Savings are set aside for future use. Savings eventually have to be spent. You can't eat bitcoin. Bitcoin will be spent when needed.
Sure, people will spend their bitcoins eventually, once they've blown through all their USD. Unless they get another paycheck first. when the dollar have fallen, and the paychecks are in BTC. people will spend BTC on food. |
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I might give Gentoo a try... don't, gentoo uses a hell of a lot memory, becuase its compiling from source. it is not a good idea to run it in a vps. my offer still stands, i can fix it for you. for 2 btc/hour. but it should not require more then 30-45 min. |
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Yes, all the fanboys who have responded so far have correctly described what happened at Mt. Gox.
The one thing they neglected to mention is that there's no reason why "early adopters" of BitCoin (read: first in to the pyramid scheme / pump and dump) can't start selling their coin en masse and crash prices everywhere.
true, but when they does that, other people will get nearly free bitcoin. and after a few month to a year, the price will rise again. early adopters only have a limit amount of bitcoin. and not even half of the coins are release yet. |
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If Bitcoin is a currency with deflation property, that means BTC has to be appreciated (which in reality means BTC is a fancy collectible)
Therefore a rational BTC user will hold BTC rather than spend it.
but if no one spend BTC, then what's the point of such a currency?
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who can help me find out the fallacies in this reasoning? thank you!
eazy. if a rational BTC user, thinks that he can gain more by investing his btc into somthing, he will do. example: rational BTC user, comes up with a great idea: a shop! he buys 100 items for 10 BTC. each item has cost him 0.1 BTC then he sells them for 0.11 BTC each, which gives 11 BTC in total. see: a gain of 1 BTC. fast and eazy. |
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How did they manage to 'rollback fraudulent transactions' when they went outside the exchange or were those not?
they did not, people how did cashout at the crash, did get a negative balance, and mtgox absorbed the lost btc. they can absorb great losses, becuase they have a lot btc, because of the 0.65% fee. 'restored bitcoin value to $17.50' sounds a bit like manipulation to me. they did not restore the bitcoin value. they disabled trading for 24 hours, but did allow to place bids below 17.50 and asks above 17.50. then they resumed trading, and the price jumped to 14.00. then the price went up and down, a few times. |
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Hi there,
A while ago I came across Bitcoin and didn't really understand it. After some recent articles on the web I decided to have another look and seen a much more vibrant market so I decided to get involved.
The main reason I got involved was the fact that there was no central control. Finally, free from government meddling. However after reading about the handling of the recent hack and the theft of Bitcoins I'm now not seeing any difference between Bitcoins and tangible goods.
I'm not concerned about the hack and I'm not concerned about the theft both of those can be handled, There will always be weak points in security and even experienced IT people get hacked. Where money is involved it makes it more attractive. People should lose trust in the people who were hacked because they clearly were not looking after the system correctly.
The part that concerns me is the rollbacks and the adjustment of the Bitcoin value. This was purely to regain trust in their system and make them look good. This is no different from Government meddling in my book. Adjusting the price of Bitcoins, This means they could drop the price, buy Bitcoins then make it artificially high and sell them. This sound like control to me and I don't remember reading about this feature in the specifications. In addition did this rollback rollback other transactions not related to the theft?
I though Bitcoin was a way to avoid control and meddling. I'm not convinced it can work now which is a pity.
Or do I have the wrong take on the handling of this 'bank job'?
when you transfer your coins to an exchange the can do with them what they like, its your choice. they can't touch your bitcoin if they are in your privat wallet on your computer. the rollback was mtgox's decision, and they are right to do it, its after all thier exchange. if you don't like them, you can take your coins, and leave mtgox. no one is controlling you or your money, only yourself. |
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CentOS version 6.0 was announced and released on July 10th, 2011; I'd hardly call that old.  It runs a modern kernel version and very adequately supports every dependency of bitcoin. very often vps only support CentOS 5, sadly. Gentoo requires no more memory than any other operating system running an equivalent kernel and software payload, and any of their stage3 tarballs does indeed contain all the libraries that bitcoin depends on without any need for compilation or recompilation of anything existing or extra emerge --sync
emerge --update --deep world
uses much memory, and its needs to be runned some times, because of security upgrades. Debian, likewise, should have no trouble running bitcoind -- what is your experience with it? From a fresh installation, it is nothing that can't be solved within two minutes if bitcoind does actually not work it seems that, OP has already tried debian. it did not work. its likely to be an old version like CentOS. I don't mean to sound rude, but if these aren't working for you, you're doing it wrong oh. they work for me, on my own computers. but its not likely to work on a vps. in my experiences ubuntu works best in a vps. |
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Any other options?
yes, wire-transfer to mtgox. |
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Hei,
Jeg selger bitcoins i Grendlandsområde i Norge. Så vist du bor i nærheten og trenger bitcoins. Send PM.
hej, prøv også at poste på http://www.nordcoin.org/ |
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bitcoind's dependencies are very minimal
It should run on just about any proper Linux distribution, including all of the ones you mentioned
not the CentOs, it is likely to be very old-but-stable, and would therefor not work. Gentoo it not recommended, it requires too much memory, becuase it build anything from source. more memory -> bigger price Debian, we already tryed that one, it did not go well. fedora or opensuse, i don't know they might work. i recommend ubuntu, if its 10.04 LTS, or newer. Why don't you just use linuxcoin ? It's debian based and has the latest bitcoin software ? OMFG! it can't run in a vps, or at least it would require very much work to get it running. the problem with vps is that it is running in some kind of chroot-jail, it not your own machine like a VM is. its cheaper and a bit faster then a VM, but your control over it is more limited, than with a VM. you can't just slide in a cd and install/run from it. btw. your linuxcoin posts a beginning to be annoying, it can't be used for everything. and please read and understand the thread before posting (yes im an @$$ again) |
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Is there any plans or is it even possible to register other TLDs using namecoin? Otherwise, I don't see it as an opportunity in anyway.
What I would like to see is a plan on how Namecoin's supporters plan to get ordinary people to use their TLDs in conjunction with the global standard. There has to be a way to get millions of ordinary Internet users to favour namecoin TLDs to make namecoin mining worthwhile. make some very innovative service, like facebook or twitter. and put it on namecoin. or let it slowly adopted, like bitcoin. |
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Is there any plans or is it even possible to register other TLDs using namecoin?
yes i think so, but right now the only TLD used is .bit but the technology can handle more. there is also some patches to dns servers, so that they support the .bit TLD. see: http://dot-bit.org/HowToBrowseBitDomainsi don't know if it will survive but i would be happy to be an early adopter. |
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bitcoind's dependencies are very minimal
It should run on just about any proper Linux distribution, including all of the ones you mentioned
not the CentOs, it is likely to be very old-but-stable, and would therefor not work. Gentoo it not recommended, it requires too much memory, becuase it build anything from source. more memory -> bigger price Debian, we already tryed that one, it did not go well. fedora or opensuse, i don't know they might work. i recommend ubuntu, if its 10.04 LTS, or newer. |
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hi! im developing my own client, it will be highly configurable, and eazy to modify.
so my question is: would you use a service that offered non-standart transactions? (for a 1-3% fee + transaction fee)
like a webpage, where you did make you own script, and send it to me, and you then send some coins to me, i and did make the transaction happen. you could make password protected transactions, i know they are insecure, or puzzle transactions, or something else
or would you use a transaction-trapper, so you gets notified when your used coins gets re-spend? like tracking you coins?
mods: its likely to on the wrong board, but i did not know where else to put it.
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So, got access to the VPS control panel, and am thinking about installing a different OS. Below are my options. Can I be assured that bitcoind-0.3.24 would run on any of them? Or should I just start installing them and trying them out?
Gentoo
Debian 5.0
Ubuntu
CentOS
Fedora
OpenSuse
try ubuntu, it 'should' work. but be careful when you install a different OS, you will wipe your data. |
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Where can I learn how to find what is wrong with a computer that does not recognize a harddrive?
Google? "ubuntu harddisk not detected" |
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Do I need a harddrive to get an OS working?
no. |
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-1 for thread. Pointless discussion.
-1 for useless comment! |
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