lol, what happened trying to follow the saga.  Are they going to take them all down SC, IX, IO, and NC?

I wrote copied this from the ixcoin site off a Nasakioto post.  I think the 20055 was just to set the difficulty algorithm and switch to the new client?  Don't know.  The first retarget is 20130 I think.

The next difficulty adjustment will be at block 20130 and I believe we are around 20090 at the moment. It should be reduced to 4K from 16K. After that it'll readjust every 144 blocks for a target readjustment every 24 hours.

http://blockexplorer.sytes.net/

The name is a joke.  It is to take the power away from miners that only waste electricity for unions and give it back to the community.  Barrack Obama and Jerry Brown have made more money off bitcoin than anybody else.

The real name should be bountycoin

I thought of a new currency.  It is based where 10,000,000 are pre-mined then a ledger is developed and all the coins are given out as bounties.  A 100 posts on this board might get you 1000 MRI.  A block explorer/exchange/wallet 10,000.  Then when the block chain starts 36,500 a year or 0.36% inflation is given out to make an equilibrium with what is lost.  This amounts to 100 per day for mining as permanent inflation. 1 minimum transaction fee which is destroyed.  Yes, I know weeds started out this way, but there are no bounties for weeds.  A dictator decides how the bounties are delivered.  Dictator gets to keep 25,000 MRI.  Attempt will be made to give all bounties out within 1 year.

lgpl, bounty

Thanks a static fee is best.  Maybe $1 USD equivalent per transaction.  Hopefully to be destroyed to create deflation to facilitate gdp growth.

If you use bitcoin it would be like paying in cash.   If you buy a car, 1 day is not too long to wait.  I don't know how much block header uses in total space so you could lower the block generation time 90%, but I don't like the idea of the fastcoin to be used for store transactions directly.  The stone money was never used.  You could also put coin on 10 ewallets over $3000 on each and just use ewallets for the transaction to divide risk.

The 2.4 hour or 1 day delay, will slow transactions.  You will save all the space of the header of the block.  If you have to wait 1 day you are going to send more money to a wallet, thus even less transactions.   I am thinking it might be possible to have automatic updating of the wallet.  When the block is about to be deleted, during the 2.4 hour wait.  Software will check to see if any of the coins are still valid.  The software will update the new coin to a block.  Whenever you send or receive a coin all your coins are sent and all the receipients coins are sent and combined to make a wallet.  Thus your wallet is just 109 coins and not 20 24 27 2 2 4 15 coins.

I really don't like the idea of mining and hope owners of the coins protect the network.  Thus, I think after the original coins are distributed, mining will give virtually no coin.

I have the same ideas, and came up with a solution in fastcoin.

I think this is a much below average year.  The east coast hurricane was a dud, and that is the only hurricane we have had.  The drought in Texas is probably worse than the fires.  The tornados were a very big deal, I heard the insurance companies had to pay out more for that than Katrina.

1. I should have probably move the upper date to 1971 or 1933.  We were on a strict gold standard and the debt of the United States was flat. That will increased productivity resulted in deflation.  It is to be noted, even when we were on a gold standard banks made loans far bigger than reserves.  At times the government or banks would demand real money gold or silver for the fake money paper, which caused a lot of problems.

2. I here about it all the time, but bitcoin can easily be lost with a keystroke.
3. Yes, but compared to bitcoin they are small.  Especially now when the nickles and pennies you lose are more expensive to make than the face value of the coin.

We should set it based on the inflation of deflation they caused based off national debt.

CarterCoin = 5% inflation currency
Reagancoin = 15% inflation currency
BushIcoin= 15% inflation currency
Clintoncoin = 3% inflation currency
BushIIcoin = 15% inflation currency
Obamacoin = 15% inflation currency

The present interest rates on money in your checking account in terms of value is negative 5-20%.  If you could earn 5% interest your money would be shrinking.  All you have to do is look at change in m1 money supply.  money supply chasing goods is the value of money.  m1 is the closest factor to loose spendable money in the economy.  m3 such as 5 year cds is locked up and does not effect the money supply as much.   There will be inflation the lag has not hit yet.

If interest rates are zero, their money will not grow in the present dollar world.  However, in cryptocurrencies their will be some deflation.  From 1840-1914 there was basically deflation overall.  When you get a job, you don't get a raise but your money is worth more with time.

Savers money can only grow if interest exceeds inflation, or there is deflation.  If interest is zero, bitcoin will far exceed dollar deflation due to lost coins.

Does Apple use bsd code for their os and konqueror code for their browser.  Bitparking is just going to lose out and allow other exchanges to grow stronger.  There are 3 other exchanges, and some open source.   solidcoin making their code non-gpl or non-open might be a mistake.  But, maybe not if people were just going to exploit it.  yes, solidcoin used 99.9% of bitcoin code and knowledge to make his client, but the guy is young and a little upset all the time he spent can be gone with a few clicks. 

To me the concept is not the licenses, it is the power of a full reserve, non-inflationary currency not based on gold.  If he succeeds god bless.

If you have $10,000 in the bank and cars drop to $500, I buy one.  The cost of a trip to Europe drops to $100 I go on a trip.  People don't sit on their savings.  They spend it.  They earned it.  They work to earn money, to take trips and buy cars.  Their money will go further.  Government making money out of nothing is no more moral than throwing grandma out of her house, taking $20,000 of her $100,000 savings every year. Then kicking dirt on her while she is laying on the ground.

Obama and Reich are no more than asshole bullies that make money worth less, they make unemployment higher, make work conditions worse, force workers to work longer hours for less pay, make school more expensive, destroy the middle class, make healthcare unaffordable, EVERYTHING THEY PROPOSE does the exact opposite!!!!!!!!   

You have $10,000 in the bank and now it is worth more.  That is GOOD for the economy.  The saver can go to the store and now buy 2 cars instead of one.   This is the only reason I am interested in cryptocurrencies, they are like full reserve banking and a gold standard tied into one.  Fuck the banks, fuck the people who live on credit, and double fuck the government workers that spend even though the credit limit is hit.

EVERY recession and depression was caused by banks, loans, and or fractional-reserve lending.


http://en.wikipedia.org/wiki/Panic_of_1837  Banks spent money they didn't have and only accepted silver for deposits.

http://en.wikipedia.org/wiki/Panic_of_1857  Look at the picture, notice the bank run.  Fractional reserve, the banks loaned more gold than was in the banks and stole the people money.

http://en.wikipedia.org/wiki/Panic_of_1873  Look at the picture.
 
http://en.wikipedia.org/wiki/Panic_of_1893 Banks over spending other peoples money on railroads.

http://en.wikipedia.org/wiki/Panic_of_1907  Look at the picture, bank loans for spending on stocks weeeeee.

 

I hope so, hope they give me a bounty.  I am not here to write code.  My mind is 47 years old and not sharp enough anymore.    I want all the coins out in one year to make the block chain even smaller.  Why fool around?  May want the money supply to attempt to mimic the dollar which is about $20 trillion. Thus we all will be millionaires.  I may want 1/10th of transaction fees to be deleted to create some good deflation.  A 1000 FC coin transaction is 30 FC, with 27 going to miners and 3 to deflation.  However, lost wallets and expired wallets might be enough deflation.

"-> I personally think that inflation > deflation."

You must either be a neocon or a democrat.  Inflation is never good if you use the coins and don't have any loans outstanding.  If your a miner inflation is good because you get to steal off the workers and businesses.  If you are a government inflation can be good because it is a hidden tax.

Thanks for the responses.  Radeonvolt, I think I can change some settings before I compile as root and it might work.  atitweak is a very nice tool, however, the 1.175 voltage remains same when I check status.  I will try RBE when I really need it.  The cards undervolt easily with MSI afterburner on Windows.  The 5830 voltage sticks with radeonvolt.

The whole idea of fastcoin is to keep blk0001.dat growth as small as possible.  It does this by having 3% fee.  Cutting the block after 1 or 2 years, and generating blocks every 2.4 hours.  If bitcoin was under the same scenerio, I think the blockchain would presently be growing about 1/4 mb-day.  You would transfer say 10 fastcoin to instawallet or mtgox or mybitcoinwallet to be used as your wallet.  I suggest the wallets also be part of a ring where each is given a 5 digit code.  Thus when you buy something from a retailer you use a fastcoin code and a five digit code.  But the fastcoin coin of the wallet is a fake code, it is an internal wallet code.  The vendor must belong to the wallet.

The vendor never accepts fastcoin directly, except for large purchases like cars and houses, even that would be done by the wallet, since there is a receipt and paper trail.

Fastcoin is just the decentralized center of the currency, that is the real money.  The wallets are the fake money.