I don't understand how your proposal would prevent pool mining.
The pool creates the header, puts their address in there, and sign it. Then they send it out to the "miners" to search for the hash.
When a "miner" solves the block, the pool broadcasts the block and gets paid. Then in a later block, they split up the payment among all the participants.
What am I missing? Is there something implied in your description that I didn't notice?
You're missing the fact that the nonce and the merkle root are part of the header, so the pool manager cannot sign the header without counting over all nonces himself. Ah, I see what you are suggesting now. Unfortunately, it wouldn't stop pooled mining at all. All it would do is create a financial barrier to entry for small miners. All the pool needs to do is: - Require a deposit from every participating miner that is at least as large as the largest blockreward
- Issue each miner their own private key that the pool knows about.
Then the pool can monitor the blockchain to see if any coinbase transactions go to any of the addresses that were issued by the pool. If so, the miner will be expected to allow the pool to split the reward up among the participants. If the miner tries to "steal" the reward, then they forfeit their deposit (which will be split up among the pool participants). Even this would provide incentives to not mine on pools as the cost of entry would be very high. When pools get to be too big then it will be difficult for miners to move to smaller pools. It would also potentially make it so miners would not mine at all, thus decreasing the security of the network. |
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Asking the highest amount is going to result in a flawed statistic. Greater Tokyo is one of the world's biggest mega metros (36 million), so naturally Tokyo therefore would probably have the most Bitcoin users.
Per capita and per person, on the other hand, Vancouver and then San Francisco are likely the leaders in Bitcoin adoption.
Mind you it's not much of a race. There's only a few thousand Bitcoin merchants in the world and a lot of them are really niche novelty services. Can't afford a Tesla so I can forget about that. No interest in Tattoos or Cannabis seeds.. What does that honestly leave me with? We need way more restaurants and supermarkets to take on BTC but the confirmation times I think scares them away.
Bitcoin's use for me is arguably for international travel and remittance. Border control restricts me from taking more than $500 abroad and oversea ATMs charge me $2 - $5 to withdraw funds in the local currency (even though I am using VISA which is everywhere). Bitcoin allows me to get past that with ease.
I would say that per capita would be a more accurate measure of bitcoin usage then total population of users. Most other population related statistics are measured that way, crime rate, poverty rate, birth rate, death rate, home ownership, ect. |
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i just suggest you dont choice cloud mining, more profit if you use your own miner gear,
i have try cloud mining but my earning very slow than my gear even though I use the same speed
Cloud mining is for people who are not able to tend to the day to day tweaking of miners. |
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Did he buy at ~1$ and sell at ~100$? If he would have holded till 1000$ he would have that million dollar now  I think he bought at around $10 and sold around $1,000 |
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I'd love to buy one of the cheap atms and can afford one, but who has to load it with BTC? I can see businesses losing out if they have to personally credit it.
Most of the Bitcoin ATMs are connected to one of the major Bitcoin exchanges, although there is an option to store BTC as well. It is your choice. And some of the ATMs are really cheap. The Skyhook ATM comes for only $999. Even if your ATM is connected to an exchange you will still need to keep fiat at the exchange. If someone puts in $100 to buy $100 worth of bitcoin, you have no way to instantly transfer that cash to the exchange to pay for the bitcoin you will pay them. Exchanges will often also not process bitcoin withdrawals instantly so the ATM itself will need to have some level of BTC in it's hot wallet so it can transfer bitcoin to your customer's wallets. You could open a line of credit with the exchange or could use a letter of credit that would guarantee payment to the exchange in the event of your nonperformance. |
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Amazon will never consider btc as they have their own payment services
Bet on it then I dare you. They would likely be able to increase profits by accepting bitcoin by a greater amount then what their payment service will potentially generate. |
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I've always thought that contacts are for people you don't trust - something that you can hang over their head when they do you wrong. Why would you need a contract with your spouse?
I just prefer determining those things privately than through the state. More than anything, this is experimenting with breaking one of many social conventions most people grant as monopoly to the state to oversee. If you agreed to something in private then how would you enforce it without the state? |
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I read an article that had a headline of "Bitcoin sponsors football game"
It was not until towards the bottom of the article was it revealed that it was actually bitpay that was sponsoring the game
I remember thinking "are the miners giving up part of their block rewards to pay for this" while reading the article
(Almost) No one would object to Bitpay sponsoring a bowl game and using the word 'Bitcoin', but what if someone "truly objectionable" sponsors (for example) illegal dog fights and uses the words "Bitcoin K9 Battle". ^^^ Who controls the usage of the word Bitcoin, and what gave Bitpay the right to use it? (keeping in mind that someone "bad" might also want to use the word in a sponsorship) bitcoin is not owned by anyone and therefore not controlled by anyone. Using the word "bitcoin" is like using the word "dollar" as anyone can use it. There is one level of protection from this kind of issue as most "sponsorees" do not want to be associated with nefarious entities or actions. If someone were to advertise illegal (or legal) bitcoin dog fighting then most events would not accept the sponsorship as they would not want to be associated with dog fighting. |
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Also, why is paying $400k to some shady country who suggests you don't even visit them, any better than paying some shady country $340,000 who will let you stay there, provide (albeit questionably) roads, educations, social care etc?
Okay, so you can say "well this service is only for rich people who would save money" - how is that any better? "If you're rich, we'll help you prevent paying tax" - well what about all those people that need the most financial help, those who aren't rich?
I know a lot of people here are against tax, and that's fine. But I also thought people here were against the promotion of mentality "those with enough money get to join a special club where it's okay to exclude those less fortunate". How is that mentality any better than the mentality of corrupt bankers and politicians?
You are not actually paying the 400k to the country, you are only investing 400k in the country (the OP article has people investing in real estate) and would own the investment. You only need to keep your investment for 5 years. If your investment strategy is to invest in real estate in similar places this would not be as bad of an idea. |
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I'm not very well educated on this subject, but I know it would be possible to crack private keys if you just had enough computing power (like, a lot). Is it possible to estimate a time frame for this using Moore's law?
Millions of years, that including moores law. Banks will be hacked before a single bitcoin wallet will be compromised. (Not counting careless persons who get their private key stolen). Regarding the full nodes, bitcoin was designed not to trust anyone, running a full node yourself is the best way to do this as otherwise you need to trust a 3rd party node. I'm sure the bitcoin developers understand this and will do everything they can to keep the bitcoin core viable for everyone. Everyone who wants to run a node can (and should) do it. I'm currently not running a dedicated node yet, but I will at some point. However my gaming computer is a node when it is on (it's off during the night). QT connects to multiple nodes and will only connect to nodes that are "trusted" by the network, eg not ones that relay invalid TX or other TX that should not be relayed. |
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I have engaged in alot of arbitrage over the years, though I must say that in BTC and LTC at this point, there is little spread, even with the most advanced bots (i don't think there are really such fast HFT bots in this space yet), you still cannot make money on a non-existent spread.
HFT programs seek to take advantage of spreads in pennies or less. The spreads between exchanges are much higher then that. HFT along with other traders still face the issue of moving funds between exchanges |
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2. Mining Hubs: speaking of mining hubs, GHash.io and the others all depend on physical hardware to do the mining. In the event the center is compromised or physical hardware damaged there's not much of a failover for this. Unlike data which can be backed up in a redundant data center in another city, these hubs are susceptible to many types of disaster.
Miners should have set up a few failover pools (easily done with cgminer or bfgminer), so that when the primary pool is down, the hashrate will be pointed to secondary pools automatically. So, problems on one or a few public pools shouldn't cause too much problem... I'm not referring to miners pointing their hardware to a pool, I'm referring to the large scale operations that are housing multiple mining hardware in one location. The farms that rent/sell hashing contracts and the type like the one shown in this video http://www.businessinsider.com/worlds-largest-bitcoin-mining-operation-2014-3. The one in this video houses 1 petahash of mining power. While it is a private venture, as long as the security & health of the total network relies on it then it's at least a concern of public nature. If the site was destroyed, taken offline for any reason, or even seized by force (whether governmental or otherwise) even insurance wouldn't be able to cover replacement of the FPGA's/ASIC's as they're perpetually on back order it seems. So, just to clarify, I'm not meaning folks should make sure they have failover pools listed in their mining scripts. Just that farms for mining are here and they'll do nothing but get bigger further centralizing the network power. Since hardware actually needs to be replaced rather than backed up somewhere it brings with it an inherent risk of failure. These are mainly used by cloud mining pools/ventures and even cloud mining pools usually have their miners spread out throughout the world. This is an other very good reason to not invest in cloud mining. |
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Mining is only profitable for hardware sellers - always.
This is true for most "gold rushes" |
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if u had any experience dealing with authorities, you would not ask that question. Ofc theyre dumb, and i highly doubt they would be capable of releasing such info, in a plot of some kind. i may be wrong, but highly doubt it. cheers they likely put the email addresses in the "to" field instead of the "bcc" field in microsoft outlook |
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Thanks for explaining that to me I never considered the manufacturers mining case  How did you come to the $16 for a year using 2gh/s? I used one of the regular mining calculators, obviously not a very good one! Cheers You can't really predict that far in advance, that is why I said it makes more sense to calculate it per day, since we know the difficulty for sure right now. But not one year from now. But then you end up with really small numbers so I did it per Th/s instead of Gh/s. Any calculator can accurately tell you what your earnings will be for one day at a time.Well even that can be wrong. Most pools are using PPLNS or similar variant. If the pool has a bad luck streak for 3-5 days then you can take a big hit. Only way to guarantee against this is go onto PPS. This is why PPS still exists even with crazy fees - some miners want assurance of a given payback during a difficulty interval. Over a two week period these calculators are generally roughly accurate as long as the pool is large enough. The pool may have below average luck for a few days, however it could also have above average luck for a similar number of days resulting in the overall luck over the 14 day period to be ~100% |
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Hello,
From Expedia said that they will only accept BTC for the offers for Hotels . Also they will hold BTC for up to 24 Hours and then exchange it to USD. This is a big step, but they are still scared of the investment and dont want to hold BTC for the moment. May be it will be better if they hold for more time. BTW can I book with BTC for offers for hotels from my country ( I am from Bulgaria)? Are they putting higher price then the original?
BR
It's definitely a big step in the right direction though. I can't wait to be able to book an entire trip to Vegas in btc. Would be cool if they can somehow work it into the comps that the casinos give. The Cosmopolitan is very good to me there If you have been to Vegas before and signed up for their loyalty programs you can likely stay at a hotel for next to nothing. The only thing you would really need to book a trip to vegas would be the airfare. |
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They do need reserves or need to lie about it like Lehmans did.
They do need reserves at the Fed but that's not important as they can always obtain them. What they need more is capital, and the capital requirement is far more important to lending. The Fed does not need capital or reserves because they can simply "print" additional money to satisfy any capital needs or when member banks withdraw money from the fed |
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Forget Wall Street. On bitcointalk you get better, free, 'round the clock advice!
These forums have advice given by people who are not experts, you have no real way to knowing for sure if they know what they are talking about. A lot of the advice is riddled with conflict of interest. Those so called experts advice is not that much better than advice anyone else would have given you. One must do his own homework before committing any long term investment/action. A financial adviser has a fiduciary duty to give you advice that is appropriate to your situation. Newspeak for... can only advice you to follow the sheep, else he will face a law suit. It means that if you have a certain risk tolerance then he cannot recommend you invest in something that carries more risk and cannot mislead you as to the potential risk of your investments. |
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The OP implies that it is illegal to hold/use bitcoin. As long as the winning bidders do not do anything illegal with their newly purchased bitcoin they will have nothing to worry about.
The auction will essentially link the identity of the buyers to their BTC address
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Case in point:
Sold something yesterday and offered the buyer the choice of either:
A) $400 by PayPal (sent as gift so no fees to me)
B) $360 worth of bitcoin
They did NOT already own bitcoin.
Guess which they chose?
That is a 10% difference. Is that what PayPal charges? If they choose bitcoin, how much did the pay to get 360$ worth of bitcoin? They would only need to pay $360 to get $360 worth of bitcoin. It may take some time to get KYC verified with an exchange but that is all they would need to pay They chose paypal. So, the inconvenience (and expense - might have cost them $7 in exchange fees) of acquiring the bitcoin was not worth $40 to this buyer. A tech-savvy buyer, based in San Francisco. It's anecdotal, but I think THIS is exactly what bitcoin needs to overcome to hit mainstream use. It's got to be easier for consumers to acquire/pay using bitcoin. The incentive has to outweigh the perceived hassle. The inconvenience would only be something that would happen one time. If a customer were to use this merchant multiple times then they could receive this discount multiple times when dealing with the inconvenience only one time. Exchanges do not generally charge that much in exchange fees. A $7 fee for a $360 purchase would be something that localbitcoins might charge, but you would not have to deal with the inconvenience. BTC-e for example only charges 0.2% trading fee for example. |
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