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1801  Bitcoin / Bitcoin Discussion / Re: Small transactions? on: October 24, 2011, 01:06:22 PM
I'd love to see something like this too.
It's probably security concerns regarding cheap spam attacks on the network that have prevented development of better support for proper microtransactions, but perhaps also the fact that user interface convenience isn't currently a priority.

Spam attacks are only possible if the transaction clears, isn't it? If the transaction is reversed in X blocks because no nodes would accept it without a fee, then there would be no spam attack?
And I'm not really talking about microtransactions. If BTC ever hits $300, then sending 0.01 BTC or even 0.001 BTC isn't that unthinkable.

I don't know about the technical details of whether failed transactions can also be part of a spam problem.

If BTC exchange values were so high - then there would presumably be no problem for the devs to release clients that allowed low/no fees on 0.01, 0.001 BTC etc because the cost of spamming at those levels would be higher.   
The fee settings have changed in the past and can change again.
1802  Bitcoin / Bitcoin Discussion / Re: Small transactions? on: October 24, 2011, 11:49:31 AM
Alas, if I only had a large number of BTC to send.


Not knowing how the protocol works here's how I'd like it to work.  Wink

When you send a small transaction you can choose to pay fee or not. If you choose not to pay fee you specify how many blocks you're willing to wait for it to clear. If your transaction isn't handled when that number of blocks have passed, your coins are returned to the address you sent it from.

Example:
I want to send a small amount, and not pay any fee, so I'll specify that I'll wait 36 blocks, or about 6 hours for the transaction to clear.

I'd love to see something like this too.
It's probably security concerns regarding cheap spam attacks on the network that have prevented development of better support for proper microtransactions, but perhaps also the fact that user interface convenience isn't currently a priority.
1803  Bitcoin / Bitcoin Discussion / Re: We're under attack on: October 24, 2011, 11:17:36 AM
This is barely worthy of being called an attack, this is just bitcoin hitting up against pre-existing banking regulations and failing to sneak under the radar of broader financial protections put in place to protect consumers, stop laundering etc. (and arguably also designed to protect existing commercial interests)
A real attack would be regulators specifically moving against bitcoin.

1804  Bitcoin / Press / Re: Bitcoin press hits, notable sources on: October 22, 2011, 01:48:38 AM
Given that Adrianne Jeffries betabeat reports seem to get a bit of attention from other journalists - nice to see her follow up with something a bit more detailed about the price crash and mining profitability.


Quote
Bitcoin Mining Still Profitable for Some; Hardcore BTCers Keep the Faith

Adrianne Jeffries
2011-10-21

http://www.betabeat.com/2011/10/21/bitcoin-mining-still-profitable-for-some-hardcore-btcers-keep-the-faith/
1805  Bitcoin / Press / Re: Bitcoin press hits, notable sources on: October 21, 2011, 02:55:17 PM
"Hack This Zine"    V.13 FALL 2011 (october) "People, like information, want to be free"
starts out talking about the Occupy Wall St protests and has a pretty comprehensive intro piece on bitcoin within the Tools section
(starts on page 33)

https://hackbloc.org/zine

Quote
BitCoin: Dangerous to Surveillance
State, Useful to Activists

https://hackbloc.org/svn/htz/HTZ13_DRAFT_READ.pdf

Here's a mirror of just the bitcoin section:
http://themonetaryfuture.blogspot.com/2011/10/bitcoin-dangerous-to-surveillance-state.html


http://thedailyattack.com/2011/10/22/bitcoin-dangerous-to-surveillance-state/
1806  Bitcoin / Press / Re: Bitcoin press hits, notable sources on: October 21, 2011, 02:35:59 PM
Quote
Bitcoin POS system developed
A point-of-sale system, based on a VeriFone terminal, which enables retailers to accept virtual currency Bitcoin has been developed.

2011-10-21

http://www.finextra.com/news/fullstory.aspx?newsitemid=23083
1807  Bitcoin / Press / Re: Bitcoin press hits, notable sources on: October 21, 2011, 02:18:26 PM
Quote
Virtual currencies
The bursting of the Bitcoin bubble

2011-10-21

http://www.economist.com/blogs/babbage/2011/10/virtual-currencies

In May Rick Falkvinge, the founder of the Pirate Party in Sweden, famously blogged that he was converting all of his Swedish-crown savings to Bitcoins. Five months on, he tweeted that after “hoarding” Bitcoins until they hit $18 or so, he had moved to a “buy-and-sell pattern”. Mostly sell, it seems. “I currently don't hold any,” he admitted.

...

Those who have remained faithful to Bitcoin claim to be unfazed by such wild market swings. Volatility, they argue, is hardly surprising for a relatively inchoate, newfangled currency, especially against the backdrop of economic turmoil.
Bitcoin's stumble was not, then, entirely unanticipated. But it probably wasn't hoped for, either.

1808  Bitcoin / Press / Re: Bitcoin press hits, notable sources on: October 20, 2011, 11:11:13 PM
Quote
Louisiana Makes It Illegal To Use Cash For Secondhand Sales
from the the-other-side-of-the-bitcoin dept

2011-10-19

http://www.techdirt.com/articles/20111019/17424316421/louisiana-makes-it-illegal-to-use-cash-secondhand-sales.shtml


"You can understand why law enforcement wants that, but just because law enforcement wants details of your private transactions, it doesn't mean you should be blocked from using cash. And people wonder why there was so much interest in Bitcoin (even if Bitcoin itself is rather flawed)."


discussion thread here: https://bitcointalk.org/index.php?topic=49167.0
1809  Bitcoin / Bitcoin Discussion / Re: Casascius Bitcoin POS system on: October 20, 2011, 08:32:06 AM

You're just trolling me now aren't you? Do you not realize that you don't need to even worry about Bitcoin from the POS level and that that can all be handled by the backend?

how do you think gift cards work? Do you think they needed to reprogram every credit card processing machine in the entire world? Or is it much more likely that they just set up a backend to return some data?

Also, don't try to tell me that you can't get data back from a request by a credit card processing machine. That's why it's called a 'request'. Especially in the case of debit cards, it asks the server if the user has or does not have enough funds to cover. Why couldn't that just as simply be a MtGox account with a mtgox payment server running?

I understand the novelty of dealing with bitcoins directly, but it's a waste of time. It's like requiring the customer or waiter to cook the food instead of just ordering it to the kitchen.

Quote
...this is a much simpler and much more scalable solution for main stream acceptance of bitcoins

For something that is 'much simpler' it sure seems more complicated to understand what you're getting at and how it would work.
So you're proposing a system for paying with bitcoins (indirectly) *if you have an account with a specific provider* such as for example mtgox ?   
What does the merchant have to do to support each new popular bitcoin wallet provider which springs up? 
What costs are there in your solution for the merchant and for the wallet provider?

I still don't get where the account-balance checking/authorisation logic would reside.
The 'local middle-man processing service' sets it up to talk to mtgox APIs etc?
Does this mean your solution is completely independent of the banks - or because the POS device already talks to the banks, it has to go through their systems?

What exactly does the customer give to the merchant, a card with the provider-specific account code plus what?..  name, expiry, security code just like a cc?

Pragmatic as it may be to get some merchants on board who are shy of the additional hardware - it feels to me like the casascius POS would be the much nicer long term solution (for the provider/exchange-agnostic bitcoiner anyway)




1810  Bitcoin / Bitcoin Discussion / Re: Chase Bank to offer deposits for MTGox on: October 20, 2011, 07:45:03 AM

Now, I'm going to try to do this one more time. MtGox showed me a way to deposit USD into my account with it showing up quickly. Great! Now, I want to withdraw funds from MtGox and have it show up at my bank within the same amount of time. If they can't, then I say that their only looking out for themselves. Get your USD here quick, but we'll still take our sweet time giving your funds back to you. That's the point I was trying to make from my very first post on this thread.


I think you might be being unreasonable.   The existing byzantine banking system doesn't necessarily have the sort of logistical symmetry that suggests just because you can do something in one direction, you can as easily do it the other way. 
It's better that mtgox picks the low hanging fruit in order to give incremental improvements than to hold back until they have a comprehensive solution.

It's pretty easy to scan a csv/account statement for mtgox account codes and deposit amounts.
Is it as easy to submit a batch of transfer requests for processing? 
I dunno - for all I know it may take a special batch submission arrangement with the bank unless you want to sit in front of some clunky web interface to do it manually.
1811  Bitcoin / Bitcoin Discussion / Re: Mass DDOS part 2 on: October 20, 2011, 07:22:43 AM
I'm really interested in hearing people's theories on why this is taking place. Especially the more rationally argued, non-conspiratorial ones.
lol'd
your looking for a reason that does not involve somebody secretly planning this mass action against bitcoin.

that would be easy then we just look for who is openly talking about ddos'n all the major pools and exchanges.

oh.. surely it's someone who is very *pro* bitcoin.  They're worried that if the network isn't perceived to be at risk, too many miners will switch off their rigs due to the low exchange rates. By attacking the pools like this they're hoping that more people will keep a proportion of their mining power running to protect the blockchain.
The last thing bitcoin needs while the price has tanked, is a successful 51% attack.

Ok - so I just plucked that theory from the ether, but it works for me better than assuming it's some nefarious bank/paypal type operation.
(I really don't think they're that concerned with bitcoin at the moment)

Either that - or it's just 'for the lulz'

1812  Bitcoin / Press / Re: Bitcoin press hits, notable sources on: October 19, 2011, 10:58:21 PM
Quote
Who Wants to Gamble With Bitcoins on Facebook?

Louis Bedigian
2011-10-19


http://www.benzinga.com/tech/11/10/1997687/who-wants-to-gamble-with-bitcoins-on-facebook

"The open-source virtual currency could be used as a gambling platform on the world's leading social network.
That is, assuming Crowdpark Co-Founder and Chief Product Officer Ingo Hinterding has his way."

"Earlier today, Crowdpark announced that it had received $6 million in new funding from Target Partners and Earlybird Venture Capital."


Interesting.. but I don't see how they'd get this past facebook's PR team let alone various government regulators.

So apparently crowdpark was founded in 2009 and their facebook product 'Bet Tycoon' has "around half a million monthly active users" (source: AppData.com)
They also intend to target Android & IOS.

I'm skeptical that they'll be able to use any form of virtual currency which is convertible to national currencies - but even if they don't manage to bring the bitcoin aspect to facebook - the fact that they're keen on bitcoin gives hope they may provide other platforms/games which use it.


EDIT: Actually - the quote from their founder just says "Personally, I would love to do that, I find the whole concept around Bitcoin [to be] very, very interesting"..   that's not really an endorsement or statement of the business direction.  I suspect it may be the benzinga writer is more the one who is most keen on bitcoin :/








1813  Bitcoin / Press / Re: Bitcoin press hits, notable sources on: October 19, 2011, 02:36:17 PM

Quote
1814  Bitcoin / Press / Re: Bitcoin press hits, notable sources on: October 19, 2011, 06:14:30 AM
Quote
Bitcoin prices plummeting, costs more to mine the digital currency

MIKE FLACY
2011-10-17

http://www.digitaltrends.com/web/bitcoin-prices-plummeting-costs-more-to-mine-the-digital-currency/

How can this be a notable source.   they dont even spell as well as I do.

It has a reasonable alexa rank, and the article is showing up at yahoo:  http://news.yahoo.com/bitcoin-prices-plummeting-costs-more-mine-digital-currency-052042461.html
Notable doesn't equal 'quality' I guess, but I didn't see the spelling errors you're talking about.

1815  Bitcoin / Bitcoin Discussion / Re: Media : Bitcoin is Done on: October 18, 2011, 07:35:05 PM

I've noticed the journalism around bitcoin often seems pretty incestuous that way.
It looks like in this slew of articles, it might have been Adrianne Jeffries' little snippet in Betabeat that set the tone;
the reddit user's quote she used has ended up in a few articles.

Why some random redditors quote is newsworthy I don't know.  
1816  Bitcoin / Press / Re: Bitcoin press hits, notable sources on: October 18, 2011, 07:15:33 PM
Quote
Bitcoin prices plummeting, costs more to mine the digital currency

MIKE FLACY
2011-10-17

http://www.digitaltrends.com/web/bitcoin-prices-plummeting-costs-more-to-mine-the-digital-currency/
1817  Bitcoin / Press / Re: Bitcoin press hits, notable sources on: October 18, 2011, 06:53:27 PM
Quote
The End of Bitcoin Part II

Tim Worstall
2011-10-18

http://www.forbes.com/sites/timworstall/2011/10/18/the-end-of-bitcoin-part-ii/

"So I’ll stick with my earlier prediction: Bitcoin isn’t going anywhere very much except into that dustbin of interesting, tried but failed ideas."

1818  Bitcoin / Press / Re: Bitcoin press hits, notable sources on: October 18, 2011, 02:09:43 PM
Quote
Bitcoin Value Drops Under $3 (€2) After Numerous Hacking Operations

Eduard Kovacs
2011-10-18

http://news.softpedia.com/news/Bitcoin-Value-Drops-Under-3-2-After-Numerous-Hacking-Operations-228299.shtml
1819  Bitcoin / Press / Re: Bitcoin press hits, notable sources on: October 18, 2011, 02:08:12 PM
Quote
Bitcoin's value falls to 10 percent of June peak

Duncan Geere
2011-10-18

http://www.wired.co.uk/news/archive/2011-10/18/bottom-drops-out-of-bitcoin

"If you subscribe to that perspective, and want to pick up some bitcoins dirt cheap, then now's probably a good time. The bitcoin community will likely be happy to have you."
1820  Bitcoin / Press / Re: Bitcoin press hits, notable sources on: October 18, 2011, 02:06:38 PM
Quote
Price of Bitcoin Still Dropping, Falls Below the Price of Mining

Adrianne Jeffries
2011-10-17

http://www.betabeat.com/2011/10/17/price-of-bitcoin-still-dropping-falls-below-the-price-of-mining/
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