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1201  Other / Beginners & Help / Re: Can you add a fee to a transfer AFTER you have sent it out? on: April 04, 2013, 12:57:22 AM
AFAIK it's too late to change anything about that TX.

At some point a feature that was developed might be included in a release such that if the recipient of the funds wants to help a transaction get confirmed there is a way to help nudge it -- by spending the received funds and including a fee.    That way for the miner goes for the transaction with the fee but has to include the parent transaction that hadn't confirmed.

So there's solutions, just nothing running today.
1202  Other / Beginners & Help / Re: How To Buy Large Quantity???? on: April 04, 2013, 12:48:35 AM
I want to buy between $5k and $10k worth of bitcoin, like yesterday.

Bank wire to an exchange will be your most economical.

Mt. Gox lets you do that, though for some amount they'll want you to verify your accoutn:

BITSTAMP is another.

And there are many more:
 - http://en.bitcoin.it/wiki/Buying_bitcoins

You could try also doing a transfer from Coinbase.

You might find someone local willing to trade.

Try multiple paths, including a local buy perhaps:

 - http://www.LocalBitcoins.com
1203  Bitcoin / Press / Re: NEW articles in Press Forum on: April 04, 2013, 12:28:13 AM
2013-04-03 Felix Salmon - The Bitcoin Bubble and the Future of Currency
https://bitcointalk.org/index.php?topic=166154.0
1204  Bitcoin / Press / Re: 2013-04-03 Felix Salmon - The Bitcoin Bubble and the Future of Currency on: April 04, 2013, 12:26:31 AM
Quote
Even now, at the top of a huge bubble, the total value of all the bitcoins in existence is the equivalent of about 2,000 standard gold bars -- not remotely enough to revolutionize the global payments and currency systems as we know them.

The problem is slippage for large payments.

Just about 24 months ago there was a flurry of suggestions for the person wanting to buy $100K of bitcoins and be able to do so without losing a ton to slippage.  Today slippage for that amount is just a fraction of a percent maybe if it gets spread out over a few hours.

So is bitcoin ready for multiple $10M transfers?   Not today.   But extrapolating the trend and that day that it could is not really all that far out there.
1205  Economy / Gambling / Re: mem's BITCOIN GAMBLING LIST on: April 03, 2013, 05:41:30 AM
Please remove BitLotto from the list.

The site didn't pay out the March winner and it is still taking wagers for the April 5 lotto.

The last contact was from the (delayed) announcement of the March winner:
 - http://bitcointalk.org/index.php?topic=34007.msg1596717#msg1596717

but no payout occurred and there has been no response to inquiries.
1206  Economy / Trading Discussion / Re: Why are UK bitcoin buying options disappearing on: April 03, 2013, 05:27:02 AM
I have used Transferwise 3 times to move funds to MTGOX: GBP to EUR SEPA. Both Transferwise & MTGOX are totally aware and happy with each other.

I wonder if it matters if your Mt. Gox account is verified or not.  So just to clarify you are moving EUR via SEPA to Mt. Gox (bank in Poland).  And your account is verified status (AML Level 1)?
 - https://support.mtgox.com/entries/20919111-AML-Account-Statuses
1207  Bitcoin / Press / Re: NEW articles in Press Forum on: April 03, 2013, 05:21:04 AM
2013-04-02 New Yorker, The Future of Bitcoin: The Bitcoin Boom
https://bitcointalk.org/index.php?topic=164977.0
1208  Other / Beginners & Help / Re: Need some recommendations for a UK resident on: April 02, 2013, 07:32:54 PM
Can someone recommend a good site / exchange that I can use bank transfers from the UK to that is low rate and trustworthy please ?

Bitbargain.co.uk has a few methods:
 - https://bitbargain.co.uk

Bitcoin Fridge re-opens on April 6th:
 - http://www.BitcoinFridge.co.uk

But since UK banks don't like Bitcoin, you should not like UK banks.  Convert your GBPs to EURs through Transferwise or CurrencyFair and then fund your exchange account that way:

Which exchanges allow me to transfer funds from my TransferWise account?
 - http://bitcoin.stackexchange.com/questions/8149
 - http://www.reddit.com/r/BitcoinUK/comments/1b8rug

And then:

1209  Bitcoin / Project Development / Re: Bitcoin + Vending Machines Proposal on: April 02, 2013, 07:23:49 PM
what about the time it takes to confirm bitcoin transactions for something like a vending machine?

Just make sure it is uneconomic to attack.

The Finney attack is nearly 100% successful but it costs $4 per second to pull off.  So for anything sold worth more than $20, make sure to delay it a few seconds. 

A race attack isn't guaranteed to succeed (maybe one out of 40 attempts would succeed), but it is cheap to attempt.  But if I end up with 39 frozen burritos just to get the 40th one to spit out "for free", I'm not going to try.

Now let's say there is a change machine that converts bitcoins to quarters at a laundromat, with no fee.  An attacker could sit there all day and profit from the successful attempts and break even on all the unsuccessful attempts.  So that's not a good candidate for 0/unconfirmed transactions.
1210  Other / Beginners & Help / Re: Circulated or Hoarded? on: April 02, 2013, 07:07:04 PM
Do you think BitCoins are being spent or are the vast majority of them being hoarded?

Neither.  Most are purchased and saved.   They are being saved to pay for future consumption.   Or as a simply speculative buy.

That is not hoarding.  

That also isn't necessarily a problem.

If bitcoins were not divisible, and there were only 11 million that could exist, then you'ld have a problem.

But instead of paying 1.0 BTC for a quick meal I now pay 0.1 BTC for it, the higher valuation doesn't limit me from being able to use them for my spending.

Because I can acquire more coins easily (with a bank transfer, sent to an exchange, for the cost of $0.25 per transaction using Dwolla, then 0.6% at my exchange) I'm not worried about using my coins for my spending.

But volatility is not good for a currency, so where a problem is introduced is when the exchange rate stops rising and those speculating on bitcoins start to dump.  Each sell puts downward pressure on the exchange rate which incents others to sell.

So that's why bitcoins need to circulate as part of commerce using the coins as a currency rather than just seeing Bitcoin used as a trading vehicle for speculators.
1211  Bitcoin / Bitcoin Discussion / Re: Allison, can you explain what a bitcoin is? on: April 02, 2013, 06:55:58 PM
Here's the Bitcoin equivalent:

 - http://video.cnbc.com/gallery/?play=1&video=3000158264

 - http://www.reddit.com/r/Bitcoin/comments/1biptm
1212  Other / Beginners & Help / Re: Amount of confirmations needed---changed? on: April 02, 2013, 05:46:20 PM
where did the original 6 confirmations needed come from anyway?!
is it just an arbitrary number?

From the wiki:

Quote
Merchants and exchanges who accept bitcoins as payment can set their own threshold as to how many confirmations are required until funds can be considered valid. When potential loss due to double spending as nominal, as with very inexpensive or non-fungible items, payments can be considered confirmed as soon as it is seen on the network.
- http://en.bitcoin.it/wiki/Confirmation

A digital currency exchange that sends out non-reversible funds when there is no recourse (i.e., withdrawn by an anonymous user) should not be considering anything less than 6 confirmations, in my opinion.

Of course, those funds in their wallet are not theirs (as they are customer's funds), so they can  be careless without exposing themselves to the risk.
1213  Bitcoin / Press / Re: 2013-04-02 New Yorker, The Future of Bitcoin: The Bitcoin Boom on: April 02, 2013, 05:25:42 PM
Suprisingly good and well researched article.

+1

I learned something new from it too ...

Quote
The name Casascius came from the acronym for “call a spade a spade,” with a vaguely Latinized suffix.

Back when first trying to remember how to spell it I broke it apart thinking maybe it was Casa Sci US  (house of science, U.S.).  I was way off.
1214  Other / Beginners & Help / Re: California Bitcoin Group - BTC and Bitcoins for CA on: April 02, 2013, 04:47:20 PM
locally advertised!

locally? 

Which of the 163,707 square miles California encompasses do you consider local?
1215  Other / Beginners & Help / Re: How do we buy bitcoin in the UK now they removed pingit and UKBT on: April 02, 2013, 04:17:46 PM
please I really need to get more coin.

UK banks don't like Bitcoin.

So leave the GBP behind -- using Transferwise, or Currencyfair to get EUR.  Here's another thread on it:

Your best bet is to use www.transferwise.com to convert and move GBP to MTGOX SEPA EUR account, and trade in EUR.

I've seen where Mt. Gox only accepts bank transfers if it comes from your own account (and not a commercial account like Transferwise).  Are you able to perform this SEPA transfer method from Transferwise to Mt. Gox and they take it?    With SEPA transfer to BITSTAMP I've not read about anyone claiming the same restriction.

Which exchanges allow me to transfer funds from my TransferWise account?
 - http://bitcoin.stackexchange.com/questions/8149

1216  Other / Beginners & Help / Re: Bitcoin-QT not showing transaction on: April 02, 2013, 04:13:40 PM
It is showing on blockhain.info - so why oh why is it not on Bitcoin-QT?

Should I start using a different Bitcoin client? Any recommendations?

When a transaction gets broadcast, that transaction gets relayed to most every peer node.  If your client was not running at the time, it might not know of the transaction because it wasn't online when the broadcast happened.   Eventually the transaction will likely get included in a block and then your node will see it.  Or the original client that sent it can re-broadcast it.  If the sender was using the bitcoin-Qt/bitcoind client then that will notice the transaction is not yet in a block and eventually will re-broadcast it (generally within about a half hour).

So if it is showing on blockchain.info then just hang tight.   Leave your client running so it won't miss a re-broadcast if you want the warm-fuzzy from seeing the 0/unconfirmed transaction in your list of transactions.
1217  Economy / Trading Discussion / Re: Why are UK bitcoin buying options disappearing on: April 02, 2013, 04:06:39 PM
Back to the point though, why are exchanger UK accounts being shut down? Why is it so hard/expensive to get bitcoin in UK when it has a relatively higher adoption rate than some other countries?

I think it is safe to assume no banks in the UK will work with any Bitcoin exchanges.  Any agreements to do so have a half-life measured in weeks.
1218  Economy / Trading Discussion / Re: Why are UK bitcoin buying options disappearing on: April 02, 2013, 04:01:56 PM
Your best bet is to use www.transferwise.com to convert and move GBP to MTGOX SEPA EUR account, and trade in EUR.

I've seen where Mt. Gox only accepts bank transfers if it comes from your own account (and not a commercial account like Transferwise).  Are you able to perform this SEPA transfer method from Transferwise to Mt. Gox and they take it?    With SEPA transfer to BITSTAMP I've not read about anyone claiming the same restriction.

Which exchanges allow me to transfer funds from my TransferWise account?
 - http://bitcoin.stackexchange.com/questions/8149

Also, other methods include:

Bitbargain.co.uk has a few methods:
 - https://bitbargain.co.uk

Bitcoin Fridge re-opens on April 6th:
 - http://www.BitcoinFridge.co.uk
1219  Other / Beginners & Help / Re: What are private keys? on: April 02, 2013, 08:08:01 AM
Okay, can you give me an example of a transaction, break it down slowly >.<

Here's what the data for one looks like:

Code:
Input:
Previous tx: f5d8ee39a430901c91a5917b9f2dc19d6d1a0e9cea205b009ca73dd04470b9a6
Index: 0
scriptSig: 304502206e21798a42fae0e854281abd38bacd1aeed3ee3738d9e1446618c4571d10
90db022100e2ac980643b0b82c0e88ffdfec6b64e3e6ba35e7ba5fdd7d5d6cc8d25c6b241501

Output:
Value: 5000000000
scriptPubKey: OP_DUP OP_HASH160 404371705fa9bd789a2fcd52d2c580b65d35549d
OP_EQUALVERIFY OP_CHECKSIG

 - http://en.bitcoin.it/wiki/Transaction#Principle_example_of_a_Bitcoin_transaction_with_1_input_and_1_output_only

And here's what one looks like in a nice viewer:

 - http://blockchain.info/tx/74aa359a7f007ec120bb0fbbb747797e1ded08bdcffeddce4e5ede5b1a40be5a?show_adv=true
(at the bottom click Advanced to see the link to get to the UTXO for the INPUT transactions)
1220  Bitcoin / Technical Support / Re: bitcoin address algorithm on: April 02, 2013, 08:01:12 AM
I tried reverse engineering bitaddress.org, but their structure was a little too confusing for me.

Brain Wallet:

Private key = sha256(passphrase)
 - http://en.bitcoin.it/wiki/Brainwallet

Then this:

How can I convert a SHA256 hash into a Bitcoin base58 private key?
 - http://bitcoin.stackexchange.com/a/8249/153
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