Bitcoin Forum
April 19, 2014, 09:00:42 PM *
News: Due to the OpenSSL heartbleed bug, changing your forum password is recommended.
  Home Help Search Donate Login Register  
  Show Posts
Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 [20] 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 ... 450
381  Economy / Service Discussion / Re: *Unofficial* ICBIT (BTC Futures Trading) - Help & FAQ's on: July 11, 2013, 01:48:35 AM
To use backwardation to describe a heavily margined bitcoin future that has been manipulated is a stretch.

OK, at this very moment the last trade at BUZ2 (occurred a few minutes ago) shows 85.  Mt Gox has plenty of bids above, ... and currently trades about 88.

It doesn't matter if that fits anyone's definition of "backwardation", ... it is a condition that can happen, with or without manipulation.

Now until you say that icbit refused to enter an order of yours, or that a deposit you made wasn't credited to you account, then iCBIT is a functional marketplace that is subject to market forces.  Your positions are at a higher risk if you use leverage.  If market forces cause extreme backwardation then that's the nature of the beast.      There's nothing to counter manipulation other than market forces.

Perhaps, akwfleaspirit, ICBIT isn't the right place for you.  Perhaps a nice FDIC insured CD at your local bank is a more secure place for you to speculate with your funds.  [Edit: Actually, that might be something that should be bolded and in red at the top of the OP for this thread.  "This service causes traders to be vulnerable to manipulation by other traders.  If you don't understand the risks  don't trade here.".]
382  Economy / Service Discussion / Re: *Unofficial* ICBIT (BTC Futures Trading) - Help & FAQ's on: July 10, 2013, 10:21:20 PM
You and a bunch of people on your site use these words constantly but you are using them in a way that shows you do not know what they mean.


"it may also refer to the situation where a futures contract price is merely lower than the current spot price."
383  Other / Off-topic / Re: Serval & mesh networks revisited on: July 10, 2013, 10:04:00 PM
Here's a Serval crowdfunding project:

384  Bitcoin / Meetups / Re: Any Bitcoin Meetups in the Los Angeles or Orange County Areas? USA on: July 10, 2013, 08:49:04 PM
I'll be visiting from NYC...

July 15th meetup on Venice beach in Los Angeles at 7 pm.

Hinano Cafe
15 Washington Blvd
Venice, CA 90292

I'ld meet up but I'll be out of town.

If you aren't able to get much interest in that event (especially with it occurring five days after this one: ) then you might just consider this event that same evening:
385  Bitcoin / Technical Support / Re: Created a transaction with too small fee on: July 10, 2013, 09:28:33 AM
I sent my bitcoin from qt file to my other wallet, but I don't know what transaction fee was and I only set it to 0.00001 BTC when I'm sending 0.04877278 BTC. So it has been staying unconfirmed for months. Will it be confirmed ?

You can remove a transaction that isn't confirming by using pywallet and performing wallet surgery:
386  Bitcoin / Bitcoin Discussion / Re: Security at Camp BX on: July 10, 2013, 08:56:51 AM
I realize this is a necrothread, but this was a thread started by Camp BX and my question falls under this topic.

I see that Camp BX has added Google two-factor authentication (2FA).

However, let's say I used the 2FA/TOTP code on one device and then want to move that capability onto another device.  The problem I see is that when I go to create a QR code for adding the TOTP code to my second device then the secret code presented by Camp BX is the same QR code that had been presented initially with the first device.   So therefore I cannot be completely assured that the TOTP secret exists only on my second device since the same secret still could exist on the first device (e.g., if it had been backed up).

So my request is to generate a new secret each time the user enabled 2FA / TOTP.
387  Economy / Service Discussion / Re: *Unofficial* ICBIT (BTC Futures Trading) - Help & FAQ's on: July 10, 2013, 01:44:53 AM
All of the comments made already stand and won't be removed but if you make your site right and stop the cheating games my comments will reflect that.

Please, akwfleaspirit, this is a "Help & FAQ" thread.

You have started a thread in the proper board (Service Discussion). That's where these types of comments belong.
388  Bitcoin / Bitcoin Discussion / Re: Mobile money slowly turning East Africa into cashless society on: July 10, 2013, 01:27:08 AM
Individuals can just send money to each other without being an agent,

I found a fantastic article describing M-PESA further:

So an individual can have a balance no more than 50,000 KES (~ $575 USD).  
There cannot be more than 70,000 KES (~ $800 USD) transferred out of an account per day, and 35,000 KES (~ $400 USD) is the most that can be transferred in a a single transaction.

So while these limits have relatively small amounts, they are still high enough that an individual could use this service for a remittance payment to family back in Kenya.  

There already is an M-PESA IMT (international money transfer) method in which money is sent through Western Union and the recipient is an M-PESA user but of course the fees for that are quite high -- generally, at least 10% or more for transfers of $400 or less including loss when the exchange rate conversion occurs.  

With Kipochi the sender can handle all the transfer details and the remittance recipient gets an SMS alert when the funds arrive in M-PESA.  So there is no learning curve or technical hurdle here on the recipient's end.

There's even room for an individual to become an independent provider (agent) of Bitcoin remittance cash-out.  This person would use Kipochi to get started by converting bitcoins received into a form of funds the agent can use for spending.  Then once that agent's volume is heavy enough it then makes sense to work with a local Bitcoin exchanger (to restock the agent's inventory of schillings) and skip the costly M-PESA conversion entirely, as every schilling counts!
389  Economy / Economics / Re: Wuala founder plans Bitcoin ETF at 26 million USD market cap at SIX Zurich on: July 09, 2013, 11:48:32 PM
According to the preliminary plan he published on,

So this is different from
390  Bitcoin / Press / Re: 2013-07-11 Laissez Faire Books: Bitcoin and Digital Currencies on: July 09, 2013, 11:41:34 PM
I believe it will be free to LF members and US $14.95 otherwise.

I don't see a way to pay for the purchase using Bitcoin.
391  Bitcoin / Bitcoin Discussion / Re: Bitcoin-Qt / bitcoind 0.8.2 (final) available on: July 09, 2013, 04:25:16 AM
In general I think it is time to update

I just updated the default fees in that wiki article.  

paytxfee was showing a non-zero value, but that is zero in the software, and has been for quite some time right?

A second set of eyes on the changes would be helpful.
392  Economy / Service Discussion / Re: Transaction Confirmation Failed on: July 09, 2013, 03:44:42 AM
What? I thought it was 0.0001 BTC per kB now, so in this case it should be 0.0036 BTC.

Thanks, I updated the Wiki page to reflect the new fee.   

Incidentally, the size gets rounded up, so the number used for the calculation if there is even one byte over 35K means 36 is the needed value.  Your fee was 0.0035 so the logic in the code would by default leave your transaction as low priority.

Doesn't really give any information about how to modify an existing transaction with a 0.0035 BTC fee and change that fee to 0.018 BTC.

There is no way to modify the fee for an existing transaction.  If it was sent using, eventually it will stop retrying and the funds will again show as spendable.

Is suppose what could be attempted is to take one of the inputs and try to double spend it:
Then that would invalidate this transaction, causing the funds to immediately become spendable once again.
393  Bitcoin / Bitcoin Discussion / Re: Taking Bitcoin to the next level on: July 09, 2013, 02:24:58 AM
a device with a modern, stylish and cheap design which is capable of transferring coins from Bob to Alice nearly instantly with a low chance of a double spent transaction.

Perhaps ....

394  Bitcoin / Bitcoin Discussion / Re: Mobile money slowly turning East Africa into cashless society on: July 09, 2013, 01:59:18 AM
Here's an interesting development:

And another interesting development:

I'm not familiar enough with M-PESA t know what this offers though.  I need to be an M-PESA agent to accept funds, right?   And if I'm an M-PESA agent there's probably a terms-of-service as to what transactions are allowed.   Or am I misunderstanding how it works?
395  Other / Off-topic / Re: No idea where to post this but "I'm so done" on: July 08, 2013, 07:33:54 PM
I like Eric, so I hope this is not his site that is being inferred to.

Well, SD doesn't use web access for wagering.  The report was for a competing site, apparently:

I found a recent exploit (Not to scare anybody, because it is fix with my help of reporting it Smiley And got compensated <3 tHanks PrimeDice)
396  Economy / Service Discussion / Re: Transaction Confirmation Failed on: July 08, 2013, 07:11:26 PM
What can I do beside waiting for it to be confirmed?

The size of the transaction is a little over 35K.    

"the reference implementation will round up the transaction size to the nearest thousand bytes and then add a fee of 0.0005 0.0001 BTC per thousand bytes"


Your fee paid of 0.0035 is way too low.

Pay 0.018 BTC (calculated using 36K X 0.0005 BTC, which is worth under $1.50) and the transaction will likely confirm.

[Edit: v0.8.2 and above the fee is 0.0001 BTC per 1K].
397  Bitcoin / Meetups / Re: Any Bitcoin Meetups in the Los Angeles or Orange County Areas? USA on: July 08, 2013, 05:29:11 PM
I want to sell some bitcoins in person, I'll showup if buyers do

There are likely to be some buyers there.  More than two dozen people have RSVP'd as "will attend" the Wednesday, Jul 10th L.A. Bitcoin Meetup in Santa Monica:
398  Bitcoin / Meetups / Re: Los Angeles (SoCal) Bitcoiners Meetup? on: July 08, 2013, 05:23:49 PM
Wednesday's meetup is at a restaurant (, so you should be fine.

Wow, 26 have already RSVP'd as "will attend":
399  Economy / Service Discussion / Re: Anyone used Tranzfers to deposit Bitstamp (UK) on: July 07, 2013, 07:34:06 PM
Hey just wondering if anyone has used this for trading on Bitstamp thanks

After you posted your question, this was posted in another thread:

Just a heads up that are no longer prepared to transfer money to Bitstamp.  I arranged a transfer yesterday which they'd received the funds for and marked as "paid to beneficiary" on their website , but they've just phoned me up to confirm that they won't be completing the transaction. One of their banking partners is Citibank so I guess it relates to that. 
400  Bitcoin / Bitcoin Discussion / Re: Run 'Round FINCEN Rules. Bitcoin Exchanges without Registering on: July 07, 2013, 06:39:14 PM
If 10000 US Bitcoin users opened accounts on LocalBitcoins and started actively trading, there would be little anyone could do about it.

Here's another approach that will be hard for banks and regulators to respond to.  An escrow service that matches buyers and sellers in which cash is deposited by the buyer into the seller's bank account.   Seller's coins get escrowed to     


The high volume sellers will have the risk of the bank concluding that the deposits are for bitcoin (or a sting) and the seller ending up without access to the funds in the bank account.

Instead of there being a handful of exchanges each with a high volume of cash deposits there will be a high number of exchanges (individuals selling coins) each with a low volume of cash deposits.   

Decentralization FTW!
Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 [20] 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 ... 450
Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!