Presuming you are mining for the purpose of profit, then that's what's wrong with it.   There is none (unless, just like with Bitcoin mining, you pay well below average electric rates.)

At the current LTC/USD exchange rate of about $0.07, that means that the 28K LTC mined each day all together produce less than $2K USD per day.

From another thread:

You and I have differing opinions on what "close" is then.

Here are the last 10 blocks:

214657   48.711
214656   31.016
214655   133.286
214654   261.695
214653   15.265
214652   42.617
214651   36.039
214650   204.577
214649   3.489
214648   214.828

The average for these is about 100K.

And it appears to be approaching the rate of 300 transactions per block (about 43K transactions per-day). 
 - http://blockchain.info/charts/n-transactions-per-block?timespan=180days&daysAverageString=7

This is a transaction every two seconds.

A lot of these are microtransactions (e.g., under a dollar's worth of coins) used for wagering, so the blockchain already has a way of limiting those:

- http://en.bitcoin.it/wiki/Transaction_fees

But twelve months ago no SatoshiDICE existed and nobody knows what 2013's breakaway Bitcoin success story will be but what if there are four of them, each as popular as SatoshiDICE is today.    Then the blockchain size limit (at the current restrictions) will be reached.

I see.  Since the bet deadline is always at least one day prior to the event date, there was no reason to change it because the event date did not change -- the reference market was trading on December 31st.   So it doesn't seem justified for the deadline to have changed in this instance.

This is an ASIC created for bitcoin mining.  One of these hashes at about half the level of what an AMD 7970 does:




 - http://mineforeman.com/2012/12/28/asicminer-the-dark-horse-in-the-bitcoin-asic-race-may-have-just-come-in-first

They were beta-testing an on-line bank transfer method that was available in a number of countries but then they removed that option.   They didn't yet support MoneyGram from the EU as far as I know.

I see that UKash is available in Switzerland.  That can be used for purchasing bitcoins from VirWoX, BitcoinNordic, and Mercabit.eu.  The rate isn't that great but it is one method.

There are also many, many sellers who will sell bitcoins to you face-to-face:
 - http://localbitcoins.com/country/ch

If you must do MoneyGram, then WM-Center and ECurrencyZone are two of these exchanges that do this:
 - http://en.bitcoin.it/wiki/WM-Center
 - http://en.bitcoin.it/wiki/ECurrencyZone

There may be other methods that work for you as well:
 - http://en.bitcoin.it/wiki/Buying_bitcoins

I can't see how Dwolla would know nor care where the funds deposited to your bank account came from before they pull them to your Dwolla account.


There is only one exchange in the U.S. that still has an anonymous cash-deposit-at-a-bank method.  After depositing cash at a Chase bank into BitMe's account, those funds get credited to the person's BitMe exchange account.   But then those funds are used to satisfy ACH withdrawals so the exchange doesn't need to get those funds to an exchange to "restock".
 - http://www.BitMe.com

There is a bulk buyer who will accept cash deposits of large amounts ($1,000 or more) at B of A, Wells Fargo, or PNC Bank, though they currently are not accepting new clients:
 - http://bitcointalk.org/index.php?topic=87094.0

What they do (very well) is hold a large chunk of funds in reserve so that they can meet daily demand while funds from previous sales are flowing through the bank system.  For example, cash deposits at Wells Fargo might be sent as an ACH transaction to their B of A account which is then used for their payments.  So performing proper cash management is the approach they use to accommodate the delay between when a transaction is initiated and when those funds are available for use at the proper destination.

Perhaps I don't wish for my PayPal account to be used for this.  Would you accept bitcoins?

+1


This person sold four under a unique approach.  I don't see further sales, so I'm presuming it didn't end well:
 - http://www.ebay.com/itm/320981224642

How what happened?

If you are not familiar with how PayPal operates, they will often place a payment received "on hold" and the reasons vary.  Sometimes they release the funds days later, and other times they don't.

But now you are on PayPal's radar.  If they haven't freezed your PayPal account (and any funds you had not yet withdrawn), it is just a matter of time before they do.

It is pretty clear:


That was written SPECIFICALLY with bitcoin in mind.

They can't know that a transfer between two people was for the exchange of baseball cards or bitcoins, so it happens that people successfully trade bitcoins for Dwolla and vice-versa.    But when Dwolla figures it out (it aint that hard to do), they have the absolute right to no longer provide their service to you.

They didn't say "no exchanges ever allowed", they wrote: "without prior written consent".

You know, ... slinging accusations like that are damaging.  

Do you really believe this service that has been operating for over a year now and provides so much for Bitcoin (nearly all of it free of charge to users, incidentally), is thinking that the best option from here is to throw it all away and run off with your £200 GBP?

Or, might it be that it was a holiday weekend, maybe short staff at Qkos, or at Barclays or a combination of the two?

This isn't the first time you've pulled out the "scam card" as leverage.   From another thread:


Yes, it sucks when the banking system doesn't work fast and perfect each and every time.  Bitch at Blockchain.info about being slow here.  Bitch about there not being good communications (nothing is on their thread or anywhere else explaining the delays).

But please do not sling accusations that are not deserved.

It is not reasonable to expect that Bets of Bitcoin to be a domain expert regarding every detail of every bet statement submitted.

In this instance,the bet submitter didn't know to specify the proper bet deadline. [Edited] The deadline couldn't be December 31st, because that is the day the event occurs, and thus if it still were open the site would continue taking bets placed after the outcome was already known.   So the earliest deadline for this bet then became December 27th.  [Edit: Incorrect.  The reference market did trade on December 31st.]

This is no different from the message you'll see at a casino: "machine malfunction voids all payouts".

Your wager wasn't lost.  The bets made after the revised deadline were returned to bettors.

The issue appears to have been resolved now.

[Edit: The Twitter account had addressed the issue in their status update:

- https://twitter.com/blockchain/status/285788380099391489 ]

[Edit2:

From another thread:

  ]

If you know what the balance should be (i.e., to know if the backup was recent enough) simply rename the existing wallet.dat (to something like wallet.err) and restore from the other backup.   [Edit: Use -rescan if needed] If the balance is correct, use that one.

If that did not have all the keys, then you want to try to salvage the wallet (available since v0.7.1):

I guess I need to pull out some bigger ammo:

MtGox account got cleared out
 - http://bitcointalk.org/index.php?topic=85533.0

All BTC disappeared from my Mt. Gox account
 - http://bitcointalk.org/index.php?topic=88368.0

Another:
 - http://bitcointalk.org/index.php?topic=80562.msg941759#msg941759

And another: My mtgox account got compromised, what can I do?
 - http://bitcointalk.org/index.php?topic=84585.0

Yet more: MT.Gox account hacked - lost 2k USD - MT.GOX will not explain how.
 - http://bitcointalk.org/index.php?topic=89142.0

And more again: Bitcoins stolen from MtGox
 - http://www.reddit.com/r/Bitcoin/comments/x8lcv/bitcoins_stolen_from_mtgox

And yet more: Stolen from Mt.Gox coins. Help return the coins.
 - http://bitcointalk.org/index.php?topic=119816.0

Or more here: Email from Mt.Gox this morning.
 - http://www.reddit.com/r/Bitcoin/comments/z0na5/email_from_mtgox_this_morning

And even more here: I just had $715 stolen out of my Mt. Gox account.
 - http://www.reddit.com/r/Bitcoin/comments/12j9gi/i_just_had_715_stolen_out_of_my_mt_gox_account

And the biggie: Bitcoinica MtGox account compromised
 - http://bitcointalk.org/index.php?topic=93074.0

With more here: Unauthorized Account Activity on my Mt.Gox Account - Account Compromised/Hacked?
 - http://bitcointalk.org/index.php?topic=94140.0

And on other services as well. Here same thing happened to some GLBSE users:
 - http://bitcointalk.org/index.php?topic=84893.0

And elsewhere, BitMarket.eu in this instance:
 - http://bitcointalk.org/index.php?topic=5441.msg1259168#msg1259168

And now on bitcoin.de as well: Bitcoins stolen from bitcoin.de.
 - http://bitcointalk.org/index.php?topic=130264.0

In none of these was the person using multi-factor authentication. Mt. Gox has had Yubikey support for a while. Mt. Gox accounts now support Google Authenticator as well:
 - https://mtgox.com/press_release_20120605.html


This is advice you will see shared by many here:

If the exchange you are storing funds with doesn't provide OTP, consider using a different exchange:
 - http://bitcoin.stackexchange.com/questions/4113/which-two-factor-authentication-methods-are-available-at-which-exchanges

If you are storing funds in an EWallet, consider using a paper wallet.

Here is a fantastic guide: How to use 2-factor auth on mtgox, even without a smartphone (from a second device, of course, not from the same computer you log in on).
 - http://bitcointalk.org/index.php?topic=111943.0


You could offer each user the choice -- Master Key or OTP.

Don't -- it is a good reminder to others who might just have made a recent backup after empathizing with you.

The wallet.dat contains, by default. a key pool of the next 100 addresses your client will use.  An address is consumed each time you click "New Address" and then each time a change transaction (back to yourself) is made it pulls one address from the key pool.   The keypool is topped up after each time an address is drawn from it.  (with a few exceptions).

So you as long as your backup is newer than the past 100 transactions it should have all the keys in it.

Here:

That doesn't mean they won't ask for AML documentation for "suspicious activity"

- https://mtgox.com/terms_of_service


It is a manual process, and they are "limited" for the holidays:

- http://www.facebook.com/MtGox/posts/404075009676912

With Bitcoin exchanges you have the following choices:
 Good, Fast, Cheap.

Pick one.

You get the blockchain headers with Simplified Payment Verification (SPV) clients, such as MutliBit.

Someone trying to influence the exchange rate knowing that big a rise in these types of metrics tend to pull the price up as well?

One source of (legitimate) new users are from:
 - http://nzbsrus.com   <--- PayPal kicked them out, so now the only way its customers can subscribe is using a bitcoin.

This is not an insignificant number of subscribers.