Hehehe I knew the title of the ad would ruffle some feathers  |
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If so we may see many more endorsements (and massive buy-in) over the next few days, followed by a tidal wave once Coinlab opens.
Will there be enough BTC for sale ? There is always enough BTC for sale. It's only a matter of price. There will never be a sustained shortage of anything that has a floating price. |
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Well Bitcoin IS mind-boggling, but it's not backed by natural resources. It is actually more accurate to say that Bitcoin is a natural resource itself... or more accurately a man-made resource.
Like gold, Bitcoin is not backed by anything because it is useful for certain purposes.
Sometimes I worry that I will wake up and Bitcoin will all have been a dream. I'll try to explain it to my friends and family, who will dismiss the silly dream as absurd. Of course you can't have secure decentralized digital money! Psssh!!
But yet, it seems real, and we're living it right now.
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If bitcoins are ever at the price level of 1 BTC = $10k, they will not be used for gambling microtransactions or small online purchases, they will be used by bankers and gangsters (can you tell the difference?) to hide and move large sums of money.
Why not both? Because of the limited size of blocks, there can only be so many transactions processed per block. Because of the way the transaction fee works it makes sense to send large transactions rather than small ones. This can be mitigated somewhat by increasing the maximum block size, and by lowering the threshold for requiring a fee, but as the value of one bitcoin goes up, the amount of bitcoins in a microtransaction or purchase goes down. The fees have been lowered in the past, and if the price of bitcoins continues going up they could be lowered again, but if blocks are getting filled up then it does not make sense to lower the fee. Don't assume that all Bitcoin transactions occur on the blockchain. That is very naive. In the future, the vast majority of transactions will never touch the blockchain. They will be internal transactions between the large successful ewallets. |
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This is pretty much the best news regarding bitcoin we could have gotten from the government.
Are you out of your fucking mind??? No I agree, it is the best news US peoples could have hoped for. Bitcoin is now explicitly legal and will be regulated like real money (we knew it was already real money, but now the "normal business community" will as well). I've long said that Amazon will not accept Bitcoin until the legal uncertainty is removed. This just removed it. There is good and bad in this news, but the net effect is extremely good. Bitcoin demolishes all resistance, and just entered the next phase of its evolution. |
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Awesome job with BitSpend.net. Simple idea and perfect execution. This is the kind of thing that will bring Bitcoin to the world.
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I would guess the following about Satoshi:
1) He is alive and owns some substantial amount of coins. Of course nobody knows how many he has, for this would be impossible to know.
2) He is hiding and will never come forward as Satoshi. He must read the forums regularly, and is likely astounded that Bitcoin has grown to such a project. I bet he gets a little teary whenever he reads the latest developments, and in the back of his mind is thinking, "holy shit look what I did!! Badass!"
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Great news, thanks for the update  |
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Hope it's down forevere until you fix it.
How do you feel about being responsible for this fuckup because of your inaction to fix your shit?
Please don't be retarded. Someone told you the same almost 6 months ago and change the way your game works. And you didn't listen... Why should I listen? So, who's being retarded? SatoshiDice is not broken. It does not need any "fixing." What you are referring to is that there is an issue with Bitcoin itself that is being exposed by the high volume of SD transactions and by the tiny microtransactions it's creating. SD changing its behavior to "work around" a problem with Bitcoin itself is nothing but delaying an inevitable issue with Bitcoin itself. Far more important that Bitcoin fixes this problem, so that neither SD, nor any other of myriad potential services that could use the blockchain in the same manner (or worse, for explicitly nefarious purposes), is able to cause these issues. SD changing itself leaves the problem to persist in Bitcoin. I don't see why people think that's the wise course of action. With that said, SD now does not send single satoshi transactiosn anymore. The smallest "dust" it sends is 5,000 satoshis, and this was done to marginally ease the strain on the blockchain. But if it's not "okay" to send 1 satoshi, or 5000 satoshis, even if fee is paid (which it is) then that feature shouldn't be available in Bitcoin's software. |
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Hope it's down forevere until you fix it.
How do you feel about being responsible for this fuckup because of your inaction to fix your shit?
Please don't be retarded. |
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SD is back again processing bets normally. Any bets placed during the downtime will return to you with the proper win or loss, but may take a day or two to clear. Bets sent now should clear normally without abnormal delay.
Thanks much for your patience.
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Yes, fixed now.
Fixed as in the chain containing the large block is now officially orphaned? No, the 0.7 chain is still at 225441 while the 0.8 chain is 225453. Even worse, someones are stilling mining on the 0.8 chain Is there any way us mere mortals without minig rigs can help? if we all come online with version 0.7 will it help or just create excessive traffic? I think we should all contribute to the Devs beer and holiday fund, is there an address for this?? I don't have any mining hardware currently, but I want to contribute to the cause so I'm doing the hash algorithms by hand with pencil and paper. I then scan with OCR and email it into the blockchain. I know ASIC's are out and all, and each hash is taking me forever, but I know I'm helping at least a little bit. |
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I personally am surprised and delighted that we move in this direction (back to the universal fork as trunk) rather than force an upgrade.
So am I. I thought only once banks or governments start cracking down on Bitcoin we will appreciate Bitcoins's capability of graceful degration [http://en.wikipedia.org/wiki/Fault-tolerant_system] but it only took a flaw to proove that it has that capability. My deep respect for the devs who took this issue on and solved it. You guys made Bitcoin and my believe in it even stronger. To blockchain eternity! Joe I think I kinda understand why this is a good thing, but can you explain like I'm five? Basically, why would it have been bad to let the 0.8 chain continue? Is the reason that it'd "force" older users to upgrade and that's a mean thing to do? |
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So if I may say something... I learned about this glitch fairly early on and immediately hopped into the bitcoin-dev IRC room. The impression I got was one of many brilliant, professional, dedicated bitcoin developers working together to resolve the issue. I was immensely impressed with them.
Even people like Luke-Jr and myself, who seem to be mortal enemies, worked politely together and did what was needed to contain the situation and fix things. Most of the people in the room stayed respectfully quiet and let the important work occur.
To all the amazingly intelligent devs who make this crazy shit actually work, my hat is off to you (even you, Luke-Jr!). Eternally impressed with your work, coordination, and skill. And this all being done for the simple passion of Bitcoin. Quite inspiring, really.
paid shill? Wouldn't be the first time people called me that. |
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So if I may say something... I learned about this glitch fairly early on and immediately hopped into the bitcoin-dev IRC room. The impression I got was one of many brilliant, professional, dedicated bitcoin developers working together to resolve the issue. I was immensely impressed with them.
Even people like Luke-Jr and myself, who seem to be mortal enemies, worked politely together and did what was needed to contain the situation and fix things. Most of the people in the room stayed respectfully quiet and let the important work occur.
To all the amazingly intelligent devs who make this crazy shit actually work, my hat is off to you (even you, Luke-Jr!). Eternally impressed with your work, coordination, and skill. And this all being done for the simple passion of Bitcoin. Quite inspiring, really.
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Hey All, Regarding the temporary blockchain fork that just happened, I turned off SatoshiDice for now. All bets will still process fine, but everything is frozen until I turn it back on. I did this in case it would assist the devs to solve the problem. So I recommend you hold your bets for now, but if you place bets, please be patient as they will return to you once I turn the system back on. Nothing will be lost in the void. Relevant thread here: https://bitcointalk.org/index.php?topic=152030.0Thanks, -Erik |
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My favorite comment: "This is my take on all this chatter lately about the wonders of Bitcoin. They will do anything to get people NOT to invest in gold and silver. This is just another sign of their desperation. cute little name but, look who is behind this, and who owns markmonitor, thompson reuters, who controls thompson reuters, Rothschild! Now why would Rothschild be so interested in Bitcoin? Hmm Registrant: Dns Admin Google Inc. Please contact 1600 Amphitheatre Parkway Mountain View CA 94043 US +1.6502530000 Fax: +1.6506188571 Domain Name: google.com Registrar Name: Markmonitor.com Registrar Whois: whois.markmonitor.com Registrar Homepage: http://www.markmonitor.com" |
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