jtimon, I added a note on the bottom of my previous post.

Yes, I think Ripple is precisely the model. However, Ripple seems (though I haven't looked at the system in detail) to be a bit like the problem global finance faces today with credit default swaps. Credit gets passed around until default 'ripples' around the network unpredictably. I'm proposing a much more flat system with immediate (hourly) rebalancing. How does ripple mitigate counter-counter-counter-party risk?

But it's true, if a <--(trusts)--> b <--(trusts)--> c <--(trusts)--> a, then rebalancing could be a bit more elegant. It could be that rebalancing ("margin calls") must occur for the previous x blocks after y confirmations. For example 140000-140100 must be balanced after the 140200'th block.

I'm just concerned about a <--(trusts)--> b <--(trusts)--> c |--(does not trust)--| a

Jav, have you considered contacting MtGox, TradeHill, Bit-Pay and other well known exchange/merchant/wallets regarding faster transactions, perhaps with a signed balance sheet outside of the p2p network, but rebalanced in the normal bitcoin network? I could imagine certain legal contracts, auditing, and norms (balance never to exceed w BTC, balancing the accounts every x hours, no transactions greater y BTC, no more than z transactions per hour). For example, Instawallet and Tradehill could simply sign transaction+balance.


Users could transfer a reasonable buffer of coins to a unique InstaWallet (or child allowance in a few years) then spend and confirm transactions instantly (I expect most merchants will use a proxy/ewallet in the near future). Rather than wait for confirmation at checkout, users receive confirmation while eating breakfast, shopping, or waiting in queue, then the merchant relies on trusted third parties rather than the block chain. It's similar to green addresses (recipients still need to trust the green address). The merchant only needs to trust their receiving party (InstaWallet, for example) who accepts the counter party risk of their partners (TradeHill, for example).

-----BEGIN PGP MESSAGE-----

jA0EAwMCbxKVvPR9SCVgyUSAcVn+uUsS0/eQ60i3kAuqgpIzhZjRid5TuPaIRC15
+1fdTHVQIjEzhNQPtqnvV7KJ4jTEx2roesVQixZH4OorItOG0Q==
=0d/W
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The message I think that needs to first get out is: The system is fucked. There is no return to the "New Economy" before massive contraction. People need to first realize their savings are evaporating, government obligations are not realistic, and they need to prepare. They can erect the guillotine later. Austerity softens the symptoms of contagion, austerity is not the disease. That which politicians won't, can't and fear, is what is most necessary to explain.

Thousands of kilometers from New York, I had a similar sentiment (silly protesters don't know what they are protesting). But yet they are ripe for education. Either Michael Moore and government are going to tell them status quo is change and more spending is reform or their fellow educated Americans can tell them what's up. There is some truth to the Tea Party movement and their is some truth on Wall Street. There is also a lot of bullshit. But as long as these two groups are separated, they are manageable, and the system will turn beyond repair.

LoupGaroux you are right to be cynical, right to be critical, but wrong to be apathetic.

IFF the United States is a democracy, then the people need to regain power, they need to work together and educate each other, not fight in this parody of politics. They are thirsty for something that makes sense even if they are incapable of manifesting that sense themselves. The messages they hear loudest are from the very system they should be fighting. The people need to stop turning to their government for answers. Because that is a willing population under dictatorship. But we are no better to laugh at their efforts, seeing their folly but offering no help.

Thomas Paine:

These are the times that try men's souls: The summer soldier and the sunshine patriot will, in this crisis, shrink from the service of their country; but he that stands it now, deserves the love and thanks of man and woman. Tyranny, like hell, is not easily conquered; yet we have this consolation with us, that the harder the conflict, the more glorious the triumph. What we obtain too cheap, we esteem too lightly: it is dearness only that gives every thing its value. Heaven knows how to put a proper price upon its goods; and it would be strange indeed if so celestial an article as freedom should not be highly rated.

I believe you are correct regarding politicians' weaknesses. However, what does make this time different (than say Weimar, Zimbabwe, Argentina, and thousands of others through history) is that USD supply is not actually paper. Debt can evaporate, but paper can not. Despite tripling M0 over the past three years, paper is still scarce while M3 contracts rapidly. But you could be right. If the flow of money stops, banks stop lending, unemployment doubles, M0=M3, yes, I am afraid the printing press will crank out paper.

Looks good. Though I might think it's

1 troy ounce   -->   31.1034768 grams

rather than

1 ounce   -->   31.1034768 grams (TROY)

Thanks Bigpiggy01 for t.h..a....

Holy shit

This is how I imagine it, always showing the previous block before orphans.
However, in the case of multi-block orphans (potential attack) it might be easier to visualize if you also added the next node:
By the way, do you know the longest orphan chain we've experienced? Is there any record or does that just get lost after reorg?

Having lived in both China and the United States I can not quite agree with you. In the United States the people are incredibly polarized politically and so while the information gets out, the 'juice' is often lost in abundance. Most disturbingly, large factions of people (be they Republican/Democrat or more subtle distinctions) are not reading the same news. Everyone is reading their own consistent fraction of the big picture.

In China on the other hand, the people generally have the same world view. They share the same larger fraction. Very few people are aware that there is even a fraction to which they are unexposed. Even those who are aware generally believe that censorship is protecting them.

People are ignorant everywhere, but in the United States it is much easier to turn off the TV and perform proper research. The material is simply unavailable in China. Obtaining dissenting information is technologically difficult provided you even know where to begin, what topics are even worthy of research.

It is sad that Americans fall into containable fractions and know very little about the world. But we can place most of the blame on the Americans themselves. It is equally sad that Chinese know much about the world but have a narrow world view. But we can place the blame on the State.

If the protesters all had jobs, were innovative entrepreneurs protesting loose monetary policy, bailouts, quantitative easing, and excessive spending, would you be more sympathetic?

Does it matter that the majority of the protesters, just like the cross section of America do not quite understand what is going on, but know that their jobs are less stable, prices are going up, and feel a general frustration with politics and banking, even if not everyone can articulate it? Can you not also sympathize with people whose media is misinformative at best and whose politicians either lied to them or don't really understand finance themselves?

Very cool. Though is wasn't immediately obvious what you are trying to show. It wasn't until I consulted the previous block and selected "next block(s)" (and there are two of them, EXCELLENT). Perhaps if you showed the previous block (and perhaps the next successful block) your orphaned block page would be immediately obvious.



I don't think you need all the visual hell that I've introduced, but a link to Previous and Next would be helpful. On the other hand, if we did experience a multi-block orphan (attack), then I think you'd need the extra graph nodes to make sense of the attack. Also, an issue I have with your current implementation is that the previous orphaned block with arrow up seems to suggest that it links directly into the next orphaned block which is (in most cases) not true (I suppose that's what you mean to demonstrate with a dotted arrow, which would be more apparent in a context with solid/direct and dotted/indirect linked nodes).

Yes, it still claims that an ounce is 28.35 grams, which if used would make the price of gold $1499.56 / kitchen ounce. But no one measures gold in kitchen ounces. DROP the avoirdupois. State TROY ounces = 31.1034768 grams.

"The troy ounce is part of the troy weights system derived from the Roman monetary system...To maintain purity standards and common measures across time, the troy ounce was retained over the avoirdupois ounce in the weighing and pricing of gold, platinum, silver and gunpowder." http://en.wikipedia.org/wiki/Troy_ounce

Could you elaborate on what you are doing, if you don't mind?

围棋 go weiqi baduk

Let Moore and Ron and Bernanke and Santa Claus all come down! That's precisely what the United States dearly lacks. COMMUNICATION. Middle ground. Understanding.

Deflationary because everyone is afraid to spend and afraid of bubbles. But I would not say that everyone is anti-Fed. Again, I submit http://www.c-span.org/Events/Fed-Chairman-Updates-Congress-on-Economic-Outlook/10737424526-1/ it's worth a listen. The only guy who was unappoligeticaly critical of Bernanke without acknowledging the short comings of Congress was Vermont geezer Bernie Sanders. If anyone is anti-Fed, it's for the wrong reasons. Traders complain that Ben is not injecting q easing. Most everyone else is in incoherent la la land.

This man is trying to educate. Don't be against the protesters. They may not know why they are frustrated. But they are on the streets. Help them!
http://www.youtube.com/watch?v=uZmPWcLQ1Mk

Thank you for posting this. I suppose I fell into the trap of thinking the protesters had no meaningful voice.

Do you see bitcoin as being useful in China or just for geeks as anywhere else?

På toppen af ​​verden, tak.

你玩围棋吗 ? (looks like you could throw a stone to Korea)