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5941  Economy / Economics / Re: How to fix bitcoin on: April 08, 2011, 05:49:58 PM
if Armageddon does hit, how are Bitcoins going to address this very practical matter?
If we don't have a world-wide mesh network and bucket sized fusion reactors, I don't think it can be helped. Better to keep some silver beside your paper money and/or bitcoins. You could invest in guns and bullets, though. Or food and water. All of these are investments you make based on your predictions about the future. Investing in Bitcoin is not a good idea if you are preparing for Armageddon.


Investing in any currency is a bad idea if you think Armageddon is near.  Even gold has near zero utility under such chaos, but at least silver still has antibacterial properties that makes it worthwhile to keep some of it around.  Before the modern era of safe city supplied water, most people had cisterns.  Americans would take a 50 cent silver piece and drop it into the cistern.  Powdered silver was used on wounds during the Civil War, and up until WWII, field surgical devices were often plated in silver to reduce the need of disinfecting of the devices between surgeries in a combat situation.

No currency is useful without a functioning market, and that requires a civilization.  Bulletts are a good idea, though, even if you don't own a gun.  22lr, 38special and 9mm are the best choices.
5942  Economy / Economics / Re: Devilish plan :) on: April 08, 2011, 01:14:23 PM
I went to the website and couldn't make heads or tails of it, but as I was there exploring I was struck by what I was just doing.

As little as two decades ago, even if the Internet were available then, having this conversation about trade with players within Russian territory would have earned me a visit from the US Secret Service.  You kids probably have a hard time understanding a world wherein geo-political interests trumped free trade and business interests, but for the majority of my lifetime that was simply the way it was.  And we couldn't have imagined the world since the breakup of the Soviet Union and the rise of the global Internet.

As a child, we would have to regularly participate in 'drills' at school.  Wherein the children would either flee the classroom and huddle in the halls crouched into a ball, or under our desks.  As an adult, I rationally realized the shear futility of doing such a thing if the US had ever gone to war with the USSR; but as a child it was truly frightening.  I can understand how such propaganda could condition a majority of those children to ever distrust foreigners.  Fear is a huge motivator, particularly in children.  I have no doubt that the USSR used similar tactics with it's population.

Thank God for the Internet.
5943  Bitcoin / Bitcoin Discussion / Re: Can/Will Transactions Ever Be Processed Faster Than Every 10 Minutes? on: April 08, 2011, 12:46:21 PM
Gluskab - You're probably referring to eWallets like MyBitcoin.com - you're correct that mybitcoin users can instantaneously send money to other mybitcoin users, and in the future it's likely that similar, interoperable services will arise.
I guess he spokes of private key transfer from one wallet to another => instant tranfer.

keypair transfers will probably be possible in the future, but they are not a secure way to move bitcoin.
5944  Economy / Economics / Re: Devilish plan :) on: April 08, 2011, 12:44:48 PM
So you would be selling ag futures contracts in Bitcoin?
5945  Bitcoin / Bitcoin Discussion / Re: New to bitcoin on: April 08, 2011, 12:31:51 PM
Try turning the Generate option on for a minute to get a "khash/s" value (then turn it off) and plug that into the calculator to see just how futile it is to try to mine with the standard client at this point.

It is futile in the same way that buying lottery tickets is a futile way to earn a steady income.

But I'm guessing even a dead slow computer doing 2khash/s could theoretically 'win the lotto' and earn 50 btc within 10 seconds of installing the client*

*someone more experienced tell me if I'm wrong about this.



Excluding the delay that bootstrapping the blockchain imposes at startup, then yes, it is possible for any computer to pull a hail mary at any time after it starts generating.
5946  Bitcoin / Bitcoin Technical Support / Re: do new installs automatically generate 100 addresses? on: April 08, 2011, 05:13:07 AM
sorry to de-rail post.. but..

is there a limit or reason to not do something like

-keypool=20000

?

so i could have alot just sitting there

Disk space, but if you are an online merchant, a keypool of 20K might be a reasonable number.  It would take the client quite some time to crap out so many on an average desktop, but this would only be an issue upon first startup.
5947  Other / Off-topic / Re: My doubts about anarchy on: April 08, 2011, 03:05:32 AM
FatherMcGruder,

I came across this post, I'm still reading it, but I'm curious about your thoughts: http://socialmemorycomplex.net/features/let-the-free-market-eat-the-rich.html

Enjoyed that post!  Indeed, most current aggregations of wealth would not be able to sustain themselves in a free market.

Amen. 
5948  Economy / Economics / Re: How to fix bitcoin on: April 08, 2011, 03:03:36 AM
Funny!  Imagine how old this kind of stuff gets to those of us who have been here a long time.

Being here a long time and seeing the same questions over is not an answer.  Mob rule is not reality they still burned witches in Salem.  I realize it all depends on merchants, if merchants leave bitcoin is done and there is no intrinsic value thus you have nothing.  So technically if the number of total merchants is rising so can bitcoin.

The answers that you seek are written in the forum's archives, as well as several different wiki's, at least one FAQ, and the technical white paper.  I'm more than happy to point you in the right direction if you are confused, and answer questions that arise from reading those documents.  However, neither myself nor anyone else who can answer those questions have the time to repeat ourselves for each newbie who misunderstands how the system works.  If you really wish to know and/or have this debate, then at least attempt to educate yourself on the details before you come to the table.
5949  Economy / Economics / Re: How to fix bitcoin on: April 07, 2011, 10:57:42 PM
OMG, this has already been hashed out bazillion times...

Funny!

Imagine how old this kind of stuff gets to those of us who have been here a long time.
5950  Bitcoin / Bitcoin Technical Support / Re: Bitcoin not connected Linux on: April 07, 2011, 10:44:33 PM
Hi
I downloaded Bitcoin for Linux, opened the file and the gui opened. But there is alway not connected when I chose Generate Coins.

What does it do when you are not trying to generate coins?  Do you show any connections?
5951  Bitcoin / Mining / Re: I just mined 3 blocks on: April 07, 2011, 10:40:24 PM
Bobr,

I've just been reading through your post history, and I can count the number of posts that were directly relevant to the topic in question as being about 20 total.  The rest are you either engaging a flame war, continuing one, or simply being rude.  Why are you here?  Do you enjoy hijacking threads?  Is this what makes you happy?  I, for one, do not enjoy spending my online freetime deleting flamebait. 

BTW, I've had to spend time reading the histories of others in this thread as well, and you seem to be a common denominator.  If I wrong about this, show me; but until counter evidence is presented I will assume that if it walk like a duck and quacks, that it is a duck.
5952  Economy / Economics / Re: Monetary Sovereignty on: April 07, 2011, 10:27:51 PM
My understanding of the way the US "prints" money is that it actually sells US Treasury bonds to the Federal Reserve, and therefore at some point has to pay back those bonds with interest.  If this is true, this guy is completely nuts or just doesn't understand basic economics.  Thoughts?

You are correct as to how money is normally printed. And yes, the US government pays interest on this to the Federal Reserve. However, the Federal Reserve returns all profits it makes beyond operating costs back to the Treasury each year. So the US government is not exactly worried about interest it pays to the Fed because it's mostly coming back to the Treasury in the end.

It's like moving cash from your left pocket to put it into your right pocket, except IRL your left pocket can't make more at will.
5953  Bitcoin / Bitcoin Discussion / Re: Leasing mining rig time? and possibly solution to chargebacks on: April 07, 2011, 04:58:36 AM
but i intend to have tracking on the package being sent to prove that it arrived at the address as well. this would be no different the buying a prepaid xbox live card from amazon but its a card with bitcoins on it instead.

No, it's still different.  As the sender, you have the data, and therefore the ability, to claim the coins yourself; regardless of who might receive the card.  Even if you are honest, that doesn't mean that a dishonest customer can't claim that you aren't.  If the story is plausible, and it is, then PayPal isn't going to cover you for this more than once.
5954  Bitcoin / Bitcoin Discussion / Re: Where do you see the BTC-USD exchange rate in month? on: April 07, 2011, 12:21:30 AM
EDIT:  Also, I think you might be right about the future price of Bitcoins, and as a show of friendship, I'll pay you triple ($.03) your quote for any of those worthless bitcoins you might have.  This is a limited time offer, however, so hit me before I come to my senses!

Will you still provide this offer 10 years from now?  The intrinsic value of a bitcoin is zero, that is where it will go with no iron hand.

It's a limited term offer.  Jump on it before I take my meds!

BTW  The intrinsic value of every fiat currency on Earth is very near zero, and ever approaching that value in the market itself.  So I would extend my offer to $ and Euros as well.  I'll gladly pay $.05 for every Euro that you possess or .05 Euros for every one of those US Federal Reserve Notes.
5955  Bitcoin / Mining / Re: If I am mining with 2 GPUs at the same time, are they competing? Other 2gpu prob on: April 07, 2011, 12:18:32 AM
That's correct, GetWork implies that you are using a pool miner, not an independent client.

What? GetWork() is a JSON-RPC call: https://en.bitcoin.it/wiki/Original_Bitcoin_client/API_Calls_list

If one GPU can call a local bitcoind for GetWork(), why not more than one? Are two cores at 25 mhash/s each not the same as one core at 50 mhash/s? GetWork already has to return unique work no matter how little time in between calls, no?

I'm sorry, but are you agreeing with me in opposition?

If I'm wrong, correct me.  But make sure that you know what I'm talking about first, 'kay?
5956  Bitcoin / Bitcoin Discussion / Re: Leasing mining rig time? and possibly solution to chargebacks on: April 07, 2011, 12:16:31 AM
I think i thought of a way to prevent chargebacks as well. Paypal has seller protection on physical items shipped to a verified address. So I would deposit the bitcoins in a mybitcoin.com and at the end of the week mail the buyer a card with the username and password of the account to collect the bitcoins. If the coins are collected thats proof that the item was received by the person at the address tied to the paypal account and would be covered by paypal seller protection.

Would anyone be interested in something like that?

I doubt that you could get seller protection this way, but if you can, go for it.

why would you doubt it? the bitcoins being removed would be proof that the card arrived at the address verified by paypal and would satisfy all the requirements described here:
https://cms.paypal.com/us/cgi-bin/?cmd=_render-content&content_ID=security/seller_protection_learn_more

The transfer of the bitcoins wouldn't even be proof that someone received the card.  You could redeem the coins yourself without anyone else being able to tell.
5957  Bitcoin / Bitcoin Discussion / Re: Leasing mining rig time? and possibly solution to chargebacks on: April 06, 2011, 11:27:36 PM
I think i thought of a way to prevent chargebacks as well. Paypal has seller protection on physical items shipped to a verified address. So I would deposit the bitcoins in a mybitcoin.com and at the end of the week mail the buyer a card with the username and password of the account to collect the bitcoins. If the coins are collected thats proof that the item was received by the person at the address tied to the paypal account and would be covered by paypal seller protection.

Would anyone be interested in something like that?

I doubt that you could get seller protection this way, but if you can, go for it.
5958  Economy / Economics / Re: Bitcoin Millionaires on: April 06, 2011, 11:24:49 PM

are there any?

Doubtful.  I'd wager that even Satoshi doesn't still own that many.  No way to know, however, which is part of the point.
5959  Bitcoin / Bitcoin Discussion / Re: Where do you see the BTC-USD exchange rate in month? on: April 06, 2011, 11:16:15 PM
I still don't believe you can open a store in the United States and accept euros, gold, Canadian dollars, bitcoin, as payment or competing currency.

Well, they you would be wrong.  Not only is it possible, it's actually done.  It's not common, but a European can offer Euros to a vendor, and the vendor has the right to accept foreign currency, but not the requirement, as settlement of debts.  What is questionable, is whether or not a business with public access can quote prices in foreign currencies; but I'd bet that McDonald's isn't interested in a menu board that displays prices in Euros anyway.

BTW, the founder of the Liberty Dollar was recently convicted of some kind of fraud; but none of the associated businesses that accepted the Liberty Dollar could be charged with anything, nor none that sold same without advertising that fact.  Because a private business could accept payment in live chickens, if they desired.  Private local currencies such as the Ithica Hour depend upon this for their ongoing existance.

EDIT:  Also, I think you might be right about the future price of Bitcoins, and as a show of friendship, I'll pay you triple ($.03) your quote for any of those worthless bitcoins you might have.  This is a limited time offer, however, so hit me before I come to my senses!
5960  Bitcoin / Mining / Re: If I am mining with 2 GPUs at the same time, are they competing? Other 2gpu prob on: April 06, 2011, 11:04:25 PM
If you are mining locally, are you using two independent instances of the mining client?  If yes, then it's very unlikely that they are duplicating work.

Would that be necessary? I was under the impression that GetWork() returns unique work.

That's correct, GetWork implies that you are using a pool miner, not an independent client.  So if you are successfully mining with a pool, you are not in control of the nonce anyway.

EDIT:  And yes, you can use a pair of pool miners to mine independently on your own machine, if you also have a client that is running that is modified to manage pool miners.  Either way, pool miners are probably the best route with a machine with multiple GPU's
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