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Author Topic: Why a drop to about $2/coin will be good for bitcoins  (Read 4452 times)
helloworld
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September 07, 2011, 02:20:31 AM
 #21

Mining should be done as a hobby.

Vladimir must be having fun with his hobby.

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September 07, 2011, 07:34:01 AM
 #22

Try this.

https://bitcointalk.org/index.php?topic=41059.0

If there were ever any developer interest in an honest crypto-currency with sound fundamentals, I'd love to work with them on bringing my design to fruition.

But there won't be, because everyone that frequents this forum are get-rich-quick-tards.


"Secret sauce"?
"Get-rich-quick-tards"?

I've said it before, but I'll repeat myself. You're obnoxious. I'm not sure you're an out-and-out troll (exclusively, I mean), but nothing you have said has given me any reason to believe in your ability to design a better currency system, and since you don't give any real details about, say, how you will secure the system... Well.

Good day, sir.

Selling out to advertisers shows you respect neither yourself nor the rest of us.
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September 07, 2011, 08:09:29 AM
 #23

@Synaptic: Two questions...

1) Does your proposal result in a limited number of ?coins being produced?

2) Does your proposal attempt to distribute ?coins at a constant rate, or a variable rate? And if variable, what determines the rate of distribution?

-------------------------

@Minsc: I don't see how you're going to avoid what you're perceiving as a problem.

Mining needs to be based on something. In the case of Bitcoin, it's based on computational power. Whatever resource you propose to replace computational power, is going to be more available to those with more wealth.

Even if mining required answering Captchas, who will be more successful at this: someone trying to mine alone as a hobby, or someone who can hire a roomful of folks to do it for him? Greater wealth always means greater power. There's no way to avoid this in the physical realm.

Bitcoin is the ultimate freedom test. It tells you who is giving lip service and who genuinely believes in it.
...
...
In the future, books that summarize the history of money will have a line that says, “and then came bitcoin.” It is the economic singularity. And we are living in it now. - Ryan Dickherber
...
...
ATTENTION BFL MINING NEWBS: Just got your Jalapenos in? Wondering how to get the most value for the least hassle? Give BitMinter a try! It's a smaller pool with a fair & low-fee payment method, lots of statistical feedback, and it's easier than EasyMiner! (Yes, we want your hashing power, but seriously, it IS the easiest pool to use! Sign up in seconds to try it!)
...
...
The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings.
Synaptic
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September 07, 2011, 01:49:04 PM
 #24

Try this.

https://bitcointalk.org/index.php?topic=41059.0

If there were ever any developer interest in an honest crypto-currency with sound fundamentals, I'd love to work with them on bringing my design to fruition.

But there won't be, because everyone that frequents this forum are get-rich-quick-tards.


"Secret sauce"?
"Get-rich-quick-tards"?

I've said it before, but I'll repeat myself. You're obnoxious. I'm not sure you're an out-and-out troll (exclusively, I mean), but nothing you have said has given me any reason to believe in your ability to design a better currency system, and since you don't give any real details about, say, how you will secure the system... Well.

Good day, sir.

Good, I hope I'm obnoxious.

Because you know who's REALLY obnoxious?

Fucking Bitcoin proponents. People who think that poorly thought out alpha level proof-of-concept crypto-currency is the savior of the world financial markets and a viable speculation and investment vehicle.

Those are the REALLY fucking obnoxious people...
Synaptic
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September 07, 2011, 01:53:58 PM
 #25

@Synaptic: Two questions...

1) Does your proposal result in a limited number of ?coins being produced?

2) Does your proposal attempt to distribute ?coins at a constant rate, or a variable rate? And if variable, what determines the rate of distribution?

-------------------------

@Minsc: I don't see how you're going to avoid what you're perceiving as a problem.

Mining needs to be based on something. In the case of Bitcoin, it's based on computational power. Whatever resource you propose to replace computational power, is going to be more available to those with more wealth.

Even if mining required answering Captchas, who will be more successful at this: someone trying to mine alone as a hobby, or someone who can hire a roomful of folks to do it for him? Greater wealth always means greater power. There's no way to avoid this in the physical realm.


Excellent questions, and I wish you would have posted them in the alt-crypto thread instead, but here goes:

1) The limits are variable. Yes, there is a limit. No, it's not a hard limit. Maybe, I can elaborate further in the reference thread later.

2) Variable rate. Read the whole thread, I address this. Block generation is tied to economic indices.
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September 07, 2011, 08:37:11 PM
 #26

@Synaptic: Two questions...

1) Does your proposal result in a limited number of ?coins being produced?

2) Does your proposal attempt to distribute ?coins at a constant rate, or a variable rate? And if variable, what determines the rate of distribution?

-------------------------

@Minsc: I don't see how you're going to avoid what you're perceiving as a problem.

Mining needs to be based on something. In the case of Bitcoin, it's based on computational power. Whatever resource you propose to replace computational power, is going to be more available to those with more wealth.

Even if mining required answering Captchas, who will be more successful at this: someone trying to mine alone as a hobby, or someone who can hire a roomful of folks to do it for him? Greater wealth always means greater power. There's no way to avoid this in the physical realm.


Excellent questions, and I wish you would have posted them in the alt-crypto thread instead, but here goes:

1) The limits are variable. Yes, there is a limit. No, it's not a hard limit. Maybe, I can elaborate further in the reference thread later.

2) Variable rate. Read the whole thread, I address this. Block generation is tied to economic indices.

No, you know what is really obnoxious? People who bitch and moan about something, but don't do anything to correct it. You say you have an idea for something better, but you don't have the skills to implement it, and won't release the idea so that someone with the skills could consider implementing it. So, Bravo, you've done nothing (except puff yourself up in alternate threads like a jackass). 

At least coinhunter in all his clownery had something out there competing with bitcoin when talking all his talk.
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September 07, 2011, 10:05:04 PM
 #27

Bitcoins should be a currency and be $1.50 HuhHuhHuhHuhHuhHuhHuh?? the euro It's a paper based fiat currency. !

Mining should be done by individuals with cheap NVIDIA cards at 1Mhash/sec not for money but just to get a sample of bitcoins.
Why even bother,  0.00000001BTC it's not some novelty you'll have fun analyzing in your lab.

When mining for a month on normal hardware (not expensive stuff miners use), gets you less than one bitcoin a month, it's bad.  Mining should be to get people something to play with, not as a profit. Ps: You can't even play head or tail with it.

 It's best if electricity costs more than mining so it's worthwhile for some kid who just wants to buy a dime bag on The Silk Road to mine for a month to get that $10 plus shipping to try it.  I do support mining pools as they make it easier for people with cheaper hardware to get a few coins without buying them, however currently mining for a month with cheap computers most people have (not the mining rigs and expensive video cards most miners have) won't even get one bitcoin.

 I am just saying it would be good for bitcoins.  2$ per BTC would mean BTC are not worth mining on the most efficient GPU.

Instead of loosing money mining on your nvidia have you considered offering services to be paid in BTC ? ,,,

With 230+ posts it look like you haven't learned anything here.

What the fuck have you all been smoking to reply to this ?

Minsc
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September 08, 2011, 06:31:27 PM
 #28

Instead of loosing money mining on your nvidia have you considered offering services to be paid in BTC ? ,,,

The NVIDIA is for compatibility with a game I want to play.  I have not bought the card yet.

Anyway, I'm not sure what employment I can get to be paid in BTC, but I really would like to try.  And there is a website (in someone's signature) full of people saying they'll do this or that for BTC but no website with want ads that will pay people BTC to do things.

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westkybitcoins
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September 09, 2011, 06:41:17 AM
 #29

Instead of loosing money mining on your nvidia have you considered offering services to be paid in BTC ? ,,,

The NVIDIA is for compatibility with a game I want to play.  I have not bought the card yet.

Anyway, I'm not sure what employment I can get to be paid in BTC, but I really would like to try.  And there is a website (in someone's signature) full of people saying they'll do this or that for BTC but no website with want ads that will pay people BTC to do things.

Unless you know locals who use bitcoins, you might want to focus on services that can be offered online.

What languages do you know? You might be able to offer teaching, tutoring or conversational services for bitcoins.

If you know any programming, there may be bitcoin bounties for some code segments wanted by others on this forum.

How about artistic skills? Can you draw well, or perhaps create original designs for personal projects (nightstands, etc.) to certain specs?

You might be surprised the things others find valuable.

Bitcoin is the ultimate freedom test. It tells you who is giving lip service and who genuinely believes in it.
...
...
In the future, books that summarize the history of money will have a line that says, “and then came bitcoin.” It is the economic singularity. And we are living in it now. - Ryan Dickherber
...
...
ATTENTION BFL MINING NEWBS: Just got your Jalapenos in? Wondering how to get the most value for the least hassle? Give BitMinter a try! It's a smaller pool with a fair & low-fee payment method, lots of statistical feedback, and it's easier than EasyMiner! (Yes, we want your hashing power, but seriously, it IS the easiest pool to use! Sign up in seconds to try it!)
...
...
The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings.
The_Duke
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September 09, 2011, 06:46:38 AM
 #30



Good, I hope I'm obnoxious.

Because you know who's REALLY obnoxious?

Fucking Bitcoin proponents. People who think that poorly thought out alpha level proof-of-concept crypto-currency is the savior of the world financial markets and a viable speculation and investment vehicle.

Those are the REALLY fucking obnoxious people...

+1

NOT a member of the so called ''Bitcoin Foundation''. Choose Independence!

Donate to the BitKitty Foundation instead! -> 1Fd4yLneGmxRHnPi6WCMC2hAMzaWvDePF9 <-
DavinciJ15
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September 09, 2011, 06:40:33 PM
 #31



Good, I hope I'm obnoxious.

Because you know who's REALLY obnoxious?

Fucking Bitcoin proponents. People who think that poorly thought out alpha level proof-of-concept crypto-currency is the savior of the world financial markets and a viable speculation and investment vehicle.

Those are the REALLY fucking obnoxious people...

I have learned nothing except you are an angry and perhaps jealous individual.


@Synaptic: Two questions...

1) Does your proposal result in a limited number of ?coins being produced?

2) Does your proposal attempt to distribute ?coins at a constant rate, or a variable rate? And if variable, what determines the rate of distribution?

-------------------------

@Minsc: I don't see how you're going to avoid what you're perceiving as a problem.

Mining needs to be based on something. In the case of Bitcoin, it's based on computational power. Whatever resource you propose to replace computational power, is going to be more available to those with more wealth.

Even if mining required answering Captchas, who will be more successful at this: someone trying to mine alone as a hobby, or someone who can hire a roomful of folks to do it for him? Greater wealth always means greater power. There's no way to avoid this in the physical realm.


Excellent questions, and I wish you would have posted them in the alt-crypto thread instead, but here goes:

1) The limits are variable. Yes, there is a limit. No, it's not a hard limit. Maybe, I can elaborate further in the reference thread later.

2) Variable rate. Read the whole thread, I address this. Block generation is tied to economic indices.

Pie in the sky compared to a working solution!  Your idea may work but I would not agree to use your solution as free and thinking human being because in reality resources are limited not unlimited.

Your solution will not have the support of good honest people but it would be supported by the dishonest as in the current currency system you can manage your currency buy contracting and expanding the supply through deceptive measures thus making you no different than a central bank.  Once again your currency idea may work as the dishonest are more powerful than the honest people today and if you get one of them to support you, then you could get lucky.  This is what Facebook and the rest hope to achieve as we go through a currency crisis.

"[unlimited fiat] money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice." George Washington

I want to use the same colorful metaphor towards you but it would bring me down to your level of anger and evil.   I need to stop being angry at bankers and people such as yourself and focus on doing something to protect my self and improve the living conditions of those that agree with me or the ideas of Ron Paul.

Davinci
Working hard everyday to protect my self first and hopefully end the global banker occupation.
Synaptic
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September 09, 2011, 06:45:29 PM
 #32



Good, I hope I'm obnoxious.

Because you know who's REALLY obnoxious?

Fucking Bitcoin proponents. People who think that poorly thought out alpha level proof-of-concept crypto-currency is the savior of the world financial markets and a viable speculation and investment vehicle.

Those are the REALLY fucking obnoxious people...

I have learned nothing except you are an angry and perhaps jealous individual.


@Synaptic: Two questions...

1) Does your proposal result in a limited number of ?coins being produced?

2) Does your proposal attempt to distribute ?coins at a constant rate, or a variable rate? And if variable, what determines the rate of distribution?

-------------------------

@Minsc: I don't see how you're going to avoid what you're perceiving as a problem.

Mining needs to be based on something. In the case of Bitcoin, it's based on computational power. Whatever resource you propose to replace computational power, is going to be more available to those with more wealth.

Even if mining required answering Captchas, who will be more successful at this: someone trying to mine alone as a hobby, or someone who can hire a roomful of folks to do it for him? Greater wealth always means greater power. There's no way to avoid this in the physical realm.


Excellent questions, and I wish you would have posted them in the alt-crypto thread instead, but here goes:

1) The limits are variable. Yes, there is a limit. No, it's not a hard limit. Maybe, I can elaborate further in the reference thread later.

2) Variable rate. Read the whole thread, I address this. Block generation is tied to economic indices.

Pie in the sky compared to a working solution!  Your idea may work but I would not agree to use your solution as free and thinking human being because in reality resources are limited not unlimited.

Your solution will not have the support of good honest people but it would be supported by the dishonest as in the current currency system you can manage your currency buy contracting and expanding the supply through deceptive measures thus making you no different than a central bank.  Once again your currency idea may work as the dishonest are more powerful than the honest people today and if you get one of them to support you, then you could get lucky.  This is what Facebook and the rest hope to achieve as we go through a currency crisis.

"[unlimited fiat] money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice." George Washington

I want to use the same colorful metaphor towards you but it would bring me down to your level of anger and evil.   I need to stop being angry at bankers and people such as yourself and focus on doing something to protect my self and improve the living conditions of those that agree with me or the ideas of Ron Paul.

Davinci
Working hard everyday to protect my self first and hopefully end the global banker occupation.

You have no fucking idea what you're talking about, you obviously haven't read my conceptual description in the alt-crypto forum (https://bitcointalk.org/index.php?topic=41059.0), or you're simply too fucking stupid to understand it.

And your youtube videos were hilarious. Even more-so as my market predictions play out to the letter.
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September 13, 2011, 05:20:03 PM
 #33

Clearly you dont understand bitcoin

  • mining has a purpose >.<
  • price is irrelevant to the end user except for price stability which is a different thing
  • in order for the market cap to increase the price of bitcoin has to increase, which is good for miners, investors, currency exchangers, and bitcoins in general, good press really, who is it bad for? People with a low iq that dont understand decimals...anyonelse??
  • // end thread //
Minsc
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September 13, 2011, 09:07:57 PM
 #34

I'm mining at deepbit with my 4586.60 MH/s

I think your signature exlpains why you were so angry.

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September 14, 2011, 02:59:18 PM
 #35

price is irrelevant to the end user except for price stability which is a different thing
I agree.

Quote
in order for the market cap to increase the price of bitcoin has to increase, which is good for miners, investors, currency exchangers, and bitcoins in general, good press really, who is it bad for? People with a low iq that dont understand decimals...anyonelse??
People who bought lots of them with real money and were left holding the bag when the bubble popped?

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