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It's an interesting idea.. but it seems like it's centralised on a single website, which is a single point of failure (and vulnerable to things like DMCA takedown notice).
It may be that you can't solve the problems without centralising, but I'd hope someone smart would come along and come up with something better.
As far as chargebacks go.. you'll end up with a messy dispute mechanism if you're not careful. In the case of fraud they're invaluable (and you'll never be able to safely take credit card/paypal without such a mechanism, and the dwolla mess wouldn't have been an issue with it in place) but user A saying user B didn't send an item through the post? That's how paypal came unstuck...
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Is this genuine? I started a SEPA transfer yesterday and I'd hate to lose that money.. haven't received any communication from tradehill related to problems.
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I got in just before the big price rise a couple of months back, sold a few BTC, realized the price was going up, then stopped selling.. that was a mistake, but realized that way too late.
Currently losing much more per week on the price drops than I'm gaining mining, and don't have the luxury of the nearly free power you get in the US so I'm resigned to never paying it off (price drop plus difficulty increase looks like converging with the power cost in the next month or so), but I had fun...
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I can't get past the install script... Would you like smartcoin to attempt to auto-detect installed miners? (y)es or (n)o?
y
Found phoenix miner installed on local system
1) /raid/home/tmh/phoenix/phoenix.py
Select the local phoenix installation from the list above
1
Found poclbm miner installed on local system
Which miner listed above do you want to be the default miner?
poclbm
Invalid selection. Please try again.
poclbm
Invalid selection. Please try again.
1
Invalid selection. Please try again.
phatk
Invalid selection. Please try again.
What do I type here? It's not obvious.... Breaking out of that, I can't configure it manually... edit settings brings up the following.. smartcoin Management System r469() Tue Jul 19 18:42:55 BST 2011
--------------------------------------------------------------------------------
EDIT SETTINGS
Select the setting from the list above that you wish to edit
*What* list above??? I'm clearly missing something obvious as others have managed to get it to work, but damned if I can see it.. |
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Just before Mt. Gox went down, their market depth looked like this (at 1413).  . That matches the order book - almost no bids. Yet the price was going up to 14 at that point, which is backwards. Did their incoming payment system break down, or what? This is either incompetence or manipulation. So someone was gaming the price.. cheap fees make that quite feasable, for a little while anyway. Not sure why it justifies mtgox shutting down trading.. if they're going to do that every time anything they don't like happens they might as well rename themselves the fed and set the price manually. |
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He's probably being overoptimistic - that calculation doesn't include power cost, and assumes stable difficulty for 2.5 months...
Do it for fun, geek value, or ideology, or because you need a room heater... Not money.
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Probably busy.. bitcoincharts wasn't responding for a while either.
Lots of people watching at the moment.
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Well this is fun. I learn about bitcoin at 10.50, I get convinced at 12. I start transferring money at 17, I miss it when it hits 32, I buy it when it hit 21, and it continues to collapse from there.
I think I may have missed the big bubble. Oh well, I guess I'll hold in good faith.
I learned about it at 5, sold a few whilst mining was good at 5ish, realized it kept going up, so stopped selling.. missed the peak as I was at work, and now can't sell as I'd make a loss on the mining rig... At the rate it's falling it'll be back to 5 tomorrow. It was fun whilst it lasted I guess (never invest what you can't afford to lose..) |
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[Price of a fish ~= Cost to get that fish on your diner table.
I guess you never did economics :p The price of anything is not related to the cost of production, only the price decided by the market. If you're selling widgets, or fish, or whatever, you sell for whatever people will pay. If they won't pay for your cost of production then that's tough, really... you either take the loss or go and do something else (or run an advertising/rebranding campaign to bring the perceived value up). |
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Look, I have no emotional attachment to the classical definition inflation, but the modern one is bordering on the absurd. Or over. If tomorrow(next year, decade) technologies will evolve in such a way that prices of basic necessities (those whose weight is not zero) will halve, the money supply will have to be doubled in order to avoid harmful deflation?
You already know that's exactly what they'll do.. |
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Excellent... It's good to see sites coming onstream that do decent security audits.
More payment options would be great... the only reason I still consider mtgox is it's the only one that can do direct transfers to/from euros without imposing stupid fees.
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Rounding is a major concern on just about anything that does a significant amount of calculation.. It wouldn't be surprising at all if mtgox got that bit wrong... compared to some of the other stuff I wouldn't even consider that an issue right now. OTOH from the initial 1BTC example it looks right (0.0065 rounds to 0.006 using bankers rounding).
btw. you never compare floats for equality.. you compare within a tolerance, or don't use float. I'm not sure why mtgox would need to be comparing floats anyway.. mostly they're showing the results of simple calculations.
That 0.2222 error.. I've made that kind of mistake myself by rounding too early.. it happens. It'll probably be fixed by the code rewrite and if it isn't then's the time to point it out, not now.
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mtgoxlive has tracked TH for the last few days.
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Accepted without needing to provide proof.
Had a decent password and there was nothing in the account, so that probably helped.
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The only one of my Linux machines that got hacked was hacked in a similar way, except it was a VPS and my mistake was not realising that HyperVM was sneakily resetting my root password to the provider-set default of "changeme" behind my back. (Surprisingly, even then it seems it took several days for anyone to actually brute-force their way in.)
That's why you *never* enable password access on SSH, and certainly never allow remote root logins. |
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Would it be difficult to add a Firefox add-on that lets you log in supported websites using private/public key authentication? So, instead of having to create a separate password for each website, one would just give them his/her public key.
No plugin needed.. startssl do it and it works on anything pretty much, as long as you have the root CA (which for them is easy as it's in the default set that ship with the OS, but might have to be transmitted out of band for a bitcoin CA). They generate and send you a client key that gets stored in your keychain (this is trivial point and click stuff on most browsers). Then when you visit the site again it requests that cert. and you are logged in. If you don't have the key, you don't get in. The only reason it's not used more widely is more inertia than anything else... people are used to usernames and passwords. |
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You can just abuse standard DNS for this... just stick a TXT record in a well known place eg. _bitcoin,
So a client sending bitcoin to foo.com just looks up _bitcoin.foo.com and reads off the address from there.
The problem is (a) modifying DNS is easy for geeks, not so easy for grandma. And geeks can already use bitcoin addresses.. So it doesn't really get us very far along the usability stakes, and (b) as it stands it's not good at multiple users per domain.
Now if someone can find a away of mapping email to bitcoin address without introducing massive amounts of infrastructure or a central database, then that'd be a good solution (as easy as paypal, without the fees. People would go for that).
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It looks like it's a VPS.
This isn't the same as a shared webhost - it's much closer to a separate machine (except somewhat cheaper). I presume it's a temporary measure until the income is enough to afford full hosting.
It's pretty secure, unless the hosting company is dishonest.. and I expect we'd hear about that pretty quick.
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