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1301  Other / Beginners & Help / Re: Where to promote my service? on: April 04, 2013, 09:05:35 AM
For the wiki page https://en.bitcoin.it/wiki/Trade, I have no idea how to put my link on it. Does anyone could help?

The Bitcoin.it wiki uses a bitcoin validation method (send bitcoin to the address for your username) to protect against spammers:

If you didn't want to sign up there, I've added your service:

 -  http://en.bitcoin.it/wiki/Trade#Cloud_Providers_and_Services
1302  Bitcoin / Project Development / Re: Wiki governance on: April 04, 2013, 08:13:18 AM
I think that 99.9% of the disagreements should be resolved without admin powers or admins. I do think there is a place for admins and rules.

This Bitcoin.it wiki isn't just used for Bitcoin (the software), it is use for and by much of the Bitcoin ecosystem.  That includes third party services, tangentially related projects, and more.

Though the wiki has admins, the admins are frequently going to be less knowledgeable or interested in each particular article's subject.  

Let's take the Tonal bitcoin article.  That's Luke's baby.  He knows more about it, is the most motivated to maintain it, etc.    Therefore, I as an admin generally am going to defer to the domain-specific champion for that article.   If that person feels there is trolling and wants to clean it up I don't want some "wiki governance policy" telling me that removal is prohibited and that I as admin can't just let Luke deal with it.    If he thinks gibberish should be purged on that discussion page for that specific topic, then I'll support Luke with that decision.   Either way, it is inert -- nobody is harmed or misled by the content on the Tonal bitcoin article so I as admin am comfortable letting that be with no intervention as an admin.

Now for topics which are directly related to the Bitcoin-Qt/bitcoin client, Bitcoin protocol or other Bitcoin-project specific areas then having some rules could become necessary, I suppose.  The odd thing is, for those there's almost never been edit wars, incessant trolling, ego trips, etc.    So that's why even without governance there's never been much of a need for administrator intervention with those.

1303  Bitcoin / Development & Technical Discussion / Re: Bandwidth usage as of late on: April 04, 2013, 06:30:03 AM
Anyone else notice a increase of upload usage?  Example, on April first, my node uploaded about 10GB. I also keep getting little system hangs, maybe a few time a hour.

There are a lot of new users arriving, downloading the blockchain.  That puts additional traffic on each peer, especially if [edit: and only if] it is configured to accept incoming connections.
1304  Other / Beginners & Help / Re: Bitinsant - possible to send bitcoins from btce to mtgox? on: April 04, 2013, 03:25:58 AM
Right, I want to send bitcoins from btc-e to mtgox.

BitInstant sends USDs not Bitcoins.  

I'm guessing you are hoping to take bitcoins from BTC-E and sell them at Mt. Gox where the exchange rate is higher, and then I'm guessing you don't want to wait for the six confirmations that the transfer will take.

This is a common trade, and is easy.  You simply want to sell your coins over-the-counter to someone who will pay you a MTGOX USD redeemable code.

The problem with that is you would be asked to send first and you would only want to transact in this manner with someone who can be trusted. The #Bitcoin-otc marketplace provides a Web of Trust (WoT) which gives a trust history so if you find a trading partner willing to offer this you can see that party's trust history.  You might be able to find a counterparty by placing an offer on the #bitcoin-otc marketplace IRC channel.

e.g.,
  SELL 10.0 BTC at "{mtgoxbid}" MTGUSD "MtGox Redeemable Code.  Adequate trust required."

If you want this trade to happen right away, offer a premium:

For example, to offer to sell with a 4% premium (e.g.,, at 96% of the spot price), you would enter the order as:
  SELL 10.0 BTC at "{mtgoxbid}*.96" MTGUSD "MtGox Redeemable Code.  Adequate trust required."

There might already be an order there from someone with MTGUSDs looking to buy your coins.

Or announce your request in the #bitcoin-otc channel, and someone will be likely be interested.

 - http://webchat.freenode.net/?channels=#bitcoin-otc-foyer
 - http://bitcoin-otc.com
 - http://bitcoin-otc.com/viewratings.php

There's a bit of a curve to getting up and running with GPG and registering with the IRC bot gribble, but the effort is worth it if you will be doing these types of trades in the future.
1305  Other / Beginners & Help / Re: Bitcoin-QT Ophaned Transactions on: April 04, 2013, 01:45:12 AM
Simple question -- If a transaction remains as 0/unconfirmed for long enough in the Bitcoin-QT wallet, will it eventually delete and return the money to my BTC balance? Huh

If your client sent the funds, no ... never, at least not automatically.

Other nodes will eventually push that transaction out of the way to make room in the memory pool for more recently received transactions.  At the same time, your client will sporadically (e.g., at least once an hour) notice that the transaction has not confirmed and will re-broadcast the transaction to its peers.  Those other nodes that have pushed the transaction out will re-learn of the transaction when it gets re-broadcast.
1306  Other / Beginners & Help / Re: Absolute cheapest way to sell/buy bitcoins in the U.S. on: April 04, 2013, 01:10:42 AM
I wish to find the cheapest method of selling and buying bitcoins, with the lowest fees, any ideas?


The factors that matter are:

 - Where are you (country)?
 - How much are you looking to by?
 - What payment methods can you use?
 - How soon do you need the bitcoins?
 - Is privacy / near-anonymity important?

Only once those are known can recommendations be made.

In the U.S., Coinbase works for many.  1% fee, though they are out of inventory frequently.  Other times there's no guarantee that your order won't get canceled.

A fairly comprehensive list of methods exist on the Bitcoin wiki:
 - http://en.bitcoin.it/wiki/Buying_bitcoins
1307  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.
1308  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
1309  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
1310  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.
1311  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.
1312  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
1313  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
1314  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:

1315  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.
1316  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.
1317  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
1318  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.
1319  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.
1320  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?
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