It seems some ability to script local bitcoin wallet actions would be useful.  For example, give the user the ability to add "rules" to the local wallet which specify operations such as

if local block generated, send to address X when it matures
if money received to account A, move it to account B
if money received to account A, send it to address Y

WARNING:  this topic is just a crazy idea, I don't even know if it makes any sense.  Please be indulgent.


Today I was again responding to the classic critic about bitcoin, concerning the initial distribution, which was accused not to be "fair".

As I have already explained it, I see no other way than using CPU power to distribute an electronic decentralised anonymous currency.  I have already stated that this is probably some kind of a theorem that could be proved:

"The initial distribution of an electronic currency that is both decentralised and anonymous has to be related to the distribution of CPU power in the network."


However, I came up with quite a crazy idea about an alternative way to distribute a currency in a fair way.

I'd call it the toecoin.  It's just a crypto currency like bitcoin, but with a tiny, and yet quite huge difference.

Every human being has the right to receive 2 toecoins for free, just because he is a human being.  That's the rule.  The currency is decentralised and anonymous, and thus, according to my theorem, it can not be purely electronic.

Here is how it works.  I am a human being and I have no toecoin.  This is not normal, and I want to claim my right to own two toecoins.  I wait for the next block to be found.  For the sake of the discussion I'll imagine that the average time for discovering block is one day, and not six minutes.

Ok, there is a guy who finds a block.  Now here is the first difference with bitcoin:  the guy doesn't receive a reward yet.  He publishes the block, with a spectial generation transaction, but this transaction doesn't worth anything yet.

I hurry and I go this guy's place, or some public place meeting address he published on the web.  I have some time to do so.  About 24 hours.

Here I am at the place, and I am not the only one.  Basically a whole bunch of toecoinless people who wants to claim their toecoins just as I do.  Now, the guy, because he has found the proof of work, he is granted the right to give 2 toecoins to anyone he wants, under one condition that I will describe later.  He could give them to himself, if he fullfills the condition.

Negociation start.  Everybody will promess to give a fraction of their new toecoins to the guy.  There is some kind of an auction which starts.  Let's say I'm the winner.  I promess to pay 0.2 toecoins.  Most people didn't agree to pay more than 0.15.  They'll have to wait an other day, an other block.

To have the right to receive the 2 toecoins (1.8 after I give 0.2 to the block discover), I have to do the following:

1.  I cut each of my little toes and I film the scene.  This will prevent me from getting more than two toecoins later in my life;
2.  I have to put the toes in a machine that will analyse the toe fingerprint and the DNA and turn the corresponding data into a unique ECDSA private key.  This will ensure that the created toecoins do indeed belong to the person who cut his toes, because it should be possible for me to have computed the ECDSA key in the past (I can analyse my DNA and print my fingerprints).  The whole process has to be public and recorded so that anyone can verify there has been no fraud.


This sounds silly, but my aim is to show how difficult it would be to distribute something in a "fair" way in a decentralised, anonymous manner.  At some point, I really think you would have to use people's flesh, meaning that the money can not be purely electronic.

Mining:
Subforums:

1) How to start\Faq`s, questions
2) Software
       1a) Windows (or Linux ETC based, dose not matter)
       2a) Other     (or Windows ETC based, on taste of moderator)
3) Hardware.
4) Pools related.
5) Other (rants, suggestions, conspiracy)

I made noise on several posts about lending liquidity to exchanges (because I found myself doing it involuntarily anyway.)  I got the following question:

  "Also, what benefits do you think holding a larger amount of BTC would have for an exchange? At this stage it just seems like a liability but I'd like to hear your thoughts."

My answers, most of which I pulled straight out of my ass just now:

1)  The primary thing I was thinking of was for futures and options, and that is what Jered (Tradehill) mentioned in his gracious response to my whining.  I think that CampBX was projecting something like a 50% margin which leaves need for some BTC to loan out to the (likely suicidal) trader.

2)  If exchanges have need to keep some sort of escrow in the form of BTC, it could be more convenient to satisfy liquidity needs from a different pool.

3)  The exchange could use it as working capital to fund expansions assuming there are not bound by "don't get high on your own supply" type regulations...if there are any regulations at all in this regard.

4)  An exchange, unlike almost any other entity, could give themselves a pretty healthy discount on conversion to 'official' currencies and they themselves fund different enterprises.

3 and 4 are basically a way for someone who has some excess liquidity in BTC to 'invest' in a way.

---

As for myself, I am neither a giant BTC holder, nor a very trusting person.  Before _I_ would do anything like this, I would want to see an established track record and a good bit of visibility.  I cannot see it being worth the time of any exchange, even if they had a need for the funds, to prove that they are trustworthy to my satisfaction.  Not for the kind of money _I_ have to play this angle at the present time.

I also cannot see there being enough value to be had to distribute much back to the 'investor'.  But who knows...I'm not an MBA (and indeed have no business or entrepreneurial experience at all.)

Hey folks,

Just wondering whether the following would word to avoid the income tax:

1. Receive Payments in Bitcoins
2. Buy Commodity using Bitcoins (such as Gold coins)
3. Sell Gold for Money

Where's my mistake or does it really work?

bosshyip

What happened to the adult site listings on the marketplace page? Why were they deleted?

So I'm looking at doing some basic little programming projects as I've finally found something with a small problem domain that I think I can solve.

I've seen some links to some bitcoin exchange value aggregators, that take the USD value from various exchanges and cut them together in JSON feeds.

Can anyone link me to this?  I can't remember anything about the threads other than these links, and I can't even come up with proper search terms to find them.

I want to write a little python program that grabs this feed and shows it in a nice little program.  That or a little android program that does it.  Either way it should be modestly rewarding and useful.

Thanks!

Hey all, this is my first post to Bitcoin. I don't get who or what creates the value backing the currency but I am always interested in money theory so I would like to investigate using it on my website. I've launched a quite different web directory that is set up to broker web traffic from website to website.

It offers free advertising but also offers opportunity to bid to get in higher positions. I would like to accept Bitcoin as payment but am having a hard time wrapping my head around distributing it as commissions.

You see, my web directory can be installed on any number of websites. Each site therefore contributes traffic. Each site also gets to offer paid positions for sale so the value of that position increases because the web traffic is aggregated. I pay each site 50% of the ad fee each and every month for any paid ads they sell.

So I would have to have them agree to get paid in non-redeemable-for-cash BitCoins right? They could use them to buy traffic themselves or buy other Bitcoin products from other vendors. Does that sound like how Bitcoins could be used on my site?