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621  Alternate cryptocurrencies / Altcoin Discussion / Re: A fair and strong Bitcoin fork design exploration, "Faircoin" on: November 01, 2012, 07:38:00 PM
Another (not-at-all-recommended) wild idea completely different from anything I've seen put out there yet - an inflationary coin, where the number of satoshis mined in a block = block difficulty, with no limit to number of coins that will exist. This lets the currency base grow with the adoption rate (measured by mining), however a divergent series as naively implemented as this could quickly "inflation" the value to zero over time.

Oh this idea has been proposed in the past. It is not a good one though because tying coin reward directly with difficulty means that as computing hardware gets better, people make more coins. It is a very big disincentive to use the currency when inflation is a factor of computing power. That is why with the Encoin and Decrits proposals I've made, mining is separate from network security and is based around a per-user approach rather than the lottery approach of bitcoin.

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Probably a good median is a permanent 50 BTC reward (to counter "lost coin" and also address the "fees must replace reward" problem), but that doesn't address this fair launch of a new coin, which is my primary focus here.

This is also addressed with Decrits. Early mining is rewarded in several multiples of the regular award, reducing over time until it reaches the regular award. Early adopters are still well rewarded, but they will not be able to purchase a mercedes from a couple dollars of electricity.

I think you still have failed to describe why the early adopters of Bitcoin making it rich is a bad thing. They made money, got motivated to make more money, got the word out, built services, etc....

I think he stated it somewhat clearly:

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They can crash the currency value if they want

This is a significant detriment to business and trade.
622  Bitcoin / Development & Technical Discussion / Re: SHA-256 broken, collisions found... Bitcoin then? on: November 01, 2012, 07:25:19 PM
An abrupt change in hashing schemes would be very costly.  If a huge flaw was discovered in SHA256, that cost would be worth it.

But without a flaw, there is no reason to rush.  My scheme would allow new devices to start up gradually, and allow old devices to fade out gradually.

But the difficulty of SHA3 surely won't be the same as SHA2, so the target can't be the same. If SHA3 is more difficult, no one will use it, if SHA3 is less difficult, everyone will use it. Adding a separate target for each algorithm will add a whole bunch of headaches.
623  Economy / Service Discussion / Re: My friend's friend's dad owns a Bitcoin ONLY bar on: October 30, 2012, 09:30:57 PM
I, for some reason, am doubting the veracity of this claim.
624  Other / Politics & Society / Re: When the Fed buys mortgages from banks is it trickle down economics? on: October 26, 2012, 04:52:33 PM
A quite astounding defense of your position right there. A round of applause for you.

Your bi-polar histrionics make you of no further interest.

I'm not here to educate you on what you could spend 3 seconds on wikipedia learning about. Your post was a complete mishmash of misguidance, but "opinion" comes more in to play on the other issues to which I replied in more detail. If you can't grasp the basic concepts, why on earth should anyone listen to anything that you have to say?
625  Other / Politics & Society / Re: When the Fed buys mortgages from banks is it trickle down economics? on: October 26, 2012, 04:35:58 PM
You apparently think it is about throwing rocks through windows.

You have equated it with trickle-up economics. You are retarded and should have your posting privileges removed.
626  Other / Politics & Society / Re: When the Fed buys mortgages from banks is it trickle down economics? on: October 26, 2012, 04:15:45 PM
Broken window fallacy.

LOL. You apparently lack any understanding of the broken window "fallacy" at all.

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Without trying to pull a Mitt, many of the poor are poor because they have shitty money management strategy and will just end up wasting the money, probably giving it to those corporations who you decried above.

The wage stagnation of the middle and lower classes has nothing at all to do with this, of course, and the fact that most can only afford to buy that which they helped produce on credit because credit is more readily available than wages. This is obviously the way it should be and it makes for a thriving economy. See: economy.

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Trickle-down economics does have issues and has been abused and used to justify some truly crappy policies though. But in principle, it benefits nearly everyone to have money stay in the private sector than funnel it through the flaming-money-pits of government coffers.

Obviously, in principle, it does not because of how much influence extra "trickle-down" money can have over politicians, and this sway is almost unilaterally used to benefit those who have the money to influence, not the general population. The "flaming-money-pits of government coffers" is simply a step removed from the private sector as all government spending does reach the private sector, and it in effect redistributes the wealth more evenly across the population. It certainly is not the greatest way to do it, but it is the only countermeasure to the private control of money.
627  Other / Politics & Society / Re: Why are people scared of taxes? on: October 26, 2012, 01:35:21 PM
I was the IT guy, I had no clue whatsoever that it was going on. That's my story and I'm sticking to it. Grin
628  Other / Politics & Society / Re: Why are people scared of taxes? on: October 26, 2012, 01:05:15 PM
Examples of abuse:

Extra visits
Extra analysis
Extra treatments

I'd bet it's quiet common everywhere.


Anecdote: A small health center I used to work for got raided by the FBI (I think, this was many years ago and it was after I quit, might have been another three letter) for medicare fraud. They were committing a lot of fraud.
629  Bitcoin / Development & Technical Discussion / Re: SHA-256 broken, collisions found... Bitcoin then? on: October 26, 2012, 05:02:23 AM
A collision or preimage attack on SHA256 wouldn't have any effect on bitcoin, as far as I can tell. This does not increase the brute-forcing ability of finding m + nonce where h < difficulty.
A collision attack on RIPEMD160 would be worrisome, but you still need to know the private key of the public key being hashed, and private key ECDSA operations are many magnitudes slower than hashing.
630  Bitcoin / Bitcoin Discussion / Re: Bitcoin algorithm change on: October 25, 2012, 05:31:23 PM
I have read that Bitcoin can relatively easy replace SHA256 with another hash algorithm if SHA256 security is at question. This will cause all clients to update but it will not change how Bitcoin operates.

Relatively is a relative word. It is a hard fork and not an easy thing at all to accomplish. It will also void all ASIC hardware.
631  Bitcoin / Bitcoin Discussion / Re: Bitcoin algorithm change on: October 25, 2012, 04:55:55 PM
If an attacker reveals a way how to make an attack. He will, likely, keep it in secret. Also, if the attack lets to find a hash with ALL zeros then "difficulty" will make no sense anymore.

This is not how attacks on hashing algorithms work. At least, no one has ever studied the possibility of it because it would normally be retarded. In bitcoin's case, it would make a bit more sense, but I don't know if such a thing is even possible. Hashing algorithm attacks fall under the category of collision attacks, where m1 != m2 but h(m1) == h(m2) or pre-image attacks such that given a hash h find a message m that hashes to it. There is no such attack as "given m + nonce, find h < difficulty faster than brute force". Even MD4 and 5 are not broken in this sense at all and could potentially be used for bitcoin without repercussions other than being only 128-bit.
632  Bitcoin / Bitcoin Discussion / Re: Bitcoin algorithm change on: October 25, 2012, 02:12:07 PM
Sorry, but I disagree. If coming up with a hash with lots of zeros is faster than simply finding a nonce,

But this is extraordinarily, unbelievably, impossibly unlikely. The block has to be 1) a valid bitcoin block, which heavily limits what data can be used to find a collision and essentially goes back to using a nonce, and 2) limits you to ONE SPECIFIC hash whereas searching for ANY hash with the correct leading number of zeros is many, many magnitudes easier. Bitcoin mining is essentially already a partial-collision attack.
633  Bitcoin / Bitcoin Discussion / Re: Bitcoin algorithm change on: October 25, 2012, 01:52:02 PM
Your confidence in strength of SHA-256 changes nothing. The algo can be cracked tomorrow... or in 1000000 years.
20 years ago almost everyone was sure that MD4 couldn't be compromised. Now it can be.

Even if there are collision attacks against SHA2, I don't think (IANACryptanalysist) it would even have much of an effect on how bitcoin uses it. There are no passwords being protected by it. Coming up with a hash with lots of leading zeros via a collision attack surely cannot be faster than simply finding one randomly with a nonce. Now that new code prevents any issues arising from new blocks having the same hash as an older block, there really is no particularly effective attack even if SHA2 becomes significantly weakened. If there is a collision attack against RIPEMD160, things are a little more dodgy, but you still have to have a private key that matches a public key that hashes to the RIPEMD hash.
634  Economy / Economics / Re: Defaltionary Spiral -- Is there a way to make this workout? (hoarding bitcoins) on: October 23, 2012, 04:28:12 PM
Why is it fair to give it to the government to give the banks?

Why is it fair to give it to the rich? Is there really any difference? (Besides the obvious that you and your bitcoin buddies stand to make millions.)

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The only solution to this problem is a currency that doesn't inflate.

No, it isn't. You didn't even offer a solution, you offered the exact same problem with a shiny new box.
635  Alternate cryptocurrencies / Altcoin Discussion / Re: Cryptografic currencys in future on: October 21, 2012, 10:44:14 AM
Blah blah blah... prove that it is "fundamentally unpossible"

You guys are arguing the same thing.
636  Economy / Economics / Re: No central bank == banking crisis? (US between 1834 - 1913) on: October 20, 2012, 06:09:20 PM
Deflation results in lower interest rates, not higher. There is less demand (and more supply) for loans.

http://en.wikipedia.org/wiki/Real_interest_rate

Nominal interest rates are meaningless. Less demand would likely be the result of the increased risk, which applies to both sides of the supply and demand curve.
637  Bitcoin / Bitcoin Discussion / Re: 78 percent of Bitcoin currency stashed under digital mattress, study finds on: October 20, 2012, 02:22:18 PM
Where is this concrete data on lost coins?
638  Economy / Economics / Re: Defaltionary Spiral -- Is there a way to make this workout? (hoarding bitcoins) on: October 20, 2012, 06:47:59 AM
After ASIC release - a the expected development steps to up the transactions per second we should be in the ballpark of being able to handle visa's transaction volume. Then will be the time to push for mainstream adoption by some super-entity...

ASICs will have no bearing whatsoever on transaction volume scalability. All they do is crunch SHA2 hashes. Transactions are ECDSA verifications.
639  Alternate cryptocurrencies / Altcoin Discussion / Re: [PPC] Is Sunny King (of PPCoin) RealSolid (of SolidCoin)? on: October 20, 2012, 06:39:49 AM
Are you suggesting that the developers of a cryptocurrency should be compared to politicians?

wtf bro, you brought it up

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The minting rate is biased towards early adopter profits. However, AFAIK that's a necessity, since it provides an incentive to invest into mining infrastructure at an accelerated rate. The public good aspect is not related to the wealth transfer in bootstrapping the currency, but to it's sustained features.

It isn't just biased towards early adopter profits, it's biased against a well-functioning currency. Deflation is stupid, especially at the insane levels required for the bitcoin-ilk to achieve any remote amount of currency market share. It is too early to tell and I'm not about to spend time reading the PPC code or envisioning future scenarios for it, but it seems like it will be even more early-adopter heavy than bitcoin.

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Which also reminds me of one of the fundamental problems of cryptocurrencies which still has to be resolved. The reward system does not have incentives for cryptocurrency maintenance and improvement. The only incentive developers have is to implicitly benefit from the super-early adopter advantage and hold on to those shares until the cryptocurrency has matured and they can simply act benevolently. However, that doesn't protect the currency from being abandoned by the core developers (pump&dump).

Tying the cost to produce something more than just supply and demand would be a start. :cough decrits: Tongue
640  Bitcoin / Bitcoin Discussion / Re: Yankee goes on Adam Kokesh to discuss Bitcoin. on: October 19, 2012, 10:03:48 PM
riiiight, need to work on that delivery then
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