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1  Economy / Economics / Utah monetary declaration friendly to bitcoin, possibly more states will follow on: October 02, 2011, 08:01:58 AM
The state of Utah's monetary declaration signed last week (Sept 26th) is primarily considered relevant to gold/silver.
However, look at the wording for point #1 (bolded below); "all people enjoy the inherent and unalienable right to lawfully acquire, hold and use as a medium of exchange whatever form or forms of money they may prefer.."  Utah may be a good state to incorporate bitcoin businesses.



Utah Monetary Declaration

WHEREAS, money, as a medium of exchange, a store of value, and a unit of measure promotes economic activity, growth and productivity by facilitating specialization and trade, the accumulation of wealth and its long-term investment, as well as accountability in setting prices, tracking progress, and settling accounts;

WHEREAS, natural money – precious metal coin – by virtue of its inherent qualities of recognizability, measurability, uniformity, divisibility, durability, portability and scarcity has reliably retained its purchasing power, notwithstanding periodic fluctuations, over the centuries and millennia of human history, serving as an effective medium of exchange and store of value often without any governmental declaration to require, legitimize or perpetuate its adoption and operation as such;

WHEREAS, sound money, by retaining stable purchasing power over time, best serves societal needs by substantially reducing the uncertainty of inflation risk for creditors and deflation risk for debtors as well as encouraging saving and investment among the general populace and benefiting the economic zone in which it circulates by stimulating the economy and by attracting foreign capital and commerce to the region;

WHEREAS, history attests that monopolistic monetary systems frequently engender currency debasement, resulting in serious consequences such as lost purchasing power, inequitable wealth redistributions, misallocation of productive resources, and chronic unemployment, and that, as the cornerstone of a free market and society, the right to choose, whether between suppliers of goods and services, political parties and candidates, or between alternative media of exchange, effectively promotes the general welfare;

WHEREAS, for the equal protection of all people, rich and poor, the open circulation of complementary and competing currencies should be fostered and promoted by every sovereign state, including those of The United States of America pursuant to their monetary powers (expressly reserved in article 1, § 10 and in the 10th amendment of the United States Constitution) to monetize gold and silver coin as an alternative, voluntary medium of exchange, and as an effective check and balance against debasement of the national currency by the national government which is constitutionally precluded from demonetizing state legal tender, through disparate tax treatment, discriminatory regulation, the threat of suppression and seizure, or otherwise;

NOW THEREFORE, we the undersigned hereby declare and affirm that:

1.     As an essential element of true liberty and of the pursuit of happiness in a free society, all people enjoy the inherent and unalienable right to lawfully acquire, hold and use as a medium of exchange whatever form or forms of money they may prefer, including especially gold and silver coin.

2.     All free and sovereign states bear the moral, political and legal obligation not only to refrain from debasing their own currencies (except under the most exigent circumstances) and from erecting barriers to the unfettered circulation of monies issued under the authority of their sovereign trading partners, but also to affirmatively defend and protect against fraud, counterfeiting, uttering, passing off, embezzlement, theft or neglect by requiring full transparency and accountability of all state chartered financial institutions.

3.     No tax liability nor any regulatory scheme promoting one form of money over another should apply to: (a) the holding of any form of money, in a financial institution or otherwise; (b) the exchange of one form of money for any other; or (c) the actual or imputed increase in the purchasing power of one form of money as compared to another.

4.     Except in the case of governmentally assessed taxes, fees, duties, imposts, excises, dues, fines or penalties, the authority of government should never be used to compel payment of any obligation, contract or private debt in any specific form of money inconsistent with the parties’ written, verbal or implied agreement, or to frustrate the intent of contracting parties or impair contractual obligations by invalidating the application of a discount or surcharge agreed to be dependent upon the particular medium of exchange or method of payment employed.

5.     The extent and composition of a person’s monetary holdings, including those on deposit with any financial institution, should not be subject to disclosure, search or seizure except upon adherence to due process safeguards such as requiring an adequate showing of probable cause to support the issuance by a court of competent jurisdiction of a lawful warrant or writ executed by legally authorized law enforcement officers.

We hereby urge business leaders, educators, members of the media, legislators, government officials as well as judicial and law enforcement officers to use their best combined efforts to reinstate and promote the legal and commercial framework necessary to establishing and maintaining well-functioning, sound monetary systems based on choice in currency.

The signatories hereto concur in the general principles expressed in the foregoing declaration notwithstanding specific reservations some may have as to how such principles should be interpreted and applied in practice.
2  Other / CPU/GPU Bitcoin mining hardware / OC'd video cards at ~70% fans for 9+ months sustainable? on: August 26, 2011, 08:33:04 AM
Question:
I'm planning to run my video card fans at ~70% for the next 9-12 months with as near to 24/7 uptime as possible.
Also, the card temps are usually a little below 70C.  This fan speed seems to have been fine for the last month, but should they likely last another full year?
Or, will the cards (or fans mostly) likely get damaged?

Also, the model of specific cards I have are:
Diamond 6970 - reference 2gb card
Sapphire 5830 xtreme
3  Economy / Speculation / Should we be concerned about the new alternate block chains/cryptocurrencies? on: August 25, 2011, 07:32:28 PM
Question:  Should we be concerned about the new alternate block chains? ixcoin, iocoin, solidcoin, <next coin>, etc.

Soon, there may be a new cryptocurrency that has a better economic model/features than bitcoin.
I'm not sure that any of the current crop are much better than bitcoin, but what are the chances that a new one with great new features comes out?
Something like the Satoshi code but with actual admirable improvements.  Should I lighten up on my bitcoin holdings?


4  Bitcoin / Mining / newegg, xfx 5830 in stock, $149 [sold out] on: August 25, 2011, 05:26:05 AM
Ok, this is in stock, expensive, but will still sell out. [sold out now]


http://www.newegg.com/Product/Product.aspx?Item=N82E16814150502
5  Other / Beginners & Help / interesting other open source projects, how best to find them? on: August 24, 2011, 09:34:04 AM
Are there any blogs, sites, forums etc. people here particularly like for finding other interesting software projects?
6  Bitcoin / Bitcoin Discussion / What to use for secure bitcoin client machine/wallet (non-miner)?? on: August 06, 2011, 11:24:40 PM
What would people recommend for a moderate cost bitcoin client machine now?
This would only be used for a secure bitcoin wallet/client.  No mining, not a general PC, not even web surfing, probably mostly kept turned off.

I was thinking a cheaper laptop that didn't have wireless (if that's possible to find) that runs ubuntu?
Or, maybe a mac laptop?
Or, maybe an old PC/laptop that I reinstall with ubuntu, or is there a better OS to use?
Or, some kind of linux off USB with a persistence file?
Or, some more specialized hardware device that I don't know about?

Does anyone have something setup that they really like for this purpose?
7  Bitcoin / Bitcoin Technical Support / What to use for secure bitcoin client machine/wallet (non-miner)?? on: August 06, 2011, 11:23:23 PM
What would people recommend for a moderate cost bitcoin client machine now? 
This would only be used for a secure bitcoin wallet/client.  No mining, not a general PC, not even web surfing, probably mostly kept turned off.

I was thinking a cheaper laptop that didn't have wireless (if that's possible to find) that runs ubuntu?
Or, maybe a mac laptop?
Or, maybe an old PC/laptop that I reinstall with ubuntu, or is there a better OS to use?
Or, some kind of linux off USB with a persistence file?
Or, some more specialized hardware device that I don't know about?

Does anyone have something setup that they really like for this purpose?
8  Other / CPU/GPU Bitcoin mining hardware / 6970s and 5830 together problem, ubuntu 11.04 on: August 04, 2011, 09:07:41 AM
Using Ubuntu 11.04 from a hard drive.
I have a MSI 890FXA-GD70 motherboard with 3 6970s running fine.
Then, I plug in a 4th card (a 5830 xtreme) and system hangs on boot.
They are all plugged into 16x pcie slots via extenders.

Is there some trick to getting these different series cards working nice together?
9  Other / CPU/GPU Bitcoin mining hardware / Is Antec 380 PSU enough for a Radeon 6950? on: June 22, 2011, 05:04:30 AM
The old box has little else in it than a 500G HD and CPU.  Talking just one 6950 here.  Thanks.
10  Other / Beginners & Help / Question regarding Bitcoin client: "receiving" addresses in Address Book on: June 21, 2011, 07:47:52 PM
I created 3 Receiving addresses (that I labeled) in my Address Book, but it appears 4 more were created somehow (they don't have a label).    What is the reason for the client creating these extra addresses?
11  Other / Beginners & Help / bitcoin mining and AMD stock price on: June 21, 2011, 03:45:55 AM
It doesn't look like AMD's stock price has significantly appreciated due to mining, yet anyway.
Maybe this is coming.  They've got to notice people buying boat loads of Radeon cards, or is it still early?

AMD stock 2 years: http://finance.yahoo.com/echarts?s=AMD+Interactive#chart1:symbol=amd;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

NVIDIA stock 2 years: http://finance.yahoo.com/echarts?s=NVDA+Interactive#chart1:symbol=nvda;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
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