I made the bitocin.conf in the right place, and started it with -server and it tells me I need to make bitcoin.conf with rpcpassword=<password> I did that both with the "<" and without. It also told me to make it owner read only, and I don't know if I did that successfully or not, is that important? Is there a simple way to get it right?
Without knowing what exactly you put into your file, I don't know how to help you. rpcpassword=<extpass> is the entire contents of the file. I also tried: rpcpassword=extpass |
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I made the bitocin.conf in the right place, and started it with -server and it tells me I need to make bitcoin.conf with rpcpassword=<password> I did that both with the "<" and without. It also told me to make it owner read only, and I don't know if I did that successfully or not, is that important? Is there a simple way to get it right?
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Yes but bitcoin is at an all time high too!
Ahh, please don't try to ruin my business  Still, 1,500 BTC or even 2,000 BTC wouldn't be outrageous. 1200 |
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I think people will find it cool that having coins means actually having the keys in a file on your computer.
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I'm getting "Error validating address string" when I try to send. I have 3.14
Did you start the bitcoin daemon? Oh, no. I need to download that separately and just turn it on? |
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Gold is almost at 1,400$/once right now. You still have a few blocks left to have a chance to get 5g of gold for 1,200 BTC only !
Don't delay too much before you send me your bid.
Yes but bitcoin is at an all time high too! |
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I'm getting "Error validating address string" when I try to send. I have 3.14
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Aha, thanks for the explanation.
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For those who don't trade on margin, the existence of margin trading tends to exaggerate the peaks and troughs of the market. When prices are rising, it greatly increases the number of BTC that can be bought, causing the price to rise further. When prices are falling fast enough to force liquidations, it greatly increases the number of BTC that are being sold, which depresses the price further. I don't mind this, because it gives me more opportunity to buy very low and sell very high.
I think that's the rub: margin trading dramatically increases volatility. I see cases where it obviously does. But if someone wants to make a bet that bitcoin will hold above the .15 level they can offer twice as much support if they double up, right? So now it's less likely to drop below .15, but if it gets below .08 it blows out even more. It seems if people's bets and leverage are not correlated it should roughly even out. But I don't know. |
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There is one legitimate way to generate bitcoins without increasing your electricity bill. It only works if you are currently using resistive electric heating to heat your house.
In that case you turn off your electric heaters and start up a bank of computers generating bitcoins. The computers perform the computation, then release 100% of the electrical energy as heat, so you get exactly the same amount of electrical heating for your money, but the heat came as the waste product of computation which is then effectively free of cost.
The problem is that heating by resistor elements is not the most efficient way of heating. Heat pumps are more profitable. I was wondering about that. But where does the energy go besides heat? There isn't any motion or light. |
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I wouldn't have to ID you.
Say:
You deposit X BTC.
You open a position for Y BTC/USD.
BTC/USD goes down a little so your position is only worth (Y-X).
I liquidate your position.
Now mtgox has (Y-X) + X which = Y which is the amount of the loan.
The exchange hasn't lost anything so I don't need to know who you are.
I get how it works when there enough bids at the right prices. But how is this guaranteed? |
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There is one legitimate way to generate bitcoins without increasing your electricity bill. It only works if you are currently using resistive electric heating to heat your house.
In that case you turn off your electric heaters and start up a bank of computers generating bitcoins. The computers perform the computation, then release 100% of the electrical energy as heat, so you get exactly the same amount of electrical heating for your money, but the heat came as the waste product of computation which is then effectively free of cost.
Yep, bitcoin will be a cold weather export :-) The "financial districts" of the future will be interior room home offices in Canada and Russia, lol. |
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Billed the difference and pursued outside the exchange. Certainly not forgiven. If your margin balance drops too low all your positions are liquidated This suggests to me that MtGox would liquidate before the margin is exhausted (i.e. when it drops to some percentage) which gives the exchange some leeway for a further drop in price before the liquidation can be carried out. I thought so, but that would kind of change the nature of mtgox. He hasn't really seemed into IDing people and such. I guess I assumed he didn't want to and was wondering if there was some secure way of using margin without tracking people down. But maybe he does want to do that. Options trading could be foolproof in this sense, right? |
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Suppose you buy $100,000 worth of bitcoins on a margin of $1000. The moment the value of those bitcoins drops to $99,000, the exchange sells them. The proceeds of that sale, plus your $1000, gives the exchange its $100,000 back.
What if there is no bid there? Liquidated a little below and billed the difference or forgiven? |
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Will you guys please start talking in English?  Yeah, at least when I go to the other language forums chrome can detect and translate. I'd have to do it manually here, and that's a lot of work. But it is really cute that you guys can talk in code like that  |
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how exactly would the margin be secured?
If I have $1000 cash in account and lose $1500, how will the other side be compensated? Or if I have 1000 btc and lose 2000 btc, where will the other 1000 btc come from?
I wonder also. My thinking is that "margin trading" means taking a loan from the house. Is this not the case? Maybe options make more sense for levered trading? I guess some brokers will automatically liquidate your positions when you run out, but that's only going to work if there is lots of liquidity even after a large price move. |
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That's a feature.
Also bitcoin advertises there is no central authority, and that's obviously untrue, this code should either be dropped or its effects should be stated clearly in the docs according to me.
The point is that you can change it. We currently choose to run the official software, we won't if it becomes a problem. That's not central control, it's just people making the rational choice at the moment. If the situation changes we can choose a different implementation. Locking in the chain 1000 blocks back doesn't seem important to me at all. If the most used client starts locking in every 3 blocks, then I'm out. This thread is just making a huge deal about a temporary, easily changed, unnecessary to change issue. Write or pay for a client that doesn't lock in the chain at 76000 or whatever and you'll operate the exact same way, tada, "problem" solved. |
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Will MtGox shows volume for dollars?
Also show all bids and asks at all times! I don't care if the graph is complete, but please make the table complete. |
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