I'm not jealous. I just know that when the world looks at Satoshi and a few others as owning a large percentage of the currency (and thus having a large amount of power with regards to money supply, inflation/deflation, pricing, political movements, etc), the world is going to have a problem with it. It's one big roadblock to Bitcoins replacing any fiat currency.
The fed, which is a single institution, can print as much USD as they want. So they print them self a much larger percentage than Satoshi will ever have. Is it a roadblock to use USD? Apparently no. So Satoshi could end up as a tiny little mini-fed, sort of a small regulative to the bitcoin world, if he even cares But the government is GIVEN the power by the people, and the people, for the most part, trust the government. They trust that even though the government is printing money, they aren't going to be stupid about how they manipulate the market with it. They trust that even though the government may not always make the best decisions, it is at least TRYING to make the best decisions for the people. Having a random individual (or set of a few individuals) have the same power as the government with regards to money supply IS a problem. You can't trust that Satoshi, or any of the others, have the best interests of the people at heart. There's no checks and balances to any activities they can do. The number of people they could pay off to do things in their interests if bitcoin ever did come to be widely used is incalculable. I don't have a problem with early adopters being rewarded. I DO have a problem with any single person holding more than 0.5% of the currency available.
This. And comparing buying BTC at $0.001 each (or mining them with hundreds per week) or at $6 each is kinda idiotic. When it was at 0.001$ bitcoin was an almost unknown thing. Spend thousands of $ on something unkonwn? Risky... When it was at 6$ some days ago it was clearly an undervalued price. Who bought them ended with a 100% profit in few days, and that's a LOT So, did you RISK?  Also i have heard ixcoin or namecoin are cheap, did you buy them? Satoshi and the other early miners didn't risk much. Running a single CPU (or a few) 24/7 would amount to a handful of dollars more on the electric bill. Some of the later early adopters did take large risks by dumping thousands of dollars into buying coins too, I'll agree with you there. Regardless, I don't mind them making a profit because they took a risk. I don't even mind them making an insane profit because they took a risk. That's not what this is about. It is the fact that they currently hold so much power over the future of the currency that I have a problem with, and that many other people will have a problem with when they hear about bitcoin and think about what it would mean to have it replace a national currency. That's why bitcoin replacing a national currency will never happen. And if you don't have a problem with that, then I guess you never had much hope for bitcoin in the first place. |
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I live in an ancient apartment building with inclusive power and over 20 units all on one meter... Nice way to slash the price of rent so far. wat. I wouldn't add any more rigs if I were you - even if it's a 200amp service, that's an average of 10 amps per apartment - ie, good for one small sized breaker. If something in that place catches fire and they gotta spring to have it rewired, there goes your free ride. So take it easy on that shit. I have 200 amps to my house. I can't imagine they'd put 20 units on just 200 amps. |
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try WWW.mtgox.com ....
It's up again, so it doesn't matter. But I tried http://www, I tried https://www, I tried http://, and https://, none of them worked. |
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Maged - I don't know what the exact number is, but since you said it isn't true, you must know?
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I don't have a problem with early adopters being rewarded. I DO have a problem with any single person holding more than 0.5% of the currency available.
Hmmm maybe I'm just weird, but this seems like the biggest non-issue of all the non-issues. Those who "adopted" earliest represented the greatest initial thrust behind the project. Bitcoin was a "silly nothing" when the early adopters got involved... and without them it would've forever remained as such. I sincerely hope those early adopters make a fortune, and I care not at all what "proportion" of Bitcoins any single person owns. Those who hold the most coins have the greatest incentive to see them succeed, and if they decide to "dump" them, then all the complainers will get a great opportunity to buy for cheap! I really don't see the concern here... but it seems just like jealousy and a misunderstanding of how prices and markets work. I'm not jealous. I just know that when the world looks at Satoshi and a few others as owning a large percentage of the currency (and thus having a large amount of power with regards to money supply, inflation/deflation, pricing, political movements, etc), the world is going to have a problem with it. It's one big roadblock to Bitcoins replacing any fiat currency. You yourself may not have a problem with it, but it should at least concern you, from the perspective of having more people adopt and use bitcoin. |
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I don't have a problem with early adopters being rewarded. I DO have a problem with any single person holding more than 0.5% of the currency available.
In hindsight maybe a slower curve or earlier hype would have been better for economic stability, but at this point I feel like changing the rules would do more harm than good. A new fork wouldn't gain acceptance before the Bitcoin early adopters all sell out and the problem solves itself. It's not like they don't "deserve" it, so what's the big deal? What's the big deal? The big deal is, no one will accept Bitcoins to replace any major currency once they realize how much the early adopters hold. Right now, the world's richest man holds what, 60 or 70 billion USD? The 1.5 million BTC that Satoshi holds now would effectively become at least one TRILLION dollars if BTC replaced the USD. That's just too much to be acceptable by any reasonable person. WAY too much. |
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Me too, thanks for the heads up!
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Down for everyone in the US, up for everyone worldwide... Hmmm... Time for the government conspiracies??  |
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We're working on exactly this, and it should be available sometime next week on the Bitbills website.
I was going to ask if it would only work for bitbills private keys, then realized that was a dumb question.  |
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A live video feed would be amazing! Intervex, that app sounds great. I look forward to hearing when it is available.  |
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Nope, I don't do such things. And I haven't even accessed it for days... Usually, I'll just open it up to see what trades are doing, refresh it maybe once or twice a day, and that's it.
West Coast US here too. I wonder if some link between here and Japan is down, and they haven't routed around it yet.
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I've tried accessing mtgox.com from the computer I am currently using, from my home computer (by remoting in) and from downforeveryoneorjustme.com, and everything indicates that mtgox is down. Is no one else having problems? My chrome ticker is still showing trades going through... very odd.
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I don't have a problem with early adopters being rewarded. I DO have a problem with any single person holding more than 0.5% of the currency available.
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I bought at 6.9 and sold at 8.1, but hey, I still made some money! |
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Links? I'm curious now $100 isn't a bad price but these cases took me many many many hours to make. Still isn't worth $700 premium on the price. Well, actually more like $1000 premium, since, as other people pointed out, the hardware is used. |
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at first he said he got hacked, but turns out a friend played a prank on him, and took out the bitcoins in his wallet/pc and tried to send it to his own address but he sent it to a different address so the btc is lost.
I will get my money back in 3 hours
Were they sent to someone else's address, or an address that doesn't belong to anyone? If the address doesn't belong to anyone, we should add them to the "known lost bitcoins" count. |
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-wallet=foo.dat command-line param would be easy (unless you allow an absolute path, in which case the code that detects whether two instances of bitcoind are trying to write to the same wallet would have to be changed). But if you pass it on the command-line, then wallet-stealers can just adapt and look in the process list to figure out where the wallet is. If you put it in the bitcoin.conf then the wallet-stealers can also look in the bitcoin.conf to figure out where it is. I like the 'deterministic wallet' idea that's been floating around (enter a password passphrase at startup, and keys are magically derived from that password passphrase and never touch the disk at all). Seems like there would be a clever way of combining that with white-box cryptography to make the private keys extremely trojan-resistant. In which case the wallet-stealers will just rewrite the bitcoin address/amount after you press the "send coins" button...
Edited to replace 'password' with 'passphrase' I completely agree, BUT it would eliminate the trojans that simply look for a file named wallet.dat. One extra step is one extra step. Maybe that means one less trojan would be written, because the trojan writer is noob enough to not know how to look at params in the process list. Interesting thoughts regarding the deterministic wallet idea. I don't quite understand how that would work, but it does sound like it would be loads more secure than the current solutions. Well, as long as people used extremely secure passphrases, or people could brute-force their way into finding bitcoin wallets, as aq pointed out. |
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Electronics. I look out for good deals on Craigslist, mostly computers, but some miscellaneous other items too (like a Magnavox Odyssey).
Also, I did buy a car for $4500, fixed it up with $1000, and resold it later for $4500 more than I paid for it.
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Lol, I'm probably not cut out for this sort of game if I can't get past the 1st level, eh? I've tried everything I can think of that N/A stands for, nothing works. Hmmm... |
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Lol @ electric penalty to pay poor people's bills. California is so messed up. It's no wonder the state is going bankrupt.
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