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601  Bitcoin / Bitcoin Technical Support / Re: WTF?? Bitcoin QT Not Processing Payment? on: December 16, 2014, 06:02:08 PM
Ok, so I followed the "open wallet waiting game" approach and left my wallet open and got 1 confirmation so far.

Thank GOD!

I normally wait a minute or so but was in a hurry last night.

I'm a mining veteran but a blockchain baby.

Never knew the wallet had to be left open for some time after a transaction... they're normally nearly instant.

Maybe I forgot to pay the miner fee this time?

Again, hurry last night so it's not impossible.





You need to keep your wallet online till the 1 confirmation is done.

Not necessarily need to, but certainly best practice.
602  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: December 16, 2014, 05:58:38 PM
^The guy will say anything to keep his books from getting pulped Cheesy
Apparently NOT.
Did you fail to see the difference between what was requested and what was received?

Reading fail on my part Sad

At least we know that he does these personally.

Oh... and
https://twitter.com/haq4good/status/544913475311398912
603  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: December 16, 2014, 05:45:26 PM
^The guy will say anything to keep his books from getting pulped Cheesy
Apparently NOT.
Did you fail to see the difference between what was requested and what was received?
604  Bitcoin / Bitcoin Technical Support / Re: WTF?? Bitcoin QT Not Processing Payment? on: December 16, 2014, 05:42:02 PM
One other simple approach is to use something like blockchain.info to see if the tx has been at least picked up (you can right click on the transaction and copy its transaction id - when pasting that into blockchain.info just remove the dash and 3 digits it puts on the clipboard at the end).


It wasn't showing originally in blockchain, that's why I was full of upside down question marks.

What happened is I shut off the wallet right after I made payment, kinda like you would in your online banking.

Too tired and didn't realize I needed to let the transaction propagate inside the network for it to work.

So the Tx was held in my wallet without it having had the time to alert the network of the transaction.

Or it's what makes sense in my mind...

Very possibly it was transmitted only to nodes that never passed it along to a miner for the next block.  This is where p2p is different from client/server.

Imagine if you dropped a song you wrote into a Napster sharing directory, and then turned off Napster.  No one would hear the song even if they wanted to and were already connected to your share.

The blockchain.info suggestion of using their wallet is that it allows the type of behavior that many are accustomed to with online banking.  Their servers will continue to transmit your transactions for 30 hours and only stop after that if it has not been put into a block sooner so you can close it immediately after sending as you did here.
605  Economy / Economics / Re: The reason that crude oil price crashed on: December 16, 2014, 05:29:52 PM
the shale supply has been going on for a few years, that doesn't explain why the price suddenly collapsed almost 50% in 4 months.
most shale oil production is not even profitable below 70$

something else is going on...
There is less global demand for oil.

It also potentially has to do with the fact that sanctions have been put on Russia which is a major oil exporter

This is the opposite of the truth.
Look at the data.

There is MORE global usage of oil, not less.
In fact, demand is accelerating!
With lower prices, you should expect usage will increase further and more swiftly.

This is really basic economics.  It is almost surprising to see such confusion on these things in a Bitcoin forum.

Be careful there. Demand is a curve/function, not a quantity. Increased quantity accompanied by a lower price does not itself indicate an increase in demand. This could happen with an increase in supply, along with no change in demand, or even a (relatively smaller) decrease in demand.

Also, there is a certain amount of increased quantity over time that is built into expectations and therefore pricing (absent peak oil -- but immediate peak oil is not the current consensus). "Decreased" supply or demand may in practice just be a smaller increase than expected.
It wasn't a theory or an assumption.
If you scroll up, you would notice that I was careful enough to post the actual usage data to support the claim.  Usage and demand has accelerated over all of the most recent periods measured, and the 2012, 2013, 2014 progression shows year over year increases, with some acceleration in the most recent measurements.

For ease of reference I'll repost the image here:
606  Economy / Economics / Re: The reason that crude oil price crashed on: December 15, 2014, 09:43:04 PM
The reason oil prices have come down is because OPEC has cut prices arbitrarily. They were artificially high to begin with. On average it costs an OPEC nation ~$30 to produce a barrel of crude. They're still making a shitload of profit.

It's not arbitrary at all, and it's not really OPEC, as many OPEC members would rather see higher prices for their own internal political reasons. The primary driver is Saudi Arabia, who is trying to crush the shale oil producers in the US (particularly, and to some extent Canada) where oil cannot be produced at profit for less than $80 a barrel. A sustained price below that point is intended to chase US firms out of the market, as they can't produce profits at this level, which in the long-run would be good for Saudi Arabia.

Prices aren't "set" in that way.  It is primarily a global auction market price, with some lesser side-deals.
What the OPEC countries do is set and publish production targets for themselves.  Sometimes they also violate these targets and release more oil than they say that they will behind the backs of the cartel partners.

To say what is "intended" by them is essentially a bizarre claim of mind-reading.  There may well be other intentions entirely, (such as maintaining the largess of their regime and thus forestalling a democratic revolt) and the effects on USA and Russia may be merely side effects and unintended consequences, or even simply not as big of a factor as other financial concerns of selling enough oil as they feel that they need to sell.

Not all effects of actions are controlled.  Even children know this the first time they accidentally break something.
607  Bitcoin / Bitcoin Technical Support / Re: WTF?? Bitcoin QT Not Processing Payment? on: December 15, 2014, 02:49:22 PM
Ok, so I followed the "open wallet waiting game" approach and left my wallet open and got 1 confirmation so far.

Thank GOD!

I normally wait a minute or so but was in a hurry last night.

I'm a mining veteran but a blockchain baby.

Never knew the wallet had to be left open for some time after a transaction... they're normally nearly instant.

Maybe I forgot to pay the miner fee this time?

Again, hurry last night so it's not impossible.
That's funny. I haven't heard about having to have your client open. It should go to enough nodes instantly.
Was your client synced, when you sent the transaction yesterday?

It isn't about syncing there, (reading the block histories), it is about whether your wallet's broadcast sent to nodes that propagated it out to ultimately be included in a block.  It will re-transmit if not.
608  Bitcoin / Bitcoin Discussion / Re: Simple question of anonymity on: December 15, 2014, 02:46:13 PM
QuestionAuthority - these are great links, thank you
I have given up on anonymity - much easier not to have anything to hide Wink

No problem. All of us have something to hide but it's better to not hide it over an Internet connection. lol

For many folks it is not about what they have to "hide", and more what they have to "protect".

Even the injured animal mothers know not to lead the predators back to the den of their young.
609  Bitcoin / Bitcoin Technical Support / Re: WTF?? Bitcoin QT Not Processing Payment? on: December 15, 2014, 02:31:01 PM
If you already tried running with the -rescan paramater, then since there are no confirmations...maybe you want to sign a raw transaction to respend these coins?

Here's a [GUIDE]
https://bitcointalk.org/index.php?topic=35214.0
Or this one.
https://bitcointalk.org/index.php?topic=231309.0
610  Other / Politics & Society / Re: Illinois Just Made it a Felony for Its Citizens to Record the Police on: December 15, 2014, 02:15:11 PM
If it is unconstitutional then the law will eventually get overturned and unconstitutional laws are not very effective of achieving this goal as their effect is very temporary. Also excluding evidence that is obtained illegally is probably also unconstitutional and is another reason why the law will probably be overturned
It seems to be Sequentially temporary...  so maybe Illinois just gets used to it?

The silver lining is that unlike many other felonies, police are not yet allowed to use deadly force against a cameraperson just because they notice they are on camera. 
http://www.sa-macon-il.us/illinois-law-on-the-use-of-deadly-force-.html

Instead filming law enforcement there can legally merely ruin your life instead of end it. 
611  Economy / Economics / Re: The reason that crude oil price crashed on: December 15, 2014, 02:04:21 AM
This is a strange discussion.  Must oil prices be a grand conspiracy that is only about some politics?

I thought everyone already know that in today's system, it is fiat money supply decide the price, not supply and demand

Supply and demand are good to be used to EXPLAIN the price movement, in what ever way it suits, but that is historical trading. However, the money supply can be used to forecast: When money supply stopped, the price of everything WILL fall (since there is suddenly much less money on the market)

Since there is a consensus that QE is going to stop, the other major currencies all fell against USD this year. Take Ruble for example, it fell almost at the same pace as oil, which means the oil export income counted in Ruble is almost the same, but Russian's import from US will be affected heavily

Everyone know that FED has printed 6x more money since 2008, but there is no 6x inflation, no 6x increase in GDP/income either, where did all those QE money go?

Now it seems the answer is here: Just like housing bubble, they were loaned out massively. But they did not enter the consumer's budget
since consumer is very poor now. So they are loaned into those oil companies to build rigs over sea or shale infrastructure, at the same time, many of those fiat money went to buy commodities including oil as a store of value

That's the reason those oil that cost $30 to produce can be sold at $120 for extensive amount of time. (QE pumping out 2.8 billion per day, while world oil production is 90 million per day, gives each barrel of oil $31 premium, if you consider M2 it is even higher)

Somebody said that after housing bubble there will be a bond bubble, but I guess the oil/commodity bubble is more likely the trigger of next financial crisis. Of course in this crisis the major victim is oil companies, but if banks have been loaning heavily to these companies or investing heavily in commodity ETFs, maybe we will see a "too big to fail" bank asking for bailout again

Is the theory here that banks will seize petrol production assets from debt defaults, those assets will be undervalue and non performing, and so it will be a bailout for oil and gas and then banks by taxpayers, or banking bail-in?

Here is the risk analysis report from before the big price drop in April 2014.
(You may not be wrong, but I don't know the future.)

http://www.occ.gov/publications/publications-by-type/comptrollers-handbook/pub-ch-a-og.pdf
612  Alternate cryptocurrencies / Altcoin Discussion / Re: Crypto Kingdom - 1991 Retro Virtual World(City) on: December 15, 2014, 01:38:24 AM
NLQI shareholder report

IPO Price: 1Mm/share
Marquess Joseph making markets for NLQI:      
   avail qty   at price
WE SELL    40   4.00
WE BUY    40   3.40  
Apologies for the low qty, volatility has reduced liquidity until we can dislodge some more sellers of these shares.

NLQI achieved operational profitability in this year of the festival.  Some acclaim is shared with Lord Chancellor Smooth for his treatment of our Engineer Haruf "Tacky" (The engineering team had made some use of the overnight freezes to do a little rock cutting based on some sketches, and we hope for his return to productivity from university), and also a big thank you for The Most Reverend Bishop David for sending a parson for services to keep our workers near the jobsite.  
 
Mistress Asenath has set a production goal of 500,000 stones produced in the next year and is working diligently in order to accomplish this.  
Part of this goal is attained through attending to all of the workers needs to the best of our ability keeping them happy and healthy in body and soul.

Many (but not all) shareholders are taking advantage of their option to buy stone from the quarry on a daily basis at the market's "BUY" price.
Excess profit from sales have been used to buy a little gold which will be split among shareholders upon the completion of quarry operations and the dissolution of the quarry.

NLQI has developed some quarry management talent as well as worker expertise and has promoted many of its workers in the last few years to higher positions.  We look for this to continue.  We have now broken topsoil on about half the jobsite and so are looking at expanding operations until we have an optimal productivity.  We are only now beginning the shift of workers into more productive activities from their beginnings of building structures and readying the job site for large scale extractions and some of the more difficult stone cutting efforts.

We believe some of the better stones are yet to be found more deeply and are expecting some nicely colored basalt and even stronger rock suitable for supporting the great structures of the Crypto Kingdom's capital.
(Shown below, the drawing of a future plan for removing the stone to be the base of a pillar from deeper within the quarry)



613  Economy / Economics / Re: The reason that crude oil price crashed on: December 14, 2014, 07:25:45 PM
the shale supply has been going on for a few years, that doesn't explain why the price suddenly collapsed almost 50% in 4 months.
most shale oil production is not even profitable below 70$

something else is going on...
There is less global demand for oil.

It also potentially has to do with the fact that sanctions have been put on Russia which is a major oil exporter

This is the opposite of the truth.
Look at the data.

There is MORE global usage of oil, not less.
In fact, demand is accelerating!
With lower prices, you should expect usage will increase further and more swiftly.

This is really basic economics.  It is almost surprising to see such confusion on these things in a Bitcoin forum.



614  Economy / Economics / Re: The reason that crude oil price crashed on: December 13, 2014, 10:50:41 PM
The cost of some US shale producers is below $50. The cost of UK North Sea oil is about $70. These are profitable if  the oil price is over $100. A few years ago, it was expected that oil price would be over $100. There were lots of investments into oil sector. if those investors foresaw the oil price would be $70 now, they would not spend a penny into US shale or North Sea oil.

Well North Sea oil has been around since the days of the last fuel crisis.
Aka the Saudi era but true enough if they calculated fracking they would have just moved their dollars to the lowest cost area and get the gas out of there to maximize profits and keep the price down.

Once we run out of the cheap stuff then we have to go get the more expensive stuff.

Perversely, if they did foresee the price and didn't spend a penny, the price would still be over $100 because no supply increases would have occurred.  So what was done made sense.

At the lower prices, consumption will increase and then demand will rise as well.  Until then it will overcorrect and maybe whipsaw a few times.
615  Other / Politics & Society / Re: Illinois Just Made it a Felony for Its Citizens to Record the Police on: December 13, 2014, 09:33:09 PM
without the cmetm, Illinois would be in worst shape than Detroit at its worst. What saddening is that for what ever hubris the dear leaders are following there, they are ready to ditch the American dream... so sad. A2 is a premise of A1. Why can't I record the police? Isn't it the interest of all among the more perfect union to have the more perfect police that can justify it's action on tape, and be proud of themselves, and not hiding failures ala greenpeace? Anyway in the Iron Ring of Manhattan such deviant behaviors are always recorded... who is afraid of whom? you wanna play, welcome to the XXI century, bitches:).

It is unenforceable in any case. 
Every time they walk into a 7-11 for free coffee or go get some donuts, they will be on surveillance camera.
616  Other / Politics & Society / Re: Arrested for feeding homeless people on: December 13, 2014, 09:30:41 PM
think this is disgsting isn't it good morals to help others? What was he charged for?

The charge is a city ordinance violation for unlicensed food distribution in public.
617  Alternate cryptocurrencies / Altcoin Discussion / Re: Crypto Kingdom - 1991 Retro Virtual World(City) on: December 13, 2014, 09:16:40 PM
The Earl of Tavastia withdraws his offer to sell 25 shares of NLQI @ 2.0 and places a new offer to buy 25 shares @ 2.0 instead.

It appears that once again, the council of HM was swift and errorless.  By the charter of the business plan, due to shares purchased, the Marquess is bound by duty to offer the perhaps overgenerous amount of 2.70 Mm per share of NLQI to any current holder that wishes to see some immediate profits from this enterprise.  We will buy up to 50 shares at this price.

Perhaps some cognac in the cup of the enterprising Earl or any other NLQI shareholder will sweeten this prospect?  Who could turn down such an immediate and wondrous profit from only a year of owning some paper?

EDIT: Due to some active trading, there has been some price volatility.
The market now stands at:

Marquess Joseph making markets for NLQI:      
   avail qty   at price
WE SELL   10   3.50 Mm
WE BUY   40   3.00 Mm

No minimum order, fractional shares are allowed.
618  Economy / Economics / Re: The reason that crude oil price crashed on: December 13, 2014, 08:12:02 PM
But then we should throw this question around. How come Opec does not react to cut down the oil production. They could easily bring up the price if they want to and that is a big IF. It's a matter whether they want to do it or not. Is there some kind of agreement going on?Huh

The price of Oil going down is the sign that the USA and Europe economies are slowing down despite all the debt they are accumulating to buy some time before they fail terribly.

NO

You are looking at the wrong numbers.

The USE of oil has risen, not fallen, so this would suggest economic expansion not contraction.  The price indicates supply and demand.  Supply has surged more than demand, so price falls.

This cheaper price should be expected FURTHER INCREASE USE, and also increase economic expansion with the exception of oil extraction (oil refining and delivery/transport/pipeline operations will expand though).

This is really very basic market economics.  Maybe many people are accustomed to "government managed" economies and so it is confusing?

the shale supply has been going on for a few years, that doesn't explain why the price suddenly collapsed almost 50% in 4 months.
most shale oil production is not even profitable below 70$

something else is going on...

If you factor in the commodities futures markets, it explains it perfectly.

Most of the big oil consumer industries hedge their profitability using futures contracts.  This includes all the transport industries, and most utilities that are oil consumers.  Many of these contracts are several years out in expiration which can delay price movements and also make price move swiftly.

No strange explanations are needed beyond market economics.   Whilst it is true that some production capacity is in the direct control of some royal family and heads of state, a vast amount is simply companies doing business and not political at all.

Obama for example has very little control on price.  He can bully pulpit.  He can buy/sell from Strategic Oil Reserve (which is almost full already).  He can start wars police actions.  He can influence congress on approval/disapprovals of extraction operations in lands usurped by previous presidents as "National Parks".  None of this directly affects price or production.
He can do some really radical things like claiming imminent domain, but this would do massive damage to the American Economy as most foreign and domestic investment that can flee would do so.

So even if there is a conspiracy, who is conspiring and what can they do anyway?
619  Other / Politics & Society / Re: Arrested for feeding homeless people on: December 13, 2014, 08:02:35 PM
Even if he teaches food safety, it does not mean that he practices it. I have encountered a lot of bad teachers throughout my education (but lets assume that he is a good teacher).

One of the most important things about food safety is the importance of inspections and following procedure. If he does not have a license then he cannot be inspected.

There is no inhibition on inspection without a license.  Where do these fantasies come from?  All they have to do is show up.  The paper grants no magic powers of sight and smell.
620  Other / Politics & Society / Re: Illinois Just Made it a Felony for Its Citizens to Record the Police on: December 13, 2014, 07:20:28 PM
Courts are often completely insane.
You know they convicted Bernard von NotHaus of Counterfeiting because his pure silver medallions might be mistaken for the Nickle-Copper stuff the US Government makes?  So they confiscated millions of dollars of silver even though THEY LOOK NOTHING ALIKE.

Getting your day in court is not always what it is cracked up to be, especially when it is you against law enforcement and only a jury of your "peers" standing between you and a career ending felony.

BvN used the "$" symbol and even put the word "DOLLAR" on his coins.

You can't do that unless Congress says you may, via delegated authority.

The judge was pretty fair and kept him out of prison, much to the chagrin of the overreaching prosecutor thugs.

This Illinois recording law is being overblown with FUD.  It doesn't make it illegal to record where there is no reasonable expectation of privacy.  If it did, the courts would shred it in no time.

Neither of the issues you raised were of any significance in the trial, just in the press release issued afterward by the FBI to rewrite the history.  They would have been easily refuted in the court.  The press is more fickle.

For your edification:
There was never a "$" on any US coin before BvN (though on many Mexican Peso coins).  The word "Dollar" is also not unique to US coins and is on very many (Including Disney Dollars), coupons, coins, "Dollar Stores".  These words and symbols are not the purview of congress, and to think that they ought control such minutia would be pretty insane anyway.

The Sacagawea dollar was the first with a "$" and this was well after the BvN trial.  It also was disingenuously called the Sacagawea golden dollar, though not having ANY gold in it and made smaller to give the impression that it had more valuable metals.
So who are the counterfeiters really?  Such brazen disregard for the people of the USA by the US Mint was answered by this coin becoming the ridicule of the numismatic community and practically driven from circulation.

The US Mint copies BvN designs more than once, and then he has to change or be charged with counterfeiting.  The minting community is not that large, and most in it knows the story pretty well.  Where BvN lead, the US Mint followed.
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