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41  Bitcoin / Bitcoin Technical Support / Re: Help Me Help BitCoin (and possibly Tor Network) on: July 15, 2016, 05:45:08 PM
If you do it at all, you should do one at a time, especially since you're not experienced with either.
I can not give a dummies guide on how to set it up, just some thoughts that you should consider before starting.

For a Tor relay node, you'd need considerable bandwidth (look at https://www.torproject.org/docs/tor-doc-relay.html.en, they state that you should have at least 2 mbit/s.) ADSL connections normally don't have enough upload bandwidth, but cable internet might be ok. Of course, you should be able to run the node continuosly if possible, because intermittent nodes tend to introduce network problems until the network has reconfigured itself. Another thing to consider is the operating system: The description only covers the use of Debian/Ubuntu systems as Tor relays, I don't know whether Windows is supported at all.

A Bitcoin node needs less resources, but it is also only marginally useful when the bandwidth is limited and it's not online for considerable amounts of time. I run a node on my desktop linux system, but as the computer is only running when I use it, it's not really that useful to the rest of the network. After running for several hours, it begins to be "profitable" for the network, i.e. it shows more upstream data than downstream consumption, so it has carried some of the weight, so to speak. But when I only run it for a short tim, it just consumes bandwidth to sync the blockchain and does not have time enough to provide useful service. I do it for historical reason, but unless your computer is running continuously, I would not recommend it.

Of course, it you have a machine rented in a datacenter (hardware or virtual,) you could run such services on your machine, they normally have vastly better bandwidth than home internet connections. Many bitcoin nodes run on such servers, but of course it costs money to operate them. The lowest-level virtual private servers are probably not sufficient, though.

Just running a bitcoin node or Tor relay does not give you any benefit (except maybe the satisfaction that you're helping a project that you consider worthwhile.) If you operate a business that deals with bitcoins it is good to have a well-connected node, as you don't depend on external services. There is no advantage in transaction processing though, and you can't make money from it.

Onkel Paul
42  Economy / Economics / Re: } A WORLD WITHOUT CREDIT { on: July 14, 2016, 03:10:47 PM
I see two problems (and no real solution to them):

one - the concept of a world without credit. Except for really primitive direct exchange of goods, all economical interaction works with credit. This does not necessarily mean a bank loan with interest, but it's very often not avoidable to trade real goods or services for promises of goods or services to be repaid later. Boom, there you have your simplest form of credit. Cash is only a very special form of credit (anonymized reverse credit) so an economy using cash has implicitly built credit into it. You just can't avoid it.

two - the "pay forward" approach of your website, while ethically very commendable, will most likely not work in practice. People who pay for other's needs or wishes will expect to get money for their own needs/wishes later, and will be very disappointed when at a certain point they find out that they are the last ones who paid, but nobody is there to pay for them. It kind of works in a legally enforced system like the public pension systems in european countries where workers pay for the pensions of those who are older, but even there a misbalance between numbers of workers and number of pensioners leads to serious problems and unfulfilled expectations.

Another problem that would probably surface in your website is that trust systems will break down without a mechanism to identify cheaters and hold them responsible. This hampers quite some bitcoin businesses as you need to either trust the company when you send them bitcoins, or they need to trust you as the customer when they send you goods and expect later payment. There are a number of prominent examples for the first case where businesses have closed shop and the outstanding bitcoins disappeared with the owners. The second case is much rarer (nobody in their right mind would deliver to an anonymous customer without a reasonable expectation that the customer will pay).

Onkel Paul
43  Economy / Speculation / Re: Predict the price: Halving day 2020 on: July 10, 2016, 07:12:37 PM
Somewhere between 10k$ and 100k$, depending on political development. Bitcoin exchange value can't be sustained from speculation only, there must be real use by real people, and that depends on bitcoin-friendly legislation. Dark markets will always be a part of it but can't be the main driver. When bitcoin becomes an accepted solution for remittance services or for online payments the transaction volume measured in fiat currency will increase significantly, and that can only happen with higher exchange rates.

Onkel Paul
44  Other / Off-topic / Re: Old people earning bitcoins on: July 09, 2016, 07:24:59 PM
As someone from this age group, I have to disappoint you - older people may well do sig campaigns, run bitcoin businesses, do all kinds of funny stuff.
However, most of us have enough life experience to avoid falling for most of the scams, and keeping calm while the exchange rate skyrockets...
You should never underestimate our abilities and diverse interests :-)

Onkel Paul
45  Local / Trading und Spekulation / Re: Der Aktuelle Kursverlauf on: July 09, 2016, 04:46:43 PM
Da isser. Happy Halving!
46  Local / Trading und Spekulation / Re: Der Aktuelle Kursverlauf on: July 09, 2016, 04:26:44 PM
Jetzt is großer SALE oder wie?
Kraken gerade um 6% runter

Da will einer seine Bitcoins schnell loswerden, bevor sie nur noch die Hälfte wert sind :-)

SCNR,
Onkel Paul
47  Local / Anfänger und Hilfe / Re: Bitcoins "aus dem Nichts erhalten", was nun? on: July 07, 2016, 05:30:57 PM
Hört sich ziemlich unglaubwürdig an - die Story ergibt einfach keinen Sinn.
Auf einer Adresse, die keiner kennt, taucht nicht einfach eine Bitcoin-Transaktion auf, insbesondere nicht mit Vorankündigung per Mail.
Bevor man sich näher mit der Geschichte beschäftigt, solltest du wohl schon ein paar Fakten auf den Tisch bringen, was für ein Wallet und was für eine Adresse das ist.
Der Verdacht mit Phishing ist sehr naheliegend.

Onkel Paul
48  Economy / Currency exchange / Re: New to bitcoin, live in indonesia. want to buy $2 worth btc with local bank. on: June 18, 2016, 02:53:36 PM
You might want to ask in the indonesian subforum: https://bitcointalk.org/index.php?board=191.0
Although Indonesia is big, it might be possible that you find someone there who is willing to trade with you.
Be aware of potential scamming, though - as a newbie, you will most likely be required to send money first, and if your trading partner is not trustworthy, they might just "forget" to send you the BTC.

Onkel Paul
49  Economy / Speculation / Re: Unnatural Bitcoin Price Growth Cannot Be Sustained Indefinitely on: June 17, 2016, 07:44:11 PM
The recent price movement is most likely triggered by anticipation of the upcoming mining reward halving.
I suspect that at least some part of the rise is caused by deliberate pumping activity (probably by miners who need to make sure that their mining rewards are sufficient to keep their operation running even after the halving). The risk with such a pumped exchange rate is that it can't be sustained, but in this case the pumpers don't have an incentive to become dumpers after the price rise, so it might stay around $700-$800 for a while. I don't really expect a true "to-da-moon" development, but as market participants are irrational humans, it may happen anyway... In that case, a hard drop is probably inevitable, but most likely it will fall to current levels, not much lower.

Onkel Paul
50  Economy / Speculation / Re: Oldtimers, how does this rally make you feel? on: June 17, 2016, 07:26:06 PM
Pretty relaxed, as I'm not a trader and don't hold much BTC. Just watching this interesting experiment and having fun at it.
If BTC should crash really hard I won't lose much, as I did not invest much in the first place. If it goes to the moon I'm happy with the results even though I won't be able to buy a car or house with my BTC in the foreseeable future :-)

Onkel Paul
51  Local / Suche / Re: Suche Bitcoin in Düsseldorf gegen Bargeld on: June 11, 2016, 10:45:40 AM
Falls du ein Android Handy hast, kannst du mit der Mycelium Wallet App und dem "local trader"-Feature Händler in der Umgebung finden. Das funktioniert (aus meiner mageren Erfahrung heraus) sehr gut. Rund um Düsseldorf gibt es ne Reihe, einige haben auch akzeptable Kurse :-)

Onkel Paul
52  Economy / Speculation / Re: What is halving. Is it really profitable ? on: June 09, 2016, 06:33:32 PM
For one thing, please learn to google, folks! It's not as if the secrets of halving have only been shared within an inner circle of enlightened bitcoin followers.

That said, its effect on existing wallets is exactly zero - one bitcoin stays one bitcoin. Only the generation of new bitcoins is reduced by half.
For the miners it means that they get half pay for the same amount of work. Since miners do their work with electric energy which must normally be paid for, this makes mining less profitable than it was before the halving. However, it is possible that the recent price hike was at least in part orchestrated by miners who want to ensure that even after halving, their mining rewards will still be valuable enough to pay for the costs.

Onkel Paul
53  Bitcoin / Bitcoin Discussion / Re: Is the price of bitcoin important? on: May 28, 2016, 10:34:16 PM
Of course, a stable "price" is desirable in the long run, however, it is unclear to me what a fair stable price would be. It depends on the economy and the speed at which goods/services and money are exchanged.
Consider a hypothetical example just using bitcoin as a payment for manual labor: if all work done by all humans on earth would be paid for in bitcoins, and everybody would get their wage at the end of the month, then the value of one bitcoin must be high enough such that this payment can happen using the "free bitcoins" available to employers.
Simple-minded calculation (may be off by two or three orders of magnitude): there are around 7 billion people, of which maybe half work for money. Average annual hours per worker are between 1400 and 2200, so monthly hours roughly between 120 and 190. Let's assume 150 for the sake of simplicity.
That would be 3,500,000,000 * 150 = 525,000,000,000 hours of work. If the total possible number of bitcoins (about 21,000,000) were used to pay the wages, one bitcoin would need to pay for 25,000 hours of work. Hourly wages differ considerably, of course, I'll just assume 1 Dollar for the sake of simplicity, too. This is quite a bit lower than actual wage in high-end economies, and a bit higher than actual wage in low-end economies.
Under these assumptions, the value of one bitcoin should be at least 25,000$ to be just sufficient as salary for all of earth's workers. Naturally, you'd need to consider that goods need to be bought and that people would hold savings, and that a good chunk of the 21 million bitcoins might be lost and thus not available, so the actual value would be quite a bit higher.
In reality, it is very unlikely that the world wide labor force (or any significant part of it) will ever be paid in bitcoin, let alone the goods on global markets, so I would not bet on such an outcome.

Onkel Paul
54  Bitcoin / Bitcoin Discussion / Re: No new blocks for over 40 minutes on: May 24, 2016, 08:09:22 PM
Don't like it? Create your own blockchain.   Roll Eyes

In the meantime, you might want to educate yourself on stochastic processes and the distribution of time between random events (finding a block is essentially a random event.) 40 minutes is not outlandish, There were 1-hour gaps and probably more. On the other extreme, sometimes a new block is found after a few seconds, it's just that the difficulty adjustment keeps the average block rate to about 6 per hour.

Onkel Paul

Update: 5 blocks within the last 20 minutes... satisfied now? Grin
55  Other / Beginners & Help / Re: Looking for any card to print and write bitcoin wallet seed phrase on: May 22, 2016, 06:37:02 PM
Looks like there isn't a ready-made form (I presume the one provided by ledger is not available in digital form, so you most likely won't find a copy of that one).
Time to start up the word processor of your choice and get creative! Recreating a form like that isn't really hard, you could probably do it in less time than it took me to look for the file on the internet and write this response.
Alternatively, for 0.01 BTC I'll design one for you (PDF file, you need to print it out yourself)  Grin

Onkel Paul
56  Economy / Service Discussion / Re: Base64encode it can help to secured your password? on: May 21, 2016, 08:05:23 PM
Guys did you try base64encode to increased your security of your wallet?
All my password are made by base64code that you can find here https://www.base64encode.org
Maybe it will help to all of you to increase security if your wallet.. Just paste your password and get the result.. you can also decode the encrypted password from encode page..

You don't seem to have grasped the difference between encryption and encoding.
Base64 is an encoding scheme that allows one to represent binary data as text strings.
Encoding your password in base64 does not increase the security (unless your password was easily guessable in the first place but the cracker did not consider base64 encoding), and entering a secure password on some web could make it insecure...
I don't think that base64encode.org is particularly suspicous, but why risk sharing your password with someone else?

Onkel Paul
57  Other / Archival / Re: Have you ever make a donation with bitcoin? on: May 21, 2016, 06:15:02 PM
Actually the Tsunami disaster in Japan was one of the key motivators to investigate bitcoin as a way to securely transmit money to local organizations without paying incredibly high fees to the banks.
In the end, it did not work out, so the money went to another trustworthy relief organization who had local accounts.
But I've bought a bit at Humble Bundle, and donated to free software projects that I use. Relief organizations are often too conservative to consider bitcoin, although it would be a perfect match.

Onkel Paul
58  Local / Trading und Spekulation / Re: Der Aktuelle Kursverlauf on: May 21, 2016, 05:54:03 PM
Nur mal so ne dumme Frage: Ist es nicht möglich mit irgendeiner vorhandenen Hashpower (Bitcoin?) die Blockchain von Ethereum in viele kleine Stücke zu hauen? Nur mal so als Demo, was der Unterschied in Sicherheitsfragen zwischen BTC und ETH ist?

Ich habe mal irgenwo vor längerem gelesen, dass pro Proof Algo auf Dauer nur EIN Coin überleben kann, eben wegen der Möglichkeit dieser Angriffe.

Wer sollte das tun, und warum?
Die Miner, die über ausreichend Hashpower verfügen, benutzen sie, um Bitcoins zu erzeugen. Was könnten sie durch eine (Zer-)Störung von Ethereum gewinnen? Von so einer Sicherheits-Demo wird ja niemand satt...

Onkel Paul
59  Bitcoin / Bitcoin Wallet for Android / Re: Overwritten new wallet with coins with old backup on: May 20, 2016, 11:19:53 AM
Unless you're really lucky and find a way to recover from that backup file, you've probably just lost the money.
That happens to people all the time when they deal with money while they better shouldn't :-(

In hindsight, what you should have done (I know this comes too late):
- make a backup of your wallet as quickly as possible (such a backup works even if you receive coins later, because depending on the type of wallet key generation it covers a moderate amount of future keys, or all future keys for HD wallets)
- don't handle money while being drunk, drowsy, sleepy etc. unless you know perfectly well what you do and can take the risk of mishandling it (such as paying your bill after an evening at a bar.)

Onkel Paul

Have you looked at http://bitcoin.stackexchange.com/questions/29586/how-do-i-extract-my-private-keys-from-a-protobuf-wallet already? It won't help if you can't find the password that you used for the wallet, but might help you to spot mistakes that you might have made during your attempts at recovery. I don't use that wallet app, so I don't have first-hand experience with it.
60  Bitcoin / Bitcoin Discussion / Re: Trustless crowdfunding in bitcoin on: April 24, 2016, 06:47:05 PM
I believe with plain bitcoin this is not possible, as the things you can do in a script are pretty limited. However, Ethereum should be able to do it, I just don't know how you'd write it exactly (note to self: read some stuff on EtherScript.)

The "swear jar" example on the EtherScripter.com site should serve as a suitable starting point: http://etherscripter.com/0-5-1/

Onkel Paul
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