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5621  Economy / Marketplace / Re: Bitcoin Delivery Service (Chicago) on: December 17, 2010, 10:04:41 PM
Oh, I misunderstood that the Bitcoin Delivery Service is about delivering parcel for bitcoin.

Oh, maybe I should clear this up. Thanks.
5622  Economy / Marketplace / Re: Bitcoin Delivery Service (Chicago) on: December 17, 2010, 10:00:14 PM
Is anything getting delivered?

I send the coins, he picks up the cash. So no, he doesn't deliver anything, but a smile.
5623  Economy / Economics / Re: Inflation and the end of 50 BTC per block (from technical discussion) on: December 17, 2010, 09:28:57 PM


If I had 50BTC and thought that it would deflate incredibly, I'd be waiting until 0.00005BTC would pay my rent before I'd use it, I'd have a million "units" to play with.


Obviously we can't tell if this is true, but you should now that it is an amazing claim. suppose rent is about $1000. You would have about a billion dollars in value. But in order to get you you would have had to refuse to spend a single coin when you had merely $100M dollars. Can you really do that? Can you turn down a brand new sports car or a house 10x better than your current house because it will cost 5% of your wealth? You won't want to give anything to people you know you need help? Or less happily, need an expensive medical treatment or pay ransom for your kidnapped daughter.

When people have more wealth they are more likely to spend some. There is no deflationary spiral, and equilibrium emerges.

The reason there can be a spiral in the inflationary direction is because all that is happening is small pieces of stained paper are going back to it's non manipulated price, roughly zero.
5624  Economy / Marketplace / Re: Bitcoin Delivery Service (Chicago) on: December 17, 2010, 09:16:50 PM
To the windy city. Should be there for a few days.
5625  Bitcoin / Development & Technical Discussion / Re: Exploiting Special Properties of Bitcoin For Uses Other Than Currency on: December 17, 2010, 12:49:57 PM
I dont get why people want to introduce incidental things into the currency chain.
If you want a different purpose start a new project.


I don't get why someone wouldn't. If everything is set up and nothing can prevent it, why build a new one that will be weaker? Even if it did damage bitcoin that isn't an incentive that will keep people from doing it. If this is a problem for bitcoin then bitcoin isn't that good since it gives incentives, apparently, for exactly this kind of use.

I'm not saying that I think it will be a problem for bitcoin. I'm saying that problems for bitcoin are not an effective deterrent and you either need to consider that a weakness of bitcoin or simply not a problem. I can't make up my mind, but I'm leaning towards "not a problem".
5626  Bitcoin / Bitcoin Discussion / Re: No coins generated in 708 hours, normal? on: December 17, 2010, 06:57:53 AM

Update: Currently there are 5 million bitcoins, with an exchange rate of $0.25. Clearly there is hording, artificially raising the price of a bitcoin. Classic pump and dump.

Might we get a definition of hoarding? And some examples of currencies that aren't hoarded and/or are a classic pump and dump? I'd like to understand where you are coming from.
5627  Bitcoin / Project Development / Re: Operation Project Wonderful (225 BTC PAID) on: December 17, 2010, 06:53:55 AM
I pledge 15 BTC for advertising.  What address do I send coins to, Kiba?

Hey. I forgot you! The 15 BTC weren't worth enough dollars to be able to deposit into projectwonderful. Do you want a refund?

Does this mean you don't want to accumulate small amounts of coin and convert when it's enough? I'll give 10 BTC if it'll eventually trickle in.
5628  Bitcoin / Pools / Re: Cooperative mining (>1500Mhash/s already, join us!) on: December 17, 2010, 06:51:07 AM
What exactly do I put in the shortcut target to connect to this server? That is how I do it right, I don't go to the site given with my browser, do I?
5629  Bitcoin / Development & Technical Discussion / Re: Exploiting Special Properties of Bitcoin For Uses Other Than Currency on: December 17, 2010, 02:22:03 AM
If I wanted to timestamp a hash in a publicly obvious way to prove later that I had known an idea at a certain date... I don't need Bitcoin.

I would merely go put the hash on my user page over at Wikipedia, and then perhaps remove it so it is visible only in the history.  The edit history is visible to the world, probably will never get erased, will get mirrored a ton, everyone understands what Wikipedia is, and there would never be any need to start explaining to the baffled ladies and gentlemen of any jury what a block chain is and how it proves anything, never mind a hash.

Except that it means you trust wikipedia as a robust website that won't be destroyed or altered in a foreseable future.

The advantage of bitcoin is that you don't have to trust anyone in particular.


Oh yeah, maybe it does need something like bitcoin. I'm still unsure.
5630  Bitcoin / Development & Technical Discussion / Re: Exploiting Special Properties of Bitcoin For Uses Other Than Currency on: December 17, 2010, 02:20:50 AM
If I wanted to timestamp a hash in a publicly obvious way to prove later that I had known an idea at a certain date... I don't need Bitcoin.

I would merely go put the hash on my user page over at Wikipedia, and then perhaps remove it so it is visible only in the history.  The edit history is visible to the world, probably will never get erased, everyone understands Wikipedia, and there would never be any need to start explaining to the baffled ladies and gentlemen of any jury what a block chain is, never mind a hash.

I think this illustrates why we don't need to worry about DNS data filling up the chain. Since there are cheaper ways to do it, people will not throw away money paying fees. Some people thinking bitcoin is an efficient way to do it might try for a while, but that's no worse than spam imo. Maybe better since it doesn't have that malicious feel.
5631  Economy / Marketplace / Re: Buy CO2 with Bitcoins on: December 17, 2010, 02:17:53 AM
You don't and neither do CEOs there companies need it during production when they billow black smoke into the air.

CO2 is black? I don't think so. They must need other permits for the black stuff, can we buy those here too?
5632  Economy / Marketplace / Re: Buy CO2 with Bitcoins on: December 17, 2010, 02:16:39 AM
Tell me if I have this right.

Some countries require you to buy a permit to release CO2 into the air. They pick how many to issue. I imagine it varies over time, probably increasing year by year. When you buy a permit you drive up demand for permits. Won't this simply allow the country to increase the supply without the price dropping? Do you need to have the assumption that people in government don't want to increase the revenue of government in order for this to decrease carbon output? And then, even if they hold steady on the total amount then the price of producing goes up and production moves to other countries that don't have this system.

If you care about emissions I think the effective path is to lower your demand for things that require emissions. This will reduce the profitability of these companies and there will be marginally fewer of them.
5633  Bitcoin / Project Development / Re: Statistics for the wikipedia Article on: December 17, 2010, 02:08:09 AM
cool, thanks.
5634  Bitcoin / Development & Technical Discussion / Re: Exploiting Special Properties of Bitcoin For Uses Other Than Currency on: December 17, 2010, 02:03:36 AM
If BitDNS or <other programmers pet project X> becomes conjoined to Bitcoin, I am instantly selling all my BTC and leaving.

This seems like an overreaction. If some junk transactions come in that's okay, but if the transactions mean something to some people then it's awful?

That is what we're talking about right? A system whereby "bogus" transactions are interpreted in an agreed upon (by some people) to mean a certain thing. Is that right? I don't see a big problem here, maybe I'm not getting it though.
5635  Economy / Economics / Re: Inflation and the end of 50 BTC per block (from technical discussion) on: December 17, 2010, 01:55:43 AM

There would be no limit to how big of a hashing "supercomputer" I could build, because brute force hashing is so easily parallelized and scaled, there's no engineering difficulty on how to make all the chips interact with one another, because they never have to.  The maximum power of such a supercomputer would be limited merely by the quantity of raw materials available to crank out copies of that chip.  Naturally, it would be worthless for anything but hashing.

My guess is that SHA256 is so simple to implement in silicon that it's within the grasp of undergraduate-level engineers.  It is orders of magnitude less complex than MPEG.

Such a chip would blow GPU's away on two fronts - one on the hash count, second on the cost, because all the wasted resources and engineering that normally goes into a supercomputer useful for solving really complex scientific problems (or a GPU to solve problems necessary for 3d graphic rendering) could be entirely skipped. 


Interesting. This seems to imply that mass hashing has never before been needed or else this would already be in production. Was the "hash over and over until you get below the target" idea really a new creation and not borrowed form somewhere?
5636  Economy / Marketplace / Re: Site idea: btcTunes on: December 16, 2010, 12:07:57 PM
What I would like to see more in music sites is a bounty + exclusive release system.

For example, everytime the artist releases a new song, the 30-second sample is posted on the website. The artist can define a bounty and a timeframe. Fans can then pay as many Bitcoins as they choose into the bounty account (perhaps above a minimum, also set by the artist).

As soon as the bounty is reached, the mp3 file is made available only to those fans who have contributed, perhaps a month before it is released for sale to the general public. If the bounty is not reached in the specified timeframe the Bitcoins are returned to the fans.

edit: coming to think of it, this is more a ransom than a bounty, but I think ransoms work better for music than bounties because music is such a subjective emotional good that it's hard to for the listener define in advance what she wants.

I love ransoms.

I'm sure it'll be implemented in many ways in the months/years to come. I think my favorite way would be to say "Hey guys, new song/album here's a sample. I'm going to release it to everyone with no restrictions as soon as I get XXXXBTC in donations. If you don't make it, no problem thanks for the support anyway I'm absolutely going to share it on February 29th no matter what."
5637  Economy / Marketplace / Re: New Exchange (Pizza4BTC) on: December 16, 2010, 11:48:28 AM


I moved some pepperonis around.
5638  Economy / Marketplace / Re: Selling pastecoin.com Auction on: December 16, 2010, 06:10:07 AM
1BTC

Do you have php skill to maintain and improve the site?

He could always resell it for something closer to the real value if he can't.
5639  Bitcoin / Development & Technical Discussion / Re: Exploiting Special Properties of Bitcoin For Uses Other Than Currency on: December 15, 2010, 10:55:54 PM
Oh boy, it seems people will never get over this intrinsic value fallacy.

It's actually funny... one of the advantages capitalism brings is specialization. Not only skill specialization, but resources as a whole. Always trying to use the best cost/effective material for a certain purpose.
So, why do you people want money to be useful for something else? Why, particularly for money, people are against specialization in the use of resources?

Money doesn't need to have other uses. Actually, I dare to say it would better not have other uses.

And, by the way, why would one want to use money to timestamp stuff? Can't there be a cheaper (= most efficient) way to do it?

I absolutely agree than intrinsic value is a fallacy, but I still see possible value in putting other things in there. I'm not sure what, at least for now there is nothing I'd like to put in there.

I can see how people are annoyed though, when it becomes 'cool' to encode things in the chain fees will start pretty much immediately. Then we'll see what the best use of the chain is. It won't be spam, it might be money only, or money and other stuff.
5640  Economy / Marketplace / Re: BitcoinGateway.com - BTC & MtGoxUSD via Visa/Mastercard (US only) on: December 15, 2010, 10:47:45 PM
Just an FYI, I take identity theft very seriously.  In fact, one thief has already attempted a number of fraudulent purchases on BitcoinGateway.com.  Luckily I was able to speak with the actual card holder and have since forwarded all communication I had with the thief to the cardholder.  Hopefully they find the bastard.  It's that type of sh*t that are going to make normal people (and governments) scared of bitcoin.

Incidentally, the cardholder had no idea what bitcoin even was (not surprising) but was impressed overall upon further review Wink

That's my rant.  Happy bitcoining everyone!

Wow, that's actually a really good advertisement to that guy about bitcoin imo. Bitcoin businessmen are careful and responsible etc.
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