Your card doesn't support OpenCL and thus cannot mine. It is a 2001 card  |
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Sure, a blocksize limit is needed, we can't have blocks 10GB big, but the current limit of 1MB is definitely too low.
Anyway, i am checking the latest blocks, they are nowhere near the limit, why? most are 100/200kb big. But there are 19813kb of unconfirmed transactions.
Nobody really knows why Satoshi set things at 1MB. He didn't leave a comment. But an interesting thing happened on the IRC channel a few days ago. The high priests got to scratching their heads about things and noticed that 1MB just happens to put things right near the edge of what is practical to competitively mine off of Tor. That's how I read the conversation. Coincidence? Who can say... Probably that number was chosen considering the current technology level. As internet connections get faster, it can be happily increased. |
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The fail of the article?  |
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Sure, a blocksize limit is needed, we can't have blocks 10GB big, but the current limit of 1MB is definitely too low.
Anyway, i am checking the latest blocks, they are nowhere near the limit, why? most are 100/200kb big. But there are 19813kb of unconfirmed transactions.
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I don't think i need a license to run bitcoin-qt  Especially since then what about all other virtual currencies? Wow gold, EVE isk, and all other games, they too need a money transmitter license? Nah |
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i'm sorry but no. CPU mining is useless. As for GPU, well, you have nvidia cards wich are not good for mining. Sure, your system is powerful and good at gaming and other things but not for mining
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why do you say that about losing security?
Well Bitcoin-qt is the most trust-less system, you can have for bitcoins currently, in consumer wallets. The rest you have to trust servers and other people. Not true! With Multibit you have your wallet exactly like with bitcoin-qt. |
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Yup. The numbers of tries for a valid block to be created depend on the Difficulty. The tries for a collision depend on the bits of the hashing algorithm, 160, since for addresses RIPEMD-160 is used
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Interesting but it is not a problem.
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Also should be added how bitcoin cannot be stopped by governments. While paypal and dwolla can happily be closed and frozen, like liberty reserve.
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Currently mining hashrate is over 100THash/s This means that yes, for some people it is profitable. Hashrate keep increase |
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I noticed that there are TONS of sockpuppets. Everytime a new "altcoin" (yeah well more like "scamcoin") then suddenly tons of new users start speaking about it, of course all newbies/jr members. And this happens for every new altcoin. Or other scam.
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Even if you (or your pool) have a really high total hash rate, does not guarantee every block for you or that pool.
this is what i don't get. why is this true? Because finding blocks is like a lottery. Having more hashrate just means you have more tickets, but you can win even with 1 ticket. 1 hash=1ticket  |
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The result: As tips disappear, wages will (finally) have to pick up the financial slack that tipping once achieved. This is a US only thing, here in Europe you don't have to tip the server. In US there are even tickets with "write here the tip", here in Europe that would be absurd. Also half of the things listed there only apply to credit cards but does not apply to bitcoin. Commemorative or collectable coins become an increasingly confusing idea to a generation that has never actually used coins. These products vanish over time Really? We bitcoiners have a digital currency and despite that we have collectable casascius coins! |
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Most of the old bitcoins probably are lost. Back then they were worthless, people just mined some and then just uninstalled bitcoin and deleted the wallet.
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Just choose what is moar profitable.
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