great idea.
pool allocates a new address to each participant, and participant uses that address in the coinbase (so not possible to 'steal' coins).

The benefits i see:

1. there's no more getwork network overhead for the pool (therefore fewer resources needed to run a pool). all we send are completed diff1 (or greater) shares that the pool needs to verify.

2. no more pools being able to decide what transactions to include or not (see eligius and its policy of charging fees for all tx), or to try to create blockchain forks for double spending if they get too powerful (this hasn't happened yet, but it /could/, theoretically.)

The only thing needed is to write some code for sending the shares to the pool.

As i see it, this scheme does not introduce any downsides.  miners cannot 'steal' blocks, if they withhold a good block, they don't get the coins, since the coinbase address used is one belonging to pool owner.

+1 gavin
-1 unk
-1 on using the word 'paypal' in bitcoin marketing.

hope you cleared it through a friendly lawyer - this talk about price appreciation etc, may deserve some kind of disclaimer about 'past performance not guaranteeing future results' and about your ad not being investment advice and things like that.

looks fine, and forum's quite fast, too. ++

1. they claim they make their money from ads on the site, last i looked.

2. you don't, other than trusting their word for it.

nb: i don't use mybitcoin, and wouldn't really want to put any significant amount of bitcoin on any third-party site.

'ideal difficulty' is 'as high as possible'

the basic idea is, the higher the difficulty, the higher the value of a bitcoin, therefore the lower the min fee has to be to discourage dust spam. that's all. we don't really need to know about 'ideal difficulty' and things like that. e.g., just say, starting from now, for every X% difficulty increase, minimum tx fee will go down by X% (or some such).

no, just indexing the dust-spam threshold to bitcoin value. just as is being done manually with the change from .01 to .0005 in this here RFC.

the fees based on TX volume remain as they are. the anti-dustspam fees are really quite a separate beast from the regular 'transaction volume fees'.

it seems you have completely misunderstood the proposal. higher difficulty would result in /lower/ minimum fees, not higher ones. just as now we're going from .01 to .0005. I quote, with some extra emphasis added:


yes - but the talk here is not about that at all, but about the 'minimum fee' required when using transactions with small inputs, to prevent dust spam.

random off-the-wall idea: how about making the minimum tx fee track the difficulty changes?

since difficulty itself is a function of price, albeit with quite a bit of hysteresis, setting min tx fee changes to track difficulty changes via some kind of monotonic inverse-relationship function would automagically set tx fees to reflect bitcoin value, in a one-step-removed kind of way.

(again, just as a stopgap, until better code to 'free the tx fee market' is in place)

xkcd's black hole address:
http://blockexplorer.com/address/1Lg2rvxbBPC8jp2YJoV5xL7sdyTjueMUot

poll: http://bitcointalk.org/index.php?topic=8342.0

OK, quick poll to see what people think.

I can trivially set gribble to respond in PM for all commands in #bitcoin-otc.

So asking whether I should do that.

I deliberately don't have a third option like "yes, but not for command X and Y", because doing that would not be trivial. (well, would require some coding).

The way I figure it, if someone wants to make some particular response from gribble public, like the latest mtgox quote, he can take the effort and paste it on channel.

Your votes (and your comments in the thread) appreciated.

i can fairly trivially change gribble to respond to all messages sent in -otc via PM.

yay or nay?

i run #bitcoin-otc
we have created a #bitcoin-otc-ru channel, brought the bot in.

now you have nice place for p2p trading.

would have been fine to do it on the main bitcoin-otc channel, but i figured all the russian talk would probably annoy the current userbase.

you're all welcome to it.

currently working on documentation translation for the wiki.

maybe you're sending to wrong email address?
if you still have no reply, talk to magicaltux on IRC.

LanceRushing:

hehe good work!

now, to see if someone will rap this because i am not sure the synth-voice does the verse justice

heh, guy posts a betting pool on the sex of his baby... he's gotta expect some related queries.

please post picture of the pregnant belly, front and side views, not obstructed by loose-fitting clothing.

a bitcoin miner's lament

all day long i generate,
my room's so hot, there's no debate -
if it continues at this rate
i will be baked like a sweet potat-

o, how hard it is to make a block!
everyone wants one, there's limited stock.
difficulty rising, gotta fast get a lock
on that precious fifty-bitcoin block!

GPU is crunching but average time
has grown so fast my hash rate's hardly worth a dime
room is toasty, like a tropical clime
but i persist - a fresh block is sublime

i'm gonna have to take a dip, a dip in the pool
a mining pool, the greatest tool
a small miner's friend, for only a fool
would keep solo mining as if it's cool

when difficulty's up so high, sky high,
what's a fellow gonna do but wait to die
of old age while you hash, hoping for a tie
with a hash target so low you want to cry

so i mine in a pool, getting bitpennies a day
hundreds of miners joining that fray
building that block like a brick out of clay
it's the only game a small miner can play

but pennies ain't enough, i want more
i drop by mtgox to see what it's got in store.
i see that price and sweat out of every pore
it's shot up to the moon, way up from before

and i patiently sit, and wait for a dip
refreshing mtgox, with every sip
of my cup of tea, but at this clip
i'm only missing out, and i lose my grip

i plunk down some fiat, a few grand
no time for limit orders, i grab all the outstand-
ing asks, and behold here i stand
thousands of bitcoins in my hand!

now i live in trepidation
waiting for bitcoin appreciation
it has thus far been a total sensation
part of me wants to dump, but i'm patient

now i start to develop some cunning
i decide to start a business and get it humming,
helping get that bitcoin economy running!
i now realize it's never been about the mining

a newbie comes by on IRC
"i clicked generate coins, and nothing - see?"
i share my wisdom through my PC
which now is deep as is the sea.

=======

i envision a great hit song from these lyrics

If you like - feel free to throw some coin at 1CrmbXC3HBZszFhDDLJMCsTkaWG2EJo6gD

hey, i want to know about the hidden wiki too!