The block chain with its transaction history is unique to each cryptocurrency. You could say it is the block chain dna.
See the post above ... if you have cryptocurrency used by 100,000 people and another one is gaining popularity fast with 5,000 members, the 100,000 can easily knock it down if they see it as a threat and can coordinate. All it takes is a simple modification of the client they're using (so it computes hashes for the other blockchain) and enough people adopting it ... which is much easier to do if those people believe the new currency is a threat to their dominance (and therefore their money). The thing is that doing that cost them money (electricity and the lost of oportunity to use the computer in something else). So going from network to network breaking them down is a game that they can not sustain for a long time as it would bankrupt them. I am sure they could not do that very long without a major part of the participants breaking the consensus and thus breaking the group. You are used to see this kind of abusive behaviour in present days, but it is because most corporations are protected by government regulations. Therefore they dont have to suffer strong competition. Bitcoin is a true free-market currency, a voluntary currency and is not subject to regulations, so corporations or any strong player will have a really hard time taking over and loosing a lot of money. And if it has to do it several times it will just give up. The crony capitalists realized long time ago that they need regulations, government help, to avoid competition in the market. |
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I have noticed the same.
If you only use 2 cores (out of the virtual 4) it does not matter much, but if you configure it to use 3 or 4 the gain is ridiculous, while before it was noticeable.
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From a strategy point of view, I think its important to promote Bitcoin for business, because its going to be the harder part. The speculation part will come alone, so I dont think there is going to be a lot of problem with that. But getting business to accept bitcoins I think should be one of the main focus of this community.
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I dont think you got the issue. BrightAnarchist was worried about only speculation driving bitcoin. I am worried about that too. I dont think speculation should be stopped or anything, it serves its function, but bitcoin is not a casino, its a currency. We need business to start accepting bitcoin. If the only thing going on is speculation then it will die. The problem is not speculation, the problem is that we dont want bitcoin only driven by speculation, because its a no future road.
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I have not read the whole thread but, it s ok to completely divorce economy from human values and physical production. This is the EXACT same nonsense we were bombarded with when deregulation of US economy was pushed bringing rise to such "useful financial instruments" like derivatives, "encouraging 'investment'", "stimulating economy" ... we've heard it all ... What deregulation? Seriously what deregulation?!? Please, stop parroting and repeating the official propaganda and go check the data. The number and size of regulation has increased, and a lot each decade, specially since the 50's. PLEASE CHECK THE DATA and see it by yourself. Now, one can argue that the changes in regulation has been for better or for worse, but no one that is honest and checks the data (as opposed to believing the official propaganda) can say that there has been any deregulation. Its the contrary, there has been an increase in the size of the regulatory regime. the bitcoin community is infested with mindless cheerleaders for profit thinking Seriously? Do you really think this is the way to create a community? Infected?... As I said I have not read the whole thread but I hope you have apologized or you plan to. |
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You are not the only one worried. But there is little that can be done, apart from tyring to spread the word and encouraging business to accept bitcoin.
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No bank is going to go down.
We had a few going down past 10 year (last one was of average size here in the Netherlands, see https://secure.wikimedia.org/wikipedia/en/wiki/DSB_Bank). Nice for those savers to know that they didn't loose their money due to something they didn't have control over. First they were not savers, as in having money stored in a vault. They were investors in the bank fractional reserve lending program, although you could argue its still a type of savings. But nevertheless they were taking a risk. But the main point is that it was the duty of this people to give their money to a institution they trust and control. Because of the government guarnatees people trust their banks as if nothing bad could happen, and its a big mistake. Banks are companies and CAN fail, nowadays specially the small ones, since the big ones are TBTF. Bottomline dont trust the banks (specially the ones operating under the government granted credit monopoly, which probably means all the banks that exists in your country). |
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Hahaha, 100,000 is but a finite number. We in great USA now have infinite FDIC insurance, literally. No matter how much you can lose, more can be printed.
The finite number is good for 2 things: 1) Our government says, don't bet it on saving accounts with high interest rates. People have to have some sort of responsibility. We had some big problems with people putting a lot of money on Iceave accounts (we all know how that ended). Plus the 100,000 euro insurance is per account (and the hope is then that people split the money and put on different banks). Plus it looks nice towards the tax payers (knowing that there is a limit of tax going into that). The real problem is that this guarantees are basically psicological and now thee real deal is that the taxpayers are on the hook for the banks. No bank is going to go down. |
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Do you mind sharing the name of the charting library?
Oh I thought it was saying that somewhere in the chart. It's ChartDirector from http://advsofteng.com/Ok, so is a server side charting software. I have been looking exactly for this but made in client side, only asking the data to the server. I know there are JQuery libraries that make candlestick and the rest, but never found the whole thing. |
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"Weird idea to generate coins, I try to understand their idea.
Somebody has to use our pc to generate coins. Who is that " somebody ".
And what about the privacy, can we trust that " somebody"?" Somebody is everybody. Or at least anyone that wants to. You can download the client and all the clients have the option of generating. Bitcoin is a decentralized system. Its one of its big points. "To be successful they need absolutely a " Cyber army "" I dont get this one. |
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It's based around a charting library with a lot of PERL and python code to glue it to the markets.
Do you mind sharing the name of the charting library? |
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Or in a similar one? Mobile work
A way to earn money by texting
Oct 28th 2010 | NEW YORK
THE idea came to Nathan Eagle, a research scientist with the Massachusetts Institute of Technology, when he was doing a teaching stint in rural Kenya. He realised that, as three-quarters of the 4.6 billion mobile-phone users worldwide live in developing countries, a useful piece of technology is now being placed in the hands of a large number of people who might be keen to use their devices to make some money. To help them do so, he came up with a service called txteagle which distributes small jobs via text messaging in return for small payments.
Only 18% of people in the developing world have access to the internet, but more than 50% owned a mobile-phone handset at the end of 2009 (a number which has more than doubled since 2005), according to the International Telecommunication Union. One study shows that adding ten mobile phones per 100 people in a typical developing country boosts growth in GDP per person by 0.8 percentage points.
Mr Eagle hopes txteagle will do its bit by mobile “crowdsourcing”—breaking down jobs into small tasks and sending them to lots of individuals. These jobs often involve local knowledge and range from things like checking what street signs say in rural Sudan for a satellite-navigation service to translating words into a Kenyan dialect for companies trying to spread their marketing. A woman living in rural Brazil or India may have limited access to work, adds Mr Eagle, “but she can still use her mobile phone to collect local price and product data or even complete market-research surveys.” Payments are transferred to a user’s phone by a mobile money service, such as the M-PESA system run by Safaricom in Africa, or by providing additional calling credit.
Working with over 220 mobile operators, txteagle is able to reach 2 billion subscribers in 80 countries. It already has the largest contract-labour force in Kenya and new ways of using it are being found all the time. Recently a large media firm asked Mr Eagle for help in monitoring its television commercials across Africa. The company was concerned that, although it had paid for broadcasting rights, its ads could be replaced with others by local television companies. So txteagle pays locals to watch and then text notes about which ads are shown. “I would never think of that myself,” says Mr Eagle. Which is why he is not sure just how big all these small text jobs could become. http://www.economist.com/node/17366137?story_id=17366137&fsrc=scn/tw/te/rss/peIn spanish: http://www.errorespuntuales.es/content/trabajo-m%C3%B3vil |
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The employer cares more about these personal traits than the knowledge that was actually tested in the exams. And for good reason. |
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Very very nice. Did you program the this or did you use some sort of library or program?
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Short the dollar!! It might be the effect QE2...  We should send a letter to Bernanke thanking him. Something lik: Thanks for robbing and stealing from the poor and the middle class. Sincerely, Bitcoin holders. |
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There is the "little problem" of the subjectivity of value, which affects prices in unpredictable ways. So even if you want a graph of the amount of dollars printed vs the difficulty of creating a new bitcoin, it wont tell you what the exchange between bitcoin and dollars will be.
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Good. I agree with others that Schiff is not the type of guy that jumps into something like bitcoin but who knows. Its always good to promote bitcoin. |
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Where do they store the gold you bought? If its in bank they can confiscate it  #1 - The first rule of Fight Club is, you do not talk about Fight Club. #2 - The second rule of Fight Club is, you DO NOT talk about Fight Club. Similarly: #1 - The first rule of the Gold Club is, you do not tell anyone you have gold or where you hide it. #2 - The second rule fo the Gold Club is, you DO NOT tell anyone you have gold or where you hide it.  |
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... bought gold starting ~2.5 years ago, move of the decade imo ... Indeed. I wish I had done the same myself. But you haven't won until you liquidate the gold for more than your purchase price, as a lot of people found to their cost in 1980 ( see the red line on this chart). In my opinion, the time to sell will be when "everyone including the shoeshine boy" is buying gold as an investment and the price is skyrocketing. There is still some years until something like that could happen (there is even a small chance of hyperinflation). When the DOW to gold ratio goes under 3 or 2 its time to start thinking on selling. But I am pretty sure you still have 3 or 4 years until that happens. |
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Its really all about coordination through the natural market interest rates.
If you create monetary inflation you push the interest rates downwards. That leads to entrepreneurs thinking that they can start more long term projects than consumer really want. Therefore when those projects finish they are revealed as unsusteinable. Its a bubble.
If you create monetary deflation you push the interest rates upwards. That leads to entrepreneurs thinking that long term projects that consumers are looking for are not viable and therefore the economy is not really expanding as it should.
The interest rates transmit the consumer needs to the entrepreneurs. If you artificially change them you will create a distortion on the market.
So its not really that price inflation or price deflation is good or bad. In reality what you really need is the natural interest rates. What happens is that if you dont manipulate the interest rates by creating inflation, as new technologies and new capital appear there is more production and that leads to prices going down. But falling prices its only a consequence of a healthy system, not really the objective or the cause. The really important thing is to have the natural interest rates. If you artificially manipulate it, like central banks do by printing money, then you are distorting the market.
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