So the point of my ramblings is...
1) Given that the exchanges can never operate on different chains. And
2) They can't allow invalidation of confirmed transactions to ever occur. So
3) If the exchanges decide that a particular chain is the only chain they'll all trade on. THEN
4) The mining pools MUST follow their direction. and
5) So MUST everyone else.
So how can "Accumulated Hashing" protect the chain, if the exchanges can throw it out willy nilly and everyone else must accept their decision?
QED.
Surely the other way around. If the exchanges don't follow the miners, the transactions don't get processed. Especially when Bitcoin becomes to be used more as a currency. Exchanges (too few though they are) are over-represented in the Bitcoin arena right now. |
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I'm still 20680 in queue... I should have verified my account long ago, but when I first registered, there was no verification process lol I signed up then when I saw the verification process, went and bought some person-to-person instead. Kinda wish I had bothered to complete the process now but that is just panic-verification setting in I think. |
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Stop blaming PHP/Mysql. I wrote a very simple PHP/Mysql Bid/Ask engine. It could execute ~35 orders in a second on a super nooby $300 server. Its pretty obvious they are doing something other than just a simple Bid/Ask engine to get this much lag.
I'm not blaming PHP, just the person who made it the core of a high volume, high user trading engine  At least it wasn't Java. |
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Their "trading engine" is just a PHP script that keeps a queue of orders, and executes them synchronously with each trade being it's own locking transaction to prevent errors. PHP isn't exactly known for its raw processing speed, nor is MySQL, by default. Of course there ARE high-volume sites using PHP, but they often use many tricks to make it run faster (like Facebook which uses PHP but recompiles parts of it to barebones C, lookup "HipHop" for more details). They've said that upon executing an order they have to check all matching orders for their validity. This means grabbing a ton of data from MySQL and iterating over it. This, combined with slow message queue (which as I said probably is just a PHP script, not a 0MQ or something else), gives us what we see now. And when people see lag, they sell even more, thus adding more to the already blocked queue.
Remember, the site was designed to trade Magic the Gathering cards, not trading thousands of Bitcoins per minute.
MySQL is usually considered pretty speeds as DBs go. However, though I am usually a big SQL proponent, there are situations where it is not the best choice. My first thoughts about an exchange is that for something like this, you'd probably want a custom-built high-speed trading engine specifically designed and optimized for this kind of transaction. You could use SQL for accounting, record keeping and authentication etc but there are some optimizations you could do that just wouldn't translate to SQL very well, especially not SQL with PHP on top (and I'm by no means anti-PHP either). |
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I've been trying on facebook and twitter. Their support desk sucks and always takes forever. No responses yet... they are all sleeping. Insane communication... they are horrible. ALl they need to say is 'we are working on it' but they don't. The seem to panic and freeze and say nothing. At least it feels like that.
I wonder if that's a Japanese thing? They have a different culture over there. I saw it on the telly n'all. |
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How long does it take for a cpu to count from 1 to 10000?
You can make it last a long time if you choose the wrong algorithm. |
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OK, you've got a point, MTGox is a central point in a supposedly decentralized network. I think that problem has been recognized, however, and is in the process of being remedied.
Good we're on the same page! But do you realize that the exchanges as a group CANNOT ever be forked from one another? I'm not sure in what context you're using "forked." Don't we want all the exchanges (into which group I include the people selling bitcoins for other currencies on #bitcoin-otc, SR, and other darknet sites) all using the same blockchain? I don't understand this "forked" thing either. An exchange is essentially an independent entity. Some people put BTC in, some USD and others other currencies then they exchange and then cash out or exchange again as desired. They need to be hooked into the Bitcoin protocol and the banking system (the latter appearing to be the "hard" part of being an exchange, an indication that Bitcoin is a superior solution, by the way). But any interaction between them would typically be done by third parties by way of arbitrage. |
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Maybe there is another way... Changing a property about the order or something which doesn't cost the manipulator but is costly computationally and repeating it dozens or hundreds of times a second. Without being on the gox servers, no real way to tell.
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CPU mining is pretty pointless at this point. In fact, it's even negative for me on my quad-core amd as it slows my gpu hash-rate.
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You'll probably get your BTC back when I get my e-gold back.
Heh, yeah. Luckily, I was only playing with a few loose coins. There were people with a whole lot more on there. Hopefully one of them might have the clout to make sure things get sorted properly (assuming the dude hasn't just cut and run) but I won't be holding my breath. |
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No, he's right. So...
Introducing Commie-coin, the egalitarian alternative to Bitcoin. Commie-coin, available to anyone, no hard-core mining equipment (nor even a computer) needed. Commie-coin is simple, each commie coin is denoted by the letters CC followed by a 16 digit hexadecimal number. Just pick one. Here, just to prove how easy it is, I'll mine one right here in this thread
CC0000000000000001
And as a show of good faith and an example of my generosity, I'm going to gift it to revan.
Security? Not needed. If your coins get stolen, you can just create more. Double spending? Not an issue, there are not rules against duplicate commie-coins. For the same reason, deflation is not an issue, commie-coin can simply be inflated by anyone anytime they like. You don't even have to be a fat-cat banger to do so. How's that for egalitarian?
Revan, don't spend it all at once now. I'm sure it's going to be a big success.
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...My only two regrets are that I didn't cash-out my original stake at the top and now, that I put a few btc on bitcoin-24 which I managed to parlay a little higher but now is apparently gone (I'm assuming forever)
Why do you assume that? Because it looks like the government is involved. Unfortunately, there is very little information coming out but my assumption is that at the least, the government has seized the server and the transaction records have not been backed up elsewhere. I hope this is not the case but again, no information. That in itself is a big red flag to me. |
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Well IMO we are either at beartrap or despair, but as others have said this graph can be really applied to many things and its relevance to BTC has to be questioned. The main problem being we haven't been through all of the background phases of the chart i.e investments, public etc. Which if you go by my guess' means that we are at beartrap, but the pattern of the line looks awfully similar to what we have witnessed meaning we could be at despair. Who the fuck knows where we are jumping from 90-100, but if you take either of those predictions then at least the only way is up eh.
If you are going with this chart, I wouldn't pay too much attention to the stuff in the background. That may be typical for a stock bubble but isn't necessarily a requirement for things to behave like that. You also have to take into account the tendency of the human mind to find patterns whether they're there or not. There were several bear traps, of various sizes, on the way up and the price was definitely not a nice smooth line. For me, I started getting concerned when we started climbing above exponential growth. My only two regrets are that I didn't cash-out my original stake at the top and now, that I put a few btc on bitcoin-24 which I managed to parlay a little higher but now is apparently gone (I'm assuming forever) |
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how much to do this mod.  the B is so small not sure it would print out good...what do you think? 0.031982347BTC? Yep, unfortunately not doable with my equipment. You might be able to find someone with a laser cutter to do it if I upload the SVG for you. |
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edit: didn't read he said you had to post before that post .. oh well
I may be bribable for those who did not post previously or want some custom mods. But I didn't want to appear to be advertising in a non-advertising thread. |
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I'd actually love one Ricky-T but I hate giving out addresses, haha. They look great!  I could roll it up and try squeezing it through a Tor connection  I'll put the SVGs up on the web somewhere and anyone can make their own (no doubt some bright spark will download them and make millions off them...). The free physical versions still stands though. |
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This is great (if true). I don't think it's a gamechanger but with how badly the whole asic thing has been bollocksed, more actual real-life kit is always a good thing.
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sure why not?  however i don't remember when i posted If you go to your profile, you can see your old posts. Google is also good for finding old posts on forums. |
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To cheer you up (maybe). It's been a wild time and I don't think it's over yet. But to celebrate the occasion, I'm going to give away some vinyl decals. These will be for free if you have posted in the thread and for up to the first 10* people who reply. These will be in white vinyl so will be suitable for car windows etc and will be 2.5" in diameter. First represent, the bulls...  And whilst they are my mortal enemies and I would cut them down without a thought if I passed them in the street (just kidding, they're cute and cuddly really), the bears...  PM me with your address and a link to a post in this thread from before this post and it's on. I won't be keeping addresses for any mass marketing or other nefarious purposes but obviously it is required for snail mail. *10 from each faction. Details subject to change Edit: Oh, make sure to specify which you want too. And I will have a couple extra for certain people so it's worth asking. |
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Bitcoin has a magic ingredient: No government bailout...
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