It will never be as scarce as Bitcoin. Think logically: You have two currencies which are identical with exception that one has more value which is expected to rise faster. What will people choose ?


You mean like allowing each node to print as much money as it wants ?
Wouldn't this be a Zimbabwe-style disaster ?

--
No, seriously. Why the hell would i want my savings to lose value ?.
Saving with hard currency is so easy. No need to buy physical things. You just keep money and they make profit. Isn't this beautiful ?

The fundamentary flaw of this timecoin idea is that it is no different from "normal" currencies.
What makes bitcoin so special is that it is a "gold standard" currency - it is also a commodity, contrary to Timecoin, which will get inflated forever.

Bitcoin is "physical" in a way, because it behaves similarly to physical bullion - after you mine all of it from the ground, it's gone. Timecoin is not like this.
Essentially, it's scarcity that creates value. Abundance destroys value.

----
EDIT:

So what You're actually proposing here, is to create a clone of Bitcoin, which has all the properties of Bitcoin, except it has less value than Bitcoin by design. People will never go for this.

Mwhahahahahahaha.
You just made my day.

Can you post some more details ?

EDIT:
Never mind, found it out myself:

This is really a brilliant invention in so many ways.
Unfortunately, most people will only after realize it after the revolution is over - and then Satoshi will be publicly recognized as a genius.

We're really lucky to jump on this bandwagon while it's still in its infancy. Perhaps some day we will be telling your children - "I was **there** during the dawn of economic revolution ! Nobody knew then what is to come. But i was there, between the brave bunch of people who created the world of the future".

As was already said, current ATI cards will be totally superior over any console.
It's almost 3 Tflops after all... No console today can offer this computational power. And the price/power ratio is extremely good (for ATI) as well.

Which one ?

Well, You have been warned. You can't sue me for any permanent brain damage anymore.
I myself suspect this may contain some subliminal messages - I see no other explanation of this hypnotic power.

This is completely doable using existing technologies in a reasonable time - you could create a custom Linux distro with specialized scripts & QoS software preinstalled. All the needed software already exists. Shoudln't be very difficult for an average Linux-geek.

Once bitcoin becomes mainstream, i guess we're going to see many of these.

Actually, that is no longer true. Large corporations have become so powerful, they can kill you if they don't like you, and they get away with it:
http://killercoke.org/

For now this usually happens in small third world countries, where law is weak and governments are corrupt. But it won't be like this forever. Also, you should probably watch/play some Resident Evil.

Well, you've got a point here.

I guess that
1) There is still possibility of running Bitcoin as a different user, or
2) Perhaps everybody should keep their bitcoins on an small, specialized system which is not directly connected to internet (can only be accessed over SSH from your home). That would be a kind of "personal digital safe".

I think that once Bitcoin becomes really popular, somebody may start producing/selling such "digital personal safes" from 2) and advertise them around bitcoiners.

BTW:

Did Satoshi contribute anything to bitcoin code lately ? You know, there are already rumors on the forum that he is dead or whatever

Incorrect.

Noscript protects against almost ALL possible vulnerabilities, because it disables simply everything that can cause security problems (Javascript, JAVA, Iframes, HTML5 storage and such).
I dare you to show me a 0-day vulnerabitilty that will still work after i install Noscript.

Also, i wouldn't call firefox a buggy/insecure browser. It is quite secure, because vulnerabilities are very quickly (48 hours AFAIK) fixed. This is the power of open source.

I think that we're not too late.
All the technologies needed are already there (P2P, Bitcoin, TOR, I2P, Proxy, OpenVPN etc).

It is already possible.  The internet could already become one giant gray box, to which you send data and from which you receive data, not knownig where that data come from, and where are the data coming to. But that of course depends on the people and their will to do it.

The question is - will the people follow this path ? I certainly hope so, because IMHO the only other way out of the current situation is either a Global Totalitarian Government or war. I sure would pick anonymity & freedom.

1. Use Noscript, Adblock, Flashblock
2. Run bitcoin with a different user (making this default option in bitcoin client shouldn't be very difficult, at least in Linux/UNIX), perhaps in chroot.

Problem solved.

Coming next:
- Is Satoshi a zombie ?
- Is Satoshi on crack ?
- Is Satoshi a super-intelligent animal ?
- Is Satoshi a superhero ?
- Is Satoshi lesbian ?
- Is Satoshi an A.I. ?

This is all cool & dandy, but that link no longer works for me.

This is one of the stupidest thread of the century.

That was speculation. We're back to ~0,33.

Personally i simply double-backup my whole partition every day (weird RAID configuration).

Also, i backup my wallet on a pendrive every longer period of time.