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681  Alternate cryptocurrencies / Altcoin Discussion / Re: Cryptsy Fee Shares on: October 25, 2013, 09:43:20 PM
Next few dividend payments also likely to be bumped up:

Quote
BigVern: Fees paid out this period was for the entire allocated to 100k, but shared only amoung the 5k sold. I will likely do this for the next couple payouts. I have had some outside interest in this program this well, so if those deals occur I would reduce the available shares for sale accordingly
682  Alternate cryptocurrencies / Altcoin Discussion / Re: Cryptsy Fee Shares on: October 25, 2013, 05:13:39 PM
    The claim is 10 to 20 times increase in fee generation once fiat is accepted.  Given that there will be fees from fiat to coin and back, it is reasonable to bet that fee income would increase several-fold immediately. Let's say I believe that fee income will average 1500 BTC per month over the year following fiat currency on Cryptsy (Based on 15x current income of "over 100 BTC per month" from provided description:

           1500 BTC x .0002% (that's .000002) = 0.003 BTC  revenue per share, per month.  

           Assuming a valuation of $180 USD per BTC, that is  54 cents per month, per share.

           At a cost of 0.05  BTC per share:   (0.003 BTC revenue x 12 months) =  0.036 BTC annually, which is around $6.50 USD.

     So, my investment of .05 BTC or about $9 USD gets me a 72% annual return based on a midpoint between Cryptsy's high and low estimates. Additionally, if the asset is performing, a market will exist to sell it.

A more pessimistic way of looking at it:
On current revenues, each share will return 0.0002 BTC per month, or 0.0024 per year.
Cryptostocks charges a fee of 0.01 BTC ($1.80) per withdrawal.
So if you only withdraw once per year, if you bought 10 shares, you would earn 0.024, but pay 0.01 in fees.
To get the fee loss below 5%, you'd need to buy 80 shares.
If revenue increases to 1000 BTC per month (which is pretty optimistic), your 10 shares would earn 0.24, and you would pay ~4% in fees.
But unless there is something else on Cryptostocks you are happy to invest in, that means leaving your returns sitting doing nothing all year.

TR;DL: 0.01 BTC per withdrawal is a pretty punitive fee, and a discouragement to smaller investors.
(Although oddly it looks like you could change to LTC first and transfer out at only about 10% of the fee?)
683  Alternate cryptocurrencies / Pools (Altcoins) / Re: [ANN] profit switching auto-exchanging pool - middlecoin.com on: October 25, 2013, 04:39:54 PM
Shrug.
Either way, there are a bunch of shitcoins out there which serve no purpose whatsoever except to make a limited circle of insiders profit.
If multipools hasten their demise, while other, more valuable, coins survive, that seems like a positive benefit to the altcoin scene as a whole.
684  Alternate cryptocurrencies / Altcoin Discussion / Re: MasterCoin: New Protocol Layer Starting From “The Exodus Address” on: October 25, 2013, 01:31:20 PM
Basically it gives us an other way to encode Mastercoin data into the blockchain.

J.R.'s original approach was hiding the data in an Bitcoin address. The big downside to this method is that these addresses can never be spend since no private key exists. When using this method you are basically polluting the blockchain with data that can never be removed. (We call these transactions Class A)

The next solution we came up with was using multi-sig transactions. By supplying an public key that can be used when you want to spend the output we can now make sure every output we create is spendable. This stops the pollution problem. (We call these transactions Class B)

What I understand from OP_RETURN is that you can basically add 80bytes of arbitrary data to each transaction. This would give us a perfect way to encode our data in the most harmless way since these outputs are 'Provably Prune-able' and can safely be ignored when parsing the blockchain. (These transactions will most likely be Class C transactions)

I hope this explains it. If anybody spots an error let me know.

if and when MSC is considered a parasite to the blockchain the whole MSC protocol can be easily "pruned" per Gavin!   Cheesy

And the project can pay to host its own full archive node to make sure all transactions are kept.
685  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] [MΣC] Megacoin.co.nz - New formula is live on: October 25, 2013, 01:10:33 PM
Cryptsy is undergoing maintenance/upgrade give them a f break already -_-.

They've done the upgrade, and still have issues.
They are charging fees for their services, and trying to sell shares in themselves, they should be held to a business standard, not a hobbist one.
And for the last few weeks, the service has been very poor. I don't think there has been a single run of 2-3 days where trading and/or deposits weren't frozen at at least one point.
686  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][SRC] SecureCoin | A Fast and Secure Version of Bitcoin | LAUNCHED on: October 25, 2013, 11:32:15 AM
Last 20 blocks on coinmine:
Code:
88874 	49 left 	anonymous 	25/10 13:28:29 	1,560.03 	5.00 	780 	334 	42.82
88873 48 left vovik70 25/10 13:27:58 1,560.03 5.00 780 379 48.59
88872 47 left frouter 25/10 13:27:49 1,560.03 5.00 780 1,137 145.77
88870 45 left anonymous 25/10 13:25:42 1,560.03 5.00 780 1,330 170.51
88869 44 left irokes 25/10 13:24:17 1,560.03 5.00 780 298 38.20
88868 43 left deadp00l 25/10 13:23:40 1,560.03 5.00 780 1,916 245.64
88867 42 left frouter 25/10 13:21:26 1,560.03 5.00 780 177 22.69
88866 41 left feeleep 25/10 13:20:49 1,560.03 5.00 780 630 80.77
88865 40 left broooomm 25/10 13:20:37 1,560.03 5.00 780 690 88.46
88864 39 left hobot 25/10 13:18:57 1,560.03 5.00 780 1,663 213.20
88863 38 left anonymous 25/10 13:17:29 1,560.03 5.00 780 1 0.13
88862 37 left torsedor 25/10 13:17:22 1,560.03 5.00 780 76 9.74
88861 36 left yoogi68 25/10 13:16:25 1,560.03 5.00 780 689 88.33
88860 35 left anonymous 25/10 13:14:52 1,560.03 5.00 780 1,054 135.13
88859 34 left juve4v 25/10 13:14:04 1,560.03 5.00 780 560 71.79
88858 33 left anonymous 25/10 13:13:22 1,560.03 5.00 780 440 56.41
88857 32 left Stranger 25/10 13:13:18 1,560.03 5.00 780 486 62.31
88856 31 left spirotot 25/10 13:12:30 1,560.03 5.00 780 149 19.10
88855 30 left irokes 25/10 13:10:51 1,560.03 5.00 780 1,141 146.28
88854 29 left anonymous 25/10 13:10:29 1,560.03 5.00 780 999 128.07

Seems to be fine at the moment, and the pool is finding most of the blocks (20 of the last 21!), at about 1/min.
Edit: I don't know of any way to see pool history back further than that, but my auto-payments seem to have continued at about the same rate they've always been. Are you sure the pool has actually been down? If you got some example times (and timezone) when you couldn't connect, I can check my transaction history to see if I was still connected then.
687  Alternate cryptocurrencies / Pools (Altcoins) / Re: [ANN] profit switching auto-exchanging pool - middlecoin.com on: October 25, 2013, 10:30:10 AM
Evolution in action. The multipools are predators, if the alt-coins can't adapt, they die.
There is absolutely no reason for 90% of them to exist in the first place, other than for devs and those who mine in the first few days to make money on the initial dump anyway. If multipools can kill most of them off, it might actually leave enough space for some of the others to survive.
688  Other / Politics & Society / Re: US health care mandate (Obamacare) on: October 24, 2013, 06:47:17 PM
This is a problem that is to do with humanity, not ideologies or anything else, we have a very similar problem within the UK where there are a few out there lobbying constantly against the government to force everyone to buy car insurance at ridiculous prices and they all do the usual arguments of how it would mean everyone would go around uninsured and no one would be able to afford repairs etc. it's all lies.
I must be misunderstanding you.
It is already a requirement in the UK to have car insurance if driving on public roads.
You are misunderstanding me lobbying is present tense and current, they've succeeded yes but they still need to keep lobbying in order to maintain the monopoly on car insurance Tongue
There are a large number of different insurance providers, so how can there be a monopoly?

While not technically a monopoly, it's definately government led collusion by regulatory capture.  The end result remains the same, no different than the Robber Barons of the US railroad industry colluding to inflate shipping prices.  The cabal benefits so long as no players undercut the cabal, which can't really happen when government is part of the cabal.

What does any of that have to do with the provision of driving insurance in the UK?

Quote
Quote
And yes, you need to have third party insurance to drive on public roads, and a good thing too.

Sure.  I need private insurance if I desire to drive on the public roads.  But driving is an earned privalige, not a right.  I have a right to life, and shouldn't have government telling me that I have to buy a particular product to continue to exercise that right to life.  The major insurance companies have long been for Obamacare as they were in favor of Hillarycare before it.  It's only the small & otherwise innovative insurance companies that were opposed.  Stop and ask yourself why this is.

This sub-thread is about needing insurance to drive on public roads, see the bolded bits of the message I responded to. Since you agree with that, what exactly are you arguing about?
It has nothing to do with US healthcare.
689  Other / Politics & Society / Re: US health care mandate (Obamacare) on: October 24, 2013, 09:21:40 AM
This is a problem that is to do with humanity, not ideologies or anything else, we have a very similar problem within the UK where there are a few out there lobbying constantly against the government to force everyone to buy car insurance at ridiculous prices and they all do the usual arguments of how it would mean everyone would go around uninsured and no one would be able to afford repairs etc. it's all lies.
I must be misunderstanding you.
It is already a requirement in the UK to have car insurance if driving on public roads.
You are misunderstanding me lobbying is present tense and current, they've succeeded yes but they still need to keep lobbying in order to maintain the monopoly on car insurance Tongue

There are a large number of different insurance providers, so how can there be a monopoly?
And yes, you need to have third party insurance to drive on public roads, and a good thing too.
690  Other / Politics & Society / Re: US health care mandate (Obamacare) on: October 23, 2013, 02:20:56 PM
You've had a couple generations of government propaganda to help develop the attitude that you should be happy with your NHS.
[...]
I would note that I and most people in the USA are opposed to government propaganda and shaping of behavior such as is accepted in the UK.

As I said:
Quote
I'd say it also consists of people who are convinced that any socialised system (of anything) is "bad"

You don't even think it is possible that the NHS could actually be delivering a good service, do you?
691  Alternate cryptocurrencies / Altcoin Discussion / Re: [Nxt] Instant transactions with guaranteed confirmation on: October 23, 2013, 01:24:48 PM
What prevents:
1] Initiate first part of double-spend attack
2] Become special account
3] Use the account for instant transaction

The merchant will accept the second transaction, because I am a 'special' account, but the first transaction is also out there waiting to be confirmed.

If the first transactions is confirmed prior to the message of becoming a special account (or in the same block), then amount you can play with will be lowered.

If your account becomes "special" in the first place, then your transaction won't be included into a block until it fits 1/10th rule.  Merchants will see it and act accordingly.

And what if the first transaction isn't confirmed prior to that message?
692  Other / Politics & Society / Re: US health care mandate (Obamacare) on: October 23, 2013, 01:17:53 PM
But please note that this entire thread consists of people in socialist countries with state run health care systems trying to argue the sweeping generalization that socialist health care is "good", and therefore it must certainly be "good" if implemented in the USA.

That is definitely a false statement.

I'd say it also consists of people who are convinced that any socialised system (of anything) is "bad" Smiley
And the current implementation in the US seems to be a messy half and half system.
If you think that systems like the NHS 'work', a large reason for it is that they are single payer systems.
They cut out the middleman of the HMOs, who add nothing to the actual provision of care, and can achieve levels of discounts that individual smaller payers couldn't. The current US model doesn't really seem to do anything to remove HMOs from the equation, so will continue to be wasteful.

And what I've been saying has very clearly been that I am happier with what I have than with what you have. That isn't at all the same as saying that you should get what I have. You can't simply transplant something between two very different societies, in terms of political views, and expect it to work.
In the UK, the majority of people support the NHS, and believe in the state provision of healthcare, that simply isn't true in the US.
Recent governments in the UK have been increasingly trying to water down the socialist aspects of the NHS and introduce more US-style markets, and polling shows that people disapprove of those changes. I don't think a true socialised system could ever be introduced to the US, firstly for the more cynical reason that there is simply too much money being made in the current system, but at a more basic level because most Americans don't seem to support that level of government provision.
On a different hot-button issue, I'm very glad I live in a country with no right to gun ownership. That doesn't mean I think you could simply ban all guns in the US and get the same result.
693  Other / Politics & Society / Re: US health care mandate (Obamacare) on: October 23, 2013, 12:32:20 PM
And in your, and Hawker's comments, is evident a pervasive tone of 'anything state run must, by definition, be GREAT.'

No, just that it will be good or bad, as with most other things.
The contradiction of 'All state-run things are AWFUL' is not 'All state-run things are GREAT', it is 'Some state-run things are not AWFUL'.
Peoples' experiences of the NHS will vary based on where they are in the country, and what services they are using.
I'm in a reasonably affluent suburb, and I have had good experiences. My guess is that those two are correlated, and that if I was in a poor inner-city area my experiences wouldn't be as good.

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I've had "good experiences" with police in totalitarian countries and communist countries.  Others have not had good experiences with them.  (LOL)

And some people have had good experiences with police in democratic countries. Others have not had good experiences with them.

Quote
When you try to substantiate your position based on your own experiences, this is called bringing anecdotal experience in as evidence.  It is generally rejected as support for a position in debate.

And what is it called when you just parrot political rhetoric?
How does it advance the discussion more than just 'Four legs good, two legs bad'?
694  Alternate cryptocurrencies / Altcoin Discussion / Re: [Nxt] Instant transactions with guaranteed confirmation on: October 23, 2013, 12:28:30 PM
We can counteract a double-spending attack in Nxt by using special accounts.  A special account has certain limits that don't let to create transactions for more than (for example) 1/10th of the balance in total within a 24 hour timeframe.  The network will simply ignore transactions and blocks that violate this rule.

A merchant (or a vending machine) can accept payments from special accounts without waiting for confirmations.  The only thing should be done is checking that a received transaction doesn't violate the rule.

Surely all you are doing is reducing the risk of double spends to 1/10th of the account value, you aren't actually removing the risk of one happening, just the benefit if it does?
695  Alternate cryptocurrencies / Altcoin Discussion / Re: [Nxt] Instant transactions with guaranteed confirmation on: October 23, 2013, 12:26:52 PM
Instant means not waiting at all.

Instant transactions will be implemented after the Messaging feature.  That is how it will work:
1]  You publish on the blockchain a message saying that your account becomes a special account.
2]  You use the account for instant transactions.
3]  At some point you decide to empty the account, so you publish a message saying that the account becomes an ordinary one.
4]  Now you can't use instant transactions and have to wait for 1440 blocks (~24 hours) to withdraw all the coins.

You can send 1/10th of the balance a zillion times, but all the transactions except one of them won't be included into a block.  The odds that a peer will see only 1 transaction are negligibly small, if a merchant notices other transactions that exceed the daily limit they will not sell you anything.

What prevents:
1] Initiate first part of double-spend attack
2] Become special account
3] Use the account for instant transaction

The merchant will accept the second transaction, because I am a 'special' account, but the first transaction is also out there waiting to be confirmed.
696  Other / Politics & Society / Re: US health care mandate (Obamacare) on: October 23, 2013, 12:11:22 PM
....
I see, so I should ignore my own actual experiences with the NHS, and instead just accept your blindly parroted philosophical objections?....
No.  You should accept them both as true.  You've had a good experience, he's had a bad one.  And he could have a good one in the future, as could you have a bad one.

This isn't complicated.

And if that was what he had said, I would agree.
It wasn't.
He said nothing about having bad experiences with the NHS, just knee-jerk political philosophy that anything state-run must, by definition, be awful.
697  Other / Politics & Society / Re: US health care mandate (Obamacare) on: October 23, 2013, 11:53:53 AM
Are you claiming because it is technically illegal there is no free market?  A free market is not concerned about legalities.    Constraints to a free market exist when it is CONSTRAINED, as when most of a million users' products are held at the border - not when one person's products are.

Laugh.
The free market is constrained by it being illegal.
698  Other / Politics & Society / Re: US health care mandate (Obamacare) on: October 23, 2013, 11:52:56 AM
This is a problem that is to do with humanity, not ideologies or anything else, we have a very similar problem within the UK where there are a few out there lobbying constantly against the government to force everyone to buy car insurance at ridiculous prices and they all do the usual arguments of how it would mean everyone would go around uninsured and no one would be able to afford repairs etc. it's all lies.

I must be misunderstanding you.
It is already a requirement in the UK to have car insurance if driving on public roads.
699  Other / Politics & Society / Re: US health care mandate (Obamacare) on: October 23, 2013, 11:49:11 AM
You really don't understand ...

Wow, that is a real pot calling the kettle black.

Quote
NHS is state monopoly on healthcare.

You don't understand what the word monopoly means.
There are private healthcare providers in the UK. The NHS can therefore not have a monopoly.

Quote
State monopoly on ANYTHING is crappy, including healthcare or money creation.

I see, so I should ignore my own actual experiences with the NHS, and instead just accept your blindly parroted philosophical objections?

Quote
If NHS did not exist then private healthcare + free market would be much better, cheaper, more effective than crappy taxpayer NHS forced system that is pure FAIL for patients.

Yes, because we can see that has worked so well in the US, can't we?
The US free market approach results in a far higher proportion of GDP spent on healthcare than the socialised systems in Europe.
700  Economy / Economics / Re: List of Bitcoin Hostile (and friendly) Banks on: October 23, 2013, 09:03:19 AM
I am confused by this thread. How could we have 0 friendly banks listed in the US (except the IACFU)? Does nobody wire money to US banks from Bitcoin currency exchanges?
It's banks that are willing to work with bitcoin related businesses. Not being able to receive and send a wire or two to an exchange.

Again, many of the posts in this thread about about banks closing or warning about personal accounts.
Don't use a personal account for business, don't get warned.
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