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7741  Other / Beginners & Help / Re: The new Intel Phi 50 core PCIe board on: November 15, 2012, 04:37:41 PM
How did you get to these numbers?

SWAG = Scientific Wild Ass Guess. 

Comparing to Intel existing x86 chips they acheive 1MH/s to 5 MH/s per core.  I split the difference.  Still if it is 5x better it doesn't really change the scenario much.  ASICs are just so massively powerful than if this board had 200 CPU for half the price it wouldn't compare.
7742  Other / Beginners & Help / Re: Best place to SAFELY buy bitcoins with Paypal! on: November 15, 2012, 04:34:30 PM
I've found the best place to buy bitcoins is on Fiverr, so I posted a gig myself, check it out.

http://fiverr.com/spike1104/send-you-15-btc

Uh you do know that anywhere (including a dark alley) is the safety place to buy Bitcoin.  It is called chargeback.  
There is no risk on the buyer, only on the seller.

If the seller rips you off then you dispute the transaction.  Hell if the seller doesn't rip you off, you can still dispute the transaction.
7743  Economy / Service Discussion / Re: Micon blew up hash king and Patrick harnett on: November 15, 2012, 04:32:44 PM
Huzzah to the inventor and developer of BTC, Byron Micon.

Wait, what?

Inventor?
Developer?

I think his self-apointed title is now God Emperor of Bitcoin
7744  Economy / Gambling / Re: Are bitcoins casinos really pointless? on: November 15, 2012, 04:30:48 PM
It depends.  If Bitcoin never gets any bigger essentially no bitcoin buisiness is worth it.   None.  Not even MtGox.  However nobody putting money and labor into a bitcoin enterprise is doing it for the small sums they will net today.  They are doing it because what "if" bitcoin is bigger.  Not a little bigger but much much much bigger.  What if someday there are tens of millions of Bitcoin users.  Then being an established and trusted [casino|exchange|retailer|auction house|marketplace|etc] is suddenly very much worth it.

IMHO Bitcoin will either be much bigger or a footnote in history in 3-5 years.  It won't remain the status quo.
7745  Other / Beginners & Help / Re: An idea to speed up bitcoin transactions on: November 15, 2012, 03:49:58 PM
Who is going to risk getting caught in a double spend for a $5 steam game?

Depends. What is the consequence of getting caught doublespending, assuming no real names are attached to the address?

The merchant keeps your money.  If you have multiple games attached to a single account (aka steam) then steam bans your entire account (losing all prior purchased games).    Bitcoin doesn't need to be 0 fraud, trying to make it 0 fraud is making "perfect" the enemy of "good".  If Bitcoin has LESS fraud and LESS cost than credit cards it will rapidly displace that form of payment.

I honestly think the "double spender" around every corner is way overblown.   We routinely sell prepaid cellular refills and only require 1 confirmation and often give repeat customers the code after 0 confirms.

How many people on the forum have been a victim of double spending? 
How many people of the forum have been a victim of CC/PayPal/ebay fraud (so called "friendly fraud")?

Still if one is ultra-paranoid the system the OP described already exists.   It is called a green address.  If the funds come from a third party and you trust the third party then you can trust there is no double spend.  In this case the largest such "trusted third party" is MtGox.   Very few merchants check and deliver based on green addresses though.   The risk really isn't there OR if the merchandise is very high value one is better off waiting for confirmations rather than trusting MtGox.
7746  Other / Beginners & Help / Re: An idea to speed up bitcoin transactions on: November 15, 2012, 03:38:40 PM
That already exists.  It is called Green Addresses.  MtGox has a green address for example.  IF a merchant trusts MtGox not to double spend they can delivery on 0-confirm tx coming from MtGox green address.  It hasn't really caught on though. 

There are a couple of reasons:
1) if the tx is low value you likely don't need confirmations.  Who is going to risk getting caught in a double spend for a $5 steam game?
2) if the tx takes longer than an hour to deliver you are waiting anyways (i.e. mailed goods)
3) if the tx can be revoked the merchant has no risk (i.e. MMORPG subscription, or poker room deposit)

So essentially the only people who are really hindered by confirmations are merchants who sell high value transactions which are delivered digitally and are irreversible.  Despite the gnashing of teeth the reality is almost no commerce falls into the category except maybe exchanges.
7747  Bitcoin / Development & Technical Discussion / Re: More the 8 connections on: November 15, 2012, 03:34:18 PM
The client hasn't used IRC for a long time.  Keep that IRC port closed.
7748  Other / Beginners & Help / Re: The new Intel Phi 50 core PCIe board on: November 15, 2012, 03:33:23 PM
Would a miner take advantage of these new cores without any (or little) code changes?
http://www.drdobbs.com/parallel/intels-50-core-xeon-phi-the-new-era-of-i/240105810?donkey

Yes and no.   The cores run x86 and are not OpenCL compatible so the mining kernels would need to be recoded and recompiled.  This is a pretty trivial requirement.

The major killer is cost.   Looking at the specs my total SWAG would be 2 MH/s per core that would be 100 MH/s per board.  At $2600 each it would be hard to compete with GPUs.  Forget about competing with FPGA or ASICs.

Now for LiteCoin.... maybe but unlikely.  Against a real "memory hard" algorithm (LTC was intentioanlly weakened in this respect) it would be powerful and would be a "CPU killer".  Kinda shows how silly it is to put limits on coin mining.  Eventually something will come along.

Say BTC was designed to be really memory hard such that avg GPU barely outperformed the average CPU.  This is like getting 10+ CPU on a board.   You could build a rig with 8+ of these boards and out power 80+ normal CPU nodes.   Technology always finds a way. 
7749  Bitcoin / Development & Technical Discussion / Re: More the 8 connections on: November 15, 2012, 03:10:02 PM
Hello, I am experimenting with bitcoin-qt. I've added several dozen addnode references. However, getconnectioncount always shows 8 peers. What do I need to do to get more peers connected?

Can you tell me why you've added "several dozen" addnodes?  I'm asking because I want to know if there is some documentation I need to get updated that is causing people to think that they need to do this.


I heard it is what all the cool kids are doing.  Kinda like turning off the paging file in Windows. Smiley
7750  Bitcoin / Development & Technical Discussion / Re: Who gets the Transaction Fees? on: November 15, 2012, 07:03:34 AM
So as i understand it now, when i solve a block, i get all transaction fees that will come up in the future?!?

No.  Huh

(I am going to bed).
7751  Bitcoin / Development & Technical Discussion / Re: Who gets the Transaction Fees? on: November 15, 2012, 06:35:31 AM
Well maybe im just too tired to get the point, please be kind.
When a block is mined the bitcoin get distributed, so considered i sent one if these mined coins, somebody gets a fee, who is that?
I just wonder because the bitcoin we sent thre could be sent other 100 times, and everytime a fee is payd.

I don't really know how to answer it any simpler.  It has been asked and answered twice.

If you create a transaction ... that transaction will be included in a block.  Only one block (in the best chain).  That block will only be found by one miner.  Not bunches of miners, not every single node a single miner (in a pool the reward is split but it is still found by one miner).  The miner/pool who solves the block will get ALL the tx fees of all the txs included in the block.  Period.

7752  Bitcoin / Development & Technical Discussion / Re: Who gets the Transaction Fees? on: November 15, 2012, 06:22:12 AM
Those fees are called transaction fees and they go the miner who solves the block that includes the transaction.  If you want transaction fees you need to mine.
So then, since I mine at EMC, Inaba gets all of my transaction fees?

I am not sure EMC policies.  Some pools keep all the fees, some pools pay out the fees.  If your pool doesn't payout tx fees then you can consider it a hidden tax/fee.
7753  Bitcoin / Development & Technical Discussion / Re: Who gets the Transaction Fees? on: November 15, 2012, 05:57:52 AM
If I am not mistaken, the fees go to support the network (server nodes). Who is hosting these nodes? Is it possible for me to host one, and collect a small amount of BTC. I never really thought about how it works. Figured I'd inquire.




Miners get the transactions fees for the transactions that are included in a block they solve.

Yea, but guess he means the fees you pay when sending now some bitcoin to another wallet, i want to know this too, never bothered with it.

Um Huh

Those fees are called transaction fees and they go the miner who solves the block that includes the transaction.  If you want transaction fees you need to mine.

Block Reward = (Block Subsidy) + (tx fees for all transactions contained in the block)
7754  Bitcoin / Development & Technical Discussion / Re: Who gets the Transaction Fees? on: November 15, 2012, 05:53:12 AM
If I am not mistaken, the fees go to support the network (server nodes). Who is hosting these nodes? Is it possible for me to host one, and collect a small amount of BTC. I never really thought about how it works. Figured I'd inquire.

Miners get the transactions fees for the transactions that are included in a block they solve.
7755  Other / Beginners & Help / Re: Have bitcoin wallet and address but do not have any wallet.dat file. on: November 15, 2012, 03:11:43 AM
Maybe a Mac User can provide more insight.  You have launched the bitcoin app (it doesn't create data files until startup) and closed it before checking for files right?
Does Mac OS have a file system search function?  the file will be named "wallet.dat".  You may want to put [OS X] in the title of your question.
7756  Other / Beginners & Help / Re: Safest way to cash in? on: November 15, 2012, 01:25:37 AM
Thanks - I will definitely check out your service.  If I ask for a bank wire, do you send the wire the same day I send the coins (assuming I do it in the morning) or will it take longer?

Generally speaking yes.  Our cutoff time is 4PM EST.  If your order CONFIRMS prior to 4PM EST then it will be sent the same day.  If it is after 4PM EST, on a weekend, or on a Bank Holiday it will be sent the next banking day (Mon to Friday excluding federal holidays).   Most banks will post a wire to your account the same day it is sent.  A few may delay the posting of funds until the following morning.  It has been our experience these tend to be smaller banks and credit unions.  Not sure if they have some internal undisclosed cutoff time.  Sadly there is no blockchain equivalent for bank wires.
7757  Other / Beginners & Help / Re: Have bitcoin wallet and address but do not have any wallet.dat file. on: November 15, 2012, 01:21:15 AM
https://en.bitcoin.it/wiki/Data_directory


Quote
For Mac OS X
/Library/Application Support/Bitcoin/

You have no wallet.dat file in the /Library/Application Support/Bitcoin/ folder?
7758  Economy / Currency exchange / Re: [OUT OF COINS] Bitcoins Direct - Private off exchange sales on: November 15, 2012, 01:18:23 AM
Update for 11/15:
We will NOT have coins available for sale tomorrow (11/15) and are not accepting POs.   We dipped into our reserves some to cover PO today and to avoid being caught in a net short scenario it is prudent for us to rebuild our reserves.
Just out of curiosity, did raising your buy price significantly affect your incoming volume?

I can't be disappointed about btc buying volume being so high, even though you getting wiped out makes it harder to buy. We are living in exciting times!

It did.  We saw a healthy bump in our incoming volume but the demand for BD is kinda hard to believe.  It grew from roughly 5K BTC per week to ~10K BTC per week over the course of ~3 months.  Growth was pretty steady and consistent.  Then roughly two weeks ago we saw demand nearly double ... and then it increased about 50% after we relaunched and then this week is up (if you could fill all orders) about double that.  So more like 50K demand. 

Any growth in FC4B looks like pissing on a forrest fire.  Honestly it is hard for me to explain where the demand is coming from but we simply can't handle it.  Not even close.  I hate to turn sales away but even if FC4B doubled we should still be "short".
7759  Bitcoin / Bitcoin Technical Support / Re: Cancel Invalid Raw Transaction on: November 15, 2012, 01:14:45 AM
Not easily.  You can use tool like pywallet to delete the "bad" tx.  If you are going to "play" around with raw tx I would recommend backing up your wallet frequently.   If you have a recent backup you can simply restore from a backup prior to when you added the defective tx to the memory pool.  WARNING: irrecoverable loss of funds could occur if you backup is old enough to not include all keys in your current keypool. Backup your current "broken" wallet before EITHER using pywallet tool or restoring from a previous backup.

To answer your next questions (I already know what it is Wink ...  Yes
"Shouldn't there be an easier way to cancel tx which haven't been included in a block?  At least for power users from the command-line?"
7760  Economy / Speculation / Re: How long before the price tanks sharply because Silk Road is down? on: November 14, 2012, 11:05:35 PM
I'm long.

Tangible Cryptology can't seem to keep coin in stock.  You could probably do the math based on his thread updates.  If I had to guess he's easily moving up to 10K BTC/week by now.

Other signals here on the boards and IRC that indicate a lot of large private buying is going on.



A little bit more than that but 10K is conservative. Wink
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