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1201  Other / Off-topic / Re: Why Corporations are Good for the Poor! on: May 07, 2012, 03:28:02 AM
Shadowstats puts the inflation number at 10% based on 1980 methodology.  

Correction: Shadowstats puts the inflation number at 10% based on bullshit.

http://delong.typepad.com/sdj/2011/12/james-hamilton-on-shadowstats-and-niall-fergusons-claim-that-true-inflation-is-more-than-10-per-year.html
http://voxrationalis.wordpress.com/2011/05/15/the-absurdity-of-shadowstats-inflation-estimates/

etc. ad nauseum

if inflation is 10%, prices double every 7 years. this is clearly not the case. please have some sense and realize that wild and crazy claims might just not be true.
1202  Alternate cryptocurrencies / Altcoin Discussion / Re: RFC: Coin with elastic block reward? on: May 07, 2012, 02:54:49 AM
My proposal is to create a scrypt coin (to avoid the CoiledCoin MM disater).

Don't include merged mining and you won't have to worry about this disaster.

https://bitcointalk.org/index.php?topic=64637.0 - this is my proposal for using a difficulty-based coin award. unfortunately it features a big kludge where accounts are flat-taxed if mining drops. I think it would actually work pretty well for this style, but the threat of losing money, even if you're not losing value, will turn people off.
https://bitcointalk.org/index.php?topic=49683.0 - this is my proposal for a completely different style of coin not based on a block chain and does not require mining for security
1203  Economy / Economics / Re: How to make bitcoin be worth more? on: May 06, 2012, 06:03:49 PM
Last year's "crash" was because the bubble burst. Back then, Bitcoin's value was much lower than it is now, but speculators kept on buying like crazy. An exchange got hacked, which caused a sudden mass realisation in many people's minds: "I paid too much". And when a lot of people suddenly don't want a product any more, what happens to its price?

IIRC, the price had gone from ~$32 to $15 before mt. gox got hacked. And nothing irreversible actually happened, it was only through the site, no coins were actually lost.
The bubble happened because bitcoin's scarcity was artificially increased by those with existing coins. There was hardly any volume on the way up to $30, just very few actually putting coins up for sale.
It was simply a matter of "I have X amount of coins that will make me X dollars and they're burning a hole in my pocket" that caused the "crash," and the fact that the great majority of people were not stupid enough to believe bitcoins were worth $30+.
1204  Other / Politics & Society / Re: Americans Elect (third party) on: May 05, 2012, 02:06:23 PM
Although it sure had me fooled and I've signed up and supported candidates, it is just another corrupt organization.

http://ouroregon.org/sockeye/blog/americans-elect-truth-behind-corporate-scheme-swipe-2012-election

There are plenty of links out there detailing what they did to essentially give their self-elected board complete veto power over who gets on the ballot regardless of how the members ("delegates") voted. I do hope they actually get a 3rd person on the ballot just to shake things up, but I am not putting any faith in their organization nor will I give them a dime.
1205  Economy / Economics / Re: Best investment you can make is debt. on: May 04, 2012, 01:04:05 PM
Oh, well if you say so it must be true.
1206  Alternate cryptocurrencies / Altcoin Discussion / Re: MicroCash - New CryptoCurrency on: May 04, 2012, 05:05:10 AM


1207  Economy / Economics / Re: The myth of the panic depressions before the Federal Reserve... on: May 02, 2012, 05:48:16 PM
An astute observation, my dear MoonShadow, quite unlike your implication that the Fed has some control over the federal government because it is its biggest lender.
1208  Economy / Economics / Re: The myth of the panic depressions before the Federal Reserve... on: May 02, 2012, 02:52:27 PM
OHNO THE FED PAYS ITS OWN SALARIES, THAT MEANS THEY HAVE THE US GOVT BY THE BALLS

HEARD IT HERE FIRST!

Note that I said profit.
1209  Economy / Economics / Re: The myth of the panic depressions before the Federal Reserve... on: May 02, 2012, 12:31:53 PM
Partially true, mostly not.  The single largest creditor of the US Federal Government is The Federal Reserve and member banks.

The Fed may be the largest creditor, but any profit the Fed makes goes to the treasury, so this is always a silly point.

The real problem is whom the politicians are indebted to. The problem beyond that is this cycle of inflation that makes saving money absolutely pointless so that one cannot hedge their bets against economic collapse. If savings were actually rewarded by having increased purchasing power in down economies, one would not be forced into 401ks and IRAs and their ilk and thus at the whim of the economy. But then the middle class would have a lot more clout, and that simply isn't good if you're wealthy.
1210  Alternate cryptocurrencies / Altcoin Discussion / Re: Microcash.org says "Solidcoin" on: May 01, 2012, 10:37:41 PM
Okay, perhaps you've just touched on our failure to communicate here - How exactly does one use MicroCash without becoming a node?

MC is apparently heavily promoting a lite client. But the funny thing is, you don't get paid for having a full node, you just get paid for having a lot of coins. Since there is not necessarily any future correlation (I will admit there is a current one since like 10 people use SC), you are just getting paid by having coins.

Quote
The possible account-space for a modern cryptosystem comfortably exceeds the number of atoms in the universe by a factor of more than a google.  Given that they don't count as a scarce resource, that inactive accounts have no effect on either network or storage, and that disposable one-time-use accounts provide one of the bigger selling points of a cryptocurrency - What does this first point matter?

They are switching to an account ledger rather than a transaction ledger as described in various places around the forums here. RS claimed on his forums that "he just thought it up." This means that accounts use up about 1/4th the space of a bitcoin transaction, and there is only 1 balance per address, so there is a significant reduction in the amount of data required to store any given address. This is somehow reasoning for charging a daily fee (in reality, it allows for the charging of a daily fee, so the RS group decided to take advantage of that).

Quote
Again, what infrastructure?  We (the users of the currency) provide all the necessary infrastructure, all the end-point computing resources, the entire raison-d'etre for any currency.  I don't see how charging us for our own contributions makes the network in any way "better".

Yeah I don't follow his logic at all there either.

Quote
How does that encourage new users of the system, to know that they get to pay a tax to others who can effectively retire on their now-idle "investment" capital?

God exists because the Bible tells me so.
1211  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Litecoin - a lite version of Bitcoin. Launched! on: May 01, 2012, 10:29:34 PM
Spoon feeding - zero confirm transactions.
Try reading the thread again.

Try not being vague. "Oh I was talking about this, now I mean this!"

Quote
You may see no difference between an average 10 minutes and an average 50 minutes, but I can GUARANTEE that more than 90% of people would see the difference.

More unsubstantiated talk.

Zero confirm transactions are no safer under Litecoin than Bitcoin. Because here is the reality: to easily and successfully pull off double spends in a retail environment, multiple people will use the same coins in different places at the same time. AFAIK both bitcoin and litecoin clients will not transmit "double spend attempts", therefore it is unlikely that a merchant will ever see a double spend to know that this is happening. This attack is far, far easier than any other, and any 13-year old script kiddie can figure it out. In 2 minutes your customer is out the door and out of your reach.
1212  Other / Archival / Re: delete on: May 01, 2012, 10:01:53 PM
One of MC terms I have a G alert set on is "Microcash.org"....since you are apparently are a "l33t" Google user check that one out and report back.

"There are no recent results for your search query. Below is a sample of the type of results you will get."

Quote
Lastly, you indeed do have that distinctive Coinhunter shit all over your nose. Just accept the fact you made a stupid statement and was schooled on it by BCX, not the first, nor last Coinhunter sockie/follower/swallower to do so.

Schooled on what? The fact that you are a complete waste of bytes around here?

You are a total baboon.
1213  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Litecoin - a lite version of Bitcoin. Launched! on: May 01, 2012, 09:55:13 PM
The confirmation is an entry recorded in each valid new block that confirms that a transaction has occurred and is valid.  Why would 6 valid new blocks for litecoin be less valid than 6 valid new blocks for bitcoin?  In terms of probability, they should be no different.  Bitcoin uses 100 blocks for confirmation of newly discovered blocks by any client and the same is true for litecoin.

Why do you insist on responding with irrelevant/incorrect information? How is difficulty/4 * 6 just as probable as difficulty * 6? "100 blocks for confirmation" has nothing to do with what we're talking about. That is only for coinbase transactions.

Quote
edit: Further, it's known that by probability the 24 confirmations equivalent temporally to 6 bitcoin confirmations should be more secure as long as the rate of orphan blocks is not high, which it hasn't been lately.
https://github.com/coblee/litecoin/wiki/Comparison-between-Bitcoin-and-Litecoin

I am not a probability expert, but I would like to see some actual math to back that up. It may be true, but it's still irrelevant to the discussion about transaction times.
1214  Other / Archival / Re: delete on: May 01, 2012, 09:23:45 PM
Hey retard,

Google alert as in email, as soon as the alert term is indexed it is triggered.

The fact you can find it means it is indexed.

Where does CH get you morons?

~BCX~

Hey buttface,

I have nothing to do with CH and you should well know this. I only call things as I see them, and this is obviously a bullshit piece that was contributed by someone who likes to stir shit up, aka YOU.
With google alert, you can check what items were indexed today under specific terms, and as I said, neither show this article. If you have "microcash ripoff" alerted, then you would probably get the alert. If you have "microcash" alerted, you are going to be receiving 10s of emails per day as this term is not specific to the new solidcoin. Even looking through 15 pages of google "solidcoin ripoff" does not show this link.

Now I don't know a whole lot about Gavin, but I highly doubt he wrote this piece, which again means it was contributed to someone who likes to stir shit up, aka YOU.

Do you have anything to do with identi.ca?

Anyways, it is obvious you wrote this.
1215  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Litecoin - a lite version of Bitcoin. Launched! on: May 01, 2012, 09:16:20 PM
Yes, there is to early adopters, and that is block reward halving much quicker.

Broseph, try to stay relevant. Block speed has nothing to do with block reward, and litecoin is designed to halve the reward at the same ~4yr pace as bitcoin.
1216  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Litecoin - a lite version of Bitcoin. Launched! on: May 01, 2012, 09:06:43 PM
I scanned the thread and there is nothing enlightening in it in regards to faster blocks, mostly just you going off about how the world is out to get you and can't understand how great your idea is.

There is no massive downside to 10 minute blocks; there is no massive upside to 2 or 2.5 minute blocks.
1217  Other / Archival / Re: delete on: May 01, 2012, 09:02:45 PM
funny how google alert does not show this article for either solidcoin or microcash, and you have to dig I don't know how many pages deep when searching for microcash to find it
1218  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Litecoin - a lite version of Bitcoin. Launched! on: May 01, 2012, 08:33:33 PM
That's why I said "assuming an identical hashrate"... It is true if the hash rates are (qualitatively) identical. As it is now, you probably need 100+ confirmations in litecoin to equal 6 bitcoin confirmations. Possibly way more, I don't know.
1219  Other / Archival / Re: delete on: May 01, 2012, 07:50:30 PM
Quote
Reported By: Gavin

Uh.

haha I didn't catch that
1220  Other / Archival / Re: delete on: May 01, 2012, 07:48:52 PM
Quote
Solidcoin relaunched as MicrosCash after coming under scrutiny of InterPol, Germany's Bundespolizei (BPOL) and the US DOJ.

riiiiiight

so did you write that yourself?
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