Yup, everything as expected. As he said, the back wasn't even rubbed off. In addition Jermainé included the receipt which makes the transaction even more trustworthy. A++

Coins sent, Transaction ID: 26531a600bc01ea005d07a11dcc7bae9e5e85222167954a23bd1cb40378c44b6

Yes, they can take up to the first 100 addresses because they were pregenned.

I'm considering starting over myself.

Yes, I mentioned a website in my first post. It has advantages because you don't need regular access to the net if the service is hosted. However it carries counter party risk that has plagued bitcoin start ups.

That being said, I don't feel this is a priority at all. Maybe this could be a second tool that connects via rpc. There are a lot of ways to implement it without introducing these features to any specific client.

It seems like a scam gone wrong. Probably they didn't understand that you could lock them out of Paypal and CC when they agreed.

This would be fine if there was a lot of lead up time. Both my work and personal life often puts me into places where I'm completely unconnected to the internet for up to two weeks, and when I come back I don't always go through all my email immediately either. Currently, I use BillPay linked to my bank to ensure that all of my bills get paid. Another risk to the relationship here is an email provider suddenly flipping a switch and trashing these payment requests as spam.

I'm not saying I won't subscribe to services because there's no autopay service, I just know that if I do, then sometimes I'll forget to pay an sometimes I just won't be able to because I'm away.

One client feature I would like is recurring payments. I want to subscribe to services with the ability to turn off that subscription, but I don't want to have to remember. I might even use a website wallet for this feature.

My comment was a joke. AIG insured practically anyone against default on mortgages leading up to the 2008 crisis. Their inability to price the systemic risk in their mortgage default insurance was a key component in the liquidity crisis we are still facing. Every large bank had massive exposure to them in their mortgage backed securities, and AIG had no realistic way to repay what they owed before the federal government stepped in.

I just saw an interesting parallel.

This should be moved to auctions.

And what are their personal dealings with Trendon Shavers aka pirateat40?

Were they involved in the mail fraud scheme that Sonny Vleisides was indicted for?

Armchair detectives need to know.

On the question of is it possible, yes it is theoretically possible to see a block submitted to the network and then publish that block quickly from a highly connected node and it will look like it came from you. So maybe that's what they are doing here.

To be clear, though, the coins still go to the address in the generation transaction, so they can't steal your coins. It just makes it look like the block came from a different IP.

I still don't think that applies here.

Received.

Sorry, I thought you were Etlase2. It does matter if the coins are held by 1 person or 1 billion because the effect Etlase2 and I are talking about is how newer money released into the market gets a higher value versus the existing savings (called the Cantillon Effect). But that this is effect is similar to when one person releases savings: they get a benefit over the other people in the economy. For example, if there are 1 billion people with savings and 500 million decide to spend all their savings at once, then the value of the savings of the other 500 million will be worth less for some time.


Well, that's just, like, your opinion, man. It seems you are too upset to really talk to about this. You think it's egregious that people who have money before you can get a benefit, and I understand the principle even if I don't agree with it in practice. I personally feel that individuals get a minor advantage when they use their savings, and because this is limited in scope and it is tempered with opportunity costs, that it is not really an effect worth worrying about.

The awesome thing about my stated philosophy about what is right is that you are free to choose that monetary system that you think is best and doesn't have this effect that seems to upset you so greatly. I still think a system like bitcoin is miles better than what we have and is the best at what we've come up with.

If you want to know what I think is right, then I think it's right to allow people to choose their currency with the understanding of the pros and cons of that currency, that way when something occurs against their favor, it was ultimately their choice that lead them there, and not the use of force. I don't strictly think that Bitcoin is more right than a private bank issuing notes, but that it is a more moral situation when both exist and people can choose.

If you want to know why I think the old man situation is better when choosing a currency, this is because of the limited scope, the incentives are set up for him to not just take him money off the market or if he does, for him to reenter in stages at different value points, again limiting impact. The numbers you give look bad, but they assume a mythical person who owns half the coins and suddenly wants to get out entirely all at once. It's an extremely unplausible scenario while the Wall street bailouts have happened and continue to happen (QE3).

This is just the early adopter argument dressed up with economics equations. But I'm not jealous of early adopters, I think they took a risk where they didn't have to. They all could have all eaten BTC10,000 pizza pies, but they didn't. Worrying about them is like worrying about people who bought gold at 200 and Apple at $50. They might dump and get a large benefit in front of everyone else, but the worry of that shouldn't detract you from getting in.

It's hard to say. With the exchange at $12, electricity at .15, and reward at 25btc, I'm still showing a profit for most GPU setups at a difficulty of 5,000,000, and I haven't updated the GPU section of my spreadsheet in a year, so there might be better ones in terms of performance. In this case MH/J is the most important factor.

As an aside BFL FPGAs are just above 11 months ROI under that circumstance.

I'm not really sure since I don't self mine, but I assume it would pick an address in its wallet automatically with an option to override. I would look more into it if I were you though. I would assume you've found a block by now, so look at it under block explorer and see what happened.

They do go to your wallet, assuming you put an address in that wallet in that block. For example, look at the first transaction in
http://blockexplorer.com/block/00000000000000a4d73468e752d7eb54ac8de5c131188361a811676ecbd67228
and you'll see it specified an address as the destination for the generation of the block.

However, it's not immediate. You need to have 100 confirmations after you mine a block before the network recognizes that you own the coins, so it's going to take about 16 hours 40 minutes to show up.

The old man benefits because he planned for his future by saving, and also incurred years of opportunity cost by not employing his dollars in a different way, allowing him to get a limited advantage that will approach an equilibrium, versus the current system where the advantage is manufactured from thin air and awarded not based on foresight, risk management, and sacrifice, but on nepotistic cronyism employed to bail out the most egregious risk takers, creating a moral hazard that forces an continuous exponential expansion with no chance of equilibrium.

But other than that, I see how it's kind of the same.

The current theory is that the chips are made and the ones that don't rate 5.0 GHps get put into the Jalapeno pile.

It's hard to know without knowing your electricity rate. On top of that, we don't really know how quickly ASICs will come online. If I had to guess, though, I'd say mid-January.

Shit got more real than telling on Trendon to dad when the SEC started soliciting for witnesses.