Dice Rules to Help You Know Bitcoin Dice Game Better

Primedice & Bitcoin Gambling

Bitcoin gambling & www.primedice.com discussion. Find out why Bitcoin is the future of online gaming, betting & casinos!
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Integrate Asia Live Tech's Fan Tan Live Table to your Online Casino today

Now another edition to Asia Live Tech's Live Games is Fan Tan. Fan Tan is one of the Asia Live Tech Live Dealer products which is in high demand from Asian Players. Here is the good part, Asia Live Tech being the First Bitcoin iGaming Software Provider in Asia, all our live games are Cryptocurrency supported and enabled thus whichever is your preference of playing be it Fiat Currencies or Cryptocurrencies. Our games got you covered.
Live Fan-Tan is the ideal game for the Chinese market. The players must bet on a number going from 1 to 4 or a combination of them then set their stakes. The croupier, using beads, remove them from the table 4 per 4. The number of beads, between 1 and 4, decides which number wins.
As this game brings a bit of complexity on the table, we bring two versions that can be enjoyed by different players according to their gambling habits: the traditional version and the simple version. The simple version consists of three dices when the tradition version follows the classic rule set.
Live Fan-Tan is available through our Live Dealer products.
Read more at www.asialivetech.com

https://preview.redd.it/4r0bh3hopa341.png?width=800&format=png&auto=webp&s=ef1f5b99679e7c0585b6269f72e643c160de0e5a
submitted by ALT_OFFICIAL to u/ALT_OFFICIAL [link] [comments]

Integrate Asia Live Tech's Fan Tan Live Table to your Online Casino today

Now another edition to Asia Live Tech's Live Games is Fan Tan. Fan Tan is one of the Asia Live Tech Live Dealer products which is in high demand from Asian Players. Here is the good part, Asia Live Tech being the First Bitcoin iGaming Software Provider in Asia, all our live games are Cryptocurrency supported and enabled thus whichever is your preference of playing be it Fiat Currencies or Cryptocurrencies. Our games got you covered.
Live Fan-Tan is the ideal game for the Chinese market. The players must bet on a number going from 1 to 4 or a combination of them then set their stakes. The croupier, using beads, remove them from the table 4 per 4. The number of beads, between 1 and 4, decides which number wins.
As this game brings a bit of complexity on the table, we bring two versions that can be enjoyed by different players according to their gambling habits: the traditional version and the simple version. The simple version consists of three dices when the tradition version follows the classic rule set.
Live Fan-Tan is available through our Live Dealer and Live Player products.
Read more at www.asialivetech.com

https://preview.redd.it/zjo57w83f3x31.png?width=800&format=png&auto=webp&s=33bfc36d75b29a71d1ac0ee6d0e77781f9e8f807
submitted by ALT_OFFICIAL to u/ALT_OFFICIAL [link] [comments]

Integrate Asia Live Tech's Fan Tan Live Table to your Online Casino today

Now another edition to Asia Live Tech's Live Games is Fan Tan. Fan Tan is one of the Asia Live Tech Live Dealer products which is in high demand from Asian Players. Here is the good part, Asia Live Tech being the First Bitcoin iGaming Software Provider in Asia, all our live games are Cryptocurrency supported and enabled thus whichever is your preference of playing be it Fiat Currencies or Cryptocurrencies. Our games got you covered.
Live Fan-Tan is the ideal game for the Chinese market. The players must bet on a number going from 1 to 4 or a combination of them then set their stakes. The croupier, using beads, remove them from the table 4 per 4. The number of beads, between 1 and 4, decides which number wins.
As this game brings a bit of complexity on the table, we bring two versions that can be enjoyed by different players according to their gambling habits: the traditional version and the simple version. The simple version consists of three dices when the tradition version follows the classic rule set.
Live Fan-Tan is available through our Live Dealer and Live Player products.
Read more at www.asialivetech.com

https://preview.redd.it/u5ucf0dpqpv31.png?width=800&format=png&auto=webp&s=2639b682c97ac393ccbae4719e036431d9259184
submitted by ALT_OFFICIAL to u/ALT_OFFICIAL [link] [comments]

Integrate Asia Live Tech's Fan Tan Live Table to your Online Casino today

Now another edition to Asia Live Tech's Live Games is Fan Tan. Fan Tan is one of the Asia Live Tech Live Dealer products which is in high demand from Asian Players. Here is the good part, Asia Live Tech being the First Bitcoin iGaming Software Provider in Asia, all our live games are Cryptocurrency supported and enabled thus whichever is your preference of playing be it Fiat Currencies or Cryptocurrencies. Our games got you covered.
Live Fan-Tan is the ideal game for the Chinese market. The players must bet on a number going from 1 to 4 or a combination of them then set their stakes. The croupier, using beads, remove them from the table 4 per 4. The number of beads, between 1 and 4, decides which number wins.
As this game brings a bit of complexity on the table, we bring two versions that can be enjoyed by different players according to their gambling habits: the traditional version and the simple version. The simple version consists of three dices when the tradition version follows the classic rule set.
Live Fan-Tan is available through our Live Dealer and Live Player products.
Read more at www.asialivetech.com

https://preview.redd.it/npwcxvfs6xu31.png?width=800&format=png&auto=webp&s=ff0cc7004c68eed4ab19c186bb4ab9bbb3b8a55e
submitted by ALT_OFFICIAL to u/ALT_OFFICIAL [link] [comments]

Integrate Asia Live Tech's Fan Tan Live Table To Your Online Casino Today

Now another edition to Asia Live Tech's Live Games is Fan Tan. Fan Tan is one of the Asia Live Tech Live Dealer products which is in high demand from Asian Players. Here is the good part, Asia Live Tech being the First Bitcoin iGaming Software Provider in Asia, all our live games are Cryptocurrency supported and enabled thus whichever is your preference of playing be it Fiat Currencies or Cryptocurrencies. Our games got you covered.
Live Fan-Tan is the ideal game for the Chinese market. The players must bet on a number going from 1 to 4 or a combination of them then set their stakes. The croupier, using beads, remove them from the table 4 per 4. The number of beads, between 1 and 4, decides which number wins.
As this game brings a bit of complexity on the table, we bring two versions that can be enjoyed by different players according to their gambling habits: the traditional version and the simple version. The simple version consists of three dices when the tradition version follows the classic rule set.
Live Fan-Tan is available through our Live Dealer and Live Player products.
Read more at www.asialivetech.com

https://preview.redd.it/2kykz7cgzbu31.png?width=800&format=png&auto=webp&s=3f1cd0b1b713c3c82cb439e927bfa36c0a2e0dbf
submitted by ALT_OFFICIAL to u/ALT_OFFICIAL [link] [comments]

A.I. Artificial Intelligence in Blockchain and Bitcoin Technology Gaming

A.I. Artificial Intelligence in Blockchain and Bitcoin Technology Gaming
https://preview.redd.it/iijyhj5cdvj31.jpg?width=4468&format=pjpg&auto=webp&s=b4567dea48c87151e56c1dcd63105f63a3214d31

A.I. Artificial Intelligence in Blockchain and Bitcoin Technology Gaming

Can Humans Continue To Compete?

News headlines are shattered every single year with top level computer programming beating the best and brightest online gamers in society today. All across the globe, games that were once thought practically unbeatable not that long ago are being won by Artificial Intelligence (A.I.).
Whether that be board games such as the game of Go that ended up with Lee Sedol defeated by AlphaGo or some of the world's best Dota 2 players defeated by OpenAI, the world has been abuzz by humanity's newest overlords that are threatening to define what it can even mean to be human in the not too distant future.
And while many games have been defeated by A.I., not every game has been beat by computer programs. Generally speaking, for computer programs to win in the current environment, they need to be able to do a few things:

  • They need to have a clear set of rules
  • They need to know what proper winning conditions are
  • They need to be able to distinguish good from bad
  • The search space for games needs to be somewhat limited or redefined

Should We Welcome Our New Robot Overlords?

With the above list of rules, it can be relatively easy to take a look at the game of chess. The amount of moves that are possible in a game of chess are in present day computation relatively impossible to compute since there are simply too many possible moves. The search space is simply too big. So the search space needs to be pruned algorithmically so that the computer can search moves more efficiently and decide which moves can even make sense to look at to save time and processing power. Secondly, it needs to know which moves lead to winning outcomes. With the pruning techniques, winning conditions and help from Google's AlphaGo Zero, the world's strongest chess engines emerge with an unbelievable understanding of the game that almost begins to transcend conceivable human understanding.
However, A.I. bots can be weaker in various scenarios in today's world although still have a reasonable grasp as to what is going on. With games of incomplete information, games where not all information is visible to all players (for example, Poker), A.I. presently may struggle a little. This problem, however, is quickly being solved by top level A.I. programs by operating under the assumption that incomplete information games, given enough information, converge on complete information scenarios based on a distribution of outcomes of possibilities that a smart opponent may even engage in.
A.I.s have been targeting games with incomplete information which include, but are not limited to, Dota 2, Starcraft 2 and Poker to name a few.
The problem then grows further when we apply what the A.I. consequences are relative to Bitcoin gaming and Blockchain technology. Incomplete information games are a smaller scope of what can end up being the “games” played in the reality of real life scenarios for human beings and the optimal decision making that exists therein.
When it comes to Bitcoin gaming in particular, in order for it to thrive in the real world it needs to be somewhat impervious to A.I. technology which is undoubtedly tough if you consider the bleak outlook of what has been discussed so far. However, there are solutions, even if they may be temporary in the year 2019.

There Are Some Short Term Strategies

The best way to allow Blockchain online games to thrive in today's economy, moving into 2020 and forward is to base the Bitcoin games on a few different theoretical concepts which include:

  • Make the win conditions not very obvious and hard for computer programs to define
  • Make the rules extremely noisy
  • Hide as much information from bots and humans as possible
  • Make it difficult for bots to strategically determine winning vs losing conditions
With all of those conditions in mind, you can then start to draft games that at least challenge A.I. technology and can allow humans to play against each other in proper Blockchain games / Ethereum games and not play solely against outwitting bots.
To wit, MintDice has a strong focus on the development of Bitcoin games that will be slightly difficult for A.I. to solve, so stay tuned and keep in touch with MintDice's Casino Bitcoin roadmap development.
At least three skill games will be developed by MintDice with other skill games planned for future development depending on the overall engagement by the Bitcoin community. If there is demand for proper Bitcoin games of skill, the MintDice Bitcoin Casino will be happy to continue to produce exceptionally high production value games for the community to enjoy and play against each other.
It is a war against the bots, and not one that we can win in the end, but one we can have fun with for at least the next few years, we hope :)
submitted by MintDiceOfficial to MintDice [link] [comments]

[Index] Scaling Conference Overview: Day 1

Conference Topic \ Speaker \ Time Link
Privacy \ Fungibility
Scalability
Smart Contracts
Proof of Work
submitted by KarmaNote to Bitcoin [link] [comments]

How to bet efficiently on Satoshidice and why you shouldn't use the martingale method

With Bitcoin and Satoshidice or similar websites, gambling has become easier than ever. I am sure that many of you will try it out at some point even if it is only for one bitcent.
This also means that there'll be an influx of people who have never gambled in their lives and might take very bad decisions. This small guide is to provide an introduction to the odds offered by Satoshidice, and specially how to gamble if you're a practical person like me.
The house always wins
It is impossible to beat Satoshidice. This is the first rule you must learn. Whatever happens on that site, as long as it keeps running, it will make profit from the small advantage it has on each bet.
This also means that in the long run you'll be losing money and that if you kept playing forever there is no way you would make a profit. Assuming that you're a practical person like me and that you play to win some money (not only to lose it) then it is necessary that you stop at some point. The sooner, the better.
What is the Martingale method and why you should avoid it
The Martingale method is a very popular betting system that will eventually bring you more grief than pleasure because its design often causes players to spend more than they are willing to bet just to recover the initial investment.
Let's assume you're playing at 50% odds. The strategy you would have to follow, according to Martingale would be to bet always the same amount if you win, and keep betting double if you lose.
Let's say I bet 1 BTC and I win. Good! Next time I'll bet another BTC... but I lose this time. In order to recover from the loss and still make a profit I should bet double next time, which would be 2.
If I win the 2 BTC bet I will have won aproximately 4 BTC. Since I have made a total investment of 3 BTC (first bet + second bet) and won 4 BTC I have effectively recovererd all my previous bets and still made the profit I wanted in the first place.
So... Where's the problem?
First of all, you need to remember that even if you had huge funds and there was no Maximum bet that in the end you would still lose a small percentage of your total investment due to the house advantage.
But that's not all:
To see how fast and easy it is to reach the Max bet, you must remember that the bet increase will be exponential. Usually on the 50% bet on Satoshidice the Max Bet is 250 BTC.
We'll assume we're starting with a 1 BTC bet.
1 BTC - First Bet
2 BTC - Second Bet
4 BTC - Third Bet
8 BTC - Fourth Bet
16 BTC - Fifth Bet
32 BTC - Sixth Bet
64 BTC - Seventh Bet
128 BTC - Eigth Bet (Last bet)
~256 BTC - Out of limits!~
Assuming you follow this method, you could lose 7 times in a row and then recover all your investment + make your original profit of 1 BTC by winning on the eigth time.
The chance of winning during one of those eight times before you hit the limit is 99.6%. But just take a look at what you are really doing and why there is no point in Martingale:
By the eigth bet you will have made a total investment of 1+2+4+8+16+32+64+128 = 255 BTC just to win one miserable BTC. Assuming that you have the money, you'll be betting $3442 just to win a little less than $13.5
Of course the odds of losing are very low and they will be even lower if you start with 0.01 instead of one whole bitcoin... but were you willing to bet so much money in the first place?
And trust me, if you keep doing this it will bite you and you'll end up loisng much more than you ever intended to bet. Here's a nice video of a guy who tries to show it live and miserably fails and loses.
Let's roll back to the first example and take a look at what happened:
First bet: 1 BTC - We lose
Second Bet 2 BTC - We win 4 BTC
What are the chances of winning the second time? 75%
What is our investment/return ratio: 3:4
It is exactly the same to bet 2 times on 50% using Martingale than just placing a single 75% bet. If you were willing to bet and risk 3 BTC with 75% chance in order to win 1 additional BTC, why didn't you directly place a 75% bet?
What Martingale does is pushing you always further to risk money you didn't want to risk in the first place.
How to bet efficiently
  1. Determine how much you're willing to lose on a single day.
  2. Determine how many different days you'll probably be playing.
If you're an avid gambler and you know you're going to play many games, then it is possible to bet on low odd games because you know that if you lose one time there will probably be another time in which you will break even or even make a slight profit.
If you don't gamble often, then you should stick to the high odd games. You know that if you lose you're probably not going to be back tomorrow in order to keep pushing the odds, so it is important for you to make a profit as fast as possible.
Now that you know this, place your max bet, all or nothing, on the virtual dice table and cross your fingers.
If you win: Horray! You have won Satoshidice! You have made a profit even though the odds were against you. Now stop playing. Forever. Of course you could continue playing and try to maximize your profit, but remember that each time you visit Satoshidice the chances are that you will lose a small percentage of thet total accumulated investment and that you'll never make a profit.
If you keep playing, you are bound to lose. It is only a matter of time. Also, remember that the more you bet, the more you will end up losing.
The only way to make money from satoshidice is in the short time.
If you lose: Don't try to bet double or to recover that bet by betting more than you were willing to lose in the first place. You will only be fooling yourself.
Close the website and return another day when you've got more money that you are willing to risk. Remember that if you keep playing, odds will be against you and that it is possible that you never recover your initial bet investment or even make a profit.
If you keep playing in a regular manner, it is probable that you recover that amount but it is not certain. That is the reason why you should always bet money you are willing to lose.
Question: Why would you want to bet it all at once?
If you're playing for fun then you might want to split the amount you're willing to risk and make several smaller bets. But in the end it is exactly the same.
Don't fool yourself thinking that by making smaller bets you are increasing your luck. Remember that in the end it is exactly the same as placing one big all or nothing bet.
submitted by DanielTaylor to Bitcoin [link] [comments]

Viabet . ICO.

World’s First Cloud Betting Casino
Experience a new revolutionary approach to cryptocurrency gambling and peer-to-peer sports betting.
https://youtu.be/8hFarh965LA
VIABET is a cryptocurrency based cloud betting platform, casino and peer-to-peer sports betting site. We act as the technological launching pad that allows regular players as well as gaming companies to create and launch their own casino games. You create the games, we launch them, we promote them. We share the profits with our token holders
The platform enables online players to bet against other online players, where one player acting as the casino is given the house odds. For example, a player is able to open a roulette table, or open a slot machine while other users play against him. The player enjoys the same odds and will profit from the slots and table profits as if he was the casino.
ECONOMY
Become part of a $50 billion dollar industry. Online gambling is one of the largest and most rapidly expanding industries today. With at least 50% of the global population participating in some form of gambling every year.
SYSTEM FOR EVERYONE
As Steve Jobs said, “You have to start with the customer experience, and work backwards to the technology”. At VIABET, we very much believe what the great founder of Apple has said. Simplicity and intuitiveness is in the core of our platform.
VIA
The driving force behind VIABET. A cryptocurrency based on the Ethereum technology that allows us to create a fair, autonomous cloud-based betting environment for all users. Limited, locked supply, and no dilution.
CLOUD BETTING
If you can’t beat them, join them. Create your own games, your own rules. An exciting new system that enables online players to bet against other online players, where one player acting as the casino is given the house odds.
THINKING “BIG”
As history shows, most first-movers are rewarded with huge profit margins and monopoly-like status. Our ultimate goal is to become one of the largest gaming platforms in the world.
Following launch, our platform will include P2P sports betting, dice games, poker tournaments, as well as other provably fair casino games such as Roulette and Blackjack.
We will support multiple cryptocurrencies including: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin.
Site https://viabet.io
Whitepaper https://viabet.io/viabetio_whitepaper_v1.pdf
Bitcointalk https://bitcointalk.org/index.php?topic=2323680.0
Twitter https://twitter.com/viabetio
Facebook https://www.facebook.com/viabetio
My Bitcointalk account https://bitcointalk.org/index.php?action=profile;u=1184171
submitted by Aivaryamal to ico [link] [comments]

Tor functional, bitcoin Casinos?

Hola Bitcoiners of Reddit! Would you mind posting some Gambling/ casino sites for me please? Im looking to play a bit online, but I can't seem to find a non-Javascript operating games.. Maybe Im just to bad at searching though. Also, note. I don't like dice games etc, I prefer live playing with other people. Favorite games include Texasholdem, or maybe classic poker or blackjack. Hope I'm not breaking any rules here. Feel free to PM me if you prefer so.
Thankya all.
submitted by 010406 to Bitcoin [link] [comments]

Bitcoin Fantasy Football Leagues

Do you love Fantasy Football? Do you love bitcoin? Why not combine the two into...Fantasy Football!
Setting up a couple leagues with bitcoin Buy Ins. Here's the deal, Nitrogen Sports has offered to escrow. There will be no cut taken from the prize, this is purely offered as a fun activity and also knowing that there is no funny business with the prize pool.
Here's how to enter:
Here's the good stuff for each league:
  1. Draft will take place Wednesday September 3rd at 9 PM EST in all leagues. Your team will of course be auto drafted if you can not make it.
  2. Each league will be 10 teams with Standard scoring.
  3. There will be 7 bench spots.
  4. There is NO trading. It would not be viable in a league like this to properly review trades.
  5. There will be waivers.
  6. All leagues will pay out top three finishers. The prize pool split will be 60%, 30%, 10%.
  7. Yes, I will participate in some of these leagues as a team manager. I will have commissioner powers but will only use them in cases of inactivity or error corrections. Collusion will be dealt via the rules outline within the league.
  8. Here's an example league to view the rule set being used. Very basic.
  9. If the league does not fill up, the entry fee will be sent back after draft day. So PLEASE use an address that can receive funds back. Do not send from dice/gambling websites. If you use Nitrogen Sports simply transfer to the #50 escrow account.
League #1 .05 Buy In, .5 BTC Prize Pool HERE
League #2 .1 Buy In, 1 BTC Prize Pool HERE
League #3 .25 Buy In, 2.5 BTC Prize Pool HERE
I will make more leagues if these fill up or if there is demand for a different entry fee.
Please feel free to post questions/concerns!
Disclaimer: Nitrogen Sports has agreed to hold the prize pool for this event and pay out the agreed upon winner at the conclusion of the contest. They will not be involved in settling any disputes, nor are they responsible for upholding the rules and regulations of this contest.
submitted by stander414 to nitrogensports [link] [comments]

Nyancoins Megapost - Central Link Collection

Edit: Going to finally start an overhaul on this (April 23rd, 2016); it's been six months since the last edit. I'm going to go from current back, so there's going to be a gap between this top, new stuff and what's below until I finish the update.
I'm just going to have the last six months all shoved together into one large update here. There's weak categorization, but basically just think of it as a huge list. In general, the newer items will be higher within a given category than the older items. I apologize if I left anything out which people would like to see included. Some things I considered more of a temporary update than something relevant months later, but just PM me and I'll add anything requested!
We're currently in a quiet low point. Nothing catastrophic is happening, but we are relatively weak. I call it "the best nadir" because if this is as bad as it gets, we're doing alright. The price is down to 4 satoshi now, which is the lowest sustained price since the beginning of the revival. I'm going on a year behind my original goal for releasing NYAN2, still stuck on a new build computer (alternately time and energy to cripple together a build system out of what I have available).
One major new element: I've set a goal for us to have a mission to visit the site of Apollo 17 in twenty years. This is basically a new dimension. For the first ten years, I envision this as a purely "paper program", doing research on past space programs, in particular Mercury through Apollo, but any and all launch platforms and spacecraft which have been done. We may additionally seek to gain additional education (for instance, I would like aerospace engineering and material science undergraduate degrees at a minimum; we also are going to need experienced test pilots).
Space Program Initial Vision: [NYAN 2035] We must send a mission to visit the site of the Apollo 17 plaque on the Moon
Also, I've replaced the previous "Nekonauts of the Month" competition with a "Who Wants to be a Nillionaire?". The major difference is that rather than relying upon me to track everything, the expectation is that Nekonauts will sign up and self-report accomplishments.
Nyan Projects
[Hype] Browser based MMORPG accepting Nyancoins for member items: KojoSlayer's latest foray into nyan video game development! I've seen an early preview and it reminds me of a primitive Runescape (meant as a compliment)
Fun Posts
Insert NyanDisk 1 into Drive A:: NyanDOS!
Nyan like it's 1999 ....: telnet into nyan!
[breaking news] Nyancoins will be bought out by Garza in a last-ditch attempt to save Paycoin - April fool's post
Trumpchain on Twitter: "It can happen. Our blockchain has tremendous potential. We have tremendous people. #MakeTheBlockchainGreatAgain" - Terrific shitpost; really fantastic!
Join the Nekonauts today! - Cool nyan poster
"I really hope Satoshi is finally dumping and declaring that, like, Nyancoin is the true bearer of his vision." - CountOneInterrupt - My favorite idea ever
Nyancoin Zen - So cute. This may be my favorite nyan image ever for its understatement and beauty.
High Definition Nyan up close - Amusing
Making PC more Nyan-Friendly! - cute; amusing. Such nyan!
Typical Nyancoiner breakfast. - DobbsCoin is great with this stuff!
[meta] [misadventures of coinaday] [Pizza Boy Adventures] Late Night Pizza - Just a little choose-your-own-delivery I wrote during my stint as a pizza delivery boy.
I don't know how I wasn't aware of this site before - I still can't believe there's an entire site for this!
Get NYAN
Want more NYAN? Faucet Mrai and trade to me for NYAN (and then hodl!): What is says on the tin. The faucet is down temporarily at time of this writing, but it'll be back up before I update this section likely. The price offered there is low (mailing list mentioning 200-300 satoshi currently; my offer is worth about 2 satoshi currently); I would consider higher, but probably wouldn't pay those apparent market rates (no actual exchange yet).
Force Multipliers
Content about the difference a determined person can make. Intended as inspiration.
[Force Multiplier] [Original Content] [pdf; 23 pages] Archimedes and the Siege of Syracuse - Previously unpublished paper I wrote for a history course in college.
[Force Multipliers] [Military History] Julius Caesar's Greatest Military Victory (Video; 10 minutes) - An explanation of achieving victory in an apparently unwinnable situation.
[Force Multipliers] [Naval History] Korea: Admiral Yi - I: Keep Beating the Drum - Extra History - Incredible loyalty and dedication from this greatest Admiral saved his country
Philosophy
Content which fits the themes of fun, self-improvement, and service to others.
Wikipedia essay: WikiLove - I think Wikipedia's policies are in a lot of ways something to look up to. It's true that they're stuck in bureaucracy now, and have driven away many experts, but they function and their policies have helped to give some structure to the anarchy.
[US history and macroeconomics] [59 minute video] Thom Hartmann, "The Crash of 2016" - Interesting video. I think the predicted outcome is something of a longshot, but it's interesting to me that he called Sanders as a major factor in the election years ago.
Taylor Mali, "Words and Their Consequences" (68 min video) - Poetry and philosophy
We Are One - Didn't get any attention at the time, but this is a general statement about the power of people working together.
A Message of Hope for the World - What's the point of Nyancoins? To inspire people.
A brief word on censorship - tl;dr: Censorship is bad, m'kay?
Who Owns Nyancoins? - Hodlers.
To The Moon is Not Enough: 100 Year Planning - About the importance of an unlimited time horizon. We build to last.
General
Catch-all category. Okay, this category got out of hand. I should do a second round later and break this out into a few different ones.
The best argument I've heard so far for keeping the 1MB cap in Bitcoin - I still think it would have been better for Bitcoin to grow, but this is the strongest argument for its stagnation in capacity that I've seen.
[conceptual design] How we should expect 100,000 transactions in a minute (or second?) to be handled - This is about the idea that we should expect to be able to handle large loads without crashing. Pretty basic. Related to an /cryptocurrency post I'd made: 100,000 Transactions Per Second: How Do We Get There?, which gives a very high-level overview of one way to reach high throughput capacity using blockchains.
Interesting cryptocurrency to try: raiblocks, protocol without transaction fees or block rewards - I think Raiblocks will be a valuable "companion coin" to Nyancoins ultimately. I don't know how exactly that'll work, but I believe that good cryptocurrency communities should make alliances. If nothing else, we can be valuable to each other as the "loyal opposition", critics who want to see success.
Coin-a-Year: Nyancoin : link to /CryptoCurrency post - Summary of the first year or so of NYAN revival
[far future concept] Nyanshares, Nythereumbits, and all-in on 37 rainbow - A double post: first part describes a possible spin-off, hybrid, 'companion coin' we could make in future years. The second part talks about what a gamble NYAN is.
NyanCoin compilation guide and downsizing nyan.space / NyanChain [semi-meta] - Has a link to a guide for compiling nyancoind on servers.
[meta] [misadventures of coinaday] Stuck in the Dihydrogen Monoxide - Another in a series of coinaday posts proving "play stupid games; win stupid prizes"
[Data] Faucet Stats - KojoSlayer's faucet stats
Thing to do a thing that can't do that thing.... - Bit of code for pulling BTC/NYAN feed from Cryptopia.
Fresh builds, coming up! - initial report from vmp32k on attempting to modernize the codebase
DigiShield - suggestion for different difficulty algorithm
BIP101 implementation to be made available for altcoins - prohashing announcing that they will have a Scrypt BIP101 implementation; this is planned to be our base for NYAN3
Year 1: Acquisition and Triage ; Year 2: Acquisition and Build - Optimistic; in reality, year two of the revival has largely been me just trying to survive. Hopefully more acquisition and build as the year goes on.
[technical] [financial] Price Stability and Consistent Hashing - Basic theory. If we have consistent prices, we'll have more consistent hashing.
[technical] [forking] [NYAN3] Should running old defaults be considered a vote against a hard fork or should the veto need to be explicit? / General voting discussion - What it says on the tin. I haven't gotten feedback on this yet. It's far in the future, but I think it's a critical question. I'm not sure which way is correct.
2015 in review: overview - Initial summary of the previous year; written before the Coin-a-Year post which did similar
[meta] [finance] [misadventures of coinaday] Paying Debts - Since writing this, I've gone further into debt. I need to get my personal finances together this year, for my own sake, for the sake of those I owe, and for the sake of Nyancoins.
Countdown to the Second Halving - The current block is 1168851 as I write this; we've got less than 350,000 more blocks until the third halving!
I updated the major risks page for Nyancoins to include mention of the fork bug and 'time warp'. Please review and comment. - bolded for visibility; I consider the risks document and making sure that we inform potential buyers as much as possible to be a critical requirement for us
[technical] [security] Time warp, fork bug, disclosure policies, and practical results: a working system despite flaws - Discussion of the success of Nyancoins as a working system despite its technical vulnerabilities.
Zero Fees (*) - Discussion of the role of zero fee transactions and why I consider them important
[finance] [meta] [Misadventures of coinaday] overdrafts and consequences / Cryptopia 1sat Dump - Discussion of my stupidity and its consequences on Nyancoins' financial health
[technical] NIP 1: Base NYAN3 on XT - I consider this critical. We will make a statement about not following the path Bitcoin is currently going down. This is not urgent for us because our activity is so low, but it will be part of building a strong foundation for the future.
Hodling Update: 30% - I haven't done the math recently. I'm probably within 5% of this, but I don't know if I've gone up or down. I haven't given away a whole lot, but I have put no new money into Nyancoins for months from being so broke. I've still gained some millions more from when my 5 satoshi bids got hit though.
[finance] Up? Down? Horizontal? - Considering 30 - It's pretty sad how far we are from 30 satoshi now (4 satoshi at the moment). I believe we'll get it back ultimately, but the revival certainly hasn't had the financial success I'd hoped.
Dice soft launch - Not sure of the current state here. Check with KojoSlayer.
State of the NYAN October 2015: An interlude for gratitude and yearning for more - I should get back to doing these monthly eventually. Right now it's quiet enough that there doesn't seem to be a real need.
[financial] NYAN vs DOGE as a long-term store of value - What it says. I believe that the lower supply inflation and smaller supply of NYAN will ultimately lead to NYAN trading above DOGE (currently trading at less than 10:1).
[finance] [stats] [gaming] Breaking the Bank: Risk-of-Ruin, Dice Games, and Basic Logic - I'm pretty proud of this one. By having more money than god, and a screwed up default max bet rule, I was able to beat the house. 8-)
100M - Talking about the remaining supply and the implications.
I think I'm done with this update (at least getting the new content in; I have not changed the old text and content, which is everything below).
Since I can only have one thing stickied at a time, but there are a lot of different things going on, I've switched over to having one main link collection post. And this is it.
I'll update this periodically (I'll try to do a major update once a month) and might replace it at some point. It'll have general discussion of the context behind why these various threads are significant.
I'm doing August and September together for Nekonaut awards and updates here since I got a bit busy at work. NYAN2 is released as a first-draft, but I haven't built it yet (nor done final changes and fixes). I need a computer with more RAM than what I have available to me now. However, I'm quite satisfied with the performance of NYAN1.2, ancient though it may be, so I'm not treating it as an emergency.
The biggest news is that we are now listed on cryptopia.co.nz ! They are a great community and provide better ecosystem support than most exchanges: they include a pool and explorer along with the exchange. And their exchange has a lot of basepairs, with NYAN/BTC, NYAN/UNO, NYAN/DOGE, and NYAN/DOT being relatively active, NYAN/LTC being quiet, and the other two (popularcoin and feathercoin) being unfamiliar to me and generally unused.
Oh, also, when I've taken a look at it, the Nyanchain seems to be running smoothly. I haven't been watching too closely, but the status page is usually showing all green. I especially like seeing the high number of connections (generally close to 30). [Comment from July version; still accurate. I should get automated metrics on the Nyanchain someday, but in the meantime, it seems to be moving pretty smoothly anecdotally.]
Top stories from August and Septemberish
Nekonauts of the Months, August and September 2015 - Combined awards, three awards for 1M as a result, and such. Just check it out. :-)
New IRC channel and tipbot - This came about during the listing process; we are now at #nyan2
WE ARE LIVE! Cryptopia added us just now!! - Culmination of the process of getting listed on Cryptopia. After leading in user votes and DOT votes after the first couple days, the admins decided to add us. So as I count it, we won three votes. :-)
Looking good on Cryptopia so far - My early reaction to the exchange.
The past few days. - Repost of a classic, which is always a good idea in NYAN, given our rich archives.
Miners We Need YOU! - Brief discussion by KojoSlayer about the importance of miners to the Nyancoin ecosystem.
Nyancoind Dockerfile (for the tech-nyans) - Cool demo by vmp32k
Nyancat all up on your Vim command line. - Cool xpost from /vim.
[financial] I hit a positive balance on Cryptsy-NYAN again - I started buying on Cryptsy. I've since withdrawn from Cryptsy and am working on eliminating my balances there, but I've got a lot of altcoins to consolidate yet.
100M - A discussion of the remaining supply to be generated (now under 100 million more coins)
Top stories from July
Gitian Build Instructions - !!! This is exactly what I was trying to figure out. With this roadmap, we should be able to help others build *coins with gitian as well as provide a solid introduction to our own community members. This should be linked and submitted for feedback elsewhere; I should report back to the Litecoin thread with a link to this for discussion. I cannot overstate how important I find this contribution.
Nekonauts of the Month, July 2015 - Still going with this. I may not always get this perfect, but I hope that it will help add some motivation and recognition to the community who is building the next generation of Nyancoins.
Ɲyancoins for Nekonauts! [designs] - Some logos and concept art; a start by W7phone; we hope to see more of this type of thing!
[hypothetical] What would it take for us to be able to start our own Nyan exchanges? - tl;dr: Let's get setup on some decentralized exchanges!
Linux Nekonauts: Building nyancoind - I should get this in the sidebar somewhere. An excellent first post by gentlenyan !
Top stories from June
Nekonauts of the Month, June 2015 - Latest round of awards; I plan to keep doing this each month for as long as I can
[community] You are a leader of Nyancoins / Herding Cats: Leading Leaders; Leadership in a Decentralized Community - A discussion of the importance of you to the success of Nyancoins
vmp32k launches a beta of a faucet - When is this going live?
kojoslayer launches a faucet
Various post on mining being stuck - we are still a bit spotty, but it seems like it might be a bit better. We could use something more than just an instantaneous status page; if someone wants to make something which does statistical analysis of the performance of the nyanchain, that would be awesome.
Broke through the 40 satoshi ceiling, and Plagiarizing great speeches in history and claiming to have a community mandate: Coin-a-Day writes inspirational pap as we stand on the verge of breaking through the 50 satoshi ceiling and envisions the glorious future ahead - and rather more. The price dipped back down on Cryptsy since, but we had a nice rise for a while. I'm hoping that when we get an exchange we have confidence in, we'll see more buying again.
Warning: Cryptsy does not process large NYAN withdrawals - This is why I recommend not using Cryptsy; plus this
Top stories from May
First off: Ɲyancoins needs YOU! - This is a discussion of how all of us have something we can do for Nyancoins, and how improving your own life is absolutely one of those things.
Nekonauts of the Month, May 2015 - This is my first month running this competition. I'm looking to recognize people who are active and contributing to the community and to give them NYAN to help further whatever they'd like to do next.
The network is stable! - Thanks to a new miner, spydud22, we are showing all green on status!
Wow, very large chunk of NYAN at 40 satoshi (6 million) - The title is outdated; there's about double this volume now. [Edit: And now the title is accurate again.]
Initial notes and thoughts on the Nyancoins client update - I've identified the approximate version of Litecoin that Nyancoins is based on and looked at a diff. It looks reasonable and do-able. I haven't yet looked at the latest branch on which I'll apply these changes.
Nyancoins 2.0
https://github.com/mathwizard1232/nyancoins/tree/nyancoins2 - first draft of NYAN2
(intentional duplication from top stories for July; I consider it that important): Gitian Build Instructions - !!! This is exactly what I was trying to figure out. With this roadmap, we should be able to help others build *coins with gitian as well as provide a solid introduction to our own community members. This should be linked and submitted for feedback elsewhere; I should report back to the Litecoin thread with a link to this for discussion. I cannot overstate how important I find this contribution.- earlier working notes
Cross-platform Gitian builds - Discussion about getting Gitian builds to work for Mac without access to a Mac.
Initial notes and thoughts on the Nyancoins client update - Right now I haven't had time to do much more on this, but I need to work on doing the Litecoin gitian build yet.
Gitian Build - jwflame's initial notes on trying the gitian build
DLC
Distributed Library Coin; stealing^Wrepurposing the ideas of others - Introducing the concept; basically a virtual lending library for the community; Learned Optimism is offered.
[DLC] Siege of Earth - Second post, offering Siege of Earth, a classic sci fi tale
Minecraft
[Idea] Minecraft NyanCoins - KojoSlayer is making a cool Minecraft Nyancoins faucet sort of thing (get Nyancoins for playing Minecraft).
[Sneak Peak] Nyancoin Minecraft Server - This project is moving forward quite quickly! See also /NyanCoinsMC for more information.
[Beta] Launch Nyancoins Minecraft Server : NyanCoinsMC - BOOM! I'm amazed at how quickly this has gotten setup. Go check it out!
Background / theory
Overview of major risks of buying Nyancoins - I've tried to collect every risk I could think of in this one place. This is important reading before investing.
Nyan's core principles and why they matter
draft one of Cold Storage 101: How to secure your coins for long-term hodling - I need to incorporate the suggestions still, but between the article and the comments, this is decent.
I will work harder: in which Coinaday reports for duty - My statement that this is going to a new level for me: I'm considering this my dream job now, rather than just my hobby. I'm dedicating myself to serving this community as best I can.
[community] You are a leader of Nyancoins / Herding Cats: Leading Leaders; Leadership in a Decentralized Community - This is a discussion of the importance of each individual, in particular you, to this revival.
A really good read about fiduciary duties in running an exchange - discussion of the responsibility one takes on in managing money for others
[rant] In response to "there is only BTC [and maybe LTC [and maybe DOGE]] AND DEFINITELY NOTHING ELSE MATTERS" - Possibly amusing rant.
My most worthless and most valuable coins: Comparing DIME and 42 - A discussion about interpreting spot price in context
[theory] Bitcoin discussion of hard forks - Talking about the risks involved with a hard fork
Rooting for LTC's Rally to Hold: Nyancoins and the Cryptocurrency Market - Nyancoins do not stand alone. Although it's easy to see the rise of another cryptocurrency as weakening us, because we might trade lower against them temporarily, I believe that a stronger CryptoCurrency market as a whole will be important for our long-term health.
[financial] Cryptocurrency valuation models: Considering Nyancoins as a zero-coupon bond against the community
Classic Posts
Why Nyancoin will hit $1/NYAN (and much more). We're going to space, and you're invited! - This is an infamous post by americanpegasus. I believe it was actually someone mocking him in /bitcoin by linking to this which first made me aware that Nyancoins existed, and got the idea in my head that it was a deadcoin (from seeing a post/comments on the sub at the time which claimed that). So the dream of this post was actually so bold that it brought it back from the grave, because it was bold enough to be mocked, and that mockery eventually led me to investigate it, and that investigation led me to fall in love.
1Ɲ >= 1Đ - This is a vision I have, that we shall rise above DOGE. This is not a dig against DOGE but merely a statement about the growth I expect to see us have. There are about 500x as many Dogecoins as there are Nyancoins, so even if we remain significantly smaller we can easily pass their unit price. We've done so briefly previously but are currently below this mark.
We choose to go to the Moon - This is my manifesto about why I am doing this. Cribbed from JFK's moon speech, it is meant to express that it is because of, not in spite of, the challenges that we face that I am here. This started out as a personal challenge. While I certainly would like to get rich off of this, the reason I chose to pursue this is because if we do then, then we're awesome badasses that people can be impressed by.
The original Nyancoins intro video - wasn't really sure where to categorize this
Older stories
I'll move stories down here as they get older. For now it's the block stoppage stuff as that seems to have stabilized.
Holy shit, 22 hours since the last block. At this rate, I'm going to have to start solving hashes by hand... - This was my post about the block stoppage.
Difficulty has spiked again; if we hit another stall I'll try the transaction fee trick again - Another block stoppage, and a record of my attempt to use the same trick to break it loose again (transaction fee incentive).
I'm ready to give up on life; in which coinaday finally has his full-blown mental breakdown. So long, and thanks for all the rainbows! - My personal mental breakdown. Just listed here because it made an impact. Also, it was an amazing response from the community which meant a lot to me.
Fuck it; encore une fois - My reaction afterward, saying that I'll give things another shot.
GFS
Disregard the below: GFS has been down for a few months and probably won't be back. At one point, this project had been offered to me, and perhaps I should have taken it, but I felt like I was already heavily committed here and couldn't take that on as well. It's a shame that no one managed to keep it running though. I really liked the idea.
Disregard the below: it's back down again, last I checked. Not sure what to link on that. The new bot got mildly political again / referenced being a shadowbanned user, and bam. I'm not sure where this is going to go now, if anywhere. Although I suppose the on-blockchain stuff isn't affected, and I'd wager go1dfish will do something again.
/GetFairShare will be attempting another distribution today; go try it out! - GetFairShare is back! Go get free money!
I don't really understand what's going on, but apparently the bot used for /GetFairShare got banned - Some background on GFS having gone down
I think that this will continue to be useful as we gain a larger and larger volume of posts and help me not have to worry about burying something significant posted a couple weeks back or something.
Also, right now I'm just gleaning from the frontpage, but I'll add in some great classic posts too.
Let me know in the comments if there are other posts you'd like to see added here.
submitted by coinaday to nyancoins [link] [comments]

Tor functional, bitcoin Casinos?

Hola Bitcoiners of Reddit! Would you mind posting some Gambling/ casino sites for me please? Im looking to play a bit online, but I can't seem to find a non-Javascript* operating games.. Maybe Im just to bad at searching though. Also, note. I don't like dice games etc, I prefer live playing with other people. Favorite games include Texasholdem, or maybe classic poker or blackjack. Hope I'm not breaking any rules here. Feel free to PM me if you prefer so.
Non JavaScript for the sake of security* Also, Im ok with "well" known .onion operating sites.
Thankya all.
submitted by 010406 to bitcoin_uncensored [link] [comments]

[Table] IAmA: We Are the Hosts of the Let's Talk Bitcoin! Show! We just spent 4 days at Bitcoin2013, Ask Us Anything!

Verified? (This bot cannot verify AMAs just yet)
Date: 2013-05-24
Link to submission (Has self-text)
Link to my post
Questions Answers
Hi all! I was wondering, what do you think it would take to get bitcoin from a niche currency used mainly by internet denizens to go mainstraim? I know the slow creep of more small companies accepting bitcoin helps, but what do you think that final cusp will be, and will it ever come to that? Thanks for taking the time to do this! There are several potential tipping points, but my favorite one is a large corporation accepting Bitcoin.
Amazon has an incredibly small operating margin, less than 1% - They have more than that in transaction costs, so if they were to accept Bitcoins for product and offer Bitcoins as payment to their affiliates it would cause a rush of other companies to jump onboard for the same reasons.
Once that happens with one large company, it sets a precedent. Doing something new is scary, and when the regulatory environment is uncertain like it is with Bitcoin the choice to accept could potentially cost you a lot of money later if it's retroactively made not OK and the value of the currency plummets.
But once a company like Amazon or Google jumps in, they have enough political swing and momentum that attacking Bitcoin becomes attacking them, and they'll fight that tooth and nail if it's saving them money.
Another example of a tipping point would be a country, ANY country, adopting it as their formal currency OR issuing a new currency with Bitcoins as the transparent backing of it. With bitcoin you can have a functional gold standard, because the gold doesn't need to be hidden from sight.
It is the hiding that makes gold standards dangerous - The people who issue currency with the gold as backing have no reason to issue the correct amount when only they know how much is out there, and how much gold they have.
I guess the Supreme Court has decided this does not apply to taxes, which is crap. Or are you talking about other countries? Thank you :) I actually mean something along the lines of "It is illegal to trade dollars for any cryptocurrency that does not have a real name and social security associated with it"
Will bitcoins ever be able to be traded like other recognized currencies in similar ways to Forex? More specifically, will there ever be retail brokers offering margin trading accounts that allow you to buy and sell bitcoin with leverage? There are already really small niche sites you can trade Bitcoin at leverage with, but it's just a bad idea. With a "normal" commodity market, like say chickens, if you think chickens are undervalued and want to profit from them you can buy forward production of say, a million chickens. Then when the option comes due, if you're on the profitable side of the trade you can essentially sell it for cash and the chickens never need to be delivered. In that way, it almost doesn't matter if the chickens ever existed to begin with because you never intended to take posession. With Bitcoin, it's different - Converting a bitcoin options contract into US dollars, yen, whatever actually is more expensive and time consuming than just "accepting delivery" of the bitcoins themselves. You can still sell them for whatever currency you want, but it is at the time of your choosing rather than at the point of settlement. What that means is that if you sell an option and the Bitcoins don't really exist, you could be screwed. You either default or buy them at market price which can be very painful given how volatile the pricing is right now. It is a bad idea to play with leverage in Bitcoin because if you lose, you potentially lose very big. Additionally, it's bad to buy an option because you introduce the possibility of the counterparty (supply) not being able to deliver, whereas if you just bought Bitcoins you have the Bitcoins.
Do you believe bitcoin is important locally as well as on the internet? If so, how are you promoting bitcoin in your local communities? Cryptocurrencies (of which Bitcoin is the most prominent) are the first real competition to the types of money we've used all our lives. With Dollars, Yen, Whatever - Ultimately there are a handful of people who get to decide how and why the currency should be managed.
If they did a good job, it might be fine - But the reality is the decision made affecting all users of the currency are to the benefit of a very few , at the cost of the many.
Bitcoin is different - The rules that govern it, are the rules that govern it. Nobody can break them, and if they're ever broken it's because more than 51% of the distributed power in the system (anyone can buy a mining rig and join this group). For me, that's incredibly important. Rules should apply evenly to everyone because otherwise they're not rules at all.
Local communities can benefit because it removes payment processors from merchant relationships, removes chargeback risk, and basically acts like Cash on the internet.
What are some of the more exciting things you (each of you?) envision for Bitcoin in the short to medium term? Discounts :) We've been talking about the deflationary business model, and during this period where the value is going to go up pretty fast (over the next several years) as adoption ramps up, businesses are going to be giving major discounts to those who choose to spend them.
From the merchants perspective, this is actually a huge win - They get to have lower prices than their US Dollar (or local currency) competitors, and the value of the Bitcoins they receive goes up over time instead of going down with printed currencies. Once this becomes pervasive in the Bitcoin economy, it will mean that even at those discounted prices they are STILL profitable because their suppliers are also offering them discounts to pay in Bitcoin.
Right now we're at the beginning of this cycle, you can see BitcoinStore.com is attempting it (Disclosure - They have sponsored us in the past, we run a 30s advertisement for them per show) but it's hard to be the first one doing it because it looks like you're sacrificing yourself when really it's just the model that makes the most sense.
Not to be the doom and gloom person but in the future what do you think will/would be the "last nail in the coffin" for Bitcoin? It depends what you mean by "last nail in the coffin"
How did you meet/find Andreas and Stephanie and how did you persuade them to be part of your show? I put out a call for staff several months ago, Andreas found me through that and joined the team initially as a correspondent providing expertise and commentary while Mt.Gox was having a lot of problems. Once we re-started the show as a twice-weekly, he graciously offered to join the hosting staff and gladly took him up on it.
I found Stephanie through her show Porc therapy, and a listener named Justus - He mentioned she did voicework, and I hired her to do some of our early introductions and advertising spots. When we went through the re-organization I offered her an occasional hosting role, and never bothered finding other hosts because I was so happy with our dynamic and varied viewpoints.
Both of the other hosts on the show are real professionals, and it's been my distinct pleasure to work with them.
Thanks for responding! Andreas is my fave (though I enjoy yours and Stephanie's comments too). Everybody has their favorite :) I think the fact that we all have people disagreeing with us at times means we're doing the job, and providing multiple and varied perspectives.
What recording tools are you using? We started off using Skype, Virtual Audio Cables (VAC) and Adobe Audition (creative suite)
Now we use Mumble instead of Skype, but the rest is the same.
I edit the host segments for content (sometimes we go on and on and on) and I edit the interviews for presentation, rarely removing any content. Many times the skillset that enables you to have a really smart idea is not the same skillset that lets you present that idea, perfectly, the first time. Our interview subjects tell me all the time "I love how smart I sound" and I get to say "You are smart, I just removed the brain processing noises"
Assuming bitcoin reaches critical mass, how does bitcoin cope with the criticism of rewarding early adopters? Do you see a potential uproar about inequity? Is there outrage against people who bought Apple stock at $30? Bitcoin is a currency that right now, and for the next few years, acting like an IPO. People who got in early got in cheap, but there was a whole lot of risk because people weren't using it much, there wern't vendors accepting it, so the use case is much more speculative.
We're very much still in the early adoption phase right now - Less than %.01 of internet users are Bitcoin users, as that number grows while the number of coins being added to the total pool grows at a much slower rate, the price per coin has to go up. If Bitcoin fails and everybody abandons it, this works the opposite way - but it actually solves a number of problems (microtransactions, fees, international money transfers, automated payment systems) so I'm not super concerned about that.
One of my favorite quotes, by Douglas Adams.
>It is a rare mind indeed that can render the hitherto non-existent >blindingly obvious. The cry 'I could have thought of that' is a very >popular and misleading one, for the fact is that they didn't, and a very >significant and revealing fact it is too.
What do you make of the download trend of the bitcoin client software in China? Isn't this a big story? China has lots of restrictive controls on their local currency, so Bitcoin has a real use case there. This is one of many scenarios where given even 1% adoption, the price must go very much above where it is now.
You commented on a recent episode about how Satochi Dice was going to block US traffic to the site due to uncertain regulations. Can't bitcoin work around that? If you send bitcoin to the addresses of the various bets - it still works right? Thanks for your show - I await each new podcast. Yes, if you already have the specific betting addresses it doesn't matter where you are in the world. It is only the website that does not allow US IPs, they did this to be very clear they were trying to respect the US gambling laws.
I spoke with Erik Voorhees about this among other things at the conference, you can find that interview here Link to letstalkbitcoin.com
I'd like to thank all three of you for doing this podcast, it's always thought provoking and fun to listen to. Plus, Stephanie does have a very sexy voice... But I do have a question, Right now, I don't know the answer to that question.
How do miners determine which transactions will be confirmed first and which get put to the back of the line? Shouldn't they be confirmed in a 'first come, first serve' basis? But the development team has made it clear they're moving towards a market-based mechanism where Miners set the minimum transaction fee they will accept, and process on a first-come/highest-fee model. People who want their transaction to process fast will put a higher fee and it will be prioritized, while people who don't care about delivery time will be able to send no fee and be subsidized by those paying higher fees.
*edit: As well, do you still plan on using some time on the show to go into more detail about mining? I think it was mentioned a few weeks ago that the topic might be explored in further detail. There will be fewer miners who accept free or very low fee transactions, so there you go.
How would Bitcoin change our financial system as we know it? In the same way the automobile changed the horse-and-buggy system as they knew it. If you play out the logic, one functionally obsoletes the other. I was talking with a financial reporter the other day who has been coming around to bitcoin, and he said to me "You know, if they were building the banking system from scratch today I think this is pretty close to what it would look like"
Andreas answered a question below about bitcoin and self driving cars, fixing spam on the internet by using Bitcoin addresses with tiny amounts of BTC in them to prove you're a real person and not a single-use bot, there are so many crazy and impossible things that become actually probable when you're talking in the context of a world built on decentralized, rules-based, cryptographically secured, instantly transmittable, person to person internet cash.
I have never been so hopeful for our future as I am now that I've thrown my days into bitcoin. Bitcoin 2013 was a fine conference and a wonderful experiance, so many very smart people have quit their jobs or left their studies to do the same thing I have.
We know we're building the future, and it's a better one than we have today.
Have any of you heard about how in Africa much of the exchange in value is done with mobile phone minutes? It seems to me - whatever the US attempts to do with Bitcoin - there will be other places that it will bubble up in. What about Argentina and other places where they actually understand what damage a desperate government can do to a currency? I would agree with you. Until recently it's been impossible to use Bitcoins on a "dumb cell phone" - That changed recently with Link to phoneacoin.com and others.
Bitcoin solves problems that the world has had for decades, it takes the power to destroy the currency away from government so they cannot do it no matter how much they want to, or how desperately they think they need to.
No government wants to destroy a currency, they just don't want to acknowledge they've trapped themselves with debt and have no way out.
Who invented Bitcoin? What is to stop whoever did so initially issuing themselves the equivalent of $79 zillion in Bitcoin currency prior to it taking off? Is there commission charged on each transaction that occurs? If so, how much, and who receives this? The true creator is not known, he went by a false name "Satoshi".
He actually holds about 250,000 coins if I recall correctly because he was the first miner. Bitcoin is a protocol, a set of rules. It's open source, and anyone who wants to look at it can see that there is not a mechanism to just create more coins by typing in a magic word. There are no commissions, although there are fees that go to the miners who process and verify transactions.
Great podcast, can't wait for the next one! It depends on the mesh. If the mesh was never connected to the internet, it would be a parralel Bitcoin network able to transact with itself but if it was ever connected to the larger network any conflicting transactions would be "lost" as the two ledgers (the big one, and the disconnected one) try to reckon their differences. Only one winner, so that means there is a loser.
You discussed mesh networks in 3rd world countries and how bitcoin could be used in such a scenario. If the [mesh] network is disconnected from the internet, how would transactions on the blockchain be verified? Couldn't the time the mesh network was disconnected make it vulnerable to hacking the [mesh network's] blockchain? More interesting might be disconnected communities running their own fork or version of Bitcoin, that way if they're ever connected it can be an exchange process (trading their coins for "bitcoins" rather than a reckoning (Seeing who has a bigger network and canceling out transactions on the smaller one that conflict)
1) The price for one Bitcoin seems to fluctuate quite a bit. The most successful currencies remain relatively stable over time (e.g. the Dollar). Will Bitcoin ever need to reach a certain level of stability to be a successful unit of trade? and if so, what do you think needs to happen before then? 1 - Yes! Once everyone who has purchased Bitcoin has purchased them, the price will stabilize. In practice this will start happening long before absolute stability, and as soon as people start thinking about prices in terms of BTC instead of their local currency it almost doesn't matter.
2) If Bitcoin ever becomes a widely accepted form of payment (seems a lot of businesses already accept it), how do you think the US government will proceed/react/regulate/etc. considering that technically only the feds can issue currency? 2 - "The Feds" are not the only ones who can issue currency - They have legal tender laws which mean people MUST accept their money, but nothing prevents you from circulating a voluntary currency like Bitcoin.
Do you foresee companies like paypal incorporating bitcoin into their businesses in the future as a more credible exchange than these ones that are currently running? No. Paypal again is the proverbial horse-drawn-buggy manufacturer- Sure they might go to the worlds faire and while observing the new fangled automobiles say to themselves 'we might integrate this into our existing machines!' when the fact is that it obsoletes those existing machines.
Paypal makes their money by standing in the middle of transactions collecting fees, Bitcoin serves its function by connecting people who want to do commerce directly to one-another, and what fees are paid are a tiny fraction of what Paypal does. If paypal accepted Bitcoin, it would not be Bitcoin any more because they would have mechanisms to freeze accounts at the very least to mitigate risk. That is not possible with Bitcoin by itself.
Thanks for the well thought out response, I genuinely appreciated that you took the time for this! I do have a follow up question, how does one get bit coin in an easy way? Lets say I have 300$ that I want in bit coin.. whats the best way to approach this? Probably a company like bitinstant.com, bitstamp.com, or btcquick.com - For larger amounts they don't make too much sense but at that level its your best bet.
Not to be rude, but how do you expect for a currency without a standard like gold silver etc. to not crash down in a blaze of glory? What standard is your currency backed by?
Hi There. I was at the San Jose convention hall last weekend attending Big Wow Comicfest and that's where I saw Bitcoin2013! Mostly Bitcoin 2013 was an opportunity for people building the future of Bitcoin to meet each other and network. There were speakers talking about a wide variety of issues, and vendors of Bitcoin services who were showing their latest innovations and systems.
What information was presented at this event that couldn't be done justice disseminated over the internet? The information will eventually be online, but the probably 200 people I got to meet in real life will not (in real life)
What resources do you think I should review as a total newbie to bitcoin? Or if possible, what's the one sentence pitch to get a newb involved? For people brand new, www.weusecoins.com is a good place to start For people who want to learn how it works, www.letstalkbitcoin.com/learn will direct you to the Bitcoin Education Project, which is a series of free and very high quality lectures that will tell you everything you ever wanted to know and more about Bitcoin, How it works, and all the little sub-topics that you'll eventually want to learn about.
The pitch is "It's like cash that lives on the internet, and is as easy to spend on the internet as buying a candybar in a store with a dollar"
Would any of you hazard a guess at the bitcoin exchange rate at the end of 2013? Sure, i'll make a wild guess.
$1000.
If and when a large user comes onboard, I think thats the next price at which we'll bounce around for a while, just like 100 became the sticky point after the last major bout of adoption.
How do bitcoins relate to the law? For example, what would be the crime if somone hacked your account and stole your bitcoins? It's not exactly theft of money, or is it? Bitcoins are your property, it's illegal for someone to steal your property whether it is money or not. Right now there is little that can be done about theft, but eventually I expect a class of "Blockchain Forensic Investigators" to emerge who will track down your stolen coins for a % based fee.
On your last show you mentioned the diversity of the Bitcoiners who attended BitCoin2013 - which nation was most represented in your opinion? Were there any Chinese nationals present (we've heard that they've suddenly gotten the bitcoin bug in the last month)? Did the other nations talk about regulatory problems or is that just a US concern? I met the gentleman from BTC-China, but other than that I actually didn't see any obvious chinese nationals. We saw lots of eastern europeans and south americans.
Other nations are not talking about the regulatory issue as far as I can tell, it seems like everyone is waiting to see what the US does, which is not abnormal in a very new situation like this.
Isn't having an inherently deflationary currency a terrible idea? How is bitcoin different from geeky goldbuggery? Because you can't divide a gold coin into .0001 without incurring cost and expense. That's not the case with Bitcoin, so the deflationary aspect of it is largely moot.
There is a tendency to listen to modern "economics" which makes this arguement, saying that the money supply must expand because otherwise it drives down profitability in a race to the bottom.
I think in practice we'll find that people don't work against their own best interest, and while during the initial adoptions stages of Bitcoin there will be significant discounts offered to those who pay with Bitcoin vs. legacy currency, once the market becomes saturated and the price levels out those discounts will be scaled way back.
Right now it makes sense to heavily discount, because the expectation is that the value of the Bitcoins will go up during this period of adoption, that won't always be true and the discount is a reflection of anticipated future returns.
Was it bad when people saved money in banks that paid 10% interest? No, that's called capital formation. There is a thought that given a deflationary currency nobody will spend any money, that's nonsense. Just because your currency gains value over time doesn't mean that you no longer have costs that must be paid for. What Deflationary currencies do is say "Ok, you could spend it on that, but is it worth it relative to what you'll gain by not?"
That's a good thing. Our system right now works on the opposite theory - Spend money NOW because if you're dumb enough to keep it in the bank it will actually lose value over time between the couple points of "official" inflation and less than 1% artifical interest rates. The situation is like this now because the fed is trying to make people spend as much money as possible with the hope that the flows will "restart the economic engine"
Too bad this isn't how things work, not that it'll stop us from trying it over and over again.
In the 2008 financial crash, govts bailed out the banks because there was no other way to maintain the whole financial ecosystems of payrolls, invoices and trade, all of which go through the banking system. Honestly? No. Bitcoin would be great in this role, but governments around the world rely on their ability to expand the money supply (print money, or sell debt) in order to fund their deficits. They also manipulate interest rates to be low so that debt is very inexpensive.
Can you envisage another financial crash in the future where govt says, "We don't need to do a bailout, as we've got this alternative payment system" and then instructs businesses and employees to just get themselves a bitcoin address and work through the Bitcoin system? Bitcoin doesn't have a central control mechanism, so there is no group or person who can say "OK - the interest rate is 1%" - If that's really what the interest rate wants to be based on market forces, it'll be that - But if not, there isn't much anyone can do to stop it.
What type of notes and agenda does the team coordinate on before a show? We use Basecamp, and it really depends. Right now we have a show prep thread that has 30+ posts in it for episode 11, we'll probably use 5 of those.
The agenda is really basic - As we get near recording time topics are selected (generally by me, but I like to get the other hosts to do it since they provide most of the commentary in Host segments) and I form a schedule, then we run through the recording session hitting each topic.
Over the last weeks we've brought two researchers onto the team, so that has helped a TON.
I first learned about Bitcoins on an episode of The Good Wife. The one with Jason Biggs as the creator of BitCoin. Have you watched that episode and how accurate does that episode portray what's happening with Bitcoin in terms of legal stuff? Not having seen it but knowing TV, I'm gonna go out on a limb and say "not very well" Satoshi has not been identified, was a throw-away identity that was cryptographically secured, so probably never will.
Are there any conferences in Chicago anytime soon? I think a Q&A in public would be helpful for your show as well as bitcoin. I'll be speaking at an event in NYC on July 30, there will be one or two meetups while I'm there. There is also an event in October in Atlanta. I remember talking with a guy at Bitcoin2013 wearing a shirt that said "BitcoinChicago" so I'd suggest looking for a user-group.
We're planning on doing Q&As often, but none of us are really near Chicago so it's tough. Happy to do virtual Q&As over skype, live or recorded.
Oh dear. You're not all perfectly grammatical orators on the first try? I'm crushed! I really value my own time, and I know other people out there do too. I try to make the show as information dense as possible, thats the criteria we've been operating under from really day one.
We're actually talking about cutting the show in half and releasing it more often (still recording the same amount) because people can get tired of listening to such dense content for an hour or more.
US Treasury recently issued a directive stating they would be monitoring any entity attempting to exchange virtual currency for USD (or any other currency, goods, or services), indicating that federal authorities take a dim view of what amounts to private coinage. Do you anticipate a Supreme Court case here defining what is and is not private coinage? 2.And given bitcoin's noted extra-legal uses, do you have any indication it is being decrypted by NSA? 3.Taking it a step further, do you think it could be a national security-sponsored international sieve for money laundering? It may eventually go to Supreme Court.
I think the market has done fine for bitcoin so far. I think the market will continue to take care of bitcoin. The idea of giving in willingly to regulation makes me cringe. There are two camps. Some people think that regulation is inevitable, and since it's going to happen anyways it's better to participate in the process and try to make it less bad. The other side thinks that by participating, you accept their authority to regulate it when really they have no right to regulate money and have proven to do a very bad job at it now for quite a number of years.
Thanks so much for doing this, I love the Bitcoin system, but hate the volatility. How do you recommend dealing with that? I've heard to convert it quickly to the currency of choice after any exchange has been made to avoid any more changes to the price. The easy solution is just buy and hold - If you need to buy something, do it when you need to and not before. Do not pre-order anything.
What is your prediction of the price for 1 btc in USD, exactly one year from now? Just for fun, since I know it is impossible to even guess the day to day price swings. As a wild guess number I'd say $1000 or less than a dollar. Very little middleground because if it's regulated out of existence it will still exist, but be hard to find and cheap - If adoption continues to path the price should accelerate with wild spikes up and down.
My partner is buying into bitcoin as well as litecoin. Any advice for him? (I personally don't understand it) Don't panic, invest for the long term, and don't buy any more than you can afford to lose 100% of because there are still things that could dramatically reduce the price of bitcoin (mostly regulatory stuff, I answered this elsewhere in the thread)
Hello, I just wrote a long post about the functions of using BTC to facilitate a 'free bank' using the principals of free money, similar to the WIR bank. Link to en.wikipedia.org Do you think that something like this would be possible using Bitcoin? Probably. Not really my area of expertise.
Why did bits take a dive at the same time gold took a tank? I don't pay attention to price, sorry.
We take full credit for any rise and blame others for any decline. Feel free to tip us from your gains! Lol.
Just wanted to say I love your show. I encourage you to please continue making high-quality podcast episodes. Thank you. I'm really excited to be able to be a journalist in such an exciting field in a time when journalism is under attack. Not sure if you've been following the so-called "AP scandal" but now is a weird time to be trying to report the truth in this world, and we couldn't have picked a more controversial topic to the global macro picture.
Bitcoins are the stupidest investment anyone could ever make. Pass. Link to static.quickmeme.com
Unfortunately, quickmeme doesn't let you copy image urls directly. Link to i.qkme.me
Yes, but they started being worth a set value. bitcoin was never backed by anything so its value was kind of made up. how do you expect to make a non goverment currency anybody with a computer can print to retain value? Because the pie is only so large, the more people who have computers devoted to the work just each get a smaller and smaller piece.
The rate of issuance for Bitcoin is currently 25 bitcoins every 10 minutes. Only one person or pool gets the whole 25 bitcoins, it's a race to find them. If there are 10 people looking, chances are pretty good you'll find some. If there are 100,000,000 people looking, chances are much less good that you'll find them first, but if there are that many people looking those 25 coins are probably worth a whole lot more.
The system is self balancing in this way, unlike the government currency system where they create 65 billion USD worth of new value every month to buy mortgage backed securities for face value to try and prop up the market. With more than a trillion USD being added in this way each year, how can a government currency retain its value?
Because the governments "pie" does infact have limits to making it, and only dropped gold standard after over 150 years of the doller having a defined worth, unlike bitcoin, where a random hacker can just print endless money. I'd direct you to security researcher Dan Kaminsky. Link to www.businessinsider.com
You'll find it's a little harder than you're describing. Like, impossible.
Last updated: 2013-05-29 11:06 UTC
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