Bitcoin mining motto
"does it worth it"
cracks me up every time ... if nothing else the amount of laughter from the crazy situations and reactions by people thrown up by bitcoin has improved my health (extended my life maybe?)
I'd guess that the people on this board have the best chance of anyone in the world of living to see 2200. |
|
|
|
There's a big buyer trying to push the market upwards, I doubt he'll give up so easily
Really? You've ruled out the possibility that he wants to get a lot of coins? |
|
|
|
Why didn't you PM me, bro?  I'll take it if you want. |
|
|
|
It might be. It is designed to have only 21 million coins. But who knows if there is a flaw in the system. Also, if the government takes it down, then yes it is a ponzi scheme.
Erm, when the g-men took down Osama did he turn into a ponzi? Also Bitcoin never has more than 21M coins if a system you are in ever has more you aren't using Bitcoin. It's like saying a circle might have a flat part. It just doesn't, if the shape you've got has a flat part, it isn't a circle. |
|
|
|
Scarcity is an illusion.
Then what are you complaining about? Bitcoins must not actually be scarce. |
|
|
|
I understand that the genisis block was created by Satoshi but what about the 2nd block? if Satoshi never spent any of the first coins what was the inputs for the 2nd block  I thought we where hashing transaction data but the first 10 blocks where not involved in any transactions. in fact what was the first block to be spent? Transactions are only verified, they aren't required to hash a block. It's entirely possible to mine blocks without any transactions in them. Right. And even if they were for some reason there is a Generate tx in every block anyway. |
|
|
|
|
A new version will let the fee go down. It's stuck a bit high because of the fast value rise, but there is no reason a miner would decline a tenth of a penny fee. It is nearly free to include them.
|
|
|
|
I think the "use case" bitbills is trying to address is offline transactions, there the importance of the "face value".
Sure, but there is a place for one-sided-web-access-only transactions. I'm not talking about getting rid of the denominated cards, just another possibility. I think it would be pretty good since you could end up not destroying bills until they got large so the cost would be small as a %. |
|
|
|
|
Generate coins never have previous coins as inputs so it isn't special in that way. I would think it just used 0 or null or whatever in the place of the hash of the previous block and Bitcoin is coded not to mind.
|
|
|
|
For me bitcoin has already more or less Arrived. There is only one more question that remains.... will it scale?
For me the way the speed of confirmations has slowed is worrying, I don't think it can any more be said that bitcoin means instant payment. My vague understanding of the technology on this level implies that confirmation speed will be prone to scaling-failure if millions and multi-millions start to use btc.
By the same token will latency and load on the btc network itself start to make bitcoin impracticable under heavy use?
I admit my technical knowledge on these or other scaling related questions is not strong so would appreciate your input. In my opinion Tipping Point is within weeks, media / social network reverberation is in evidence as I post about bitcoin in a forum somewhere and some other poster responds "yeah I heard about bitcoin, interesting idea". I'm pretty sure bitcoin is The One as if it does fail then uptake of any new cryptocurrency would be unlikely to appear for a decade at least. The way I see bitcoin possibly failing is if it doesn't scale and can't usefully cope with millions of users.
I know free transfers is a nice selling point, but really really cheap transfers is good too. Have you had delays when you attached a fee? |
|
|
|
I am interested in purchasing these cards... Can I Buy a few of them, 'unloaded,' once I have confirmed that they have arrived safely and are untamed with. You send the coins to the addresses contained?
That's probably the safest way to sell them, actually. Oh, yeah... and you could have unmarked bills. You could increase the value of them as needed and check the balance anytime. Might be more reasonable to pay .3BTC for an unmarked card than a 1BTC card. Of course all of these cards can already be increased, but people might look at you funny (okay funnier) when you insist that the 1BTC card is worth 45BTC. |
|
|
|
|
I think gradual decay would have been better, but not anywhere near enough for a change now. The only benefit the current system has is a slight easy of explaining to a noob, but if you are explaining the technical details of Bitcoin to someone who can't handle a little decay then you are doing it wrong.
|
|
|
|
|
I don't think Kiba was saying that he doesn't care what people think. I think he was saying that he doesn't care which section this particular post goes in. Sorry, Kiba, if I'm wrong and being presumptuous.
In general I don't think there is usually one right section for a post. If someone wants economic analysis of a subject or thought they'll put it there. They might put the exact same post in say project development if they are more interested in the logistics of actually doing the thing or want help or something.
A good rule would be to trust that someone with 100+ posts knows about all the sections and made an informed decision about where to place a thread unless it is totally obviously wrong. Like a WTB in Meta, people sometimes mistakenly think they are in a different forum. Noobs though are more often careless, and also less likely to have a strong desire for putting it in a certain place. I don't start many threads, but if I do I know I want them where I put them.
So, more deference to old-timers and more 'help' for newbies imo. And less moving in general, though I know some of it is just transitional.
|
|
|
|
our adoption likeliness will be very low until we stabilize... companies cant afford there 4$ BTC to be worth 2.5$/BTC the next
When the market is mature it'll be trivial to hedge that. Decide how much a drop would be too harmful, buy puts there. You can afford it by giving up some of your upside by selling OOTM options. |
|
|
|
I'd like to see a nice steady bull market with some healthy pullbacks. Pushing the top of an exponential range smacks of frothiness and could set us up for a crash. Look what happened to silver recently. Of course BTC is so thinly traded and is such a disruptive technology we could go much higher without any significant correction. The agonizing question: Do I wait to buy more at a lower price or is this the lower price . . .
Unlike stocks and industry commodities, the wealth measuring tools such as gold/silver/bitcoin can never have "bubbles", the commonly referred gold-bubble of 1980 would never exist in a gold standard world. Barring any manipulation, their values should purely depend on how much a percentage of the world population accepts them as storage of value and media of exchange. In today's dollar dominant fiat environment, I believe the prices of gold, silver and bitcoin are greatly undervalued, for different reasons. The formers are manipulated down by government policies, the latter is just not well known to the public, also the would-be manipulators haven't figured out how to manipulate bitcoin "physical" market without those fancy derivative tools. Want to have margin trading, options, and more liquidity? be careful what you wish for. You can't manipulate markets for free. It doesn't matter what tools you have, moving the price from where it 'ought' be costs money. They've got money by the balls right now and we're trying to fix that. Options and futures will smooth the market. I know it looks like they don't in the official markets but it's because everyone has incentive to get on the same side, ride it until it busts and get bailed out. That's not what we'll get with bitcoin, your losses will be yours. |
|
|
|
I'm interested if you don't already have someone working on the project.
~lulzplzkthx
Job taken. Blazing fast economy we've got here. I'll let you know if it falls through and I need a new guy. |
|
|
|
I haven't been paid my cashout of .44 yet. Looks like it's manual, you going to automate? 1EidtUZpMbQ3S9aLD7kcYLxhfc7fFym86M i paid .44 to this address long time ago. Yes, I see you did. 1EidtUZpMbQ3S9aLD7kcYLxhfc7fFym86M is the address I paid to deposit. Did I give it as the withdraw address by mistake? Yes, you did it. and I sent them to this address. Oh, okay. Shouldn't that mean I have .44 credit on my account? Oh, wait, it was mybitcoin. Let me know if he ever gives that to you. My bad. Bitcoin is hard for me, durrrr. |
|
|
|
example: a new GPU design is created that hashes exponentially faster than the current generation.
Cards have been getting faster long before bitcoin and it will continue, it's not news or a secret.
Traders know that this will cause a price shock, possibly sending bitcoins down in value.
It won't. More hashing power means higher difficulty, not more bitcoins (except in the very short term and we're talking <.01% increase compared to the stock now) or lower price. |
|
|
|
|
Show Posts
