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Contact Us Post Here to Contact Site Administrators and Moderators Bits - The Unix and Linux Forums (Experimental) Virtual Currency Post 302764163 by Praveen_218 on Thursday 31st of January 2013 04:46:51 AM
Old 01-31-2013
Bakunin,
Thank you so much of the generosity towards me... :-)
-praveen

---------- Post updated at 03:16 PM ---------- Previous update was at 02:43 PM ----------

Quote:
Originally Posted by Neo
... we don't just "create bits from thin air"... so we are actually better than "a government" because they just "create money from thin air" when they need more money; which devalues all the currency in circulation.
Absolutely & agreed!!! The annual posting of fiscal deficit figures is what they officially declare as what was created by them/central Banking system 'out of thin air' making hole on everyone's pocket.

However, just as a thought which is crossing my mind now -that by having a total number of fixed bits which is shared across all active users and also the forum banking system; members need to increase their activities proportional to the total existing active members as this forum is growing, in order to prevent their bits getting reclaimed.
This might not reflect initially, especially so long the forum's central bank is sufficiently funded. However it would reflect for sure in the time to come.
Hence the six months in-activity is bound to reduce, of course gradually, as you have mentioned, but will reduce till what?
I feel that the central banking system of the forum should also generate a few bits with the advent of each new member to prevent it from getting chaotic sooner.

After all each new member contribute to increase into the overall entropy of the system. Hence the economy needs to inflate accordingly.
 

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OFXCONNECT(1)							   User Commands						     OFXCONNECT(1)

NAME
ofxconnect - Create a statement request file SYNOPSIS
ofxconnect [OPTIONS]... [FILES]... DESCRIPTION
ofxconnect 0.9.4 prints to stdout the created OFX file based on the options you pass it. currently it will only create a statement request file. you can POST this to an OFX server to request a statement from that financial institution for that account. -h, --help Print help and exit -V, --version Print version and exit --fipid=STRING FI partner identifier (looks up fid, org & url from partner server) --fid=STRING FI identifier --org=STRING FI org tag --bank=STRING IBAN bank identifier --broker=STRING Broker identifier --user=STRING User name --pass=STRING Password --acct=STRING Account ID --type=INT Account Type 1=checking 2=invest 3=ccard --past=LONG How far back to look from today (in days) --url=STRING Url to POST the data to (otherwise goes to stdout) --trid=INT Transaction id Group: command -s, --statement-req Request for a statement -a, --accountinfo-req Request for a list of accounts -p, --payment-req Request to make a payment -i, --paymentinquiry-req Request to inquire about the status of a payment -b, --bank-list List all known banks -f, --bank-fipid List all fipids for a given bank -v, --bank-services List supported services for a given fipid --allsupport List all banks which support online banking ofxconnect 0.9.4 May 2012 OFXCONNECT(1)
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