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Economy / Currency exchange / Re: MTGOX <-> BTC BID/ASK
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on: February 19, 2014, 08:14:18 AM
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If I want to sell my Gox coins to another Gox member how exactly does this work? Can someone guide me through the procedure. Here is my account: http://imgur.com/a/MoufWI mean how do you transfer internally when the coins go through the blockchain? Are you telling me the transfer bypasses the blockchain? Is there a procedural loophole I don't know about? With trade values hovering in the sub-$300 I'm losing my confidence in Tokyo and will probably offload them before their exchange crashes. Looking at 60 to 70% but slightly negotiable to some extent. It's not a loophole but a feature(and my guess is, this feature is what made it more difficult for Gox to fix the ongoing problem). When you withdraw you coins, if you input an internal bitcoin address (i.e. address with private key held by Gox), you will be presented with options: do "Open Transaction" or not. the "Open Transaction" is unchecked by default. if you choose to go with Open Transaction, you tx will go through the blockchain, but otherwise gox will handle it internally by just updating their DB. And currently internal transaction is not affected as stated by Gox.
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Bitcoin / Development & Technical Discussion / Re: P2P asset freezing protocol for Bitcoin
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on: November 15, 2013, 08:52:28 AM
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use of leverage is indeed very useful, but i think it doesn't belong in the protocol. it is trivial for sites to allow their own built in leverage. for example a fiat exchange can allow you to buy 10x bitcoins and only require you to hold 10% funds as collateral for margin. for your gambling example, https://dicenow.com already has investor selectable leverage from 0.25% to 30% risk per bet. it doesn't make sense to add this to the protocol, because there are too many variables unique to each use case. how much leverage to use? what are the situations in which the site can perform a margin call and force liquidate the user? these are best left to each specific application's use of bitcoin. also, you have to trust the operator 100% regardless, because they need the power to liquidate your position at any time (exchange: due to sharp movements in in price) (gambling: whale won, you lost) and take your coins. there is no purpose in setting up some mutual trust account since alice requires complete control over bob's onsite coins. it would only accomplish to show that bob isn't using dangerous amounts of leverage on alice's site, and actually has coins in reserve. does that really matter though? if bob wants to take ridiculous risks, let him. everyone else can keep their unleveraged coins safe in a cold wallet, or some other productive use generating returns (instead of frozen) I see what you mean, but in JD's case, everybody would just use the max leverage, then nothing would change. Because it doesn't necessarily raise the risk, as most people don't bet high. Also this could be used in all kinds of cases, to name two: 1. P2P trading: the seller freezes btc before mailing stuff --> buyer gets stuff and send btc to real addr --> seller unfreezes the original btc. 2. IPO oversubscription. One point of Bitcoin is to replace the greedy Wall Street with pure program, this is just one example.
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Bitcoin / Development & Technical Discussion / P2P asset freezing protocol for Bitcoin
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on: November 15, 2013, 08:08:44 AM
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P2P asset freezing protocol for Bitcoin.
There are some scenarios that the first party gives bitcoins to the second party just to let then freeze the BTC, in which requires unnecessary trusts. For example on Just-Dice.com, investors send way more BTC than the house needs to get more profit share, and the operator holds a huge amount of BTC in code storage just to freeze it.
This problem can be solved by "freezing address", from which the BTC can only be "spent" back to where they are from. For example, if Alice needs to freeze some amount of BTC of Bob's. Alice creates a freezing address, which can be verified by any one that it is a freezing address. Then bob verifies the address and send the BTC to that address. At this point, both Alice's and Bob's private key are required to spend the BTC, but Alice has to option to abandon her right by send back the BTC to Bob's original address, which unfreezes the BTC.
Cryptography is not my field but my guess is, with the bitcoin script system this can be done. Is this kind of system proposed before, or is it somewhere on the roadmap?
EDIT: In the case of Just-dice.com, investors would have to deposit to two addresses, one for freezing and another with much smaller amount for investing. Basically you make you btc frozen by the operator in exchange for the right to invest. For example:
Old system: Total investment: 10,000 Max profit: 10,000 * 1% = 100 Your investment: 100 Your max lose(per bet): 1 Your trust the operator with: 100
New system: Total investment: 1,000 Max profit: 10,000 * 10% = 100 Your frozen btc: >=100 (this 10x freezing rate is just an example, it's up to the operate to decide.) Your investment: 10 Your max lose(per bet): 1 Your trust the operator with: 10
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Economy / Speculation / Re: false signal resulted rally in China, and it won't stop.
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on: October 23, 2013, 05:41:23 PM
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I was going to post something like this, but then I thought, hey, it's that obvious?
A company like Baidu, posting nothing but a message, showing nothing more than an address.
Now they accept BTC, how? via manual crediting? I'm not saying the news is not authentic, I'm just saying it must be a lot less significant than it sounds like.
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Economy / Service Discussion / Re: MtGox BTC withdrawal stuck.
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on: October 22, 2013, 04:29:33 PM
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How large were the BTC withdrawals everyone made? (If you are okay discussing) Not much [1BTC-10BTC], but I was planning to sell it on another exchange, and now I missed the best timing.
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Economy / Service Discussion / Re: MtGox BTC withdrawal stuck.
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on: October 22, 2013, 04:27:07 PM
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My withdrawal is stuck too. There's another discussion about the problem here. See if you can find your transaction id in the list here: https://data.mtgox.com/api/0/bitcoin_tx.phpThere are two fields to each transaction, "hash" and "tx". You can copy/paste the "tx" field, which is the raw transaction in base64, convert it to hex, and then use https://blockchain.info/pushtx to re-submit the transaction. From there you can get additional information on the problem. On the other thread, one of the inputs to his withdrawal was already spent ("An outpoint is already spent", double-spend). In my case, I got "Unable To find all tx inputs" (3 of the 4 tx inputs were good, but one was not). Thanks for the info, I don't even know the tx, because I forgot to save the tx string. Now the only thing I know is the output address.
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Economy / Service Discussion / MtGox BTC withdrawal stuck.
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on: October 22, 2013, 12:49:23 PM
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Anyone else getting this?
I payed the 0.005BTC fee, it's been hours, nothing is happening even on blockchian.info
They gave the crap like " Few BTC withdrawals are delayed and the transaction should eventually go through . We will update you once the transfer is complete."
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Economy / Gambling / Re: Casinobit - LIVE ROULETTE - [INVEST] - BEST CASINO OF 2013
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on: August 17, 2013, 06:05:59 PM
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Well, I successfully withdrew my earnings, 7.06 BTC, I think I'd rather keep everything in my own wallet until everything is resolved.
I think I may be the opposite of most people, I don't like to jump to the "scam" conclusion as soon as one person offers some "proof." With all the scam accusations always flying around and even a couple scam whistle-blowing sites that list pretty much any site that is involved in BTC, I think people mostly lean towards scam right from the get-go. Some even seem like they WANT things to be scams... Don't misinterpret what I'm saying, caution is necessary, especially dealing with BTC, but there is a line between cautious and paranoid. A warning about dealing with caution can also quickly escalate into a witch hunt.
Issues have been raised, re-raised, repeated, and rephrased about whether this is a ponzi. Any more will be beating a dead horse. Any person being smart about investing their BTC have everything they need to make an informed decision at this point. My decision: withdraw and wait. My reason: DDOs attack and current high probability of a substantial portion of the bankroll getting withdrawn in a short time period.
Casinobit, have you considered asking the community for suggestions about dealing with the attack? This is a tech-savvy bunch after all. Showing the invest script would also help, if it won't compromise the security of the site. You really haven't done much besides deny allegations, proving them wrong would go a long way. I can't see a reason not to defend yourself, unless there is nothing to defend.
To the operator: why there is no clear explanation of how is the profit calculated? The fact that people make a lot more money that expected is scaring. The money is either from gamblers or from other investors.
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Economy / Securities / Re: [BTCT.CO] [IPO] [FAQ]BTCGARDEN MINER---Eyes to the horizon
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on: August 05, 2013, 05:53:43 PM
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Chinese government just shot a guy to death last month since they thought he runs a Ponzi scheme
I see what you're talking about, there was a guy got executed, and there were a lot of protests, because people think he didn't deserve death penalty, because he didn't get to see his family before executed, and probably because we don't have judicial independence here. But he was running a Ponzi scheme. I have no interest in defending the Chinese government but your words are misleading.
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Economy / Securities / Re: [BTCT.CO] [IPO] [FAQ]BTCGARDEN MINER---Eyes to the horizon
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on: August 05, 2013, 05:16:22 PM
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I am interested in the last sentence: 2 实在不想跟英文贴的股东可以等一等,稍后我们可能会有专门的股东版,所有的股东会从邮箱收到进入的密码 This contains zero interesting information: "Shareholders who really do not want to follow the english thread, please wait for the to be opened dedicated board. you'll get a password for that board via email." To summarize, he was just saying: He'll do updates here rather than over there, and asked not to start new threads regarding IPO there. there will be a dedicated board on btcman.com for Chinese shareholders.
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Alternate cryptocurrencies / Altcoin Discussion / Re: [XPM] Working on a GPU miner for Primecoin
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on: August 04, 2013, 04:49:16 AM
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Depends on speed. We know sieving is running about 25x, but how much of the CPU time was used for sieving and how much for fermat testing? Let x = CPU sieve time and y = CPU Fermat time. If x=y (50/50 split) then GPU = 2% for 52% of normal time = 92.3% speed increase. If x=9y (90/10 split) then GPU = 3.6% for 13.6% of normal time = 635% speed increase. if 9x=y (10/90 split) GPU = .4% fo 90.4% of normal time = 10.6% speed increase. These are extremely rough figures, communication times between GPU/CPU will also apply. Maybe he'll solve Fermat testing on the GPU and get a full 2500% speed increase. Short answer: too many current unknowns.
I did a similar calculation, but then Koooooj@reddit pointed out that I was wrong. Because with a much powerful sieve, CPU gets less test to do for fixed number of output. for example (with made up numbers): before: 10000Numbers ---sieve--> 100Numbers ---test---> 1Number after : 10000Numbers ---sieve--> 10Numbers ---test---> 1Number this way, even we don't speed up the execution of Fermat test, the test time is down to 10%. But he's comparing apples to oranges. If sieveing speed is increased 25x, then you need different parameters to sieve deeper. Also, where does he get these numbers? 10000 seems extremely small, 100 is 1%, so we are to believe the CPU sieve is 99% effective? The GPU sieve is 99.9% effective? There's a lot of questions that need to be asked here: What is he using for h 0? What is he using for c? What is he using for e? What is the first sieving prime? What is he using for P s? I'm sorry, but those number he's tossing out look made up, with no proof to back them up. And I made up those number just to explain the idea, not him. This is just another possibility, GPU could still be as slow as 2x
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Alternate cryptocurrencies / Altcoin Discussion / Re: [XPM] Working on a GPU miner for Primecoin
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on: August 04, 2013, 03:31:11 AM
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Depends on speed. We know sieving is running about 25x, but how much of the CPU time was used for sieving and how much for fermat testing? Let x = CPU sieve time and y = CPU Fermat time. If x=y (50/50 split) then GPU = 2% for 52% of normal time = 92.3% speed increase. If x=9y (90/10 split) then GPU = 3.6% for 13.6% of normal time = 635% speed increase. if 9x=y (10/90 split) GPU = .4% fo 90.4% of normal time = 10.6% speed increase. These are extremely rough figures, communication times between GPU/CPU will also apply. Maybe he'll solve Fermat testing on the GPU and get a full 2500% speed increase. Short answer: too many current unknowns.
I did a similar calculation, but then Koooooj@reddit pointed out that I was wrong. Because with a much powerful sieve, CPU gets less test to do for fixed number of output. for example (with made up numbers): before: 10000Numbers ---sieve--> 100Numbers ---test---> 1Number after : 10000Numbers ---sieve--> 10Numbers ---test---> 1Number this way, even we don't speed up the execution of Fermat test, the test time is down to 10%.
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Economy / Securities / Re: [BTCT.CO] [IPO] [FAQ]BTCGARDEN MINER---Eyes to the horizon
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on: August 03, 2013, 08:23:00 AM
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Looks like it will be through in about an hour or less perhaps last rush always gets a bit of a powerup yup <3 Chinese business Just added some more to my portfolio by trading one share of Chinese Company 1 for 240 shares of Chinese Company 2... I'd do the same, I don't see why AM should be worth 1/5 of all the coins to be mined.
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