ON Now
What's that dam ticking noise? edit: postings.....stop! lol |
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If the same ratio to difficulty is maintained, the median forecast of:
847013
Would indeed require price to be at the 46 - 50 level.
Interesting times ahead.
You can not really count on that though. A large price jump can cause a sharp increase in Difficulty weeks later, even as price is correcting downward. So, to count on an increase in price to make up for fewer blocks is a bit of a double-bind. Don't count your chickens and all that... We would all be in a more profitable position, in terms of Bitcoins, if price rose at a slower rate. But as things are now it could be years before the state of the mining art catches up with the expectations of new miners. I totally expect a lot of miners will drop off by the end of next year, and a year after that there will be a new mining renaissance that will put this one to shame. I find your insights more interesting and thoughtful the more I read them. I've been leaning towards selling my BTC until I paid my rigs off but lately have been reconsidering. The more I learn about BTC the more I appreciate it. I can envision BTC being incredibly valuable but have a sense of great risk as well (Spidy sense!!). I don't need the cash and can pay the electric bill with my day job. I've heard a lot of numbers being bandied about regarding how long mining will continue....is there a definitive on this. 2 years.....20 years? |
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The people who got in early into bitcoin are the richest of them all. I bet they loved the exponential run up in BTC's price.
Yeah, it was easier for these folks to find blocks, but everyone seems to think that the price has been high. I'm sure the guys that started 6 months ago when BTC was < $1 were thinking long and hard about whether it was worth it too. I think the heaviest price you pay is all mental. Especially weeding through the negativity in order to get insight from knowledgeable folks. |
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Oh yeah!
Only the strong will survive. You, small miners better stop dreaming now. This mining hobby, job, thingy or what ever you wanna call it is not for the faint of heart.
At this point it seems to me it's best to hold onto your BTC and roll the dam dice!!! |
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Please tell me what "enormous risks" the finders of the first blocks took? Which cost them about half a million (current 'difficulty') times less computer power (and energy) than what newcomers have to compete for now?
Lots of time, work, and their own money. Especially for the people who spent the time coding it and setting up the initial networks. Really, the same risks that people like Bill Gates, Steve Jobs, and Eric Schmidt, along with their first few employees, took when they created their software revolutions. You forgot sleepless nights and nausea..... |
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seems like TradeHill is now under attack  They've been under routine maintenance. Did I miss something? |
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Thought about it, but pretty sure I am late to this party.
If the exchange rate rises with difficulty you may not be late. You may just want to buy BTC as you would invest in ounces of silver (I own both now). |
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i started since 2 week ago but i use nvidia and that'not good
Switch to ATI immediately. But you know this  |
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Domain name seizures is a major problem, That's why we need namecoin. This is good. What else can we decentralize? Is the real money maker on this the renewal fees down the road..... I looked at the namecoin wiki a few days ago and the guide was a little confusing. I read yesterday you can set this up now just like bitcoin mining? Is there a GUI? What's the process? Thx |
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I'd say it's a problem with his phase coil inducers. Rerouting power through his secondary transmogrifier manifold should do the trick. Worked last time it happened to me, at least.
How do I do that? Is that via software, or hardware modification? forget that. they are joking. your miner tells you that there is a hardware error. If you didn't overclock, then you have to RMA you card. If you did overclock, then go back to previous speed. Oh that's not nice...................................................( lol).............................................but kinda funny! |
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The security status of the exchanges is not helpful to build the needed confidence for bitcoin.
This is nothing against MtGox specifically, but to me all exchanges lack the minimum security measures that typical exchanges have.
Unless this is improved significantly, why would someone take the risk to invest significant funds? If at the same time he reads the DDOS attacks, password stalling, fund stealing... Strong efforts need to be made to provide at least standard security: I.e. transaction number verificaton per each trade, etc.
Sounds like Craigslist would be safer...... "Pay cash in person, bring laptop". |
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Well, the statement implies that Mt.Gox is down because it was "compromised", as far as I understand it is actually under DDoS attack ... if it's "compromised" what is the need for a DDoS to take it down? I don't know ... by whatever the case, it seems "Buttsec" doesn't have evil intentions  "ButtSec
Oh hai. We've gained access to some Bitcoin exchange sites. Obviously this includes Mt Gox, which is currently down. Hm wonder why?
Here at Buttsec we're fans of Bitcoin, but we must get the message out there that security is sorely lacking on many of the exchange sites! We will speak with some of these sites in the coming days. If your users aren't given answers, expect some information to make it to the public! ;-)
Yours truly, Buttsec
Bitcoin donations: 15gvHsFAq5RQaFSzUFQUCTCqAjrVoMjv2P
Twitter: @buttsecurity"
That's interesting. After explaining to my fiance what a DDOS was she asked why anyone would do that. I said one reason (among many) would be supporters who would try and point out obvious security flaws..... Seems everyone is starting to see the potential for much money to be made here and are putting the cart before the horse at the expense of security. Everyone needs to breathe deeply as this evolves....  |
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constantly getting failed to connect: retrying message on Ubuntu 11.04. Followed the guide around here.
poclbm connects normally. so I'm guessing I'm missing something...
Yeah, windows. |
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I suspect most people would say the same about a digital cryptocurrency.
The client can be set up literally in 20 seconds and you are ready to recieve cash, so even a hippie selling alpaca socks or a site selling beef jerky (just using forum examples) can start their business right away. negative. The client still needs to d/l the blockchain. This can be a game killer for a lot of users for some reason. Most of the people I've showed it to got impatient with the blockchain downloading and got upset and never did anything with it. LOL, some people! They should have just left it for the day to dl the block, and gone out (work, day out, whatever). I'm sure a McD's cheeseburger would work!!!! Fries with that? Hey, while you waited you block chain downloaded. $2.46 pelase. |
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My bank pays ME a fee to deposit my money with them..... Of course we are assuming the bank will not lend out the bitcoin right? Cuz they wouldn't do that....
We don't need banks. We need unix permission semantics. Sounds good. What is it?  |
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Hey Slush when you have time do you think you can implement a wallet lock option like BTCGUILD? If the address is changed it can't withdraw for 24hours and a notice is sent to the registered email. Could by some time for anyone that has a compromised account.
We definitely need this. |
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Cases like this one will lead to BTC banks managing the BTCs for the "normal joe". It is simply unrealistic to believe that the "normal joe" is willed and able to understand all steps to max the security for his wallet.dat. In the end we will have "BTC banks" that offer security and insurance like normal banks today.
Exactly. This would be the same with cash: You only keep smaller amounts in cash, because you realize that if they are stolen, it is very very unlikely you will ever get them back, even if the theif is caught. Aside from allinvain's most regrettable loss, this really does serve to remind everyone that there is an emerging demand for a bitcoin bank. You send your money to the bitcoin bank, which then holds and secures the funds for a fee. If the bank loses the money, although this should be just as hard as stealing from a real bank hopefully, then the money would be insured by a third party insurance company. Just like with "real" money. Imagine the paranoia of having to be responsible for keeping secure your entire savings in dollar bills under your bed. That goes for BTC too, and is why we need banks. What kind of bank would this be though? Why would I pay them a fee. My bank pays ME a fee to deposit my money with them..... Of course we are assuming the bank will not lend out the bitcoin right? Cuz they wouldn't do that.... |
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Im having trouble getting past the login screen, I put my username and password in and it tells me its wrong. I changed it just in case, and the new password doesnt work either. Ideas?
For clarification, are you talking about the website or the gui miner? |
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Im having trouble getting past the login screen, I put my username and password in and it tells me its wrong. I changed it just in case, and the new password doesnt work either. Ideas?
I assume you can log into your account online as you changed your password? Ddi you see a message that your IP is whitelisted? Did you go to whatismyip to very that's the correct ip that should be listed? On your gui miner, did you go to the Server dropdown box and choose other? In the host name did you type api.bitcoin.cz? And of course carefully typing your username and password? |
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