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Showing 20 of 35 results by freeminer
Re: ANN: Announcing code availability of the bitsofproof supernode
You were "lucky" to hit the maintenance window our hosting provider announced and used.
Um, I tried to open it on Sunday and Monday and it was down too, so maybe you need to change your provider.
I also took photographs, but I need some time to process them.
What is this process of which you speak? Do the speakers need Photoshopping? 
At least I need to select the best shots and resize them, but now I'm going to go for a walk through the city, sorry.
There were guys from Bitcoin magazine, they took photographs, maybe also recorded video, I dont now. Also there were several cameras that recorded video. So I think that the records of speeches will be available soon.
I also took photographs, but I need some time to process them.
I also took photographs, but I need some time to process them.
Хочу пристроить системник с двумя 6990 за процент от намайненого. Раньше занимался сам дома, но по ряду причин теперь это неудобно. В итоге железо простаивает уже несколько месяцев. Кому интересно, пишите в личку.
Everyone holding the currency and especially those exchanging out?
I suppose that this foundation will set a minimum price and regular market price will be several times higher in average. Sometimes, in the case of sharp falls, they will be obliged to buy from the market, but not for profits or make others richer.
Of course this is a charity. But it will be advantageous to the main market participants. If they want to make profits in future they can make some donations for the stability of the foundations of their business.
I understand the ridiculousness of backing it with the promise of a goat. I do not understand why anyone would donate to make others richer.
What others? Supervisory Board?
What will be the benefits to the guarantor? Definitely they will want some returns on what they had put forth. Guarantee still requires funds to be locked up.
...or just assets and general wealth.
I hereby officially back Bitcoin with 1 goat.
Thank you for your participation. But promises are worth nothing. You can change your decision at any time. But public non-profit organization is a different case. It will accept donations and people who have donated will not be able to change their decision.
Therefore, the maximum market cap will be $2.73M? Bitcoin would never become mainstream when priced at $.13 each. I do realized that you're using that amount as the extreme minimum, but even that won't work. At that price, do you realize what a Satoshi would be worth? Guarantee a Satoshi at $.01, then now we're talkin'. I'll leave it up to you to figure out how much a Bitcoin would be worth at this bare minimum.
The purpose of this organization is not to set market price. It will set some borders and provide guarantees bitcoin sceptics. Everybody will know that they can get some USD for their bitcoins in a worst-case scenario. If it will have $10 millions it'll be able to guarantee more than 1 buck for bitcoin.
Perhaps we just have to advise people like we would an investment; only convert what you can afford to lose and keep it diversified as you should with cash.
Yes, but it's not the point. It is very hard to build a business independent of external currencies, as must pay suppliers, pay for rental of equipment and office, etc. Either way will be the bills that you have to pay in USD or other goverment money. Therefore, exchange rate stability is important. Otherwise, businessmen have to include in the final price a large fee for the risks.
I understand the reasons for backing them, I don't understand the reasons on why anyone can do it profitably.
I'm talking about non-profit organization created for market stability. This organization will accept donations in USD. Every day they will calculate current proportion between amount they have and total amount of BTC and set their price for BTC in USD. They will ensure that they can buy all the bitcoins at this price.
Only somebody as retarded as Atlas would come up with something like this. So hows it going old friend?
I do not understand your skepticism, my young friend. Do you have a better idea?
t's a nice idea, but has lot's of problems. For one, it creates a central authority...what happens when that authority is compromised (perhaps shutdown by a gov't)?
This organization will be absolutely legal as well as Wikipedia or Apache Software Foundation. It would be difficult to shutdown it. Also, there may be more than one such organization. For example one in USA, one in Europe, one in Russia or China.
Maybe better indicators would help people estimate the fundamental and speculative demand. That in turn might give some people more confidence that there actually are real support levels for the price of a bitcoin. I'm not sure exactly what kind of indicators would help however.
Yes, it's a good idea, we should think about it.
I understand the reasons for backing them, I don't understand the reasons on why anyone can do it profitably.
I'm talking about non-profit organization created for market stability. This organization will accept donations in USD. Every day they will calculate current proportion between amount they have and total amount of BTC and set their price for BTC in USD. They will ensure that they can buy all the bitcoins at this price.
What happens if the market wants 10 cents per BTC ? Everyone goes there to sell at 13 cents.. Until all the funds run out? Then it goes to 10 cents right after?
Could you explain what you mean by "the market wants"?
This organization will accept donations in fiat money and at least guarantees the minimum price on bitcoins. For example, if the organization took donations for the $ 1 million, it can guarantee a price not less than 1/7.5 = $ 0.13 per bitcoin.
It would only guarantee that minimum price if no more Bitcoins were being produced. In reality, to maintain the guarantee you would need additional donations every day or the value of that guarantee would drop as new coins were produced.
Yes, but it's not a problem. There are 7.5 millions of coins today, if this organization will guarantee for example $1 for bitcoin ($7500000 needed) then after 1 month with no donations it will be still able to guarantee 7500000/7716000 = $0.972. I think this is enough to ensure some stability. The fall of three percent per month is very different from a fall by 30 percent in one day like yesterday