BTW, the most fundamental req. of any currency system is speed of the transaction. Unlike BTC, wherein it takes minutes for transactions to complete, microcash is nearly instant. This has been written from the ground up and designed for mobility.
How did you accomplish this feat? The reason bitcoin takes several minutes to confirm transactions (the transactions themselves are almost instant) is to prevent stale blocks resulting from network propagation delays, which would greatly reduce the effective hashpower of the network and basically allow anyone with the lowest network latency to take control of the network. How did you solve this problem? And the most fundamental requirements of a currency system are fungibility (one coin is just as good as any other of the same denomination), divisibility (you can easily make change for large amounts), and difficulty of counterfeiting (you can easily tell a genuine coin from a fake one). MicroCash falls flat on its face for the last point if you don't have a cold answer to my above question. notyep never answered this did he? You know, now that you mention it, he did. Although I didn't see it at first, buried in his wall of text he says that blocks are mined every 2 minutes. The fact that this contradicts both the screenshot he posted and his own statement that transactions are "nearly instant" says all I need to know.  |
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Passive heat sinks would work so much better in space where you can radiate heat out to the universe (background temperature of about 3 degrees above absolute zero). Just keep the sun side insulated.
Passive heat sinks require an extremely large area for high-power, low-temperature applications, so you'd likely be using up most of your payload mass for just the heat sink. It's not a very efficient use of resources. Is this the Star Trek section of the forum?
It's the Speculation section. We're speculating on the viability of asteroid mining and the effect it will have on the Bitcoin economy.  |
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Asteroid mining? Although solar power is more efficient in space than on Earth, you've got a big problem with heat dissipation (GPU fans don't work so well in a vacuum), so I don't think it'll work. Oh wait, you mean mining metal... never mind. |
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In matter of fact, I will continue to keep the Newbie community informed since they are the most important audience.
Why? Are you afraid that people with more experience in crypto-currency won't go for your brilliant scheme? What possible reason could they have for such scepticism? |
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MicroCash isn't released yet so the source isn't available. SolidCoin source has been available not far from when it was released, that is what I meant it's implied open source. The project it's spawning from is, why wouldn't we assume this is also? http://solidcoin.info/downloads.htmlScamCoin is open-source? Well, that put's a whole new spin on things. Let's see what we've got here... if(g_bTrustedMiningOnly && (pBlock->nBlockNum%2)==1 )
{
Sleep(100);
continue;
}
Huh. I've always wondered how trusted mining works. Now I know!  Does MicroCash work the same way? |
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A pyramid scheme built in sounds interesting... so Bitcoins pyramid block rewards (half the bitcoins block are worth 50 BTC, then half of that worth 25 BTC, then half of that worth 12.5BTC and on and on) aren't a pyramid but I guess having account fees go to every MicroCash user is a pyramid.....
MicroCash is a pyramid scheme because it steals from the poor to give to the rich. Bitcoin doesn't steal from anyone, and the block rewards are payed from a fixed and limited supply to those who take the time and effort to secure the network. It is not a pyramid scheme. |
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Why is there no mention of the source code being open source? Because it's implied it's open source? They may even be going back to a MIT license. You can't "imply" something's open source. Either the source is available for all to see or it isn't. So which is it? |
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Actually, it's the exact amount the majority of other people are willing to put up with. Which wouldn't be so bad but for the fact that the majority of other people just don't give a damn about their freedom.  |
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The OP never specified what OS he's using.
It doesn't even get to the linux main screen.
You're absolutely right. If he's using something other than Linux (and he never said he was), that would explain why it doesn't get to the Linux main screen. |
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My point was that the difficulty of buying BTC means that people are unlikely to do so just to deal with one merchant. If it were a little easier it wouldn't take much for individuals to convince their customers to try BTC. The difference between "I'll pay you with paypal" and "I'll use paypal to buy some bitcoins and pay you with that" is minor, the difference between "I'll pay you with paypal" and "I'll go down to the bank and pay for a wire transfer, wait for it to go through, then buy some bitcoins and pay them to you a few days later" is not.
Bitcoins are not difficult to buy at all. They're just difficult to buy using reversible payment systems, since bitcoin transactions are irreversible. There is absolutely no way around that. I'm not really sure why people (other than scammers) insist on using reversible payment systems. Cash is easy. Wire transfers are easy. Why do people insist on doing it the hard way? I have a few questions:
1. Is there some way to check the balance of a wallet with only the public key?
Enter the address at blockexplorer.com. Note that one wallet typically contains many addresses, including some which aren't displayed in the client, so the balance shown at blockexplorer may will be less than the total amount owned by that person. 2. How do online purchases with BTC work? How do they know I'm the one who sent the money? Is there any place I can see this in action without needing to fill out personal information?
The site will typically generate a unique bitcoin address for your specific purchase when you check out. Any bitcoins paid to that address are presumed to be your payment, since you're the only person who will ever see that address. 3. Isn't there any way to mitigate the risk of credit card transactions? What if you required a video interview and a copy of govt. issued picture ID? Is there a time frame in which a dispute can be raised? What if you agreed to pay out the bitcoins a little at a time, over the course of a year?
No. Video interviews are more effort than most people are willing to go through, and ID can be photoshopped. There's generally no time limit for chargebacks. You can avoid all these problems by just not trying to marry reversible and irreversible payment systems. It's just never going to work. |
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If your wallet.dat file was encrypted, your bitcoins can't be stolen (though if it's not encrypted, it's another story), but they are lost forever if you don't have a backup.
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NOOOO!!! The post count doesn't match the numbers!
Why does it matter? Because one post, one image, one number is just The Way It's Supposed To Be. It's just logical. Now stop ruining everything.  |
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Yes, putting the wallet.dat in the ~/.bitcoin directory will allow you to keep your coins, and putting blk0001.dat and blkindex.dat in the same directory will avoid having to download the blockchain again.
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Keep the numbers and the post count synchronised, please. I can't stress that enough. How else are we supposed to keep track of which number we're up to once we reach the millions? |
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NO! I just did 62! Why can't you people learn how to count? Please keep the numbers synchronised with the post count. Sorry I only know how to count to potatoes :/ I'm synchronizing the post count btw, we are at n+2 now, which is terribly wrong, we have to be at n+1 if you want it to be synchro :] Learn to count higher. And we're counting from one; that is, the first post was number one, the first reply was number two, and so on. For reference, this post is number 67 (as you can see next to the "quote" button). But thanks to you, I have to also include numbers 65 and 66.    |
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It's a gamble!
It's not really a gamble, it's more like a business: miners provide a service to the network (verifying and securing transactions) and receive payment for this service (the block reward plus transaction fees). Like any business, mining can be a decent way of making money if you know what you're doing and are able to keep your running costs down, but if you don't know what you're doing you're likely to lose money. You need to do your research and work out whether the expected returns from mining are worth the hardware and electricity costs. |
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Cryptic (yeah I'm bored)  NO! I just did 62! Why can't you people learn how to count?   Please keep the numbers synchronised with the post count. |
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NOOOO!!! The post count doesn't match the numbers! You ruined everything!!!   There, that's better. |
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Secure deletion requires knowledge of the filesystem and root access to the drive, and doesn't work in all cases anyway. Also, in most operating systems, "overwriting" doesn't mean what you think it does. Usually, the file to be overwritten is deleted and the new file is written to the largest available block of contiguous free space, which is not guaranteed or even likely to be where the original file was located. Actually overwriting a file securely generally requires root access to the drive and even that isn't guaranteed to work. So, yeah, there's not really much you can do, other than warn people that using unencrypted wallets at any time for any reason is a Bad Idea except in very specific circumstances.
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