It seems stuck.... It wont download any new blocks just keeps spinning and connecting and disconnecting... New blocks appear but it wont download any...
Are you on the latest client, v0.6.3? If not, that is something you should upgrade to. |
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If there were a way to add a column to that chart which could illuminate this aspect of things...and be maintainable...it would be cool. Good suggestion. I'll think about how that would fit best. |
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Anybody worried about mtgox losing their money by one of its employee forgetting the password to its cold wallet? Or perhaps magicaltux got hit by a bus?
Just got some details: - Does [MtGox] use cold storage (an offline wallet that cannot be accessed should the exchange's service become compromised)
Yes.
- Is there a target as to how much of customer's funds are kept in cold storage? (e.g., percent of total, or perhaps relative to recent withdrawal requirements)?
On average 98% of customer bitcoins are held in cold storage, with possible variations on large bitcoin moves (large deposits or customers asking for large withdrawals).
- Do new deposits go to cold storage? (if the hot wallet is compromised, new deposits made (e.g., automated payouts by mining pools) would still be secure)
No, this wouldn't be practical in terms of number of bitcoin addresses to keep in cold storage. This could change thanks to BIP 0032 which we are working on implementing. It should be noted however that we are using a hardware security module for the hot wallet
- Does the offline wallet where the cold storage resides remain protected due to an "air gap" (no access to it electronically, not connected to the network)?
Offline wallets are generated from an offline system and kept in paper format in three separate locations, using a technology based on raid. It will likely be changed to use Shamir's Secret-Sharing method in the future, and all existing offline wallets will be converted to this.
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Also, that means that right now when we use a full client not only do we store the main block chain, but also all these orphaned blocks?
I don't think that is the case, perhaps they are held just in the node's memory pool. |
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how long ago did you send your e-mail?
I think the first e-mail was sent on the 25th of August. The forum PM was sent on the 2nd of September. Ya, that's way too long to go without a reply. You may try Erik Voorhees directly with a PM: - http://bitcointalk.org/index.php?action=profile;u=12149 |
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My reasoning behind this is that: when it get's near the end of downloading the blockchain it uses a ton of CPU and takes days to finish....
That has nothing to do with your wallet.dat and everything to do with the makeup of the blockchain (thanks to SatoshiDICE which started on stong at about 95% of the blockchain). So, ... unless your wallet.dat is corrupt or something, that is not your problem. As far as it re-downloading the blockchain, I'm not sure why that would be doing that. Also, if you are on an encrypted filesystem that will really slow you down for blockchain downloads. As far as a client, such as Electrum or MultiBit, yes, the key(s) can be exported. The wallet formats are different. You can import private keys into electrum I believe. Personally, I use Blockchain.info for my daily wallet as that is accessible via web and mobile app. It is a hybrid EWallet, doesn't have access to your private keys. But that too would require that you export your keys and transfer them. Letting the client complete the download is probably your safest point forward, then send a payment to empty your wallet rather than importing keys. |
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I have a friend that has money stuck in Dwala because he won't give them his SSN, which is ridiculous.
Is this still a requirement? I had an account then all of a sudden it required that I verify with ID, so I could see that happening to someone with funds in their account. It doesn't seem to happen to everyone, but trading with exchanges seems to trigger that "needs verification" flag. |
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Except for mining (which is getting more and more specialized and risky) and investing on GLBSE are there other ways of earning btc? And I'm not talking about trading on silk road, only online stuff  You can do in-person trading. - http://www.LocalBitcoins.comYou set the price. Have the person meet you. This is because for some people even going to 7-11 and picking up the red phone is too much work / too complicated / too risky / etc. and meeting up with the seller and doing a trade face-to-face is worth it to them, and they are willing to pay a little extra. |
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BitPay is also in early discussions with three of the top 25 websites ranked by Alexa, which are testing BitPay's systems, he said.
Just takes one to get the party started. Then it is just a matter of playing follow the leader.  |
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what is the best way for his sister to convert them to USD, how long would this take, and what would the average fee wind up being? She can provide AML docs. I am hoping it is easier and/or cheaper than an international wire with a currency conversion.
For an amount like that, wire transfer costs are not that excessive on a per-bitcoin basis (e.g., maybe 1%). ACH, an alternative to bank wire for domestic bank transfers, is essentially free (or trivial when using an intermediary such as Dwolla or OKPay). A problem with this request might come f this needs to be converted all at once (e.g., within the same day), then there are not that many exchanges that can handle a conversion of that size without the trade ending up with lower proceeds from the sale of the coins due to slippage. Slippage occurs when the selling takes out all the bids and ends up trading below the current market exchange rate. Mt. Gox can handle that order size fairly easily. A few ofher exchanges could handle it but would probably require breaking the sell order up into multiple chunks and selling them over several hours. BitSTAMP and BTC-E are two examples of where this volume could be broken down into chunks. As far as AML, this will be required for the account owner doing the trading. There's nothing that says that your friend can't take care of all the conversion of BTCs to USDs at Mt. Gox and then send the USD wire transfer to his sister's account without any involvement (or AML verification) by her at all. If this might be a recurring request though, she might want to get set up with an account at an exchange (e.g., Mt. Gox) and then go through the AML verification and also the Dwolla verification. That way there are no fees for moving the USD funds (except for the $0.25 per-transaction fee by Dwolla). Mt. Gox's Level 1 AML Verification: (up to $10K USD per day) - https://support.mtgox.com/entries/20919111-aml-account-statusesNow for transfers of fiat from one currency at a bank in one country to another fiat currency at a bank in a different country, then Bitcoin may not be the most economical method. There are cheaper alternatives just for this purpose. If CurrencyFair is supported for your friend's (sender) currency, then that might be something to consider as well. Before converting, CurrencyFair is used to get funds that will be traded via bank transfer. Then the funds are traded into USDs (by trading with others wanting a trade in the reverse direction) and then withdrawn to any bank account (as a domestic bank transfer/ACH in the U.S., for example) But a scenario through Mt. Gox, for example: One-time preparation: Create account at Mt. Gox and submit identification info Duration 1 business day. BTC transaction: Provide Bitcoin address from Mt. Gox account. BTC Funds transfer (confirm) in about an hour. Trade BTC for USD. With Mt. Gox's liquidity, a single ask could be placed as a limit order at the current market price and would become a 500 BTC ask wall. It could be chewed up in minutes, potentially. To avoid the market reacting to the existence of that large sell order, the order could be placed instead as a market order, and the trade would be concluded nearly instantly. Withdraw: An international bank wire request could be made the same day, but for various reasons (not the least of which is the time zone differences), next day would be more likely (or two or three days if your bank screws up. Withdrawal to Dwolla should be fast but Mt. Gox had a backlog and that still may end up being days of delay before Mt. Gox performs the account-to-account (A2A) transfer to Dwolla. If that backlog were eliminated, then Dwolla would be the next best method for withdrawal for that amount of USDs. Their ACH withdrawals from Dwolla than are next day or if not, two days. |
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we have transactions on both blocks. What happens with the ones on the orphaned block?
Consider that there are two miners, Alice and Bob, and the last solved block was a block at height 100. So both are trying to solve for block 101. Bob may have some transactions that Alice doesn't yet include and vice-versa. Then say both happen to solve a block 101 at about the same time and broadcast their 101 to their peers. A peer node X happens to learn first of Alice's block 101. and any transactions in Alice's 101 will now show as 1/unconfirmed. Then X learns of Bob's block 101. X will still store that block (as a side branch) but will still treat Alice's block 101 as the last solved block. Any transactions that were added exclusively by Bob in his block 101 will still show as 0/unconfirmed by node X. If another miner, Charlie, instead first learned of a block at height 101 from a peer relayed Bob's block 101, then it is trying to solve for block 102, Charlie solves it and broadcasts it and thus Charlie's peers propagate it and eventually it reaches X. Now X confirms Charlie's 102 is valid and thus takes that side branch that included Bob's 101 and makes it the main branch after appending to it Charlie's block 102. Alice's 101 is now a side branch (which causes her 101 to be an orphan). If there were any transactions that Alice had shown as 1/unconfirmed in which neither Bob nor Charlie had added, then X will now display 0/unconfirmed for that transaction. - http://en.bitcoin.it/wiki/Protocol_rules#.22block.22_messagesSo to recap ... when X learned of Alice's block 101 first it added it as being valid, and any other blocks for 101 that arrived later (e.g., Bob's block 101) were added to a side branch. So the winner at any block height is the first valid block to arrive at each specific node. Thus there is an incentive to miners to see their blocks propagate as quickly as possible, and the smaller the block (fewer transactions) the faster it will be verified and relayed by each node. There are orphaned blocks pretty frequently (e.g. daily) so this isn't just some odd quirk that happens only once in a blue moon. |
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So, any pokerstars here around this thread?
You might want to post in the SealsWithClubs.eu thread. Maybe someone wants coins to play there will trade their P$ with you. |
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Can also directly load bank accounts from Canada, there are enough foreign branches of Chinese banks here to just walk in and deposit cash.
But only to accounts of Canadian customers using those Chinese banks, right? It isn't like you can deposit funds in Canada into an account for someone who has only banked in China and hasn't opened an account in-person at the Canadian branch? |
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I just want some coins T_T
QuickBitcoins.net still shows that they accept credit card. If you have a PayPal debit card you might be able to use that. - http://www.QuickBitcoins.net and be stuck with the money on my paypal account because it takes a week to post back to my bank account.. Is there anyone that you know in-person that would take a payment from you via PayPal and hand you over cash? That way you can use one of the many cash-deposit methods that work quite well, such as BitInstant. |
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I start a new wallet from scratch...
Why? The blockchain download halting probably has nothing to do with your wallet. In fact, you can re-download the blockchain with the empty wallet.dat, then replace that empty one with the wallet.dat from your backup. (of course, shut down the client before copying the wallet.dat over.) There's no need to import private keys. As far as why that might hack stopped downloading, there are a couple things that could be happening. Firstly, are you using the recent release (e.g.., v0.6.3?) If so, does the client show connections? A debug.log can help troubleshoot why the blockchain download might not have completed. But that is completely separate from any wallet.dat issue you think you might be having. |
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Well thanks for the tip, here's hoping someone out there trusts a newbie! Please?  If you'ld like to know other options, the factors that matter in order to give you the best answer include: - Where are you located (country)? - How much are you looking to buy? - What payment methods do you have available? - How soon do you need access to the proceeds? - Is privacy important? Quite simply, depositing cash at a bank or 7-11, Walmart, CVS is going to be the fastest and easiest way. - http://www.BitInstant.com (Deposit at major banks, 7-11, Walmart, CVS, Moneygram, etc., or in Brazil using Boleto or Banco Recomendito, or in Russia, using Qiwi or Cyberplat.) - http://www.CAVirtEx.com (Deposit cash at several banks) - http://www.Spendbitcoins.com (Deposit cash at a bank in Australia) - http://www.MrBitcoins.com (Deposit at a bank in U.S., India, Australia) - http://BitcoinNordic.com (Purchase CashU or UKash in dozens of countries) - http://www.BTC-E.com (Deposit cash (USD) at bank locations in Russia) The fees aren't trivial but you can use a credit card to purchase by using VirWoX where you can buy SLL using your Serve card as a credit card, then trade SLL for BTC: - http://www.VirWoX.comThis probably does't help you if you are looking to spend the coins anytime soon, but you can buy physical Bitcoin, paid for with credit card: - http://memorydealers.com/catalogsearch/result/?q=bitcoinOr find a local trade: - http://www.localbitcoins.comAll kinds of options: - http://en.bitcoin.it/wiki/Buying_bitcoins |
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