The kind of attack that concerns me is someone spending $100m or so on new hardware, not part of any pool, and thus gain over 51% percent. They then private mine empty blocks until they have a chain say 3 hours long. Then they publish it. At which point, all the transactions in those blocks, some of which had 18 confirmations, suddenly have zero confirmations. They all become vulnerable to double-spend attacks by their original senders. The attacker continues mining blocks, now including any double-spends. They do this once a day, at random times, from different IP addresses, for the next six months.
Spending $100 million to fuck up Bitcoin? If it could be done for 10 million (which it can't) I doubt anyone would take up on that offer. You can do a lot of things with 10 million that benefit yourself or make even more money. Doing an attack that you describe basically burns most of the money. |
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I felt this was half serious and half an SNL skit. The serious part isn't to be taken seriously if you have the funny part embedded in such a way, nevertheless I enjoyed it.
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Hardly anyone is going to go out and buy bitcoin to buy lol gear. They will use their cc
Don't be so sure. And the bitcoin fees would be lower to the merchant for almost any amount vs the same amount via credit card. And no charge backs from parents. |
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That is so not true. Russia would not have ever bailed out for more than what was already done. Russia is known for writing off uncollectable debt but not for actual giving out billions to overseas private banks.
From what I've heard Russia offered billions of $$$ to Cyprus for having a naval base in the island. The Cypriot politicians were worried that if they did so, then they'll be kicked out of the Euro Zone. So instead, they stole the money from their citizens' bank accounts. The loss was huge. They got money from Europe ( more billions ) and still had to haircut their own citizens. |
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transaction fe's and satoshi dust means the minimum spend is 6c with 5c fee..
many sites want the ability to do micro transactions where people can buy add-ons and bullets for fractions of pennies.
but Luke JR has totally caused the micro transaction market to not work
why would any site accept a 25c transaction with a 5c fee (20%) this is why zynga is not adopting bitcoin right now, even after alot of their devs have been trying it out...
Why would zynga or Riot allow transactions under $2. They don't with credit cards, they wont either with Bitcoin. They will have a minimum charge, and transfer that value into the users account just like with a credit card. On a low value transaction they would make MORE money with Bitcoin even with the charges because credit card charges are still higher. |
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Buying BTC is not a hedge against demise of USD. If you think USD will fall then you should short USD. If you think BTC will rise then you should long BTC. There is no correlation as a trade
Says the NYC financial industry. They want to keep you paying in their court. To say that Bitcoin is not a possible hedge against the dropping dollar means you do not understand Bitcoin. |
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Putin is probably a bad example. Putin has no problems with corrupt governments seizing private wealth ... Are you referring to the Cyprus hair-cut? He tried his best to help Cyprus. Russia was ready to give loans to Cyprus. But the EU officials bullied the Cypriot officials to not to accept them. That is so not true. Russia would not have ever bailed out for more than what was already done. Russia is known for writing off uncollectable debt but not for actual giving out billions to overseas private banks. |
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Were the coins:
a. Lost. As in "These coins no longer exist." "The private key is unknown/unknowable."
b. Stolen, and therefore still in circulation.
1/4 to 1/3 of the coins still are accessible by Gox and could potentially be refunded to customers. Very few of the missing coins were stolen via the method that Gox (Mark) publicly stated. Reference: http://techcrunch.com/2014/03/27/experts-found-that-mt-gox-lost-a-mere-386-bitcoin-due-to-transaction-malleability/One theory is that the missing coins were spent by Gox on daily operations though I find problems with that. Gox was quite profitable earning some months in the millions of dollars. Their spending was lavish but not that lavish. They did not apparently go through hundreds of millions of dollars worth of coin with just business expenses. Another more likely (in my opinion) theory is that a large chunk of coins were simply 'lost' in an effort to enrich an insider. Many people think they know who that is, but it really could be a number of people. One clue, part of the initially 'lost' 200K coins were moving while Gox claimed they were lost. It is VERY unlikely that a server was just doing that on its own. Someone in my opinion was trying to take those coins and were caught by astute blockchain watchers. |
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Do it. Bitcoin will either go to (virtually) zero, or be worth MASSIVELY more than it is today. There's just no other alternative.
That is a good argument for putting half of it into BTC. If it is worth massively more then the OP will be set anyhow. If not, they have not lost everything. |
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I am not a bankruptcy expert but if things work close to the way they do in the USA, any acquisition would have to be BETTER for the people owed money (creditors) then the courts just doling out what remains to everyone equally. It looks like there is between 20-30% available for creditors now. There might be a slight bonus as some creditors may not claim funds leaving more for those who do.
So if a new company (example gox.com) wanted to do the acquisition, they would need to add some value for the creditors.
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The looks really cool. Do u accept bitcoin for them. Any discounts buying in bulk.
Yes, BTC is the only form of payment accepted on the website. There are discounts, those are listed on the product page and automatically happen when you put 10 or 100 on your cart. |
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I have one unit that is not mining. It sees no mining chains. I get none of those lines of oooooooooooooooooooo on the status page. What could cause that?
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Just a little math  The math is much worse if you: A) never get it B) get it late |
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