Did you tell MtGox to send them to an address on your client at home?  And did you give your client enough time to download the blockchain?

Not unless you're doing it.

No, and there doesn't need to be.  Bitcoin.org is irrelevent to bitcoin, so is this forum.  That said, if/when such things start to happen, you might want to download Tor and explore the deep web.

Savings equals capital.

Debt does not equal capital.

Therefore government debt is not savings.

Any such savings has already been stolen.  Furthermore, if the repudiation of government debt results in the nation becomeing 'poor' by any metric, then it already is and simply hasn't come to that conclusion yet.

No, it's not.  Not if we are talking about the same thing.  It is not possible to reverse a confirmation of a transaction, and thus double spend, without 50% or more of the total network hashing ability.  That is shown in Satoshi's white paper.

I would have to say yes, but the answer depends upon who you are.  Like anything else, including inflation, there are always those who benefit.


The entrepreneurs who couldn't get financing were likely not a good bet.  The investors who lost profits because of deflation were betting on inflation.  No harm was done to the economy at large in either case, since the last thing an economy needs is more bad investments and failed entreprenuers.


That's true, but not particularly relevant.  Those two types of events are not actually related to one another.  The vast majority of economic crises that occured before 1913 (When fractional reserve banking was pased, allowing a loosening of the gold standard) were business cycle related, not monetary events.  The two exceptions that I can think off were SPain when they stole tons from the Incas and flooded Europe with gold, crushing economies around them including Britian and France; and the California Gold Rush, which experienced huge inflation West of the Rockies but still managed to spur industry in the Eastern states, particularly in the manufacture of tools.


That's part of the 'creative destruction' of a (more or lesss) free market system.  So yes, some guy who invented the car powered by forward facing wind turbines or the water fueled engine not getting funding is a positive adaptation.

The zero line on an inflation/deflation percentage graph.  The line dives toward zero as the inflation rate is reduced until it crosses the zero, and is thus in deflation.

Please refer to the above comments upon the guy who inventedthe water fuelled engine.  Some loans are best not issued.


50% in one year would be huge, and would likely destroy an economy.  As far as I am aware, however, such a huge deflation rate has never occured in the history of currencies.  The reverse certainly has, however, and inflation rates over 50% APR  have preceded the hyperinflationary destruction of a currency in every case that I know of.

Inflation rates that high are easy, it just requires that the institution in control of the currency run the printing presses to do it.  I can't even fathom a scenario wherein 50% APR deflation could occur, because once the currency has been issued even theat same issuing institution would have a hard time getting enough back to destroy.

1) It would never be presented like that and...

2) that's not how it really is anyway.

As I have already mentioned, Granny doesn't have any savings, because the government has been robbing her savings the entire time to pay for her parents' retirement and other current costs.  So, in the long run, the Millinials are going to look at it like ending SS is just ending an ongoing fraud.  They might feel for their own grandparents, but most middle class Millinials grew up with parents who were finacially burdened, while their nearly retired grandparents had accumulated vast assests, regardless of how good their retirement plan was.  Most of them aren't going to buy the crap that ending FICA taxes upon themselves (thus ending SS) is going to actually result in Granny eating dog food.  More likely she might have to move out of the $350,000 home that was paid for and into either a much smaller apartment or a retirement community.  Granny doesn't drive anywhere but church and the grocery store in that Caddy her late husband bought anyway.

They might, but Boomers are too proud to move in with their children or grandchildren like their own grandparents often did.  So I really don't see this happening on any great scale.

But just getting blocks in doesn't cause any damage, you have to be able to overwrite prior blocks, which isn't possible with less than 50% of the total network hashing power, and still isn't terriblely likey at 51%.  Thus, you are correct guessing that 70% is a more realistic number.  In order to assault the blockchain in real time, the attacker would have to be able to seriously dominate the entire honest network.  However, if the attacker were building a chain in secret, he could possibily build one in secret that overwrites a prior block to reverse a transaction wherein the attacker previously spent funds.  But this kind of attack is damage limited to the person who was dealing with the attacker, and he would still need enough of a majority to build and release his chain before any new checkpoints have been added.

Ownership boils down to a generally recognized legitimacy of possession.  If the civilization in question doesn't already have a generally recognized chain of legitimate possession, then it's not a civilization.  The two rules don't address those  particulars any more than it addresses the particulars of what defines "encroachment" in this context.

The vast majority of that $11 Trillion that is "owed" to US citizens is owed to Baby Boomers.  When the Millinials grow up, they will be a larger voting block than the Boomers; but before then there will be a point that we cross paths, as the Boomers die off and Millinials reach 18 years there will come a point that the votes are in balance.  It's this point that those who hope to get (re)elected will be pandering to the Millinal generation.  And if there is one thing that is consistant about that generation, they identify much more with their age peers than their grandparents.  Once one guy gets elected with a platform that can be boiled down to "screw the old, I want mine" then it's all just a matter of time.

Somethings seriously wrong, then.  Mine is on my SD card, and my SD card is only 2 gig and does fine.

Did you have a point?  Or even an on topic train of thought?

I've always thought that the "tipping point" was closer to 12%, but yes, this is pretty much how all things happen.  Things are considered "mainstream" once they cross that threshhold, and hold mindshare in roughly one-eighth of the target population.

Talk about waste!  Turn off your mining rigs until September!

I won't claim that deflation is good in general.  Having said that, your statement that deflation hurst investors and entrepreneurs is faulty.  It may be true, or it may not be true.  5000 years of gold deflation implies that it's not true, since investory and entrepreneurs alike tend to adjust to the conditions just fine.  It's only in the period of crossing the zero that tends to screw things up.  The financial markets, as they are, would certainly be harmed, but that is because they were built upon the foundation of continuous inflation.  They, in turn, were built upon the institutions destroyed when the gold standard ceased to exist.  I'm sure that they will adapt, eventually.

Again, an assumption for which you cannot support.  Nor can I, but I'd say that your assumption is incorrect.  50% deflation over what kind of time period?  Certainly 50% deflation has be experienced before, and over long enough time frames that those who lived during those times considered it as normal as inflation is considered today.

You are correct.

Won't matter.  If we were trusting in the people to understand money or crytography, and how it's in their interests to drop govco and use Bitcoin; we'd be screwed.  The last guy to finally use bitcoin will be because everyone else does, not because he makes a rational, educated determination of which is the better monetary system.