Latest posts of: solracx

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701

on: May 02, 2013, 01:43:23 AM

Quote from: AlexMerced on April 28, 2013, 02:25:41 PM Do I just change the phrase and the software will hash it, or do I need to Pre hash the text? Choose a date. Change the text. Start with nonce = 0. Have it calculate the new block. Get the block hash and make it the merkel root. Done.

702

on: May 01, 2013, 12:49:54 AM

Quote from: LaggedOnUser on April 28, 2013, 08:42:13 AM This would greatly reduce the amount of actual bitcoin transactions needed, thus taking pressure off the network. The bitcoin network would resemble more an "interbank clearing network" than an "all to all transaction network". Since small transactions, such as buying a cup of coffee, only result in an internal ledger entry in the bank, they can be done instantly. Furthermore, having less transactions on the network makes it run faster overall (solves "confirmation delay" problem). I will have to strongly agree with this. People are focusing too much on the need for BitCoin handle the 'last mile' of the financial transaction. I however think that its actually strength in not in this area. Right now it is a store of wealth (due to its deflationary structure) and a means to transfer a huge amount of currency across borders. To add any other capabilities really may require an alternative currency.

703

on: May 01, 2013, 12:31:40 AM

BitCoin cannot by itself serve successfully all the interests of its users. The user base will prefer alternative coins that have different rules. Also, having only a single currency like BitCoin is akin to having a single European currency like the Euro. We've seen the pros and cons of this. The cons however are that a single currency does not allow countries to insulate themselves from other countries. Multiple currencies allow that form of isolation and protection. A country like Greece is unable to devalue its currency and make its services competitive with the rest of the euro zone. A single European currency removes that kind of flexibility in the same way a single crypto currency does. I can for example envision an alternative currency where anonymity is not prized as much as bitcoin or alternatively a currency where complete anonymity is built in. Each one is ideal for different use cases. Bitcoin right now with it deflationary structure is not ideal for regular commerce where prices are expected to be more stable. Bitcoin appears to be a store of wealth like Gold. However, something else may emerge that will be the currency of exchange. Only time will tell, but rest assured, multiple crypto-currencies are going to be the norm.

704

on: May 01, 2013, 12:17:25 AM

Quote from: SilverandBitcoins on April 30, 2013, 09:18:22 PM You seem to have an intelligent and realistic way of analyzing crypto currencies, but one thing you neglected to mention that bitcoin has going for it is that it cannot be printed/inflated by bankers and the government to meet their own agendas. It's more like honest money- like gold is in theory. +1

705

on: April 30, 2013, 11:48:43 PM

Quote from: FinShaggy on April 28, 2013, 08:39:44 PM MUST READ THREADS!!!!!! The END of modern Slavery/Let the Machines Do the Work: https://bitcointalk.org/index.php?topic=189853.0 Solar Powered Mining: https://bitcointalk.org/index.php?topic=189959.0 I'm new here... https://bitcointalk.org/index.php?topic=180206.0 Quote from: FinShaggy on April 29, 2013, 01:21:43 AM Post any other threads that you think are important, in this thread. Thanks!!!

706

on: April 30, 2013, 11:48:08 PM

gigabyte 7950

707

on: April 30, 2013, 11:47:18 PM

Multibit. Does not require downloading of the entire block chain.

708

on: April 30, 2013, 11:46:07 PM

Quote from: warsnoopy on April 30, 2013, 01:27:22 PM Anyone here just want to say some general things about Litecoin? I own some, traded my bitcoins into it and have made a nice profit so far. Ive been reading lately about some guy named LukeJR who has been deleting wiki pages and trying to destroy the LTC system as a whole. Guess thats all I have to say so far. LTC uses a different proof of work than BTC. It uses one that has been designed to be prohibitively expensive to build an ASIC. In fact, if you look at the charts, LTC exploded in the exact month and day when new ASIC miners got into the wild. It has run almost 4000% since then.

709

on: April 30, 2013, 11:43:48 PM

Quote from: Prefinem on April 30, 2013, 10:36:48 PM I would assume that as soon at LTC becomes available, there will be a jump in conversion rate (in favor of LTC) as more people will have access to it. Hold on tight Trading at BTC-E indicates that it could be in just a few days.

710

on: March 21, 2013, 05:44:34 PM

Quote from: mel2000 on March 21, 2013, 05:17:16 PM Bought last week at 45, now my Coinbase transaction won't leave the Pending status that it should have left yesterday. I am not happy. Same problem here. Can't seem to move money out to other wallets. Somthing may be amiss here!