there are all types here on the forums but mainly it seems that we are a technical bunch working out how to understand the system that was built and poking at it, trying to break it, Most people do not understand money. so I will tell you what Bitcoin truly is

Bitcoin is a money transfer system made to exchange from one currency to another anywhere in the world. The money aspect of it is inherent in its nature... to transfer money it has to be money as well, but money with far more flexibility than normal money to handle individual preferences, it has a language of it's own to create custom financial services depending on the users needs, it is ultra secure, has little to no fees, can transfer funds instantaneously around the world with a fee based security confirmation period to guarantee transaction integrity; Bitcoin makes individuals into their own banks, it has effectively automated the banking industry.

this is a massive experiment, that is accruing data not just from the blockchain but from the people who are creating products for it or simplifying it or altering the system, you can look at the scrypt examples from litecoin, or the pummeling it is getting from satoshi dice to see how people are trying to break it and how the people themselves are reacting to these changes... it is a experiment of unprecedented proportions around a simplified system: money.

right now Bitcoin is the most secure system for transferring a Points based currency, The complexity of creating a Proof Of Work from scientific data is definitely daunting, building on top of bitcoin is the answer, the security of the currency doesn't have to be put into question.

A great aspect of bitcoin is since it can create any entity into being a bank, it means that A.I.s can use this currency to provide automated escrow services, or in the case of a system like F@H a reward system to be distributed to all data processors; now there will always be people willing to give their processing away for free but when you can see how much more powerful Bitcon is than F@H you begin to understand that not all people are motivated by complex difficult to understand values... money, anyone can understand, that is what is holding back F@H it relies on deep thinking, intelligent people... most people just want to get drunk and get lucky.

Regardless if they are contributing to society or building their own prison; people work not because they believe in the work they get paid to do, its just a job and we can never hope to motivate these people with our values, we have to work with the values they have been brainwashed into accepting.

so all we have to do is convince the people at Boinc to provide a fee based processing system, and with the new breakthrough in Homomorphic encryption we can now process private data from corporations and government without them worrying about us working for the competition. So relax brother we just have to wait for someone to implement the Bitcoin pay per cycle system and they will see how much more people get motivated to help the rest of humanity.

 

So what would be the ideal programming language to build Bitcoins succesor?

bitcoin
tenths
Cents
thousanths
millionths

Insane! but it will be done sooner or later.

Physics and Proteomics, and other sciences can be used for a proof of work.

but the math required to convert a SHA256(simple algorithm) into a currency that by decentralization can verify problems of hundreds of orders of magnitude greater is a very daunting task.

One would be to find primes, if someone created a prime based currency it is possible, to create new money each block would be finding a new prime found at a specific time and easily provable by dividing it by something other than 1 or itself.

complex proteomics is a level of mathematics that would as well be easy to verify but very hard to reproduce the results, the need here would be to supply enough genetics problems for the network to use... what if you run out? and when you fold or simulate a molecule it is random when someone will find a solution.

same for a massive science initiative where all atomic properties are recorded and slowly new molecules and particles of ever increasing complexity are being simulated, The block ledger for all these examples would time stamp when the solution or simulation was completed and would easily be verifiable by a computer but very difficult to create. 

With these initiatives and the soon to be turned off GPU power aligned to these projects massive processing power can be used to maintain the networks security, slowly going form simple molecule simulation to multi cellular simulations of DNA, Cells, entire organisms and maybe entire ecosystems.

so yes it is possible to create a proof of work made from scientific data, it is nothing more than math and even the Cheats would be creating particles to be simulated that had some value since a complex molecule would take the same time to simulate as a useful one from stanford.

That... is, amazing...

How do you filter a malicious program from your network if it is encrypted?

Morphological A.I. intelligence, controlled awareness of functions in a robot?

Encrypted OpenSource data processing for safe delivery from Business to Open Source Research programs, people can outsource their private research to gpu farms without need of a security provider.. wow.

Homomorphic encryption is quite shocking.

Could be from england? Where in the hell would they call money Coin? I'm thinking like old english crime movies, or in those planescape/Dungeons & Dragons games, but thinking about the mint Gold coins? Law? There are a lot of different places where they call money coin, who knows but it definitely feels like it's from fiction or a bad translation? BitMoney/BitCash could have worked too.

Can you imagine one day a scene from avatar with this change.

They can fix a spinal, if you've got the Coin. But not on vet benefits, not in this economy.

The strong prey on the weak. A guy with a Knife took all Tommy would ever be, for the Bitcoin in his wallet. 2154... a Bitcoin would be worth millions.

I figure the multiple coins can be made for reward purposes, a sort of complementary coins accepted for their benefit to society, accepted by those that believe in the coins cause.

the reason I chose 2.1 billion is exactly about the resolution. with all the alt-coins out there, I figured it would be necessary to be able to exchange between coins with worths of over 1 million per coin vs those with single digit coin worths.

but yeah the Bitcoin chain is secure for that, but i thought that if two chains were created, one that keeps the ledgers record and another with public and private documents that the ledger references, built in a distributed manner to have that data available for everyone to see. This would cause an evolutionary pressure for contracts to be built better with millions of examples to source from for any single individual or organization to asses.  For the public good you know plus an encryption system so private contracts can only be seen by authorized parties.

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according to blockchain.info

1: 28 million dollars every 24 hours are transferred worldwide

2: 5200 US dollars in transaction fees that is .96% of the miners revenue of 550,000 US dollars
   that's 5200USD for 56 thousand transactions valued at 28 million so that is .0002 of the total value.

3:324,000usd per 24 hour period,


but you have to remember the fee system has not been eased in yet, so we will get a taste of the future once we see the transaction limit being met, after that it's anyone guess,
no transaction limit? a market concensus will be created with ASIC farms charging more for their services than anyone with a lesser system, basically verification centers.
   

I like that idea, but Bitcoin is a whole nother animal.

the Bank has gained a massive weapon with bitcoins, they can monitor the effect of their investments worldwide to further calculate the probability of a ventures success by following the blockchain, also dead beat loans with the infrastructure that banks have(credit agencies) plus the blockchain means they can study the patterns that develop from abusive people with test loans, plus that API can make the bank build stipulations to their loans to make sure they are used properly, like a time release system for a loan, release amounts only every couple days.

also to maintain a fractional reserve system, credit cards demand a minimum payment every month to maintain their stocks a similar system would be implemented in bitcoins with stipulations on withdrawals amounts, we can learn from the current system, just need more bankers on these forums.

Yup Satoshi was awefully sneaky, What is more powerful than money in our world today?

this is a great idea OP, it serves as a global time-stamp for patents and legal documents, it is free and viewable by millions of people.

right now Bitcoin is the best network, but it is also a sound design, creating a double time stamp attack is insanely hard to do with several years of data built up, even just a few minutes would be hard. but you don't need that level of security, just do a pull request get the source code from github and ask for help on making the necessary modifications to the source code so that it is suitable for patent and legal applications. After all the security of the blockchain is secure the moment it is in the chain, all future patent trolls will have a hard time refuting the past.

and I agree legal documents suck, can you believe someone made me sign a contract and then did modifications to the contract later without letting me know, I didn't approve of those modifications, your idea is gold.

so I'll give you a few pointers on what you will need to do this right for global adoption.

the currency amount needs to be transferrable to other currencies, so you'll need to extend the limit from 21 million to 2.1 billion with a block reward every 5 seconds of 420 coins. I figure 5 seconds will be enough time to connect to thousands of nodes around the world and still give the chain the time stamp necessary to prevent someone from stealing your idea via a file download and time stamp. the 420 figure is just to prevent people from using the altcoin as currency instead of a legal document ledger while the currency builds up to it's total 2.1 billion to be distributed over the same time span of  140 years. there will be days when the ledger has blocks no bigger than 1kb but sometimes there will be legal files in excess of 10mb or more if someone time stamps a book into the public ledger. be aware even at a 1kb limit that is 17mb per day, so further modifications will be needed to prevent spammers from double submitting a carbon copy into the ledger and pruning of empty blocks to save space.


also you will have to start this system on your own and have your computer connected 24 hours a day to maintain the integrity of the original ledger until you feel safe to let the blockchain survive on it's own. The moment you disconnect with your copy of the ledger while it is still in it's infancy means that there will be ASICs capable of corrupting and distributing bunk copies of the ledger, depends on the adoption rate. Take satoshis example into account two years of non stop connection time.

there are legal precedents to this, now that the fincen guidelines accept this currency as money, the centuries old examples hold up in court.  Direct proceeds of crime are refutable but as long as a honest person accepts stolen money the bank that sources that issued the money must accept back the stolen money from them.

sorry, it's a legal thing, and it's also a personal choice, but a bank as a holder of money has to accept the coins, businesses do not, Bitcoin gives people that option to segregate the coins or atleast build a profound model of how stolen money flows through an economy. A feed back mechanism to crime, we don't accept stolen coins here, and anyone who funds or accept funds from known terrorists, criminals, or corrupt organizations will be black listed by the honest members of society.

Bitcoin creates a profound change in society, buy what you want, how you want it, when you want it, but it also creates a flipside, Individuals become their own law enforcement to the laws that they believe in, We accept coins from the people we want, how we want them, when we want them.

Fund the change you wish to see in the world and stop in it's tracks the change you don't.

I think the Bitcoin system sets a dangerous precedent for the banks.  A currency that cannot be fudged at all, the total amount is accountable at all times... what is preventing the banks from doing this? What would happen if the governments began passing laws that made it illegal to have unaccountable money? I'm sure somewhere we can analyze how much money is being created vs destroyed by the central bank, if this number when added up worldwide is larger then we know that something very wrong is occuring with our financial system, banks are creating fake money by copy pasting digital numbers.

everyone pays with their debit cards now, how would you ever know that they did not have enough money? people only use cash for drug deals anyway.

originally the POW system was created to account for increases in Hardware advances and improvements in hashing algorithms to maintain the 10 minute average to prove the time the transaction took place. The further the average gets away from that 10 minute mark, the bigger the number to be hashed; So when someone gets the hash all the transactions that they have received becomes the next block.

A double spend can be done during those ten minutes if someone accepts the transaction, but will disappear the moment the first transaction is spotted in the chain with insufficient funds, so a double spend can be done with 0 hashing power on a modified client that accepts 0 confirm time. you would have to have a lot of bitcoins to make it worth your while to pull off a double spend attack with a average of 6 blocks deep cause it's going to cost you 20 million in ASIC hardware and several million more to build the VPN infrastructure to do a successful attack at the moment, which will be an easy subscription soon to cause the necessary global blockchain penetration necessary.

to do a successful double spend attack would be extremely costly, a commited attitude to construct the infrastructure, proper distribution of ASICs to points of attack worse of all it would require multiple splits in the blockchain that would be destroyed the moment the network shutdown, that is a long time to keep it going waiting for delivery of goods and most multi-million dollar transactions rquire some form of ID and lots of surveillance, you'd be a wanted criminal ASAP.

Like you said.

The people have become their own bank; Why would knowledgeable Bitcoin adopters believe the lies that are being spread by banks?(anonymous? what a joke) paypal(use it to trade on a worse system, why?).

The BlockLedger makes things very difficult when you can follow the assets of any entity. A bank/broker would have to make their deposit address public, and then you follow the ledgers trail, Bitcoin is ultimate accountability, you can only allow the things that you permit in any contract you sign. If they are not investing your BTC the way you want it to, you'll know.

Individuals being their own lenders can begin giving credit and expect returns from borrowers, follow the trail and see the health of that company or individual, and with the BTC API they can in fact become a chain of guarantee of use, the individual can become a partner; Shareholders have greater say if they so desire, thanks to the Bitcoin API a contract can be written in direct code to match the legal one.

Fractional reserve is definitely possible, with bitcoin if explicitly allowed by the lender or if they just don't care to be accountable for their money. After all the reserve is based off of future returns, fluctuations in the value of money, etc, all calculatable to a certain degree and with the blockchain those calculations become better and better everyday, because not only can you follow the borrowers account, they can follow yours to calculate when you will be coming in to withdraw your money.

Bitcoin is the most open system ever created, with infinite flexibility thanks to it's design.

I think it's amusing to think that, for years the manufacturing sector has been slowly automated, now the fat cats at the top know it is a two way street; It was only a matter
of time before someone figured out how to automate their jobs.

Bitcoin to the rescue, they'll be economy mechanics with this machine, the BlockChain.

Bitcoin cannot resolve the problem of inequality in a society, It is only a program made to let people handle money in a revolutionary way. if you wish to distribute the wealth, why not? do it, it allows a lot of flexibility on how to do transactions.

But it does give an example where the creator thought to distribute the wealth of the many who use it to the many that support it. They gave us an example of selflessness, think about facebook, ebay, amazon etc, billions of dollars worth concentrated into a few individuals no more than 10,000 people, supporting complementary businesses that pay their workers minimum wage and these jobs soon will be replaced by robots... what will happen when wealth is concentrated that heavily?

so how much is a satoshi worth now in Rubles? Yen? mexican pesos?

it ties into the topic,

What are the problems that the code creates? What problems will it cause?