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2101  Economy / Economics / Re: Winkelvoss ETP could become THE pricing mechanism for BTC on: July 16, 2013, 07:29:34 PM

My understanding was never amiss on this, though I've been quoted out of context in order to make it appear that it was.
(I did maintain the "20% backing" descriptor as used by molecular without correcting it on first use to keep the response in context.)  I agree it would have been a good point to work out definitions of what "backing" means, because it looks to have led to some confusion by others further in the thread, though it seemed to be getting off the point at the time, as it does now as well.  
I trust this is better understood by everyone now?  The huge difference between 100% backing by .2 Bitcoin and 20% backing by one share which merits all this recrimination?

This is why I don't get into arguments over details with these shitbags. If they want to buy "shares" of bitcoins when its easier to just buy the actual thing, I'd rather just call them out for how stupid the general concept is.

Not everybody has the same technical skills, motivations, and ideology as you.  That doesn't make them shitbags or stupid.

And no, I won't be selling my bitcoin to buy shares.  But I am able to step outside of my little world and see how it might be useful for many people for many different reasons.  The fact that you are unwilling or unable to see any of these as anything but stupid shows just how narrow minded you are.

People like you give anarchy a bad name.  You are trying to act like an authority when you say your way is the only way.
2102  Bitcoin / Pools / Re: [1100GH/s] p2pool: Decentralized, DoS-resistant, Hop-Proof pool on: July 16, 2013, 07:21:03 PM
Ok sorry if these answers are somewhere in the 306 pages of this post, I did not read them all.

Is the real pool site www.p2pool.org? The reason I ask is, the Wiki talks about needing to run the wallet program with some arguments, and a p2p program. The .org site says you can mine with just the wallet address as your user name.

I'm also interested in mining several coins(one a day depending on value) with your site and was wondering if that is a bad idea, it sounds like my return goes up the longer I mine a particular coin.

Thanks
Rotor

If you want to run your own node, you need bitcoind and the p2pool program.  If you want to connect to a public node, you can just use your wallet address as your user name.  If you run your own node, you can merge mine any coin that supports it.
2103  Bitcoin / Mining / Re: Why is total hash rate dropping so much? on: July 16, 2013, 07:18:54 PM
For earnings prediction, http://www.bitcoinx.com/profit works pretty good.

Just make sure you bump up the starting difficulty to account for what it may be by the time you actually have the hardware in hand.
2104  Bitcoin / Pools / Re: Help me pick a pool on: July 16, 2013, 07:17:36 PM
Because you can't point that much hashing power at your Bitcoin-QT client.

Why is that? Sounds incredible.

You need some lighter weight software to proxy for you.  If you don't have a proxy to throw away most of the results, you will keep bitcoind too busy to do the other things it needs to do.
2105  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: July 16, 2013, 07:16:07 PM
i've been trying to buy USBs for a week, the backorders everywhere (direct, btcguild, group buys) are getting really annoying. As a shareholder, I hope we can ramp up supply soon.

Try ebay Tongue

if i can't buy them, a lot of people can't. what's that mean then?

It means they were all bought by resellers who are now selling them on ebay and through other venues.
2106  Economy / Speculation / Re: It's going to blow... on: July 16, 2013, 07:14:42 PM
maybe he is buying at gox and selling at other exchanges


Buying @100 and selling @90 ? I hope he has a good strategy Grin

Or maybe just a whale cashing out Smiley

1.  Drive price up on MtGox, down on others.
2.  Wait for people to assume price has decoupled due MtGox's USD delays.
3.  Rumors of MtGox dying will cause a selloff on other exchanges.
4.  Buy cheap coins on other exchanges.
5.  MtGox gets caught back up on USD withdrawals.
6.  Laugh all the way to the bank.
2107  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore on: July 16, 2013, 07:07:49 PM
Bitcoin is currently inflating at a 12.5% yearly rate

I'm not sure where you got that figure.

Basic math.

This year (2013) aprox. BTC1,312,500 will be minted, those are being added to the BTC10,500,000 minted until the end of 2012, so at the end of the year you will have around BTC11,812,500

That's a yearly inflation of 12.5%

In 2014 it should be around 11%, in the following years it will decrease until aprox. 9% (2016) until it falls to 4% in 2017 because of the next reward halving.

Yes, surprise, Bitcoin the deflationary currency its in a heavily inflationary phase and it will be for the next decade. Good thing is that the inflation is predictable and immune to third party manipulation.

Gotcha. What you referred to as inflation, I see as increase in supply.

I tend to think of inflation as a function of value, as in how much of a currency is required to buy something.

With fiat currencies, inflation is usually measured by indices covering everything from wages to fuel prices. It takes more USD each year to buy a gallon of gas or hire a laborer for an hour.  Bitcoin is referred to as deflationary because it takes fewer and fewer coins each year to buy something, be it an ASIC miner, an American dollar or a pound of herbs.

You are talking about price inflation.

Rampion is talking about monetary inflation.

Both are correct uses of the term, and both talked about regarding fiat currencies.

Also, wages have not been keeping pace with food and energy price inflation, so it's hard to back up the claim that the price of labor is inflating.
2108  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: July 16, 2013, 06:56:20 PM
i've been trying to buy USBs for a week, the backorders everywhere (direct, btcguild, group buys) are getting really annoying. As a shareholder, I hope we can ramp up supply soon.

Try ebay Tongue
2109  Economy / Service Discussion / Re: 0.25 BTC Bounty - Show me a Mt Gox USD Withdrawal :) on: July 16, 2013, 06:50:52 PM
They are sending withdraws, they are just backlogged.  They are able to fulfill withdrawal requests, it will just take time.

And yet this very thread is about a total of 0.75 BTC unclaimed bounty vs showing a successful withdrawal.
You'd think someone would come up try and claim that money.

(sorry for condescending tone)

Right... a bounty for a withdrawal started less than 8 business days ago when MtGox said it would take several weeks to get caught on on the queue before they can deal with new requests.

(sorry for throwing reasonableness in your face)
2110  Economy / Speculation / Re: Yet another analyst :) on: July 16, 2013, 05:52:24 PM
We just like to compare I guess.
On hourly daily SMA20 is also similar. Price was spot on it for 2 weeks before we went down, than on top of envelop and then down below envelop as price tuched SMA200 again.
Not prediction, just observation

IMO this market has too many small bot trades for SMA to be useful.  Weighted is the way to go.
2111  Bitcoin / Alternative clients / Re: USB Flash Drive storage requirements ? – LITE Client vs. FULL on: July 16, 2013, 04:48:30 AM
For the reference client, blockchain/chainstate/index files are currently around 11.5 GB and the remaining files should be just a few megabytes.

In case you want to estimate future growth, historical values for blockchain size are here:
http://blockchain.info/charts/blocks-size?timespan=all
2112  Economy / Service Discussion / Re: 0.25 BTC Bounty - Show me a Mt Gox USD Withdrawal :) on: July 16, 2013, 04:23:48 AM

I do not work for Gox.  I've just been around long enough to know that they don't move at the pace most people expect them to move.  Improvements could be made here.

You, however, are exaggerating.  The outage was 2 weeks.  There outage is over, but there is a large backlog of withdrawals that they are working through.  I have not seen any claims that cancelled wires were not made available to trade.  I have seen several claims of the converse (people cancelled withdrawals, bought btc, and then withdrew).  They have already clearly explained the situation with the press releases I linked.

It's been 7 business days (counting today) since withdrawals resumed, and when they resumed them they estimated it would take several weeks to work through the log.  You people have no patience.

What is happening with Mt.Gox is unprecedented, history is not an indicator of future performance as you are suggesting.  May I remind you that you are talking about a incompetent CEO who told authorities that his business neither exchanged currency nor was a money transmitter.  

"In particular, Karpeles answered no to two important questions: “Do you deal in or exchange currency for your customer?” and “Does your business accept funds from customers and send the funds based on customers’ instructions (Money Transmitter)?”

http://techcrunch.com/2013/05/16/mt-gox-dwolla-account-money-seizure/

I'm sure with his incredible leadership Mt.Gox can handle the avalanche of shit coming their way.  

Unprecedented huh?
SEPA withdrawals were blocked/delayed for a month or more.
Dwolla withdrawals were blocked/delayed for a month or more (months before the account was finally closed).
They have had several banks accounts closed over the years, including one that lead to a very public court case in France.

And this is one reason why it takes them so long to respond.  People send daily emails which results in 10 times the volume to work through in their email queue.  I'm glad (but not surprised) to hear that your issue has been resolved.

No offense, but you're starting to sound like Baghdad Bob.

Gox has been extremely derelict in communicating with the people to whom it owes hundreds of thousands of dollars. If they gave satisfactory answers to the first email, customers wouldn't need to pester them over weeks and months. To my knowledge, they never even issued an official statement about the Dwolla matter after the initial, "We don't know anything about it." The other "official" statements have been clear as mud.

Questioning the veracity of their claims is not FUD at this point, it is a legitimate inquiry into the risk of this situation by people with a lot of money on the line. Your suggestion of more "patience" has no place in the world of Bitcoin, because most know that where there is smoke, there is almost certainly fire.

Don't worry, I'm not taking anything personally.  Call me whatever names you want.  I understand people are upset about their money.  That said, people should do their due diligence before giving so much money to anyone.  You can't just trust a business because it is a market leader.  Anybody who has investigated the history of MtGox will not be surprised by the recent delays.

This is not the first time there have been issues, and it will very likely not be the last.  Moving as much fiat as MtGox is very difficult to accomplish due to regulations (and worse, uncertainty about regulations).  Banks can't afford to run afoul of the law, so they tend to be very conservative.  Part of standard operating procedure is to set transfer limits for new accounts that can last months.

All threads like this do is create an environment of fear and increase the demand on both the withdrawal systems and the customer support systems.
2113  Economy / Economics / Re: Lower Transaction Fees = Liquidity on: July 16, 2013, 03:50:30 AM
In fact, I am curious about where will the transaction fees go to finally. Huh

Version 0.8.1's lowest fee is 0.0005.
Now the version 0.8.3's lowest fee is 0.0001.

1 million transaction would cost nearly 100 BTC.
They can't just disappear.

They are awarded to people who run transaction processing hardware and software that verifies the transactions.  Colloquially these people are referred to as miners.
2114  Economy / Service Discussion / Re: 0.25 BTC Bounty - Show me a Mt Gox USD Withdrawal :) on: July 16, 2013, 03:00:10 AM
After a week of daily emails to Mt. Gox demanding that they refund my outstanding wires (from June 17) back to my trading account, I am pleased to announce that they have just done so. I have converted to coin and moved to Bitstamp. I am very happy for this resolution.

I saw a post on this forum of someone sitting with USD 40,000 sitting in limbo for 12 weeks without resolution. I feel for him...

And this is one reason why it takes them so long to respond.  People send daily emails which results in 10 times the volume to work through in their email queue.  I'm glad (but not surprised) to hear that your issue has been resolved.
2115  Economy / Service Discussion / Re: 0.25 BTC Bounty - Show me a Mt Gox USD Withdrawal :) on: July 16, 2013, 02:38:14 AM
Do you work for Gox or just adulate them from afar?

Explain this:

Not sending wires for a month.
Refusing to refund funds not wired to the trading account.
Ignoring all requests for a clear explanation of what is going on.

Yeah everything's fine - they're just backlogged. Sure dude...



I do not work for Gox.  I've just been around long enough to know that they don't move at the pace most people expect them to move.  Improvements could be made here.

You, however, are exaggerating.  The outage was 2 weeks.  There outage is over, but there is a large backlog of withdrawals that they are working through.  I have not seen any claims that cancelled wires were not made available to trade.  I have seen several claims of the converse (people cancelled withdrawals, bought btc, and then withdrew).  They have already clearly explained the situation with the press releases I linked.

It's been 7 business days (counting today) since withdrawals resumed, and when they resumed them they estimated it would take several weeks to work through the log.  You people have no patience.

But...  wires were de facto suspended since at least 6/14, which was prior to the official suspension.  And nobody, NOBODY has posted to this thread with evidence that a single wire has gone thru since pre 6/14.  So we are over a month now.

Roll Eyes

Because this thread is an authoritative source of USD withdrawal records.  I'm done.  Continue to spread your FUD.  I won't interfere anymore.
2116  Bitcoin / Mining software (miners) / Re: CGMINER ASIC FPGA GPU overc monit fanspd RPC linux/win/osx/mip/r-pi 3.3.1 on: July 16, 2013, 02:35:20 AM
README is where you can find it.

For the lazy:
Quote
Q: Is this a virus?
A: Cgminer is being packaged with other trojan scripts and some antivirus
software is falsely accusing cgminer.exe as being the actual virus, rather
than whatever it is being packaged with. If you installed cgminer yourself,
then you do not have a virus on your computer. Complain to your antivirus
software company. They seem to be flagging even source code now from cgminer
as viruses, even though text source files can't do anything by themself.
2117  Economy / Service Discussion / Re: 0.25 BTC Bounty - Show me a Mt Gox USD Withdrawal :) on: July 16, 2013, 02:30:05 AM
Do you work for Gox or just adulate them from afar?

Explain this:

Not sending wires for a month.
Refusing to refund funds not wired to the trading account.
Ignoring all requests for a clear explanation of what is going on.

Yeah everything's fine - they're just backlogged. Sure dude...



I do not work for Gox.  I've just been around long enough to know that they don't move at the pace most people expect them to move.  Improvements could be made here.

You, however, are exaggerating.  The outage was 2 weeks.  There outage is over, but there is a large backlog of withdrawals that they are working through.  I have not seen any claims that cancelled wires were not made available to trade.  I have seen several claims of the converse (people cancelled withdrawals, bought btc, and then withdrew).  They have already clearly explained the situation with the press releases I linked.

It's been 7 business days (counting today) since withdrawals resumed, and when they resumed them they estimated it would take several weeks to work through the log.  You people have no patience.
2118  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore on: July 16, 2013, 02:18:09 AM
We dropped to 65 and then right back where we started at 100+.  Did ANY money leave Gox AT ALL?  Or was this all just long-term bull traders trying to outfox each other?

Did any of those coins left MtGox?

Impossible to say, but the bitcoin on the order book has certainly been decreasing lately:
2119  Bitcoin / Mining software (miners) / Re: CGMINER ASIC FPGA GPU overc monit fanspd RPC linux/win/osx/mip/r-pi 3.3.1 on: July 16, 2013, 12:57:24 AM
It's highly likely that your hub can not provide enough power for 33 USB block eruptors simultaneously.  In fact, from your experiments, it seems to not be able to provide enough power for more than 7 at a time.  What power levels is it rated at?  Each block eruptor will need 0.5 - 0.6 Amps.

Power Supply is fine, coming from Win7 where they work.  Sparkle 400 is 30A@5v.  Thanks!

They're all hashing.

10890Mhs/333Mhs=32.7

Exactly.  It's driving me nuts that there's no work!

Why not use 3.3.1?  I had to upgrade from 3.1 to get my 61 erupters working, but they are working fine on 3.3.1.
2120  Economy / Economics / Re: Winkelvoss ETP could become THE pricing mechanism for BTC on: July 16, 2013, 12:55:28 AM

Go find someone to give you a hug.  Life is much more pleasant when you let go of your anger.

What are you, a teenager? Using the whole "U mad?" schtick? C'mon, you gotta do better than that - it's old.

I don't engage in discussions with people who can't make their point without being civil.

If you can make a comment without calling someone an idiot or inbred or an asshole or a teenager, and there is something worth replying to, maybe I will respond.  Until then, you are not worth engaging.
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