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142
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Other / Beginners & Help / Re: What's the difference between Offline & Online wallets ?
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on: October 08, 2014, 01:49:37 PM
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Thanks all! Great info here. I appreciate it. I suppose the only reason I would care to have an offline wallet is because I worry about online accounts being hacked, that sort of thing. There's a little risk in everything I suppose.
Exactly. So it is a good idea to store like 90% of your bitcoin in a cold wallet that is immune to hacking (if done right) and just a small amount of bitcoin in your hot wallet. |
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143
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Other / Beginners & Help / Re: Somebody has sent me 0.00000003 BTC
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on: October 08, 2014, 01:36:04 PM
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Are they paying fees for those transactions?
Yes they are. The transaction spammers are paying the standard 0.0001 btc / KB fee. Take 0e086c09d4be8641ff301a2e61fc69392d92d96aa248c1f41015542cfe8f09eb as an example, the sender paid 0.0003 btc for the 2571-byte transaction. |
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144
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Other / Beginners & Help / Re: Gambling sites
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on: October 08, 2014, 01:31:52 PM
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Can you sell dailybitcoins.org vouchers on 777coin?
I don't think so, but I believe you can sell your dailybitcoins vouchers on peerbet.  |
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145
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Other / Beginners & Help / Re: Bitcoin, altcoin, litcoin, dogecoin
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on: October 08, 2014, 01:30:16 PM
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I just tried doge a month ago.. Its not as big as btc but its pretty decent..
Well looks like you have tried doge at a great time. The doge price was just 30-40 satoshi a month ago in early Sept and it is now more than double of that. |
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149
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Other / Beginners & Help / Re: Bitcoin Vs. Paypal
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on: October 08, 2014, 12:41:12 PM
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Bitcoin is better than Paypal in many aspects for sure, the only exception may be the buyer protection function.
While we have quite a number of trustworthy and helpful escrows, it is not easy for them to investigate the complicated disputes as a individual working with spare time.
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150
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Other / Beginners & Help / Re: Question about exchanges and arbitrage
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on: October 08, 2014, 12:34:50 PM
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There is a fiat deposit fee on btc-e (eg. 1% for wire transfer), a 0.2% trading fee on btc-e, a 0.001 BTC fee to withdraw your bitcoin from btc-e, a 0.5% trading fee on bitstamp, a fiat withdrawal fee on bitstamp (eg. 0.90€ for SEPA).
It seems to me that the price difference between btc-e and bitstamp isn't large enough to cover all those fees.
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152
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Other / Beginners & Help / Re: Help me understand some specifics of mining, difficulty and price movements.
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on: October 08, 2014, 12:15:04 PM
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As it becomes more difficult to mine a bitcoin older technology becomes obsolete due to difficulty as does falling BTC to fiat ratio. What is going to stop this next downtrend if there is nowhere really to go for the miners.
Bitcoin farms will be unplugged. No more bitcoins but users still trading. So more users want bitcoin but less are being produced.
From CPU to GPU to ASIC, the mining efficiency has been going up incredibly, but the improvement rate can't be sustained like that forever as the new generation of ASIC are already in 20nm process. Also, as torusJKL explained, if some miners quit, the difficulty will adjust itself within 2016 blocks. |
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153
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Other / Beginners & Help / Re: Micro transactions - confirmations?
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on: October 08, 2014, 12:04:20 PM
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Usually not. Most transactions rely on other transactions that are allready confirmed, sometimes however it happens that TX A is not yet confirmed (e.g. because no fees) and TX B that spends the outputs from TX A pays a fee. In that case it makes sense for a miner to confirm A because only then B can be confirmed. Usually they would confirm both in the same block, to benefit from the fees of TX B.
But has this way of "considering the total tx fee of a series of transactions" been implemented by the miners yet? I have heard of this for a very long time, but I couldn't find if it is still a proposal or if it is already working. |
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154
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Bitcoin / Mining speculation / Re: Buying a new 2Th miner
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on: October 08, 2014, 12:01:18 PM
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Not sure if the companies you contacted with are legit or not, but I would rather do business with more reputable companies.
For example, you can get a S4 from Bitmain, or join the ASICMiner Prisma GB.
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156
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Other / Beginners & Help / Re: Martingale System
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on: October 08, 2014, 11:17:38 AM
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Martingale System is for veeeery rich person. In this system you will win only on paper.
Nah, most gambling site have max bet so This is one of the biggest problem of this system. Next one is that we need a huge bankroll. Even if there is no max bet and you have a huge bankroll, martingale won't work as you will just hit a long enough loss streak eventually. Unless you have unlimited bankroll  If I have unlimited bankroll, why would I deposit my *unlimited* bitcoin to the casino trying to earn a little more bitcoin lol? |
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157
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Economy / Games and rounds / Re: Giving away a USB miner by DualMiner
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on: October 08, 2014, 11:16:34 AM
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This is very nice but this DualMiner is worthless today 70kh/s is nothing if compare it to ACIS. *ASIC, and it can be used on other altcoins. If a user were to find a new coin that is *proven to be* worth getting, then they could use a miner like this because of the low difficulty. So can I mine X11 or X13 with this ? Nope, as stated in OP, you can only mine sha256 and scrypt coins with it. So find a new scrypt coin with low difficulty is almost impossible. Just one person with a new ASIC and we earn nothing. And so the USB miner is great for you to learn about mining and to mine for fun, rather than for you to get rich. |
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158
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Other / Beginners & Help / Re: Question?
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on: October 08, 2014, 11:14:11 AM
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Using the bootstrap torrent will make the blockchain download much faster, but then the indexing process will still take hours to complete. It is something you need to consider for choosing the bitcoin core.
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159
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Other / Beginners & Help / Re: Martingale System
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on: October 08, 2014, 10:53:06 AM
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Martingale System is for veeeery rich person. In this system you will win only on paper.
Nah, most gambling site have max bet so This is one of the biggest problem of this system. Next one is that we need a huge bankroll. Even if there is no max bet and you have a huge bankroll, martingale won't work as you will just hit a long enough loss streak eventually. |
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160
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Economy / Games and rounds / Re: Giving away a USB miner by DualMiner
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on: October 08, 2014, 10:46:43 AM
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This is very nice but this DualMiner is worthless today 70kh/s is nothing if compare it to ACIS. *ASIC, and it can be used on other altcoins. If a user were to find a new coin that is *proven to be* worth getting, then they could use a miner like this because of the low difficulty. So can I mine X11 or X13 with this ? Nope, as stated in OP, you can only mine sha256 and scrypt coins with it. |
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