This new system is how Bitstamp works already, so you can get a preview of it there.  |
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While we are engaged in rhetorical gymnastics... Given a Pareto type exponential distribution this is an estimate of how Bitcoin wealth distribution might shake out once all 21,000,000 BTC are generated. The table shows the population of each wealth group and the approximate BTC wealth that each member of that group would hold. It shows about half of all BTC wealth being controlled by some 4,000 individuals. 80% being controlled by only 1.5 billion people. With entry to "Middle Class", and even the "1%" being marked by an amount of BTC wealth that we would consider to be a transaction fee today. And the rest living on "dust". 1
7
31
155
771
3,843
19,203
96,003
480,003
2,400,003
12,000,003
60,000,003
300,000,003
1,500,000,003
5,500,000,003 | 923,589.76733184 BTC
32,985.34883328 BTC
9,310.38071907 BTC
2,327.59517977 BTC
584.91772514 BTC
146.68604153 BTC
36.69442650 BTC
9.17475329 BTC
2.29374566 BTC
0.57343928 BTC
0.14335996 BTC
0.03584000 BTC
0.00896000 BTC
0.00224000 BTC
0.00076364 BTC |
If the entire world is using Bitcoin we will surely have switched to µBTC already. In that case the poorest 5.5 billion in your table gets 763.64 each. That doesn't sound too bad now does it? |
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gox is broken. i tried to buy 1000 coins it just sits on "pending"
Looooool, have fun buying above $70 when tomorrow it will be sub $50, and the day after that below 430. twit Have I missed somthing? You missed the Ignore button on that dude. |
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This weekend's flash crash is coming early. I've got my buy orders on Bitstamp standing by... Come to papa!  |
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Just out of curiosity, how many people do we have in this group buy?
As far as the downside of a pool goes, the fee is the biggest one. Would mining with p2pool be an option?
+1 for p2pool. We would approximately triple the size of p2pool's hash rate, so compared to mining solo it would be about a 50% reduction of variance, for free. Stats: http://p2pool.info/ |
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99.9, 3 more bitcoins needed... Last call for alcohol Avalon! |
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You might want to decide on an upper limit of how many you are going to purchase.
Imagine how hard things could be if you end up buying 100 units.
Yes, I am making the 8th unit the last one. I am already dealing with more investors than I'd like, so I'm gonna call it quits as soon as this next Avalon is payed for. I'm going to grab some dinner real fast, brb 15 minutes. Send in funds as per the OP, thanks! 8th? ITYM 7th |
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Someone sent 30+ BTC... Now we're half way to another 3 module unit. |
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Yup like worth $50k right now.
And his fees should support him but it includes electricity not exactly sure.
His 3% is after electricity costs, as I understand it. I calculated that at current difficulty and price, that would be about $90 per day for 6 Avalons. |
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I just want to point out potential issues that may be worth paying attention to.
What if you die? (I sincerely hope that doesn't happen, but it's possible, and we would presumably lose our investment). What if you get robbed or your house burns down? Someone earlier mentioned insurance, I'd be interested in this or at the very least finding out how much this would cost. Can't be that much split over so many people!
It will also be difficult to get consensus among so many people... |
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Shipped 1 BTC, details in PM.
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here's the promised link to the pics. i took a picture of my screen while on this post so you could see that i wasnt just getting pictures from the internet.
Um, that only proves the first image. Write your username and today's date on a piece of paper and place it in view in each shot, that would be proper proof that the images are yours. |
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I didn't see this thread until the offer was already closed. Might be interested in contributing 1 or 2 bitcoins if you reopen. Heck, my Jalapeño order is looking like a worse gamble at the moment.  |
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http://sealswithclubs.eu/ isn't working, I suggest you make it a redirect to the HTTPS site. Also, pokerscout.com has removed SwC from their list, probably because of the downtime and/or the above HTTP issue. Maybe the admins should shoot them an email?
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I really think we're making too big a deal of this. The "general public" already deals with this in $. Ex: $50B. $50M. $50K. $50. 50 cents. we choose the appropriate units depending on the amount. I'm sure people will figure out how to do the same with bitcoin.
I understand your point, but the billion/million/thousand specifiers aren't (relatively unknown) descending SI units in an currency looking for recognition. Most people still can't differentiate between megs and gigs on their smartphone. Ask a hundred people on the street which is worth more, a BTC, mBTC or uBTC and I'll be surprised if more than 10% even notice that mBTC != uBTC. To that end, doesn't it make sense to start using mBTC as the standard unit now, since that's the way the world will be headed if BTC/USD price continues to rise? Tell you what: when BTC settles at over $100 a pop, I vow to start using mBTC Sounds good to me, because when the exchange rate is over $100, two decimals are no longer enough to convert a dollar to BTC. Seems like a good time to go mBTC. |
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Holy flashcrash Batman! That was quite the wild ride on bitstamp, it went even lower than Gox, I got an order at 51.8 filled.
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The new bitcoin.org is live, and MultiBit is now the #1 recommendation for new users. Congratulations, Jim! |
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The directory now contains 16.3Gb of stuff  in 146 items. No it doesn't, the block files are hardlinked. |
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?? is this normal? Bitcoin needed 3 years to touch 20$
