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haha the best comment:
"Don't believe everything you read on the Internet!" - Thomas Jefferson
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I was looking into hosting company today, to host mall.bitcoinmegamart.com
Flat out denied me, stating that they don't host bitcoin sites.
is there a valid reason for this? Now I want to host my 5 non bitcoin sites there and run cgminer.
Its because your not just hosting files, your running cgminer on their servers, this is CPU intensive and your server most likely has very limited CPU resources. I know Digital Ocean will not let you run mining software if you specifically request mining as the reasoning for allocating more Virtual Machines. Who gives a fuck really they should lose your business, just choose another site, I think I remember reading that some hosting providers even accept Bitcoin now. |
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He may of made it as a little side project just to have fun with or show his friends,
Or maybe he developed it to show off to huge multinational companies so he could make a profit.
But... Do you think satoshi expected bitcoin to have this much of a following?
One of my favorite Satoshi Quotes: "It might make sense just to get some in case it catches on. If enough people think the same way, that becomes a self fulfilling prophecy. Once it gets bootstrapped, there are so many applications if you could effortlessly pay a few cents to a website as easily as dropping coins in a vending machine." - Satoshi Nakamoto I think he very well knew what he was creating and the possibilities of this protocol. |
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Some lunchtime/bus home reading for today, I also heard that this author is working on a Blog article summarizing the paper. I will try to remember to update this post with a link to the blog article when it is published. |
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Maybe it means he has converted most his coins into Fiat in preparation of a significant price drop he believes is coming, so he can get more coins during the next dip.
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Sometime, then I lose my card or want to transfer money on Friday Night. Its infuriating not being able to access what is supposedly yours when we all know its technically possible. Also the simple fact that you have too entrust your funds to another entity to store it. Then they charge you 25 dollars for losing your card, or wanting to access my money in another place other than my bank. Or how about Online bank accounts are secured with a username and password (rofl)
Edit: Clarity
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Smart, something many of us have been advocating for a long time now.
There's a huge barrier to understanding bitcoin, in that, you need not possess a whole "1" bitcoin to actually have bitcoin.
By forcing people to bits it totally empowers bitcoin down to the 8th decimal.
I agree with you, the cost of purchasing 1 BTC deterred me for such a very long time, because of this I never did test/ or start too understand this technology and I regret it. When I read anything about Bitcoin or saw stuff about it in IRC, I always thought you could only purchase Coins in whole Units, this stopped me from buying any BTC because they were at 150+ dollars and that was a big investment for me too lose at the time. It was not until a friend got me to mine some Primecoin and a mess of other alts did I start to begin understanding the possibility of the Bitcoin protocol. |
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folks,
we are no longer the early adopters, those who keep saying we are early adopters are either in self denial/trying to mislead/unaware.
-early adopters(1st phase) are those, and when the majority population can buy thousands of btc without struggling.
bitcoin can no longer give the kind of returns like the earlier years.
one of misconceptions of early adoptors arises is because though we are in 2nd phase, btc returns can still easily beat returns from other investment avaliable in the market.
theres the last/3rd phase of bull run.
we are in the very early stage of 2nd phase.
you have no clue... not even 1%..... not even 0.1% of population has bitcoins.. so bitcoins is still very early. (100 years+ to go) This is very true, even now with ~1 Million users of Bitcoin approximated our 21 Million Coin limit is simply not enough to be spread evenly to all users, most people want to have more than 21 Units of something, most people don't want fractions. This is probably why some of the popular exchanges are trying to change the default currency display to "bits" or are now giving the option to use it. I don't agree with the Original posters assessment of the market currently. |
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I just made a Topic about this Blog article |
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Just noticed a new Article was posted by Coinbase, they are adding an optional "more user-friendly" display of BTC Unit We’ve just launched the ability to display bitcoin in “bits” - the smaller, more user-friendly version of bitcoin’s full BTC unit.
Since the dawn of time, a single Bitcoin has been divided into 8 decimal places - into 100,000,000 “Satoshis”. This means that one Satoshi is worth exactly 0.00000001 BTC - not exactly an easy number to deal with.
Recently, a proposal came up to move to “bits”. One bit (or µBTC) is worth 100 satoshis, which means that prices can easily be displayed using two decimal places, as most people are already used to. Another advantage is that bits can be easier to say and understand - for example, $1 USD is currently worth about 0.0017 BTC, or 1,700 bits.
If you want to enable this option on your Coinbase account, simply head over to your Settings page, and change the “Bitcoin units” option to BIT.
Source: http://blog.coinbase.com/post/89405189782/its-bitsI wonder if they will impose this as the default Unit for new Accounts and if this will be a default Unit for Purchasing on a merchants page who uses Coinbase. |
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Bitcoin is so vulnerable to a 51% attack. Ghash supposedly has 45% of hashing power, but what about the Unknown category? I am not willing to risk all my bitcoins because of a 51% attack.. I am converting to litecoin, which is being pumped now btw.. This article below explains what a 51% attack is and how you can prevent it. http://www.btcfeed.net/news/51-attack-explained/Section 11, Paragraph 1 - https://bitcoin.org/bitcoin.pdfWe consider the scenario of an attacker trying to generate an alternate chain faster than the honest
chain. Even if this is accomplished, it does not throw the system open to arbitrary changes, such
as creating value out of thin air or taking money that never belonged to the attacker. Nodes are
not going to accept an invalid transaction as payment, and honest nodes will never accept a block
containing them. An attacker can only try to change one of his own transactions to take back
money he recently spent. http://www.coindesk.com/ghash-io-never-launch-51-attack/ We Will Never Launch a 51% Attack Against Bitcoin |
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Curious whats going to happen to the Scrypt markets, also the effect of more Scrypt ASICS, most of the trading pairs seem to have been decimated along with Litecoin. Every position I have in LTC trading pairs is currently a loss, can't think too many people are ahead. I think I will wait until BTC's market cap starts setting some new records before trying to traverse through LTC.
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I think that alot of people on this board will become citizens of St. Kitts, 200k is not too big a deal for the benefits.
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I look forward to the future, I have a feeling that early adopters and general Bitcoin enthusiasts will be spending time in Las Vegas dropping coin. |
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How did you, and how long did it take you to get from your initial idea to actually being able to roll it out?
It's not his idea to begin with. He even mentions it in one of his posts here - Nick Zhabo (sp?) and the other guy who's name escapes me right now coz I need some sleep. Nick Szabo - http://en.wikipedia.org/wiki/Nick_Szabo |
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The attacker could only extend the chain 2 extra blocks per day over our honest chain. I was reading it would take several days worth of abusive hashing to reverse historical transactions thousands of blocks deep ( at 2 blocks per day), I think the miners in the attacking pool would notice something was wrong when they no longer are finding blocks for mulitple days straight. https://blockchain.info/pools?timespan=24hrs - Ghash.io is below 35% currently With that said, I still agree we need to do something so new miners can acquire coins. Mining is largely centralized and this proves it. I would sell coins because the price is spiking downward due to the mass coin auction of Silk Road Assets and newbie 51% attack fears. http://www.coindesk.com/ghash-io-never-launch-51-attack/ |
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Who asked you to theorize this protocol?
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