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7681  Other / Off-topic / Re: US Reaches Debt Ceiling, China Bond Auctions Fail on: May 17, 2011, 04:43:26 PM
Tell me you don't think the republicans will reduce spending...  Cheesy
Honestly, I doubt it.  But at least that's what they're "supposed" to stand for.  Dems are always for more spending, more give-aways to lazy people, more share the wealth, etc etc.
7682  Other / Off-topic / Re: US Reaches Debt Ceiling, China Bond Auctions Fail on: May 17, 2011, 04:37:38 PM
So how about we reduce spending, eh?  What a novel idea, that all the democrats and socialists of the country just don't seem to grasp.   Roll Eyes
7683  Other / Off-topic / Re: Domain Name Squatting on: May 17, 2011, 04:33:17 PM
It's annoying as heck.

Oh well, at least bitcoinfeedback was still available.  Smiley
7684  Bitcoin / Bitcoin Discussion / Re: POLL: How many bitcoins do you CURRENTLY have? on: May 17, 2011, 04:16:05 PM
This should probably be more Gaussian, but I'm putting it out anyway as a thought experiment:

1 person, Satoshi, has a million BTC
10 have 100.000 BTC (2 MIO total)
100 have 10.000 BTC (3 MIO total)
1000 have 1.000 BTC (4 MIO total)
10000 have 100 BTC (5 MIO total)
100000 have 10 BTC (6 MIO total)

1 + 10 + 100 + 1 000 + 10 000 + 100 000 = 111 111 users

Very interesting... I wonder how well that would actually match up with the real-world statistics.
7685  Bitcoin / Bitcoin Discussion / Re: [RFC] New TX fee: 0.0005 BTC on: May 17, 2011, 04:09:59 PM
random off-the-wall idea: how about making the minimum tx fee track the difficulty changes?

since difficulty itself is a function of price, albeit with quite a bit of hysteresis, setting min tx fee changes to track difficulty changes via some kind of monotonic inverse-relationship function would automagically set tx fees to reflect bitcoin value, in a one-step-removed kind of way.

(again, just as a stopgap, until better code to 'free the tx fee market' is in place)
I don't think that would be a good thing.  If the tx fee resulted in more bounty than it costs in electricity to mine, then you're essentially saying, "Keep buying mining hardware, because the transaction fee will keep increasing to match."  It could/would get to the point of no one wanting to make any more transactions with fees because the minimum fee was so high.  At that point, mining would collapse on itself.

The best way to deal with fees is already being used.  By forcing a scarce supply of transactions, it can force people who need their money transferred quickly to post a fee.

I think the biggest issue with it is that some transactions are waiting days or even a week before being completed.  That is too long, and a detriment to bitcoins as a payment system.  I think it is extremely important that NO transactions, free or not, are waiting to be completed for more than 24 hours.
7686  Other / Obsolete (selling) / Re: WTS Just about any product you can find on Newegg.com for BTC!!! on: May 17, 2011, 03:25:51 PM
I sent an email, but you didnt answer.

I want to buy this hd5850, N82E16814102932 and ship it to Santiago, Chile.
Fedex says that Chile is a zone L country, and they charge about 90 usd for 2lb of cargo.

So, how much would be the deal? And do you use clearcoin?



GA-583UD1G   GIGABYTE ATI Radeon HD5830 1GB DDR5 2DVI/HDMI/DisplayPort PCI-Express Video Card   $249 each

I have never used clearcoin before,  but I am open to the idea.

That 5830 is kind of expensive, newegg is selling them for 109 usd, and 5850s for 129. I thought you bought them directly and then sold them? Also, I guess I can trust your business, no need for clearcoin.
I demand a link/proof for the 5850's!
7687  Bitcoin / Mining / Re: A Bitcoin Mining Company - SkepsiDyne Integrated Node on: May 17, 2011, 07:04:01 AM
I have a feeling that inexperience is going to come around and bite you.

I'm going to bet that the geothermal climate control wasn't designed with that amount of internal heat generation in mind.  If it's like most then it's designed to keep the temperature constant vs outdoor temperatures if it was designed for storage.  It'll work for a bit but once the geothermal sink gets saturated with heat you'll loose most of your cooling capacity.  I'd have an engineer experienced with that system run the numbers you're looking at to see if it's even capable of handling that amount of heat on a constant basis.
Meh.  Open the windows = problem solved.  Tongue

No, but seriously, I'd get going with mining, THEN worry about adding additional cooling as necessary when the geothermal isn't able to keep up.  It'd be a waste of money to worry about the cooling system first.  Sure, it might not keep up.  Worst case scenario?  Some of the miners are shut down for a few days while a better cooling system is put in place.  Worst case scenario by worrying about it right now?  Fewer rigs to mine with, since funds would be used towards getting professional opinions.  And a later startup date, since he would be delaying the purchase of equipment until said professionals came back to him with info.

As a shareholder, I vote for getting mining rigs up and running ASAP, then deal with any issues that crop up as they arise.
7688  Bitcoin / Mining / Re: HD5850 @ 340Mhash/s on: May 17, 2011, 04:54:53 AM
unxetas: thanks ... I was also thinking it might be the card has some microdamage because it was running at 79C all night one night because I thought that leaving the side of the case on would make it quieter and thus easier for me to sleep... if i leave the side of the case off it stays at a good temp.. but I would like to play around with this card and try more overclocking settings and a green coolant setup. The other thing is that it may be possible to get a high hash rate but how do you know your hash accuracy?

79C should not kill your card, not even a reference card.  It may reduce the MTBF some, but you should still be taking years on average.
I would have no problem running a card at 95 or 100c 24/7.  The safety features for clocking the card down don't even kick in until 110 or 120c, and I've never heard of anyone killing a card due to temps below that.
7689  Bitcoin / Bitcoin Discussion / Re: Anyone know what happened to knightmb and his 371,000 BTC? on: May 17, 2011, 04:30:16 AM
I'm not one that is going to dabble in tax evasion and risk getting huge fines.  It's in my own self interest to pay taxes.

I would never suggest tax evasion. And I agree that it is in your self interest to pay taxes. But only due to fear of the repercussions from not paying them. Not because you agree with what they are use for.
Ah, ok.  Sounds like we are in agreement then.  Wink
7690  Economy / Economics / Re: Value of bitcoin denominated shares will eventually approach 0? on: May 17, 2011, 03:50:17 AM
We do talk about "putting X in BTC", but this isn't really what happens from a global perspective. Nothing gets inside anything except from one person's perspective. When I trade USD for BTC. It feels like I'm putting my dollars into BTC, but obviously someone else is taking out the exact same amount at the exact same time. Nothing is lost or sitting idle. The same is true if I work for bitcoins. My work still accomplishes the exact same amount regardless of how I take my pay.

The reason most economists say that inflation is good is that it funds the government that pays them. It's really easy to overlook things when your livelihood depends on it.
Even independent economists will tell you the same thing.  And it just makes sense, really.  If you have less incentive to place your extra funds into investments, then fewer investments will be made.  With fewer investments come larger barriers to entry and startup costs that have to be paid by the company founder.  With fewer companies comes fewer jobs.

More investment does not mean better investment. Only endeavors that make people better off should be using resources.

A good currency is a guide for telling people what is creating wealth and what is not. 

More jobs is not necessarily a good thing. If there is a way to accomplish something with less work is that worse?

I think there should be exactly the number of jobs that people want. Currently we have mega distortions. People being forbidden from doing certain things and forced to do other things or pay a certain amount and not another. This results in the loss of jobs that people actually want which is tragic.

But the answer is to let people be free to work as they like or need to and not to do things like manipulate the currency so they are too poor to stop working.
Hard to argue with that reasoning... good thoughts.
7691  Economy / Economics / Re: Value of bitcoin denominated shares will eventually approach 0? on: May 17, 2011, 03:26:15 AM
We do talk about "putting X in BTC", but this isn't really what happens from a global perspective. Nothing gets inside anything except from one person's perspective. When I trade USD for BTC. It feels like I'm putting my dollars into BTC, but obviously someone else is taking out the exact same amount at the exact same time. Nothing is lost or sitting idle. The same is true if I work for bitcoins. My work still accomplishes the exact same amount regardless of how I take my pay.

The reason most economists say that inflation is good is that it funds the government that pays them. It's really easy to overlook things when your livelihood depends on it.
Even independent economists will tell you the same thing.  And it just makes sense, really.  If you have less incentive to place your extra funds into investments, then fewer investments will be made.  With fewer investments come larger barriers to entry and startup costs that have to be paid by the company founder.  With fewer companies comes fewer jobs.
7692  Bitcoin / Bitcoin Discussion / Re: Anyone know what happened to knightmb and his 371,000 BTC? on: May 17, 2011, 02:49:42 AM
Or, we could just discuss existing tax laws like adults, until someone like you comes along.  Huh  And I'm not a leech of the government teat.  I am a working individual who abhors the absurd amount of welfare dollars we give away every day, all the while going into deeper and deeper national debt.  I would like nothing more than to see all of the welfare-driven programs abolished, and the tax rate halved because of it.

Apparently, trickery, cheating other people, and tax evasion is ok in your book.  Remind me never to do business with you.

None of those things are necessary. As unrealistic as it might sound to you, if you disagree with the way taxes are being spent, live your life in a way that will ensure that you pay as few taxes as possible. I know this is difficult for most, but it's hypocritical to claim you disagree with the welfare/warfare state while continuing to pay for it.
Does anyone live their lives in a way that doesn't minimize taxes?

I'm not one that is going to dabble in tax evasion and risk getting huge fines.  It's in my own self interest to pay taxes.  Not the best thing for the community as a whole, and maybe you're right, in that I am somewhat hypocritical, but I'm not interested in going head to head with the IRS.  I DO take every deduction I can put my hands on (even though I hate deductions, and would much rather see a flat tax).  This last tax season, my effective tax rate ended up at a paltry 0.66%.

I like to voice my opinion on matters to hopefully listening ears, and I'll cast my vote in the ballot box, but in the end, I'm going to do what is best for me and my family.  And that includes paying taxes so I don't get my rear handed to me on a silver platter by the IRS later on in life.
7693  Bitcoin / Bitcoin Discussion / Re: Anyone know what happened to knightmb and his 371,000 BTC? on: May 17, 2011, 01:55:46 AM
It is sad, sad statement of the mindset of society that a thread about a glorious win by an enterprising, far-sighted individual gets turned into a sordid discussion of taxes and various other leeches wanting to bleed him of his new found wealth. You should all be ashamed ... in fact some of you are probably on the gubmint teat and this is your angle to get hold of something you were never entitled to, i.e. a slick form of theft.

You guys are all just so far gone and fucked up by the statist brainwashing that it is too late, I fear .... even bitcoins will not save you if you are not prepared to stand up to the looters ... and Just Say No! ... hands off my wealth fuckers.
Or, we could just discuss existing tax laws like adults, until someone like you comes along.  Huh  And I'm not a leech of the government teat.  I am a working individual who abhors the absurd amount of welfare dollars we give away every day, all the while going into deeper and deeper national debt.  I would like nothing more than to see all of the welfare-driven programs abolished, and the tax rate halved because of it.

Apparently, trickery, cheating other people, and tax evasion is ok in your book.  Remind me never to do business with you.
7694  Bitcoin / Bitcoin Discussion / Re: Anyone know what happened to knightmb and his 371,000 BTC? on: May 16, 2011, 11:56:19 PM
Is it actually a crime to literally burn money?
Yes, but I don't think anyone has ever been prosecuting for doing so.

It's also a crime to deface money in any way (i.e. writing on it, etc).
7695  Other / Obsolete (selling) / Re: Selling PS3 on: May 16, 2011, 11:55:38 PM
I'll give you 20 bitcoins for it.
7696  Bitcoin / Bitcoin Discussion / Re: Anyone know what happened to knightmb and his 371,000 BTC? on: May 16, 2011, 11:53:10 PM
What if bitcoins are not produced for sale but as a long term investment?

What if the bitcoins are destroyed?  Are you burning legal or illegal tender?
You're not burning tender at all, according to the US.  Wink

Unless they recognize it as a currency.  Then they'll throw you in jail for it.
7697  Other / Obsolete (selling) / Re: Selling PS3 on: May 16, 2011, 11:48:07 PM
What model of PS3 is it?  Any games?  Controllers?  A/V cables?  Power cable?
7698  Bitcoin / Bitcoin Discussion / Re: Anyone know what happened to knightmb and his 371,000 BTC? on: May 16, 2011, 11:45:04 PM
As long as the US does not recognize bitcoins as a currency, there will be no taxation of mining or taxation of valuation gains until the bitcoins are sold.

If bitcoins are ever considered a "foreign currency" under US law, they would likely be subject to tax laws on ordinary or capital gains BEFORE being sold, and maybe tax on foreign currency transactions is what unk was trying to get at.  Hard to say whether currency produced out of thin air would be considered a gain on a currency transaction though.  Tongue

http://www.maximadvisors.com/knowledge-library/US-Taxation-Foreign-Currency-Gains-Losses.html

But, in order to be taxed in this manner, the US would be forced to recognize bitcoins as a legitimate currency.  Cheesy
7699  Other / Obsolete (selling) / Re: WTS Just about any product you can find on Newegg.com for BTC!!! on: May 16, 2011, 11:16:13 PM
I sent an email, but you didnt answer.

I want to buy this hd5850, N82E16814102932 and ship it to Santiago, Chile.
Fedex says that Chile is a zone L country, and they charge about 90 usd for 2lb of cargo.

So, how much would be the deal? And do you use clearcoin?



GA-583UD1G   GIGABYTE ATI Radeon HD5830 1GB DDR5 2DVI/HDMI/DisplayPort PCI-Express Video Card   $249 each

I have never used clearcoin before,  but I am open to the idea.
Honestly, as a large vendor, I wouldn't do it.  You've already established yourself as a trustworthy vendor here, so there is no reason that a customer should need to use clearcoin besides to screw you out of your bitcoins (which has happened before several times).

I suppose you would have their address, but even still, the possibility of recovering lost funds from a customer reversing a clearcoin transaction would be slim to none.
7700  Bitcoin / Bitcoin Discussion / Re: Targeted bitcoin spam email on: May 16, 2011, 11:11:46 PM
Well, at least nobody fell for it.
Win.
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