https://wiki.freecapitalists.org/api.php?action=feedcontributions&feedformat=atom&user=Alex3000 2026-08-12T19:44:18Z User contributions MediaWiki 1.43.9 https://wiki.freecapitalists.org/index.php?title=Aggression&diff=13246 2011-02-15T19:58:08Z

<p>Alex3000: </p> <hr /> <div>'''Aggression''' is defined as the ''initiation of physical force'' against other persons or their [[property]], the [[threat]] of such, or [[fraud]] upon other persons or their property.<br /> <br /> Synonymous to the word ''physical force'', simply the word ''force'' or the word ''violence'' is often used. Strictly speaking force is only violence when it is used against another persons property instead of ones own property.<br /> <br /> The word ''initiation'' means that the force can be causally traced back to the [[will]] of a person, while this person did not have [[permission]]. So a person did not initiate the use of force when he was just a domino in a causal chain that he did not initiate by his will.<br /> <br /> [[Spying]] is an example of aggression, because it requires the gaining of access to another persons property (force) without permission.<br /> <br /> Note that [[communication]] requires the initiation of force to gain access to another persons sensory organs. If [[politeness]] is kept, permission for communication is usually given after the fact.<br /> <br /> {{stub}}<br /> [[Category:Concepts]]</div>

Alex3000 https://wiki.freecapitalists.org/index.php?title=Aggression&diff=13245 2011-02-15T19:50:46Z

<p>Alex3000: </p> <hr /> <div>'''Aggression''' is defined as the ''initiation of physical force'' against other persons or their [[property]], the [[threat]] of such, or [[fraud]] upon other persons or their property.<br /> <br /> Synonymous to the word ''physical force'', simply the word ''force'' or the word ''violence'' is often used. Strictly speaking force is only violence when it is used against another persons property instead of ones own property.<br /> <br /> The word ''initiation'' means that the force can be causally traced back to the [[will]] of a person, while this person did not have [[permission]]. So a person did not initiate the use of force when he was just a domino in a causal chain that he did not initiate by his will.<br /> <br /> {{stub}}<br /> [[Category:Concepts]]</div>

Alex3000 https://wiki.freecapitalists.org/index.php?title=Aggression&diff=13244 2011-02-15T19:50:21Z

<p>Alex3000: </p> <hr /> <div>'''Aggression''' is defined as the ''initiation of physical force'' against other persons or their [[property]], the [[threat]] of such, or [[fraud]] upon other persons or their property.<br /> <br /> Synonymous to the word ''physical force'', simply the word ''force'' or the word ''violence'' is often used. Strictly speaking force is only violence when it is used against another persons property instead of ones own property.<br /> <br /> The word ''initiation'' means that the force can be causally traced back to the [[will]] of a person, where this person did not have [[permission]]. So a person did not initiate the use of force when he was just a domino in a causal chain that he did not initiate by his will.<br /> <br /> {{stub}}<br /> [[Category:Concepts]]</div>

Alex3000 https://wiki.freecapitalists.org/index.php?title=Fraud&diff=13252 2011-02-15T19:10:48Z

<p>Alex3000: </p> <hr /> <div>'''Fraud''' is obtaining [[property]] by [[false representation]].<br /> <br /> Being late is fraud, because it is a breach of an [[agreement]] where time was obtained.<br /> <br /> [[Lying]] is false representation but it is not necessarily fraud because the obtaining of good or services is a prerequisite.</div>

Alex3000 https://wiki.freecapitalists.org/index.php?title=Aggression&diff=13243 2011-02-15T18:39:42Z

<p>Alex3000: </p> <hr /> <div>'''Aggression''' is defined as the ''initiation of physical force'' against other persons or their [[property]], the [[threat]] of such, or [[fraud]] upon other persons or their property, without [[permission]].<br /> <br /> Synonymous to the word ''physical force'', simply the word ''force'' or the word ''violence'' is often used. Strictly speaking force is only violence when it is used against another persons property instead of ones own property.<br /> <br /> The word ''initiation'' means that the force can be causally traced back to the [[will]] of a person. So a person did not initiate the use of force when he was just a domino in a causal chain that he did not initiate by his will.<br /> <br /> {{stub}}<br /> [[Category:Concepts]]</div>

Alex3000 https://wiki.freecapitalists.org/index.php?title=Aggression&diff=13242 2011-02-15T18:36:13Z

<p>Alex3000: </p> <hr /> <div>'''Aggression''' is defined as the ''initiation of physical force'' against other persons or their property, the [[threat]] of such, or [[fraud]] upon other persons or their property.<br /> <br /> Synonymous to the word ''physical force'', simply the word ''force'' or the word ''violence'' is often used. Strictly speaking force is only violence when it is used against another persons property instead of ones own property.<br /> <br /> The word ''initiation'' means that the force can be causally traced back to the [[will]] of a person. So a person did not initiate the use of force when he was just a domino in a causal chain that he did not initiate by his will.<br /> <br /> {{stub}}<br /> [[Category:Concepts]]</div>

Alex3000 https://wiki.freecapitalists.org/index.php?title=Threat&diff=13254 2011-02-15T18:27:02Z

<p>Alex3000: Created page with &quot;A &#039;&#039;&#039;threat&#039;&#039;&#039; is the communication to a person of the intent of aggression against that peson.&quot;</p> <hr /> <div>A '''threat''' is the communication to a person of the [[intent]] of [[aggression]] against that peson.</div>

Alex3000 https://wiki.freecapitalists.org/index.php?title=Fraud&diff=13251 2011-02-15T18:23:13Z

<p>Alex3000: Created page with &quot;&#039;&#039;&#039;Fraud&#039;&#039;&#039; is obtaining goods or services by false representation. Lying is false representation but it is not necessarily fraud because the obtaining of good o...&quot;</p> <hr /> <div>'''Fraud''' is obtaining [[good]]s or [[service]]s by [[false representation]].<br /> <br /> [[Lying]] is false representation but it is not necessarily fraud because the obtaining of good or services is a prerequisite.</div>

Alex3000 https://wiki.freecapitalists.org/index.php?title=Principle_of_non-aggression&diff=12559 2011-02-15T18:18:07Z

<p>Alex3000: </p> <hr /> <div>{{Refimprove|date=May 2008}}<br /> {{Libertarianism sidebar |expanded=Concepts}}<br /> <br /> The '''non-aggression principle''' (also called the '''non-aggression axiom''', or the '''anti-coercion''' or '''zero aggression principle''' or '''non-initiation of force''') is an ethical stance which asserts that &quot;[[aggression]]&quot; is inherently illegitimate. &quot;Aggression&quot; is defined as the &quot;initiation&quot; of physical force against persons or property, the threat of such, or [[fraud]] upon persons or their property. In contrast to [[pacifism]], the non-aggression principle does not preclude violent self-defense. The principle is a [[deontological]] (or rule-based) ethical stance.<br /> <br /> ==Origin==<br /> The principle has a long tradition but has been mostly popularized by [[market anarchism|market anarchists]] and other schools of [[libertarianism]] ([[consequentialist libertarianism|consequentialist libertarians]] do not base their libertarianism on it).&lt;ref&gt;[http://www.libertyunbound.com/archive/2005_01/editors-right.html What's Right vs. What Works]. Charles Murray, David Friedman, David Boaz, and R.W. Bradford. ''Liberty''. January 2005, Vol 15, No 1&lt;/ref&gt; It is an [[axiom]] of some forms of [[anarchism]], and traces of it can be found in [[Judaism]], [[Christianity]], and [[Islam]], as well as in Eastern philosophies such as [[Taoism]].&lt;ref&gt;[http://mises.org/daily/3903 Libertarianism in Ancient China] Murray N. Rothbard ''Libertarianism in Ancient China''&lt;/ref&gt;<br /> <br /> ==Definition==<br /> Libertarians typically claim that the non-aggression principle includes [[property]] and [[freedom of contract]] as a part of self-ownership. The basis for this extension of self-ownership to one's property is [[John Locke]]'s argument (also called the [[homestead principle]]) that mixing of labor with an unowned resource makes that resource part of one's self. Subsequent [[exchange]] of such property (e.g. sale, rental) simply transfers this right. Hence, to aggress against someone's property is to aggress against the individual. As for freedom of contract, the right of self-ownership is held to imply freedom of action in the absence of aggression (e.g. in the absence of false or duress contracts, and the absence of contracts stipulating aggression against third-parties).<br /> <br /> ==Consequences==<br /> If these two rights to private property and to freedom of contract are taken as given, then the non-aggression principle is held by its supporters to lead to the rejection of [[theft]], [[vandalism]], [[assault]], [[fraud]] and [[victimless crimes]].<br /> <br /> When applied to the [[state (polity)|state]], it has been taken to prohibit many policies including [[taxation]], the [[military draft]], [[regulation]] of voluntary exchange and individual participation in non-defensive state wars. When taken to the logical conclusion, [[anarchists]] argue that it calls for abolition of the state itself, asserting that individuals would be protected from aggression by what amount to insurance contracts with private organizations, through a militia union, or completely by self-defense. This proposed system resembles fire protection services in colonial Philadelphia.<br /> <br /> The [[United States Libertarian Party]] and others view it as an essential tenet of all [[libertarianism|libertarian]] thought.<br /> <br /> ==Justification==<br /> The principle has been derived by various philosophical approaches, including:<br /> * [[Argumentation ethics]]. [[Hans-Hermann Hoppe]] has argued that [[property rights]] are inalienable;<br /> * [[Natural law]]. [[Murray Rothbard]] has made efforts to derive non-aggression from [[self-ownership]];<br /> * [[Contractarianism]];&lt;ref&gt;[http://www.daviddfriedman.com/Academic/Property/Property.html A Positive Account of Property Rights]. David Friedman. Originally published in Social Philosophy &amp; Policy, volume 11, number 2 (Summer 1994), published by Cambridge University Press.&lt;/ref&gt;<br /> * [[Objectivism (Ayn Rand)|Objectivism]]. [[Ayn Rand]] has made efforts in deriving the principle from the [[right to life]]; and<br /> * [[Universally Preferable Behavior]]. [[Stefan Molyneux]] formulated a rational proof of secular ethics that made an effort to validate the non-aggression principle.<br /> <br /> ==Historical formulations and background==<br /> {| class=&quot;wikitable&quot; style=&quot;text-align:left;border-collapse:collapse;&quot; cellpadding=&quot;2&quot;<br /> |+ Historical formulations of the non-aggression principle<br /> |-<br /> ! style=&quot;background:#efefef;&quot;| Year<br /> ! style=&quot;background:#efefef;&quot;| Formulated by<br /> ! style=&quot;background:#efefef;&quot;| Formulation<br /> |-<br /> |300's BC<br /> |[[Epicurus]]<br /> |&quot;Natural justice is a symbol or expression of usefullness, to prevent one person from harming or being harmed by another.&quot;&lt;ref&gt;[http://classics.mit.edu/Epicurus/princdoc.html]&lt;/ref&gt;<br /> |-<br /> |900's<br /> |[[Abu Mansur Al Maturidi]], [[Ibn Qayyim Al-Jawziyya]], [[Averroes]]<br /> |These Islamic theologians and philosopher wrote that man could rationally know that man had a right to life and property. <br /> |-<br /> |early 1200's<br /> |[[Ibn Tufayl]]<br /> |In [[Hayy ibn Yaqzan]] the Islamic philosopher discussed the life story of a baby living alone without prior knowledge who discovered natural law, and natural rights, which obliged man not to coerce against another's life or property. Ibn Tufayl influenced Locke's notion of [[Tabula Rasa]].&lt;ref&gt;G. A. Russell (1994), ''The 'Arabick' Interest of the Natural Philosophers in Seventeenth-Century England'', pp. 224-239, [[Brill Publishers]], ISBN 9004094598.&lt;/ref&gt;<br /> |-<br /> |1618<br /> |[[John Locke]]<br /> |In [[Second Treatise on Government]] he wrote &quot;Being all equal and independent, no one ought to harm another in his life, health, liberty, or possessions.&quot;&lt;ref&gt;http://oregonstate.edu/instruct/phl302/texts/locke/locke2/locke2nd-a.html#Sect.%206.&lt;/ref&gt; <br /> |-<br /> |1682<br /> |[[Samuel von Pufendorf]]<br /> |In ''On the Duty of Man and Citizen'' he wrote &quot;Among the absolute duties, i.e., of anybody to anybody, the first place belongs to this one: let no one injure another. For this is the broadest of all duties, embracing all men as such.&quot;&lt;ref&gt;http://www.constitution.org/puf/puf-dut_106.htm&lt;/ref&gt; <br /> |-<br /> |1722<br /> |[[William Wollaston]]<br /> |In ''The Religion of Nature Delineated'' he formulated &quot;No man can have a right to begin to interrupt the happiness of another.&quot; This formulation emphasized &quot;begin&quot; to distinguish aggressive disturbances from those in self-defense (&quot;...yet every man has a right to defend himself and his against violence, to recover what is taken by force from him, and even to make reprisals, by all the means that truth and prudence permit.&quot;)<br /> |-<br /> |1790<br /> |[[Mary Wollstonecraft]]<br /> |(&quot;Vindication of the Rights of Men&quot;) &quot;The birthright of man ... is such a degree of liberty, civil and religious, as is compatible with the liberty of every other individual with whom he is united in a social compact, and the continued existence of that compact.&quot;&lt;ref&gt;[http://oll.libertyfund.org/Home3/Book.php?recordID=0532]&lt;/ref&gt;<br /> |-<br /> |1816<br /> |[[Thomas Jefferson]]<br /> |&quot;Rightful liberty is unobstructed action according to our will within limits drawn around us by the equal rights of others. I do not add 'within the limits of the law', because law is often but the tyrant's will, and always so when it violates the rights of the individual.&quot; and &quot;No man has a natural right to commit aggression on the equal rights of another, and this is all from which the laws ought to restrain him.&quot; (Thomas Jefferson to Francis Gilmer, 1816)<br /> |-<br /> |1851<br /> |[[Herbert Spencer]]<br /> |The [[law of equal freedom]]: &quot;Every man is free to do that which he wills, provided he infringes not the equal freedom of any other man.&quot; This notion of equal freedom goes back to earlier liberal thought.<br /> |-<br /> |1859<br /> |[[John Stuart Mill]]<br /> | The [[harm principle]] formulated in [[On Liberty]], states that &quot;the only purpose for which power can be rightfully exercised over any member of a civilized community, against his will, is to prevent harm to others&quot;.<br /> |-<br /> |1961<br /> |[[Ayn Rand]]<br /> |In an essay called &quot;Man's Rights&quot; in the book &quot;[[The Virtue of Selfishness]]&quot; she formulated &quot;The precondition of a civilized society is the barring of physical force from social relationships. ... In a civilized society, force may be used only in retaliation and only against those who initiate its use.&quot;&lt;ref&gt;http://www.ccsindia.org/ccsindia/lssreader/2lssreader.pdf&lt;/ref&gt;&lt;ref&gt;http://www.freedomkeys.com/ar-rootsofwar.htm&lt;/ref&gt;&lt;ref&gt;http://freedomkeys.com/faithandforce.htm&lt;/ref&gt; Note that she stipulated the context - civilized society.<br /> |-<br /> |1963<br /> |[[Murray Rothbard]]<br /> |&quot;No one may threaten or commit violence ('aggress') against another man's person or property. Violence may be employed only against the man who commits such violence; that is, only defensively against the aggressive violence of another. In short, no violence may be employed against a nonaggressor. Here is the fundamental rule from which can be deduced the entire corpus of libertarian theory.&quot; Cited from &quot;War, Peace, and the State&quot; (1963) which appeared [[Egalitarianism as a Revolt Against Nature and Other Essays]]&lt;ref&gt;http://www.lewrockwell.com/rothbard/rothbard26.html&lt;/ref&gt; <br /> |-<br /> |<br /> |[[L. Neil Smith]]<br /> |The libertarian science fiction writer, claims, &quot;No one has the right, under any circumstances, to initiate force against another human being, nor to delegate its initiation.&quot; This is considered an imprecise formulation, since it explicitly ignores context. <br /> |-<br /> |<br /> |[[Walter Block]]<br /> |&quot;It shall be legal for anyone to do anything he wants, provided only that he not initiate (or threaten) violence against the person or legitimately owned property of another.&quot;&lt;ref&gt;http://www.lewrockwell.com/block/block26.html&lt;/ref&gt;<br /> |}<br /> <br /> Natural law theorist [[Murray Rothbard]] traces the non-aggression principle to natural law theorist [[St. Thomas Aquinas]] and the early Thomist scholastics of the Salamanca school [http://www.lewrockwell.com/rothbard/rothbard135.html]. <br /> <br /> Early formulations that use terms such as &quot;harm&quot; or &quot;injury,&quot; such as those of Epicurus and Mill above, are today generally considered imprecise. &quot;Harm&quot; and &quot;injury&quot; are too subjective; one man's harm may be another man's benefit. For example, a squatter may make &quot;improvements&quot; that the owner considers detrimental. Modern formulations avoid such subjectivity by formulating the NAP in terms of [[individual rights]] or observable conduct (''initiation of force/violence'').<br /> <br /> ==Criticism==<br /> The non-aggression principle faces three kinds of criticism: the first holds that the principle is immoral, the second argues that it is impossible to apply consistently in practice, while the third holds that the interpretation of the principle is too ambiguous to be useful; respectively, the consequentialist criticism, the inconsistency criticism, and the ambiguity criticism.<br /> <br /> ===Consequentialist criticism===<br /> This moral criticism is based on [[consequentialism|consequentialist]] [[ethics]], usually [[utilitarianism]]. It holds that the non-aggression principle is unethical because it opposes the initiation of force even when the results of such initiation would be better than the results of any other course of action. Suppose, for instance, that you could save a million lives by killing one innocent man. The non-aggression principle holds that you should not kill that man. But this leads to a million deaths. While such extreme situations are unlikely, opponents of the non-aggression principle argue that milder forms of the same dilemma (for example the choice between taking away part of a wealthy man's property or allowing a poor person to starve) are very common. Of course, many formulations, such as Rothbard's and Block's, avoid this objection by either specifying that the NAP only applies to a civilized context (and not 'lifeboat situations')&lt;ref&gt;{{cite web|url=http://mises.org/daily/1628|title=Lifeboat Situations|last=Rothbard|first=Murray|authorlink=Murray Rothbard|accessdate=2010-05-13}}&lt;/ref&gt; or that it applies only to legal rights (as opposed to general morality.) Thus a starving man may, in consonance with general morality, break into a hunting cabin and steal food, but nevertheless he is aggressing, i.e. violating the NAP, and (by most rectification theories) should pay compensation.<br /> <br /> Some consequentialist libertarians promote the non-aggression principle by basing its advocacy on forms of consequentialism such as [[rule utilitarianism]] and [[rule egoism]]. These utilitarians do not believe that it is categorically immoral to engage in aggression, but because they believe situations where aggression would lead to the best consequences are rare, they promote the non-aggression principle with the justification that if others accept it as a rule it would lead to better consequences than if they did not accept it as a rule. They believe the consequences of advocating the rule are superior to advocating that other individuals attempt to calculate each of their own actions to determine whether aggression or non-aggression would lead to better consequences. Other consequentialist libertarians do not promote the non-aggression principle at all; they simply believe that allowing a very large scope of political and economic liberty results in the maximum well-being or efficiency for a society, even if securing this liberty involves some governmental actions that would be considered violations of the non-aggression principle. It just so happens that these actions are limited in the free society they envision. This type of libertarianism is associated with [[Ludwig von Mises]] and [[Friedrich Hayek]].&lt;ref&gt;Barry, Norman P. Review Article:The New Liberalism. B.J. Pol. S. 13, p. 93&lt;/ref&gt;<br /> <br /> ===Inconsistency criticism===<br /> The second type of criticism focuses on the difficulty of determining who exactly ''initiated'' force in many real-life conflicts. As a general rule, each side in a conflict claims that the other &quot;started it&quot;. Sometimes it is plainly clear who initiated force - for example, when a mugger demands a person's wallet. Other times, however, the situation is more complicated. For example, one side may have been the first to ''threaten'' force and the other side may have been the first to actually ''use'' force, or the conflict began such a long time in the past that no one remembers who started it. [[War]]s are a particularly difficult case, because very few of them begin with a country openly declaring that it wants to initiate force on another.<br /> <br /> Libertarians usually respond by stating that such pragmatic issues are well dealt with already in today's legal systems. For instance, an example of a dissipative game is a situation where a person starts insulting another in a bar, the other person responds by shoving, the other throws a punch, and the situation dissipates into a fight. In such cases, both parties are simply guilty of aggression toward the other because the aggression clearly went beyond self defense.{{Citation needed|date=September 2009}}<br /> <br /> A version of this second criticism is often upheld by [[libertarian socialism|libertarian socialists]] and others, who claim that almost every patch of land on Earth was stolen (i.e. obtained through initiation of force) at some point in its history. The stolen land was later inherited or sold until it reached its present owners. Thus, property over land and natural resources is based on the initiation of force. Among those who make this argument, some (such as followers of [[Henry George]]) claim that private property over natural resources is unique in being based on the initiation of force, while others hold that, by extension, private property over ''all'' goods derives from violence, because natural resources are required in the production of all goods.<br /> <br /> Libertarians often reply to the &quot;who started it?&quot; problem by contending that the difficulty in determining who is the transgressor should not dissuade us from engaging in that process.<br /> <br /> Furthermore, libertarians often reply to either variant of this last point with the &quot;water under the bridge&quot; argument: that transgressions of the past cannot all be rectified, and that an act of theft which happened very long ago can reasonably be ignored - since it is irrelevant to people living today. This, however, can generate more charges of inconsistency, because it implies that peaceful possession of property in the present legitimizes theft and/or trespass in the past{{ndash}} the principle known in some contexts as &quot;squatters' rights&quot; and in other contexts as &quot;the right of [[adverse possession]]&quot;. This requires a &quot;cutoff&quot; point: a point in time when illegitimate property becomes legitimate property. Opponents argue that any such point is arbitrary.<br /> <br /> One prominent [[Anarcho-capitalism|anarcho-capitalist]] theorist, [[Murray Rothbard]], argued that much private property in the U.S. southwest ought to be taken from its present private owners, and given to the lawful heirs of those who had claim to it under Mexican law before the [[Mexican–American War]], although he also regarded this case as historically unique.<br /> <br /> Another reply can be made on the basis of the existence of proof of possession and individuality of owners. That is: if current heirs of long dead property owners can identify the property that has been stolen and ''prove'' that the owner has passed down to him or her his initial right of property - then those persons must be recognized as the rightful owners. This is similar to the &quot;innocent until proven guilty&quot; proposition of modern law, that owners should be regarded as legitimate until proven differently.<br /> <br /> ===Ambiguity criticism===<br /> In addition to the above two kinds of criticism, there is also a debate around the manner in which libertarians typically ''interpret'' the non-aggression principle. Specifically, some libertarians see [[tax]]es as a [[Taxation as theft|form of government aggression]]. However, unless their libertarianism is of such an absolute degree that it opposes any kind of state, some consider taxation as a &quot;necessary evil.&quot; They may argue that because of the [[free-rider problem]], enough funds would not be obtainable by voluntary means to protect individuals from aggression of a greater severity. Hence, they will accept taxation as long as no more is levied than is necessary to ''optimise'' protection of individuals against aggression (from other individuals and from government itself). On the other hand, many libertarian anarchists, as strict adherents to the non-aggression principle, argue that security should be maintained by voluntary payment to [[Private defense agency|private defense forces]], rather than taxation. Both anarchists and opponents of libertarianism in general have made the argument that the non-aggression principle, if embraced in a pure or absolute sense, forbids the existence of states. Anarchists use this argument in their attempts to convert other libertarians to their views, while opponents of libertarianism use it to support the claim that consistent application of libertarian principles would result in the complete abolition of the state - which, in their view, is an [[extremist]] and absurd position to hold.<br /> <br /> Some radical libertarians argue that [[minarchism]] stemming from the non-aggression principle is logically inconsistent, and consider anarchism to be the natural-rights doctrine applied in full. Others feel that minarchism from a consequentialist libertarian perspective is more cogent and a better alternative to rights-libertarian minarchism.<br /> <br /> ===Social contract===<br /> There are many who oppose the libertarian idea that taxation is a form of aggression on [[social contract]] grounds. Specifically, advocates of most social contract theories see taxes as analogous to contract fees, and tax-collecting governments as agents of an (implicit) agreement among the members of a society to share certain common burdens. However, [[Herbert Spencer]] argues that: &quot;If every man has freedom to do all that he wills, provided he infringes not the equal freedom of any other man, then he is free to drop connection with the state - to relinquish its protection and to refuse paying toward its support. It is self-evident that in so behaving he in no way trenches upon the liberty of others, for his position is a passive one, and while passive he cannot become an aggressor. It is equally self-evident that he cannot be compelled to continue one of a political corporation without a breach of the moral law, seeing that citizenship involves payment of taxes; and the taking away of a man's property against his will is an infringement of his rights&quot; [http://www.panarchy.org/spencer/ignore.state.1851.html]. Some social contract supporters argue that a person is obliged to adhere to the &quot;social contract&quot; by staying within the confines of a state. Rebuttals to this view often turn on whether there is a genuine choice, whether there is a possibility to &quot;opt out.&quot; One possible obstacle is that leaving a country can be difficult and require sacrifice, especially in the case of state-controlled borders (e.g. through the use of border guards, dogs, and walls). Another take on the issue might be that a contract implies willful adherence. Laws of the state are, by their definition, imposed. A state can be compared to the [[Mafia]], from this perspective; meaning that people are 'free' to pay protection tax, but they are still coerced. Other libertarians point out that, as long as all the land on Earth is administered by states, a person may not exit a state without entering another state and, hence, opting out of a social contract would be impossible unless one decides to live in the ocean. Supporters of social contract theories, on the other hand, argue that opting out of many contracts that libertarians do not oppose is also difficult. For example, if a private corporation owned the water supply in a region ''(see &quot;''[[Monopoly]]''&quot;)'', and disgruntled residents of the region found it impossible to establish a new entrant in that market, then the revocation of one's contract with that corporation would mean that one would have to move out of the region. Thus, the argument goes, one's contract with the water corporation is very similar to a social contract.<br /> <br /> Inspired by such considerations, some [[minarchist]]s have suggested establishing social contracts (and taxes or &quot;fees&quot;) only at local or regional levels, the smaller the better, since leaving a neighborhood, for example, is less burdensome and is much better at preserving freedom of choice, than having to leave an entire country. Such a system also introduces an element of competition among the various taxing entities to which a monopolistic central government does not have to answer. On the other hand, this system also makes it difficult to undertake any sort of large-scale public project, since an agreement between different regional governments would be needed. The additional challenges would limit the implementation of large-scale public projects to only those with widespread support, perhaps consolidated through an umbrella organization of smaller governments (e.g., the [[United Nations]], [[European Union]], [[North American Free Trade Agreement]], [[NATO|North Atlantic Treaty Organization]]). Furthermore, lacking a centralized point of taxation control, this system also allows for the creation of &quot;tax havens&quot;: if a certain region has little or no local taxes, many of the rich people from neighboring regions may move to it, thus depriving their original home regions of tax revenue. Whether this is good or bad depends on one's political views.<br /> <br /> Of course, the existence of a social contract, much like the non-aggression principle, is itself a matter of dispute among the advocates of different political ideologies and views. Many libertarians argue that no contract can exist without conscious and voluntary assent by all participants. [[American individualist anarchist]] [[Lysander Spooner]] is a noted proponent of this view, while espousing the non-aggression principle as [[natural law]]. Spooner holds that the fact that governments hold the threat of force over the heads of those who would not pay taxes, any supposed social contract to pay taxes would not be legitimate since legitimate contracts can only be made in the absence of coercion (i.e., they must be voluntary).<br /> <br /> Others argue that a social contract can indeed exist, but that it is an implicit contract between individuals to adhere to the non-aggression principle; these argue that taxation is therefore a violation of the social contract. For example, anarchist [[Pierre-Joseph Proudhon]] maintains that rather than being a contract between man and government, the &quot;social contract is an agreement of man with man; an agreement from which must result what we call society&quot; to &quot;abdicate all pretension to govern each other.&quot;<br /> <br /> ==Notes==<br /> &lt;!--This article uses the Cite.php citation mechanism. If you would like more information on how to add footnotes to this article, please see http://meta.wikimedia.org/wiki/Cite/Cite.php --&gt;<br /> {{Reflist}}<br /> <br /> ==Notes and references==<br /> # {{note|Block2003}} Source: [http://www.lewrockwell.com/block/block26.html (Walter Block 2003)]<br /> # {{note|Block2001}} Source: [http://www.lewrockwell.com/orig/block1.html (Walter Block 2001)]<br /> # {{note|Rothbard}} Murray N. Rothbard, in &quot;War, Peace, and the State&quot;<br /> # {{note|lpmembership}} [https://www.lp.org/membership Libertarian Party Membership Form]<br /> <br /> ==See also==<br /> * [[Harm principle]]<br /> * [[law of equal liberty]]<br /> * [[Natural law]]<br /> * [[Nonviolence]]<br /> * [[Self ownership]]<br /> * [[Simple living]]<br /> * [[Taxation as theft]]<br /> * [[Victimless crime]], [[public order crime]]<br /> <br /> ==External links==<br /> * [http://www.mises.org/rothbard/ethics.pdf ''The Ethics of Liberty''] e-book by [[Murray Rothbard]], Mises.org<br /> * [http://mises.org/books/Socialismcapitalism.pdf ''A Theory of Socialism and Capitalism''] e-book by [[Hans-Hermann Hoppe]], Mises.org<br /> * [http://www.lewrockwell.com/block/block26.html The Non-Aggression Axiom of Libertarianism] by [[Walter Block]], LewRockwell.com<br /> * [http://www.mises.org/asc/2002/ASC8-Machan.pdf Against Utilitarianism; or, Why Not Violate Rights if it'd Do Good] by [[Tibor Machan]], Mises.org<br /> * [http://www.mises.org/story/2103 Economics and Its Ethical Assumptions] by [[Roderick Long]], Mises.org<br /> * [http://www.mises.org/journals/jls/12_2/12_2_5.pdf New Rationalist Directions in Libertarian Rights Theory] by [[N. Stephan Kinsella]], Mises.org<br /> *[http://www.isil.org/resources/introduction.html The Philosophy of Liberty], an animated production, derives a [[libertarianism|libertarian]] philosophy from the principle of self-ownership. Central to this is the non-aggression principle.<br /> <br /> {{Libertarianism}}<br /> {{Anarcho-capitalism}}<br /> <br /> {{DEFAULTSORT:Non-Aggression Principle}}<br /> [[Category:Libertarian theory]]<br /> [[Category:Anarchist theory]]<br /> [[Category:Anarcho-capitalism]]<br /> <br /> [[de:Nichtaggressionsprinzip]]<br /> [[es:Principio de no agresión]]<br /> [[fr:Principe de non-agression]]<br /> [[fi:Nonaggressioperiaate]]<br /> [[nl:non-agressieprincipe]]<br /> [[zh:互不侵犯原則]]</div>

Alex3000 https://wiki.freecapitalists.org/index.php?title=Aggression&diff=13240 2011-02-15T18:15:58Z

<p>Alex3000: </p> <hr /> <div>'''Aggression''' is defined as the ''initiation of physical force'' against other persons or their property, the [[threat]] of such, or [[fraud]] upon other persons or their property.<br /> <br /> Synonymous to the word ''physical force'', simply the word ''force'' or the word ''violence'' is often used.<br /> <br /> The word ''initiation'' means that the force can be causally traced back to the [[will]] of a person. So a person did not initiate the use of force when he was just a domino in a causal chain that he did not initiate by his will.</div>

Alex3000 https://wiki.freecapitalists.org/index.php?title=Aggression&diff=13239 2011-02-15T18:09:48Z

<p>Alex3000: Created page with &quot;&#039;&#039;&#039;Aggression&#039;&#039;&#039; is defined as the &#039;&#039;initiation of physical force&#039;&#039; against other persons or their property, the threat of such, or fraud upon other persons or their prop...&quot;</p> <hr /> <div>'''Aggression''' is defined as the ''initiation of physical force'' against other persons or their property, the [[threat]] of such, or [[fraud]] upon other persons or their property.</div>

Alex3000 https://wiki.freecapitalists.org/index.php?title=Template:New_articles&diff=5728 2010-11-15T17:17:39Z

<p>Alex3000: </p> <hr /> <div>&lt;!--<br /> <br /> Add new texts to the top of the list below. Include a bit of interesting information from the article.<br /> <br /> Remove items as required to keep the main page balanced.<br /> <br /> --&gt;<br /> *'''[[Stefan Molyneux]]''' is a Canadian philosopher, blogger, essayist, author, and host of the Freedomain Radio series of podcasts, living in Mississauga, Canada.<br /> *'''[[Bitcoin]]''' is an open source peer-to-peer electronic cash system with no central server or trusted parties. Users hold the cryptographic keys to their own money and transact directly with each other, with the help of the network to check for double-spending.<br /> *'''[[Intellectual property]]''' is [[property]] in [[ideas]] or patterns. Intellectual property laws are a grant of [[legal privilege]] to originators of ideas, giving them a legal [[right]] to initiate [[force]] against anyone making use of the idea without the permission.<br /> *''''[[Regime uncertainty]]'''' is a factor behind the continuing drag on economic growth in the United States. <br /> *The '''''[[Quarterly Journal of Austrian Economics]]''''''s mission is &quot;to promote the development and extension of Austrian economics and to promote the analysis of contemporary issues in the mainstream of economics from an Austrian perspective.&quot;<br /> <br /> &lt;!-- *** DON'T edit below this line. ***<br /> <br /> <br /> --&gt;&lt;div align=&quot;center&quot; class=&quot;plainlinks&quot; style=&quot;margin: 0.5em auto 0.25; text-align: right; font-size: 92%;&quot;&gt;[http://wiki.mises.org/mediawiki/index.php?title=Template:New_articles&amp;action=edit Add a new article to this box] – [[Special:NewPages|More new articles]]<br /> &lt;/div&gt;<br /> &lt;noinclude&gt;<br /> [[Category:Main Page]]&lt;/noinclude&gt;</div>

Alex3000 https://wiki.freecapitalists.org/index.php?title=Template:New_articles&diff=5723 2010-11-14T18:57:22Z

<p>Alex3000: </p> <hr /> <div>&lt;!--<br /> <br /> Add new texts to the top of the list below. Include a bit of interesting information from the article.<br /> <br /> Remove items as required to keep the main page balanced.<br /> <br /> --&gt;<br /> *'''[[Bitcoin]]''' is an open source peer-to-peer electronic cash system developed by Satoshi Nakamoto. The system is decentralized with no central server or trusted parties. Users hold the cryptographic keys to their own money and transact directly with each other, with the help of the network to check for double-spending.<br /> *'''[[Intellectual property]]''' is [[property]] in [[ideas]] or patterns. Intellectual property laws are a grant of [[legal privilege]] to originators of ideas, giving them a legal [[right]] to [[initiate]] [[force]] against anyone making use of the idea without the permission of the originator of that idea.<br /> *''''[[Regime uncertainty]]'''' is a factor behind the continuing drag on economic growth in the United States. <br /> *The '''''[[Quarterly Journal of Austrian Economics]]''''''s mission is &quot;to promote the development and extension of Austrian economics and to promote the analysis of contemporary issues in the mainstream of economics from an Austrian perspective.&quot;<br /> *The '''[[Mises Academy]]''', founded 2010, is the online teaching service of the [[Mises Institute]].<br /> *[[Frederic Bastiat]]'s &quot;'''[[parable of the broken window]]'''&quot; is a clear example of the law of unintended consequences, and demolishes the argument that destruction of property leads to economic growth.<br /> &lt;!-- *** DON'T edit below this line. ***<br /> <br /> <br /> --&gt;&lt;div align=&quot;center&quot; class=&quot;plainlinks&quot; style=&quot;margin: 0.5em auto 0.25; text-align: right; font-size: 92%;&quot;&gt;[http://wiki.mises.org/mediawiki/index.php?title=Template:New_articles&amp;action=edit Add a new article]<br /> &lt;/div&gt;<br /> &lt;noinclude&gt;<br /> [[Category:Main Page]]&lt;/noinclude&gt;</div>

Alex3000 https://wiki.freecapitalists.org/index.php?title=Bitcoin&diff=7108 2010-11-14T13:28:03Z

<p>Alex3000: </p> <hr /> <div>{{Stub}}<br /> [[File:Bitcoinlogo.png|thumb|300px|right|Bitcoin logo.]]<br /> {{Infobox<br /> | Box title = Software<br /> | Row 1 title= name<br /> | Row 1 info= Bitcoin<br /> | Row 2 title=developer<br /> | Row 2 info= Satoshi Nakamoto<br /> | Row 3 title=latest release version<br /> | Row 3 info = 0.3.12<br /> | Row 4 title=latest release date<br /> | Row 4 info= &quot;2010/09/07&quot;<br /> | Row 5 title=programming language<br /> | Row 5 info = [[Wikipedia:C++]]<br /> | Row 6 title=operating system<br /> | Row 6 info = Windows, Linux, Mac OS X<br /> | Row 7 title=status<br /> | Row 7 info = Beta<br /> | Row 8 title=genre<br /> | Row 8 info= [[Wikipedia:Electronic money|Electronic money]]<br /> | Row 9 title=license<br /> | Row 9 info = [[Wikipedia:MIT License|MIT License]]<br /> | Row 10 title=website<br /> | Row 10 info = [http://www.bitcoin.org/ &quot;www.bitcoin.org&quot;]<br /> }}<br /> {{Infobox<br /> |Box title=Currency<br /> | Row 1 title = currency name<br /> | Row 1 info = Bitcoin<br /> | Row 2 title = using countries<br /> |Row 2 info = ''Internet-based (global)''<br /> | Row 3 title=symbol<br /> | Row 3 info = BTC<br /> | Row 4 title=issuing authority<br /> | Row 4 info= Bitcoin network<br /> | Row 5 title =issuing authority website<br /> | Row 5 info www.bitcoin.org<br /> }}<br /> '''Bitcoin''' is an open source [[Wikipedia:peer-to-peer|peer-to-peer]] [[Wikipedia:electronic cash|electronic cash]] system developed by Satoshi Nakamoto. The system is decentralized with no central server or trusted parties.&lt;ref name=&quot;hartford&quot;&gt;<br /> {{cite news<br /> |title=Is It Time For Digital-Only Dollars?<br /> |first=Phil<br /> |last=Maymin<br /> |date=2010-07-08<br /> |newspaper=Hartford Advocate<br /> |url=http://www.hartfordadvocate.com/commentary/is-it-time-for-digital-only-dollars-2<br /> |accessdate=2010-07-23<br /> }}&lt;/ref&gt; Bitcoin relies on [[Wikipedia:cryptographic|cryptographic]] principles to create unique, unreproducible, and divisible tokens of value. Users hold the [[Wikipedia:Key (cryptography)|cryptographic keys]] to their own money and transact directly with each other, with the help of the network to check for [[Wikipedia:double-spending|double-spending]].&lt;ref name=&quot;infoworld_2010&quot;&gt;<br /> {{cite news<br /> |date=2010-05-24<br /> |title=Open source innovation on the cutting edge<br /> |first=Neil<br /> |last=McAllister <br /> |newspaper=InfoWorld<br /> |url=http://www.infoworld.com/d/open-source/open-source-innovation-the-cutting-edge-582?page=0,2 <br /> |accessdate=2010-07-23<br /> }}&lt;/ref&gt;<br /> <br /> ==Technical basis==<br /> [[File:Hash_tree.png|thumb|300px|right|Bitcoin uses an ever-growing [[Wikipedia:hash tree]] to store, linearize, and verify transactions.]]<br /> <br /> Bitcoin is an implementation of Wei Dai's b-money proposal on [[Wikipedia:Cypherpunks|Cypherpunks]] in 1998 and Nick Szabo's Bitgold proposal.&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=342.msg4508#msg4508 Bitcoin author on external references]&lt;/ref&gt; The principles of the system are described in the Bitcoin White Paper.&lt;ref name=Whitepaper&gt;[http://www.bitcoin.org/sites/default/files/bitcoin.pdf Bitcoin White Paper]&lt;/ref&gt;<br /> <br /> A user on the network has one or several cryptographic identifiers ([[Wikipedia:ECDSA|ECDSA]] keypairs), which represent their [[Wikipedia:wallet|wallet]]. The public key counterpart of this wallet is called an ''address''. The private key, stored only on the user's computer, is used to authorize payments from the user. The wallet or address contain no information about their owner, so they are effectively anonymous.&lt;ref&gt;{{cite news |author=Nathan Willis |date=2010-11-10 |title=Bitcoin: Virtual money created by CPU cycles |publisher=[[Wikipedia:LWN.net]] |url=http://lwn.net/SubscriberLink/414452/ef58a58a62148050/ }}&lt;/ref&gt;<br /> <br /> Each coin of the Bitcoin system has its owner's [[Wikipedia:public key|public key]] on it. The owner can transfer it further by adding the recipient's public key on it, signing it with his private key and broadcasting the transaction to the network. This way, each coin contains its cryptographic ownership history from the creator of the coin to its current owner.<br /> <br /> To prevent users from double-spending their coins (signing the same coin for many recipients), transactions are [[Wikipedia:timestamp|timestamped]] by the network with a [[Wikipedia:proof-of-work system|proof-of-work system]]. The network collects and records new transactions into a chain of blocks. Nodes of the network are constantly racing to complete these blocks by finding a value, that summed up with the block and the hash of the previous block, produces an [[Wikipedia:SHA-256|SHA-256]] hash containing a certain amount of leading zero bits. The average work required by this operation can be calculated and used to timestamp the block's transactions, so that they cannot be invalidated by later double-spending.<br /> <br /> The incentive to use CPU time for running the system is that new coins are created and assigned to the node that manages to complete the new block first. This method of coin creation &quot;was designed to be a digital analogue to gold and silver mining&quot;&lt;ref&gt;[http://www.lewrockwell.com/orig6/luongo7.1.1.html LewRockwell.com article: The FED’s Real Monetary Problem]&lt;/ref&gt;. Once a node successfully creates a block, it broadcasts the block to the network. Other nodes receive the block, perform a proof-of-work check, and add it to their chain if it is valid. As more transactions occur, blocks are created and added ad infinitum. The longest proof-of-work block chain is acknowledged to be the oldest and most reliable account of the transaction history.<br /> <br /> This mechanism is claimed&lt;ref name=Whitepaper /&gt; to be virtually tamper-proof. For an attacker to manipulate the record, he must outpace all of the other nodes on the network to produce the longest proof-of-work. This becomes exponentially more difficult as time passes, because such &quot;tampered&quot; chains would continuously be rejected by nodes attempting to build a valid chain.<br /> <br /> Bitcoin is a completely peer-to-peer network, and every node is able to enter or leave the network at will. When a node joins the network, the longest proof-of-work is automatically accepted as the most reliable one.<br /> <br /> ==Economic aspects==<br /> The average rate of Bitcoin production is tapered such that over time the total number of Bitcoins will approach 21,000,000. After this point, no further Bitcoin production is possible. In this [[Wikipedia:deflation|deflationary]] environment and in situations where large numbers of Bitcoins are either lost or destroyed, the electronic divisibility of Bitcoins is argued to be conducive to downward price adjustments with no practical limitations in the actual storage or transport of Bitcoin value.&lt;ref name=Divisiblity&gt;[http://www.bitcoin.org/smf/index.php?topic=44.0 Divisibility of Bitcoins]&lt;/ref&gt; Rather than relying on the incentive of newly created Bitcoins to package transactions, nodes in this period will likely depend more heavily on their ability to competitively collect transaction fees to process Bitcoin transactions into blocks.&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=165.0 Incentive to Collect Transactions]&lt;/ref&gt;<br /> <br /> ==Monetary and financial benefits==<br /> Given the decentralized nature of Bitcoin and the hard coding of monetary rules within the software, various monetary and financial benefits to potential users exist&lt;ref name=FAQ&gt;[http://www.bitcoin.org/faq Bitcoin FAQ]&lt;/ref&gt;:<br /> <br /> * Direct transfer of monetary value via the internet without a trusted middleman or financial processor.<br /> * Third parties cannot prevent or control transactions.<br /> * Transactions are practically free.<br /> * Bitcoin value is unconnected to possible instability caused by fractional reserve banking and poor central bank policy (see [[Austrian business cycle theory]]).<br /> * Corrupted transactions created by hacked or modified clients are rejected by honest clients.<br /> * The limited inflation of the Bitcoin system’s money supply is distributed evenly by CPU power throughout the network and programmatically created at a rate known to all parties in advance. Inflation cannot therefore be centrally manipulated to effect redistribution of Bitcoin value from general users. <br /> * Given the predetermined rate of Bitcoin creation, the system is further protected against wild swings in supply due to externalities sometimes seen with traditional commodity currencies (see [[Wikipedia:History_of_the_rupee#The_fall_of_the_Rupee|Fall of the Rupee]] due to large discoveries of silver reserves in the New World).<br /> * Bitcoins are potentially divisible to eight decimal points.&lt;ref name=Divisiblity /&gt; There are therefore no practical limitations to downward price adjustments in a deflationary environment.<br /> <br /> According to the author, the design also supports a variety of possible transaction types that have yet to be implemented within the currently available client. These include [[Wikipedia:escrow|escrow]] transactions, [[Wikipedia:surety bond|surety bond]] contracts, third party [[Wikipedia:arbitration|arbitration]], and multi-party signatures.&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=195.msg1611#msg1611 Predicate Transactions]&lt;/ref&gt;<br /> <br /> ==Acceptance==<br /> <br /> As of august 2010 there are roughly 30 sites accepting payment via Bitcoin&lt;ref name=AcceptingSites&gt;[http://www.bitcoin.org/trade List of sites accepting Bitcoin]&lt;/ref&gt;, spanning areas such as [[Wikipedia:VOIP|digital telephony]] services&lt;ref&gt;[http://forum.link2voip.com/viewtopic.php?f=1&amp;t=1088 Link2VoIP (www.link2voip.com) accepts Bitcoin as payment.]&lt;/ref&gt;, [[Wikipedia:currency trading]] systems&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=20.msg747#msg747 Bitcoin Trading System.]&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.bitcointo.com/|title=Bitcointo, a Bitcoin to physical goods conversion service}}&lt;/ref&gt;, online games&lt;ref&gt;{{cite web|url=http://www.atitd.com/|title=A Tale in the Desert IV accepts Bitcoin as payment}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.sirarthur.net/bitcasino|title=BitCoin Casino}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.thefarwilds.com/|title=The Far Wilds, online game accepting Bitcoin as payment}}&lt;/ref&gt;, physical goods&lt;ref&gt;{{cite web|url=http://qextracts.ecrater.com/|title=Quiggle extracts, online apothecary accepting bitcoins as payment}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.theoddshot.com.au/|title=The Odd Shot, a print photography business accepting bitcoins as payment}}&lt;/ref&gt;, advertising services&lt;ref&gt;{{cite web|url=http://www.bitads.tk/|title=Bitads, advertising system accepting Bitcoins as payment}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.bitlist.tk/|title=Bitlist, advertising system accepting Bitcoins as payment}}&lt;/ref&gt;, auction systems&lt;ref&gt;{{cite web|title=BiddingPond.com, a Bitcoin-powered auction system|url=http://www.biddingpond.com/}}&lt;/ref&gt;, web hosting&lt;ref&gt;{{cite web|url=http://www.privacyshark.com/|title=Privacy Shark, anonymous Bitcoin-based domain name and DNS hosting services}}&lt;/ref&gt;, computer security auditing&lt;ref&gt;{{cite web|url=http://binarysecurity.webs.com/|title=Binary Security, Bitcoin only web application security auditing services}}&lt;/ref&gt; and other online services. Also [EFF] accepts donation in bitcoins yay<br /> <br /> ==See also==<br /> *[[Wikipedia:Anonymous internet banking|Anonymous internet banking]]<br /> *[[Wikipedia:Crypto-anarchy|Crypto-anarchy]]<br /> *[[Wikipedia:eCache|eCache]]<br /> *[[Wikipedia:HashCash|HashCash]]<br /> *[[Wikipedia:Pecunix|Pecunix]]<br /> *[[Wikipedia:Ripple monetary system|Ripple monetary system]]<br /> *[[Wikipedia:Yodelbank|Yodelbank]]<br /> <br /> ==References==<br /> {{Reflist|1}}<br /> <br /> ==External links==<br /> *[http://www.bitcoin.org/ Official website]<br /> *[https://www.bitcoin.org/wiki/doku.php Bitcoin wiki]<br /> * [http://sourceforge.net/projects/bitcoin/ Bitcoin at sourceforge]<br /> *[http://news.slashdot.org/story/10/07/11/1747245/Bitcoin-Releases-Version-03 news.slashdot.org]<br /> *[http://p2pfoundation.ning.com/profiles/blogs/bitcoin-open-source-p2p-ecash p2pfoundation.net]<br /> *''[http://modeledbehavior.com/2010/06/30/bitcoin-and-the-wild-west/ Bitcoin and the Wild West]'', Modeled Behaviour blog.<br /> *[http://dailypaul.com/node/139776 dailypaul.com]<br /> *[http://www.reddit.com/domain/bitcoin.org/ reddit.com]<br /> *[http://habrahabr.ru/blogs/crypto/99100/ Russian blog]<br /> *[http://www.linux.org.ru/news/opensource/5113340 linux.org.ru]<br /> <br /> [[Category:Currency]]<br /> [[Category:Electronic currencies]] --&gt;</div>

Alex3000 https://wiki.freecapitalists.org/index.php?title=File:Bitcoinlogo.png&diff=7148 2010-11-14T13:12:40Z

<p>Alex3000: Bitcoin logo</p> <hr /> <div>Bitcoin logo</div>

Alex3000 https://wiki.freecapitalists.org/index.php?title=Bitcoin&diff=7107 2010-11-14T13:05:34Z

<p>Alex3000: /* External links */</p> <hr /> <div>{{Stub}}<br /> {{Infobox<br /> | Box title = Software<br /> | Row 1 title= name<br /> | Row 1 info= Bitcoin<br /> | Row 2 title=developer<br /> | Row 2 info= Satoshi Nakamoto<br /> | Row 3 title=latest release version<br /> | Row 3 info = 0.3.12<br /> | Row 4 title=latest release date<br /> | Row 4 info= &quot;2010/09/07&quot;<br /> | Row 5 title=programming language<br /> | Row 5 info = [[Wikipedia:C++]]<br /> | Row 6 title=operating system<br /> | Row 6 info = Windows, Linux, Mac OS X<br /> | Row 7 title=status<br /> | Row 7 info = Beta<br /> | Row 8 title=genre<br /> | Row 8 info= [[Wikipedia:Electronic money|Electronic money]]<br /> | Row 9 title=license<br /> | Row 9 info = [[Wikipedia:MIT License|MIT License]]<br /> | Row 10 title=website<br /> | Row 10 info = [http://www.bitcoin.org/ &quot;www.bitcoin.org&quot;]<br /> }}<br /> {{Infobox<br /> |Box title=Currency<br /> | Row 1 title = currency name<br /> | Row 1 info = Bitcoin<br /> | Row 2 title = using countries<br /> |Row 2 info = ''Internet-based (global)''<br /> | Row 3 title=symbol<br /> | Row 3 info = BTC<br /> | Row 4 title=issuing authority<br /> | Row 4 info= Bitcoin network<br /> | Row 5 title =issuing authority website<br /> | Row 5 info www.bitcoin.org<br /> }}<br /> '''Bitcoin''' is an open source [[Wikipedia:peer-to-peer|peer-to-peer]] [[Wikipedia:electronic cash|electronic cash]] system developed by Satoshi Nakamoto. The system is decentralized with no central server or trusted parties.&lt;ref name=&quot;hartford&quot;&gt;<br /> {{cite news<br /> |title=Is It Time For Digital-Only Dollars?<br /> |first=Phil<br /> |last=Maymin<br /> |date=2010-07-08<br /> |newspaper=Hartford Advocate<br /> |url=http://www.hartfordadvocate.com/commentary/is-it-time-for-digital-only-dollars-2<br /> |accessdate=2010-07-23<br /> }}&lt;/ref&gt; Bitcoin relies on [[Wikipedia:cryptographic|cryptographic]] principles to create unique, unreproducible, and divisible tokens of value. Users hold the [[Wikipedia:Key (cryptography)|cryptographic keys]] to their own money and transact directly with each other, with the help of the network to check for [[Wikipedia:double-spending|double-spending]].&lt;ref name=&quot;infoworld_2010&quot;&gt;<br /> {{cite news<br /> |date=2010-05-24<br /> |title=Open source innovation on the cutting edge<br /> |first=Neil<br /> |last=McAllister <br /> |newspaper=InfoWorld<br /> |url=http://www.infoworld.com/d/open-source/open-source-innovation-the-cutting-edge-582?page=0,2 <br /> |accessdate=2010-07-23<br /> }}&lt;/ref&gt;<br /> <br /> ==Technical basis==<br /> [[File:Hash_tree.png|thumb|300px|right|Bitcoin uses an ever-growing [[Wikipedia:hash tree]] to store, linearize, and verify transactions.]]<br /> <br /> Bitcoin is an implementation of Wei Dai's b-money proposal on [[Wikipedia:Cypherpunks|Cypherpunks]] in 1998 and Nick Szabo's Bitgold proposal.&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=342.msg4508#msg4508 Bitcoin author on external references]&lt;/ref&gt; The principles of the system are described in the Bitcoin White Paper.&lt;ref name=Whitepaper&gt;[http://www.bitcoin.org/sites/default/files/bitcoin.pdf Bitcoin White Paper]&lt;/ref&gt;<br /> <br /> A user on the network has one or several cryptographic identifiers ([[Wikipedia:ECDSA|ECDSA]] keypairs), which represent their [[Wikipedia:wallet|wallet]]. The public key counterpart of this wallet is called an ''address''. The private key, stored only on the user's computer, is used to authorize payments from the user. The wallet or address contain no information about their owner, so they are effectively anonymous.&lt;ref&gt;{{cite news |author=Nathan Willis |date=2010-11-10 |title=Bitcoin: Virtual money created by CPU cycles |publisher=[[Wikipedia:LWN.net]] |url=http://lwn.net/SubscriberLink/414452/ef58a58a62148050/ }}&lt;/ref&gt;<br /> <br /> Each coin of the Bitcoin system has its owner's [[Wikipedia:public key|public key]] on it. The owner can transfer it further by adding the recipient's public key on it, signing it with his private key and broadcasting the transaction to the network. This way, each coin contains its cryptographic ownership history from the creator of the coin to its current owner.<br /> <br /> To prevent users from double-spending their coins (signing the same coin for many recipients), transactions are [[Wikipedia:timestamp|timestamped]] by the network with a [[Wikipedia:proof-of-work system|proof-of-work system]]. The network collects and records new transactions into a chain of blocks. Nodes of the network are constantly racing to complete these blocks by finding a value, that summed up with the block and the hash of the previous block, produces an [[Wikipedia:SHA-256|SHA-256]] hash containing a certain amount of leading zero bits. The average work required by this operation can be calculated and used to timestamp the block's transactions, so that they cannot be invalidated by later double-spending.<br /> <br /> The incentive to use CPU time for running the system is that new coins are created and assigned to the node that manages to complete the new block first. This method of coin creation &quot;was designed to be a digital analogue to gold and silver mining&quot;&lt;ref&gt;[http://www.lewrockwell.com/orig6/luongo7.1.1.html LewRockwell.com article: The FED’s Real Monetary Problem]&lt;/ref&gt;. Once a node successfully creates a block, it broadcasts the block to the network. Other nodes receive the block, perform a proof-of-work check, and add it to their chain if it is valid. As more transactions occur, blocks are created and added ad infinitum. The longest proof-of-work block chain is acknowledged to be the oldest and most reliable account of the transaction history.<br /> <br /> This mechanism is claimed&lt;ref name=Whitepaper /&gt; to be virtually tamper-proof. For an attacker to manipulate the record, he must outpace all of the other nodes on the network to produce the longest proof-of-work. This becomes exponentially more difficult as time passes, because such &quot;tampered&quot; chains would continuously be rejected by nodes attempting to build a valid chain.<br /> <br /> Bitcoin is a completely peer-to-peer network, and every node is able to enter or leave the network at will. When a node joins the network, the longest proof-of-work is automatically accepted as the most reliable one.<br /> <br /> ==Economic aspects==<br /> The average rate of Bitcoin production is tapered such that over time the total number of Bitcoins will approach 21,000,000. After this point, no further Bitcoin production is possible. In this [[Wikipedia:deflation|deflationary]] environment and in situations where large numbers of Bitcoins are either lost or destroyed, the electronic divisibility of Bitcoins is argued to be conducive to downward price adjustments with no practical limitations in the actual storage or transport of Bitcoin value.&lt;ref name=Divisiblity&gt;[http://www.bitcoin.org/smf/index.php?topic=44.0 Divisibility of Bitcoins]&lt;/ref&gt; Rather than relying on the incentive of newly created Bitcoins to package transactions, nodes in this period will likely depend more heavily on their ability to competitively collect transaction fees to process Bitcoin transactions into blocks.&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=165.0 Incentive to Collect Transactions]&lt;/ref&gt;<br /> <br /> ==Monetary and financial benefits==<br /> Given the decentralized nature of Bitcoin and the hard coding of monetary rules within the software, various monetary and financial benefits to potential users exist&lt;ref name=FAQ&gt;[http://www.bitcoin.org/faq Bitcoin FAQ]&lt;/ref&gt;:<br /> <br /> * Direct transfer of monetary value via the internet without a trusted middleman or financial processor.<br /> * Third parties cannot prevent or control transactions.<br /> * Transactions are practically free.<br /> * Bitcoin value is unconnected to possible instability caused by fractional reserve banking and poor central bank policy (see [[Austrian business cycle theory]]).<br /> * Corrupted transactions created by hacked or modified clients are rejected by honest clients.<br /> * The limited inflation of the Bitcoin system’s money supply is distributed evenly by CPU power throughout the network and programmatically created at a rate known to all parties in advance. Inflation cannot therefore be centrally manipulated to effect redistribution of Bitcoin value from general users. <br /> * Given the predetermined rate of Bitcoin creation, the system is further protected against wild swings in supply due to externalities sometimes seen with traditional commodity currencies (see [[Wikipedia:History_of_the_rupee#The_fall_of_the_Rupee|Fall of the Rupee]] due to large discoveries of silver reserves in the New World).<br /> * Bitcoins are potentially divisible to eight decimal points.&lt;ref name=Divisiblity /&gt; There are therefore no practical limitations to downward price adjustments in a deflationary environment.<br /> <br /> According to the author, the design also supports a variety of possible transaction types that have yet to be implemented within the currently available client. These include [[Wikipedia:escrow|escrow]] transactions, [[Wikipedia:surety bond|surety bond]] contracts, third party [[Wikipedia:arbitration|arbitration]], and multi-party signatures.&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=195.msg1611#msg1611 Predicate Transactions]&lt;/ref&gt;<br /> <br /> ==Acceptance==<br /> <br /> As of august 2010 there are roughly 30 sites accepting payment via Bitcoin&lt;ref name=AcceptingSites&gt;[http://www.bitcoin.org/trade List of sites accepting Bitcoin]&lt;/ref&gt;, spanning areas such as [[Wikipedia:VOIP|digital telephony]] services&lt;ref&gt;[http://forum.link2voip.com/viewtopic.php?f=1&amp;t=1088 Link2VoIP (www.link2voip.com) accepts Bitcoin as payment.]&lt;/ref&gt;, [[Wikipedia:currency trading]] systems&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=20.msg747#msg747 Bitcoin Trading System.]&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.bitcointo.com/|title=Bitcointo, a Bitcoin to physical goods conversion service}}&lt;/ref&gt;, online games&lt;ref&gt;{{cite web|url=http://www.atitd.com/|title=A Tale in the Desert IV accepts Bitcoin as payment}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.sirarthur.net/bitcasino|title=BitCoin Casino}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.thefarwilds.com/|title=The Far Wilds, online game accepting Bitcoin as payment}}&lt;/ref&gt;, physical goods&lt;ref&gt;{{cite web|url=http://qextracts.ecrater.com/|title=Quiggle extracts, online apothecary accepting bitcoins as payment}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.theoddshot.com.au/|title=The Odd Shot, a print photography business accepting bitcoins as payment}}&lt;/ref&gt;, advertising services&lt;ref&gt;{{cite web|url=http://www.bitads.tk/|title=Bitads, advertising system accepting Bitcoins as payment}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.bitlist.tk/|title=Bitlist, advertising system accepting Bitcoins as payment}}&lt;/ref&gt;, auction systems&lt;ref&gt;{{cite web|title=BiddingPond.com, a Bitcoin-powered auction system|url=http://www.biddingpond.com/}}&lt;/ref&gt;, web hosting&lt;ref&gt;{{cite web|url=http://www.privacyshark.com/|title=Privacy Shark, anonymous Bitcoin-based domain name and DNS hosting services}}&lt;/ref&gt;, computer security auditing&lt;ref&gt;{{cite web|url=http://binarysecurity.webs.com/|title=Binary Security, Bitcoin only web application security auditing services}}&lt;/ref&gt; and other online services. Also [EFF] accepts donation in bitcoins yay<br /> <br /> ==See also==<br /> *[[Wikipedia:Anonymous internet banking|Anonymous internet banking]]<br /> *[[Wikipedia:Crypto-anarchy|Crypto-anarchy]]<br /> *[[Wikipedia:eCache|eCache]]<br /> *[[Wikipedia:HashCash|HashCash]]<br /> *[[Wikipedia:Pecunix|Pecunix]]<br /> *[[Wikipedia:Ripple monetary system|Ripple monetary system]]<br /> *[[Wikipedia:Yodelbank|Yodelbank]]<br /> <br /> ==References==<br /> {{Reflist|1}}<br /> <br /> ==External links==<br /> *[http://www.bitcoin.org/ Official website]<br /> *[https://www.bitcoin.org/wiki/doku.php Bitcoin wiki]<br /> * [http://sourceforge.net/projects/bitcoin/ Bitcoin at sourceforge]<br /> *[http://news.slashdot.org/story/10/07/11/1747245/Bitcoin-Releases-Version-03 news.slashdot.org]<br /> *[http://p2pfoundation.ning.com/profiles/blogs/bitcoin-open-source-p2p-ecash p2pfoundation.net]<br /> *''[http://modeledbehavior.com/2010/06/30/bitcoin-and-the-wild-west/ Bitcoin and the Wild West]'', Modeled Behaviour blog.<br /> *[http://dailypaul.com/node/139776 dailypaul.com]<br /> *[http://www.reddit.com/domain/bitcoin.org/ reddit.com]<br /> *[http://habrahabr.ru/blogs/crypto/99100/ Russian blog]<br /> *[http://www.linux.org.ru/news/opensource/5113340 linux.org.ru]<br /> <br /> [[Category:Currency]]<br /> [[Category:Electronic currencies]] --&gt;</div>

Alex3000 https://wiki.freecapitalists.org/index.php?title=Bitcoin&diff=7106 2010-11-14T12:57:54Z

<p>Alex3000: /* Technical basis */</p> <hr /> <div>{{Stub}}<br /> {{Infobox<br /> | Box title = Software<br /> | Row 1 title= name<br /> | Row 1 info= Bitcoin<br /> | Row 2 title=developer<br /> | Row 2 info= Satoshi Nakamoto<br /> | Row 3 title=latest release version<br /> | Row 3 info = 0.3.12<br /> | Row 4 title=latest release date<br /> | Row 4 info= &quot;2010/09/07&quot;<br /> | Row 5 title=programming language<br /> | Row 5 info = [[Wikipedia:C++]]<br /> | Row 6 title=operating system<br /> | Row 6 info = Windows, Linux, Mac OS X<br /> | Row 7 title=status<br /> | Row 7 info = Beta<br /> | Row 8 title=genre<br /> | Row 8 info= [[Wikipedia:Electronic money|Electronic money]]<br /> | Row 9 title=license<br /> | Row 9 info = [[Wikipedia:MIT License|MIT License]]<br /> | Row 10 title=website<br /> | Row 10 info = [http://www.bitcoin.org/ &quot;www.bitcoin.org&quot;]<br /> }}<br /> {{Infobox<br /> |Box title=Currency<br /> | Row 1 title = currency name<br /> | Row 1 info = Bitcoin<br /> | Row 2 title = using countries<br /> |Row 2 info = ''Internet-based (global)''<br /> | Row 3 title=symbol<br /> | Row 3 info = BTC<br /> | Row 4 title=issuing authority<br /> | Row 4 info= Bitcoin network<br /> | Row 5 title =issuing authority website<br /> | Row 5 info www.bitcoin.org<br /> }}<br /> '''Bitcoin''' is an open source [[Wikipedia:peer-to-peer|peer-to-peer]] [[Wikipedia:electronic cash|electronic cash]] system developed by Satoshi Nakamoto. The system is decentralized with no central server or trusted parties.&lt;ref name=&quot;hartford&quot;&gt;<br /> {{cite news<br /> |title=Is It Time For Digital-Only Dollars?<br /> |first=Phil<br /> |last=Maymin<br /> |date=2010-07-08<br /> |newspaper=Hartford Advocate<br /> |url=http://www.hartfordadvocate.com/commentary/is-it-time-for-digital-only-dollars-2<br /> |accessdate=2010-07-23<br /> }}&lt;/ref&gt; Bitcoin relies on [[Wikipedia:cryptographic|cryptographic]] principles to create unique, unreproducible, and divisible tokens of value. Users hold the [[Wikipedia:Key (cryptography)|cryptographic keys]] to their own money and transact directly with each other, with the help of the network to check for [[Wikipedia:double-spending|double-spending]].&lt;ref name=&quot;infoworld_2010&quot;&gt;<br /> {{cite news<br /> |date=2010-05-24<br /> |title=Open source innovation on the cutting edge<br /> |first=Neil<br /> |last=McAllister <br /> |newspaper=InfoWorld<br /> |url=http://www.infoworld.com/d/open-source/open-source-innovation-the-cutting-edge-582?page=0,2 <br /> |accessdate=2010-07-23<br /> }}&lt;/ref&gt;<br /> <br /> ==Technical basis==<br /> [[File:Hash_tree.png|thumb|300px|right|Bitcoin uses an ever-growing [[Wikipedia:hash tree]] to store, linearize, and verify transactions.]]<br /> <br /> Bitcoin is an implementation of Wei Dai's b-money proposal on [[Wikipedia:Cypherpunks|Cypherpunks]] in 1998 and Nick Szabo's Bitgold proposal.&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=342.msg4508#msg4508 Bitcoin author on external references]&lt;/ref&gt; The principles of the system are described in the Bitcoin White Paper.&lt;ref name=Whitepaper&gt;[http://www.bitcoin.org/sites/default/files/bitcoin.pdf Bitcoin White Paper]&lt;/ref&gt;<br /> <br /> A user on the network has one or several cryptographic identifiers ([[Wikipedia:ECDSA|ECDSA]] keypairs), which represent their [[Wikipedia:wallet|wallet]]. The public key counterpart of this wallet is called an ''address''. The private key, stored only on the user's computer, is used to authorize payments from the user. The wallet or address contain no information about their owner, so they are effectively anonymous.&lt;ref&gt;{{cite news |author=Nathan Willis |date=2010-11-10 |title=Bitcoin: Virtual money created by CPU cycles |publisher=[[Wikipedia:LWN.net]] |url=http://lwn.net/SubscriberLink/414452/ef58a58a62148050/ }}&lt;/ref&gt;<br /> <br /> Each coin of the Bitcoin system has its owner's [[Wikipedia:public key|public key]] on it. The owner can transfer it further by adding the recipient's public key on it, signing it with his private key and broadcasting the transaction to the network. This way, each coin contains its cryptographic ownership history from the creator of the coin to its current owner.<br /> <br /> To prevent users from double-spending their coins (signing the same coin for many recipients), transactions are [[Wikipedia:timestamp|timestamped]] by the network with a [[Wikipedia:proof-of-work system|proof-of-work system]]. The network collects and records new transactions into a chain of blocks. Nodes of the network are constantly racing to complete these blocks by finding a value, that summed up with the block and the hash of the previous block, produces an [[Wikipedia:SHA-256|SHA-256]] hash containing a certain amount of leading zero bits. The average work required by this operation can be calculated and used to timestamp the block's transactions, so that they cannot be invalidated by later double-spending.<br /> <br /> The incentive to use CPU time for running the system is that new coins are created and assigned to the node that manages to complete the new block first. This method of coin creation &quot;was designed to be a digital analogue to gold and silver mining&quot;&lt;ref&gt;[http://www.lewrockwell.com/orig6/luongo7.1.1.html LewRockwell.com article: The FED’s Real Monetary Problem]&lt;/ref&gt;. Once a node successfully creates a block, it broadcasts the block to the network. Other nodes receive the block, perform a proof-of-work check, and add it to their chain if it is valid. As more transactions occur, blocks are created and added ad infinitum. The longest proof-of-work block chain is acknowledged to be the oldest and most reliable account of the transaction history.<br /> <br /> This mechanism is claimed&lt;ref name=Whitepaper /&gt; to be virtually tamper-proof. For an attacker to manipulate the record, he must outpace all of the other nodes on the network to produce the longest proof-of-work. This becomes exponentially more difficult as time passes, because such &quot;tampered&quot; chains would continuously be rejected by nodes attempting to build a valid chain.<br /> <br /> Bitcoin is a completely peer-to-peer network, and every node is able to enter or leave the network at will. When a node joins the network, the longest proof-of-work is automatically accepted as the most reliable one.<br /> <br /> ==Economic aspects==<br /> The average rate of Bitcoin production is tapered such that over time the total number of Bitcoins will approach 21,000,000. After this point, no further Bitcoin production is possible. In this [[Wikipedia:deflation|deflationary]] environment and in situations where large numbers of Bitcoins are either lost or destroyed, the electronic divisibility of Bitcoins is argued to be conducive to downward price adjustments with no practical limitations in the actual storage or transport of Bitcoin value.&lt;ref name=Divisiblity&gt;[http://www.bitcoin.org/smf/index.php?topic=44.0 Divisibility of Bitcoins]&lt;/ref&gt; Rather than relying on the incentive of newly created Bitcoins to package transactions, nodes in this period will likely depend more heavily on their ability to competitively collect transaction fees to process Bitcoin transactions into blocks.&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=165.0 Incentive to Collect Transactions]&lt;/ref&gt;<br /> <br /> ==Monetary and financial benefits==<br /> Given the decentralized nature of Bitcoin and the hard coding of monetary rules within the software, various monetary and financial benefits to potential users exist&lt;ref name=FAQ&gt;[http://www.bitcoin.org/faq Bitcoin FAQ]&lt;/ref&gt;:<br /> <br /> * Direct transfer of monetary value via the internet without a trusted middleman or financial processor.<br /> * Third parties cannot prevent or control transactions.<br /> * Transactions are practically free.<br /> * Bitcoin value is unconnected to possible instability caused by fractional reserve banking and poor central bank policy (see [[Austrian business cycle theory]]).<br /> * Corrupted transactions created by hacked or modified clients are rejected by honest clients.<br /> * The limited inflation of the Bitcoin system’s money supply is distributed evenly by CPU power throughout the network and programmatically created at a rate known to all parties in advance. Inflation cannot therefore be centrally manipulated to effect redistribution of Bitcoin value from general users. <br /> * Given the predetermined rate of Bitcoin creation, the system is further protected against wild swings in supply due to externalities sometimes seen with traditional commodity currencies (see [[Wikipedia:History_of_the_rupee#The_fall_of_the_Rupee|Fall of the Rupee]] due to large discoveries of silver reserves in the New World).<br /> * Bitcoins are potentially divisible to eight decimal points.&lt;ref name=Divisiblity /&gt; There are therefore no practical limitations to downward price adjustments in a deflationary environment.<br /> <br /> According to the author, the design also supports a variety of possible transaction types that have yet to be implemented within the currently available client. These include [[Wikipedia:escrow|escrow]] transactions, [[Wikipedia:surety bond|surety bond]] contracts, third party [[Wikipedia:arbitration|arbitration]], and multi-party signatures.&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=195.msg1611#msg1611 Predicate Transactions]&lt;/ref&gt;<br /> <br /> ==Acceptance==<br /> <br /> As of august 2010 there are roughly 30 sites accepting payment via Bitcoin&lt;ref name=AcceptingSites&gt;[http://www.bitcoin.org/trade List of sites accepting Bitcoin]&lt;/ref&gt;, spanning areas such as [[Wikipedia:VOIP|digital telephony]] services&lt;ref&gt;[http://forum.link2voip.com/viewtopic.php?f=1&amp;t=1088 Link2VoIP (www.link2voip.com) accepts Bitcoin as payment.]&lt;/ref&gt;, [[Wikipedia:currency trading]] systems&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=20.msg747#msg747 Bitcoin Trading System.]&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.bitcointo.com/|title=Bitcointo, a Bitcoin to physical goods conversion service}}&lt;/ref&gt;, online games&lt;ref&gt;{{cite web|url=http://www.atitd.com/|title=A Tale in the Desert IV accepts Bitcoin as payment}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.sirarthur.net/bitcasino|title=BitCoin Casino}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.thefarwilds.com/|title=The Far Wilds, online game accepting Bitcoin as payment}}&lt;/ref&gt;, physical goods&lt;ref&gt;{{cite web|url=http://qextracts.ecrater.com/|title=Quiggle extracts, online apothecary accepting bitcoins as payment}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.theoddshot.com.au/|title=The Odd Shot, a print photography business accepting bitcoins as payment}}&lt;/ref&gt;, advertising services&lt;ref&gt;{{cite web|url=http://www.bitads.tk/|title=Bitads, advertising system accepting Bitcoins as payment}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.bitlist.tk/|title=Bitlist, advertising system accepting Bitcoins as payment}}&lt;/ref&gt;, auction systems&lt;ref&gt;{{cite web|title=BiddingPond.com, a Bitcoin-powered auction system|url=http://www.biddingpond.com/}}&lt;/ref&gt;, web hosting&lt;ref&gt;{{cite web|url=http://www.privacyshark.com/|title=Privacy Shark, anonymous Bitcoin-based domain name and DNS hosting services}}&lt;/ref&gt;, computer security auditing&lt;ref&gt;{{cite web|url=http://binarysecurity.webs.com/|title=Binary Security, Bitcoin only web application security auditing services}}&lt;/ref&gt; and other online services. Also [EFF] accepts donation in bitcoins yay<br /> <br /> ==See also==<br /> *[[Wikipedia:Anonymous internet banking|Anonymous internet banking]]<br /> *[[Wikipedia:Crypto-anarchy|Crypto-anarchy]]<br /> *[[Wikipedia:eCache|eCache]]<br /> *[[Wikipedia:HashCash|HashCash]]<br /> *[[Wikipedia:Pecunix|Pecunix]]<br /> *[[Wikipedia:Ripple monetary system|Ripple monetary system]]<br /> *[[Wikipedia:Yodelbank|Yodelbank]]<br /> <br /> ==References==<br /> {{Reflist|1}}<br /> <br /> ==External links==<br /> *[http://www.bitcoin.org/ Official website]<br /> *{{SourceForge|bitcoin}}<br /> *[http://news.slashdot.org/story/10/07/11/1747245/Bitcoin-Releases-Version-03 news.slashdot.org]<br /> *[http://p2pfoundation.ning.com/profiles/blogs/bitcoin-open-source-p2p-ecash p2pfoundation.net]<br /> *''[http://modeledbehavior.com/2010/06/30/bitcoin-and-the-wild-west/ Bitcoin and the Wild West]'', Modeled Behaviour blog.<br /> *[http://dailypaul.com/node/139776 dailypaul.com]<br /> *[http://www.reddit.com/domain/bitcoin.org/ reddit.com]<br /> *[http://habrahabr.ru/blogs/crypto/99100/ Russian blog]<br /> *[http://www.linux.org.ru/news/opensource/5113340 linux.org.ru]<br /> <br /> [[Category:Currency]]<br /> [[Category:Electronic currencies]] --&gt;</div>

Alex3000 https://wiki.freecapitalists.org/index.php?title=Bitcoin&diff=7105 2010-11-14T12:54:33Z

<p>Alex3000: </p> <hr /> <div>{{Stub}}<br /> {{Infobox<br /> | Box title = Software<br /> | Row 1 title= name<br /> | Row 1 info= Bitcoin<br /> | Row 2 title=developer<br /> | Row 2 info= Satoshi Nakamoto<br /> | Row 3 title=latest release version<br /> | Row 3 info = 0.3.12<br /> | Row 4 title=latest release date<br /> | Row 4 info= &quot;2010/09/07&quot;<br /> | Row 5 title=programming language<br /> | Row 5 info = [[Wikipedia:C++]]<br /> | Row 6 title=operating system<br /> | Row 6 info = Windows, Linux, Mac OS X<br /> | Row 7 title=status<br /> | Row 7 info = Beta<br /> | Row 8 title=genre<br /> | Row 8 info= [[Wikipedia:Electronic money|Electronic money]]<br /> | Row 9 title=license<br /> | Row 9 info = [[Wikipedia:MIT License|MIT License]]<br /> | Row 10 title=website<br /> | Row 10 info = [http://www.bitcoin.org/ &quot;www.bitcoin.org&quot;]<br /> }}<br /> {{Infobox<br /> |Box title=Currency<br /> | Row 1 title = currency name<br /> | Row 1 info = Bitcoin<br /> | Row 2 title = using countries<br /> |Row 2 info = ''Internet-based (global)''<br /> | Row 3 title=symbol<br /> | Row 3 info = BTC<br /> | Row 4 title=issuing authority<br /> | Row 4 info= Bitcoin network<br /> | Row 5 title =issuing authority website<br /> | Row 5 info www.bitcoin.org<br /> }}<br /> '''Bitcoin''' is an open source [[Wikipedia:peer-to-peer|peer-to-peer]] [[Wikipedia:electronic cash|electronic cash]] system developed by Satoshi Nakamoto. The system is decentralized with no central server or trusted parties.&lt;ref name=&quot;hartford&quot;&gt;<br /> {{cite news<br /> |title=Is It Time For Digital-Only Dollars?<br /> |first=Phil<br /> |last=Maymin<br /> |date=2010-07-08<br /> |newspaper=Hartford Advocate<br /> |url=http://www.hartfordadvocate.com/commentary/is-it-time-for-digital-only-dollars-2<br /> |accessdate=2010-07-23<br /> }}&lt;/ref&gt; Bitcoin relies on [[Wikipedia:cryptographic|cryptographic]] principles to create unique, unreproducible, and divisible tokens of value. Users hold the [[Wikipedia:Key (cryptography)|cryptographic keys]] to their own money and transact directly with each other, with the help of the network to check for [[Wikipedia:double-spending|double-spending]].&lt;ref name=&quot;infoworld_2010&quot;&gt;<br /> {{cite news<br /> |date=2010-05-24<br /> |title=Open source innovation on the cutting edge<br /> |first=Neil<br /> |last=McAllister <br /> |newspaper=InfoWorld<br /> |url=http://www.infoworld.com/d/open-source/open-source-innovation-the-cutting-edge-582?page=0,2 <br /> |accessdate=2010-07-23<br /> }}&lt;/ref&gt;<br /> <br /> ==Technical basis==<br /> [[File:Hash tree.png|thumb|300px|right|Bitcoin uses an ever-growing [[Wikipedia:hash tree]] to store, linearize, and verify transactions.]]<br /> <br /> Bitcoin is an implementation of Wei Dai's b-money proposal on [[Wikipedia:Cypherpunks|Cypherpunks]] in 1998 and Nick Szabo's Bitgold proposal.&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=342.msg4508#msg4508 Bitcoin author on external references]&lt;/ref&gt; The principles of the system are described in the Bitcoin White Paper.&lt;ref name=Whitepaper&gt;[http://www.bitcoin.org/sites/default/files/bitcoin.pdf Bitcoin White Paper]&lt;/ref&gt;<br /> <br /> A user on the network has one or several cryptographic identifiers ([[Wikipedia:ECDSA|ECDSA]] keypairs), which represent their [[Wikipedia:wallet|wallet]]. The public key counterpart of this wallet is called an ''address''. The private key, stored only on the user's computer, is used to authorize payments from the user. The wallet or address contain no information about their owner, so they are effectively anonymous.&lt;ref&gt;{{cite news |author=Nathan Willis |date=2010-11-10 |title=Bitcoin: Virtual money created by CPU cycles |publisher=[[Wikipedia:LWN.net]] |url=http://lwn.net/SubscriberLink/414452/ef58a58a62148050/ }}&lt;/ref&gt;<br /> <br /> Each coin of the Bitcoin system has its owner's [[Wikipedia:public key|public key]] on it. The owner can transfer it further by adding the recipient's public key on it, signing it with his private key and broadcasting the transaction to the network. This way, each coin contains its cryptographic ownership history from the creator of the coin to its current owner.<br /> <br /> To prevent users from double-spending their coins (signing the same coin for many recipients), transactions are [[Wikipedia:timestamp|timestamped]] by the network with a [[Wikipedia:proof-of-work system|proof-of-work system]]. The network collects and records new transactions into a chain of blocks. Nodes of the network are constantly racing to complete these blocks by finding a value, that summed up with the block and the hash of the previous block, produces an [[Wikipedia:SHA-256|SHA-256]] hash containing a certain amount of leading zero bits. The average work required by this operation can be calculated and used to timestamp the block's transactions, so that they cannot be invalidated by later double-spending.<br /> <br /> The incentive to use CPU time for running the system is that new coins are created and assigned to the node that manages to complete the new block first. This method of coin creation &quot;was designed to be a digital analogue to gold and silver mining&quot;&lt;ref&gt;[http://www.lewrockwell.com/orig6/luongo7.1.1.html LewRockwell.com article: The FED’s Real Monetary Problem]&lt;/ref&gt;. Once a node successfully creates a block, it broadcasts the block to the network. Other nodes receive the block, perform a proof-of-work check, and add it to their chain if it is valid. As more transactions occur, blocks are created and added ad infinitum. The longest proof-of-work block chain is acknowledged to be the oldest and most reliable account of the transaction history.<br /> <br /> This mechanism is claimed&lt;ref name=Whitepaper /&gt; to be virtually tamper-proof. For an attacker to manipulate the record, he must outpace all of the other nodes on the network to produce the longest proof-of-work. This becomes exponentially more difficult as time passes, because such &quot;tampered&quot; chains would continuously be rejected by nodes attempting to build a valid chain.<br /> <br /> Bitcoin is a completely peer-to-peer network, and every node is able to enter or leave the network at will. When a node joins the network, the longest proof-of-work is automatically accepted as the most reliable one.<br /> <br /> ==Economic aspects==<br /> The average rate of Bitcoin production is tapered such that over time the total number of Bitcoins will approach 21,000,000. After this point, no further Bitcoin production is possible. In this [[Wikipedia:deflation|deflationary]] environment and in situations where large numbers of Bitcoins are either lost or destroyed, the electronic divisibility of Bitcoins is argued to be conducive to downward price adjustments with no practical limitations in the actual storage or transport of Bitcoin value.&lt;ref name=Divisiblity&gt;[http://www.bitcoin.org/smf/index.php?topic=44.0 Divisibility of Bitcoins]&lt;/ref&gt; Rather than relying on the incentive of newly created Bitcoins to package transactions, nodes in this period will likely depend more heavily on their ability to competitively collect transaction fees to process Bitcoin transactions into blocks.&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=165.0 Incentive to Collect Transactions]&lt;/ref&gt;<br /> <br /> ==Monetary and financial benefits==<br /> Given the decentralized nature of Bitcoin and the hard coding of monetary rules within the software, various monetary and financial benefits to potential users exist&lt;ref name=FAQ&gt;[http://www.bitcoin.org/faq Bitcoin FAQ]&lt;/ref&gt;:<br /> <br /> * Direct transfer of monetary value via the internet without a trusted middleman or financial processor.<br /> * Third parties cannot prevent or control transactions.<br /> * Transactions are practically free.<br /> * Bitcoin value is unconnected to possible instability caused by fractional reserve banking and poor central bank policy (see [[Austrian business cycle theory]]).<br /> * Corrupted transactions created by hacked or modified clients are rejected by honest clients.<br /> * The limited inflation of the Bitcoin system’s money supply is distributed evenly by CPU power throughout the network and programmatically created at a rate known to all parties in advance. Inflation cannot therefore be centrally manipulated to effect redistribution of Bitcoin value from general users. <br /> * Given the predetermined rate of Bitcoin creation, the system is further protected against wild swings in supply due to externalities sometimes seen with traditional commodity currencies (see [[Wikipedia:History_of_the_rupee#The_fall_of_the_Rupee|Fall of the Rupee]] due to large discoveries of silver reserves in the New World).<br /> * Bitcoins are potentially divisible to eight decimal points.&lt;ref name=Divisiblity /&gt; There are therefore no practical limitations to downward price adjustments in a deflationary environment.<br /> <br /> According to the author, the design also supports a variety of possible transaction types that have yet to be implemented within the currently available client. These include [[Wikipedia:escrow|escrow]] transactions, [[Wikipedia:surety bond|surety bond]] contracts, third party [[Wikipedia:arbitration|arbitration]], and multi-party signatures.&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=195.msg1611#msg1611 Predicate Transactions]&lt;/ref&gt;<br /> <br /> ==Acceptance==<br /> <br /> As of august 2010 there are roughly 30 sites accepting payment via Bitcoin&lt;ref name=AcceptingSites&gt;[http://www.bitcoin.org/trade List of sites accepting Bitcoin]&lt;/ref&gt;, spanning areas such as [[Wikipedia:VOIP|digital telephony]] services&lt;ref&gt;[http://forum.link2voip.com/viewtopic.php?f=1&amp;t=1088 Link2VoIP (www.link2voip.com) accepts Bitcoin as payment.]&lt;/ref&gt;, [[Wikipedia:currency trading]] systems&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=20.msg747#msg747 Bitcoin Trading System.]&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.bitcointo.com/|title=Bitcointo, a Bitcoin to physical goods conversion service}}&lt;/ref&gt;, online games&lt;ref&gt;{{cite web|url=http://www.atitd.com/|title=A Tale in the Desert IV accepts Bitcoin as payment}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.sirarthur.net/bitcasino|title=BitCoin Casino}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.thefarwilds.com/|title=The Far Wilds, online game accepting Bitcoin as payment}}&lt;/ref&gt;, physical goods&lt;ref&gt;{{cite web|url=http://qextracts.ecrater.com/|title=Quiggle extracts, online apothecary accepting bitcoins as payment}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.theoddshot.com.au/|title=The Odd Shot, a print photography business accepting bitcoins as payment}}&lt;/ref&gt;, advertising services&lt;ref&gt;{{cite web|url=http://www.bitads.tk/|title=Bitads, advertising system accepting Bitcoins as payment}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.bitlist.tk/|title=Bitlist, advertising system accepting Bitcoins as payment}}&lt;/ref&gt;, auction systems&lt;ref&gt;{{cite web|title=BiddingPond.com, a Bitcoin-powered auction system|url=http://www.biddingpond.com/}}&lt;/ref&gt;, web hosting&lt;ref&gt;{{cite web|url=http://www.privacyshark.com/|title=Privacy Shark, anonymous Bitcoin-based domain name and DNS hosting services}}&lt;/ref&gt;, computer security auditing&lt;ref&gt;{{cite web|url=http://binarysecurity.webs.com/|title=Binary Security, Bitcoin only web application security auditing services}}&lt;/ref&gt; and other online services. Also [EFF] accepts donation in bitcoins yay<br /> <br /> ==See also==<br /> *[[Wikipedia:Anonymous internet banking|Anonymous internet banking]]<br /> *[[Wikipedia:Crypto-anarchy|Crypto-anarchy]]<br /> *[[Wikipedia:eCache|eCache]]<br /> *[[Wikipedia:HashCash|HashCash]]<br /> *[[Wikipedia:Pecunix|Pecunix]]<br /> *[[Wikipedia:Ripple monetary system|Ripple monetary system]]<br /> *[[Wikipedia:Yodelbank|Yodelbank]]<br /> <br /> ==References==<br /> {{Reflist|1}}<br /> <br /> ==External links==<br /> *[http://www.bitcoin.org/ Official website]<br /> *{{SourceForge|bitcoin}}<br /> *[http://news.slashdot.org/story/10/07/11/1747245/Bitcoin-Releases-Version-03 news.slashdot.org]<br /> *[http://p2pfoundation.ning.com/profiles/blogs/bitcoin-open-source-p2p-ecash p2pfoundation.net]<br /> *''[http://modeledbehavior.com/2010/06/30/bitcoin-and-the-wild-west/ Bitcoin and the Wild West]'', Modeled Behaviour blog.<br /> *[http://dailypaul.com/node/139776 dailypaul.com]<br /> *[http://www.reddit.com/domain/bitcoin.org/ reddit.com]<br /> *[http://habrahabr.ru/blogs/crypto/99100/ Russian blog]<br /> *[http://www.linux.org.ru/news/opensource/5113340 linux.org.ru]<br /> <br /> [[Category:Currency]]<br /> [[Category:Electronic currencies]] --&gt;</div>

Alex3000 https://wiki.freecapitalists.org/index.php?title=Bitcoin&diff=7104 2010-11-14T12:53:35Z

<p>Alex3000: </p> <hr /> <div>{{Stub}}<br /> {{Infobox<br /> | Box title = Software<br /> | Row 1 title= name<br /> | Row 1 info= Bitcoin<br /> | Row 2 title=developer<br /> | Row 2 info= Satoshi Nakamoto<br /> | Row 3 title=latest release version<br /> | Row 3 info = 0.3.12<br /> | Row 4 title=latest release date<br /> | Row 4 info= &quot;2010/09/07&quot;<br /> | Row 5 title=programming language<br /> | Row 5 info = [[Wikipedia:C++]]<br /> | Row 6 title=operating system<br /> | Row 6 info = Windows, Linux, Mac OS X<br /> | Row 7 title=status<br /> | Row 7 info = Beta<br /> | Row 8 title=genre<br /> | Row 8 info= [[Wikipedia:Electronic money|Electronic money]]<br /> | Row 9 title=license<br /> | Row 9 info = [[Wikipedia:MIT License|MIT License]]<br /> | Row 10 title=website<br /> | Row 10 info = [http://www.bitcoin.org/ &quot;www.bitcoin.org&quot;]<br /> }}<br /> {{Infobox<br /> |Box title=Currency<br /> | Row 1 title = currency name<br /> | Row 1 info = Bitcoin<br /> | Row 2 title = using countries<br /> |Row 2 info = ''Internet-based (global)''<br /> | Row 3 title=symbol<br /> | Row 3 info = BTC<br /> | Row 4 title=issuing authority<br /> | Row 4 info= Bitcoin network<br /> | Row 5 title =issuing authority website<br /> | Row 5 info www.bitcoin.org<br /> }}<br /> '''Bitcoin''' is an open source [[Wikipedia:peer-to-peer|peer-to-peer]] [[Wikipedia:electronic cash|electronic cash]] system developed by Satoshi Nakamoto. The system is decentralized with no central server or trusted parties.&lt;ref name=&quot;hartford&quot;&gt;<br /> {{cite news<br /> |title=Is It Time For Digital-Only Dollars?<br /> |first=Phil<br /> |last=Maymin<br /> |date=2010-07-08<br /> |newspaper=Hartford Advocate<br /> |url=http://www.hartfordadvocate.com/commentary/is-it-time-for-digital-only-dollars-2<br /> |accessdate=2010-07-23<br /> }}&lt;/ref&gt; Bitcoin relies on [[Wikipedia:cryptographic|cryptographic]] principles to create unique, unreproducible, and divisible tokens of value. Users hold the [[Wikipedia:Key (cryptography)|cryptographic keys]] to their own money and transact directly with each other, with the help of the network to check for [[Wikipedia:double-spending|double-spending]].&lt;ref name=&quot;infoworld_2010&quot;&gt;<br /> {{cite news<br /> |date=2010-05-24<br /> |title=Open source innovation on the cutting edge<br /> |first=Neil<br /> |last=McAllister <br /> |newspaper=InfoWorld<br /> |url=http://www.infoworld.com/d/open-source/open-source-innovation-the-cutting-edge-582?page=0,2 <br /> |accessdate=2010-07-23<br /> }}&lt;/ref&gt;<br /> <br /> ==Technical basis==<br /> [[File:Hash tree.png|thumb|300px|right|Bitcoin uses an ever-growing [[Wikipedia:hash tree]] to store, linearize, and verify transactions.<br /> <br /> Bitcoin is an implementation of Wei Dai's b-money proposal on [[Wikipedia:Cypherpunks|Cypherpunks]] in 1998 and Nick Szabo's Bitgold proposal.&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=342.msg4508#msg4508 Bitcoin author on external references]&lt;/ref&gt; The principles of the system are described in the Bitcoin White Paper.&lt;ref name=Whitepaper&gt;[http://www.bitcoin.org/sites/default/files/bitcoin.pdf Bitcoin White Paper]&lt;/ref&gt;<br /> <br /> A user on the network has one or several cryptographic identifiers ([[Wikipedia:ECDSA|ECDSA]] keypairs), which represent their [[Wikipedia:wallet|wallet]]. The public key counterpart of this wallet is called an ''address''. The private key, stored only on the user's computer, is used to authorize payments from the user. The wallet or address contain no information about their owner, so they are effectively anonymous.&lt;ref&gt;{{cite news |author=Nathan Willis |date=2010-11-10 |title=Bitcoin: Virtual money created by CPU cycles |publisher=[[Wikipedia:LWN.net]] |url=http://lwn.net/SubscriberLink/414452/ef58a58a62148050/ }}&lt;/ref&gt;<br /> <br /> Each coin of the Bitcoin system has its owner's [[Wikipedia:public key|public key]] on it. The owner can transfer it further by adding the recipient's public key on it, signing it with his private key and broadcasting the transaction to the network. This way, each coin contains its cryptographic ownership history from the creator of the coin to its current owner.<br /> <br /> To prevent users from double-spending their coins (signing the same coin for many recipients), transactions are [[Wikipedia:timestamp|timestamped]] by the network with a [[Wikipedia:proof-of-work system|proof-of-work system]]. The network collects and records new transactions into a chain of blocks. Nodes of the network are constantly racing to complete these blocks by finding a value, that summed up with the block and the hash of the previous block, produces an [[Wikipedia:SHA-256|SHA-256]] hash containing a certain amount of leading zero bits. The average work required by this operation can be calculated and used to timestamp the block's transactions, so that they cannot be invalidated by later double-spending.<br /> <br /> The incentive to use CPU time for running the system is that new coins are created and assigned to the node that manages to complete the new block first. This method of coin creation &quot;was designed to be a digital analogue to gold and silver mining&quot;&lt;ref&gt;[http://www.lewrockwell.com/orig6/luongo7.1.1.html LewRockwell.com article: The FED’s Real Monetary Problem]&lt;/ref&gt;. Once a node successfully creates a block, it broadcasts the block to the network. Other nodes receive the block, perform a proof-of-work check, and add it to their chain if it is valid. As more transactions occur, blocks are created and added ad infinitum. The longest proof-of-work block chain is acknowledged to be the oldest and most reliable account of the transaction history.<br /> <br /> This mechanism is claimed&lt;ref name=Whitepaper /&gt; to be virtually tamper-proof. For an attacker to manipulate the record, he must outpace all of the other nodes on the network to produce the longest proof-of-work. This becomes exponentially more difficult as time passes, because such &quot;tampered&quot; chains would continuously be rejected by nodes attempting to build a valid chain.<br /> <br /> Bitcoin is a completely peer-to-peer network, and every node is able to enter or leave the network at will. When a node joins the network, the longest proof-of-work is automatically accepted as the most reliable one.<br /> <br /> ==Economic aspects==<br /> The average rate of Bitcoin production is tapered such that over time the total number of Bitcoins will approach 21,000,000. After this point, no further Bitcoin production is possible. In this [[Wikipedia:deflation|deflationary]] environment and in situations where large numbers of Bitcoins are either lost or destroyed, the electronic divisibility of Bitcoins is argued to be conducive to downward price adjustments with no practical limitations in the actual storage or transport of Bitcoin value.&lt;ref name=Divisiblity&gt;[http://www.bitcoin.org/smf/index.php?topic=44.0 Divisibility of Bitcoins]&lt;/ref&gt; Rather than relying on the incentive of newly created Bitcoins to package transactions, nodes in this period will likely depend more heavily on their ability to competitively collect transaction fees to process Bitcoin transactions into blocks.&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=165.0 Incentive to Collect Transactions]&lt;/ref&gt;<br /> <br /> ==Monetary and financial benefits==<br /> Given the decentralized nature of Bitcoin and the hard coding of monetary rules within the software, various monetary and financial benefits to potential users exist&lt;ref name=FAQ&gt;[http://www.bitcoin.org/faq Bitcoin FAQ]&lt;/ref&gt;:<br /> <br /> * Direct transfer of monetary value via the internet without a trusted middleman or financial processor.<br /> * Third parties cannot prevent or control transactions.<br /> * Transactions are practically free.<br /> * Bitcoin value is unconnected to possible instability caused by fractional reserve banking and poor central bank policy (see [[Austrian business cycle theory]]).<br /> * Corrupted transactions created by hacked or modified clients are rejected by honest clients.<br /> * The limited inflation of the Bitcoin system’s money supply is distributed evenly by CPU power throughout the network and programmatically created at a rate known to all parties in advance. Inflation cannot therefore be centrally manipulated to effect redistribution of Bitcoin value from general users. <br /> * Given the predetermined rate of Bitcoin creation, the system is further protected against wild swings in supply due to externalities sometimes seen with traditional commodity currencies (see [[Wikipedia:History_of_the_rupee#The_fall_of_the_Rupee|Fall of the Rupee]] due to large discoveries of silver reserves in the New World).<br /> * Bitcoins are potentially divisible to eight decimal points.&lt;ref name=Divisiblity /&gt; There are therefore no practical limitations to downward price adjustments in a deflationary environment.<br /> <br /> According to the author, the design also supports a variety of possible transaction types that have yet to be implemented within the currently available client. These include [[Wikipedia:escrow|escrow]] transactions, [[Wikipedia:surety bond|surety bond]] contracts, third party [[Wikipedia:arbitration|arbitration]], and multi-party signatures.&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=195.msg1611#msg1611 Predicate Transactions]&lt;/ref&gt;<br /> <br /> ==Acceptance==<br /> <br /> As of august 2010 there are roughly 30 sites accepting payment via Bitcoin&lt;ref name=AcceptingSites&gt;[http://www.bitcoin.org/trade List of sites accepting Bitcoin]&lt;/ref&gt;, spanning areas such as [[Wikipedia:VOIP|digital telephony]] services&lt;ref&gt;[http://forum.link2voip.com/viewtopic.php?f=1&amp;t=1088 Link2VoIP (www.link2voip.com) accepts Bitcoin as payment.]&lt;/ref&gt;, [[Wikipedia:currency trading]] systems&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=20.msg747#msg747 Bitcoin Trading System.]&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.bitcointo.com/|title=Bitcointo, a Bitcoin to physical goods conversion service}}&lt;/ref&gt;, online games&lt;ref&gt;{{cite web|url=http://www.atitd.com/|title=A Tale in the Desert IV accepts Bitcoin as payment}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.sirarthur.net/bitcasino|title=BitCoin Casino}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.thefarwilds.com/|title=The Far Wilds, online game accepting Bitcoin as payment}}&lt;/ref&gt;, physical goods&lt;ref&gt;{{cite web|url=http://qextracts.ecrater.com/|title=Quiggle extracts, online apothecary accepting bitcoins as payment}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.theoddshot.com.au/|title=The Odd Shot, a print photography business accepting bitcoins as payment}}&lt;/ref&gt;, advertising services&lt;ref&gt;{{cite web|url=http://www.bitads.tk/|title=Bitads, advertising system accepting Bitcoins as payment}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.bitlist.tk/|title=Bitlist, advertising system accepting Bitcoins as payment}}&lt;/ref&gt;, auction systems&lt;ref&gt;{{cite web|title=BiddingPond.com, a Bitcoin-powered auction system|url=http://www.biddingpond.com/}}&lt;/ref&gt;, web hosting&lt;ref&gt;{{cite web|url=http://www.privacyshark.com/|title=Privacy Shark, anonymous Bitcoin-based domain name and DNS hosting services}}&lt;/ref&gt;, computer security auditing&lt;ref&gt;{{cite web|url=http://binarysecurity.webs.com/|title=Binary Security, Bitcoin only web application security auditing services}}&lt;/ref&gt; and other online services. Also [EFF] accepts donation in bitcoins yay<br /> <br /> ==See also==<br /> *[[Wikipedia:Anonymous internet banking|Anonymous internet banking]]<br /> *[[Wikipedia:Crypto-anarchy|Crypto-anarchy]]<br /> *[[Wikipedia:eCache|eCache]]<br /> *[[Wikipedia:HashCash|HashCash]]<br /> *[[Wikipedia:Pecunix|Pecunix]]<br /> *[[Wikipedia:Ripple monetary system|Ripple monetary system]]<br /> *[[Wikipedia:Yodelbank|Yodelbank]]<br /> <br /> ==References==<br /> {{Reflist|1}}<br /> <br /> ==External links==<br /> *[http://www.bitcoin.org/ Official website]<br /> *{{SourceForge|bitcoin}}<br /> *[http://news.slashdot.org/story/10/07/11/1747245/Bitcoin-Releases-Version-03 news.slashdot.org]<br /> *[http://p2pfoundation.ning.com/profiles/blogs/bitcoin-open-source-p2p-ecash p2pfoundation.net]<br /> *''[http://modeledbehavior.com/2010/06/30/bitcoin-and-the-wild-west/ Bitcoin and the Wild West]'', Modeled Behaviour blog.<br /> *[http://dailypaul.com/node/139776 dailypaul.com]<br /> *[http://www.reddit.com/domain/bitcoin.org/ reddit.com]<br /> *[http://habrahabr.ru/blogs/crypto/99100/ Russian blog]<br /> *[http://www.linux.org.ru/news/opensource/5113340 linux.org.ru]<br /> <br /> [[Category:Currency]]<br /> [[Category:Electronic currencies]] --&gt;</div>

Alex3000 https://wiki.freecapitalists.org/index.php?title=File:Hash_tree.png&diff=7147 2010-11-14T12:52:00Z

<p>Alex3000: Hash tree</p> <hr /> <div>Hash tree</div>

Alex3000 https://wiki.freecapitalists.org/index.php?title=Bitcoin&diff=7103 2010-11-14T12:40:12Z

<p>Alex3000: </p> <hr /> <div>{{Stub}}<br /> {{Infobox<br /> | Box title = Software<br /> | Row 1 title= name<br /> | Row 1 info= Bitcoin<br /> | Row 2 title=title<br /> | Row 2 info= Bitcoin<br /> | Row 3 title=developer<br /> | Row 3 info= Satoshi Nakamoto<br /> | Row 4 title=latest release version<br /> | Row 4 info = 0.3.12<br /> | Row 5 title=latest release date<br /> | Row 5 info= &quot;2010/09/07&quot;<br /> | Row 6 title=programming language<br /> | Row 6 info = [[Wikipedia:C++]]<br /> | Row 7 title=operating system<br /> | Row 7 info = Windows, Linux, Mac OS X<br /> | Row 8 title=status<br /> | Row 8 info = Beta<br /> | Row 9 title=genre<br /> | Row 9 info= [[Wikipedia:Electronic money|Electronic money]]<br /> | Row 10 title=license<br /> | Row 10 info = [[Wikipedia:MIT License|MIT License]]<br /> | Row 11 title=website<br /> | Row 11 info = [http://www.bitcoin.org/ &quot;www.bitcoin.org&quot;]<br /> }}<br /> {{Infobox<br /> |Box title=Currency<br /> | Row 1 title = currency name<br /> | Row 1 info = Bitcoin<br /> | Row 2 title = using countries<br /> |Row 2 info = ''Internet-based (global)''<br /> | Row 3 title=symbol<br /> | Row 3 info = BTC<br /> | Row 4 title=issuing authority<br /> | Row 4 info= Bitcoin network<br /> | Row 5 title =issuing authority website<br /> | Row 5 info www.bitcoin.org<br /> }}<br /> '''Bitcoin''' is an open source [[Wikipedia:peer-to-peer|peer-to-peer]] [[Wikipedia:electronic cash|electronic cash]] system developed by Satoshi Nakamoto. The system is decentralized with no central server or trusted parties.&lt;ref name=&quot;hartford&quot;&gt;<br /> {{cite news<br /> |title=Is It Time For Digital-Only Dollars?<br /> |first=Phil<br /> |last=Maymin<br /> |date=2010-07-08<br /> |newspaper=Hartford Advocate<br /> |url=http://www.hartfordadvocate.com/commentary/is-it-time-for-digital-only-dollars-2<br /> |accessdate=2010-07-23<br /> }}&lt;/ref&gt; Bitcoin relies on [[Wikipedia:cryptographic|cryptographic]] principles to create unique, unreproducible, and divisible tokens of value. Users hold the [[Wikipedia:Key (cryptography)|cryptographic keys]] to their own money and transact directly with each other, with the help of the network to check for [[Wikipedia:double-spending|double-spending]].&lt;ref name=&quot;infoworld_2010&quot;&gt;<br /> {{cite news<br /> |date=2010-05-24<br /> |title=Open source innovation on the cutting edge<br /> |first=Neil<br /> |last=McAllister <br /> |newspaper=InfoWorld<br /> |url=http://www.infoworld.com/d/open-source/open-source-innovation-the-cutting-edge-582?page=0,2 <br /> |accessdate=2010-07-23<br /> }}&lt;/ref&gt;<br /> <br /> ==Technical basis==<br /> [[File:Hash tree.png|thumb|300px|right|Bitcoin uses an ever-growing [[Wikipedia:hash tree]] to store, linearize, and verify transactions.{{Citation needed|date=August 2010}}]]<br /> <br /> Bitcoin is an implementation of Wei Dai's b-money proposal on [[Wikipedia:Cypherpunks|Cypherpunks]] in 1998 and Nick Szabo's Bitgold proposal.&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=342.msg4508#msg4508 Bitcoin author on external references]&lt;/ref&gt; The principles of the system are described in the Bitcoin White Paper.&lt;ref name=Whitepaper&gt;[http://www.bitcoin.org/sites/default/files/bitcoin.pdf Bitcoin White Paper]&lt;/ref&gt;<br /> <br /> A user on the network has one or several cryptographic identifiers ([[Wikipedia:ECDSA|ECDSA]] keypairs), which represent their [[Wikipedia:wallet|wallet]]. The public key counterpart of this wallet is called an ''address''. The private key, stored only on the user's computer, is used to authorize payments from the user. The wallet or address contain no information about their owner, so they are effectively anonymous.&lt;ref&gt;{{cite news |author=Nathan Willis |date=2010-11-10 |title=Bitcoin: Virtual money created by CPU cycles |publisher=[[Wikipedia:LWN.net]] |url=http://lwn.net/SubscriberLink/414452/ef58a58a62148050/ }}&lt;/ref&gt;<br /> <br /> Each coin of the Bitcoin system has its owner's [[Wikipedia:public key|public key]] on it. The owner can transfer it further by adding the recipient's public key on it, signing it with his private key and broadcasting the transaction to the network. This way, each coin contains its cryptographic ownership history from the creator of the coin to its current owner.<br /> <br /> To prevent users from double-spending their coins (signing the same coin for many recipients), transactions are [[Wikipedia:timestamp|timestamped]] by the network with a [[Wikipedia:proof-of-work system|proof-of-work system]]. The network collects and records new transactions into a chain of blocks. Nodes of the network are constantly racing to complete these blocks by finding a value, that summed up with the block and the hash of the previous block, produces an [[Wikipedia:SHA-256|SHA-256]] hash containing a certain amount of leading zero bits. The average work required by this operation can be calculated and used to timestamp the block's transactions, so that they cannot be invalidated by later double-spending.<br /> <br /> The incentive to use CPU time for running the system is that new coins are created and assigned to the node that manages to complete the new block first. This method of coin creation &quot;was designed to be a digital analogue to gold and silver mining&quot;&lt;ref&gt;[http://www.lewrockwell.com/orig6/luongo7.1.1.html LewRockwell.com article: The FED’s Real Monetary Problem]&lt;/ref&gt;. Once a node successfully creates a block, it broadcasts the block to the network. Other nodes receive the block, perform a proof-of-work check, and add it to their chain if it is valid. As more transactions occur, blocks are created and added ad infinitum. The longest proof-of-work block chain is acknowledged to be the oldest and most reliable account of the transaction history.<br /> <br /> This mechanism is claimed&lt;ref name=Whitepaper /&gt; to be virtually tamper-proof. For an attacker to manipulate the record, he must outpace all of the other nodes on the network to produce the longest proof-of-work. This becomes exponentially more difficult as time passes, because such &quot;tampered&quot; chains would continuously be rejected by nodes attempting to build a valid chain.<br /> <br /> Bitcoin is a completely peer-to-peer network, and every node is able to enter or leave the network at will. When a node joins the network, the longest proof-of-work is automatically accepted as the most reliable one.<br /> <br /> ==Economic aspects==<br /> The average rate of Bitcoin production is tapered such that over time the total number of Bitcoins will approach 21,000,000. After this point, no further Bitcoin production is possible. In this [[Wikipedia:deflation|deflationary]] environment and in situations where large numbers of Bitcoins are either lost or destroyed, the electronic divisibility of Bitcoins is argued to be conducive to downward price adjustments with no practical limitations in the actual storage or transport of Bitcoin value.&lt;ref name=Divisiblity&gt;[http://www.bitcoin.org/smf/index.php?topic=44.0 Divisibility of Bitcoins]&lt;/ref&gt; Rather than relying on the incentive of newly created Bitcoins to package transactions, nodes in this period will likely depend more heavily on their ability to competitively collect transaction fees to process Bitcoin transactions into blocks.&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=165.0 Incentive to Collect Transactions]&lt;/ref&gt;<br /> <br /> ==Monetary and financial benefits==<br /> Given the decentralized nature of Bitcoin and the hard coding of monetary rules within the software, various monetary and financial benefits to potential users exist&lt;ref name=FAQ&gt;[http://www.bitcoin.org/faq Bitcoin FAQ]&lt;/ref&gt;:<br /> <br /> * Direct transfer of monetary value via the internet without a trusted middleman or financial processor.<br /> * Third parties cannot prevent or control transactions.<br /> * Transactions are practically free.<br /> * Bitcoin value is unconnected to possible instability caused by fractional reserve banking and poor central bank policy (see [[Austrian business cycle theory]]).<br /> * Corrupted transactions created by hacked or modified clients are rejected by honest clients.<br /> * The limited inflation of the Bitcoin system’s money supply is distributed evenly by CPU power throughout the network and programmatically created at a rate known to all parties in advance. Inflation cannot therefore be centrally manipulated to effect redistribution of Bitcoin value from general users. <br /> * Given the predetermined rate of Bitcoin creation, the system is further protected against wild swings in supply due to externalities sometimes seen with traditional commodity currencies (see [[Wikipedia:History_of_the_rupee#The_fall_of_the_Rupee|Fall of the Rupee]] due to large discoveries of silver reserves in the New World).<br /> * Bitcoins are potentially divisible to eight decimal points.&lt;ref name=Divisiblity /&gt; There are therefore no practical limitations to downward price adjustments in a deflationary environment.<br /> <br /> According to the author, the design also supports a variety of possible transaction types that have yet to be implemented within the currently available client. These include [[Wikipedia:escrow|escrow]] transactions, [[Wikipedia:surety bond|surety bond]] contracts, third party [[Wikipedia:arbitration|arbitration]], and multi-party signatures.&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=195.msg1611#msg1611 Predicate Transactions]&lt;/ref&gt;<br /> <br /> ==Acceptance==<br /> <br /> As of august 2010 there are roughly 30 sites accepting payment via Bitcoin&lt;ref name=AcceptingSites&gt;[http://www.bitcoin.org/trade List of sites accepting Bitcoin]&lt;/ref&gt;, spanning areas such as [[Wikipedia:VOIP|digital telephony]] services&lt;ref&gt;[http://forum.link2voip.com/viewtopic.php?f=1&amp;t=1088 Link2VoIP (www.link2voip.com) accepts Bitcoin as payment.]&lt;/ref&gt;, [[Wikipedia:currency trading]] systems&lt;ref&gt;[http://www.bitcoin.org/smf/index.php?topic=20.msg747#msg747 Bitcoin Trading System.]&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.bitcointo.com/|title=Bitcointo, a Bitcoin to physical goods conversion service}}&lt;/ref&gt;, online games&lt;ref&gt;{{cite web|url=http://www.atitd.com/|title=A Tale in the Desert IV accepts Bitcoin as payment}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.sirarthur.net/bitcasino|title=BitCoin Casino}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.thefarwilds.com/|title=The Far Wilds, online game accepting Bitcoin as payment}}&lt;/ref&gt;, physical goods&lt;ref&gt;{{cite web|url=http://qextracts.ecrater.com/|title=Quiggle extracts, online apothecary accepting bitcoins as payment}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.theoddshot.com.au/|title=The Odd Shot, a print photography business accepting bitcoins as payment}}&lt;/ref&gt;, advertising services&lt;ref&gt;{{cite web|url=http://www.bitads.tk/|title=Bitads, advertising system accepting Bitcoins as payment}}&lt;/ref&gt;&lt;ref&gt;{{cite web|url=http://www.bitlist.tk/|title=Bitlist, advertising system accepting Bitcoins as payment}}&lt;/ref&gt;, auction systems&lt;ref&gt;{{cite web|title=BiddingPond.com, a Bitcoin-powered auction system|url=http://www.biddingpond.com/}}&lt;/ref&gt;, web hosting&lt;ref&gt;{{cite web|url=http://www.privacyshark.com/|title=Privacy Shark, anonymous Bitcoin-based domain name and DNS hosting services}}&lt;/ref&gt;, computer security auditing&lt;ref&gt;{{cite web|url=http://binarysecurity.webs.com/|title=Binary Security, Bitcoin only web application security auditing services}}&lt;/ref&gt; and other online services. Also [EFF] accepts donation in bitcoins yay<br /> <br /> ==See also==<br /> *[[Wikipedia:Anonymous internet banking|Anonymous internet banking]]<br /> *[[Wikipedia:Crypto-anarchy|Crypto-anarchy]]<br /> *[[Wikipedia:eCache|eCache]]<br /> *[[Wikipedia:HashCash|HashCash]]<br /> *[[Wikipedia:Pecunix|Pecunix]]<br /> *[[Wikipedia:Ripple monetary system|Ripple monetary system]]<br /> *[[Wikipedia:Yodelbank|Yodelbank]]<br /> <br /> ==References==<br /> {{Reflist|1}}<br /> <br /> ==External links==<br /> *[http://www.bitcoin.org/ Official website]<br /> *{{SourceForge|bitcoin}}<br /> *[http://news.slashdot.org/story/10/07/11/1747245/Bitcoin-Releases-Version-03 news.slashdot.org]<br /> *[http://p2pfoundation.ning.com/profiles/blogs/bitcoin-open-source-p2p-ecash p2pfoundation.net]<br /> *''[http://modeledbehavior.com/2010/06/30/bitcoin-and-the-wild-west/ Bitcoin and the Wild West]'', Modeled Behaviour blog.<br /> *[http://dailypaul.com/node/139776 dailypaul.com]<br /> *[http://www.reddit.com/domain/bitcoin.org/ reddit.com]<br /> *[http://habrahabr.ru/blogs/crypto/99100/ Russian blog]<br /> *[http://www.linux.org.ru/news/opensource/5113340 linux.org.ru]<br /> <br /> [[Category:Currency]]<br /> [[Category:Electronic currencies]] --&gt;</div>

Alex3000