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Trades on Gox (where the 'speculators') live don't show up in that stat at all.
I've made over 6000 'real' bitcoin transactions.
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I saw some of the MO damage. Tornadoes are insane.
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Suppose my some magic you could get the space of hashes for the last block down to 100. You'd have to do 100x as much work as everyone else.
But really you can't narrow the space in any meaningful way whatsoever. Not only do you not know the details of the inputs of the previous block, you don't know who will find it or where they will start looking in terms of nonce.
Yes you would have more work, but you would also get more time than other people to do it in (you can start ahead of time). If you find a match now, with a timestamp in the future, you'll just be storing it for use in case that hash ever comes up. In fact, if you can find suitable 217 byte matches for each of the last 100 hashes (and you can start this now if you pick a good date), can't you just pull them out of the bag within seconds of each other in 2020 ? However, I'm convinced by the argument that the bandwidth benefits of skipping transactions are worth it if you have a botnet, so perhaps I'm thinking too hard about the possibility of someone having a cheat rather than a botnet. On another note, do we know if the mystery miner just looks as if he does more empty blocks, because he has enormous hashing power so gets there before there are any transactions, and because the empty blocks are easier to spot ? (put another way, are there full tx blocks coming from the same IPs as he uses as well as empty blocks) You can't get it down to 100 or 1000 or 100000000. You'll have to do more than 1000000000000x more work, so the amount of time you have doesn't matter at all. |
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I really like FirstBits... but it's fatal flaw, especially with regard to newcomers, is the requirement that the address exists in the blockchain. If there is anyway to overcome this, PLEASE make it happen. Also, the ease of making a QR code by appending /qr is a killer feature of btc.to. If this can be replicated, this needs to happen too.
But this endeavour, at least while people are still learning *everything* about Bitcoin, the firehose of information needs to be turned down a bit so the noobs are not overwhelmed.
edit:
I'm not advising girls to NOT use first bits... but they can adopt this after they've picked up the basics. For /r/girlsgonebitcoin though, I think it's in our best interest to promote btc.to until they get firstbits on their own.
There is a solution, not that hard! Just need an instawallet clone that sends a satoshi (using SendMany for low fees) to addresses in advance of giving them out. |
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Nooo, they have to use firstbits. Just tell them to go to a faucet.
edit: really this is important. firstbits on skin is awesome sexy perfect. web address is not.
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I like it very much. It's a pretty flexible tactic.
"Oh, no I can't let you do X for free, let me pay you."
"Well, I can always use more Bitcoins."
"Bitcoins?"
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Are you really sending wires for very small amounts? I would think giving the option of Bitcoins at market value or MtGox dollar code would be vastly superior in terms of cost and ease.
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Someone correct me if I'm wrong, but pruning is just the act of a miner forgetting something they don't need to know anymore. The tx will still have happened and still be in the chain and any service doing lookups of hashes of documents for the purpose of time stamping will be smart enough to not prune. Or maybe you can mark it in some way that lets timestamp checking services forget everything else and remember only the non-financial tx.
If people are worried about the size of the chain, maybe a way to do it is for a company to accumulate documents to be stamped, hash them all together and just include 1 hash per block/hour/day.
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No it isn't. The point is nobody could buy all the gold or all the corn or all the bitcoins.
Not without forced "sales" using military force. Even if I were to liquidate 99.99% of my bitcoins I would still hang on to a few so he wouldn't get all of them.
Point taken. But again, if someone could get their hands on all the BTC, then BTC became useless. But not with corn (and other goods you mentioned); most of the world (certainly the whole US) is corn fed, down to the corn-sirup. What on earth would you do with all the corn? Spread it around to other people immediately? |
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No it isn't. The point is nobody could buy all the gold or all the corn or all the bitcoins.
Not without forced "sales" using military force. Even if I were to liquidate 99.99% of my bitcoins I would still hang on to a few so he wouldn't get all of them.
Why 99.99%? He's paying whatever you want. Sell half or 1% for more riches than you can every use. |
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What is someone bought all the gold? or oil? or electricity? or corn?
That's different. We need gold, oil, electricity (highly correlated to oil, let's call it energy), corn, even gold to some extent (and we want it). But Bitcoin has no corporal value, it has value because we believe in it and agree on its value (agree not as in fixing prices but set by the market). One person would be pretty stupid to buy all the BTC, he/she would just be competing against themself, and everyone else would move on to create a new block-chain. That really not likely since the next block would be worth about infinity * 50 / existing coins. It would be the most solid secure valuable block chain based currency even imaginable. |
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He'd be totally screwed because as I sell my 104th to last coin I'll have such vast riches that he'll have to make high level physics breakthroughs and sell me trips to the past or distant galaxies in order to get more.
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One thing that might change over these tx fee discussions is the network topology:
One large network has pros and cons, and suppose the fee on the 'large' global BTC network is comparably large, and the tx processing becoming slow (as mining rewards will continue to be much more profitable than transactions for a while). A large global enterprise with a sufficient number of customers (like Facebook, Google, Amazon) decided to use BTC at some point, they could make transactions between users fast and without fees. Only going outside of their network to the open P2P BTC network would require high fees to get processed in time. That's comparable to international wire transfers vs. PayPal's internal payments. I see no reason why this shouldn't happen with bitcoin. I see the ad for BitPal: "Sign up to be a member of our xyz BTC community, that has thousands of members and transfer bitcoins quickly without fee". While the global BTC backbone mines primarily for coins and only concerns itself with large, expensive transactions. It really feels so contrary to the open concept of bitcoin, but I see that as a possible option at some point.
I think you are right, except that it isn't contrary to the spirit of freedom. It costs what it costs to use bitcoin, very low now, likely more later. But anyone can get access by paying only the legitimate costs, no licenses, permissions etc. In addition to BitPalish companies any WOT of any kind that springs up will be able to save fees too. Be it as small as my family or a large Bitcoin OTC style thing or Hawala. |
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I can't access sealswithclubs.org, it directs me to an https site with the certificate signed for sealswithclubs.eu; is this legit?
Yes, it is legit. Very sorry, I should have posted a notice about this. It isn't as smooth as I expected. We are moving to .eu and .org and .com will redirect to .eu. |
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Gavin, how does it feel to have the fate of millions of dollars of other people's money riding on every release? I don't think people appreciate your diligence enough.
Do you load up million dollar wallets in brand new releases? Others don't either. |
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Why *EVEN HOURS* has rake 7.2% but not 5% as other tourneys without bonuses?
That's a good question. I'll fix it now. It'll be 250+10. |
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I just checked, one of my instawallets that I've only funded from another instawallet does not have it's address in the chain.
Letting the user choose is pretty important as it can cause confusion or prevent the normal verifying of payments.
Suppose you and your recipient are both using instawallet and the recipiant loses access, you cannot prove you actually paid. Or the recipient is a jerk, and sees the tx isn't visible and claims it never came.
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Unless you check the Open Transaction box on the withdrawal screen, if the address you enter is connected to another MtGox account, it will be deposited into that account instantly and without hitting the blockchain. If you have a transaction that needs to be public, always check that box just in case the receiver is using a MtGox address.
Instawallet does the same thing, minus giving you the option to put it on the chain. Actually, now I'm not sure, maybe it's just that it puts them on the chain and accepts them with 0 confirms. |
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uhh, because MtGox does fractional reserve banking?
I thought it was because Mark likes salmon? |
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I should change my example uses of firstbits. Good for remembering and saying your address over the phone, and writing them on your naked body to solicit donations.
Something to remember is that a typo means the coins are gone. Make sure it is very legible and no one could misinterpret it.
Someone should really make a wallet that has built in vanity firstbits generation for a nominal fee.
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