Decided it was a good time to permanently switch my 1.7GH to BTCMine...  I wonder how much deepbit's overall pool will drop because of this downtime? |
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That is, walk you through it step by step asking for confirmation of each step ("wizard") and possibly even (a la "guru") actually attempting to explain what it is all really about despite those who prefer the "wizard" approach wanting very very much not to ever ever have to understand anything about anything and most certainly not anything even remotely related to computers or computing.
Some highly technical thing that most regular people will probably answer wrong (meaning, in a way that won't get them the behavior they will later wish they got) and which must be answered every single send? MEH. People can't be expected to think through the consequence of every transaction. Sometimes you won't realize until long after the fact that you really wish some payment or another had been more anonymous. The system should try to avoid creating situations the user will regret if it can. How about just keeping track of when backups were taken via the formal backup function and whining at the user once they get low on keys which have been backed up? Once the encrypted wallet support is in— how about integrated online backup support?… if there was a feature integrated in the client I'm sure there would be no shortage of people selling backup services that accept a few bitcents in exchange for keeping a copy of your encrypted wallet in some web accessible place. These things would solve more problems and be much more user friendly than some complicated decision with every TXN. I endorse this idea. Add to the client an automated backup system. You click a button to back up, it encrypts your wallet file with the password of your choice and uses a file system browser to ask you where you want to store it. You select your thumbdrive, have a nice day. It warns you to back up again when you are down to 25 and 10 and 0 remaining keys. Also add a restore button that allows a person to easily and quickly import a wallet file provided they know the password. |
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1 post to advertise a website?
I'd think you were a bot if it wasn't for the fact that the information you present is actually semi-relevant to this thread.
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AND, this is the first time I've seen the block average at bitcoincharts.com under 6/hr!
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Hmmm.... donations total 8BTC at this point.
5-10% = 3.25*0.075 = 0.24375 BTC more per day for me, on average.
= 8.2 days to pay off.
Not sure what to think...
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I will contact the three bounty-givers via PM and see what they would like to do. Not sure if they are now withdrawing their bounty, or just haven't bothered to check this thread.
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What? Wait a minute. Are you saying that you control that hashing power? If so what are you running 1000 5970s?
He doesn't, lol. People are just saying stuff to get attention, but they're all a bunch of liars. The word is sarcasm. No need to be an ass. How am I being an ass? |
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What? Wait a minute. Are you saying that you control that hashing power? If so what are you running 1000 5970s?
He doesn't, lol. People are just saying stuff to get attention, but they're all a bunch of liars. |
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Some people just can't get it! You keep up building mining rigs and all you'll get is increaced difficulty to a point where you won't even be able to pay your electricity bills.
So keep up building $2000 mining rigs you idiots! Let me see you pay them.
I can see it now ... the second hand GPU market will be flooded with cheap ati cards.
That might be true, but in the meantime, I'll take my $30/day of freshly minted bitcoins. These charts seem to indicate that a lot of people have called it quits though too. I expect difficulty to be nearly flat this next time around... 10% is my projection. http://bitcoin.sipa.be/ |
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I'd welcome lots of inflation with open arms. With your net worth is negative, it helps.  |
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Is there a reason retailers couldn't accept 0/unconfirmed transactions? I mean, the only way that those transactions wouldn't be confirmed is if they were generated from a double spent, right? And anyone who is trying to double-spend on the network would probably go after bigger fish than a retail store?
Maybe I'm wrong. But it seems like bitcoin fraud on a 0/unconfirmed transaction would be just as difficult as something like forging a check, and retailers could simply create a bad debt accrual account for it.
I've heard that it only takes a few seconds for a 0/unconfirmed tx to show on every client. If it takes longer, a client could be created that allows direct connection from client to client. When you walk in to walmart, it detects the proximity of a "retailer" client, and automatically connects to one of them. That way, you are assured that the transaction will show up instantaneously.
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Mmmm, I would like such a change as well.
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My 5850 (paid for by bitcoins) is a fantastic gaming card. No reason to go NVIDIA IMO.
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I suspect a lot of the casual miners who came in with the last big round of press hits are getting out. Those who were CPU mining for a month or two and made less than they spent on electricity, or the NVIDIA miners who barely broke even, or even lost. At this difficulty such mining isn't really worth it. And, summer hit with a vengeance here in the US on the day before the difficulty rose. I suspect some of the miners just can't stand the heat anymore. Mmmm, good point about the heat. I have a friend in CA who is jealous of my mining, and he has a card that would do 100MH/s at least, but he won't mine because he said his room is already too hot. Those of us who are adults can just go out and buy something to cool the room with, but some younger miners might not have that option available, and would just shut down the miners instead. |
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What rules would you make differently?
A couple of rulesets I've thought of:
1. Each new wallet gets a predetermined number of coins (say, 50). Mining is paid for by transaction fees only, so coins are only added to the network through new people joining. This would be to fight against the early adopter billionaire issue (if you want to call it an issue). Downside is that I can't think of any good way to prevent someone from creating wallet after wallet and dumping it all to a single address.
2. Similar ruleset to what is currently in place, only there is no decrease in the 50 BTC bounty for each block found. This bounty would continue indefinitely, to help balance against the loss of bitcoins through lost wallets.
3. Bitcoins are given according to hashing power provided. This would make the currency highly inflationary for the earlier periods of adoption, and inflationary to some extent virtually forever. Say, for every GH/s of mining capacity a miner has, they are paid 1 BTC per day.
I am curious to hear why you would or would not rather have one of these rulesets. Or suggest your own. Note that I am not saying that any of these should be adopted, or endorsing them in any other way, I am just curious to see what other people have to say about them. I think the current setup is pretty dang good, except for the early adopter problem. It's too exponential of an issue to allow universal acceptance of bitcoins as a currency, IMO.
Regardless, thoughts?
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Please read the thread. I did. I still don't believe that chart is accurate. Something is wrong. Why else would the difficulty level drop a large amount EXACTLY when difficulty level increased? Probably because people are saying "screw it", and turning off their miners. It doesn't make sense if you look at the numbers, as mining is still very profitable, but threads here have already shown that some people are no longer mining due to the difficulty. |
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deepbit.net is down! that is why.
It hasn't been for me... been getting normal rates. |
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$10 on June 5th, 6:44 PM
$25 on August 18th, 5:50 PM
$1 on August 19th, 4:18 AM
$46.58 on December 31, 11:59 PM
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This is... GREAT news for those of us still mining! Hopefully this is a sign of difficulty beginning to level off... I doubt it will stay that low, but I can hope, can't I? |
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I don't understand the conversion of watts to BTUs with regards to A/C units...
I have a Window A/C unit rated at 10,000 BTUs, but it only draws 9 amps max, which is equivalent to 1,080w. Yet on the wiki site, it says that 12,000 BTUs is 3,517w.
I would have expected A/C to be LESS efficient than heat at the same wattage, not more... so is it true that a 12,000 BTU A/C unit can remove 3,517w worth of heat?
Your A/C isn't a heater or a cooler, its a heat pump. It moves heat from one place to another. Takes the heat in your room and pumps it outside It's not converting the electricity in to cold and pumping it in. The electricity is used up whiel the A/C does the work of moving the heat from inside to outside. Dang... well that's cool! Thanks for the explanation. |
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