This may be off topic, but I just switched my primary PayPal currency from USD to CAD. I received a 1:1 exchange rate. This is insulting, since the Canadian dollar is above the USD almost 5%. That's a lot of "service fees" to pay for a simple one time exchange.  |
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I will keep my mining rigs running no matter what. I'll completely cover the electricity costs if needed (provided I have a job to pay) at full loss.
That is an awesome attitude, and is the same thing I do. Sure, it may not be considered profitable at every moment, but I believe in the technology and I believe prices will rise. |
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If you're interested in running the site, shoot me a PM and we can work out compensation, etc.
I don't want to dissuade others, so I'm posting here that I'm not interested. I think it's a great idea, but I don't have much experience with those technologies. Good luck! |
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Yeah, I think so. The potential liability of somebody finding an exploit and stealing from my customers, plus the potential legal liability is too much to shoulder for the amount of money that I could potentially make on that sort of thing.
It makes me very sad to have to close the site, especially after I've put in n-hundred hours of work on it, but I think this is the best option.
I'll reiterate: if anyone wants to take over operating the site, I will give any and all assistance I can. I really don't want to see this site die, even if I can't run it anymore.
Duncan, with your generic message on, I can't tell much about the technology. What language and database did you use? What compensation are you looking at in exchange for transfer of the service? |
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Why the fuck can't they give a heads up before dropping off the face of the map!?
So they can steal as much as possible? |
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Isn't this just a watch with "BTC" engraved on the back? Never mind, I see more custom features.  Very nice watch BTW. |
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niemivh you are right, mining will not be profitable in the future. Bitcoin is the only commodity in history that has a GUARANTEED REDUCTION in rewards by 50% every few years until returns drop to ZERO. Then you are depending on transaction fees which have no guarantees that they will be significant.
What are you talking about? Bitcoin does not have a guaranteed reduction in rewards. MINING bitcoins does. The two are completely different. |
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I predict that a client for casual users that stores as little of the chain as possible will be in widespread use at least one full year before the size of the block chain database file grows to the size that would take up 1% of the average (mean) hard drive size of typical home PCs.
Forget home PCs for a second. For bitcoin to go mainstream, we need to be able to pay from our cell phones. Modern (even near future) download speeds can't handle the blockchain size. |
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So why are we expected to pay these guys 2% of every transaction to use this service as a merchant?
I have no problem paying a fee to use a merchant service. However, they should take the donate "begging" link off their front page before they start. |
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They responded by "freezing" my "pending" transactions. Their site said I had "0 pending" transactions. But the last ACH withdrawal made 3 days before the phone call has yet to be credited to my bank account. Anyway, I will give it a few more business days, then try written correspondence, then seek civil and criminal penalties. I figure it will be worth it since I can get costs and if I'm lucky treble damages, punitive damages, or restitution. It would be a class action if they are doing this to lots of people.
Class actions only benefit the lawyers. Usually the plaintiffs get pennies on the dollar. A series of individual small lawsuits would do a lot more damage to them. |
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Yes, at BuyMyBitcoin.com all transactions are settled off-site. Reputations help build trust and the actors can work out their own arrangements - be it escrow or trust.
Reputation doesn't matter on an exchange when you are guaranteed to get your btc/$ the instant the trade goes through. With your method, sure you can trust somebody until they decide a certain trade is worth ruining their reputation. Until then you need to deal with language and time zone issues, and wait until the transfer goes through through various means. I really don't see the advantage.  |
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To make it harder/longer for an attacker to upload the wallet.dat.
would it not be easier to just not have a NIC then? might as well come up with a system where you plug a USB drive in with packets to and from 2 computers and accept or deny any packets you don't want. Come on, that's just STUPID.  |
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That's all you need Its called limited bandwidth security. (LBS)
I sure wish installing a 10 Meg card limited my bandwidth. Maybe I could find a .10 meg card somewhere. You can get an older token ring card, and set up a LAN with 253 other slaves, and one proxy to the internet. Set all the other computers to generate random bit images of smurf porn and transfer via bittorrent. That would slow your network right down. |
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LOL, I always thought it would go: 1. Buy a cheap new still in the box computer from a store far away (in case someone is expecting you to buy one locally and rigs them all to spy on you) 2. Inside a tent (to prevent spys with fancy camera, spy satellites, etc) in a large field boot Live CD and run vanitygen 3. Memorize address and private key 4. Destroy computer 5. 6. Profit! The tent needs to be lined with tinfoil, or satellites could read the data by measuring the magnetic fields emitted by the hard drives. |
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The weak spot in Bitcoin is the size of the blockchain.
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I don't think an auction format will fly for the sale of bitcoins. I list a bitcoin at $10, someone lists it at $9.99. Now I have to edit my auction? How is that any different than an exchange?
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If in the end, the exchanges stop using Dwolla, I am completely done with them as a customer and will no
longer recommend them to my friends. Hopefully they have an easy way for me to delete my account via a few clicks of
the mouse.
IMHO you should have stopped recommending them the instant they unilaterally changed their terms without notice. That's illegal. |
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I do a lot of online work for people I have never met. I dislike Paypal, but I can't drop them until I have a similar replacement. |
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Dwolla has already refused to respond and only admitted in one email - right before we went public - that 'charge-backs' did/do occur. After which, they promptly changed their TOS on July 25th (the day we went public). Everyone knew they promoted and marketed 'no charge-backs' and this is what made them so attractive to Bitcion exchanges.
I believe it is illegal to unilaterally change terms of service without notice. I hope you have copies of their old terms so you can sue them. You are doing a great job Adam. Ignore the couple trolls who are trying to twist your words. |
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I'm back home in China now.
That whole story SUCKS Nefario. I had a similar negative experience with them, and now I use a travel visa every time I plan to pass. Doesn't give them a chance to say no. |
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