. . . But absolutely it's legitimate to be in the table of currencies . . .
Most here would agree with you that Bitcoin is a currency, but there may be room for discussion as to what the "base" unit is and what the relative value is of that base unit. If the "Satoshi" (the smallest integer unit of represented value in a transaction) is considered the base unit, then calling 1 BTC a "currency unit" would be like calling a Franklin (U.S. $100 bill) a "currency unit". They are both just names for a multiple of the base unit. If the "Satoshi" is the "currency unit", then it doesn't belong on that list. Yet.That list isn't showing the smallest unit of other currencies. It's a dumb page imo, and putting bitcoin at the top might be a good way to point that out, heh. |
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Hardcore Intrade addicts can also turn to the tiny prediction market Bets of Bitcoin, where some believe converting your dollars to the internet currency Bitcoin circumvents laws around commodity options because the site isn't using a government-recognized currency.
That's the wrong reason. The usefulness of bitcoin is that it is a censorship-resistant currency, not that it is an government unsanctioned currency. Fundamentally you are right, that is the real strength of Bitcoin. But while the censorable medium of the normal web is being used another benefit of Bitcoin is that government can't (or maybe just hasn't) recognized it for what it is. |
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I have already given a few out (secret santa office party) and intend on giving out more. Also, if you are Canadian, these blend in well in the strip club  I make sure one gets in each girls collection. It's also that time of year when the professional buskers are out playing xmas tunes and singing carols while trying to hawk their homemade cd ... if they are decent, ill drop one in the guitar case. Lol, I hope there are enough BTC enthusiasts in your office that you didn't reveal yourself. |
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I am aware that many contributors to this forum base some of their ideological positions on the fact that they have children.
I haven't really gathered that and I wouldn't say it's true for me. My philosophy certainly deeply affects my parenting, but not so much the other way. My philo changed a lot more in the 2 years before I had my first kid than in the years since. |
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I just glanced at the thread. This makes it all good imo:
4. The first person who pays the above address (as determined by the BlockChain.info first-seen
timestamp) is the person whose Bitcoins I am buying. If more than one person accepts the offer,
I reserve the right to choose to either give a refund or to perform the same transaction with the
additional parties.
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Someone must really need some USD right now, but can't because of all this low volume lol
Maybe we have different ideas of 'need' but there are over $800000 on offer above $10/coin so volume shouldn't be an issue. edit: at that one market... mtgux or something. |
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They ask "how much are you sending without fees"? I say there are no fees.
If someone asked "When are you going to prom without Cindy?" and you weren't going with Cindy how would you answer? |
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It means that Bitcoin is better than what you have to offer.
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Interesting. How will the blockchain tell you who sent first if it is a close call?
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Essentially frac reserve is just tricking people into temporarily thinking there are more coins than there are. That 'trick' is much less robust with Bitcoin than bank money because you can hold your own Bitcoin but not your own bank money. Whenever people notice that bitcoin is getting oddly easy to acquire they will hold the actual coins themselves, the frac banks will run out of actual funds and collapse, bitcoin will become harder and the people who kept the actual coins will prosper.
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So an attach on the quicker blockchain would succeed of fail more quickly but the probability of success for both chains would be equal, right?
Right. (When the number of confirmations is equal.) Another way to look at this: If the attacker does not have majority, he will find on average less blocks than the honest network. If the average thing always happened, he would always fail. Variance in the number of blocks works to his advantage, because he has a chance to be lucky and get more than the average number of blocks, enough to beat the network. Assuming a fixed (#blocks * avg. time), the smaller the avg. time, the more individual items are being tracked, and so (as is the case with these Poisson processes) the lower the relative variance, and the lower the chance to luck out. This is similar to how mining pools reduce variance by basing the reward on tracking the number of abundant shares, rather than the number of rare blocks. But assuming two networks with the same hash rate, a smaller avg. time causes reduced difficulty. This increases variance and counters this effect, no? It also seems more economical to try an attack on the chain with the lower difficulty, since the expected cost for one attempt is lower, but the expected return is realistically the same. Difficulty doesn't matter for the success of an attack. The attacker is racing the rest of miners. Imagine a magic network with no latency and difficulty so low that every hash made a valid bock. You could comfortably accept 1000 blocks or so with no risk of (lucky) double spend and it would take a microsecond or less. |
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minor problem happened this morning. The 10AM didn't go off due to the time was wrong. It was set for the time as 12/10/2012 and everyone was thinking it was today. Any change we could have it at noon possibly?
I got one up for 2pm ET. 2000 guarantee, 200 entry. I hope it isn't too late for you. |
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If its about the high amounts of transactions then why not make something like this:
up to 100btc per day 1 confirmation
up to 500btc per day 2 confs
...
When i think about... this hasnt to be per day... per hour is enough. Because after a hour you know if the previous transaction was fishy or not and you could allow more fast transactions.
Im not sure if highly verified users could help. I mean i can imagine that some people use voip-numbers, faked id and so on and then could misuse this.
But i think when its only about the height of transactions then small transactions doesnt need ultra high security.
That just sets up a scale for people to figure out how much they can get away with and calculate how long and how much capital it will take. The scale is already set up. There is some cost to unspending after 6 confirmations and you get an unlimited (Gox hot-wallet really) amount for the effort. It seems like allowing some little amount at 3 confirmations would let the vast majority through in half the time while not really exposing as much as the current 6 limit for huge amounts. In combination with all the KYC in place and per account limits based on current balance as was mentioned it could increase convenience without loss of security. I don't think Gox will ever, but others will. I don't use exchanges, who knows what other sites have in place? |
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It looks like finally the point is getting across that Bitcoin can be useful no matter what the exchange rate. That would be describing it as having intrinsic demand then, wouldn't it?  It has final demand, regardless of whether it is accepted for tax payment. Maybe he now sees the source of value, where this simply aren''t "worthless credits on your computer". This is quite a bit different take on Bitcoin from him since less than 60 days ago: Warren Mosler about Bitcoin - http://www.youtube.com/watch?v=m_NePQAODv0 - http://bitcointalk.org/index.php?topic=120087.0When old economists change their mind every 2 months you know the singularity is near. Center for Full Employment And Price Stability rofl, because prices aren't for transmitting information...  It might as well be "The Center for Preserving a Snapshot of Our Economy Forever" |
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Basically one side of the site would operate similar to satoshidice, after it reached 2/2 it would send back
to its players, and for the customizing part you would create an account, and make your own games
with the stats.
I am just suggesting things that would increase popularity.
That would change the expected return due to transaction fees. Would make the "Play without house edge!" kinda unreal, not that the house keeps the edge, but the miners. Lol, so if a casino opened that charged nothing and even put an ATM in the lobby would you be like "Whoa whoa, that ATM will charge you $3, no house edge my ass". |
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Can you comment on why it has been down so often? Is it a backend process that is crashing? A problem with the hosting company? Something else?
This was a software problem. |
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We'll be back in 10-15 minutes. Very sorry for the delay.
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"move" is a command for shifting balance from one bitcoin 'account' to another. I don't know the answer to the question. I would guess you should log it elsewhere regardless.
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