Businesses depend on loans because they are artificially so cheap right now. It would be like if there was an enormous subsidy for blankets for a decade. Everyone would find all kinds of ways to blankets because they were practically free. Ending the subsidy and making people pay whatever the right cost is for blankets is clearly the right thing to do even if it shakes up business practices for a while.

There is nothing wrong and plenty of things right with people needing to earn before they spend. The flip side of expensive borrowing is that you get very high interest in real terms for working and saving a while before you spend.

Instead of grinding away at a job for decades and having your savings devalued you work harder and spend less up front and in a year you have plenty of capital to get started.

It should also be noted that the bitcoin economy is not in a steady state. Right now the best play by far is to convert old economy assets to bitcoin. Later when most are in the bitcoin economy this explosion will be over and the new profit will be picking things that appreciate faster than the general economy which means committing some coins to stuff.

The coins should be there when you load in the backup and rescan. Doesn't really matter how old.

Congress doesn't do fast trillion dollar bailouts? Since when?

Deflationary bank runs are for real money. You can say that what is coming won't be technically a bank run, I guess I would agree, but it sure as hell won't be deflationary.

Because of the FDIC the next bank run will be different. It won't be a mad dash to get dollars, we can get those for sure. It'll be a dash to get value for our dollars. There is and can be no guarantee on that. I suspect people who have no more room for cans of beans and toilet paper will try to get some of their wealth through the crisis in gold and bitcoin.

That's not the first question.

Bitcoin is a money, you can get it from anyone who has it by doing anything they value. One extra way to get coins is mining which secures the network. Miner get paid new coins. Do not mine with a CPU it is just a waste now because GPUs are so much more efficient. If you aren't interested in computer hardware then don't bother mining, I don't.

You don't need to worry about mining if you don't want to. It's how we buy security for our network. The miners process transactions and get paid new coins.

The devaluation itself wouldn't pay the debt, the trilllions of dollars will still need to be handed over.

It isn't like this is free either. Defaulting like this costs the powers their money faucet. Hyperinflation may happen, but it won't be because they prefer it.

Is a receipt enough? Won't you also need to show that you never withdrew the coins in order to prove you were actually stolen from?

You say he lost them, but surely it's not final. How long has he been trying to contact Tom?

Something is going on, but I don't think he's stealing random accounts or that this will never be resolved.

I was able to access my account and withdraw funds tonight.

I guess 5 people are confused or never intend to sell.

Another cool effect is that you'll actually be able to get faster service with a higher fee even once the fee you were going to pay guarantees inclusion. If you pay .001 you'll get in for sure, but if you pay .1 maybe you'll make the difference for 10000 miners and decrease your expected wait by 30 seconds. There probably will be some roughly known point at which all available hashing power is on and extra won't help or at least give greatly diminishing returns. So watching the basket of fees will be part of excellent fee strategy.

How about in 140 years? Do you think people will mine if they get 0BTC for finding a block? Or maybe they'll wait until there is a fee offered causing the effect the Atheros is talking about.

Um, it is not perfectly stable and anyone reasonable looks both short and long term. Are you missing the point of the original post?

Is 10k supposed to be a lot? One market does many times this every day. If someone wants to get less money by selling in 1 minute instead of 4 hours all the better for buyers. Also people who are prone to selling 10k coins at a time likely would have sold them at $1, $2, $4, $8, $15, or $30. Since they declined to sell a single one of their remaining coins you can probably chill out.

So how does this work, am I supposed to wait a while after my pump posts to sell or do I do it right away?

Should be clients only. Afaik you can't tell if a client is mining and you could mine on 10000 machines and only appear as one node.

I think it says somewhere that this is fine. Look around the site.

Merchants aren't going to jump right in on first hearing, but they (some at least) do listen to what customers are asking for. I would be careful not to push anything even 1 second beyond what people want to hear. Just say "Have you thought about accepting Bitcoins?". If they are interested they will ask more, if not it'll just sit in their minds for next time someone asks or they hear it on NPR.

This is great. I got chills back when I first realized. I think we'll start to notice it to a small degree in 10 years when 6.25 is the base reward. The free electricity people won't stop, but a good number of people will and we'll be able to see it in slightly more even times between blocks.

Actually, it probably depends on what it does to hardware to change the load on it constantly. If that's bad for hardware then we probably won't notice it for longer.

Secondary uses for hashing power will influence things too. Even if you have free electricity you might switch between bitcoin and namecoin based on the accumulated fees waiting on each.

It's the same as Bitcoin in that sense. You don't have to have the chain to use Bitcoin or FirstBits, but you can, and that's what will keep the data providers honest.

You mean if there is a mistake? The coins would be gone.