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Bitcoin / Project Development / Re: Bitcoin-Denominated Poker Chips
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on: October 01, 2012, 05:55:31 PM
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I believe the are calling 1/100 BTC a bitcent. 1/1000 is a mBTC.
I know, but I deliberately chose the more formal "ONE HUNDREDTH" for that denomination. For even smaller denominations I would probably use something like "ONE MILLI", "ONE TENTH MILLI", and "ONE HUNDREDTH MILLI" and finally "ONE MICRO".
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Bitcoin / Project Development / Re: Bitcoin-Denominated Poker Chips
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on: September 29, 2012, 02:45:20 AM
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"Actual physical bitcoins" might make a good accompaniment for them, so at the end of the evening whoever won the most could be awarded an actual good-anywhere coin as a trophy. Which they could always bring back next week to give others a chance to win back from them etc.
I agree! It would also be cool to give players at my games the option to purchase some of Mike's physical bitcoins with their winnings. The remainder would go straight to their wallet address.
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Bitcoin / Project Development / Re: Bitcoin-Denominated Poker Chips
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on: September 29, 2012, 02:26:50 AM
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I think I'd want 1BTC to be my highest denomination. Personally I doubt I'd ever use the BTC10 either, but some people are high-rollers, or may just want them as collectibles. Powers of 10 are a bit far spaced. Quarters?
I thought of that, but I'm reluctant to design quarters between every power of 10, especially with the price of bitcoin still so volatile. If these first chips are sought after and there's demand for quarters in a particular range, then I'll no doubt offer them. About how much for a 500 piece set?
Still determining my manufacturing sources right now, so I'll make an announcement here when I've got that in hand.
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Bitcoin / Project Development / Re: Bitcoin-Denominated Poker Chips
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on: September 29, 2012, 02:15:07 AM
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One big drawback is once the novelty has worn off, they will be equivalent to regular poker chips that simply have a decorative bitcoin symbol on them, because that's what they are. What denominates a chip is what the house says it is, so the printed BTC will serve no functional purpose.
The purpose of a poker chip is not to store value as much as it is to make it easy to handle value temporarily in the context of a game. That is why most people don't play poker with physical cash— it's damned inconvenient even though most people show up to a poker game with physical cash in hand. Once the game is over and the chips are put away, they no longer are considered to store value. Thus, I no more worry about my poker chips being stolen, regardless of what's printed on them, than I worry about my Monopoly money being stolen— that is actually a great convenience when dealing with the sums of money that are exchanged in some poker games. And, the BTC serves the exact same purpose as a $: to help players keep track of what's going on in the game. Unfortunately, poker chips, even ones with no currency symbol on them, don't go down into sub-unit fractions. I suppose you could imagine that every chip has a value that is is actually the reciprocal of what's printed on it, but that poses its own problems. Personally, I'm looking forward to the day when issuing milli-bitcoin, and eventually micro-bitcoin -denominated poker chips makes sense!
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Bitcoin / Project Development / Re: Bitcoin-Denominated Poker Chips
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on: September 29, 2012, 01:41:20 AM
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Being poker chips, do they really need stored value? Normal casino chips aren't actually worth dollars anywhere but the casino that issued them.
Yes, one of the defining aspects of poker chips is that they aren't normally considered valuable (except perhaps by collectors) outside of a particular venue— people expect them to be "play money" that is nonetheless imbued with redeemability during the game. Hence bitcoin-denominated chips can help get people used to the value of bitcoin. I like the fractional coins. They look really nice.
Thank you!
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Bitcoin / Project Development / Re: Bitcoin-Denominated Poker Chips
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on: September 29, 2012, 01:28:58 AM
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I considered poker chips before I considered doing Casascius Coins... my problem was that I couldn't strike a good balance between price, quality, and function (I wanted them to have real BTC value). But I have never done chips before so I was starting with an average hand.
I own some of your coins, and I think they're wonderful! I've shown them off at conferences I've attended. Yes, actually giving them durable BTC value is a problem— and not one I'm really anxious to try to solve. But as a form of educational outreach, I think they might go over pretty well.
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Bitcoin / Project Development / Bitcoin-Denominated Poker Chips
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on: September 29, 2012, 01:20:08 AM
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I've been thinking of putting my regular home poker game on the "bitcoin standard", and thought that it might be fun to make a set of real-world, bitcoin-denominated poker chips. Below you see my design for the chips I'm thinking of making. They will be casino-quality, 10g ceramic, 39mmx3mm chips.  The denominations I've chosen are those I think would be most useful for home games. It's interesting to note that, since bitcoin is likely to deflate over time, then chips that will be issued later will be for tinier fractions of the monetary unit. I was wondering whether anyone else might be interested in purchasing a set of such chips from me for their own games? (I would, of course, accept payment in BTC.)
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Bitcoin / Bitcoin Discussion / Re: EFF donations and the Bitcoin Faucet
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on: June 20, 2011, 09:32:08 PM
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I used the faucet to get my first coins, which were 0.02 if I recall correctly. It was a good demo. I was also the first person to notice the strange pattern on BitcoinMonitor.com that turned out to be the faucet's first major case of abuse. It's too bad the EFF doesn't want the coins but I can see why they might want to not have any appearance of bias. So given that they don't want the coins I think giving them to the faucet isn't a bad idea, but it isn't that great an idea either because some people will abuse it. I think the best that can be done is make sure that the amount of coins the faucet gives out is enough to ensure a good demo but small enough that it would be prohibitively expensive for even bad actors to bother with another faucet raid. Any way the faucet can just give out just a tiny multiple of the minimum that can be sent with the current client? Or perhaps just one Satoshi per customer... 
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Bitcoin / Bitcoin Discussion / Re: What have we all learnt from the Mt Gox incident?
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on: June 20, 2011, 08:06:49 PM
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Aside from the fact that I'm glad I used a unique password for my Mt. Gox account, I look at this incident in much the same way I look at the Amazon Web Services outage of a couple months ago (which I was also affected by.) Some AWS users left claiming they had lost faith in Amazon's ability to keep their systems up, even though up to that time Amazon's record had been exemplary. My feeling was and still is that this sort of thing would only strengthen Amazon, and that while failures do inevitably happen, this failure would be extremely unlikely to happen ever again, and a whole class of related potential failures would never happen at all. So, unless Amazon, and by the same argument Mt. Gox, shows a repeated pattern of failures in the same category, I think it wise to stick with them.
There's a lot of truth in Nietzsche's statement, "That which does not kill me makes me stronger."
You're comparing Amazon.com with Magic The Gathering Online eXchange. One of them is the biggest success of the internet age that employs the most talented computer scientists in the world to tackle the most difficult business and technical challenges on the internet. The other is a glorified calculator, providing a service that was already perfected long ago, in a very amateur and incompetent way. They've made errors that freshman computer science students know not to make. They've proven their deep incompetence. AWS went down because AWS is like the space shuttle of internet technology. It is cutting edge: AWS EBS is trying to solve a problem that most other experts literally consider impossible. Despite their downtime, they haven't even violated their SLA. Magic The Gather Online eXchange is too incompetent to use bcrypt and not expose their fucking accounts database to insecure parties. Magic The Gathering doesn't even have an SLA. Because they are fucking incompetent and untrustworthy. AWS did violate their SLA and did in fact compensate customers like me in the wake of their outage. I expect that Mt. Gox will also do right by their customers, including formalizing some sort of guarantee if necessary, although I wasn't aware that commodity exchanges had SLAs. Meanwhile, although you're right that AWS and Mt. Gox aren't really comparable in terms of current scale, my point was not about scale, but about adaptability. And besides, Amazon started out as just an online bookstore. It will be interesting to see where Mt. Gox is 5 or 10 years from now. You think they'll be dead. I'll wait and see. Early days yet, people. Growing pains are expected.
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Other / Meta / Re: RE: "Mt. Gox is OBSOLETE. STOP USING IT."
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on: June 20, 2011, 10:48:55 AM
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We need to really start bringing attention to the censorship here.
Again, for uncensored forums - go Freenet So, are you defending the admins of the OFFICIAL forums for manipulating the debate in the favor of power players. to the detriment of the community? Well, Synaptic. Speaking as a "fucking retard" I think he's just politely reminding you of the decentralized nature of the Internet, that empowers you to speak your mind unfettered by the oligarchic masters laughing at you from their black helicopters here at the "official" Bitcoin forums. If I felt as disaffected as you clearly do, I might go ahead and do something similar. Starting your own forum is really easy: you just... but I've already said too much; they've probably overheard this conversation. No, wait! I'm loyal! I didn't say that, it was someone else— I was hacked! AAAHHHH! [gun with silencer sound effect, two shots] Uurrrgghhhh!
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Other / Meta / Re: RE: "Mt. Gox is OBSOLETE. STOP USING IT."
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on: June 20, 2011, 10:15:43 AM
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So are any of you fucking retards going to put forth a single comment about the manipulation of the debate on these forums, or just keep attacking me?
Sure, I'll engage you in serious conversation. After all I am a "fucking retard."
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Other / Meta / Re: RE: "Mt. Gox is OBSOLETE. STOP USING IT."
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on: June 20, 2011, 10:11:35 AM
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It should be apparent to everyone here now that behind the scenes the major players are connected, and you are mostly a bunch of patsies in their game.
Whew. Glad that's so apparent now... you can stop saying it.
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Other / Meta / Re: RE: "Mt. Gox is OBSOLETE. STOP USING IT."
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on: June 20, 2011, 10:08:47 AM
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The mods/admins/developer are all mates. It's kind of ridiculous to have a decentralised currency with such a centralised core.
Then by all means help decentralize the Bitcoin world further and start another forum. As an experiment, you can simply start a Bitcoin thread on 4chan and see how well that goes!
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