Introduction of ASIC miners should cut this down significantly, right?
No. When more hashing power is brought online the difficulty adjusts up to keep the block rate at 1/10 minutes. Yes, actually. ASIC miners are so fast they will outpace the difficulty adjustment, which is capped at a factor of 4 every 2016 blocks. |
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For the first time in Bitcoin history, the six-month trailing average price will go over 10 US$ in a few days. Currently, we've already broken the record set over a year ago:  Consistently high prices are healthy, and hopefully this trend will continue. |
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Hello,
Rugatu has lost a few questions recently. Could you elaborate on the cause of these losses?
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Hello,
Were we supposed to lose our coins? I have far fewer virtual coins than I used to.
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Please add: accepting BTC for services rendered. Not everyone is a merchant.
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This is a feature, not a bug. When those users posted, it was in reply to the original title. To change that would be to put words into those users mouths. Example: I post a new thread: "Should Satoshi be honoured?", and someone replies: This is an excellent suggestion!
I then proceed to change the thread title to "Should Satoshi be eaten alive?". That user's post should not have its meaning changed, rather, it should retain the old title. |
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For those who don't know in Planetside 2 you earn experience points that then build up into certificate points ( for some reason, I never got it ) and then you spend it on weapons upgrades etc. for your vehicles and infantry classes in an RPG style system like Call of Duty, this of course immediately means, massive balance problems, griefing and favouritism. What I find particularly stunning about this guy and many people him is that he's actually convinced himself and is trying to convince others that in order for a game to be an MMO it has to have grinding when it's just a category! Then there's the way he goes on about purchasing crappy in game cheats ( which is what these items really are ) as if it isn't a completely game breaking thing.
I don't think anyone has figured out how to make this model work yet. The theory is supposed to be that the stuff you pay for is no better than the stuff you can get for free, just different. However, if it really was no better, very few people would pay for it and the game would go broke. In practice, to make the game profitable, you have to offer something that is significantly better for a fee, or people won't pay anything. Just cosmetic changes or "sidegrades" just won't do it. Not when you need to get around $6 per player per month to break even and you don't have the $30-$60 per player buy in to cover your up front costs. I've had some very good ideas for this, but never the time to set it up. Basically, have an in-game "points" currency that can be exchanged for real money at half the price of payment, and make a "market" that allows people to transfer the items between each other for the "points". So people would still pay, but anything you can pay for can also be earned with hard work. |
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you will receive any Bitcoin sent to you - in the Blockchain.
but it won't be in your wallet (i.e., it won't be spendable) until you run your client and download the Blockchain into it.
Really? So if you have a backup of a wallet.dat, and restore it to another installation of the client elsewhere, perhaps even another version of the client, it won't work? It should, not sure what he was getting at. Maybe, it has to be linked ot an up to date blockchain? Yes, he was talking about how the money is not yet in the wallet (as in a available to spend) until the blockchain has been downloaded. Do not confuse wallet with wallet.dat, which is a misnomer: that file contains the keys to the wallet, i.e. the things needed to spend coins in the wallet, not the wallet. |
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Anyone else notice how the official announcement from Wordpress has subtly changed since it was originally posted?
I noticed the change from Cuba and Iraq to Ethiopia. |
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Hello all!
I'm interested in printing one (1) sheet of paper approximately A3 or A2 in size, in colour and on laminated paper. Is there any Bitcoin-based service that offers this?
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You cut off the end: [Thursday, November 15, 2012] [7:59:29 AM] <phantomcircuit> jgarzik, i actually have code to ddos the entire network [Thursday, November 15, 2012] [7:59:31 AM] <phantomcircuit> it works [Thursday, November 15, 2012] [7:59:44 AM] <phantomcircuit> but i run out of local port numbers before i get past about 100 peers [Thursday, November 15, 2012] [7:59:44 AM] <Luke-Jr> um [Thursday, November 15, 2012] [7:59:45 AM] <phantomcircuit>  [Thursday, November 15, 2012] [7:59:55 AM] <Luke-Jr> you can't know it works without having DDoS'd the network -.- [Thursday, November 15, 2012] [8:00:44 AM] <phantomcircuit> Luke-Jr, well it worked against the roughly dozen bitcoin nodes i run [Thursday, November 15, 2012] [8:00:52 AM] <phantomcircuit> scale to all connectable peers In other words, he tested this on his own nodes. I presume if there was anything we could do to fix it, he'd have mentioned that in private. hang on a sec, if this is a resource exhasution, and 12 nodes made him run out of ports then this is a non issue. However he clearly states that he has tried it against at least 100 peers... and only owns a dozen or so. I see where you are coming from luke, and I would tend to agree with you, however I find myself agreeing more with this... But my guess is this: he has found nothing substantial and is looking for attention.
60,000 ports to take out 12 boxes? that isnt a dos, that is just being stupid. (I will have a play, and I think I am pretty sure what he claims to have found I already know... it isnt worth reporting...) I may well be wrong, but I do not thinkso, how on earth do you run out of ports on a DDoS? on a DoS sure, but a DDoS only takes out 100 nodes? again this is a non issue. (DDoS == DISTRIBUTED Denial of Serivce, v DoS == Denail of Serivce.) - Remeber what SYN floods were actually for? 1 BTC to the person who explains first. (hint kevin mitnik got imprisoned for it) if the attack cannot involve IP spoofing then again it is a non issue. (another hint to get that 1 btc) I have no dog in any fight that Patrick is involved with (except bitcoin in general) Patrick, take a look at you auth code on intersango. shore your own doors before you piss in other peoples pools. bug hugs, disco (re 1 btc prize, that is for the person who i deem to give the best answer. In the event of no correct answers, I will give the 1 btc to the person that got the closest. My deciscion is finial, there is no appeal.only one prize will be paid. so the total prize fund is 1 btc which can be won by 1 person only.) Mitnick's target was an enemy's computer. He found he could gain terminal access by spoofing his IP, disguising as an actual server the terminal trusted. He used a SYN flood to disable the real server while IP-spoofing and patterns he obtained allowed him to pretend to be the server. |
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And by the way no drawing lines on charts is going to help you in a situation like this. See you later bears!
oh yes it does. i've been predicting a breakout. I've been doing that since January. I haven't been right half the time though  . |
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No.
Bitcoin isn't a means to achieve a political or economic end. Those who use it as such are cheating the system. Bitcoin is a novel financial system enabling worldwide monetary transfer. Bitcoin kills two birds with one stone: it is both a store of value (a ledger) and a medium through which parties can exchange (a transportation system). Neither of these goals have anything to do with a specific political ideology nor a specific economic school of thought. That is the secular beauty of Bitcoin. And I will not take it for anything less.
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The issue with I0Coin is that too many blocks are empty. These blocks are useless except to help secure previous transactions. This ballooning could be solved by forking the chain to temporarily slow target block time to 15 minutes and slowly decrease it to 3 minutes.
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I think the misconception is that BTC is inherently deflationary at all.
Not exactly. How many wallets have already been lost? Do you think that's a thing of the past? Even with a completely stable - not growing, not shrinking - economy, that small trickle of lost wallets will continue to deflate the currency once it's stopped being generated. It's not necessarily a bad thing, but it is going to deflate over time. The supply will get near 21 million, and then slowly drain away. Lost wallets are proportional amongst all holders of bitcoin. Although the value of an individual BTC may go up, this demurrage will cause the balances to decrease to compensate. If you lose your entire wallet, my balance stays the same. I don't see how that could possibly be proportional amongst all holders. But you are as likely to lose your entire wallet as I. Maybe, maybe not. I know I have my wallet backed up six ways from Sunday, notwithstanding that it holds a whopping .25 or so BTC at the moment. Then that is work done, and payment received. |
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I think the misconception is that BTC is inherently deflationary at all.
Not exactly. How many wallets have already been lost? Do you think that's a thing of the past? Even with a completely stable - not growing, not shrinking - economy, that small trickle of lost wallets will continue to deflate the currency once it's stopped being generated. It's not necessarily a bad thing, but it is going to deflate over time. The supply will get near 21 million, and then slowly drain away. Lost wallets are proportional amongst all holders of bitcoin. Although the value of an individual BTC may go up, this demurrage will cause the balances to decrease to compensate. If you lose your entire wallet, my balance stays the same. I don't see how that could possibly be proportional amongst all holders. But you are as likely to lose your entire wallet as I. Random bankruptcy is a form of demurrage. |
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I think the misconception is that BTC is inherently deflationary at all.
Not exactly. How many wallets have already been lost? Do you think that's a thing of the past? Even with a completely stable - not growing, not shrinking - economy, that small trickle of lost wallets will continue to deflate the currency once it's stopped being generated. It's not necessarily a bad thing, but it is going to deflate over time. The supply will get near 21 million, and then slowly drain away. Lost wallets are proportional amongst all holders of bitcoin. Although the value of an individual BTC may go up, this demurrage will cause the balances to decrease to compensate. |
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I think the misconception is that BTC is inherently deflationary at all. This is simply not true. Currently, the situation is that the Bitcoin economy is growing faster than the monetary base, causing deflation. The reality is, the economic growth will stagnate and eventually reach zero, and if monetary expansion also reaches zero, there will not be inherent forcing on either inflation or deflation.
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They all calculate it differently?
Ive seen this asked in the past and am pretty sure that is a correct answer.
obviously thats the case. but why? and which one is most correct the bitcoin program should only do it ONE way All of them are rather inaccurate. For the first few days of a difficulty cycle, extrapolation works better than the next difficulty counters. |
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