Holy crap.. (brain-gasm) ...I just got schooled!

I actually did understand that...and now I do have a better understanding of Bitcoin.

I also see, now, that I have yet much to learn.
..wax on ..wax off?

Thank you DannyHamilton.

Hi all,

I've been working on this new marketplace for bitcoin goods and services.

btclist.com

Its a place to list ads for selling or buying items,services, or bitcoins, sort of like craigerslist. (yes i know i misspelled it)

Please visit and let me know if theres something that can be improved.  Check out the About and FAQ page.

Any feedback would be greatly appreciated.

-shaded
btclist.com

Once your service grows will you consider an IPO?

..Will you offer shares in Heaven,Paradise,Valhalla, or Sto-Vo-Kor?

-shaded

I like the ideas being presented here.

Maybe I can piece together an alpha but there will still be a manual component to it.

Keep the ideas coming.

-Shaded

I can haz bitcoin?

-Shad3d

ha!....well played, sir.

-shad3d

you can also try this site...btclist.com

its like a craigslist... but for bitcoin

-shad3d

Great job!

I've been using Krad miner for about a week now and it works perfectly on my Windows 7 64bit ulitmate. I have a ati radeon 5570 1GB vid card happily working while I browse the internet on other tabs.

One quick question...do we need to have the bitcoin client open during mining?

Thanks.

-shad3d

btclist.com

-post. meet. trade

Hey guys,just wanted to announce a new website for meeting local bitcoin merchants and traders. I would
appreciate any feedback on how to improve it or any bugs found.

check it out --> btclist.com

Website is now live.

Thanks

-shad3d

Hi,

Just wondering, can the network invalidate and throw out a transaction if a) the receiving address does not exist... or b) existed but was modified in say ...the last 30 minutes?

Is there a mechanism to warn the client about this or to redirect(bounce back intact so nothing is lost) the transaction back to the client if the transaction is unsuccessful?

Any info would be appreciated.

-Shad3d

Here's what I did on my machine, Windows 7 64-bit:

1.  Download new client.
2.  Exit any miners you have running.(if you have any)
3.  Exit Bitcoin client (if you have it running).
4.  Search your hard drive for our wallet.dat file.
5. Copy your wallet.dat file to a USB thumbdrive. (Keep this secure as backup)

6.  Install new client from your download area.
7. Run new client.(verify its running ok)
8. Exit new client.

9. Search your hard drive for the new wallet.dat file.
10. Replace the new wallet.dat with the usb wallet.dat by overwriting it or deleting the new and copying old into its place.
11. Restart new client and verify addresses and amounts.
11.5 Restart miners( if  you have any)

12. Profit!!! and lots of  it.

-Shad3d

Yes and no. Yes you can sell at any time under any circumstances....if.... you can find a buyer for what your selling.  you can sell rocks if you can find a buyer (rock crushing company).
 No you cant sell at any time under any circumstances...if...no one wants to buy rocks...... so if you want liquidity (converting something into easily spendable cash at any time) you first need to find a buyer for your rocks (bitcoins) that will pay you in the cash you want to use (euros, usd, chickens, whatever).

Example: You can't trade Euros(e.u.) for Pesos(mx) in Antartica..because no one there uses pesos for currency.
So..to sell find someone who wants to buy.

This is the risk to all economies. You can never be sure that you can trade for what you want, when you want to do it...unless you find other people willing to do the same(in a large audience or market).

Ever try selling coconuts on a small deserted island where you are are the only person around for hundreds of miles?...yeah.. not much profit.

Thank you.

I've been looking for something like this for a while now.

I'm also interested in a make-your-own pool guide.

Keep up the good work.

-Shad3d

The rate comes from whomever wants to trade them... if you want to trade you set the rate.. i want 1oo usd for 1 of my bitcoins.... that sort of thing.

There is a subject that they teach in schools that explains all this.. its called 'Economics'.

1. You dont get money from mining... you get Bitcoins..which you can then exchange for money, from an Exchange House like MtGox or you can exchange Bitcoins with other users for goods or services that they sell.

1.5. Money only appears after you give someone your Bitcoins and they give you currency.

2. The profit comes from the exchange rate the Exchange House will buy your Bitcoins for. Example: User A wants to buy 1 Bitcoin for 10 Euros. User B wants to buy 1 Bitcoin for 15 Euros. If you exchange(sell) your Bitcoin to User B you make 5 more Euros over User A and if you calculate for how much you sold the Bitcoin minus the electricity cost your computer used and other expoenses (internet,video card,purpose built hardware) ...the thing left over, thats your profit.

3. The Bitcoin itself is not a touchable Thing.. its an idea. That idea is signed with a mathematical hash and that hash is what people are trading around because it represents the time and effort it took to calculate that hash.  They are exchanging the value of that time and effort.

4. How much is your time and effort, to do something, worth?

-Shad3d

I think we are still at the toddler stage... lots of minors(pun)..not enough market sales.

Once BitCoin is more widely accepted for goods and services, I think we'll be in the early pre-teens..right now we are in the terrible twos.

-Shad3d

Yes.

You're not seeing that mining for profit is beginning to yield less and less benefit at xxx Mh/s.  With the difficulty increases we've seen lately soon you'll need x Gh/s capacity to get a decent daily return. Pool mining returns are also beginning to decline.

Perhaps trading bitcoins or being a bitcoin accepting vendor may yield more profit.  Either way I wish you the best.

-Shad3d

..and until then.. better get busy mining / selling/ buying bitcoins.

-Shad3d

The biggest problem facing BTC right now is... 
1. That it's relatively new and...
2. It has very limited market acceptance.

As with all things new, most people mistrust, don't understand, and may be down right scared of it. This leads directly into the limited marketplace problem.

-Shad3d

Wow KS,

Thank you. You explained away some of my concerns beautifully.

-Shad3d