Bottlecaps 2.1 UPDATE REQUIRED - HARDFORK JULY 4 2014 to 200% Annual PoS

[Walking Glitch]

^^^ this is basically how it works.

How Digital industry thought that banks don't lend out money that is deposited into banks is beyond me and couldn't be further from the truth!

You're all wrong (at least partially), unless I'm mis-interpreting something you guys said. The local banks lend out money that they have, but the majority of that money is not depositors money, it's money from a bigger bank that they borrrow from. That bigger bank in turn borrows it from a bigger bank, think Bank of (un)America(n). Those banks in turn borrow money from the Federal Reserve which is the entity that illegally prints money out of thin air. (That's actually the Mint's job as per the Constitution, but apparently the reserve too big to jail.) You're welcome. Oh by the way, the Federal Reserve's board of directors is made up of executives from the biggest 13(? I think thirteen) banks.

[paulsltc123]

Anyways...the whole banking thing doesn't matter here and people are going to think whatever they want...whether right or wrong.

So Multiport ..should we want Caps on there or not? Good or not...curious what consensus is and why..

[eBit]

Pool and pool website are down. Could the pool operator please check this?

http://cap.coinmine.pl/

[digitalindustry]

^^^ this is basically how it works.

How Digital industry thought that banks don't lend out money that is deposited into banks is beyond me and couldn't be further from the truth!

That is because you likely have half of an education , I dont want to go back and have to read all that but I will if I have to , a reserve ratio is just that a ratio of reserve .

If that is too difficult for people to understand then unfortunately you maybe beyond help.

The " reserve ratio" relates ofcourse to the age old magic of " fractional reserve lending" .

Deposits only make up the reserve so that the " general ledger" can allow for the issuance of new money to be loaned into existance , thats right kiddies , loaned into existance .

The fact that its 2013 and the fact that you are ignorant of this is the reason we are in a lot of trouble.

I can link you to some fast paced video so that you may school yourself if you like ?

[digitalindustry]

^^^ this is basically how it works.

How Digital industry thought that banks don't lend out money that is deposited into banks is beyond me and couldn't be further from the truth!

You're all wrong (at least partially), unless I'm mis-interpreting something you guys said. The local banks lend out money that they have, but the majority of that money is not depositors money, it's money from a bigger bank that they borrrow from. That bigger bank in turn borrows it from a bigger bank, think Bank of (un)America(n). Those banks in turn borrow money from the Federal Reserve which is the entity that illegally prints money out of thin air. (That's actually the Mint's job as per the Constitution, but apparently the reserve too big to jail.) You're welcome. Oh by the way, the Federal Reserve's board of directors is made up of executives from the biggest 13(? I think thirteen) banks.

Wrong again ,

Its beautiful to watch at least 15 or more people realize their life is a lie...

The money is not " loaned from a bigger bank " it is created , it is new money that did not exist before , it is by definition inflating the money supply , it did not exist before .

New loan = new money .

Paid loan = extinguished money .

Any intelligent guy want to have a crack at the rest of this .....

[digitalindustry]

Anyways...the whole banking thing doesn't matter here and people are going to think whatever they want...whether right or wrong.

So Multiport ..should we want Caps on there or not? Good or not...curious what consensus is and why..

^^^^^^

I advise this , ignorance is bliss , finding out your life is a lie and you are doomed to a lower standard of living can be disruptive .

[digitalindustry]

^^^ this is basically how it works.

How Digital industry thought that banks don't lend out money that is deposited into banks is beyond me and couldn't be further from the truth!

You're all wrong (at least partially), unless I'm mis-interpreting something you guys said. The local banks lend out money that they have, but the majority of that money is not depositors money, it's money from a bigger bank that they borrrow from. That bigger bank in turn borrows it from a bigger bank, think Bank of (un)America(n). Those banks in turn borrow money from the Federal Reserve which is the entity that illegally prints money out of thin air. (That's actually the Mint's job as per the Constitution, but apparently the reserve too big to jail.) You're welcome. Oh by the way, the Federal Reserve's board of directors is made up of executives from the biggest 13(? I think thirteen) banks.

Wrong again ,

Its beautiful to watch at least 15 or more people realize their life is a lie...

The money is not " loaned from a bigger bank " it is created , it is new money that did not exist before , it is by definition inflating the money supply , it did not exist before .

New loan = new money .

Paid loan = extinguished money .

Any intelligent guy want to have a crack at the rest of this .....

^^^^

There is another ingredient that makes this whole equation much more interesting , lets play .

Guess what it is . ? ?

[digitalindustry]

To help you guys I found something on wikipedia a known rock solid source of information !  : D

Just going to grab....

**  having problem with tablet , also Im just fraudulently editing the wiki so that it say what I want it to say ....

Wont be long .....

Lets ignore this whole " banks ruined my slave life "  and get back to the important business of the day .

[feeleep]

Pool and pool website are down. Could the pool operator please check this?

http://cap.coinmine.pl/

Hi,

There was an outage indeed because of server failure. Now pool is back online. Sorry for inconvenience.

feeleep

[digitalindustry]

Hey  guys I think im may have cleared up your confusion in this link .

https://bitcointalk.org/index.php?topic=288097.new#new

John Eden this relates to my comment very early at the start of the caps thread .

[paulsltc123]

^^^ this is basically how it works.

How Digital industry thought that banks don't lend out money that is deposited into banks is beyond me and couldn't be further from the truth!

That is because you likely have half of an education , I dont want to go back and have to read all that but I will if I have to , a reserve ratio is just that a ratio of reserve .

If that is too difficult for people to understand then unfortunately you maybe beyond help.

The " reserve ratio" relates ofcourse to the age old magic of " fractional reserve lending" .

Deposits only make up the reserve so that the " general ledger" can allow for the issuance of new money to be loaned into existance , thats right kiddies , loaned into existance .

The fact that its 2013 and the fact that you are ignorant of this is the reason we are in a lot of trouble.

I can link you to some fast paced video so that you may school yourself if you like ?

actually the reason "we are in a lot of trouble" is because of arrogant s.o.b.'s like you.. yes yes, we can clearly see you know everything and must school us and "our lives are a lie" yada yada"
are you actually reading what you are writing? anyways, i'll let you get back to your mirror

i have to go school myself! lol

[paulsltc123]

anyways...back to the thread at hand..this thread actually is supposed to be for CAPs right..

anyone expect to see it hit back up around 0.0002btc anytime soon or likely to stay here for a while?
and going back to the multiport question..is it going to be added to the cycle on Multipool anytime soon...is that why it was brought up earlier? I'm still not sold on that idea yet but maybe its a good thing at this stage.

[Walking Glitch]

anyways...back to the thread at hand..this thread actually is supposed to be for CAPs right..

anyone expect to see it hit back up around 0.0002btc anytime soon or likely to stay here for a while?
and going back to the multiport question..is it going to be added to the cycle on Multipool anytime soon...is that why it was brought up earlier? I'm still not sold on that idea yet but maybe its a good thing at this stage.

Price will go up when the diff goes up, as people won't sell it below cost. When the next round of POS hits, it'll probably go up past 0.0002, and with more miner interest, maybe past 0.0003. Untl the next round of POS, multipool is probably not a good diea, let me explain: When multipool mines a coin, it drives the difficulty up, and causes orphans due to the sudden high hashrate creating blocks faster than they were meant to be. Once the difficulty goes up, it is no longer the mostprofitable coin to mine, as the price would not have had time to catch up, so the coin is stuck with an even higher difficulty, and it takes longer for it to go back down, reducing the profit of the coin causing even more miners to leave, and the value to go down. However, the effects of it are much less if there are more people mining this coin fulltime, and not on a multipool. Anyways, when the next big round of POS starts a month from now, this coin should have gained enough miners to reduce the impact of multipool. However, multipool does command something like 800MH/s, so maybe not; consider thgat the network right now at any given moment is doing 50-70.

[digitalindustry]

^^^ this is basically how it works.

How Digital industry thought that banks don't lend out money that is deposited into banks is beyond me and couldn't be further from the truth!

That is because you likely have half of an education , I dont want to go back and have to read all that but I will if I have to , a reserve ratio is just that a ratio of reserve .

If that is too difficult for people to understand then unfortunately you maybe beyond help.

The " reserve ratio" relates ofcourse to the age old magic of " fractional reserve lending" .

Deposits only make up the reserve so that the " general ledger" can allow for the issuance of new money to be loaned into existance , thats right kiddies , loaned into existance .

The fact that its 2013 and the fact that you are ignorant of this is the reason we are in a lot of trouble.

I can link you to some fast paced video so that you may school yourself if you like ?

actually the reason "we are in a lot of trouble" is because of arrogant s.o.b.'s like you.. yes yes, we can clearly see you know everything and must school us and "our lives are a lie" yada yada"
are you actually reading what you are writing? anyways, i'll let you get back to your mirror

i have to go school myself! lol

Sorry for my tone friend . But isn't a rather large thing to overlook . I fear you might not grasped the gravity of the problem here that is very soon likely to intimately effect many including yourself.

[Lauda]

Why don't you take this off topic discussion somewhere else?
This is the CAP thread..

[digitalindustry]

Why don't you take this off topic discussion somewhere else?
This is the CAP thread..

sure thing friend i have noting more to say , go about your important business. 

[Lauda]

Why don't you take this off topic discussion somewhere else?
This is the CAP thread..

sure thing friend i have noting more to say , go about your important business. 

At least you're being nice. 
I'm just eager to see the next update with the new GUI.

[mullick]

The topics in this thread are better than the previous few weeks 

But anyways. Ill be leaving town until 9-9-2013 starting tonight. Network is stable with no issues reported. See you then!

EDIT: Work on the next update will continue right when I get back

[paulsltc123]

Anyone else having "missing payments" at Vern's pool (Bottlecapspool.com)? Last couple days I have noticed dozens of random "confirmed" blocks for which payments are missing. I know two others who are having same issue. Just curious if anyone else here is using that pool and missing payments?
I have messaged Vern and he is looking into it I believe

[eBit]

Anyone else having "missing payments" at Vern's pool (Bottlecapspool.com)? Last couple days I have noticed dozens of random "confirmed" blocks for which payments are missing. I know two others who are having same issue. Just curious if anyone else here is using that pool and missing payments?
I have messaged Vern and he is looking into it I believe

I have a lot of blocks for which the reward column is blank... Even for blocks for which I'm the finder. This isn't a new issue though and is one of the reasons I stopped mining there previously. I didn't realize the pool was back up so I decided to test it out again. My rewards were are about 20% under the estimated amount, but I don't know if those blank amounts are actually paid out or not. Please post when you know something more.