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241  Bitcoin / Bitcoin Discussion / Re: Blocks are still taking way too long. on: October 12, 2014, 06:31:47 PM
It is applicable if we use a centralized on line wallet.
Then you don't need Bitcoin.
242  Bitcoin / Bitcoin Discussion / Re: Blocks are still taking way too long. on: October 12, 2014, 06:27:07 AM
It would be useful to have a system where blocks were found more often but the reward was smaller. Say, one block every 30 seconds. The original worry was that miners wouldn't find out about the new blocks fast enough, and they'd waste effort building on top of orphaned blocks. But now that all useful mining is centralized, the big guys have enough connectivity to pass around their new blocks fast. As a miner, you want your new block to reach other big miners as fast as possible, and you want to hear about new blocks as fast as possible. So miners will cooperate in passing new blocks around fast, and all the big farms will send directly to each other.
243  Bitcoin / Bitcoin Discussion / Re: Blocks are still taking way too long. on: October 11, 2014, 06:21:33 PM
When we have a offchain payment system for small amounts, block times wouldn't matter.
With an offchain payment system for small amounts, Bitcoin doesn't matter.
244  Bitcoin / Bitcoin Discussion / Re: I have a Bitcoin debit card in my hands... on: October 10, 2014, 07:58:41 PM
The card is issued in Japan, and doesn't have my name on it (it says "TAYTWO POINTMEMBER").

One of these, right?
Quote
The numbers aren't raised. The back is in Japanese. Shift sent a letter with the card explaining these issues, and it's important to understand that it is a BETA PROGRAM. I'm frankly amazed that they've managed to get them out the door so quickly at all. They're working on issuing personalized card with their own design, but didn't want to hold up the Beta program. Awesome Smiley

The card costs money. I've honestly forgotten how much, but I want to say it was around $50. ...
That's not a debit card. It's a prepaid card. Presumably it's been preloaded with some amount of money. Maybe they'll refill it from your Coinbase account if you use it. Maybe not.  Here's the FAQ from the card issuer. There's a site where you can register the card, then read your balance. It may be that the people behind the Bitcoin scheme have already done that, and they're monitoring balances and refilling. Or not.

Incidentally, after one year, you'll be charged 1000 yen for that card.

Quote
Their settlement system leaves much to be desired. I have two transactions pending right now, and my Coinbase account has not yet been touched. The funds are spent from my Bitcoin account when the transaction settles 24-48 hours later. If I wanted, I could buy $500 worth of stuff then empty my Coinbase account, sticking Shift with the difference. It *is* a Beta, but this must be fixed before releasing to the public. If Shift is to survive, they must be able to effectively manage their exposure.
They may not even know when that card is used.

Quote
They ask for permission to spend unlimited funds from my Coinbase account.
What could possibly go wrong?
245  Bitcoin / Mining speculation / Re: Hash rate declining slightly in recent weeks. on: October 09, 2014, 05:36:08 PM
3  blocks to go, and it looks like the next difficulty adjustment will be about +1%.
246  Bitcoin / Mining speculation / Re: Mining no longer viable even at the industrial level on: October 08, 2014, 08:36:06 PM
It's a relatively obvious analysis. Most of the info is from "blockchain.info". There's no sign that the author has any inside information about the operation of big mining farms, or what they're paying for hardware.
247  Bitcoin / Mining speculation / Re: Next difficulty increase? on: October 08, 2014, 05:44:11 PM
We had a drop in the hash rate for about two weeks. That's why it's taking slightly longer to get the required number of blocks. Then the hash rate went way up. No idea why. Maybe one of the big mining farms was doing an equipment upgrade and shut down for the changeout.  The difficulty adjustment tomorrow will probably be 1-2%, much smaller than last time.
248  Bitcoin / Mining speculation / Re: Hash rate declining slightly in recent weeks. on: October 07, 2014, 09:35:23 PM
There was a drop that lasted for several weeks. That's not just noise from the rate at which blocks are found.

It's possible that some big hashing center was doing an upgrade, and they were shut down during the upgrade.
249  Economy / Speculation / Re: What will bring BTC price back up? on: October 07, 2014, 07:42:58 PM
Such as Chinese gov cancels the restriction to financial institutions dealing with Bitcoin.
There's discussion in China of reducing exchange controls on yuan. But if China reduces exchange controls, people with yuan in China won't need Bitcoin. The China bubble was because, for a brief period, Bitcoin was a safe, legal, remote way to convert yuan into dollars or euros. The previous legal approach was to get all your relatives to travel to Hong Kong every three months, loaded up with the legal maximum of yuan notes. This is a pain if you're not in Shenzhen.

If you have no idea what the above is about, you probably were screwed by the collapse of Bitcoin prices.
250  Bitcoin / Bitcoin Discussion / Re: A future of high transaction fees? on: October 07, 2014, 06:48:59 AM
If Bitcoin ever gets enough usage that the 7 TPS transaction rate is reached, fees will probably go up.  Miners have no incentive to adopt a larger block size, and every incentive to raise fees if they can.
251  Bitcoin / Mining speculation / Re: Hash rate declining slightly in recent weeks. on: October 07, 2014, 06:43:10 AM
Oh for god's sake, quit spamming you betting site.
Agreed.
252  Economy / Speculation / Re: For sale on Bitstamp: 13780 BTC at $300. on: October 06, 2014, 06:35:09 AM
How big was the dump six hours ago?
253  Economy / Speculation / For sale on Bitstamp: 13780 BTC at $300. on: October 06, 2014, 06:32:55 AM
Right now, there is a huge dump of 13780 bitcoins on Bitstamp, offered at $300. That's the current price.
254  Economy / Speculation / Bitcoin transaction volume in USD is surprisingly flat. on: October 06, 2014, 06:26:11 AM

Bitcoin transaction volume in USD.


Take a look at the last year of Bitcoin transaction volume in USD. There was the China bubble, a big spike and decline, and then the Mt. Gox manipulation/collapse, a huge but very brief spike. Then the transaction volume in USD settled down. For the last six months, it's been surprisingly flat.

What this means isn't entirely clear, but it does indicate that Bitcoin usage is not increasing.
255  Bitcoin / Mining speculation / Re: Hash rate declining slightly in recent weeks. on: October 05, 2014, 06:12:52 PM
Suddenly, in the last two days, the hash rate went way up. Somebody just brought substantial new mining capacity on line. Looks like the difficulty will not go down.

Any idea who has the new big mining farm?
256  Economy / Speculation / Re: im not happy on: October 05, 2014, 12:18:00 AM
Bsbs. 650 was the bottom told by "expert" while trolls call 400. So i buy buy buy. What now? What the fuck now?
You're the mark. This is a zero-sum game, and it needs a steady supply of suckers like you. The Bitcoin world thanks you.
257  Economy / Speculation / Re: Stop using the term "weak hands" on: October 04, 2014, 09:56:46 PM
I'll admit I had high hopes for btc, but the last bubble has no reason to repeat itself.
Very good point. The last bubble, from about $120 to $1100, was driven by the use of Bitcoin in China to get around China's exchange controls. Once the People's Bank of China stopped that, the price started back down.
258  Economy / Speculation / Re: why the bitcoin price is going down ? on: October 04, 2014, 09:35:58 PM
localbitcoins is still above $400 while sheeple are panicing while looking at the crappy btc-e/bitstamp small valuations
No, there are people on localbitcoins trying to sell Bitcoins above $400. Buy prices are as low as $289.

Those are just bids and asks that are far from the market, like the ones you see on any exchange.
259  Economy / Speculation / Re: Another $15 decrease and we're at 11months low on: October 04, 2014, 08:03:15 PM
Another $15 and we're below $300.
260  Bitcoin / Bitcoin Discussion / Re: My company can no longer take BTC. on: October 04, 2014, 07:30:00 PM
Merchants need POS apps, plugins, API's and shopping carts as Bitcoin remains volatile. They cannot price their goods and services in BTC directly and shouldn't be expected to need to manually change their prices every 10 minutes.
Right. They just need to automatically change their price once a minute.

The basic service Coinbase provides is that they'll guarantee a Bitcoin buy price to a merchant for a minute or two. This removes market risk from the merchant.
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