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Who is going to be the first to bid 1.5BTC? Pay 0.5BTC to make avoid3d lose 0.5BTC? What fun!
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It's too late for a lot of testing, you can't just fuzz test Bitcoin without setting up your own gapped network of nodes and doing lots of mining first. Lets say a bug was introduced where if you send an address starting with 11 over 2^40 base units, the transaction's output address gets messed up? Oops if you are the one to find that.
I guess hex searching your hard drive for private keys before and after a 0.4.0 upgrade with encryption would be the big test that wasn't done...
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The best way to encrypt an old wallet with the least amount of data leakage would be to have a second database open a wallet.tmp file, encrypt all the wallet info into the new file, bit verify and test that every private key still turns into the address (that nothing was corrupted from bad sectors, gamma rays, etc), rename wallet.dat->wallet.unencrypted and wallet.tmp->wallet.dat, and then prompt the user "wallet encryption complete, delete unencrypted wallet backup?", then, if they confirm, 0-wipe the whole unencrypted file, rename it to a random bunch of characters, and then delete the old wallet.
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The problem will be compelling all the losing bidders to pay their bids...
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Is there any reason to be confident that was MM's full power and not just a small test to see if the system worked? Or that even if it was his full power at the time he hasn't invested in more hardware?
No, there's no way to be confident given that MM scaled up and then stopped once they reached 50% of the total network power. But scaling up to 280 times their earlier rate is not an easy thing to do, and is not as simple as buying 280 times more hardware: MM would require additional floorspace likely in a hosted location, HVAC, more power outlets, more breakers, bigger power drop, etc. If each machine/device gets 1 GH, they'd need 140,000 machines/devices. There might not even be enough floorspace in a local hosted location, and they'd have to construct their own facility to house the operation, a multi-year project in and of itself. Also, there's installation time: it took MM two weeks to scale up to 500 GH, and at that installation rate, it would take 10 years to install 140 TH. Clearly it would need to be a whole team to work on such a project, perhaps two: one larger one for install, and another for upkeep. MM's scale and timing was just about right for an unused or underused render farm between projects. 500 GH is a couple of thousand machines, and three weeks of scaling then suddenly ending sounds about right from a business perspective, too. And if you are still worried, support your local FPGA miner! It's the only way to attempt to scale up and compete with this or any other future Mystery Miner. Visualize a 1U server packed full of custom ASIC crypto-hashers chips, then picture a rack of 30 of those 1U servers, then picture a row of 20 racks of those:  Then picture an aircraft hangar-sized building filled with that:  Then picture more than ten of those aircraft hangars around the world. And these pictures are just Facebook, not a government. |
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Or 1.2% max (assuming price didn't change).
Depending on your monthly volume, they take .3% to .6% from the currency earned from both sides of the trade. So assuming first discount tier on average, your buy and your sell = .5% BTC buyer + .5% $ seller + .5% $ buyer + .5% BTC seller in fees, transferred directly from user accounts into mtgox accounts. |
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The last 22k of the rally volume got to my Bitcoins, so I did my part. He has stated elsewhere on the forum thus is what he does. He only goes to mtgox when the positions get too far out of balance.
Why would you trade on MtGox if you can handle it yourself? A sell and rebuy puts 2% in MtGox's pockets. |
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New users should instead use a reputable e-wallet while they wait for their client to download the blockchain.
Now to find a reputable e-wallet...
You mean one that has been around for a year and a half, has thousands of happy users, and has been featured in the press, then you might think it is reputable? mybitcoin was reputable until they disappeared. |
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I still think overmining is teh problem. yet I am expecting teh invention of a new technology that can mine 100,000 BTC a day.
But teh question is how many world wide would belive in it after all the BTCs have been harvested and daily transactions are pice of cake ?
Do you understand how difficulty works. There is no invention that can generate more than 7,200 BTC daily for the entire planet. In about a year that will be 3,600 BTC daily. 2016 blocks = 100800 BTC. At the start of a new difficulty, a dedicated agency like the NSA could probably mine 100,000 BTC in a day. Keeping the same hashrate they could mine another 100,000 in four days at the new difficulty they set. If you doubt this, remember the NSA has their own chip fab...they might have even tested their tech, search for " mystery miner"... Getting back on topic, I'm ready to go bounce these cats...  |
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Keep in mind that if you choose "instant sell," make sure that the quoted price is what you expected it to be. I made the amateur mistake a while back of assuming that the quoted BTC/$ price would hold for all of the coins I sold. Rather, the quoted BTC/$ refers to the highest bid.
That's not quite right regarding how instant sell works (or how it should work, maybe the bids changed right before you pressed "OK"). Lets look at an example, using an example order book of how many BTC different buyers want and how much they want to pay: | $ Bid | Amount | Running Total | | 2.88 | 1 | 1 | | 2.875 | 30 | 31 | | 2.87333 | 8.5 | 39.5 | | 2.85 | 2 | 41.5 | | 2.84 | 5 | 46.5 |
When you get a quote for an instant sell, Tradehill looks at all bids currently up and calculates how much you would get. Above, you see the first buyer wants to pay $2.88, but only wants 1 BTC at that price, so if you sold 1 BTC, it would quote you 1x$2.88. If you wanted to instant sell 25 BTC, then 1 BTC would go to the first buyer, and 24 would go to the second buyer, making the calculated earnings 1x$2.88 + 24x$2.875=$71.88, an average $2.8752 per BTC. If you wanted to sell 45 BTC, the quoted price would involve all five sellers, and would get you even less per BTC. Then you have ~5 seconds to press OK to execute the quoted sale. If instead you put in a market order to sell 25 BTC @ $2.88, you don't get a quote. What would happen is 1 BTC would instantly sell to the first buyer. However, the remaining 24 would be added to the 'Ask' order book for later sale. They would remain unsold until more buyers want to buy BTC at $2.88 or higher and submit new bids. If you put in an order priced above any current bids, say at $3.10, no BTC would sell right now. Instead, your complete order will be added to the ask book, and would not sell until the market price went up to your price (and others sellers may have lower-priced sell orders ahead of you). If you've been hanging on to your BTC this long (and seen the price you could have gotten for them go from 10->5->3), you may want to put in a higher sell order than the current price and wait; miner desperation to sell your hard-mined coins is what drives the price down. BTW, an instant sell is essentially the same thing as putting in a normal order, but with your price as $0.001. It will sell as many BTC as you ask, no matter how low the final price goes. |
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CHALLENGE: post the highest difficulty prefix you've found (use -i if you didn't search case-sensitive.)
New difficulty challenge to beat: 3,317,130,297,283 (see my signature!) |
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I captured the news story: http://youtu.be/peYNk3njNnQ(It looks like flash embedding is disabled in the forum, they should get rid of the flash tool button...) |
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I wonder who the "bitcoin enthusiast" will be?
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I just received an email from Dwolla this morning, just general updates as to what they're doing, They are seeming to be making a big to-do about some kind of major change happening on December 15th here's their blog entry about it: http://blog.dwolla.com/on-december-15th-dwolla-will-change-as-we-know-it/Edit: "We think this is a necessary pivot to concentrate on the greater goal of the company, building a network" HMMM, NETWORK YOU SAY?  The big change is probably something like a new $5 fee to transfer money to "concentrate on the greater goal". |
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Posts in the auction forum can't be edited - perhaps so you can't withdraw your bids?
Edit: But when your thread is moved out of there, you can edit again...
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Up for bidding, one Bitcoin, how much do you bid (in Bitcoins)...
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Remember the bitcoin program is actually called bitcoind so it is:
bitcoind -rescan
Not quite correct, there are two seperate executables included in the distribution - bitcoind is the daemon that has no user interface, and bitcoin is the program that 99% of people use. C:\Program Files\Bitcoin\bitcoin.exe -rescan is the command to put in Start Menu -> Run for just about everybody. The rescan option is used when you wallet file doesn't indicate the correct balance because transactions were missed somehow (usually database issues). Maybe try updating your firmware too.
What?? |
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Microsoft Security Essentials can block proper Bitcoin connections, you should check to see if you have installed this. What you need to configure in your router is port forwarding - port 8333 should be forwarded to the IP address of the internal computer running bitcoin (and you should make sure this computer gets a static IP address too). This may be the problem if you are only seeing eight or fewer connections. I have posted something relevant here, you can manually download the blockchain and put it in your Bitcoin install: https://bitcointalk.org/index.php?topic=51456.0 |
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I tried to resize them and upload them to my FTP server, but it didn't seem to make a difference. What's the coding you need to use exactly?
Resizing the JPGs would be best so the files aren't huge, but you can edit your original post and use this code to specify the browser resize the pictures for you: [img width=640 height=480]http://members.shaw.ca/dfilipowitz/447.JPG[/img]
[img width=640 height=480]http://members.shaw.ca/dfilipowitz/450.JPG[/img] |
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New users are often frustrated at the time required for a new Bitcoin installation to update before it becomes useable. This post outlines a faster way to get up and going if you are experiencing longer-than-expected delays. When you install and run the Bitcoin client software for the first time, Bitcoin must download the complete Bitcoin blockchain from other Bitcoin clients sequentially in pieces starting at block 1. The blockchain is a record of all transactions that have ever taken place, and you must have the complete record before you are able to see your own balance and send payments. The transactions are grouped into cryptographically secure transaction blocks that were created about every 10 minutes since Bitcoin was launched in 2009. As of Dec 2013, there are over 270,000 blocks, over 12GB that need to download over the p2p network, which can take many hours or even days. The download speed is also limited by processing power, as your CPU must verify transaction signatures and the validity of past payments, and your hard drive must keep up with the intensive I/O access building the database where Bitcoin stores transaction information. Bitcoin-qt 0.5.x-0.8.x screenshot: In the screenshot above, we can see by hovering over the network icon that this Bitcoin-Qt client has 71 network connections to other users running Bitcoin. The maximum if you are using an Internet router appliance or NAT without port forwarding will be eight connections. We can also see Bitcoin has downloaded all transaction blocks up to block 164944. If a transaction was sent to you now, it would be included in a future block - you would need to wait until that transaction is added to the blockchain and downloaded by your client in order to see an updated balance. There is one payment to this Bitcoin wallet in the screenshot, received around block 150000 - if Bitcoin had only downloaded blocks up to 100000, this transaction wouldn't appear in the client at all. Your client must be making some connections, and should start downloading blocks within a minute of starting. If this does not happen at all, you need to remedy this problem; typically it is a firewall or antivirus program blocking Bitcoin's connection to the Internet, or something is misconfigured on your network. If you are limited to eight connections, you can improve this by forwarding port 8333 in your Internet router to the computer running Bitcoin. If your Bitcoin is well connected on high-speed Internet and has a fast CPU and SSD, a new installation can be ready in as few as four hours, but may take much longer if conditions are not optimal. Fortunately, there is a method that is often faster. A blockchain import feature was added to Bitcoin version 0.7.1+ to "bootstrap" or import an external blockchain file, while still performing a full validation on the Bitcoin blocks being added. Whenever Bitcoin is started, it searches the data directory for a file "bootstrap.dat", and if this is present, it will import all new blockchain blocks contained in the file. This procedure still requires the same CPU and disk resources, but can be faster if network speed through the p2p network is the limiting factor (which is often the case, Bitcoin only attempts connections to one other peer at a time to download blocks). A torrent is maintained that contains blocks up to the last hard-coded checkpoint block in the client (currently block 250000, 9.1GB of blocks). Only blocks after this checkpoint will need to download off the peer-to-peer network. Download the torrent with this link: http://sourceforge.net/projects/bitcoin/files/Bitcoin/blockchain/bootstrap.dat.torrent/downloadMore torrent instructions and links on this thread: https://bitcointalk.org/index.php?topic=145386.0After completing the torrent download, you will need to copy the file bootstrap.dat to your Bitcoin data directory. To locate the default Bitcoin data directory on your OS, follow instructions on this link. When you restart Bitcoin, you should see the import progress dialog. ( Edit Apr 2013 - removed all direct download information except bootstrap torrent, Dec 2013, update blockchain and torrent sizes.) |
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