4221
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Economy / Marketplace / Re: Site idea: btcTunes
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on: December 16, 2010, 06:05:21 PM
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enoxice: maybe you could talk to the owner of pastecoin.com or bitcoinservice.co.uk about working together and building on their platform.
They got the whole download and bitcoin spending figured it out.
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4222
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Bitcoin / Bitcoin Discussion / Re: No coins generated in 708 hours, normal?
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on: December 16, 2010, 05:08:39 PM
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Bottomline is that I don't believe that someone who was able to generate the equivalent of hundreds, if not thousands of bitcoins (the equivalent of much $$$), is on the same footing as someone today and that undermines the democracy behind the beautiful underlying technology.
It's not a democracy, but an agreement! I believe that a split network will continue to operate independently of one another.
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4223
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Bitcoin / Bitcoin Discussion / Re: MyBitcoin: Email me a Monthly Statement
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on: December 16, 2010, 06:51:00 AM
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In addition, we should be able to download the wallet, encrypted with some password protection.
So everybody who use mybitcoin can use another service, or a bitcoin client their computer/phone/etc.. even if mybitcoin goes down.
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4228
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Economy / Economics / Re: Inflation and the end of 50 BTC per block (from technical discussion)
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on: December 16, 2010, 06:09:56 AM
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There is no incentive for early user to promote your inflationary currency, appammato.
There's no incentive for saving if it is eroded repeatedly by inflation.
Your value is not being eroded. Your coins represent your percentage of work put into the block chain. That ratio will never be broken. Let me recalibrate my understanding. Every computer will be essentially generating bitcoin. Essentially, it is hyperinflation. However, this distort economic calculation to a really bad level. Everything you invest in looks like a profit, when it's actually not. There is still no incentive to save, because your saving is becoming worthless every single day due to inflation. Basically, it rewards the biggest generator at the expense of everybody else, except those who borrows money. In the bitcoin economy, the generators still benefit disapportionately, but it will also benefit those who save. In other words, everybody who save win, except those who borrows money. Investors in business will be forced to be more conservative or efficient at finding economic opportunity.
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4230
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Bitcoin / Bitcoin Discussion / Re: Why another surge in interest?
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on: December 16, 2010, 05:47:47 AM
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That was probably the second slashdotting combined with the EFF writing an article about bitcoin.
You mean, PCWorld. EFF just mention us as one of those project that decentralize the internet.
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4233
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Economy / Economics / Re: Inflation and the end of 50 BTC per block (from technical discussion)
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on: December 16, 2010, 04:24:13 AM
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From the perspective of a miner, it's neat and novel that I can throw five server machines at a distributed mining workload and watch it "generate" a dollar every day or two. If more people join, hopefully BTC value rises in proportion, I may see fewer BTC or less often, but they will probably still be worth a dollar every day or two at then-current rates. When mining produces half that BTC, then half again, and half again, why will I want to mine? When I quit along with many others, the network suffers and I believe there's plenty more CPU power out there that we should do everything to be strongest against... that's my main point in a nutshell.
There is a reason why we have transaction fees.
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4235
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Economy / Economics / Re: Inflation and the end of 50 BTC per block (from technical discussion)
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on: December 16, 2010, 02:51:34 AM
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If I type "deflation" into Google, I am presented with plenty of credible persuasive arguments as to why deflation is bad. Wikipedia introduces it as follows: "Economists generally believe that deflation is a problem in a modern economy because of the danger of a deflationary spiral" (which it later defines in detail). Conspiracy perhaps?
The bitcoin economy is undergoing a deflationary spiral, last time I check. We marvels at the fact that a pizza cost 10,000 BTC but we don't miss the old day. Anyway, the deflation that occurs in the bitcoin economy are *growth* deflation. You also have to remember that the early adopter are driven to make sure that bitcoin succeed. They knew that they will greatly benefit if they could get people to investing and using bitcoin. So they are not keen to horde all of their bitcoin, but rather invest in the economy.
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4240
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Other / Off-topic / Re: Torrent share forum
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on: December 16, 2010, 01:42:53 AM
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Wont this monetize piracy? thus making it just a way for a bunch of people to profit of something that should be free.
Meh, monetizing is good if it provide better service and goods. Beside, this will incentivize seeders to provide download for rare files.
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