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Mike -- another excellent idea. I like where you are heading with this. Any way to encode in the block chain the the price and currency of the completed trade? This way reading the blockchain could also tell you the ticker price.
You could imagine other forms of communication and time stamping using the blockchain (ie, sending binary messages in the Bitcoin amount...spy's could communicate this way, for example)
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Very cool.
The software seems to truncate the Satoshi upon deposit into the bank...is this a fee or a bug?
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I think import private key should not be exposed to average users. Sweep private key should be offered instead. Users are apt to believe that once they import a private key they have ownership of the funds. But someone else who has the private key can still swipe them, a rude awakening. Offering sweep solves this. https://en.bitcoin.it/wiki/SweepprivkeyOn the other hand, I see no reason why "sweep" would need to be under an advanced menu, any more than you'd expect "Redeem iTunes Gift Card" to be on the advanced menu of iTunes. This would make a good topic for the foundation.. |
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I'm not sure he quite understands what he's talking about, but he seems to have a gut level sense of what Bitcoin is...I'm surprised he acknowledged himself as an expert...rather than an enthusiast.
I wouldn't go so far as to say he's a waste of space and get all upset and use swear words and what not (which IMHO reflects poorly on the community)...I think the big boy thing up do is to communicate to him about him...not to us about him...
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The answer is FU.CK YOU. Everybody is able to wait one or two days downloading the last brand new videogame in their bittorrent client, or the last blockbuster movie but is too lazy to wait a day for the blockchain to download. Only a day downloading and a new economy will be available for the user. And they still complain.  Congrats. You just made my iggy list. |
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Wow. Strong work Walter. This is like...the real deal...
Why is it that I can hear Wayne and Garth saying "we're not worthy" over and over in my head...
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Fred Wilson, is a huge VC. I would like to see a post confirming that he did it and a little insight as to why. Also they say 5 companies got the business membership. Is these 5 companies including Mt. Gox and Bitinstant or excluding them?
Honestly I wish Fred Wilson would directly invest in more Bitcoins companies, if he just handing out 500 BTCs to the foundation, I don't think they deserve that funding, when they have done nothing this far, and the community has brought bitcoins to where it is.
500 Btc isn't that much money compared to a programmers yearly salary... |
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Crackdown on Bitcoin by big governments would hurt Bitcoin at least in the short term. You can not kill Bitcoin by legislation, but you can affect the exchange rate quite a bit that way!
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Whatever your feelings are for Greenpeace, I think most would agree these folks have chutzpah...my guess is that they would support Bitcoin. Anyone a member? Has Bitpay been in touch?
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If I tell you who they are, what are you gonna do to them? That's the question to ask...
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I got mine essentially for free...back when CPU mining was do-able. I mined 200 coins in one night on my laptop...Bitcoin grew so rapidly that after the next difficulty change (which was like a week after I started mining), I was way way out classed and unable to mine...so I forgot about my coins until just before the crash. I sold some as we had become unexpectedly acutely poor due to health issues with my daughter and I am very grateful they became worth something. I don't actively put money in Bitcoin, but I consider not spending the coins I have left as my investment (and as a resident physician, my 500 BTC is a huge investment for me).
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I should think a place like McDonald's would have more to gain.
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How about surveys in addition?
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http://en.wikipedia.org/wiki/Ponzi_schemeA Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors Bitcoin pays no returns. So it can't be a Ponzi scheme. The Ponzi scheme usually entices new investors by offering higher returns than other investments Bitcoin offers no returns. So it can't be a Ponzi scheme. The system is destined to collapse because the earnings, if any, are less than the payments to investors. Bitcoin has no earnings and no payments to investors. Ditto. Accusing Bitcoin of being a Ponzi scheme is a red flag that the accuser doesn't know what a Ponzi scheme is. If you want to accuse Bitcoin of anything, a very good case can be made that it is a bubble. Whether true or not, that at least makes sense. It makes no sense at all - it is a violation of the definition - to call Bitcoin a Ponzi scheme. +1. Not a ponzi....but as scammy as all fiat. |
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Uhhhh....Bitcoin is money...hence, it's a Ponzi scheme. It's a little different in that those benefitting from the scheme are all those who hold BTC rather than the printer of fiat. But, I mean, duh -- it's as much a Ponzi scheme as the US dollar or GBP.
Ponzi scheme has a pretty specific meaning. Fiat money, social security, bitcoin and a million other things are not Ponzi schemes. Anything where someone might make or lose money is not automatically a Ponzi. A Ponzi scheme is advertised as an INVESTMENT (bitcoin, fiat money don't qualify) which falsified returns are supposedly earned (social security does not do this) and later investors money is used to pay the earlier investors these fake returns. I guess I disagree here. Fiat is a ponzi precisely because its value is derived from the investment of time and effort (work) by the next guy to receive it. Over time, inflation guarantees more investment is needed to maintain value. Sure, governments don't say "join our investment with incredible returns" but the fact that they sell fiat and rely on the fact that people will do more and more work to acquire it or have the fiat collapse in value seems to fit the definition of ponzi. |
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