Please remove BitLotto from the list. The site didn't pay out the March winner and it is still taking wagers for the April 5 lotto. The last contact was from the (delayed) announcement of the March winner: - http://bitcointalk.org/index.php?topic=34007.msg1596717#msg1596717but no payout occurred and there has been no response to inquiries.
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I have used Transferwise 3 times to move funds to MTGOX: GBP to EUR SEPA. Both Transferwise & MTGOX are totally aware and happy with each other.
I wonder if it matters if your Mt. Gox account is verified or not. So just to clarify you are moving EUR via SEPA to Mt. Gox (bank in Poland). And your account is verified status (AML Level 1)? - https://support.mtgox.com/entries/20919111-AML-Account-Statuses
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what about the time it takes to confirm bitcoin transactions for something like a vending machine?
Just make sure it is uneconomic to attack. The Finney attack is nearly 100% successful but it costs $4 per second to pull off. So for anything sold worth more than $20, make sure to delay it a few seconds. A race attack isn't guaranteed to succeed (maybe one out of 40 attempts would succeed), but it is cheap to attempt. But if I end up with 39 frozen burritos just to get the 40th one to spit out "for free", I'm not going to try. Now let's say there is a change machine that converts bitcoins to quarters at a laundromat, with no fee. An attacker could sit there all day and profit from the successful attempts and break even on all the unsuccessful attempts. So that's not a good candidate for 0/unconfirmed transactions.
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Do you think BitCoins are being spent or are the vast majority of them being hoarded?
Neither. Most are purchased and saved. They are being saved to pay for future consumption. Or as a simply speculative buy. That is not hoarding. That also isn't necessarily a problem. If bitcoins were not divisible, and there were only 11 million that could exist, then you'ld have a problem. But instead of paying 1.0 BTC for a quick meal I now pay 0.1 BTC for it, the higher valuation doesn't limit me from being able to use them for my spending. Because I can acquire more coins easily (with a bank transfer, sent to an exchange, for the cost of $0.25 per transaction using Dwolla, then 0.6% at my exchange) I'm not worried about using my coins for my spending. But volatility is not good for a currency, so where a problem is introduced is when the exchange rate stops rising and those speculating on bitcoins start to dump. Each sell puts downward pressure on the exchange rate which incents others to sell. So that's why bitcoins need to circulate as part of commerce using the coins as a currency rather than just seeing Bitcoin used as a trading vehicle for speculators.
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where did the original 6 confirmations needed come from anyway?! is it just an arbitrary number? From the wiki: Merchants and exchanges who accept bitcoins as payment can set their own threshold as to how many confirmations are required until funds can be considered valid. When potential loss due to double spending as nominal, as with very inexpensive or non-fungible items, payments can be considered confirmed as soon as it is seen on the network.
- http://en.bitcoin.it/wiki/ConfirmationA digital currency exchange that sends out non-reversible funds when there is no recourse (i.e., withdrawn by an anonymous user) should not be considering anything less than 6 confirmations, in my opinion. Of course, those funds in their wallet are not theirs (as they are customer's funds), so they can be careless without exposing themselves to the risk.
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Suprisingly good and well researched article. +1 I learned something new from it too ... The name Casascius came from the acronym for “call a spade a spade,” with a vaguely Latinized suffix. Back when first trying to remember how to spell it I broke it apart thinking maybe it was Casa Sci US (house of science, U.S.). I was way off.
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locally advertised!
locally? Which of the 163,707 square miles California encompasses do you consider local?
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please I really need to get more coin.
UK banks don't like Bitcoin. So leave the GBP behind -- using Transferwise, or Currencyfair to get EUR. Here's another thread on it: Your best bet is to use www.transferwise.com to convert and move GBP to MTGOX SEPA EUR account, and trade in EUR. I've seen where Mt. Gox only accepts bank transfers if it comes from your own account (and not a commercial account like Transferwise). Are you able to perform this SEPA transfer method from Transferwise to Mt. Gox and they take it? With SEPA transfer to BITSTAMP I've not read about anyone claiming the same restriction. Which exchanges allow me to transfer funds from my TransferWise account? - http://bitcoin.stackexchange.com/questions/8149
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It is showing on blockhain.info - so why oh why is it not on Bitcoin-QT?
Should I start using a different Bitcoin client? Any recommendations?
When a transaction gets broadcast, that transaction gets relayed to most every peer node. If your client was not running at the time, it might not know of the transaction because it wasn't online when the broadcast happened. Eventually the transaction will likely get included in a block and then your node will see it. Or the original client that sent it can re-broadcast it. If the sender was using the bitcoin-Qt/bitcoind client then that will notice the transaction is not yet in a block and eventually will re-broadcast it (generally within about a half hour). So if it is showing on blockchain.info then just hang tight. Leave your client running so it won't miss a re-broadcast if you want the warm-fuzzy from seeing the 0/unconfirmed transaction in your list of transactions.
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Back to the point though, why are exchanger UK accounts being shut down? Why is it so hard/expensive to get bitcoin in UK when it has a relatively higher adoption rate than some other countries?
I think it is safe to assume no banks in the UK will work with any Bitcoin exchanges. Any agreements to do so have a half-life measured in weeks.
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Your best bet is to use www.transferwise.com to convert and move GBP to MTGOX SEPA EUR account, and trade in EUR. I've seen where Mt. Gox only accepts bank transfers if it comes from your own account (and not a commercial account like Transferwise). Are you able to perform this SEPA transfer method from Transferwise to Mt. Gox and they take it? With SEPA transfer to BITSTAMP I've not read about anyone claiming the same restriction. Which exchanges allow me to transfer funds from my TransferWise account? - http://bitcoin.stackexchange.com/questions/8149Also, other methods include: Bitbargain.co.uk has a few methods: - https://bitbargain.co.ukBitcoin Fridge re-opens on April 6th: - http://www.BitcoinFridge.co.uk
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I'm hoping to write a small script to generate bitcoin addresses according to a deterministic algorithm and a password provided by the user. This will serve as my "offline storage".
I know that I can generate a private key by using sha256 on anything. My question is, how do I convert this key into an address?
I'm hoping it's a fairly simple formula. If you could describe it in pseudocode, javascript, or bash, I would appreciate it.
Javascript private key generator: - http://brainwallet.org/#generator
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I just got bitcoin-qt client today, and all that show up are public keys that people can send money to me. The Bitcoin-Qt client takes care of everything so that a user doesn't need to know what a private key even is. The keys are stored in the wallet.dat. If you do want to see them, you can export them: - http://computriks.com/en/bitcoin-export-private-keyOr if you just want to see what one looks like: - http://www.BitAddress.org
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I have used flexcoin.com since 2011 and never had any issues with them; you also gain some "profit" a small % per year just like a savings account ( they share out the transaction fees proceeds)
Any guess what this was about then? Flexcoin announced a security breach today,
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Flexcoin announced a security breach today,
Source?
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