Hmmm... Let's say you have the following funds. Each issues 100 shares, each representing 1%, and none of them have anything other than what is listed.
Fund A: 50 shares of fund B
Fund B: 50 shares of fund C
Fund C: 50 shares of fund A *and* one bitcoin.

How much would you pay per share of each company? Obviously all 300 shares in total must be worth one bitcoin...

In order for the difficulty to be changed every 2016 blocks, the clients need to know how long it has been since the last retarget. Clocks aren't perfect, though, and there could be malicious clients. How do nodes agree?

Bitcoin is pseudonymous. Used correctly, it can be totally anonymous. It must, however, be treated like cash. Cash given to strangers is cash lost. This has been established, yet scams and hacks still occur to the tune of hundreds of thousands of dollars.

What troubles me more, is the non-anonymous scammers. Matthew Neal Wright isn't anonymous, is he? In an unregulated market like ours, or in some future AnCap society, what are the repercussions of scams like the one he has just pulled off? There were doubtless many people who used him to hedge their pirate risk, or who bought PPT's at a discount in hopes of turning a profit. For these people, MNW's scam has created a real, tangible loss of thousands of BTC. Now what? He walks away, laughing the whole time? He might not have stolen anything; the situation is closer to him having broken people's windows -- nobody wins but the window mender. When someone you know breaks your window, do they walk away laughing, never to reimburse you?

This troubles me greatly.

Background: I see AnCap as a possibility, but I'm not educated enough on the subject to resolve a few problems I perceive in it.

1. How are reparations collected? If you pop my tire, but don't want to pay for a new one, how do I get the money from you?

2. Common Defense and Leeches: It's all fine to think "everyone will chip in because it's in their best interest to have military protection," but there's a Tragedy of the Commons problem there: "I'll avoid chipping in to maximize my own personal wealth and hope that everyone else chips in."

Bidding starts at 0.3 BTC. Bids must be evenly divisible by 0.1 BTC.
Any BBCode up to the signature limit is allowed.

I have 1000 posts on which your advertisement will be displayed. I make somewhere around 9 posts daily.

For 2 BTC extra, you can also advertise in my avatar, tagline, and website fields.

I reserve the right to reject ads which link to nsfw images or scams.

[Fact.]

I feel bad about polluting evoorhees' thread about S.DICE. So I'm going to spew my Facts, Uncertainties, and Debates here.

Fact. MPEX costs 20 BTC (sometimes 15) 30 BTC just to sign up.
Fact. The domain is registered fraudulently.
Fact. Porn is was hosted on that same domain, polimedia.us, while MPEX was hosted on it.
Fact. The owner of MPEX has attempted to sell NSFW photos (of herself?) at https://bitcointalk.org/index.php?topic=74399.0
Fact. The owner of MPEX steals content from other websites, including images.

Opinion MPEX looks like shit. Seriously. "border=1"? No CSS3? We have a high school teenager on these forums whose website looks many times better. And is porn-free.

Debate MPEX is managed by an untrustworthy romanian pornstar whose hobby is to post libel about GLBSE through the MPOE-PR forum account. The free market has ensured that its high entrance fee means very little volume. And it's an eye-sore.

I shall be staying away, thank you very much.

That's all for now, folks.

[I thank the anonymous donator ]

1. As a human, my purpose in life is the pursuit of happiness. I attempt to make the decisions which will result in the most happiness for myself.
2. Empathy means that when others are happy, I am happy. This drives donations to charities, consoling people, and not knifing people for their pocket change which I can spend on donuts.
3. The goal of any society, whether communist, capitalist, anarchist, statist, or surrealist, should be to promote the best total happiness.
4. If it is possible to torture one man or woman in such a way that everyone else in the society is very happy, this should be done. However, it is not possible due to empathy. The members of the society would empathize with, or "feel bad for" the person being tortured; "feeling bad for" is not happiness.
5. If it is possible to torture me in such a way that everyone else in the society is very happy, then I volunteer. Ironically, however, I would be happy with myself for doing such a noble deed and making so many other people happy. Thus, I would feel physical pain, but I might still be happy. The torture would "fail" due to empathy.
6. So there. The meaning of life, and the reason that there is no "one true method" of society, be it AnCap or StatSoc -- the one which makes people the most happy should be used. Here in 'murica, maybe AnCap would make people happiest; maybe not.
7. Please pass another joint

[Pricing:]

GPG and #bitcoin-otc tutoring

PGP and GPG can be very confusing for those just starting out. I provide tutoring services using Skype screenshare (optional). We can cover everything even remotely related:

• Downloading and installing GPG
• Creating a keypair
• importing and exporting public keys
• signing and encrypting files
• verifying signatures
• getting started with #bitcoin-otc
• moving your keyring around
• gpg related command-line tricks
• how pgp works, from a basic overview to why primes are so cool

To finish it off, we'll rate each other on #bitcoin-otc, to allow you to "bootstrap" your ratings. (Few people trade with new users, and you can't rate someone without having been rated yourself.)

I have done this several times now (some sessions were private) on multiple operating systems including various Linux flavors, Mac, and Windows XP, Vista, 7, and 8. In one hour you can go from not knowing what GPG stands for to being ready to trade on #bitcoin-otc and able to sign, encrypt, decrypt, verify signatures, and use keyservers from multiple computers.

Pricing:
0.1 BTC / hour
One hour is sufficient for general use, but two hours will allow us to go very in-depth. New: They can also include a Bitmessage overview.
MPOE-PR is sponsoring one free hour per person.  Anonymous (unpublished) sessions are possible but are not free, and they do not end in a #bitcoin-otc rating.

Due to an influx of demand, I'm changing the scheduling process. If you wish to have a session at one of the times below, post it in this thread, and PM me your Skype name.

All times are EST. First come first served.

Date	Can start at	Must end by	User
Friday 7 June	7:30 PM	8:30 PM	soniq
Friday 7 June	8:45 PM	11:00 PM	bitzox
Saturday 8 June	9:00 AM	10:30 AM	Mogumodz
Sunday 9 June	10:00 AM	11:00 AM	The 4ner
Sunday 9 June	3:00 PM	10:00PM

I thought that this claim was extraordinary enough to warrant a new topic. The math is all here:
https://bitcointalk.org/index.php?topic=96092.msg1069034#msg1069034

I did not know this.

Basically the title says it all. I'm looking for someone gullible enough to buy my bridge. Two bridges. One is made by Amish people and the other is the Brooklyn bridge.

Just contact me when you find someone, thanks.

[General]

Local thread rules:

• This thread is for discussing math, not accusing pirateat40 of running a ponzi scheme or discussing how likely he is to default.
• There is only 1 rule.

For an easier to understand example of the following model, see this post on how to get 7.5% weekly with the same risk as a direct pirate deposit.

General

1. An "insured" pirate bond claims to be willing to return part or all of the investor's capital if pirateat40 / Bitcoin Savings and Trust defaults

2. Therefore, if an investor believes the insurer to be honest, the investor's exposure to BS&T is limited to the difference: (Invested_Capital - Guaranteed_Capital)

3. An investor in an insured pirate bond will receive less than 7% weekly (the amount one may receive investing directly with Pirate)

4. Therefore, the return on risk can be expressed as (Weekly_Payment / Exposed_Capital)

5. The insured capital in an insured pirate bond cannot be invested elsewhere by the investor.

6. If the investor did not intend to invest that capital elsewhere, the lost time value of the capital is 0%.

7. However, it is reasonable that the investor might expect 1%/week and a lower risk.

YARR
1. The last traded price of YARR was 1.89 BTC.

2. If BS&T defaults, the investor will receive 1 BTC. This is the Guaranteed Capital.

3. Exposed Capital is .89 BTC

4. Weekly Payment is 0.06 BTC

5. Return on exposed capital is 6.74157% weekly.

6. Therefore, it is better to invest 8.9 BTC in a passthrough such as BitcoinMax and keep 10 BTC in cold storage than to buy 10 shares of YARR. (Provided, of course, you trust PayB.tc as much as usagi.)

7. There are additional risks and detractors associated with YARR, including:
    a. Contract C-4: CPA forces a 1.3 BTC buyback. This can happen at any time without breach of contract, resulting in more than 30% loss in Total Invested Capital.
    b. Contract C-5: A pirate-backed issue changes their terms independently of pirate. YARR then changes their dividend payouts, resulting in a loss of market value.
    c. CPA defaults independently of pirate, resulting in a total loss of capital.
    d. The investor loses the opportunity to invest the Guaranteed Capital elsewhere while invested in YARR. In order to spend it on a WikiSpeed car or invest it in the Dank Bank, one must withdraw it and the Exposed Capital from YARR.
    e. Fees might be paid when investing in or withdrawing from YARR.

Conclusion: I will be investing in YARR at less than 1.7 BTC.

PPT.X
1. These bonds do not pay dividends, but are bought back for 1.28 BTC every 4 weeks.

2. For simplicity, we will assume that the investor bought the bond at the IPO.

3. The Guaranteed Capital is 0.32 BTC

4. Let the IPO price be j. j is always greater than 1 BTC.

5. The Exposed Capital is j - 0.32

6. The Weekly Payment is (1.28 - j) / 4

7. Therefore, the return on exposed capital = ((1.28 - j) / 4)  /  (j - 0.32)

8. Fancily (word?) enough, when we solve


we get j = 1.07.

9. How about equating this to YARR?


1.07610627

Conclusion 1: I will not be investing in PPT.X if it costs me much more than 1.07 BTC
Conclusion 2: If you can buy a share of PPT.X for less than 1.07 BTC, and you don't mind letting that 0.32 sit there not gaining interest, then you're getting a better return than investing directly with pirate at his highest rates
and the same risk.
Conclusion 3: Buying PPT.X at IPO for less than 1.07611 BTC is better than buying a share of YARR at 1.89 BTC

Gamma Insured Pirate Pass-Through
This one works like YARR.
Time value of 0%, return on risk 7%: bond price 1.357 BTC
Time value of 1%, return on risk 6.9%: bond price 1.217 BTC

There is no market price for this yet.

Hashking's 50% insured Pirate deposits at 3.3% weekly

A) Non-compounding

This is the only deposit backed by an insurance where you will be able to see the insurance funds sitting in an address in case of default.  As deposits exceed the current insurance allocated I will add more to the insurance address.  I will currently start the fund with 4,000 BTC which will allow for 8,000 BTC worth of Deposits.

Because the funds are sitting there, I will say that the 50% insured part has no time-value. Therefore, we can simply double the 3.3 and get 6.6% weekly.
Conclusion: it's better to invest half of your money in Hashking's 6.75% deposit and put half in cold storage than to put all of it in the 50% insured pirate deposit.
Example:
put 50 BTC in uninsured; you'll get 3.375 BTC weekly and lose 50 BTC if pirate defaults.
put 100 BTC in partially-insured; you'll get 3.3 BTC weekly and lose 50 BTC if pirate defaults.

B) Compounding
Due to perfect compounding, how much a lender invests in this program depends on their time frame and how likely they think pirate is to default. See graphs and details later in this thread.

Goat's proposed bond
Bond face value 1
Bond sold at 1.5-1.6
Bond pays 0.055% weekly
By now, this is getting pretty easy, so here's the numbers sans-fluff:
Time value 0%, return on risk 7% (upper bond price): 1.785714 BTC
Time value 1%, return on risk 6.9% (lower price): 1.652174 BTC

Conclusion: this is also a good deal. Goat has some reputation from issuing other bonds/stocks, such as Tygrr-Bond-B, Tygrr-Bond-P, and Tygrr-Tech.

Put the text of the post above you (and a link to it) on a new domain name. (Obviously, you should provide a link in your post.) Bonus points are awarded for:
-Creativity (in presentation and method)
-Putting it on the homepage
-New TLD's
Super bonus points are awarded for these domain names (in ascending order):
.edu
.gov
.xxx

[someone]

I'm developing several bots for Bitcoin-related profit-making. My best ideas work on fee-free GLBSE (since fees are maker/taker), but they'll only work if nobody else does them. After I put lots of work into programming, though, I always want to share it with someone, if not everyone. So what do I do with my great ideas which will only make money if only I use them?

I've decided that I want to come to an opinion about guns. Recently it was said in the PorcFest thread that many people were openly carrying guns. Should that make me nervous or not? I see both sides of the argument. On one hand, I wouldn't want to be walking down a shady alley in NYC and see lots of people with guns. On the other hand, a peaceful grandma carrying a gun for self-defense doesn't bother me. I'm obviously biased. Similarly, I like freedom (and live in the US) and would like the freedom to be able to defend myself using a gun. However, I don't think I'd like being shot, pepper-spray and other non-firearm self-defense methods work pretty well, etc.

I like to learn from history, so I'm leaning towards the "freedom"/NRA side of things (based on the second amendment), but the thought of some drunk angry person buying a gun and turning around to shoot up the town makes me want regulations... but what if I want to revolt against the government? Will the regulations prevent that?

This seems to be a worse situation than a "fine line;" the sides of the argument overlap, so there's no perfect place to be at.

Help!

Hi, I'm testing my recent "light" (no GUI) install of Gpg4Win. Can someone send me a message? Thanks.

-----BEGIN PGP PUBLIC KEY BLOCK-----
Version: GnuPG v2.0.17 (MingW32)

mQENBE/lGrIBCACrfQ1z980Q6hNaP48/SvD7iGaoZ9sYsvcN3Jy7IgoTQugwkHQQ
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P+JOakNezp9fI4NPG7q9iHZW9mF7frE3C3dQ8oPBW3d9yLfXjxQTPNkaUyadsdfG
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aGs0Lm1lPokBOAQTAQIAIgUCT+UasgIbAwYLCQgHAwIGFQgCCQoLBBYCAwECHgEC
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gdcjsKTICVRtdZIVw7c55khk9DLBI+lp3qBlU5QjVzShMZtItNQzrEUfi2kiW4+M
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i4d/i8oniH/FFmbEsJQKaJUEEin0R5Xd2NS9vsx+HVuxtLkBDQRP5RqyAQgAuJJi
PmY+v8jS4ms680MAalx98VqwsrAKr05kSUwQk+E9W0R+pVJMsXVvFafldL7ofpdA
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dyBc0SgE/pYIGXctkUv7ZsuTeF79KrDdUgP5pPHxjT8VHwLPBZC53+EgJayVOOum
DW62J7t7PlUNCeOPTtPsfTamRXLm3uvm8j6eGtKHqi+LGh+nH9uSAw2dS8pHIihn
y8qkH2ZGH3iQOC5BsVZtQgFytFCFVorahEJ/hhKmG8VAqaVWzARooUiHhY+jlLmd
JqlI1zGS6L4Z0JQFJQARAQABiQEeBBgBAgAJBQJP5RqyAhsMAAoJEPsNjRU0JBQj
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KVsJ2XcLWpouEd7NC0nIgDx50GtqnZIVW5UH8EWcNGHpLAhwS09s+ju2E6YTOfeR
a0JtxBiFohyAGsAHFmO5Oc+/bTKce5TDtEePd1zWCMDxnphWc/80usXwDkgvZM2L
Ej678DUrMvUV5H2J1RUHAUqlniC4c8oZZjN/g+wSS6JXDw/ejEbkVUKW9cL9fDTK
UAHcBiSI7k9FHazbDqCrZO09RV3l/f4JsimVpWZ68gCPvX/uuu9r0WNc6nonu3m3
TF1qqtef7Suf3QCfE3StP76Rdw==
=gKK9
-----END PGP PUBLIC KEY BLOCK-----

Edit: to clarify, just encrypt a message with my public key and post it here.

Has anyone heard of mybitcoinbank.de? It seems to offer good rates and it claims to allow inter-person lending. But the real question is, "is it a scam?"

Edit: topic locked because the site is gone. Make a new thread or request that I unlock it via PM.

I recently saw a .5 BTC fee on a tx covering hundreds of BTC. That got me thinking... what is the largest fee ever paid?

So I found this on the XKCD forums, and I just had to share it with you guys
It's a classic puzzle with a nice, formal proof of solution.
Near the end, there's a solution for sending arbitrary messages to all prisoners, using only 1 light-bulb; it's P2P-ish.
http://www.segerman.org/prisoners.pdf

I see many great-sounding thread titles in the marketplace every time I log on, only to find that they were started by someone who now sports a scammer tag. It'd be great to automatically ignore these, or mark them as scammer-started.
E.g. the mattress one, BitArb, etc