. . . if a miner has to start choosing which transactions to include in a block, your spam-like transaction doesn't get chosen . . .
Correct me if I'm wrong, but it is my understanding that it isn't just miners that might ignore a fee-free transaction with recent (young) coins or large number of inputs. Don't many of the clients also refuse to relay these transactions? Meaning that most of the network won't even see (and have to deal with) the transactions, preventing them from flooding the network. Miners can do whatever they want, including "ignoring" transactions. I'm not sure the exact behavior of the Bitcoin.org client. Using the description from the Wiki (posted above), the If a fee of 0.0001 BTC is paid, the client will relay it. If that fee is not paid, the client will still relay it even if no fee is paid as long as all outputs are 0.01 BTC or larger and the total size is less than 10KB. It does not appear that the age of a coin has any affect on whether or not the node will relay the transaction. Now just because a node will relay the transaction doesn't mean the fee is sufficient to get it included in a block in a timely manner.
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Get him his deserved tag
This looks like a two for one. From another thread: Please take care this looks like the same Admin like of bitexchange.biz Good call. $ host bitexchange.biz bitexchange.biz has address 109.163.231.157 $ host sellbitcoins.to sellbitcoins.to has address 109.163.231.157
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Please take care this looks like the same Admin like of bitexchange.biz Good call. $ host bitexchange.biz bitexchange.biz has address 109.163.231.157 $ host sellbitcoins.to sellbitcoins.to has address 109.163.231.157 I've submitted a complaint to voxility.net, hopefully they will take action.
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I have just sent this company 17 bc on friday 12/20/12.
Just out of curiosity, that forum user account wasn't even registered until after that date. How did you come across that service?
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The deflation argument is that a person with the currency is not spending because that person is expecting the value of the currency to be higher in the future and thus the same amount of money will buy more in the future and thus current spending is deferred.
When a decision to spend has already been made (e.g., for food, or purchases that are necessary) a person with bitcoins will be making a decision on whether to spend with bitcoins or to spend with fiat money.
But bitcoin transactions have lower costs for a merchant than that merchant has when the customer pays using a payment network card (e.g, 3% for payment card transaction, versus no cost whatsoever to a merchant to receive bitcoins as the transaction fee is paid by the sender, and is so small -- under a penny, that it isn't a factor in the consumer's decision on payment method).
We are already seeing merchants passing along these savings by giving a discount for purchases that are paid using bitcoins, and other merchants are becoming low-cost leaders by accepting only bitcoins (e.g., BitcoinStore.com). (Incidentally, with high-risk merchants, e.g., Travel, paying 8% payment network costs should be where Bitcoin sees the greatest initial traction as a result of this).
Because I can easily replenish my bitcoins that I am using for spending (e.g., send a bank transfer / Dwolla / etc to an exchange), I as a consumer am financially better off paying with bitcoin now and taking the discount (and replenishing the number of bitcoins spent) than I will gain by simply sitting on my bitcoins.
So when the decision is simply to spend bitcoins or to spend dollars, the payment network costs have a bigger impact on that spending decision than does the anticipation of even lower prices in the future (when priced in terms of bitcoins that would be spent).
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This use of seller is (optionally) plural: 2. I find seller(s) for the bitcoins at the price you're after. But then each use of the term seller after is singular: 3. I serve as "escrow agent" using a crypto-based escrow tool. The tool makes it so you and the seller can generate a bitcoin address that nobody can collect from unless someone releases the escrow. You and the seller can release the escrow without my help, but if neither of you release, then I can force-release it to either you or the seller (all-or-nothing). The design of the tool prevents me from ever having access to take the coins myself. 4. Once confirmed the bitcoins are in escrow, you pay the seller the remaining 90% via bank wire 5. The seller releases the escrow. Of course with each counterparty there is an increase in expense and administrative work by the buyer (multiple bank wires cost more than a single wire, managing multiple escrowed buys simultaneously introduces confusion and delays, etc.). Is it simply where the buyer allows for there to be up to a certain number of sellers?
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Is it possible for an attacker to crash the entire Bitcoin network by flooding transactions? Like, infect thousands of computers with a software sending coins around between few wallets?
Here are the types of denial-of-service attacks the bitcoin.org client and others that behave similarly will protect against: - http://en.bitcoin.it/wiki/Weaknesses#Denial_of_Service_.28DoS.29_attacksSpamming transactions
It is easy to send transactions to yourself repeatedly. If these transactions fill blocks to the maximum size (1MB [Edit: 0.5 MB if I remember correctly]), other transactions would be delayed until the next block.
This is made expensive by the fees that would be required after the 50KB of free transactions per block are exhausted. An attacker will eventually eliminate free transactions, but Bitcoin fees will always be low because raising fees above 0.01 BTC per KB would require spending transaction fees. An attacker will eventually run out of money. Even if an attacker wants to waste money, transactions are further prioritized by the time since the coins were last spent, so attacks spending the same coins repeatedly are less effective.
- http://en.bitcoin.it/wiki/Weaknesses#Spamming_transactionsSo the network doesn't know the difference between your flooded transaction sent from older coins in your wallet and my transaction sent from older coins in my wallet where both of us are paying the same fees and sending at the same time. But after you've spend that transaction, your change that you've received is now a newer coin. And if you try to spend the change, your transaction does not look like mine and if a miner has to start choosing which transactions to include in a block, your spam-like transaction doesn't get chosen. The bitcoin network is handling 50K transactions per day easily now. So to properly prepare for this attack you might want to have a wallet with a couple hundred thousand addresses (or more) each with a bitcoin or so of funds for each address. So harassing bitcoin as it exists today is certainly possible, it is just requires resources normally outside the range of someone curious if it could be done. Additionally, if there is a pattern seen as being disruptive, there are changes to the client that the miners can perform to give preference to transactions that don't look like yours -- though you too might be able to adjust in response. And an arms-race proceeds. You would need to be determined to have a lasting impact.
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i have sent them question throught that amazing "contact us" formular, because i couldnt find anything else
Contact Us is for like press inquiries or busines development. You want support (it was to the left of the "Contact Us" link) - https://support.mtgox.com/home <---- Click "Submit a request" at the top. File a ticket there.
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then it seems like something that wins out, where bitcoin will be rather stillborn compared to our grand plans for it.
Ripple has the same hurdle as does Bitcoin: PayPay, VIScAm, Mastercrap, JP Morgue, Western ULose, etc.
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That's really interesting. What are the other criteria for deciding whether bitcoin-qt will require a fee? Sometimes it seems almost random to me.
A transaction can be sent without fees if both of these conditions are met: - It is smaller than 10 (SI) kilobytes (10.000 bytes). - All outputs are 0.01 BTC or larger.
- http://en.bitcoin.it/wiki/Transaction_fees#Minimum_transaction_feesThen it is 0.0005 per additional KB of data.
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My client got as far as 99.11% and than it hung on a particular block.
Well, first thing is check your disk space. Maybe it is running full and stopping? Also make sure you are using the most recent client.
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explain to him why I am about to invest about a thousand dollars into fpga and asic rigs
FPGA rigs? Maybe you might want to try explaining that to the community here first. Assuming this is money you'ld rather not lose, that might be a good first step.
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Thank you very much.
You can open a new ticket on the Bitcoin project on GitHub: - https://github.com/bitcoin/bitcoin/issuesIf you aren't sure it is a bug, you might share your problem here and maybe there is some workaround or other useful information you'ld end up with.
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What did I do wrong?
Well, nothing wrong per-se, but neither of those included a transaction fee. About a week ago, payment of a transaction fee with your wager was made a requirement to be able to get the wager processed (and paid out) prior to it getting one confirmation: I've set it to allow unconfirmed as long as they have a fee and are based on confirmed inputs.
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