And that's what puzzles me; why do they print millions of new notes, even if they lose value within few days (for example, I have 100 billion pengő banknote dated 04/29/1946 and 10 trillion one dated 05/24/1946 - that's one month only!)? If no one uses it anyway (I don't believe somebody would - it wasn't just possible to pay with earned money, when you got 500B one day and a week later a loaf of bread costs 2T!), why do governments continue to print over and over?
When $1B dollars buys a house you promise a soldier $1B, later it buys a coffee, but you don't have it anyway. Print........ |
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Actually priority is higher for larger tx which means that in order to get the same priority are a larger tx a smaller tx needs a larger fee. This is not hard coded it's just the default rule and is in place to reduce spam. I don't think it needs to be like that (some tiny min fee (as optional miner rule, not forced) will disincentivize spam just fine) and it will change in the future.
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You can make a system like that, and even call it Bitcoin, but it won't be Bitcoin and every instance of the Bitcoin software will know that and reject it.
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1Mh contributes on average 1% as much as 100Mh. So, yes, you would be helping.
If you don't like the unsteady results you can join a pool, but it really isn't worth it using a CPU.
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After every blow job there is a period of defellatio.
Yes, but I'm talking about LONGTERM defellatio. |
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What are you going to do about the early adopters of the new fork? The early adopters of the new fork won't have any huge advantage, as there are already lots of miners which prevent you from cheaply mining coins. After all, the block chain is exactly the same - just the "starting point" changes. Of course, there are still some small advantages for the early adopters to make the fork more attractive, such as the arbitrage-possibility due to the difference between old and new coin prices. However, compared to the current system, where some individuals own a significant amount of the market, the advantages of early adopters in this new scheme are nearly irrelevant. You will let us know as soon as you open it right? It's so easy to do I suspect you already have and are just loading up on diff 1 coins. |
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Yeah, Reuters has missed every bubble from the 90's tech stocks, dot.com, housing, mortgage debt., CDO's, corporate debt, etc and yet they are genius enough to understand bitcoin AND call a bubble .... ha!
It really is hilarious. The Death Star Bubble is bearing down on them and they point to this little thing and scream "BUBBLE". |
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According to Urbandictionary.com defellatio is "While a male receives head, something is done to make his erection disappear". This definition is not useful. Now I can't find a link, but according to Mises.org defellatio is "An increase in blowjobs today at the expense of blowjobs in the future."
I think this points to an overlooked weakness of the Bitcoin System. It will suffer from major defellatio. This is bad by anyone's definition.
Suppose you give blowjobs. Of course you get paid for them. But if you take bitcoin as payment you will get fewer and fewer bitcoins/blowjob over time. If you are rational (and I know you are) then you will do ALL of your blowjobs today leaving very few (or none!) for future days. Some people might suggest that this is not a problem, but I suspect that they just don't understand how important blowjobs are.
I'm here to solve this problem, but actually I don't think it can be solved and the Bitcoin System is going to shrivel up.
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I don't know why but them closing the thread is why I am here  Welcome. Stopping discussion is such a silly strategy. |
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Thank god nobody got hurt... plenty of videos of over-zealous police on pot raids going in guns blazin.
I wonder how that went? "Sir, what is this contraption with 8 video cards sticking out of it?"
"It's going to eat your monetary syst-I mean I like to play video games." |
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Ahahaha, I hope that is what they are worried about. That's hilarious. |
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You can try whatever you want. But something like bitcoin with an entity that excludes people is not anything like bitcoin at all.
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We've actually been discussing a similar idea in our secret 'EA' forum. We don't think it's fair that all these new people are coming in after we took a risk on an essentially useless pretend currency. Newcomers have a much more stable market, more help, more services, a larger community, etc. Not to mention free open source GPU software when we had to use slow inefficient CPUs. So we're going to implement something called reverse demurrage. We signed each other's wallets with our 'EA' keys that Satoshi issued and only coins in these wallets will be free of reverse demurrage. Reverse demurrage means that your coins will be shrunk in transit. We're going to try a 5% rev-dem rate at first, but it'll probably have to be increased as we foresee more and more people coming in with ever faster hardware and ever more assurance of value. Please don't be surprised if we decide to switch to multiple reverse demurrage which will decrease your coins over and over as they pass through our nodes. But at least we're not trying to fork you.
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What if someone bought up all the US Dollars?
What if someone bought up all the 6990s?
What if someone bought up all the air?
And what if someone bought all the inches!?! |
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How does one come to a conclusion that inequality is good is beyond me
You.Will.Be.Assimilated.Earthling |
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I find it hilarious that the gender ratio for this forum is more male than even internet pornography viewership (72% male).
Pornviewing by time has to be more that 72% male. |
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Update: the market has spoken with deafening silence..  I'll be putting together a web interface in response. Requests? That's what I'm waiting for I figure maybe I could learn to use it as is, but there won't be enough trading partners until it is easy, so might as well wait. |
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If a community has a shortage of cash, ripplepay.com is an excellent barter/credit exchange if there are no shortage of goods nor talents. Don't know about the anonymity you require though, because is a reputation system where your credibility means everything.
How can this be? Are they running out of pennies? |
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I dont disagree with you guys. And I myself working full time in the IT industry just find it a bit to much, even for me. I know the person living next door most likely works in a corner shop, which would make BitCoins impossible to pitch to such a person. I am just looking for clarity. But definitely a project that is interesting and I will keep reading and probably getting it all much clearer once I get my hands on some BitCoins. Learning curve, all very interesting, but I just dont think the rest of the world would look the same way on this.
If you really want to talk this with people who don't care to learn economics, just say: "Yes, if everyone prefers dollars over bitcoins then someone could theoretically buy them all. This isn't a reason to stay away since you can insist on being made fabulously wealthy before you'll give up your last coins." "No, deflation makes your coins more valuable. Back them up." |
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