I need a port forwarded from a publicly-accessible IP address to a tor hidden service. 1 BTC for a month, with discussion of renewal when the month is up. PM for details.
You can't just run Tor? I'd bet he's tried already. Tor is actively blocked by most employer access policies these days. |
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On a fundamental note: USD is soon going to go into hyperinflation:
Actually, no, it's not. As bad as that is, the hyperinflationary stage of a fiat currency always requires a political driver. Not to say it can't happen in the near future, but there would still need to be some major black birds landing on Swan Lake. Mild inflation favors the banks and those closely connected to them, but they know that massive inflation kills the golden goose. The central bankers would not permit such inflation rates unless they are forced into that position, which for all practical purposes means that political authorities have forced them to do so. In the case of the Wiemar Republic, that political force came from outside the country. In the case of Zimbabwe, it was a misguided series of political decisions by an uneducated dictator with tribal tendencies that none of his yes men had enough balls left to say anything. Not to derail the thread but don't you think there's plenty of political motivation right now? Unsustainable spending and debt levels will certainly encourage the money spigot to continue to flow, even if the political class denies it. There is far more motivation for that then to drastically cut spending. In addition all it takes is one major creditor to decide our bonds aren't safe and it could start a run, with the Fed as the only remaining buyer. Don't get me wrong its looking more and more like another deflationary scare this summer first but that'll just be an excuse to print more. I agree the bankers prefer the slow and steady inflation but I think they're finally losing control of the system. On a bitcoin note who's rooting for 18?  A sovereign debt default by the US is not just remote, it would signal to the world's bondholders that there was no safe haven left on Earth. Gold, silver and some classes of commodities would shoot for the moon, but that is not the same as inflation. Inflation, at it's core, is expansion of the monetary base beyond the growth of the underlying economy; which favors those with first access to the new currency. Hyperinflation, therefore, is the panic expansion of monetary base by political will. No bankers would voluntarily do this, they would rather have massive deflation because with deflation at least their con game could potentially resume after the crunch. Once hyperinflation begins, there is no historical evidence that it can be stopped prior to the total destruction of the currency itself; if for no other reason than the public has already lost trust (in the government, in the currency itself) and will actively avoid transacting in the currency at all, and when they must will actively avoid holding that currency. This results in a massive increase in velocity, as every buyer is trying to spend what they have before the value goes down further. If this were to happen to the US (not impossible) where then would the wealthy find haven? I'll take the Austrian definition of inflation as an increase of the money supply, period. Even inflation that only keeps pace with economic growth still robs the people of the increased purchasing power they would have had if the inflation had not taken place. Rising prices in gold and silver are not inflation per say, however they are the "canary in the coal mine" that to a certain degree indicates inflation expectations. I agree that hyperinflation is not in the interest of bankers or politicians, as hyperinflation represents a loss of control over the system for them. My argument would be that we are actually in the early stages of this happening, and Bernanke and his political buddies are trying to orchestrate just enough inflation to make the debt level manageable while retaining confidence in the dollar as a safe haven of value. I cannot imagine at this point that there are many sophisticated investors or major governments left that actually believe in the strong dollar policy. I wouldn't be surprised if many of them are actively trying to dump US bonds without tipping off the market that that is their intention. A true debt default by the US (meaning an acknowledgement that they will not honor payments) is extremely unlikely, which is why they will go the inflation route instead, and blame rising prices on anything but their policy of printing money. At this point they are between a rock and a hard place: Default and declare bankruptcy, or print and risk loss of confidence in the dollar. I just can't imagine a politician standing up and telling the people "sorry, we can't pay you your social security this month because we owe China their interest payment". You just described a political trigger. I have already acknowledged this possibility, although I don't consider that likely considering the number of inflation hawk in the House. I was merely contesting the implication that hyperinflation is a monetary phenomenon, and could be predicted with economic tools. |
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I can't say I understand what point that you were trying to make, but I can say for certain that not all people react in the above generality. I am an INTP, it's not in my personality makeup to reject new data lightly, nor to take much stock in the opinions of others.
Do not take this as an ad hominem - just think about it before you have the 'automatic' (emotional) response - but what kind of a personality "does not take much stock in the opinions of others"? A trusting or distrusting one? Pretending that we do not use emotions, in addition to data/logic/facts when making decisions, is, in my view, deadly. If it were a matter of pretending, I would agree. I did not have any emotional attactment to Bitcoin or it's success when I learned about it. I had no opinion about it until I understood it. But once I understood it, I had an opinion.
At the core of who we are, we're driven by our emotions as well as reason.
Do you understand what I am referring to when I say I'm an INTP? I'm just about an unemotional in my decision making processes as is likely possible. I am not driven by emotion, it has taken me decades just to fake it well. What is the incentive for my dad, who is 64, and never interacted with computers his entire life nor does he intend to, to trust BitCoin over the dollars in his pocket? It will definitely not be an in-depth analysis of BitCoin. It will be my word or other people or authority he trusts to make the decision.
This is likely true for most people, but by this point he will be using Bitcoin because that's what other people trust, not because he trusts what other people say.
Does your personality get an MD degree before you go to a doctor because you do not take much stock in the doctor's opinion?
Sans the license to practice, almost a yes.
Either you are playing devil's advocate here, or perhaps you are very young .... Again, not to berate you, but I am a little surprised you do not see the point.
I am neither playing, nor am I particularly young. Do you regularly see those who hold opinions other than your own to be inmature or inexperienced in your own mind? If your point was that emotion plays a a role in how people view Bitcoin, I think you were being too vague, but I still would say, so what? The vast majority of people don't understand how fiat currency works, and don't care. They only know that everyone else uses it. Bitcoin takes over as those who care to know, switch; and are followed by those who don't care to know. |
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i'm the last person who would cite nozick as an authority because i agree with almost nothing he wrote (except his temporary repudiation of part of it). have you read him?
Age is catching up to me, I honestly can't remember. have you even read mises?
Yes. |
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The automatic, default response to anything novel and revolutionary, is at first, denial and ultimately, acceptance while pretending nothing new ever happened.
I can't say I understand what point that you were trying to make, but I can say for certain that not all people react in the above generality. I am an INTP, it's not in my personality makeup to reject new data lightly, nor to take much stock in the opinions of others. |
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Actually I found Atlas' answers to your points pertinent and well argued. If anything he gave you proper reply, so unlike the 17yo answer your were expecting.
i wasn't expecting or asking for a reply. what he wrote wasn't even slightly responsive, however. the problem here is that people think they're offering new thoughts on grand questions that have been debated to death by countless others who have examined the propositions in much greater detail. read 'anarchy, state, and utopia' and then nozick's own refutation of it, Just because I'm amused by your opinions and your rejection of logic in public policy, I just have to point out that the above is an 'appeal to authority' fallacy. It's every bit as wrong for you to expect us to read Nozick and agree with his conclusions as it would be for us to expect you to read Mises and do the same. If you can't articulate the point without dropping names, you don't have a point. Did you learn to debate on the Internet? http://dilbert.com/strips/2011-06-03/looking for new political thoughts in this forum is a fool's exercise.
In addition to being generally offensive, this entire subject is off topic, and if you intend to continue there are better sections of the forum for this debate. |
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Technically speaking, the Forbes article did not make an error of fact by mentioning that one could buy firearms from The Arms Locker with bitcoin, as they never actually claimed that such a transaction was unregistered. Still, they did commit an error in kind by leaving the question open, which permits the uninformed reader to draw such a conclusion from the preceeding paragraphs.
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That would be true, if this were a ponzi scheme.
Supporters of the current design lose the debate either way. If the price.. 1. Keeps rising forever, then it's a Ponzi scheme which will collapse at some point. 2. Keeps rising sharply then falling sharply forever, then it's an unstable currency subject to severe manipulation and speculation. I'm still begging for one argument against my proposed stable-price system. You do realize that 1 & 2 are the same exact scenario, just stated differently, right? And both of them are also internally illogical. Perhaps you shouldn't be investing in anything. |
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Let them assume what they wish. In the end, we'll be the wealthy ones.
You're not supposed to say that explicitly, Atlas. You're supposed to pretend that "deflation is fine" or that "it will all balance out in the end". You've just broken every Ponzi rule by declaring your sinister intentions out loud. That would be true, if this were a ponzi scheme. |
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OK, got that done. Now I need a way to tell my patient's about bitcoin so they can start paying me this way!
Someone was selling Bitcoin stickers a couple months ago, including the kind that can be used by a business to subtlely notify customers in the know. I don't know if they are still available. |
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lol. All news I've seen in Swedish papers relating to bitcoin has only been good ones so far  Don't the Swedes regard the kind of low level drug trading as can be found on Silk Road to be less-than-criminal, even if they wouldn't care to have it going on at the local playground? Germans tend to be at least as uptight about other people having fun without permission as those in the US. |
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Also, turn off your current block mining. That is a total waste. I don't even know why that is still in there.
It's still in there as a form of hashing reserve. If some attacker with huge hashing resources were to start trying to rewrite the recent blocks, there is still a greater pool of hashing power that can be called upon; even if it's relatively inefficient. Basicly the cpu mining option exists in the standard client as the "ready reserve" to the gpu mining pools' "front line shock troops". |
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On a fundamental note: USD is soon going to go into hyperinflation:
Actually, no, it's not. As bad as that is, the hyperinflationary stage of a fiat currency always requires a political driver. Not to say it can't happen in the near future, but there would still need to be some major black birds landing on Swan Lake. Mild inflation favors the banks and those closely connected to them, but they know that massive inflation kills the golden goose. The central bankers would not permit such inflation rates unless they are forced into that position, which for all practical purposes means that political authorities have forced them to do so. In the case of the Wiemar Republic, that political force came from outside the country. In the case of Zimbabwe, it was a misguided series of political decisions by an uneducated dictator with tribal tendencies that none of his yes men had enough balls left to say anything. I concur. The economy is circling the drain, but that means nothing as far as monetary policy is concerned because ANYTHING BERNANKE DOES WILL BE BAD. anything. He's in a no-win situation. We could just as easily have a deflationary depression. http://www.safehaven.com/article/20703/bernankes-qex-boxexample: weak dollar= more exports, but higher commodity prices strong dollar= lower commodity prices, but less exports Except what are we going to export? We have given up manufacturing endeavors for financial wizardry endeavors and intellectual property. The US manufacturing base has increased every decade right up til the present. We make more stuff, for less cost, then ever. And we continue to do so. It's true that manufacturing has fallen off as a percentage of GDP, but it's still huge. |
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Hi, I will repost this here as the previous thread has been closed by the admin for unkown reasons / probably a lot of "deflation" posts which was not intended.
I believe 2 things are imperative
1) controlled growth of the supply as suggested by "Suggester"
Bitcoin has a controlled rate of growth. That's it's primary feature. It's so well controlled, I can predict with high accuracy what the monetary base will be years in advance, and never be off on my timing by more than +-.5%. Does any fiat currency in current use have such a record?
2) Making credit available and facilitating savings through an interest free credit/savings exchange. This will prevent "hoarding". Instead of "hoarding" the BC could be lent out to others without interest. The lender will be compensated by credit points, which allows him to get a bigger credit from future savers.
Go ahead. There is no reason that you or anyone else interested in such a bitcoin bank can't start one, but nor is there any need to incorporate credit lending into the Bitcoin protocol itself.
Bitcoins are not money. They are a (perfect) medium of exchange. Their properties are similar to gold: scarce (finite amount), divisible, stable, low volume / easy transport, secure. So they only fulfil two properties of money: exchange and storage of value. But they lack CREDIT.
So does gold. Credit is a feature provided by institutions, not the medium of exchange. Thoughts / critique / discussion welcome!
Guy
Be careful what you wish for. |
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Instead of explaining to a noob like me why i am wrong you threaten me? Thats not very friendly... You do realize that it takes me less effort to register for a new anonymous account than it does for you to ban me, rite?
You didn't even bother to ask a newbie question, you just jumped right in with "improvements" to the protocol in your mind. I find that behavior rude. It's merely annoying when a newbie asks the same questions over and over, but to waltz in here and do what you have is like a buck private walking into the general's pre-op meeting and declaring that you think that it would be a better plan to knock on the front door and share a toke. The documents exist, as does this forum's search function. You made no attempt to understand the subject, and nor were you seeking clarification from anyone, much less as humblely as you know you should have been. |
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I feel like it's being traded almost like a stock in a stock market. I don't see people buying and selling goods with Bitcoins nearly as much as I see people trading for USD on Mt. Gox. In fact, that's how the price is set, not by what you can buy with it. There is also way more supply than demand in the Marketplace forum, as far as I've seen.
That is the bias of this forum. There is some market trading on this forum, but for the most part that doesn't really happen here, as there are many other better market sites for that purpose. |
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Curently to transfer 200BTC 200 separate blocks must be updated and sent to the network.
With vertical stack only 2 blocks in gold chain would have to be updated to transfer equivalent of 200BTC. Since only updated blocks need to be sentout to the network to update all block chains this would reduce network load by a factor of 100. This will also reduce hashing load by a factor of 100.
I actually suspect that currently 1 block is worth less than 1BTC, since we can send 0.01BTC... Which mens to send 1 BTC currently 100 blocks need to be updated... I actually dont know for sure that it is 100 blocks, may be its 1000??? Someone who knows more than me can correct this detail.
You do not understand the system, but rather than spend some time reading and thinking, you jump right in with suggestions on how to "improve" upon how you imagine the system works. You have been registered for one day. Do not speak again until you can demonstrate that you have a basic understanding of the functions of the block, blockchain, proof-of-work system and transactions. I will be watching. You can consider this the penalty box. |
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Saving, on the other hand, merely involves guarding or preserving an asset for future use. It does not require an expectation of future windfall profits, or excessive acquisition of items that have little value in the market.
People save with the incentive that they will profit, otherwise there would be no saving. It seems to me to be a little disingenuous to suggest people save altruistically and hoard selfishly. There was no such intended implication, I did not suggest that saving is altruistic or that hoarding is selfish. Later I acknowledged that the term "windfall" was probably not as precise as "significant price increases". Savers do not generally anticipate significant price increases, although you are correct that they do have a profit incentive. They just do not anticipate their profits will deviate significantly from historical averages generally. Hoarding, on the other hand, generally entails an expectation that profits will be significant, for the reasons I noted above. I do not think hoarding is any more selfish or altruistic than saving. As many have noted, hoarded serves an important function for the market. The problem with "hording" is that the term has a commonly understood negative connotation, whether we would agree with your benign definition or not. |
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So, authorities can follow transactions between addresses with no names attached to them that, in the case of Mt. Gox and Silk Road, don't get reused. How would they find that useful? How is that less secure than cash in the mail?
Nobody said it's less secure than cash in mail. Just that it's imperfect. Perfection is the enemy of the good. I see a great future in Bitcoin because it's a world better, not because I think it's perfect. But even acknowledging that it could be improved does not mean that I would favor screwing with it over small gains. |
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On a fundamental note: USD is soon going to go into hyperinflation:
Actually, no, it's not. As bad as that is, the hyperinflationary stage of a fiat currency always requires a political driver. Not to say it can't happen in the near future, but there would still need to be some major black birds landing on Swan Lake. Mild inflation favors the banks and those closely connected to them, but they know that massive inflation kills the golden goose. The central bankers would not permit such inflation rates unless they are forced into that position, which for all practical purposes means that political authorities have forced them to do so. In the case of the Wiemar Republic, that political force came from outside the country. In the case of Zimbabwe, it was a misguided series of political decisions by an uneducated dictator with tribal tendencies that none of his yes men had enough balls left to say anything. Not to derail the thread but don't you think there's plenty of political motivation right now? Unsustainable spending and debt levels will certainly encourage the money spigot to continue to flow, even if the political class denies it. There is far more motivation for that then to drastically cut spending. In addition all it takes is one major creditor to decide our bonds aren't safe and it could start a run, with the Fed as the only remaining buyer. Don't get me wrong its looking more and more like another deflationary scare this summer first but that'll just be an excuse to print more. I agree the bankers prefer the slow and steady inflation but I think they're finally losing control of the system. On a bitcoin note who's rooting for 18? A sovereign debt default by the US is not just remote, it would signal to the world's bondholders that there was no safe haven left on Earth. Gold, silver and some classes of commodities would shoot for the moon, but that is not the same as inflation. Inflation, at it's core, is expansion of the monetary base beyond the growth of the underlying economy; which favors those with first access to the new currency. Hyperinflation, therefore, is the panic expansion of monetary base by political will. No bankers would voluntarily do this, they would rather have massive deflation because with deflation at least their con game could potentially resume after the crunch. Once hyperinflation begins, there is no historical evidence that it can be stopped prior to the total destruction of the currency itself; if for no other reason than the public has already lost trust (in the government, in the currency itself) and will actively avoid transacting in the currency at all, and when they must will actively avoid holding that currency. This results in a massive increase in velocity, as every buyer is trying to spend what they have before the value goes down further. If this were to happen to the US (not impossible) where then would the wealthy find haven? |
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