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1  Local / Treffen / Bitcoin Treffen am 27.6. in Köln on: June 20, 2013, 10:26:04 AM
Hallo zusammen,

am nächsten Donnerstag, den 27.6., trifft sich die Bitcoin-Community in NRW wieder im STARTPLATZ in Köln. Neben interessanten Vorträgen zu technischen und rechtlichen Grundlagen von Bitcoin wird es auch sicherlich wieder regen Austausch geben. Für Verpflegung ist gesorgt!

Mehr Informationen: http://www.startplatz.de/event/2-bitcoin-konferenz/

Gruß
Yeti
2  Bitcoin / Pools / Re: [600 GH/s] Eligius pool: ~0Fee SMPPS, no reg, RollNtime, SQL, hop OK, 8decimals on: August 30, 2011, 02:09:02 PM
Yup, it's there. Thanks, Luke! I was wondering how Eligius would catch up with all the open balances. That's the best solution and it proves once more that SMPPS is a fair system and that you would not withhold payment for your own gain. Way to go!
3  Local / Mining (Deutsch) / Re: Lohnt Einstieg noch? on: August 09, 2011, 08:38:39 PM
Versuch's mal mit http://striketeam.ath.cx/btccalc/btccalc.php oder http://bitcoinx.com/profit/. Wichtig ist vor allem, nicht mit der aktuellen Difficulty zu rechnen, vor allem wenn sie sogar zu sinken scheint. Ein geringer, aber konstanter Anstieg ist sicherlich sinnvoll.

Lohnen? Das hängt immer davon ab, wie sich der Kurs in nächster Zeit entwickelt. Wenn du direkt die geminten Coins verkaufen willst, ist jetzt eine denkbar schlechte Zeit. Wenn du aber darauf setzt, dass der Kurs noch stark steigt in nächster Zeit, könnte sich die Investition in 1-2 Jahren amortisieren. Darauf würde ich mich aber nicht verlassen, also sei darauf vorbereitet, mit Verlust wieder auszusteigen. Nur wer wagt, gewinnt.
4  Other / Beginners & Help / Re: Realistic Bitcoin Mining Calculator on: July 31, 2011, 11:22:04 AM
I think this calculator might be off on it's math.  If you put in 1.15 as the growth rate, you get to the monthly increase in difficulty in 2 increases, but this is 28*.85 days, right?  There should have been a third difficulty increase for the last part of the first month.

Yup, he explicitly states that he calculates difficulty changes every 14 days and not depending on the hashrate. So it's even a bit worse than predicted, although I'm still not convinced that difficulty will increase constantly. It's more like a curve that gets shallower and steeper every now and then.
5  Economy / Gambling / Re: [1.5x] quick pyramid - No Fee, just for rep. on: July 31, 2011, 11:18:52 AM
Quote
some people will lose out, that's how it goes.

Not sure why you would view that as sketch since it's the truth.  Not everyone can win with these "games".
Yeah, but you usually expect that it's not over at the third level already. I don't know, it just struck me as particularly sketchy, it's just a gut feeling I had. It seemed to me like an explanation beforehand that he could use after he ran with the money. "You know, 3 guys got paid and not everybody can win, so ... tough luck for the rest of you!"
6  Bitcoin / Mining / Re: 5870 running at 421 mHash/sec! on: July 31, 2011, 11:12:01 AM
PSU: "2x PCI Express 6 pinů"

This will only allow for one Graphics card. I made the same mistake on my rig, starting with a HD 5870 and planning to expand, because I thought "oh, I have 2 PCIe power connectors, that would suffice for two cards". Nope, one card needs two connectors already!

Also, I would not buy that much RAM from the start. You can surely save some Korunas when you buy one slower 1 GB bar. Apart from that, it doesn't look too bad, but it will probably take 6-12 months to pay it off completely. Although if you only plan on recuperating the cost of the GPU (that's the 200 USD, I guess) it will be quicker.
7  Economy / Gambling / Re: [1.5x] quick pyramid - No Fee, just for rep. on: July 29, 2011, 10:31:54 AM
Yeah, ok, you're right. I didn't know that fact. But it looked really sketchy to me, especially the phrase "some people will lose out, that's how it goes." threw me off.
8  Bitcoin / Bitcoin Discussion / Re: TradeHill - Why we no longer accept Dwolla and an open letter to Ben Milne on: July 29, 2011, 10:30:09 AM
Now suppose Mallory manages to get her hands on Alice's online banking credentials (either by phishing or by actively installing malicious software on Alice's computer) and sends Alice's money to a little company called Mt Gox without authorisation, then exchanges it for easily-laundered Bitcoins. This isn't an entirely hypothetical scenario; it's one of the reasons that Mt Gox's EU bank account was cancelled and they've been having problems accepting SEPA transfers.

Edit: If German bank transactions really are non-reversible that partly explains why there was such pressure to kick Mt Gox out, though their bank was in France and there are some interesting interactions with SEPA rules in that case. I suspect there's something important we're missing though.
It actually is a European regulation, so I suppose all SEPA-participating countries have these rules now. You are now responsible for making sure the transfer is OK, they won't compare recipient's names as they did before and they won't .
However, in case of phishing, banks are to reimburse their customers. I don't know how far this goes, but banks here will usually happily do that, because it's worse that their customers would lose trust in online banking.

I think the high percentage of fraud could have been the reason for CIC to kick Mt. Gox out, they just didn't want to cover anymore for these huge amounts of fraudulent transactions. However, as has been said before, the Mount should have had multiple accounts in Europe in the first place. It could also be that they just suspected a huge money laundering operation with all the cash coming in and going out to different people and a lack of understanding about Bitcoins and Bitcoin exchanges on the bank's part.
9  Other / Beginners & Help / Re: Electricity costs money. on: July 29, 2011, 04:26:23 AM
My power meter is digital, I don't think a magnet would stop the digits from accumulating. Even modern analog meters are tamper-proof and would require a huge magnetic field. Plus, I've heard they measure the power use of your section at the power plant, too, so any big discrepancy would surely ring some alarm bells.

Have you actually tried using a magnet? I heard that it worked some 50 years ago, but no chance today. However, I would be surprised if the meter spun faster to "make up" for the unmetered electricity. It's not like the disc has a memory how long it has been held back.
10  Economy / Gambling / Re: [1.5x] quick pyramid - No Fee, just for rep. on: July 28, 2011, 09:53:12 PM
I hate to say this ... But it was kind of obvious. He didn't even bother to make a website, just some Google spreadsheet. Easy money for him.
11  Bitcoin / Bitcoin Discussion / Re: TradeHill - Why we no longer accept Dwolla and an open letter to Ben Milne on: July 28, 2011, 09:37:14 PM
@ yeti sorry for my edits. westernunion is only mentioned, she could have also just withdrawn the money from her giro..

just read my last 3 lines of the prior post. i believe nothing has changed there (since 2009).....
Yeah, sorry, I just speed-read... The case is from 2006, so yes, that was before the change. http://www.zahlungsverkehrsfragen.de/ueberweisung.html
These days if there is a fraud, the bank is not allowed to charge back, but they could successfully sue the launderer (although they may not be able to ever repay their debt). I have no actual recent case to support this, but it's in the BGB. So... yeah... it's pretty irreversible right now.
12  Bitcoin / Bitcoin Discussion / Re: TradeHill - Why we no longer accept Dwolla and an open letter to Ben Milne on: July 28, 2011, 09:26:06 PM
Western Union is as far and if I remember correctly, a service to send cash to other countries. It is not in any sense a bank with "Girokonto" and wire transfers. It's much like Dwolla, but with offices all around the globe. Basically you give the WU guy in Germany 100 € and another WU guy in Uganda or whereever gives $100 in local currency to your folks there. So, yeah, they are probably easy to scam. Now, there is a Western Union International Bank, but until you say otherwise, I am going to assume that it's their prominent cash transfer service that was employed in this scam.

Edit: Oh, now I know what you're talking about. Yeah, that's a very common scam. Evildoers look for gullible people that want to "work from home". They send the money in a bank transfer that was phished and they are supposed to send it on. If those launderers are caught, they of course are liable for any losses, even though they might not be aware of any laundring or that it it's not a legal "job" they're doing. This forced some poor people into bankruptcy, when the phishing and laundering was uncovered and fell back on them. The people behind all this make the real profit but they stay unharmed of course. Small guys that were hoping for a new chance in life are a Bauernopfer for them.
13  Bitcoin / Bitcoin Discussion / Re: TradeHill - Why we no longer accept Dwolla and an open letter to Ben Milne on: July 28, 2011, 09:09:02 PM
So, to be 100% clear, you are saying that if the system tells me that I received some money from Alice, there is no way for Alice to get that money back from me other than to sue me? It doesn't matter if she claims someone hacked into her account? It doesn't matter if she says I promised to ship her a product and never did? The transction is irreversible within the system even if she alleges fraud?

If that's true, that's amazing. But I find that very hard to believe.

Yup, wire transfers are irreversible since November 2009. As they say, "it's the law". BGB §675p says that transactions are irreversible if issued by the payer (regular wire transfer). BGB §675u states that if fraud occurs, it's the bank that eats the loss. So they are very eager to protect against fraudulent transactions. BGB is the German Civil Code, it is the book of law.
14  Bitcoin / Bitcoin Discussion / Re: TradeHill - Why we no longer accept Dwolla and an open letter to Ben Milne on: July 28, 2011, 08:52:51 PM
Here's a crazy "future" scenario:

Say Alice wants to send money to Bob. She types his bank account number and bank code into her bank's online banking website, sends the funds. It's free. She has a regular account, so she pays somewhere around $5 per month for that and nothing per transaction. She could also opt for no monthly fee and $.25 per transaction, but since rent, utilities, insurance, groceries, etc. all goes through that account, she's better off with the former. So the transaction is free and it is non-reversible, once sent it can only be refunded by the payee. Sufficient funds are checked before the transfer is initiated by the bank.

Now when is this going to be a reality? Wow, this has been actually possible for the last 28 years! In a far away country called Germany. And even if you didn't own one of those fancy BTX terminals back in 1983, you could send money on a slip of paper, also free of charge or with a small fee. And what's a check (or cheque)? I've only once got one, in the late 1990s. It felt ancient.

Since 2008 Alice can also live in Finland while Bob lives in Portugal and it's still free.

No need for any of those services (Dwolla, Paxum) here. Why is the US banking system still stuck in de Medici times? You don't need VC money, you need a 21st century banking system. Why would anybody still need to physically bring their paycheck to the bank?
15  Bitcoin / Bitcoin Discussion / Re: TradeHill - Why we no longer accept Dwolla and an open letter to Ben Milne on: July 28, 2011, 03:48:43 PM
this officially makes mtgox the top exchange
Which also has problems with Dwolla...
16  Bitcoin / Bitcoin Discussion / Re: TradeHill - Why we no longer accept Dwolla and an open letter to Ben Milne on: July 28, 2011, 05:40:21 AM
Not just Dwolla's VC are watching this thread, so are the ones that Jered potentially can get support from. Jered will have little chance of securing any seed or Series A money if he continues to turn this into childish back and forth. While I  am only a "Jr. Member" here I have been involved with Bitcoin since 2009.

As an account executive and analyst in VC world of Silicon Valley it is my job to find  potential new investments and more so in vetting them out.

Oh, so it's better to secure a couple of bucks in seed money and alienate your customers than to build a loyal and happy customer base that will support the business? Rrrrriight... that's why our company did not go for VC money and grows from its own strength. It's slower, true, but as has been said, you don't have several bosses that rather want Powerpoint slides of what went wrong and explaining how this affects their risks than to actually deal with the problem.

Maybe TradeHill is even better off without the VC money if they really should recommend screwing your customer base for profit / to mitigate loss. That's not the right way to do business! Apart from all the New Economy bubble crap, real customers paying you real money is what makes a business model succeed, ultimately. Should you have to decide between pleasing investors and pleasing customers, I'd advise to go with the latter. It's just more sustainable.
17  Other / Beginners & Help / Re: Ye olde hardwaree: CPU or GPU? on: July 27, 2011, 11:50:09 AM
Not at all?!

If you do not have a dedicated rig and an efficient GPU (read ATI 5xxx or 6xxx series) it's not worth the cost of electricity, noise and heat. If you do, join a pool.

You should get hashes 1,000 times that amount, that would give you 0.25 BTC per day in mining. Of course, if you want to do it just for fun / enjoying the technical side of it, go ahead. You might get a couple of Satoshis. Wink
18  Other / Beginners & Help / Re: Electricity costs money. on: July 27, 2011, 11:46:12 AM
Use one of the calculators and calculate different scenarios of difficulty and price development (the former going up 5%, the latter going down 10% etc.)

It is not outright profitable to invest in new equipment and there is always a risk. But if you get one of the more efficient cards you should be able to recuperate your costs within a year, given that the price of Bitcoin does not change dramatically (either direction is bad).
19  Other / Beginners & Help / Re: Always be prepared! (Wallet.dat loss) on: July 27, 2011, 11:40:30 AM
I'm not mad, just cautious.

I don't know what percentage you get for promoting this tool, but when I click the download button it displays a fat "pay €19.95 to download" button. While it may be free, inexperienced users might be tempted to pay that "low price" just as they buy free OpenOffice.org for €90 from some site that managed to be SEOd to #1 on Google.

Even if you are not advertising for this tool, it's still a much better practice to keep backups than to try and undelete the wallet. It may be overwritten already or corrupted or just plain lost beyond recovery.

Then, 10 BTC is not small money imho. Trusting an USB stick with ~$140 is not exactly smart, seeing how often especially cheap models tend to corrupt without prior notice. I was "concerned about backing up" the minute I had a single coin in my wallet.

No problem that you are new to Bitcoin, but you should have read some info about it in the Wiki, specifically the prominently promoted article Securing your wallet and you would have known that you have no actual coins in your wallet, "just" the private keys to spend them so your wallet doesn't change with each transaction (unless the client generates a new receiving address in the process).

The plus side of storing your wallet encrypted on some cloud server (I use Dropbox): I can access from every PC in the world, even if all my machines would break and I somehow wouldn't be able to get to work.
20  Other / Beginners & Help / Re: Difficulty is going even more higher soon. on: July 27, 2011, 09:02:29 AM
At block 139,104 making it the 69th difficulty change, which occurs every 2016 blocks.
822 blocks to go, which is roughly 100 - 140 hours from now.

Edit: See http://dot-bit.org/tools/nextDifficulty.php for estimates on when and how the next change occurs.
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