It would be surprisingly messy to add this functionality to the client. You would have to store a modified transaction list locally and perhaps back it up with your wallet.dat file every time you restored a backed-up wallet.

If I did not like certain transactions appearing I would send some coin to another wallet file and using that one to make these transactions that you don't want to see in your main wallet client. Eventually the client will allow several different wallets to be open at the same time so this action would be easier to manage.



Ha! There is a name for this, interesting.

I have had this idea for a long time, but rather than your normal proof of work, the network takes input from the user paying the service to move data (each user pays several dollars a day, pay as you use style) and the network compensates all the nodes with a small fraction of that sum for moving data. Each internal connection a node helps make (between user A and user B) and for each byte a node moves from A to B is rewarded. So the proof of work is actual work for the network. This system could run on top of conventional internet hardware and over mesh networks. All working nodes get a small compensation for pushing data and connections.

So 100% of the space and computational work from the nodes (miners) would go towards the useful work needed for a TOR like network that would be very powerful. It works based on the greed incentive and people would have an incentive to create nodes all around the world. The large ISP's would become giant nodes, getting their money working as a node on the network, and wireless routers would eventually have the software on board so if they server data to a mesh user, they get a slight reward (that can even go towards paying for their own internet usage) (Basically everyone can be their own mini ISP by being a node) But other nodes will confirm the work and payments too, so no internet censorship or network shaping can happen (you pay for more bytes to go through and the more you pay the faster your internet is (because some high capacity nodes will be scarce compared to lower capacity nodes and market forces, blah blah) but a node can't disciminate based on the contents of the bytes, the encryption may be made in such a way that things are encrypted and keys sent through computationally proven paths that don't intersect with where the data is making anonymous internet a thing.

Anyway I wrote about it here https://bitcointalk.org/index.php?topic=274933.0

I made the assumption that it would be an entire new coin based around the POW being move bytes around the world. Instead of the current POW.

I still think the first coin that makes "being the internet infrastructure itself" as its proof of work will be the coin to supersede Bitcoin. But I am naive and probably wrong. And also if this is a better and more useful POW, then a Bitcoin hardfork is always possible.

Anyway, there are a million reasons why my idea doesn't work, maybe one day I can work them out? Probably not.

The code is so different to how Satoshi left it. Sure he would know a lot about it but not really enough to give himself an intellectual advantage over the system.

However his popularity and the authority he would command could be dangerous, especially if he rallied against Bitcoin. A lot of people would stay, but some might lose confidence.

The big danger is the amount of Bitcoins he holds, anywhere from 500,000 to 3,000,000. If he wanted he could carry out any type of market manipulation. You might see this as a non-issue, and I agree Satoshi is probably not going to destroy us, but he would then be the target for many Governments.

If Bitcoin rises to a trillion dollar economy, Satoshis stash will make him the richest person in the world. That is true absolute power, you can raise an army with that much "gold", look back at history. All the powers of today will want that gold and Satoshi will be at risk for his life and we will be at risk some power getting those coins and ruling the world.


If this is the case I will be really happy!


No need to rally us. I am sure we will all eventually help shape a bright Bitcoin future that changes the world. Hopefully we do not need to be in the top 1% of intelligence though, as I will be left out!


This will be sad, but its probably something that would happen. If Satoshi becomes known his image will be attacked if he turns out to be some smart lone hacker.



If they are the NSA, lets hope the crypto used is not compromised. If not then I don't see how they hope to hold back the monster they have created.

If Satoshi is a woman? That would be very awesome and would get a lot more girls into math and computer science. The sausage fest must end!

It has taken about 6 days for mine.

These will mine about 600 Bitcoins by the beginning of 2014.

To account for delays getting them delivered and all the chips running lets kick out the next 2 weeks and say just over 500 Bitcoins will be mined with 18 TH/s by the end of 2013.

Because this is a risk we want at least 2x return on our money and thus we have to account boards and power. Lets say the chips should be worth 25% - 35% of projected profits by years end.

So the absolute top price these are worth is around 150 Bitcoins or a total of $25,000 - $30,000 for both reels combined. Anymore and the risk for little gain is not worth it.

I have a feeling these are going to auction end a lot higher than $12,000 a reel.

Bid under 150 Bitcoins for both, sure, Bid over 150 and you are throwing our money away. it will never be made back factoring boards, other costs and delays.

EDIT: Although personally I would not go into any Bitcoin mining venture without expecting 10 - 20 times return as the risk is just so massive. I have already been burned by ActiveMining so I would prefer Ken either buy eASIC or return money to investors, please don't go near anything else with our money.

Is this true? He is free and out? (With a giant Bitcoin stash hidden away of course)

EDIT!

Sorry I got CoinLenders confused with Inputs.IO, my mistake!

Knight, I was under the impression you lost all the coins.

If you still have over 300,000 that makes you contender for top 3 spots of the Bitcoin wealth list.

I reckon Satoshi is higher than you!

This is what I was trying to say, said with fewer words.

The value of that Bitcoin in your wallet, you all want to know where that comes from? It comes from the ideals and foundations Satoshi laid down and that is the reason we all got into Bitcoin.

To come along and try to change Bitcoin to something else, a paypalcoin of sorts, will forever erode and destroy all value in Bitcoin.

Rimbit, if you can contact the guy I have a suggestion. Begging will only get him so far. I suggest that he moves back to Australia or wherever his place of residence is, and starts working. There is a lot of work over here. He can then send the money back to his family, the AUD is worth a lot compared to their local currency.

People do this everyday, they move from their families to earn money to send back home. Its time he took his meds, killed the freelance ego and started working in his families best interest.

Angelamerkel, a system like Bitcoin will eventually be the defacto currency for most crime and tax evasion. This we cannot help, as the reason criminals will flock to Bitcoin is the same reason we all flocked to Bitcoin. Power over our own money.

Similar to how nuclear research opened up doors in medicine and energy, it also allowed for the bomb. Any sufficiently powerful technology will be used for bad and good. If you want a Bitcoin that is only suited to the good, allowed activities then I am afraid Bitcoin is not for you. Satoshi gave us power, and power will be missused.

Eventually a GovCoin will emerge that satisfies the good guys ideals, and maybe that will be the right coin for you?

If Bitcoin takes off, tax, crime, freedom from the Government nanny managing your money, these things are going to be huge. Bitcoin cannot be so powerful without enabling all peoples, good and bad.

Bitcoin will eventually be used for terrorism, for tax evasion, money laundering. Eventually people will be tortured for their passwords, however Bitcoin will also be used for good, for sending money to friends and family, for conducting business.

Do I want criminals using Bitcoin? No, but its not my place to say they can't use Bitcoin. Thats what people mean when they say Bitcoin is neutral, it's power is derived from the fact all people can use it.

If you limit this power of freedom and try to turn Bitcoin into PaypalCoin, another coin will emerge in the power vaccum and your investment will hit zero.

If Bitcoin has a use for all people, good or bad, it will eventually come to change the world. For better or worse.

Also we are now 3 days from the end of November, and we are already meant to have the prototype chips.

I think we can assume eASIC have screwed up if we have no solid news soon.

Ken may publish a list, at the moment no list exists.

I have to agree with franky1, it might sound harsh but if they have the ability to cash out Bitcoins into food then I really doubt they are in such a bad place.

They have no friends or family to get fiat from? So bizarre.

Also it might sound cool to be an artist, but if the kids are a day away from starving then its time to suck the pride and get a job in retail or McDonalds. Begging comes after 500 resumes/CV's have been rejected for shit kicking jobs.

Anyway rimbit don't be deceptive, please add the reddit link.

I wonder why images of the miners are still unavailable?

I am sure they could fake a rig if they really wanted to...

That is kind of epic.

And why should we do anything? DPR either gave them up to law enforcement for a "deal" or he allowed the theft because of his crap security. My guess is he felt invincible and was super cocky, why does he need a strong password? He is the BOSS! No one is getting to the great world famous DPR!

I think he just screwed up completely, posting on Stackoverflow, probably some <12 letter password securing 144,000 Bitcoins.

I hope all the people here advocating a blacklist are trolling. Its probably telling how ineffective a blacklist will be because none of the core developers have bothered to post a serious reply.

Bitcoin works because we trust the math and the network, once we add a blacklist we now have to trust people again.  Angelamerkel, you keep saying we should not push our ideals onto you, however it is really you pushing your ideals onto us. We got involved with Bitcoin based on Satoshi's principles and the core feature is a network based on math and not having to trust people.

Your blacklist is actually against what Satoshi wanted and thus it is anti-bitcoin. I understand you want lots of power to block payments similar to paypal, so I suggest you create a clone of Bitcoin and set it up so that you can satisfy your ideals.

This is DPR's fault for giving over his coins or having a stupid weak password or allowing a keylogger onto his machine. Lets face the facts, DPR screwed up big time, he is so screwed. I wonder what his wallet password to $28 million was? Couldn't have been too difficult.

Also Bitcoins are not actually coins, did you know via taint analysis 98% of all Bitcoin users have a trace of the 10,000 bitcoin pizza transaction? Bitcoins are just numbers and if you blacklist a set amount of coins eventually they will spread all over the network (see via taint analysis how coins dilute into one another)

The blacklist would only work if 51% of the network agreed, and then we have paypalcoin.

Angelamerkel, we are forcing our views because the ideals you are against are the reason most of us got into Bitcoin, you don't want Bitcoin, you want paypalcoin.

Grab the Bitcoin source, add the blacklist system and announce it over in the alt-coin section. Cheers.

Bill Gates should buy them, he has already said that Bitcoin is cool and I would prefer Gates to win such an auction vs some dirty wall street pump and dump firm...

Well this security is in an odd place, a limbo of sorts. We cannot say that the ship has sunk just yet as we are waiting on the eASIC prototypes and have been for a while now. However we are now due for a update from Ken about the first prototype chips. According to Ken's past posts the chips are now due and if we do not hear anything about the prototype by November 1st we are in trouble. You most certainly will be right to call the company a sinking ship.


At this point I am so disheartened by the company and the seal of secrecy surrounding the product that I feel like selling out, but then I have to deal with selling at a loss and then losing a somewhat decent position if surprisingly good news is around the corner. I remind myself that I invested without doing enough research into the company, my research and number calculations come up with positive factors and I was also getting cocky with my investments [1] so I decided to take the plunge and take a position in ActiveMining and whilst the price kept decreasing I bought more and more expecting a return to previous highs.

My lesson from this is not to get cocky, if I read every single post that had been made about ActiveMining I may have made a different decision.

[1] - The month prior I was printing money from Just-Dice during a couple of weeks of incredible returns for the investor and from Labcoin.


From what I have read the chip is inferior to the other 28nm players, but I don't think its going to be that bad compared to the competition and if the production can begin as soon as possible taking a small percent of the network may be possible. Even if we maintain a couple of percent for a few weeks the faith in the company will be restored. That would be a good time to determine actual share value based on the hashrate at that point and anymore chips Ken can buy. Remember Ken being able to buy more chips at great speed is the main appeal of eASIC, once the first hurdles are over.

If the share price rises higher than my determined value I will make an exist and either buy lower when an inevitable correction occurs or stay out. Depending on the ability to continue adding more chips.


Yeah my situation is pretty bad, this is a mistake that I'm paying for. Early November is insanely crucial and I hope Ken does not screw it up.