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242
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Bitcoin / Hardware / Re: BTCFPGA/bitcoinASIC/CAN-ELECTRIC - no BTC refunds expected, what now?
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on: February 07, 2013, 06:49:16 AM
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What makes no sense to me is why he actually issued a bunch of refunds...
Possibly because if he didn't - people would put through chargebacks anyway and then the banks would levy an additional 'chargeback fee'. Even if he didn't have quite enough money to cover it - presumably he'd be left with a smaller bank debt if he pre-empted the chargebacks by putting the refunds through. |
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243
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Bitcoin / Bitcoin Discussion / Re: How to tell Iran customers to get Bitcoin to pay the bill?
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on: February 05, 2013, 10:51:51 PM
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Iranians should run VPN services for Bitcoins, so we can all get Iranian IP addresses to run Bitcoin nodes on.
Then the Iranian Bitcoin scene will look much bigger than it is - and some Journalist will hype it.. and then.. I dunno.. we all get thrown in jail or something.
I would get an Iranian VPN as long as I could connect to a second vpn through the Iranian one to avoid the censorship. I would trust the Iranian VPN provider to not hand over my data to the US government more than anyone else. That's an aspect I hadn't considered. In all seriousness - selling of digital services seems the most viable way for Iranians to earn BTC at this point. I imagine it'd be hard to get FPGA or ASIC mining gear into Iran... and if there are any GPU miners there, they're surely not going to get much from now on anyway. |
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247
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Bitcoin / Hardware / Re: discount on Avalon ASIC - read this
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on: February 04, 2013, 01:28:45 AM
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Trade-Ins - Avalon will continue to honor our old customers providing trade-in programs of old generations units, FPGA, and in the future for first generation ASIC modules.
This strongly suggests that the trade-in credit is available only to people who are already Avalon customers. Do not assume that you can buy someone else's FPGA and trade it in. ASK Avalon. |
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248
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Bitcoin / Press / 2013-01-03 i-programmer.info - Hardware Mines Bitcoins Faster
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on: February 03, 2013, 11:50:53 PM
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Obviously, if you could get a big chip company to build a custom chip that computes hashes as fast as possible then you would have the edge on other miners - but this isn't likely to happen. An alternative is to use an ASIC, which is an integrated circuit that can be customized by modifying the interconnects rather than building an equivalent chip from scratch.
It seems to me that the author has confused ASICS with FPGAs :/ |
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249
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Bitcoin / Hardware / Re: Avalon ASIC users thread
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on: February 02, 2013, 02:44:23 AM
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Ouch.
I sure hope they deliver to Australia quickly... because I have a feeling I won't be running my Avalon for long.
I'll probably find a use for the case and sell off the modules to someone who has cheap elec :/
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252
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Bitcoin / Press / 2013-01-31 bordermail.com.au - Secret website harboured drugs smorgasbord, court
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on: January 31, 2013, 12:04:46 AM
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Secret website harboured drugs smorgasbord, court hears Steve Butcher 2013-01-31 http://www.bordermail.com.au/story/1270129/secret-website-harboured-drugs-smorgasbord-court-hears/?cs=12... Melbourne's County Court heard the black-market Silk Road had been described as a "certifiable one-stop shop" for illicit drugs. ... Prosecutor Morgan Brown told the court the website was accessed by software designed to enable online anonymity and a digital "virtual currency", Bitcoin, was used to buy goods. ... In what could be the first prosecution with Silk Road a major player, Ms Brown told the court that in two months from March last year Howard imported drugs 11 times. Ms Brown said Australian Customs and Border Protection Service officers in Melbourne and Sydney examined mail articles addressed to Howard at his Brunswick West home. ... Mr Jassar described Howard's involvement as without sophistication, complexity or any real planning. ... |
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254
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Bitcoin / Press / 2013-01-30 seekingalpha.com - The ECB Worries About Competition From Bitcoins
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on: January 30, 2013, 11:51:40 PM
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Stock market analysis website SeekingAlpha comments on the recent Bloomberg story re Bitcoin and the ECB. The ECB Worries About Competition From Bitcoins 2013-01-30 http://seekingalpha.com/article/1144971-the-ecb-worries-about-competition-from-bitcoinsHere is another one from the "you couldn't make this up" department (the ECB is a rich fount of those). The ECB is apparently worried that the digital currency bitcoins could ruin the reputation of central banks. Seriously. ... Professor Hanke is of course 100% correct. It has absolutely nothing to do with the reputation of central banks, it has everything to do with competition. ... Bitcoins are probably less useful for the particular applications mentioned above (bribes, slush funds, etc.), but they do represent competition for central bank issued money and they definitely are a thorn in the establishment's side. Expect more attacks on the currency to emerge. In the meantime, buying bitcoins has evidently been a very good idea so far -- the currency, although quite volatile, is one of the strongest in the world: |
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255
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Economy / Speculation / Re: Forthcoming Bitcoin article in Emirates Airlines in-flight magazine
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on: January 30, 2013, 08:10:33 AM
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Yes I felt slightly retarded trying to figure out what the pic was telling me. I'm sure the author knew what he was trying to achieve with that chart. Look at the chart through the eyes of the uninitiated. Their immediate response will be "whatever, seems to be too complicated". Yeah - but confusing the uninitiated is easy, without the extravagance of using nonsense. This one is just bamboozling even if you do have some understanding of Bitcoin transactions. |
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256
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Bitcoin / Press / 2013-01-29 lifehacker.com.au - Ask LH: How Does Bitcoin Work And Is It Safe?
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on: January 30, 2013, 05:56:56 AM
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This seems like a pretty well balanced answer to the question. Ask LH: How Does Bitcoin Work And Is It Safe? Alex Kidman 2013-01-29 http://www.lifehacker.com.au/2013/01/ask-lh-how-does-bitcoin-work-and-is-it-safe/Dear Lifehacker, I have seen Bitcoin as a payment option on some websites recently. Can you please explain exactly what it is? And is it safe to use? Thanks, Bitcoinfused ... It’s not entirely surprising that you’re confused by bitcoin, because there’s quite a bit to wrap your head around. ... The other important issue to consider with Bitcoin is that it is intended as an experimental currency. This isn’t like using, say, PayPal, where you’re trading in currency you understand and most likely hold. ... So are Bitcoins “safe” to use? It’s an interesting question with no absolute answer. The encryption within bitcoins make them theoretically impossible to forge, ... If you’re looking at a service that offers to sell you goods and services in bitcoin, you’re most likely looking at this stage at smaller level transactions, and for that, it seems a reasonable proposition. As an overall currency, if you were interested in trading, investing or harvesting large quantities of the currency, I’d be wary. Despite its rapid acceleration, Bitcoin is still a relatively immature currency. ... |
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257
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Bitcoin / Bitcoin Discussion / Re: The many faces of bitcoin
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on: January 30, 2013, 03:42:34 AM
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The cryogenics customer
- Most coins in a brainwallet - some controlled by a key self-tattooed under the tongue, just in case the memory is a bit foggy upon revival.
Heck - I'm so tired of waiting for Bitcoins to skyrocket, It's tempting to sign up and slit my wrists at the Alcor gates!
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260
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Bitcoin / Press / Re: 2013-02 emirates.com/open skies - goodbye cash – could bitcoin be the paperless
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on: January 30, 2013, 01:05:04 AM
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Something seems a bit confused/overly complicated with the "How do you make a transaction with Bitcoin?" graphic on page 78
Steps listed are:
1) Person B sends Person A his 'public address'
2) Person B adds his secret key to the message, then sends the transaction to the Bitcoin network for verification.
3) Person A responds with a message that includes Person B's public key, determined by using the pubilic address and the number of coins involved in the transaction.
4) The transaction sent to computers in the network and is added to the 'block chain' in a matter of minutes. This makes it part of the public record and ensures that Bitcoins cannot be double-spent.
I'm not entirely sure I even got their intended order correct - but what the heck is step 3 about?
This 'explanation' makes it seems like some online interaction is required from the receiving party after they've given their payment address...
Given that Person B both sends their public address - and 'adds his secret' key - it's not even clear if money is going from A to B or vice versa.
Perhaps this is meant to explain some more complex transaction where a possible refund address is given??
Worst attempted explanation I've ever seen for Bitcoin transactions!
Can anyone clarify what is going on with that graphic? Am I just reading it incorrectly?
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