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No decrease marked.
Check your AMD overdrive settings in catalyst, maybe they changed. (Performance -> AMD Overdrive)
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why don't they pay people to run computational finance stuff on their GPUs? I mean if you pay more than people mine in BTC then those terahashes would be all theirs
Great idea for a business. If someone wrote the components to make this happen I'm sure there would be very lucrative applications. |
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I don't think it revolves around bitcoin either. However bitcoin now has more processing power than the combined processing power of the top 500 super computers. If this trend continues at even a fraction of it's current rate I doubt the argument would still hold water in as little as a year's time.
If the price trend continues, something that could easily happen with the advent of proper simplified cellphone to cellphone payments, then I would argue that it follows that mining interest would again peak.
As far as JP Morgan is concerned, if something does not stop bitcoin it is the end of the road for them, finish, kaput, klaar.
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Hi folks,
Since installing Catalyst 11.5 from the auto-updater my miner has been quite unstable over the past few days. Has any one else noticed similar instability with 11.5 or should I look for another cause?
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JP Morgan has the money to take over the whole network.
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Offers to sell are those above the last transaction and offers to buy are below the last transaction. Whenever someone buys some BTC they move from the nearest offer to sell to the offer and acquire the volume they want, if that is not enough the next is accepted etc. wherever they end up is the new price. Same for wanting to sell BTC. Offers cannot be skipped, the exchange takes the nearest offer and processes that.
It would not be logical for a buyer to accept a higher bid if he could buy the same thing for less, unless he was attempting to tell the market that something is worth more than he rationally would want to pay for it and that it is on offer for. The purpose of the market is easy purchases and sales and as a result price discovery. If someone did not want to move the market they could participate on the dark pool, but even that moves the market as it depletes buyers or sellers and eventually this reflects in price.
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Guys my original point was that debt based fiat currency that has to continually increase and is monopolized by a small elite via government enforcement is what is causing all the problems. Satoshi probably never seriously thought things would reach this level and I agree he may have been experimenting but he did want to create something without the current currencies properties.
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I mention your interest payments to tax income situation because if it were to return to its historical level it will break you. It will not because as you say the fed will credit the government. It is already doing this for about 33% of the entire budget! Why are you not terrified!? Funding 33% (then 50% then 90%) of all government spending will not lead to heavy price inflation, it will lead to a total loss of confidence and hyperinflation.
Social security payments go to fund federal expenditure items. Social security holds an astronomical amount of treasury debt as a result. The govt can not pay social security in worthless devalued dollars (1/10th to 1/1000th its current value) without a very adverse reaction.
The government has lost control and it must bow out and let the economy fix itself. If it is not going to go willingly then you must not be under the impression that something unpleasant of historical proportions is about to happen.
1. Im not from the USA. 2. You are 100% right in this second comment. The problem is not the debt payment, because that can and will be monetized, the problem is the price inflation that will produce (and the possibility of hyperinflation, although I think it wont happen). This is exactly what I wanted to point out. Cool then we are agreed. Hyperinflation however is a loss of confidence event when currency becomes a hot potato no-one wants to hold. |
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I just want to lulz at you Americanos for a bit. I'm not even from your country and I've seen what the federal government's finances look like.
Social security is broke and broken as are the medical programs. The official debt in your country is now so high that if the interest rates were to begin to rise the total federal tax income could soon be spend on nothing but interest payments, no cops, no military, no nothing else. Your politicians seem like children playing with matches on top of a mountain of dynamite.
You folks need to snap out of calling each other names before you start a nuclear war with yourselves as your government turns on itself and on your people! The situation is EXTREMELY dire!
While the situation of the USA government is bad, the affirmation that the income tax will all go into paying the debt is heavily misleading. In fact that is not a problem at all. WHAT?!?!? Yes, its not a problem and its easy to understand why: The bigger holder of USA gov debt is the Federal Reserve. And the interests payed to the Fed are returned to the government, so in reality those interest dont matter. The government pay them and then gets them back. No big deal. The interests that you have to look at are the rest of the interests (always discounting the interest payed to the Fed). The federal government wont default. As long as the government can keep printing money (the fed monetizing the government debt) it wont default. Its impossible. What will happen is that the monstruous monetization that is needed to wash up the debt will create heavy price inflation. The people will pay the government debt by higher prices. I mention your interest payments to tax income situation because if it were to return to its historical level it will break you. It will not because as you say the fed will credit the government. It is already doing this for about 33% of the entire budget! Why are you not terrified!? Funding 33% (then 50% then 90%) of all government spending will not lead to heavy price inflation, it will lead to a total loss of confidence and hyperinflation. Social security payments go to fund federal expenditure items. Social security holds an astronomical amount of treasury debt as a result. The govt can not pay social security in worthless devalued dollars (1/10th to 1/1000th its current value) without a very adverse reaction. The government has lost control and it must bow out and let the economy fix itself. If it is not going to go willingly then you must not be under the impression that something unpleasant of historical proportions is about to happen. |
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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
-Satoshi's quote in the genesis block
"Yes, [we will not find a solution to political problems in cryptography,] but we can win a major battle in the arms race and gain a new territory of freedom for several years.
Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.
It's very attractive to the libertarian viewpoint if we can explain it properly. I'm better with code than with words though."
-Satoshi Nakamoto
It seems to be a phrase from larger text. Extracting some sentences from their context let you interpret them as you like. Could you, please, copy/paste the entire text. Ciao. So you think he built this as his cool little side project, all the things about a limited money supply, safeguards against both govt control and malicious hacking were just nice to haves and that he did not have a fundamental problem with the current system? |
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"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
-Satoshi's quote in the genesis block
"Yes, [we will not find a solution to political problems in cryptography,] but we can win a major battle in the arms race and gain a new territory of freedom for several years.
Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.
It's very attractive to the libertarian viewpoint if we can explain it properly. I'm better with code than with words though."
-Satoshi Nakamoto
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I just want to lulz at you Americanos for a bit. I'm not even from your country and I've seen what the federal government's finances look like.
Social security is broke and broken as are the medical programs. The official debt in your country is now so high that if the interest rates were to begin to rise the total federal tax income could soon be spend on nothing but interest payments, no cops, no military, no nothing else. Your politicians seem like children playing with matches on top of a mountain of dynamite.
You folks need to snap out of calling each other names before you start a nuclear war with yourselves as your government turns on itself and on your people! The situation is EXTREMELY dire!
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for the most part, i am a democrat (and a social democrat at that). that said, i also have some veiws that are considered conservative (heavily pro gun and pro defense), and i believe in a few libertarian principles as well (im against eminent domain and against criminalization of victimless crimes)
but none of this has anything to do with BTC.
no single political veiwpoint has a monopoly on the truth or on BTC.
that is all.
Welcome in the rabbit hole brother. First goes the current monetary system, then comes monetary reform, then you abandon all hope that government will ever not sell out to the banking system. Then goes gun law, then goes eminent domain, then goes the war on drugs, then the one on terror. Eventually you understand the pricing mechanism and how a the truly free parts of the market are what builds things like cars and develops medicines and assigns resources more efficiently than any central plan could over the long run and the final vestiges of socialism appear to you as nothing more than envy based ranting. I'll see you when you get there  |
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I guess such is the nature when the opposition realizes that they are losing the argument... I imagine that the ad-hominems are not far off.
This unfortunately is the nature of debate. You have to resist the urge to simply call your opponent "irrational". If they are lashing out at you, remember you appear exactly the same to them. It really is somewhat disrespectful to blame the other person for not falling head over heals in love with your idea. If you really do wish to reach someone with something useful take them calmly through the logical steps while being yourself open to influence and possibly a whole different view of the subject. This is true even and especially the more irrational they appear. |
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If you want an exchange with a Tobin Tax, then create one. Everyone who thinks it's a good idea will trade on it. Others won't unless you force them to. We'll then let people figure out how valuable HFT is.
Ugh. This isn't how laws work. I'm not suggesting it nicely and asking 'pretty please'. Government should, can and has been used to promote justice, equality and fairness. But only if people care to use it to do so. Trying to do everything outside of the system will result in failure. Nobody here has given me any rational reason as to why HFT is a good or moral or productive or beneficial thing. Therefore it should be stopped. This attitude of "I'm taking my toys and going home" does nobody any good, including yourself. Take your light weapon, strike him down!! |
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If you want an exchange with a Tobin Tax, then create one. Everyone who thinks it's a good idea will trade on it. Others won't unless you force them to. We'll then let people figure out how valuable HFT is.
Ugh. This isn't how laws work. I'm not suggesting it nicely and asking 'pretty please'. Government should, can and has been used to promote justice, equality and fairness. But only if people care to use it to do so. Trying to do everything outside of the system will result in failure. Nobody here has given me any rational reason as to why HFT is a good or moral or productive or beneficial thing. Therefore it should be stopped. This attitude of "I'm taking my toys and going home" does nobody any good, including yourself. Dude seriously pull a gun on us why don't you |
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INJECTION
Here's an idea for critique by the no-money Venus folks. Since there are enough resources available to do anything if required, how about the following suggestion. Make silicon legal tender. This way one of the most abundant and useful resources must always be accepted in the remission of a debt. IE you have abundant money based on an abundant resource.
If someone truly believes that the ideas of the Venus project can work he can voluntarily work on aspects of it. If someone else however does not share their enthusiasm, they can voluntarily opt out but would be obligated to accept what the planners of society view as a highly abundant resource for the remission of debts against them. So now if resources are truly super abundant then it will become evident and if it is not, then that too will become evident.
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Real money can be printed infinitely and it's only backed by assurements and faith.
Bitcoins, gold, silver are scarce.
I.e. there is a very finite amount of them in the existence. Some precious metals also have real world utility that no other metals can match.
Banks or governments can't control the price of those commodities. They have tried to ban their ownership by private individuals (at least in the US) which only caused hoarding and further appreciation in value.
Similarly, bitcoins have anonymizing properties that no other digital currency can match, and you can transport them across the world in a split second.
Correctly used, the owner of any single bitcoin is 100% impossible to trace.
Clearly you are a terrorist! ;-) |
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Folks,
The root cause problem with today's economy is that money can be created out of nothing and used to buy up real world goods and services and that this right is legally centred (monopolized) with only a few people. Everything else; high frequency trades, resource miss-allocation, decreasing real wages, inflation, deflationary collapse, oil prices, expensive wars (most of the modern ones) etc. etc. etc. is just symptomatic. If this right was taken away from the banking-government elite I dare say most of the shenanigans would stop within a year. Of course a soft landing would be hard to guarantee.
Why do you think Satoshi created bitcoin?
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The need for at least a 1% Tobin tax has long been overdue. The amount of speculative money sloshing through the world markets is staggering and a speculative drain on the real economy. In addition the advent of hyper-trading and flash-trading is another toxic poison to the real stock market of capital investors, entrepreneurs and businesses. In addition, it is the most feasible way to shift the burden of closing the deficit from the backs of the pillaged and raped middle-class to the bailout taking parasites on Wall Street. If you don't know about the Tobin Tax and how it could close the deficit and fix many problems of our existing system then please read up on it. For those that have already done their homework and know the benefits that a Tobin tax would have please PM me. I'm diving into doing more 'hard research' targeted specifically at this issue exclusively in order to build my website. I need help: researching, making animated videos, website design, essay writing. If you'd like to help please PM me and we can start a conversation. Thanks. Nowhere but on the bitcoin economics forum can a man so unexpectedly and unintentionally irk a bunch of Austrian economists!  The Tobin tax is a fabric glue seal on an old high pressure pipe. The pipe, its contents, the leak and the very purpose of the system need to be questioned before applying the "solution". The system of debt based money is flawed to its very core. Patchwork will do nothing but necessitate further patchwork in the future. High volume trades are by no means bad. They act to provide price discovery as soon as possible. If you don't like what prices are telling you then there is a far deeper problem. It's like a man whose girlfriend wants to break up with him but he'd rather hear it tomorrow than today, so he prohibits her from talking! His solution does nothing but worsen his case. It is the ability to create nearly infinite amounts of credit out of nothing that warp markets in the mid and long run, not "greed", "irrational exuberance" or "pessimism".Hamilton might not be a "traitor" per se but he was not exactly for freedom and the little guy, he was for centralization and emperor like powers in the executive branch. Basically he was for everything (politically) that emperor Palpatine used to pull he's coup. |
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