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6761  Other / Beginners & Help / Re: Bitcoin Limbo? on: April 23, 2012, 09:53:37 PM
I read that if the transaction is not completed in 24 hours the bitcoins are returned to my wallet.

That is not how it works for Bitcoin clients.


I had 16 bitcoins in my wallet on the 16th before I sent the 13. I now have 3 coins in my wallet. Are the other 13 gone for good? Are they in bitcoin limbo? If they are gone what caused the problem to happen?

There could be a couple things happening.  Know that bitcoin doesn't lose funds.  Either they are spent or they are still available to you for spending (presuming you still have access to the wallet).

So possibly the transaction is not being relayed.  Is this wallet.dat possibly from a backup and the coins chosen for the transaction were already spent?

One way to force a recheck in the database is to do a -rescan

 $ bitcoin -rescan

Are you using a current client?
6762  Other / Beginners & Help / Re: Any hope of getting bitcoin now? (dwolla 30 day bullcrap : () on: April 23, 2012, 09:47:12 PM

I dont know what to do now, What should be my next step?

BitFloor (of NYC) accepts Dwolla USD for deposit and does not have the 30-day and other new restrictions for its Dwolla depositors.
  - http://www.BitFloor.com


[Update: BitFloor no longer accepts Dwolla (nor allows Dwolla withdrawals)]
6763  Other / Beginners & Help / Re: My first impressions on: April 23, 2012, 09:08:58 PM
Thanks for sharing your thoughts.  For bitcoin to further gain traction and get past the early adopter gap it it needs to be seen as useful to those who are not already using it, so you've presented valuable info.

However, even if the coins themselves are secure, the mechanisms used to store and exchange them don't appear to be.

There are different methods to store bitcoins, with varying levels of protection from the risks.  The greater the amount of value stored the greater the attention to the level of protection is necessary.  The methods that are the most secure also have higher costs (special-purpose equipment and knowledge, and the cost of inconvenience).   Thus is not unlike in the real world.   Paper currency in your back pocket or purse is cheap to manage and is convenient and is adequately secure enough that most people will carry around $100 or more without worry.  For amounts than that they use more secure methods (e.g., bank account).

involving multiple wallets, flash drives, live cds etc.  That might be more secure, but it might be way too complicated for the average non-technical minded person.

That's for people trying to store larger amounts of funds.  For "walking around money" levels, the current protections (passphrase-encrypted wallet with the Bitcoin client, or a password-protected Javascript wallet like My Wallet on Blockchain.info) are seen as adequate to most and don't require much technical skills.

I also note that a couple of major exchanges have been compromised.

And that gets lots of press, yet in those instances customers didn't lose access to their funds. Bitomat's funds were restored through Mt. Gox acquisition.  Bitcoinica ate the losses.  In each of those incidents the underlying security inadequacy has been identified and remedied.  There will always be risks and new vulnerabilities discovered -- so keep that in mind when considering how much and where your bitcoin (and fiat) funds are stored.

Of the exchange markets based in the U.S.  (Camp BX, BitFloor and previously ExchB) there had been no been no compromises reported and no customers reporting problems accessing funds.

Another thing is the ease of entering the market.  I considered buying bitcoins almost as soon as I heard about them, but I learned it's not a simple process.  None of the major exchanges take the more common online payment methods, with bank transfers being the only non-obscure option.

In the U.S., cash deposit at a bank through BitInstant is the easiest (though not cheapest) method.  BitInstant supposedly is coming up with a way to accept cash for getting funds into bitcoin for those from other parts of the world.

have a few good businesses that prefer BTC.  As it is, I suspect most people have to be convinced of the merits of the BTC system itself, and since most people aren't that interested in economics it limits the market.

There already are merchants that have this preference.   Coinabul is able to leverage bitcoin's strengths to be able to compete against other bullion dealers because Coinabul's competitors rely on the slow banking system or they have the added expense of payment cards in market that sees a lot of fraudulent purchases.

Here's a list of categories of merchants that might benefit from bitcoin:
 - http://bitcointalk.org/index.php?topic=73694.0

But for now it is a chicken and egg situation.  Those using bitcoins are a small market so merchants that consider it aren't immediately convinced enough to proceed.  

Finally, I think the value of bitcoins will be limited if they're only used in online transactions.  Not everyone in the world has a home computer with internet, and even fewer have the knowledge and means to properly secure their bitcoins.

The market for a merchant that sells online is orders of magnitude larger than one that requires physical presence.  For instance, GrubGo has a lot of enthusiastic bitcoin fans for its to-go restaurant delivery service, but only a tiny fraction of these fans live in St. Louis and can patronize them.

There are a number of solutions at the edge though.  Gift cards that can be spent at retailers but purchased using bitcions is one such area.  SpendBitcoins sells Kroger gift cards, for instance, which are USD-denominated and redeemable at Kroger, Ralphs, Food 4 Less, Fred Meyer, and elsewhere.  This lets you use bitcoins as a store of value but cash out to a fiat you can use without losing a chunk in the conversion to fiat.

Here's a thread describing the various ways Bitcoin is gaining traction:
 - http://bitcointalk.org/index.php?topic=76633.msg850690#msg850690

Maybe at some point in the future there will be bitcoin swipe cards, with service centers to convert BTC to and from fiat currency.

But everyone has (or will have) a mobile phone.  Particularly useful are smartphones.  Have you seen the Blockchain app for Android or iPhone?  As far as buying bitcoins when you only have one of these the BitInstant + Coinapult combination.

I'm sure what I've said has been said before, but like I said I guess I need to post something.

And you did a fantastic job with it.  Welcome to the bitcoin community!
6764  Bitcoin / Bitcoin Discussion / Re: VP of Amex asked about Bitcoin - "No comment, next question" on: April 23, 2012, 07:34:06 PM
Well they can't ignore us yet.

Quote
"First they ignore you, then they ridicule you, then they fight you, then you win."
Mahatma Gandhi (origin disputed)

Yup, exactly.  Chaord attended last year's Future of Money conference.  I think he participated ... like for a 60 second pitch or something?.

His conclusion though was something to the effect of "Only a few there had heard of bitcoin.  But nobody had a clue about it nor cared."
6765  Economy / Service Announcements / Re: Bets of Bitcoin - Bitcoin betting on real world events on: April 23, 2012, 07:53:32 AM
Just noticed that the session never expires.  Any web-based account that stores funds (my account has a BTC balance) should probably logout when there is inactivity at some point?

6766  Bitcoin / Bitcoin Discussion / Re: Bitcoin Day - Nominations on: April 23, 2012, 07:17:13 AM
Three calendar years.  

One of the highlights last year on this date was that Bitcoin had reached "thousands of nodes".  That same metric ended up at tens of thousands of nodes during the summer (using the same metric: http://stats.bitcoin.it/rrd/nodes_total-year.png ).  Other node count methods calculate differently: http://bitcoinstats.org/count.html for example.

Last's year's birthday post:
 - http://bitcointalk.org/index.php?topic=2579.0

I can't find the post but since the generation of blocks rather than the calendar time is more important, there have been suggestions to not use calendar time then to mark a "birthday".

Since bitcoin has an event every 210,000 blocks whose timing roughly correlates to an occurance once every four years, how about timing the event to one fourth of that 210,000 blocks.  Or every 52,500 blocks -- roughly one year, but will vary based on rates of change of difficulty.  This would put the birthday in December this year.  About December 9th, to be more specific.

6767  Economy / Speculation / Re: Will this weekend slump turn into a Monday bump? on: April 23, 2012, 05:47:51 AM
I think we'll end the week back below $5.

You might find it interesting that so does the binary option for that:
 - http://betsofbitco.in/item?id=325

1.09 on agree versus 0.85 on disagree.

So if it the exchange rate is under $5 at the end of the month (end of day Tuesday 4/30) those betting on agree win 90% of the wagers made by those that bet on disagree.  So the odds for that are in the neighborhood of 1.7:1.
6768  Other / Beginners & Help / Re: Absolute basic signing client on: April 23, 2012, 01:46:54 AM
Windows XP or NT 2000, on it?    I doubt you'ld be able to get a client (e.g., Armory, Multibit, electrum, etc.) to work on it due to hardware constraints.  Maybe electrum?  A lot of work to get it to work even if it could.

You could use its web browser (loading a page off of a flash memory storage medium perhaps?)  

 - The html from http://www.BitAddress.org  could then be loaded and used to create paper wallets.

I'm not sure how you'ld print from it though.

For transactions, the offline mode of My Wallet from Blockchain.info will let you create a spend transaction.  Keeping it entirely offline though it won't have any inputs with a balance that could be used for spending.
 - http://BlockChain.info/wallet
6769  Economy / Speculation / Re: Will this weekend slump turn into a Monday bump? on: April 23, 2012, 12:21:14 AM
Can Dwolla still be used to move money into, out of and between exchanges?  Or does the new restrictions put a damper on that.   If so, then that's a factor that weighs negatively on the exchange rate.

Will the Blockchain mobile app allow iPhone and iPad users to finally, for the first time, an easy, secure way to use bitcoins -- something they've not been able to use before?  If so, then that's a factor that weighs positively on the exchange rate.

Will BitInstant really have a way where from any of 700,000 locations around the world money can be transferred from cash into bitcoins somehow?   if so, then that's a big factor that weighs positively on the exchange rate.

Are there any entrepreneurs cranking away on some idea that will involve bitcoins in some manner?  If so, then that's a factor that weighs positively on the exchange rate.

As far as this being a "slump" though ... it isn't.  The exchange rate never got below where it was before the weekend, thus no "weekend dip" occurred.  Thus possibly no rally on Monday from those trying to snag the lower price.  Who knows.
6770  Economy / Trading Discussion / Re: Jered Kenna and 'scammer' tag? on: April 22, 2012, 11:34:47 PM
Step #15

Decide which legal entity this claim is against?  Jered or Tradehill?

 - http://egov.sos.state.or.us/br/pkg_web_name_srch_inq.show_detl?p_be_rsn=1525974&p_srce=BR_INQ&p_print=FALSE




(Step 1 was talk to a lawyer, by the way.  They'll know the correct steps to follow.)
6771  Other / Beginners & Help / Re: API for looking at transactions on: April 22, 2012, 09:23:48 PM
I am looking for a programming library that lets you do what block blockexplorer.com does.

Libbitcoin?
 - http://bitcoinmedia.com/libbitcoin-overview
 - http://bitcoinmedia.com/libbitcoin-first-steps
 - http://bitcoinmedia.com/libbitcoin-first-500-blocks

 - https://gitorious.org/libbitcoin/libbitcoin
6772  Economy / Trading Discussion / Re: Intersango GBP Market on: April 22, 2012, 09:18:35 PM
Does CurrencyFair come in handy for this? 
 - http://www.currencyfair.com/

That looks like a very interesting idea but I think any potential arbitrageur would still need to open a bank account in the 'foreign' country to move, for example, the pounds from Intersango to CurrencyFair.

I see, yes -- that's where the problem is.  You can only transfer to Currency Fair from your own bank account, apparently.  You can transfer out of Currency Fair (e.g., in USDs after the GBP -> USD trade) to any bank though -- e.g.., right back to your USD account at an exchange (e.g., Mt. Gox)

So this would be mostly only useful for someone that has a bank account in the originating currency.  So someone in the UK wanting to arb the BTC/GBP on Intersango against the BTC/USD on Mt. Gox, this would probably work well.    The problem is there are two sets of wire fees though, one for the transfer from Intersango to the bank and then again on the transfer from the bank to CurrencyFair.

There are a couple things that would solve this problem.  The issuance of Redeemable Codes by the exchanges eliminates the need for a bank intermediary. Also, a low cost cash transfer service, such as what Dwolla gives for USDs complements or can be a substitute for the Redeemable Codes as well.  If Barclay's PingIT, for example, could be used by Intersango to send GBP funds wouldn't that solve half the problem?
6773  Economy / Marketplace / Re: CoinDL Pricing on: April 22, 2012, 06:58:55 PM
Here's a good thread regarding commissions and royalties:
 - http://www.indieguide.com/thread/185
6774  Other / Beginners & Help / Re: New Alco Album @ CoinDL on: April 22, 2012, 06:48:20 PM
Bitcoiners, put your money where your mouth is and take this chance to support the biggest act yet to embrace Bitcoin!

This album is best music on the site so far!  Song 08 - Bend the Light is my favorite.
6775  Economy / Service Announcements / Re: [Announce] Coindl.com - a new digital downloads marketplace powered by Bitcoin on: April 22, 2012, 06:45:25 PM
So there's still my 1.7002 BTC remaining for new music!

With the purchase of Alco, I met my 2.0 BTC committment.

So, the new music (singles and albums) since my post last week:

 - https://www.coindl.com/page/item/127 Alco by Alco
 - https://www.coindl.com/page/item/138 Molly Ringwald Is Dead by Love Supine
 - https://www.coindl.com/page/item/113 Arc by Sean Gill
 - https://www.coindl.com/page/item/110 Tiny Pupils (Album)    by Tiny Pupils
 - https://www.coindl.com/page/item/109 Debut LP (Album) by Tiny Pupils
 - https://www.coindl.com/page/item/111 What is Bitcoin by Leo Treasure

That's just awesome to see!

I have quite a few new additions on my playlist now.  I give Alco an enthusiastic two thumbs up!
6776  Economy / Marketplace / Re: Artists: When, oh, when... on: April 22, 2012, 05:20:34 PM
Sometimes the artist will list an e-mail address, Twitter or Facebook.

 - http://www.Coinapult.com  (bitcoins through e-mail)
 - http://www.BTCTip.com (bitcoins through Twitter)
 - http://www.Bitcoin-App.com (bitcoins through Facebook [I think, I haven't used it.])

In the Youtube example, you could mention in a comment that you'ld tip if you could find a Bitcoin address to send to.
6777  Other / Beginners & Help / Re: API for looking at transactions on: April 22, 2012, 07:34:18 AM
All that seems like a lot of work to do for some small project. So I am looking for something ready made.

Does this help?

It displays the amount recieved by the address
To display the balance, just add the parameter &type=balance
like this:
Code:
http://bitcoinbox.ru/display/graph.php?btcaddress=1NgLdhjHfLbcVawMk4DNEv8yf9ZzzNJV6U&type=balance

See this thread:
 - http://bitcointalk.org/index.php?topic=75807.0

Or this:
 - http://www.BTCBalance.net
 - http://bitcointalk.org/index.php?topic=27669.0

Or this:
 - http://bitcointalk.org/index.php?topic=74559.0

6778  Economy / Currency exchange / Re: Paysafecard for BTC on: April 22, 2012, 06:39:33 AM
I am trying to contact the guy that is trading PSC for BTC, but exchange is really bad so far Sad

You could instead place a listing in the -otc order book showing your buy order yourself as well.  If you enter it above market, you'll sure to pique interest.

You'ld enter the order like this:
 ;;buy 50 BTC at "{mtgoxbid} * 1.05 * 1.31" EUR "PaySafecard EUR.  PM me"
Which is saying you are buying 50 BTC and paying about 5% over spot, presuing the USD/EUR exchange rate is 1.31

still looking. Anyone interested please contact me.

One thing you might try is creating a market.  Describe the uses for the PaySafeCard EUR.  It can be used to fund a Skype account, I believe.  In what other ways might PaySafe Cards be redeemed?

Are there other uses you might know of, which would help to persuade a trade into occurring?

Or does VirWoX take PaysafeCard EUR?
6779  Economy / Trading Discussion / Re: Intersango GBP Market on: April 22, 2012, 05:48:31 AM
a good way to move GBP->USD from Intersango to any of the other Bitcoin exchanges

Does CurrencyFair come in handy for this? 
 - http://www.currencyfair.com/
6780  Other / Beginners & Help / Re: Bitcoin is strangling my computer on: April 22, 2012, 05:33:07 AM
An online wallet would solve the problem all right but that defeats a lot of the things that made bitcoin attractive to me.

There are varyious types of online e-wallets.  A couple examples of hosted E-Wallets that hold your bitcoin keys would Paytunia and InstaWallet, for example.  The benefit is that you don't need to keep a backup yourself.  The downside is you are extending trust to the E-Wallet operator.

There are also Javascript-based wallets, such as StrongCoin and My Wallet from Blockchain.info.  Both of those do the encryption in the browser and then store only the encrypted data on the server host.  This gives the benefit of an online wallet without the security risk when trusting the wallet service's operator with access to your private keys.

It's a bit worrying for the future of bitcoin. Will the cumulative burden eventually overwhelm even hi-spec dedicated bitcoin servers?

On decent hardware the resources consumed by the Bitcoin client are fairly negligible.  Your laptop is probably at the edge of the "too limited in resources to provide a smooth experience".  It is probably perfectly functional as a bitcoin node, just that it doesn't allow for multitasking with your other resource-consuming functions.

One of the improvements with v0.6 was a much faster configuration setting for the database.  Are you still finding it problematic?

Related:
 - http://en.bitcoin.it/wiki/Scalability
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