Bitcoin Forum
April 17, 2014, 05:24:44 AM *
News: ♦♦ A bug in OpenSSL, used by Bitcoin-Qt/Bitcoin Core, could allow your bitcoins to be stolen. Immediately updating Bitcoin Core to 0.9.1 is required in some cases, especially if you're using 0.9.0. Download. More info.
The same bug also affected the forum. Changing your forum password is recommended.
 
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1  Other / Marketplace (Altcoins) / Re: *[BCN (other bytecoin)/BTC]* Google Spreadsheet Exchange on: April 16, 2014, 04:59:02 AM
WTB 12 million BCN for 1 BTC
2  Other / Alternate cryptocurrencies / Re: MC2: A cryptocurrency based on a hybrid PoW/PoS system on: April 16, 2014, 12:50:13 AM
Just a head's up; no newsletter this week.  Still dealing with irl issues beyond my control.

Should be back on track by the month end or shorter.
3  Other / Alternate cryptocurrencies / Re: Is LTC Dying? on: April 15, 2014, 05:11:27 AM
Coin reward is halving next year, whereas Bitcoin coin reward isn't.

As Bitcoin price went fairly berserk the year after its reward halved, I wouldn't be surprised if Litecoin did the same thing.

Look at this and set the scale from liner to log (bottom left button): http://bitinfocharts.com/comparison/price-btc-ltc.html

You'll see that Litecoin (and Peercoin) appear to behave in 8 month cycles with sharp increases in price followed by relative price stability,  We're approaching the end of one of these cycles at the end of this summer.

And I wouldn't be surprised... ASICs are coming en masse to restrict supply, plus block reward halving.
4  Bitcoin / Legal / Re: Canada ONLY: Taxes and law on: April 15, 2014, 05:05:48 AM
I will publish some simple software to calculate capital gains and income from mining soon, for both the US and Canada.  Hopefully it'll help someone, and someone will help me get bugs out of it.
5  Economy / Goods / Re: [WTS] Nazi dagger from World War 2 on: April 11, 2014, 06:31:34 PM
if that is legit you can post it on ebay
some other people who loves antiques might get interested in your stuff plus you can put it on auction and give it to the highest bidder
These aren't allowed on ebay
6  Economy / Speculation / Re: Survey time! Was 340 the final bottom? on: April 11, 2014, 04:08:25 PM
^^ You're right, it's almost 32

2011-06-08 00:00:00   23.9999   31.9099   22.2135   29.6   104925.16   2858820.38   27.25

http://bitcoincharts.com/charts/mtgoxUSD#tgSzm1g10zm2g25zv
7  Economy / Speculation / Re: Survey time! Was 340 the final bottom? on: April 11, 2014, 04:00:21 PM
In 2011, after the first major bubble, the price went from $35 to $2.  The corresponding drop from the peak of $1,200 would be $68.57, but it's likely that the trough will be higher this time due to more widespread knowledge of cryptocurrencies.
8  Economy / Speculation / Re: tax crash scam on: April 11, 2014, 02:28:41 AM
^^ Yes.  The only people right now who would do this would have to have bought in above the current price to be able to claim losses.

Of course with the US the way it is for capital gains (<12 months held means you pay double taxes because they're short term capital gains), even people who lost substantially will be cautious about selling now if they believe the price will eventually rise, because you reset the capital gains counter on your coins if you do that.
9  Economy / Speculation / Re: BITCOIN is at USD $350 on: April 11, 2014, 12:59:47 AM
Um why is everyone in that position being dumb!?  Its called an extension or even an extended payment plan - I would hold out as long as I could and delay payments till the position doubled or tripled its current value - that being said, I can't necessarily do the same thing for rent so Im excited to see what happens on the 17th when everyone buys back in (fingers crossed)

They're not.  Even if you ask for an extension, you still have to pay ALL of your estimated liabilities on the 15th.  If you're found to have overpaid after you formally file later, you'll get refunded.  If you underpay, you need to pay heavy penalties on what you've yet to pay.

You can get an extended payment plan if you've already filed and everything is in order, but as the IRS only just released their notice a month ago probably few people have done so.
10  Economy / Speculation / Re: BITCOIN is at USD $350 on: April 11, 2014, 12:49:23 AM
capital gains is favorable to short term gains.  If anything they would wait then sell it.  Unless its a loss then they want to take losses short term

If you need money to pay the IRS, it doesn't really matter -- late penalties are worse than what you'll be facing in short/long term capital gains tax.  If you made money in 2013 on capital gains, it needs to be paid to the IRS now.
11  Economy / Speculation / Re: BITCOIN is at USD $350 on: April 11, 2014, 12:43:28 AM
No surprises here.

US income and capital gains tax is due on Tuesday for individuals.

Anyone buying or selling in 2013 has to pay it -- which means that there's tens or hundreds of millions of dollars in tax money the IRS is waiting for.  Those USD have to come from somewhere, so everyone is liquidating while they still can if they have suspected tax bills coming up.

Probably April 14th or 15th will be the best day to buy Bitcoins in recent history.
12  Other / Alternate cryptocurrencies / Re: Security flaw found in almost all crypto related software on: April 09, 2014, 02:55:53 AM
It apparently lets attackers get dumps of 64k of memory at a time.

It wasn't clear whether that memory is limited to memory assigned that process or memory accessible by the user running the process.

If sshd runs as root maybe all RAM on the entire machine can be dumped?

If so all code running on a machine that has an effected ssh daemon is presumably wide open to having its RAM dumped thus any secrets it contains discovered.

So it might not matter whether a specific program uses OpenSSL but rather whether something remotely connectable to such as an ssh daemon uses it.

-MarkM-


ssh isn't vulnerable
http://security.stackexchange.com/questions/55076/what-should-a-website-operator-do-about-the-heartbleed-openssl-exploit

but you should maybe regenerate your key pairs in case a server using openssl somehow leaked them
13  Other / Mining (Altcoins) / Re: GUIMiner-scrypt: A GUIMiner fork for mining scrypt chains on: April 03, 2014, 02:46:31 PM
Hi Taco!
Glad to hear from you!

Okey no problem, just keep them coming! Smiley

Another bug to add for the fix...
Sometimes, if you stop a miner that was runing at 20 intensity, and change it to less intensity (ex: 13, 14, 15), and then stop. And save and restart the miner again at 20 intensity, the GUIMiner will cause the driver to crash.
Even after the recovery, the miner will not recover, giving very slow performance and cannot start at full speed at any intensity setting.
Maybe there is a way to recover the miner... my "fix" is to stop everything and reboot the machine...

Best Regards,

LPC

This is a known bug and is an issue with cgminer I'm pretty sure.  I'm not sure what to do about it.  Usually if you do to "Device Manager" and disable and then re-enable the video card you can also use it again.
14  Other / Mining (Altcoins) / Re: GUIMiner-scrypt: A GUIMiner fork for mining scrypt chains on: April 03, 2014, 02:44:27 PM
what would be a good TC value? how would one determine an optimal TC??

for 7xxx or 2xx cards
with GPU threads = 1 it's usually ~12-13 * number_of_shaders
with GPU threads = 2 it's usually  ~4 * number_of_shaders
15  Other / Alternate cryptocurrencies / Re: MC2: A cryptocurrency based on a hybrid PoW/PoS system on: April 03, 2014, 03:31:05 AM
Well it be ASIC resistant?
Depends on what the demand is for that at launch.
16  Other / Alternate cryptocurrencies / Re: Security analysis of PoW/PoS hybrids with low PoW reward on: April 02, 2014, 04:01:39 PM
Is there a projected release date or is it totally experimental? 

Hopefully testnet within 2-5 months or so, then mainchain launch after the testnet seems stable.
17  Other / Announcements (Altcoins) / Re: [ANN] BlackCoin (BC) | on exchanges | PoS | No premine on: April 02, 2014, 03:59:33 PM
rat4 wrote you that for those atacks BC POS is not valuable how many times he need wrote the same ?

Writing that you don't think attack vectors exist does not mean that attack vectors do not actually exist.  Replies of "that will not happen" are denials of the rich conceptual history and well noted theoretical problems of proof-of-stake systems.
18  Other / Announcements (Altcoins) / Re: [ANN] BlackCoin (BC) | on exchanges | PoS | No premine on: April 02, 2014, 03:50:33 PM

Umm you were here 9 months ago saying PPCoin is doomed, it's flawed etc.

Made lots of noise about it.

Nothing happened.  Smiley

Nothing needs to happen as long as PoW is chugging along -- but then it's just another PoW coin.  The PoS system it is eventually supposed to become as reward goes to 0 is deeply flawed.

I would anticipate BlackCoin to demonstrate this, and eventually leave rat4 scrambling to apply patch after patch as the system breaks in new and exciting ways.
19  Other / Announcements (Altcoins) / Re: [ANN] BlackCoin (BC) | on exchanges | PoS | No premine on: April 02, 2014, 03:49:22 PM
Quote
Hence my 'Purely from a PoW/Pos Hybrid perspective'.

I understand there are some PoS issues which clearly you have a greater understanding of than 99.9% of the people on this thread, myself included. I hope these can be addressed appropriately, and as an onlooker and potential investor of any coin am keeping my eye on it. Can't devs/code gurus get together and whittle down the actual issues together? Isn't that what open source is all about?

Well, yes, but the issue is a severe one and not easily fixed.  Greg Maxwell (the bitcoin core dev whose IQ is probably above 180) couldn't figure it out after spending months trying, Vitalik Buterin (an Honour's student in maths who dropped out of the University of Waterloo to work on Ethereum) is also now struggling very hard with how to solve the issue with his Slasher algorithm, etc...  Pure PoS is a *very* hard problem to solve effectively, and the only reasonable solutions for pure PoS are coming in a soon to be published scientific paper I'm not really at liberty to talk about.  The first author of that paper is even a little wary about what he's proposed, though.
20  Other / Alternate cryptocurrencies / Re: Security analysis of PoW/PoS hybrids with low PoW reward on: April 02, 2014, 03:42:41 PM
Hi Tacotime, thanks for the information! I notice you have an ad in your signature that describes a PoS/PoW hybrid.

Have you been able to resolve the issue with that coin?

It's a very different system; basically PoS miners vote on every PoW block to verify the contents, and PoW blocks are validated one block at a time.  PoS miners are given complete control over the contents of PoW blocks and whether or not the PoW miner gets rewards.

This is a *really* experimental incentives system and it might do crazy things yet.  The Bitcoin core devs I've talked to are wary of it doing things I haven't predicted.  Additionally, it relies heavily on PoW (which I think is a good and reasonably fair distribution system).  But it does not have the "nothing at stake" forking issue.

It's more comparable to a blockchain with "two factor authentication" for every PoW block, to ensure that miners aren't putting weird transactions into the network or are simply not including transactions.
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