Is it true that Satoshi never foresaw pooled mining? Did he ever comment on the fact that there will eventually only be a handful of miners in the world?
I don't believe that he did, it's kind of crazy when you think about it. It undermines the purpose and motivations of creating Bitcoin. If you don't actually care about decentralized cryptocurrency, why are you doing anything with Bitcoin in the first place? ... Because it's profitable, but that were so obvious it would have been created long before Satoshi did. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) With a little more foresight, Satoshi could have both foreseen pooled mining and possibility of using the same consensus algorithm to decenteralize pooled mining (e.g. P2Pool) and perhaps the symmetry would have been broken differently, large centralized pools might not have arisen, and the world might be a very different place now. Alas. Could you give me a idea what would work?
See: " POW which involves queries against the UTXO set" A whole bunch of variations are possible, but the general idea is to use the state you're mining against to make a deterministic random selection in a normative UTXO set, and then hash the result and thats your POW. So your mining hardware would be boards of ultra fast flash memory coupled with sha256 fpgas or something instead of SHA256 chips. It's a kind of memory hard POW. do you think this could be an innovation in CC's, forced decentralized mining, or does sunnykings proof of stake give another out?
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How many people think GOX is running a fractional reserve in BTC and/or USD
and for that matter at and other exchange eg BTC-e
Also while I am at it I don't get why GOX can take money in but not get it out???
last I recall I heard that gox put a 2 week stop on USD withdrawal but now it seems it's back sorta permanently???
whats going one here?
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Got error 157 'Unknown error code' from NDBCLUSTER
when trying to check sigs on blockchain.info.....
is this deliberate!!!!
while this is sorted out
blockchain.info has been sort of offline, for over 5 hrs already. Moreover blockexplorer.com has also been stopped - somewhere yesterday. hmm deliberate but surley bitcoind can do this as well. a program tha compares sigs must be able to run through and auto check
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Got error 157 'Unknown error code' from NDBCLUSTER
when trying to check sigs on blockchain.info.....
is this deliberate!!!!
while this is sorted out
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courts love to find they have jurisdiction, it gives them more power. It takes legislation to cut back the courts power, which now only happens when the court trammel rich corporate interests that can lobby for the legislation.
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bitnode says less than 200,000 nodes are in the world. This is the most depressing thing I have heard in a long time.
I expected several million active nodes at least.
200000 are quite a lot considering, I mean how many companies/govs/banks can afford 200K backups of the same data
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Bump Heading east on 12th Sept Be good to have a meetup before I have a couple of spare hats, t-shirts and keyrings I'll bring along if anyone would like to purchase ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) suggest a date I will put it in the top of the thread, I also will be going east, but a bit earlier, so I probably can't make the next one, I would however like to get some bit-coin merchandise
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so is xpm being pool mined/bot mined now
no solo's anymore ?
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I think the whole AUD operation is separate from the USD situation, is it all flowing well? Was AUD wire ever shut down.
NO. International bank transfers with Gox are generally slow. Very slow. But if you want to sell bitcoins and can wait, then Gox is a very good alternative. Plan two months. Withdarawl no more than 999 in your auxiliary currency. Never make parallel withdrawals. Don't contact the support.I use SEPA for a year without problems. My last withdrawal is from the 24 July. I expect it at the end of this month on my savings account. I charged this way a lot from Gox. I therefore never contact the Gox support. The money is guaranteed. But it takes. You have to wait. If you are dependent on the money, it is of course a real problem. But for me Bitcoin is only an experiment. I expect nothing and I'm pleased if something positiv happens. Do not be infected by the impatience and greed of all the idiots here. They have also sold three weeks ago with a reduction on Bitstamp. And look where the course is now! All these alarmists simply have no idea. They just burn money and blame other people for their own stupidity. Sell on Gox and wait. IBAN = International wire as I understand it , sepa i don't know if it can be used to aud accounts I dont quite understand this can you clarify??? Withdarawl no more than 999 in your auxiliary currency. Never make parallel withdrawals. Don't contact the support.
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As promised (but a few days late): ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fanonymouse.org%2Fcgi-bin%2Fanon-www.cgi%2Fhttp%3A%2F%2Fanonymouse.org%2Fcgi-bin%2Fanon-www.cgi%2Fhttp%3A%2F%2Fimg692.imageshack.us%2Fimg692%2F606%2Fr5mm.png&t=663&c=FYFDLny_jbDqbg) Downtrend in new members continues (we had some spikes, yes... But nothing really changed) Nuber of posts is stabelizing, downttrend seems to be slowing down. edit: all the charts are here availible: https://bitcointalk.org/index.php?topic=232865.0but is this correlation causal and still valid, eg are VC/institutional investors rather than individuals starting to do things with BTC, that would not show up as a volume of new posters/members?
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hi fellow AUD's
any one with any experience in dealing with gox for wire transfer to GOX in AUD
and
repatriation of AUD from GOX to a AUD account
as to time it took, cost general hassle
I think the whole AUD operation is separate from the USD situation, is it all flowing well? Was AUD wire ever shut down.
I know gox had BSB and AUD account numbers the the costs are way high, and I thin that service is gone now
also I don't care about that whateveriswascash they used to use, way to high costs.
any info appreciated
Thanks in advance
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why don't we start up a ripple AC coin ledger as well....!
it records every transaction we make what for what....
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People should stop dreaming about 10,000 $ / BTC anytime soon. 1,000 $ is possible in 2014 during a bubble spike, but after that the spikes will grow slower, something like 2,000 in 2015, 3,000 in 2016, and 4,000 in 2017.
why would the spikes grow slower? growth should be exponential, no? which would mean the bubble will get closer and closer together, pretty soon a bubble pop will be immediately followed by another bubble! I agree with this, if anything the btc environment is speeding up, on slowing down, exponentially
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the amount of money it costs to get the licenses alone, lawyers fees, etc etc, IT costs etc, I think would be well over $3m.
you need to throw about $50 mill at this, or be an entrenched player like gox and maybe btce who has cash flow to throw money at this as it goes along.
I mean look at vircurex, they raised 8K BTC at 20% valuation I think, and that let them do very little.
I mean good luck to you, but it seems you need a lot more capital,
Also Ripples bridge may have beaten you to it....
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To all those who are salivating at the thought of the fall of USD, when and if the USD falls, then it will be replaced by Chinese Renminbi. When and if that time comes, you will be sucking the China man's dick.
Couldn't happen to soon. Being the worlds super-power with troop garrisoned all over the world is provoking a lot of corruption or our original principles as a nation. After the legacy of death squads, 'signature' drone strikes, Abu Ghriab, etc, a person would have to be a complete imbecile to buy the BS about our 'spreading freedom' or whatever. It can be legitimately argued that our empire provides 1/4 of the world resources to 'us', but the spoils of war are increasingly mal-distributed so more and more it's the trailer trash that does the dying and the Wall street types that do the wealth accumulation. As a nation we've got great resources and infrastructure within our borders, and lack a lot of the problems that the Chinese have (especially overpopulation.) We have the potential to provide a decent quality of life for all of our citizens, or those who will do the bare minimum to participate at least, so I don't fear a fall from our lofty current situation. There will certainly be an internal struggle to see what class shoulders what percentage of the reduction in inputs (hence ballooning police state apparatus) which is my main concern. I have pretty close to zero concern about some Chinese guy showing up on the coast and making me suck his dick. Some honky from Washington DC doing so is a vastly bigger threat to me. However the US has done one thing, it has shown restraint when it had and has now vast nuclear advantage. I wonder what other countries with such and advantage would show the same restraint
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but remember so called "hybrid wallets" can have faked up send addresses, if you send money through their service it all goes to a different address to the one you thought is was going through
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To answer your question, banks will be obsolete. As every individual is in control of their own economy there is no need for banks.
Bankers are not going to sit there and let themselves be obsolete any more than solar power will make Exxon Mobil and Big Oil obsolete. They aren't doing down without a fight and they have VERY deep pockets for their war chest. but deep pockets of what, well essentially, fiat (paper) and state backing/license which relies on enforceable tax. Bitcoin attacks both of these squarely, particularly when married up with zero coin or something similar.
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blah cheap and secure method.. 1.) truecrypt with a long pass phrase. http://www.truecrypt.org/2.) cheap usb stick create a secure container and drop the wallet.dat file in there and keep in a secure place in your house offline. 3.) create a gmail account with 2 factor id and upload the secure container file to the cloud (in case something happens to the usb stick) . 4.) be happy ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) when you need to transfer coins download or use the usb stick unencrypte the container and copy /paste the wallet.dat into bitcoin.qt (or what ever you use) do the transaction and then delete the wallet.dat when done. this good strategy. have multiple forms everywhere
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