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801  Other / Beginners & Help / Re: Is anyone else extremely frustrated? on: August 30, 2013, 05:47:22 AM
I recently bought my first bitcoin using #bitcoin-otc on irc.freenode.net

The reputation system relies on you being able to set up OpenPGP (of which gpg is an implementation).

My advice: PayPal and Bitcoin don't mix. I prefer Money Orders myself.
802  Other / Beginners & Help / Re: Only 14 of 15 ASIC miner USB's show up on BFGminer on: August 30, 2013, 05:36:26 AM
Sounds like a possible cooling problem. Do you have a fan laying around?
803  Other / Beginners & Help / Re: Novacoin phising site on: August 30, 2013, 05:32:44 AM
If your anti-virus does not quarantine it, I would consider the machine compromised. Disable autorun on you main machine if you have not already.

Without disassembling the software, we don't know what it does.

There have been Bitcoin wallet stealers in the wild. New ones may include a keylogger to capture wallet passwords.

Edit: listening implies waiting for commands. That implies the program won't tell you what it does (it does not know).
804  Other / Beginners & Help / Re: Is Now The Time To Buy? on: August 30, 2013, 05:21:36 AM
While buy and hold has historically been a good strategy, I would encourage people to hold off if the price suddenly starts doubling every week. Even if the fundamentals are strong, you will get speculative over-shoot and the bubble will pop. This happened May of this year (2013), June 2011, and apparently November 2010.
805  Other / Beginners & Help / Re: Just landed on: August 30, 2013, 04:59:38 AM
I consider my FIAT a digital currency due to the discrete denominations. Smiley
806  Other / Beginners & Help / Re: newbie very important questions ..experts answer me here please .. on: August 30, 2013, 04:49:15 AM
The difficulty has been going up incredibly fast in recent months.
Code:
<phillipsjk> ;;diffchange
<gribble> Estimated percent change in difficulty this period | 19.25748 % based on data since last change | 30.39817 % based on data for last three days

It is an open question whether even the most efficient miners will have any chance of ROI once the average person gets their hands on them.

I think the most likely scenario is that most ASIC hardware will kind of pay for itself over the next 2-3 years.

The days of 120day ROI are gone.
807  Other / Beginners & Help / Re: [How best to spend the 6 minutes between posts] on: August 30, 2013, 04:43:27 AM
And I thought the 90 second search time-out was bad.

I got bored reading the rest of the forum (Instead of doing real-life stuff), so I decided to check out the newbie jail.
808  Bitcoin / Group buys / Re: [Open] Bitfury miner group buy + hosting (with ESCROW) 10/11.18 shares left on: August 30, 2013, 12:23:30 AM
What is your mining policy?

I would prefer the use of P2Pool and merged namecoin mining, but wouldn't want to impose that on the group.

If/when my Bitcoin node is up, you may want to add it to the list of manually selected nodes. Again it is not something I would want to impose on the group.

My head hurts after trying to figure out if I would be interested in even holding YACoin Tongue (what concerns me the most is the 1 minute block interval)


809  Bitcoin / Mining speculation / Re: What's next after 28 nanometer ASIC bitcoin mining chips? Will outdate soon too? on: August 29, 2013, 11:33:41 PM
There was somebody on IRC that claimed they were working on a Quantum simulator that runs on standard computer (thus allowing more Q-bits). I am skeptical of that claim. However that would be about the only technology to increase the mining efficiency by orders of magnitude.

I think long-term, it will be industrial scale mining that makes the biggest returns. I am talking large enough to justify the cost of building a solar power plant in the desert (cooling may be a problem there though).

810  Bitcoin / Hardware / Re: Why does Avalon PDU need caps? on: August 29, 2013, 09:36:20 PM
Well, they would smooth out current spikes, by-passing one connector and cable-run.

Not sure if that would be strictly needed though.

Edit: did PDU v1.1 have those caps?
811  Economy / Speculation / Re: What will the price be on October 1st? on: August 29, 2013, 05:43:25 AM
I predict a dip to about $90 in the first week of September followed by a steady rise. My gut tells me we will have a new peak around $300.

I predict that the price will be $225 on October 1st (±10%)

Disclaimer: I am not betting my own money on a doubling.
812  Economy / Speculation / Re: Track Record Forum Members on: August 29, 2013, 05:35:23 AM
On March 19, 2013, 03:59:14 PM I made two predictions:
  • that the price would stay above $50
  • That the price would stay below $100 for about 40 days.
Prediction: btc123 will have trouble crashing the market by promissing to sell $1M USD worth of BTC.

I am claiming that his manipulation only served to speed up price-discovery in a market "stuck" at a psycological barrier of $50USD/BTC.

Second prediction: The daily average price on Mt.Gox will not rise above $100USD/BTC before April 30, 2013.

That prediction assumes that the events in Cyprus don't cause a collapse of the Banking sytem in the reast of Europe.
The banks did not collapse in Europe, but the price at Mt. Gox went above $100 on or about April 13, 2013: over two weeks ahead of my prediction.

On July 4th, I call the bottom at $60. The dip bottoms out at just below 70 2 days later.
If the price drops below $5, I will consider taking out loans to buy up as much BTC as I can.

I would be surprised it the price dips below 60 for any extended period of time.


That gives me a track record of 2 correct, 1 wrong prediction. I don't usually explain my methodology, so I am not sure it is possible to separate my predictions from simple guessing. Wink
813  Other / Meta / Re: Search timeouts for 90 sec on: August 27, 2013, 08:38:07 AM
When I tried searching, my first search had no results. My refined search also had no results.
Terms: "Bitcoin rank" "Wealthy Elite"

I ended up entering the (second) search string into Google appending "site:bitcointalk.org" to the end.

Somebody on the #bitcoin IRC chat commented:
Quote
<YouIsCat> Congratulations on feeding the beast.
<YouIsCat> Did you enjoy being wiretapped in the NSA terminal called "Google"?

Seen in that light, the non-working search is actually a security risk.

Edit: Obviously the timer was added after the search function was used to DDOS the forum. Perhaps making searches more "burstable" would help:
-You are allowed 1 search every 5 seconds -- logic fail?
-You are allowed 2 searches every 20 seconds
-You are allowed 3 searches every minute -- dupe
-You are allowed 4 searches every 5 minutes
814  Other / Off-topic / Re: Claim your Bitcoin Rank of Nobility on: August 27, 2013, 08:04:50 AM
This is similar to another thread that was not moved to off-topic yet.

Bitcoin Supernode System

I have recently upgraded my status to Freeman.

815  Bitcoin / Bitcoin Discussion / Re: should I just get used to this? on: August 01, 2013, 03:15:19 AM

** And the latest, my double password protected account at blockchain was emptied of all bitcoins two weeks ago and my ticket asking them if anything had gone wrong is still in the "This request is awaiting assignment to a support agent" queue


does this happen to be a "brain wallet"? If so, your passphrase is probably not as secure as you think it is.
816  Bitcoin / Bitcoin Discussion / Re: Banks are Killing cash money - BitCoin to the rescue on: July 30, 2013, 08:34:48 PM
Sorry, but it is not banks which are killing cash, but governments.

Correct.

The Canadian government phased out the $500 and $1000 bills because they were too money-dense. Now you have to pack you suit-case with $100 bills. Ironically, the new plastic bills are at least twice as dense as the paper ones (they are thinner, so more can be put in a stack).

Mint-Chip, if it ever takes off would be even more money dense: storing up to $500 CAD in a MircoSD card. Unfortunately, there will probably be restrictions on transferring those from person to person.

817  Other / Off-topic / Re: LOL on: July 30, 2013, 08:24:47 PM
Some people are worried about rawdog: http://www.youtube.com/watch?v=OgWrMXvpIAs

I think rawdog should read the first reference in the Satoshi white paper: It explains what all that CPU power is used for.
W. Dai, "b-money," http://www.weidai.com/bmoney.txt, 1998.
Quote
The creation of money. Anyone can create money by broadcasting the
solution to a previously unsolved computational problem. The only
conditions are that it must be easy to determine how much computing effort
it took to solve the problem and the solution must otherwise have no
value, either practical or intellectual. The number of monetary units
created is equal to the cost of the computing effort in terms of a
standard basket of commodities. For example if a problem takes 100 hours
to solve on the computer that solves it most economically, and it takes 3
standard baskets to purchase 100 hours of computing time on that computer
on the open market, then upon the broadcast of the solution to that
problem everyone credits the broadcaster's account by 3 units.


For some reason bitcoin.org keeps making that white-paper harder to find Tongue
818  Bitcoin / Bitcoin Discussion / Re: Banks are Killing cash money - BitCoin to the rescue on: July 29, 2013, 06:43:08 PM
Could you give me a link?

These are commonly called "Pre-paid credit cards", which are essentially debit cards with very high fees.

Paid via Card, Workers Feel Sting of Fees

Edit: the second page of that article says that pre-paid cards are regulated differently than standard credit or debit cards.
819  Other / Meta / Re: Blank user name and password prompt form fails to login. on: July 24, 2013, 05:58:41 PM
Just about every other website I log into has a separate login page. (I actually avoid logging into web-forums)
820  Other / Meta / Blank user name and password prompt form fails to login. on: July 24, 2013, 05:40:21 AM
Normally, when I want to log in, I click on the "Login" button near the top of the page without filling in my information. This presents me with a page complaining that I did not supply my log-in information. If I then fill in my log-in information, I now get a message that there was an error: and that I should wait 45 seconds before trying again.

If instead, I fill in my login information with the mini form next to the login button (like a 'normal' person?), it appears to work every time. The other day, the login with the intermediate page failed at least 3 times. Today it failed once before I gave up on it.

One awkward thing about this bug is that there is no clear way to report it until you find the work-around Wink

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