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Messages - freeworld

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General Discussion / Poker DAC
« on: December 21, 2013, 11:33:44 pm »
Whoever makes a poker DAC will be my hero!  Should be very profitable, the rake can be allocated appropriately to shareholders/miners/operating costs etc. 

Is this a viable idea? can also include other casino games blackjack/roulette etc. 

General Discussion / Re: Large 10+ btc buys on cryptsy today!
« on: December 05, 2013, 01:27:36 am »
that's the level I'm buying back in at too, sold some at .04

woah that's a great margin, nice work!

General Discussion / Large 10+ btc buys on cryptsy today!
« on: December 05, 2013, 12:03:43 am »
Price (btc)         PTS                             Total (btc)
0.02550000    469.00000000        11.95950000

I've been seeing big buys like this all day.  Any new and/or interesting developments going on?

Your right, BTC has 12% yearly inflation :)     

All that matters is potential 'coins in circulation'.  Every time a new coin is mined someone has financial incentive to sell to cover the cost of mining and this selling pressure devalues the coin.  Imagine what would happen to BTC price if miners were not dumping on the market?

This is true and the same thing could be said for gold as well, the supply also expands.  However, too low of a supply wouldn't be meaningful to anyone.  What if there was only 1kg of gold for the whole world?

I don't believe it's fair to say that BTC has a 10% yearly inflation.  The total supply is 21 million coins that's what Satoshi decided.

If Satoshi released all 21 million coins right away (or at least within the first year), then we would have 0% inflation since the cap has been reached.  What difference does it make if the 21 million units are released gradually or all at once (besides the fact that releasing all at once would be terrible).

If I make another btc clone and flood the market with 21 million coins, is it even fair to say that my coin has zero inflation and BTC has 10% inflation?

Technical Support / Re: How are DACs going to keep up with updates?
« on: December 01, 2013, 12:04:23 am »
Bitshares should not require frequent updates once bugs are fixed. 

Yes it works like namecoin.

Sent from my iPhone using Tapatalk

Thanks for the reply.  Seems like Protoshares could really take off, bought 1 btc worth so far (about 56 PTS)!

Keep up the good work guys.!

Technical Support / How are DACs going to keep up with updates?
« on: November 29, 2013, 07:09:38 am »
Hello all!

Really love the idea here just have some questions.

If DACs function like bitcoin (decentralized miners), how are updates going to be handled for DACs that would require frequent updating?  Surely something like bitshares (a decentralized p2p exchange) would need to be updated much more frequently than bitcoin.  Wouldn't every update need to be accepted by the majority of these decentralized miners and reviewed first?

Unless I'm missing something here the only successful DACs I see are ones that don't require frequent code updates otherwise a centralized competitor has the upper hand.  Also, to use the services of a DAC (say bitshares or Keyhotee) one has to pay using the currency of that DAC? (like how you need namecoins to register a .bit domain?) Could someone clarify please?

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