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5821  Bitcoin / Bitcoin Discussion / Re: Promotion: National Radio Show Interview about Bitcoin on: November 25, 2010, 08:24:29 PM
Oh I don't know, I feel kinda nervous for pushing bitcoin onto people.

I know what you mean, but there is a difference between explaining something new and "pushing it onto people".

I don't tell many people. I imagine all my acquaintances who I don't tell will be pretty pissed at me in 2013, lol.
5822  Bitcoin / Bitcoin Discussion / Re: Promotion: National Radio Show Interview about Bitcoin on: November 25, 2010, 08:22:01 PM
That's amazing, Bruce!

I imagine the show will be more about the economics than the technical details? Do you know if the host will be coming from a "we need gov inflation" angle or a "gold is the only money" angle or something else?
5823  Other / Off-topic / Re: Open Source Bank on: November 25, 2010, 05:39:22 PM
Even with bitcoin, banks will be a necessary evil in the longer run. Storing all of your money in your own PC or somewhere else in your house is not a good idea.

Then again, storing an encrypted wallet is much easier and cheaper than storing tons of gold and valuables, so the competition for banks would certainly change.



People will provide information about keeping your savings wallet encrypted and with you, and stored in a cloud. Banks are dying. Bankers will go down with buggy whip makers in the annals of history.
5824  Bitcoin / Bitcoin Discussion / Re: Speaking to a rep from CommonCraft.com on: November 25, 2010, 05:26:07 PM
I never sent the 100BTC pledge of the animated movie to escrow, so I can send for this project once everything is firm.
5825  Bitcoin / Development & Technical Discussion / Re: Bitcoins sub-nets on: November 25, 2010, 05:18:10 PM
If you hold balances centrally until amounts reach, say, 1BTC, attacks on you won't be particularly profitable.

There has been some discussion about the downsides of multiple chains. The main problem is that you can't convert 1 to 1 without people trusting that you'll do it for them, and if they do trust you they will generate on your chain until the difficulties are equal and you will bust long before that since you don't have millions of real coins I assume. If by some miracle this happens anyway, we are all worse off because the two networks can be attacked with only 50% of what would be needed to take them down if we worked together.

Eh, it occurs to me that you could tweak generation rates and total coins and such. But that is the same as backing at 10 to 1 or whatever anyway.

Also you will have the same problem, generators on your network still might charge or ignore your spam size transactions.
5826  Economy / Economics / Re: What's up ? Is something wrong going on with BTC market ? on: November 25, 2010, 05:05:10 PM
There is something weird going on in the BTC market:

 
The volume constantly decreases, while the price remains unchanged...
What does it mean ? Are we seeing market stagnation ? Or is the bitcoin overpriced perhaps ? Or maybe large speculators wants to fool us into thnking so ?

Can somebody with knowledge of currency markets put this in perspective ?

If anyone with coins thinks they are overvalued they can sell them right now, they are not, so that's not what's happening.

Fool us? Into thinking fewer trades are happening on mtgox? That's actually true, so we can't be fooled into thinking it.

People's relative desire for BTC compared to USD has not been changing much in the last few days, that's all.

Think about a very simple case. Person A has some red rocks and Person B has some blue rocks. A needs to have 2 blue rocks for some purpose, but generally prefers to have blue. Person B thinks they are roughly equal in value (since he just puts them in a bag hits people). So they trade 2 rocks on the first day. Now both have what they want. If nothing changes for them, they'll never trade again.

The more people involved the less likely it is for volume to drop to zero, but the idea is the same. Trades only happen when two people disagree about their marginal preference for the things involved. Once they happen the tension is relieved and another trade doesn't happen until there are pair of disagreers.
5827  Economy / Economics / Re: What's up ? Is something wrong going on with BTC market ? on: November 25, 2010, 04:50:24 PM
Mt Gox just implemented the Dark Pool?

Wont that hide the real market movements?

He said they would be reported after they happen. It seems large bids/asks have the ability to be hidden is all.
5828  Economy / Marketplace / Re: mtgox Dark Pool on: November 25, 2010, 04:43:55 PM
So if I am understanding this correctly this is the same as writing a trading bot that watches to see if there is a certain size bid at a certain price and only then issues the offer?
5829  Economy / Economics / Re: Sallie Mae and Government Fascism on: November 24, 2010, 11:32:44 PM
You might be able to declare bankruptcy, but you won't be able to rent or buy ever again, I don't think.

That's crazy talk. I don't have any credit problems, but my last 6 rentals have not done background or credit checks of any kind. I give them money, they give me keys. A few had contracts, a few didn't. I don't even have a job.

You will absolutely be able to find a place to rent, assuming you have money.
5830  Economy / Economics / Re: Sallie Mae and Government Fascism on: November 24, 2010, 09:52:54 PM
Loopholes to get out of owing $3400? or to get out of being homeless?

Don't rent from people who check that stuff. Lots of private people will let you live on their property in exchange for money.
5831  Economy / Trading Discussion / Re: How many bitcoins is "enough"? on: November 24, 2010, 06:11:35 PM
The goal of this project is to create a better vector for the transmission of value - better money.

We need this better money to conduct our commerce. To trade and create wealth.

Do not horde the bitcoins. Spend them. The have no inherent value, their value is in their utility. To not spend them removes that value.

If you want to horde money with no inherent value, there are lots of bullshit national currencies. If you want to save up and invest in your future, use gold.

Accept the bitcoins for business. Spend the bitcoins for business. We need an economy, not some pretend commodity trading game.

I disagree. Hoard them if you can stand it! As the value rises you will all be tempted out of your stashes.

I am accumulating because I know I will spend a lot on coffee in the short term, and I need to make sure I still have 10BTC left in 2030 to buy my spaceship.
5832  Bitcoin / Bitcoin Discussion / Re: A Much Needed Makeover: A New Look for MyBitcoin.com on: November 24, 2010, 05:52:21 AM
IMHO, most if not all bitcoin sites stink. 

bitcoin.org is the best.  Every other site needs work including mine.



I think bitcoinwatch and bitcoincharts are excellent at what they do. Mtgox is possibly the most beneficial site right now, but the execution isn't flawless by any means.
5833  Bitcoin / Project Development / Re: Bounty for Bitcoin Animated Movie [13622.05 BTC ($2520) and growing] on: November 24, 2010, 04:06:15 AM
Bytemaster is inactive again. He is last seen November 9.

Provided the risk of death/amnesia/imprisonment is greater than theft by trusted members it makes sense to have two different longtime members with access, either by copying the wallet file or using a mybitcoin or mtgox. I am not volunteering.

5834  Bitcoin / Project Development / Re: The World's First International Bitcoin Users Meet-up on: November 23, 2010, 05:00:43 PM
we have ~1200 board users all over the world.
we have ~60 very active (~100+ posts) users all over the world.
how many do think will show up ?
3 ? 4 ? 5 ?

good intention but this will just end as a fail.

3, 4, or 5 would be success. If I was closer I'd try, but it's just not possible (this time anyway).
5835  Bitcoin / Bitcoin Discussion / Re: Isn't increasing difficulty a good sign ? on: November 23, 2010, 12:40:32 AM
the point isn't about fairness but about stability of the network.  if 20 people are responsible for 95% of the network, then they own the network, and that's not stable. 

Maybe, but those 20 people might find it difficult to collude even if they knew who each other were.  These 20 people are in competition to catch those coins, after all.  If 20 people dominate 95% of generation (a strawman argument in the making, if I have ever seen one) then the mean generation for each is less than 5% of total generation.  Not exactly a threat to the system.

It doesn't matter if the 20 are brothers, as soon as they collude prices will invite new players. And you don't need their permission, gov permits, licences, etc. You just do it.
5836  Economy / Marketplace / Re: BitcoinGateway.com (now accepting Visa/Mastercard) on: November 22, 2010, 10:47:52 PM
What is the minimum amount you will sell? Is there a fixed fee, %fee, or are you just going to run a spread?
The default transaction amount when you click "buy" is 50 BTC, the minimum is less (closer to 10 currently).  Any fees are included in the quoted price (eg my prices are slightly higher than the spot rate on the markets).

Quote
If a person gets verified on the first purchase, is it much simpler for future purchases with the same card?
Yes, that's precisely what BitcoinGateway is designed for, repeat customers.  Once a card is registered and verified it's as easy as clicking "buy", putting in the number of BTC.

Quote
Not asking for myself, might refer some noobs. I've been reluctant to spread the word to friends when the best way to get coins would be for people to buy from me.
Thanks for the referral!  Incidentally, I'm working on a referral system where you could get a BTC referal fee as a % of the BTC that they purchase.

That all sounds great.
5837  Bitcoin / Bitcoin Discussion / Re: What will keep transaction fees up? on: November 22, 2010, 09:04:23 PM
I was under a misunderstanding on how bitcoin worked Angry, It still doesn't stop the network for ignoring blocks that include to-many new low fee transaction as a whole, just makes the process a little less elegant.

I think your idea of wait will surely happen, but it won't be waiting to release, it will just be waiting to start working. It is actually more elegant the way it is as we get the most difficulty for a given amount of power that way.
5838  Bitcoin / Project Development / Re: New Project Idea. Yours to implement and win. on: November 22, 2010, 09:01:57 PM
No BTC offers = no incentives.

That's wrong. There are lots of types of incentives that are not bitcoins up front.
5839  Economy / Marketplace / Re: Auction for a 1g gold mini bar until block number 95,000 on: November 22, 2010, 08:52:08 PM
50

brocktice leads at BTC50


Anyone at 60 ?


Edit.  Please notice I won't always be able to aknowledge bids as quickly as I've been doing it so far.  I'm a human being and sometimes I have to sleep, work, eat, and so on...  Wink


60BTC would be a steal, I'll bid it.
5840  Economy / Digital goods / Re: Poker Stars USD for Bitcoin ($.25/BTC) on: November 22, 2010, 08:51:24 PM
No change, just a bump.
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