Letter to the EFF - page 13. | Bitcointalksearch.org

fresno

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Activity: 94

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Quote from: ichi on August 18, 2010, 01:45:43 AM

@fresno

Edit: How about y'all send Bitcoin contributions for the EFF to me, and I'll mail Maple Leaf bullion coins to them Wink

Or would that be confusing the message?

Whose side are you on?!!

We donate Bitcoins to EFF. They do whatever they want with them. Maybe they'll discover something we haven't thought of.

Stop converting Bitcoins into everything under the sun! That's not our business. We regulate Bitcoins and keep the system working. That is all.

Let somebody else convert Bitcoins into drachmas and poker chips. Or maybe do it yourself, on your own site. Keep Bitcoin out of it.

ichi

member

Activity: 182

Merit: 10

OK, just drop any reference in the letter to any of those worthless fiat currencies. Yes?

I'll still sell a few 0.1 oz gold bullion coins for Bitcoin. Bidding for the first starts at 2,500 Bitcoin, and will close at midnight Sunday (GMT). The buyer will cover postage, and accept all risks.

mizerydearia

hero member

Activity: 574

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I'm confused. How about you send the maple leaf bullions to me and I'll let you pay to me in bitcoins to cover their costs. So as to show a bit of generosity, I'll even let you pay a bit extra, maybe 1.5x to provide more incentive for you.

ichi

member

Activity: 182

Merit: 10

@fresno

You asked: "What is a USD worth, anyway?"

Perhaps we should have agreed on the meaning of "worth" before I answered. In a fundamental sense, we agree that they're worthless. There's no guaranteed worth, anyway.

OTOH, next weekend, I can take 9,999 USD in cash to a coin show, and (with luck) drive home with seven one-ounce Canadian Maple Leaf bullion coins, and change. Would the seller be a fool? Or would I? Only time will tell.

So, how much gold is a Bitcoin worth? Or rather, how many Bitcoin could I get for a 0.1 ounce Maple Leaf bullion coin? I might sell a few if the price were right, just as a lark. Just one per customer, though, and I'd need a mailing address. And you'd need to pay me before I mailed the coin.

Edit: How about y'all send Bitcoin contributions for the EFF to me, and I'll mail Maple Leaf bullion coins to them Wink

Or would that be confusing the message?

fresno

member

Activity: 94

Merit: 10

No, dammit! Somebody might trade x amount of gold for a FRN, but there is no guaranteed conversion. A FRN isn't worth squat, and they'll tell you that! Too bad Bitcoin isn't that smart.

ichi

member

Activity: 182

Merit: 10

DOH!

Right, 25 mg ostensibly, and 2.5 mg really.

How embarrassing Embarrassed

NewLibertyStandard

sr. member

Activity: 252

Merit: 268

Quote from: ichi on August 17, 2010, 10:28:42 PM

A USD is worth somewhat less than 1 mg gold, according to the current spot price. Without active manipulation, the current equilibrium value is probably closer to 0.1 mg gold.

You're thinking of troy ounces. One ounce of gold is worth about $1226.00. There are 31.1034768 grams in a troy ounce, so a gram is worth about $39.42. A dollar is worth about 0.000815661 troy ounces or 0.025369883 grams of gold.

ichi

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Activity: 182

Merit: 10

A USD is worth somewhat less than 1 mg gold, according to the current spot price. Without active manipulation, the current equilibrium value is probably closer to 0.1 mg gold.

fresno

member

Activity: 94

Merit: 10

[Duplicate, sorry!]

fresno

member

Activity: 94

Merit: 10

Quote from: ichi on August 17, 2010, 02:45:49 PM

Thanks, kiba

FWIW, I support dropping "cryptocurrency". Bitcoin is what it is,..

YES! Why bring in banking terms? This project is as different from banking as blogs are from newspapers.

And very good work, kiba, but who is going to guarantee that Bitcoins are worth xxx USD? Not me! (What is a USD worth, anyway?)

MoonShadow

legendary

Activity: 1708

Merit: 1010

Quote from: kiba on August 17, 2010, 03:08:34 PM

Quote from: ichi on August 17, 2010, 03:07:01 PM

Thanks. I pledged.

In this thread, lfm writes that "I see about 850 connections to the IRC channel." Is that our best estimate?

That's quite an assumption. It would mean there are 1 user for each nodes. It is more probable than some users run more nodes than other.

Nor would all nodes show up on the IRC channel. I, for one, would not. IRC is blocked for me, so my client on my thumbdrive wouldn't show up, and I imagine that mybitcoin.com would only count for one. Any user's client who was offline and not interested in generating coins wouldn't likely show up either, since is a good chance that he turns off his desktop at night.

kiba

legendary

Activity: 980

Merit: 1020

Quote from: ichi on August 17, 2010, 03:14:04 PM

OK, just say 850 nodes, then. Could we assume that all members of this forum are users? What's that number? And would exchanges report numbers of distinct clients?

We have 691 users, with 9818 posts. This is about 36 posts a day, 3 members a day, and 15 users online each day.

ichi

member

Activity: 182

Merit: 10

OK, just say 850 nodes, then. Could we assume that all members of this forum are users? What's that number? And would exchanges report numbers of distinct clients?

kiba

legendary

Activity: 980

Merit: 1020

Quote from: ichi on August 17, 2010, 03:07:01 PM

Thanks. I pledged.

In this thread, lfm writes that "I see about 850 connections to the IRC channel." Is that our best estimate?

That's quite an assumption. It would mean there are 1 user for each nodes. It is more probable than some users run more nodes than other.

ichi

member

Activity: 182

Merit: 10

Thanks. I pledged.

In this thread, lfm writes that "I see about 850 connections to the IRC channel." Is that our best estimate?

kiba

legendary

Activity: 980

Merit: 1020

Quote from: ichi on August 17, 2010, 02:59:17 PM

Are those pledges, or in an account? I vaguely remember another thread. Help?

How may Bitcoin clients are there currently?

https://bitcointalksearch.org/topic/eff-donation-thread-800-bitcoins-and-counting-with-520-donated-778

ichi

member

Activity: 182

Merit: 10

Are those pledges, or in an account? I vaguely remember another thread. Help?

How may Bitcoin clients are there currently?

kiba

legendary

Activity: 980

Merit: 1020

Quote from: ichi on August 17, 2010, 02:45:49 PM

Thanks, kiba

FWIW, I support dropping "cryptocurrency". Bitcoin is what it is, and that's well-described elsewhere.

So, what are the current best estimates for N, X and Y?

We have about 575 bitcoins, which translate to 37.72 dollars at the current exchange rate of 0.056.

Not everybody pledged a donation. Some of which probably won't be donated at all.

ichi

member

Activity: 182

Merit: 10

Thanks, kiba

FWIW, I support dropping "cryptocurrency". Bitcoin is what it is, and that's well-described elsewhere.

So, what are the current best estimates for N, X and Y?

NewLibertyStandard

sr. member

Activity: 252

Merit: 268

I bet they'll smile when they come to check out the project and find this thread. Cheesy

Topic: Letter to the EFF - page 13. (Read 46893 times)