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1021  Bitcoin / Press / 2013-05-04 - Living On Bitcoin For A Week: Bitcoiners Are The New Veg on: May 05, 2013, 02:40:57 AM
Day 4 of Kashmir Hill's series.

Living On Bitcoin For A Week: Bitcoiners Are The New Vegans

1022  Bitcoin / Bitcoin Discussion / Re: Specialized hardware and the "nuclear option" for >50% attacks on: May 04, 2013, 01:54:17 PM
a mining algorithm friendly to general purpose hardware is superior because it is more inclusive to "the masses",


When nearly all mining was GPUs, most of that was for people who buying GPUs specifically for dedicated mining rigs.    So even though it was off the shelf hardware, it still was an up-front investment in hardware.

The thing about ASICs is that there is little gain as you scale up.   A 5.5 Ghash/s Jalapeno is about 1/10th the price of a 60 Ghashs/s ASIC.    This means there's not much of an economy of scale as you move up to larger and more powerful hardware.  

The bigger reasons that will determine who mines and who doesn't will have to do with access to capital, but eventually, those with access to cheap electricity.  Currently that electricity consumption is a non-issue because ASIC mining profitability is so high yet (revenue relative to cost of electricity) that it will be another year or so before differences in the cost of electricity will resume to being a factor as to where you would host your rigs.)
1023  Bitcoin / Bitcoin Technical Support / Re: BTC transaction not confirming. is this normal on: May 04, 2013, 01:22:36 PM
It's been like this with 0 confirms for about 20 minutes

Incidentally, no fee was paid.    I don't think it mattered with this last transaction because no blocks occurred for about a half hour before your transaction got confirmed, so it appears your transaction was included in the first block following when your transaction was broadcast.

But normal variance can cause longer delays between blocks.  Around once every two days there is an hour between blocks (on average, when hashing capacity is near the target).
1024  Other / Politics & Society / Re: U.S. CrowdFunding Bill on: May 04, 2013, 12:00:45 PM
someone tell me what this crowdfunding bill meant

There were a lot of facets to the bill.  The ones specific to crowdfunding allow a company to go through a crowdfunding portal to raise capital from non-accredited investors.  Accredited investors are those with significant net work and income (e.g., $1 million net worth, not including a home).

Currently there are a lot of projects raising money through Kickstarter.  There was the hope that the JOBS act would allow that type of project to be launched in which equity in the project would be owned by supporters.  That is not what the JOBS Act will do however.   There still will be a significant up-front investment to be able to offer equity through a crowdfunding portal.   

Exactly what will be required though is still being worked out by the SEC, with the details now delayed until much later this year.

Now we know first-hand both the risks and rewards from equity crowdfunding thanks to the now-defunct GLBSE, and thanks to a few other cyber-equity stock markets.  We know that scammers are attracted to this (e.g. a very long list)but also that incredibly profitable ventures can be the result as well (e.g., ASICMINER and SatoshiDICE).   

But we'll never see these types of exchanges be compliant with U.S. securities law, even after the JOBS act rulemaking is completed

So that doesn't really tell you a whole lot about what the crowdfunding bill is, but it does tell you what it isn't.
1025  Bitcoin / Bitcoin Discussion / Re: Offline Paper Wallet Creator - Raspberry Pi? on: May 04, 2013, 02:22:41 AM
Sorry for Necrothread, but this device is being developed:

Piper - A hardware-based paper wallet printer and so much more
1026  Bitcoin / Project Development / Re: [ANN] Piper - A hardware-based paper wallet printer and so much more on: May 04, 2013, 02:21:23 AM

From a prior post inquiring about creating this exact type of device:

Thermal resin (uses paper + ribbon) will last "forever".  The resin will likely last longer than the paper.
Thermal (uses only chemically treated paper with no ribbon) will be unreadable in a matter of months (days if exposed to higher temps).

Some printers can do both, some can only do one or the other.

So from your FAQ you show:

Currently, the image will last 3 years but we are in the process of acquiring bulk-quantites of specially coated, archive-quality paper to use with it which will last over 20 years.

What type of printer will you use?

I'm open to suggestions on what else the software should have.

Can this be powered from a USB port (i.e., made to be portable), or will it require power from an outlet?

Also, I'ld like the ability to print two (or more) copies.   

Additionally I'ld also like to see a time and date on the printout, or maybe just some type of sequential number (so I could easily navigate through a stack of these to  pull a specific one.)

1027  Bitcoin / Bitcoin Technical Support / Re: Old offline wallet.dat files on: May 03, 2013, 08:23:32 PM
I've created a few offline wallet.dat files back in summer of 2011. I've been adding coins to them (through pools) since then but I've never used them online with any bitcoin clients.

Am I safe? Am I able to access the coins later on for use? Or should I be regularly resyncing the wallets, even if I'm not spending the coins?

The Bitcoin client back then didn't have passphrase encryption, so that means you want to be very careful with that wallet.dat.

Some might suggest using an offline computer and bringing over a more recent Bitcoin-Qt client to do the passphrase encryption before taking that wallet.dat over to another, connected computer.   

Or to use Armory on the offline computer which provides a secure method for spending.
1028  Bitcoin / Bitcoin Discussion / Re: Bitcoin Mining in 10 Years? on: May 03, 2013, 08:11:28 PM
Won't there be a lack of computer power to encrypt things

Just to clarify, ... miners don't encrypt anything.  They do use cryptography, but not encryption.
1029  Economy / Service Discussion / Re: Lost BTC while using Bitcoin Wallet for Android. on: May 03, 2013, 06:15:12 AM
  • Have bitcoin wallet give a warning when you import a backup. That you must backup again to have all your pools
  • Have the imported backup be the default pool.

Just to clarify, does not use any key pool like the Bitcoin-Qt client does.  

If you are using Quick Send, then the change goes to an existing address that should already have been in the backup if you described the sequence of events correctly.

If instead you used Custom transaction and chose "New Address" for change, then yes -- you need to make a new backup after every one of those transactions. has a configuration setting for your account to allow "Automatic Email Backups" to be sent.

[Edit: The reported issue was with Bitcoin Wallet for Android by Andreas Schildbach, not wallet, ... somehow I mixed the two up and gave a response that has nothing to do with the question asked, sorry.]
1030  Bitcoin / Bitcoin Technical Support / Re: Transaction sent 12 hours ago still nothing on on: May 03, 2013, 12:23:44 AM
Are you saying they are being broadcast to the network before it has reached sync?  If so, is this from the Bitcoin-Qt or sent via API with bitcoind?

Yes - and this can be done with bitcoin-qt as well. Assuming you don't have a copy of the wallet on another computer then there is no problem doing this as tx you make are stored in your wallet (so it won't try and spend the UTXOs again).

Ok, just so that there is no confusion here.

Obviously, if you copy your private keys from Bitcoin-Qt and broadcast a transaction from another client then that transaction will be seen in without the local Bitcoin-Qt being sync'd.

But what I'm asking about is if you have the Bitcoin-Qt client and it is not currently sync'd, but then create a new spend transaction.  Are you claiming that the transaction is then broadcast to the network immediately ... before sync is attained?   That's different behavior than I remember seeing before.    It should only take someone two minutes to observe the behavior, but at this moment I personally am using a system on which I cannot install Bitcoin-Qt/bitcoind so if someone could verify and pipe in that would help.

[Edit: I'm specifically referring to DEFAULT behavior of the Bitcoin-Qt client, and not a command line/API transaction.]
1031  Bitcoin / Press / Re: BitcoinATM Press Demo, San Diego CA May 2 2013 1PM on: April 30, 2013, 10:47:21 PM
If anyone from BitcoinATM wants to chat with Bitcoiners, an event downtown San Diego is this evening:
1032  Bitcoin / Bitcoin Technical Support / Re: Transaction sent 12 hours ago still nothing on on: April 30, 2013, 09:28:39 PM
I regularly send tx's when out of sync (with all versions of the client I have used) - where did this idea that you need to be in sync to send a tx come from?

Are you saying they are being broadcast to the network before it has reached sync?  If so, is this from the Bitcoin-Qt or sent via API with bitcoind?
1033  Bitcoin / Bitcoin Technical Support / Re: what to do ? 2.5 BTC lost forever? on: April 30, 2013, 08:25:28 PM
I've never ever in my life used send to many command, even dunno how to type  it properly

When Sending using the Bitcoin-QT client there is a green "+" for "Add Recipient" at the bottom.  But if that's not what you did then that doesn't explain it.
1034  Bitcoin / Bitcoin Technical Support / Re: Transaction Shows On blockchain - Nothing In Wallet. on: April 30, 2013, 08:12:12 PM
client is totally synced too.

If it shows confirmations on it definitely should be appearing with your Bitcoin-Qt client as well.

Try launching your client with -rescan.

1035  Bitcoin / Press / Re: 2013-04-30 Bitcoin’s Biggest Impact Could Be Changing How Others Build Products on: April 30, 2013, 07:08:05 PM

The question on Bitcoin was right at the end, about 24:15 in.

Gumroad uses Stripe so there was really only two companies interviewed -- Stripe which allows online merchants in a limited number of countries to accept payment cards for e-commerce payment, and PayPal.

Jon Matonis nailed it when (in one of his articles) he described Bitcoin as being the elephant in the room.   They simply are ignoring Bitcoin because, today, they can.

Bitcoin is doing what they can't afford to do due to them being hobbled by AML regulations.
1036  Bitcoin / Hardware / Re: Detailed projections of total ASIC shipments and effect on hashrate on: April 30, 2013, 02:00:50 PM
This is a fantastic compilation.  It shows how common expectations in the short run were overblown (we still aren't much more than 3X the difficulty from Jan 1st) but how in the long run we can't even imagine the capacity coming onboard.

I'd love feedback if folks have other data, corrections, alternate interpretations, etc:
For the "Days to recoup a 20 BTC expenditure on a 50gh rig:", ... that assumes you can still buy a 50 gh/s rig with 20 BTC.

1037  Bitcoin / Bitcoin Discussion / Re: MtGox owns the bitcoin name. on: April 30, 2013, 03:16:34 AM
It seems Mr. Karpeles (MtGox) has owned the name for a while now,

From another thread:

hey mr. karpeles please challenge me in court over this i'd love to show you how trademark law works
We registered the Bitcoin trademark to protect it and allow anyone to use Bitcoins without risking to be attacked by our Pascazi friends (or other people).

More people using Bitcoin freely is of course good for our business. Some US lawyer registering the trademark in various countries with plans to profit from the registration and not by allowing more people to use Bitcoin is bad for our business.

We didn't register the trademark for the purpose of preventing others from using the word Bitcoin, but to protect ourselves and our customers from people who have this kind of mindset.
1038  Bitcoin / Bitcoin Technical Support / Re: what to do ? 2.5 BTC lost forever? on: April 30, 2013, 03:12:33 AM
When I import it it's balance and transactions are the same as on this screen shot.

Here's the transaction:

It doesn't make sense that there are two transactions showing if you only sent the transaction to one address.   The Bitcoin-Qt client will send change to another address from your wallet but when it does that it will not show as a separate transaction because it is just change back to yourself.    In this instance, it looks like you created a multi-output transaction yourself (e..g, using the "Add Address" button and pasting a second address to send the 2.5 BTC to.)   If that wasn't something you had done then I'm stumped as to how this occurred.

1039  Economy / Service Discussion / Re: BitcoinATM Exchange? on: April 30, 2013, 01:44:38 AM
Any news or thoughts?

BitcoinATM is announcing its grand inauguration and launch press conference and reception. BitcoinATM will be unveiling its G6000 BitcoinATM at the Hotel Del Coronado in San Diego, CA on Thursday, May 2, 2013 at 1pm.

This is open to the press.  I'm sure there will be an article or two on it.
1040  Economy / Service Discussion / Re: Beware of Bitcoin Central on: April 30, 2013, 01:39:37 AM
When I tried to transfer the money, my bank called and asked me if I really wanted to do so, because they´re on my bank´s blacklist. So Bitcoin Central really must be scammers. they wouldn´t be on this list if they haven´t done something illegal/scamming.

Please don't make defaming remarks with no justification.  

Banks are blacklisting Bitcoin exchanges because the security model that banks employ is woefully inadequate so blacklisting Bitcoin exchanges is easier than dealing with the security issue that remains.(e.g., implementing two factor authentication as a requirement to make a bank transfer online).

Also, if you weren't aware, Bitcoin-Central is currently not accepting new deposits nor performing trading:

Last year they announced plans to integrate with a banking network partner for the exchange's EUR accounts.  
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