I managed to login using LastPass+Chrome by removing the 'onsubmit' javascript thingy using 'Inspect Element'. (:

In the current version of the protocol, there most certainly is such a thing. That it can be changed in newer versions doesn't change that.

The miner who processed your transaction got the transaction fee.


A "bitcoin" is defined as 100,000,000 base units. Ownership (the right to transfer the base units) is tracked by the transactions.


I'm not sure what you mean. Miners are not obligated to include any transactions and it does happen that they only include transactions that have a fee.


This is only an issue with the mainline client. Additionally, you'd still have to create blocks with the current difficulty which is quite hard.

Sorry, the Mt Gox dollars have been sold.

Usury is a favorite past time of mine when I'm not busy clubbing seals or eating babies.

Hiya,

I have $160 sitting in my MT GOX account doing nothing. I am willing to lend them out to a reputable user for 5% per started 30 day period with an upper limit of 180 days. You can borrow all of the dollars or any fraction of them.
So, to be absolutely clear, if you borrow $100 for 7 days, you will repay me $100*1.05 = $105. If you borrow $100 for 45 days, you will repay me $100*1.05^2 = $110.25

Feel free to bid higher than 5% if you're interested.

Providing extra-market incentives for people to spend rather than save - to consume now rather than later - will lead to inefficiencies and misallocations. Purchasing power naturally changes over time and the market rate of the currency accurately represents this. Hence, any monetary grain associated with deferring consumption reflects a genuine increase in the quantity and/or quality of produced goods/services and is not merely an artifact of the currency's non-depreciating nature.

Since the temptation to consume now approaches infinity as the savings rate goes up, there is no feedback loop.

Price stability is desirable in many situations and should be bought at the market rate.

This is the Austrian position as I understand it.

Should probably say 'what' instead of 'why'. Unless bitcoins can somehow impregnate people over the internet, of course.

Coins received. Thank you.

I'm totally fine with a 6/6 split. My address is 1JMrMgWsWVKuSxESAg8VSXvhjCvBN3NCBD.

Well, it will never hit 21 millions. Like cutting something in half will never make it disappear altogether.

If you want a limit of 21,000,000 and a demurrage of 3%, the number of bitcoins added per block should be: 875/73 or ~12. This can be calculated with the equation I posted previously: max number of coins = blocks per year * coins per block / demurrage.
We can now use our CAS software to figure out how many years it'll take to generate X% of the coins: 50% is generated in 23.1 years, 90% in 76.8 years, 99% in 153.5 years, 99.9% in 230.2 years, and so on.


Yes, 'x' is time in years and 52560 is indeed the number of blocks per year (which is not quite accurate as Holy-Fire points out).
Y is the total supply of coins for a given year and is defined (it is the antiderivative of y') as: y = 1752000*(1-e^(-0.03x))

With 52560 new coins per year from mining and a 3% demurrage, the growth of freicoins is defined as such: y' = 52560 * e^(-0.03x)

The total number of freicoins for a given year must then be: y = integrate(y', 0, x)

Using those definitions we can calculate that 50% of the coins will be generated in a little over 23 years, 90% of the coins will be generated in nearly 77 years and it will take 153 years to generate 99% of the coins.


The number of coins produced approaches 1,752,000 as time approaches infinity. To calculate the limit, use this equation: 52560 blocks per year * coins per block / demurrage.


You can't change both the coin limit (21 million) and when the limit is reached (2033, 21 years from 2012) by only changing how many coins are issued.

By issuing around 25.6 coins per block you will hit 21 million in 21 years but the max number of freicoins will be ~44,900,000. However, with a demurrage of 17% and 70 coins per block, you'll hit 21 million in 21 years with a limit of 21.6 million coins.

PM me if you feel that I deserve the reward(s).