The correct person won the election. She is exactly what enterprise needs to support profitable growth. There is nothing wrong with "feel good" words and cheer leading. Ask any politician about the importance of perception over substance. Politicians need two qualities to effectively lead. They need to take and follow directions from the correct source and implement those directions using every political trick in their toolkit. She should be able to accomplish the necessary objectives with her toolkit. I'm sorry Rassah, I think you're too passionate about your personal agenda for Bitcoin to ever be an effective international leader.
For the record, Rassah was on my short list. The truth is that we had a large number of great candidates....great candidates who are and will continue to be great stewards of the community. Our main goal should be figuring out how to build an effective community and I think the Foundation is part of it. Others disagree and that's ok. I donated a small amount to bitcointalk (฿10? It was cheap at the time) and some think that's stupid. I disagree (and I think history is on my side on this one). Only time will tell how effective different parts of the community are for different goals. But I think arguing that Bitcoin doesn't need any community at all is foolish. I'm proud to be members of the same community and foundation as everyone who ran. Each deserves a hearty thank you for stepping up to be counted amongst the doers. |
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Apparently there aren't a lot of voters at all in this thing: https://electionbuddy.com/elections/9452/results/sdq6pd958Elizabeth only got 84, and Joerg only got 47. We get that many voters on some of our rather silly polls around here. Admittedly, one of the big reasons I don't like Elizabeth is because her campaign seems to be more about winning a popularity contest than about actual issues. She posts a lot, but much of it is "wow, bitcoin is great." And sure, she matches with some of our general beliefs, but so does everyone else who is anywhere near libertarian politically. There's not much more than "yeah, I agree with what you said" in her writing. I also just can't see her doing much more than supporting the Bitcoin Foundation in their lobbying and working within US only endeavors. So, my next vote I'll be supporting Joerg, who not only seems to understand why bitcoin might need government support, but also why it can survive in spite of it, and can see where we may be headed with it in the future, and even if Joerg doesn't win, I would support him starting up his own Euro-centric foundation as well. You can see how few votes it would take to buy the needed votes to sway this thing. The foundation is focused on growing globally (and Elizabeth is quite in support of that). I do think having BF-USA underneath a Bitcoin foundation alongside BF-EU, BF-China, etc is the way to go. Keeping us together through that transition rather than splintering I think is important. |
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Wow you must be rich now if you held onto those! How long ago where you mining at that rate? Sure, eventually there will be 100 TH/s miners.
Yikes. We need to get said devices distributed widely then. Gone are the days of my laptop generating 50-200 bitcoins a day... I got in about a week before a big difficulty jump. Blocks were being found rather fast. I mined for about a week, on and off. I generated ฿200 overnight once (which I still think is crazy...but I'm rather glad for it! http://uofr.net/~bcg/a.jpg). I generated about ฿400 ish. I "wasted" almost $20 on bitcoin on bitcoinmarket.com buying around 200-ish btc. I've got more than half of it left, but, I sold a bunch in April. I'm lucky to have gotten what I've got for essentially nothing. I mined because I believed in the idea of Bitcoin, not because it made sense economically. I'm glad I, and others, participated at various times to keep it going, even before there was a monetary value (in fiat). It's also good that there are many like me who pitched in for a short time, getting something to keep motivated to participate in the community, but not getting so much so as to ensure few people got anything. |
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Weusecoins.com is a great short video intro; I've used it twice in meetings with congressional staffers.
Coindesk.com has a ticker at the top. Great way to see price and news at the same time.
The Bitcoin Education Project (btcedproject.org) has some great material for those looking to become a local Bitcoin expert.
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Thanks for this sad news. This was the main reason for my 0.20 btc membership fee.  The intent behind the sign up deadline was to prevent someone from stuffing the ballot box; membership is cheap but foresight is not. We didn't want someone spending a months salary and buying the election. Since you're obviously tied into the decision making at the foundation, can you tell me why so many people want a German to head up a U.S. Bitcoin business organization? Joerg Platzer probably has an incidental interest in seeing Bitcoin spread worldwide. Other than that, I can't see the reason for supporting him. Our decision making process was made via a thread on our forum. I coordinated the thread and put the recommendations we made to the board on GitHub. A large fraction of foundation members are not from the US...not sure exactly how many...maybe 30-40%? I think internationalizing the foundation is critical and should be a priority. I suspect that's driving some votes. |
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Thanks for this sad news. This was the main reason for my 0.20 btc membership fee. The intent behind the sign up deadline was to prevent someone from stuffing the ballot box; membership is cheap but foresight is not. We didn't want someone spending a months salary and buying the election. |
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It's kinda pricey...and it sounds like a gimmick...it's just an über expandable kit...
I have a billion dollar block eruptor farm with 100 YH/s...it's the size of Texas but must be sited outdoors in Alaska to be profitable to run...
Does the performance / watt / dollar of their kit miner massively outperform anything else out there?
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Is this the reason the $/฿ price dropped like 10% over the last few hours?
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Sure, eventually there will be 100 TH/s miners.
Yikes. We need to get said devices distributed widely then. Gone are the days of my laptop generating 50-200 bitcoins a day... |
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$18,560 per day return. Not bad. I wonder what the cost is?
That's a significant fraction of the mining power of the network... Do you think they meant GH/s? |
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...then their salaries for working on Bitcoin will be cut  Seriously, if they were compromised, we'd lose a lot of free employees... |
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Glad to see folks here still remember this thread! Thx for jinxing it |
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The OP's point is subtle and very intuitive (if mathematically unsophisticated...but hey, not many people are, right?). He is asking will the series converge (sum of all created bitcoins) even if "we keep shifting the decimal point."
That's a very valid question and I suspect many won't understand it. Anyhow, the issue of shifting the decimal place is mathematically identical to adding more decimal places...so the question is "does the series converge even if there is infinite precision?" The answer is yes and it will converge such that you will have the same fraction of the final overall total of bitcoins created that you have today, regardless if how the decimal gets moved about.
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Were the attending community members "invited" or issued a "subpoena" to attend? The difference would set the tone of the meeting. Did the government representatives offer any advice to the Bitcoin businesses operating in the US currently as a friendly gesture to keep more seized bank accounts from happening? I'm sure Mark Karpeles would like to know how to get back his 5 million dollars.
I trust a thief in the night more than I trust the US Federal government because I always know the exact motivation of the thief.
I read a couple news articles on this. I believe everyone was invited by FinCEN. One news article said the Foundation was 'host' which fits with MSantori's account. The Foundation was essentially presenting information and answering questions about Bitcoin to a regulatory community very much curious about and new to it. The deadline for these agencies to report back to the senate is august 30...see the last paragraph on page 3: http://www.hsgac.senate.gov/download/letter-to-secretary-napolitano-on-virtual-currenciesI'm sure getting help understanding this stuff was greatly appreciated...kinda like getting tutored the day before a test... |
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I'm too dumb to contribute to the code...but not so dumb as to not contribute to the bounty. Thank you for the detailed explanation of this important issue.
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The OP is very high quality observation and analysis, and very prescient actually. Sad (in a way) but very likely quite true.
Indeed it has seemed to me at times over the past few years that 'they' were actually propping the solution up and incubating it if anything. Most clued in people see distributed crypto-currencies as a stunningly powerful thing fairly early on in their research. It would not surprise me in the least if fighting Bitcoin were anticipated by some as a rich vein of revenue and power if it could just get off the ground.
+1 That's why we need to educate. |
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