...deflactionary currency...
Others have answered the fee questions and math issues, but some would argue as to whether bitcoin is deflationary (assuming you did mean deflationary) - it is certainly not deflationary now and will keep inflating for quite a while. :-) |
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I bought some BTC few months ago when price was (in drop to) ~700$.. I want to keep them safe for few years and then maybe sell. Till now I keep my BTC on android device with Bitcoin Wallet. I did printout my private keys too. But I know that this is not a safest way to do it, as my device was already online during this process. What you suggest? Thanks  Create a paper wallet offline, probably bip38. Then transfer your coins to these new addresses. Store a copy in a safety deposit box or somewhere off site too. |
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From an IRS perspective, they would say the answer is B. From a reality perspective, A.
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I am really shocked at this ruling. It's amazingly positive for BTC. While I can imagine a scenario where it could lead to a small dip, that would be because people who were holding got such good cap gains news they are selling. But I mean, it is being treated para pursue to gold for purposes of mining and exchange, with a smaller tax burden then gold or forex for gains.
Can't really imagine a better result. If they had said no taxes maybe, but that would have been a step to de-legitimize. This is a major step to recognition, and I think the best we could have possibly hoped for in the structure.
This isn't technically true, bitcoin is taxed as income when it's mined. Gold is taxed when it's sold. If you mine the bitcoin and sit on for 100 years you are still paying taxes. If you mine Gold and put it in your pocket until the day you die, you don't pay any taxes on it, and neither do your heirs. That is unless they sell it. If you are in the US, your heirs would pay taxes on it, other jurisdictions may vary. |
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Are the instructions here current or do they need to be updated for the latest Bitcoin version?
They're old (as is the p2pool software) but still current. I'm using the new bitcoin client with my setup no problem, a list of ports are a bit further back in the thread EDIT: strike that - having all sorts of latency issues since upgrading to Bitcoin v9 & getting regular cpu spikes up to 60% - anyone else having problems? Done the right thing, uninstalled old, installed new from ppa, etc.........tried reinstalling........strange   GetBlockTemplate latency is much higher with bitcoin v0.9 final. It is higher than it was on the last few RCs too. I had been running the RCs since January and with the 0.9.0 final, latency spiked. |
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Address 17G7VMdNvAMc6fyvB1C2PxtVVvWgsJ9Mp7 was in the signature lines of user "jongameson" at one time, too.
Suspicious - looks like the address was somehow not generated in a truly random way.
Onkel Paul
Yes, if something like the Android RNG bug was used (e.g. if blockchain.info generated this and they have/had a RNG bug) then something similar could occur. I am not sure if that portion of blockchain.info is on github yet. Of course it could be something else, but if the private key wasn't compromised somehow, it could be a RNG bug. |
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P2Pool code updated on GitHub:
https://github.com/SpainCoinProject/p2poolUse this to set up p2pool pools (nodes) (for mining from 18:00 GMT onwards). Don't forget to install the vtc_scrypt python module in vertcoin_scrypt. New worker port is 26490. (Code untested, but the change is trivial). p2pool.com is running the updated version of p2pool for SpainCoin - ready for 18:00 GMT. mine.p2pool.com:26490 Username is your SpainCoin address Password is anything |
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"Most importantly … the Colombian state is the one with a monopoly over money. Our currency is reliable, safe and generates no risk, while other forms of money do not have the same level of support and guarantees.”  Lol. Talk about delusional. How quickly they want you to ignore the loss of value from inflation. Good post! |
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Transactions are nearly instantaneous, less than a few seconds and they'll reach most of the network. With fees, once that occurs, the circumstances where they wouldn't confirm are few. Confirmations, as DH said, take an average of 10 minutes. In most cases, for low value transactions, zero confirmations are acceptable.
For high value, confirmations are always recommended, the higher the value, the more confirmations in my book.
There are many situations where even high value transactions can be accepted with 0 confirmations. As long as you have a trust relationship with the payer, or a very high ability to repossess the product or service that was exchanged, there is little need to wait for confirmations. True. |
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Transactions are nearly instantaneous, less than a few seconds and they'll reach most of the network. With fees, once that occurs, the circumstances where they wouldn't confirm are few. Confirmations, as DH said, take an average of 10 minutes. In most cases, for low value transactions, zero confirmations are acceptable.
For high value, confirmations are always recommended, the higher the value, the more confirmations in my book.
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I didn't see this one posted yet: Original: http://online.wsj.com/news/articles/SB10001424052702304026304579453501821936252?mod=WSJ_hp_RightTopStories&mg=reno64-wsjGoogle Cache: http://webcache.googleusercontent.com/search?q=cache:tqykiaJ9qhQJ:online.wsj.com/news/articles/SB10001424052702304026304579453501821936252+&cd=1&hl=en&ct=clnk&gl=usMarc Andreessen Is Betting on Wide Adoption of Digital Currency Bitcoin
Internet pioneer Marc Andreessen is doubling down on bitcoin amid turbulence in the virtual-currency world, in a bet that widespread adoption of the currency will fuel the growth of new businesses and technologies.
Venture-capital firm Andreessen Horowitz, where Mr. Andreessen is a co-founder and partner, has made about $50 million of investments in the area—believed to be more than any other firm—from a $1.5 billion fund, the firm says. The Palo Alto, Calif., firm plans to invest hundreds of millions of additional dollars over the next few years from other funds, people familiar with the firm say.
Mr. Andreessen says he is convinced of the bright outlook for digital currencies despite setbacks such as the collapse last month of Tokyo-based Mt. Gox, one of the most prominent bitcoin exchanges, which said it lost hundreds of millions of dollars worth of the virtual currency. "I'm completely unfazed and plan to invest more," he said in an interview with The Wall Street Journal.
...
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I think that it will make the search function on here nearly instantaneous.   All kidding aside there have been a ton of discussion on here dealing with this. :-) |
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Here we go again. I can see it now... That 'Bitcoin User Not Affected' meme will be making a comeback.
Mt.Gox goes bankrupt after theft. Bitcoin User Not Affected ... oh, wait. If you don't have the private keys, you are not a bitcoin user. You are a creditor to someone else and own no bitcoins, you just own IOUs. Yeah, right. And if you dont have all your gold and cash hidden in your room you arent a "gold or fiat user". Yeah, thats gonna be safe .. oh, wait. Wouldnt really be a difference if there had been a piece of paper with a couple of numbers on it found as well. Just because you don't want to deal with reality does not make it untrue. You are not a bitcoin owner if you don't have your keys, you are a creditor to someone else. Period. You don't own bitcoin without the keys. If one is too incompetent to manage the security of your private keys, then perhaps one should just put one's money in a bank and let someone else manage it for them and have it subject to haircuts, bail-ins capital controls, exchange controls and the like. Zeroday knows the difference which is the point of this thread. That is one place where bitcoin is different, I'm sorry you aren't aware of this feature of bitcoin. There are things like bip38, brain wallets (often a bad idea) and others where it would have been much different than the story you linked to. |
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Here we go again. I can see it now... That 'Bitcoin User Not Affected' meme will be making a comeback.
Mt.Gox goes bankrupt after theft. Bitcoin User Not Affected ... oh, wait. If you don't have the private keys, you are not a bitcoin user. You are a creditor to someone else and own no bitcoins, you just own IOUs. |
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Building LevelDB ...
make[1]: *** No rule to make target `libleveldb.a'. Stop.
make: *** [leveldb/libleveldb.a] Error 2
Fucking broken source!!!
FUCKING FAIL LAUNCH FOR LINUX USERS YOU DIS US COZ WE DON'T HAVE THE SAME LEVEL OF KNOWLEDGE AS YOU? The question isn't knowing, it is (a) having the dev test, so that (b) pools can be up in a reasonable time. |
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so this is what is called "good launch" lol
Yeah, I'd hate to see bad. |
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