I added a bit more cooling..  fuck me! nice miner. What's the computer behind it doing? |
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The way I understand it (and propose to bet on it), is :
If the price of gold go above 1900$ I win and the bet is closed
If the price of gold go under 1500$ my opponent win and the bet is closed
If non of these conditions are realized, the bet is void
I see. I won't bet against that. I think it's likely it'll go above $1900, but I also think it's quite possible the $ will die before gold goes below $1500. It might go below $1500 worth of SDR or something, though, but probably not before it hits $1900. |
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Quietness and humbleness are oozing from thread.
so you've declared victory? it's all over; gold is going to $30,000/oz? what is exactly your prediction so we can put it on the record too? I predict that gold will go over $1900 before it goes under $1500. Are you predicting it will first go over $1900 and then go under $1500 or are you predicting it will not go under $1500 without going over 1900$ first? |
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you can bet your ass that the USD side will never run out of ammo
Unless their printing presses run out of ink. business proposal: sell ink for BTC |
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What do you do with a namecoin? I have a few  The same as LTC:) Namecoin has some "real use" (buying .bit domains), however slim that use might be, taking the view that any commodity must have (had) a "real use" before being used as money to "bootstrap" the value, namecoin should be more apt to be used as money than bitcoin. Bitcoin managed to bootstrap it's value some other way (10,000 BTC Pizza?), so I think above view has to be abolished or at least somehow modded. All the AltCoins are good, they each teach us some thing or other and maybe some other good will come from one at some point. I doubt (at the low level of innovation of the to-date invented OtherCoins) any of them will be a serious competitor to bitcoin. Niche-product? Yes, maybe. Playground? Definitely. Objects of speculation? Yep, but for a very small group of people. |
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Is there a config option or cmd-line option to "not show splash screen"?
It annoys the hell out of me because it covers my stuff and can neither be moved nor closed (using weird window manager).
No there is not, but fear not, the next major release (with multi-threading) will do away with the splash screen completely! I'm just finishing butchering the code base to get the multi-threading code implemented. There will be lots of testing, but hopefully only another week or two before it's done. awesome! btw: last git pull I did (after about 6 weeks of abstinence) was the first one that didn't get me into any kind of trouble regarding being able to run Armory. Before I had all kinds of issues after updates about 2 or 3 times. Thanks for making things more smooth over time. |
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trust to what?
Trust for transactions, escrow, etc. I'm not naming them, but it'll be the ones I know where to physically find  |
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Underground Hip-hop IE: Immortal Technique, Hopsin, Jedi Mind Tricks, ETC
90's Old School Hip Hop IE: wu-tang clan, beastie boys, Dr. Dre, Snoop Lion Formally Snoop Dogg
hehe, just heard the beastie boys on your stream: "Professor? What's another word for pirate treasure? Well, I think it's 'booty'". |
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Is there a config option or cmd-line option to "not show splash screen"?
It annoys the hell out of me because it covers my stuff and can neither be moved nor closed (using weird window manager).
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Just got this client, it looks cool. Of course I copied my words to a random notepad doc I was using for other stuff.
If I understand correctly what you did, I don't think that's a very good idea. An attacker having gained access to your drive could quite easily search for the words in lib/mnemonic.py and find your sentence pretty quickly. |
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could it still reach those incredible highs of $1000/btc and beyond, in some years?
It could even reach these highs without serving any economy (think of gold) |
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For example, an (arguable) estimation of US total economic production is it's GDP of ~14T if I'm not mistaken. That's much more that the entire USD money supply. Granted, you must better define "money supply" as many things may be used as money... but if you take for example the M2 aggregation for USD, that's around ~10 bi according to wikipedia. More than 1000 times lower than the GDP...EDIT: Oups, my mistake, USD M2 is actually close to 10T... so yeah, not that far from the GDP, but that's still just a coincidence.  The M1 is lower. And bitcoin's 21M cap is the M0 of bitcoin. USD M0 is around 2,8T. Anyway, my point is, money supply != economic production in a year. You can't compare "black market production" with bitcoin's monetary base of 21M and reach any meaningful number. Halfway there. You are right money supply != economic production. However you can't say the relationship between GDP and money supply is coincidence. The two are very much linked. (Money Supply) * (Average Velocity of Money) = (Economic Production) One reason the US money supply has grown so much is the depression combined with poor govt policies has caused a collapse in the velocity of money. The two numbers are very close because velocity is only a little over 1 (each $1 in money supply is only changing hands once per year, think about how pathetically bad that is). We can make educated guesses about the velocity of money in the bitcoin economy and thus solve the above equation for money supply. Hmm, interesting. A question: when measuring "velocity of money", you'd count the money that changed hands in exchange for goods and services? I'm a bit unclear on this. Let's make an example. I buy raw materials from a miner for BTC 100, pay an employess BTC 50 to produce some good and sell it for BTC 200 to you. What would be the measurements for (Economic Production) and (Velocity of Money) in this example? |
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We will not have hyper-deflation in the "developed" world.... We will not have hyper-inflation either. Just reasonably high inflation and debt crises.
What is "reasonably high" and what measure of inflation would you use? |
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A useful feature would be for the wallet/client to record the last address backed up and warn the user when they are down to say less than 10 new addresses remaining in the last backup.
Not necessary. According to freewil (see my above post: https://bitcointalk.org/index.php?topic=105183.msg1151980#msg1151980), the keypool is constantly being refreshed to contain <keypoolsize> unused keys (unless the wallet is kept in a locked state). Since the wallet is being unlocked when you get a new address, the suggested warning should never be displayed. I think you misunderstand. "less than 10 new addresses remaining in the last backup" I am not saying warn the user once the keypool has less than 10 addresses (which will likely never happen). I am saying warn the user when less than 10 addresses existing in the keypool which are also recorded in the last backup. If the client records in the wallet the newest key in the keypool at the time of the last backup it can know at any time how many more keys can be used before the backup is out of date. oops, you're right. I read too fast. Sorry 'bout that. This is a good idea! |
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A useful feature would be for the wallet/client to record the last address backed up and warn the user when they are down to say less than 10 new addresses remaining in the last backup.
Not necessary. According to freewil (see my above post: https://bitcointalk.org/index.php?topic=105183.msg1151980#msg1151980), the keypool is constantly being refreshed to contain <keypoolsize> unused keys (unless the wallet is kept in a locked state). Since the wallet is being unlocked when you get a new address, the suggested warning should never be displayed. |
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when do we know that we have ran out of keys?
too lazy to google, I asked on irc: <molecular> Is there a way to check how many unused keys are in the keypool?
<freewil> molecular, from my understanding you should always have keypoolsize unused keys
<freewil> unless your wallet is locked
<freewil> in which case it wont generate more keys until it's unlocked
<freewil> bitcoind getinfo has "keypoolsize" and "keypoololdest"
<molecular> freewil, allright, thanks for the info
<freewil> you're welcome
makes sense. I guess this clears up many questions here. |
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i'm surprised the client itself doesn't ask you to backup your wallet when it first runs.
It stupid how they oversimplified to a point where the product is IMO defective (how many new computer semi literate people can be bothered to unhide their files and backup that wallet?)
What? There's a menu item to back up your wallet (File -> Backup Wallet) |
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You need to backup it before you put money into it. And then backup it when you create new address in it.
addresses are pre-generated (default 100?) |
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