Hi

I have two concerns:
What if MtGox ownership changes? I would like to see the name BitCoin be released to the public domain so any later owner of MtGox will have a problem changing that policy.

(The OP has 8 posts. Who is it? I couldn't find a press releases section on MtGox.com. Would be happy to see it there, too.)

You are quoting me but my subject was unrelated to the FAQ as the FAQ talks about the same wallet on different machines while I am talking about mining to a different wallet than the one on the machine.

Having forks of a wallet is still a problem and most likely will stay a problem with many ways to loose your money. Don't do it. In doubt, generate a new wallet and transfer all coins to it. If an old backup was compromised it is not enough to generate a new address and send all coins there. Just generate a new wallet and stop using the old empty one.

Concerning my question above, sure if my mining machine was compromised, it might already be mining to a different wallet, so now I think having a feature to mine to a different wallet does not add security but even be bad for security as finding blocks for others might go unnoticed.

Thanx for extending your post. Now I understand. Sorry for not having read more before posting.

Deleting a post/thread doesn't work and I don't intend to censor myself but the following is based on misconceptions about merged mining.
Maybe it would have been a nice idea to have merge mining the way I understood it but it isn't, so ... you can just close this tab

I have read into merged mining a bit today and might not have understood all aspects of it, but as far as I understood, it goes as follows:
The miner has to present the hash of predefined parameters (transactions, timestamp, etc) and some additional data that together results in something that hashes to "a nice number".
Merged mining now does exactly that but for the second block chain it swaps "predefined parameters" and "some additional data" for the second (and third, ...) block chain.
This way, n block chains can be secured at the hashing costs of one block chain.

Positive implications:
* Cool new block chains will get secured much faster than before
* Miners might even secure block chains that don't have a reward for mining just for the good of it. (Namecoin without coin generation would serve a good purpose, so people could support it without taking the generated coins.)
* Once all the major pools do merged mining for 20+ block chains, soon the last noob will understand that the hashing power behind any such block chain does not imply a USD/coin-rate lik many do here all the time. cosbycoin and poocoin will have 15TH.

Doubtful implications:
* "Zero fee" Acoin pools can merge mine B-Zcoin and make a profit from B-Z rewards

Negative implications:
* countless block chains might get support and confuse those who might want to use such digital currencies. Trust in each single such currency falls.

One very special implication:
* What if I receive a fork at my miner now? Until now I decide which one I mine for. It might turn out I mined for the wrong one when a follow up block gets found for the other one first. With merged mining I can just mine for both and if I find a block, announce it for both chains, just in case. This can go on for 20 forks and so on. Prepare to see very long living forks! If I'm right with my conclusions, we will need some mechanism to counter this chain pollution.

+1 Steve.

Like with gold, if buying it on the market is more expensive than mining it, people mine it. Mining expenses per BTC/kg gold follow the market price. As a mining operation is non-trivial (more for gold than for bitcoin) an unexpected decline in the BTC/gold-price leads to "expensive" mining which is not the end of gold/bitcoin.

If you are new to gold your operations will bring gold with a two year delay at least. With bitcoin the delay is on average a month I would guess. Experienced miners can increase their capacities within half a year/two weeks respectively.

With the given investment, miners stick to mining even when it doesn't pay off, speculating it will in the future so as long as mining "doesn't pay off" I know that the majority of the miners has faith in a future for the bitcoin, so no, I'm not worried when mining doesn't pay off. I would be worried if it did.

Seh ich genauso. Vom Wechselkurs lass ich mich nicht verrückt machen.

Anders wär es, wenn jetzt Meze-Grill, Alpacka Socks, etc. keine BTC mehr akzeptieren würden und MtGox wegen schlechter Umsätze aufgeben würde.

So Dienste wie BitPay sind völlig vom Wechselkurs losgelöst nutzbar und solange die Zahl der Akzeptanzstellen wächst, glaub ich fest an einen Erfolg.

Regierungen könnten ein Verbot anstreben und genau solche mimimi-Phasen machen uns verwundbar, aber Bitcoin ist die beste Cryptowährung, die es momentan gibt und ich glaube nicht, dass ein zweites System jemals so weit kommen darf, wenn Bitcoin scheitert. Bitcoin ist too big to fail.

Hab meine Verfügbarkeit auch aktualisiert.

I gave some bitcoins for a birth recently. The CD will hopefully not get lost and yes, I have a copy in my backup but the point is if she knows about bitcoin when she turns 18, she will definitely know what to do with it. If not, well then be it. Same with my savings in Bitcoins. I would not sell at 1 what I bought at 9 as I did not put all my savings in like other dudes so I'm not forced to cut my losses.

I would not use the term "brand new crypto" but rather "well established crypto used to do something brand new".

Also I don't know which Francs you want to exchange for BTC but the French ones don't exist any more since the €.

... else GoAnimate results in funnily stupid clips

That's what I suggested with the "volunteers can step in"-part. Just in case there is no volunteer for that specific business, I would keep nagging them until they say what should happen with the money sent their way.


Hmm ... I don't think my such website would qualify to reclaim that bounty.

No. In my project, the tipping is merely to say, "I really mean it" than to get the target to take that free money.
The point is I could buy a million email addresses and tell them about bitcoin but most would be repelled. Or I could go to each single one of them and write personal messages but that costs immensely much time so within some months I only contacted 15 people. Or I could have a project dedicated to explain "bitcoin for charities" or "bitcoin for business" in the mass mail style as it is pre-made but with a personal dedication as it comes with real money.
I would like to invite the business people to donate the bitcoins we give them or return them as no matter in what way they interact with that site, they will have bitcoin on their mind afterwards.
Actually I assume merchants will in general not take stashes of 1-10 bitcoins but they might be moved a bit knowing that x people tipped them to look into that new thing.

So again: My service is only to promote the use of bitcoin, not to be a way of moving money in the first place. I would even think of using instawallet as an established service with an easy api.

why worry? i'm happy as difficulty falls. pay day is when I'm out of fiat money and I hope this is many years from now with bitcoin really growing strong.

whoever it is, if the value 1000-folds, the incentive to hack does so, too so there doesn't need to be a bilderberg somewhat to go for it. the reward is within the hack.
nice thing is that bitcoin itself didn't get hacked so far. maybe bitcoin will drive the quantum computer research by undercover scientist institutions in a world that has one common currency, the bitcoin

Hi

after having introduced at least 15 merchants to bitcoin so far with close to no success I'd like to start something more coordinated and ask what you think about it.

How I do it:
When I see the need for bitcoin for some business, I send one bitcoin to an instawallet, send the merchant a link to that wallet, explain how easy it was to set up that wallet and send a coin to it and how easy it would be for him to just accept bitcoin (up to here it is how I try to promote bitcoin donations), that he could do it more professionally with individual receiving addresses or get bitcoin completely out of the equation by using bit-pay. Usually I don't through it at them all at once and many claimed it was interesting but none took the BTC so far. Finally I tell them that I will take my BTC back if they don't send it elsewhere within a month, so theoretically this practice didn't cost me bitcoins so far. I'm mostly worried about having all those coins at instawallet, which I don't consider to be a save haven.

How I think we could do it:
# Set up a website
# If you see a target (merchant/charity/etc.) that could use bitcoins, you fill in a form at that website with target name, contact email address and the url where others can verify it is their email address
# The website now lists that target with a bitcoin address that everybody can donate to
# As soon as donations reach x$/BTC/€... the target gets a mail explaining what happened and how he could get those bitcoins and eventually profit from using bitcoins himself
# At predefined thresholds the website sends further mails telling the target that there were 12 people that would love to see him accept bitcoins and even gave him a total of 1.3BTC to try it out ....
# The website shows the balance and the amount already withdrawn together with statistics on how many mails have been sent and eventually the target's response if he stated a public response
# Volunteers can step in and write personal messages coordinated and in the name of that project
# The website could offer the possibility to enter a return address and a date until the target may reclaim the donor's coins.

Any thoughts? If I set up such a service, would people compensate me for a start? Maybe on the long run? I know I could do it but I'm a bit worried about yet another project that doesn't pay for my living. Anybody else willing to do it? Maybe together?

i don't get the point of an ATM tbh.
What would you suppose it to do?
Deal out fiat money I assume.
How would it work?
I send coins from my smartphone to the address in the display and retrieve fiat money?

As the others said, such a machine is expensive. This service can also be done by normal exchange bureaus. With the capability of cashing in the coins at the other end of the world, this could also be done where you now have western union or moneygram shops.

Before this is achieved big style with thousands of such shops accepting bitcoin, I doubt anybody would bother constructing a machine for it. Sure it would generate more hype around bitcoin but the investment would be too high for a first step.

I guess he was more asking for a status page with a condensed overview of what was done so far. Is http://operationbitcoin.org/wallst/transparency.html up to date?

Hi,

every Bitcoin conference is reason to go to the shops near by and ask if they would take bitcoins. This happened before and is quite natural for our community.
Now there are protests at Wallstreet. They ask for all kind of donations and now also accept bitcoins that go I don't know where.

But that's a one time thing that people will not really recognize from outside our community. I was wondering if it would be a good idea to go through their list of food deliveries and ask them one by one if they accept bitcoins offering to buy some pizza and add them to our wiki if they do.

I would honestly not go and take the burden of calling 40 shops, explain bitcoin to 10 of them while the others just shout at me only to be allowed to go through the hassle of getting one of them started to accept my bitcoins, pay him 10BTC and kindly add him to the wiki.

... but ...

We could make a business out of that. An escrow that accepts donations for such a project. Promoters can post proof that a new shop accepts bitcoins and reclaim the checkpot for that. At the escrow you can define how your payment ought to be treated: immediate payment or distributed over the next x months.

Good idea?

Sent 1BTC. 15HMeAEEGrE3sEfknCvHgwMeJYc8s5nzdN if not used for the purpose.

For the purpose of this campaign it is not "us, the bitcoiners and them the #OccupyWallStreeters", so I would change the tone more to "We are #OccupyWallStreet with a good mean of protest at hands".

i don't like the faucet as it collects email addresses. just a thought ...
sometimes new ideas are "better" as new ideas give new momentum and new people to good old ideas so I would stick with the "some money per card". If Gavin cooperates and provides us with redeem codes that you can use instead of gmail addresses, that would be an option.

Why? It would be perfectly ok to have an intermediate page (project.org/claim/your_code) where we explain that any instawallet account used in this campaign will remain legal property of the campaigners and be emptied at some point. Of course the one filling the accounts will not forget all the urls. Also it is good practice to not leave your money at instawallet waiting for the next hacker so the project page could also link to how to install and protect a local client.