We should be worried even when some pool has 20% of the total hash rate, they can get lucky several blocks in a row and do a double spend. 51% just means they will be lucky much more often and can perform double spend with better probability.
So yes, we should be worried about centralized mining, and we are since 2009, hence p2pool exists, but miners are greedy and selfish, unfortunately that's human nature.
However, even 90% of the hashrate still requires malicious intent of the pool owners to perform double spends, and they will be obviously visible too, causing panic and destroying any value of that doubly-spent coins. There is very little practical sense in such an action, similar to some nuclear state blowing up all their nukes on their own territory - just because they can does not mean they would.
Still waiting for an official statement from cex, meanwhile I hope miners with a brain will switch to p2pool. And if you would want to protect your coins - sell cex contracts you have *now*, nobody but cex ever made any money on them anyway; and go buy a 1TH hasher pointed at p2pool. The power is in our hands.
Indeed, I just don't understand the mentality of a lot of miners. Why pile into a centralized mining structure when we have the ability to decentralize? This is bitcoin....  |
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In regards to the poll, it seems we've dropped below even the lowest estimate. Goes to show you the unrealistic expectations piled onto this kind of news.
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Majority of people are lazy and also, not so many have wallets on their smartphones and also I can't find items to be paid for using BTC IRL.
Hmmm I don't know about AFK, but for me.. it allows me the possibility to purchase things abroad online without any troubles. So in a way, bitcoin is the lazy solution to visa for me  Well, I think that's the distinction to make. I would love to be able to use my coins at more brick-and-mortar businesses (as opposed to web-based). Other than restaurant delivery through Foodler (which unfortunately is a bit lacking in my area), and a store here and there that accepts Gyft, there isn't much. |
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If you do not have a years supply of water, buy it now
Some canned foods would not hurt a bit either.
Dank, is the end of the world coming?  I have some water and canned foods stocked away. But just for a few weeks. A year's worth would come in handy in some sort of zombie apocalypse, though...  |
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I'll try to reduce the number of cigarettes which I smoke, but is too much difficult because I have an higher dependence  . So, I don't drink, and I never try a drug in my life, never one. But I think that, later the exam when I'll starts to running, I'll reduce it with an high probability (20 to 12-10) Have you ever considered replacing the cigarettes with e-cigs? Doesn't matter that you don't drink or do drugs. Cigarettes do much more harm to your body than normal quantities of alcohol. Yeah, for a lot of time I smoked e-cigs but the high heat of vapor overheating my gum, so I passed for another time to smoke cigarettes. But I want to stop it, I'll try to find a solution. I had similar issues with e-cigarettes. I just found the vapor very hot and harsh. And I was never able to really replicate the feeling of smoking with it, either. |
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Im looking for resources to buy btc same day, doesnt have to be instant just withing the same day... I know about LBC obviously and want to pay a regular price (bitstamp +1%) Are there any large miners that can service me or any resources (cant wait for circle!)
The first time I bought BTC was through Virwox.com (I still occasionally buy from there). You can deposit using Paypal, Skrill and others. On your first purchase it can take up to 48hrs for you to receive your Bitcoins because they have to manually check your account but after that it's pretty much within a few hours. The only drawback is that you'll shed some dollars in fees. For example on my first deposit of $50, I got around $43-44 worth of Bitcoin. But it's convenient and safe. Wow, that's like a 13% fee there. That's brutal. I would just go to a trusted seller on localbitcoins and pay a smaller premium there. 13% just can't be worth it... |
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I only use Cryptsy - although it tends to lack once in a while - espcially when a coin pump is happening. I used to use Cryptorush before it got hacked.
I find Cryptsy to be very much lacking. The interface and trade engine is horrible. Have you considered trying Mintpal? I'm a fan, to be honest. |
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Is there a way to withdraw your coins from blockchain? I signed up with coinbase and they gave me the long password that begins with a 1. When I had did the faucets every hour and every 30 minutes it showed up in blockchain. The reason why I know is because I went to microwallet.org and clicked on a transaction and it directed me to blockchain. I never signed up with blockchain. The activity that I see in blockchain is not in my coinbase account. Coinbase doesn't show me all the activity that I see. I don't understand it. Coinbase is saying that I have 46 cents in it, but I see a different figure in a green colored box and its way more than 46 cents. I don't get it.
If you are just generating payouts from faucets, I think that 46 cents is a really realistic amount.... you're not gonna get much. You're looking at a Coinbase address -- not your own. Send to an address you have the private key to -- then they'll be your coins.  |
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For me, best bitcoin wallet is blockchain.info, why?
You haven't to download 20GB+ of block chain. Over this, if you use it correctly with a good security, is the top !
You don't have to download the entire blockchain with Electrum, either. It's very lightweight. And I would prefer having a lightweight desktop wallet to an online wallet. I'm pretty sure I've heard blockchain.info wallets can be exploited by JS script, but maybe that was BS, not sure. Not that I don't use it for small amounts / day-to-day stuff. I keep most of my coins offline. |
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I'm sorry to hear that. Fortunately it wasn't the biggest loss. Was it an online wallet like Blockchain.info? Or a 3rd party web wallet, like the infamous Inputs.io?
Yes it was in fact the infamous Inputs.io. It was the first wallet that I tried out, as was lulled into a sense of security by their website that boasted that they had most advanced encryption available for keeping your bitcoin safe. A couple days later I received an email stating that they had been hacked and there was nothing that could be done to recover the lost bitcoins. Thankfully I was starting off very small. I could have just as easily gone all in and had many bitcoins stored there and then really gotten taken to the cleaners. I lost some to Inputs.io as well. The only coins in there were from TradeFortress's own signature ad program, so it didn't feel as bad as losing freshly bought coins. I managed to get a bit more than half of them back actually, when TF was doing manual payouts on a case-by-case basis. For a very small amount, you'd probably have gotten it back, had you known. He since disappeared -- and reappeared as a bought/hacked account.... |
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Because it might be the natural cycle of the planet and not some big marketing schemes to sell so called green items.
To play devil's advocate -- that's precisely the point I was trying to make earlier. It might be. So, too, we can't be sure that so-called climate change is not really happening. |
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I think you might have found a different wallet, such as Multibit offers a more user friendly experience. I have been using Multibit since last September. Before that I made the mistake of using an online wallet, which got hacked. I lost everything, which was only 0.01 BTC. I started off slowly, with amounts worth less than a dollar, so it is less frustrating if something backfires. It is good to start off slow with small amounts of bitcoin, while you learn the ropes, mastering the steps of how to send and receive payments accurately, backup your wallets and keep an organized list of all your passwords. Become more confortable and confident as you start to understand what to expect with how the network behaves.
I'm sorry to hear that. Fortunately it wasn't the biggest loss. Was it an online wallet like Blockchain.info? Or a 3rd party web wallet, like the infamous Inputs.io? |
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Im looking for resources to buy btc same day, doesnt have to be instant just withing the same day... I know about LBC obviously and want to pay a regular price (bitstamp +1%) Are there any large miners that can service me or any resources (cant wait for circle!)
The only method I have found for this is P2P -- Localbitcoins or the marketplace on this forum, for instance. It's my preference when I want to buy NOW, and not wait 3-5 days for my wire to go through and be properly credited at an exchange. |
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bitstamp is the best exchange.it is mostly used by btc traders and it has more trading volume than other bitcoin exchanges
This is true for the most part (at least for western exchanges), but I think it is changing. It seems like Stamp is losing volume -- maybe traders are moving elsewhere. Also, in terms of trade engine and trading tools, Stamp is far behind BTC-E and Bitfinex. |
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just have to live and learn, it gets fun if you stick with it. Many alt coins have WAY faster transactions times than BTC
Fast transaction time isn't really all that important, IMO. As long as a proper miner's fee is sent, transferring fairly significant amounts of money is fine w/ zero confirmations. With huge amounts of money, it seems that waiting for a few confirmations is not a big deal. |
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I switched to Linux and now I realise that the all Security Software economy is a scam.
I tend to agree. However, I imagine if most of the world switched from Windows to Linux/Unix, those systems would be targeted far more often with malicious attacks than they are now. |
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I have friends that are struggling to "make it" in entertainment -- music, acting. They say "don't quit your day job" for a reason. If you have the option of getting your own paying job then I'd definitely agree with that, build your skills in your free time like over the weekend or something, that said, if you really enjoy what you do you can be far more productive. I could actually do a standard job fairly well and the employer would probably have few complaints but when I'm doing something like Jewellery or Artwork I'm on fire in comparison and it's just because of the fact that I enjoy it. For sure. It can be hard to get pieces to market, though, in the sense of making a living. My girlfriend makes/sells stuff on Etsy, and some purchases come in here and there, but there is a million and ten people to compete with. So it's definitely just a "on-the-side" kind of thing. |
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Sativa in the morning  Yes, yes. Love me a fat spliff or three in the morning of some light sativa. Some Trainwreck, Blue Dream, maybe some Jack Haze.... |
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Yeah, why do people do that? I mean, come on, it's a fact for christ sake!
Fact? I'm not sure. I support clean energy production and renewables. But I am pretty nihilistic about our "knowledge" of broad climate cycles. I think the study of climate change has been largely politically charged and unscientific -- and the fact is, our primitive science really cannot give us the answers you think they can. |
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I am a miner, and I am looking for the best way to get the cash from my mining without sharing all my info.
I have hear of ATM cards that work in the states at most bank ATM's.
Does anyone have any suggestions? Or experience on how best to get cash out with out sharing your info?
What about directly selling bitcoin on localbitcoins for wire transfer and cash? Debit cards surely will have you sharing your info, and will leave a significant paper trail. I concur with the above suggestion -- use LBC for cash in person only, if you want to stay off the grid. |
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