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201  Bitcoin / Bitcoin Discussion / Re: [RFC] Our next denomination: UBC on: June 01, 2011, 12:28:01 PM
+1 BTC ..I really don't see it as a problem. We have enough precision past the decimal. So what if we're dealing with small numbers, the "Bitcoin" theme is still just getting out for most people, no need to confuse millcoins or microcoins yet. When the value passes $100 US/1 BTC, then we may need a change.
202  Bitcoin / Bitcoin Discussion / Re: Early speculator's reward antidote on: June 01, 2011, 12:21:42 PM

casascius's proposition is exploiting is what is, in my opinion, a weakness in bitcoin as a currency, that they are not truly fungible. (And it is related to the fact that they haven't got true anonymity either.)

His proposal is to selectively value bitcoins generated from different difficulty eras at different rates for conversion to the new system. If bitcoins were truly fungible each would be indistinguishable from the other and this process would not be possible. There would be no question about devaluing the early adopters gold because gold would just be gold, wherever and whenever it was found. After it is all melted down in a big pot there is no new gold and old gold.

As a currency, quasi-fungibility is a weakness and he is proposing an exploit, what are we going to do about it?

Coin mixing services will be more popular if anyone other than crazy people start taking this 'treat some coins differently that others' seriously.

It's not a weakness as it's a ridiculous idea.
203  Bitcoin / Bitcoin Discussion / Re: Early speculator's reward antidote on: May 31, 2011, 05:38:10 PM
If coins are not fungible that is probably not a good thing, so this different values for different coins of the same blockchain doesn't sound like a good idea.


Which is why I suspect that if a new, better, BTC+BCP client suddenly appeared on the market, that instantly reminded you of the BTC-to-BCP "convertibility value" of every coin in your wallet without actually doing a conversion, even the staunchest BTC purists would not be able to deny that BTC suddenly lost a shade of their fungibility, which would make BCP more attractive.

In fact, my very mention that I perceive that some BTC are better than others has already slightly diminished the fungibility of BTC in and of itself (including my coins, all of which are easy-to-medium difficulty ones)

Haha. No. Your delusions about some coins being better than others are your own. Nobody is going to modify the core client for this BCP scheme. Simply build your own pure BCP chain, with whatever distribution flavor you like, and if it has merit people will join you. Or just give your coins away and absolve your guilt.
204  Bitcoin / Bitcoin Discussion / Re: Early speculator's reward antidote on: May 31, 2011, 05:03:05 PM
Please spend your fortune and implement this as BCPCoin - then we'll see how many people want to use your system. Or just donate your coins and be done with it. But the incessant whining is just too much.
205  Bitcoin / Bitcoin Discussion / Re: Bitcoin distribution on: May 31, 2011, 02:07:26 PM
create a 2nd blockchain, FairCoin, where coins will be redistributed to all nodes every xxxx blocks. That way late adopters just need to hang in for the next change and they will get an equal share!

People have the energy to whine on the forums but not the energy to create the Bitcoin^2 blockchain they so desire.

Bitcoin (the original) is not changing - if you don't like it, don't use it and start your own! Pretty simple.
206  Bitcoin / Bitcoin Discussion / Re: Early speculator's reward antidote on: May 31, 2011, 01:42:10 PM
I'm continually amused by the bitterness concern shown by people new to bitcoin that it is somehow unfair that others found out before them, and gosh darn it have more bitcoins than they do!

Surely this should be remedied as in similar situations. Clearly all the shares of facebook are ready to be distributed by some sort of lottery to anyone interested? Perhaps real estate will have a similar redistribution, this will be my chance to own disneyland! How dare someone else have such a claim.

I guess we should be happy that they're content to whine post those concerns here on forum looking for a solution rather than actually putting all that effort into the real solution: create your own blockchain with whatever random distribution rules you want. Clearly it will be popular and become larger than the original bitcoin, as so much thought has been put into it. If you are not happy with Bitcoin, create your own LotteryCoin ! But I guess that is harder than begging on the forums to change the original Bitcoin to suit their wants, which will not happen. 
207  Bitcoin / Bitcoin Discussion / Re: Bitcoin v2.0 on: May 28, 2011, 07:41:21 PM
simple answer, start your own blockchain. distribute initial coins however you want. when it becomes more widely accepted and has more network power than Bitcoin then I will be the first to congratulate you.

No doubt there will be competing blockchains with different characteristics - and there should be.

No reason to change the original Bitcoin, let it continue obviously. Those who do not want to support it like yourself do not have to participate.
208  Economy / Economics / Re: Nobel economist Krugman on bitcoin and crypto-currencies. on: May 27, 2011, 08:46:59 PM
Krugman's opinion would be similar to Cowen's or any of the other mainstream guys who refuse to think it is viable:

a wise man once said, "It is difficult for a man to understand something when his job depends on not understanding it."
209  Bitcoin / Project Development / Re: [RFC] Betcoin on: May 27, 2011, 08:41:46 PM
I think it's a great idea for an alternate chain. Like I said, it will be a lot of overhead, aka 'spam' in the blockchain. A protocol designed for exactly this type of system would be very cool, call it PredictionCoin or something.
210  Economy / Marketplace / Man U v. Barca Champions League Final - !! on: May 27, 2011, 02:10:18 PM
Last major soccer/football game for a long, long time, and it should be a classic.

Available for betting now at

Also NBA Finals gm1 and NBA Finals To-Win Title action listed. Mavs vs. Heat!

Min bet only 1 btc, operating successfully since January with many positive reviews.
211  Bitcoin / Project Development / Re: [RFC] Betcoin on: May 26, 2011, 04:30:10 PM
I understand what you are saying - we'll see. It is possible, the blockchain can store arbitrary data. There would need to be an upgrade to the client to support the new rules / miner aspect.

Perhaps this would be better as a separate blockchain supported by those who intend to use it? I really don't like the idea of additional blockchain spam in the main chain. It's growing fast enough already.
212  Bitcoin / Project Development / Re: [RFC] Betcoin on: May 26, 2011, 03:56:53 PM
Yes, my version requires me to verify and mark the outcome of an event.

However, these outcomes are very public and easily verified if any mistakes are made.

I understand you want to add your 'bets' to the blockchain and have a version of auto-settlement - but frankly I'd prefer less blockchain spam / escrow accounting and have it be fully post-up to remove the counterparty risk.

Of course the site would need to be trusted, a la mtgox. I already run a site that has been handling transactions for hundreds of trusting users since January, so that should help.

But of course there will be competition and if another solution works better, then so be it.
213  Bitcoin / Project Development / Re: [RFC] Betcoin on: May 26, 2011, 03:38:29 PM
Versions of this are already being built - I'm finishing one up myself. Basically Betfair (sports) / Intrade (current events) with fixed contract size and btc accounting.
214  Bitcoin / Bitcoin Discussion / Re: Satoshi's spare change? on: May 26, 2011, 02:15:42 PM
sending .01BTC to satoshi is the new sending .02USD to kidpoker on pokerstars (when that was legal).

As far as the bitter people, i mean 'make bitcoin more fair people' - please start your own blockchain. When others who share your view join, and accept the new coins for goods and services, and it becomes stronger than the original bitcoin chain - I will be the first to congratulate you. Seriously.
215  Economy / Economics / Re: What are all these coins being spent on? on: May 26, 2011, 12:57:14 PM
well considering im new to bitcoins and have only acquired about 0.75 btc from mining i haven't spent them on anything. I do plan on betting on an upcoming UFC fight if i can make it up to 1 btc by then. after that.. idk there are a lot of services available its pretty amazing, im very glad i found out about btc before it was too late (wish i would have been here when the price was much lower tho). I dont think I would cash in unless i had over 100 btc to spare because I would rather trade em for goods in my mind its an alternative to $ not a way to get $.

well, betting on UFC fits. take a look at my signature Smiley

I've seen more traffic as the price keeps rising, so gambling is an active part of the economy and I wouldn't call it hoarding.
216  Other / Obsolete (selling) / Re: $25 DonorsChoose gift card - 2BTC on: May 26, 2011, 12:03:53 AM
Thanks...btc sent and confirmed in blockexplorer.
217  Bitcoin / Project Development / Re: Letter to the EFF on: May 25, 2011, 08:47:49 PM
whoa, it does look like it was ?
218  Other / Obsolete (selling) / Re: $25 DonorsChoose gift card - 2BTC on: May 25, 2011, 08:04:14 PM
Could you donate it to my classroom?  Smiley

Do you have two bitcoins?  Wink

Tell you what, someone (other than jbjbjb) send me ONE bitcoin and I'll donate the money to jbjbjb's charity of choice.  Look at those first grader's faces.  Help out a fellow bitcoiner.

deal. tell me where you want the 1btc shipped, and then just use the card for jbjbjb's project. Make sure to mention bitcoin in your note for the project page so I know you did it Smiley
219  Bitcoin / Bitcoin Discussion / Re: What's the purpose Behind all the Mining? on: May 24, 2011, 07:47:14 PM
lol I can see how this system will go down when the hype is over and no-one wants to buy the coins anymore.

Right, there can't be a market for fast, secure, frictionless, anonymous (if desired) international money transfers without involving third parties like banks. I guess Western Union, Paypal, bank wires, should be good enough for anyone, right? Thanks for stopping by.
220  Bitcoin / Project Development / Re: Mt. Gox Market Manipulation Question on: May 24, 2011, 07:39:28 PM
they better be ready to buy at 6.5 - if enough sellers come in at the same time, it will get there fast and they will be executed. Pretty dangerous way of trying to 'signal' the market.

I'd say it's more likely that person calculated an entry point at 6.5, wants to get the coins at that price, so rather than wait and nibble, they hope to catch a large downswing and get executed.

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