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Message boards : General discussion : BitCoin & digital currencies

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Christopher Siegert
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Joined: 5 Jul 09
Posts: 232
ID: 42986
Credit: 77,011,345
RAC: 0
321 LLR Amethyst: Earned 1,000,000 credits (1,041,657)Cullen LLR Amethyst: Earned 1,000,000 credits (1,366,558)PPS LLR Sapphire: Earned 20,000,000 credits (22,177,547)PSP LLR Amethyst: Earned 1,000,000 credits (1,521,444)SoB LLR Amethyst: Earned 1,000,000 credits (1,751,070)SR5 LLR Amethyst: Earned 1,000,000 credits (1,100,031)SGS LLR Amethyst: Earned 1,000,000 credits (1,014,953)TRP LLR Ruby: Earned 2,000,000 credits (3,647,371)Woodall LLR Amethyst: Earned 1,000,000 credits (1,479,507)Cullen/Woodall Sieve (suspended) Bronze: Earned 10,000 credits (41,181)PPS Sieve Sapphire: Earned 20,000,000 credits (29,702,366)TRP Sieve (suspended) Silver: Earned 100,000 credits (206,682)GFN Jade: Earned 10,000,000 credits (11,960,980)
Message 71047 - Posted: 20 Nov 2013 | 8:48:20 UTC

I've become intrigued by BitCoin.

Does anybody know if there's a digital currency that utilizes the natural scarcity of prime numbers as its basis for being a store of value?

BitCoin seems to use a rather arbitrary method for creating artificial scarcity.

Perhaps a prime-based digital currency of some sort could be developed?

I really like the concept anyhow...

Christopher Siegert
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Joined: 5 Jul 09
Posts: 232
ID: 42986
Credit: 77,011,345
RAC: 0
321 LLR Amethyst: Earned 1,000,000 credits (1,041,657)Cullen LLR Amethyst: Earned 1,000,000 credits (1,366,558)PPS LLR Sapphire: Earned 20,000,000 credits (22,177,547)PSP LLR Amethyst: Earned 1,000,000 credits (1,521,444)SoB LLR Amethyst: Earned 1,000,000 credits (1,751,070)SR5 LLR Amethyst: Earned 1,000,000 credits (1,100,031)SGS LLR Amethyst: Earned 1,000,000 credits (1,014,953)TRP LLR Ruby: Earned 2,000,000 credits (3,647,371)Woodall LLR Amethyst: Earned 1,000,000 credits (1,479,507)Cullen/Woodall Sieve (suspended) Bronze: Earned 10,000 credits (41,181)PPS Sieve Sapphire: Earned 20,000,000 credits (29,702,366)TRP Sieve (suspended) Silver: Earned 100,000 credits (206,682)GFN Jade: Earned 10,000,000 credits (11,960,980)
Message 71048 - Posted: 20 Nov 2013 | 8:49:50 UTC

Something along the lines of each prime number representing a unique digital coin.

Perhaps only certain types of primes would be used...

Christopher Siegert
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Joined: 5 Jul 09
Posts: 232
ID: 42986
Credit: 77,011,345
RAC: 0
321 LLR Amethyst: Earned 1,000,000 credits (1,041,657)Cullen LLR Amethyst: Earned 1,000,000 credits (1,366,558)PPS LLR Sapphire: Earned 20,000,000 credits (22,177,547)PSP LLR Amethyst: Earned 1,000,000 credits (1,521,444)SoB LLR Amethyst: Earned 1,000,000 credits (1,751,070)SR5 LLR Amethyst: Earned 1,000,000 credits (1,100,031)SGS LLR Amethyst: Earned 1,000,000 credits (1,014,953)TRP LLR Ruby: Earned 2,000,000 credits (3,647,371)Woodall LLR Amethyst: Earned 1,000,000 credits (1,479,507)Cullen/Woodall Sieve (suspended) Bronze: Earned 10,000 credits (41,181)PPS Sieve Sapphire: Earned 20,000,000 credits (29,702,366)TRP Sieve (suspended) Silver: Earned 100,000 credits (206,682)GFN Jade: Earned 10,000,000 credits (11,960,980)
Message 71049 - Posted: 20 Nov 2013 | 8:50:37 UTC - in response to Message 71048.

I'll add that if somebody generated such a currency, and it took off (became commercially viable as a digital currency), interest in prime numbers would certainly increase.

Christopher Siegert
Send message
Joined: 5 Jul 09
Posts: 232
ID: 42986
Credit: 77,011,345
RAC: 0
321 LLR Amethyst: Earned 1,000,000 credits (1,041,657)Cullen LLR Amethyst: Earned 1,000,000 credits (1,366,558)PPS LLR Sapphire: Earned 20,000,000 credits (22,177,547)PSP LLR Amethyst: Earned 1,000,000 credits (1,521,444)SoB LLR Amethyst: Earned 1,000,000 credits (1,751,070)SR5 LLR Amethyst: Earned 1,000,000 credits (1,100,031)SGS LLR Amethyst: Earned 1,000,000 credits (1,014,953)TRP LLR Ruby: Earned 2,000,000 credits (3,647,371)Woodall LLR Amethyst: Earned 1,000,000 credits (1,479,507)Cullen/Woodall Sieve (suspended) Bronze: Earned 10,000 credits (41,181)PPS Sieve Sapphire: Earned 20,000,000 credits (29,702,366)TRP Sieve (suspended) Silver: Earned 100,000 credits (206,682)GFN Jade: Earned 10,000,000 credits (11,960,980)
Message 71050 - Posted: 20 Nov 2013 | 9:18:28 UTC - in response to Message 71049.

Well, I found this article about "PrimeCoin". It appears to utilize Cunningham chains.

http://bitcoinmagazine.com/5635/primecoin-the-cryptocurrency-whose-mining-is-actually-useful/

The utilization of Generalized Fermat primes would be a little more interesting...

The N value of any given GFP could be weighted and determine the monetary value of the prime number. That way, N=1 or 2 wouldn't generate much value. An N=20 prime would be worth a million bucks...

Profile mikey
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Joined: 17 Mar 09
Posts: 1275
ID: 37043
Credit: 528,133,062
RAC: 130,176
Discovered 1 mega prime321 LLR Ruby: Earned 2,000,000 credits (2,038,739)Cullen LLR Ruby: Earned 2,000,000 credits (2,074,615)ESP LLR Ruby: Earned 2,000,000 credits (2,243,517)Generalized Cullen/Woodall LLR Ruby: Earned 2,000,000 credits (2,142,353)PPS LLR Turquoise: Earned 5,000,000 credits (7,292,459)PSP LLR Ruby: Earned 2,000,000 credits (2,232,103)SoB LLR Ruby: Earned 2,000,000 credits (2,934,612)SR5 LLR Ruby: Earned 2,000,000 credits (2,053,250)SGS LLR Turquoise: Earned 5,000,000 credits (5,152,318)TRP LLR Ruby: Earned 2,000,000 credits (2,405,015)Woodall LLR Ruby: Earned 2,000,000 credits (2,014,811)321 Sieve (suspended) Sapphire: Earned 20,000,000 credits (23,770,672)Cullen/Woodall Sieve (suspended) Gold: Earned 500,000 credits (944,431)Generalized Cullen/Woodall Sieve (suspended) Sapphire: Earned 20,000,000 credits (20,813,253)PPS Sieve Double Silver: Earned 200,000,000 credits (341,799,255)Sierpinski (ESP/PSP/SoB) Sieve (suspended) Ruby: Earned 2,000,000 credits (2,446,797)AP 26/27 Sapphire: Earned 20,000,000 credits (33,140,471)WW Ruby: Earned 2,000,000 credits (2,884,000)GFN Sapphire: Earned 20,000,000 credits (49,299,387)PSA Sapphire: Earned 20,000,000 credits (20,457,430)
Message 71055 - Posted: 20 Nov 2013 | 13:01:47 UTC

I think Bitcoins will be worth some serious cash until the gamers start 'mining' at which point the value will drop like a rock. I have 2 bitcoins, virtual ones, but they were made quite a while ago when the electricity to make them cost more then they were worth. As the value goes up and gamers figure out they can use their gpu to make money instead of game, the value of a bitcoin will start dropping. Of course the game makers won't like that and will do everything in their power to stop the exodus. But once the gamers figure out they can prove mom and dad wrong and that sitting in a room all day with a super fast hot rod pc wasn't bad after all, bitcoins again won't be worth the money it takes to make them. Use that super fast gpu to make some serious cash, and use some old ps3 or even ps2 and play the older games while doing it.

Profile mikey
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Send message
Joined: 17 Mar 09
Posts: 1275
ID: 37043
Credit: 528,133,062
RAC: 130,176
Discovered 1 mega prime321 LLR Ruby: Earned 2,000,000 credits (2,038,739)Cullen LLR Ruby: Earned 2,000,000 credits (2,074,615)ESP LLR Ruby: Earned 2,000,000 credits (2,243,517)Generalized Cullen/Woodall LLR Ruby: Earned 2,000,000 credits (2,142,353)PPS LLR Turquoise: Earned 5,000,000 credits (7,292,459)PSP LLR Ruby: Earned 2,000,000 credits (2,232,103)SoB LLR Ruby: Earned 2,000,000 credits (2,934,612)SR5 LLR Ruby: Earned 2,000,000 credits (2,053,250)SGS LLR Turquoise: Earned 5,000,000 credits (5,152,318)TRP LLR Ruby: Earned 2,000,000 credits (2,405,015)Woodall LLR Ruby: Earned 2,000,000 credits (2,014,811)321 Sieve (suspended) Sapphire: Earned 20,000,000 credits (23,770,672)Cullen/Woodall Sieve (suspended) Gold: Earned 500,000 credits (944,431)Generalized Cullen/Woodall Sieve (suspended) Sapphire: Earned 20,000,000 credits (20,813,253)PPS Sieve Double Silver: Earned 200,000,000 credits (341,799,255)Sierpinski (ESP/PSP/SoB) Sieve (suspended) Ruby: Earned 2,000,000 credits (2,446,797)AP 26/27 Sapphire: Earned 20,000,000 credits (33,140,471)WW Ruby: Earned 2,000,000 credits (2,884,000)GFN Sapphire: Earned 20,000,000 credits (49,299,387)PSA Sapphire: Earned 20,000,000 credits (20,457,430)
Message 71087 - Posted: 22 Nov 2013 | 14:11:21 UTC

It turns out at least one of the game makers was caught using peoples gpu's to ALSO mine for bitcoins WHILE people were gaming, without informing the gamers! They have agreed to pay a 1 million dollar US fine!

Profile Doc NoProject donor
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Joined: 2 Jan 09
Posts: 134
ID: 33689
Credit: 730,797,629
RAC: 65,317
Discovered 3 mega primes321 LLR Ruby: Earned 2,000,000 credits (4,921,665)Cullen LLR Ruby: Earned 2,000,000 credits (2,917,119)ESP LLR Ruby: Earned 2,000,000 credits (2,591,548)Generalized Cullen/Woodall LLR Ruby: Earned 2,000,000 credits (4,717,201)PPS LLR Sapphire: Earned 20,000,000 credits (33,215,479)PSP LLR Jade: Earned 10,000,000 credits (11,000,584)SoB LLR Sapphire: Earned 20,000,000 credits (23,509,455)SR5 LLR Jade: Earned 10,000,000 credits (11,722,231)SGS LLR Ruby: Earned 2,000,000 credits (4,378,393)TRP LLR Ruby: Earned 2,000,000 credits (3,539,919)Woodall LLR Ruby: Earned 2,000,000 credits (4,254,369)321 Sieve (suspended) Jade: Earned 10,000,000 credits (10,634,338)Cullen/Woodall Sieve (suspended) Silver: Earned 100,000 credits (360,397)Generalized Cullen/Woodall Sieve (suspended) Ruby: Earned 2,000,000 credits (4,801,060)PPS Sieve Emerald: Earned 50,000,000 credits (77,103,903)Sierpinski (ESP/PSP/SoB) Sieve (suspended) Ruby: Earned 2,000,000 credits (4,364,469)TRP Sieve (suspended) Turquoise: Earned 5,000,000 credits (5,845,234)AP 26/27 Turquoise: Earned 5,000,000 credits (7,241,013)WW Bronze: Earned 10,000 credits (64,000)GFN Double Gold: Earned 500,000,000 credits (513,371,588)PSA Silver: Earned 100,000 credits (246,526)
Message 72467 - Posted: 20 Jan 2014 | 5:14:48 UTC - in response to Message 71047.

I really enjoyed this article - I freely admit I don't see how people can be suckered into mining it right now but hey - greed drives all kinds of irrational behavior!

http://arstechnica.com/business/2013/12/crazy-currency-the-more-i-report-on-bitcoin-the-weirder-it-gets/

Message boards : General discussion : BitCoin & digital currencies

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