in general. No third-party sites/clients, bug reports that do not require much discussion (use github), or support requests.
Moderator: gmaxwell Perhaps trying the correct sub forum will get an answer. :-) |
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Bitcoin is often described as deflationary.
However, right now the inflation rate is about 10% per year.
What do you mean by that? With the block subsidy being 25 BTC/block and the number of bitcoins already mined around 12.2 million, the growth in the number of available bitcoins causes a roughly 10% per year inflation rate. This decreases each year due to the ratio changing and then of course at the next block subsidy halving in about 2.5 years now. So you are saying there are 10% more coins in circulation than last year? If so, that's "money supply" not inflation. Also, not all coins mined are in circulation. Some are lost permently. And some are in possession of FBI for example I'm not saying that, merely explaining the argument. :-) |
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Bitcoin is often described as deflationary.
However, right now the inflation rate is about 10% per year.
What do you mean by that? With the block subsidy being 25 BTC/block and the number of bitcoins already mined around 12.2 million, the growth in the number of available bitcoins causes a roughly 10% per year inflation rate. This decreases each year due to the ratio changing and then of course at the next block subsidy halving in about 2.5 years now. |
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I am just guessing that comments are turned off, at the bottom of that partisan article.
His comment: "there would be no authority which could decide how much new money to print. Indeed, the knowledge that governments could not create new bitcoins in a crisis would only increase thrift" is priceless
as it appears to be a self-admission of failure to understand the current problems with governments, banks and fiat. Implicitly suggesting that thrift is bad in a crisis (bad for who?), yet with no mention of the potentially devastating harm to whole populations with fractional reserve lending, debt and hyper-inflation.
Comments were on for me. FYI |
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If this is true - and I guess we won't know for sure until there is something official - it is great news. If Google comes on board, everyone will be racing to do so.
The guy posting in the thread certainly seemed sincere.
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What if ....
Someone was a bit nonchalant and did not back up his/her coins, but ... But he/she remembers his/her private key. Is there a way to 'restore' these 'lost' coins? IOW, is there a way to match private key and a specific address in the block-chain?
If you know the private key, then you can access the coins: https://en.bitcoin.it/wiki/Private_keyJust as if you wrote the key down or printed it. Thanks for this answer. The info reads: The private key is mathematically related to the Bitcoin address, and is designed so that the Bitcoin address can be calculated from the private key, but importantly, the same cannot be done in reverse. That's great. But, just to be sure, assume that I lost my wallet; completely, no back up. And all I do remember is my private key, can I restore (or recreate) the same wallet including all the coins? Hey, If you go to bitaddress.org and click on "wallet details" and then enter your private key, it will give you the public address. The problem is that most people can't remember their private key, but if you can do so, that is enough. For example, this private key: 5JntzqqXVhR8SBRvFWQhrtv3UXRqovnnfaij4FFT5nCAswFoqkx Generates this address: 14MR8Li8Fna4d43PfY2f2XRp6GAbPM5swJ You can go there, hit single wallet, copy the private key and then hit wallet details and see if it regenerates the address you just created. You want to be safe doing that though - off-line, incognito window at minimum, quit when done, restart, if you have any significant numbers of bitcoins there. Bitaddress.org is reputable, however it is best to be safe and those are the minimum steps I'd take. :-) |
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...
So I am going to suggest my own change/fork to Bitcoin: automatic mixing of all coins in every block by protocol design change. Then lists will not happen because lists will not work.
It's a good idea. Our only hope, really, IMHO. It would have to happen fairly soon though since the nature of the userbase is changing, and that rate of change could jump sharply.For a variety of reasons, I'm actually not especially hopeful that this will happen, or happen quickly enough. I'd planned to convert about half of my stash to some other asset at this juncture (based on my own profit level more than date) but the timings of my sales are associated with my level of pessimism regarding the evolutionary trajectory of Bitcoin. The activities and methods of the Bitcoin Foundation have contributed significantly to my pessimism. I agree. Dark Wallet, coinjoin, zerocoin (perhaps), mixing services and other similar proposals will help. The question though will become will any one be widely available before people start trying to blacklist in earnest. |
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