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Can I make a request? Can we quit it with the random people posting only a screenshot of the MtGox chart with some arrows and BUY written on it?
That is not technical analysis, that is you projecting your desires for the future of Bitcoin.
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No, everybody is trying to find a block that can be validly connected to the previous one. When someone else finds that block before you, you try to find one that can be connected to theirs instead.
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Well, deepbit is stating >500Ghash/s, whereas slush's pool is at around 180Ghash/s. They should be finding 3x as many blocks as we are. Combine that with an unlucky round, and you've got a five hour round. Can a well timed DDOS kill a pool?  |
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Haha. the economy will act like any uncontrolled complex system: it’ll go crazy Just like the universe and all of the earth's ecosystems! |
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Wait, you blocked him... in what sense?
You're not going to use Bitcoin anymore, since he is the primary developer?
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Dunno. Looks to me it's easy to counterfeit bitbills.
Could you explain how you believe you could do so? |
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Difficulty will decrease a lot [citation needed] This seems to assume that most of the network's power will come from dedicated miners who are operating just above profitability. I don't see any reason to believe that this will be the case. |
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I like the cut of your jib.
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I think wireless mesh networks would be the thing, if we were to temporarily or permanently lose access to internet infrastructure.
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Wouldn't it be pretty obvious that someone put a sticker over the public key code?
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Seems like a bit of a stretch to claim that a state of mind is a public good.
Why? It translates to the payment of actual fees. If miners self-interestedly accept all profitable transactions that willingness will fall through the floor and with it the actual fees. That's normal competition and how all market prices work. If fees fall, mining will become less profitable, some miners will stop mining, difficulty will decrease, and mining will become more profitable. So? |
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And nobody claims they are. Which brings us to the miner common: the willingness of users to pay substantial fees. Seems like a bit of a stretch to claim that a state of mind is a public good. |
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Nope. Think of each hash as playing a lottery ticket with a (difficulty * 2^48 / 0xffff) chance of winning.
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Um, how the heck are we supposed to chart this thing when one guy with a fat wallet can wreak havoc on the price? We need more people trading to level out the influence and psychological factors.
It will happen with time. Then again maybe it won't.  Maybe once GLBSE matures and they offer option contracts. |
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In Satoshi's paper he suggests escrow services for the protection of buyers, but as far as what I've read of Clearcoin it seems Clearcoin is currently unfair to the buyer? If it's unfair to anyone, which I don't think it is, it's unfair to the intended bitcoin recipient. The bitcoin sender can claim that they never received the item and withhold payment. What ClearCoin does is provide a disincentive for them to do so. They either have to wait a set amount of time before reclaiming their escrow payment, or it will be sent to a charity. If the recipient doesn't trust the sender at all, they can request the latter option, which provides the strongest incentive to honesty. |
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It also has the perverse outcome of removing bitcoins from the economy in case they are lost or destroyed, which is easily mitigated in the digital form by the current ability to easily back up and make copies of wallet files.
I think that completely physical bitcoin tokens will comprise an insignificant portion of the 2,100,000,000,000,000 total base units (satoshis). |
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We will have to see how the analogy really pans out, but it will be interesting to see a digital gold rush or coin rush rather.
Nice. Gold has been considered valuable for thousands of years, and obviously it's always been mined purely because it was considered valuable. Bitcoins on the other hand started out as a political movement, and still largely is.
The statements "gold is valuable" and "gold is money" are not equivalent. Diamonds are valuable, but they are not money. |
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My prediction is that at first, people will probably redeem them soon after receiving them. Once Bitcoin becomes more widely known, this or something like it could become more widely traded, I think.
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