Interesting... When I joined, I was able to post to other places, then all of a sudden I could not figure out why I could no longer post.

Now, I have more than 5 posts and more than 5 hours logged in and still can't post to other places. What else do I need to do to be able to post in non-newbie section?

You could say that the calculations are pretty much done to keep the computers occupied. The results of this calculations cannot be used for anything useful.

Computers race to solve the next hash problem, to show that they have more computing power. As long as 50% or more of the computing power is in the good guys hands, then the bitcoin network is secure. If the bad guys take over, then they could double spend bitcoins or cause other issues.

Eventually the value of the remaining coins would increase if there were less of them in circulation.

I don't think he/she has any money to donate yet, so don't ask for donations.

Mining with CPU is not advised as it would likely use up more in electricity costs than the amount of bitcoins you would get out of it. I would recommend buying some bitcoins instead. You can buy them at mtgox.com, tradehill.com, or many other bitcoin trading places. If you can afford a decent video card and bigger power supply (if needed), then buy one.

That's taking Bitcoin to an extreme - implanting it into your body. At least wait until you think that Bitcoin will stay around for sure. Then, think twice before really doing it.

I am new to Bitcoin Market, but have made quite a few trades already. I have run into one person who sent me PayPal eCheck. eCheck can take a week or more to clear. I requested the buyer to send me instant payment instead or otherwise I will cancel the transaction. I gave him two reasons for this:

1. Buyer could buy bitcoins with an eCheck and watch for the value of bitcoins to rise. If the bitcoins fall in price, the buyer would cancel the transaction. If the bitcoins rise in price, buyer would continue with transaction. So the seller is taking buyer's risk for a period of a week or more.

2. Funds are not available right away to the seller of bitcoins, so the seller cannot trade on the market for a week. In this case, if the seller would like to reinvest the money back into bitcoins, it is not possible to do. In a week, the price of bitcoins could rise dramatically and the seller would be at a big disadvantage.


Dustin Dollar has not replied to my email to cancel the trade yet. I can understand that he might have a huge volume of emails to deal with right now.


The trade id in question is 1606 (https://bitcoinmarket.com/member/trades/view/?tradeID=1606). The trade occurred on 2011-06-01 20:41:38, but at this time I still have not received confirmation of the funds, it is still pending.

I would like to get some opinions if I am being unreasonable or unfair here for requesting to cancel this transaction. Member edmehlschau (4190) is a new member and does not have any ratings, so he could potentially take the PayPal money back and run if Dustin decides to rule in his favor for some reason.

Thanks,
dabest1

Update: To clarify, the transaction is still unconfirmed by me and bitcoins are sitting in the escrow on Bitcoin Market.