Anything that causes it to be harder to move cash in or out of the Bitcoin exchanges is a negative which puts downward pressure on the exchange rate.
I'm not convinced. If Bitcoin demanders have a low elasticity of demand then their difficulty in getting it will push the price up. Now, I'm not talking about the price showing on a Paxum/BTC exchange, obviously that price has to fall, but now that people can't get it via Paxum they move to the perfectmoney/BTC exchange or they decide to pay me enough to get off of the couch and meet them. Maybe I'm missing something, but it seems the effect is mixed. It'll always be hard to tell because when they really start cracking down will correlate in a few ways to a real demand explosion. |
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It seems like you are saying miners will have 0 pricing power, is that right?
Miners can have pricing power as long as anyone cares about the likelihood of their tx being included within X blocks. If a sender insists on a >95% chance of his tx being included in the block then any pool or miner with 5% or more hashing power can charge whatever they like. If a sender wants a 99% guarantee of getting in the next 2 blocks he must pay more than the cheapest 90% of mining power requires. This is because if he pays less than the fee required by more than 10% of the network he won't get his 100-(p^2) chance.
Besides all of this we've got decades with a non trivial subsidy.
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bitcoin is a disruptive technology, it's growth rate should resemble something like "singularity"  Seriously, by the year end half of the 21m coins will have been issued, there will be stronger headwind for future growth, 100% YOY growth won't cut it. That is your unsupported opinion. Personally I think anything higher than 100% YOY growth is improbable given the early stage of Bitcoin's existence. It's not improbable at all. Faster growth happens every single time something goes from not existing to being large. The forum had way more than 100% YOY growth the year before. But this is a just forum about Bitcoin. When Bitcoin is the only money used anywhere the vast majority of people will not talk or think about it. It used to be that every bitcoiner used the bitcoin.org forum regularly I'd bet it's 10-20% now. |
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It's hard for me to tell what this sort of thing should do. If it's harder to get coins you ought be more reluctant to give up what you've got, right? But if it's harder for others to get started it will lower demand. But on the third hand, if it's hard to get them in 'formal' ways then people might pay extra when they find someone who can supply, so maybe you can charge more for them if you do mine or earn them.
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In addition to the two weekly 15BTC tournaments for the top 30 each week there will be a 100BTC tournament on March 4th open to all, but free for the top 30 of the month.
The action has been growing the last few days, there are two full tables right now.
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This is probably their way of getting in on the item resale market themselves. I would anticipate that soon there will be items that can only be bought, not won in the game, $5 for the shield of unholy ass-guarding.
I think that's a mistake. If the only way to get it is to pay $5 then it's a $5 item and everyone knows it. But if there is a .0001% chance it gets dropped by some tough enemy then it's an awesome rare item that you can have for $5. |
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Hello FreeMoney,
At the moment the version of bitcoinj MultiBit uses does not rebroadcast. The best thing for your customer to do is:
1) Do a 'reset blockchain and transactions'. (This menu option is now in the 'Tools' menu). This will sync the wallet to what is on the blockchain. I.e. the untransmitted transaction will disappear.
2) Send the transaction again.
I always leave MultiBit open until the first confirmation comes in but that is not strictly necessary.
The version of bitcoinj that MultiBit is using is now a bit out of date and I know they have made various improvements to the peer functionality. I expect to be updating this in the next couple of weeks so this should improve things.
Thanks. |
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Technical explanation:
When you create a block, the coinbase transaction which generates 50 BTC can easily be made to exactly equal a past coinbase transaction: it just needs to pay out to the same address and have the same (arbitrary) scriptSig. Unfortunately, this transaction will then have the exact same hash as another transaction in the chain. Satoshi did not anticipate this, so it's allowed by the protocol and it confuses the Bitcoin code.
In this case, roconnor:
- Generated a block containing a normal coinbase transaction.
- Spend the BTC generated in the coinbase transaction. Bitcoin nodes mark the coinbase transaction's output as spent.
- Created a block containing a duplicate of the first coinbase transaction. Bitcoin nodes will now overwrite the first coinbase transaction in the transaction database. The output of the coinbase transaction is marked as unspent. The transaction spending the original coinbase output is not affected and is still considered valid.
- Spent the BTC generated in the second coinbase. There are now two transactions spending the "same" output.
Do you lose the original if it isn't spent when you make the new identical one? Because when you spend either now it'll be marked as spent? |
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But a post in a thread shouldnt Force me to Wait 20seconds untill im allowed to send a PM, I think this is a bug, A minor one, But lately it's been bugging me, having to retype a whole pm can be annoying
Did you press the back button? I think the message will be there, maybe it is browser dependent I dunno. But also how much did you type in <20 sec. Oh.. you could have an epic PM written in another window and just happen to send it right after posting elsewhere. |
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Do you expect high fraud still? Or is the 10% mostly for your time?
the 10% covers my cost, my time, and the risk involved. I should charge alot more, but I'm trying to make it convenient for people to get started with small amounts of bitcoins, so they can see what its all about. Nice 10% isn't bad on a small amount, and I see you don't want to go over $500 anyway. And.. I guess people already have solutions for larger amounts, a $50 wire fee doesn't matter so much on 1k+ orders. |
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Do you expect high fraud still? Or is the 10% mostly for your time?
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Do you actually have games? Showing them might make people more likely to sign up.
I don't get the business model, advertising? If the games are not enough incentive I to keep people around I don't think a tiny payment will help.
There are studies showing that small payments are often worse than free. I have anecdotal evidence that confirms this.
If you think the games are good and you just want to get people to try them you might do something like, "Try 3 games (for 10 minutes or more each) and get .01BTC".
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Doesn't it violate legal tender laws to denominate AH items in USD if the USD isn't redeemable? Seems a bit misleading to imply that users are simply transferring cash instead of buying the equivalent of "Blizzard Bucks."
They probably won't call them dollars, things will just happen to cost the same number of dollars as blizzard bucks. |
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But why was the pool operator even keeping the miners reward? Couldn't he pay his miners immediately from the generation transaction, with a send to many?
...
Before posting the question I decided to take a look in the blockchain.info... and even deepbit and Slush are attributing the generation coins to a single address, possibly to transfer them after the 120 blocks maturation period. Why? This is risky... Just send them immediately to the miners.
I'd think the big ones might want to avoid a bunch of .000004 sends, since they have so many miners and such frequent blocks, but the smaller ought put payments right in the generate since they have less trust and the payments would tend to be larger and fewer I'd think. |
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You can send it anywhere in th world in seconds with near 0 tx fees. How is anonymity close to the best feature? Anon can be lost with a simple mistake. Fast, cheap are almost all of the value.
Even most of the 'anon' value isn't from people not being able to figure out who you are it's from you not having to prove it before you use it. My PP has been stuck for months, they know who I am but have some more identity related hoops to jump if I want my money.
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A customer has a tx that seems to not be broadcasting. How does Multibit handle this? Will it go eventually? Should he reload... what? And try again?
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So now someone rash who likes big movements has a ton of money sitting in Gox?
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Seems like a good idea in that it gives users incentive to get people to come to the site and view the ads. But won't paying straight per post (either directly or statistically) encourage lots of short low value posts? I don't see a simple solution, unless you already have member or post rankings in the software or something like that.
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