I have a lot of coin from GLBSE that I will not be able to return if GLBSE shuts down. So if GLBSE does get shut down I would be in the perfect position to pay out.
If I am able to pay back my shareholders on GLBSE then I will not pay out insurance. If I am able to return the funds to my shareholders then GLBSE was not “shut down”. Was this in the agreement that was in place when the "shareholders" purchased their "shares" that you issued? Also, this is ludicrous. So let's say the unfortunate event were to occur, you eventually deem GLBSE to be "shut down" and then pay out on this insurance. But then you get a knock on your door from a TLA (three letter agency) investigating fraud as "shareholders" are demanding to be made whole. Except you no longer have the money. Problem? (well, the problem with that is from me making the assumption that any TLA gives a rat's ass about any of this ... but I digress). |
|
|
|
It sounds like you are offering to act as broker-dealer, ... a regulated activity in most jurisdictions. Here's an example of where a Portugese financial organization got spanked by the U.S. SEC for soliciting and brokering investment products to those in the U.S.: - http://www.sec.gov/news/press/2011/2011-221.htm( degree in business administration and currently enrolled in an MBA degree with a specialization in finance, which will end in December this year. Or perhaps you are forming an entity and seeking investment monies which that entity will use to invest? If so, then your MBA eduction would necessarily cover the structure of legal entities ... either limited liability company (LLC) or commercial companies / corporations. Though you've already revealed an identity (from pginvest) it is likely you have not already formed one of these legal entities. Is this the approach you were considering though? |
|
|
|
1 USD a day
Give a man a fish and he can eat for a day ... So, that's near the gross revenue. What you'ld also want to factor in is the cost of the electricity. The card itself, not including the rest of the rig,, consumes, oh 160W. Using national residential average (U.S.) power cost of $0.15 per kWh, you'll see about 0.17 BTC earned (worth $1.15 USD at the current exchange rate) and pay 0.9 BTC ($0.58) of that in electricity. - http://tpbitcalc.appspot.com/Of course, your electric consumption includes power supply, mobo, display, etc., You'll want to carefully consider your cost of electricity as this configuration could easily be mining at a loss (or at best a miniscule profit). |
|
|
|
Very helpful information, but it brings another question to mind. Would it be possible for the 'cheater' (for lack of a better term) to choose which transaction got confirmed after the result of satoshidice was shown? I'm sure its either impossible or already figured in somehow, but it would create major issues if not.
When your node sends out a transaction it broadcasts it to nodes it is connected to, and they broadcast it to nodes they are connected to, etc. The nodes take the first valid transaction in which a coin was used and ignore any others. Miners will, within seconds, have the first transaction and that will eventually make it into a block. So yes, if you happen to be mining you can broadcast to the network one transaction and then include in your own mining block a double spend to yourself for each of other transactions in that same block that you wish to see vaporized. |
|
|
|
I thought 1 box = 1 rig (tray), ... and that you might have typo'd in saying 20 per box. Then I saw this photo that gives perspective:  wow!  agree!  |
|
|
|
Tried the search option but it did not return any results. So i figure I would ask.
thanks for the help in advance....
That's been defunct for nearly a year. If you are looking for a way to send cash in the mail to purchase bitcoins, or the reverse (sell bitcoins and receive cash in the mail), Get-Bitcoin does that. - http://en.bitcoin.it/wiki/Get_Bitcoin |
|
|
|
Just the answer i was looking for. Essentially a 51% is needed for both double sending and repealing in the same. All is good, the world makes sense once again.
I think there is some mis-communication there. Here's an article describing various double spending methods: - http://en.bitcoin.it/wiki/Double-spendingOne thing that isn't always clear immediately is that there really is no such thing as bitcoins being received by your wallet. Bitcoins are broadcast to nodes. Your wallet is really only used for spending, not receiving. The bitcoin client was built to emulate the real-world concept of receiving money but underneath that's not how it works. So the concept of "rescinding" that you mentioned doesn't exist. |
|
|
|
From all I have read I don't believe GLBSE would just disappear overnight. Wat worries me is some individual(s) pulling a Maldoff.
GLBSE only hosts accounts for investor's balances (which the bitcoin funds can be used to buy shares or withdrawn). Once there is an IPO, the issuer gets those bitcoin funds. In expressing your concern were you referring to GLBSE itself or an action by an asset issuer? |
|
|
|
Idea: Augment Radiant Systems' "Aloha" restaurant point-of-sale software to include a per-table Bitcoin payment QR code on every printed ticket and to credit Bitcoin payments sent to such addresses to the appropriate tables. Bit-Pay or Paysius would provide on-the-fly payment conversions to USD at a price less than processing a credit card, making the proposition attractive for restaurant owners. The QR code would include the payment address and the ticket total, making the transaction super easy for customers and staff.
Problem: There is no incentive for Radiant Systems to add Bitcoin functionality to Aloha.
Question: Does anyone know if Aloha supports third-party plugins? Does anyone here know anyone who works for Radiant Systems?
We come not to integrate with the proprietary vendors, but to bury them. Some open source alternatives: - http://floreantpos.com - https://twitter.com/#!/sambapos - http://lemonpos.org/screens |
|
|
|
Will there ever be a mobile app version of BTCBalance (or mobile-enabled website)? Specifically, what I'm looking for is an app that lets a person scan a QR code containing a Bitcoin address and then see the balance and transaction history for that address. For a specific use case, a mobile phone (or Android tablet, more likely) is going to be made available at an event to allow people to check the balance of their bitcoin address. Attendees with their own smartphone can use their own mobile wallet app but for those without smartphones and those who don't know (nor care) about bitcoin, the QR code on their badge will work as their wallet. Kind of like these, for example:  - http://www.paymyaddress.com/The app can be pretty simple -- a text field to enter the firstbits (and a button to optionally allow a scan), and then the balance is displayed (with transaction history below, optionally). Since it would be used by people just walking up, it shouldn't require any registration or login. Simply scan and view. Is there any chance a BTCBalance app or mobile-enabled page could be built to do this? |
|
|
|
eg, can you easily see the difference between "0.0000045" and "0.00000045"? It's way easier to see the difference when these numbers are displayed as "4.5e-06" and "4.5e-07".
You, um ... , you don't get out much into the real world nowadays anymore, do you? But, I'm open to any suggestions you may have here. How do other bitcoin sites display very small numbers to users? Always display precision down to the satoshi. So if I have 0.1 BTC, it shows 0.10000000 BTC. We'll get used to it. |
|
|
|
Chart Date Range - December 1, 2011 through June 30, 2012 (cherry picked  ) BTC/Gold - How much gold (ounces) a bitcoin will buy. (Range: 0.0016 ounces to 0.0044 ounces)  BTC/Silver - How much silver (ounces) a bitcoin will buy. (Range: 0.0843 ounces to 0.2532 ounces)  BTC/Crude - How much crude oil (barrels) a bitcoin will buy. (Range: 0.0272 barrels to 0.0856 barrels)  Over the same period: - BTC/USD (Mt. Gox, 24 hour high): High: $7.22 - BTC/USD (Mt. Gox, 24 hour low): Low $2.61 - BTC/USD (Mt. Gox, 24 hour weighted average): Low $2.75, High: $7.05 - BTC/EUR (Mt. Gox, closing): Low: €2.0626, High: €5.5000 - https://docs.google.com/spreadsheet/ccc?key=0AmcTCtjBoRWUdHJuUE1mUkFxa3A0eHBDQkxZLVVFZmc |
|
|
|
On a separate note, I've been researching M-Pesa and it looks like they charge the following fees:
~1% to withdraw money from the system (for cash, in person, at an associated location)
$0.40 per transaction paid by the sender
If this is correct, we could easily compete with them. Coinapult could be far more expensive than Bitcoin should be, but less expensive than what is currently available even in the best markets. M-Pesa is only Kenya, after all.
Ya, they use tier pricing rather than a raw %, so if will vary based on the transaction size. From one M-Pesa user to another, the fee as a % can swing wildly ... like 10% fee on a transaction worth $3. Up to the range of $20 it drops as a % to 2%, The fee caps out at 50 Kenyan shillings (KES) (fee of about $0.60 USD) no matter the amount transferred. - http://safaricom.co.ke/index.php?id=1593 - http://mobilemoneyexchange.wordpress.com/2012/03/02/m-pesas-revised-tariffsViewing the following will show how Bitcoin is so unique ... it is the only one that works in every single country: - http://www.wirelessintelligence.com/mobile-money/unbanked - http://www.wirelessintelligence.com/mobile-money/download (Spreadsheet) |
|
|
|
I've been collecting the data for a couple months and compiled this graphical chart to visualize blockchain growth and expected growth over the rest of 2012. Hope it could be useful. Notice the accelerating growth as of May 2012 due to the SD success. So we will most likely be hitting the 3GB mark in mid-July, 4GB in September and 5GB in November. BTW: I'm aware of the Blockchain.info chart but oddly the values seem way off, unless I'm missing something? The blockchain.info chart does appear to show some invalid numbers, especially prior to Jul 2011. By the way, Is yours the size of both the blk00001.dat plus blkindex.dat combined? Also, any way to see a longer timeline further back? |
|
|
|
Keeping backups on CD's here and heard some usb pen drives have extra shielding that help withstand a magnetic pulse.
What pen drives are these as I'd like to protect all my data from an EMP If there are EMPs occurring, the resilient pen drives will be worth far more than the resultant value of any bitcoins after that event occurs. (If for no other reason than the gold content of the electronics inside ... :-) ) |
|
|
|
Great info, bearbones! We can currently send SMS anywhere, but doing so is cost prohibitive. Even in the U.S. we average more than $0.06 per send. That is, each SMS message costs us $0.01, and a typical send requires at minimum 5 messages: Oh, so you pay for both directions (incoming/receiving as well as outgoin/sending)? Coinapult requires a text message response from the mobile number the funds were sent to so at least with that there's no bearer code being transmitted across the SMS network.
We consider this basic security, but is ultimately inadequate. At the moment, the initial 'receive' message still carries a bearer code, which is vulnerable in the same way blockchain's are. Ah, I forgot that Coinpult was dual mode -- the funds are automatically in the SMS wallet, or the recipient can spend using the URL in the message as well (with the URL acting as a bearer code). How many days after realizing that SMS wallets are starting to catch on before texts to and from the SMS wallet provider's number are blocked? (and thus the user's funds left stranded, at least temporarily). Unlike bitcoin's peer-to-peer architecture, telecom infrastructure operates as the givernment instructs them to.
This problem may be a little overstated. Governments don't always act so efficiently, and they'd have a tough time blocking us in such a way. Assuming we go international through a series of phone numbers in different service areas, it would be quite easy to get new numbers for any given service area. The local gov. and mobile service provider would be playing whack a mole. Oh, sure -- I forgot that with cloud / integration each transaction can get its own unique "from / reply to" number. Ok, so they need to do payload inspection instead. Well, regardless this is all encouraging. There's so very much potential when extending bitcoin to the moble wireless voice/data network as its reach goes so much further than terrestrial and wi-fi Internet access goes (geographically, and participation of a community as well) |
|
|
|
I really don't think the halving block reward in December will be very disruptive.
To someone holding bitcoins, that is correct. To a mining operator whose margins are marginal (e.g., paying average or above-average electric rates and mining using GPUs) or even mining profitably at these levels, the block halving will be brutal to GPU mining. Like ... come block 210,000 it will be exit stage left, NAO! Incidentally, by late fall FPGAs will probably already have pushed those GPU mining to make plans to shut down GPUs at block 210,000. If the ASICs start shipping before then, the date for exiting simply gets pulled forward a matter of weeks is all. |
|
|
|
|
Show Posts
