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Rumor has it ASICMINER just scammed their customers by means of the usual faux "security breach"
trollgasm
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nice, time to brag.
Tatatata I told you so.
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Spoiler: The movie ends badly for that train. |
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Satoshi is thanking you guys for making his 1 million bitcoins more valuable. 1 MILLION ROFLMAO  Nice, notice how the approximate volume ratio of the top of the pyramid to the rest is about the same as saoshis bitcoins to the rest. |
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Bitcoin is not a protocol, you know that Adam.
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(Before you scream "21 million": that bitcoin limit is "guaranteed" only by fuzzy arguments about a complicated economic game, not "by math", and could be changed if the right players agreed to it. Moreover, any kid can duplicate the amount of bitcoins in existence by creating a hard fork of the blockchain and starting to mine it on his laptotp. Anyone who has bitcoins will gain an equal amount of those "series B" bitcoins, accessible through the same private keys, and could trade them independently of his old bitcoins by duplicating his wallet and downloading the kids's client software. Whether those "series B" bitcoins will get a significant market value is a market(ing) question, not a technical one. And, of course, there are the altcoins.)
You're describing a double spend attack, right? No, I am describing a hard fork. It does not interfere with the original chain directly, simply creates another clone, premined and "pre-transacted" to hae the same addresses, private keys, UTXOS, and everything as the original chain. All it can do is steal value from the original bitcoins, if for some reason people prefer to spend their dollars on "series B" bitcoins rather than original ones. Perhaps you should tell people that it's not likely to be some kid on his laptop to do this fork but more likely to be a more sensible version of the Bitcoin "Foundation" a few years down the road. |
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-snip-
I could get 4pcs 64GB microSD cards below $100 each two years ago. For the third and last time moores law is about cost per transistor (Which is analogous to cost per flash cell). the 4 x 64GB would not have the same transistors density (since split into 4 separate sd cards) as the 200GB. ergo moore's law. Ergo you don't understand moores law, but it's not your fault education has failed you. nuff said |
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That's not cost scaling, what Moores Law is about. (The costs per transistor go down as time progresses) If anything it hints in the same direction we are already seeing, higher density is becoming more expensive than low density. (Based on price / transistor count) well, no, it is exactly what moore's law is about: this same 200Gb micro SD woulda cost about 2 times more 2 years earlier.. plus you can also blame it on the inflation for today's price. I could get 4pcs 64GB microSD cards below $100 each two years ago. For the third and last time moores law is about cost per transistor (Which is analogous to cost per flash cell). |
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Always trust a shirt maker about advice on cryptographic internet protocols.  >cryptographic no, just because it utilized cryptography does not make it cryptographic. >internet yes, Internet Funbuxcurrency. >protocols no, Bitcoin is not a protocol, it's a proof of concept prototype implementation, which has been pushed into production by delusions of grandeur. No matter how you like it. |
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That's not cost scaling, what Moores Law is about. (The costs per transistor go down as time progresses) If anything it hints in the same direction we are already seeing, higher density is becoming more expensive than low density. (Based on price / transistor count) |
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...
Anyone knows how many joules are tipically consumed today to create 1 valid block (25 BTC)?
...
Assuming current market price is very close to electrical energy spent on mining, and price for that is a low 10 cents / kwh, I'm getting a guesstimate of ~227 GJ. and how many joules are consumed by one Youtube video with a million views? How many by ALL youtube videos in one day? This raises the question what amount of energy would be wasted if Bitcoin had a similar sized userbase as youtube. |
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Of course they will be able to do that, and I think they'll probably do that with the U.S. Marshals auction.
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As I get it they still can only sell a year old shares though, just that now there are ones that are old enough.
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Secondmarket investors could not sell in the past and now the expiry period is over, and that means it's publicly traded, right?
Or can anybody explain what exactly else that means?
Yes, the BIT will be listed on OTC Markets and it will be publicly traded. http://www.otcmarkets.com/stock/BTCV/profile(The ticker will change to GBTC.) I mean implicitly, and only if IPO investors decide to sell, because where else are BIT shares supposed to come from? |
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Barry Silbert’s Bitcoin Investment Trust is poised to become the first publicly traded bitcoin fund, with approval and assignment of a ticker symbol by the financial industry’s main self-regulatory body paving the way for trading on an electronic platform operated by OTC Markets Group . The BIT, which was first launched in 2013 as a private fund for accredited investors with annual incomes greater than $200,000 or assets of more than $1 million, has been racing against a rival offering by twins Cameron and Tyler Winklevoss, best known for their lawsuit against Facebook Inc. Chief Executive Mark Zuckerberg . While the competing Winklevoss Bitcoin Trust is going through a lengthy Securities and Exchange Commission process to register a formal exchange-traded fund, the BIT has taken a backdoor route to public listing. By exploiting a rule that allows holders of a private fund to sell their shares publicly after a 12-month lockup period and completing a less arduous approval process with the Financial Industry Regulatory Authority, some of those long-held shares in BIT should soon be available to investors of any income or wealth bracket. The BIT is sponsored by Grayscale Investments, a unit of Mr. Silbert’s Digital Currency Group, which he established last year to hold the digital currency interests of his broker-dealer SecondMarket Inc. The creation of a publicly traded bitcoin investment vehicle is seen as an important milestone for the digital currency’s bid for mainstream acceptance. Bitcoin advocates hope that regulated instruments will encourage a wider investment base as investors will no longer need to own bitcoin directly, which can expose them to hacking risks. Those same enthusiasts hope that more liquid trading will help smooth bitcoin’s notoriously volatile price and thus make the digital currency more appealing for online payments and value transfers. Neither Tyler nor Cameron Winklevoss was immediately available for comment. In the past they have argued that their offering will be superior to the Digital Currency Group’s because investors will want the full imprimatur of the SEC before buying an ETF-like vehicle. Without SEC approval, Mr. Silbert’s fund can’t be formally classified as an ETF, but once existing shares are offered publicly it will function very much like one. As of Sunday, BIT shares were being cited under the temporary ticker symbol BTCV on OTC Markets’ “pink sheets” site, which includes over-the-counter offerings from companies with limited information disclosure. Price quotes are being supplied by Merriman Capital, which has been given a 30-day exclusive status to function as the fund’s initial market maker. Mr. Silbert said Finra granted its request for a permanent ticker symbol, GBTC, and that “is expected to be effective shortly.” He said Grayscale is also separately “working through the approval process to enable the BIT’s shares to be quoted under the Alternative Reporting Standards on OTCQX, the top marketplace operated by OTC Markets Group.” That top-tier marketplace holds issuers to significantly higher standards of disclosure than is required for its pink sheet listings. It is unclear how much secondary trading there will be in the BIT’s publicly listed shares. Any new shares, which are generated whenever Grayscale purchases bitcoins, can be sold only to wealthy, accredited investors. The size of the secondary market float will depend on how many early investors take advantage of the expiry of the lockup period to sell.
In a statement, the Digital Currency Group said, “Although we have been assigned a ticker symbol, no assurances can be given as to when or if such trading will commence, or that an active public secondary market for BIT shares will develop or be maintained.”
Many investors who purchased their shares at the BIT’s launch in the fall of 2013, when bitcoin’s price was around $100, have an incentive to sell. Even though bitcoin’s price is well down from its peak around $1,150 in early December of that year, at the current $247 price quoted by news site Coindesk, those early investors have a chance to realize a healthy profit. The Digital Currency Group is also allowed to offer a limited amount of its proprietary shares to the public, which would encourage the development of the secondary market.Each share of BIT is worth approximately one-tenth of a bitcoin. As of Friday, the trust’s net asset value stood at $24.43 per share. Write to Michael J. Casey at michael.j.casey@wsj.com Secondmarket investors could not sell in the past and now the expiry period is over, and that means it's publicly traded, right? Or can anybody explain what exactly else that means? |
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The Darkness is coming for Bitcoin... oh god this coin still exist
Actually we should be posting that in your thread.  epic pumpndump e: http://youtu.be/3gfntBEI3Aw |
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Instead of throwing them away, wouldn't it possibly be better to have them sent to an address which goes to starving kids in africa or something? What have starving africans ever done for us? Not much but eventually somebody will round up all Randroids put them in Somalia and turn it into green glass. Them watching the the suffering they've caused before a cataclysmic vaporisation might be the just thing to do. |
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btc-e has indeed been run properly for years now as far as i can tell , heck i've traded there myself and never had a problem either , but as compared to exchanges in china (government doesn't fuck around) and exchanges in the u.s. (government doesn't fuck around) it would presumably be a lot easier for the btc-e exchange which is run out of croatia if i remember correctly (a not long ago war torn country) to simply disappear eventually whenever they get to X millions goal to run off with ... my rationale for trusting coinbase is that (presumably) the folks who invested 75M into it know who they gave their money to / have a few extra M to hire bounty hunters / assassins / would be able to call upon the u.s. law and financial enforcement agencies should they attempt to pull any funny business (same goes for the major chinese exchanges , as far as difficulty evading chinese law and financial agencies)
- btc-e is not run from Croatia - Croatia was never torn by war BTC-E uses Ceska Sporitelna bank, Czech part of the ERSTE bank group that sucks money from mostly eastern part of Europe. Account holder is Mayzus financial from London, that's behind OKPAY as well. The guys are supposedly Bulgarians, website was never fully and properly translated from Russian and support speaks extraterrestrial english. Legit bussiness. Suck it. |
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Megaupload was one of the few products out there where Bitcoin payments would have made sense along with these other one click filehosters used for bottom feeder warez distribution.
Mega is a cloud storage platform for backups and sharing files between your own devices, use cases where people aren't concerned of leaving a trail.
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