The thing about "only weak password accounts have to be reclaimed" is impossible, as the passwords are stored as hashes. Therefore MtGox can't know if a password was weak or not. So actually everyone needs/needed to reclaim.
(not saying this is what is/should happen)
It's not quite impossible. They can start with the assumption that all passwords are week, then when you submit your password for the first time, it can do the hash to see if is the right password, + also check the strength of the password at that time (since you just gave them the plain text password).
If it was a strong password they could unlock the account, if is was week, keep it locked and redirect the user to a claim site.
Inflation is not good for anyone except holders of debt. In fact, inflation and deflation are both bad. Better to have a currency immune to all of those things. It also enhances its value as a safe haven.
Inflation is good for holders of debt, but it also tends to (in small amounts), help make sure that the economy is vibrant - since if the money you hold today will be worth less in time, there's an incentive to spend it. Deflation give the reverse incentive.
Now whether either of these situations is better is a different question - and my guess is that Satoshi feels that the problems with inflation are greater than those with deflation, and that's why it's that way. It's a philosophical decision - that's all.
Based on no calculations whatsoever, I'm 98.3% positive that the value of BTC will be greater than or less than $5. So quick... buy or sell!!!
Just hold on to it bro. All we can do now is hope for the best, but if it does hit $5 by the end of this month I don't think it'll come back up.
I think that it's likely we'll see some more of a drop, but it could likely come back up in time - what it's going to take is a better economy outside of simply trading bitcoins for money. If/when we see more sites taking them for more 'normal' purposes, there will be more of an incentive to spend them. What's the final value going to be - don't know. But that's not something that we'll know for a long time - even if it goes through a long down period.
We may well be setting up a NameCoin pool soon as well !
That would be nice - it feels like the bitparking pool might be getting a little bit too concentrated. Always nice to see the hash power get spread around a little bit.
Post
Topic
BoardBeginners & Help
Re: What is your current BTC situation?
by
eleb
on 16/06/2011, 20:09:13 UTC
I've mined some, as well as purchased a little bit. Bitcoin intrigues me technically, I have no idea whether or not anything will come of it long term, but it's something that I don't want to have regrets later down the road about.
What if the Newbie forum fills with spam? What are us newbies to do then?
I think it's almost gaurenteed that the forums will get some spam - even if it's just so we newbies can get enough posts so that we can post on the main boards