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I'll tell you his method (for free).
Troll around looking for suckers, offer to tell them how to get tons of bitcoins for a price, get $$ upfront.
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The majority of start-ups fail. It's become standard practice around here to cry "scam" any time users lose money, but plenty of those losses can be attributed as much to incompetence as they can to outright fraud.
Would you start a buisiness if you didn't know what you're doing. Hm? Why would you start a buisiness if you cannot be of service. . This is getting off topic, but I think the answer is "because you think you know what you are doing". |
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Law enforcement could use this to mark addresses like they mark bank notes, preventing the need for a central database.
Yeah, governments hate centralization and usually volunteer to make information about ongoing investigations public. |
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Printing money and give it to everyone at the same time seems will lift the price of every thing, but that is not exactly true either, since some people will save some of that extra income
Surely some people will save more, but on the whole people will flee from saving in a unit that is being debauched. Unless it can be done in a way that gives credibility to the notion that it will not be done again (highly unlikely) prices will rise by more than the increase in the supply. The existence (or lack of) of alternatives is an enormous factor as well. |
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For anyone who thinks this would not be harmful, what is the problem (if any) with giving $10000 or $100000/mo?
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If the coins appear in your wallet and remain there after six confirmations, they can never be taken away.
They can. However, the more confirmations you have, the less possibility of this happening. Every 'confirmation' adds a level of security to the transaction, and a massive amount of resources would be needed to turn back each transaction. For daily uses and moderate transactions - say 1000 BTC and below - 1-2 confirmations are what you'll only probably need. Statistically, the Sun is more likely to "turn off" tomorrow than such an event happening. For all practical purposes and intents, no one can scam people after six confirmations. This is why I feel justified in saying, with near absolute certainty, "those coins can never be taken". If you do not believe this is true, you should not be using Bitcoin. It's not true. If some entity has more hashing power than all honest miners they can eventually catch up from any number of blocks. It is no where near the level of "sun turning off". |
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bigger edge than satoshidice
-.-
Good luck.
Indeed, I don't see why someone would want to lose more on average playing with lower maxes at a newer site. The affiliate and custom addresses are somewhat innovative, but still why would someone play? Perhaps you think you can reach people who haven't heard of SD? That doesn't seem likely. The future is lower house edges. |
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Same, one country can stop BTC, but they also miss the big opportunity brought by this new medium of exchange, and who knows the first country who officially supported BTC (Iceland) will become a robust country in finance since it got rid of banks' control
What does that mean? Cite it? |
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Are you sure that you want to rely on blockchain.info? It's probably fine if you plan to stay small, but otherwise you should set up your own node and get the information you need from it. Either way it shouldn't be that hard. I'm not looking for work and I'm not that experienced but I did recently write something that used blockchain's api, so I can maybe answer a question or send a bit of my code.
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so is someone ddosing seals or what? hope it gets fixed in time for the 6pm tourny!
Hey illpoet, we've been back up for about 7 hours, but when we crashed 4 'lucky' accounts got messed up and yours was one, I just fixed it minutes ago. |
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bombed out 1/2 way through me winning the freeroll  still down ~3 hours later - hope to see it back online soon. I need my fix  We're back up. Anyone who was harmed just let me know and we'll make it right. |
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being able to make a wide range of bets instantly is a highly desired feature.
When Peerbet will gain momentum and have enough number of the users, most of the games will complete almost instantly. Also I have plans to add "express mode" feature, in which game rounds will complete without waiting ~10 minutes for the next Bitcoin block (it will be optionally because make impossible proof of the game fairness, but I think some users whatever will select it to get faster completion time). I think that is true, most will complete fast if there are many games happening. But there will always be games at the margin where only one person per hour, day, month wants the other side and imo the way to get them to fill is with the market mechanism of price. It happens that in the beginning a lot of wagers fall in this area (at most one person wants them at the price of zero). |
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This is very interesting.
I think part of why a casino can get away with charging so much is that being able to make a wide range of bets instantly is a highly desired feature.
Allowing anyone to offer any wager, even -EV ones might lead to a very large selection of wagers at very low fees as competition does it's thing. I don't have any interest in making wagers, but if I stood to profit a little bit on average I might load some in an set some up.
Everyone would be on equal footing, able to make or decline any wager, but I suspect you'd get two sorts of customers, those with a lot of money who want to profit by 'being the house' without setting up a 'house' and those who want instant gratification and don't mind paying .1% or 1.5% or whatever the market demands for instant gratification of their desired wager.
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If you don't think you can recoup it with your cut of fees it probably shouldn't be up there and I think it's understandable that they don't want to wade through a bunch of freerolling listers. Tons of 'choices' that all suck because there is no money on either side to be won is no good.
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Eh, it's not that good. People being "forced to drop out of the system" because they don't get as good a rate as before makes zero sense. |
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I'm sorry but I haven't the faintest what you are on about, your post isn't coherent enough to really convey anything. Better luck next time.
Alright, apparently I have to simplify it for you. Before Eisenhower eliminated the Silver Standard, every $note represented a certain bit of silver. If you had $5 you could go to the bank and get $5 in silver (as in silver certificates). Now, our (USA) currency is tied to NOTHING. Literally it is a piece of paper. What gives things value? Utility and scarceness. Obviously dollar bills don't have much utility. But they have a certain degree of rarity. However, the Fed Rsrv can print as much money as it wants, causing inflation and making $1 worth less. Bottomline: only FINITE forms of currensy work (gold, silver, etc). Our money system is INFINITE and therefore gives way to inflation. make more sense? I understand your view of fiat. Others have this view as well. You may be right, you may be wrong (regarding your assertion that "only FINITE forms of currency work"), only time will tell. What I don't understand is what you meant when you said: "First of all, the need to create Bitcoins. But even more than that-bitcoins are tied to the USD." Didn't you know anything you can buy with money gets part of that money's money-ness infused in it? It's a problem I often have with chairs. This chair I am in is so comfortable, but I'm dismayed that it is tied to the money I bought it with which greatly reduces it's chairy-ness. |
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Here's a possible theory/explanation for the dump:
It was MtGox itself.
Maybe in order to fill a $150,000.00 USD customer withdrawl (the kind of customer that isn't subject to daily limits)?
Why were the customer's funds in BTC rather than USD (as the customer's account probably indicated)?
Perhaps because MtGox is playing the market, in addition to collecting exchange fees?
Or perhaps MtGox is deep into some kind of fractional reserve float of BTC?
* where's my tinfoil hat? *
That makes no sense at all. In order for MtGox to not have customers funds available they would have to be willing to have used customers funds inappropriately. But if they are willing to simply use customer funds they don't have to buy the funds with their bitcoins, they can just use the funds as they already were (in your theory). |
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Yeah... I classify governments as an antiquity, so there.
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BTC cannot overtake the dollar if it depends on it to be measured...
+1000 just because a submarine cant outperform a boat on the surface doesnt mean you have to construct the submarine 5000 feet under water Aww, I thought you were goign to say "Just because a submarine can be bought with dollars doesn't make it sink." |
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Integrate, integrate, integrate, and Bitcoin will succeed, because it is superior.
If I wanted to go out to dinner, or needed to go to the store for some groceries, where can I go that will accept this superior currencies debit card? Anywhere debit cards are accepted. But way to come out swinging before you understand what is being discussed. But I'm still ultimately paying in cash. The bitcoins are just converted into real money by this bank. I've added this bitcoin middleman because... It's a better store of value than fiat. Is that why it is effectively backed by fiat? Or why the only community to really embrace it is absolutely plagued by scams and baffling incompetence? Back to the initial point, isn't part of the entire mythos of bitcoin getting away from federal regulation and banks? If you are just going to have your bitcoins processed through a bank that then converts them to fiat money, you are just taking a worthless middle step. You're still paying in fiat money, this is not a win for bitcoin, just a confirmation that for anyone to take it seriously, you have to back it with the very fiat money you are trying to overthrow. Maybe take this to the haters forum? You have to convert it because it isn't your local currency and the store you went to must only take local currency, hard to understand? No. |
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