Is there a lot of demand for timestamping? Are people willing to pay for it?
There are already free, centralized services that will timestamp arbitrary hashes for you. Besides the risk that they might go away (which you could mitigate by getting timstamps from several of them), is there any real advantage to using the blockchain?
If I can already get timestamps for free, why would I bother to pay a transaction fee to get a blockchain timestamp?
I'm often wrong, so feel free to ignore me, but blockchain timestamping seems to me like one of those gee-whiz ideas that appeals to us techies but isn't "enough better" than existing solutions to be interesting to non-techies.
I'm thinking this might be one of those applications that would be perfect for a merge mined altchain. If the desired feature is timestamping, it shouldn't matter that timecoins aren't worth anything. |
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Looks like it's shut down.. a new record?? Server not found Firefox can't find the server at www.bitelfin.com. Still seems to be online. |
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Wait, there are transactions fee with the bitcoin currency? Since when was this enacted?
EDIT: I made some research, and It seem like the policy of bitcoin was enacted when it was created, and the transaction fee are low but still must pay the minors. Still, I like bitcoin more than Paypal, because of fast transaction and very low fee (not 2.9%!)
The fee is part of what is supposed to allow mining to continue once the coin generation process has been exhausted. If it wasn't for some level of fees the network would probably collapse right around the time the last coin is minted. |
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The code for the Bitcoin-Qt wallet (and some other wallet systems) require a fee if the bitcoin input being used in the transaction is too small and new. This is done to prevent someone "spamming" the network by sending a large volume of very amounts of bitcoin back and forth among a number of addresses they own. The protocol itself doesn't require this fee, and some people (such as Satoshi Dice) create their own programs for pushing transactions to the network so they can avoid this fee. Many of the peers that you connect to may not forward your transaction to the rest of the network and some miners may refuse to include the transaction in any blocks they add to the blockchain without the fee. This can result in a very long wait for the transaction to finally receive a confirmation.
I've had otherwise high priority transactions with aged coins and sufficiently large outputs take several hours and many blocks to get their first confirmation. If the reason you are sending coins is at all time sensitive, you want to make sure you include an appropriately sized fee. The Qt-client uses a formula to try to ensure the fee paid is appropriate to the size of the transaction, but sometimes the big mining pools and the Qt-client disagree on what an appropriate transaction fee is. They especially tend to disagree when the fee is zero. Satoshi Dice includes fees on all of their transactions (even when they just send a single satoshi to let you know you lost). I don't know that it could work anywhere near as well if it did not include fees in outbound transactions. |
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It is clear you put in a lot of effort, but I'm not sure about the thought. Here is what will happen. People will buy brownie coins with stolen Apple accounts or with stolen credit cards. You'll send them Bitcoins. The real owners of the Apple accounts or credit cards will complain, and charge back their credit card. Apple will want you to cover that (or, just as bad, they'll be forced to take it in the shorts, and that makes all of us Bitcoiners look bad to the App Store review team). You've already sent the bitcoins, too late, so they're gone. You lose!
How can this be good? Do you honestly believe that nobody will try to buy brownie coins with stolen money? Because this never happening is the only way it could ever work.
This. People think Paypal chargebacks are bad, but Apple... |
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I would stay far away from bitcoinpyramid. It is, as the name suggests, a pyramid scheme. In the US at least, those are illegal, unless you're the government (*cough*social security*cough*). See http://en.wikipedia.org/wiki/Pyramid_scheme for more details. this LOL. The title alone man... I should start a site called bitcoinscam and I bet people would still sign up. They probably would. |
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it seems like I did not quite understand why it makes sense to deposit BTC on bitcoinpyramid.
It doesn't make sense to. By doing it you give your coins to the sorts of idiots that enabled people like Pirate, the people who think that high yield investment products are a great thing. There are some other questionable investments like mining bonds where in the best case you get a fixed amount of a rapidly depreciating asset. If you want to gamble, actually gamble. Try out BitBet.us, BitZino, SealswithClubs, or even SatoshiDice. BitBet.us is pretty new, but I like gambling on outside events more than I like games of chance. There's also a number of fuller bitcoin sports betting books you can find on the gambling forums. |
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i have 4600 blocks left and im getting 1 block every 35seconds... ive managed to get the wallet to connect to more then 8 clients now for the last 12hrs but its only downloaded maybe 1500 blocks
...
and nope not using any encryption on this drive could their be other factors causing this to be soo slow?
That actually sounds surprisingly normal now a days. The bitcoin traffic on your internet connection just might be getting throttled by your ISP. Satoshidice has made the blockchain rather large in recent months though. I don't use the QT client for my wallet anymore, but I do keep it running on one of my computers just to keep another good node running. A lot of people like Electrum. I'm a bit partial to the way MultiBit verifies transactions because it trusts a few different nodes rather than the one server, but they are both very fast and very light. You might want to download them both and try them out while you are waiting for access to your coins. |
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I just picked up a Dell server with dual 771 Xeons, and I put dual quad cores in there, it's crazy, the FB-DIMM memory is a bit expensive, I was able to buy 8x 1GB modules for $4 each, but if I could bring a server to the DC, I wouldn't hesitate to max the board out (8x 4GB = ~$300-400). A DDR3-based system would be pretty cool too. In that case, since I like to go absolutely nutters overkill with systems, I would put 64GB+ in there and even that would only cost a few hundies. I constantly look at boards that can take 768GB and I'm like, why not me? But, >2GB is all we need, and it's a good thing I picked up that extra gig from BitVPS. As a temporary fix, I'll probably get BitVPS to sell me even more memory, another gig is going to be pricey but if that's the bottleneck, let's dooo eeeet. But yeah, if they let me bring a server to the DC, I'd put SSDs and basically just take the specs way over the top. I want the site to be able to scale.
If you go the dedicated hardware route, upgrading to an SSD for the database is going to probably offer the most bang for your buck, much more than jumping past 8 GB of RAM. Random seek time might not be everything when it comes to database performance, but it is a lot of things. There are few better ways to solve software problems with hardware than running website databases off of SSDs. |
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Ok ok.
Thanks to john for the step by step. Honestly, I was still lost after I read it.
But then...
Artuk came with the explanation for simpletons (i.e. me) and now the step by step makes a bit more sense.
Anyway, thank you to you both. I sent .1 BTC to each of you.
Thanks again. I'm gonna try my hand at this.
Thank you. I'll add the caveat that I haven't taken the time to do OTC myself, but I use the same software to keep my email private that OTC uses for authentication and used some IRC before. |
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To avoid these server-related issues and still be lightweight, you can use an SPV client like Multibit. They don't have deterministic wallets AFAIK though, so you'd have to back it up frequently, preferably have it as a link to a file in an encrypted cloud storage like Wualla or the new Mega (does Mega create a folder on your system you can point symbolic links to? I've never tested it).
They don't have deterministic wallets yet. I just generated a bunch of extra addresses to save for later, then backed it up to an SD card. Deterministic wallets and private key encryption are supposed to be on schedule for this summer though. It share the BitcoinJ framework with the Android app which is something you might want to keep in mind should you want a mobile wallet. The initial sync and every other sync have been all under a minute for me. I wouldn't go around recommending Mega as a secure storage solution yet because it is so new, and it appears to be an LEX magnet so people are going to try to be snooping on it.. Also it appears to be horrible for backups since they haven't rolled out password recovery yet to my knowledge. |
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I feel kind of goofy because everyone on here refers to their "web of trust" rating on bitcoin-otc, yet I cannot even figure out how to use it.
I registered on there and I want to utilize it but I'm just freaking confused.
Is it just a chat room and open order book?
I read the wiki on it but I still dont get it. How to I contact buyers and sellers to set up transactions? I see no contact info there and that chat room sucks.
Someone explain please. I will donate 0.1 BTC to whomever helps me understand best.
It's an IRC chat channel. I know that makes it sound something like a chatroom, but it is more like a news discussion from the pre-September era of the internet. The bitcoin-otc channel isn't the big concern right now, it will take some time lurking on there to see how it really works and get the feel for the pace that transactions happen. The important part is getting registered with an OTC web of trust rating. Getting this all set up is a hassle, but it is secure. It keeps people from hijacking your reputation. The catch is that reputation takes a while to build and most people don't use OTC anyways. OTC isn't for most people though. It's for the whales and people who aspire to be whales, seeing you post history it looks like this might be awfully appropriate for you as you seem to be in that latter category. Edit: It looks like I got beat to the punch on the mechanics of WOT as I was writing this. |
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ASICs are some new custom hardware that is going to come over the horizon eventually. With an HD 6700 series you can underclock the memory, overclock the GPU cores just a bit, and set up some mining software. I recommend reading the mining forums for recommendations on mining software and what mining pools it might be best to join. You might even find some threads talking about your specific graphics card. |
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Very new here, I am an Australian and have no credit card and have no idear how to get bitcoins
i went on MtGox and said i had to Wire money but that takes ages and would rather Bitcoins sooner
It says i can reedem a MtGox code, so where do i buy them and most of my money is in paypal
However i have been looking on this forum and not many people like paypal.
Sooooooooooooooooooooooooooooooo howdafcuk do i get them. Very soon?
You can try searching localbitcoins.com, but it is worth the wait for the wire to go through if you are just starting out. |
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What block are you at? Enabled UPnP in the client and your router, it makes a big difference. UPnP makes things go faster. I may not seem like it because the blocks get bigger the more recent they are, but UPnP enabled is a big help. You can also try opening bitcoin with the server argument so you can access the command line to use the -addnode=<ip> command to connect to reliable peer from this page. See: https://en.bitcoin.it/wiki/Fallback_Nodes and https://en.bitcoin.it/wiki/Running_Bitcoin
The most recent download links on this page can get you caught up to this past march. http://sourceforge.net/projects/bitcoin/files/Bitcoin/blockchain/ (save your wallet.dat before trying to use these) But have you used any addresses yet to receive or request coins? There are lighter weight clients like MultiBit and Electrum that don't need to download the whole blockchain. You can be synced up in minutes (the plural might not even be necessary). Also if you use hard drive encryption your download is going to be excessively slow and a lightweight client is almost a must. |
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if iam have 1000$, and i have to build a mining bitcoin rig, what a hardware(gpu), i have must buy?
i mean , a new one,
Honestly, you would probably get a better return spending that money on a direct purchase of bitcoins. Alternately you can wait a few months for some ASIC hardware which should offer a better dollar to performance ratio than any GPU. However, if you have another use for that graphics card it wouldn't hurt to set it up to mine bitcoins during its downtime. Any recent high end AMD Radeon card will work. If you can find a 6990 or 7950 that would be great. It would be a mistake to think that bitcoin mining can on its own pay for a graphics card anymore. Alternately for a smaller investment there should be some cheaper used FPGAs on the market now and still cheaper in the not too distant future which are much more energy efficient than GPUs, and are good to play around with if you want to learn some basics about bitcoin mining. |
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Gut feeling. Sharp rise and drop someone someone saying it is crying for a correction, someone else saying it is due to bitcoin expansion .
manipulations of markets somehow. Pump and dumps always are frauds, is this a pump and dump, do the statistics show that. is it a bubble, does it show that. C'mon pump and dumps are frauds bubbbles are ultimately instigated by fraudsters, who made the most money. look at that. ( your question i'll have to refer back to with true data. but am i talking shit?)
Normally when people say statistics show that "fill-in-the-blank" they often have statistics to support their claims unless they are just pulling facts out of a region that depending on how polite you like your English may be referred to as either the rectum or the fundament. If you have some masterful statistical analysis showing this was a fraudulent pump and dump, or even a group think driven bubble then I'm sure the more mathematically inclined here would like to see it and read it. Break out your copy of SPSS, Stata, Sage, or whatever your statistical software of choice is and do your best Nate Silver impression. I'll keep watching while you get worked up over a wee bit of market volatility. |
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Awesome, still can't add a link to my sig yet but no biggy. I'll change it when I can  It's 10 posts for a link in your signature. |
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It wasnt a single person, it was Greed.
Everyone saw the price skyrocketing and jumped on the bubble, which was followed by profit taking and panic selling. Dont worry, it'll happen again (and again).
I don't think this is going to turn into a full blown crash, but it was probably a necessary correction that will help keep long term growth sustained. |
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Hi i just want to start ltc minning and i want to know if i have costumers/website / business where i can selling it imediat, Doesanybody knows ?
Btc-e, Vircurex.com... |
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