you are basically asking banks to give up on a major part of their income (transaction fees). If the will not lose any income it means that the transaction fee on the coin will be at least equal to the regular rate.
Another problem is that this coin is supposed to replace them in the future- what incentive to they have to do that?

This would require the cooperation of all the European countries, otherwise Greece can print whatever new currency they like and give it to the other country as payment.
And they wont support it if  they will see that Greece got a huge piece of the cake in advance

I don't see how the velocity affects it. it will just affect how fast the debts are resolved. the total amount of money actually owed to others is pre-determined. if you knew what the circles are - you could know exactly how big the debt is - even without knowing the velocity

i dont think its a good metric for success
If tomorrow  BTC drops to 1-3$/BTC the hash rate will drop quite fast
miners mine because the coin is valuable for trading, not the other way around
I don't think bitcoin will die but it might stagnate.

I dont think circles of debt will account for a x1K difference

And why isnt it a problem? they will have to replace the euro with BTC or something like that to make the exchange rate jump like that.

so updating to 0.5.2 = vote for P2SH
staying with 0.5.1 = vote against P2SH
?

that doesnt sound right , there are ~900 "no vote" blocks

i wouldnt recommend using the solution described there
its like auto running all downloaded executables

I am a miner on p2pool
how does the voting process work?

wrong scale

worth of all bitcoins in existane = 6*8M=48 million
Greece debt:
Public debt   €329.351 billion (144.9% of GDP; 2010 est.)[12]
Budget deficit   €24.125 billion (10.6% of GDP; 2010 est.)[12]

the exchange rate will have to go up by ~x10,000

oops 2011
but looks like people ignored my mistake

If you want to continue this discussion please open a separate thread
Your logic is: DRM is fail now therefore it will remain fail forever.We can hack it now -> we will always be able to hack it. I disagree with this

it is drm - just a global rather than local one .i really hope those are just fantasies. i just wanted to show that it is not impossible. not that it will inevitably happen.
k. back on topic.
the main problem here is proof of work.
to make it work the scientific problem needs to be verifiable in a polynomial time while not being solvable in polynomial time  (the P!=NP theory)
so a client can work for a certain time on the solution. and once found can be verified quickly.
another thing is that it has to be predictable so you can clearly define a unit of work
for example looking for extremely large prime numbers can be useful - and shouldnt be to hard to verify
http://w2.eff.org/awards/20000406_coopaward_pr.html https://www.eff.org/awards/coop
you can require that the first half of the number is identical to the last half of the previous one
and the difficulty can be adjusted by setting a lower limit on the second half of the number

you have to encrypt the keys
the db is stored as a regular file - i was able to read the private key with notepad from outside the browser

currently doing something like this just isn't worth it
but if bitcoin or something similar will take away ~1trillion$ income in taxes from the government , they will force the ISP to shut it down
and it will basically mean the death of the internet as we know it
I am not saying that this is a probable outcome, but it is possible (though unlikely)

edit:
and you werent reading again. i wasnt talking about ports or encrypting your trafic with your own private key. i was talking about dropping any packet that isn't signed by the ISP's private key - which you dont have

Oh. so its totally offline
I thought it still required a server like apache

diguising wont help you. the security chip will sign the packet only if it was generated by a signed application
you wont be able to sign the packet your self and it will be dropped by the ISP
Non censored ISP might become illegal in the future - so whatever ISP you chose - will drop those packets

are you reading what i am writing at all?
How will bitcoin work if it cant send anything over the network?
Bitcoin requires the existence of an non censored internet to work.
If your ISP will drop all bitcoin related packets - there will be no blockchain (or as i suggested - dropping all non signed packets)

Authority = ISP being controlled and regulated by corporations/government

you use the local storage feature of html5?
I am just being paranoid, as required by bitcoin

Tor on a public wifi spot isnt good enough?

why should i trust you and the security of your pc with the private key of my wallet?

and: http://btcbin.com/#dev
does that delete only my entries?

By not giving you a choice. By selling only closed platforms. and making it not profitable hacking them or building open platforms that can bypass the ISP's encryption that will also run on a closed platform.

So your choices will be:
Open/hacked platform that can run any node - expensive , protocols can change without notice and then the platform will be useless for a while - it wont be able to connect to your ISP (think about 20% average uptime between hacks and updates)
Closed platform - you can run a node only if it was digitally signed by some authority , and can be shut down remotely by that authority at any time.