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221  Economy / Games and rounds / Re: ★☆★ 777coin.com - The Modern Bitcoin Casino! ★☆★ [Free mBTC!][Get Yours Now!] on: June 30, 2014, 06:17:30 AM
Username: Nagato4
222  Other / Beginners & Help / Re: Is Bitcoin still truly decentralised? on: June 30, 2014, 06:15:06 AM
Well I would rather have it decentralized over 1 000 000 users computers, than having it spread over 2 000 bank branches. The odds of having the network attacked and destroyed, are in favor of the BTC decentralized network.

Well in actual fact, you can see it as 1 000 000 {theoretical number} of nodes running and duplicating the same thing.

The threat is, when people stop running as nodes.

You are too optimistic on the number of nodes.
There are just about 7000 nodes currently, according to https://getaddr.bitnodes.io/dashboard/
223  Other / Beginners & Help / Re: Which betting site is good for investing? on: June 30, 2014, 06:00:45 AM
Exactly there is no good place to invest in betting.


Um yes there is, eg Ice Dice... Its better than mining.

I am not sure if I should really invest in ice-dice.
They are very inactive here (made just 1 post in the past 6 months)...
https://bitcointalk.org/index.php?action=profile;u=150946;sa=showPosts
224  Other / Beginners & Help / Re: Doing a deal for a domain using bitcoin escrow, need an opinion fast. on: June 30, 2014, 05:55:46 AM
Is there any good trusted escrow available in bitcointalk?

Feel free to check https://bitcointalk.org/index.php?topic=276897.0 and https://bitcointalk.org/index.php?topic=108716.0 to find a long lists of escrows. Cheesy
225  Economy / Speculation / Re: Crossed 500 USD - Bull Market returns ? on: June 30, 2014, 05:52:16 AM
why it's very hard to see bitcoin >$600 atm
reach $604 for a moment, and drop again below $600
was silk road seized bitcoin auction make negative sentiment?

absolutely... the market sentiment is the auction winner may dump all the coins in the market overnight to encash them ...which is bullshit.

BTW, AFAIK, the winning price won't be announced publicly.
Phase III: Award and Sale Close
On Monday, June 30, 2014, by 5:00 PM EDT, the USMS will notify the winning bidder/bidders that their bid/bids has/have been selected. Any winning bidder must send the purchase price funds (less the $200,000 deposit amount) by a wire transfer originating from a bank located within the United States and provide a wire transmittal receipt to the USMS by 5:00 PM EDT, Tuesday, July 01, 2014. It is the responsibility of the winning bidder to understand their bank’s deadline for initiating wire transfers in order to ensure that the domestic wire transfer is initiated and a wire transmittal receipt provided to the USMS by the deadline. Failure to provide the USMS with a copy of the wire transmittal receipt by the deadline will result in disqualification, forfeiture of the deposit, and award to another bidder.
Bitcoins will be transferred to winning bidders in the order that each winning bid was received. No bitcoin transfer will be made until the USMS has confirmed receipt of all purchase funds. The winning bidder(s) will be given private instructions related to the transferring of the bitcoins.

So, we may never know the auction price, or get lots of FUDs and misinformation. Smiley
226  Other / Beginners & Help / Re: Best place to sell BTC? on: June 30, 2014, 05:47:28 AM
Coinbase lets anyone sell up to $50k per day. Not that I would ever need to sell that much but good to have that option.

However, for example BTC does take off in the near future and explodes to $2k+ per BTC, and lets also say that Coinbase shuts down for whatever reason...where can I sell my BTC in bulk?

Bitstamp, Btc-e, Bitfinex, Kraken, Bitsimple, bitcoin.de, localbitcoins, BTC china, etc.
227  Other / Beginners & Help / Re: Wallet question on: June 30, 2014, 05:39:54 AM
It will always work for the private keys that are included in the back-up. But remember, if you regularly create new addresses, make transactions, etc, you must back up your wallet regularly. Otherwise, new private keys generated may not be included in your original back-up.

Thanks, yes this is the point, how many transaction can be done before the old wallet.dat must be updated?

Deterministic wallets allow you to create unlimited amount of addresses with the same original backup.

+1.
It is very easy to make backups with deterministic wallets (like Armory and Electrum) as you only need to backup the seed.
Plus, the seed would be enough to generate all the addresses you created and to be created in the future.
228  Other / Beginners & Help / Re: Newbie question about 1 TH/s bitmine on: June 30, 2014, 05:32:39 AM
SHA256 ASICs are hard to make a ROI these days. I suggest purchasing a scrypt miner instead.

Check out gawminers!
Since KNC, is coming out soon, even scrypt might be difficult to roi depending on shipping times. Better asics are also coming out to the market.

True, true. But right now the ROI is really low and GAWminers are shipping soon.

ROI is going to plummet with the advent of ASICs comming to scrypt mining.

Yup, we will see a rapid rising in difficulty of litecoin (and doge and other scrypt coins) when the ASICs are shipped.
This is a good example of why it is difficult to ROI with mining as it is difficult to predict the future of mining technology.


The 400MH/s KnC titan will be shipped in Q3 (http://www.coindesk.com/kncminer-titan-deliver-400-tape-out/) while the 500MH/s GAW Vaultbreaker will go live in Q3/Q4 (http://www.gawminers.com/products/hosted-pre-order-batch-1-the-vaultbreaker-500-mh-s-asic-scrypt-miner/).
It is really hard to estimate how the litecoin difficulty will evolve 3 months later. Tongue
229  Other / Beginners & Help / Re: blochain is shitty on: June 30, 2014, 05:15:45 AM
100 confirms you only need 6 confirmations in Bitcoin


Not when you are trying to spend your block reward (coinbase tx). Tongue
Check post #10 by bg002h for details.
230  Other / Off-topic / Re: Post your Total time logged into Bitcointalk on: June 30, 2014, 05:10:18 AM
Total time logged in: 1 days, 8 hours and 11 minutes.
231  Economy / Exchanges / Re: Which Bitcoin Exchange do you use and why ? on: June 30, 2014, 04:51:29 AM
Did you read about that guy recently who sent 800 BTC to an MT Gox address? Crazy stuff. You'd think someone would take a little bit more care when sending that amount of money.... Undecided

Really? I didn't know that...

EDIT: I found the story with google. Tongue
http://www.reddit.com/r/Bitcoin/comments/273vi2/if_you_just_received_800_bitcoin_out_of_the_blue
232  Other / Beginners & Help / Re: Online Wallet Scams (Post the names/urls of sites that may have scammed you!) on: June 30, 2014, 04:47:35 AM
I heard MT Gox scammed a few people Tongue

Too soon? Tongue Undecided

Not really an online wallet, though. Although, it did seem like quite a few people did use them as a wallet, mining address, etc. Pretty crazy. I would have thought after so many scams by centralized bitcoin services, that so many people wouldn't have trusted an exchange to be a wallet service... but knowing this community, this will only continue....

I hear people are still mining to them and some pools had to block the addresses

And someone on reddit just sent mtgox 800 btc

Unbelievable. A trustless, decentralized currency, and people became so used to sending their coins to a centralized exchange for storage that this is still happening! Quite unnerving....  Undecided

TBH, I can't really understand why some bitcoiners want to have a "bitcoin bank", when the most important point of bitcoin is decentralization.
233  Other / Beginners & Help / Re: Remembering all of those passwords without sacrificing security on: June 30, 2014, 04:36:29 AM
1 -If the key to decrypt the file is held on your computer then in the event that your computer crashes (all data lost) then you would lose your file.

2 -If all you need is a password to decrypt the file (similar to a brain wallet) then all an attacker would need would be the password instead of the private key. The attacker could simply brute force the password instead of brute forcing the private key to decrypt the file.

True and true.
And so the password I use to encrypt is a very long password (20+ characters, with special characters) that only I know and I am pretty sure I won't forget it ever (as it has some special meaning to me but just random characters to others).
234  Other / Beginners & Help / Re: Martingale System on: June 30, 2014, 04:31:34 AM
The amounts that you bet do not make a difference. It is the fact that the difference between the minimum and maximum bet is usually too small for it to work as you would need to bet exponential greater amounts as you lose

Even if you have a very high balance and can afford many losses consecutively , it is still not a good idea to use martingale at all, because you will still get busted sooner or later with a very long losing streak.
235  Other / Beginners & Help / Re: How some services offer Bitcoin against credit card ? on: June 30, 2014, 03:20:33 AM
Buying bitcoin via a credit card on one of these kinds of sites is kind of like using a faucet in a sense that it may be good to allow you to get try and see how bitcoin works but is an very bad deal for users if they use it over the long term. 

Pretty much so.
I don't think people will use the sites repeatedly, paying a high premium.
236  Other / Beginners & Help / Re: Remembering all of those passwords without sacrificing security on: June 30, 2014, 03:02:28 AM
Many people look to cloud storage for this. IMO this is a horrible idea as your cloud storage account could get hacked at any time and/or the NSA/government could be snooping around in your private information.


You should really first encrypt the files (use 7zip for example) before putting it on cloud storage.
237  Other / Beginners & Help / Re: P2Pool vs Normal Pool - Which one better ? on: June 30, 2014, 03:01:02 AM
Since P2Pool is very small it has a higher variance as it's small size creates a greater chance that it's two week luck will be something other then 100% this can work for or against you

Sorry... I dont get your point. Why are u assuming a P2Pool will be small ? If it can offer proper service to miners it may become big like GHash.IO as well. Is not it ?

Indeed, the p2pool hashrate is about 450 TH/s now (http://p2pool.info/), which is just about 0.36% of total network hashrate.
So, IMO, it is fair to say p2pool is very small...
238  Other / Beginners & Help / Re: P2Pool vs Normal Pool - Which one better ? on: June 30, 2014, 02:54:23 AM
One of the nice features of p2pool is the ability to donate - and surprisingly, people do indeed donate.  That is one advantage over mining the other pools.

IMO, the real surprising fact to me is that, only a tiny fraction of people are willing to donate and support the developer.

https://bitcointalk.org/index.php?topic=18313.msg7430095#msg7430095
Despite that, it is hard to work on this project when most people insist on cutting off the pool donations to me. When I see guides telling people to use --give-author 0 without any mention made of what it does, people blindly following them, or people asking me for help, providing screenshots of them running P2Pool with donations disabled, it hurts a bit. Actually, more than a bit. Right now, I get 0.09% of the revenue from P2Pool due to node donations (which default to 1%), which likely means that about 90% of people have completely disabled donations. That doesn't result in much revenue. Just today I spent about 10 hours getting http://p2pool.info/ working, which is the equivalent of two weeks of pool donations - if I were being paid minimum wage! I don't have a job (I am a student) and I do have other side-ventures that I'm working towards that look a bit more optimistic, so pardon me for rationally allocating my free time.
239  Other / Beginners & Help / Re: Is BitCoin faucets really worth the time? on: June 30, 2014, 02:49:34 AM
they are a waste of time when you can get satoshi 50,000 at a time for free here: https://bitcointalk.org/index.php?topic=670535.0  Grin
That is nothing more then a MLM program.

You can really only make money if you refer enough people.

And that's exactly why there are so many "LAT" threads everywhere on bitcointalk in the past few days...
240  Economy / Currency exchange / Re: [WTB] BitCoin with Paypal on: June 30, 2014, 02:46:52 AM
I got your PM, and sorry I can't do the trade with you.

I of course if you buy and get the BTC I have no reason to do a chargeback  Wink

Who knows?  Cheesy
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