Hi:
If you numerous people wanted to convert BitCoins to dollars when the boom takes a dive–does Mt. Gox have enough cash on hand to pay everybody? No. Cash is regularly transferred from the various ways of getting money on MtGox to their bank in Japan. However, he does keep all of the deposits on reserve, so it could be sent out after a few days. Moreover, if I wanted to withdrawal $10,000 worth of BitCoins and put the cash back in my Dwolla account, what percentage would Mt. Gox take?
I sincerely appreciate the information. Thank you.
First off, unless you've contacted MagicalTux with your personal information (I don't remember what's needed, sorry), you'll be limited to withdrawing $1000/day and $10,000/month due to anti-money-laundering laws. Otherwise, it's the standard fees. (0.67% to convert BTC to USD then 25 cents to withdraw) |
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Dwolla broke the ability to send funds using the API that MtGox was using before.
<casascius> MagicalTux: I have two withdrawals that haven't shown up at Dwolla, are there any known problems
<MagicalTux> casascius: yep, dwolla implemented dwolla grid, and it seems they broke sendMoney(), I'm talking with them right now
<Kuroshiro> MagicalTux: how's the dwolla situation/
<MagicalTux> Kuroshiro: dwolla created dwolla grid and it seems that their old api was broken in the process, will implement dwolla grid to be able to send funds
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MagicalTux can only process Dwolla while he's awake. Connect the dots...
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Today's rise was organic. It occurred right after all the Dwolla money came into MtGox.
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hint: price manipulation
Today's rally was 100% because of the weekend funds arriving from Dwolla. |
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I made a withdraw yesterday morning but it hasnt gone through yet either. Now its not even letting me make a withdraw at all. It keeps saying invalid. Does anyone know the min./max. amounts allowed to withdrawl?
$1000/day, $10,000/month |
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if deepbit tries to do anything shady, its hashing power will get close to zero real fast, and that will be the end for it.
That would not happen at all. The fact that few deepbit users have even seen this thread is proof of that. I never thought I'd have to say this, but we'll need to start a bounty to DDoS deepbit if Tycho doesn't do SOMETHING soon. |
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Is this normal?
Yes. At the moment, this is still a one-man operation. However, MagicalTux is currently looking to hire customer service reps over in Japan, where he is based. |
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With all the money mtgox is obtaining they should stop being greedy, and hire more people for customer support.
He is in the process of doing that. The first lady he hired wasn't very good with English, so MagicalTux had to let her go. Once he finds someone else, he'll still have to train them. |
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By default, the wallet creates 100 keys as a buffer (not sure if it's a rolling buffer, you'd have to ask Gavin or someone). Currently it's rolling, but a pull request is in that would change it to (by default) top you off to 100 addresses only when you go below 75 unused addresses. We'll see if that goes anywhere. So you have 100 different addresses to pick from with a fresh wallet backup before you need to backup again. Be sure to see Dude65535's note above. So yes, use only one address and you'll never need to backup again.
Not entirely true. (Almost) every time you send bitcoins, a new address from the pool is used to return your "change". As such, the easiest way right now to be safe is to just back up every 100 transactions. |
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So if I have a backup and a spending wallet, all I have to do is remove the spending wallet for a minute, copy the backup back into the location, load bitcoin, exit, back it up again and then restore my spending wallet? if thats the case thats what I was thinking. thanks!  I'm confused. Are you just trying to backup your spending wallet or are you trying to create a savings wallet? |
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and I'm naturally a bit envious of the early adopters who now are worth significantly more than the rest of us. So what? They took risk by buying bitcoins with no guarantees of future value. I took a (significantly) smaller risk by mining in the last few months and have gotten a significantly smaller return. You mention they took a risk by buying early on, yet you took less risk by mining later on. Except they didn't buy, they mined at 1/100,000th the difficulty. There is quite a difference. Not really. All that electricity they used? It was almost certain that they'd never be able to pay that back. All the new computers they bought just to mine? Same thing. But most important was their investment of time. Imagine searching for documentation when the only bitcoin site that existed was this forum. Literally NONE of the things we take for granted were around back then. |
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To update a backup, you just need to copy over your current wallet.dat. We also recommend exiting out of bitcoin before doing so.
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Really seems like the client should have an option to automatically backup the wallet after every transaction if this is the case ehh...
This thread is extremely old. Since then, we've implemented the creation of a pool of 100 (by default) pre-generated keys that your client will use. That means that a backup won't expire after each transaction anymore. However, you still need to do regular backups. Note: there is currently a bug where the pool won't be created in a new wallet until a few transactions are made. |
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In addition, my name is Immanuel Ortego.
I have verified this by comparing it to my trading records with him. |
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I've had this several times happen to me where I would restore an old wallet and there would be no transactions until I re-download the whole block chain from scratch (tried replacing it with recent blockchain nightly from http://bitcoin.bluematt.me/bitcoin-nightly/blockchain-nightly/ but it didn't work either). Why is this happening? (hoping re-downloading will solve this issue since there is quite a sum on this current wallet I'm trying to restore...) First off, any wallet created and used with a client after version 0.3.21 won't have this issue. Otherwise, if you are using a client 0.3.20 or higher, just start it with the -rescan command line. |
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Perhaps the ecdsa signing code and private keys could reside on a smartcard?
How would a user be able to verify a transaction before signing it?
Can a setup be made that guarantees a transaction will be sent to the right person?
I am thinking about the small "calculator"format tokens. Could a custom 'token' display amount and target adress?
So like this: upon user attempt to send BTC a potentially infected pc proposes a transaction to the smartcard. The smart card stores the transaction and is ready to be switched off. The token restarts the smart card, and the smart card analyzes the transaction and outputs BTC amount and target adress to the token LCD. (the token has a button to accept or decline). Upon acceptance, the smarcard signs the transaction and stores it. Computer now starts up the smart card and can find the signed transaction only if user agreed.
Now that I think about it, perhaps the token should have a 2 row screen, one for amount and adress, and a full keypad. Create transactions on the smart card itself through the token.
Assuming the token is not programmable, it would be hard to hack, and since the token is never connected directly to PC, they would have to hack the smart card first...
I like this! It's like SmartSwipe for Bitcoins! |
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bitcoin.org and weusecoins.com are still linking to the old version. As a result, in the just last few hours, we've gained ~100 0.3.21 users, and just a handful of 0.3.22 users. We still only have just 189 0.3.22 nodes online - barely more than at the end of RC testing. We need to do a better job of getting the word out.
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