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461  Economy / Services / Re: PB Mining -- 5 year mining contracts! on: December 07, 2014, 08:13:41 AM
My guess is we will not hear anything anymore from the PBM guys.

Disagree. The bitcoins are sent. Soon we will see them in our accounts.

How do you know they were sent?
462  Economy / Services / Re: PB Mining -- 5 year mining contracts! on: December 07, 2014, 08:08:43 AM
Interesting: go and try to buy a new contract.

This is what pops up:

Our hash power is currently sold out.

 Cheesy Cheesy Cheesy

Well I lost in there something like 50 euros... I see there's some people have put thousands of BTC at work in there... probably lost fortunes... I feel it guys.
463  Economy / Services / Re: PB Mining -- 5 year mining contracts! on: December 07, 2014, 08:04:47 AM
I not understand also. This weeks payout must be higher than last weeks because negative difficult jump? (correct me if i am wrong)

But i looks like it is way lower?

If I don't make a mistake, the difficulty just decreases very slightly and the network has not been finding blocks at the same rate as before so the rewards should be lower in average.

I don't think this is the right reasoning, in fact it's exactly the opposite.
Increase in difficulty does mean that there is more calculation power and the system cuts down on finding coins, decrease in difficulty means there is less computing power so the system makes it easier to find coins.

The semilast difficulty increase was very low: so existing miners should have found around the same coins than before.
Despite this, the semilast payout from PBM was lowered like if the semilast difficulty increase was around 10 or 15%.

Now the last difficulty increase... was a decrease and oh! Look! It's Sunday and for the first time PBM didn't pay!
My guess is we will not hear anything anymore from the PBM guys.
464  Bitcoin / Bitcoin Discussion / Re: Quantum computers: possible menace to Bitcoin? on: July 15, 2014, 01:49:38 PM
If quantum computers were actually available (at least to someone) and were effectively able to successfully attack cryptographic algorhitms, there would be a lot more profitable ways to use them; and, if one really wanted to use them against the Bitcoin ecosystem, cracking private keys would be a quite more useful target than mining.

The profitable way to use these kinds of technology would be to simply mine altcoins on a multipool, trying to do anything else would likely cost more then it would generate in revenue.

If they were a viable menace to cryptography in general, every secure communication in the world could potentially be compromised, including web sites, digitally-signed emails, and so on. If that stage was to ever be reached, I'd be a lot more worried about credit cards and bank accounts than Bitcoin wallets.

Because you are thinking like a robber, not like a central bank director.
465  Bitcoin / Bitcoin Discussion / Re: Quantum computers: possible menace to Bitcoin? on: July 15, 2014, 04:18:39 AM
If quantum computers were actually available (at least to someone) and were effectively able to successfully attack cryptographic algorhitms, there would be a lot more profitable ways to use them; and, if one really wanted to use them against the Bitcoin ecosystem, cracking private keys would be a quite more useful target than mining.

The profitable way to use these kinds of technology would be to simply mine altcoins on a multipool, trying to do anything else would likely cost more then it would generate in revenue.

But we are not here to talk on how make them profitable, but if they were a good resource to destroy Bitcoin.
466  Bitcoin / Bitcoin Discussion / Re: Quantum computers: possible menace to Bitcoin? on: July 15, 2014, 03:10:18 AM
Maybe. I hope so.
But I find it strange that banks are not taking countermeasures to blast it off.
I didn't see any serious attempt to kick Bitcoin off the moon, and this scares me a bit.
467  Bitcoin / Bitcoin Discussion / Re: Quantum computers: possible menace to Bitcoin? on: July 15, 2014, 02:47:20 AM
OK so let it be about quantum computers.

Let's assume that a fellowship of banks want to destroy Bitcoin.
They buy computing power from a couple supercomputers and make, in a single 2 weeks session, jump the difficulty to the stars, so that mining becomes highly unprofitable, so pushing miners away from the business.
They would hold this status until they see most if not all left the mining business, then drop the renting of supercomputing power.

Is this a possible scenario?

Based upon the number and type of questions you're asking, my guess is you haven't done a lot of personal research about Bitcoin.

First, despite what anyone is telling you on this forum, *nobody* here knows what the true state of quantum computing is like.   It's been asserted in this thread that quantum computing is nowhere near the point where we can crack SHA-256 with it.  This is almost assuredly true given that there is no known instance of quantum computers wreaking utter havoc on everything.  I'm pretty certain that if such an advanced computer existed, someone somewhere would have blown something up with it a long time ago.  But, when you go off talking about supercomputers, this is different than a quantum computer.  Currently, even an entire cluster of supercomputers wouldn't push the difficulty very high -- the network is currently *far* more powerful.

Second, if that's the best plan you think a bank could come up with, let me tell you something -- it sucks and is somewhat laughable.   As I just alluded to, supercomputers would definitely not be the way to go here.    Forcing some type of scenario where the profitability of mining drops to zero or becomes negative is somewhat pointless if all you're trying to do is stop people from mining.  Mining will always move towards an equilibrium between cost and benefits -- if difficulty increases to a point that threatens profitability, miners will drop out, and when the difficulty goes back down after they drop out, you'll see miners jumping back on board.

Third, even if you did have a quantum computer that was powerful enough to crack SHA-256, then believe me when I say there are a *lot* more profitable targets than Bitcoin.  

Fourth, what would it matter if they "drop the rent of supercomputing power?"   Aside from the fact that I mentioned earlier that supercomputers are little wimps compared to the Bitcoin network, how would making hashing power more affordable threaten the network?  

Currently, as I see it, the easiest way for a large entity to kill Bitcoin would simply be to buy enough ASICs to gain a majority share of the network hashrate so they can control it at will (or just buy and sell a large, random number of BTC every day to make it intolerably volatile for an indefinite period, but let's forget about that one for now).  A few billion dollars ought to be enough.  But then the question comes -- "WHY?"

Why spend a few billion (which, even for a bank, is a sizable amount of money) to kill a market that's only worth a few billion in the first place?  All this likely means is that one bank is now out a few billion dollars and are thus economically weaker compared to their competitors (i.e. other banks) who never spent even a penny.  Is a bank really going to sacrifice market share to its competitors based upon some *potential* treat?  Now, if the market cap of Bitcoin was tens or hundreds of billion dollars, this would imply that the network hashrate is many times greater, and now it becomes difficult for even a bank to scrounge up enough money to purchase the hardware required to gain a majority share of the network.

TL;DR:  Bitcoin has natural incentives built into it's core model that dissuade people from attacking it.

Great post, thank you Smiley

As for the WHY question, in this YOU may have to think a bit better.

For the same reason we think Bitcoin will waste banks, banks will one day understand what's happening and WILL probably take any measure to blast it off.

Besides, bilderberg are an interesting club, rotschild is an extremely rich family... if these organizations decide to take action against something that is mining (!!!) their grounds for billions of dollars, they will be glad to spend billions of dollars to protect their markets.
468  Bitcoin / Bitcoin Discussion / Re: Quantum computers: possible menace to Bitcoin? on: July 14, 2014, 10:18:56 PM
OK so let it be about quantum computers.

Let's assume that a fellowship of banks want to destroy Bitcoin.
They buy computing power from a couple supercomputers and make, in a single 2 weeks session, jump the difficulty to the stars, so that mining becomes highly unprofitable, so pushing miners away from the business.
They would hold this status until they see most if not all left the mining business, then drop the renting of supercomputing power.

Is this a possible scenario?

Bitcoin price skyrockets due to its limited nature. Miners are rich from past reserves. Bank gives up. Miners earn money from transactions.

Eth.

Banks are much more rich than miners.
Banks can keep up mining without rewards (i.e. losing money) much more than actual miners.
Miners don't earn enough money from transactions at the moment. In the future, when billions of people will use BTC, yes, but now, they don't.

BTC price will skyrocket when mainstream will kick in.
Don't know when this will happen yet.
At the moment only geeks, speculators and anarchists are jumping on the Bitcoin wagon.
469  Bitcoin / Bitcoin Discussion / Re: Quantum computers: possible menace to Bitcoin? on: July 14, 2014, 04:15:07 PM
OK so let it be about quantum computers.

Let's assume that a fellowship of banks want to destroy Bitcoin.
They buy computing power from a couple supercomputers and make, in a single 2 weeks session, jump the difficulty to the stars, so that mining becomes highly unprofitable, so pushing miners away from the business.
They would hold this status until they see most if not all left the mining business, then drop the renting of supercomputing power.

Is this a possible scenario?
470  Bitcoin / Bitcoin Discussion / Re: Quantum computers: possible menace to Bitcoin? on: July 14, 2014, 06:13:55 AM
Anyway, by the time quantum computers are available for the public, all bitcoins have already been mined...

Do you think quantum's will be ready for the next 5-15 years? no way...

Eth.

The next question would be. How would quantum computers do if they can make it next year(Economically)? Spend million bucks for a handful of BTC? And then what? One could gain BTC efficiently by buying it. Using Quantum Computers doesn't seem logical.
Just to play the role of devils advocate, what if something were to happen like the professor that was banned from using the supercomputers? One could simply "borrow" a quantum computer to mine bitcoin for some temporary period without paying anything.

As was pointed out above quantum computing would not be a very efficient way to hash.

I can't understand why you say this.
For the little I know, quantum computing should empower cpu by 1000 of times.
Maybe we still don't know how to code with qubits?

But apart this, I can't see how a qubit, that can be in many superstates at once, can't be a much more efficient way to hash away numbers.
It should be super efficient exactly in that, because it would make many more tests per second than cpu with 0-1 bits.
471  Bitcoin / Bitcoin Discussion / Re: Can somebody explain me this double spending? on: July 12, 2014, 11:59:44 PM
Thank you everybody for your help clarifying what's going on.

Still, there's something unexplained.
How can a merchant even ISSUE two times a spending of the same bitcoins?
How can this happen in an "automated" way, because I suppose I can't double spend my bitcoins from my bitcoin wallet, right? So it must be something coded somewhere, right?
And if this is coded, how to trust the issuer of those bitcoins again?



Oh, scary! When buying with bitcoins in a shop for example, then it's too long time to have to wait 10 minutes for the transaction to be completed. Doesn't this mean that people could use hacked wallets that double spend all the time?

websites such as overstock. take days to deliver goods. so its easy for them to wait for confirmations. but as for the "starbuck's" scenario of waiting 10minutes + for payment before they even pour the coffee into a cup. that is simple to get around

PRE-PAY (research: officially called offchain transactions)

imagine starbucks had their own online wallet service you register and deposit lets say a weeks worth bitcoins for coffee and cookies. and thats confirmed on the blockchain. and starbucks 'credits your account with that X btc

now when you physically walk into starbucks you pay using the starbucks wallet and pay through the wallet. the starbucks wallet is nothing more then a sql database balance to show how much people have pre-paid.

that way starbucks know they are getting paid, because technically they have already been paid. the customer is just agreeing to drop his balance by X amount on the stabuck sql database (offchain).

I agree that Bitcoin times are too long for everyday shopping.
But I think this will be replaced by some web wallet service, there are already many and it's easier to rent some service like this than to build own infrastructure, I think.
472  Bitcoin / Armory / Re: Armory-QT DISAPPEARED on: July 12, 2014, 10:13:59 PM
Just checked and there's no history practically (only 1 entrance from a USB memory card from outside), because it only tracks scans and not shields, and because I always have shields up I never do full scans... so I can't know if it's responsible.
It probably doesn't even document it, if it wasn't windows itself then only option is antivirus action, isn't it?

I don't know but if this will happen again the first place where I'll look into will be Avast.
Sure is this come strange, because I may have skipped the warning once, but not twice.
If you want to be sure, add it to exceptions list if avast has this option.

Yes it has it of course, but I want to understand if Avast is the problem.
473  Bitcoin / Armory / Re: Armory-QT DISAPPEARED on: July 12, 2014, 10:07:37 PM
Just checked and there's no history practically (only 1 entrance from a USB memory card from outside), because it only tracks scans and not shields, and because I always have shields up I never do full scans... so I can't know if it's responsible.
It probably doesn't even document it, if it wasn't windows itself then only option is antivirus action, isn't it?

I don't know but if this will happen again the first place where I'll look into will be Avast.
Sure is this come strange, because I may have skipped the warning once, but not twice.
474  Bitcoin / Armory / Re: Armory-QT DISAPPEARED on: July 12, 2014, 07:37:51 PM
Just checked and there's no history practically (only 1 entrance from a USB memory card from outside), because it only tracks scans and not shields, and because I always have shields up I never do full scans... so I can't know if it's responsible.
475  Bitcoin / Armory / Re: Armory-QT DISAPPEARED on: July 12, 2014, 06:19:50 PM
Are you sure windows didn't remove it as unused program?

Never heard of this thing... and I switch off the "auto cleaning" stuff in Win.
Also, it wasn't uninstalled: all the program folder was there, only the exe were missing.
Yes, windows sometimes asks if it can delete unused shortcuts at least it happend few times to me it doesn't uninstall the whole program, just the shortcut. 

But I didn't lose the shortcut, the shortcut was in the Start menu... the exe disappeared in the program folder.
Hmm...then antivirus had to do it probably, what one do you use? I know it didn't warn you but you may have overlooked it or it could do it without asking.

I use Avast since 10 years, never had a problem with it.
I'll check its actions history.
476  Bitcoin / Armory / Re: Armory-QT DISAPPEARED on: July 12, 2014, 04:46:46 PM
Are you sure windows didn't remove it as unused program?

Never heard of this thing... and I switch off the "auto cleaning" stuff in Win.
Also, it wasn't uninstalled: all the program folder was there, only the exe were missing.
Yes, windows sometimes asks if it can delete unused shortcuts at least it happend few times to me it doesn't uninstall the whole program, just the shortcut. 

But I didn't lose the shortcut, the shortcut was in the Start menu... the exe disappeared in the program folder.
477  Bitcoin / Armory / Re: Armory-QT DISAPPEARED on: July 12, 2014, 02:35:38 AM
Are you sure windows didn't remove it as unused program?

Never heard of this thing... and I switch off the "auto cleaning" stuff in Win.
Also, it wasn't uninstalled: all the program folder was there, only the exe were missing.
478  Bitcoin / Armory / Re: Armory-QT DISAPPEARED on: July 11, 2014, 09:27:51 PM
Is it possible that your anti-virus is thinking Armory is a virus and removing it? Try seeing if Avast keeps a history of virus removals.

It didn't warn me at all.

Now, I reinstalled after uninstalling.
The new installation found the old wallet and is in INITIALIZING BITCOIN ENGINE, stuck there.

EDIT: Never mind, it finally begun syncing.
479  Bitcoin / Armory / Armory-QT DISAPPEARED on: July 11, 2014, 08:07:49 AM
It's not the first time this happens.
I installed Armory some months ago, and I remember I found it somewhat cumbersome for my tastes.
After some time, I saw the icon missing.
Checked, and the program wasn't there anymore.
I uninstalled and ok.

Now, some days ago I reinstalled it.
Today I check: missing icon.
Check the folder: missing program.
Any idea?

I have Avast and never got any virus on my computer.
480  Bitcoin / Bitcoin Discussion / Re: Can somebody explain me this double spending? on: July 10, 2014, 06:06:21 PM
in normal bank note terms a double spend is when you hand someone a $10 note, they mistakenly hand it back as change and you can spend it again..

in bitcoin terms it SHOULD BE:
where a bitcoin is sent to 2 destinations (transactions) and both get confirmed..

this true double spend NEVER has happened and cant under current bitcoin conditions.

but anyone can send out the same transaction twice. but only one will get confirmed, and the other transaction wont get a confirmed bitcoin to use.
now the problem is that some places accept unconfirmed transactions and release products, goods or services even before its confirmed, which from a human observation of handing out funds and receiving goods is considered a successful double spending. but observing the blockchain is not a successful double spend.

basically do not hand out goods, services or products before the received coin is confirmed, and you dont have to worry about double spends

https://blockchain.info/double-spends
Quote
Double spends on this page may be unintentional. In the event that a double spend is maliciously crafted being listed on this page is no indication that it was successful or any merchant or user lost money as a result.

in short:
you wont find a single output being used twice where both destinations get confirmed, its purely about the merchants noobness to hand out funds/goods before confirmed

OK this is good info and good explanation, thank you, but then how do you explain the warning given in this data when the source is a trusted one?
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