There is no one cause for the problems in this world. What you said might be one of them but I think there are problems that run much deeper than that, which I won't go into now.


I don't see how Bitcoin solves any problems. It is actually unregulated and the way that BTC mining will progress, most of the wealth will go to the "big" mining pool guys which puts them in a position to control the market and make huge profits.



What you are talking about is a 25 Gh/s ASIC miner. At 25Gh/s you will make 1.64 BTC/day at the current difficulty of 7672999. We are in the pre-ASIC days right now. When Avalon/BFL have shipped out their hardware, the difficulty will rise exponentially (and it already has, see this link).

In 3 months (and 6 difficulty re-calculations later) lets say the difficulty will be 30x what it is today. At 25Gh/s you will make 0.05 BTC/day at the 30x difficulty of 230189970. You are going to be needing a lot more units very fast. This will drive small scale mining out of business and only the biggest guys will remain with the most hardware.

The problem with these ASIC miners is that they are literally "money making machines". To consider it unfair is a matter of perspective but it is certain that the perceived "everyone can mine Bitcoins" mentality from infomercials is an illusion as those with the most miners will come to hold the most BTC and thus control the value of the currency.

I am trying to raise awareness about this issue, maybe you can help me.



In this case one group (the elite) will exploit and profit immensely on BTC sales to the other group (the unsuspecting public). You didn't describe how this model has played out with the people around you, only that they did.

Hi. For the longest time I ignored Bitcoin and it wasn't until a week before the "crash" (2 weeks ago) that I began researching it after seeing the BTC prices soar. I've since installed the client and tried mining. I've been thinking about Bitcoin a lot recently and found some fundamental issues that I would like your opinions on.

I've learned that BTC is generated whenever a new block is found on the blockchain. The BTC is given to the finder or a mining pool which then splits the amount between the miners.

In a capitalist economy (most of the world) however, money is created by central banks and those banks are regulated (well, to some degree) and we put our trust into those banks to control the creation of money to adjust to the economy.

How can Bitcoin ever be a viable economy when the BTC created is going unregulated to individuals and most of it to early adopters? I feel that this fact is being brushed off to easily by people.

Also in the next few months, Avalon and Butterfly Labs are going to ship out incredibly powerful Bitcoin ASIC mining hardware to its customers that have 1000% to 10000% mining capacity of GPU miners (more and more specialized chipsets are coming out with extreme hash rates).

This will put GPU miners completely out of the market in under 6 months and all the wealth generated will go to those groups who bought or manufactured the most powerful mining hardware aka the "elite".

I would like to hear your thoughts on this issue and whether or not you think the fundamental concept of BTC (or money in general) generation could have been done differently.

The address received 0.17 BTC.

1C9yD2HDbRE58pSMTpP6r5GYaWSSCmT4Hz - (Unspent) 0.17 BTC

Maybe his bitcoin wallet hasn't synced completely in which case he won't see the money in his wallet until the wallet is synced.

I also have a Barts GPU (6850) and I went through the exact same problems as you.

How do you make your memory clock stay at 300mhz? When I set the memory clock to 500 or any other clock in Afterburner and then turn on the miner, the memory clock goes up to 1000 again. I've also tried changing the memory clock while the miner is running, it doesn't seem to make a difference. I did manage to raise my core clock and got a few extra mh/s.

Also, I set my workload to 128 (-w 128). Try it and tell me if it makes any difference.

The most likely explanation I can think of is that you aren't giving enough power to the video card. 600W is a lot but when you are running the card 100% then it draws much more than normally. Consider upgrading the PSU.

One thing you can do is take the video card out of the PC and put it in another PC to try to correlate if it's the graphics card itself that's the problem.

That is not normal.

What is your OS, CPU, video card, video driver version and how much Watt does your PSU output? How hot does the GPU get and how are you cooling it?

The wallets are located at different locations on your computer.

For Electrum, the wallet is located here:

C:\Users\YourUserName\AppData\Local\Electrum


For Bitcoin-Qt, the wallet is located here:

C:\Users\YourUserName\Appdata\Roaming\Bitcoin


So you can run both clients on your computer at the same time without problems.

Each client (e.g. Electrum) creates their own wallet and each wallet has their own address. You can send money between the wallets by sending the money to an address in the other wallet. You can also import the wallet from one client into another to combine the wallets.

If you want to, you can import the wallet from Electrum into Bitcoin-Qt, just see this link.

You can do the same with any other client. If you want to move the wallet to another client, you need to "export" or "dump" the private key which is what you want to import into another client. Every wallet should have a "import wallet" or "import private key" function, just look at their help or wiki page.

What kind of CPU and graphics card do you have in your computer?

It's possible that the app made a backup of the wallet, you can check that by plugging it into your computer and then just open the phone's storage in Windows, then search for a folder called bitcoin or wallet or search manually for a backup file.

Also, next time be more careful about deleting wallets and be sure you own the secret key to the address before you send money to it.

Don't rely on the security of web and mobile phone wallets. Consider installing the official client (Bitcoin-Qt) or finding another client. Then create new addresses and transfer your bitcoins to them.

1. MTGox is a bit swamped these days so I suggest using other exchanges. You can wire money to exchanges or buy other currencies and sometimes over-the-counter coupons depending on where you are. Trade some dollars for BTC on Bitstamp or check localbitcoins.com or bitcoin-otc. There are a lot of other markets, see this for more. I don't know if this might help you.

2. I don't have that experience so I can't help you.

3. I don't own a mac but take a look at this list.

4. The wallet holds the private keys to the bitcoin address which proves that you own it. In Bitcoin-Qt the wallet is stored in wallet.dat and on web wallets it's stored in a database on their server. If you have bitcoins in a web wallet, you should transfer the bitcoins to an address in your local wallet. Another way to do it is to export the private keys (also called secret keys) to your computer and then import them to your local keychain. Keep in mind however that even though you exported the private keys from the web wallet, they still know the private keys. That's why you should always send your money to a new address which you have created locally and only you know the secret key. For best security, you should create addresses offline and stored the keys on cold storage.

What are xrp?