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61  Bitcoin / Bitcoin Discussion / Re: BIP1xx DynamicMaxBlockSize on: September 02, 2015, 01:16:48 AM
I think 1MB is good. Keeps the cup-of-coffee-buyers and third-world-small-bag-of-rice-purchaser off the blockchain.
62  Bitcoin / Bitcoin Discussion / Re: Recommendation for a host for a full node? on: May 27, 2015, 03:00:03 AM
Go to the Digital Goods section and buy an MSDN admin account. Activate your 3 year free $150/month Azure credits. That should be enough to pay for a couple of 1-core virtual servers to host 2 full nodes. (Make sure Vod does not catch you doing it, though.)
63  Bitcoin / Bitcoin Discussion / Re: Has the NSA already broken bitcoin? on: April 24, 2015, 12:17:17 AM
In the following thread:

https://bitcointalk.org/index.php?topic=289795.0

you will see that we cuss and discuss where the ECC parameters come from, if they were possibly designed to be weak by the NSA, etc.  I even contacted people on the committee that designed the ECC used by Bitcoin and asked them directly where the parameters came from.

I suggest a read of that entire thread.  It is probably the most fascinating thread I have ever participated in.

Good thread indeed. I've always been more worried about potential weaknesses in ECC rather than somebody's ability to "decrypt" SHA256.
64  Other / Meta / Re: Are members of sig ad campaigns only banned or other members as well are banned? on: April 18, 2015, 12:32:47 PM
For eg: A user creates a thread about a news article and talks about sun, moon, trees and I don't know what else. Isn't that considered going off topic in their own post? If they were wearing a signature, they might have been probably banned but now their posts are being considered non-spammy?

Please post an example. Maybe their off-topic comment were entertaining enough to others.

https://bitcointalk.org/index.php?topic=1026514.msg11106350#msg11106350

https://bitcointalk.org/index.php?topic=1026514.msg11117124#msg11117124

https://bitcointalk.org/index.php?topic=1026514.msg11117228#msg11117228

Sorry to the OP but the posts dint make sense to me.  Sad
You are probably not a geek, but I understood what was said. There were obtuse references to geeky stuff that many on the forum would get.
65  Other / Meta / Re: Are members of sig ad campaigns only banned or other members as well are banned? on: April 18, 2015, 12:09:41 PM
For eg: A user creates a thread about a news article and talks about sun, moon, trees and I don't know what else. Isn't that considered going off topic in their own post? If they were wearing a signature, they might have been probably banned but now their posts are being considered non-spammy?

Please post an example. Maybe their off-topic comment were entertaining enough to others.
66  Bitcoin / Pools / Re: [400GH/s] p2pool: Decentralized, DoS-resistant, Hop-Proof pool on: November 26, 2012, 01:05:17 PM
Is anyone currently NOT having problems?
67  Economy / Lending / Re: Bryan Micon's List of BTC Ponzi Schemes that should not be listed as "Lending" on: July 30, 2012, 12:00:03 PM
they're not all delayed until monday, but almost every single monday a withdrawal is taken at the same time as interest payment, hence amounts can't be relied upon to simply "divide by 0.07".

you're all just doing guess work, most of which is completely off the mark.

I guess the assumption that everyone is a Compounding MoronTM is false. I would not be suprised if many depositors have taken into consideration the risk of default/ponzi and already have in place some strategy of risk reduction based on systematic withdrawals.
68  Bitcoin / Bitcoin Discussion / Re: What have we all learnt from the Mt Gox incident? on: June 20, 2011, 11:23:54 AM

Oanda is taken seriously. They have also been known to roll back trades.

Speaking of Oanda, it's be insanely awesome if they added BTC as a currency to their systems.

Some still say Oanda is a bucketshop, albeit a respectable one.

Rolling back trades is not the issue I have with Mt Gox. Just the sheer size of the rollback and the fact that they got themselves into a state where this is the only best solution.
69  Bitcoin / Bitcoin Discussion / Re: What have we all learnt from the Mt Gox incident? on: June 20, 2011, 11:19:40 AM

Hey, you. Over there. Yeah, the one who talks big and doesn't know jack.

Guess what the exchanges do every day they have a mini-flash-crash? That's right, there are plenty of smaller stocks that trade say at $12 that get smacked down to 30 cents. The HFT guys are the usual culprit, but all the trades get busted within a certain percentage. Mt. Gox is just following best practices here.

Sorry you don't get it - but you would if you really did 'work on a real exchange'.

Take my trading cards clerk, and get me a hoagie while you run that crap to the back office. Clerk Failpile.

I am not a trader, I develop trading systems software. I've worked on systems that cleaned up the mess when trades get busted, so my attitude is less cavalier than yours. Admittedly, I've dealt only with institutional and larger hedge fund trades that don't typically involve lightly traded securities, so these massive rollbacks could be a more common occurence than I thought.








70  Bitcoin / Bitcoin Discussion / Re: What have we all learnt from the Mt Gox incident? on: June 20, 2011, 05:00:42 AM
That many people here are extremely naive ...

1) thinking that rolling back trades will somehow "make things right",
2) assuming that all BUY trades involved only people buying the stolen coins, and therefore it is rightious to reverse all BUY trades,
3) assuming that Mt. Gox is a closed system and that nobody did any offsetting trades on Trade Hill or even offline as a result of the trades that cleared in Mt Gox (e.g. arbitrage)
4) what about people who sold into the panic at $10 but after reversal the market re-opens at $5? Was it fair to reverse their trades?

Those of us who have worked on real exchanges know that no matter how you do a rollback some innocent party will get screwed in the end.  Usually it is the small guys who get screwed, never the GS, JPMs or the Smith Barneys. Looks like the same thing will happen here. The 500K BTC guy would get most of his coins back but the small timers who traded on good faith during the plunge won't.

Remember: not every trade involved some lucky dweeb buying "stolen" coins at 0.1.

Hopefully few innocent people will be affected this time round.

If Mt. Gox wants to be taken seriously this should be the first and last time they do this kind of bullshit.
71  Bitcoin / Bitcoin Discussion / Re: TradeHill API was coded by amateurs on: June 20, 2011, 02:45:38 AM
I don't think it matters either way. Any properly written parser would use explicit conversion and not rely on conversion to the default types provided by JSON specs.
72  Bitcoin / Bitcoin Discussion / Re: 3 interesting replies found at mtgox website about the rolling back on: June 20, 2011, 02:18:42 AM
as for resale of stolen goods, this varies widely from one legal system to the next. but in almost all legal systems, regardless of the other rules, currency that is innocently exchanged for value is never taken back without a refund of the value. that's why it's called 'currency': because the current holder of it can dispose of it. financial instruments in general are treated differently from consumer goods.
A more extreme and simpler analogy ... If I get receive change from a store which later turns out to be stolen currency I shouln't have to give it back.

Further more, it is not clear yet that all sold Bitcoins were stolen. Some people cold have panicked and sold  into the plunge with "legit" coins.
73  Bitcoin / Bitcoin Discussion / Re: MTGox breach - how it really happened on: June 20, 2011, 01:48:53 AM

How do they know, in advance, if I used a simple password, without having it in cleartext themselves?
Probably by running a basic brute force attack using dictionaries and rainbow tables.

I once worked at a place and we had a security officer who periodically attacked our network passwords and forced us to change those he managed to break. It was pretty annoying of him.
74  Bitcoin / Bitcoin Discussion / Re: Since when was mtgox the regulartory agency for btc? on: June 19, 2011, 11:33:19 PM
Hmmm ... if I had been playing market maker and during the selloff bought BTC at $5 in my Mt Gox account and sold BTC for $6 in my TradeHill account (hoping to pocket the $1 difference), is Mt Gox also going to roll back my Trade Hill trade? Or am I supposed to just suck in my losses because one leg of my trade happened to be fradulent?

The above situation was hypothetical, at least for my case. I am just pointing out that by rolling back trades there are unintended consequences because people might have placed other trades elsewhere on good faith that their Mt. Gox trades had cleared and will be honored.
75  Bitcoin / Bitcoin Discussion / Re: DIRECT DOWNLOAD LINK FOR LEAKED MT. GOX ACCOUNT DATABASE (CSV FILE) on: June 19, 2011, 10:56:47 PM
Can someone try to crack user 16139 please?

I would like to know how strong the password is. I believe it is pretty strong but I could be wrong.
76  Bitcoin / Bitcoin Discussion / Re: Ideas for the Perfect Bitcoin Exchange on: June 19, 2011, 09:02:50 PM
I guess you are correct. I mean now on mtgox you can buy bitcoins for 0.01$, so that is where the trades happen Cheesy

Who needs built-in price protection mechanisms, not mtgox for sure. What a bad idea, right?
They tried that with some commodities futures exchanges. Remember in the 70's silver locking limit up when the Hunt brotheres tried to corner the market? The price protection rule could not keep up with the market and the first trade of the the day would lock the limit and nothing else got traded for the entire day. This repeated day after day until the price reached market value. Only then did the market unfreeze.
77  Bitcoin / Bitcoin Discussion / Re: Simpler Security Plan on: June 19, 2011, 04:35:33 PM
Sounds like a good approach for a hoarder, but what about someone who frequently needs to spend BTC?
78  Economy / Economics / Re: difficulty is holding back BTC value on: June 19, 2011, 02:48:33 PM
If everything were in a state of equilibrium, then what the OP stated would be true. As things currently stand, the Bitcoin economy is expanding and things are certainly not in equilibrium.

It may still be cheaper to produce a Bitcoin vs. mining, but if I had an immediate need for 50 BTC to buy something from Silk Road I would certainly not attempt to order parts from Newegg, build the miners and then wait several weeks for my 50 BTC to trickle in. Instead, I would first try to buy it locally (possibly from Craigslist), failing that I would go the Mt. Gox which would take 1 week max.

Yes, there still is some relation between the cost of mining 1 BTC and the price of 1 BTC on the open market, but it is just one of the many factors that determine the open market price. While there is a tendency for both prices to converge over the long term, in the near term you cannot really say what will happen.
79  Bitcoin / Mining software (miners) / Re: Windows won't detect more than 4 GPU is MYTH on: June 19, 2011, 11:38:09 AM
dishwara, I think you've forgotten that all this mining software was provided for free
There lies the biggest flaw of open source.
80  Bitcoin / Bitcoin Discussion / Re: Newly minted idiot on: June 17, 2011, 06:03:49 PM
The first ASICs would probably be GPUs modeled after the 5970 with the unneeded modules stripped out and extra SPs packed into the freed up area. Also, going down to a 20 nm process would allow for more transistors and less power. I could see a small US-based startup company with 2-3 million USD funding, 2 chip designers, 1 board designer and a couple of lab techs. coming up with this optimized GPU/ASIC in about 9 months. You basically need to figure out how to do all the brain work yourself and outsource the fab and packaging as efficiently/cheaply as you can.

An end product with 4 times the hashing rate of a 5970 and consuming 25% the power is very conceivable. That would just be the first cut.

The barrier to entry is not so high so you would probably see more than one company do this.

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