To recap, this is my issue with Hearn: he makes a false claim (quoted above) to prop a false generalization of his. If that doesn't work, he just ignores the point. Intellectual dishonesty at its finest, and not quite the first time either. Any hard forks in that list of many changes you weasel you!And now sorry for the free advertising...
Fortunately we have Freicoin which doesn't suffers from this potential problem even if there's no block limit at all.
Freicoin has perpetual reward for miners financed through demurrage fees on holdings.
Before everybody starts complaining about savings and demanding mercy for their grandma's: freicoin is purposely designed to be a medium of exchange and NOT a store of value.
That's the beauty of a free monetary market: different monies can have different qualities and purposes.
Nothing to be sorry about (I had no idea it existed, for one) and good luck with it. I don't blame you for not slumming it up with us little people who watch the altchain discussion. Freicoin was big news about a month ago until people realized it was just the lewest, pumpingest, and dumpingest of the altcoins. A full 80% of the initially issued goings flowing into a hardcoded developer controlled foundation which would take a hard fork (not quite sure if it is irony) to remove. Apologies for the quality of the following linked thread https://bitcointalk.org/index.php?topic=134665.0Subsidizing mining by demurrage may or may not be a good idea in a future cryptocurrency (probably a bad idea), but bitcoin's momentum and prestige by having substantial value is why these discussions over single technical issues inspire a lot of passion. This same affinity for the majority of bitcoin's traits and features means that any fork or altchain Joe Idea that incorporates their entire wish list of changes isn't going to be adopted by many people beyond Joe Idea, because for a majority Joe Idea's "improvements" are going to seem like a step backwards, if they don't think the changes broke everything they liked about the system. |
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Whatever pool you aim this at is definitely going to notice it, but for the network at large it is a single Avalon Asic is still roughly one third of one hundredth of one percent of the bitcoin network's hashing power or a bit less.
Or in other words, on average, a solo mining Avalon ASIC should find a block once every 2 days, 4 hours at current difficulty. Which is awesome, but just a couple aren't going to spike the network into a steep incline as long as the avalon release continues to ship steadily, probably at least a few days before there is a noticeable impact Maths gurus: how slowly would 89GH have to switch in and out of the network for it to be visible above the hash-rate noise floor? I wanna see glitches on bitcoincharts or it didn't happen!  Whatever pool you aim this at is definitely going to notice it, but for the network at large it is a single Avalon Asic is still roughly one third of one hundredth of one percent of the bitcoin network's hashing power or a bit less. Your maths is incorrect by a couple orders of magnitude. I just roughly divided 25 trillion by 80 billion (I think it was a few hours ago). |
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Maths gurus: how slowly would 89GH have to switch in and out of the network for it to be visible above the hash-rate noise floor? I wanna see glitches on bitcoincharts or it didn't happen! Whatever pool you aim this at is definitely going to notice it, but for the network at large it is a single Avalon Asic is still roughly one third of one hundredth of one percent of the bitcoin network's hashing power or a bit less. |
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I just downloaded and did a test purchase, when i bought a 0.010 it didnt ask me for my bitcoin address? I think you did right by only allowing small purchases for credits, but i assume you may have a problem with chargebacks as the card i used is registered to a different billing address and itunes didn't complain. I wish you luck but i introduced a pay by card service which i had to scale back due to chargeback and carding.
I just saw your purchase today, Yes i do agree that chargebacks are going to be a major problem, but Apple is a champ when it comes to protecting the developer in sale of digital goods. This is just based on my experience. Also please note that we after you claim a prize of bitcoins we contact you for your bitcoin address. After watching this for a while and going to your website it seems that what you have going on here is much more complex and convoluted than I initially though, but this might actually be a great idea. What might help to pad your margins is making sure you have a full portfolio of digital good for recipients to redeem their brownie coins for. Stuff like e-cards and other virtual goods of which bitcoin just happens to be one would probably help your margins if your app takes off for its advertised target audience rather than just bitcoiners. You do have an adequate reserve of bitcoins in case brownie coins start to look like a bargain? |
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Thanks Atruk, for taking the time to reply and explain ur suggestion.
My pc is slow and I just want to get start right now and to my understanding
Block chain. info is quirky for a new user like myself and takes a little while to sync.
When u say I have control I like the sounds of that but I also don't know exactly what that means.
I'd perfer to start with something simple now and if need be transfer coins to Blockchain.info in the future.
I don't have a dog in the race as they say just taking baby steps until I feel comfortable jumping in the pool.
Then try MultiBit. It is a local application on your computer, but it will sync in one or two minutes. |
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Block chain .info
This. If you must use a web wallet it gives you the most control and it is widely used enough that it has earned a decent amount of trust. There's also people with real names to take the pitchforks to if it turns out to be a scam. If the problem is the main client sucking up too much of your data connection, Multibit and Electrum are nice light clients you can run on your own machine. Blockchain.info has a lot of nice advanced features you can use when you grow more comfortable though. And Mobile Apps!!! |
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For example, a piece of the NY Fed will bring in far more than a piece of the St Louis Fed.
I thought the St Louis Federal Reserve Bank has a history of more prudent action than the others. |
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SECRETS
So that is all well and good for the hashes but those are just hashes, not the actual secrets used. After a day has been over for at least 24 hours the system will release the secret used. Then you can verify that the hash of the secret matches the published hash in the hash file. This demonstrates that the system used the secret it promised it would use. A list of secrets for previous days can be found here: secret list
LUCKY NUMBER
The lucky number used to determine the winner of games is simple. It is simply the first bytes of hmac_sha512(secert,txid:out_idx). That would be the secret string as the key and the transaction ID of your bet transaction as the data.
You can see all of this on the full details page for your transaction.
Dear Bite l'Fin, You have a snippet of text that says "secret list" but there is no link in that text to display the secret list. I was hoping to see something like [url http://www.postsecret.com/]secret list[/url]. I'm sorry, but I'm just not very trusting of the French. |
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I think you're overestimating the significance of Terracoin.
This is what I'm thinking. Until many ASICs have found their ways into people's hands I don't see them being pointed at any altchains that aren't merged mined simply because the opportunity cost of having them not mine BTC. Now Freicoins... with the controversy and haters they generated I could imagine people might care enough to pop over there every now and then to shut it down. |
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Two Words: Merged Mining
You don't have to pick one when you can mine them all (except litecoin)
You can only merge mine on alts that have it enabled. You can't merge mine with TRC, FRC, LTC + more. You can, however, merge mine NMC. Well bitparking pool mines NMC, DVC, IXC, and of course BTC. Summary of these alt chains: Not Merge minable TRC - What made this special again FRC - 80% to foundation + Demurage = pumped dumped and forgotten in 3 months, miners already jumping ship LTC - Decent value for an alt, shame no one want to build decent apps for it Merged minable NMC - oldest altchain, blockchain intended as store of data (great for .onion and torrent magnet links forget .bit), cheap useful (disclosure I buy these occasionally) DVC - Worth so little they make you feel rich, a core group buys these on markets to support their value IXC - See TRC, probably never going to be worth anything BTC - What 98% of people try to exchange the others for |
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As you may heard,
I wanna switch to another crypto-currency. What´s the best looking forwardly in your opinion?
What´s your opinion on their development and which hardware do you recommend for which currency?
Looking forward to hear some elaborated opinions!
Please give a newbie some insight!
Any help appreciated!
THX!
Two Words: Merged Mining You don't have to pick one when you can mine them all (except litecoin) |
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There is one improvement I'd like to see to the way the site operates.
When BTC gets withdrawn and I pay the 0.01 fee to do so, could you pretty please put 1/10th or 1/20th of that towards the optional transaction fee when the transaction should already be high priority.
This has only been a problem for me a few times, but it always seems to pop up when I would like to use the coins I'm withdrawing right away. Then I see new block after new block pass by with the transaction still unconfirmed. It's painful because all of those Satoshi Dice transactions I see flying by on Blockchain.info are probably getting confirmed, because even though they don't meet the network requirements to be high priority they do include fees.
whats the high priority network requirements? Aged coins and size of inputs and outputs. A day old value of 1BTC or more is generally golden, the technical section of this page covers the formula for determining priority: https://en.bitcoin.it/wiki/Transaction_feesLately I've noticed though that less mining pools are taking these free transactions though, and it matters very little what the reference bitcoin client says when pools are strongly preferring transactions which include "optional" fees. |
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they've gone from bumping from "By end of next month at the latest" to "By end of next week at the latest".
I'm betting they use the "next week" line to transition into "next month".
Shoot, you saw through their plans! time to kill the thread http://garzikrants.blogspot.seNo, it isn't time to kill the thread. I'll admit I've made some Box of Fans Labs jokes, but now that Avalon has shipped I'm pulling for Butterfly to do so as well. The recent Butterfly updates where they start talking about numbers of wafers seem convincing to me that this is probably getting done (confidence interval of 75%). Why I'm pulling for them to ship though isn't the $0 I have preordered in ASIC equiptment. It is because of how fucking exciting the prospect of two massive jumps in technology over the course of roughly a month is. I don't know about how many other people, but jumping from general purpose GPU/FPGA hardware to coarse small batch ASIC hardware, to ASICs on a node size that Intel and AMD were shipping not that long ago is exciting. Avalon's second patch preorder is probably going to sell out fast, but if Butterfly get get units in people's hands by March 1st the mining harware market is going to become an interesting slugfest through at least this summer. |
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There is one improvement I'd like to see to the way the site operates.
When BTC gets withdrawn and I pay the 0.01 fee to do so, could you pretty please put 1/10th or 1/20th of that towards the optional transaction fee when the transaction should already be high priority.
This has only been a problem for me a few times, but it always seems to pop up when I would like to use the coins I'm withdrawing right away. Then I see new block after new block pass by with the transaction still unconfirmed. It's painful because all of those Satoshi Dice transactions I see flying by on Blockchain.info are probably getting confirmed, because even though they don't meet the network requirements to be high priority they do include fees.
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As previously mentioned, IIRC, retail gold shops with half a brain simply refuse to accept reversible payments. Cashier's check, wire transfer, cold cash, however...
The gold jewelry at retail stores is probably insufficient weight to require serious anti-fraud measures, if there are not armed security guards at the displays.
Most retail jewelry stores and high end retailers do have a lot of cameras for reasons other than the degenerate that tries to pull off a smash and grab. do you acknowledge that there is a problem, the problem being that people can't buy bitcoins using their credit cards or you don't see that as a problem at all.
It is problematic in the sense it introduces an inconvenience similar to not being able to pay the mortgage with your credit card. Getting outside of the house to use Moneygram at a retailer is inconvenient, but it is awfully safe for the seller. You might actually be very safe selling very small amounts of bitcoin this way, but there is a hell of a lot of risk. Even Zygna pushes their customers buying very large amounts of virtual goods towards using wire transfers for payment, and they have very little to lose from chargebacks. |
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As a public service announcement, attach fees to any transaction that might be remotely considered time sensitive. If you coins get stuck in what seems like a permanent state of limbo, it is a real pain in the ass to try to fix your wallet. What is also painful is when a transaction just sits out in the open waiting for its first confirmation and block after block goes by, especially when you are on the receiving end.
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._. Jeez. I've never felt so intimidated. But I haven't built a rig just to mine BTC. I made it to game. And I just do this when I'm not gaming. So since it's not worth it, I guess I'll just have to make BTC by selling things or some sort of currency exchange.  Those two other routes will probably make more bitcoins faster than mining, but it probably wouldn't hurt to keep mining on your gaming computer when it has downtime. Find a pool that lets you build up a balance in an account with them that you can transfer to your wallet when you cross a threshold like 0.01 BTC (which it seems like you could pass in three days) or let you collect your earnings monthly. It's a tiny amount, but it is passive income and you could get more MH/s out of your card (at least double and maybe triple) if you configured it in a more optimal way. If you can make between .25 and 0.5 bitcoins in a month as passive income, with equipment you already have why not. |
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The min tx fees are tiny and make up a negligible portion of miners revenue (not to be confused with optional fees on high priority txs).
If a sufficient number of nodes are running code which doesn't enforce the anti-spam rules it would allow an attacker to trivially cripple the Bitcoin network in both bandwidth usage and storage requirements for a token amount of money. So that is a "good thing" I guess. Also this fork allows noobs to create transactions which may takes days or weeks to be included in a block leading to all kinds of confusion and frustration. Worse when that happens the tx will seem to "Disapear" as it can't be seen by the receiver due to other nodes enforcing the rules.
I personally (as a merchant) have experienced the "fun" of this. A noob with little understanding of Bitcoin saw the "no fees" fork and figured it must be better. I mean those evil miners trying to force him to pay a fraction of a penny only on massive bloated spammy transactions. Can't have that right? He created an order with us and our site gave him a payment address. He sent coins but of course with no fee nodes between him and us dropped the transaction so our processing node couldn't even see the tx. Anyways long story short the customer is freaking out, thinking we are scamming him. He can "see" he sent the coins but we can't see the coins being sent, it isn't getting include in any block. Try explaining that concept to a noob. Before the tx is included in a block 16 hours later, the order expires and the price drops massively so when the funds do finally clear we can't honor the price and refund the order. Of course the uninformed noob thinks this is our fault and we are trying to scam him because the price dropped but we can't honor coins we don't have access to.
So yeah... this is a wonderful fork which will greatly help increase adoption of Bitcoin.
Lately I've been having issues getting high priority transactions sent to me confirmed when there's no optional fees paid. It's a pain in the ass when I'm waiting for these coins that I would very much like to bundle with some of my own, slap a fee on, and make a purchase in anything resembling a timely manner. Ever since the block halving, which is part of a planned process to gradually move from a subsidy to fee supported mining paradigm, omitting or underpaying fees seems to become increasingly less feasible for any transaction that is the slightest bit time sensitive. As gmaxwell pointed out many times, the people who stand to suffer the most hurt from a no fee client are the people who are new, playing with the idea of bitcoin, and don't have coins of sufficient size or age to be useful if they are sent without fees. The double spending mitigation done by Satoshidice, even just the parts they talk about, is going to make no fee transactions even more futile in the long run as merchants dealing in low value transaction start to adopt similar measure to mitigate the risk of double spends while still accepting healthy looking (attractive fee containing) transactions. |
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AI, I think you are right. And its clear by your nick how important the idea of simplicity is to you. Personally, and sorry if this pisses off the core devs, I think you should go ahead with a dirt simple document stamper right in the client. But maybe double the tx fee, and pick a well-known amount of bitdust to transfer (it will be a hint to clients to not cache this unspent output).
Sure, some time in the future blockchain bloat, unspent Tx, and transaction volume will start to become an issue. And guess what? Either we will increase the scalability of bitcoin or transaction fees will rise! But it won't be so bad if scalability is not solved. People will simply have to compete to get their txns into the blockchain. So bitcoin will be used for the big transactions and different alt-coin chains for pocket change txns. At that point a more complex solution (or just a "stampcoin" fork) will make sense. Moving this out of bitcoin (and Satoshi Dice, et. al. shifting to lite-coin :-) ) will free up capacity for other transactions.
tl;dr; Use bitcoin now to encourage scalability and shift to an alt-chain when the bitcoin TX fees grow too large.
It is entirely possible to make a fork of the Qt client that includes this feature which works on the bitcoin blockchain through means other than begging the core developers. Figure out how much this is really worth to you and then either code it yourself or commission someone else to do so. If you can develop or sponsor the creation of said document stamper in a bitcoin client that works as well and as simply as you describe, people might be more supportive of this in the mainline client. I really like deterministic wallets. Enough people like the idea of deterministic wallets do much that they are working their way gradually into every major client. Deterministic wallets started with a single client's implementation though. Things like deterministic wallets and multisignature transactions that advance the protocol seem to strike me as more "core" than developing add ons that simply happen to use the protocol. SatoshiDice is popular and making dice game websites is popular, but I don't seem much clamoring for a menu option in the reference client that lets it auto-configure its operation to work as the back end of a dice gaming site. registering a namecoin name with your hash as value is a peace of cake....
This. Because it has been merge mined forever, there is also a decent amount of hash power securing it. If your simple time stamping feature has this tremendous amount of value, building it into a namecoin client would let you have a safe place to play with it while potentially boosting the value of coins on that blockchain. |
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