http://au.news.yahoo.com/thewest/a/-/world/10063482/teen-calls-mum-as-bears-eat-her/

Olga's distraught mother Tatiana listened on a mobile phone as her teenage screamed: "Mum, the bear is eating me! Mum, it’s such agony. Mum, help."

"Mum, the bears are back. She came back and brought her three babies. They’re... eating me.

"Mum, it’s not hurting any more. I don’t feel the pain. Forgive me for everything, I love you so much."

Some cheaper video cards don't even have fans.  Could they burn out from heat?

What will need to be done is some way to simplify and clean out transactions over a year old.




So then my idea makes sense.  Take like 0.01 transaction fees and then miners get so many coins (e.g. 50) and subtracted the transaction fees from the coins generated.

Transaction fees appear to be added to bitcoin later on.  Did Satoshi plan on this at all?





Well we'd need people honorable.  Like American CEOs when they mess up, they get a huge bonus, then flee the corporation.  But Japanese CEOs take pay cuts.  http://www.escapistmagazine.com/news/view/111963-Nintendo-CEO-Takes-50-Pay-Cut  or I suppose one eventually may commit seppuku.

Maybe it can be built into the software where there is some kind of innate transferability with bitcoin.  Something will eventually replace bitcoins, but it could be maybe not for 10 years.  But when it happens, it needs some built in system to guarantee some way to pay some token value to bitcoins so they don't crash to worthless, but just crash to low level.

Guys, we are not supposed to make new cryptocurrencies with the purpose of making money on them by mining.  This is all you ever think of!

To make a proper currency, it needs to fix all the problems with bitcoins, or as much as possible.

Here's main ones for people adopting it:
1)
Forget the wallet websites which get hacked and aren't the purpose of bitcoin.  Download the software and start it up.  Well, despite that bitcoin has been around about a year and a half and hardly has been used, it takes minimum 60 hours on a high speed cable modem to finally download all that stuff from peers.  And then it stores that stuff not neatly in a bitcoin directly, but it hides it in some windows directory.  I don't know why it takes so long since it's only about 750 megabytes and that takes me under ten minutes to download that off a torrent.

But imagine ten years from now with bitcoins actually being used a whole bunch and then a newbie tries to start bitcoins and they have to download 100 gigs of stuff.  And the peers go slow so it'll be very long, maybe a month of running the client.

When I've transferred my wallet.dat, I have the same thing of having to download all the transactions again.  This is really bad.



2)
Despite all this CPU power devoted to mining, they can't use it to make transactions not take hours to complete.

In http://solidcoin.info/faq.php it mentions, "A pump-n-dump is when a large mining operating (known as a pool) decides for some reason to mine another chain than Bitcoin, usually for profit purposes but in some cases for malicious/childish reasons. They mine and mine, until the difficulty is so high it's no longer profitable, they then jump ship, leaving the difficulty so high it sometimes takes months to fix."  I don't understand how this works, but mining should do two things (a) generate new coins when the currency is stagnant, (b) if there's lots of activity then it should not generate any new coins but simply process transactions and take transaction fees, something fixed at like 0.01 coin.

Yes, about part b, I am serious.  We have enough bitcoins so mining ideally would stop generating coins.  This needs to be based not just on transactions but on the general money flow and it needs to be done in a way so people hoarding coins and sending it back and forth between their wallets can't cheat this.  I posted in https://bitcointalk.org/index.php?topic=111.msg927#msg927 "Will occasional losses of bitcoin wallets limit available maximum bitcoins?" and even Satoshi chimed in.  But well with this idea, if there's not enough coins in circulation, then it'll make more but when there's plenty in circulation, then miners are paid transaction fees instead.  And so it's not 100 coins a block, then 50, then 25, then none but let's say it's 50 coins a block minus transaction fees.  So if there's 40 coins worth of transaction fees, then miners get 50 coins but only 10 new ones are made.  And if there's over 9000 coins in transaction fees, then miners make a lot in transaction fees.  This way, miners are paid to process transactions.

Also solidcoin made its blocks at 3 minutes.  Thinking ahead, these should be 30 seconds maximum.  Since miners either join pools or have fast hardware, this won't be an issue.  I personally think 5 seconds would be ideal and then basically 5 seconds and then a fraction of a coin.


......


Okay well if you guys think of more, let me know.


Now once an alternative is done, that's not it.  The creators need to mine it harder than the founder of ixcoin mined coins.  They need a couple million coins sitting in a trust.  These are not to be sold, but to be used should bitcoin or some previous cryptocurrency completely turn obsolete.  Then people with the bitcoins will be given some value for their coins based on the honor of the founders of this system.  This way people have faith in bitcoins and this new system too.  This is extremely important once something replaces bitcoins.  Founders mine lots of coins, then hold them to support the previous cryptocurrency.

Obviously the people starting it need to be honorable.  If you make it just to make money mining, you are doomed.  When bitcoins began, it was an awesome idea and coins were worthless and wasn't about mining to get you rich, but a long term investment in a fixing internet commerce.

Just wondering.  I am buying a card purely for game playing and games like Star Wars Knights of The Old Republic 2 only run on NVIDIA cards.

There's ways to set up and go through lots of PayPal accounts without linking them and withdraw the money, but it's a lot of work and it would mean charging a high commision to buyers, which I'm not sure people would be okay with.

Is there anything on the internet that can be linked to a currency system that if no one wanted to use the currency system, what it's linked to would still have some worth?

Like if we used unique non-fake nude photos of celebrities as currency, well they'd be worth something.

I looked it up and you were right.  Oh and I read both his books for free too, but offline.  Public library.

No matter how much good people hear about Ron Paul, fact is...

Ron Paul does not believe in evolution and thinks it should not be taught in schools.

Libertarians consider him a bad example.

http://whistleblowers.posterous.com/dailytech-inside-the-mega-hack-of-bitcoin-the
"The Diamond Age: Or, A Young Lady's Illustrated Primer, in which digital cryptocurrency was mentioned as a driving force that eliminated the nation state by destroying their ability to collect taxes from citizens."


Two thousand years ago governments collected taxes like this...

They went around and depending on how rich you were, they just told you it was tax time and to give them money.  If you were poor, you gave them something else like food (farmer).  If you built something and lacked money, you might build things for the government.

If all the rich have their money in bitcoins, they'd be like, "Give me some of your valuable paintings, jewelry, etc." though you could also just pay them bitcoins instead but they'd take something.


And actually this would be a better form of taxation.  No tax loopholes or anything.  The government just surveys your place, sees you have a lot, and they take it.

Oh and as for hiding stuff, they were always going around thinking the rich and sometimes the poor were hiding things.  In movies about 1500+ years ago, they governments sent armies around to find people's hidden assets.

But yeah as I said, the governments can always tax people.  And if they tax based on wealth instead of all these loopholes, then it distributes wealth better...  well... except that the wealthy influence government too much.

I was planning on PayPal to freeze my account at some point.  I just can't have it happen too often unless I can find a way to empty a PayPal account without withdrawing it to a bank account or requesting a check.

I thought that was the novel he wrote where he pretended Alan Turing was still alive.  Crypto-something.

I could only do this for USA buyers because of how PayPal's seller protection policy works.

1) Someone sends me money via PayPal
2) I then ship to their confirmed address with delivery confirmation the cheapest first class way which costs a little over $2 with packing.  The post office must not screw up and must get delivery confirmation to the correct zip code, as sometimes they put the wrong zip code.  If they amount is over $250 then I need to ship signature confirmed, but I would prefer not to get large amounts in one transaction.  If the buyer is buying something else online and shipping starts after they sent the payment, then I can use that tracking # instead.
3) Then I subtract shipping cost (unless they supplied a tracking # for me) and PayPal fees from the amount.  I then take a small commission to cover my other expenses (which is mainly dealing with PayPal and all their verification processes and stalking, but also is the commision from buying bitcoins and then transferring it out to my walet).
4) Then with what's left over I buy bitcoins.  I then send the bitcoins to the buyer's bitcoin address and email them an invoice.



If people are interested, I could start this up.

I read that book 10 years ago and it was really really sick.  But I don't remember a cryptocurrency in it.

@payb.tc

I was refering to the graph.

@Jack of Diamonds

That's just who hangs out on these forums, not who mines.  I'd think we'd have a lot of people mining from third world countries.

The drop has happened earlier than I predicted.  I wonder what the price will be in a week's time?  Will it continue to fall or will it rebound back to its original $10?

There was a movie based on this idea about 20 years ago.

I did something similar except I put them all into bitcoins and when they were $14/coin too!