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9241  Bitcoin / Development & Technical Discussion / Re: When to backup / What to backup on: November 23, 2010, 01:52:17 PM
I still have the address and key, so shouldn't the transaction be replayed when I parse all blocks again?

Due to a bug or an attack on the network, blocks might be rewritten. Honest generators will rebroadcast your transaction for you if this happens, but this system might break down as well. It's very unlikely, of course, but you might want to account for this in situations requiring very high security. I wouldn't bother with it if I were you; I just wanted to mention the possibility.

The means by which transactions get transported are the blocks, right? There's no out of band communicating of transactions between clients?

That's right.

I'm still struggling to understand what happens in a fairly typical scenario:

Day 1: New Bitcoin install and wallet.dat created
No transactions
Day 2: Incoming 10 BTC
Day 3: Wallet.dat backed up to flash drive, stored in safe.
Day 4: Outgoing 4 BTC
Day 5: Incoming 5 BTC
Day 6: Hard drive crashed
Day 7: New hard drive, new install of Bitcoin
So ..., what steps are next, and is there anything that I lose?
9242  Bitcoin / Bitcoin Discussion / Re: Why Are You Sold On Bitcoins? on: November 21, 2010, 08:33:16 PM
Bitcoin is the perfect agorist currency.

I lean the same way, though this is far from proven. Some limitations I can think of:

  • A substantial majority of humans lack computers and/or internet access.
  • Bitcoin might be out-competed by something else in the works (Truledger, Loom)
  • Bitcoin might be out-competed by something not yet invented
  • The entire model might be flawed
  • Space aliens could destroy the intertube
  • etc...

Why won't Bitcon be cloned be anyone else? New genesis block, ... voila, another competing currency,right?
9243  Bitcoin / Bitcoin Discussion / Re: support for dns lookups on: November 21, 2010, 05:49:15 PM
So if I want to be able to identify the payor, what's the harm in having a single bitcoin address for each of my customers rather than for each transaction?
9244  Bitcoin / Bitcoin Discussion / Address used for receiving the generated Bitcoin? on: November 21, 2010, 06:31:21 AM
I plan to run the Bitcoin client on an underutilized server at an off-site location.  I cannot remote into it and won't be back to that location for at least a couple of months from now. Thus I won't know if it generated any Bitcoin, nor would I be able to transfer it before my next visit.

Should any Bitcoin be generated for it, will the address that the Bitcoin is sent to be the address that was initially generated for the client?

If so, then as long as I record that address, I can then periodically check the status here:  [xxxx = address]

Additionally, if I created a backup of the wallet and have it with me, I should be able to fire up another client here, restore the wallet and be able to transfer the Bitcoin away, correct?
9245  Bitcoin / Bitcoin Discussion / Re: now accepts donations via Bitcoin. on: November 20, 2010, 06:15:41 PM
First, the purpose of my new page at is to create a master directory of public bitcoin addresses of people and organizations which accept donations via bitcoin.

This is a bad idea.

Agreed.  For many reasons.

Maybe it makes sense to keep a list of organisations which accept bitcoin donations.  But such a list should consist in organisation names and website links.  Nothing more, and certainly not the actual bitcoin addresses.

For the purpose of accepting a donation, why is this a bad idea?  Since it is a donation, the organization doesn't need to know who it came from.

It isn't like your address is secret, right?  If I give you a Bitcoin address, and you then do send to that address, I now know what your Bitcoin address is. 

Additionally, because that data has value, the recipient will likely store it in a database.  Then let's say the recipient's server gets hacked and that stored data with your Bitcoin address tied to your name winds up on some publicly shared torrent data file.  What's the risk?

Won't the payment processors, retailers, etc. do the same with Bitcoin that they do with credit card transaction data?  Once Bitcoin reaches visibility of higher levels of organizations, anonymity (for the average Bitcoin consumer) will be gone in 5, 4, 3, 2, ...

Fortunately, if I wish, I can create another wallet with a separate Bitcoin address, fairly easily.
9246  Bitcoin / Development & Technical Discussion / Re: Hash Rate / CPU Comparison Table on: November 19, 2010, 05:46:33 PM
Just want to make sure I understand this correctly.

The next hash that the Bitcoin client running on my old single-core laptop has just as much chance of solving the block as does the next hash performed by a miner running on the most souped up GPU-aided hardware out there, right?

The only difference is that the number of attempts by the miner is an order of magnitude or greater than the number of attempts by me.

Is my understanding of this correct?
9247  Bitcoin / Bitcoin Discussion / Options for offline-only users? on: November 18, 2010, 10:06:08 PM
In many areas of the world, there is not just limited connectivity, there is no Internet connectivity.   But does that mean those people would be shut out from using Bitcoin?

Is there a way that Bitcoin transaction can execute via sneakernet?   (i.e., the villager and his wallet stay home, but the transaction to pay was transferred to an agent which is then taken to a location that has Internet connectivity)?
9248  Economy / Economics / Re: FAQ: There's a constant average rate of new Bitcoins created on: November 18, 2010, 09:47:27 PM
[...] but difficulty adjusts only every two weeks and is limited to a change of 4 times.

What does that "4 times" mean.

Found this, ...

9249  Bitcoin / Bitcoin Discussion / Re: People complaining about how hard it is to generate on: November 18, 2010, 11:35:45 AM
From the FAQ:

> At the moment, though, you can generate new coins quite profitably,

So, .., that probably should get updated?
9250  Economy / Economics / FAQ: There's a constant average rate of new Bitcoins created on: November 18, 2010, 11:19:50 AM
Is that still true?

In the past 24 hours, there were 263 blocks created.  That's an annual rate of 95,995 -- which is more than all the blocks that exist today (92643 blocks, per )

From the FAQ,
> As of October 30th 2009, there are about 26,000 blocks in the block chain,

This means that since October 30th, 2009, there have been an average of about 174 blocks created each day (calculated as (92,643 - 26,000) / 383 days). Today's completion of 263 blocks is about 50% higher than that average daily number then.  So I'm confused.

And also, ... just so I understand this:
So today's miners of the 263 blocks got 50 BTC per block, thus the day's inflation of the Bitcoin supply was 13,150 BTC, (or roughly about US $3,200.)

Is that right?

9251  Bitcoin / Bitcoin Discussion / Re: Bitcoin domain name land grab is on on: November 18, 2010, 10:48:33 AM
And the list doesn't include ones that were recently registered, ...
e.g., [registered 11/16/2010]
9252  Bitcoin / Bitcoin Discussion / Bitcoin domain name land grab is on on: November 18, 2010, 10:17:36 AM
The following domain names are registered.  Some might not be [not related to] [main Bitcoin site]

Still Available:

There may be others, I found these using
9253  Bitcoin / Bitcoin Discussion / Lost backup of my wallet.dat, how to "invalidate" it? on: November 17, 2010, 06:07:26 PM
Let's say I lost my USB drive that had a backup (unencrypted) of my wallet.dat

How would I "invalidate" that backup?
9254  Bitcoin / Bitcoin Discussion / Re: People complaining about how hard it is to generate on: November 17, 2010, 05:53:14 PM
What I'm wondering is  ... is it fair since Bitcoin was much easier to generate earlier?

It's like inheriting wealth.  Most of the buik of the current 4.6 million BTC in existence today ( per ) was earned with much less effort than the next 4.6 million BTC will require.

So by moving to BTC we would just be slaves to a different master (those who were first-movers / early adopters), right?
9255  Bitcoin / Bitcoin Discussion / Re: Which method do YOU use to buy Bitcoin for cash? on: November 16, 2010, 07:27:34 AM
Todya, when I want to send cash to someone (and they aren't on PayPal) I go to a western union office, fill out a form, hand over some cash and voila, I'm done.

Would it make sense to have a directory where those who are willing to sell their Bitcoins for cash can list their contact info and fee?

Even though I have no interest in becoming a money handler, I'd be happy to let someone stop by my house some evening, and exchange a small amount (e.g., $20 or $50) for them.

And exchanging cash for Bitcoin in-person lessens the risk dramatically -- on both sides.

If there was a version of Bitcoin for mobile, that would allow the buyer to get confirmation of the transfer before leaving even. (or, if a mobile version isn't in the cards yet -- use which can be accessed via web on a mobile.)
9256  Bitcoin / Bitcoin Discussion / Re: People complaining about how hard it is to generate on: November 16, 2010, 07:12:28 AM
like the starter kit we get from paypal, or liberty reserve, or moneybookers?

Actually, That was part of PayPal's origins.   Before being acquired by PayPal, Elon Musk's was giving each new account $5 seed money.  This was marketing genius and one of the first "viral" growth stories on the Internet.

I just learned about Bitcoin the other day, and hope to build up my Bitcoin wallet a little by selling some stuff on BiddingPond:

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