One troy pound of silver is composed of 12 troy oz. Each troy oz. has 480 grains, as opposed to the "normal" ounce of 437.5 grains.

Well other than a more secure network, for the first few weeks as new ASIC hit the network and blocks are found a little faster than normal confirmations will go quicker to, correct?  If I understand things correctly short block discovery from an abnormally low difficulty will allow for quicker confirmations.  Then after each 2016 blocks it will adjust.  So there should be windows of time that blocks are found quicker than 1 every 10 minutes.  At least until we get the bulk of the ASIC on the network.

I guess it might not even be that noticeable, but its a thought.  What are your thought's or expertise?

The *...* emphasis was basically an attempt to differentiate "will eventually comeday quite likely really really seem to actually right then urgently need" from "we right now do urgently need it, we are losing adoption rate and suffering lowering exchange rates every hour or day we fail to get a higher limit into use".

Yes the apparent/seeming "need" will tend to tend upwards.

But, constantly pulling the rug out from under infrastructure development that also will tend to seem more and more "needed" in a basically fundamentally doomed attempt to turn the world's highest difficulty currency-of-final-international-settlement into a retail payment processor so people can buy penny candy using e-currency despite no longer having pennies in the snailmail world doesn't seem a productive response.

We not only have 1 megabyte per ten minutes of international final settlement transaction space, we also have, secured by that same hashing power, several other sets of blocks (namecoin, devcoin, ixcoin, i0ccoin, groupcoin, coiledcoin, and it is easy to add more) that have already established tendencies to cater to lower-value transactions (by using lower-value coins).

So if people still feel a need to spam out to the world trivially small value transactions (which to the primary chain might mean less than a few thousand dollars worth, to the first secondary chain might mean less than a few hundred dollars worth, to the second primary chain might mean less thans of dollars worth (at this early stage; later multiply all those figures by a power of ten from time to time as adoption proceeds).

So plenty of space is out there for low-value transactions, and more can be added very easily and moidularly (add another chain, add another chain, all the time each chain remaining fully and easily within the capabilities of a single home computer on a home internet connection to fully verify).

-MarkM-

If I have the release candidate installed should I update it as well? Is there a difference to the actual release?

Parity with one pound (16 oz) of silver. That would mean BTC wiping out centuries of depreciation in the oldest currency the Pound Sterling (GBP) in a matter of a few years. Or to put it in another way parity with what a GBP used to be worth.

IMPROPERLY FORMATTED TITLE

if this nutty buying keeps up....  I lose my bet 

why don't all miners modify their client and use the 1MB limit so they can include more transactions and collect more transaction fees? it can't be because of propagation speed, if propagation speed was that important they would include no transactions at all

I've seen it mentioned on the forum many times that there's currently an "artificial" limit of 250kB per block, what does that mean, compared to the 1MB limit?

Since I recently got out of bit jail I thought I's sing a song, but I'm bad at  lyric.

Can we finish this?

He's a good girl,
Loves her NASCAR,
Loves Beavis,
and American Dad.

I'm a bad boy,
South Park's awesome,
Kill Kenny,
You bastards, are Chef's slaves.

Chorus:
And I'm free,
Freeballin'
Yeah I'm free
Freeballin'

Where can you see this information?