This is a complaint I hear pretty often:


I think I have a pretty good understanding of why the bitcoin generation scheme is better, but I'm not going to discuss that now, my theories haven't convinced anyone as far as I know.

I propose we try it out. Modify the Bitcoin code to simply continue generating the same number of coins/time forever. You could even call it a time limited currency. At any given time there will be a limit on how many coins exist, maybe this will be god enough to lure some people who are on the limited/unlimited fence. It is still surely better than a centrally issued currency where we can't tell at what rate money will be printed or what the distribution rule will be.

The infrastructure that exists already for Bitcoin can mostly be converted in minutes and this applies to all infrastructure that will be created in the future. A BTC/TC exchange site would be trival to set up and be virtually riskless legally. This would let Timecoin piggyback on all the existing and future BTC to state currency exchange sites. Just go to a BTC/TC exchange then take your BTC to MtGox or wherever. If it catches on there will be direct exchanges I'm sure.

My point is that people don't have to be really really devoted to this idea to make it happen like the developers of bitcoin are. They only have to think that this one difference is even a slight improvement, everything else is already available, practically free. There are even a bunch of miners already set up that could switch on a dime.

If Timecoin allows for a growing market and Bitcoin does not we'll know for sure and don't need to worry about theory.

Empiricism!

Last I checked it was free unless you wanted something special, highlighted, bold, featured, etc.

It sounds like you should make your own auction

I'm considering trying to install Linux on my laptop tonight. It's pretty important to me hat I not screw up what I have. I should be able to get to exactly what I have now right, is it likely I can screw that up? I want the choice of which operating system to use on an ongoing basis, this is reasonable right? It sounds like the way to go is a "live CD" will a 4G memory card work since I don't have a blank CD around? Thanks for any help.

I'm glad you found a solution. Micro-payments aren't a problem for bitcoin, but they are for the dollar   

Looks pretty good. Still more fees than I pay at my bank. I'll probably do it, but the fees aren't trivial. $24 to start, $5/mo, $4/atm, $1.5 POS.

Nevermind, they want photo ID, phone bill, and a phone call. And they call it anonymous, tricky tricky.

I agree.

Another difference is that when gold or silver are 'lost' it simply means "expensive to recover, we'll get it later when it's easier or when it's more valuable". It's pretty rare for gold to be transmogrified into lead or something, it usually just gets lost in the water to be found later.

I don't think there is a bubble either, but why would high volume imply that? For example, didn't houses turn over faster during the bubble than during other times?

The velocity point is something I hadn't thought about. I think there is a tendency for a finite currency to gain value over time. This reflects the fact that someone who works first and waits to enjoy the fruits ought get more. This should keep the velocity from absolutely exploding.

I think it's essentially as good as the euro, less maybe 2-5% if you want to get it back to bank money. You can actually get a premium from some people if your willing to trust their Paypal.

He means "How long ago could bitcoin have been viable?" It would have had trouble taking off in 1990 even though implementing it would have been possible.

Haha, I get it now.

What year did 50% of people have high speed internet? It would suck to get the block chain on dialup.

Yeah, of course the rate will change with the market. I just wanted to get an idea of the premium. Even the $200 seems kind of high. I guess we'd all be better off if the limit was more like $500 or $1000.

I'll probably still do it, just to have a quick bitcoin cashout method, but I don't want to run a lot of funds through at a 10% cost, especially knowing most of it probably goes to a damn bank and not you.

what the hell? We just agreed it would be 1.30, are you a cheater?

Thanks for all the info. The $200 limit means it won't be a full replacement for my bank card. I won't be able to buy airplane tickets and cruises with 4 separate debit cards. Also it would be annoying to have to run it all the way in order to do a max fill, etc.

I'm still interested though. Are you going to announce rates soon? Maybe an early adopter special?

You misunderstand. As mentioned many .com names are squatted including this one. There was nothing at the page, but someone had the name.

Wow, this seems great. No names I assume? Fee from Visa for using?
 
Does "an additional percent" mean 1%? That's pretty good for this service imo. Do you have to pay a fixed fee per card? Is there some minimum you want for the initial fill?

This feels too good to be true, can I fire my bank now?

Is there a max that can be on the card? I suppose I could have a few cards, right? Is a lost card like lost cash? Is it possibly to get a replacement, or two identical cards to start so my wife and I can share?

Do you plan to automate refills? How long does it take from when you get the coins until the dollars are on the card?

Do you mean that you own a grocery and want to act as an exchanger? A sign and a computer and a stash of coins should do it. I'd imagine you'll get questions and it would be nice to have printed info to hand out.

A price is a ratio. Everything's price has an inverse relationship with the dollar. If a dollar gets you less of something now, then that something gets you more dollars than it used to.

Gold/Dolar will go up for two reasons imo. It will go up because everything will go up (dollar going down) and because it is a money and as it becomes widely used it will gain from network effects.

The same goes for bitcoin, but I can't tell how much bitcoin will hold back gold-as-money-use.

That's right at market rate. .225 * 1.32 = .297