71–80 of 105 posts
Earlier quoted context omitted.
(If it helps, I have some private information on this topic which ~100% rules out Swartz as Nakamoto, but I'm afraid I can't tell you it. If you don't trust me for other reasons, feel free to ignore my claim.)
Can you post a hash of the info for precommitment?
Earlier quoted context omitted.
I proposed a way of tying the difficulty level to the quantity theory of money a while ago on economics and alt currency forums of bitcoin talk. I think if you're going to be successful, you'll have to find a different set of early adopters. Bitcoin is as much ideological as anything, and while some people don't want to see another alt currency because of their level of investment, others just generally don't believe…
Doesn't Peercoin behave this way to some degree? http://en.wikipedia.org/wiki/PPCoin#Money_supply
Earlier quoted context omitted.
> I don't think inflation is a part of basic human psychology. Regardless of your thoughts, it is. Most jobs do not experience constant annual productivity gains, but everyone wants a raise at the end of the year and feels like shit when they don't get it. Nominal inflation allows you to give them a raise without impacting your bottom line. Win/win. Most merchants what to see their prices go up, it signals to them th…
Reply to rthomas: Nope. Most economists prefer low but stable inflation around 1-3%.
I think we almost all agree that cryptocurrency is a revolutionary thing. It's difficult to see how revolutionary, because we are only beginning to understand what can be made possible by it. I often see it compared to the advent of the early Internet in the 1980s, when nobody really knew how big it would get, just that it was "revolutionary" and would become huge. This may be an overestimation caused in part by bitc…
I don't like bitcoin, I hate that it has a fixed supply. I think in a good economy prices should fluctuate based on the supply and demand for the product (not the currency). Bitcoin as it is today doesn't really account for that. That said, I owned some, and I recently sold some. Going through bitstamp (in slovania) was a pain. Getting the coins in was a breeze. However the international wire transfer took days, and…
I am convinced that many problems with Bitcoin would be solved if we could come up with a way to tie mining difficulty to the currency's demand instead of only to the mining computing power. Instead of ensuring a predictable generation rate, this could ensure a predictable value . When demand wanes, the currency is harder to mine and becomes more scarce, and when demand surges, the currency becomes easier to mine and…
I proposed a way of tying the difficulty level to the quantity theory of money a while ago on economics and alt currency forums of bitcoin talk. I think if you're going to be successful, you'll have to find a different set of early adopters. Bitcoin is as much ideological as anything, and while some people don't want to see another alt currency because of their level of investment, others just generally don't believe…
I wonder if there is another community that would be more interested in such a currency's adoption.
Earlier quoted context omitted.
I don't like bitcoin, I hate that it has a fixed supply. I think in a good economy prices should fluctuate based on the supply and demand for the product (not the currency). Bitcoin as it is today doesn't really account for that. That said, I owned some, and I recently sold some. Going through bitstamp (in slovania) was a pain. Getting the coins in was a breeze. However the international wire transfer took days, and…
Why did you use Bitstamp when you were not in Europe? For me, in Europe, transferring money to Bitstamp was free. It took a couple of days, but that's fine. I'm assuming there are exchanges in your region that are cheaper to transfer to than a European exchange.
Earlier quoted context omitted.
> You could plan the rough change in value over time, and build it into the algorithm, perhaps making gains unlimited at first, then making it very deflationary for several years, and gradually easing gains to something like 0-2% deflation per year. You want inflation, not deflation. The value of the currency should decrease at a 2% clip per annum. This would make it into a realistic currency, where people get annual…
I can see this once it's up and running with a large market cap, but in my opinion you need the deflation in the beginning to attract users. There's much less of an incentive to use the new 'coin if it doesn't appreciate over time.
If the digital currency doesn't have any significantly attractive qualities outside its use as a store of value, it's a shitty currency.
If you can make a currency that people will use on a day to day basis, voluntarily, despite having 4% inflation (which is a much better target, economically -- the 2% is the weaksauce compromise with the anti-inflationists), then you've created something which has real utility.
I am convinced that many problems with Bitcoin would be solved if we could come up with a way to tie mining difficulty to the currency's demand instead of only to the mining computing power. Instead of ensuring a predictable generation rate, this could ensure a predictable value . When demand wanes, the currency is harder to mine and becomes more scarce, and when demand surges, the currency becomes easier to mine and…
Earlier quoted context omitted.
Why did you use Bitstamp when you were not in Europe? For me, in Europe, transferring money to Bitstamp was free. It took a couple of days, but that's fine. I'm assuming there are exchanges in your region that are cheaper to transfer to than a European exchange.
I'm not aware of any alternatives where I can get USD out. I suppose coinbase maybe, but bitstamp was recommended by someone here.