Would it be technically possible to produce a digital equivalent of Casascius-style physical bitcoins?
If yes, this would allow the use of BTC without the need to propagate a transaction through the network. In effect it would be the true equivalent of cash. The balance would be recorded on the blockchain for the public address, but transfers of the private key would remain private.
Such a system would need a transferrable digital wallet/wrapper with the following characteristics:
1. An encrypted private key with a passcode.
2. An indication of whether the private key has ever been decrypted (the equivalent of the seal on a physical bitcoin)
3. A way of generating a new passcode when the wallet/wrapper is transferred so that the new owner can be sure that the old owners cannot decrypt the wallet once possession has changed.
Could it be done?
use a mobile phone to send bitcoins back and forth, let the phone deal with everything |
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I think that we will all be fine if you want to mine you will spend the money to buy the kit to do the mining , don't forget how the maths works with bitcoin, its not just about finding the new coins but processing transactions of the coins already in circulation, also why would someone spend tonnes of cash on equipment that looses money over time and becomes worthless at some point in the future. if i had a spare £250.000 i would just buy bit coins direct and leave it at that.
The price of the tech is getting cheaper not more expensive just check ebay !!!
Keep the faith
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Never, all the will happen is people will refer to smaller amounts of but coins with names such as the millibit, microbit and the satoshi.
This simplifies things a lot!
Im not mining Butt Coins lol This is the genius of BitCoin it has decimal places to create liquidity and with the way its been designed to stop inflation on a currency |
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Yeah, I have around 30GH at the moment, with another 19GH on it's way/ordered. It'll keep the house warm over winter if nothing else.  I'm in the UK and my places gets proper cold so im justifying it in the same way, if i have to run a heater at least it can pay for its self lol i feel ive joined bit coin at a turning point with so many people on the fence now . i think you have to start with min 30Ghash to really see anything happen . with 600Ghash from BFL its going to be interesting to see what happens , whats your thoughts ? |
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I am giving away 5 bitcoins as a reward in return for getting 13 real-world businesses to start accepting bitcoin payments.
In order to receive the reward, you must prove that you have convinced and helped a real business with a physical presence (not online-only businesses) start accepting bitcoin payments for in-person transactions. Its bitcoin acceptance policy must then be advertised at the physical location and on the internet.
This may not be a business that previously accepted bitcoins. The minimum business size is approximately 3,000 USD monthly revenue or 4 employees (possible exceptions).
Proof should be provided in this thread so that members of the bitcoin community can judge the validity of claims.
5 bitcoins will be distributed at the end of October as follows: the reward for the largest business will be 1 bitcoin, 0.5 bitcoins for the next 4 largest, and 0.25 bitcoins for the next 8.
Love this idea its why ive gotten so into bit coin and this forum because the people here are really looking out for everyone in the end. so if i can get my local well established fruit and veg shop into bit coin i could win a bit coin. and spend my bit coin buying good healthy food . I like a challenge |
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I've been flip-flopping between EMC, BTCGuild, p2pool, and slush's. My payouts have been basically the same across all the pools, though the speed of payments differs. With a slow pool like p2pool, I was getting the same payout, but it may take a few days before the payments arrived. BTCGuild, with it's fast blocks, means no waiting for payments. EMC is fine, no problems with it to report. I'm currently mining with Slush, out of loyalty - I started out mining there back at the start of the year with a lowly HD5870. I was getting more BTC back then with that single 5870 than I am now with 2x ASICMiner Blades, 11 ASICMiner Erupters. Of course it's an addiction, so I've two BitFury USBs on order, waiting on a Jalapeno since July, and am bidding on another Jalapeno April pre-order. I know they won't make back their value now, but I'm stock piling BTC for when they shoot up to $275 again....  i hear ya , thats a lot of hashing power you got , i dont think people realise that once bit coin goes mainstream you will be looking at a single bit coin being worth around £1000 each |
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this maybe of interest ,
Im still getting the same rewards and same frequency of rewards using the same hash rate i was running 3 weeks ago even though ive seen the pool hash rate basicaly double !!!
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ASICs are not proper for individuals to mine
explain please , also im a qualified micro components electrician so please explain why Asic is no good ? |
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If i put 3 grand for a CPU graphic card mining rig , would i be able to get my cost back in half year?
Never ! its all custom made asic miners now[sic] Just gave MM a [sic]. Anybody else want asic[sic]. whats a [sic] ? forgive my ignorance lol |
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This contract has an estimated payout of 10-20 BTC but I could only get 5 BTC for the same price.
In what universe does it have an estimated payout of 10-20 BTC?  I guess you didn't read the fineprint *Using estimates of:
Bitcoin network hashrate = 450 TH/s in September 2013,
Bitcoin network hashrate = 2,000 to 3,000 TH/s in September 2014 Current network hashrate = ~1200TH/s the estimated payout of 8GH/s is probably more around 1.5-2 BTC, not 10-20, now those 5 BTC you get for the same price don't sound that bad, huh?  im new to the game and already i can see alot of people scamming , and companies ripping people off with made up tech and pre orders, i looked into cloud hashing and decided to stay well clear of it , as im not in control of any of that service. becuase the hash rate is going though the roof and new tech is heading out to the market place the bitcoin mining community is going to see some changes , i got an email about slush 2.0 whatever that will be!! im playing this by ear at the moment , this forum is invaluable for new people and i hope people take the time to read as many posts as possible to save time money and hardship. |
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If i put 3 grand for a CPU graphic card mining rig , would i be able to get my cost back in half year?
Never ! its all custom made asic miners now |
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They should think about it. I've been giving BTC as birthday gifts and it sounds kind of lame to people that they got a quarter of a BTC. Also all the cool ways to give BTC have a minimum size of 1 BTC which is just too much to give away as a gift. I guess they could downsize their minimum order, but then again, it sucks getting like 1/4 of something.
dude if someone gave me a 1/4 bag of skunk i would be very happy. P.s dont do drugs kids |
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I had some large cash deposits which got me a call from the branch manager. Basically told her I was buying and selling bitcoins. Was told not to buy any more bitcoin from coinbase or they would close my account. Got this letter a couple weeks later.
are you in the USA? |
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I'm wondering if its maybe a quality of the extension cable issue. The ones I used was longest I had but was a thinner wire one that some of the short ones that seem rather pointless to even use I have around here. Generally speaking thicker is more conductivity and more expensive to make but better quality wise. Might be able to find a good high quality extension that works but ah no real need.
is there a difference for USB 2 and USB 3 speeds in cables ? like useing a USB 2 cable in a USB 3 Slot? |
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But my rig heats my apartment in this cold autumn days for free yeah im useing my little rig as a heater as well , man what are we doing. |
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I got the same letter. Like, identical except with my account numbers and more recent dates.
wow that's some scarey stuff guys , im in the UK and haven't heard of any banks here causing anyone any trouble, could be wrong let me know if i am, i hear alot of news about the FED cracking down on you guys in the usa, i read that Germany is the first country to accept bitcoin! |
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First of all I am not a lawyer. Follow this strategy at your own risk.
I have seen this strategy used successfully before fighting tickets. basically it goes like this...
You get to court, you are allowed to speak and you ask the judge...
"Do I have a right to a fair and impartial hearing in this court today?"
The judge should reply in the affirmative. Then you will ask...
"Your honor who is bringing fourth this complaint against me today?"
He will reply "The State of California."
You will then ask...
"Your honor who do you represent here today?"
He will reply:
"The State of California."
You then ask:
"Your honor, if the plaintiff here today is The State of California, and you represent The State of California, how is it possible for me to receive a fair hearing today in this court?"
He at this point has two choices...
1. He dismisses the case and leaves the court with his robes in a bunch.
2. He really hits you hard with everything he can think of such as maximum punishments for your ticket, contempt of court, etc. You might think this is a loss, but this is really a win. Why is that? Because if he continues with the charges after you have demonstrated the hearing is impartial you put the judge into the realm of PERSONAL CIVIL LIABILITY, meaning you can now sue the piss out of him and take HIS SHIT. They usually know this and use the threats as a form of intimidation. At this point you could remind him of his civil liability, or you could let him heap on the charges and then take all his crap later when you sue him. Obviously this option is only useful if you wish to actually sue him.
Again follow this strategy at your own risk. I am not a lawyer. I have however seen pissed off judges storm out of the court room after a scenario like this.
This works in the UK , check out Freeman of the Land , John Harris on youtube . our law is what created your law , we gave the USA the blueprint for the Constitution , we have the Magna Carta |
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I still don't get how a GPU miner at maybe $80 used for 400MH/s is better than a $18 ASIC miner that runs at 333 MH/s??
$200/GH vs. $54/GH
How do you justify the GPU being cheaper? Even if you resell the GPU, you would eat at least the $54/GH ASIC cost in depreciation. GPUs use a lot more power as well.
This is all assuming you're mining a SHA-256 coin.
because you're mining ALTs at 4 times++++ BTC profitability. Next BTC diff is 200 million and who knows what the next will be, perhaps 260 million. A USB Eruptor will give you 0.00007513 BTC per day. With a 400 Meg GPU you make .01 BTC per day. Get the point? ASIC are out of ALTs (so far) I disagree , im running my GPU and getting 210Mhash/s and the rewards are small , i run 2x asic miners @336.8 direct in the motherbaord and my rewards are much much higher , still rubbish of course but i cant wait to stop useing my GPU, and run some heavy mining gear when the price falls though the floor on the BFL systems , been watching ebay for 3 weeks now and they just keep getting cheaper. just my opinion guys |
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Cry, cry, cry. You were all fucked - get over it. Do you lose your wallet or purse and still whine over it more than a year later?
It is important to tell this story over and over again, so newbies can see it and dont get fucked so hard as well... Im a newbie and im here because i don't trust the banks or the worthless slave paper in my pocket, im mining to see what the deal is with bitcoin to see how this works under the hood, i appreciate all the info in this forum and it has saved me money. i was keen to order from a few company and after reading the posts here im much the wiser and i havent lost any money. this is important to keep new people mining to support bitcoin and a currency we the people can use and trust Long Live Bit Coin |
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Update...solved. I had hooked up the anker hub through a USB extension cable that allowed me to move it where I wanted easier. I removed this from the equation and restarted everything and guess what now all 6 are getting their 335-336mh rating. Guess that is a bad idea or at least that extension cable is maybe too weak for that amount of data.
I had the same problem with usb cable so now they sit in the back of my motherboard with a fan aimed at them |
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