How are their fake Lindens?  That seems impossible with a digital centralized currency.

From the addresses themselves... no.

The private keys are simply random numbers.  Every address has a different private key and there is no method of correlated addresses.

You can look at transactions to determine if they are from the same wallet.

If there is a tx which has Address A & B as inputs then you know that A & B exist in the same wallet.  Also if there is a tx which has A & C as inputs and another tx which has B & C as inputs then all 3 are from the same wallet.

I have to agree this is a horrible limit.  I have only hit it a couple times but when it happens it is often the worst possible time.

Can the limit can either be:
a) averaged over larger period of time.  i.e 10 per hour = 240 per day for a bot but a limit of say 50 per day is less likely to be a problem for a human.

b) raised for senior members (or maybe for donators).

c) while I hate this idea I would happily pay a micro tx over not being able to send the message at all.  This is bitcointalk maybe long term there should be some ideas on integrating bitcoin into the forum.

Had two trades with steamgames.  Both were quick and easy.  Will trade again (if I ever get time to play some games).


It is poor form to trade in other persons sales thread.

evoorhees nailed it.   There are only 2 mil coins which have never moved and arguably at least some of them are lost.   The remaining coins are held by multiple people.  Even if they are all spent recklessly at most we are talking about 20 or so 100K BTC plunges.   While bad it is hardly fatal.  As time goes on it becomes less of a danger.  The market depth for BTC is continually increasing. An x BTC reckless sale today will have less price movement than a year ago and hopefully in 1 year, 5 year, 10 years it will be increasingly less.

If not today then probably tomorrow we are waiting on some wires to clear.  At this point we don't want to accept orders we can't pay.  That is a slippery slope.  We are working with a new partner which should hopefully improve our cashflow and make these "red days" less common.

Yes.  1 confirm is significantly higher "security" than 0 confirm.  That would be the area LTC has an advantage.  Honestly 5 min vs 10 minutes isn't much of a difference to warrant a seperate blockchain. 

If it was 30 seconds vs 10 minutes and had some innovation like having a second "super difficulty" which was 10,080x higher that the nornal block difficulty would create a ledger block you might have something very useful for smaller & realtime transactions.   Once say 8 ledger blocks were created (roughly 2 months) you could drop the prior blockchain and work from the ledger block which was 8 blocks deep.

I am not saying LTC should be modified to do this I am just saying that a niche exists but LTC doesn't fit into that niche much better than BTC.

Yes.  However two things are needed.  A larger money supply AND sufficient market depth (doesn't matter where it will all arbitrage).  For Bitcoin, the larger money supply requires higher exchange rates (not just pump and dump but sustainable higher exchange rates due to real demand).   The deeper market depth will come with higher prices, larger players, more economic activity, and more mature exchanges/platforms.

The USD:EUR exchange rate has low volatility not just because both economies are large but also because the Forex market has massive depth.  It takes hundreds of millions in trades to move the market in any meaningful way.

Which country is that?

I think he was just using that block as an example.  

Fees run about 20 BTC per day (looking @ 7 day average) compared to about 5 BTC per day at the begining of the year.  There is really nothing that can be done to maximize that other than no rejecting paying txs.

That works out to only ~0.14 BTC per block or ~0.3%.  The larger point is that fees will continue to grow as a % of miner's revenue and miner's should be aware what is happening to that revenue.   0.3% may not seem like a lot but lets fast forward to January.  Hypothetically the block reward is now 25 BTC, the avg fee per tx has doubled, and the tx volume has tripled.  That puts fees in the 3% to 3.5% range.  As time increases the issue becomes more relevant. 

Congrats on BitMinter being the largest pool that charges no fee AND pays out all fees collected.  The true "no fee" option.

1) Mandatory Fee:  If your tx is low priority (based on size and age) the client will require you to pay a fee.  If you override this then any node or miner which follows the same rules will drop your transaction and it will never confirm (or remain "lost" for days or weeks).  This is done as a DOS prevention mechanism.

2) Optional Fees:  They do make your transaction confirm faster.  Blocks are getting very large and to avoid higher orphan rates many pools are limiting the number of tx they take (especially free tx).  Have you ever seen 1,2,3 blocks go by and your tx sits at 0-confirms?  That is pools ignoring your tx in favor of ones with fees.  A small fee (i.e. less than a penny) can go a long way in ensuring your tx have priority.

This. 

I would also point out that <50% of all coins have been issued so the US long term "share" of Bitcoins is still unknown and unlikely to be 40%.   

Money (to include Bitcoin or even money like commodities such as gold) has no direct value.  It is merely an accounting system.  You can't eat a Bitcoin, you can't be entertained by it, you can't protect your other property with it (no different than gold or dollars).   Even if US residents owned 40% of Bitcoins as they exchanged those for goods and services the "Bitcoin flows" would be very similar to other monetary flows and international trade.  If the whole world adopted (not necessarily replacing fiat currencies but not putting any prohibitions in place) bitcoin in time the US "share" of Bitcoin will be the same as the US "share" of global wealth.

Hardly.  The issue with PayPal isn't JUST PayPal it is also that they allow funding by reversible means.   If the payment which funded the account gets reversed PayPal will also reverse the payment to the seller.

So even if a scammer (to include so called "friendly fraud") loses the PayPal dispute they can chargeback the transaction with their credit card company.  Those companies gets hundreds of thousands of chargeback requests every DAY (yes every DAY).  They give a request all of about 15 seconds.  Unless it looks very suspicious or their computers find some "weird" patterns they rubber stamp it.

So

TL/DR version:
You deliver
Customer disputes with PayPal
You win dispute (very unlikely)
Customer wins chargeback using credit card issuer
PayPal loses funds
You lose fund

It still does.  Exchanges are imperfect pricing engines.  All that matters is total aggregate supply and total aggregate demand.  If your friend couldn't sell it offline then you "may" (and over 1,000s of "hoarders" some % will) instead sell them on the market.  Just as you taking the buy off the market removes buy side information it also removes an equal amount of sell side information.  

That isn't to say OTC doesn't have advantages.  We use it every day.   We probably are the largest non-exchange buyer and seller (at least one that is open to the public).

The main advantages are:
a) flexibility - we can structure deals which would be difficult or impossible on an exchange
b) limited trust - our clients only need to trust us for one trade.  the amount of funds that are at risk for hacking/theft/seizure are much lower
c) speed - we can complete a deal (supply depending) the same day

However all demand and all supply affects the price; even demand and supply not on the market.

While true your statement has no value.

While any sale (even a penny) will affect the market what matters is how much it affects the market.

Buying $200K via a single market order on a single exchange executed over the course of seconds will have a much larger effect on price than say buying $5K to $10K at a time OTC over the course of a month.

Yes OTC does make a difference.  While all demand adds to price OTC trades are "hidden" from speculators.  They don't have the trade history and momentum to capitalize on.  If you try to buy $200K on the market you wouldn't be adding $200K in demand you will be adding $200K plus whatever $xK speculators pile in trying to catch "the rocket".

You don't really realize how unbelievably slow the fiat banking world is until you try to run a business which combines Bitcoin (nearly instantaneous transactions) with "old world" banking (hardly instantaneous transactions). 

On Thursday when the price spiked we did awesome business.  The bad news is we were buying coins far faster than we can get funds back into those funding accounts.  The flip side of that day is this day.  Trust me I hate seeing the "red" as much as you guys do.   When I see all that red I see lost sales.

This.

Possible but improbable.  In cryptography we can only deal with probabilities.  It is possible you could solve a block in 1 hash.  It is also possible you could solve every single block for the day with a single GPU.  In the same respect you could generate an address and it just happen to be an existing address worth millions.

Of course all of these are incredible improbable.  So improbable we say they are infeasible meaning that while it could happen you can no realistic chance of making it happen.

Kinda like getting hit by an asteroid improbable, winning the lottery improbable, getting eaten by a shark improbable ... at the same time.

Why do people do this?  Some things are better left unsaid.  If you got coins from selling a mountain of weed it is better to not say it.   If you need to unload some coins cheap because you stole them it is better to not say it.  If you are sending coins to the Silk Road it is better to not say it. Most certainly if you are planning of evading taxes it is better to not say it.

Why?  Why do people do this?  What possible good could come from divulging the reason for your transaction?  Does nobody care about financial privacy?

Someone who can drop $200K on a speculative investment is not likely hurting for cash to "pay some bills".

Indeed maybe not the best example but just pointing out that it is like PayPal only cares about limiting fraud or the risk of digital goods.  Maybe the OP and the pool (man for the life of me can't remember which one) are better examples.  Very low and no fraud and still shutdown without reason or recourse.  The OP was even told he was authorized.  He was "authorized" AND kept his fraud to a minimum something which PayPal should have rewarded and instead he got slammed.

Dysfunctional.