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Board Economics

Re: Bitcoin deflation

JamesTaylor

on 30/05/2013, 03:11:43 UTC

Thanks kjj. I looked for the information in the measure that I could. I surely did not go through every topic in the forum but still it wasn't very clear.

So you say people commerce because they thing the value (including expectations of value etc..) is higher? Maybe when people (talking about majorities) buy things they do it for obligation or other reasons, not to get a profit (I get it's not only economical).

Whatever, I don't want to be that 101 tiring post on the recurring topic, I guess I'll have to research a bit more by myself. Thanks anyway.

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Board Economics

Topic OP

Bitcoin deflation

JamesTaylor

on 30/05/2013, 02:35:16 UTC

I'm serious worried about bitcoin deflation and can not find proper information. I know there's very well documented people in the forum and I would appreciate some comments on this topic.

If bitcoin price is going to go up (given it's finite) why should I buy things if I can hold the coins and be richer tomorrow?

Holding vs Spending

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Board Currency exchange

Re: Paying Volunteers to Test CoinGator.com Back-end!

JamesTaylor

on 23/05/2013, 00:27:59 UTC

Quote from: MicroGuy on May 22, 2013, 03:59:20 PM

Thanks for everyone who has tested the system.

This offer is still available so come give it a try! Regarding limits, we will be increasing the daily limits and decreasing processing time as we exit the beta phase. But keep in mind, we are not trying to create a replacement for a Mt.Gox but rather a quick and convenient service for those needing some fast cash or quick spending money.

What about the fee? Going over 5% seems too much to me.

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Board Economics

Topic OP

What happens if some1 rich buys it all?

JamesTaylor

on 23/05/2013, 00:25:56 UTC

I know it's impractical and can't be done within probably even a day nor a week, but what would happen if someone very rich would like to spend ~1 billion on bitcoins and buy it all?

At first glance looks like it would be the end. Thinking a bit more it suggests that the later bitcoins would be so expensive that even he couldn't afford it, but he would have so much that could make a huge profit out of it.

If there's someone more literate than me in economics, I'd love a detailed and argumented response.

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Board Economics

Re: Markets are efficient if and only if P = NP

JamesTaylor

on 23/05/2013, 00:23:38 UTC

It's widely accepted in the scientific community that P!=NP. Not sure, but most scientists "think" so.

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Board Beginners & Help

Re: COINABUL.COM is ignoring me all the way

JamesTaylor

on 23/05/2013, 00:13:42 UTC

Looks like a scam. please check in the forum some site is reliable before spending important quantities of money.

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Board Games and rounds

Re: Free bitcoins with surf4bitcoin.com [0.8845796BTC]

JamesTaylor

on 23/05/2013, 00:10:59 UTC

How can we know the plugins are safe and you are not collecting data etc?

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Board Bitcoin Discussion

Re: Please simplify the concept of P2P exchange

JamesTaylor

on 23/05/2013, 00:10:06 UTC

My question is not how it would work but how could it be decided? Why you and not me? How can "the community" make a strict and formal specification/design?

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Board Bitcoin Discussion

Re: p2p based currency exchange

JamesTaylor

on 23/05/2013, 00:07:41 UTC

The question is not in the specifics, the question is if it needs to be distributed (even more radical than decentralized), why should we want YOU design or specify it and not anyone else?

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Board Bitcoin Discussion

Re: Should Bitcoin Win Nobel Prize?

JamesTaylor

on 23/05/2013, 00:06:52 UTC

Would it be the first prize not to one/some individuals but to "the internet". That'd be great. I don't see any of the github coders getting the prize anyway. And giving it to the "maybe-unreal" Satoshi doesn't make a lot of sense.

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Board Bitcoin Discussion

Re: 51% attack possible ?

JamesTaylor

on 23/05/2013, 00:05:53 UTC

BTC Guild is the first not interested in a 51% (>50% to be precise) control, since all their work would devaluate, so I think it's not going to happen, at least not why the source is public. It's fine while we know where more than 50% of the blocks come frome.

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Board Bitcoin Discussion

Re: I found Erik Voorhees first bitcoin business card! LOL!

JamesTaylor

on 23/05/2013, 00:04:27 UTC

I was expecting "I met Satoshi". Not very far.

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Board Currency exchange

Re: FastCash4Bitcoins - over 290,000 BTC purchased - just 3.99% below spot

JamesTaylor

on 22/05/2013, 23:59:54 UTC

Too. Much. Bootstrap. I'll take a look but seeing a default bootstrap template doesn't inspire me a lot of safety. Looks like several people is using it though.

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Board Bitcoin Discussion

Re: Bitcoin is being killed by governments and nobody seems to care!

JamesTaylor

on 22/05/2013, 23:58:27 UTC

My real question about governments is:

1) With Bitcoins is really easy to launder money and do not declare your earnings. That means less money payed to taxes.
2) Even though everyone complains about taxes, the majority agrees, because they want public streets, schools, healthcare...
3) What if the state forces to remove Bitcoin because if people keep doing it they will need to increment taxes.
4) Taxes increment -> More people have nondeclared money. Go to 1).

How is that not a problem? In most "standard" (let me call it like that) countries, not only USA, is going to be a problem if it ends up being very popular.

Solutions? I don't know.

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Board Securities

Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It

JamesTaylor

on 21/05/2013, 02:15:57 UTC

Can some1 explain why is it going to be useful to know ASICMiner mining hashrate? I guess only curiosity.

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Board Micro Earnings

Re: Where do I get free Bitcoins?

JamesTaylor

on 12/05/2013, 23:22:51 UTC

Hey Portnoy I'm relatively new in the bitcoin scene, and what I mostly do is use faucets or other ways to get free bitcoins and I've found your list extremely helpful in that. I have searched on my own and have found some other that are confirmed and not included so you may consider including them. I just go and request several times per day and they have delivered.

This ones are not on your list at the time I'm posting:

The Bitcoin .me --- Blockchain confirmation
Raw Bitcoins .com --- Blockchain confirmation
Senor Bitcoin --- Blockchain confirmation (this one is funny!)
Nioctib .net --- Blockchain confirmation
Green Coins .net --- Blockchain confirmation
BTC Mine .net --- Blockchain confirmation (minecraft style)

What I like is just enter, paste my BTC address and get bitcoins without need to be distracted for a lot of minutes.

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Board Bitcoin Discussion

Re: WARNING! Bitcoin will soon block small transaction outputs

JamesTaylor

on 06/05/2013, 04:53:16 UTC

To everyone saying that this is good because it lets you do something that you had to recompile the code itself to do it before, I'll let you know that what people is complaining about is not the fact that the amount can be changed but the fact that the default value is not only arbitrary but inappropriate.

Similar to what some internet browsers used to do with the default search engine.

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Board Bitcoin Discussion

Re: WARNING! Bitcoin will soon block small transaction outputs

JamesTaylor

on 06/05/2013, 04:09:50 UTC

So link to this Gaving "IThinkImUSAPresident" Andresen guy comment.
https://github.com/bitcoin/bitcoin/pull/2577#issuecomment-17141937

Quote

Bitcoin is not appropriate for transactions less than a penny or three.

´
That's what he says, that's his opinion, why should everyone do what he says? CENSORSHIP. DICTATORSHIP. END THIS NOW.

They are creating a bitcoin fork: FREECOIN VS BANKCOIN.

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Board Bitcoin Discussion

Re: WARNING! Bitcoin will soon block small transaction outputs

JamesTaylor

on 06/05/2013, 02:15:06 UTC

Quote from: gweedo on May 05, 2013, 09:50:09 PM

Quote from: crazy_rabbit on May 05, 2013, 09:46:06 PM

Quote from: gweedo on May 05, 2013, 09:31:39 PM

I agree with this we need to fork, bitcoin was once known for the small transactions, and they want to take that away. Gavin has an ego and it needs to be taken under control. This is ridiculous this is a fix because they don't want to spend time trying to fix the bloat of the blockchain thru censorship!

I think we need to ask ourselves if Bitcoin will be a small transaction currency in the future or if it will be the backbone of a new future financial system in which the regular user rarely interacts with the blockchain directly.

That said, rather then fork- why not devise an alt-coin or use bitcoin testnet coins for this?

Your talking about something maybe in 25-50 years from now could happen. Today I want to send a penny if I use 0.8.2 I can't. IT IS CENSORSHIP. THE FOUNDATION IS ALL ABOUT CENSORSHIP!!!! GAVIN IS A DICTATOR OF BITCOIN. SATOSHI WOULD CRY RIGHT NOW!!! THE DEV TEAM CAN"T EVEN CODE THERE WAY OUT OF A PAPER BAG, THEY ARE USELESS. I am sick of them, the community is sick of them, it is time to cut them out of the power positions they have created for them self. If you believe that your correct go update, but trust me it starts with little changes like this and next thing you know your silk road addresses are block, then other things. GAVIN IS A POWER HUNGRY GREEDY PERSON, I SAW THIS FROM DAY ONE OF THE FOUNDATION. I HAVE BEEN RIGHT THE WHOLE WAY DOWN TO THIS.

OVER THROW THE DEV TEAM, THEY CAN"T HANDLE THE POWER THEY HAVE!

Even with caps, Quote worthy. I thought exactly the same and was not sure how to express it. Who gave them the power? Are they even proved as good enough programmers? This should not be allowed with the main client the vast majority is using. Not at all. Community raise.

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Board Bitcoin Discussion

Re: Boycott 0.8.2

JamesTaylor

on 06/05/2013, 02:08:11 UTC

I will definitely not update. Even if some agree this was correct, basing it in the price of USD... 54ubtc will be 1 cent of a dollar when its value is aprox 184 USD, so what's the point to have a digital cryptocurrency that can't allow even that? And you know changing it deppending on USD price is totally wrong