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7841  Bitcoin / Bitcoin Discussion / Re: What happens when major banks become supernodes? on: June 20, 2014, 07:02:19 AM
If a bank runs a supernode they will charge people to use it. How, I don't know, but they will find a way.

Probably a transmission charge although I guess they could call it a Transaction Fee since Bitcoin uses those
That or a storage fee if you don't have enough Bitcoins in your account lol.
They could potentially make you send an output to their address in order for them to relay their TX.

This would actually be a good idea to incentive people to running nodes, especially when bitcoin starts to process more TX per second

Hmm a deposit address that takes a fee wouldn't that just be the banks version of Bitcoin QT/Core and the fee is added on top whenever you use their service.

Your right that would work send a transaction and the fee is already added onto the banks client before it ever sees the blockchain.

@ Este true there is no such thing as a super node but I guess the proper term is Highly centralized nodes people just like to make it sound simpler.
7842  Bitcoin / Hardware / Re: ROCKMINER ASIC miner official thread on: June 20, 2014, 06:59:38 AM
Update

The ROCKMINER Rocket Box Operation Guide:

https://www.youtube.com/watch?v=ekgsAmnNChQ&feature=youtu.be

Thanks for the update Rockxie

Looks like an easy enough install to get it set up Smiley
Cables and all ^^
7843  Bitcoin / Press / Re: Bolivian Central Bank Reportedly Bans Digital Currencies Like Bitcoin on: June 20, 2014, 06:52:44 AM
Quote
The reason? “To ensure the stability of the domestic purchasing power,” according to the board of the country’s central bank.
IMO, it is stupid reason. If Bitcoin will be using all over the world, the need to maintain national currency disappear


True I kind of don't see how Bitcoin would decrease the domestic purchasing power, more capital can freely move into the country increasing its purchasing power relative to goods and services.

Now if they said they had inflationary concerns that would still sound a bit strange considering their economy.

Second Source
http://panampost.com/belen-marty/2014/06/19/bolivia-not-revolutionary-enough-to-tolerate-bitcoin/
7844  Other / Off-topic / Re: FIFA World Cup 2014!!! on: June 20, 2014, 06:44:13 AM
Full Updated Odds on Predictious:

FIFA World Cup 2014 winner market:


That was strange I went through that list and it did not list the Netherlands
They qualify and are the leaders in Group B so someone must have missed them
Were they under another name?

Scratch that found them under Holland darn names Smiley
7845  Other / Off-topic / Re: FIFA World Cup 2014!!! on: June 19, 2014, 11:55:45 PM
This is a match Japan should have won
The Red Card is now out of play but now Japan and Greece still have a chance at this
Battle for Second

7846  Bitcoin / Bitcoin Discussion / Re: What happens when major banks become supernodes? on: June 19, 2014, 11:52:31 PM
If a bank runs a supernode they will charge people to use it. How, I don't know, but they will find a way.

Probably a transmission charge although I guess they could call it a Transaction Fee since Bitcoin uses those
That or a storage fee if you don't have enough Bitcoins in your account lol.
7847  Bitcoin / Bitcoin Discussion / Re: What happens when major banks become supernodes? on: June 19, 2014, 11:42:47 PM
so you mean a bank basically loading a bitcoin client on there server ?
i don't get it ?

what is the concern ? they will block transactions ? the other 100000000 nodes should pass them though, right ?

The concern is a decreasing amount of full nodes that relay Bitcoin transactions and that banks will control most of the full nodes in operation
Meaning that all transactions are relayed through their nodes due to mining concentration and the costs increasing to host Bitcoin nodes in time and bandwidth.
At least that is how I interpreted the OP's question hence the banks become supernodes controlling most of the nodes in the network.
7848  Bitcoin / Bitcoin Discussion / Re: What happens when major banks become supernodes? on: June 19, 2014, 11:36:01 PM
Will this be a good thing?  Adapt and survive right?

Less nodes is always a bad thing since it means that Bitcoin is more centralized
Full nodes relay transactions and the decentralized aspects of full nodes are important to keeping Bitcoin transactions confirmed and stored safely
7849  Bitcoin / Press / Re: Bolivian Central Bank Reportedly Bans Digital Currencies Like Bitcoin on: June 19, 2014, 11:17:13 PM
...“To ensure the stability of the domestic purchasing power,” ...

Talk about a statement completely at odds with reality!  A central bank promising stability is like the number two promising to be an odd number.

I agree thanks for pointing this out

Here's an unfortunate news item. It's being reported that El Banco Central de Bolivia — the Bolivian Central Bank — has banned any form of currency or coin not issued or regulated by the Bolivian government

From the date the use of coins not issued or regulated by states, countries or economic areas is prohibited, and electronic payment orders on coins and currency denominations not authorized by the Central Bank of Bolivia in the field of national payment system.”

Hmm ok pending new sources will say this looks bad Bolivia's central bank is corrupt.
7850  Other / Off-topic / Re: FIFA World Cup 2014!!! on: June 19, 2014, 10:38:17 PM
Greece just got a red card in the match against Japan
Japan will win this game in my opinion with less players he was foolish for doing that
Greeces hopes are disappearing now they need to hold off till halftime to be able to develop a strategic way to survive this with a draw.
7851  Economy / Games and rounds / Re: PrimeDice Happy Hour - 10,000 Satoshi/Min! for next hour! on: June 19, 2014, 10:36:40 PM
this is the third time i missed happy hour, lol..
Wow that means people are able to get about 0.8 btc from the faucet in just 1 hour.  Shocked

It is fairly easy getting 2 bucks worth of Bitcoin in that faucet is not unusual during happy hour
So that is around 250 people trying it on average when it comes around
Pretty solid userbase on Primedice
7852  Other / Politics & Society / Re: Events that changed the world... on: June 19, 2014, 10:06:35 PM
Medical Events that changed the world

18th Century - Homeopathy

19th Century -
Germ Theory or the X Ray

I would say the biggest one is the rise of modern medicine in the 19th Century

For a snicker this changed the world a lot Smiley
Cocaine for children Have a toothache heres some cocaine kids (http://web.uvic.ca/vv/student/medicine/medicine19c.htm)
 
20th Century - Could not narrow it to one

Blood Types - Discovering different blood types allowed for safe and effective blood transfusion

The Children of Thalidomide - Led to safety standards in drugs being increased to see the effects on the Fetus
Saving millions of birth defects and miscarriages

Radium Girls - Female factory workers who contracted radiation poisoning from painting watch dials with glow-in-the-dark paint at the United States Radium factory in Orange, New Jersey, around 1917. The women, who had been told the paint was harmless, ingested deadly amounts of radium by licking their paintbrushes to give them a fine point; some also painted their fingernails and teeth with the glowing substance.

Developed working health standards when dealing with dangerous substances and the effects of Radium on the body
Triggered the enactment of regulations governing labor safety standards, including a baseline of 'provable suffering'.

Before that no real regulations so that is worth noting.

Penicillin - Saved Millions of Lives and also began the modern era of antibiotic discovery.

21st Century

- 2003 – Carlo Urbani, of Doctors without Borders alerted the World Health Organization to the threat of the SARS virus, triggering the most effective response to an epidemic in history. Urbani succumbs to the disease himself in less than a month.

In other words effective dissension of information to prevent pandemics part of a larger contribution to healthcare with technological advancements.
7853  Economy / Economics / Re: $50k to Invest - Convince Me! on: June 19, 2014, 10:00:55 PM
I have just allocated some serious money and thinking about investing about $50k on bitcoin. Someone convince me why I should buy $50k worth of bitcoins right now!

The FBI is auctioning off its coins and the rich organizations and individuals are flocking to bid and buy them
For investment purposes or to have Bitcoin capital
If they were not a serious investment why would so much interest be around this auction.
7854  Other / Off-topic / Re: FIFA World Cup 2014!!! on: June 19, 2014, 09:46:00 PM
Well lets get this started since we are in the Pre-Game

In the 23rd Match between Japan and Greece any favorites
I say Japan in this game since they made top 16 but Greece has not passed qualifying.
That and they do not score many goals.
7855  Bitcoin / Press / Re: 2014-06-17 DigitalBTC CEO Says His Company Modeled As the opposite of Mt. Gox on: June 19, 2014, 09:42:39 PM
They can start by adding proof of assets Wink That would make them alot more open to have it published everyday.

I agree, not sure of the listing procedures on the ACC but I presume that a verifiable cold storage address would suffice
It would be a step above Gox well a lot of things would be above Gox that bar is very low so the exact opposite would be very high.
http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=DCC:AU
Anyways for the penny stock traders.
7856  Economy / Speculation / Re: We're not going anywhere, until the 51% question is answered on: June 19, 2014, 09:39:51 PM
GHash is currently 44% ... What the fuck people Angry

I see 40%
https://blockchain.info/pools?timespan=24hrs

I guess the market forgets after a while short term attention span and or it gave the community time to make a solution and seeing none is just going back to its old routes.
7857  Economy / Economics / Re: Is 1 bitcoin a decent and good investment? on: June 19, 2014, 09:37:42 PM
Crypto currencies could be $1 trillion in 10 years but that would only be a $50K Bitcoin.   The alternative is to put that money into alternates but that's Russian roulette considering there are 300+ alternates to Bitcoin.

 Technically speaking - you have better odds at playing scratch tickets or lottery tickets as they have often have like $20 prizes that are 1 in 25 odd (versus 1 in 300 in picking a Bitcoin alternerate).


Well actually its more around 800+ now but of the coins that really have a possible future its 20 to 30
Takes a while to filter them out though and some coins have surprising lifespans like Dogecoin etc.
7858  Economy / Speculation / Re: What the heck does "Wall street is going to 'move in'" mean? on: June 19, 2014, 09:16:02 PM
For some reason I get the visual of a circle of men in suits and ties agressively converging on Bitstamp with suitcases full of cash, forming a spartan shield formation and executing a suprise attack.

Similar but for me it is a bunch of men in suits with Harvey Specter coming into a downtown Manhattan Office saying here is the deal you give us what we agreed on or we will show the jury all your dirty laundry Keeples XD.

___
But in reality its probally a bunch of CEO's Companies and big investment firms all agreeing to get in big on Bitcoin and pouring a large amount of their venture capital share holdings and trusts into the sphere in companies retail banking or firms.

Or even just buying Bitcoin themselves and holding it.

but what would this look like in practice? are we sure it isn't already happening? the impression i get from many people is that they think, "wall street enters, then bitcoin to 1 trillion"

In practice it would probably be the business legal and computer departments all developing separate interests in Bitcoin and agreeing that this is a good idea we should implement it in our stores and ecosystem.

As more firms do this and provide capital towards these businesses and industries in significant amount wall street would enter and start the financialization of Bitcoin and its commodities.
7859  Economy / Speculation / Re: Bidders for US Marshalls Auction leaked by US Marshalls on: June 19, 2014, 09:13:19 PM
Apparently it's 37 people and they are not all bidders. Anyone that has asked a question appears on the list.

No. Because they replied with a PDF of FAQs and that was not one of the questions...

Could you link to that document?

http://www.usmarshals.gov/assets/2014/bitcoins/faqs.pdf

Quote
This is a sealed bid auction. You will not have the opportunity to view other bids. You will not have the opportunity to change your bid once submitted.

Thanks I was misinformed then but it does make me wonder on this part

2
5.
Can I make multiple bids?

A bid form allows you to bid on multiple blocks for the same price.

For example, you may place a bid for $X per bitcoin for 5 blocks from Series A. The total bid price in this example would be$X * 3,000 bitcoins * 5 blocks.
This counts as one bid.A single bid form does not allow you to submit multiple bids at varying prices. For example, you may not submit one bid for $X for 1 block from Series A, and $Y for 1 block from Series A.

If you wish to submit multiple bids at varying prices, you will need to submit multiple bid forms. For each bid form, you must submit
a $200,000 deposit. In addition, you must show funds available to cover the aggregate amount of all anticipated bids.

So if you want to bid a few times at different prices for blocks you need more than one form lol.

7860  Other / Politics & Society / Re: Argentina, the next Cyprus ? on: June 19, 2014, 09:06:50 PM
I read it somewhere in this forum only, more precisely in the discussion section. Hence I said AFAIK, not sure. But it seems you are confident that it is not banned at Messi's homeland. So r u from Argentina ?

I've searched both the forum and the news about bitcoin.. nothing:).

https://bitcointalk.org/index.php?topic=631949.0

The argentine central bank is said to be hostile , but there is no actual ban.

Quote
“The Central Bank is currently analyzing various scenarios to verify that transactions involving [cryptocurrencies] do not constitute a risk to those aspects which monitoring is expressly stated in its Charter. The so-called “ virtual coins " are not issued by the Central Bank or any  other international monetary authorities therefore have no legal tender and have no support . Also, there are no governmental mechanisms to ensure its official value. Virtual currencies have shown great volatility so far and have experienced substantial price changes. These implications, the risks associated with transactions involving the purchase or use of virtual coins as payment, are borne by users.”
 

http://cointelegraph.com/news/111613/argentinean_central_bank_warns_against_using_bitcoin

Clarification point
As per Bitlegal.net the legality of Bitcoin in Argentina is considered friendly although your note seems more recent so did it change?

Inflation has been a significant problem in Argentina for many years, and citizens have long held U.S. dollars as a stable currency. However, in 2011 the country began to clamp down on citizens' ability to obtain foreign currency for savings or international purchases.[1, 2] Under General Ruling 3,210, sales or purchases of foreign currency through licensed foreign exchange entities must be cleared by the Argentine tax authority, which may either validate or deny the transaction. Central Bank Communications “A” 5318 (July 5, 2012) and “A” 5330 (July 26, 2012) forbid individuals from holding foreign currency for savings purposes. Argentinians hold an estimated $160 billion in US currency. In an effort to inject this money into the Argentine economy, the government began issuing certificates, known as Cedines, in return for dollars turned in by individuals as part of a tax amnesty plan.[3] The financial regulations and fluctuations in the Argentine peso have created a vibrant environment of personal bitcoin users who view the digital currency as a safer option than anything provided by the government - this is currently manifesting as a shadow economy.[4] Although there have been no official pronouncements from Argentina’s government, use of bitcoins is a poorly kept secret, so it is fair to call the government “permissive” - for now.

http://bitlegal.net/nation/AR.php
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