Awesome!
What's that huge spike in the middle of the US? A secret bitcoiner enclave in the Kansas City?
fort meade's tor exit |
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Thnx, for figuring that out for me.  ... bit lazy like that. me too, i just did remember a thread where they where crying about it, and did some math about it. Now isn't it interesting that the $5 cost of production level is pretty damned close to the recent bottom that usd/btc just put in?
why is that? so because some random speculator panicked, and dumped a lot of coins, its the production cost? doesn't really make sense. Cost of production does matter just not in the way you might think .... if you've had anything to do with resource extraction economics you'll know exactly what I mean (otherwise you have some fair amount of research ahead of you). it would matter if it was a resource that we did use. like oil. and random economics does not apply to bitcoin. bitcoin haves a whole set of economic-theory-breaking stuff. like difficulty. you don't have that when you are mining for gold. gold is not easier to get when there are less there are mining it. I never said anything about btc being worthless so have no idea where you are coming from with that last statement. (they are worth exactly what someone is willing to exchange with you for them ... supply and demand). sorry about that. it just felt like you where screaming like all the other noobs about: "bitcoins is backed by nothing, or at least processing power, it is therefor useless!!!!!" Too much of what you said above is wrong for me to bother with replying to all of it ... you'll get there, keep looking up. If you take nothing else away from our brief discussion remember this; when btc/fiat hits cost of production it is cheaper to buy btc than mine .... so do the math on that one thinking first like a miner and then like a btc buyer ... as long as btc remains viable as a currency, cost of production will be very near the floor for the price ... buy low, sell high, get rich |
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You guys figure we've hit a support level yet?
Got a sensible figure for average cost of production? the avarage cost of production of a $100 bill, is very very small. still its worth $100 So you haven't got the slightest, foggiest notion about the average cost of production of a bitcoin? yes i do, around $4-5, right now. if it is all time, then its more like $0.5 because of all the difficulty-1 block. any way the production cost does not matter, because we bitcoins, have a very low overall supply of them. there will only be 21millions of them. if you think bitcoins are worthless, why are you still here? Thnx, for figuring that out for me. ... bit lazy like that. Now isn't it interesting that the $5 cost of production level is pretty damned close to the recent bottom that usd/btc just put in? Cost of production does matter just not in the way you might think .... if you've had anything to do with resource extraction economics you'll know exactly what I mean (otherwise you have some fair amount of research ahead of you). I never said anything about btc being worthless so have no idea where you are coming from with that last statement. (they are worth exactly what someone is willing to exchange with you for them ... supply and demand). Network enforced scarcity. |
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You guys figure we've hit a support level yet?
Got a sensible figure for average cost of production? the avarage cost of production of a $100 bill, is very very small. still its worth $100 So you haven't got the slightest, foggiest notion about the average cost of production of a bitcoin? |
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You guys figure we've hit a support level yet?
Got a sensible figure for average cost of production? |
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http://searchsecurity.techtarget.com/news/2240039221/Black-Hat-2011-Dan-Kaminsky-reveals-network-security-research-topics"Among the highlights were new vulnerabilities discovered using the peer-to-peer currency network BitCoin ... " "BitCoin, a digital, virtual currency system, was the platform for some of Kaminsky’s new research. BitCoin is a payment system that charges a low cost per transaction. Each transaction is digitally signed and broadcast, supposedly anonymously, over a peer-to-peer network. Kaminsky announced a new tool called BlitCoin that unmasks one or both ends of a BitCoin transaction."
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I'd say that bitcoin can be far more anonymous than gold. You don't really have that much experience with using cash or gold do you? |
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Pseudo-anonymous ...
... bitcoin's biggest deficiency as money, imo.
So you wish it to be 100% anonymous? Or? Is gold anonymous? |
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No, it's not "just theory".
By observing timing and size of network traffic bursts, one may deduce who is the sender of a bitcoin transaction, even if the network connection is encrypted. And by default, the connection is not encrypted.
This is obviously predicated on someone already observing you, as well as actively sampling the P2P network. If you find out about a crime after the fact, it is a lot more difficult to associate a transaction with a network address.
Other spends from the same wallet may compromise your identity, if you have ever posted a public bitcoin address somewhere.
In a closed ecosystem without ISP wiretaps and social engineering, bitcoin is highly private. Use of dead drops, transaction delaying, mixing services and other means help increase anonymity, but are too difficult / time consuming for most people to want to use. So we must live in the real world, where methods of discovering who is using bitcoin are already well known and used in the field today (keylogging, data sniffing and snarfing, network timing analysis, ...)
But in practicality, who has the means to carry out these kinds of traffic analysis and ISP connection snooping? Government agencies. Go figure on that one. |
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Pseudo-anonymous ...
... bitcoin's biggest deficiency as money, imo.
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It is my belief that bitcoin is not yet ready for users uncomfortable with the command line, I agree. It should be the first question someone asks an exchange before committing funds ... "do you have someone on your team who can do CLI encryption and bitcoind calls?" |
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bitcoin does a lot of disk activity so hardware is a consideration. If you run this 24/7 you may expect USB drive failures (got back-up?), I corrupted a USB running bitcoin like this. What is a perhaps a better method, not quite as secure but just about, is to move the whole -datadir into a RAM disk (/dev/shm/ on ubuntu/debian), although it is quite large but still doable at around 700-800Mb. 0. Mount USB with bitcoin client and datadir (Ubuntu/Debian) 1. Check available space on RAM disk $ df -h
Filesystem Size Used Avail Use% Mounted on
/dev/sda1 53G 8.9G 42G 18% /
none 743M 668K 742M 1% /dev
none 749M 1.5M 748M 1% /dev/shm
none 749M 96K 749M 1% /var/run
none 749M 0 749M 0% /var/lock
/dev/shm needs to be bigger than 750M. Make sure you aren't running some other RAM hogging code that could cause issues (i.e. don't run any other programs unless you know what you are doing.) 2. Copy .bitcoin folder onto RAM disk $cp -R /media/MyUSBDrive/.bitcoin /dev/shm/.bitcoin 3. Run bitcoin bitcoin -datadir=/dev/shm/.bitcoin When you are done copy the whole thing back from RAM onto USB (first $srm the existing wallet.dat on USB if one exists, make sure you have another copy of wallet.dat elsewhere because at this point you will only have one copy and it is in RAM, be careful) and then reboot. 4. Secure remove previous wallet $srm /media/MyUSBDrive/.bitcoin/wallet.dat 5. Remove existing datadir on USB drive $rm -rf /media/MyUSBDrive/.bitcoin 6. Copy everything back from RAM onto USB drive (could also do an update and skip step 5 above) $cp -R /dev/shm/.bitcoin/ /media/MyUSBDrive/.bitcoin 7. Check wallets are identical (probably should encrypt first anyway but outside of scope here) $diff /dev/shm/.bitcoin/wallet.dat /media/MyUSBDrive/.bitcoin/wallet.dat 8. Reboot. |
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I'm a bit disappointed in Cablesaurus.
I must say, for a business that depends on the Bitcoin mining world, they don't seem to be doing much to promote direct Bitcoin spending.
They are only paying 12.14 for BTC, when the Mt. Gox price is actually 13.51!
So they're giving you 90% of the actual value of your BTC.
Sure, they accept Bitcoins -- but they should be PROMOTING Bitcoin use by giving you 105% or 110% of their value -- not 90%!
WRONG. DIRECTION.
I'm sure many others besides me have said this -- if we business owners want to be free of the shackles of Visa/MC/Paypal, we're going to have to help Bitcoin off the ground. Giving customers 10% off would go a long way toward that goal.
Not charging them 10% more! People will never use Bitcoins if every business does this. I actually mine BTC, but I'd never spend them if I got 10% less goods with them vs. cash.
Bad form whinging here. Start your own service if you don't like it .... |
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I (and others) can compile earlier versions of wxwidgets, earlier clients, and on earlier versions of Ubuntu. If you has actually compiled 0.3.24 on Ubuntu 11.04 yourself, please post your magic sauce. On a related note, if you are going to try testing with release candidates for 0.3.25 (0.4) that has wallet encryption then you'll have to use the latest version of wxWidgets 2.9.2 (need to build and install somewhere yourself) ... or you can use the patch on the previous version found in https://github.com/bitcoin/bitcoin/blob/master/contrib/wx-patches/README |
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You guys are doing some ambitious stuff here, has been a great thread to follow. The first one I click on in new replies section. Am very interested to see how the testing phase goes ... keep it up. |
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Bump. 2nd attempt, read OP.
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The current difficulty (94k) makes NMC really not worth mining... why still do it??
It is still profitable to mine namecoins, just not insanely profitable for 2 days ... the potential upside for NMC needs to be taken into account when looking forward to future profitability of today's mining also ... dyodd http://tvori.info/bitcoin/charts/ |
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