The trade-off between confirmation time and blockchain size is a serious problem in my opinion. I absolutely love the quick confirmation time with DOGE, because 10 minutes is just too long, but that being said, even Bitcoin has problems with a huge Blockchain, and faster confirmations times won't help.
I don't mind the confirm times so much except when its with a timer or something example coinbase like you have 30 mins to make the purchase but you want to be out of the variance range by sending a no txt instead to save some fees. Otherwise you need to send an e-mail about it later kind of a pain, the blockchain growing to much is a real problem though needs UXTO compression badly. It's not a big problem for internet purchases, but no one wants to wait in the McDonalds drive-thru 10 minutes or longer while their transaction confirms. This is going to have to be solved sooner or later unless we are fine with Bitcoin being primarily an internet currency, which is fine with me, but then it won't be a fiat killer. |
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Then again, maybe I'd just use a brain wallet. I'm good at remembering very long, quite random, passwords. Why not just store my wallet in my brain and maybe have a backup in a safety deposit box for my attorney to access in case of death.
Because people overestimate how random their passwords really are. That's true, but mine really are very random. Could it be brute forced? Maybe, but I don't think that risk is remotely close to the risk of me losing a paper wallet or having an online wallet hacked. |
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I would not worry too much about it. As long as you don't keep using your USB key in strange computers, you should be relatively safe. Any attack that gets your off-line keys would likely have to be targeted at your specific set-up anyway.
Is there a problem with using paper? I have both a paper and electronic copy of all of my (Bitcoin) keys.
I plan to use paper backups, but I want an easier way to move transactions. Printing out a paper wallet every time I want to move Bitcoins to my online wallet sounds like a hassle, especially since my computer can't scan a QR code easily. |
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Before any companies can start thinking about paying it bitcoin the mentality would have to be the salary is x BTC per hour not x amount of dollars worth of BTC an hour - other wise there is no benefit.
Until we start seeing less market volatility that's probably not going to happen. Although I could see maybe "you'll be paid x BTC per hour this month, adjusted relative to the USD exchange rate each month thereafter."
I know several companies pay in Bitcoin, and since Bitcoin is considered not a currency I don't think they are getting paid technically at all.
I guess a lot of it depends on what your business makes for income as well. Do you get paid in actual fiat cash or bitcoins? Cause if you are technically making Bitcoins as income, I would think you would just have to pay taxes as property and not income...
That is what I am wondering. Are the minimum wage laws written so that property based wages can be in compliance so long as they exceed the wage, or must x amount of dollars be paid. |
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What would happen if I started a small business and wanted to pay my employees entirely in Bitcoin with regards to the US minimum wage laws? I'm assuming I couldn't pay employees anything less than the minimum wage in Bitcoin, but would paying entirely in Bitcoin even be legal?
If the minimum wage is $7.25 an hour, and I'm paying 15 mBTC per hour, in the eyes of the law am I in compliance? Or would I be in violation since I am paying $0 USD? In other words, can the minimum wage be met by a non-USD payment, or would I have to pay $7.25 of the employee's salary in USD?
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Why does Bitcoin Magazine sell its mags for USD as a default? I didn't even see a BTC option when trying to check out! https://bitcoinmagazine.com/magazine/product-category/print/Looks like a cool publication but not if it doesn't solely support the Bitcoin community. These mags shouldn't even be available with fiat! They should absolutely be available in fiat. Don't you want people who aren't already involved to learn about Bitcoin? Fiat is also easier to get at this point in time. |
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Not many, you were probably almost done. It took me under 60 seconds.
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Until this is verified I'm going to ignore it. This is quite a claim to post with no evidence whatsoever.
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I'd probably store them in a split wallet in paper form with parts stored in different locations. I'd also have a usb backup in a bank.
Then again, maybe I'd just use a brain wallet. I'm good at remembering very long, quite random, passwords. Why not just store my wallet in my brain and maybe have a backup in a safety deposit box for my attorney to access in case of death.
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Can you suggest a good option for moving transactions between online and offline wallets without using paper?
- You could go on ebay and buy a lot of old flash drives (128 mb) that are still packaged. Throw each one away after being compromised.
- You might try using these: http://www.amazon.com/64MB-Pen-Drive-Flash-Memory/dp/B0014CA7VU
Customer reviews say that they will only hold data for about a week, then they need to be reformatted. Any malware would lose random bits and quit working. They are old enough that the firmware is certainly okay and not subject to the firmware exploit. - Buy a microcontroller, dig up some ancient wire-wrap tools and build your own USB device. Add a button that clears everything.
- Link a serial cable (RS-232, DF9 connector) between the two computers. Configure your isolated computer for send only. This is such a low tech solution, that I wouldn't worry about malware. For extra paranoia, you could even cut the receive line and configure for asynchronous communication making it physically impossible to send data back to your safe/isolated computer
- Go to the local ewaste recycling center and find an old floppy disk drive. Most motherboards still have the connector for this legacy item. Set your file explorer to see hidden & system files. This method still allows stuff to get through, but it would be totally visible and obvious. You could also use ZIP drives.
- Burn to a write-once CD drive. Transport data, throw it away (or destroy).
- Convert the private key to audio cassette tape by reading it out loud. Now you can use one of those cassette drive to USB converters to put the audio file on a USB device. The USB never needs to touch your isolated computer.
- I am sure the community can add some more ideas
Lol at the second option. Those must be some sucky USB keys! I like your idea about a send only cable, is this possible with a USB cord and a Rasperry Pi? I would just program the Raspberry Pi to clear all contents after each use. Setting up the USB to act as a serial receive only device would require reprogramming the USB interface hardware which would be way to much work. The problem with that is that I am using the Rasperry Pi as my wallet. Clearing it each time would pretty much defeat the purpose. Unless you mean clearing the SD card, but that wouldn't work if malware is hiding in the firmware. |
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learn something new about mining and fixing non confirming transactions today
thanks!
Yeah, if there is any change this is probably the easiest way to fix a stuck transaction. I'm glad to have found that out. |
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I took the survey, please release the results when you are done.
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One thing that worked for me is spending the change from my no-fee transaction with a fee high enough to cover both. It still took longer than usual but they were both confirmed within an hour or two.
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My internet speed is solid at around 10-15 mb/sec. How long would it take for me to download the entire blockchain for the original bitcoin wallet?
Is that mega bytes or mega bits. A lot of internet providers quote speed in megabits which are 1/8 of a megabyte. |
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Can you suggest a good option for moving transactions between online and offline wallets without using paper?
- You could go on ebay and buy a lot of old flash drives (128 mb) that are still packaged. Throw each one away after being compromised.
- You might try using these: http://www.amazon.com/64MB-Pen-Drive-Flash-Memory/dp/B0014CA7VU
Customer reviews say that they will only hold data for about a week, then they need to be reformatted. Any malware would lose random bits and quit working. They are old enough that the firmware is certainly okay and not subject to the firmware exploit. - Buy a microcontroller, dig up some ancient wire-wrap tools and build your own USB device. Add a button that clears everything.
- Link a serial cable (RS-232, DF9 connector) between the two computers. Configure your isolated computer for send only. This is such a low tech solution, that I wouldn't worry about malware. For extra paranoia, you could even cut the receive line and configure for asynchronous communication making it physically impossible to send data back to your safe/isolated computer
- Go to the local ewaste recycling center and find an old floppy disk drive. Most motherboards still have the connector for this legacy item. Set your file explorer to see hidden & system files. This method still allows stuff to get through, but it would be totally visible and obvious. You could also use ZIP drives.
- Burn to a write-once CD drive. Transport data, throw it away (or destroy).
- Convert the private key to audio cassette tape by reading it out loud. Now you can use one of those cassette drive to USB converters to put the audio file on a USB device. The USB never needs to touch your isolated computer.
- I am sure the community can add some more ideas
Lol at the second option. Those must be some sucky USB keys! I like your idea about a send only cable, is this possible with a USB cord and a Rasperry Pi?
I was wrong about the iPad, but I really hope I am right about Google Glass not catching on...
USB flash drive and SD cards are both storage devices and I think they are prone to malicious malware and viruses so we better be careful of what files we are storing on them.
if you are now worried about USB devices this week.. then you need to realise that its been around for 6 years. so why suddenly think that you now this week are at any more risk compared to yesterday, last week, last year, 5 years ago??? the truth is that unless your on a government watch list for a particular reason. then your more likely worrying over nothing I've always used online wallets, but I am planning to move to an offline, Rasperry Pi based, wallet. |
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Most people probably have no clue about Tradehill, but I'm sure the older members would. Short history: They were the second largest exchange in 2011, and abruptly shut down after a $30,000+ payment reversal from Dwolla. Everyone's btc and fiat was frozen in there, the owner (Jared?) did attempt to pay some people back, but as far as I know there are still some people that were screwed by them.
Unfortunately, I'm still one of those people that have yet to get my money back. Does anyone have more info on the whereabouts of the owner, or how we can contact him? Last I heard, he took the website offline for "security" reasons and said he'd put it back online to resolve any open issues with customers. Well that never happened. Any info on this situation or contact would be greatly appreciated.
The same thing happened to me with Bitfloor. No one talks about it anymore, but Roman Stylman ran off with my coins, and I'm sure others lost some too. |
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yes its definitly low traffic at the beginning, I hope for the band it changes.
i thought about bitpay and I probably use it, i dont even think that many people at all download a song for bitcoins its more a gag, you never know how important bitcoin might get.
I also came across the Site Changetip.com that allows to tip youtube videos in Bitcoins.
Maybe you know is it possible to install a tipping app on a website- in my case a bandwebsite??
I defintly will figure out more about changetip.com i think it s a great idea for artists just didnt have the time yet.
If you just want to be tipped, you could post an address on your website and leave it at that. Otherwise, Bitpay is probably the way to go. |
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As much as I am in favor of Bitcoin I don't think it is well tested enough. I would wait 5 years or so at the least, and take everything the community learned over that time into consideration before making a national cryptocurrrency.
That may make it sound as though I have a negative view of Bitcoin, but I don't. Bitcoin is the only digital currency even remotely close to meeting my standards for a national currency. In my opinion, a centralized 100% digital currency simply isn't acceptable.
Cryptocurrencies like Bitcoin have finally begun to make digital currencies a viable option.
I agree. Bitcoin is way too new to be used universally throughout any country by any means. There is also not sufficient technology in place is the majority of countries as smart phone access does not reach all corners of any country. Right. Even in rich countries like the US and EU not everyone has a smart phone or PC, not to mention internet. I suppose the government could distribute hardware wallets. Although chances are they'd screw that up worse than Butterfly labs. $600M for a website that doesn't even work proves their technological and fiscal incompetence. |
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Continuing the above discussion, it's really all about doing what you agree to do. If you agree to pay back borrowed money with interest, then you need to do exactly that. The law is written to require that your end of the bargain be upheld, and that is how it should be. In the end, you have to take responsibility for signing on the dotted line.
^Do not quote me on this in reference to terms and conditions. Legally, I did "agree" to Apple's terms and conditions but I do not consent to any 40+ page legalese document to use a freaking phone.
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