86 million will be the total, read the OP

Not useful? How about you post the first 13 digits of your 16 digit credit card number. That means I'd have a 1 in 1000 chance (.1%) to guess your credit card number. Care to try me?

I should have really trimmed out that quote chain...

I'm not claiming 20% is a potential attack, that was someone else. I just wanted to provide a USEFUL response to your statement instead of the X-Files face palm someone else gave.

Well sure, that can and will happen, but the new competing currency must first be superior to devalue the old currency, as the failures of Ixcoin and I0coin have demostrated. The primary purpose of this currency is as a means of exchange rather than a store of value anyway so a new superior currency would be embraced, not fought.

Saving as in "holding your money on your wallet" is discouraged, saving as in "trying to maintain your purchasing power somehow" is not. The only thing that changes is the way to save; instead of just holding it you buy assets like stocks, bonds, ETFs, commodities, etc.

Here's a more useful one:

Variance means that even with less than 51% of the hashing power you have a chance, albeit a smaller one, to disrupt the chain. For example, a bunch of people freaked out some weeks ago because the Bitcoin chain managed to get... I think it was like 3 blocks in a 10 second period? People also often freak if there's the occasional hour between blocks, but this has happened MANY times without a drop in hashing power.

Think of it this way: Take, say, a d12 for roll playing, and assume you and several players are sitting at a table, and to "win" the game you have to roll a 1. The average chance of you rolling a 1 is going to be 1 in 12, but...

You could roll that 1 result twice in a row, or, you could get 24 rolls in a row... that come up with a different number. In a large enough sample set, with a truly balanced die to roll, it'll just about always be "even" among the different numbers, but if you're looking at just a few rolls in a row...

If you play many games with dice, cards, etc, it only takes a moment of pondering that before you can realize that if you were to roll that die 12 times, it's quite possible for you to _NOT_ get each number exactly one time.

Now imagine the block chain lottery as rolling a die with 115792089237316195423570985008687907853269984665640564039457584007913129639936 sides... (Someone correct me if I'm remembering wrong and it's not a 256 bit hash in use, please.)

You seem to misunderstand now cryptocurrencies work. Read over http://en.wikipedia.org/wiki/Variance and come back when you understand it.

In this currency the available supply will always be close to 100% of the base because demurrage is taken from every address and given back to miners as part of the block reward. So money that got locked up due to lost private keys will slowly get back in circulation.

  Savings and loaning out savings are an important part of economic growth, demurrage provides a disincentive for this.

What? Loaning out your savings is certainly encouraged by demurraged. If you just leave your money sitting in your wallet then you'll slowly lose it.

Creating clones of a currency doesn't make the original non-deflationary as they are not part of the same network.

The effect of demurrage on people's purchasing power is basically the same as inflation so I don't see why they wouldn't be able to accept it. Currencies with demurrage have already been successfully introduced by the way.

As can 49%, 40%, 20%, etc., they just have zero chance of succeeding.

I think what makes the alt currencies silly is their transparency in that they only exist because people are trying to get in "early" on something like bitcoin in an effort to make the same money that BTC early adopters did. Thus far, none of these alt currencies offer anything that bitcoin can't in the near future.

So basically you have a bunch of people who are driven by greed. I mean, might as well start investing in Testnet too, right? What's the conversion rate there? 

While you are correct with cash, you are not with credit cards. Credit cards take at least a day to actually confirm. The "instant" verification that credit cards do is no different from a 0/unconfirmed Bitcoin transaction.

I believe both Bitcoin and its clones will fail to reach mainstream acceptance because they have a serious economic flaw, which is that deflation severely hurts investment and borrowing. I think a deflationary currency with demurrage will have better luck at stimulating economic growth.

Are you just stating this as a general problem or are you suggesting that SolidCoin solves/helps with this problem? SolidCoin has 3 minutes between blocks, right? I don't see how that makes much of a difference. The thing is, you still need to take variance into account. Sure, on average you have a block every 3 minutes. But that means that for a 95 % chance of finding a block, you need to wait about 9 minutes (math here: http://www.wolframalpha.com/input/?i=-log%281-0.95%29%2F%281%2F3minutes%29 ). Which in turn means, that in 5 % of the cases you actually have to wait even longer than 9 minutes. So what have we really gained?

Sure, there might be situations where "wait for a little while" (SolidCoin) is acceptable whereas "wait for quite some time" (Bitcoin) would not be. But I can't think of that many situations to see this as much of an advantage.

Yeah Bansal != Satoshi.

Unless I missed something, then that's correct, but only if you interpret it in a certain way.
With the same relative hashpower vs. the rest of the network, over the same # of blocks, chances of finding X blocks in a row are the same, doesn't matter if avg. time/block is 10 seconds or 10 days.
But... wouldn't a theoretical attacker care more about how much time it takes to get a successful double-spend instead of how many blocks?

Why would solidcoin block propagate faster if they are built the same as bitcoin blocks? With similar size they will even be a tiny bit slower, as there are more headers per hour... Generating 60 1-minute blocks is still as hard as generating 6 10-minute blocks. To be as secure as 6 Bitcoin confirmations you still need as many confirmations as the *scamcoin generates per hour on average.

With high block frequency you run into more forks, more scalability issues (propagation really is the key here - and already on Bitcoin with just a few thousand nodes it can take a few seconds until a block has propagated) and SC still doesn't solve the issue that transaction relaying is not rewarded/encouraged in any way.

In Soviet Russia, blocks mine you!

Solidcoin won't fail. Coinhunter has done really good job setting this game up . The same people talking crap now will be shooting themselves in the head in 6 months knowing they could have bought at these prices. I think all cryptography will have a place in the future, and anyone thinking there is only room for one is a fucking moron.

Pardon my french...

There is no bounty for this because the people who can set it up get a lot of reward from the visitors, and a ~$1000 bounty isn't really going to entice them. Ruxum will have added USD support soon and 2 more exchanges are looking at adding it. I've also discussed this with MTGOX and they appear interested but are waiting on some checkpoints to be reached first.

Part of what needs to be done to make any cryptocurrency successful globally is finding easier ways to get traditional fiat money into the system. I hope to find a solution to this with SolidCoin.