Bitcoin Forum
May 08, 2024, 10:55:54 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: « 1 ... 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 [336] 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 ... 800 »
6701  Alternate cryptocurrencies / Altcoin Discussion / Re: Solid/Ix/I0coin calculator? on: March 30, 2013, 02:20:27 AM
Solid coin calculator.

Daily Revenue = HashRate (in MH/s) * KingSolidCoinReductionFactor * 0 * 0 * 0^0 * 60 * 60 * 24
6702  Other / Beginners & Help / Re: Offshore tax havens on: March 29, 2013, 05:35:18 PM
Welcome.

IMHO Bitcoin is the offshore's offshore. Smiley
6703  Bitcoin / Bitcoin Technical Support / Re: No miner fee on: March 29, 2013, 02:06:36 PM
How does miner choose to include transaction without fee? Is it programmed in software somehow?

Miners are free to choose whatever transactions they want to include or exclude.  They can even mine empty blocks if they want less tx fee revenue.  The bitcoind provides numerous API calls to give miners flexibility in deciding how many tx to include, min fees, how many free tx, max block size, etc.

In miners are in a pool it is the pool operating setting these.


6704  Bitcoin / Mining software (miners) / Re: Why is cpuminer faster on my CPU than cgminer? on: March 29, 2013, 02:04:05 PM
You may as well remove CPU mining entirely.

Good idea. 
6705  Bitcoin / Bitcoin Technical Support / Re: No miner fee on: March 29, 2013, 01:58:47 PM
There isn't enough information to answer but ...

if the tx is a high priority tx (based on age, size, and all outputs 0.01 BTC of more) then it likely will be included by a miner as a courtesey within a dozen blocks or so.  Could be more, could be less.

If the tx is low priority and as a result the lack of a fee violates the anti-spam/DOS rules then it may never be included in a block, it may not even be relayed to other nodes if your peers drop it as spam.
6706  Other / Beginners & Help / Re: Historical question: were any Bitcoins premined? If so, how many? on: March 29, 2013, 01:55:19 PM
The genesis block wasn't ever "intentionally" unspendable.  It was an oversight however if future versions of the client "fixed" that oversight and earlier versions didn't then it would hard fork the network.

Technically it could be "fixed" in a hard fork "safe' manner but given the limited impact it likely never will.
6707  Other / Beginners & Help / Re: theoretically stupid, but bound to happen ... on: March 29, 2013, 01:08:43 PM
Well someone really lucky might end up with a freshly generated address that already has some coins on it. Right?!

Possibly however if you by extremely back luck (1 in ~4 billion) mistype an address which actually ends up being a valid but unknown address the most likely scenario is nobody every (not today, not tomorrow, not in 5 billion years when our sun burns out) produces the private key which corresponds to that valid but unknown address.

Hint: the odds of someone randomly producing a private key corresponding to that address is the same as the odds of someone producing a private key which corresponds to any known/active address which for all intents and purposes is ~0.0%.
6708  Bitcoin / Bitcoin Discussion / Re: Lower the minimum Transfer fee?! (Currently 0,0005BTC) on: March 29, 2013, 12:31:39 PM
The minimum mandatory fee FOR LOW PRIORITY txs is an anti-DOS mechanism. If it was modified to allow you to spam the network with massive amounts of tiny low value tx at low/no cost it would also allow an attacker to do the same thing.

While the fee may be lowered again in the future it can't be lowered to a point where there is negligible cost for tx of dubious value as that would undermine its anti-DOS purpose.  BTW it was lowered to the current amount when Bitcoin broke through $20 (the first time).  So lowering it to 0.0001 when the exchange rate is above $100 would provide roughly the same anti-DOS protection.

You can send tx without any fee if:
a) the input to the tx are "1 bitcoin day" old (high priority)
b) the total size of the tx is 10KB or less
c) each output is 0.01 BTC or more.

https://en.bitcoin.it/wiki/Transaction_fees

Remember all of the above applies only to the ANTI-DOS min mandatory fee.  High priority txs meeting the a,b,c criteria above are not REQUIRED to include a fee however miners are free to choose which tx to include in a block and generally will choose paying tx over free tx so high priority tx which don't include any fee may see the confirmation of the tx delayed by hours.  Low priority tx which violate the ANTI-DOS rules (requires running a custom/patched client) may see their tx never confirmed.
6709  Economy / Speculation / Re: How does it feel to have sold < $80 today? on: March 28, 2013, 10:44:29 PM
over and over and over and over again.  when will ppl learn?

Maybe they feel they have too many coins ...
6710  Other / Beginners & Help / Re: The correction? on: March 28, 2013, 08:53:05 PM
Probably around three fifty.
6711  Bitcoin / Development & Technical Discussion / Re: Yubikey or Google Authenticator? - What's safest for 2-factor authentication? on: March 28, 2013, 07:07:21 PM
google authenticator does support "event based" codes (HOTP) although most site use the time based (TOTP) codes.  bitfloor for example uses HOTP.

https://tools.ietf.org/html/rfc4226

Android phones since version 3.0? have supported real-time full file system encryption and the decryption key is scrubbed from memory when the phone locks.  It is not enabled by default you will need to enable it in phone settings.  Lastly yubikeys are difficulty to copy but not impossible.  Researchers have removed private keys from FIPS certified HSM (the kind used by ATMs to authenticate messages from bank network).

If you are hyper paranoid setup MtGox to use a google authenticator code for login and a yubikey code for withdrawals. Smiley
6712  Economy / Service Discussion / Re: Apparently I owe Coinbase.com on: March 28, 2013, 03:49:23 PM
Those are the often theorized but rarely seen antiBitcoins.  When an antiBitcoin and a Bitcoin collide they annihilate each other and are converted into energy.  Little known fact is that rogue antiBitcoins are the most common cause for wallet "corruption".
6713  Other / Beginners & Help / Re: Start bitcoin now... ? Useless ? :'( on: March 28, 2013, 02:59:21 AM
Bitcoin isn't only about mining.  It would be like saying "I would like to get started in gold but I don't have an excavator".   

Honestly mining is a zero sum game and the network is well protected.  With low barriers to entry and an unlimited number of new miners willing to accept lower and lower returns it isn't that interesting.

Make a service that supports the Bitcoin community and you will do something interest and maybe very profitable.
6714  Economy / Marketplace / Re: Badass BTC T-Shirts on: March 28, 2013, 02:56:44 AM
Just kh/s or khps.  Using both p and / would be like saying mp/h (miles per per hour).

I would love to buy some FUNNY Bitcoin t-shirts.  Got tons of funny nerdy/programmer shirts but haven't seen any "Bitcoin LOLZ" shirts.  Come on I got coins burning in my pocket. 
6715  Economy / Speculation / Re: Will we reach first $100 price or 1,000,000,000 market cap? on: March 28, 2013, 12:21:27 AM
Would you like to place a bet on this?


I will randomly take the side of $1 billion cap...

I see Elwar is a better poker player than me.
6716  Economy / Speculation / Re: Will we reach first $100 price or 1,000,000,000 market cap? on: March 28, 2013, 12:19:29 AM
are you serious?

Unless on the next difficulty adjustment the block reward becomes negative it is not possible to reach $100 before total money supply reaches $1B.

So for the record: $1B.
6717  Economy / Service Announcements / Re: bitfloor needs your help! on: March 27, 2013, 07:50:42 PM
What if later on there's a countersuit against whoever brought this suit, to try to recover lost potential repayments, and the person who brought this suit is not protected by any LLC, resulting in the remaining people who did not want the initial suit getting repaid from this initial suer's personal financial holdings? Could that happen?
...

Where is Nolo when you need him?   Cheesy

Exactly.  That is above my paygrade.  This is one of those questions where if you ask 3 lawyers you will get three different answers.  Ultimately it gets decided in court.
6718  Other / Beginners & Help / Re: I made a giant, overpriced mining rig on: March 27, 2013, 05:26:58 PM
If the price drops below $20 then I will be pulling my hair out (or what hair I have).

Why?  If the exchange rate falls to $20 (or difficulty increases by a factor of 10) why not just imagine up a higher hashrate and make even more "profit"?  I think you could install a couple of quantum doublers and vortex fans and get those "rigs" up to 500 GH/s each pretty easy.
6719  Economy / Service Announcements / Re: bitfloor needs your help! on: March 27, 2013, 04:42:45 PM
Bitfloor might also be protected by an LLC or something too, in which case, a lawsuit wouldn't matter.

Clarification.  An LLC (or incorporation) doesn't protect the company.  It provides liability protection for the owners.  The reality is that like most Bitcoin based companies Bitfloor doesn't have any "real" (tangible) assets.  You can't get blood from a stone.  Unlike a company which has warehouses, inventory, office equipment, etc which can be liquidiated Bitfloor assets would be limited to the brand (which would be destroyed in a bankruptcy), and the code plus any operating capital.  Bitfloor has paid out excess operating capital on a quarterly basis so I doubt you are getting more there.

The reality is a lawsuit is in nobody best interest.  Between court costs, legal fees (including Bitfloor's legal fees which will deplete operating capital) even if one got a judgement for the full amount it simply means Bitfloor would be forced into bankruptcy and creditors would be lucky to get 5 cents on the dollar.  The liquidated value of Bitfloor (as opposed to operating value) is very low.

For those ganshing at the teeth for a lawsuit here is a practical excercise.

1) Estimate the cash on hand (both BTC & USD) that bitfloor has
2) Estimate what the assets (code base, customer lists) of bitfloor could be sold for in liquidation (note most assets liquidate for 10% to 30% of face value in BK).
3) Add 1 + 2 together and subtract bitfloor estimated legal fees.

3 is the total liquidation value of bitfloor.  Divide this by the current amount owed (in USD) and that is % each creditor could expect to receive in liquidation.  Now subtract legal fees.
6720  Bitcoin / Mining speculation / Re: $324000 per day on: March 27, 2013, 03:18:05 PM
It doesn't matter if it is "reasonable" or not it can't be changed.  It is what it is.  Today the amount of economic activity on the network likely doesn't warrant that level of security (like buying a $5K safe to protect $1K in gold) but the move to ASICS is essential.

"Bad guys" will always have access to ASICs, one can't simply pretend away that threat.  Today if someone wanted to attack Bitcoin they wouldn't build a GPU farm they would fab some chips and build a smaller easier to manage ASIC farm.  It wouldn't matter if BFL and Avalon didn't exist an attacker would STILL go that route because it is the most economical.

The high reward paid to miners indirectly funds the R&D necessary to make the move the transition to ASICs.  Hopefully mining will be a large enough "pie" that we will see 4 to 6 well capitalized ASIC suppliers.  2013 is going to be an interesting year.  If the network has moved to ASICs by the end of the year it permanently removes that "cheat card" vulnerability.  Sure an attacker can still use ASICs to attack Bitcoin (but they always could) however they wouldn't be able to gain a massive economic advantage (i.e. $2M in ASICS 51% attacking $20M in GPUs).
Pages: « 1 ... 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 [336] 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 ... 800 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!