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1  Economy / Speculation / Major flaw of Bitcoin found on: November 05, 2013, 02:20:02 AM
http://www.sciencedaily.com/releases/2013/11/131104112234.htm

But post-doctoral fellow Ittay Eyal and Prof. Emin Gün Sirer have discovered that the conventional wisdom is wrong. In a paper that was released on ArXiv today, they describe a mining strategy they call Selfish-Mine, which allows a group of colluding miners, known as a mining pool, to earn more than its fair share of compensation. Moreover, large mining pools can use this strategy to increase their revenue even more, at the expense of honest miners.

The implications of this result are devastating for the system, say Eyal and Sirer. Once a selfish mining pool forms, other miners will want to join that pool to increase their revenue. This process could lead to a takeover, where the selfish miners become a majority, control the global Bitcoin ledger, and the decentralized nature of the currency collapses.
2  Economy / Service Discussion / How to join MtGox's IRC channel? on: October 11, 2013, 01:55:36 AM
Would anyone please help, whenever I try to join #mtgox, it says I need to identify with the server. Do I need to type my mtgox user id and password there? But I am afraid that might compromise my account.
3  Economy / Service Discussion / MtGox btc withdrawal not working again!! on: October 10, 2013, 02:23:48 AM
It is working again apparently.
4  Bitcoin / Bitcoin Technical Support / 6 hours no confirmation, with fees on: May 25, 2013, 04:25:19 PM
http://blockchain.info/tx/7833ed0e395ff3cdc59ab10a2b2e5264532f26437b7cd42d9a2802fd5c8d0671

I used Multibit to send the bitcoins and it automatically added a fee of 0.0001btc, I thought it would get confirmed quickly but it was not.
Will it get confirmed eventually after a day or two?
I am starting to hate Bitcoin, whether I include a fee or not, they take forever to be confirmed, the confirmation mechanism is the major obstacle to mass adoption.
5  Other / MultiBit / How do I import a Multibit wallet to bitcoinqt? on: May 23, 2013, 08:16:43 AM
I need to sign a message with my private key in a Mulltibit wallet, but I think this function is not provided by Multibit.
I think I will have to import the wallet to bitcoin-qt(or other clients?) to sign the message.
Please help.
6  Economy / Speculation / [Breaking news]Australian online electronics store DigiDeals will accept Bitcoin on: May 10, 2013, 12:25:09 PM
http://www.brw.com.au/p/tech-gadgets/pay_payments_the_future_australian_Cd2TJeX6NByGZpbf1f9c1K

Good news keep popping up.
Bears gonna hate. Cheesy
7  Economy / Speculation / For those who still doubt China is a hype on: May 06, 2013, 05:10:33 AM
Here is yet another news article on Bitcoin, today from xinhuanet - a news media in China directly controlled by the party.
There are clearly pushing Bitcoin to the public

http://big5.xinhuanet.com/gate/big5/news.xinhuanet.com/info/2013-05/06/c_132361304.htm

I am not going to translate the whole passage to you all because it is rather long and my English is not good enough to do so.
I only translate the sub-headings for you guys, you can clearly see that the whole article is positive towards Bitcoin.

瘋狂的比特幣:支付就像發微博未來能買房
Bitcoin fever : Making payment is as easy as blogging(Weibo), the possibility to buy houses in the future

支付比特幣就像發微博
Paying with Bitcoins is as easy as blogging(Weibo)

比特幣沒有第三方監管
There is no 3rd-party controlling Bitcoin

獨特邏輯杜絕偽造貨幣和重復支付
Unique algorithm prevents counterfeiting and duplicate payments

用于捐款能夠公開透明
All donations made in Bitcoins are public and transparent

今後4年每10分鐘產生25個比特幣
In the next 4 years, 25 bitcoins are mined every 10 minutes

錢包地址分公鑰和私鑰
Public key and private key in your wallet

交易與“挖礦”全天候進行
Trading and mining Bitcoin non-stopped

總量只有2100萬枚
limited availability of 21 million Bitcoins

24小時都有交易行情
Can trade bitcoins 24 hours a day

一夜能漲幾百
Gain a few hundreds overnight

6000元的顯卡一口氣買了13張
bought 13 display cards each of worth 6000RMB

GPU顯卡是基本配置
gpu display card is the most basic requirement

希望用比特幣購買房子
Hope to buy houses with Bitcoins

籌建比特幣購物網站
Online shopping websites with Bitcoins in the making

通貨緊縮以及傳銷騙局之憂
The worries of deflation and Ponzi scheme

Out of the 10+ paragraphs, only the last one is talking bad about Bitcoin. I can boldly conclude that there should be little to no disapproval of Bitcoin from the party. So, prepare for the stream of hungry Chinese buyers Grin
8  Economy / Service Discussion / MtGox down? on: April 28, 2013, 11:53:48 AM
Is their website down again?
I have been trying to load the webpage for several hours but still no luck.
I can only access their support desk, but I think I will only receive a reply after a week given the professionalism of their support team.
9  Other / Beginners & Help / MtGox charges an extra 2.5% for trading in different currencies on: April 21, 2013, 09:25:55 AM
Although they tell(or mislead?) you that they support trading in different currencies, doing so costs you extra money.
When you buy bitcoins from a seller using a different currency, they would hide the extra 2.5% fee into your order(you will see a price 2.5% higher than the actual price), in other words you are paying more money for the same amount of bitcoin than the others. This fee is in addition to the 0.6% transaction fee. Since the market is dominated by US dollars, and thus most sellers accept USD by default, it would be wise to only deposit US dollars into your account if converting to US dollars in prior costs you less than the aforementioned 2.5% fee.

Just a friendly reminder to anyone who are about to deposit money to MtGox and don't make the same mistake of me. Sad

The information is well-hidden here:
Quote
Q. Are there any other fees charged when trading in multi-currency?

A. No. However, please be advised that there is a 2.5% premium when a trade involves orders in different currencies.  However, this is not a separate charge. It is already reflected in the price you see.

source: https://support.mtgox.com/entries/20800336-Multi-Currency-Trading
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