[12:29] <keymone_> MagicalTux tell me why are you not using more mature exchange system?
[12:29] <keymone_> like milleniumit or something
[12:30] <keymone_> the one that is behind london stock exchange
[12:30] <keymone_> why reinventing the wheel especially when you see the incoming exponential usage growth
[12:30] <@MagicalTux> keymone_: does it handle ddos attacks well?
[12:31] <keymone_> yesterday press release said it was not due to ddos
[12:31] <keymone_> it's 2 separate problems, solving 1 is already a huge progress
[12:31] <@MagicalTux> keymone_: we are already solving this
[12:31] <bit14> @MagicalTux: why exactly would a ddos affect the matching and execution engine?
[12:31] <@MagicalTux> bit14: overloading system cpu
[12:31] <@MagicalTux> ddos are not all about cpu
[12:32] <dandate2> um did rebooting mtgox cause already deleted recent bids to come into play?
[12:32] <bit14> @MagicalTux: wouldn't the front end and execution engine be on different machines?
[12:32] <@MagicalTux> dandate2: rebooting?
[12:32] <keymone_> are you trying to battle trading bots? with all these 0.1 buys and sells?
[12:32] <@MagicalTux> bit14: not yet
[12:32] <@MagicalTux> keymone_: unrelated
[12:32] <bit14> @MagicalTux: wow, well, then that explains everything

I don't mean to add even more insult to injury, but as a software engineer myself - I can't even comprehend why someone would create such an abomination.

If you look at the trade feed, there are barely a few trades per minute in times of high lag. I still don't understand how they can capitulate under what is essentially so little volume.

The engine isn't even capable of >one trade per second most times, Nasdaq does at least 35,000 per second and is tested up to 60,000.

http://www.nasdaq.com/services/homw.stm

The order of magnitude difference doesn't make sense to me. Sure, some is to be expected, but not that much.

If you look at their trade feed, there are barely a few trades per minute in times of high lag. I still don't understand how they can capitulate under what is essentially so little volume.

The engine isn't even capable of >one trade per second most times, Nasdaq does at least 35,000 per second and is tested up to 60,000.

http://www.nasdaq.com/services/homw.stm

The order of magnitude difference doesn't make sense to me. Sure, some is to be expected, but not that much.

I really think that the shops could really do a lot more to help the economy than consumers can.

Coin value increases all the time so shops could subsidize their prices by some percent, say 5% to make them lower than every other fiat competitor. Even if they'd sell everything at a loss initially, they're guaranteed to make the difference back in a week or so. Sure, it's risky, but due to the nature of Bitcoin, this will happen indefinitely. (unless it is outlawed or something of that nature happens)

And, for companies selling services like hosting, or other online services, offering lower equivalent prices should really be a no brainer - no scary wholesaler breathing down their necks for their money.

It would be an incentive for even casual Joe to go deposit some cash, get some bitcoins, and get his dream TV for less than Amazon or Newegg or whoever. And since they'd be generating so much interest for bitcoins and everyone will want them, value is guaranteed to rise. Kind of like a social/consumer fueled pyramid scheme.

This would also make it a huge reason to go buy/spend coins, in a way similar to how the Silk Road is incentivising, yet for a good cause.

Have a leap of faith.

There was a bug with the PPS calculation and it was essentially paying out double (I confirmed it myself). Balances were adjusted to fix this.

* Nicksasa changes topic to 'On 7/04/2013-9/04/2013 ALL getwork miners were paid double.  Stratum miners were paid double yesterday for atleast 14h. A correction has been made to everyone's balance.'

(note I'm not affiliated with notroll.in)

I'd take a coin more seriously if it was designed for the long term instead of allowing a bunch of early adopters and/or already wealthy miners with mining farms to amass ridiculous wealth and manipulate the market at will once the coin gets popular. Pump and dumps would be nearly impossible this way though, so I can see why no one wants to make such a coin. No immediate profit.

Naming cryptocurrency 'coins' has bothered me - at least since the alts had a chance of fixing this.

It's the type of http://en.wikipedia.org/wiki/Skeuomorphism that may not make much sense a few years from now. And Skeumorphs are bad in general.

We should come up with a better suffix than -coin if this is an alt. Perhaps something deriving from "credits", which seems to be what most SciFi authors call future money.

Also, I like the idea here regarding reducing the massive profits of early adopters:
https://bitcointalk.org/index.php?topic=169623.0

So in your opinion there are two options here:

A) ridiculously valuing savings for no reason
-or-
B) devaluing savings


C) maintaining constant value

How about C because it might make more sense? No? Okay. Online liars, good one.

Seriously? Where did you read that I said that savings must be devalued? This is the problem with these forums, too many zealots with their fixed ideas.

Unfortunately - while idealistic, that's not realistic. It's going to simply be a matter of age.

Someone just going into the workforce will be making a fraction of what their parents made when they were young. Money will not move and production will cease resulting in bankruptcies and unemployment.

And, constantly decreasing salaries and prices would also be a logistical nightmare.

Purchasing power won't decline over time because prices drop at at least the same rate. If a chicken costs 100 btc today, or x% of all bitcoins, as more people are trading more chickens prices will drop from two reasons: 1) increased supply 2) deflation. So it will cost 1 BTC Z time from then, or .x% of all bitcoins.

Let's assume Bitcoin is the only currency in existance and your salary is paid in it.

As global population grows, your salary will get smaller and smaller from month to month. Your general purchasing power should stay the same because prices should also drop.

However, what is the logic supporting this? Hoarding is extremely encouraged, because you are assured to buy a lot more tomorrow than today with the same amount of money. Your savings never devalue, but they tremendously value.

Why should money that doesn't circulate and isn't used for anything at all (investments, development, etc) gain value simply by not being used?

Please explain this. The way I see it is that it simply promotes laziness and is detrimental to any future growth.

I hope people come to their senses and realize that at least the same inflation as gold (2%) is actually required in the long term. Luckily, we have until 2024 to get this changed, until then inflation in Bitcoin is going to be >2%. We want Bitcoin to succeed, not some other crypto-currency - it should be an easy enough flaw to fix.

Nothing is limited in our world or in nature, except perhaps atoms in the Universe. If we ever run out of valuable minerals on Earth, we will mine asteroids and other planets. Having a hard limit on one side (currency) and a variable on the other (population, economy, resources) doesn't make any sense. Ideally they should be in perfect synchronicity.

If you're not selling them for USD, then the phrase "buy $53 worth of goods with each coin" doesn't make much sense. You'd be buying 1 coin worth of goods with each coin.

Realistically however, for at least the short/medium term, bitmit sellers would most likely need some fiat liquidity and exchange some of the coins thus changing the price.

Well, technically, they're not all worth $51.88 - that just happens to be the price the last person bought at. (which is up to 53.70 at the moment)

People only need to sell coins worth $8 million for the price to go down to $0.02, and bring the market cap to just 160k USD.

Just wanted to put this out there as I have a problem with market cap in general, since it's an artificially inflated number that doesn't serve any purpose other than for bragging rights.

And yeah, I'm fun at parties.

I don't see how they could track or even enforce that regulation on miners.

Once passed through an anonymizer, they basically become users of virtual currency - since they won't be owning any of the created coins any more. Since users aren't affected in any way, isn't this an obvious loophole?

Of course, they're expecting people to play fair and declare what they're doing, but I don't see how they could ever enforce that regulation.

New grid up from World Football!

The World Cup quals are underway:

1    Scotland - Wales   
2    Macedonia - Belgium   
3    Croatia - Serbia   
4    Czech Republic - Denmark   
5    Hungary - Romania   
6    Slovenia - Iceland   
7    Israel - Portugal   
8    Luxembourg - Azerbaijan   
9    Poland - Ukraine   
10    Bosnia-Herzegovina - Greece   
11    Liechtenstein - Latvia   
12    Peru - Chile   
13    Uruguay - Paraguay   
14    Brazil - Italy

Now with affiliate tracking!!!

Simply point anyone to bit14.com?r=<your bitcoin address> and you will receive a 10% commission on their bet, regardless if they lose or win! Payouts are processed every two days.

Enjoy and good luck!

I funded it for you, but there's a blockchain.info problem again - so it will not appear funded on the site until they fix it.

Rest assured that I got you covered if you end up winning though:
http://blockexplorer.com/address/1GMAJosH3reRRaDN8f1LYPDtdiw3x8eNww (proof)

Even though bitaddress.org is technically a website and only works in a web browser, it does the generation completely client-side.

So you can save a copy of the site on an USB stick, grab any live cd that has a webbrowser, disconnect your internet cable, and open it from that live cd while completely offline.

Added two more grids:

1    Everton - Manchester City   
2    Stoke - West Bromwich Albion   
3    Aston Villa - QPR   
4    Swansea - Arsenal   
5    Southampton - Liverpool   
6    Sochaux - Valenciennes   
7    Bastia - Lyon   
8    Reims - Rennes   
9    Catania - Udinese   
10    Nuremburg - Schalke 04   
11    Hoffenheim - Mainz   
12    Hamburg - Augsburg   
13    Deportivo La Corunya - Celta Vigo   
14    Getafe - Athletic Bilbao

http://bit14.com/grid/29

1    Saint-Etienne - Paris Saint-Germain   
2    Toulouse - Bordeaux   
3    Nancy - Nice   
4    Siena - Cagliari   
5    Torino - Lazio   
6    Pescara - Chievo   
7    Sampdoria - Inter Milan   
8    Sunderland - Norwich City   
9    Eintracht Frankfurt - Stuttgart   
10    Osasuna - Atletico Madrid   
11    Granada - Levante   
12    Malaga - Espanyol   
13    Wigan - Newcastle   
14    Borussia M'gladbach - Hannover 96

http://bit14.com/grid/30

There are 3 grids open right now. More chances to win the jackpot, go for it!

New grid up:

1    Schalke 04 - Galatasaray   
2    Barcelona - Milan   
3    Bayern Munich - Arsenal   
4    Malaga - Porto   
5    Barnsley - Brighton   
6    Lazio - Stuttgart   
7    Inter Milan - Tottenham   
8    Bordeaux - Benfica   
9    Rubin Kazan - Levante   
10    Newcastle - Anzhi Makhachkala   
11    Fenerbahce - Viktoria Plzen   
12    Zenit St Petersbourg - Basel   
13    Chelsea - Steaua   
14    Cardiff - Leicester

Make your picks until tomorrow at 7PM. Get just 11 right to win. Good luck!