I am trying to recover to Mycelium Electrum-created wallet with 12 seed words. First word went well. Second word is English but Mycelium doesn't have it in embedded dictionary and therefore I can't enter this second word neither any remaining words.

What is wrong? Is it impossible to recover foreign wallet. Or am I simply can't find how to tell Mycelium that this is the word and I'm entering another one.

Are they really so different and incompatible? Multibit program keeps quiet, ignores words and disabled "Nexr" button.

Today I have updated my standalone windows 1.6.1 version to the newest 2.4.4. When I start it I got box with warning quoted in subject and no more action. What should I do get into my valet?

As we all know at the moment Bitcoin is not quite ready to be a payment system for everyday use. Many people put their efforts towards that direction (including myself) but it didn't work that well. Bitcoin still remains merely investment and speculation tool.

I analysed what could be the main obstacle in this process for Bitcoin. My conclusion appeared that exchange rate to local currency is the main problem here. There is no fully "trusted" source of the rate. We do have rates from the leading stock exchanges, we do have average or weighted aggregates of those rates. But still that sources are "points of weakness" in the system. We can't trust them that way like we trust blockchain information.

Therefore I came out with an idea to add to the blocks exchange rate information. Not necessary for all available currencies, world reserve currencies would be enough (USD, EUR, GBP). A peer will collect exchange rate from any available source or sources (or establish its own). Then miners averages and confirm such rate in the block (dropping obviously rubbish values). It becomes an "official" rate like Central Bank's rate in each country. Though commercial entities are free to add their own margins as commercial banks do now.

It should not be integral part of the Bitcoin protocol but kind plugin functionality. We can drop it when turn the world to Bitcoin economy. Pleas give your thought on the idea and its technical implementation possibility.

Central Bank of Transdniestria* issued plastic coins for public circulation. Several security measures taken to protect new coins (special composite plastic, microtext printing, UV- and IR-fluorescent elements, etc).



More images at http://www.cbpmr.net/?dt=1106 (Russian language)

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*Transdniestria -- Transnistria (also called Trans-Dniestr or Transdniestria) is a breakaway state founded in 1990 with limited recognition located mostly on a strip of land between the River Dniester and the eastern Moldovan border with Ukraine.

Dear BTC-e,

You probably was not aware before this moment but now I would like to inform you that many of your users do withdraw Bitcoins not to their personal wallets but directly to merchants. Your behavior when you deduct Bitcoin fee from the transferred amount ruin whole concept of Bitcoin e-commerce. Merchant get less amount then expected and therefor payment is not triggered by the merchant software. It leads to a lot of hassle.

Please, please, PLEASE!!! Do change your business model. If customer send X BTC then then receiver should get X BTC (not X-0.001 as it coming now). Deduct your fees from anywhere you want but not from transferred amount.

Thank you for understanding.

I do sell stuff for Bitcoin. Usually it works normal. But quite often I see buyers who order product but send less amount. It seems Bitcoin fee was deducted from that amount. Obviously merchant script does not trigger and waits for more bitcoins to arrive.

I wonder what insane Bitcoin client does such thing? May be I can post a notice warning such Bitcoin client users, that they won't get ordered stuff if not full amount arrived.

I am trying to employ Electrum using shell console commands. In principle it works but for my big surprise I found missing "create new address" command.

Also "history" command output is far too minimalistic. In fact I could peek into the code and extend history output. But implementing create address failed as I'm not familiar with the internal architecture.

Would you brush up the set of console commands?

This is not yet another altcoin but something different. The purpose of this idea is to solve current lack of using Bitcoin as payment method. We all know that lion's share of Bitcon used in speculation rather than as market payment mean. Average merchant in the "white" market expects that his payment mean stay more or less stable. That what national banks used to provide for the national economies.

You probably heard that Bitcoin was called Money 2.0. I'm disagree and would rather call it Gold 2.0 and it explains why using Bitcoin in day-to-day market life adopted so slow. Exactly same would happen if we suddenly decide to use gold as a mean of payment within domination fiat currency. If you remember deceased e-Gold they initially implemented electronic gold gram but pretty quickly introduced fiat equivalents for the sake of convenience.

Proposed Bitfiat is a kind Money 1.5, electronic money with fiat pattern but backed by Bitcoin with the following features:

• Separate block chain formed for all world currencies in one network (multicurrency)
• Bitfiat address is prefixed with currency code and transactions possible only between same prefix addresses
• No mining, Bitfiat emitted by reserving Bitcoin
• Anyone can emit Bitfiat by transmitting certain amount of bitcoins to a reserve address
• Reserve address may be "private" or "public" (only originator can get reserve back or any other public member)
• As an option allow only "private" reserve to suppress Bitfiat speculation market
• Bitfiat emission confirmed by more than 50% Bitfiat network nodes, each node free to use any exchange rate. Therefore in order to get confirmed issuer must provide solid amount of Bitcoin as a reserve
• Withhold of Bitcoin reserve takes by destroying Bitfiat in the same amount previously emitted

Bitfiat can be used as a workable decentralized substitution for PayPal, Dwola, Webmoney, Perfectmoney and alike. A practical merchant solution halfway between existing fiat realm and future Bitcoin world.

Imagine you got bitcoin transfer which you want to refund. For certain reasons you can't contact payer. Is it OK to pick originating bitcoin address (or one of them) and send bitcoins there? Won't these bitcoins end up somewhere in limbo?

I have got an idea in my mind and partially it relies on this topic. I learned that there is technology of distributed private key exists. Private key split and distributed among several parties. When necessary the key can be assembled back.

Unfortunately I have no detailed view on deep principles of Bitcoin. I wonder is collective ownership can be somehow applied to the existing Bitcoin network? Say employing special client software. As I see it there is one peer who have to do all the work creating address and private key for it. Then this peer gets dominance over others, owner of the peer may peep the key.

Am I missing anything? May be there is a way to create true distributed key?

Since today I see something unusual. Transactions without commission are left behind and not confirmed at all. Free transactions are always used to be confirmed couple blocks later than those with commission. But this time there are already 20 blocks.

Strangely that those transaction are not broadcasted. They are missing in blockchain. I can't blame my client because from say 20 latest transaction half of those with commission are fine and confirmed and free ones are in Limbo (standard client automatically assigned commission).

What's going on? Are there so many transactions that miners just drop free ones?

Is there any point behind that fact Bitcoin client supplied with two executables "bitcoin" and "bitcoind"? Why it could not be single module with both functionality? Technically it seems possible. User then could see output either on server's desktop or via RPC.

Sometime user can see is just dull daemon window on the server and rejection from RPC. It is not clear either network unreachable or daemon is syncing at the moment. Could be much more friendlier if user see that client is functioning and in what particular state.

At this moment there are following products available:

• Ultimate Game Cards
• Zynga Cards
• Cherry Credits Cards
• Cubicard
• @Cash Cards

Purchase with Bitcoins at face value price or with small add on (depends on product). Bitcoin processing and online delivery is fully automatic 24/7.

See www.centraw.com/?page=shop

It happens that I do send out many micro payments in automatic mode with bitcoind. In general I do not mind to pay some fees in order to support the network. But when it comes to the multiple small payments it damages my income.

I'm aware of that tiny or "young" transactions are need to backed up by fee. But I still can't understand the pattern of fee calculation.

Altogether around 50% transactions goes with 0.01 BTC fee and others are free. There is no correlations with the amount. Larger ones may be with fee and smaller may be free. The wallet consists of plenty BTC with the majority of funds being very mature. paytxfee parameter seems does not give any effect.

I'm trying to understand algorithm of fee calculation in order to minimize my losses.

I would like to let you know that www.centraw.com has got another axillary service -- SMS send out to cellular phone worldwide with the latest currency exchange rates. Up to three quotes of whatever currencies per message. Not necessary including BTC, any other currency pairs may go too.

Free tests are available.

Though it is not main activity for www.centraw.com we have decided to implement one accessory feature "Bitcoin Express Purchase". There are many options which include alternative Credit card gateways, Paypal, Moneybookers, Click&Buy, Amazon Payments, DaoPay and other global and local systems detected automatically by your location.

Now you can buy small amount with no hassle and fast (anti-fraud checkup may be involved when necessary). Don't forget this is is just auxiliary service. For the better rates and larger amount you can go through the main part of www.centraw.com

Не секрет, что основная проблема Биткойна в данный момент -- недостаточная развитость инфраструктуры. Не так легко купить или вывести их. Однако в соседнем городе может оказаться человек, которому нужна противоположная операция. И с ним легко было бы обменаться средствами, используя какие-либо способы перевода денег внутри страны (как правило быстрые и дешевые). Как его найти?

Предлагается новый проект: www.centraw.com
В нем каждый желающий может предложить к обмену свои средства, указав что и в каком регионе/стране/банке он может принять/отдать. Вы спросите: "Есть же уже #bitcoin-otc, зачем еще". Тут немного по-другому. #bitcoin-otc устроен на принципе репутации и каждый сам должен оценивает риск работы с противоположной стороной. В www.centraw.com же репутация не нужна, поскольку обмен происходит по принципу escrow (без комиссии). В большинстве случаев вы даже можете не знать, с кем производите обмен. 

Надеюсь, что этот проект позволит принести в более широкие массы такую замечательную идею, как Биткойн.

Dear Folks,

I would like to introduce you new project www.centraw.com

It is Bitcoin exchange service to/from fiat money or any other existing e-currency. Unlike usual exchangers whose areal limited to one country in Centraw it will be no boarders as soon as any private person can join and became exchanger covering some locality. You know it is usually very easy and fast to wire money within one bank or one clearing district/country or may be use any other local money transfer system (think postal order or kind local Western Union alternative).

Of course the idea is not absolutely new. There are places where one can browse through private Bitcoin offers. The difference of www.centraw.com is that you have minimal risk and don't have to think would you trust the guy on other end. You probably won't even know who was there and never exchange any words. (Yeah, such bizarre social network!)

The agenda behind www.centraw.com is to bring Bitcoin closer to lay Internet people, to simplify and cheapen funding and withdrawal operations. Altogether it should lead to better popularity of Bitcoin.

Please excuse any possible hiccups as software is new and need to be polished. Support will be of course provided. Also more features to come later. If you decide to sign up submit your cellphone number to experience Centraw feeling.

Thanks.

MyBitcoin was one of the way to get easy to use merchant gateway. If there are any new analogs I guess folks will be reluctant to step in to the same spot for the second time (at least I am). And there are seems no descent alternatives around. Though I believe that nonavailability of simple merchant solution is one of the important reasons which prevent Bitcoin from spreading beyond just a speculation digital unit.

I came out with the idea of combined merchant gateway. In this idea merchant's wallet to be kept on merchant's own server/station, while all the routine to be done by the third party merchant agent. The agent won't be able to possess or spend funds but only watch its arrival to the merchant's wallet and duly notify merchant about completion.

There is code already written and running. Folks who interested may have a look at www.bahtcoin.com/merchant/