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9221  Bitcoin / Bitcoin Discussion / Re: Bitcoin Island/City and More on: April 28, 2013, 11:57:18 PM
Every time I read about seasteading I have to ask myself if any of the people promoting the idea have ever been at sea in a storm.

No, the folks working on seasteads have no concept of waves. They just plan on putting house boats out in middle of the ocean and having a big party.

http://seasteading.wpengine.netdna-cdn.com/wp-content/uploads/2012/01/Feb2011_Report_p1.pdf

Quote
The wave theory considered here is limited to linear deep water gravity waves, i.e. linear in the sense that
‘small’ amplitude waves will be considered, and neglecting nonlinear effects, such as for instance the breaking waves. ‘Deep water’ refers to the fact that the influence of the bottom is neglected; this is a very
reasonable assumption provided the water depth exceeds one-half the wavelength of the longest waves
considered. ‘Gravity’ refers to the restoring force associated with the waves.
By the assumption of linearity, any sea-state may be regarded as being composed of a superposition of
sinusoidal waves. The surface profile of a traveling wave can be described by h=A sin(kx-ωt), where x and
t are space and time coordinates, k and ω are the wave-vector and angular frequency respectively, and A
is the amplitude.
These quantities can be shown to be related as: ω2=gk
Subject to the standard wave relations, T=2πω, f=ω2π, λ=2πk, c=ωk
Thus, every wavelength has a different speed of propagation, a characteristic of deep-water waves. Waves do not merely act on the surface, but their effect extends into the water. The relation between
depth and amplitude of a wave is exponential, and may be represented as a function of depth and
wavelength (or wave-vector) as A(z)= A exp(-k z). Thus, the effect of a wave diminishes quickly with
depth, and shorter waves decay faster than longer ones.
This results in a complete solution for a single wave component in terms of position, depth and time35:
u=ω A cosine (k x – ω t) exp(-k z)
v=ω A sin (k x – ω t) exp (-k z)
p=ρ g A cosine (k x – ω t) exp(-k z)
where u and v are horizontal and vertical velocity components, and p is the pressure disturbance due to
waves (not including hydrostatic pressure).
One relevant yet not intuitively obvious result is that a given patch of water tracked through the motion
of a gravity wave makes circular motion. Objects floating in water not otherwise disturbed will move as
much laterally as vertically.

The above section treats monochromatic waves. The actual waters of the sea can be thought of as a
linear superposition of such waves, of varying frequencies and directions.
The distribution of frequencies is in general not completely arbitrary, but follows a distribution clustered
around a dominant wavelength. This spectrum is typically characterized by two parameters; the
‘significant wave height’, Hs, and the peak period, Tp.
Formally, Hs(1/3), or Hs for short, is defined as the average height of the highest third of wave crests.
Instead of using the complete spectrum, in this report analysis proceeds by a simplified monochromatic
wave matching the parameters of the dominant component of the spectrum. This is of course a
simplification: some crests may be far higher than Hs; in fact, a wave of nearly twice Hs occurs with a
probability of 1/1000. But beyond this amplitude, probability diminishes significantly.
Often, a sea-state is composed of locally generated waves, and the residual waves of a storm in the
distance. This latter component is referred to as swell, and typically has a low frequency. If the swell
comes at an angle to the wind generated waves, the resulting sea is called a cross sea. Such conditions
are potentially hazardous to ships, because the hull cannot be aligned in two directions at once.
One aspect of open-sea waves that is typically underestimated is their length; again, waves coming up to
the shore are not representative, as in the process of running up on the shore, their wavelength is
compressed. On the open sea, the dominant wavelength may be up to hundreds of meters.
9222  Bitcoin / Bitcoin Discussion / Re: So let's say we solved the magical problem of centralized exchanges... on: April 28, 2013, 10:24:31 PM
Ideally...a decentralized exchange would work like this:


You open the application. You have a list of bid/ask prices. Each bid/ask also has a means of payment and a user rating.

You have money in ING so you narrow the bid/asks down to using ING p2p payment. You see several options then you narrow it down again by rating (you only want 100% trusted with more than 100 trades). You see the best price for those criteria and you execute your buy. You send the money and get the bitcoin and rate the transaction.


Also, ideally, the software will include an easy API for every type of payment method for sellers. So you can hook your bank account up to the software and have it automatically send bitcoin once the correct amount has been transferred to your bank account. Even an API (all open source of course) to allow you to send money from your account in exchange for bitcoins.

If people want more access, they will set up more means of funding accounts which will give them better prices.

That is ideal. But the government destroys ideal.
9223  Economy / Service Announcements / Re: BTCShop.org - I can finally reveal my online store that accepts Bitcoin! :) on: April 28, 2013, 10:13:51 PM
My work blocks the site.

Category: Malicious Sources

Solution: Stop web surfing at work when you should be working.

I get paid to sit at a computer and monitor log files on the chance that something breaks. Like an overpaid security guard.
9224  Bitcoin / Bitcoin Discussion / Re: The problem of p2p fiat/bitcoin exchange and centralised exchanges on: April 28, 2013, 10:11:17 PM
I believe Canada was working on something like this.

This actually benefits Bitcoin because it would make conversion between the two currencies much easier, allowing people to move out of their inflationary government currencies and into Bitcoin.
9225  Other / Beginners & Help / Re: Why such agreement that Deflationary currency is a bad thing on: April 28, 2013, 10:05:30 PM
How many businesses are trading with each other? I can't buy my groceries with bitcoins or even hosting for my domains. The most developed part of the bitcoin economy is trading exchanges - one springs up every day. In other words, there is a tendency to hoard, and then change back money into fiat. That's not a good sign - if bitcoin was the future why on earth would people want to check the price against the dollar or even change it into dollars, complete with regretting that they spent their coins because they'd have made so much money if they'd hoarded it and yup, changed into dollars. The dollar should be irrelevant - but it's not...

You are making a lot of assumptions that are simply not true (very common assumptions though).

I use bittronic.net as my hosting service. I pay in bitcoins monthly.

You can buy just about anything on the Internet at bitspend.net

I spend my bitcoins all the time, I do not regret spending it any more than I would regret the amount of money I have spent on things throughout the year in dollars.

The key to a deflationary currency is that if you have the choice between having and spendng a deflationary currency or having and spending an inflationary currency, why would you choose to use inflationary currency?

Assume bitcoin gains 1% in value per day compared to the dollar (a conservative estimate).

I owe $66 per month for my dedicated hosting service on the 1st.

Dollars:
I get paid on the 15th, I decide to pay my hosting service early (since the value of my dollar goes down anyway, no need to wait). I pay $66 for the next month's service.

Bitcoins:
I get paid on the 15th, I convert those dollars to bitcoins. I wait until the 1st. I pay the equivalent bitcoin amount for $66.

For dollars, there is little change.

For Bitcoins, I have to wait 3 days to move my bitcoins to MtGox where I convert my dollars to bitcoins. Total cost: .5%. It sits in my wallet for 12 days. 12 days at 1% equals 12% gain in value minus the .5%. This gives me an 11.5% discount or $7.59.


My biggest regret with bitcoin is when I see my bank account and I have any dollars in there losing value.
9226  Other / Beginners & Help / Re: Why such agreement that Deflationary currency is a bad thing on: April 28, 2013, 06:15:37 AM
As somebody who has studied economics, can I just state that stable low inflation is the BEST course for any currency (whether virtual or fiat)?

Quote
but with my economics background, I am just echoing what major economists have communicated about the drawbacks of deflation.

Quote
I am reiterating economic theory.

You failed to mention that all of your economics teachers likely have memorized Keynes' books and worship his every word. Which is ironic because Keynes is no longer stating theories because he is dead, and thus there is no more supply of his theories and thus no inflation of further theories. So Keynes should be ignored by anyone who supports inflation.

Come back when you understand Hayek, Mises and Friedman.
9227  Economy / Speculation / Re: Amount of posts here vs Price on: April 28, 2013, 05:58:30 AM
Since the price of bitcoin is after all build on our speculation.

Reddit is more hardcore bullish than here.
9228  Alternate cryptocurrencies / Altcoin Discussion / Re: Why I think Feathercoins will be a succes on: April 28, 2013, 05:28:19 AM
I am working on an alt currency that will have 4 times as many coins as FeatherCoin.

I will call it HeliumCoin.


4 times as many coins as FeatherCoin which has
4 times as many coins as LiteCoin which has
4 times as many coins as Bitcoin.

Bitcoin: Gold
LiteCoin: Silver
FeatherCoin: Bronze
HeliumCoin: Aluminum


It should catch on well (as long as nobody comes up with a smarter plan to have an alt coin with 4 times as many HeliumCoins...VacuumCoin).
9229  Economy / Service Announcements / Re: BTCShop.org - I can finally reveal my online store that accepts Bitcoin! :) on: April 28, 2013, 04:23:08 AM
My work blocks the site.

Category: Malicious Sources
9230  Economy / Speculation / Re: will recent crash stabilize? on: April 28, 2013, 02:40:15 AM
This past week has been the closest we have seen of stability for a long time.

The Speculation section is fairly boring these days.
9231  Economy / Speculation / Re: Bitcoin is not digital Gold, it is digital Rhodium on: April 27, 2013, 09:52:00 PM
I have a Rhodium tooth.
9232  Other / Politics & Society / Re: No Taxation...Donation! on: April 27, 2013, 08:42:09 PM
The ocean is one of the most unregulated markets on earth right now.

If that were true, you could homestead a piece of it and make it your property.

If you try to do that, you'll discover there are a lot of legal regulations preventing you from doing so.

Working on it. It is called seasteading and the only legal regulations are if you are within 200 miles of any nation. Outside of that, it is open and free.
9233  Other / Politics & Society / Re: No Taxation...Donation! on: April 27, 2013, 04:41:14 AM
I would like to see our community develop tools whereby individuals could voluntarily fund projects that have been traditionally thought of as being under the purview of the state.

Coming soon.

I look forward to this.

Expect an announcement in the next few weeks.


Something to whet the appetite.
http://mason.gmu.edu/~atabarro/PrivateProvision.pdf
9234  Economy / Marketplace / Re: What's ideal to buy & sell with bitcoin? on: April 27, 2013, 04:08:52 AM
Everything on the Internet.
9235  Other / Beginners & Help / Re: What do you spend your coins on? on: April 27, 2013, 02:08:53 AM
Everything I buy online.

http://www.bitspend.net
I get a big red error message in Chrome with a warning when I click that



Maybe https://bitspend.net ?

Works for me.
9236  Other / Beginners & Help / Re: What do you spend your coins on? on: April 27, 2013, 02:08:08 AM
Everything I buy online.

http://www.bitspend.net

Do you make enough in coins to only spend coins for what you need?

As opposed to what? Making enough to spend government currency for what I need?

I have moved on from government currency.

Edit: I see what you are asking. I do not get paid in bitcoins, I convert every paycheck.

Wow, that is very gutsy.  It gives me hope that there are enough ways to spend coins to live a reasonable life.  Are there are any groceries that take Bitcoins yet?

I am in Afghanistan so my food is provided, but Amazon has similar prices on their groceries as the store and they deliver for free. You can order anything on Amazon via bitspend.
9237  Economy / Trading Discussion / Re: Writing an exchange can be hard on: April 27, 2013, 01:29:16 AM
There are sell orders (1)  for 1 BTC @ 150 USD, and another (2) for 1 BTC @ 160 USD... Now someone wants to buy both of them. So he figures that it's a good idea to put in a buy order (3) for 2 BTC @ 155 USD. What happens?

The guy cannot buy both for 155.

His order will go through on the 150 USD order and sit there with an buy @155 while the other guy has a sell at @160.

I would be pissed if I put on an exchange that I am willing to sell my bitcoin for $160 and the exchange sold it to some guy for $155.
9238  Other / Beginners & Help / Re: What do you spend your coins on? on: April 27, 2013, 01:14:05 AM
Everything I buy online.

http://www.bitspend.net

Do you make enough in coins to only spend coins for what you need?

As opposed to what? Making enough to spend government currency for what I need?

I have moved on from government currency.

Edit: I see what you are asking. I do not get paid in bitcoins, I convert every paycheck.
9239  Other / Beginners & Help / Re: What do you spend your coins on? on: April 27, 2013, 01:04:07 AM
Everything I buy online.

http://bitspend.net
9240  Bitcoin / Bitcoin Discussion / Re: Keiser said Bitcoin Foundation should run Bitcoin and set the price on: April 26, 2013, 11:00:23 PM
I used to be able to move the price of bitcoin a few ticks on my own with $10k a few years ago. It was much more vulnerable then to volatility. Now that $10k would be just a blip taken over by a few traders.

Now there is big money coming in and moving the price. In a few years that big money will be just a blip.  Whole governments will need to throw their money at bitcoin to have any affect.

Then they will be just a blip.
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