The police do have a duty to enforce the law - if you report a crime they have to make at least some sort of effort. It's true they have no duty to protect you from becoming a victim of crime in the first place, but after the fact they do have a duty to respond even if they can be incompetent.
Well which is it? Do they have to enforce the law or just make an effort? Is standing up enough effort? Do they actually need to find a suspect? Think about it for 30 seconds? If they fail to meet this requirement you imagine then what happens? Do the police investigate the failure? Or try to investigate it at least? P.S. Do I get my money back if they fail to deliver? |
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Variable does not mean endless.If the maximum limit is made linear function of number (without any proportionality constant) of nodes then if there are 2 nodes in the network than maximum coin generation cannot be more than 2 coins until more nodes join the network.
This will add scalability to the network in the sense of limit to coin generation.
What you are going to make a cap, but sometimes raise and lower the cap? That's another way to say that your cap isn't a cap. Like the debt ceiling, lol. |
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I agree it's good to discuss actual technical details/merits, but then don't call your thread 'alternative to bitcoin'. And do search the forums first whether someone (or 1000 people) had the idea before.
1000 people had had the idea of node traversal for coin generation(even if the idea is a scrap) ? Counting nodes is a natural thought. But then you have to police it. It's not that hard to make more and more nodes. It is hard to make more and more hashes. |
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If generation were not profitable, the miner would stop mining, making the difficuly lower and hence the profit per block higher. Job done. The miners will always be exactly the right number.
Of course I know it. The market will take care of mining profitability. The problem is that the difficulty required for profitable mining will be low enough for cheap >50% network attack. Bitcoin will either be always vulnerable to attack by competition or expensive. Again, pick your poison. P.S. After rereading one of the the previous threads I think I make the same argument as here: http://forum.bitcoin.org/index.php?topic=8126.0And I think that these points were too easily dismissed by the posters. It might be expensive if you were required to pay the full cost, but you don't have to. If millions of people are using bitcoin it'll be very cheap for you. |
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That's what I said!
All true libertarians don't eat their porridge with sugar.
I mean, are agorists.
Correction, libertarians that know how to use a computer. agorism doesn't require a computer. It just means actually acting on the belief that you are free. |
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Also keep in mind that as the number of transactions go up, the transaction fee reward from solving blocks will also go up.
To take the example used in the wiki article mentioned above: say the network was handling 2,000 transactions per second. This would be costing at least some people a lot in bandwidth. However, assuming a block takes ten minutes to solve, then there would be 2000 * 60 * 10 = 1,200,000 transactions in it. If the average transaction fee is 0.01, then that would be a 12,000 BTC reward for solving the block. That's ~$70,000 at today's exchange rates.
The fee is going to drop by orders of magnitude soon imo. |
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So... instead of talking about it, make it and write a paper about it like Satoshi did. It's the only way to figure out whether it will be succesful.
It's not that talking about making something better is pointless it's that people keep coming in here and saying "Hey, cool thing, why don't you make it actually do something?" Sweet rapturing Jesus, it solves an amazingly difficult problem in the world. If you have an idea for simultaneously solving this huge problem and another please tell us, but just saying it would be nice is useless. |
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There is no way to fix it. That is the normal progression of a niche forum going mainstream. That's the way of the Internet. The average poster's contributions trend toward the Internet's greater average, which is terrible. I've seen it happen on a number of forums that I've participated in.
This. You WERE in a niche forum with many like-minded people. Now, more and more people of diverse cultures, different intelligence and education levels, different age groups, different financial class groups, are all joining up. There's going to be a lot of "stupid questions", a lot of repeated answers, a lot of facepalming. Just deal with it and move on. It's the nature of an open-ended forum. Forums are not meant to be places of quality content. They are meant to be places of discussion. Start a blog and read other people's blogs if you are looking for 100% quality content. lol @ 100% quality content on blogs Sometimes, but definitely not the norm. I think he's suggesting you go read the quality ones. |
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for a peg to work... do they 2 currencies need to have dependencies on each other?
All currencies have dependencies on each other. edit: Exchange rates are all about relative supply and demand for the 2 currencies you are looking at, so they have nothing but dependency on each other when you get right down to it. There is an exchange rate between apples and lamps. I wouldn't say they have a dependency on each other. |
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I don't know the length of the number, but I know it's not a problem.
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Not exactly. I substitute teach from time to time, but I consider myself self-employed because that's what I do most of the time.
Do you know schoolsucksproject.com? Brett is awesome imo, anarchist ex-schoolteacher explaining what I'm sure you know about school, but in an entertaining and clear way. |
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1) Changing the process of mining coins
In the current model of bitcoin block is solved which is a mathematical puzzle.Instead of using cpu power (with some luck) as the unit of
creation,transfer delay between the nodes is made the basis for minting of coin.
It may be done by trying to solve some network topology problem by all nodes on basis of chance and its relative position in the network.
Why not have it make pancakes at the same time? There is a reason for the type of work bitcoin does. It needs to be checkable orders of magnitude faster than it takes to solve and smoothly scalable. If you know a set of topological problems like this please share them. Oh, and it has to incorporate data from the previous block. And not just incorporate, but there needs to be no way to do any of the work in advance. |
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Someone just make this endlessly created coin already.
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I suspect fake sales are driving down BTC. Examine large spikes that hardly move the price that also use ‘Dark pool and normal’. Co-conspirators or one person with fictitious accounts…. Wish I’d thought of it.
Good argument against dark pools... If you have enough capital on both sides, you can control the price for only the cost of fees. The market may not follow your lead, but this market has a lot of inexperienced players. This is why I made the call awhile back that when the pro's enter the market we'll see a sharp price decline. People that have the money and know-how to move markets are not going to buy at the top. Could be that right now or just profit taking by some early entrants. How are new entrants going to push the price down? Won't they need to sell coins to do that? Won't they need to buy them first? Won't that push up the price? |
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If your Bitcoins are stolen, why should the police help you?
What do you mean by "should"? I think that people should help other people because it's the right thing to do, whether from a moral position or because it's in everyone's long-term best interest. But in their role as The Police, there's not really any reason why they should do anything other than crack your skull when you aren't serving the state's interests (which are always immoral and short term). Considering the threat bitcoin poses to state power, I wouldn't expect much in the way of help from the police. Until bitcoins are declared illegal the police still have a duty to enforce the laws against fraud and trespass which would apply to stolen bitcoins. Believe me, individual police departments/officers will never go through the thought process of "this goes against state interests", they're more likely to think "wtf is this bitcoin thing? someone stole some pretend money? what?" There is no duty to protect. Not in reality and not even in legal fantasy land. |
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We do talk about "putting X in BTC", but this isn't really what happens from a global perspective. Nothing gets inside anything except from one person's perspective. When I trade USD for BTC. It feels like I'm putting my dollars into BTC, but obviously someone else is taking out the exact same amount at the exact same time. Nothing is lost or sitting idle. The same is true if I work for bitcoins. My work still accomplishes the exact same amount regardless of how I take my pay.
The reason most economists say that inflation is good is that it funds the government that pays them. It's really easy to overlook things when your livelihood depends on it.
Even independent economists will tell you the same thing. And it just makes sense, really. If you have less incentive to place your extra funds into investments, then fewer investments will be made. With fewer investments come larger barriers to entry and startup costs that have to be paid by the company founder. With fewer companies comes fewer jobs. More investment does not mean better investment. Only endeavors that make people better off should be using resources. A good currency is a guide for telling people what is creating wealth and what is not. More jobs is not necessarily a good thing. If there is a way to accomplish something with less work is that worse? I think there should be exactly the number of jobs that people want. Currently we have mega distortions. People being forbidden from doing certain things and forced to do other things or pay a certain amount and not another. This results in the loss of jobs that people actually want which is tragic. But the answer is to let people be free to work as they like or need to and not to do things like manipulate the currency so they are too poor to stop working. @SgtSpike: Doesn't that mean then that as investments decrease the number of goods and services provided will decrease in proportion to BitCoins. Therefore causing inflation until some equilibrium is achieved, though this process may be quite painful. Furthermore with FreeMoneys analysis, it seems to me the optimal thing would be the complete opposite of what Keynsians recommend, constant deflation. I understand in the USA in the 19th century they experience massive growth but with deflation on average. Deflation isn't magic. It is not the case that deflation--->goodness all the time. One could cause dollar deflation by murdering people and lighting their money on fire. This would not be good. Deflation caused by a fixed money supply and ever increasing wealth and productivity is totally not a problem. Deflation is an effect of a healthy economy, it does not make a healthy economy. |
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The "Depth of Market" chart and listing on mtgox should be taken with a large rock of salt if not completely disregarded.
1. Large orders, (the most important ones if you're trying to gauge market sentiment), don't show up.
2. Orders may be placed and canceled at whim, as you just pointed out.
3. Trading bots exist which can instantly place orders at certain times without showing up on the Depth of Market list.
There is still meaning there. When you see a bid for 10 coins at $6.80 each you know that at this moment no one with access to Mtgox values having extra coins more than that many dollars. Maybe there is a dark order at $6.82 so there is some info that you don't have, but that doesn't change the info that you do have. And you get the info for free! So you know the highest current valuation is 10 coins at $6.80, except it could be higher due to dark pools, and it could be lower because a trading bot could cancel that 10@6.80 order at any second. So I maintain that you really don't know much / you shouldn't have much faith in what you 'know.' No, regardless of there being a higher offer to buy you still no that no one has been willing to fork over $6.80 to get that coin listed at $6.80. Yes, there is a piece of info you don't have. No, you are not entitled to it. No, it doesn't change the info you do have. |
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You can't know how much difficulty is needed. It isn't like potential attackers are publishing how much power they could put together.
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I once had a roomate that lived with me that decided to move out while I was at work and steal about 8 grand worth of stuff from me. Funny thing was I know his full name and know where he lives till this day but cops did nothing but file a report and said the only thing I could do was sue him. Love how my tax dollars never do anything for me ever.  And you didn't go get your stuff? Were you afraid of the police or something? |
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Noooooo! Please leave "Generate Coins" in! I know it's effectively useless, but I'm not a miner, and I like to "generate" with my CPU from the main client just for kicks knowing there's a very (very very) small chance I'll get lucky! I know it's silly, but I like it! Pretty please leave it in!!!
I never generate, but I say leave it in a while longer. Maybe include a message saying that it is very unlikely to produce anything using a CPU. |
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