Whoa there. Where are you getting information from? Gavin has not presented to the CIA and is not scheduled to until June. The Forbes article is already been out for a while magazines hit stands before their date. https://mtgox.com is working. |
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I think this is why many studied (but honest) economists have reservations about using commodities as a basis for a currency. If you have a benevolent central bank, if someone were to try and corner the market for a currency, the central bank can simply buy up assets (with newly printed currency) to maintain the price stability of the currency...when that someone later realizes the folly they're engaged in and begins to divest dollars, the central bank can sell assets and soak up the excess currency to again maintain price stability. But of course, this requires a central authority. The challenge is how to achieve similar stability without a central authority.
That really makes me wonder if it were possible to code a "bitcoin central bank" within the bitcoin protocol itself. This logic would respond to price data already freely visible in the block chain and make corresponding adjustments to the bitcoin total supply. I dunno if this is really a good idea in the end but it's interesting to think of it none the less. What are you talking about? There is no price data in the block chain. |
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The fact that supply does not respond to demand is what makes it an excellent money. Carrots, for example, won't ever hold much value beyond their costs of production because even if people mistakenly think that they are money and demand increases because of this the price will not stay up because new production is trivial. Gold is better because supply can only respond in a limited way. Bitcoin is built specifically to not have it's value harmed by increases in supply.
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I got root(2) for winning the most!
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It's all about psychology, 100 Bitcents sounds more even though it's exactly the same amount as 1 Bitcoin, so unconsciously you think that you make a better deal even though you're not.
By that line of reasoning, why say 100 Bitcents when you can say 100000000 Satoshis instead? Because 1000 is substantial and 100000000 is scary. Cents are tiny and worthless, use millies imo. Very much looking forward to shipping 3 mikes for a tasty beverage. |
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I just played my first pay game and got ~31100 the tx has 2 confirms, but I'm not listed at the bottom. How long should it take? For the deadline it's just when the game was completed right? Don't need a certain number of confirms before midnight?
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Game ID: 89dfd24c1745608f36fab43f106e7fda
I get a 10 A for 21 .. stand
Dealer has a 7 and draws a 7 for 14 after I stand and the game stopped there and said I won.
The dealer did not complete the draw to => 17 or bust.
Maybe because a BJ will beat any other 21, so he didn't bother? Hmm, guess he wouldn't need the second card either in that case. Except in this version (currently) the dealer doesn't have a hole card. The dealer only has 1 card showing then draws the rest of it's cards after the player stands. If I start off with blackjack then the dealer should play it's hand out to try to draw to a push. In this case it only drew one card for a total of 14 and did not meet the criteria of drawing to >=17. Ah, maybe it's like he does have a hole card, and the second card is just the 'hole' card being turned over to see and then there is no draw because you have BJ. |
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Parity ... it's gone baby gone.
.... we are more likely to see 10 before we see 1 again, my latest pick is for the next strong rally phase to take us in to the low 7s area ... unsure what will trigger that rally and how long it maybe away though, weeks or even months probably.
Pfah, any self respecting bitcoin rally is +200% at least. Parity would be insane, I don't think that happens again unless there is a tech issue or something. |
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What would happen if someone spammed the network with millions of transactions?
Reminds me of a similar question I'm mesmerizing about: Who sets the price of transactions? The network or the miners? If it's the miner, could an entity set up a massive supercomputer, mine most blocks and then set the transaction fees to 99%? When you send a tx you can add a fee, it's in the options on the newest version. Miners can then put the tx in a block and take the fee, or not, up to them. |
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It's very, very, very hard to get a lot of people to collude without cheating and with no enforcement.
"Oh sure, I'll only accept transactions with a fee of 1 BTC". Then accept anything over a bitcent.
This. And with the assumption that the cartel has only 50% you only need one guy to defect to break the strike. This is like the absolute worst environment for cartel behavior ever. Lots of participants, near perfect anonymity, very low barrier to entry. |
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Um, I was thinking of more like a .cz.cc adress becasue they are free for life. I have also seen the link you posted and it made me think of this.
Well if you have followed the thread related to that other game, you'll note the comments that say 0.5 is too expensive. If you do a tournament, please make it a bit cheaper like 0.05 or 0.1. Ultimately though my decision to enter/abstain will probably just depend on how fun the game is. It all depends though. .5 for a game that lasts 60 seconds is different than .5 for a 6 round tournament over a few days. |
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It costs .5 before each game that you want to count, right?
Correct. The practice version is just a free copy of the game so you can become familiar with it before playing in the tournament. The scores that are submitted for the practice are ignored. The 0.5 is admittedly a bit steep. I had published everything when btc was well below $3. The next round will be somewhere in the realm of 0.1 or lower to attract more competition  That's cool. I only thought it was steep before I realized I was going to win, now it seems reasonable  But yeah, lower might be better next time. Especially if the game has high volatility because then you'll need many entries to get your best score in there. lol..im assuming thats you with 32k...very nice score. I updated the page with the new leader(s). The jackpot's now @ 8.5btc (that last btc is waiting for 1conf before displaying in flash). I guess the scores are timestamped and you'll send payment after the time is up? Is that manual or will it just happen at midnight? |
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Game ID: 89dfd24c1745608f36fab43f106e7fda
I get a 10 A for 21 .. stand
Dealer has a 7 and draws a 7 for 14 after I stand and the game stopped there and said I won.
The dealer did not complete the draw to => 17 or bust.
Maybe because a BJ will beat any other 21, so he didn't bother? Hmm, guess he wouldn't need the second card either in that case. |
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It costs .5 before each game that you want to count, right?
Correct. The practice version is just a free copy of the game so you can become familiar with it before playing in the tournament. The scores that are submitted for the practice are ignored. The 0.5 is admittedly a bit steep. I had published everything when btc was well below $3. The next round will be somewhere in the realm of 0.1 or lower to attract more competition That's cool. I only thought it was steep before I realized I was going to win, now it seems reasonable But yeah, lower might be better next time. Especially if the game has high volatility because then you'll need many entries to get your best score in there. |
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And if price shoots to $10 are going to default and leave the $800 or are you going to cover it? |
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Freemoney and bitcool:
Will do 50 btc with each of you.
On silver spot price trading below 30 at least intraday before may 31, 2011.
Consider it booked. I just want to know what source you consider valid for this. I watch Kitco, don't know if that's lame or rigged or whatever. Wow, when silver was at 49 I thought I had a lock. Not so sure at all now! |
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I would like to see a tool that could split one wallet into two. One of the new wallets would contain all generated coins, and the other new wallet would contain everything else.
Wallet tools would be cool. Especially choosing which coin(s) to spend. |
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.01 is kind of a sucky amount to be handing out right now since a lot of small free tx aren't getting in quickly. Maybe do it like a sweepstakes? An entry for every friend who likes? There is already the faucet for getting people their first tiny amount anyway. Instawallet is freaking awesome btw.
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I've played like 50 hands with no problem, but now I can't see the card images. Reloading did not help neither did opening them in new window. I just get the broken image icons.
edit: Doh. Now it's down in the middle of my hand.
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