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5901  Economy / Economics / Re: Defending Capitalism on: April 10, 2011, 05:00:04 AM
Wow.  This is the largest example of mental masterbation that I have seen in a long time, and I read a lot on the Internet.

This is an unresolvable disagreement, simply because both sides talk past each other because neither can really agree on the definition of critical words.

I have a question...

Whatever it may be called, and based on the given that, whatever it is called, basicly every "Western" society largely shares the majority of characteristics of the same whatever.  Do you believe that your lifestyle today is better, worse or about the same as your grandfather's?
5902  Economy / Marketplace / Re: [OPPORTUNITY] Invest in a working mining operation on: April 10, 2011, 04:44:30 AM

What you are proposing is essentially a one year business bond.  The problem is that it's unsecured and includes currency risks.  3% isn't enough interest. 

<snip>

he said 3% per month, not per year. that comes out to about 42.5% per year

My mistake.  Thanks for pointing this out.
5903  Bitcoin / Bitcoin Discussion / Re: Remove "generate bitcoins" from standard client? on: April 10, 2011, 04:41:36 AM

 but you must have the entire block chain to accept Bitcoins, otherwise you can't protect yourself against a double-spend.

That's not entirely true, as there are other steps that can be taken to mitigate such risks without access to a local blockchain.  Yet, the client does not attempt these other methods at of yet, so your statement is practically true at present.
5904  Other / Off-topic / Re: My doubts about anarchy on: April 10, 2011, 04:38:31 AM

You are delusional. You and BCEmporium are lost causes so I won't be engaging in conversation with either of you again. Sorry but I have better things to do, like bashing my head against a wall.

You have a higher tolerance than I.
5905  Economy / Economics / Re: How to fix bitcoin on: April 10, 2011, 04:37:25 AM
This discussion is now about how to "fix" Bitcoin.


Consider, if a man could generate $0.25-0.50/day STEADY...
And in Eurasia a big loaf of bread costs about $0.10...
And if 10,000,000 people had $10 in BitCoins...
All of the sudden you are looking at $100,000,000...
And then it only starts to grow.


That is the general idea.

The viral, exponential growth is Bottom Up... not Top Down...
Like YouTube, not Hollywood...
What happens with BitCoin in Russia >>> more important than USA...
Another tool for tipping fat bloggers is not revolutionary.

You guys know this...
But electricity is cheapest by far in the Americas...
I'm still trying to discover/understand features tailored for Third World.

Bitcoin is not tailored for anyone, but nor does it discriminate for anyone either.  That alone means that Bitcoin is a more favorable monetary system for third world nations than anything that the UN or the US has presented them with thus far.  Your claim about electricity is false, as there are forum members who have reported very low power costs in Russia, Iceland and elsewhere.
5906  Economy / Marketplace / Re: [OPPORTUNITY] Invest in a working mining operation on: April 10, 2011, 01:19:17 AM

To make things simpler, I'm thinking on offering a mixed repayment type : capital will be repaid in USD and interest in BTC.
e.g. : for every USD 1000.- you invest, you will be paid 12 x USD 83.33.- and 12 x 40 BTC.

What do you think ?


I think that is a workable solution.  Such an agreement pretty much removes investor currency trade risks.  Would the USD be in MtGox $, PayPal $, or some other method?

USD payments can be with any method, at investor choice, no problem with that.
 

If you have 200 different investors, you are going to want to standardize the payment methods.  Otherwise you are going to be spending too much actual labor time sending the payments each month.
5907  Bitcoin / Bitcoin Discussion / Re: New to bitcoin on: April 10, 2011, 01:17:36 AM
BitCoin would essentially allow you to do the same thing without having to carry any actual currency on you because you would only have to get to an internet access location within each country and then would have access to unlimited BitCoin transactions.  This makes it a lot safer and could avoid strict currency import regulations that certain countries impose. 

That's an interesting selling point that I hadn't thought of before.

oh my, Cryptoman...

you've never tried to enter or return to the U.S. with $5,000.00 in cash?   Shocked  heavens lad - you just haven't lived...

I highly recommed the body cavity search if you are into that kind of thing, but the cost of loosing all of your cash certainly makes a visit to an S&M brothel the greater value.
5908  Bitcoin / Bitcoin Discussion / Re: Remove "generate bitcoins" from standard client? on: April 10, 2011, 01:15:20 AM
As far as I know it would take forever to mine anything with just CPU even if you have a good processor so please explain why it's useful if you not have access to some kind of supercomputer?

I mean, doesn't this feature give new users false hopes and will make them waste their CPU on nothing?



I've already explained it.  Please read the thread.  If you are just thinking about what you personally gain from mining, then it is pointless to you.  If you consider the altruisic value of mining, particularly in a crisis event such as an ongoing attack upon the blockchain, then it's not unwise to have every possible cpu still have the ability to mine.  Even if there is no possibility of profit.
5909  Bitcoin / Bitcoin Discussion / Re: How many connections are you seeing on your Bitcoin client? on: April 10, 2011, 12:01:40 AM
I also have endless 8's- even DMZ'd my router for the computer and still 8's.

Unless you are mining, eight is more than enough.  It probably is even if you are mining.  Unless you are determined to get more, it's likely not worth the effort of tracing down the blockage.
5910  Economy / Marketplace / Re: [OPPORTUNITY] Invest in a working mining operation on: April 09, 2011, 11:53:17 PM

To make things simpler, I'm thinking on offering a mixed repayment type : capital will be repaid in USD and interest in BTC.
e.g. : for every USD 1000.- you invest, you will be paid 12 x USD 83.33.- and 12 x 40 BTC.

What do you think ?


I think that is a workable solution.  Such an agreement pretty much removes investor currency trade risks.  Would the USD be in MtGox $, PayPal $, or some other method?
5911  Economy / Economics / Re: How to fix bitcoin on: April 09, 2011, 11:48:59 PM
This discussion is now about how to "fix" Bitcoin.


Consider, if a man could generate $0.25-0.50/day STEADY...
And in Eurasia a big loaf of bread costs about $0.10...
And if 10,000,000 people had $10 in BitCoins...
All of the sudden you are looking at $100,000,000...
And then it only starts to grow.


That is the general idea.
5912  Bitcoin / Bitcoin Discussion / Re: Remove "generate bitcoins" from standard client? on: April 09, 2011, 11:35:05 PM
What is the point of having it in the standard  client if it's pretty much useless?



It's not useless.
5913  Bitcoin / Bitcoin Technical Support / Re: Nvidia NForce 2 on: April 09, 2011, 10:00:53 PM
Looking again, I see that the startup messages refer to a GeForce 4, which is probably too old to make the cut.

Thanks anyway guys, I just thought that it would be worth checking.
5914  Bitcoin / Bitcoin Discussion / Re: Remove "generate bitcoins" from standard client? on: April 09, 2011, 09:58:45 PM
But, this argument will disappear if light clients (without the whole blockchain) are more used than the current one, because light clients can't generate blocks if i remember correctly what gavin write in another thread.

Although there will be 'lightweight' clients in the future, most likely those will be on consumer devices without the capacity to support a full client.  Future users of Bitcoin are as likely to have a client running on portable devices and home computers.  There is no reason to expect that future users are going to prefer lightweight clients on personal computers.
5915  Bitcoin / Bitcoin Discussion / Re: Remove "generate bitcoins" from standard client? on: April 09, 2011, 09:55:32 PM
It's also important to keep the ability to mine via cpu's in the vanilla client, should there ever come a day when the system is attacked, and the userbase is called upon to mine at a loss in order to defend against an ongoing blockchain attack.

But if they don't (or  1 or 2 lucky ones do) solve any blocks will that even help?

Yes.  Like raindrops form a river.
5916  Bitcoin / Bitcoin Technical Support / Nvidia NForce 2 on: April 09, 2011, 05:17:47 AM
Can I mine using this GPU?
5917  Economy / Marketplace / Re: [OPPORTUNITY] Invest in a working mining operation on: April 09, 2011, 05:07:26 AM
I like the idea, but not the terms.  Even at a 3% ROI, Bitcoin is still inflating at about 40% APR.  There is still room for great losses.

I'm not sure if I understand your concerns.  Wink
I will expand mining with loan. I will repay with BTC.

So, you will benefit if BTC revalue.
Would you prefer a fixed USD repayment, a mix ?

What you are proposing is essentially a one year business bond.  The problem is that it's unsecured and includes currency risks.  3% isn't enough interest.  However, I also understand the concern for yourself, because if the difficulty shoots to the moon, you might not be able to pay back the installments.  But I think that I have a solution.

Start by bumping up the APR to something more in line with a high risk bond, say 12%; but include an escape clause.  For example, an agreement to the monthly payment, but if the difficulty is set to a number higher than a certain limit, all future payments are waived.  This protects you from a spike in the difficulty, while also permitting the investor (myself) assurances of a reasonable profit margin.  It works because there is a strong corollary between the difficulty and the market price trendline.  So if the limit is breached in six months, I only receive half of the bitcoins but it is a fair assumption that the trade value of that half of bitcoins had significantly increased during those six months.  At this time, I'd be willing to set the high difficulty limit to 250K, roughly triple the difficulty at this point.  Run your math, if you are interested, to judge your risks.  On risk to me is that it's possible for the bitcoin price to decouple from the difficulty, but I would say that the odds of that occurring within any one year period are remote. 
5918  Economy / Marketplace / Re: [OPPORTUNITY] Invest in a working mining operation on: April 09, 2011, 12:47:44 AM
I like the idea, but not the terms.  Even at a 3% ROI, Bitcoin is still inflating at about 40% APR.  There is still room for great losses.
5919  Economy / Marketplace / Re: Looking for a 30 BTC loan - Repay 35 in 2 weeks on: April 08, 2011, 10:46:04 PM
That was quick.

Pity, I would have loaned that much, to a forum member with your history, for 32 bitcoins in two weeks.

5 bitcoins interest is about 16% in two weeks, or an APR over 400%, roughly ten times the inflation rate.

Even 2 bitcoin would have been a harsh rate of about 6% in two weeks, or over 150% APR.

We need a bitcoin version of Prosper.com for a short term bitcoin credit market, as it seems we really are approaching the point that is viable.
5920  Bitcoin / Bitcoin Discussion / Re: The Daily Bitcoin 4/8/11 on: April 08, 2011, 10:40:14 PM
Most likely cause of the price of bitcoins falling is that the growth rate of the userbase/marketplace has stalled while the rate of new bitcoin creation continues at a rate roughly 40% APR.  This is a high inflation rate, that won't settle down until 2013 or later.  Until that time, the value of a bitcoin is subject to wild swings.  This is not yet mature technology.
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