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Bitcoins relative lack of privacy creates a problem with tainted coins
risking becoming unspendable, or spendable only with some users, or at a
discount. So while the policy coded says all coins are equally acceptable,
the information exists so people can unilaterally reject them, depending on
what the taint is. So far revocability hasnt reared it's head that I heard,
nor taint inspection too much? However people have the choice and technical
means to check the taint and send the bitcoins back. I'm not convinced that this will become a problem, socially. The same problem exists with real-world cash, which has serial numbers. The technical means to track dollar bills exists. But in practice, nobody bothers. It's prevented by law, but even if the law didn't exist, I'm not sure that mainstream people would care. |
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No, it's never too late. Mining is always a good thing to do because:
- Fun
- Education
- Participate in the network
- Support the network
- Decentralize all the things
- Help to warm up your apartment
You won't make money, but that should be beside the point!
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Hi all, I have a Bitmain Antminer U1 USB miner (1.6 GH/s) which seems to be dead. When I start cgminer, it doesn't seem to find any USB device attached. Here's the output: cgminer version 3.8.5 - Started: [2014-03-08 15:57:01]
--------------------------------------------------------------------------------
(5s):0.000 (avg):0.000h/s | A:0 R:0 HW:0 WU:0.0/m
ST: 2 SS: 0 NB: 1 LW: 7 GF: 0 RF: 0
Connected to stratum.bitcoin.cz diff 1 with stratum as user ...
Block: c8c977e6... Diff:3.81G Started: [15:57:01] Best share: 0
--------------------------------------------------------------------------------
[P]ool management [S]ettings [D]isplay options [Q]uit
--------------------------------------------------------------------------------
[2014-03-08 15:57:38] Bmsc send golden nonce
[2014-03-08 15:57:38] Bmsc recv golden nonce timeout
[2014-03-08 15:57:38] -----------------start freq-------------------
[2014-03-08 15:57:39] Send frequency 82078106
[2014-03-08 15:57:39] Send freq getstatus 84000400
[2014-03-08 15:57:41] ------recv freq getstatus no data finish------
[2014-03-08 15:57:42] -----------------start nonce------------------
[2014-03-08 15:57:42] Bmsc send golden nonce
[2014-03-08 15:57:42] Bmsc recv golden nonce timeout
[2014-03-08 15:57:46] Pool 0 difficulty changed to 1
[2014-03-08 15:57:46] Stratum from pool 0 requested work restart
[2014-03-08 15:57:48] -----------------start freq-------------------
[2014-03-08 15:57:48] Send frequency 82078106
[2014-03-08 15:57:49] Send freq getstatus 84000400 These messages mostly just repeat. After I hit "q", I see: [2014-03-08 15:58:24]
Summary of runtime statistics:
[2014-03-08 15:58:24] Started at [2014-03-08 15:57:01]
[2014-03-08 15:58:24] Pool: http://stratum.bitcoin.cz:3333
[2014-03-08 15:58:24] Runtime: 0 hrs : 1 mins : 22 secs
[2014-03-08 15:58:24] Average hashrate: 0.0 Kilohash/s
[2014-03-08 15:58:24] Solved blocks: 0
[2014-03-08 15:58:24] Best share difficulty: 0
[2014-03-08 15:58:24] Share submissions: 0
[2014-03-08 15:58:24] Accepted shares: 0
[2014-03-08 15:58:24] Rejected shares: 0
[2014-03-08 15:58:24] Accepted difficulty shares: 0
[2014-03-08 15:58:24] Rejected difficulty shares: 0
[2014-03-08 15:58:24] Hardware errors: 0
[2014-03-08 15:58:24] Utility (accepted shares / min): 0.00/min
[2014-03-08 15:58:24] Work Utility (diff1 shares solved / min): 0.00/min
[2014-03-08 15:58:24] Stale submissions discarded due to new blocks: 0
[2014-03-08 15:58:24] Unable to get work from server occasions: 0
[2014-03-08 15:58:24] Work items generated locally: 9
[2014-03-08 15:58:24] Submitting work remotely delay occasions: 0
[2014-03-08 15:58:24] New blocks detected on network: 1
[2014-03-08 15:58:24] Summary of per device statistics: Does Bitmain have any kind of warranty, repair, or replacement? I have another (separate) Antminer U1 and it seems to be working great. |
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When I bought a small amount in Bitcoins a few years ago, I was very careful to read up on how to keep them safe and secure from hackers. I used long (very long) passwords, created my paper wallets on offline Linux machines, set up two-factor authentication for my exchange accounts, and kept all my backups encrypted. I did all this because I thought I knew who the crooks were. The crooks were hackers trying to take my Bitcoins for themselves. The problem was that I was protecting myself against the wrong threat. The hackers weren't nearly as much of a threat as the people who thought they could get rich running fiscally irresponsible exchange businesses and insecure trading platforms. These people might not have intended to steal, but the end result is that they did. I do not wish to divulge how much money I lost, but I will say that I have lost 90% of it. The only money I have left in Bitcoins is what I had on Bitstamp from selling XRP. I began to realize this when the Bitfloor exchange, which had around 50% of my Bitcoins shut down. This doesn't make sense. If you used very long passwords, created your paper wallets on offline Linux machines, and kept all your backups encrypted, then why did you put 50% of your Bitcoins on the Bitfloor exchange? Of course Mt.Gox was an established exchange, they were registered, had proven security, and were experienced in carefully managed accounting practices. Mt.Gox wasn't another Bitfloor, or so I thought. WTF? The only part of your statement that is mildly true is that Mt.Gox was an established exchange. Where were they registered? They had proven BAD security (see 2011 hack), and were obviously inexperienced in accounting (see 2013 withdrawal problems). When Mt.Gox said they were shutting down withdrawals to manage a bug in the Bitcoin software which by all accounts should have been easy to deal with securely, my first reaction after outrage was that something wasn't right. If I ran an exchange, I wouldn't think of shutting down for a month or two while we rewrite our software and cut customer's off from their money while I do so. No! It's not my money. Just as I argued that Bitfloor should have manually sent out money in BTC form if requested, Mt.Gox should have allowed transfers to a working exchange like Bitstamp. What? That would hurt their business? That's their problem. As a businessman in the industry of handling other people's money, your first priority is to meet obligations to your customers. As another side note, did MtGox really think anyone would trust them after they shut down withdrawals? They were dead from the moment they did so. As another side note, did MtGox really anything anyone would trust them after they were hacked in 2011? They were dead from the moment that happened. Oh, wait... MtGox and it's CEO grossly mismanaged funds in what should have been a very easy business in which to remain solvent. Look at the cash flow these people had! Apparently, however, they either mismanaged their funds or were negligent in security. It's one or the other. An exchange business doesn't lose almost ALL of its Bitcoins unless either its security or it's business practices are beyond horrible. There's also no proof that they didn't falsify volumes (or give some people perpetual free trading to boost volumes). I genuinely think this might be another Enron. It's still very early days in Bitcoin. Enron had revenues exceeding $100 billion - with a "B"! |
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I got the same email. Email list is probably from the mtgox hack awhile back.
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1. "Legitimacy" is misspelled in the video's visual. ("Ligitimacy" is incorrect)
2. I don't believe that regulation has not protected consumers. There are a lot of good consumer protection laws that do effectively make ordinary people's lives better in some ways. So although I like some of Andreas's other talks (especially his "Crash Course"), I cannot agree with his hard-line stance here. The existing financial system has plenty of crooks, but it is built on a foundation of value and much of the corruption is due to the lack of something like Bitcoin. So cryptocurrency has the potential to vastly improve the world while still maintaining the safety, ease-of-use, and security that comes from existing financial infrastructure.
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Hey everyone,
Have a look at the new Liquidity Charts:
Bitstamp Asks Liquidity
Bitstamp Bids Liquidity
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1,000 mBTC = 1 BTC = 1 XBT.
mBTC is pronounced "embit" and 1,000 mBTC is pronounced "one thousand embits". Currently, one embit is worth about one dollar.
Problem solved.
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http://www.bitcoinpulse.com/We are proud to announce the launch of BitcoinPulse to monitor how bitcoin is growing as a technology. We built this because we wanted this for ourselves. We are trying to understand how bitcoin is growing as a way to exchange actual goods versus just being a store of value or even a way of get-rich-quick speculation. Some of the most important metrics we are adding are: - Developer mindshare and infrastructure growth, which we track through GitHub repositories referencing bitcoin
- Merchant growth tracked through Coinmap and Coinbase
- Bitcoin payments accepted through Craigslist
- Coinbase consumer wallet growth
- Many other interesting metrics
We'd love to hear feedback, questions, other data sources, etc. The BitcoinPulse Team
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Place a limit order on an exchange like Kraken.com. There's no reason to just get an alert when the price drops; get your order in now, and it will automatically execute when the price reaches that level.
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Introduction: "I, Pencil" is an introduction to the economics behind how goods are produced. Read it first: I, Pencil - http://www.fee.org/the_freeman/detail/i-pencilNow, this only works when society has good money to use as a medium of exchange. Good money has 7 key properties: 1. Portable and transferable It must be convenient and safe for you to bring it along to wherever you want. Other people, including the government, should not be able to stop you from moving your money. Once transferred, the recipient should be able to verify with absolute certainty that they have the amount of money that they think they have. Good money can't be easily counterfeited. When you give me money, you shouldn't be able to take it back without my permission. 2. Divisible Money must have quick, easy, and reliable divisibility to cater for all types and sizes of transactions. This is why diamonds are not good money. 3. Durable It must have good durability: it must not decay. If it does, it's not a reliable store of value. 4. Sufficiently rare and scarce Money must be scarce enough that people can't just easily get more of it from anywhere. Otherwise, it might not have much value at all; or its value might fall over time. This is why US Dollars are not good money: there is a central authority that can create more dollars at any time, thus devaluing all of the existing dollars. Until 1965, quarters were made of 90% silver and 10% copper. Since 1965, they are mostly copper with some nickel on top to make them look pretty. In 1964, a quarter was worth $0.25. Today, that same quarter is worth $3.59. This roughly approximates the loss of your purchasing power over the past 40 years. 5. Fungible You can trade or substitute it for equal amounts of the same thing, and it's still worth the same as what you originally had. This is another reason diamonds aren't good to use for money: each diamond is unique, so they can't be substituted easily. 6. Non-consumable Oil can't be money because it's a consumable commodity. Other than being useful as money, money need not have any other use. 7. Easily identifiable Money should be easy to detect and difficult to counterfeit. The US Mint goes to great lengths to make dollars hard to copy. When you have some money, you should be able to easily check that it's real. Here's a comparison of how different things stack up in terms of whether they would make for good money: http://coin4.me/2012/05/properties-of-good-money-bitcoin/ |
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Why isn't inputs.io in this list?
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actually, it's legit. i know a lot of people who have pre-ordered it already.
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blockchain.info (app) or inputs.io (web) both work fine on iOS
inputs.io. ha. ha. ha. :-( |
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Java isn't a browser extension. There is a Java runtime that can be used a browser plug-in, but I don't think this is the same Java required by Multibit.
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Yes, it's MUCH faster. Put bootstrap.dat in your bitcoin-qt data directory.
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My wallet.dat's filesize was 70 KB.
I encrypted it with bitcoin-qt.
Then it was 53 KB.
How can I verify that it's encrypted properly?
Assuming I have a very secure password, it's safe for me to widely distribute my new, encrypted wallet.dat, right?
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When you use something like Electrum to generate a brain wallet, the passphrase is the seed. From this seed, the app generates an unlimited number of addresses, public keys, and private keys that can be deterministically re-generated, given the passphrase. So in this case, you can have one "brain wallet" (the passphrase) but an unlimited number of public keys generated from that seed; and revealing any of these public keys should be perfectly safe. Right?
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