I'm afraid if I short it will go back up.  In this market you make money by doing the opposite of what everyone else is doing. Disclaimer: This is not advice, just an observation of mine. And what is everyone else doing?  Disclaimer: I will not take this as advice  Open up your eyes and have a look around! |
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Gox is too incompetent to not fail. Bitcoin will be better off without "the exchange that couldn't".
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I'm afraid if I short it will go back up. In this market you make money by doing the opposite of what everyone else is doing. Disclaimer: This is not advice, just an observation of mine. |
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I agree that a "proceed with caution" for mining bitcoins using a CPU vs using a GPU or any other processor should be a notice to those who wish to mine whether they mine for profit or to "help the community by running the Full-Bitcoin client" (Bitcoin.org/en/Choose-your-wallet).
Moreover, I agree that mining should be explained. However, I whole-heartedly disagree that "there's no need to tease every user with the option [mining] when a tiny fraction of them will be using it" (dsg: quote #5). If only a tiny fraction ... will be using it, then what is the problem if every user is teased? Also, I am appalled at "the thing I'm most worried about is people will start mining ... and will push more efficient & competent miners out of the market" (quote #9). Really, these comments explain why in 2014 people believe Bitcoin is a Madoff scam. For example, I have the Full-Bitcoin client and every inquiry or question I pose about solo Bitcoin mining (especially, "getgenerate" and/or "setgenerate <generate> [genproclimit]) I get responses "you won't make money by solo mining - join a pool." Yet, despite Satoshi warning us against third-party sites, it's apparent those responses are from those who have a capitalist centralized mentality because I get those responses despite posting I want to solo mine regardless my intentions. If I am helping the Community then I should be allowed to participate in solo-mining whether I do it for profit, a Satoshi, or do it because I can leave my system running the Full-Client 24/7.
I thought from reading Satoshi's genesis paper that Bitcoin was a peer2peer currency for those who participate in the network. It's people with these centralized ideas based on greed is why government regulation needs to be involved. Hell, if Bitinstant.com was up and running, then I could had easily invested my U.S. Fiat to purchase bitcoins via CVS or Walmart. Just think about the people who lost there. And let's not forget those who lost bitcoins using exchanges that I've read about that were hacked.
Satoshi, if you read this - please post instructions for solo-mining for those of us who are using the Full-Client. I have a AMD graphics card and I want to solo-mine, not merely for profit, but to help the community because I am running Bitcoin-QT from a computer that I can run 24/7. I am not a computer programming geek but I do hold a Master Degree in Business and have computer skills that if I need to create a Bitcoin.config file I can. I just do not understand how to use the functions in the Bitcoin-QT Debug Window:console. However, what's the use of running Bitcoin-QT 24/7 if these capitalists centralized greedy minds you have left in charge keep telling you what not to do instead of how to do it?
There is a decentralized pool model called P2Pool. It gives the network all the benefits of you solo mining, but shares the reward variance reduction of a traditional pool. Most people say, "don't solo mine" because the chances of you actually finding a block with a single AMD graphics card is so low that you will simply be throwing money away (electricity). I don't think they are being "capitalist centralized greedy minds" so much as they are being realistic. Anyway, get the best of both worlds while sticking to the decentralized ideals behind Bitcoin. Use P2Pool. (Although, you probably still won't earn anything.) Here is a guide for P2Pool: https://bitcointalk.org/index.php?topic=153232.0The actual P2Pool thread: https://bitcointalk.org/index.php?topic=18313.0By the way, I am a greedy capitalist and I don't like centralization, so maybe relax with the generalizations. |
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Give us an in depth review of MtGox as a show of your abilities.
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It's high time to end foreign aid, period.
It's high time to end government spending altogether.
It's high time everyone boycott government spending by withholding funding until the government learns what every household needs to stay alive: how to balance a fucking budget.
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In other news - I heard that after browsing the Alternate cryptocurrencies section for 5 minutes, Richard Stallman has decided to spend the rest of his life as an evangelist for non-free closed source software! LOL! Fucking hilarious. |
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This problem is really serious, if the money in the wallet can not be used, the whole bitcoin is useless as well.
Change will behave exactly the same way newly received coins behave now. They will be spendable after the next block is found. Until the transaction malleability problem is fixed, this is prudent behavior. |
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Keep in mind that this makes the wallet really weird, since now you spend 0.1 BTC, and 53.87 become unspendable temporarily. That would confuse the hell out of people... thus probably should be an experts-only option.
Yes, that would be weird and confuse people, but might be less weird and less confusing than transactions with unconfirmed change inputs becoming invalid (which I assume means they would simply disappear from the wallet altogether) after a mutated transaction is accepted. Like I said earlier on, perhaps showing the balance but giving a pop-up warning informing the user that these coins are still unconfirmed should the user attempt to spend them. It's unfortunate to have to worry about these things, but apparently this bot which mutates transactions is going to be a regular thing on the network now, so... I mean, I hear that the core devs are working on a fix (workaround) and I assume Armory will just piggy-back on that as usual. |
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I don't know where I'd sell, lol.
Gox, so I never get my fiat and have to sell at a huge discount?
Coinbase where if the price tanks they'll cancel my sell and claim its high risk, so its as good as not selling anyway?
btc-e where they completely trolled me yesterday and wouldn't let me trade/withdraw or even chat for 4 hours for no adequately explained reason?
About the only option left is bitstamp, but unfortunately I'm not verified there. If i need to sell I guess I'll just short with 1/10th of my BTC position at btc.sx and eat the interest, the crash will be over in probably no more than 3 more days anyway.
You could try BitSimple (forum user DeathandTaxes' business). BitSimple will get a cut for making your life easy, but they will make your life easy. |
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perhaps HODLERS are beginning to feel the FUD creep in and need this thread to comfort each other and spam "to da mooon"
If most bitcoiners did day trading, bitcoin swings would be insane. Hodlers keep the price somewhat in check. I disagree. I am a holder and sometimes I see the exchange rate increasing too far, too fast (even for Bitcoin). If there was an exchange I could trust, I would be able to decrease volatility by selling some coins when this happens, knowing there will be a violent correction some time in the future. Then when the violent correction occurs, I could repurchase my bitcoins helping reduce the violence of the correction. I would earn additional bitcoins by providing this service (volatility reduction). It seems the "herd" likes to follow others and buy like madmen when the exchange rate is going up, and sell like scared children when the exchange rate is going down. Playing against the herd is how you make money, I don't care how many people say, "The trend is your friend". Unfortunately I don't trust any exchanges, and by holding I add to the volatility of Bitcoin by not being able to act when things get out of control (in either direction). TL;DR: Holders do not add liquidity, which is needed to help reduce volatility. Edit: Oh, regarding the OP: Yes, I'm holding. The current situation is annoying, but it doesn't break Bitcoin. Sorry for those trolls who keep saying it does. |
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Any plans to add an option for users to elect to require confirmation of change before spending.
This would be lovely. |
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Protip:
Don't give untraceable money to an anonymous stranger who could live half a world away.
Look, I just solved 99% of the scamming that goes on here.
Pretty much. If you are going to do business with someone, make sure that you've verified their identity and can find them in meat space if needed. |
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No. It's like playing Russian roulette with your money!
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There's not much you can to to stop thieves or scammers really.
Sure there is! Take the time to learn how to secure your private keys! If I can do it, anyone can do it. |
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Oh, thank god! I can finally get back to being a slave.
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Is anyone stealing our bitcoins?
If you aren't the sole controller of your private keys, you don't have any bitcoins. |
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Me: Hey, let me show you this revolutionary new currency where you no longer need to trust banks to store and send your funds! You: Oh cool, I love it! Which bank should I use to store my coins? Me: Uhh... err... wut?  Reminder: If you aren't the sole controller of your private keys, you don't have any bitcoins. |
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This would make a great Christmas ornament on an otherwise traditional tree. Award prizes (the ornament itself?) to the family member who notices it during the holidays!
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