Even with everything that everyone says about hashes, we did get a duplicate GUID one time where I used to work. It caused major issues but from everything we could investigate, we really did get a duplicate. It's the only place where I have used GUIDs where it has happened, but it did happen once.
Nobody believes me and I have been called a thousand names on forums for mentioning it, but I can assure you it happened to us once.
GUID is 128 bit. If you generated so many numbers that you had a GUID collision every second you would on average only have one 256 bit collision every 5,395,141,535,403,007,094,485,264,577,495 (for the record that is a trillion times longer than the universe has existed). |
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Still, there are only 2^160 possible addresses from the 2^256 pool due to RIPEMD-160.
Sorry for hijacking, but I have another newbie question. https://en.bitcoin.it/wiki/Technical_background_of_Bitcoin_addressesIf 2 different hashes at step 2 produce the same hash at step 3 (which is theoritically possible, although very unlikely, I know) Then the final base58 address would be the same, though the ECDSA keypair would be different. What happens, then, if someone sends coins to this address? I'm guessing both ECDSA key pairs would be able to spend those coins? Correct. |
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anyone know an average monthly electric bill running this unit 27/7 for a month.
Not sure how you are going to run it 27 hours a day but it depends on the model. ASICs efficiency at the wall varies from ~8 J/GH to ~0.8 J/GH. So 30* 8 * 24 * 30 /1000 = 172 kWh on the high end to as little as 10% of that. |
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Ok thx a lot for your answers.
So the only way is to be patient to grind 0.01 BTC ? >_<
Yes. There may be pools which have a lower cash out limit than 0.01 BTC but they won't be 0.0000001 BTC. |
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Nodes following the QT client rules see tx without outputs less than 5400 satoshis as dust and will refuse to relay or mine them. Even very small tx above that threshold often end up with prohibitive fees. The min fee for low priority txs is 0.1 mBTC (10,000 satoshis) per KB.
0.01 BTC might be a little high but anything less than 0.1 mBTC starts to get dubious. The quick answer to your question is no such pool exists.
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The 21 million units that are labelled Bitcoin are just an abstraction, the Bitcoin system is actually comprised of 2.1 quadrillion subunits, which can be inflated to infinity. Now you all cry that making a currency more divisible isn't the same as inflating the supply, but the comparison is being made to long established currencies which are well defined in the market. Of course the sleight of hand here is to fix the supply of the highest denomination unit to 21 million, thus ensuring that those holding whole Bitcoins will get relatively richer and richer as more and more Bitcoin subunits are required to buy a single Bitcoin.
And why 21 million Bitcoins, why not just 1? With infinite divisibility why do you need more than 1? Or perhaps that would make it a little too easy for people to see that in a system where one tiny part of the whole and the whole can perform the same function , and that whole can be broken up to infinity, that the claims of supply constraint are meaningless.
1 BTC = 100.000.000 Satoshis is arbitrary. You may use whatever metric you want, but 1 Satoshi is lowest amount you can have in blockchain. well at this moment. But changes can be made to the source, so that it can be infinite! In a hard fork which would be a new protocol. If anyone supports the old one it will also still exist. It won't be happening in our lifetime anyways. |
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An inflationary currency is simply one that has an increasing money stock. So, yes bitcoin is inflationary because additional bitcoins are being mined, but it has nothing to do with the price of BTC measured in fiat.
Well it does to some extent. If x new BTC are being added to the exchange each day (net BTC inflows) then y USD also needs to be added (net USD inflows) or the exchange rate will drop. The higher the exchange rate goes the higher the y/x ratio must also go. |
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KnCMiner, a Swedish manufacturer of Bitcoin mining machines, told us it made $3m worth of sales in just four days earlier this month. During this bumper sales period, which started on November 7th and ended on the 10th, the value of Bitcoin skyrocketed from $264 to $336.
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"In four short days, we pushed $3m of equipment out the door. The increased activity around Bitcoin in just half a week undoubtedly had a sizable impact on our sales. We’re now focusing on doing everything we can to meet the demand we expect we will continue to receive, especially as Bitcoin’s popularity continues to soar.” What equipment shipped "out the door" between Nov 7th and Nov 10th? |
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The more BTC grows, the latter we will see anything, there is nothing we can really do about it. My 5BTC trowaway-lawyer found is now worth 2000$...
Why not start the arbitration process? You are bound by it anyways and it's less then $2000 This. You agreed to arbitration in the TOS. A judge sees that and he is going to throw your case out of court a long with a big lecture on following the terms of your contract which means arbitration first. Any competent counsel will tell you the same thing, of course they will charge you $300/hr for the exact same advice. |
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YES, making a temporary ramdisk and using -datadir makes it sync much faster. This might not be an option for everyone, but for anyone using bitcoind on a heavy duty server, its a no-brainer.
This. I skipped the temporary part and just left the blockchain on ramdisk with backup to fixed disks. The good news is memory is cheap, insanely cheap these days. If you are looking at doing any serious bitcoin backend work $100 or $200 on memory increase is worth far more than upgrading any other component. |
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Which is no different then the US govt putting a bid order for Bitcoins @ $1.00. Right now there are lots of low bid orders and nobody gives a crap.
When a government fixes a currency (like US on gold standard or China maintaining a peg to the dollar) they control both sides. If the price of Gold rises above the peg the govt sells gold from reserve to pull prices back down, if the price of gold falls below the standard the government prints more dollars to reduce the purchasing power of the dollar to the standard. You can't win against the government so most people stop trying.
The US govt putting a massive bid order for Bitcoins @ $1 USD per BTC would look beyond pathetic. It would be seen as a sign of support for Bitcoin. The most powerful government in the world is worried about Bitcoin and likely the price would explode two or three magnitudes higher.
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It may be variance enhanced but a 0.5 PH/s difference over 504 blocks can't be variance alone. It could be one or more company testing a new batch of miners. KNC is suppose to start shipping "mid nov" whatever day that means.
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You can't fix a currency to something (gold, oil, another currency) unless you have complete control over both the currency (supply, printing, inflation) and the reserve.
The US government can't control the supply of Bitcoin so trying to fix it to silver (or anything) would be futile. So govt says 1 BTC = 1 oz of silver. Ok people are trading it for 10x that. It just makes the government look stupid and powerless. Say Bitcoin skyrockets from that 10:1 ratio between the "official value" and market value to something like 50:1 or 2,000:1 it just makes the government look even more stupid over time.
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Bitcoin is perfectly divisible, another 10M or 200 quadrillion coins wouldn't improve liquidity. Liquidity is the able to exchange with minimal friction. Liquidity is deeper markets which damp volatility. Liquidity is there being a buyer when you want to sell or a seller when you want to buy. All that will come from a larger valuation to the money supply, better infrastructure, and deeper exchanges with more transparency and security.
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Do you reread your posts and then feel sad at what you have become. It is like one of those ebook hucksters, or late night real-estate informericals. "It is only $50". If I want to gamble I will throw some coins on Satoshi's Dice. IXC has absolutely nothing. No development, no advantage over Bitcoin, no services, no merchant adoption, not even any hype. Hell it doesn't even have any of the hundreds of code improvements and patches that could be copied from Bitcoin over the last couple years (leveldb, multi-sig support, encrypted wallet, improved memory performance, p2sh, etc). It is going nowhere. Maybe you trick some noobs into being the greater fool so you can unload your worthless coins on them for a profit but honestly is that going to make you feel good? Net-net nothing has been created. Your win comes at their loss or if you don't find the "greater fool" you ARE the greater fool the person who sold you those tokens nets a profit off your loss.
Your "it is only $50" routine comes off as a worn out used car salesman. I will pass.
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No. My curiosity in IxCoin is the abrupt end of subsidy and likely the network collapse that comes with it.
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Well you seemed proud of only losing half your Bitcoins this could be up to 50% better (only a 25% loss) of course to make it fun you won't know until 60 days later how little you lost.
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why do people keep asking this?
ignorance also see "bitcoin is tulips" see also: should make block times 10 seconds so tx are fast should steal/recover unused coins should blacklist "bad" coins should demurage coins so people will spend them deflation will destroy the world 21M BTC is not enough to go around all coins will be mined by 2040 how can bitcoin work once mining stops etc |
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Not 150% to 200% just 50% to 75% of what you send me. It still would have done better than ixCoin.  |
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Yes.
There is no required fee for high priority txs. If you want you can pay nothing, of course no miner is forced to accept your tx either.
For low priority tx (small tx amount, low coinage, small outputs) many clients enforce a "min mandatory fee" to prevent denial of service type attacks. The fee is currently 0.1mBTC per KB. It has been lowered three or four times in the past and likely will be lowered in the future. Historically this has been an amount equivalent less than a US cent up to a few US cents.
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