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When someone pisses me off, I just click ignore too. Even if I intend to read their posts later, I will just temporarily unignore. That way they have a slightly greater chance of having their ignore button "lit up" to everyone else. If I had an app to toggle a big ignore list when I sign in/out I'd use that.
Andrew, have you considered starting an Osiris portal? I feel like a P2P community ought to use P2P communication, although I personally don't have any major issues with the bitcointalk moderation.
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Let's assume we model Bitcoin swarm behavior with game theory. In this case 1 BTC is the payoff and if I increase it to 2 BTC this is a more attractive payoff. If I program a Bitcoin miner to maximize his BTC profits, he will opt for the 2 BTC chain.
Of course, you are completely right that Bitcoin miners do not work that way. They are human beings and not just game theoretical agents. They know about dilusion and inflation and therefore will not readily switch to the 2 BTC or the 11 quadrillion BTC chain. Thus, we cannot model Bitcoin swarm behavior with game theory alone. We must look at human consensus and at economic aspects. So let us do so...
However...we now realize that this provides no final answer as well. Most states, share holders, companies, federal reserve banks know about dilution and inflation, nevertheless they, as human beings, still decide to accept a MINOR form of if...a bit LARGER form...since it worked out...again a bit LARGER...and...ooops...we have a financial crash.
So, wy should Bitcoin be more stable than the dollar, when the Bitcoin system inherently has the same problem (human beings making bad decisions) as the dollar.
I must admit that I get some pleasure from thinking about this theoretical issue and trying to find an answer which Bitcoin mining cannot compensate. I am interested whether this model is correct or my line of reasoning has a flaw. I am interested which mathematical / behavioral mechanism could eventually provide for some ultimate stability in Bitcoin (which, as mentioned above, it does not have in it's current form). Compare with the dollar: It HAD a gold standard - until the president / fed abolished it. What would prevent miners to abolish the current limitation system in BTC...and opt for a 51 BTC per block chain (or, rather, 14 quadrillion in the end).
Miners could "merge mine" both chains at once at no additional cost, assuming their only difference is block subsidy. Some alternative cryptocurrencies already have higher relative block subsidies. During the P2SH dispute a lot of people got in their heads that miners determine the rules, but it's really more a matter of consensus between users. If some miners started trying to mess with the subsidy, all the clients would reject it and use the original blockchain automatically. |
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Why should the bitcoin community consider his whining if he doesn't want to discuss this issue in an objective manner? Bitcoin: an anonymous* digital currency! * You just need to disclose irrelevant personal financial information on a public forum. |
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Lately I've been investigating how to better decentralize prediction markets. Although custom smart contracts in a cryptocurrency blockchain would be nice, this isn't realistic yet and I'm not skilled enough to even define it properly. So for now I've been messing around with Open Transactions. Although a server is trusted to process transactions, the server's power is limited. Eventually many servers will work in unison, storing your bitcoins in multisignature transactions to prevent one rogue server from stealing them. So it's not 100% decentralized, but this will improve with time. One thing you can do is issue and trade your own "basket" currencies. For example, I can create a basket worth (1 BTC + 1 NMC) and sell them bundled together. This feature could really come in handy for predictions! Let's say I create two currencies... (1 BTC if event X happens) (1 BTC if event X doesn't happen) ... and then put them in an "event X" basket. I then sell these baskets for 1 BTC each. If Alice wants to bet that event X will happen, she buys a basket from me for 1 BTC and offers to sell the "doesn't happen" half. If Bob wants to bet event X won't happen, he can buy the "doesn't happen" currency from Alice. Once the statement reaches its conclusion, I place an offer to sell all the BTC 1=1 for the winning currency. Advantages: - Separation of powers between issuer and server
- Strong anonymity for bettors - even the bookie doesn't know what you're trading!
- Better resistance against hackers (especially once OT supports multisignature transactions)
Disadvantages: - Bookies can still steal everyone's bitcoins and run away
- OT is still brand new and isn't ready for prime time yet
In theory one can create a smart contract for multiple voting bookies (to reduce the risk of theft), but I haven't quite gotten there yet. The important part is that this can be done right now using existing software, reducing the barrier to entry for all you would-be bookies who don't want to run a website. |
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But I didn't want to send that money, that's the strange thing. I didn't send that.
Oh OK I think I misunderstood. So it's showing a 1 BTC send in your Bitcoin-Qt transaction history, but in reality no send has actually occurred and you never tried to initiate one. Correct? |
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Have you tried just re-sending? Maybe there was a brief network outage or something.
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It looks like your second transaction (the one with 1 BTC) was never sent; blockchain.info doesn't even list it as unconfirmed. The problem is with the client that currently holds 27.5 BTC.
Are you using the official "Satoshi" client? How many peers are connected when you start it up?
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Has someone been deleting posts?
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Oh and BTW, I've been an SC/MC$ supporter from day one Digital signature or it didn't happen. But of course you're just having fun with us morons, so you won't actually substantiate any claims.  |
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Wired could have at least chipped in a couple coins towards the bounty if they needed a transcribed copy that bad. Leeches I tell you.
They did better: free publicity! It's not like any of us computer nerds see their ads anyways. |
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No one could actually be THIS bad at promotion... Maybe notyep is just a misguided Bitcoiner who is trying to be a strawman. Is there any confirmation from RealSolid that notyep is in any way affiliated with MicroCash? Any denial of it?
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I estimate with medium confidence that the rest of you (who hadn't previously read this) will find it interesting. Bitcoin isn't as helpful to criminals as I once thought - they've already got plenty of cheap, simple alternatives like MMORPG items.
Thanks SgtSpike!
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Donated 0.2 BTC since I'm cheap.
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Maybe I'm thinking about this one aspect a little too much, but WHY ON EARTH would anyone ever use any cryptocurrency that had ever at any time been closed-source? Even if MicroCash had its source available prior to launch, SC2 didn't and including those coins taints the entire chain. It's essentially a premine for people who trusted RS.
Who wants to reward the sort of moron who actually invested in SC2? That even on its own is a huge deterrent. The only conclusion I can draw is that they are not expanding their target demographic of complete idiots. They could be building a whole new pyramid without starting atop this one's unsound foundation.
I have half a mind to immediately fork it to FairCash or whatever just to mess with them, but I can't solve the double-spend problem either.
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bitcoin uses very little bandwidth, therefore it can easily be disguised as harmless data (stenography). no need for encryption, which is vulnerable to man-in-the-middle attacks.
Would you please explain? |
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Tenebrix invented to keep CPU mining worthwhile, using Scrypt.
Tenebrix was created to beat SC2 as the first CPU coin. ~BCX~ Yeah like I said, to keep CPU mining worthwhile. SC2 doesn't need miners.  |
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Given that the network is ~11 TH, you'll need 12TH to over power it, equivalent to 480 Mini-Rigs. At $16000 each, that's $7,680,000
So as of this writing, an attack on the network would cost as little as $7,680,000
This is assuming you could get 480 MiniRigs delivered (which BFL wont/cant do), and do it before anyone else gets to power theirs up which would raise the "legit" network hashing power.
Plus electricity during the attack, plus manpower to set up all those rigs and defend against any retaliations. |
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The OP was about banks. Maybe you should read it?
I was searching for how late in the post the word "bank" is first mentioned, and realized it doesn't appear in it at all. The post is about lending. Well, for other reasons: Mainly because these "rich" are able to lend out money they don't even have in the first place, and maybe more importantly because they are being bailed out every time a borrower has problems.
He didn't literally say "bank" but I don't know of any other rich entity that gets bailed out in the way described. Don't get me wrong, I understand what you're saying; it is POSSIBLE to ethically lend fiat at low or no interest without accepting bailouts. But in a market where some participants get bailed out, those who don't accept bailouts will be unable to compete. You would either * Charge customers enough to stay afloat and your rates are higher than big banks - everyone borrows from them instead * Charge customers the same rates as big banks - your investors pull out in favor of safer options like the big banks |
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I like how you decentralize the exchange by centralizing it on GLBSE.
Yeah. I don't get how this is decentralized. I gleefully clicked on the title expecting something else too.  |
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money is pretty tight with just my living expenses though I do have some extra time to kill bout an hour or so a day so im just wondering if i could convert that to bitcoins?
Other than the various Bitcoin jobs sites that might have short simple jobs, nothing really springs to mind - myself I just work a regular job for as many hours as I'm willing. There are also a few bounties here: https://en.bitcoin.it/wiki/Active_Bounties |
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