Bitcoin Forum
September 27, 2016, 05:19:47 AM *
News: Latest stable version of Bitcoin Core: 0.13.0 (New!) [Torrent]. Make sure you verify it.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Would you run a client with a built-in "tax"?  (Read 1863 times)
Ground Loop
Member
**
Offline Offline

Activity: 112


View Profile
July 23, 2010, 09:16:11 PM
 #1

If you could download a Bitcoin client that computed hashes at twice your current rate, but sent 5 of every 50 bitcoins awarded to the software developer, would you run it?


Bitcoin accepted here: 1HrAmQk9EuH3Ak6ugsw3qi3g23DG6YUNPq
1474953587
Hero Member
*
Offline Offline

Posts: 1474953587

View Profile Personal Message (Offline)

Ignore
1474953587
Reply with quote  #2

1474953587
Report to moderator
1474953587
Hero Member
*
Offline Offline

Posts: 1474953587

View Profile Personal Message (Offline)

Ignore
1474953587
Reply with quote  #2

1474953587
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1474953587
Hero Member
*
Offline Offline

Posts: 1474953587

View Profile Personal Message (Offline)

Ignore
1474953587
Reply with quote  #2

1474953587
Report to moderator
1474953587
Hero Member
*
Offline Offline

Posts: 1474953587

View Profile Personal Message (Offline)

Ignore
1474953587
Reply with quote  #2

1474953587
Report to moderator
FreeMoney
Legendary
*
Offline Offline

Activity: 1246


Strength in numbers


View Profile WWW
July 23, 2010, 10:53:29 PM
 #2

If you could download a Bitcoin client that computed hashes at twice your current rate, but sent 5 of every 50 bitcoins awarded to the software developer, would you run it?



Taxes aren't voluntary. Might be willing to pay a fee though.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
NewLibertyStandard
Sr. Member
****
Offline Offline

Activity: 252



View Profile WWW
July 23, 2010, 11:23:20 PM
 #3

If you could download a Bitcoin client that computed hashes at twice your current rate, but sent 5 of every 50 bitcoins awarded to the software developer, would you run it?
No, I wouldn't. If I released a Bitcoin client that looked like it was hashing twice as many hashes, but actually wasn't, and also donated 5 bitcoins out of every block of received bitcoins, would you run it? If you have such code, just release it. It will strengthen the network and promote the adoption of a version of the client with other improvements besides your improvement. If you really did release code that doubles the hash speed, I'd be more than happy to donate at least 5 bitcoins to you. Actually, probably more than 5, but I'm not sure how many.

Treazant: A Fullever Rewarding Bitcoin - Backup Your Wallet TODAY to Double Your Money! - Dual Currency Donation Address: 1Dnvwj3hAGSwFPMnkJZvi3KnaqksRPa74p
knightmb
Sr. Member
****
Offline Offline

Activity: 308


Timekoin - Save Electricity, Don't Waste It!


View Profile WWW
July 23, 2010, 11:39:07 PM
 #4

If you could download a Bitcoin client that computed hashes at twice your current rate, but sent 5 of every 50 bitcoins awarded to the software developer, would you run it?
The speed comes at a price, if you visit the developer area, there are several members who have released highly optimized/customized compiled binary for BitCoin client using the source that will get you that speed increase, but the application can crash randomly so you might not generate anything overnight if you aren't watching it 24/7

Ground Loop
Member
**
Offline Offline

Activity: 112


View Profile
July 24, 2010, 01:17:31 AM
 #5

Interesting replies.

I don't have such a client -- just to clear that up.

What I'm getting at is this:  If BTC were highly valued, and a very clever-but-selfish developer had an exceedingly fast client (say, someone gets CUDU running on all cylinders, or hand-crafts SSSE3 for i7), would they be better off retaining the program for their exclusive use (during inflation), or offering it for 'sale' by effectively charging a fee for every find.

I suspected it would be more profitable to distribute it with a small fee, but the reception sounds a bit... less favorable.

Bitcoin accepted here: 1HrAmQk9EuH3Ak6ugsw3qi3g23DG6YUNPq
kiba
Legendary
*
Offline Offline

Activity: 980


View Profile
July 24, 2010, 02:14:26 AM
 #6

Interesting replies.

I don't have such a client -- just to clear that up.

What I'm getting at is this:  If BTC were highly valued, and a very clever-but-selfish developer had an exceedingly fast client (say, someone gets CUDU running on all cylinders, or hand-crafts SSSE3 for i7), would they be better off retaining the program for their exclusive use (during inflation), or offering it for 'sale' by effectively charging a fee for every find.

I suspected it would be more profitable to distribute it with a small fee, but the reception sounds a bit... less favorable.

The difficulty would just goes up and make it harder for you to generate bitcoins.

SmokeTooMuch
Legendary
*
Offline Offline

Activity: 873


View Profile
July 24, 2010, 02:24:07 AM
 #7

doubling the hashspeed would double the expected value for generated bitcoins in a certain time.
as long as:
expected value  - tax = higher than the expected value before doubling the hashspeed (without taxes),
I guess I'd use it.

Date Registered: 2009-12-10 | I'm using GPG, pm me for my public key. | Bitcoin on Reddit: https://www.reddit.com/r/btc
You like what I'm doing? Why don't you send me a coin: 17Pj8jpUgY6qTaKgiopL5U48zxU4rTrkuB
knightmb
Sr. Member
****
Offline Offline

Activity: 308


Timekoin - Save Electricity, Don't Waste It!


View Profile WWW
July 24, 2010, 03:50:21 AM
 #8

Interesting replies.

I don't have such a client -- just to clear that up.

What I'm getting at is this:  If BTC were highly valued, and a very clever-but-selfish developer had an exceedingly fast client (say, someone gets CUDU running on all cylinders, or hand-crafts SSSE3 for i7), would they be better off retaining the program for their exclusive use (during inflation), or offering it for 'sale' by effectively charging a fee for every find.

I suspected it would be more profitable to distribute it with a small fee, but the reception sounds a bit... less favorable.
If he used it for personal use, then sure he could keep it to him/her self. But I think this being open source software, he couldn't legally do that.

There are a lot of gray areas about that would be beyond the scope of this topic I'm guessing.

Bitcoiner
Member
**
Offline Offline

Activity: 70


View Profile
July 24, 2010, 03:49:47 PM
 #9

Interesting replies.

I don't have such a client -- just to clear that up.

What I'm getting at is this:  If BTC were highly valued, and a very clever-but-selfish developer had an exceedingly fast client (say, someone gets CUDU running on all cylinders, or hand-crafts SSSE3 for i7), would they be better off retaining the program for their exclusive use (during inflation), or offering it for 'sale' by effectively charging a fee for every find.

I suspected it would be more profitable to distribute it with a small fee, but the reception sounds a bit... less favorable.

The difficulty would just goes up and make it harder for you to generate bitcoins.

But it would go up less if you were the one with the fast client and everyone else had "normal" clients. If you distributed such a fast client to everyone, then yes, the benefit would cancel out.

Want to thank me for this post? Donate here! Flip your coins over to: 13Cq8AmdrqewatRxEyU2xNuMvegbaLCvEe  Smiley
knightmb
Sr. Member
****
Offline Offline

Activity: 308


Timekoin - Save Electricity, Don't Waste It!


View Profile WWW
July 24, 2010, 05:01:24 PM
 #10

Interesting replies.

I don't have such a client -- just to clear that up.

What I'm getting at is this:  If BTC were highly valued, and a very clever-but-selfish developer had an exceedingly fast client (say, someone gets CUDU running on all cylinders, or hand-crafts SSSE3 for i7), would they be better off retaining the program for their exclusive use (during inflation), or offering it for 'sale' by effectively charging a fee for every find.

I suspected it would be more profitable to distribute it with a small fee, but the reception sounds a bit... less favorable.

The difficulty would just goes up and make it harder for you to generate bitcoins.

But it would go up less if you were the one with the fast client and everyone else had "normal" clients. If you distributed such a fast client to everyone, then yes, the benefit would cancel out.
Some of us are already like that, I'm running optimized clients that were posted by some members that have a 50% speed increase for a while now on a lot of PCs.  Wink

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!