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3262
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Economy / Economics / Re: no one gets rich without help
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on: October 03, 2011, 02:38:10 AM
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Money is indeed the commodity that is the exception to the marginal law of utility because people always want more of it so they can use it to get more of the things they want.
What? This is just wrong. You think you would want 1 more dollar just as much when you had a million as when you had 2? edit: sorry, I assume you mean law of diminishing marginal utility. |
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3263
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Bitcoin / Bitcoin Discussion / Re: please review my reasoning
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on: September 29, 2011, 10:17:51 PM
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Seems like some confusion here.
If you mean stealing someones keys (which are not in the chain btw) then age doesn't matter. All that matters is how they are secured.
If you are talking about stealing back coins that you previously owned and spent by rewritting a block to remove the spend, then is requires more and more work as time goes on. But it is pretty damn hard after one confirm since you have to either get lucky and find 2 blocks before the whole world finds 1 or you have to be very powerful (more powerful than the whole world) and need no luck. In that case the depth of the transaction you want to undo just determined how long it will take on average.
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3264
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Bitcoin / Bitcoin Discussion / Re: whitehouse.gov petition to allow for competing currencies
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on: September 29, 2011, 07:05:51 PM
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I don't get it. Why do you need their permission, but they don't need yours?
They have guns, tanks, aircraft carriers, and thermonuclear weapons. I have nothing. Yeah, they got that shit from people obeying them all the time. Sucks now, but best to try not to support and strengthen them anymore imo. There is a reason they don't actually use that stuff on us all the time, it's not really all that profitable to do. |
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3267
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Economy / Economics / Re: no one gets rich without help
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on: September 29, 2011, 05:22:32 PM
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So they stole my parents stuff to make some crappy infrastructure in the wrong places and that is the justification for taking my stuff? Even if it wasn't mostly a subsidy for car manufacturers and large corps it wouldn't be them that I owe anyway, they are some oddly determined group who blows shit up and pays off anyone who might care to stop them.
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3268
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Bitcoin / Bitcoin Discussion / Re: "The Ethical Exchange" is Coming - Should General Bitcoin Users Trust It?
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on: September 28, 2011, 06:23:20 PM
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Lets see, "Bitcoin Users" will trust, en mass: 1) Magical Frenchmen in Japan with their bitcoins (single point of failure) 2) 17 year old Exchange operators (untested services) 3) Convicted financial frauds (no need to name names) 4) Unknown and anonymous sites with large amounts of digital assets (mybitcoin) 5) Phishing emails (mtgox/tradehills phishing victime) 6) This forum (cosbycoin anyone?) 7) Exploitable open source software (solidcoin, namecoin, geld whatever it is)  Over The Counter Ratings (seriously) 9) Paypal (many still use paypal for bitcoin transactions) 10) Any new item of the week Any questions? inorite, I heard some bitcoiners believe astrology too! That means bitcoiners are dumb and bitcoin is bad. |
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3270
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Economy / Gambling / Re: www.betwithbtc.com - A directory of Bitcoin gambling sites.
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on: September 28, 2011, 01:55:07 AM
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I'm certainly biased, but your top poker site doesn't take bitcoin wagers and bans a bunch of countries. Can you even play there to check it out? I can't.
That'd be us, right? Just to clarify: We only handle deposits and withdrawals in Bitcoin. It's true that bets and accounts are denominated in USD, but that's because we're taking on more payment options and we can't have everybody using different currencies. We're the only licensed, non-US casino accepting Bitcoin to date. And like most casinos, we've blocked players in the States in accordance with UIGEA and the Wire Act. You would too, if you knew what we know. We also have no professional relationship or agreement with GoWest -- not yet, at any rate, although I wouldn't rule it out because I like his style. But we didn't ask or pay for ranking on his site. He's a player. His affiliate link is for the same referral program we offer to every one of our 550+ current players. He's been a member of the site almost since we opened, and he's caught good bonuses and run up some solid wins more than once on the tables & slots. That's all there is to it from our POV. Yes, I'm sure there is a place for both of our styles. We're so different I guess we're hardly competitors. I do wish I could see your poker software. Do you ID people or just rely on IPs? |
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3271
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Bitcoin / Bitcoin Discussion / Re: Block 209999 - a short history of the Bitcoin civil war
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on: September 28, 2011, 01:43:04 AM
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I am both a miner and a merchant. I understand the benefit of the mining reward cut, and actually am LOOKING FORWARD to it. I would not mine with a pool that was trying to re-write the rules, and I think most pool operators get the logic as well.
When the block reward goes down, the price of bitcoin will probably rise. I personally do not think it will double, but it will cause real upward pressure.
Like the stock market, I believe the bitcoin market will 'anticipate' this change and the price of bitcoin will rise BEFORE that reward change arrives. There will be no huge spike at the point of change. Just my thoughts....
+1 to all that |
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3272
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Bitcoin / Bitcoin Discussion / Re: Block 209999 - a short history of the Bitcoin civil war
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on: September 28, 2011, 12:51:49 AM
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getting 50BTC for block 200000 is just as much part of bitcoin as getting 25BTC for block 300000. If you think miners will want to double the payout for future blocks why wouldn't they double their payment now? And why not 10, 100, 1000x? Maybe they understand that merchants provide 100% of the backing and won't accept non-Bitcoins?
Miners don't change the code I run. They can choose to mine bitcoins or something else, I'm only accepting bitcoins though.
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3275
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Economy / Economics / Re: Can you participate in this experiment?
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on: September 27, 2011, 08:03:38 PM
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I'm spending over 200/week. My job is to figure out how to get more for less, not how to burn through my capital faster.
If you want to increase bitcoin usage and value then do this. Take your relationships from the dollar world into the bitcoin world. Whenever you can meet one of your recurring needs with bitcoin move enough to cover that need for a long time into bitcoins.
The ultimate goal is income, savings and spending in bitcoins. And if it is forced and artificial then it won't last. Find ways to profit using this awesome new tool. Saving 3% from not having credit card fees is fine if you were already able to make a profit before, but most should be looking for huge new opportunities, things that weren't even possible before.
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3276
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Economy / Gambling / Re: www.betwithbtc.com - A directory of Bitcoin gambling sites.
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on: September 27, 2011, 05:08:54 PM
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lol @ your top picks. I mean, I get that you want to be paid, but at least do a little research.
No offense to my friends in the sports category, but there is only 1 btc sportsbook that has been open for over 9 months, listing more sports/leagues than anyone else, with a spotless track record of payment, and with 100s of btcs bet daily (see my sig). The site you listed would be lucky to do 2btc/day (if it was up, that is)
I don't need to pay anyone for links or whatever, but at least do a little research if you want any credibility.
The site has been up for less than 24hrs, and I'm sure there are some sites that I've missed, because before my site, there wasn't a good reference for Bitcoin gambling sites. I will add your site to my list. You'll notice that not all of my Top Rated sites have affiliate links, but I'm obviously going to use an affiliate link if there is one. Top Rated status is earned by having a quality site. Since the only other sports book is down, you will automatically have Top Rated status. Once the other site is back up, I will compare the two and determine if a change is required. I'm certainly biased, but your top poker site doesn't take bitcoin wagers and bans a bunch of countries. Can you even play there to check it out? I can't. |
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3277
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Bitcoin / Bitcoin Discussion / Re: FirstBits.com - remember and share Bitcoin addresses
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on: September 27, 2011, 05:06:17 PM
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"String required to differentiate an address from all addresses in the SAME and previous blocks" +1 from the peanut gallery. I had been searching for exactly such a case (I have seen some strange vanity addresses in the same block which might qualify). Are you aware of any real world cases on this ambiguity? Writing something that will find any/all. I definitely prefer the same or previous rule, but is it worth changing if it changes many FB? |
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3278
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Bitcoin / Bitcoin Discussion / Re: FirstBits.com - remember and share Bitcoin addresses
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on: September 27, 2011, 04:34:46 PM
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I assume you are calculating them independently?
yes, they should be fully compatible with firstbits.com though. Very cool, glad to have a separate implementation. One little possible wrinkle though. We have been ordering two transactions that would otherwise have the same firstbits if they were not in the same block according to their appearance in the block data (first to appear being first). We are investigating switching to giving them both the longer firstbits. An example: Block 1: 1asd1234567... Block 2: 1asd2fkkkgrt... 1asd2sqp434... Currently 1asd2fkkkgrt... would have FB of 1asd2 and 1asd2sqp434... would have FB of 1asd2s. It seems like it might be better to not need the extra rule of tiebreaking with order of appearance and instead to give each the FB as if the similar address came before. In this case giving 1asd2fkkkgrt... a FB of 1asd2f. It seems more elegant to use a rule of "String required to differentiate an address from all addresses in the SAME and previous blocks" and have nothing about order in the block. Very sorry for not addressing this before or publishing our exact code. Would like your input on this issue. |
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