Nice try  No matter who posted the address above, you would have no ways of knowing where the bitcoins ended up at. I can assure you that the citation is a direct quote from the email I received from Max @ OpenLeaks, but I cannot prove it. I guess it would be better for everyone to wait for the correct (i.e., permanent) address to show up on OpenLeaks' website. Cheers, Yeah, I'm assume OP is fine, but it's terrible practice. If people get used to giving based on 3 party info there is going to be some major scamming eventually. Don't send to unverified addresses there is no recourse. |
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I just can't understand why people are still using Mt. Gox.
In my opinion bitcoinmarket is and was from beginning way better.
isn't it working only during us daytime? I remember seeing something like site closed now (I'm in EU) bitcoin-central.net is 24/7, no fees, accepts LR and euro wire. The market is still thin, but I think it's going to take a lot of mtgox action eventually. |
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A quick question about mtgox, I placed an order to buy (at 0.91) and don't have enough funds, I also have an order to sell btc I do have. If my btc sell order is fulfilled, and as a result I have enough usd in my account, does the order(without enough funds) now get made into a proper order?
Yep, it waits for funds from any source and becomes active automatically. Partial funding results in a partial order. |
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It is completely possible to prove that an online casino is running fairly. I don't think bitcoinbet has any interest in doing that though. I have no proof, but I think it was redirecting 6s to 1s on Jackpot Dice. I think after he realized how shady that was he cleaned it up, but dropped the payout to 4x instead of 6x.
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I sent 10.00 bitcoins to my MtGox account and its been 30 minutes and my BTC balance is still 0.
It shows 3 confirmations in Bitcoin application and I have been deducted 10 bitcoins.
How long does it usually take?
I think it's 6 confirmations. |
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Some people mean public to be government.
Annoying. Agreed. |
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I don't know if it changes your analysis, but miners can't charge fees, they can only decide not to include a transaction if they don't think the fee is high enough.
Yes, that was my understanding. Hopefully I'm not talking complete nonsense but I don't think that actually changes my analysis. Basically a large group of miners could get together and decide among themselves "we will not process blocks unless we are paid at least <some fee scheme> for transactions". Supply and demand would determine what those fees are going to be. It's a little messy since the clients have to figure out what fees are necessary. My naive understanding is that the halving of the mining bonuses is Satoshi's way of weaning the miners off the inflation gravy train and transitioning to a transaction fee based system. It very well could be that 25 coins is still sufficient payment for running the processing machines without requiring transaction fees. It all depends on the demand for bitcoins at that point. This is essentially the most difficult to enforce cartel in all of history. Even if the miners hook up all the generation they have now to an organizing pool server or something if it is more profitable for an individual to include transaction below whatever the cartel chooses then that will be set up on the side either by 'cheating' cartel members or by other's enticed by the artificial profits that the cartel induces. There simply is no cartel equilibrium here. I don't see any way that difficulty falls by more than 50%. So what if you used to get 9 blocks of 50BTC/mo and now you get 18 of 25BTC? It will be exactly as profitable for you as before. |
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What block is next diff?
Take current number of blocks and divide by 2016. The decimal part tells you the % of the way to the next diff update. Subtract it from 1 and multiply that decimal by 2016 to get blocks to next diff update. |
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I think it is wrong to call bitcoin a "private" currency.
On the contrary, imo bitcoin is much more of a public currency that any national currency is.
Some people mean public to be government. In that sense it is obviously not. |
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Hmm, I don't know. Who runs MyBitcoin? It would be nice if you could leave out an amount and have the user enter it on the MyBitcoin payment page (like Paypal donations).
Yeah, for donations there shouldn't be an amount, especially if it breaks the payment. I'm sure the coins aren't lost or anything, but they never showed on the counter on the site. |
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[..] the competitive nature of the mining market will mean that the majority of miners are just barely profitable, and a drop in net income by 50% will make most of them unprofitable.
That's what I originally thought too and was going to argue that the reward should have dropped off gradually from 50. However, now I wonder if the free market forces will handle this sharp jump without difficulty. Couldn't people with marginal profits start charging small transaction fees? I guess the transaction rate would have to be high enough to ensure that bitcoin users could support those fees. Some quick math (please correct if I'm wrong). To make the extra 25 per block, assume the miners charge a fee based on the amount transfered. For 2500 in transactions, the fee would be 1%. If 25,000 happened in 10 minutes then only 0.1% would have to be charged. Obviously we don't know how popular the system will be at that time but it seems possible that transaction fees could make up the difference. I don't know if it changes your analysis, but miners can't charge fees, they can only decide not to include a transaction if they don't think the fee is high enough. I just want to make sure no one gets the wrong idea about fees. |
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I just used the mybitcoin link to send a donation. I didn't send the 5.15 it requested, only 2. Now it seems to not be acknowledging the payment. To complicate, I used mtgox, so maybe it didn't work at all. Does anyone know how mybitcoin reacts to payments of the 'wrong' amount?
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Curious to know what the community expects to happen. I predict that it will drop more than 80%, because the competitive nature of the mining market will mean that the majority of miners are just barely profitable, and a drop in net income by 50% will make most of them unprofitable.
I agree that miners will tend to be only marginally profitable considering all costs, but once they get set up only marginal cost considerations matter. On top of that when some drop out it becomes more profitable for the rest. 50% is a hard ceiling for the drop imo, I choose 5% to 30% as most likely. One more thing to consider is that if coins are harder to get the price could pop a little around the same time, or before in anticipation. |
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Another thing that bothers us is the attempt to persuade our users to jump ship - one thing that Compute4Cash has done very differently from other alternatives is that we have engaged in paid-for advertising to grow our user base. We have paid a substantial amount of money to share this opportunity with other people, knowing also that at some point in the future this would equate to advertising for Bitcoin and getting more people involved. We therefore have invested in each and every user we have, so in a sense when you tell people to leave Compute4Cash you are running off with a portion of our investment. If it weren't for our advertising efforts very few, if any, of our users would be aware of Bitcoin or making money in this way right now - that alone justifies not only a premium over the <10% profit margin of other pools, but it also justifies our expectation of being treated with decency.
Puhlease. Gimme a break. You paid for advertising so now you own your customers or something? Sweet Jesus Christ, is this a general rule in your mind? Anyone paying for advertising can't have their customers lured away by a better deal? |
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Why would you buy anything today?
I'm sure you can think of a few reasons if you try. |
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And Benedict warns businesses to be suspicious if someone uses only coins to pay for merchandise. Is this actually happening? It kind of seems to me like someone is scaring businesses into not starting to accept silver. Why is no one asking the people bringing in this new fake silver all of a sudden where they got it? Online from China I guess? |
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Any market that makes a habit of taking any coins ever involved in wrongdoing is not going to survive imo. However, I don't think that is mtgox policy or practice. This particular situation appears to be: thief himself, with his stolen coins, for a large amount, and the site owner probably knows some victims to boot.
Extrapolating what is probably a good investigation and decision in this one case to the general rule of "Take any possibly tainted coins" is ridiculous.
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Atlas, do you know Dragon's Tale?
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It seems like this could be cool, but won't we need private key exporting so we can use the key to unlock private messages?
Ah, or you could require a .01 transaction from the relevant address and return it (or not if you want a fee). But this would not be ideal I don't think, maybe there is a better way you have in mind.
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I can sell 1k of BTC for 1.2k of USD. If this is interesting - email me at pavel@yepcorp.comI can undercut that. 1000BTC for $1100. |
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