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Showing 20 of 42 results by bitanarchy
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Topic
Board Press
Re: [2014-01-07] geekologie.com - TV Reporter Accidentally Unveils Bitcoin's...
by
bitanarchy
on 07/01/2014, 22:33:36 UTC
Are these coins tainted now? Or is this just a givaway?
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Board Legal
Topic OP
If virtual currency is taxed, why not tax sex, it is also a means of exchange...
by
bitanarchy
on 13/08/2013, 12:27:24 UTC
Favors, like sex, are also a means of exchange. What is legally the difference between taxing virtual currency and taxing sex?
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Topic
Board Off-topic
Topic OP
Is this about the cryptocurrency dip?: Man of steel (Superman)
by
bitanarchy
on 09/07/2013, 16:28:22 UTC
"His hair gel does not change the whole movie, because, I guess, there is not cryptonite hair gel."

https://www.youtube.com/watch?v=bMuDDCKuhbY
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Topic
Board Meetings (Nederlands)
Re: Bitcoin woensdag in Amsterdam
by
bitanarchy
on 19/06/2013, 20:29:27 UTC
Het Leidsche plein wordt omgedoopt tot Satoshi plein Smiley
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Topic
Board Bitcoin Discussion
Re: Why $17??
by
bitanarchy
on 30/06/2011, 19:34:03 UTC
The FED has put a control loop on the Bitcoin price. That's what they do right... stabalize currency. :-)
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Topic
Board Bitcoin Discussion
Re: Silverfuturist on bitcoin.
by
bitanarchy
on 08/06/2011, 16:05:27 UTC
Silverfuturist wants a live bitcoin vs silver debate now:
http://www.youtube.com/watch?v=Qb3Pd6MgC0E
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Topic
Board Marketplace
Usenet provider for bitcoins?
by
bitanarchy
on 07/06/2011, 19:07:37 UTC
One of the most obvious services to pay for using bitcoin is usenet.
Which usenet providers accept bitcoins?

I know only this one: http://www.chundle.com/bitcoin
but it is still too expensive. I am searching something in the order of €7.50 per month.
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Topic
Board Bitcoin Discussion
Silverfuturist on bitcoin.
by
bitanarchy
on 06/06/2011, 19:00:45 UTC
http://www.youtube.com/watch?v=OgYamdGLuA4

Quite sad that he is also going for the Ponzi scheme thing... actually it is an insult to all the early adopters, who are entrepreneurs!
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Topic
Board Marketplace
Re: Namecoin <-> Bitcoin Exchange
by
bitanarchy
on 04/06/2011, 17:50:16 UTC
I tried to login with my myOpenId account "http://bitanarchy.myopenid.com".
I had to turn on accepting third party cookies, to get around a cookie error. After that, I got this:
Fatal error: /home/chris/src/ur/openid/src/ur/openidUser.ur:264:28-264:63: Username not found
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Board Bitcoin Discussion
Re: Could the fees really support the Bitcoin network?
by
bitanarchy
on 21/05/2011, 19:37:43 UTC
If the transaction fees would not be enough to support the desired security by bitcoin hoarders, then the block reward just has to go up. I suspect that competition between different versions of bitcoin that adopt a different block reward, would discover the right block rewards at a certain time. Saving gold in a protective vault also costs a lot.
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Board Project Development
Re: Bounty 20 BTC: Wi-Fi Hotspot, enabled by bitcoin
by
bitanarchy
on 16/05/2011, 19:56:39 UTC
It would be cool if wireless mesh networks would come to being financed by the users through bitcoin.
http://bitcointalk.org/index.php?topic=6477.0
http://en.wikipedia.org/wiki/Mesh_network
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Topic
Board Announcements (Altcoins)
Re: [announce] Namecoin - a distributed naming system based on Bitcoin
by
bitanarchy
on 30/04/2011, 19:30:56 UTC
Considering the following discussion,
http://bitcointalk.org/index.php?topic=2699.0
did you choose a different elliptic curve for namecoin than the secp256k1 to reduce possible change of intrusion into bitcoin security by, for example the NSA.
It would ease my concerns a lot if satoshi would make himself public, so that he could explain why he chose that particular curve...
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Topic
Board Bitcoin Discussion
Re: Max Number of Bitcoins - Then What
by
bitanarchy
on 24/04/2011, 21:27:07 UTC
But people forget that, unlike gold, bitcoins (or for that matter blocks) are not all identical. They have an age. This is bound to have consequences for the relative market price. At some point in time old bitcoins (read blocks) will be values different from new ones.

Really? So not all bitcoins have identical value? Am I the only person who read this and thought it a little strange..
With gold, it is very difficult to impossible to determine where the gold came from... especially when you collect it and melt it.
I realize now that bitcoins of different age can also be merged and spitted up. And this process destroys a well-defined relation between a (fraction of) a bitcoin and a block it originated from.
So the situation is more complicated than I thought.
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Topic
Board Bitcoin Discussion
Re: Max Number of Bitcoins - Then What
by
bitanarchy
on 24/04/2011, 21:16:15 UTC
That is incorrect, after slightly less than 21 million have been created, blocks will stop having a reward.
Ok, but these blocks will still be assigned to people. What if people start trading them as a separate currency? You see what I mean...
There are quite a few problems with that.  First of all how do you transfer ownership of a block?  I very highly doubt blocks will ever be traded (if you can even figure out a way to do that).
Oh, I get it. The first transaction in the block assigns a number of bitcoins to an address that is chosen by the creator of the block. The software is currently configured to reject blocks that assign an incorrect number. That is a  number that is not according to the sequence: 50, 25, 12,5, etc for respectively 4 years each. So you say, that at some point in time the block creator cannot add an extra transaction assigning bitcoins to himself anymore?
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Topic
Board Bitcoin Discussion
Re: Max Number of Bitcoins - Then What
by
bitanarchy
on 24/04/2011, 15:04:01 UTC
That is incorrect, after slightly less than 21 million have been created, blocks will stop having a reward.
Ok, but these blocks will still be assigned to people. What if people start trading them as a separate currency? You see what I mean...
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Topic
Board Bitcoin Discussion
Re: Don't buy bitcoins. Use carrots instead!
by
bitanarchy
on 24/04/2011, 13:37:20 UTC
Nielsio posted this on his channel. It is the video that is supposed to back up his point of view on bitcoin.
"The Economics of Legal Tender Laws (by Jörg Guido Hülsmann) "
http://www.youtube.com/watch?v=z-xR-xB84XQ

Any comments?
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Topic
Board Bitcoin Discussion
Re: Max Number of Bitcoins - Then What
by
bitanarchy
on 24/04/2011, 13:18:20 UTC
Hey guys

MB this has been approached already, but I couldn't find it on the forums.

What happens when we reach maximum allocation of BitCoins?

Currently there are about 6m coins in circulation. I believe the maximum is 21m. I don't know the rate of creation, but I read somewhere than theoretically in 50 years time all the coins that can ever be created will be in circulation.

Question is: What then

At the moment, the nodes supporting the network are incentivised because they get paid a certain amount of coins per transaction, which they are allowed to create.

However when #BTC = 21m, nodes will not be allowed to create any more BTC.

So what incentives are there at that point for nodes to continue supporting the system?
Bitcoins will always be created. The cap of 21M is just artificial. It is a result of the imposed rate of exchange between the bitcoins attributed to new blocks w.r.t. old blocks. The blocks will still be created at a constant rate, which means that the rate of supply inflation in terms of blocks is ~1/t, while the rate of supply inflation in terms of bitcoins (with the current imposes geometric fall-off) is ~1/t * e^-t.
But people forget that, unlike gold, bitcoins (or for that matter blocks) are not all identical. They have an age. This is bound to have consequences for the relative market price. At some point in time old bitcoins (read blocks) will be values different from new ones.
I have not investigated all the relevant factors that will determine the price(block age) but I doubt that it will remain exactly as prescribed by the current bitcoin client.
Note that, currently there is no way to select exactly which bitcoins you want to send to someone. But there may be very good reasons to add that feature to the bitcoin client. As soon this is done, people may prefer to have old coins or new ones.... I don't know...
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Board Bitcoin Discussion
Re: When the majority decides to change the rules
by
bitanarchy
on 21/03/2011, 19:56:04 UTC
Right now the software does not allow people to decide which bitcoin one wants to spend. I believe that there are already a number of reasons identified on this forum why that feature would be useful. Bitcoins have a date of creation, and are therefore not all identical.
Why? This would work against Bitcoin by violating one of the fundamental properties of money, that each unit is worth the same as any other (fungibility).
It is not a question of why. This feature can easily be implemented. So it is just a matter of time before it is there. After that the market will decide the relative value of bitcoins with different ages.

Note that old physical coins also have a collectors value. Bitcoin differs from old physical coins in:
1. that it does not have a weight in metal. Note that the coinage is only a certificate of authenticity. Note that all atoms of a metal are quantum mechanically completely identical.
2. that it is not subject to legal tender laws
3. they do not wear out.
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Board Bitcoin Discussion
Re: When the majority decides to change the rules
by
bitanarchy
on 21/03/2011, 18:56:57 UTC
blocks will be produced at a constant rate of 1 every 10 minutes. Bitcoins are actually represented by these blocks. Right now the software does not allow people to decide which bitcoin one wants to spend. I believe that there are already a number of reasons identified on this forum why that feature would be useful. Bitcoins have a date of creation, and are therefore not all identical.

As soon as this feature is added to the bitcoin client this will allow people to trade bitcoins of a different age at a different price. In other words the geometric series: 50, 25, 12.5 BTC etc will no longer be "enforced". Bitcoins, or more clearly, bitcoin blocks with different ages will then be traded at their relative market value. So the relative value of blocks may then become a smooth function w.r.t. age.
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Topic
Board Bitcoin Discussion
Re: Will bitcoin be the next Tulip Mania?
by
bitanarchy
on 11/02/2011, 11:30:43 UTC
So it is possible for a currency to be strong without the need for a lot of goods to be traded with it ?
I suppose, if the currency is backed by another currency that does have a lot of goods traded with it.
Bitcoin is a medium (or currency) to trade hard private currencies with. So this is good for the private currencies, because they will be used more.