Can someone give me a quick answer as to setting up maxcoind --daemon for the first time?
Just want to know if I should be changing the rpcuser field? Once I create the wallet the first time with password, it can't be changed. But does the default username matter?
no, any pass and user |
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STOP CPU MININGYou are losing TIME AND MONEY!!! People with Cuda Nvidia GPUs and cudaminer are getting 100mhs or more per card.  Thanks. OK we get it. Our puny cloud is not match for an army of GPUs. Stop the giant text though. I'm old and I think I just lost an ear drum there  |
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Do we need to restart the deamon if we edit .maxcoin/maxcoin.conf to add more nodes (Linux)?
Thanks
Yes, restart the process. killall -p maxcoind |
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edit:
@AspireMining: it fluctuates, not every droplet is the same. My 8core droplets have between "hashespersec" : 740121, -- "hashespersec" : 1061739.
GPU's seem to dominate the coin. I'll need to catch some sleep, be well guys!
"difficulty" : 377.23074156 is going up strongly...
Thanks Instacash....You are the man today! I am seeing "hashespersec" : 1,532,797 for 8 core Azure instance. Sad thing is this: "networkhashps" : 36,861,891,890. I guess we should have just waited with GPUs. sigh. |
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lol - I still have no idea what to put here:
rpcuser=maxcoinrpc
rpcpassword=supersecurepassword
just leave it as is Don't leave it as is....someone will steal your Maxcoin should you ever get any. You can literally put anything you want for both values. Good luck. |
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Today I woke up and Bitcoin was shooting up to $140. Now it is on a steep decline going down to $115. What is going on?
This happens a lot, at least in terms of percentage swings. |
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I'm just trying to understand the RPC thing. When you do a transaction in Bitcoin-QT, you need the password to unencrypt your wallet. If you connect to RPC and authenticate you do not need to unencrypt the wallet to do transactions?
I don't think so, otherwise every RPC-command should contain the encryption password as a parameter. I believe you unlock the wallet while starting the service. Or the RPC-authentication password is also the wallet encryption password (don't think so either because RPC is much older than wallet encryption). You may check https://en.bitcoin.it/wiki/API_reference_(JSON-RPC) for better info. EDIT: Just checked and there are explicit RPC calls to lock and unlock the wallet. The wallet was then likely not encrypted, or encrypted with a weak password. That's correct. One has to first send the RPG command to unlock an encrypted wallet even when using the RPC commands. |
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Pays interest on Bitcoin savings
my skin just jumped off my body and hid under my desk.... |
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Hello all,
I'm just trying to do some development against my bitcoin wallet, to build a product. I've signed up for an Mt Gox account, and have to wait 10 days for them to manually review my uploaded documentation. I bought 0.1 bitcoin on eBay, but the seller has a 72-hour hold for PayPal payments before he (supposedly) will send the bitcoin fraction. I went to BitInstant to try to do a Walmart/CVS cash transaction, but their site seems to be down.
All I'm trying to do is get 0.00000001 BTC in a wallet so I can start scripting against it with JSON-RPC to test out a product idea. Should it be this hard??!
Could someone compassionate please send 0.00000001 BTC to this account?! I will be forever grateful, even to the point of a BTC bonus back to the sending address when the product takes off, on my word, for whatever that's worth in a forum.
Address: 19RAcXbKYxEvtWR1jKU8rgKEvtcAMNJatR
Thanks!
Tim
Testnet Tim, testnet. |
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These scams are pretty transparent to us, but we are not really the target. The target for most online scams are people who poorly have english as a second language. They cannot read through pages and pages of of a forum rebuttal to the initial post, but they can grasp enough of that post to believe if they send bitcoins to a certain address that they will get a magic money box. These scammers rely on the inability of the reader to fully comprehend what is being said, similar to the "Xbox box" ebay scams.
wait, wait a second....I'll take a magic money box. Where do I send the bitcoins? But you gave up mining on 6-26-2012  I'd be willing to get back in because magic.. |
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These scams are pretty transparent to us, but we are not really the target. The target for most online scams are people who poorly have english as a second language. They cannot read through pages and pages of of a forum rebuttal to the initial post, but they can grasp enough of that post to believe if they send bitcoins to a certain address that they will get a magic money box. These scammers rely on the inability of the reader to fully comprehend what is being said, similar to the "Xbox box" ebay scams.
wait, wait a second....I'll take a magic money box. Where do I send the bitcoins? |
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At 10x difficulty I can't create a scenario where mining is even close to profitable to anyone that is not getting their miners at cost. Will we see a dip in asic miner prices or how does the community survive?
"Profitable" or "my unrealistic expectations is to break even in 2 weeks and make 487947298721472987892472% profit per year"? Capital Cost: $1500 + $500 (unit plus one module upgrade to improve efficiency) Electrical cost (1 year): 800W * 24 * 365 /1000 * $0.08 = $560 Total lifecycle cost (assumming 12 month life): $2,560.64 88GH/s @ difficulty 30M (~10x current) = 538.2 BTC per year. $2,560.64 / 538.2 BTC = $4.75 per BTC. If you could pay me $2,560 right now and I would pay give you 538.2 BTC over the next year would you? Of course you would. If you think difficulty will stop at 10x current you are basically saying once it gets there people will say "hmm only 400% profit per year, nope I don't think so". Of course difficulty will go way way beyond that. Even at difficulty 100M (~33x current), 88GH/s = 161.4 BTC per year $2,560.64 / 161.4 BTC = $15.80 per BTC. I still think thousands of people will take that deal. Note both those numbers assume difficulty jumps instantly. In reality since difficulty will rise over time the profitability is even higher. Granted the ASIC might not be cost effective for a year so there is the risk element but the risk has never stopped miners before. Anyone thinking difficulty is only going to rise 2x or 5x is simply dellusional. Even "only 10x" is likely way too optimistic. Difficulty 100M is likely the min realistic value and if BFL power efficiency is true and they can ship in volume ... 200M or higher is a very real possibility. You are right of course, I did not take the time to do the math and posted in a hurry from my phone. It looks more like 40x increase over the next year (based on certain estimates almost no one can verify with certainty) which would still be profitable, but requires a large investment. I guess my question was more about the future state of bitcoin. If only asics are profitable does that somehow reduce the interest in bitcoin unless asic prices come down. Will the adoption of bitcoin go down since not everyone can get into it with existing hardware, minimal investment? Where do we see the growth in terms of people coming from D&T? I suppose it has to be a new disruption in a current market, be it online gambling, mmo currency, donations, or something else? What do you think? |
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Welcome back Matthew. It is good to see you take responsibility for your actions rather than just hide with your tail behind your legs. I have always supported and admired your passion, drive, creativity and work ethic. I was disappointed with your actions, but I forgive them. Trust can be earned back from me.
For everyone else:
I did not bet anything with Matthew. I had investments with Pirate. I did not gain from his bet, in fact I lost practically all my btc worth to Pirate and that is embarrassing and hard to admit. While some may have been able to offload their debt due to Matthew's irresponsible behavior, lets not forget who committed the original alleged crime here: Trendon Shavers, not Matthew N Wright. I admit any of my emotion and feelings about "the bet" are misplaced feelings from my own stupidity, actions, etc. with trusting in Trendon based on other forum members who I met that seemed to trust in him to repay, both before and after the default. The lessons I learned are many, but none of them are that Matthew deserves no place in this community. I also admit this is easier for me since I did not bet anything with Matthew. I also tried to talk him into taking Trendon's offer to buyout the bet, one late night on IRC. Matthew stood on principle that night, refusing to take the buyout and give up his responsibility. He made the bets and wanted to be sure they were repaid. I think that shows his original intention. Somewhere along the way that was lost.
I have been reluctant to get back into bitcoin, but I love programming, engineering, and economics. I believe in bitcoin and I believe that I can and will be part of the community again, but it will be much more careful and guarded this time.
It is time to forgive all those who are repentant, including ourselves.
Thank you Matthew for coming forward, best of luck to you.
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At 10x difficulty I can't create a scenario where mining is even close to profitable to anyone that is not getting their miners at cost. Will we see a dip in asic miner prices or how does the community survive?
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It sucks, any advice?
Go back to your wife  |
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I vote me. I could drive from Chicago area with a couple other miners. I am impartial, transparent and have many years experience in IT management. I am a big proponent of bitcoin and want to do what is best for the nascent industry. http://www.visualcv.com/nathanghartIn fact, I would like to come visit regardless of whether the community nominated me. Let me know if this is possible Josh. Kindly, Nathan |
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Bitcoins, coffee, and me. What better way to spend a Thursday night in Naperville? http://www.meetup.com/NapervilleBitcoinGroup/ to join and RSVP. We are meeting at 6:00 so you can swing by after work. Look forward to meeting some of you there. |
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I want to turn 1 bitcoin into 10 000 bitcoins. How do I do that ?
The best way to make 10 000 bitcoins is to start with 100 000 bitcoins. ba dum cha! |
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No one wants shitty drawings? Damn lol.
Looks like the only thing you can draw is unemployment ;P |
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