Difficulty for next block is already low again, but the multipools might not take retarget time into consideration.
I don't think 1604 is low enough to help. Needs to be about 1000 to atttract the multi-pools because the price has fallen too much. So, another 8 slow blocks, unfortunately. |
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the "icelander should cpu-mine idea" is a drop in the bucket, I think. not enough hashing power.
paying for scrypt hashing power could work (either outright or using bounties for pools to find blocks < 5400).
The problem is: we're driving away the icelandic noobs who must think this coin is broken (which it is... confirmation times in the range of days can be called "broken", like banking system) or this crypto-stuff just doesn't work.. must be a fad.
Giving a bounty for pools founding blocks will just spark another ddos war, not a great idea You are right. We would have to pay bounty only for blocks 5382, 5383, 5392, 5393, 5394, 5395, 5396, 5397, 5398 and 5399, not the ones that will have low difficulty. They will mine 5384 through 5393 in no time anyways. Would that work? A major mining pool will focus their hashing power on these blocks if they are fully compensated, and their customers get normal payouts. AUR is currently only about 40% as profitable as the best alt coin, so it would take about 0.5 BTC per block to get these blocks mined. This is a crucial time for AUR so it would seem to be a good idea. Balduro, please PM me if you want to communicate to the pool owner directly. |
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really? Holding longer means a higher tax rate? Normally it is the other way around. In Germany Bitcoin is a currency and you pay 25% as a capital gain in the first year and after one year you pay nothing (like with every currency. Under one year is considered as speculation, trading).
..
Longer has lower tax rate. I corrected that but you grabbed the quote before I saved the edit. :-( |
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(I am assuming that 5400 also brings in the LTC time warp fix).
KGW time warp fix you mean? Litecoin doesn't use KGW. Yes, true. |
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Are there any scrypt pools which can be asked to concentrate on mining the 21 blocks to get it to 5400? (I am assuming that 5400 also brings in the LTC time warp fix). |
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Won't this affect Bitcoin's fungibility ?
One Bitcoin won't be the same as another Bitcoin.. since there will be tax to pay on the capital gain.
If you bought a BTC at $10 and another at $100, and now you wanted to spend one to buy a $100 shirt, when the price is 100$/btc.
The 2 bitcoins have different value now..
Is that what they are saying ?
No. It's an accounting problem. If you bought 1 BTC at $10 and another at $100 and the bitcoin price is $100 when you buy a $200 shirt with 2 BTC then you have a capital gain of $90 which is now realized. If that $10 BTC was kept for less than a year before the shirt was bought the $90 profit would be taxed at an income tax rate, perhaps 40%, otherwise it would be more like 20%. Reminds me of this:  |
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OMFG, China FUD all over again. When will this shit ever stop?!?
It's so ridiculous, really. The only good thing about it is that I can buy cheap coins everytime.
When China's central bank come out and give definitive advice on the legality. From what I hear, that is not how China works. They like a grey legal system so that no one can be completely sure where they stand. Means that anyone can be swept off the streets at the whim of the CCP. |
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Bitcoin is super-efficient. It is fiat which is inefficient and makes the various exchanges different (leaving aside exchange fee structures).
The BTC/LTC variances are much smaller.
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TLDR; A large percentage of a significantly large group of bitcoin users would sell in a short timeframe.
So these users immediately knew the news was fake fud and didn't sell? |
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New post on Gox:
"..consulted with the metropolitan police department with regard to the disappearance of bitcoins..."
What a complete and total pantomime. Pink Panther coming up? |
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last difficulty adjustment was from 1691.849 to 2406.9
That's more than 25%. Someone said the change was capped at 25%.
Can someone explain?
Another puzzle is that blocks generated with the same hashing power should only take twice as long for difficulty 2000 as it would for 1000. Yet blocks, when difficulty is 2000, seem to take about 10x longer to get created. So most of the hashing power must automatically desert the coin at >2000. Price/difficulty must be the factor for this. Also, I wonder whether a default mempool size is too small for a large number of unconfirmed transactions, hence the "not synced' message on the client which appears during slow block periods...? Hopefully all this improves in 21 blocks from now. |
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Baldur has done a fantastic job.
Now the local ecosystem needs developing, like an AURpay version of BitPay!
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I know - beating a dead horse, but every time I have to pay, I ask myself why I tell people its free.
OK OK. It's nearly free. Almost free. Do you think any credit card or debit card or paypal payment costs less in the long run? No, because you are hit with all kinds of bank charges for having an account or a card, and the merchant is hit with fees which are always passed on to consumers and hidden in the product price. 5c per payment is dirt cheap and Bitcoin could cleanup if it remained in that range long-term. |
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it can hold enough gold, but if i tried to load it will all the silver im going to buy if we get to near $12 it would be crushed!
This chart from Jesse's Crossroads Cafe looks to me like a screaming buy. Jesse draws dozens of lines but the line missing is the big downtrend from the peak. Like Bitcoin at the moment it rests on support and the selling appears exhausted.  |
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Was the retest of <$600 a turning point?
Buyers keep the price ticking back up and the BTC markets all look like they want to break the 2014 downtrend soon.
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Looks like a spike down to $575 imminent. China's slice of the total volume increased slightly from 88% to 89%.
Their zero fee exchanges can churn thousands more btc than normal fee charging exchanges. As you are a mathematician you will know that repetitive 0.2% slices will quickly whittle down any large amount being churned with a small probability of an edge. |
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What these Saudis would have done for a living.. if they didn't had any oil?
Traded camel dung for blankets. |
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This is actually the worst order book (ratio) I have ever seen in Bitcoin. All of the gox orderbooks in apr-jul 2013 even at their worst looked better than this.
The problem is, in hindsight, how legitimate were those order books. True, the gox orderbooks were probably 70-90% fake fiat and fake coins. |
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Highly unlikely they will create a new crypto, I think they will just use gold.
An economy can't just use gold as it is too limited for daily use. This was why paper money was invented, hundreds of years ago. Now, Russia could create a gold-backed ruble, and this would be good, but the problem is that the central bank can't be trusted to limit the ruble circulation to the amount of gold it has in vaults. Also, it would eventually be forced to print, because of fractional reserve banking. So the choice is really fiat all over again, or crypto. |
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