[...]
And, there should be no presumption that there should be a single, agreed upon exchange rate in order for Bitcoin to funciton. As we have seen, once the limits of arbitrage volume are reached, friction between markets will maintain a channel that refuses to close. Once this becomes the proverbial firehose-through-a-soda-straw we will likely see rather large arb channels. This, particularly if governments choose to impose capital controls. It is not entirely unprecedented to see de-facto, and even official currencies with bifurcated exchange rates under these circumstances.
Granted. But there is a fundamental difference between "restrictions in region 1 lead to price x, while in region 2 price is y, and arbitrage cannot fully resolve the gap between the two" and "9/10 of earth's population thinks bitcoin is silly make believe money". Note, I'm not saying that that is the case right now, or will forever be the case. Just that each (commercial) transaction represents a pair of agents that beliebe in bibcoins. Which is good. I beliebe in bibcoins! |
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Is there any way to verify that a setup of p2pool is correctly merged mining? I added in the --merged and the namecoind info, and on the p2pool console display, once in a while i now see "new merged mining work received" or something along those lines - but i never see anything else. When i getinfo on namecoind, "hashespersec" : 0, is always at 0.
Is there some way to verify it's indeed merged mining, locally?
bump - I have this same question as I'm investigating now, seeing the same results as you as well... Trying to get my head around p2pool and it's capabilities/limitations As long as it says "new merged mining work received" you are good to go. There is no other indication to look for other than a chunk of coins when you find an altcoin block. the difficulty is really high on ixcoin and namecoin. keep in mind when you merge mine with p2pool, you're using your hashpower only for the altcoins. it'll likely be a while before you get a block. M Thanks, was curious about that part and assumed that was the case but still curious. So I got all of them working (BTC, NMC, IXC) except DVC.... not sure why but that one always gives me failed to get auxblock messages (had to take each one out and add back in unfortunately to figure this out .... is there any better info for debugging?). Is there something special about devcoin that I need to do in order to get it to merge mine properly? My conf files are more or less very cookie cutter at this point. Devcoin isn't any different. Just make sure you don't have a typo in the username/password/port. |
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The only way a merchant would want BTC is if a supplier wanted BTC. This could be just somebody selling a service, which would be fine, but if you are buying an actual product, you'd need the manufacturer to want BTC, which would mean you'd need some of the people working for the manufacturer to want BTC (or I suppose the raw goods provider).
What I'm trying to say is that no big company is going to want BTC at this point unless they are either (A) created from the ground up around BTC or (B) they have some way of offloading that BTC to individuals that want BTC. Companies at this point wont want BTC, people will.
Companies don't have to want BTC at this stage. Let them take their fiat. But when they start seeing the option to pay their suppliers in BTC they might look further. It is only AFTER mass adoption that most merchants will want to accept it directly. They don't want to be speculators, but if it can cut costs they might consider holding some briefly. PayPal could give Bitcoin quite a bit of momentum in that direction by accepting Bitcoin payments for conversion to the recipient's local fiat for all accounts. They already have the legal team with the most expertise in internet payment and currency conversion regulations. They could leverage their unique capabilities, but they also know that they can time their entry because any other entrant has to spend a lot more time and money deciphering and meeting regulations. Just because they will be ready to throw the switch doesn't mean they will just yet. |
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They are registered as a money transmitter almost all over the world. They must have a great legal team and lots of experience. If they'd adopt it now they'd become the mtgox of bitcoin transmitting overnight. Some day we will either laugh at thinking, that devil could adopt bitcoin, or laugh how we thought they didn't see the obvious opportunity. Merchants want fiat not BTC. Unless paypal merchants can receive BTC payments in USD, it will mean nothing. The only other benefit is people can buy BTC with Paypal. Cool addition but hardly an earth shattering update. Even if such rumors were true, any rise in value would be little more than a speculative bubble if its just BTC -> BTC transactions. My $0.02.
I tend to disagree. Adoption by a "bank" as huge as PayPal would: 1) Generate a massive media coverage. 2) Make much more things available for purchase using Bitcoin through PayPal's currency exchange. 3) Make many companies adopt Bitcoin if it'd be as easy as "selecting an option" in PayPal. +1. In addition, PayPal would love it because they could buy BTC with PPUSD. |
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About bitcoinstore.com failing: I checked them out with BTC to burn, but their prices did not bowl me over.
I thought the prices were good, but finding what I wanted was painful. |
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OK so add to ASIC readme:
In same cases you need to restart a computer
And that other bug.
If you have more then 5 GPUs it can happen that you are unable to increase intensity over 8. No idea why... When I had 5 in a miner it worked but when I added 3 more I could not. All GPUs were hashing at the speed of the slowest. But if you increase difficulty from 4 to 10 or more you could... So that was my workaround...
Or is that wrong way of submitting problems?
Thank you for making an effort. The general procedure goes like this: 1. Fork this repo: https://github.com/ckolivas/cgminer2. Make you changes 3. Submit a pull request for your changes You can easily make the README change yourself. Unless you are a programmer, you probably can't track down the other bug to fix it. For that one, you could try the IRC channel and ask if one of the developers there has the hardware and is willing to look at the problem. However, I doubt GPU related code is very high priority at this point since GPU miners are a dying breed. |
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Is there any way to verify that a setup of p2pool is correctly merged mining? I added in the --merged and the namecoind info, and on the p2pool console display, once in a while i now see "new merged mining work received" or something along those lines - but i never see anything else. When i getinfo on namecoind, "hashespersec" : 0, is always at 0.
Is there some way to verify it's indeed merged mining, locally?
bump - I have this same question as I'm investigating now, seeing the same results as you as well... Trying to get my head around p2pool and it's capabilities/limitations As long as it says "new merged mining work received" you are good to go. There is no other indication to look for other than a chunk of coins when you find an altcoin block. |
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It's been less than 18 hours since your first post. I'm sorry our FREE TECH SUPPORT was not quick enough for you.
It wouldn't be free if it would be TECH SUPPORT(ok it would be but you would get a donation as I stetted)... 2 times I needed help and the bug reported first time is still in cgminer... And that time when I was reporting it I was told it not a bug it is is you or your system(but it is not since I found workaround)... This time it was read readme that didn't work... Needed to do something that was not in README... Exactly. Normally you would be have to pay people to help you. But instead you come here begging for advice and then get pissy when people try to help you. I get it, all you know how to do is complain. cgminer is open source. If you have a bugfix or a documentation update, please submit a pull request. Until then, be happy that thousands of hours have been spent by other people building the FREE software you are taking for granted. |
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Realistically, sometime early September. Ideally, tomorrow.  That would be far from ideal. Think about it. I find myself in the strange position of wanting the price to go down. I've had to cash out some of my holdings to pay for my summer holidays, and now I want to be able to buy back, ideally at a lower price  Perhaps there are a lot of people in a similar position? Yes there are, I preffer lower price of Bitcoin as well. Better board the train soon  . |
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Are you saying you have installed zadig and used it to install the WinUSB driver for your hardware? Your original post seems to indicate you were looking for the driver: Where do I get that driver?
I am trying to understand the situation in order to help you. Please drop the attitude. You are not describing your issue clearly enough for anyone to solve your problem for you. How come this is not clear... When I needed help there was none now all of you are looking to help... Figure it out... Readme is missing restart computer...
If it is not clear from that I solved it... It's been less than 18 hours since your first post. I'm sorry our FREE TECH SUPPORT was not quick enough for you. |
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The topic of the orphaned blocks and low tx fees in AM blocks was recently addressed by the board.
Thanks and apologies for missing this the first time it was posted! Normally I click on friedcat's username and read his posts. Should I also be following posts of a specific board member? e.g. ThickAsThieves? Thanks again! TAT will pretty much always post important things that friedcat doesn't post himself. He posts a lot more than friedcat though, so there is more to sort through. |
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Are we seriously talking about $2 wiggles?
Yep, and it's all based on whales and walls. |
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It's poll time!
As a shareholder I would like to see a question about the network connectivity of the node. Specifically is there is a plan to address the number of stales and the low number of transactions in the blocks mined by AM. This would help increase shareholder value (more blocks, more transactions) and also address a concern that the community has about AM. It would also increase confirmation time and thus make the network better overall. Thanks! OFFICIAL UPDATE
The topic of the orphaned blocks and low tx fees in AM blocks was recently addressed by the board.
Friedcat is aware of the problem and Bitfountain is working to solve it. In the meantime, it is a negligible but necessary loss.
It is not as simple as it might seem. The problem comes from peering and poor bandwidth/internet connectivity in China and software optimizations used to deal with the situation. Companies like Amazon(.cn) also suffer from these problems in China. It isn't necessarily a problem caused by the Great Firewall itself.
Thank you,
~TAT
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I thought it might have been there to make the weekend less bleak. Guess I will have to see now what Sunday brings.
Can we finish Saturday first? 11.25 hours left in UTC. |
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Are you saying you have installed zadig and used it to install the WinUSB driver for your hardware? Your original post seems to indicate you were looking for the driver: Where do I get that driver?
I am trying to understand the situation in order to help you. Please drop the attitude. You are not describing your issue clearly enough for anyone to solve your problem for you. |
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I'm sure this was answered but can't find it using search and reading all is out of the question...
Jalapeno
[2013-08-02 09:57:22] USB init, open device failed, err -12, you need to install a WinUSB driver for - BFL device 7:2
I'm googling and the only solution that work was use BFGminer... Now I'm sure it is possible to use cgminer but have no idea how... Where do I get that driver?
I found one on net but didn't work... And according to Jalapeno how-to it should be plug and play...
No comment.... Your answer is contained in the first 48 lines of the ASIC-README file. $ head -48 ASIC-README
SUPPORTED DEVICES
Currently supported devices include the Avalon, the Butterfly Labs SC range
of devices and the ASICMINER block erupters.
The BFL devices should come up as one of the following:
BAJ: BFL ASIC Jalapeņo
BAL: BFL ASIC Little Single
BAS: BFL ASIC Single
BAM: BFL ASIC Minirig
BFL devices need the --enable-bflsc option when compiling cgminer yourself.
Avalon will come up as AVA.
Avalon devices need the --enable-avalon option when compiling cgminer.
ASICMINER block erupters will come up as AMU.
ASICMINER devices need the --enable-icarus option when compiling cgminer.
Also note that the AMU is managed by the Icarus driver which is detailed
in the FPGA-README
GETTING STARTED WITH BUTTERFLY LABS ASICS
Unlike other software, cgminer uses direct USB communication instead of the
ancient serial USB communication to be much faster, more reliable and use a
lot less CPU. For this reason, setting up for mining with cgminer on these
devices requires different drivers.
WINDOWS:
On windows, the direct USB support requires the installation of a WinUSB
driver (NOT the ftdi_sio driver), and attach it to the Butterfly labs device.
The easiest way to do this is to use the zadig utility which will install the
drivers for you and then once you plug in your device you can choose the
"list all devices" from the "option" menu and you should be able to see the
device as something like: "BitFORCE SHA256 SC". Choose the install or replace
driver option and select WinUSB. You can either google for zadig or download
it from the cgminer directory in the DOWNLOADS link above.
When you first switch a device over to WinUSB with zadig and it shows that
correctly on the left of the zadig window, but it still gives permission
errors, you may need to unplug the USB miner and then plug it back in
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I know reading is hard, but posting here is not the way to get your question considered: If you would like to add a question, pm it to me.
Emphasis is TAT's I know patronising others is easy, but I don't see anything wrong with collaboratively discussing and refining potential questions here. Particularly if the community can help answer quesions without the need to bother Friedcat. I'm not trying to stop discussion. I'm just trying to make sure people know that they have to actually submit the question. |
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I know reading is hard, but posting here is not the way to get your question considered: If you would like to add a question, pm it to me.
Emphasis is TAT's |
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The OP either does not understand margin calls or is ignoring them.
Lets ignore fees and spreads (since you already are doing so). If the market goes south on your leveraged position, you will get called and your position is closed. According to your strategy, that's fine because your opposite position will cover the losses right?? WRONG.
The other market is probably not going to be showing the exact same market value for BTC.
You are probably not quick enough to manually sell your position at the exact moment your margin is called.
The APIs don't exist for you to automatically follow this process. Even if they did, they still wouldn't be fast enough.
If the course of the market reverses after your call, you lose money. Your investors lose money.
Finally, kindly add a fourth item to your risks that includes the possibility that you realize your folly and abscond with your (blind) investors' money. I apologize to the community at large for bumping this post while disproving the OP's false understanding of zero risk.
This. If you get forced closed and then the market reverses before you can make your trade you (and your lender) will be fucked. |
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I see absolutely no trust feedback for your account. Hopefully you can understand why that would worry an investor.
Also, if you are leveraging one account but not the other, dont you risk a margin call and a bounce? That's why leverage is risky.
Pirate@40 had the highest trust rating around (on bitcoin-otc since the forums didn't have trust at the time). You are right to be cautious, but don't rely too heavily on "trust ratings". |
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