+1 Undoubtedly being worked on. Should be interesting to see the first trial attempts. Any bets as to who will introduce the first semi-private block chain? Another couple ideas: mining could be limited to "registered entities", i.e. no blocks accepted without some cryptographic proof that the miners are the "right ones" (friends of the king/CEO). Or, different rewards could be given to the "govt./corp. miners". And/Or, difficulty could be different for "regis"tered miners presenting appropriate crypto credentials. Transactions could be designed to automatically put a certain percentage in a separate royal, er, national account, as an automatic sales tax. Even better (or worse depending on who you are), one or two addresses in the genesis block could start out with whatever balance you see fit.. or certain registered miners could be permitted to create as many as they like in any block. Sound like a bad idea for Joe Q. Public? At least it's better than the current most popular fiats in the world, as at least the public could really know how much was created. So what's in it for the currency masters? A little more trust from the public, who might prefer your brand over your competitor, as well as the guarantee of noncounterfeitability and control. Further, the public ledger has some advantages. In general the addition of a third ledger in an accounting system only makes the system -more- accountable, not less. How to tax block chain currencies, in addition to inflating them, taking fractions from balances, or from transactions: ask people to report their incomes. If you think they are living beyond their reported means, audit them. Yes, there will be the issue of people using BTCs, NMCs, gold, mooncakes, etc etc. which are competing with your new national/corporate currency and are superior (hold value better) for a non-insider. This has always been true when introducing a private currency and always will be. The usual way to start adoption is to pay people in your new currency, this forces them to use it so really it's a non-issue. Good luck, free dummy  http://www.youtube.com/watch?v=M7LO0MXAlwI |
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Great idea! I pledge minimum 50 coins. Not sure who picks the list though, i might not donate to all the orgs.
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Thanks for your work here !
I'm still waiting for somebody to put together a nice RFC to describe these things.. does that seem a possibility for the future?
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Two amusing answers I've heard on this topic since I started proselytizing btc:
1) Bitcoin eh? Scary. Yeah that is the coming of the Apocolypse. The book of revelation says we are going to have one world currency as the hosrsemen bring down the heavens.
2) Bitcoin eh? Don't touch that stuff. Its from the paypal people who want to build an island nation.
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This eliminates the need for connectivity on one of the devices, but doesn't eliminate the need to wait for confirmations. It seems the only way to decrease POS time is to use a trusted third party. Don't forget that when you get home and find your new videos are fakes you are SOL. Should have paid that extra few percent to a third party for fraud prevention |
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Thanks for responses.
Judging by them it looks like the situation currently is:
1) alice and jack need full internet access to do business
2) they also need to wait about an hour for funds to clear
I was hoping somebody would contradict this *shrug*
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Jack Buyer and Alice Seller agreed to use bitcoin on their large deal. It was rumored to be in the 10-100 kBTC range. This was well more than an average years salary range in the tropical location they now resided.
Alice wasn't going make Jack pay upfront before seeing the goods, but to keep things simple they agreed on the price beforehand.
When Jack arrived Alice had the wares out and safely displayed in a requested location, a location with litttle to no external communications available.
Jack took a look at the goods, raised his eyebrows, and agreed to pay the price.
How did the deal go down?
Is there anything Jack and Alice could do to make their deal go down smoothly and with minimal button-pressing or waiting?
Here is one scenario:
Before the deal Jack moves some funds around publicly between wallets to prove he has the cash handy and so she knows the public address of the coins in question.
At the location, Jack hands over the private key to those coins, a QR code he has kept in his wallet or perhaps a base 56 string from memory.
Alice verifies on the spot that Jack's key matches the public address they agreed to, using an ECDSA sig checker widget on her phone, after cursing at her OCR/VR software a bit.
At this point Alice trusts Jack, and offers the goods and tells him he is free to go.. however Jack is more suspicious. He fears Alice's organization and doesn't want to leave them with room to accuse him of anything should the funds move before Alice expects them to.
So he waits while Alice phones an accomplice, and uploads to her the key. The accomplice moves the coins to a new address and they wait six blocks while drinking six beers.
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On a possibly related tangent I heard that was Marx's big theory that money was inherently derived from work (labor).
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The one thing that has always frustrated and confused me about Americans is how they simply refuse to learn from others, and keep trying to figure out and fix things themselves. We have countries with thousands of years worth of trials, errors, and fixed mistakes to learn from, but America, being only 250 years old, thinks it knows better and can figure things out better on its own. We have tons of other education systems to examine, from places that are kicking our ass when it comes to math, science, and culture. Why are we so arrogant that we forcefully put on blinders and just keep throwing shit ideas at the wall to see what sticks, or trying to throw money at the problem to make it go away, instead of picking the best ideas from all parts of the world to be the best period?
LOL what is 250 years old? America is two continents, fool. Is china 50 years old? The most advanced agricultural engineers of all history lived in America thousands of years ago. The education system is really good at what it was designed for.. keeping people dumb. you can read about the philosophy of the people that set it up they are pretty explicit. Sadly that kind of populace isn't as productive as it was when it was set up. |
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The brain has each node DIRECTLY connected to millions of other nodes, where all of the processing nodes of a GPU are not connected directly in such a way.
I think you are off by a couple orders. My sources tell me each neuron has about 10,000 connections. |
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Afghanistan was far better off without the US government, that's for sure.
Wow...in your meager 17 years on this earth, you have managed to become quite omniscient. When did you spend time there before the US occupation? How long? What do you remember most? I think it is not "omniscient" but "empathetic"; being able to imagine what it would be like with a foreign invading army in your town, taking all the farming profits and doing the things young guys with guns and uniforms are likely to do. Imagine the thousands of people who would answer with "yes, I was better off when my family was alive". However, empathy requires thought, something generally discouraged in political propaganda from all sides. |
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Is socialism even compatible with bitcoins? I doubt it.
Why not? You mean I can't pay for my library fees or public transportation with BTC? Anyway the reason I posted was because it might be interesting for the community to see how advanced some of the "alternative" currency economies are in S. America. And yes "The other economy already exists" made me think of BTC  |
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Very good points, especially from wisdomtool.
I think we will see it happen. Not just anyone can write and launch the code for a botnet. These things tend to be done in the developing world where they are less easily caught by Western authorities.
Your typical criminal gang in the West may not want to risk getting tracked like that. They prefer to stay further under the radar. Furthermore, they may lack the contacts if they don't have the programming expertise.
Your average Joe has no idea how to set up a mining rig but it's a damn site easier learning curve to do it than to program a botnet.
And given the potential profits from it, perhaps it won't be long before we see it happen.
Can any growers give an idea of the yield from a grow on a space basis? Doesn't each plant give a few ounces or something? And how much could that be sold for if you wanted to get rid of your crop quickly and not sell it in small amounts?
Has to do with a lot of things...plant number, who is growing it...but I have heard it's mostly dependent on number of lights. Most indoor people I have heard say 1lb/1000w light is doing good. There are so many variables though...type of setup, care, fertilizer...the list continues. One power outage at the right time throws off your light cycle and can ruin a whole crop. Insect control is a major issue also. Smell, humidity, heat...sounds like a total nightmare to me. Then you have to sell it too...not worth my time. I know many people who have tried for years and nobody is rich (or even well off) yet. Seriously? Then you don't know many people. Its the #1 cash crop in all 50 states. |
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You have no means or resources to feed yourself off the land in a modern 1st world country.
You are also directly dependent on the oil, chemical and weapons industry unless you ride a bicycle, make your own medicine & protect your home yourself.
Well I am dependent on oil, and chemicals (thank you SR) .. but I thought everybody rode bicycles, made their own medicine and protected their homes? Seriously? You don't ride a bike? Don't take care of your own body? Don't protect your own house? Not sure what to say to that :S |
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freemoneyday.org You'll have to give it somebody else sorry, I'm not putting my BTC addy here  |
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have you actually read this bill?
the bill was to allow open competition for the united states reserve.
What is this "united states reserve" you speak of? The USA borrows money from the Federal Reserve, a private company. The USA gave control of the dollar away to them 98 years ago.
Fundamentalists like Ron Paul say things that sound great, but in reality if someone like Ron Paul or Sarah Palin comes into power you better be independently wealthy or your going to be completely screwed.
So how do you think those two politicians are alike? Never heard that comparison before, lol. Ron Paul wants to make it harder for people to rob you. How is that going to make you more screwed? The only people that will "screw" is those that want to take your money by inflating the money supply and not letting you have any alternatives. |
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Honestly, I wonder why some random miner from 2009 with 400k Bitcoin HASN'T sold everything. I think he's a fantastically huge idiot if he hasn't done so already. Seriously...being an early adopter is like finding a million dollars superglued to the sidewalk (gotta do a little thinking to get it off the sidewalk without destroying it, but you're a moron to let it sit there without doing anything about it).
Why would you sell for $4 million if you can potentially sell it for $40 million next year? Coz you're impatient, and scared. Why would you buy a 50$ on a 250 GB hard drive when it will get you a TB next year? |
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