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1101  Other / Beginners & Help / Re: Newbie restrictions on: December 03, 2012, 09:06:33 AM
Rob E eloquently demonstrates the shortcomings of the system.
So did probably most people in the previous 160+ pages of this thread.

Rob E eloquently demonstrates how you get banned for posting insubstantial posts.

This thread is a very bad place to do this, by the way. I read every post to this thread.

Awesome.
1102  Bitcoin / Development & Technical Discussion / Re: Can governments spam or ddos the bitcoin network to death? on: December 03, 2012, 08:27:27 AM
They need a so high quantity of BTC that it would result in a 51% attack before they reach in the necessary infinite money

What are you talking about?  A 51% attack has to do with mining power, not with the amount of BTCs you have.
Niko reasoned in another thread that a 51% attack would probably cost 10-50 million to accomplish at the moment (I look up the link later), so in my mind, at the moment, it is not cheap but quite feasible for a goverment or a large corporation to perform such a task.

Gross overestimate. Would you buy shares in BFL at a company valuation of $10-50 million dollars? If not, then why would the government have to pay so much?

And no. The "txn fee attack" won't happen as long as there is a block size limit. That is what central planning rules are for. As in a PoS attack, you would attack by showering your enemies with money. It is not a sensible strategy.

What does the value of BFL have to do with how much it would cost a government to attempt a 51% attack? It would easily cost much more for them to do it first, they'd start soliciting bids from established vendors like Texas Instruments for ASIC hardware. They'd also solicit bids from the likes of Cray and begin going through surplus property to see what supercomputing resources they have that aren't already alllocated.

After going through the investigation process they will decide to assemble mining machines running some sweet yet horribly inefficient NVIDIA Tesla's. Those would run anywhere from a reasonable $2,200 for the C2075 on the market to $4,000 for the K20. Multiply that by the number of cards it would take to reach 51.5% of the network when the bid was originally proposed several months earlier, and then they take delivery of the system several years later when someone has finally shipped ASICs. Before long addendums to the original bid have the government ordering still more Teslas and trying to compete with ASICs (assuming ASICs shipp sometime before 2015).

Government could easily burn several hundred million trying to pull off a 51% attack without succeeding, as long as the task is assigned to the Pentagon.
1103  Other / Beginners & Help / Re: BTC: Game Time Codes (EVE and other MMOs) on: December 03, 2012, 12:56:09 AM
I am selling 60 day Eve Online Game Time Codes for 5BTC each.

IamRichard already sells 60 days time codes for 1.4BTC, so you are way overpriced.

Cant be 1.4btc thats nothing what country is he from?

1.4BTC? thats like a 30 day code,

US retail for a 60 Time code is $35 depending on vendor
UK 1-month-plan    £ 9.99    £ 9.99
Europe Retail for the same time code is  €35 depending on vendor
For Poland  119.90 PLN
For Russia its 1200 руб.


So would we all be best buying codes from a person in the UK maybe.



Maybe, but it is pretty obvious that 5BTC is too much for them. It would be much cheaper to cash out the BTC and pay for them in old money than go for 5BTC = $35.00, it's been a few months since BTC has been that low.
1104  Other / Beginners & Help / Re: 5 years from now will you still mine? on: December 02, 2012, 08:09:04 AM
There's a pretty good chance I'll be mining then. Probably have an Atom or low powered AMD fusion microserver with some ASICs plugged in that will also be running an Electrum server, or something similar.
1105  Other / Beginners & Help / Re: the fate of bitcoins (all will be lost - literally and eventually) on: December 02, 2012, 06:55:40 AM
I agree with the backup suggestions but am curious how you could do a paper backup?  I know this is something my wife would feel more comfortable with?  Are you saying that you simply print the addresses found in the wallet?

You might want to look into using the Armory bitcoin client. It can handle of lot of tasks like making paper backups and backing up the keys of individual addresses you might have.
1106  Other / Beginners & Help / Re: BITCOIN TRUST CYSTEM on: December 02, 2012, 06:48:06 AM
A Trust system is only worth the teeth it has.

If you don't pay your phone bill it hits your credit.

If you have shitty credit you cant finance; get credit, loans, you can be sued, withheld paycheck ext. 

The only way a system like this will work is if we somehow use the law to enforce contracts.

But I'm probably not the only one here that thinks; **** that



Pretty much this. Reputation counts for a lot, and I'm going to give a lot more credence to merchants and services with a history of being reliable. That's where I'm going to spend my bitcoins. People who develop a reputation for honesty are going to be attractive without some trusted designation by a third party.

I'm not even sure how much value there would be in certifying a bitcoin address as "trustworthy" because I'm not doing business with the address in isolation. I'm going business with a person or organization selling products or services. Other than facilitating payment, I don't care about the address.
1107  Other / Beginners & Help / Re: Mining on a laptop? on: December 02, 2012, 04:20:34 AM
Oh, right, I forgot to add that I don't pay for electricity.  Grin
Only real worry for me is my laptop.

If that's the case you should be able to get something through participating in a mining pool, but it probably isn't worth stressing such a nice high end laptop through bitcoin mining.

When you halved your hashing speed to get a marginal savings in heat stress on your laptop, that is a sign I'd consider refraining from mining on that machine. It is very clear that with that laptop's price tag offsetting even a tiny portion of it's cost through bitcoin mining isn't feasible. You have a hell of a gaming laptop, so enjoy it. If your electricity is covered because you live in a dormitory or something, explore a dedicated mining rig on that premise. There's just the potential for a lot of heartache though if you cook such a nice machine for an amount of BTC that is a bit more than pocket change.
1108  Other / Beginners & Help / Re: Introduce yourself :) on: December 02, 2012, 03:48:19 AM
I've been causally participating in the bitcoin economy for a while now, and I finally signed up for an account here so I could be a participant in some of the wider conversations surrounding bitcoins and maybe find interesting projects to work on.
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