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2941  Economy / Speculation / Re: Bets of Bitcoin - bet deadline changed subsequently on: November 29, 2012, 01:13:40 AM
Strange thing: Once you place a bet it says: "All bets are final.". So it seems they are not so final after all ...

What's going on there?!?!

Final as in you cannot request a refund.  But your bet can be canceled in certain instances.

Here's specifically what happened in this instance:

when an event concludes before the deadline or a major development happens (an official announcement etc.) we set the deadline to the day before and the bets after that is cancelled and refunded.
2942  Bitcoin / Pools / Re: got a little extra @ 50BTC/block! on: November 29, 2012, 01:02:28 AM
The "Horrible Horrendous Terrible Tremendous Mining Pool" run by mr. "satoshi dice" Just halved it's share 32*payout

Just to clarify to anyone that might be misunderstanding anything, this has absolutely nothing to do with SatoshiDICE.
2943  Other / Beginners & Help / Re: Scholarly articles on: November 29, 2012, 12:59:12 AM
Is there a section to discuss scholarly articles somewhere on the forum?

You could continue the discussion by necrothreading these:

Bitcoin is not anonymous
 - http://bitcointalk.org/index.php?topic=31539.0

   
Two researchers from University College Dublin investigate the the 500K theft.
 - http://bitcointalk.org/index.php?topic=31662.0

Also related:

 - http://TooLongDidntRead.com


And other research:
 - http://en.bitcoin.it/wiki/Research
2944  Other / Beginners & Help / Re: financial reporting standards for Bitcoin funds ? on: November 29, 2012, 12:49:21 AM
really? no input after 50 views?

Incidentally, 42 of them were probably bots notified of a new post via RSS and were pulling the content for Twitter and wherever else.

The 7 remaining were merchants or other accountants hoping you had something useful for them.   Few miners will probably even read this thread based on the title.
2945  Economy / Currency exchange / Re: MoneyPak for your BTC on: November 29, 2012, 12:38:41 AM
Everyone be careful, im very dangerous.

The problem is that let's say the seller redeems your MoneyPak and then a day or weeks later even Green Dot reverses the transaction, there's a problem.    There are a hundred scenarios why Green Dot might do this.

So a person accepting MoneyPak needs to have an abundance of caution when trading non-reversible bitcoins and accepting MoneyPak in exchange.

You said you would "go out to my local store and buy it" yet on your OTC history is a report that the MoneyPaks came from multiple states.  That's a red flag.  
So if there are any red flags, then those are BIG FLASHING RED SIGNS that say stop.  That's the nature of working with reversible forms of payment.
2946  Other / Beginners & Help / Re: slow blockchain!!! on: November 29, 2012, 12:32:50 AM
There may be something that can be done to get it to work. 

Looks like it ended well.  From another thread:

thanks everyone for your help, i got coins!!
2947  Other / Beginners & Help / Re: Bitcoin Pawn? on: November 29, 2012, 12:24:33 AM
Is there anyone out there who offers a true bitcoin pawn service?  By that, I mean, a place where someone can pawn their bitcoin?

Well, one way to do it is to find someone willing to sell you a CALL option and then sell your coins today at market value to meet your immediate cash needs.

There is an options market (MPOE) but only for current month and next-month, and there are significant premiums paid for this.

Another approach is to sell half of your coins (750 BTC of the 1,500 BTC) for about $9,000 USD and that gives you the cash you wanted now.  Then you send maybe half of what is left (e.g. 375 BTC) to ICBIT.se and buy 750 BTC of BUZ2 futures contracts.

Then if the exchange rate increases in three months, you realize the increase from the gains on a total of 1,500 BTC -- the same just as if you had never sold any to begin with.  This gain comes from the 375 BTC you still hold in your own wallet, plus the 375 you sent to ICBIT plus the gain on the 750 BUZ2 contracts (which is paid daily as "margin variance").   This is using 1:2 leverage at ICBIT.  You can leverage up to 1:10, but the higher the leverage the higher the risk of seeing forced liquidation.

There are some assumptions like the how gains or losses in BUZ2 show follow closely the gains or losses in the BTC/USD, but that isn't guaranteed.   There can be big differences,  as at one point in time BUZ2 was trading over $14 with BTC/USD in the $12s, and also recently BUZ2 was trading under $10 when BTC/USD was just under $12.   So if you are forced to sell BUZ2 before settlement (the end of the BUZ2 contract) you may end up taking a loss on the difference between where the future is trading versus the spot market rate.

There's also counterparty risk.  ICBIT.se offers futures contracts which is a regulated activity in most areas but this service is operating anonymously.  If tomorrow they disappear, or perhaps they "get hacked", there's likely no recourse.  Your 375 BTC would likely then be gone as well as any gains that might have accumulated.

But in comparison, that loss would be lower than giving 1,500 BTC as collateral on a $7,500 loan and then your lender disappears (because with the ICBIT method, you still keep 375 BTC in your own wallet plus the $9,000 from selling the 750 BTC initially).   If you are willing to gamble that the exchange rate will be going up, you could even send fewer BTCs to ICBIT and do a higher leverage. Depositing 150 BTC and levering up just under 4:1 lets you buy those 750 BUZ2, but levered that much puts you at risk of having your position being force liquidated if the exchange rate were to drop roughly near 15% (to under $11, for example).

But that's an option you might not be familiar with but might find useful so I wanted to share that here.
2948  Other / Beginners & Help / Re: Transaction change vanished on: November 28, 2012, 11:21:11 PM
Hi, I went to transfer one BTC from a wallet to another.

Do you mean that from your wallet you paid one of your own addresses from the same wallet?   Or are you saying you have two wallet files, sent from one to an address from the second wallet.dat?

If you are swapping wallet.dat files, you might want to launch the bitcoin-qt client with the -rescan.

2949  Economy / Gambling / Re: [BITLOTTO] Nov draw over! Next draw Dec 7! on: November 28, 2012, 10:42:33 PM
Winning payment sent out. Good luck everyone on the next draw!

Looks like BitLotto is facing competition from other online gambling services that use Bitcoin and interest in this is waning.

This is too bad, because seeing the absolute madness that PowerBall has right now, a Bitcoin lottery service with 99% payout and being provably fair should be something exploding by now.

One idea I had was that a party could use BitLotto to enable a raffle for a specific prize.  i.e., if this party (the raffle operator) wins a BitLotto, then that party uses the winnings to buy the prize that is then granted to the holder of the winning ticket.   For example, the raffle operator lists a prize of an all-inclusive trip (including airfare) for two to some winter resort -- if the BitLotto reaches some threshold (e.g., $2K USD worth of BTC at the time when the lotto draw occurs).  If BitLotto doesn't reach that threshold, then the operator just pays out cash instead I suppose.

This can be done today without BitLotto's knowledge or participation however the raffle players would be paying funds to the operator (who then buys the tickets from BitLotto) and would have to trust this raffle operator -- there is no transparency as far as how many tickets are sold, and there is the risk that the raffle operator fails to deliver the prize and winnings.

To enable this type of proxy winner within BitLotto, what is perhaps useful then is a way that individual players can place wagers to this special pool address but if that pool is the winner, the payout goes to the operator who set it up.  This is nearly identical to how a BitLotto affiliate works, except for how the full payout of winnings goes to the party that set it up, not just the commission.

Does anyone have any thoughts on this or have other suggestions for BitLotto?
2950  Other / Beginners & Help / Re: the fate of bitcoins (all will be lost - literally and eventually) on: November 28, 2012, 09:05:58 PM
my harddrive went extremely south shortly after... i.s. no backup, and all my attempts to recover my lost wallet failed. 

I asked around and was told there really is no way to recover a lost wallet if I had no backup.

There is a tool that searches a disk device for strings that are bitcoin private keys.   So even if you can't access the filesystem, if the bits are on the drive they might yet be recoverable:

Bitcoin private key/wallet.dat data recovery tool!
 - http://bitcointalk.org/index.php?topic=25091.0
2951  Other / Beginners & Help / Re: looking for good, complete, technical description on: November 28, 2012, 09:02:48 PM
Very nice diagram - is this free for anyone to link use?


I', not charging you, and I dunno whose this is.

Source:
 - http://spectrum.ieee.org/computing/software/bitcoin-the-cryptoanarchists-answer-to-cash/0
2952  Economy / Currency exchange / Re: INR Exchange -- Where can i exchange btc for INR on: November 28, 2012, 08:21:37 PM
Anyone know a good exchange? or is there one?

There is an E-Currency exchange that will sell coins to you (or buy your coins):
 - http://en.bitcoin.it/wiki/ECurrencyZone

There are many individual traders:
 - https://localbitcoins.com/country/in

And there are offers to buy and sell posted in threads on the India board:
 - http://bitcointalk.org/index.php?board=89.0
2953  Other / Beginners & Help / Re: How much Bitcoin can I expect to make with this setup? on: November 28, 2012, 08:10:44 PM
I'm at an apartment so it doesn't matter if I use $1 of electricity or $10000 of electricity. But I think the wear to my rig would still cost more than the $3 I might make.

Incidentally, CoinLab will soon be releasing a client that performs scientific computing work and pays out in bitcoins.   An NVidia actually performs better than AMD GPUs for this type of work.  Currently they only are doing a bitcoin mining pool (95% PPS) but "soon" for the HPC client.

 - http://bitcointalk.org/index.php?topic=99643.0
2954  Economy / Scam Accusations / Re: bitcoinplus scam on: November 28, 2012, 07:31:45 PM
Just wanted to warn the rest of you.

There's been no shortage of warning messages on this forum.  A simple search yields dozens of similar reports.

But thanks.
2955  Economy / Currency exchange / Re: MtGox Autosale on: November 28, 2012, 07:25:11 PM
Does MtGox feature autosell without the need for a button and a fixed fiat amount? I envision you have a payment hash for your MtGox acct and everything you send there will be autosold to the currency of choice?

Well, Mt. Gox lets you put in a sell order for a quantity higher than you have in your account.

So you simply put in a sell order (market order) for a large quantity (e.g., 100,000 BTC).   Whenever new coins are received (either deposited or from sales to customers) those coins are sold at the market rate as soon as they are credited to the Mt. Gox account.

So you can either have it done on a per-sale basis with the autosell being requested in the API call, or the "large market order" method of having funds sold upon arrival.
2956  Economy / Speculation / Re: Bill Gates on digital currency becoming big in Kenya and India -but not bitcoin? on: November 28, 2012, 07:04:23 PM
and M-pesa transactions appear to be irreversible (any confirmation?)

The agent that sent can call a number (#234) and reach M-PESA customer service to have the transaction reversed:
 - https://www.youtube.com/watch?v=M9HGzwSfWZk#t=380s

Heh, this is interesting.   At the end of the first talk the process of having to record the transaction details and identity verification in a log book (pen and paper), then how the service is reliant on timely text messaging delivery

Then the second video is mostly about the fees paid and commissions earned, with some discussion over the tiers  (one company has one or more locations, each location has one or more agents.   Commissions are paid by Safaricom for transactions).

I don't know how many of these 45,000 M-PESA agents know about bitcoin, but it is either going to be seen as an opportunity by them to buy and sell bitcoin instead of (or in addition to) M-PESA, or it will be seen as a threat (because Bitcoin can displace M-PESA fairly easily) and that business goes to individual traders who then compete on price -- the lowest fees and inventory of cash or coins will be what results in a trader being successful or not.
2957  Bitcoin / Mining speculation / Re: On the contrary, its actually good ASICs are coming when they are... on: November 28, 2012, 06:23:44 PM
Im still somehow profitable @ normal pps rates.....

I'ld like to see that calculation (or I'ld be happy to run the numbers myself.)

What is your cost of electricity per kWh?  What hardware (e.g., what GPUs specifically)?
2958  Bitcoin / Development & Technical Discussion / Re: Date for 25 BTC per Block on: November 28, 2012, 06:19:57 PM
So, it ended up being November 28th in most every populated timezone.

Specifically, 2012-11-28 15:24:38 UTC
 - http://blockchain.info/block-index/322335/000000000000048b95347e83192f69cf0366076336c639f9b7228e9ba171342e

I was really expecting there to be some larger exchange rate volatility over the last few days.  I was expecting GPU miners to already have been selling in quantity on eBay.  

But it has been pretty quiet.
2959  Other / Beginners & Help / Re: BLIZZCOIN refilling on: November 28, 2012, 05:50:30 PM
BLIZZCOIN refilling ! SO LONG ??

How many hours is blizzcoin.com back Huh

That's been unavailable since the summer.  Appears they needed to change their payment processor, and never recovered?
 - http://bitcointalk.org/index.php?topic=53379.0

I've updated their article on the Wiki to reflect this.

There are many alternatives for SEPA transfers now:
 - http://en.bitcoin.it/wiki/Buying_bitcoins
2960  Bitcoin / Bitcoin Discussion / Re: Bitcoin on Adam vs the Man on: November 28, 2012, 05:41:37 PM
+1 Adam explains bitcoin and why its relevant very well

Exactly the way to do it.

"You can drive a car without knowing what is happening under the hood."

then go on to describe the various ways it can be used.
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