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1  Economy / Service Discussion / Silk Road Shut Down, Dread Pirate Roberts Arrested. on: October 02, 2013, 04:51:25 PM
http://www.reuters.com/article/2013/10/02/crime-silkroad-raid-idUSL1N0HS12C20131002
2  Economy / Speculation / Re: Bitcoin Project will be making a major announcement in September on: August 28, 2012, 07:38:13 PM
 The beta stage is over.
 Release 1.0
3  Economy / Speculation / Re: Silence on: January 21, 2012, 01:58:06 PM
Because by now we all know what's going on.   Wink

Silence will fall when the question is asked.
4  Economy / Trading Discussion / Re: Hedge mining revenue? on: January 02, 2012, 04:52:26 PM
Why pay the spreads? If you want a short position to cancel out your entire mining revenue you might just as well sell your mined coins...
I think you are missing the point here.
 The idea is to hedge expected FUTURE mining revenue. Thus eliminating market risk from the mining operation income. It still leaves the risk of difficulty rise.
 One may sell short his expected mining revenue, and later deposit the mined coins to close out the position.
5  Bitcoin / Bitcoin Discussion / Re: 2 blocks within ~2 seconds? on: January 01, 2012, 08:28:04 PM
Last 2 blocks look like they were found within just a few seconds of each other.

Why would this be a rare phenomenon?
It takes ~600 second on average to generate a block, so it's 1/300 chance to do it in 2 seconds. There are ~144 blocks/day.
So this should happen almost every 2 days, shouldn't it?
6  Bitcoin / Bitcoin Discussion / Re: SwitchPoker.com - Adds Bitcoin Deposits! on: November 23, 2011, 07:45:37 AM
  Great news.
  How is conversion between Bitcoin and Euro done?
  There is a refference to bitcoin 24/7 who are they? I hope it's got nothing to do with the defunct bitcoin7.
  May additional identification be required for Bitcoin withdrawals? How is excahnge rate set for that? Is it the same rate
for deposit and withdrawals? If not, what's the spread?
7  Bitcoin / Bitcoin Discussion / Re: Will we ever be able to short the US Dollar with Bitcoin? on: November 21, 2011, 08:47:25 PM
Will we ever be able to short the US Dollar with Bitcoin? I know nothing. Enlighten me.

  This is the same as buying Bitcoins for USD on a margin, which can be done today at bitcoinica.com
8  Bitcoin / Bitcoin Discussion / What happend to bitcoin.org? on: November 21, 2011, 07:40:14 AM
 I get a GitHub message.
9  Bitcoin / Bitcoin Discussion / Re: A little forum Data analysis on: October 24, 2011, 09:47:24 PM

Negative issues.
1. New coins coming into circulation at a speed of 7200 BTC every day, which increase the M1 at a speed of more than 1% per day. it's really fast.


 No. It's less then 0.1% per day. There are more then 7500000 BitCoins in existence today.
10  Bitcoin / Bitcoin Discussion / Re: where is mtgox' SEPA option on: October 21, 2011, 08:51:43 PM
https://bitcointalk.org/index.php?topic=41317.0
11  Bitcoin / Mining / Re: Network hash rate stopped growing since july on: September 19, 2011, 11:53:12 AM
(... Wake me up when it is back above 5$ or difficulty is halved)

Bzzzzz Bzzzzz Bzzzzz
Price is over $5.
Difficulty is not going down, since people with equipment already paid for are making money. (Even if very little)
But ROI does not justify deploying any new equipment, and existing equipment might never return the investment already made.
(But leaving it idle will only increase the loss)
12  Alternate cryptocurrencies / Altcoin Discussion / Re: SolidCoin v2.0 features new hashing algorithm, faster on CPUs on: September 17, 2011, 09:09:34 AM

Quite well since that's up there with the fastest. I haven't quite benchmarked the new algorithm extensively (because it's not completely optimized yet) but it's about 1000 times more intensive than the last method on CPU. And the changes should make GPUs not a viable option for some time. It's utilizing SHA256 and one of the new SHA-3 candidates "BLAKE" along with some other features which the CPU is better at handling than GPU.

 I've had a look at "BLAKE" and it seams o be using similar basic operation to the current SHA-256. How is it less efficient at GPU mining then the current SHA2/256 algorithm? It does not include the non-linear elements Maj and Ch from SHA2, but these were not the main selling points of the GPUs anyway.
 I am not a GPU expert, so there is probably something major that I missed here, can somebody please explain it.
13  Economy / Gambling / Re: Where are the poker players? on: September 16, 2011, 08:21:43 PM
It really depends on the time of day. But every day there are multiple several-hour windows where we have ring games going.

Thats good to know.
What time of the day/week should I usually expect to find a full tables at?
14  Economy / Gambling / Where are the poker players? on: September 16, 2011, 07:02:37 PM
 Is there any poker site where I can play for Bitcoins, where there are actually games with players in them?
 I've played a bit on betco.in, always short handed, but that seams to have dried up.
 I have yet to see a game going on btcontilt.com .
 Is there any other site? Or are there no poker players among the tens of thousands of Bitcoin users?
15  Economy / Marketplace / Re: Bitcoinica - Advanced Bitcoin Trading Platform on: September 09, 2011, 06:41:38 PM
This is awesome. A 17-year old in Singapore invents and implements a bitcoin bucket shop. I'm truly impressed. Imagine the financial fraud he'll invent and implement when he has at least 10 or 20 years of experience.

Ladies and Gentlemen!

We now have a new Jesse Lauriston Livermore and he lives in Singapore.

What's so special about the country I'm living in? And what? "financial fraud"?



Look at:
http://en.wikipedia.org/wiki/Nick_Leeson
and
http://en.wikipedia.org/wiki/Barings_Bank

It all happened when you were a little baby.
16  Economy / Marketplace / Re: Bitcoinica - Advanced Bitcoin Trading Platform on: September 09, 2011, 02:42:47 PM
  A great idea, but I have a few questions.

 1) When depositing Bitcoins, you say I have to sell them first in order to use margin, but with 1:5 margin I should still have
4/5 of the buying power to buy more Bitcoins, on a margin.

 2) If I sell short, and the price goes up, do I get a margin call?
     How much time do I have to comply?
     When will you automatically close the position?
     Can the losses in the account be bigger then the initial deposit?

 3) In case you suffer trading losses (e.g. from untimely hedging), what capital cushion do you have to protect my money?
17  Bitcoin / Bitcoin Discussion / Re: Suggested change to future mining rate. on: June 06, 2011, 07:33:13 AM
  Another option is to make it 100/((n/4)^2) with special adjustment to 50 for n=1, this still keeps the first 8 year the same as today, thus limiting short term effect, and also guarantees a finite total number of BitCoins.
 If wanted some other adjustments can be made to make the total 21,000,000 but still have a heavy enough tail.
18  Bitcoin / Bitcoin Discussion / Re: Mining for fee only is unsustainable. on: June 06, 2011, 07:26:54 AM

The community would have reacted MUCH better to this kind of post, pointing out that there's no inherent competition between miners for transactions:  A transaction can be worked on by multiple miners at once, and as a miner, lowering your transaction fee doesn't bring you any benefit:  It doesn't "bring you more customers" than other miners, and it doesn't make the block easier to solve.  Instead, we saw someone with very little understanding of the bitcoin system approaching us with an arrogant, flippant attitude (either intentionally or unintentionally).  The same kind of reaction happens in mathematics, a well known one being the problem of trisecting the angle, the millenium problems, or perpetual motion.  Many people who are introduced to the problem automatically assume they have a clever way of circumventing it, not realizing that for thousands of years people who are very likely much smarter than them have worked tirelessly on these problems, and it'll take a bit more effort on their part to make any true progress (if any progress at all is possible).

  There is price competition.
  Supposed there are two groups of miners, one with more CPU power that requires higher fee and one with less, but not negligible, CPU power that will accept a lower fee. While the first group will win most of the fees that are high enough for them to accept, the smaller group is guaranteed to eventually collect all the fees from transactions the bigger group reject, as these will wait for them to generate a block. That way the smaller group will get it's fair share of the higher fees plus all of the lower fees reject by the bigger group, thus earning more relative to the work done.
19  Bitcoin / Bitcoin Discussion / Re: Mining for fee only is unsustainable. on: June 05, 2011, 06:49:53 PM

yes, i was going to say the same thing. first of all, how many developers and economic thinkers of even above-average abilities (for, say, an open-source project) do you think are associated with bitcoin development? my estimate is 6, and in any event it's less than a dozen. second, the issue has been quite contentious, and unresolved, for some time.



Look at http://forum.bitcoin.org/index.php?topic=12266.0
20  Bitcoin / Bitcoin Discussion / Suggested change to future mining rate. on: June 05, 2011, 12:53:31 PM
  I would like to suggest that instead of the number of BitCoins generated per block being halved every 4 years, thus being 50*2^-(n/4) it will be 50/(n/4).
  This will have no effect on the first two periods (first 8 years) but will from then on generate more coins, but at an ever slowing rate.
  This may solve several problems, it will keep miners motivated, it will generate some rate of inflation which will deter hoarders which destabilize the value of the BitCoin.
  While in theory this leads to infinite growth of BitCoin supply, which will eventually overflow 63 bits, it's logarithmic growth, so 63 bits will not overflow the the lifetime of the sun. IEEE double precision will be able to represent the total number of Satoshi for another 10000 years. (Does anyone use doubles for exact BitCoin count?)
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