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61  Other / Beginners & Help / Re: Why Bitcoin Fails as Currency of the Future on: July 03, 2011, 12:00:44 PM
First of all, there is no such thing as intrinsic value. Value is merely how much people want something. It is subjective. If bitcoin has no 'intrinsic' value, than neither does gold. Gold is not backed by anything. But why is gold valuable? Because people want it. Why do they want it? Because it is safe from sudden increases in supply that lower it's price. It is a store of value.

In the same way: bitcoin is not backed by anything. But why is it valuable? Because people want it. Why do they want it? Because it is safe from sudden and rapid increases in supply, and it works well as a medium of exchange in online transactions and general trade.
62  Other / Beginners & Help / Re: I can double your BTC - Proof! on: July 03, 2011, 11:55:16 AM
Ban.
63  Other / Politics & Society / Re: Join Civilization on: July 03, 2011, 09:56:47 AM
Glad to see the principle of voluntaryism gaining ground.
64  Economy / Economics / Re: Had a conversation with my Democrat friend today. on: July 03, 2011, 09:40:10 AM
Asking what is bitcoin backed by is like asking what is gold back by. Gold is not backed by anything. It doesn't need to be. And neither does bitcoin.
65  Other / Politics & Society / Re: To all of those who would feel oppressed in a Libertarian society... on: July 02, 2011, 05:41:52 PM
I don't give two shit whether I have subscribers or not.  As long as I've got more guns than you, I can make you do whatever I want.  That's the beauty of a lawless society.

If you have more guns than me, you can do that anyways, laws or no laws. Fortunately, there are more people that are decent and peaceful until provoked than there are megalomaniacs.

We need to commit violence against each other in order to protect us from violence against each other. Brilliant.


"Si vis pacem, para bellum"


In the lawless society, the man with the biggest gun rules.  We'll have to shoot out everything because there will be no centralized authority with a final say in disputes.

Wait, wouldn't the man with the biggest gun (governments today) be the centralized authority?

Good try though .
66  Other / Politics & Society / Re: Do libertarians support the idea of information as property? on: July 02, 2011, 04:29:15 PM
Information is non-scarce. When one gives it to another person, the originator still has it.

Information is non-rival. When you take it from someone, you do not deprive him of the ability to use that information.
67  Other / Politics & Society / Re: Your ideological evolution. on: July 01, 2011, 03:03:47 PM
I was always against tyranny. However, as a child I started liking communism because it promised 'social justice', with it's everybody gets what he needs, everybody produces what he can  infantile fantasies. After learning about democracy and republics, I believed in democracy, because everybody should have a right to vote, everybody should have a right to participate.

Then I began to realize the fallacies of democracy, that it is nothing more than a majority infringing the right of the minority, and moved slightly towards more republican views, such as constitutional government. This step opened the door to having civil rights and individual rights being of core importance in determining societal organization. Of course, after prioritizing individual rights, one can quickly see the contradictions of constitutional republican governments (read Frederic Bastiat: The Law). That let to espousing a minarchist limited government view. Government only when necessary.


Then logic and reason eventually guided me towards voluntaryism, that any action taken, anyone affected by that action must agree to that action as much as possible.
68  Other / Beginners & Help / Re: How did it all start? Who generated the genesis block? on: July 01, 2011, 01:54:11 PM
Is there something embedded in the genesis block that regulates difficulty? If not, then who decides difficulty, wouldn't a central authority (yikes) need to decide the difficulty level?

It seems so baffling to me, like asking where did the universe come from. But I'm intent on learning.
the client will not accept a block with a lower difficulty, then it takes to generate a block on avg. 10 min.
there will be on avg. 1 block per 10 min, at some difficulty. but if there are generated more blocks for 10 min. the clients will adjust the difficulty, so there will be generated a block per 10 min, again. if it takes more time the oppsite will happen: slow block generation -> lower difficulty.

hoped it helped Cheesy

Amazing.

But what guarantees everyone will use the same difficulty? How is the difficulty globalized?
69  Other / Beginners & Help / Re: How did it all start? Who generated the genesis block? on: July 01, 2011, 01:03:46 PM
You could very easily start by reading the bitcoin wiki http://en.wikipedia.org/wiki/Bitcoin

I already read that a few times, I'm asking a specific question about who made the genesis block, and how difficulty level is implemented.

70  Other / Beginners & Help / Re: When I sign a transaction with my private key, how is the network prevented from on: July 01, 2011, 12:58:19 PM
Ok now I understand the difference

But here comes another question: where is my private key? All I know is my public key. Who generated my keys?
The Bitcoin software makes them and puts them in your wallet. That's what all the hackers are after. The private keys in your wallet.

I understand now.

So what's the point of opening an account at mybitcoin?
71  Other / Beginners & Help / How did it all start? Who generated the genesis block? on: July 01, 2011, 12:36:38 PM
Is there something embedded in the genesis block that regulates difficulty? If not, then who decides difficulty, wouldn't a central authority (yikes) need to decide the difficulty level?

It seems so baffling to me, like asking where did the universe come from. But I'm intent on learning.
72  Other / Beginners & Help / Re: When I sign a transaction with my private key, how is the network prevented from on: July 01, 2011, 12:32:10 PM
Ok now I understand the difference

But here comes another question: where is my private key? All I know is my public key. Who generated my keys?
73  Other / Beginners & Help / Re: When I sign a transaction with my private key, how is the network prevented from on: June 30, 2011, 11:23:35 PM
Thanks. I'm obviously new to cryptography, and I'm a little overwhelmed by the amount of new info
74  Other / Beginners & Help / When I sign a transaction with my private key, how is the network prevented from on: June 30, 2011, 11:06:57 PM
When I sign a transaction with my private key, how is the network prevented from finding out my private key? How can it verify that I signed it without knowing the private key used to sign it?
75  Other / Beginners & Help / Re: Whitelist Requests (Want out of here?) on: June 29, 2011, 02:25:00 PM
I got to get out of this place
If it's the last thing I ever do


But seriously, I was lurking this place for atleast 4 hours before I decided to register. I figured out how to mine based on reading posts from this forum. I'm also interested in discussing economy, politics and society, particularly topics on voluntaryism.
76  Other / Beginners & Help / Re: What's your hash/s rate, what gpu\cpu are you using? on: June 28, 2011, 09:34:01 PM
oh wow I'm wasting my time then. You think I should try using my CPU instead (quad core 750 i5 @ 2.67 Ghz)? If so, what app?

I'm probably going to buy an ATi very soon anyway.
77  Other / Beginners & Help / What's your hash/s rate, what gpu\cpu are you using? on: June 28, 2011, 09:20:08 PM
I'm mining 9Mhash/s using an Nvidia 9600GT.

Is this optimal or could it be better? I'm using poclbm.exe to mine
78  Other / Beginners & Help / It's in its infancy. It is genius. It is the future, on: June 28, 2011, 09:11:26 PM
I just discovered this yesterday by accident, got interested in the concept, researched it some more, then when I understood the concept, I was shocked. SHOCKED. It is relatively simple yet genius. I spent all day today trying to figure out how to set it up, now I'm mining a solid 9Mhash / s. Is it normal to be this excited? This is practically history in the making. It is revolutionary.
79  Other / Beginners & Help / Re: I run Copleaks.com, we're taking bitcoin donations now. on: June 28, 2011, 09:06:22 PM
I came in here expecting a tinkle time porn website

80  Other / Beginners & Help / Re: All that "waste" of computing power... on: June 28, 2011, 08:55:26 PM
What you're ignoring is the cost savings with regards to coinage, minting, and currency storage of physical currencies.
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