Your "wallet" is "you", and your "addresses" are "one-time payment codes" to pay "you". These one-time payment codes could be reused to go to the same person, but it's really bad practice unless they explicitly request it
I wouldn't call them codes, it confuses things even more. And why would it be not recommended to re-use addresses, except for privacy reasons? |
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I propose "Reserve". The word has many applications, but one of them has to do with money and banks.
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I also made this mistake once. Hashing the hexadecimal representation rather than the binary, very very wrong.
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I like that you will use new algo. How will difficulty be calculated?
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Facepalm, gox down again.
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And my second argument about services?
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I have updated the code with block hashing to find a genesis block. If you need to specify custom nonce and unixtime(to re-create a block from some chain), you will have to edit the source. http://pastebin.com/nhuuV7y9 |
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Article fails to mention Satoshi and how he has even more money than these guys combined.
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It's dead, period. Unless you can name one service or exchange that accepts TBX.
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It's not zero consumption, Bitcoin needs computers which means power, when loading up a wallet it can easily eat up one core of your CPU for a few minutes. As the blockchain gets bigger and bigger and more transactions flow in and out of your wallet, which also gets bigger, the more time it will take to verify it's balance and as such it will require more processing power. When syncing from Block 0 to latest block, Bitcoin will consume more I/O operations and CPU cycles that you would otherwise use in a few months.
As such, it isn't very wrong to think what OP is saying.
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It's dead.
What is it? Is that "TRC" ? It's Tenebrix, really really old project with huge premine I think |
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it would be really good to only have jalapenos everywhere,
that would mean small miners will have a chance. Lemme guess; you're either from Europe, Oz, or you're an American Progressive... Amirite? Are you implying something here? |
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Where can I get the mtgox.scid file?
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So let me see if I understand, 1 Module == 10 chips, right? 1 module = ~2.8GH/s and will cost 80 euro to assemble?
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Yes, theoretically it is possible, practically they need to negotiate probably with these exchanges (it might look like a HUGE bot and maybe even a DOS attack to the exchange) and also they need to verify accounts I guess. Also they need a trading bot for these additional exchanges in the background that needs to be tested/verified. This takes time on both Bitfinex' (code changes) and the exchange's (verification) side. They wanted to announce something soon(tm), so I guess there will be at least another alternative to MtGox in the making - I hope for Bitstamp because that would allow me to withdraw to Ripple via a few steps.  Offtopic, but what can you even use XRP for? |
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The question is serious. I still don't understand how or why you would use it, where you can use it etc.
There are two purposes for ripples:* 1 - Use them to move debt around just like banks do, so you can take part in "real" finance and literally be your own bank. 2 - Exchange your Bitcoins for more ripples to move more debt around. You buy more from (opencoin)+(users that got free ripples) selling them on the open market, I think its a "sell as many ripples for Bitcoins as we can before people find out and stop buying these closed source premined coins for extreme prices" type of deal. Everyone who gets their free ripples thinks they are a winner, the real winner is opencoin who hold over a million Bitcoins worth of these ripples that they generated and exist solely in a closed source network. I continue to congratulate Opencoin. Good job on getting suckers to give you free Bitcoins, I wish I was as smart as you! *I admit there is a 0.01% chance I am wrong and opencoin isn't a Bitcoin land grab scam. (You have to admit its rather weird that the main activity taking place on the closed source centralized ripples network is people exchanging ripple for Bitcoins.) Debt of what? Debt to who? As far as I'm concerned, I don't owe anyone anything. |
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So for the average (non-ASIC owner) miner, what does this mean?
It means GPU miners will be pushed out of BitCoin mining....Unless the extreme difficulty leads to each BitCoin being worth alot more (1,000 USD per BitCoin by summer). If that happens, then expect the "new normal" to be people buying BitCoins in fractions up 8 decimal places. Personally I think people should focus on storing and increasing their current BitCoin Stockpiles. If you do, it may very well keep you padded with enough cash to transition to the next generation of ASIC's. Maybe... I'll be doing this, yes. But unfortunately not much. And the current price of ASICs is waaay overblown considering how much the difficulty will rise in one or two retargets. I can tell you right now, working 10 years every day of my life I still won't have even 50k. What's happening right now, is that only the elite will mine Bitcoin. |
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So for the average (non-ASIC owner) miner, what does this mean?
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Is there a way for BFX to be extended to work with say Bitstamp or BTC-e?
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