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The remaining coins stashed away in Alt coins is in no way enough to replace the losses and the damage that was done to the reputation of this industry, just like the legacy MtGox left behind after they were supposedly hacked. The other thing is, people do not seem to learn any lessons from the past history.
The problem is, any central storage area for coins will attract a lot of hacker attention and we need to avoid these situations.
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opportunity to mine a block. I wish more people could have that opportunity again to feel that thrill and excitement.  i welcome you to PumpNDumpcoin4500, you can mine it with your GPU and get 500000 coins every 10 minutes. and then convert them for 500000 satoshi (0.005btc). enjoy Well same goes for WeRuleTheCoin3000, where a few of us have enough money to make all the major decisions and determine the future of the Blockchain. At this moment the mining is getting more and more centralized and more expensive. In a few years only a selected few will be in the position financially to run huge data centers to mine the coin. Do you really think that is the direction we need to go with this experience? I do not have the answer for this problem, but I know centralized mining is not the Satoshi vision for this.  Whether Satoshi desired, expected or even thought about mining pools, GPUs, and ASICs is not really relevant. ASICs are more energy efficient so they win in an energy intensive environment like Bitcoin mining. That is the way it is and it can not be changed without creating an alt coin - which has been attempted/done many times. Bitcoin is secured by the massive amounts of energy/work required overtake the blockchain. That is one of the things that gives Bitcoins their intrinsic value. It is an integral part of what Bitcoin is. BurtW are you saying a Alt coin with ASIC-proof technology could replace Bitcoin, if it has the same functionality as Bitcoin, but just need to be tweaked to be ASIC-proof? Why has nobody implemented something like this before and replaced Bitcoin? I agree with the ASIC's being more energy efficient and adding value with the energy/work being spend to sustain it, but there should be some better solution to place some mining power back into the hands of the general users, without sacrificing the value? I looked at some of the Alt coins, but most of them look like a Pump and dump and not a coin that wants to address this problem. ^hmmmm^ |
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If you say popular area, are you referring to a area with a lot of Bitcoin merchants or a area with a lot of Bitcoin users. Operating a BTM has a lot of challenges and it is very expensive if you do not have a lot of Bitcoin adopters coming in and out of your shop. Also make sure you are listed on some of the online resources once your BTM is in operation. People should know where to find you, once it's done. Example : http://www.coindesk.com/bitcoin-atm-map/ |
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In an ideal world, it would have been excellent if mining could be decentralized to the mobile market and every person with a cellphone, could have a node and contribute to the network and earn income from that. We would have the best decentralization option and we would help with re-distribution of wealth and create income possibilities for the poor.
The incentive or the reward should not be enough for people to see the need to create mining farms. Only problem is, we do not live in a perfect world.
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These conspiracy theories are fueled by misinformed media and news outlets. Bitcoin has been declared dead for the 89th time and it is still alive and well. It did see a price decline, but that was mostly due to the Cryptsy hack that came at the same time as the blog entry that declared Bitcoin dead by Mike Hearn.
We will see a lot more of these articles in the media from now on, because most of the private ledgers in development now, will be implemented within this year.
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A lie detector test can be faked and people know how to cheat it. It is for that reason not admissible in a court of law. Some companies still use it but it's not worth anything if you know how to cheat it. They should just continue with the investigation and see what comes out of that.
I never store lots of bitcoins on these services, for this exact reason.
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I think most of those people in that meeting have a good idea about Bitcoin and the Blockchain and they are gearing up to gather as much input from the experts, before they can approach the legislators. It would have been better if they could have had some developers or Bitcoin representatives there, without any business interests.
The afternoon session was just as informative and I sat through the 5 hour webcast for the whole thing to see what the direction will be for these discussions. I think a lot of education is still needed to bring the legislators on board.
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you also pay much lower fee, for that 1M block only 0.5 btc, which is not even $200(and it was a sum of many transaction, if it was done with a single transaction, i'm sure it could have been much lower)
i doubt you can move $400M dollars with a so low amount of fee
If you have a high enough balance, you can easily move millions anywhere in the world without any fees using traditional banking. I use Schwab, my wire fees are waived for any amount and I have wired millions with no fee. For a traditional bank account, the average wire fee is $20 to $25 for any amount, it is not dependent on the amount of money you are transferring. You can read this for more information: http://www.bankingmyway.com/credit-center/3-ways-cut-wire-transfer-costsExample of Schwab's free wire transfers: http://www.schwab.com/public/file/P-1036363/"Wire transfer fee: With $100,000–$499,999 in Household Balances, you will receive three free online domestic wire transfers per quarter; with $500,000 or more in Household Balances, or 36 or more stock or option trades per year in Accounts of Your Household, you will receive three free domestic wire transfers per quarter." Almost 1 trillion dollars is transferred via wire transfer every day in the United States. Source: http://groups.csail.mit.edu/mac/classes/6.805/articles/money/ota-money-laundering/03ch2.pdfAn average of over 293,000 transactions are carried over Fedwire daily, transferring a daily average of over $841.4 billion. The average amount of funds moved by one Fedwire transfer is nearly $3 million, and the cost of one transfer is about 50 cents (see tables 2-2 and 2-3) It is quite common for these traditional institutions to make fees cheaper for high income groups. <Rich people> and cross subsidizing these discounts from the lower income groups. Go to your bank and ask them what the different interest rates are for different amounts. <The higher the amount, the higher the interest rate> The Dinosaurs make sure they line the pockets of the rich people. ^frown^ |
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If XT succeed, I will wave goodbye to Bitcoin. Thank you for saving us from a benevolent dictator and IP Blocking and Blacklisting of coins and tx reversals. If we wanted that, we would all be using PayPal. Your next task will be to up the Block size a little, even if it is only to counter the Bitcoin Classic attempt at gaining consensus with their proposal.
Keep up the good work and ignore the FUD. ^smile^
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Satoshi will not come out of hiding for a mere Alt coin. I doubt if he will even comment on something like that. He did not discourage any competition and allowed for BIP proposals to be done. That is the design of the system and if there are a consensus in the community for the change, it will have to change.
Bitcoin did not fail, Mike Hearn failed.
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If more merchants can see this and not pull out before this happens, we will see a massive jump in acceptance. I quote,
" ....accepting the digital currency becomes much easier for merchants when it’s at least included as a possible option. Once it becomes widely available to merchants, it then becomes easier for businesses to reap the benefits of the low-cost, irreversible payment system. "
It would be great to see Bitcoin accepted everywhere in Brazil, because it is a good tourist destination and much cheaper than most of the other countries I have visited.
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It fits nicely into the strategy for them to go global this year. I would much rather see them offering a pay-per-view option linked to Bitcoin payment, to highlight the micro payment features of Bitcoin. The older the content the cheaper the price.
Bitcoin could eliminate a lot of restrictions put in place by fiat systems and also enable poor people to access better content on a pay-per-view concept and even cross subsidized by the higher income group, who can afford the monthly subscription price tag.
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Bye Bye Mike ^wave^ Something tells me, this is not the end. The puppet masters at the banks will be a better environment for you. The Bitcoin scene have no need for drama queens and benevolent dictators. Hope the payment and
benefits is better in the old corporate structure.
In a month or two, we will see the true color of the attacks that would be launched from their side, eagerly assisted with the help of Mike Hearn. The little support he has now, will quickly evaporate when this happens.
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In the Crypto currency scene, it is a free for all. You propose something and your competitors have a stab at it and concentrate on your flaws. Mike and Gavin wanted to exploit users by introducing suspect spy code and his competitors just had to highlight and expose it. They dug the hole and now they want to complain about it.
The developers protected their community from these actions and that is how it should be. If something threatens the community, it must be exposed and made public. They even hyped up the need for bigger block sizes with scare tactics and we are still here, with no problems.
I fail to see the need to cry over the loss of a developer that operated like a bully. The Core guys might not be perfect, but the ship is still floating in the ocean. We will ride this out, like all the attacks {stress tests} we faced last year.
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I mean this question sincerely: Who the fuck is Mike Hearn?
Good question. He came in on his white horse from Google and thought that he would become the new King of Bitcoin. He joined ranks with the previous King of Bitcoin <Gavin> and they wanted to take it all. When they did not succeed, they moved onto a small piece of ground and tried to build up their own kingdom called XT, but that failed. He has now moved out of the Kingdom to the hostile neighboring Kingdom <Banks> to fight with the enemy. |
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The wannabe benevolent dictator failed with XT and now he wants to blame hackers for it's demise.  What did he expect would happen if you try to sneak some <spyware> code into a BIP proposal? Did he think nobody will notice? He worked at Google with a traditional business management structure and he could not adapt to the free flow consensus structure. He wanted to be the boss, and it failed and now he wants to be the victim, taking lonely walks in the park at night, pondering the strategy to take revenge and badmouthing Bitcoin in the media. This is where Gavin is different, because he did not turn his back on Bitcoin. Spreading FUD in the media will not restore his reputation. |
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The latest thing it seems, is to blame hackers for poor business management. They got the heads up that there was a hole and they ignored it like a ostrich with it's head in the ground. They have been bad actors in this scene for a while and people still deposited money there, after the news went out, that there were problems.  |
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Well, I tested it with a quick address I created on Bitaddress.org and I Got validation error: Invalid value for win_address Do you first have to send money to a Lottery address and then fill in the fields here? https://www.pevpot.com/playDoes the system check your sender address against the lottery address and then validate that you send money and only then link your Nickname against that? So if you did not send money, it will not validate the Nickname? The way it is described, it sounds like you have to supply a winning Bitcoin address and a Nickname linked to that address and then type it into those fields and then send BTC to your winning address and by some miracle, Ryan sends that money to the lottery address to join the pot. I do understand that Ryan needs a address, where he can send the winning after the draw was done, and that you need to confirm that it was you. What happens if you just fill in a Nickname and a random address before you send BTC to the lottery address? Where do you send the money to buy the tickets? The lottery address or the address you filled in for the winning address? |
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Explain something to me please. If I choose to play from anywhere, I fill in two fields. The one for a Nickname and the other for a Bitcoin address I have previously created. Right? The explanation then says, " All money sent to your forwarding address, will automatically be forwarded to the lotto address (minus only that to cover mining fee costs). " How do you have access to the private key to forward money from the forwarding address to the lotto address? I think I am missing something here? or is there some script not running on my computer that creates a forwarding address, when you click on the " create forwarding address " option? Please explain. |
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I truly like promotional stuff like this. You do not just save money during the transactions, due to lower banking fees, but you save money at the merchants where you spend your money. What bigger incentive are there to use Bitcoin, if you simply save money by using this instead of other payment methods.
We have some very innovative and creative people pushing adoption behind the scenes. Thank you for your commitment to grow adoption through innovative ideas like this. ^smile^
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