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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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KTOBLZCHECK(1)						      General Commands Manual						    KTOBLZCHECK(1)

NAME
ktoblzcheck - Check Account and BLZ (bank routing code) SYNOPSIS
ktoblzcheck [--returncode] [--file=<datafile>] <bank-id> <account-id> DESCRIPTION
This manual page documents briefly the ktoblzcheck application. ktoblzcheck is a program that will check a given account and blz for the bank being valid and the account being valid using some checksum calculations, if supported for that particular bank. The output is the clear-text name of the bank specified by <bank-id>, and whether the given <account-id> is a valid account number at this bank. OPTIONS
<bank-id> This is the Bankleitzahl (bank routing id), actually it is the account-id of that particular bank at the Deutsche Bundesbank. <account-id> This is the account number you wish to verify. If the checksum method of the bank specified by the <bank-id> is supported, you will get the account-id verified, i.e. if it is a valid account-id at that particular bank. --returncode If given, the result is returned via the returncode and no output on the terminal. The following returncodes are possible: 0: account and bank are ok 1: unknown, e.g. checksum not implemented or such 2: account and/or bank not ok 3: bank not found --file=<datafile> Specifies the file with the bankdata. This file can be obtained via the internet from the Deutsche Bundesbank on address http://www.bundesbank.de/zahlungsverkehr/zahlungsverkehr_bankleitzahlen_download.php Beware! This page is in German only. BUGS
No bugs are known at this time. Only certain checksum algorythms are supported as of now, so please don't complain if you always get "unknown" as return value. AUTHOR
This manual page was written by Jens Gecius <jens@gecius.de> for the Debian GNU/Linux system. Authors of ktoblzcheck are Fabian Kaiser <fabian@openhbci.de> and Christian Stimming <stimming@tuhh.de>. August 3, 2003 KTOBLZCHECK(1)
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