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581  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] SpartanCoin - Cryptocoin for the competitive world. on: July 12, 2014, 04:32:48 PM
Ref votes on mintpal, all we cam do is vote when we can. You know some of these coins have such big followings for a good old pump and dump were bound to be overtaken by a few.

Keep voting people
Yeah, I know.   I didn't realize that some were shooting up quite so fast, so I wanted everyone to be aware of the situation...trying to rally the troops a little. Smiley
582  Other / Off-topic / Re: is greed good? on: July 12, 2014, 09:11:06 AM
Greed is an external NEED for something which is not US in substitution for ourselves. So to that extent then, greed is a rejection of who we really are. Greed is a denial that we are whole and NEED NOTHING. Need is a dependency not a self-sufficiency. It implies that we LACK something. If we lack nothing, we are whole and complete and therefore have no needs. Honoring the self totally eliminates dependencies like greed
I'm curious what you mean by this.  Could you elaborate a little more?  How do you figure that we need nothing external?  Don't we need food, clothing, etc.?
583  Other / Off-topic / Re: is greed good? on: July 12, 2014, 09:07:14 AM
"Science Proves It: Greed Is Good"

http://time.com/41680/greed-is-good-science-proves/

" Wall Street, home of the good guys? Kind of.

Egalitarianism is not all it's cracked up to be. A new study shows that inequality and social hierarchies can be good things—within certain limits.

Let us now stop and praise the plutocrat. Really. Props too to the bailed out, the overprivileged, the exploiters of the little guys, the Machiavellian narcissists who earn way, way too much and are taking advantage of the rest of us to stay that way. Oh, and let’s praise Putin too.

Greed really is good, as are income inequality, bullying across class lines and even the iron fist of the political strongman—in certain contexts, at least. That’s the conclusion of a new study from the University of Oxford, just published in Nature Communications. Using mathematical models of human social groups, the researchers found that when communities are hierarchically structured—meaning that there is a potential for high inequality too—the individuals at the top tend to make more of an effort in the interests of the group than those at the bottom, including competing with outside groups and facing potential danger in the proce

The authors detected that behavior across nearly all cultures, and cite corresponding studies of chimps, blue monkeys and ring-tail lemurs, showing that higher ranking individuals tend to venture closer to the perilous border of the group’s territory during patrols, and high-ranking females will join the males in combat with other groups. In return, the lower ranking members are allowed to become what is known as free-riders, hiding behind the skirts of the big shots and contributing little on their own. The price for this protection? Don’t cross the dominant members of your own group or they’ll direct their power—and ire—at you too.

Studies like this always raise illuminating and troubling questions and are easy to exploit by nearly anyone with a social or political agenda. (See? There really is such a thing as the safety net turning into a hammock; the makers versus the takers really do exist. Or: See? Bully-boy behavior is the stuff of the apes, something egalitarian societies—and homo sapiens as a whole—ought to have left behind by now.)

But, as in nearly all matters of human behavior, the reality is more nuanced than ideology allows for. Throughout history there is a long tradition of powerful people who serve the group in some way being rewarded with more power still. Famous generals become Presidents (Washington, Grant, Eisenhower), not just because everyone knows their names but because they’ve proven their fortitude in battle and can prove it again if dangerous outsiders come calling. If you’re confused about Vladimir Putin’s stratospheric approval numbers at home even as he has made Russia an international pariah—at least in the eyes of the West—be confused no more.

We tolerate too the enormous wealth some inventors and industrialists accumulate because at least part of the time, they make our lives better too. (Thank you for the cars, Mr. Ford, and for the iPod, Mr. Jobs.) Admittedly, we’re a lot less tolerant when wealthy and powerful people create things that benefit only other wealthy and powerful people—(Thank you for, um, the $25 million condo that nobody I know will ever remotely be able to live in, Mr. Trump)—but we’d rather have an economy that rewards ambition than one that smothers it.

Free-riding is more complex than it seems as well. There’s truth to the fact that in the past, at least, welfare could be a disincentive to work, especially when the work that was on offer was unappealing (you try working a deep frier all day) and paid little more than the free money the government was giving you. But there’s a limit to that—especially when it comes to arguments against extending long-term unemployment benefits.

Under federal formulae, a weekly unemployment check tops out at 40-50% of your last paycheck. If you were grossing only $400 a week to begin with—and plenty of hourly workers don’t make even that much—that’s a cool $200 in benefits. How long could you lounge about in that hammock? On the other hand, health insurance free-riders—people who wait until they’re sick to sign up—do represent a real risk. So the only way to make sure everybody gets a fair shake is—oh, what do you call it again? Ah, yes: a mandate.

The behaviors we share with the lower apes are there for a reason: they worked when we were lower apes, and they still do. The plutocrats, the pampered, are necessary members of a complex economy, and calls for pure egalitarianism have always been nonsense. But so is the tough-love, pull-yourself-up, no free lunch even if you’re starving ethos of the people who have forgotten—or never knew—what that kind of desperation feels like. There’s not a thing wrong with the rich and powerful, provided that they remember what wealth and power are for. Blue-tailed monkeys and lemurs do—so how hard can it be?"
The basic premise of this article seems to be that greed is what motivates a lot of people to better society and to protect it and its citizens.  Now, I do agree that this works fairly well as a stronger society/economy tends to lift all boats, especially those of the rich.  And, practically speaking, this is probably about the best we can do in the world in which we live.  But shouldn't it be possible (theoretically, anyway) to build a strong(er) society without greed?  Where people are motivated to work hard, not just for their own sake, but for the good of their neighbors, too?  Where the rich use their wealth to reach out to the poor, not to give them a hand out but a hand up?
584  Bitcoin / Mining speculation / Re: Antminer S3 - Profit is Impossible on: July 12, 2014, 08:48:58 AM
Old school  baseboard heat  heating bills are 300 a month in small 4 room homes.
 I am attempting to have s-3's mining in one or two of these homes.  This could make nice money for me and the home owner's that I recruit.

While Antminers aren't known to catch fire, be careful with extending out your liability to other people's homes.  It's one thing to mine in your own house and keep an eye on your equipment.  It's another to have somebody else's home go up in flames due to a power supply failure - and that probably won't be covered by the homeowner policy.

This kind of thing should be covered by the policy of the homeowner who has the miner in their home.  As long as they don't intentionally set the miner on fire, and as long as it's not considered to be foolishly dangerous (e.g., you know there's a like a 90% chance it will burn your house down), it should be covered.

I used to work in liability and risk management.  The majority of homeowners' policies do not cover commercial endeavors used at home.  So if you install a car lift in your home garage it would not be covered.  ASIC miners would be considered a commercial endeavor since it expressly generates revenue.  To have it covered you would need to get a rider policy.

This was a grey area with GPU mining since GPUs were not tasked for this, but with ASICs unless you want to try to blatantly lie to the insurance company most people would have to get a rider policy.
Thanks for the info.  I did not know that commercial endeavors would not be covered, but that doesn't surprise me.  Certainly if you had a whole bunch of ASIC miners it would be a commercial endeavor.  However, if you just have an ASIC miner or two, couldn't you still claim that it's a hobby if you're not declaring that you own a business (which is basically what I was thinking when I wrote my previous comment)?  Or would the definition of commercial endeavor simply not allow for that?
585  Economy / Speculation / Re: Bitcoin (BTC/USD) Price Prediction. $4000-$6500 by August/September 2014. on: July 12, 2014, 08:31:04 AM
I don't see it happening. Where is all this money going to come from? Huh
From investor's bank accounts

Not just bank accounts. It can also comes from the sale of gold and stocks. A 100x rise in the BTC/USD rate could really shake up the gold market since the bitcoin market would then represent 10% of the gold market.

Edit: Bitcoin is a direct competitor to gold when it comes to "Austrian" / "Hard Currency" assets.  
IMO, the biggest upcoming investment opportunity (and thus opportunity for a price increase) is a bitcoin ETF.  If the Winklevoss Twins can get theirs listed in the next few months, that would have the potential to bring in many more millions of investment dollars.  If that touched off a rally, all the ATMs that have come online in the last several months could add a lot of fuel to that fire.
586  Economy / Speculation / Re: Bitcoin (BTC/USD) Price Prediction. $4000-$6500 by August/September 2014. on: July 12, 2014, 08:23:16 AM
You do know what those excess reserves mean right? If they pull them out and start lending, which is ironically what is likely to happen if interest rates go UP without the bribe rate (the interest rate on excess reserves) going up, an extra $26 Trillion can work its way into the M2. That would constitute an increase greater than 200%. Thats one really wound up spring ready to snap back.

In order for that not to happen, they have to do two things. Suppress the earnings of financial institutions so owner's equity doesn't creep into those reserves, and keep the bribe rates at least as they are right now proportional to mortgage and other forms of lending that "leads into the economy."
Are you talking about the excess reserves that banks hold at the US Fed or something else?  The latest data puts those reserves at around $2.6T, not $26T.  That's still a lot, obviously, but only about 20% of M2 instead of 200%. Wink

See the Federal Reserve site for the latest data: http://www.federalreserve.gov/releases/h3/current/
587  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] SpartanCoin - Cryptocoin for the competitive world. on: July 12, 2014, 07:52:33 AM
https://www.poloniex.com/coinRequest.... everyone send it in. I messaged them back the other day... but lets send in some requests.
Done!

Regarding Mintpal, we may be in big trouble here shortly.  Yesterday, I actually recorded the top 30 coins in the running, even though I only posted a few.  Looking at some of the other coins that are still down on the list, they're catching up very fast and could overtake us in a few days if we don't really get those votes going.  This shows the change in the past day of all of the top 30 coins:

1: RDD 21487 (+761)
2: XBC 21295 (+277)
3: XSI 16978 (+144)
4: IXC 16094 (+24)
5: SPN 15438 (+209)
6: MEOW 14915 (+5)
7: ENRG 14688 (+1204) <<< yikes!
8: GRC 13905 (+31)
9: ADN 13854 (+327)
10: MNR 13852 (+929) <<< yikes!
11: 888 12400 (+105)
12: PCC 12154 (+109)
13: COOL 11813 (+963) <<< yikes!
14: BCT 11599 (+65)
15: BEE 11414 (+15)
16: PTC 11219 (+98)
17: SFR 11121 (+928) <<< yikes!
18: 66 10410 (+20)
19: BOST 10196 (+29)
20: EXE 9363 (+307)
21: OPC 9222 (+852) <<< yikes!
22: EDU 8841 (+57)
23: KTK 8712 (+212)
24: PINK 8511 (+133)
25: GOX 8365 (+9)
26: STY 8073 (+8)
27: GPUC 7912 (+10)
28: DVC 7840 (+11)
29: NOTE 7630 (+273)
30: ANI 7588 (+7)
588  Economy / Economics / Re: Does Money Even Need a Use Value? on: July 11, 2014, 05:54:43 PM
As BTC are not consumed for direct use value (like gold or any other commodity) there is no risk of a deflation caused by an sudden increase of direct use value of the commodity.

The same pertains to pure fiat (not backed by anything). Actually, that was one of the reasons it came into existence and got universal acceptance (exclusion of externalities, such as finding a gold asteroid, for example).
The correlation isn't as strong as it used to be when fiat was backed by gold, but I think that fiat is still essentially backed by the production capacity and assets of a country.  That's more of an abstract concept, but the strength of a currency is generally based on the strength its country's economy, factoring in things like amount of debt, the ability to repay debt, trust in the country/currency, etc.
589  Other / Off-topic / Re: Debt free and $ in the bank on: July 11, 2014, 05:35:29 PM
There is no bigger waste for an average individual than renting, not sure where the "stress free" is coming from, you still have to produce basically the equivalent of an interest repayment every month.

I suggest you re-purchase (unless real estate is having a bad year where you live).
I now own a home.  But when I rented an apartment, one of the best things was not having to worry about maintenance.  When something broke, I just called the owner.  That's one of the most stressful parts of being a homeowner.
590  Other / Off-topic / Re: is greed good? on: July 11, 2014, 04:37:27 PM
How can greed ever be good? It's one of the worst things about humans, but sadly I think 99% of us suffer from it.
The only way I can think of greed being beneficial to an individual is if they're able to take advantage of other people's greed, like making money off of market bubbles.  But note that I used the word "beneficial," not "good."
591  Bitcoin / Mining speculation / Re: Antminer S3 - Profit is Impossible on: July 11, 2014, 04:23:05 PM
Old school  baseboard heat  heating bills are 300 a month in small 4 room homes.
 I am attempting to have s-3's mining in one or two of these homes.  This could make nice money for me and the home owner's that I recruit.

While Antminers aren't known to catch fire, be careful with extending out your liability to other people's homes.  It's one thing to mine in your own house and keep an eye on your equipment.  It's another to have somebody else's home go up in flames due to a power supply failure - and that probably won't be covered by the homeowner policy.

This kind of thing should be covered by the policy of the homeowner who has the miner in their home.  As long as they don't intentionally set the miner on fire, and as long as it's not considered to be foolishly dangerous (e.g., you know there's a like a 90% chance it will burn your house down), it should be covered.
592  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] SpartanCoin - Cryptocoin for the competitive world. on: July 11, 2014, 08:21:41 AM
Something seems to be messed up with the chickenstrips pool.  cgminer says all my shares are rejected with this error: "Ntime out of range".  The pool stats page also says that the pool's hashrate is about 900 MH/s.  But spn.hashing.at and europex say the network rate is around 21 MH/s.  Could the owner please take a look?

Edit: It looks like things are ok again.
593  Other / Off-topic / Re: bitcoin can become worthless on: July 11, 2014, 08:09:05 AM
If electricity is shut down, all the civilization will collapse and no one will think about bitcoin.

But bitcoin collapse might happens in the next halving. Current btc price is the same as its costs to mine now, if we don't see it doubling before the halving, we may see btc facing serious problems
Or some miners will just have to shut down so the market balances.  We don't need exahashes for the bitcoin network; I don't think we need hundreds of petahashes like we have now either.  The network can't keep growing indefinitely.  And it seems pointless to waste so much energy on it.
594  Other / Off-topic / Re: bitcoin can become worthless on: July 11, 2014, 08:01:52 AM
Let's make bitcoin our new god Cheesy This way bitcoin will run everything and OP will stop worrying about electricity.
Problem solved.
A seem to remember a story about a golden calf... Wink
595  Other / Off-topic / Re: What do women want? on: July 11, 2014, 07:55:13 AM
For women it is a bit more complicated, but I think the biggest thing is to be wanted by men. Kind of like men boast about getting as many girls as possible, for women it would be an achievement to have as many guys going crazy over you.

I think it's deeper than this.  I think women want to know that they're beautiful (and I mean deep down, not superficially), and many turn to men for validation.  Sadly, this doesn't always end so well.
596  Other / Off-topic / Re: Best Sci-fi on: July 11, 2014, 07:38:58 AM
For a movie, I would go with Avatar (although the plot could have been less predictable) or maybe one of the Star Trek or Star Wars movies.  I loved Star Trek: Into Darkness.  The role reversal between Kirk and Spock compared with Star Trek: The Wrath of Kahn was fantastic!

If you're looking for a series, then I second Babylon 5.  It takes some time to get into, but it's the best written sci-fi series I've seen.  The storyline is absolutely amazing with lots of twists and turns that aren't easy to predict.
597  Other / Off-topic / Re: is greed good? on: July 11, 2014, 07:29:34 AM
https://www.youtube.com/watch?v=PF_iorX_MAw

Greed is good!

The real truth is greed hurts any market. Look at the banks... bitcoin can become that if greed isn't countered.
But how can we stop the human instinct of greed? Is greed the biggest long term threat for bitcoin?

Stop using money.  Share as a the family humanity is.  Work collectively towards accomplishing things as a species, not against each other.

Greed retards the progression of mankind.  Greed is the cause of depression, war and hunger.  It is the death of our species.

A society based off love would open infinite opportunities for our evolution.
I agree that some of this sounds great, assuming we're talking about a "let's sit down and fix some things so we can all live better lives" kind of loving society, not a "let's sing kumbaya and hug each other until our arms fall off" loving society.  But I think it's likely that money would still be necessary as it facilitates trade and compensation.  To eliminate money I think you'd probably have to eliminate the idea of personal property, which would not work well for a number of reasons.
598  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] SpartanCoin - Cryptocoin for the competitive world. on: July 11, 2014, 07:14:41 AM
Europex isn't exactly the best exchange, so saying the coin would sell for 2 or 3 litoshis would seem rather unlikely at an exchange with real volume. And if the coin gets on MP and only sells for 2-3 litoshis, I'd say the coin has some rather giant dev issues they need to deal with to add some value to the coin. Or in other words, you are doomed regardless.
Ok, I will agree with you here.  The fact that the spread between bids and asks of sizable volume on Europex remains fairly large indicates that SPN would likely trade for more than 2-3 litoshis.

SPN does seem to have a dedicated dev, even if things aren't progressing as fast as expected, which doesn't sit too well with many miners that want to mine the latest coin to dump immediately and move on.  I'm not criticizing that mode of operation as I do that, too.  It's hard not to when you have hardware to pay off.  But every now and then there's a coin like SPN that has the potential to be more than just a dump coin and is worth some investment.

A comparable coin may be something like Diem, which trades around 40-80 litoshis and is also available for 1 sat btc.  You can rightfully complain that the ltc market isn't worth much, nor would it be likely for the coin to zoom into the btc market (although not impossible), but right now spn is basically worthless, outside of that occasional 1 sat sale. Might as well take what you can on the ltc market and move from there, if that is the only option available.

If you think SPN is worthless and you have some left, feel free to dump away on Europex.  Some of the bids there are mine, so I'd be happy to take some coins off your hands at fire sale prices.  Wink
599  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] SpartanCoin - Cryptocoin for the competitive world. on: July 11, 2014, 06:28:00 AM
We keep pulling away from MEOW:

4: IXC 16058
5: SPN 14932
6: MEOW 14896
7: GRC 13842
8: ENRG 13000
9: ADN 12981

We're up 36 over MEOW, and we're 1126 from IXC, which may be hard to catch.  But let's see how we do over the next day or so.  If we keep our current place, SPN should be listed on August 11th.  SpartanCoin (or DarkTrix, if you've been in contact with him recently), do you think there will be other tools/features out for SPN by then?

All I can say about the voting today is wow!  This is now the current state of things with the number of votes cast in the last day in ()s:

4: IXC 16070 (+12)
5: SPN 15229 (+306)
6: MEOW 14910 (+14)
7: GRC 13874 (+32)
8: ADN 13526 (+545)
9: ENRG 13470 (+489)

So we really pulled away from MEOW and made huge progress on catching up to IXC, which, at this rate, we could overtake in about 3 days.

However, I'm very concerned about some of the lower ones, which is why I included them on the original list--so we know if anyone is sneaking up behind us quickly.  It would appear that ADN and ENRG are gaining ground fast.  They made a lot of progress today.  So keep voting and watch your back!
600  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] SpartanCoin - Cryptocoin for the competitive world. on: July 11, 2014, 06:16:08 AM
If it is not worth at least 1 sat, would be glad if added on LTC markets once SPN hits Mintpal as long as there are buy orders.

I think the biggest mistake people have made here is simply not accepting an LTC market. When you have 10s of billions of coins, the btc market isn't always in the cards.

It should have been on polo this entire time, in their ltc market ... no idea why the devs never tried to get it there. If it does well, it can always move up, but you have to start somewhere.
How would being paired with LTC help?  It just gives people an opportunity to dump more coins until it's worthless.  Then people lose hope and leave.  How many coins have you seen trade below 1 sat and then move back up?  I'm not saying that none have done so, but I don't know of any examples.  Besides, SPN has been paired with LTC on europex for the last 3 weeks.  How much good has that done?  The vast majority of the volume has been at 2 or 3 Litoshis.  At the current exchange rate of almost 80 Litoshis/Satoshi, and given the average current alt coin mining income rate of maybe 150,000 sat/Mhash/day (assuming you micromanage your mining), if the best you can sell your coins for guaranteed is 2 Litoshis (3 only has a depth of about 1000 SPN right now, so I'm ignoring that), then you need to be able to mine (80/2)*150000=6,000,000 SPN/Mhash/day to compete with other coins.  At least when there were only BTC markets, coins would occasionally sell for 1 sat each, so you at least had a chance at getting a really good return.

All that said, such events have kept the diff low most of the time, so I've been happy to accumulate a significant number of coins. Smiley  Having it paired with LTC still concerns me, though.
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