I was panicking a few minutes ago but asked around. The issue will be over in a few hours, and any crash will be momentary. Only 11 blocks or so were affected and it'll all be over very quickly. By tomorrow morning, we are back to business as usual.
Maybe we see a temporary dip, but that'll resolve eventually, because this issue is not really a big deal except for now. We don't see many hard forks and I'm sure the devs will be much more cautious in the future after this has happened.
This. Seriously, I'm just kicking myself for not having any standby cash in MTGOX. I'm kicking myself for not having funds in BTC-e! By the way, I see this as a huge, enormous, unbelievably fucking huge deal. This is completely different from a scam or a hack, this is an "accident" that just froze the whole fucking economy. To demonstrate why this is a huge fucking deal, consider yourself in two scenarios: 1) You are a Bitcoin "Big Dog" holding onto >10,000 BTC and you see, "URGENT: Chain fork" on your client. When the network reorganizes itself, how do you respond? 2) You are a wealthy investor and trader. You've heard about this Bitcoin thing and are amazed at its performance over the past few years, and you've become excited upon hearing that soon, exchanges such as CoinLab will allow you to purchase BTC in very large chunks and store them securely (i.e. safe from hacks/theft, etc.). But, after hearing about the recent Bitcoin fork, how confident would you be in the safety of your future investment? |
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I just deposited 1.5 BTC into my QT client wallet a minute ago, but now the new BTC AND the transaction all disappeared from my QT client main screen. Also I'm seeing all these warning about a blockchain fork, should I wait or change my client to 0.7?
If you're mining, make absolutely sure you're using Bitcoin 0.7 or lower. Do NOT use Bitcoin 0.8. If you're not mining, do nothing and wait for the all-clear. Running Bitcoin 0.8 as a node is fine so long as you're not mining. |
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I'm almost dumbfounded by the stupidity I witnessed in another thread which appears to have recently been deleted.
Basically, the other thread was created by a newbie claiming to offer a "Japolino" (I shit you not) that had been used for "15 days" for 5 BTC.
Unfortunately, this offer caught the attention of another newbie who was interested in purchasing it.
In response to this newbie's interest, I made some smart-ass comment along the lines of, "If you're going to just give your money away, please pick me instead."
To my utter astonishment, the reply I got was essentially, "Hey, I'm trying to make a deal here and I'm waiting for a response from the seller."
For the love of God, if you're new, please be more responsible with your money. And whoever you are that was interested in a "Japolino" for 5 BTC, maybe you're not ready for Bitcoin quite yet.
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Not only did Namecoin beat Novacoin in the race to .01/BTC. but so did Litecoin...
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I'm just saying if I can make 50 LTC(x.41 cents = $20USD) by solo mining then that is what i will be doing..
Today I made 10 cents for 3 hours work by joining ltcminingpool.org
Keep in mind that probabilities win out in the end. If you make ~10 cents per 3 hours at current difficulty/price, it will take you approximately 25 days on average to solo-mine another block. If the difficulty goes up, it will take even longer. Given infinite time, you should earn the same amount mining solo as you would mining through a pool. |
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I am interested, but 1.5 is a little steep for me  If you buy one from the Casascius website, it will cost you 1.5 BTC + the cost of shipping. If I recall, Casascius stated that he was keeping the premium on individual coins unchanged at .5 BTC extra. Molecular's offer was popular at 1.5 (and now, 1.48) BTC, and this current seller is offering an airtite case. It's a pretty good deal. |
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OK, I started mining in December 2012. I put together 6 radeon cards I had lying around, and have been chipping away my little measly .1x BTC per day. I was happy. But, I thought to myself: "With all those mega massive farmers out there, cranking 200 to (now) 4,500 TERA hash per second, whats my little rock hammer going to contribute compared to these other wrecking ball outfits? Am I just syphoning my shares off their profits and pissing all the big boys off? Is this a waste of time?"
Well, I have to say I was very pleased the other day when I logged on to my pool and looked at the rankings page. There I was, my little user ID, way at the bottom of the list. And... wait. Whats this? Could it be? YES! There it was: on the blocks found register - a "1" next to my user ID!
I found a block! Me! My little bitty , teany weany little rock hammer chipped off a bright,shiny gem!
So I was kind of lucky, but it is pretty cool to see that I at least got 1 for the pool so far.
So, to all you casual miners and newbies out there: Keep chipping away with your little rock hammers...
Congrats  |
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Hey guys,
So I recently installed the bitcoin-wallet, while waiting for the blockchain to finish synchronizing I foolishly sent myself BTC. I simply copy and pasted the address in my receive coins tab and sent a sizable amount of BTC to there. I read online that after synchronization the coins will appear, however the synchronization is finished and they have still yet to arrive.. I also viewed the tracking information for my receiving key and it says that no transactions are connected with my key. Do you guys have any idea of what may have happened? Is there any way that I would be able to recover my BTC?
Thanks!
Did you add a fee to the transaction? |
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Does your girlfriend have a Sweft point?
Edit: Thanks for the comedy gold on a sleepless night.
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The way I see it, if I can withdraw funds from my account such that the ACH transfer won't clear (and, subsequently, neither will the BTC purchase) then you can essentially play the same 'uncertainty game' that Coinbase plays and the whole thing becomes a non-issue aside from a little frustration. Actually, it could be an excellent way to prevent loss at times.
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I'm going to buy a bag of weed for you but I need the money up front. You'll see me again in 3, 4 or 5 days. Maybe a little longer.
When I get back to you, I don't have the weed but I do have your money. I used your pledge, and the pledges of others, so that I could buy a pound of weed and distribute it amongst my friends. If we keep doing this deal, sometimes you might get some weed.
For example, if I have $100 in my bank account and request to buy $90 of BTC, but afterwards I try to make a $20 purchase, will my $20 purchase be declined? That would be double spending, so I think they would be declined. Never experimented myself. I would like to know others' experiences with this. Anyone? |
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My first entry into Bitcoin made utilizing student loan funds. Was it risky? Oh yes. Was it worth it?  |
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+1 Evan He paid 1 BTC up front for a Radeon 5550. Excellent customer! I would gladly do business again. |
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I'm going to buy a bag of weed for you but I need the money up front. You'll see me again in 3, 4 or 5 days. Maybe a little longer.
When I get back to you, I don't have the weed but I do have your money. I used your pledge, and the pledges of others, so that I could buy a pound of weed and distribute it amongst my friends. If we keep doing this deal, sometimes you might get some weed.
Explain to me how this makes any sense when no funds ever leave the consumer's bank account at any point during the "pending" process. Here's my question: If you buy BTC but the price of BTC drops during the "pending" process, can you simply move funds out of your bank such that there wouldn't be enough funds to cover the wire transfer? Or are the funds "locked" as soon as the request to purchase is initiated? For example, if I have $100 in my bank account and request to buy $90 of BTC, but afterwards I try to make a $20 purchase, will my $20 purchase be declined? |
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@ Gweedo
Just so you know, that appraisal site you gave says Google.com is worth <$5000 and so is ABC.com.
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Mt. Gox is NOT the same as Bitcoin. Again, forget Mt. Gox (wow did they fall over tonight) - I'm mean to say: Nobody 'normal' will feel safe investing in a currency that's so vulnerable to volatility.. For the record: I don't give a damn, I'm sticking with this for the long run, better or worse. Volatility isn't an issue when there's a general up-trend. Look at Bitcoin's history to date - the safest move so far would have been to buy early and hold indefinitely. Gold has functioned similarly over the past 10 years and has been quite volatile itself having experienced 10% swings in days and 30% swings in weeks/months. It's interesting to note that although the value of gold has been referred to as "volatile," it is often described as such in relation to the dollar rather than on its own accord (i.e. the value of gold is determined relative to the "volatile" price of the US dollar). |
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5 posts plus (I think) 4 hours of "total time logged in." I also think you must be actively searching the forum in order to accrue time.
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After watching the general panic selling tonight one thing seems really clear - we are vulnerable as hell to the influence of giants like G.S.
They can buy cheap, dump high, catch it back at the bottom.. and they're experienced, they know how to do this over and over.
They can cause enough volatility that none of us will feel safe, the newbies will panic, the prices will sway around, no stability will cause colossal reputation problems with this fledgling currency.
Am I wrong here? This is David vs Golliath, except David is a newborn baby in this story.
Put a buy in for 10,000 BTC at .01 USD on Gox, then you're covered. And yeah, a billionaire could *temporarily* screw the market if he wanted to, but the most important thing to remember is this -- Mt. Gox is NOT the same as Bitcoin. |
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I love happy endings. Now we have two |
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Please send to:
1LPjzJKP8S6ugJLM6bubdxSwq17BhgJTk4
Thanks!
Done Received |
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