Thanks.

[What makes a good economy using an inflationary model?]

I have watched, listened and read a lot of fear mongering on the internet about economic collapse, if anything I hope to dispel those myths today by showing some graphs.

What makes a good economy using an inflationary model?
A good economy should have inflation(consumer prices) increase at similar rates to the average wage rate of the economy. This would mean that the rising prices of goods and services will be compensated by the increase in the national average wage rate over time. But you may ask why have inflation in the first place? why money print?, this is done to have velocity of money, meaning it promotes people to spend and not hoard money, giving incentive for people to actually start businesses to catch some of that consumer spending.

A comparison between Australia and USA in terms of inflation and wages

An example of a good economy: Australia.
Wages: Average weekly wages.


Consumer prices/inflation:


As you can see the rate of change over time between both inflation and wages is very similar. This allows for a stable economy as it allows for velocity of money while still maintaining affordable prices for consumers.

An example of a not so good economy: USA
Wages:



Consumer prices/inflation:


The US economy inflation rate has actually been quite low and stable, the problem is that wage rates do not keep up, this is causing more disparity in wealth compared to Australia. What needs to happen in the USA is an increase in the national average wage rate to match inflation. There are ofcourse other variables that need to be considered such as unemployment rates but the general point i am trying to make is that these are the things that need to improved on in the USA. Don't be afraid of studying a bit of basic economics no matter how much some fear mongerer wants you to think otherwise, the more you are educated the better you can spot people trying to push you in directions for their own benefit.

And in case you are wondering, I am a crypto-currency advocate because i prefer not to have all the important economic decisions and control of money printing come from a central authority.

Gridcoin is the only crypto-currency that actually helps humanity, the rest of the cryptos are just clones and copies with slight changes in parameters. I see that in the future the crypto-currencies that triumph are the ones which directly help the world in someway.

Gridcoin is one of them.

Gridcoin promotion video watch it!

Coin is ready and marketing project has been completed, i just need to get someone to make a pool for it, please pm me.

Dogshit coin!!

Coming to an exchange near you.

hi guys,

Can anyone tell me which alt coin holds the crown for the fastest confirmations while still being secure and well supported.

Thanks.

. No need for any more help,

thanks.

No interest closed

The current Prize Pool for the 100BTC raffle is:

The prize pool is
First number drawn will win 50 BTC
5 next numbers drawn will win 5 BTC each
25 next numbers drawn will win 1 BTC each


I think it is better to distribute the prize more, so more people have a better chance to get something back for advertising for the company.

My first preference would be:

First number drawn will win 25 BTC
5 next numbers drawn will win 5 BTC each
50 next numbers drawn will win 1 BTC each

So 25 more people can be part of the winners.

"Pay instantly and get paid instantly. It’s just how payments in the modern world should work."
http://blog.dwolla.com/real-time-payments/


Dwolla recently introduced first truly real-time internet payment system(Dwolla Credit's). Do you think this will have any impact on bitcoin adoption? or is it really insignificant in the grand scheme of things.

Discuss thoughts here.

In regards to mining.

Iv'e heard there is a few minutes delay for when the difficulty of bitcoin changes. During this delay a Quantum Computer could solve all the algorithms before the difficulty increases.

Changes in the the bitcoin SHA-256 security or the speed in which the change in difficulty comes into effect needs to be made before any quantum computer starts mining with capabilities which are orders of magnitude greater than current computing power.

What are your predictions, of the new pricing and specs of the Block Erupter Blade that's being announced shortly?

Not enough interest. Closed.

[I'm going to keep this thread updated to keep track of btcquick's progress.]

I'm going to keep this thread updated to keep track of btcquick's progress.

About the Company: btcquick.com

• btcQuick is a new leader in the market for buying bitcoins with GoogleCheckout (credit & debit cards) & bank accounts (via Zipmark).
• btcQuick has sold more than $100,000 USD worth of bitcoins since launch.
• One (1) "share" of btcQuick on BitFunder represents 1/50,000,000th of monthly profits after all costs of normal business activities.(Payed with dividends)

"As of May 18th btcQuick had 2,877 membership level customers. By May 29th the total increased to 3,349. Our April transactions equaled 309, while the total transactions for the month of May were 429. The second half of the month of May saw an increase in sales that equated to 42%!"

btcquick will soon add a sell function to the website so clients can both buy and sell bitcoin. As of now you can only buy bitcoin.


Profit History
2012 November - $59.72 USD (Est. 4.7776 BTC)
2012 December - $136.36 USD (Est. 10.18371919 BTC)
2013 January - $415.95 USD (Est. 21.11421319 BTC)
2013 February - $1,790.62 USD (Est. 57.72469375 BTC)
2013 March - $ 2,741.64 USD (Est. 21.08461538 BTC) - March P&L
2013 April - $3,545.15
2013 May - $ 2,616.94
2013 June - $ 1,879.31 (1st to 15th) - (16th to 30th TBD)

Chart goes up to May, slightly lower profits on May. You can see the first half of June alone sees profits at $1879, and one could safely speculate that this months profits will be over $3500.



Shares Issued: 50Million
Total worth at current prices: 5000 BTC

If profits continue to rise (assuming the price of bitcoin is stable), it is a worthwhile the investment at current prices. BtcQuick is no bullshit about there profits, they give explicit updates every month on their profit margins and distribute the profits to the shareholders. I don't see many companies on the bitcoin stock market that do this. As most are speculative with nothing to show.

Current Price as of 29th June 2013

0.00009999
0.00011370 +8.8%
0.00011444 +0.7%
Dividends for the month are going to be payed within 6 days.





News 06/07/13

Not going to do this group buy anymore, closed.

From the graph: http://blockchain.info/charts/total-bitcoins

We can see that the line is flatenning out, i see people thinking they will be able to make big profits with ASIC mining but the fact is there is only around 10 million bitcoins left and the flatter line is indicating that mining will become really slow. Also take into account that the rest of the 10 million bitcoins will be mined by 2100+ compared to the 5-6 years that 11 million have been mined in the past. You would rather invest your money in as much bitcoins as you can buy now and wait for the prices to go up in my opinion.

Hi guys I'm going to start a group buy for the ASIC Mining Block erupters. Looking to purchase a 300 quantity batch. Post below if any one is interested and we will start from there.

Prices will be 2.25BTC below 5 orders or 2.15 for 5 or more, the extra costs from the 1.99BTC they are sold for is to to cover postage, time and effort.

Location they will be posted from: Sydney, Australia, International orders welcome. I'll pack and send them to there owners once they arrive.

If you don't know what they are, follow this link: https://bitcointalk.org/index.php?topic=195004.0

I'll add an FAQ here as i get more questions and i may make a website for this group.

Regards,

hamiltino

Can any one show me a tutorial on litecoin mining for Linux. I'm having a lot of troubles. Something that explains things step by step. I got bitcoin mining going easily with Bitminter but litecoin seems another story.

Thanks.

If you were to choose what would it be for a one time $400 investment.