What we need is people willing to take their paycheck each month, drop it into bitcoins, and live off of it.
Who is willing to take the bitcoin challenge? It doesn't even need to be early adopters, anyone can do this. Bitcoin is a way to buy things, make it your only way.
Sounds like you're volunteering?  I would, really, if it were possible. We need to try petitioning a mom-and-pop grocery store into accepting bitcoins. They could have a bunch of addresses, and give each customer an address to send to. When money is sent to that address they could sell immediately, and put the dollar value onto your tab. When you come in and shop, they just deduct it from your tab. Hell, I should make that system. It would be an easy way to accept bitcoin as payment without any risk. Any store that can work off of a tab could use it. |
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Do yourself a favor and don't listen to AngelusWebDesign and don't give him the satisfaction of visiting his message board. He's a total hypocrite. He will tell you that mining is not worth it, you should dump all your bitcoins, everyone is selling their mining rigs, but he will quietly low ball you on your equipment. Then he gets mad that you won't sell him a computer that you just bought for 50% off and calls you a 17 year old pimple faced idiot who uses mommy's credit cards to buy video cards.
That sounds very... specific. |
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The Depth Table was confusing to me.
Buy Interest | Price
BTC 1 | $13. 50
BTC 4 | $11.60
BTC 2 | $10.00
I thought those BTC N were just labels or something at first. I didn't realize that was quantity. e.g., 1+ interest at $13.50 It rounds that down, ... why not list the exact quantity available? Additionally, I see that you have a ticket / help desk system. Is that also for these type of issues (e.g., enhancement requests)? I think that is the exact quantity. The few people trading are doing it in round numbers so far. |
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What we need is people willing to take their paycheck each month, drop it into bitcoins, and live off of it.
Who is willing to take the bitcoin challenge? It doesn't even need to be early adopters, anyone can do this. Bitcoin is a way to buy things, make it your only way.
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If I have 10 bitcoins, and the decimal gets shifted over one place (x10), I now have a full 100 bitcoins each worth only 10% of the original. If I have 10 bitcoins and the total number of bitcoins is increased 10 fold (inflation), I still only have 10 bitcoins, but each is worth only 10% of the original. Big, big difference.
You get a fair share one way. You get diluted during inflation.
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1. It's still being used
2. It can be diluted. Bitcoin can't.
1. It's hardly being used, and rather insignificantly at that. 2. Decimating Bitcoin is no different than inflation or "dilution." Let me repeat that because it bears reiteration: Decimating Bitcoin is no different than inflation. No, there is a huge different. If I have 10 bitcoins, and they get decimated x10, I now have a full 100 bitcoins each worth only 10% of the original. If I have 10 bitcoins and the total number of bitcoins is increased 10 fold (inflation), I still only have 10 bitcoins, but each is worth only 10% of the original. Big, big difference. You get a fair share during decimating. You get diluted during inflation. |
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It's Bitcoin for sovereign nations, and it was neither very effective or widely used.
I hope you aren't trying to make a comparison. As that would be silly. |
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I guess I don't understand. I withdrew to Dwolla (the one time I withdrew) and it was fast and cheap. $0.25. What's the problem with that?
Agreed. Dwolla seems to have WU beat hands down. |
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This has been discussed so many times already... There are currently 329,993 addresses in the Bitcoin network. Say that this number of addresses are created every day for the next 140 years. That's 16,862,642,300 addresses. The chance that at least two of those addresses collided is about 9.7x10 -29, using the formula here. Calculation.If every person on Earth makes ten addresses per second for 20 years (2x1018 total addresses), then the probability that two of these addresses collide is about 1.57x10-12.
UUIDs have 2 128 possible identifiers. They are also designed to be collision-proof. Wikipedia says: To put these numbers into perspective, one's annual risk of being hit by a meteorite is estimated to be one chance in 17 billion, that means the probability is about 0.00000000006 (6 × 10−11), equivalent to the odds of creating a few tens of trillions of UUIDs in a year and having one duplicate. In other words, only after generating 1 billion UUIDs every second for the next 100 years, the probability of creating just one duplicate would be about 50%. The probability of one duplicate would be about 50% if every person on earth owns 600 million UUIDs. Compare this to Bitcoin's 2 160 possible addresses. Bitcoin has: 1461501637330902918203684832716283019655932542976 addresses UUIDs have: 340282366920938463463374607431768211456 identifiers And... Bitcoin already supports OP_HASH256 in script, so it would be trivial to increase the number of addresses if it ever became a problem.
And remember, if there were 2x10 18 addresses, each address, on average, would have 0.0000000000105 BTC, less than a satoshi, in it. |
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Or keep monitoring the ones you created so far waiting for someone else to collide with one of them and receive some money there
Do you realize how much hard drive space you would need to hold all the keys you generate in such an attack? Lets just say, that much doesn't exist in the entire world right now. And then how long it would take going through them all checking for money. The average user could live and die using an address on your attack list and never get compromised because you don't get around to it in time. Why do people have such a hard time understanding _BIG_NUMBERS_? |
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Will difficulty also go down to lowest possible (1?), or will it stay at a high power consuming difficulty?
It will always stay at a difficulty that makes it so that a block is made, on average, every 10 minutes. If the network is small, the difficulty goes down. If the network is big, the difficulty says high. A bigger network = more security. More money from transactions = a bigger network (as more people try to earn the transaction money). |
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Mining will be paid for by transaction fees. The transactions included in a block have their fees given to the miner. There have already been blocks with > 3 btc in fees. In the future, this could be much more.
I hate to be mean, but please do more research before posting questions. Do you really think that you discovered a flaw in the system overlooked by everyone else here when you understand so little about how things work?
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Hey everyone
I ask me why not every bitcoin mine works with a 0 mining fee ?? In my personal oppinion if a miner feels good about his income most times he likes to give a tip for his won wealth. So im sure the miners when they feel good about there mine they will keep it with there donations alive! Im quite sure that this can, instead of must concept works!
We think to mine in a pool can allso be done for free! Thats why we dnt take any fee for your mining effords.
You're asking everyone to trust you with their coins but your professionalism is terrible. He might not be a native english speaker. It is pretty bad though. |
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Who pays for the server and bandwidth?
Almost all pools take the transaction fees as their own, some also ask tips, and some give optional benefits if you pay a fee. Some give the option a pay-per-share and charge a fee for that. Or were you asking about the OP's pool? He seems to think his would work off of tips. |
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I don't think there are a billion keys holding money now. Maybe in the future. If that were the case, the average key would only have .006 bitcoins in it. Not very much of a find if you do collide.
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Not quite sure what you are saying, but there are already a few pool with a 0% fee.
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actually all this uncertainly and fear has made me wire money to mtgox as fast as possible to take advantage of the lower prices.
Ditto |
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Each time Mt. Gox has a screwup, the trading depth on the buy side (which reflects real money entrusted to Mt. Gox) drops. They're now at twice the buy side depth of Tradehill. A week ago, they had six times the depth.
You have to remember that mt gox does not publish depth below a certain point below the price. Makes it hard to calculate total depth. |
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After the hackcrash, everyone was bitching about how there should have been circuit breakers. Now when they trip, everyone bitches. What do you people want?
I want MtGox to publicly state under which conditions those breakers trip. Like this: http://www.nyse.com/press/circuit_breakers.htmlYes, you are right. That would be nice. |
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This "pause" incident has huge repercussions, above and beyond just the folks getting hit on this exchange. Do we want to make bitcoins look like the fisher price toy of currency or what  After the hackcrash, everyone was bitching about how there should have been circuit breakers. Now when they trip, everyone bitches. What do you people want? |
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