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1781  Bitcoin / Bitcoin Discussion / Re: Ron Paul cool with bitcoins on: August 26, 2013, 07:56:18 PM
Paul SHOULD be the president next but WON'T be without being assassinated or votes manipulated just because he stands for the right things. Just like all the other presidents of the countries who didn't like to cooperate with US corporations to create US monopolies long term in different sectors.

http://en.wikipedia.org/wiki/Theodore_Roosevelt
1782  Economy / Speculation / Re: Date for 12.5 BTC per Block - autmn 2015 on: August 26, 2013, 07:52:37 PM
Simple calculation has shown that next reward splitting will be more than year before mathematically expected.

Calculated date based on current numbers  is: Saturday, 12 September 2015.


Hopefully there will be less miners and difficult will be lower.

Even if there would be less miners, technology (e.g. better mining chips) is going to increase difficulty.
It is very unlikely that we will see a lower difficulty any time soon.

Depends on price.  If the bears get their wish and we really capitulate hard, we could see a temporary dip in difficulty a few months out.  Non refundable preorders may smooth it out though.
1783  Economy / Speculation / Re: Bitcoin Foundation to meet US authorities. on: August 26, 2013, 07:37:35 PM
By sending almost only law enforcement agencies, they clearly show how they classify the topic.

The executive branch sole purpose is law enforcement/enactment.  It would be good to see some congress critters invited though.
1784  Economy / Speculation / Re: The REAL bubbles on: August 26, 2013, 03:39:20 AM
Paranoid much?

So you're claiming there aren't more countries with nukes than a few decades ago?  Sure, overall numbers are down, but the number of countries capable of destroying a continent has increased.
1785  Economy / Speculation / Re: The REAL bubbles on: August 26, 2013, 12:47:45 AM
The system requires perpetual economic growth. This is not possible, even at a rate of 0.01%, unless the universe expands at least as fast and we are capable of occupying every empty space.fn1


nothing grows forever. then the void consumes it all.  Cheesy Cheesy Cheesy

-a parable, by sir Walz


1 see: the magic of compound interest

It only requires exponential growth if loans are expected to be paid back.

lulz

ps, economy must grow. loans must grow to make possible. difficulty in repayment will scale with increasing loans.

People accept the default of other people, deal with it. That includes banks and central banks.

Competition among nation-states guarantees an unrelenting drive to grow perpetually. This is unsustainable and economic suicide. Refusing to participate in this unhealthy competition among nations is also suicide, as the winners indirectly oppress and devastate the non-participant's economies.

The goal of every viable economy is to endlessly harm itself just enough restart the growth machine. See Orwell's 1984 plz.

deal with it. i am right, you are wrong.

Just like nuclear war is inevitable, and nuclear proliferation won't happen, the cold war gonna kill you all.

Wait, nuclear stockpiles are decreasing dispersing since over a decade? Unfathomable! Grin

FTFY
1786  Economy / Speculation / Re: Peak Watch on: August 25, 2013, 09:40:19 PM
IMO the peaks before July are of little relevance to future price developments.
The important ones are 104 on July 11st, 111 on July 31st and this last one of 125 on August 21st.
I may be off with a day or two, just estimated the dates from the charts.
What's important is that those peaks belong to Elliot waves 1, 3 and 5.
Unless some miracle happens and the price rises again soon above 125, we're now in bear market.


the base of what I hear
on board called speculation
is greed and naked fear
not sober calculation


 Grin
1787  Bitcoin / Pools / Re: [7000GH/s] p2pool: Decentralized, DoS-resistant, Hop-Proof pool on: August 23, 2013, 06:28:45 PM
Which, for a low rate, low payout miner is what increasing your difficulty will accomplish.  When you are averaging near just a few shares in the window there will be some blocks when you just don't have any shares in the window. If you up the difficulty there will be more (of course, on average you'll still end up with a fair payout, just higher variance with bigger quanta).  Since the difficulty can be set dynamically you could even mine higher diff while you had no shares in the window... and lower when you did. (I think on LTC it does this by default).

That's something I don't get: how voluntarily increasing your difficulty will help you.

Wouldn't you want to claim as many shares as possible, even if they are small amounts?

Since each share you find increases your payout allocation within p2pool's 8640-share window, it should always be beneficial to add more shares, right?

It seems to me that all you would be doing by increasing your difficulty would be to forfeit some potential earnings from weak shares, by throwing those shares away instead of submitting them to the sharechain, unless there's something I'm missing.

Maybe if p2pool is CPU limited, or you're running remote miners that are network-limited between them and p2pool, and you have so many miners that you're constantly spamming p2pool with 1-difficulty shares, that might make a difference.  In that case, wouldn't it just be better to voluntarily increase your difficulty to something that is still well below the minimum required for a valid share (perhaps a difficulty of 1000 or so), which would cut down traffic dramatically from your miners, but still allow you to claim every share in the sharechain that you are entitled to?  Or, am I missing something here?

Josh


You will get paid more for the higher difficulty shares.  It will reduce your bandwidth usage if you are putting out a lot of hash power.
1788  Bitcoin / Bitcoin Discussion / Re: 100% Bitcoin will be denied on: August 23, 2013, 06:14:46 PM
But US got the strength (army guns knowlage)... Pretend you are in grade school and there is no teachers, who is the boss ? Biggest guys leads and if you dont want to follow them you get hit until you change your mind. Do not forget this

How many guns does it take to destroy the Bitcoin code?

How many wars has the US lost? Think a civil war against the government would be any prettier?

Nobody wins wars.  The US has only created more enemies for themselves.
1789  Economy / Speculation / Re: Peak Watch on: August 23, 2013, 06:06:30 PM
IMO the peaks before July are of little relevance to future price developments.
The important ones are 104 on July 11st, 111 on July 31st and this last one of 125 on August 21st.
I may be off with a day or two, just estimated the dates from the charts.
What's important is that those peaks belong to Elliot waves 1, 3 and 5.
Unless some miracle happens and the price rises again soon above 125, we're now in bear market.


Maybe, if you fixate on a single indicator it can fit any number of scenarios.

Can't ignore horizontal support and resistance, momentum.

+1

EW can be useful, but it should only be one piece of the puzzle.
1790  Other / Archival / Re: Pictures of your mining rigs! on: August 23, 2013, 06:05:17 PM
For all those saying BE+ cardboard is bad.. you do know that cardboard does not combustion till 450f+? if your BE;s get that hot you have bigger things to worry about.

Strictly correct, but its actually 427 Celcius http://www.answerbag.com/q_view/2015404

... and all because of a minor error by Ray Bradbury (great writer though)

[FlameBait] Now when are you USians going to join the modern age and start using sensible units? [/FlameBait]

Anybody in science and engineering would like to, but politicians don't want to upset the less intelligent people.  Change scares them.
1791  Bitcoin / Bitcoin Discussion / Re: 100,000 votes on Dropbox website and counting! bitcoin adoption imminent? on: August 23, 2013, 04:24:00 PM
This thing is still going on? Ha ha.

Yes.  Clearly Dropbox doesn't give a shit about us.
1792  Economy / Economics / Re: Can we call it MAINSTREAM? Here's why... on: August 23, 2013, 04:22:45 PM
Mainstream awareness. Not mainstream use.

This.
1793  Economy / Speculation / Re: Peak Watch on: August 23, 2013, 04:08:36 PM
IMO the peaks before July are of little relevance to future price developments.
The important ones are 104 on July 11st, 111 on July 31st and this last one of 125 on August 21st.
I may be off with a day or two, just estimated the dates from the charts.
What's important is that those peaks belong to Elliot waves 1, 3 and 5.
Unless some miracle happens and the price rises again soon above 125, we're now in bear market.


Or just a 3 wave correction.  Sure, short - mid term bear, but I don't see any signs of a major, long term top.  5 waves up indicates the one larger trend is still up.  If we do get 5 waves down on the same timescale as the 5 up, then I'll have to reconsider.
1794  Economy / Speculation / Re: How is the value of bitcoin calculated on: August 23, 2013, 03:32:25 PM
When people talk about exchanges manipulating the price to make $, they are talking about something a lot more subtle than that.  

Basically let's say the current price of BTC is 89, so there are sellers on the exchange willing to sell at prices between 90-110.  Now someone makes a big buy.  The exchange "sees" the big buy and knows it will drive the price to 105 so it quickly injects its own purchase to grab all coins for sale from 90-91 (for example).  Next, it lets the large buy through and so the price of BTC rises to 105.  Buyers see this move but they still want coins so they increase their bids up to 100.  So the exchange got coins at 90 and can now slowly unload them at around 100.  Or wait for a big seller and do the same thing in the other direction.  This is called "front-running" the market.

But as you can see the exchange is not really able to set or manipulate the price; it can only grab a bit of dishonest profit for themselves by reacting to early information about other people's buy/sell action.  Who loses?  Well, the buyer got cheated a little; he was expecting some coins at 90 but his lowest coin purchase was 91.

Do you mean like market making bots with tiered order books?.... Like the big boys in Wallstreet?  You're right.  That would be terrible.

Not just bots which anybody runs, bot run by the exchange itself which respond to orders before placing them on the exchange. Sort of an insider knowledge of upcoming trades giving them an unfair advantage.

This seems rather paranoid, but there is little you could do to prove it was happening.

The bots on wall street still have access to retail orders before they hit the official books.  There is no functional difference from what you are describing.  It is just that the wall street exchanges have covered their ass by just selling access to the data rather than operating the bots themselves.
1795  Bitcoin / Bitcoin Discussion / Re: Ron Paul cool with bitcoins on: August 23, 2013, 02:30:33 AM
So, there are two possible representations of one single object.

That was kind of my point.

So, you are Ron Paul?
1796  Bitcoin / Bitcoin Discussion / Re: Ron Paul cool with bitcoins on: August 23, 2013, 02:28:36 AM
How is that related to the price of Bitcoin?

Either way is Ron Paul still a thing?

He has more effect on price than you.....

Like in a sense of positive zero being larger than negative zero?

Positive zero and negative zero don't exist.

Tell that to the guys who came up with floating point in computers.

For 0, the sign bit is supposed to be ignored.
http://en.wikipedia.org/wiki/Signed_zero
Quote
The number 0 is usually encoded as +0, but can be represented by either +0 or −0.

So, there are two possible representations of one single object.
1797  Bitcoin / Bitcoin Discussion / Re: Ron Paul cool with bitcoins on: August 23, 2013, 02:12:30 AM
Too bad the moderator of this sub forum is also a troll.

http://www.youtube.com/watch?v=o1tj2zJ2Wvg
1798  Bitcoin / Bitcoin Discussion / Re: Ron Paul cool with bitcoins on: August 23, 2013, 02:10:02 AM
How is that related to the price of Bitcoin?

Either way is Ron Paul still a thing?

He has more effect on price than you.....

Like in a sense of positive zero being larger than negative zero?

Positive zero and negative zero don't exist.
1799  Economy / Speculation / Re: How is the value of bitcoin calculated on: August 23, 2013, 02:04:56 AM
When people talk about exchanges manipulating the price to make $, they are talking about something a lot more subtle than that. 

Basically let's say the current price of BTC is 89, so there are sellers on the exchange willing to sell at prices between 90-110.  Now someone makes a big buy.  The exchange "sees" the big buy and knows it will drive the price to 105 so it quickly injects its own purchase to grab all coins for sale from 90-91 (for example).  Next, it lets the large buy through and so the price of BTC rises to 105.  Buyers see this move but they still want coins so they increase their bids up to 100.  So the exchange got coins at 90 and can now slowly unload them at around 100.  Or wait for a big seller and do the same thing in the other direction.  This is called "front-running" the market.

But as you can see the exchange is not really able to set or manipulate the price; it can only grab a bit of dishonest profit for themselves by reacting to early information about other people's buy/sell action.  Who loses?  Well, the buyer got cheated a little; he was expecting some coins at 90 but his lowest coin purchase was 91.

Do you mean like market making bots with tiered order books?.... Like the big boys in Wallstreet?  You're right.  That would be terrible.
1800  Economy / Speculation / Re: How is the value of bitcoin calculated on: August 23, 2013, 01:13:16 AM
Is it just by exchanges who change the prices based on how much money they want to make? This is one thing I am concerned about bitcoin by. How is the value calculated?

That's an interesting question. I think the exchange price is a mix of supply/demand and psychology

Fiat money worth nothing because it cost nothing to make, but they do worth something on the exchange because there is a supply and demand balance, and that supply and demand balance is maintained by a psychology. If all the people would lose the confidence of a currency and start to convert them to physical goods, the supply and demand balance will be broken and it will lose most of its value quickly

Fiat money costs future money.
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