Yeah, 'under attack' by people who, in an expression of monumental ignorance, think that using one of the most powerful financial settlement systems ever devised makes sense as a means of buying their morning coffee. The level of ignorant self-centeredness necessary to think that some trivial and inconsequential bit of financial activity deserves to become a permanent part of the ledger that everyone supports and carries along forevermore is stunning.
Obviously logic is not going to break this cycle of delusion. Finally bumping up into the 1MB limit is necessary and way overdue.
I'm not going to be a jackass and pretend that I know Satoshi's thoughts and motivations, but I will observe that his 1 MB 'temporary hack' had the result of ensuring that we hit this moment in history at a time when the entire un-pruned and verifiable blockchain could still be packed around on a single and affordable storage device. If he/they foresaw this when making certain decisions I would not be surprised.
Sounds like you'd support higher fees more than a hard fork... I've always said BTC should become like gold an an altcoin or side chain should become the "spending" currency. |
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What will happen if the limit reached? And also is a big block size a problem? from a logical point of view, a queue list will be created, with those transactions, that were left out, to be introduced in the next second and so on, but this will lead to a queue position that, will get bigger everytime this happen This is actually a pretty decent way to attack bitcoin... :S... |
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From what I understand, as long as the wallet remains off-line it will be safe. But if it comes into contact with slightest of network, then it has every possibility of being hacked.
Not completely accurate. If it is encrypted the saftey concern is someone finding out your pass phrase. Assume your harddrive is constantly being viewed by others and if it is taken offline and back online all the information has been sent on. With this assumption the computer used to create the wallet must be offline and should never be online again. (it will cost you $15 for a cheap harddrive.. $15.. use ubuntu.. it's not expensive, the first go involves some learing but after that it is cake walk). So you create the wallet on the offline computer, burn the wallet ot a cd. Shut off the compter, remove the harddrive, decimate the harddrive. Copy that file onto your main computer, and then copy it everywhere. If someone gets your wallet you're fine unless you encrypted it with 1234566 or passwordpasswordpassword.. Don't use dumb pass phrases.. 20+ chars, no real words, special chars add.. ╜ for example  . |
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How do I know..
Sweet mother of god have you guys ever read a news paper?
I find it quite hilarious everyone goes on about security yet slacks on security measures.. THEN long be hold once a week "HELP ALL MY COINS ARE GONE"..
Why are you being lazy on security........ I hear The Bank Of America will take care of security for you if you are to lazy.
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I have never had a problem with a paper wallet. Why is this fear-mongering starting now? I even created them on live pc. Maybe I am just lucky... idk...
WHOA WHOA WHOA.. That is a bad plan man.. You haven't had an issue until BTC EXPLODES in value and you find out that is EXACTLY what the hackers were waiting for boom it's gone... I would be very nervious about my bitcoins if they were created on a harddrive that was connected to the web at the time or ever reconnected to the web.. One thing is certian the gov has your private keys 100%, do you trust the NSA? |
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Besides 20 MB blocks are talk of the past, it should be 8 MB with the correct calculations. There is more consensus or 4 or 8 MB blocks as this would give the network more time before other solutions are found.
Not quite, the next release of XT (in about a week) will increase the maximum block-size limit to 20MB which is the next step towards 20MB blocks. https://www.reddit.com/r/Bitcoin/comments/394fn1/mike_hearn_in_about_1_week_bitcoin_xt_will/Gavin Andresen: "A lot of people are pushing me to be more of a dictator (like Mike) ... that may be what has to happen with the block size. I may just have to throw my weight around and say this is what it's going to be. If you don't like it, find another project." https://www.youtube.com/watch?v=RIafZXRDH7w&feature=youtu.be&t=1672Slightly disturbing tone from Mr Andresen.... The opinions of the huge miners are the ones he should be going after... if 90% of the hashrate refuses to move, XT will never come to be. |
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Screw a printer burn them to a CD.
Factory burned cd's and dvds are a completely different process than ones you burn at home. Home burned CDs and DVDs are notoriously flaky and damage very easy. I lost huge amounts of data in the past because expensive archival quality dvds didn't last more than 1 year, let alone any cheap discs(which may be DOA or fail shortly after). It is a huge gamble with those items that depends upon the batch , brand, humidity and other environmental factors, ect... I have them on 10 CD's.. 10 jump drives.. an external harddrive.. physically printed. Encrypted with a +20 char pass.. Harddrive that was used to create them no longer exists and NEVER touched the web once. |
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Why in the shits of shits of shits are you reconnecting the Harddrive you created it on back to the net.
F
A
I
L
on an epic level.. epic beyond epic.
The harddrive used to create the wallet from bitaddress.org should never EVER EVER EVER touch the web again after you have encrypted the paper wallet.
EVER NEVER EVER EVER EVER AGAIN! EVER AGAIN.
So do continue with the assumption the harddrive which was used to encrypt the paper wallet using bitaddress.org will never touch the web again.
How does one break the encryption?
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Not sure what crappy advice you're getting here bro but please visit the following website - https://www.bitaddress.orgDisconnect from the internet when the page is loaded up, wiggle your mouse around randomly, type a few random characters into the text box, you should then generate a bitcoin paper wallet, you will have a public & private key. Can you see BIP38 Encryption? Type a passphrase in, remember this, you will need it to get your coins back onto an online/hardware wallet if/when you decide to in the future. Print a couple of copies, you now have a bitcoin paper wallet & can send your coins to the public address safely. I find this suggestion useful to create paper wallet My computer is 100 % protected and clean bcoz of my antivirus. If the harddrive you created your wallets on ever touches the internet again YOU ARE DOING IT WRONG.. The harddrive should be destroyed after creating the wallet.. |
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nope, I'm just scared to take loan for anything + for bitcoin loans is usually quite high interest..
Probably the interest rate of what things should be.. I have loaned money no need to loan it. BTCjam, 1 defaulter, 100% my fault I was greedy. I have made back all of it plus some. |
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NOW you are on to something sir... An 8% return and I better hurry... I see... You know the returns are pretty darn low for it to be a ponzi but still. |
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Austrian economics is nonsense. Money is a medium of exchange and nothing else.
In a place where most disagree and hate keynesian , I doubt you'll find much love. Also, no keynesian is moronic. |
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I received a rate schedule from a power provider.
There are two charges.
demand charge per kilowatt: $1.71
electric charge $.05 per Kwh
I have determined that "per hour" am doing about 5 kilowatts at the moment.
Can you tell me how I figure my monthly charge with that demand line?
Without the demand line I am figuring that my electric bill would be $180 a month. Is my math correct?
thank you in advance for your thoughts.
5 CENTS holy damn that is amazing!! 5 * .05 * 24 * 30 = $180 You are bang on. We are assuming 5KW draw 24/7. |
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Honestly just leave them outside and check the weather from time to time to make sure it will not rain.
The S3 and the PSU aren't worth that much to begin with.
You are better off leaving them outside then leaving them indoors turned off - which makes no money what so ever.
Every month that goes by is a huge risk of difficulty going higher or price going lower. Make the money now while you still can.
Anyway, isn't selling those miner on ebay is even better then running them with all those risk? Probably get a lot more back then the miner can mine for the whole life. IMO the point of mining is to further decenterlize the network and MOST IMPORTANTLY give you a "voice" of where bitcoin is headed. |
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Are you saying I am an alien?!?!
Cool lol.
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It's nice and cool and stuff ... But it's not gonna happen at least not while we are alive . It may happen after a lot of block halving reward and some huge exchange websites manipulation like what happened with MtGox (if it was the reason of the pump , not sure  ) .... You think in 50.. FIFTY YEARS bitcoin will only steadly increase with inflation.......? Really??? |
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Time..
If you can't hold for +15 years Bitcoin is NOT for you..
0 or hero are the ONLY possibilities for Bitcoin.
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Probably 2014 as the bear trend appears that it will continue until the halving then who knows what will happen.
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In my country, no normal people is allowed to have gun. So there's no need to worry. If my phone was stolen, I could just quickly recover it following Mycelium steps on their website.
My phone (Mycelium) store all the Bitcoin I have. I use it because it is easier to access. There is no need to open computer whenever I need them. Just in case, I might be storing some in my computer sometime later.
1. People not being allowed to carry or own a gun by law apsolutely does not mean that they wont have one. 2. It doesn't matter which client you use if you are forced at gunpoint to send ur coins. There's no recovery or chargeback when it's done. Read the topic, it's about a robbery, not a lost device with wallet. There was a story about a firefighter some time ago, that also had similar case; i thought people learned from his mistake and stopped making back alley transactions. I exchange person to person sometimes too, ofter with a nice sums of money, but it's always in an open public place, it's just the safest thing to do. You show that you have claimed balance, but don't unlock you wallet, they pay up, and then you send them coins; easy as that. If they don't like the terms, i walk away, and that's that. cheers This guy gets it!! UNlike most of the dumbass public.. God the average person is so fucking stupid.. The idea making it Illegal will 100% prevent it.. only a complete and utter fuck tard could think this. |
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I guess the question is:
What do you to, if someone asks you at gunpoint for all the Bitcoin you have on you or how to we prevent that?
At some point, robbers will know, that you most probably have a wallet on your phone.
The most reasonable answer in my opinion is: Don't have too much money on your phone.
Bingo. |
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