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1  Economy / Currency exchange / [SOLD] Looking to SELL 0.0986 BTC for 32 GBP UK Bank Transfer on: August 11, 2014, 06:20:10 PM
As the title says, looking to sell 0.09865551 BTC for 32 GBP for UK Bank transfer only (No PayPal, Skrill or anything else thanks).

Send me a PM if you'd be interested.
2  Bitcoin / Bitcoin Discussion / Cost and Confirmation time of Bitcoin Transactions on: November 19, 2013, 11:50:28 PM
There seems to be a substantial backlog (6000) of Bitcoin transactions building up thanks to the increasing number of users taking to the technology (https://bitcointalk.org/index.php?topic=338999.0) and numerous questions in the [Technical Support] board (https://bitcointalk.org/index.php?board=4.0) over why transactions are seemingly now stuck in Limbo even when they include a fee.

Suggestions have been mooted such as "include a higher fee" and "be more generous", but how does this work in the context of most users? The average person will do what their wallet tells them. They'll have no idea what constitutes a suitable fee for inclusion in a block and when they realize that even if they include the required 0.0001 BTC minimum fee, this puts them in the same position and requires they still wait 12-48 hours for their transaction to confirm - it's going to raise serious questions over Bitcoin's scalability...

In addition, according to CoinMill - the cost of 1 BTC is currently 641.84 USD and a transaction fee of 0.0001 BTC is 0.06 USD (6 cents). 0.0005 (the old fee) is 30 cents. As Bitcoin appreciates (if it does), the cost of transactions relative to the value of a Bitcoin grows substantially.

This makes it pretty uneconomical for any merchant to engage in using Bitcoin as a currency as A) they'll be waiting ages for their transaction to confirm if the user incorrectly attaches an 'unacceptable' fee and B) the cost of moving BTC is likely to rapidly meet or exceed that of preexisting payment methods such as ACH, Debit and eventually Credit cards... and in the case of the latter two it doesn't generally take 24-48 hours to even acknowledge your transaction exists.

Are there any solutions to this conundrum?


3  Bitcoin / Bitcoin Technical Support / Stopping Bitcoin Daemon using unconfirmed inputs on: November 19, 2013, 10:11:44 PM
I've got a bit of a problem with the Bitcoin Daemon starting to use multiple unconfirmed input to chain new transactions. For example, I've had to manually submit a transaction (https://blockchain.info/tx/35c4e8c86075cf3f5335e029abd2d981af011c142b56e04c0a6d8b0d588d32ae) to the blockchain.info database because it's input is currently unconfirmed. As a result, this transaction cannot confirm until all its ancestors have confirmed. This behavior has only recently started becoming noticeable (not sure if it was prevalent before or is something to do with potential fragmentation in the wallet?) and I'm wondering is it a symptom of the significant increase in user traffic resulting in miners becoming more 'picky' and as a result, chained transactions appearing because an ancestor that maybe is valid but didn't include a fee, are being ignored for long periods?

Second question, is there any way I can mitigate this behavior so that only confirmed outputs are used as inputs?

* Edit: Provided better example link
4  Bitcoin / Legal / German VAT Ruling - On what exactly is VAT charged? on: August 19, 2013, 09:59:46 PM
I'm still slightly unclear on exactly where VAT is applied in respect to Bitcoin purchases within Germany. To copy an unanswered question from: http://www.reddit.com/r/Bitcoin/comments/1koasj/germanys_ruling_on_bitcoin_paves_the_way_for_its/ :

Are you applying it to the full face value of the Bitcoin you purchased, or just the profit that resulted? For example; I buy a Bitcoin for 100 EUR and I sell it for 105 EUR. Should I have actually sold my 1 Bitcoin for 124.95 EUR (105 EUR + 19% VAT) or do I sell it for 105 EUR but then give the German government 0.95 EUR (19% of 5 EUR)?

The question is interesting because intrinsically, Bitcoin has no worth other than that which 'the market' attributes it. So, charging VAT on the face value would be akin to charging you 19% more to purchase a gift voucher that you only redeem for the face value. You wouldn't pay 120 EUR for a 100 EUR iTunes voucher, so... where does the VAT apply?
5  Economy / Currency exchange / [WTS] - 25 GBP iTunes voucher for BTC on: July 19, 2013, 10:30:08 AM
Looking to sell a 25 GBP iTunes voucher (sealed as new) for BTC. Please PM me any offers.

Buyer sends first (you can review my previous transaction history) or we can use escrow (buyer pays fee).

Any questions, give me a shout.
6  Economy / Currency exchange / [WTB] 30 BTC @ 5% below Mt. Gox Last (negotiable) - UK FPS on: May 23, 2013, 01:46:29 PM
Topic says it all really. Looking to purchase 30 BTC through UK FPS. 5% below the spot (Ideal if you want to liquidate some exchange funds). Two things; reliable persons only (Offers from individuals with Bitcoin-OTC history preferred (btc-otc name: bluewaterunicorn)), and; looking for regular volume BTC suppliers ongoing (likely significantly higher volumes - rates negotiable).

We can discuss the details of the transfer over PM. Note: UK Interbank transfer in GBP Sterling only to UK bank account. No international accounts or other payment methods considered.

Questions? PM me.
7  Bitcoin / Development & Technical Discussion / Getting Coins out of testnet in a box on: August 28, 2012, 12:45:23 PM
Hello, 
     I'm running the testnet-in-a-box 3 configs against Bitcoin daemon 6.03 and I've got both instances of bitcoind talking to each other (one connection each), however whenever the mining instance generates a block - there is no balance increase:

Code:
C:\PROGRA~1\Bitcoin>bitcoind -datadir=1 getinfo
{
    "version" : 60300,
    "protocolversion" : 60001,
    "walletversion" : 60000,
    "balance" : 0.00000000,  <----?
    "blocks" : 2,
    "connections" : 1,
    "proxy" : "",
    "difficulty" : 0.12500000,
    "testnet" : true,
    "keypoololdest" : 1346156689,
    "keypoolsize" : 6,
    "paytxfee" : 0.00000000,
    "errors" : ""
}

Am I missing something fundamental here settings wise? Any help would be appreciated.
8  Other / Beginners & Help / Bitcoin Blocks and Transactions on: December 29, 2011, 02:22:49 PM
Could someone please clarify a few points with regards to the blockchain and transactions. My understanding is that each block (currently valued at 50 BTC) forms a part of the block chain back to the genesis block. Now, each block can have it all or part of it's ownership transferred to any number of different recipients (pubkeys) through transactions.

  • Are transactions recorded against the block, or seperately to the block-chain? What I mean by this is - if you've got BTC amount of 10, of which 5 came from Block A, and 5 came from Block B and you transfer all 10 BTC to another 'person' - are two transactions generated - one per block indicating the transfer of ownership of that portion of the block to the recipient?
  • If a block is eternal - how can it ever become 'spent'? The wiki indicates that Sathoshi's paper allows the merkel tree to be 'pruned' of spent blocks (although this is not currently implemented). However, if all that is transferred is all/part ownership of a block - surely they can never be removed since someone may wish to 'spend' (transfer ownership) of the BTC's at any point in the future?. Meaning everyone requires the full block chain - or the ability to retrieve any part of that block chain - in order to validate a transaction containing 'early' blocks?
  • How is potential fragmentation due to high volume, small denomination amounts addressed? Every transaction must be logged - but what is to stop me creating multiple transactions of 10E-8 back to myself - increasing the actual data size of any transaction that would then need to use that block's Bitcoins. E.g. I send 1 Btc to a target, comprised of 10E8 individual inputs - resulting in (i guess) a large amount of binary data. Even if there was no malicious intent, surely though the growth of bitcoin, fragmentation of blocks will become a problem (this assumes I've understood how transactions and blocks are linked).

Much obliged for the assistance!
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