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Wow, no poll option for the most secure Bitcoin client available? Fail.
Armory offline wallets.
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would nodes getting a fee encourage a more robust network?
People should help the network for the sake of the network, not for money. Agree. Lets kill the mining fees. Mining fees will eventually replace the block reward. It needs to be a gradual change. Without fees/reward, not enough people will secure the network and it will be extremely vulnerable to attack. |
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would nodes getting a fee encourage a more robust network?
People should help the network for the sake of the network, not for money. Yeah, but this is planet Earth (sorry I've grown cynical as I've grown older). I don't think the network is short on nodes (but I don't have the technical knowledge needed to know this for certain). It might be short on mining nodes (since most hashers only sell hashing power to pools instead of actually mining). |
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Why do nodes not get a cut of the fee? Without them there is no mining.
Miners do need to run nodes. Hashers who get paid to submit hashing power to a miner (pool operator) do not need to run nodes. |
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was there a change because when I tried to send a transaction out today, Bitcoin - Wallet gave me this  this clearly say the fee goes to the nodes that process the transactions not to the miners, am I misunderstand this? "Process your transaction" means to include it in a block. Only mining nodes include transactions in blocks. Non-mining nodes can not include them into a block, but they can forward them to a mining node. |
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hello from 2013, future bitcointalk readers.
Fuck, thats spooky. How did he do that. He can somehow communicate to us from the past! losangeles, buy ALL the BTC you can now! Also, don't buy Justin Bieber tickets. Fuck that. losangeles, create an instant messaging app called WhatsApp. Trust me... you can thank me later. I expect a cut, 1% is fine. |
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Original poster asked an invalid question. The valid question is:
"What benefit does ASIC bring over CPU/GPU?"
The answer is none.
Wrong. The answer is that an ASIC protected network prevents malicious entities from building ASIC devices and 51% attacking a network protected solely by CPU/GPU. As long as there is a financial motivation to build faster hardware, faster hardware will be built. Attempting to call a truce at CPU levels or GPU levels is foolhardy at best. Someone will always look for an advantage to exploit until we hit the limits of technology. |
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First time poster here... I was just thinking about this whole MtGox thing... It seems that there is really bad price discovery between the crypto/fiat worlds. BitCoin came about as a decentralized way of doing business, trading ideas, and the like... Is there not a way we can have a decentralized way of doing price discovery and get away from the centralized exchanges? Maybe not a new coin, but rather a patch that can be added onto BitCoin? Maybe? If not, would a new coin be needed? It just seems that the idea of a centralized exchange defeats the whole point of the crypto currency concept. Now, I am not a coder, so I have no idea how to implement it... But if is not possible to patch Bitcoin, a new Crypto Currency is needed, and someone runs with my idea of a decentralized crypto exchange, please call the new trading unit a YAVORSK, instead of a Satoshi  This is my white paper  Steve edited for grammar...Bitcoin isn't really what is holding back decentralized exchanges. Fiat is preventing them. How do you transfer fiat in a decentralized manner while verifying amounts and transactions and then put all of that information into a database where you can safely trade it for Bitcoins? Figure that out and let us know! |
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The network adjusts difficulty every 2016 blocks in an attempt to make the time between blocks 10 minutes on average.
The global hash rate can increase quite a bit during this 2016 block period, leading to blocks being found faster than every 10 minutes on average until the next difficulty adjustment.
If the global hash rate continues to increase at a rapid pace over a long period of time (as we've seen during the switch to ASIC devices), the targets will constantly occur sooner than expected.
The reward system has not been changed.
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If they had been handed the reins for a total destruction of Bitcoin it would now be around $75,000.
This is the funniest thing I've heard all day! Wow. Wow! LOL. |
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Just leave Gox and give a damn
Sorry. This is not an option. Once you go Gox, you aren't allowed to go back. |
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She let us know there needs to be a hierarchical centralised government at the heart of everything for it to be valid and worthy and safe from evil money launders. She did admit the current system was not perfect.
This coming from the IMF? Color me shocked!  |
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How can the bitcoin community decouple it's reliance on centralized exchanges and associated vulnerabilities?
It's going to take time. |
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So much energy being wasted on mining, save the planet maaaaaaannn. But seriously, there is so much energy/power being used in mining. It's an obscene amount.
It's far less than the energy required to run the things which Bitcoin could potentially replace. How much energy does it take a single bank to be open for business each week? Consider the land to house the bank. The materials to build the bank. The vehicles to transport the employees too and from work. The paper checks. The plastic debit/credit cards. The air conditioning/heating. The security. The customers driving to and from the bank. Et cetera. How many actual banks exist? I think there are over 6 in my small town alone. Then you have things like the VISA network. The printing of actual fiat money (which involves growing, harvesting, and preparing cotton). The US military to protect the petro-dollar! LOL, fiat is far more environmentally unsound. |
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My personal opinion is that BTC was created to fight cintralization and to be available to everyone. ASIC's go against both of those things.
No, ASIC devices do not "go against" both of those things. Specialization is inevitable. It isn't logical to fight it. Ultimately, hashing with an ASIC device is less expensive than hashing with a GPU or CPU because they are more efficient. If Bitcoin continues to exist, we will see more available hardware as competition continues. |
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Hi everyone. I haven't got any bitcoins in my wallet and I think that this is a good opportunity to get some. As all of you guys know, mtgox has had some so called "problems" and that resulted in the price of bitcoins to go down. The average price of bitcoin is at 160$. I was wondering: if I buy some bitcoins off them, will I be able to get them automatically or I will be just another person who has lost his bitcoins?
No, you won't get them automatically. They have frozen Bitcoin withdraws. The gamble is whether or not they will ever allow, or are capable of allowing, Bitcoin withdraws again in the future. If you want to gamble, go to a casino. If you want to buy a bitcoin, avoid Gox. I apologize in advance if you heed this free advice and miss out on ridiculously cheap bitcoins if Gox reinstates Bitcoin withdraws again in the future. I understand. If I ever hear that everything is fixed, I might jump on the occasion tho. Guess I will keep playing Poker Stars! If "everything is fixed", you won't be able to purchase the ridiculously cheap bitcoin IOUs anymore because they will be actually functioning IOUs instead of possibly-functioning-in-the-future IOUs. In fact, as far as I know, Gox still hasn't fixed their extensive problems with fiat withdraws, so it is likely that if they do reinstate Bitcoin withdraws, Gox bitcoin IOUs will again be more expensive than other exchange's bitcoin IOUs. Savvy? |
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Hi everyone. I haven't got any bitcoins in my wallet and I think that this is a good opportunity to get some. As all of you guys know, mtgox has had some so called "problems" and that resulted in the price of bitcoins to go down. The average price of bitcoin is at 160$. I was wondering: if I buy some bitcoins off them, will I be able to get them automatically or I will be just another person who has lost his bitcoins?
No, you won't get them automatically. They have frozen Bitcoin withdraws. The gamble is whether or not they will ever allow, or are capable of allowing, Bitcoin withdraws again in the future. If you want to gamble, go to a casino. If you want to buy a bitcoin, avoid Gox. I apologize in advance if you heed this free advice and miss out on ridiculously cheap bitcoins should Gox reinstate Bitcoin withdraws again in the future. |
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No worries. This is a very strange thread. LOL.
Some time ago I will say that tomorrow. Oh, you! My brain hurts. I'm off to find a milkshake (frappuccino flavor) in the hopes of getting brain freeze! |
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