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WTI futures are down, but not as sharply as I'd have expected. Hard to say if that market is immune, or just slow.
Silver is down 25% in 2 days, which is simply insane. I picked some up towards the beginning of the year, and I figured it was my last chance to get in under $30/oz for a couple of years at least. I wish this was coming a few months later in the year, I'd love to have all of my 2012 birthday and Christmas shopping done early at these prices.
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With regards to the suggestions of integrating NTP into the bitcoin client, I think it is a bad idea. The bitcoin client is simply not an appropriate place to put timekeeping software.
Probably correct. I'm going to side with ArtForz and his idea of built-in SNTP for the Windows version of bitcoin. The native Windows NTP works well only in domains. For the regular Windows boxes that are just members of a workgroup there are multiple problems. Majority of those problems are caused by the various add-ons, but I don't know how many people run just bare Windows machines with software only from Microsoft. The code to properly query the Windows Time Service would be more complex than just a simplest generic SNTP code. . If someone can't manage to get it installed and working, they have no business using bitcoin. We should not write our own buggy implementation of NTP when other good options exist. Notice that bitcoin does not include an antivirus scanner either, but the same arguments that would apply to including NTP would also apply equally well to virus protection. |
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I also patch my clients not to accept time corrections from the bitcoin network and think that the clock skew acceptance built in to the bitcoin network is insane. Or at least silly and out dated.
It would be great if you contribute it back to core so that others can enable it as an option. It is trivial, and probably wrong. But in util.cpp, replace the GetAdjustedTime() function with: int64 GetAdjustedTime()
{
return GetTime();
}
When this came up on the mailing list the other day, I suggested that we scrap everything involving timekeeping in the client and protocol, and start over with the requirement and assumption that the local clock be correct. It wasn't a popular proposal, but I'm pretty sure it is still the right thing to do. |
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Well, the first thing I'd do would be to contact mtgox. If that doesn't work, I think I would then check any of the dozens of other identical threads here on the forums to see what the other people did.
What's wrong with this picture? The fact that a lot of people over a period of months have reported problems getting money out of Mt. Gox is a major red flag. You know what throws up a major red flag for me? You posted in another thread on the exact same subject, so you know perfectly well that this is an automatic system intended to reduce fraud. And you also know that it gets resolved more or less promptly and to the satisfaction of the users. So, do you have a hard time remembering things that happened 4 whole days ago? Or are you just a gigantic troll? |
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Threads like this make me really wish that there was a way for people to sign up to my ignore list directly, and skip the extra steps of them having to write insane garbage and me having to read it.
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If MtGox is trading on its own exchange this is insider trading and should be stopped.
we should clarify this with the owner Mark kapeles.
MagicalTux has already stated that mtgox doesn't trade at all because it would be unfair, or at least look that way. That may or may not be true, but I don't consider the whining of lousy traders or the insane speculation of conspiracy theory nuts to be evidence in either direction. If someone does have actual evidence, I would love to see it, as would everyone else, I'm sure. That none has appeared seems to say a lot, even if it is neither conclusive nor final. It was in #mtgox on freenode IRC a while back. They collect fees in whatever currency is being purchased, so they end up with a lot of BTC. He said that they save it for purchases, like buying bitomat.pl, rather than trade it because of their position as insiders. I saw it, but don't have logs, so now you are trusting me (and my memory), plus him, but I'm sure he'd give the same answer if someone asked again. |
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I wonder how many have already been lost and cannot be recovered?
You mean besides MyBitcoin? Yeah. Accidently formatted hard drives. Dead hard drives. Stolen laptops. PCs once used but abandoned. Reinstalling Windows. Becoming bored with bitcoins and deleting them (in 2010). Lots of ways for thousands to have been lost. I honestly had no idea I had a bunch on this seldom used desktop PC. There is a thread somewhere where people have been listing known lost and unrecoverable bitcoins. |
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With regards to the suggestions of integrating NTP into the bitcoin client, I think it is a bad idea. The bitcoin client is simply not an appropriate place to put timekeeping software.
If I were emperor, I would make the client turn red if it thinks the local clock is off by more than 5 seconds from what the peers report, and refuse to run if off by more than 30 seconds.
Some of these systems need a color worse than red, but I think 5 seconds is too tight. 1 minute would throw a blanket of most of them, and a popup message to the rest pointing them to instruction on how to fix their clock would suffice for the rest. In light of a global system capable of keeping every clock on or near the planet (maybe even in the entire solar system) synchronized to within a dozen milliseconds or so, I would say that a 5 second skew is evidence of a serious error. It's interesting to note three are 1 hour, one is 2 hours, and three are ~24 hours off. I wonder if that is deliberate (run your computer in a different timezone so you now when to skype your grandkids), or a curious mistake.
Both. Computers are capable of displaying the time as an arbitrary offset from the system time. If the system time is wrong, that is a mistake, even if the reason it is wrong is because someone did it intentionally. |
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As to who is bat-shit crazy it will be probably for the courts to decide. This pertains especially to those developers who reside in the USA and other coutries with an adversarial legal system. The various fee-skimming scams are just such an juicy target for a class action lawsuit in the Eastern Texas Circuit that somebody there will just grab this opportunity.
It either that or bitcoin will tank so low that not even a bottom-feeding lawyer will be willing to get out of the bed.
What fee-skimming scams? Are we still talking about network transaction fees? |
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If MtGox is trading on its own exchange this is insider trading and should be stopped.
we should clarify this with the owner Mark kapeles.
MagicalTux has already stated that mtgox doesn't trade at all because it would be unfair, or at least look that way. That may or may not be true, but I don't consider the whining of lousy traders or the insane speculation of conspiracy theory nuts to be evidence in either direction. If someone does have actual evidence, I would love to see it, as would everyone else, I'm sure. That none has appeared seems to say a lot, even if it is neither conclusive nor final. |
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The flawed assumption is that without interest rates people would have no incentive to invest ..
As if people needed interest rates to be creative, productive and to think about their kids and the future in general.
I think people would invest with zero interest rates, that's why I want demurrage. What you fail to see is how capital yields and interest rates are related. With non perishable cash, money won't participate in investments unless it receives at least as much as it can get from liquidity. Let say you want to build a factory that will yield 0.1%. That yield is profit, and that means the investment is good for the consumers of the products of your factory (plus you're creating jobs, maybe you even hire yourself as the factory manager). If interest rates are at 4%, that factory won't be constructed. You can say, well, that's because there's another more profitable factory competing with yours for the resources. But I claim that capital-money will never (let's forget manipulations from the fed for this discussion) allow real capitals to compete between them to the point of them yielding under say, 2%. Money can yield through the wares, so means of production must yield at least that much or won't be produced. Because means of production need money to be produced. You cannot organize the construction of a factory with barter. Hang on a second. Why are interest rates 4% in your model? I know you just made up 4% as a stand-in for X%, but why does X have whatever particular value it has? |
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You should be using an external traffic shaper. Rate limiting isn't something that should be built into each and every piece of networking software on the internet.
It would probably be fairly easy to set a hard limit in the bitcoin client, but it is far from optimal.
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The fee is miniscule. Just eat it and call it a cost of doing business.
kjj probably runs a mining pool which collects those fees and doesn't distribute them to the actual miners. So your cost will be his gain. Isn't the bitcoin ecosystem wonderfully egalitarian that way? Actually, no, I don't run a pool. And my mining rigs are almost always on btcguild, which doesn't distribute fees to members, so I have nothing to gain directly by this. But finding fees in advance is only possible if you accept some horrible preconditions. If you are willing to lock parts of the wallet in advance and accept the proposed fees before the next block is found, you can do it. Pay attention to the second half of that. If you ignore it, you are absolutely certain to be paying too much in fees over time. I really like the way flexcoin handles this problem. They charge a predetermined fee when a user wants to send, and the difference (in aggregate) between the fee they charge and the fee they pay to the bitcoin network is distributed as profit to them and as a dividend "refund" to their depositors. Oh, and if anyone seriously believes that the devs are obfuscating the mining fees intentionally because they profit from it, you are bat-shit crazy, and I just thought you should know that. |
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The huge majority of stratum 1 NTP nodes are getting their feed from GPS, so trust in NTP is essentially trust in the US Government.
A huge majority of internet routers use NTP. A huge majority of the long distance synchronous optical links use GPS to synchronize clocks. To use the IP protocol is essentially to trust in the US Goverment. Any sufficiently self-deluded internet cryptoanarchist is indistinguishable from a crackpot. The un-deluded cryptoanarchist would probably research how to transmit bitcoin over shortwave radio. Or better yet, use VHF/UHF moon bounce (EME). It is the only way to be safe. IP has no concept of time, and routers only set their clocks so the logs are coherent when aggregated. For what it is worth, I run NTP on everything that I possibly can, and I personally maintain two NTP nodes with GPS receivers. But I am keenly aware that for 99% of users, NTP time is GPS time (central authority), and not necessarily UTC (distributed), even though they are in total agreement right now. I also patch my clients not to accept time corrections from the bitcoin network and think that the clock skew acceptance built in to the bitcoin network is insane. Or at least silly and out dated. With regards to the suggestions of integrating NTP into the bitcoin client, I think it is a bad idea. The bitcoin client is simply not an appropriate place to put timekeeping software. If I were emperor, I would make the client turn red if it thinks the local clock is off by more than 5 seconds from what the peers report, and refuse to run if off by more than 30 seconds. |
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Does this solve your inversion of control problem?
No, it doesn't. My short example assumed that the "client" maintains the current integrated architecture. If you want to split it between wallet-less "bitcoind" and block-chain-less "bitcoinui" then you have to explicitly specify which protocol you are going to use between the two halves. You cannot just hide behind a row of dashes. It has to be a two-way communication protocol that handles (a) receiving coins (b) sending coins (c) chain extension (d) chain reorganization (e) all other miscellaneous tasks most importantly "getwork" for mining. So far nobody had made any workable proposal. There is some sketch by Genjix & friends: http://bitcoinconsultancy.com/libbitcoin/libbitcoin/ Back in June or so, several projects popped up intending to make secure hardware wallets. As far as I can tell, there has been absolutely zero progress from any of them, for exactly the reason that 2112 mentions. Pay special attention to the one I bolded. |
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PROBLEM: New user buys BitCoins and then starts spending them, but at one point does not copy and paste the full BitCoin address into the client, or copies the wrong BitCoin address into the client. The result is that BitCoins are sent into the gutter, never to be retrieved.
SOLUTION: Wrap the send packet with the receiving BitCoin address, so only the receiving BitCoin client can un-encrypt the packet and transmit the packet back out to the network. Thus, the sender can be assured he is sending it to a real client.
If you don't paste the full address, the checksum will stop it. If you do paste a full address, but it isn't the address you intended to send to, won't the (wrong) receiver just decrypt the packet? |
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The fee is miniscule. Just eat it and call it a cost of doing business.
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Well, the first thing I'd do would be to contact mtgox. If that doesn't work, I think I would then check any of the dozens of other identical threads here on the forums to see what the other people did.
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blah, blah
Holy crap man. You turned into the biggest douchebag on the internet, which isn't easy, and all because you were impatient over 10 fucking dollars? What the fuck is wrong with you? Did someone just kick your dog? |
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