The third payment cycle - for posts June 2 - June 8.
Will be sent June 9 - June 11 (no exact day).
What time zone do you base the June 8th cut off on if you don't mind me asking? |
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I would add that it is also safer. Paying with a credit card or check requires handing over information about your account. Often all the information needed to access your money. With bitcoin I can pay without divulging anything that gives any access to additional money. Even if my account is hacked, the attacker can see my purchases but can't spend.
Well, that's arguable I think. If you're 100% sure computer wise then bitcoin is safe as long as you don't make any big mistakes like .... sending to the wrong address, but these things seem to happen to a lot of people right now. How would that happen? It is almost impossible to type in a valid but "wrong" address by accident. The transaction just won't go (like entering wrong details for a bank transfer) Not an invalid address, but this guy just sent 800 btc to the wrong address just a few days ago: https://bitcointalk.org/index.php?topic=636126.0;all |
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Been away from the computer for a while. I was wandering what was the final fate of Mt. Gox? Last time I checked, it had crashed, and no one thought they would get their money back. But there was rumors that people might get back a percentage back or something.
So any updates? Anyone get arrested or sued? And do we know for sure now that it was hackers? A lot of people were speculating that the exec's over there just took the money and ran.
There have been no arrests (not that there shouldn't have been). Gox filed for bk in Japan, as well as in the US. The last I saw they are liquidating, however a number of groups have made offers to continue running the company. Long story short, they lost 650k of 850k of their coins and around 25% of their fiat. They originally lost all of their BTC, but subsequently found 200K BTC. Has there been any more information on how they 'lost' all that btc? I remember Karpeles was spewing some bullshit about transaction malleability but that sounds like complete bullshit. |
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I really like Vikings in History TV. Good show.
Yeah, this is another good one that I forgot to mention. Can't wait for season 3. History Channel has done a very good job with this show. It's really high quality. |
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The developing world isn't ready for bitcoin not because it is unbanked. It just doesn't have enough technology widespread. Everyone has to have a computer to start with...
Actually I think the mobile phone penetration is sufficient. All these modern phones are effectively computers. A lot of these new phones are better than my laptop. I don't think that's an issue as much as the safety of using bitcoin. As well as the volatility. |
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I tried to put action groups in place to get back property or prosecute people that scammed people and live in the USA.
The majority of bitcoiners say "Its not worth the time or effort" WE THE Bitcoin population allow this shit to continue due to the lack of action by the community.
The losers that lost their coins dont have an interest in "throwing good coins after bad coins". I didnt lose there so i wont take part but i would if i was a victim.
I'd really recommend all the investors to form a group action against him and them just have the law firm handle as much as possible.
Not only do you need to find investors who want their money back, but you also need a local agent. Even for a big bounty (see signature), nobody seems to be interested. People would be more interested if there was a chance that people who participated in the scheme could recover some of their stolen coins from Trendon. But from reading all the information released here it appears that Mr. Shavers actually only gained a shockingly low amount of profit from the 5-10 million dollar scheme. And any profit that he did gain is almost certainly gone by now. So it would be futile to try to collect from someone who has no means to pay back. Unfortunate, but true. |
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There are no perscription psychedelics. And there are no psychedelic opiates unless you count ibogaine.
 That's for research use only. Not quite the same as a legal prescription. |
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Mechanisms to deal with large hashers that approach 51% are already in place. When an entity reaches that point and they are deemed to not be trustworthy, that will cause the value to decrease. When the value decreases then they no longer have an incentive to have that much hash power running and will stop.
You mean the price of Bitcoin decreases and the big hasher stops hashing that much? I wouldn't call it a 'mechanism to deal with large hashers', because everybody is punished proportionately with the decrease of the price (smaller miners may be punished even more than big ones). If that is the only 'mechanism', it's as good as none. Finally, someone gets it. The invisible hand of the market is more like the invisible fist? |
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So what I'm gathering from reading this thread is that:
Monero is a good solid coin with the best anonymity features and linear distribution curve. Seems to be a better version of bitcoin with the slight issue of potentially being dominated by botnets(although Satoshi didn't' think botnets would be a problem for bitcoin when it was cpu only).
NXT/NEM is the one with potentially groundbreaking features but it remains to be seen how it's used and how the public accepts this new style of distribution. If businesses and the public were educated on the potential benefits of using NXT it would have a good chance to make some real headway.
Interestingly enough it almost seems like if bitcoin were to decline/fade away that both these technologies might even be able to coexist successfully. Monero replaces bitcoin as the standard cryptocurrency for black market transactions, store of value, and general use. And NXT can capture the blue oceans of new markets and new uses for modern business and asset exchanges.
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And what if Internet is intelligent and has gain consciousness, but does not manifest it to us? ;]
What if Satoshi Nakamoto is the internet itself...  |
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NXT and Monero, these two are completely different coins and they cannot be compared IMO. Which one has a better chance of becoming a successful alternative to btc/ltc?
I'm sure Darkcoin or(and) Zerocoin/Zerocash will overcome Bitcoin someday. Why can two different coin technologies not be compared? What are the advantages and disadvantages of each tech? Monero is maintained for anonymous transactions but it has some flaws in its code and other problems like being botnet raped. NXT is the first pure PoS coin written from scratch. It brings asset exchange and some other features but suffers from unfair distribution. Which one is better and how to compare them is up to you. What sort of flaws have been discovered in the code for Monero? I do know that NXT is mainly criticized for the initial distribution of it's coinbase. But if the technology is superior that doesn't mean that another coin based off NXT couldn't come along and solve that problem. If NXT's PoS system is superior to the CryptoNote PoW system that's vulnerable to botnets then that's a big plus for NXT. |
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Why do you expect downward pressure on the transaction fee? As the block rewards continue to be cut in half, miners will be expecting to get more and more of their profits through the collection of fees.
Fees may rise marginally in USD terms but a rising exchange rate means they will fall in BTC terms. Fees today (measured as BTC per KB) are 1% of what they were initially and the block reward is half as much (in BTC terms). Will fees rise on a USD basis? Maybe but maybe not. Miners have very little pricing power. The block reward prior (including avg fees per block) prior to the last halving was ~50.00 BTC and today it is ~25.01 to 25.10. The rise in fees per block has more to do with the 10x increase in tx volume than miners exerting any pricing pressure. I think miners should collectively act to keep fees as low as possible in USD value to maximise potential adoption while it's still early in the life of bitcoin. Fees will go down in btc, but I don't think it's in anyones interest for fees to ever go up in USD. Not for a long time anyway. If miners processed low fee transactions it would lessen the barrier of entry for some people. Even if we see another 10x rise in transaction volume by the next reward halving, I still think it's more profitable in the long run for bitcoin to charge the lowest fees possible. |
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What version of electrum? How much are you sending?
1.9.8 I've tried it with different amounts. Last normal sized transaction I did was ~0.3 and it wanted 0.0004. Maybe if I set the default to 0.0001 it would have taken it as a 0.0002 transaction, but I'm not sure. I'll keep testing it out seeing if I can find ways to send some tx's with lower fees. I guess some of my transactions are just too many kbs. |
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Distance from Earth to the Moon is not constants, but I think we can assume its 363 104 km (perigee). Gas price differs depending on the car and gas price, but I think that 0.1$ per km is reasonable. So to buy enough gas to drive from Earth to the Moon one need to sell his 1BTC for 36310,4$.  Hope we will reach Moon soon, next stop Mars ! Good analysis  Now we have a solid number that we can reference as we get closer and closer to the moon  |
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Bitcoin has a long way to go to ever be usable in Cambodia. It's not nearly user friendly enough and the risk of theft or loss is simply too high for the average person. It would take a full service company like Circle to build the infrastructure and support network required to enable adoption. The company would in effect have to operate like a bank initially, safeguarding people's funds until the market is mature enough to secure itself.
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Centralized crypto currency would fail miserably. Anyone that understands crypto currency understands that decentralization is the overall goal.
So how come centralization is what we are seeing? Big mining pools and , more importantly, farms. And bitcoin ever becomes mainstream the current blockchain model doesnt scale. And who is going to control the datacenters with the super nodes? Read the bitcoin whitepapers, decentralization cannot be the goal simply by design. I agree with you. What we're seeing now with bitcoin is something that is vastly more centralised than Satoshi could have ever imagined it would be. I'm not sure the bitcoin community fully understands how centralised bitcoin actually is currently with the way mining has evolved. |
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Despite what many people on this message board think, I personally think it's incredibly unlikely that the USD will be failing at any point in our lifetimes. For that to actually happen unprecedented events would have to take place. The global economy would no longer function as we know it today. Many people believe that the US debt alone is going to be sufficient to collapse the USD but I don't think that holds up under any rigorous analysis.
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I can almost guarantee the tx fees are going to rise. As bitcoin grows it will only be natural for the fees to rise. It also depends on how you look at it.. Technically the fees are changing every day with the value of bitcoin fluctuating, however in terms of will the tx fee ever rise above .0001? The simple answer is yes.
Yeah the value of the fees goes up as the value of the currency rises. The market will take care of the rest. You can all ready get a transaction through faster by sending with a higher fee. I think there will actually be downward pressure in the price as the transaction volume increases due to economies of scale. Why do you expect downward pressure on the transaction fee? As the block rewards continue to be cut in half, miners will be expecting to get more and more of their profits through the collection of fees. |
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NXT and Monero, these two are completely different coins and they cannot be compared IMO. Which one has a better chance of becoming a successful alternative to btc/ltc?
I'm sure Darkcoin or(and) Zerocoin/Zerocash will overcome Bitcoin someday. Why can two different coin technologies not be compared? What are the advantages and disadvantages of each tech? |
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Just go under tools, preferences ... You can change default fee, or just change on each transaction.
It still does not let me send. I've done that before but it won't accept it. It just says 'This transaction requires a higher fee or it will not be propagated by the network.'. |
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