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3561  Bitcoin / Bitcoin Discussion / Re: I just thought of something: DEFLATION! on: June 03, 2011, 11:39:26 AM
Except that loans really do make money out of thin air.
3562  Bitcoin / Bitcoin Discussion / Re: Lost backup of my wallet.dat, how to "invalidate" it? on: June 03, 2011, 11:36:22 AM
Create a new wallet with entirely new keys.  Transfer your entire balance to one or more of the new keys.
3563  Alternate cryptocurrencies / Altcoin Discussion / Re: cryptocurrency pegged to gold on: June 03, 2011, 11:33:52 AM
The reason why gold-bug fiatphobes are idiots is because they want the government to decree that one little portrait of some historical slave-owning figure or other should be redeemable for one small amount of yellow metal.

This, say the gold-bugs, is better than same government decreeing that they will accept your little slave-owner portraits as tax. Huh

Bitcoin is better than all that, let it float free, gain and lose value as the economy needs. The amount of yellow metal in society is irrelevant, and should not impinge on peoples ability to setup new enterprises and invest in new industries. Liberate the purchasing power man, let it swoop and soar, don't tie it down with all that shinny yellow aristocrap.

The reason it can't be pegged is because no one can create more of either one at will.  This is also the reason that both are better than cash.

Your anti-gold rant is laughable, mostly because of the missed commonalities and false differences.  Let me illustrate.

The reason why gold-bug btc-bug fiatphobes are idiots is because they want the government to decree that one little portrait of some historical slave-owning figure or other should be redeemable for one small amount of yellow metal bitcoins.

This, say the gold-bugs btcbugs, is better than same government decreeing that they will accept your little slave-owner portraits as tax. Huh

Bitcoin Gold is better than all that, let it float free, gain and lose value as the economy needs. The amount of yellow metal bitcoins in society is irrelevant, and should not impinge on peoples ability to setup new enterprises and invest in new industries. Liberate the purchasing power man, let it swoop and soar, don't tie it down with all that shinny yellow aristocrap bitcoin crap.
3564  Bitcoin / Development & Technical Discussion / Re: [RFD] BtcFn Question: Designing a 'generic transport layer' for bitcoin? on: June 03, 2011, 08:05:31 AM
The BtcFn (The Bitcoin Freenet Project) project is in the process of working on the API connecting to the bitcoin client to other transport layers / data back-ends.

These backed layers will be used to transmit various bitcoin data over different protocols,  such possible uses could be:
  • Program that saves and reads a copy of the block-chain from a file.  Say used to save the block-chain on a USB key-drive.
  • A radio station could transmit the block-chain over short-wave radio so that everyone in the world has access to it.  The same API could be used for a program to automatically import the block-chain updates in the Bitcoin software.
  • BtcTorrent, a simple application that takes advantage of the API and lib-torrent that allows new clients to quickly download the block chain.
  • The above mentioned bitcoin on freenet project, this project will allow clients to use bitcoin with freenet as a transport layer, for both transmission of the block chain, and transactions.
  • Traditional bitcoin transport layer application.  This application will implement the standard bitcoin p2p protocol, and will be used by default.

The API should be designed so that multiple applications can connect to the same bitcoin instance at the same time.   The API should be non-blocking and atomic in design... (either something works completely, or it fails completely).  Finally the API should have no access to any function that interacts with the wallet.

The goal is that every bitcoin implementation will implement this API, so any bitcoin implementation can use any transport implementation.  e.g. Bitcoinj could make use of the same Bitcoin p2p application as the mainline client.

Questions/Comments?

We will be working on the design on the bitcoin wiki: https://en.bitcoin.it/wiki/Bitcoin_Transport_Layer_API

We already have a global system for moving arbitrary data over various media.  Even pigeons.

Oh, and the problem isn't so much in the downloading of the blocks as it is in the processing of them.  Each node must process each block.
3565  Bitcoin / Development & Technical Discussion / Re: Orphanned block data? on: June 03, 2011, 08:01:32 AM
I haven't seen anything browsable, but they do happen, and they are generally resolved within 1 or 2 blocks.
3566  Alternate cryptocurrencies / Altcoin Discussion / Re: cryptocurrency pegged to gold on: June 03, 2011, 07:59:13 AM
Bitcoins are being pegged to watts as we speak.

Nonsense.
3567  Bitcoin / Bitcoin Discussion / Re: Has anyone actually ever looked at every line of code? on: June 03, 2011, 07:58:34 AM
At this point, I don't think that any one person has looked at all of the code.  But, for any given section, several people have looked at it.

And there are quite a few people that inspect each and every change that gets pulled into the main branch.  An actual attack would need to be very subtle to get in.
3568  Bitcoin / Mining / Re: How should I mine? on: June 03, 2011, 07:48:31 AM
Use the flex proxy.
3569  Bitcoin / Pools / Re: BTC Guild - 0% Fees, Long polling, SSL, JSON API, and more [~500 gH/sec] on: June 03, 2011, 07:45:45 AM
I'm getting a lot of connection errors again...any issues still going on?

Yes, I started getting a LOT of them recently.  It makes me nervous.  I have already woken up or come home to miners which had crapped out due to communication or long polling issues ... since I have to sleep, what is one to do?

I use the flex mining proxy, plus a custom reboot system.
3570  Economy / Economics / Re: How can i know, when difficulty gonna change?? on: June 03, 2011, 07:43:33 AM
So how much money is there to be made by predicting the direction and time of the next difficulty change, assuming it has a straightforward effect on price, and buying/selling loads of coins?

Not straightforward at all.  The USD to BTC ratio and the difficulty most likely form a complex system.
3571  Bitcoin / Pools / Re: BTC Guild - 0% Fees, Long polling, SSL, JSON API, and more [~500 gH/sec] on: June 03, 2011, 05:21:09 AM
Pretty much.  Over several weeks, BTC Guild has paid me pretty much exactly what I expected based on my hashing rate/return calculations.
3572  Bitcoin / Mining / Re: Who is user #2631 on BTCGuild and what are you mining with?!?!?! on: June 03, 2011, 05:05:09 AM
I don't think he's selling them.  You'd need to learn VHDL and negotiate with a foundry yourself.
3573  Bitcoin / Mining / Re: Any pool want to buy difficulty 2 shares?? on: June 03, 2011, 05:03:12 AM
It would make more sense to fix the miners to accept whatever difficulty the pool requests rather than the other way around.
3574  Economy / Economics / Re: How can i know, when difficulty gonna change?? on: June 03, 2011, 04:17:35 AM
Divide the current block number by 2016.  Subtract the remainder from 2016.  Your answer is the number of blocks between now and the next retarget.
Actually to be more precise (a tool could be created but it's not really a precise moment in time to be predicted), you can do the following on http://blockexplorer.com/q
- Get the current block number: http://blockexplorer.com/q/getblockcount
- Get the next retarget block number: http://blockexplorer.com/q/nextretarget
- Get the current average interval: http://blockexplorer.com/q/interval

For example now, it's block 128249, difficulty change in (129023 - 128249) = 774 blocks that take on average 504 seconds => 108.4 hours => 4.515 days.

According to Wolfram Alpha, the exact difficulty change will be on 3:47:18 pm EEST  |  Tuesday, June 7, 2011.

I'll bet you 1 BTC that the change does not happen during that second.    Smiley
3575  Economy / Economics / Re: The lack of shorting is a significant barrier on: June 02, 2011, 11:51:13 PM
no need to reinvent the wheel, research how this is done in normal markets.

Yeah, I gave up on the idea of doing it myself pretty quickly.  This is the essence of how it is done in real financial markets though.  Investment banks have custody of shares of stock that they hold for their customers and can freely loan them out to others.  They would of course have to return them to their original owners on demand, but shares of stock are fungible so they have a large pool to draw from.  And the loaning isn't an issue because they would only loan shares to people who had assets with the bank to use as collateral for the loan, so if you never paid it back they could force you to liquidate your holdings.

Ha!  You missed a couple of key steps in the security shorting process.

First is the shorting pool at the clearing house.  Say you want to short a stock.  Your broker borrows them from a pool and gives them to you.  You then sell them to someone.  That buyer has no idea that they just received borrowed stocks, and they think they own them.  So, the buyer's broker holds them, and makes them available to the pool so that the next guy can borrow them again.  (Side note: shares include voting rights, and now at least two people think they are allowed to vote, and all but one of them is wrong.)

Second is that the pool is totally unnecessary, since a broker can just fail to deliver (FTD) the shares.  They are supposed to settle all trades by day T+10, but for most brokerages, there is no rush, because:

Third is that there is almost never a downside for letting a transaction go into FTD status.  No jail time.  No fines.  Rarely a sternly worded letter.
3576  Economy / Economics / Re: How can i know, when difficulty gonna change?? on: June 02, 2011, 11:37:06 PM
Divide the current block number by 2016.  Subtract the remainder from 2016.  Your answer is the number of blocks between now and the next retarget.
3577  Bitcoin / Bitcoin Discussion / Re: Please test: Bitcoin v0.3.22 release candidate on: June 02, 2011, 11:27:52 PM
 You would have to patch the client to connect= on a different port, and those nodes would have to change their listen ports.

OK, thanks.  I did this and it seems to work fine.  The only change needed was GetDefaultPort() in net.h.  I do believe this is something that should be configurable from the command line.  Various entities could start watching/blocking port 8333 in an attempt to shut Bitcoin down.

One other question...how do I generate 64-bit binaries?  Compile from a 64-bit machine?  I don't see any switches in the makefile.

Why do you want 64 bit binaries?
3578  Bitcoin / Development & Technical Discussion / Another attempt to solve the offline chain swap problem (aka the 51% problem) on: June 02, 2011, 11:24:45 PM
What if we just made it harder to swap in a new branch of the chain the deeper the branch goes?

The criteria for deciding which of two chains is correct is that the one with the highest difficulty is the real chain.

Say we kept that criteria, only when the number of blocks we would have to replace (call it Y) is a small number, like 4 or 5 (call it X).  Also call the current difficulty D.  But, if Y is greater than X, we require the difference in difficulty between the two branches to be (2 ^ (Y-X) )*D.

Honest block races would still be resolved normally, as long as X was chosen appropriately.
The difficulty of retroactively forking the chain would grow exponentially the further back the fork needed to be to meet the attacker's objectives.

The only downside is that this would introduce a very tiny chance of a network split causing a fork that could not be repaired using ordinary means.  Note that the network split capable of causing this fork would be very, very unlikely, since it would need to be complete, nearly evenly split in terms of hashing power connected to each side of the split, and somewhat long lasting.
3579  Bitcoin / Development & Technical Discussion / Re: The 50% total hashing power - pooling flaw? on: June 02, 2011, 10:57:43 PM
http://forum.bitcoin.org/index.php?topic=9137.0
3580  Bitcoin / Mining / Re: pushpool - open source pool software on: June 02, 2011, 10:40:05 AM
The syntax is different.  Try this (lifted straight out of db-postgresql.c):

Code:
"SELECT password FROM pool_worker WHERE username = $1"
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