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There was a Bitcoin group on Facebook that I no longer see in my list of groups, and no longer see any status updates from.
When I search for Bitcoin, I see about 50 organizations, users and pages but all have too few members to be the group I remember seeing before.
One of the most active participants was "Satoshi Nakamoto" (yes, likely it was not the real Satoshi) -- and when I search for that Facebook user I see no less than 20 other Satoshi Nakamotos but not the one with the avatar I remember seeing before.
Did Facebook take down the Bitcoin group and freeze some user accounts?
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Site now is offline. Is this temporary?
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I was just wondering how many different countries have people trading bitcoins.
Many of the exchange sites are from several countries in Europe, and many Americans are in it. I've traded with somebody from Brazil, I've heard of a group from China...
Who else is out there?
Because mining is possible globally, even if it just a few bit-cents I would wager that nearly every country has had at least one miner end up with some bitcoins (or fractions of) and then trade the results on an exchange. A good overview of the different currencies accepted by the different exchanges is here: - http://en.bitcoin.it/wiki/Buying_bitcoinsMore here: - http://www.bitcoinmoney.com/post/7757843969And Mt. Gox, Ruxum, TradeHill, and Bitcoin7 have together a list of about a dozen countries and currencies on the "coming soon" list and includes Hong Kong (HKD), Japan (JPY), Malaysia (MYR), New Zealand (NZD), South Africa (ZAR), and Switzerland (CHF), among others. |
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funny, i see only one credit union signed up so far FiSync is pretty new and the fact that one institution has gone live, publicly, already came as a shock. Banks aren't known for being very agile. The trial includes 15 institutions, I don't know how many of those 15 already support transactions but expect to hear more about FiSync soon. |
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According to their merged mining proposal I linked to in post #1 above, it IS backed by bitcoin (backed by bitcoin mining, specifically). I think their latest client actually implements the change. I don't believe you are using the term "backing" properly: Today many private currencies are backed by a commodity to increase asset security and nullify inflation, which can be caused by an issuer increasing money supply. - http://en.wikipedia.org/wiki/Private_currency#Currency_backingThough there are exchanges where I can convert namecoins to bitcoins and vice-versa, the values for both are free-floating. There is no "backing" as far as ensuring that my 1 namecoin can be redeemed for a specific number of bitcoins. As far as the upcoming change for Namecoin mining -- yes, those running the bitcoin+namecoin mining will mine for both currencies simultaneously. Both gold and silver can come from the same hole in the ground, but that doesn't mean gold is backed by silver, or vice-versa. |
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Well we're entering the weekend and the Gox price hasn't altered much over the last 24 hours, or even the last couple of days. So who's guess is it? This is another week where conditions for the "weekend dip" are in place. The weekend dip happens when the high for the week (as-of Wednesday evening / Thursday morning) is lower than the previous week's high. When that happens, it has been, more often than not, profitable to sell at that time, and then buy back on Sunday once the price appears to start rising. The weekend dip usually returns between five and twenty percent profit. Now this rule doesn't state the optimum time to buy or sell. For instance, The price could rise after Thursday evening, causing the sell from Thursday morning to be premature. Or perhaps the low was on Friday and waiting until Sunday will mean it is too late to re-enter with a profit. And there are exceptions -- for example, because of holiday, the soonest Mt. Gox will be able to accept EU deposits is on Tuesday so the price rise might come not on Sunday but on Monday. However, week after week a pattern occurs. One reason this could be is because selling is possible 24x7, yet bank transfers don't clear on the weekend, thus there is selling pressure. At some point, enough speculators will trade, expecting this cycle, and it will level out. Last weekend there was just about 5% profit. Or there may be no recovery, ... the dip just keeps dropping. Or, we have a weekend like Easter weekend in April which caught many traders flush with cash and no bitcoins anywhere near the price they sold them for a couple days earlier. |
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3) Can someone PLEASE make the client dialog display a meaningful calculated message instead of the very vague 'something is wrong, you need to put SOME for of transaction but we're not gonna tell you how much or what the actual problem is' message. That thing is like a Microsoft error message, absolutely NO help. No accurate fee calculation and a list of 3 vague reasons... There are several things you can do. The fee is tiny assuming you are using a current client (currently v0.3.24-beta). IF even that tiny fee is too much, switch to a really old client and take your chances as to how long your transaction will take. Version 0.3.20 didn't impose any fee. - http://sourceforge.net/projects/bitcoin/files/Bitcoin/Assuming those transaction are coming from a pool, you might be able to increase the payout threshold so that you don't have such tiny, spam-like payments, going forward. Because every transaction ends up in everyone's blockchain, those transactions have a cost in terms of network bandwidth, storage space. Fees are just a cost of doing business with any payment network and Bitcoin's fees are low, if not the lowest. |
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You might wish to change the name of the title of this post as it is confusing. Namecoin is not backed by bitcoin.
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Doesn't bitcoin need any change? No, there is no change to Bitcoin. After this is implemented Namecoin becomes dependent on Bitcoin but not the reverse. Specifically, read the part about the Merkle tree and: The coinbase TX is a regular BitCoin coinbase (that makes new coins and claims fees), except the scriptSig on its input contains an extra entry that todays scriptSigs don't. That extra entry is a hash of the NameBlock structure. - http://forum.bitcoin.org/index.php?topic=7219.msg105915#msg105915 |
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I would post this in the developer board, but I am stuck here. I would like to know the technique that the official bitcoin client uses to handle NAT traversal and bootstrapping of peers. The client works without inbound connections, though performance is higher when an incoming port is opened or by enabling UPnP. UPnP may, or may not be enabled as a default, depending on which version of the GUI software you are using. When the client does not yet know of any peers (e.g., during the very first time start up) or it cannot contact the peers it does know about the client will then bootstrap to find peers using IRC (or, if the client uses -dnsseed, a DNS lookup). - http://en.bitcoin.it/wiki/Network#Bootstrapping |
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don't spread the silly notion that it requires backing - and that the backing comes from "energy consumption" or "cryptography" or other such nonsense. Excellent post. Though I'm going to question your meaning with that cryptography statement. I trust Bitcoin because I trust the cryptography it uses, and the potential for a remedy should our trust in the current implementation be put in doubt, for example, as Gavin describes here: http://blog.ezyang.com/2011/06/the-cryptography-of-bitcoin/#comment-2590Because data can have multiple copies, Bitcoin is not exactly like a scarce commodity. Only through cryptography does Bitcoin emulate one. |
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The coin act of 1965 says something like this
Section 102 states: “All coins and currencies of the United States (including Federal Reserve notes and circulating notes of Federal Reserve banks and national banking associations), regardless of when coined or issued, shall be legal tender for all debts, public and private, public charges, taxes, duties, and dues.” What "legal tender" means is that if I owe you money, you cannot refuse my currency that has been defined as legal tender (U.S. dollars, in this instance) as payment for that debt. It cannot be construed to mean that only U.S. dollars can be used as money. If both parties agree, bananas could be used to make a purchase or to settle a debt. - http://en.wikipedia.org/wiki/Legal_tender |
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If one person had enough money and one to a few variances of bots to become completely embedded in Mt Gox so that anything being sold and bought was being bought and sold through them.
For instance anytime someone went to sell, it would be buying, at the price it set, anytime you buy you are still buying at it's set price. Then when it needs to balance itself we see large jumps and drops.
There really is no way around it is there?
Since most market participants trade to maximize profit, what would be the motivation to fight supply and demand? Fortunately other markets are growing is trade volume and starting to lessen our dependence on there being just one exchange or where price is primarily determined by a single exchange. |
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but you do have to go through an exchange before you spend it. Do you have a source for this claim, by chance? |
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$6.8 million from Dwolla or from everywhere? removing the stuff in parenthesis: We got in June a total of $6,824,168.53 of funds moving around over Dwolla As far as how much was for incoming (deposits) versus outgoing (withdrawals) I don't know. |
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hi! im developing my own client, it will be highly configurable, and eazy to modify.
or would you use a transaction-trapper, so you gets notified when your used coins gets re-spend? like tracking you coins? There is the need for that -- something that connect to multiple nodes and listens for detecting double spends of coins received. Merchants accepting on 0/unconfirmed have this need. - http://forum.bitcoin.org/index.php?topic=27417.msg350531#msg350531 |
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