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I'm going to print one of these as soon as I size the ring finger of my girlfriend.
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It's my understanding that in order to successfully double spend you need to be able to mine your own block. And shorter block times makes that alot easier to do. So 10 min block time makes it very hard to double spend in bitcoin.
This is just one kind of double-spending attack...called the Finney attack after Hal Finney. It's the hardest to defend against but also the most costly to perpetrate. Most double-spends would be simply sending one transaction to the target and another to the rest of the network and hope that the target has not protection against that. Fast block times increase orphans and increase the amount of hashing that is wasted since miners will be mining on the wrong block more of the time. 10 minutes was a good guess. At least it wasn't 30 minutes or an hour. Litecoin's 2.5 minutes appears to be working out ok but time will tell as transaction volumes go up which is better. |
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Dying here. Where can I find this podcast!?
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I bet the list will be kept by many banks for "internal use only". Bitcoin will be fine.
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Find a way to work without a bank account. Unless your business is online fiat currency exchange or involves purchasing stock with fiat, you can do it. I suppose you could try to operate a Bitcoin business inside another cash business but that is risky.
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I hope at least I have 100 bitcoins by 2015. If bitcoins cost around $5000 that would solve all my current problems.
That's what you think! Of course, I hope you get what you wish all the same. |
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With Bitcoin's track record, it's hard to justify being in anything else. This, and with the Dollar and Euro track records (and especially their bank-monopolized fundamentals of fractional reserve banking) it's hard to justify being in fiat at all, other than the necessary payments for services that don't accept Bitcoin yet (such as taxes and mortgage). Really? I'm a big believer in bitcoin but bitcoin doesn't really have a 'track record' as being stable. I think bitcoin is more of a risk than most strong fiat currencies at the moment but this could all change. My point is not that Bitcoin is stable but that it has gone up like crazy over the last few years. I don't think that's going to change for the next several years as *still* almost nobody knows about Bitcoin in any meaningful way and even fewer have any. |
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People say stay away from faucets because they pay very low amounts of bitcoin. You might run around all the faucets you can for months to only earn a few dollars worth.
Since you're hooked up with Coinbase, link it to your bank account and use it to purchase a little bit. Even $5 or $10. Whatever the minimum is to get started. Then you'll have some with which to buy an item from somewhere and understand how simple it is to transact.
Now for acquiring more, I'd suggest you put in overtime or make as much money as you can the usual way, then convert some into bitcoin using Coinbase the same way. If you have skills that can be easily provided over the net (graphics, coding, tutoring) then you could try offering those here in the Marketplace section. Many have managed to earn extra income that way and trust me, it's 1000x more effective than doing faucets.
Good luck and welcome!
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These drones would need to be armed since they'll be carrying cash and will be juicy targets.
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With Bitcoin's track record, it's hard to justify being in anything else.
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Thank you so much CasinoBit! Hope it was good for you too!!
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BitcoinGet has been around and paying out for well over a year now. It is not a faucet, but rather an "earn" site, where you get BTC for completing microtasks. We have users that consistently earn 10-20 USD equivalent of BTC a day in their spare time. In the early days, some users were earning 0.5 BTC a day.
Nice site. It's humorous that the site's title says Earn free bitcoins when people are by some definitions working for the money!  |
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A problem I learned about with proof of Stake is if lots of coins are stolen, it can compromise network security rather than just taking resources from one party and moving it to another. A coin recently did a hard fork because of this but I forget which one.
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In regards to bandwidth, you can limit the number of peers your node connects to with -maxconnections and monitor the situation with your firewall or router. I'm not sure how many connections 250gb a month would support but someone else may know. I don't just say use Multibit or Electrum because it is important for the security of the network that people run Bitcoin Core.
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Buy and hold. You are building a legacy for your children and their children.
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I'm not sure what you're talking about with all the autism references. Bitcoin Core does a tough and important job with the now semi-large blockchain. That being said, you can use other clients like Electrum or Multibit on desktop or Mycelium on Android. Or you can setup a blockchain.info wallet in a few seconds. None of those require as much time investment and are perfectly acceptable starting points.
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You could create a table of addresses with some marked for app1 and some app2. Or as you're reading the output of listtransactions you can try to match against open invoices for both apps. If you need more separation, you'll want to go the multiple VM route.
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Try starting with -dbcache=256 or -dbcache=512. It starts with 25 which constrains ram unnecessarily for the syncing phase. Having more ram means less disk io which means faster tx verification and faster syncing.
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Read every page on the wiki http://bitcoin.it and ask questions here if anything doesn't make sense. |
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