The 0.5% fee is the fee they charge for the service. The Shared Coin fee is a transaction fee that goes to the miners.

Sooooo conflicted. On the one hand, I want PayPal to pay for their BS, but on the other, I don't want them to improve, so that Bitcoin continues to be a much better option 

I'm just wondering, does AnonyMint actually expect people to read all his links? I guess it's just another sign of rather extremely overblown ego...  

Sorry, to be more specific, you can't go from a lower state of energy to a higher state of energy without adding energy. The energy to do that has to come from somewhere. Simplest example is a rock at the bottom of a hill can't get to the top of the hill without energy being added to it. Once at the top of the hill, it can discharge its energy by rolling back to the bottom. Likewise with electricity in the air. It is there, but it is all dispersed already. In other for it to become flowing current, you need to have it flow from a point of higher concentration of electrons to a point of lower concentration of electrons. Since all the electrons are equally dispersed, the only way to do that is to bunch up all the electrons into some space that will end up with a higher concentration of them than the surrounding space. That needs energy, either used to create static friction, a magnetic field that pulls them all together. It's kind of like being under water in a lake and trying to get water to flow through a pipe. Sure, there is water all around you, and your pipe will be full of it too, but unless you use some energy to push the water through your pipe, all that water is useless for doing work.

Did the confiscation of wealth in Cyprus from the savers make Cypriots better off? Cause op was saying at the expense of, and you seem to be disagreeing with something...



It's not the euro, it's deficit spending. You have two options: keep spending more than you take in, inflating currency, and continue until you hit hyperinflation and currency collapse, OR keep spending more than you take in, but have no methods of inflating currency, and hit a wall at which you can't spend any more, causing social program collapse. Or you could maybe not keep spending more than you take in. I think spending more than you take in is the problem here. The only difference between Greece that can't print its currency, and other countries that can, is how high of a bubble they can inflate before they explode.



If I knew it was the right decision, sure, why not?

This results in a regression of risk down the chain of producers, but the risk is ultimately taken on by the bank.
The initial money has to come from somewhere. In inflationary currency, the cash starts with the bank, and goes

Bank -> Producer A -> Producer B -> Merchant

then on the way back, the cash flows

Customer -> Merchant -> Producer B -> Producer A -> Bank

Point is, cash has to come from somewhere, and the bank is the risk taker, despite the final link in the chain, the Merchant, being where all the risk is. If the merchant fails to sell, everyone up the chain loses, too. In a deflationary system, instead of buying and holding inventory, and paying back for it after it sells, likely the bank will be funding the merchant, and the cash will go

Bank -> Merchant -> Producer B -> Producer A

then when product is sold, it will go

Customer -> Merchant -> Bank

This way, the bank knows exactly where it is placing its risk, and none of the producers up the line are at risk or depend on the merchant selling, since they get their cash upfront. Chances are, the merchant and the bank will be the same, or rather the merchant will be operating on savings instead of on debt.


The euro is not deflationary, so that's bullshit. Greece problem is not deflation, it's excessive borrowing.


Kisa, can you explain the ethics behind that statement?

Who the hell would spend billions on a 51% attack, and what the hell do they expect to get out of it? 51% attack doesn't automatically destroy bitcoin. At best, it lets the attacker double-spend. It doesn't change the rules of the network, since those are maintained by miners and wallets, and it doesn't even block transactions fromm going through, as there is a very easy fix for that.



That would be pretty fun to watch, as every single citizen in the country protests to the point where the politicians who did that are literally dragged out of their government buildings and shot. Though I doubt it would ever come to this, since politicians know they need votes to keep their office, and would rather get anonymous bitcoin donations than vote for laws to shut down the internet.

Time to get yourself unbrainwashed about that whole Deflation = Bad!!! thing.

Customers don't wait to buy new things, as evidences with people lining up to buy new gadgets.
When currency deflates, customers feel like they have more disposable cash to spend, and thus increase spending.
Merchants will not be working in a deflationary economy with expectations of being in an inflationary. Just as merchants calculate and adjust prices for the rate of inflation, they will adjust prices for the rate of deflation. Right now you expect the value of what you are asking for to fall, so you adjust prices up with expectation that if they sell in a month, you will earn -3%/12 of the current day value. In deflation, you expect the value of what you are asking to go up, so you adjust prices down with the expectation that you will get +3%/12 at the end of a month. I.e. if inflation or deflation is 1% for a period, and your cost of product is $100, you will price it at $101 in inflationary currency, or $99 in deflationary currency, expecting to get the same $100 value when it sells. Customers will just get used to this too.

Someone needs to figure out how to send a Phinnie

It's actually a plain mixing service that was implemented a long time ago, way before CoinJoin was proposed. They have a separate CoinJoin style transaction option that does use CoinJoin, but as far as I know, requires you to use a blockchain.info wallet, since CoinJoin has special nonstandard transactions. Fees are different, too, with 0.5% for Send-Shared, and a standard 0.0001BTC transaction fee for CoinJoin (with multiple mixes suggested, each one costing an extra 0.0001BTC)

People will pay commissions for custom designs, or donate to designers for existing designs. Plus, jus as iTunes and Netflix provides a service or storage and organizing more than the service of selling music and videos, people will pay to have someone else store, catalog, and provide designs for them, instead of having to keep them on their hard drives themselves.

Can you ask how blockchain.info does it?

I wouldn't bother with him. He's kind of a long-winded, big-headed, self-important troll 

They, uh, don't, actually. They either get current from a wire, or from energy input from friction. Getting current from air is about as effective as getting moisture from air by just hanging up a rubber hose and expecting it to fill up with water.
That whole "energy can not be created or destroyed" is a pretty solid law.

And another one:

INTP and INTJ are needed to make things work. Others are needed to make things pretty and entertaining, and convince others to use it. We hope that others will use things because they work, not because they are pretty. I'm sure we can get some people to make bitcoin pretty when we need it, too.
As for governments banning bitcoin, hah! Of course we considered it. We just understand that it'll be as effective as banning Bittorrent. I.e. not very.

Received this:


and I replied with this:


Let me know what your opinions are of this one.

Um, that's transmission, not generation. We'll still need resources and money to generate the current that goes into the Tesla coil, won't we?

Where the merchant requests the transaction, the transaction is signed by the sender and transferred to the merchant, and the merchant verifies it before broadcasting it to the network. Thus the merchant is able to demand a certain custom sized fee, and decline a transaction if the fee they want is not included.
Regarding zero fees, why not do what blockchain.info does, and allow zero fee transactions, and if they don't get confirmed after 24 hours, scrap the transaction and make the coins spendable again.

Ratio of bitcoiners to non-bitcoiners?