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621  Bitcoin / Development & Technical Discussion / Re: Just a newbie question about blockchain size. on: February 22, 2015, 05:55:44 PM
Quote
Just a newbie question about........

Satoshi has answered this newbie question in 2008:

https://bitcoin.org/bitcoin.pdf (Section 8: Simplified Payment Verification)


Quote
my pc is already with lacking space and I will not buy other HD

Many people already have 29GB of RAM in their PC, 29GB of HD is just nothing. If you can't even spare 29GB to hold the blockchain, you shouldn't run a full node.
622  Local / 中文 (Chinese) / Re: 比特儿可能没有足够的资金偿还客户 on: February 21, 2015, 08:02:49 PM
真是悲惨结局,不过也捞够钱了吧,落到这种结局却是让人觉得可惜。不管如何,人们很难再次相信比特儿了,甚至很难相信比特币了。

这和比特币有什么关系。 出了一次911或马航,难道你一辈子不乘坐飞机了?

這個比喻還不太正確! 馬航掉的真的是飛機, 但比特兒卻不是比特幣


马航就相当于比特儿平台,飞机好比比特币。 马航出问题,你可以选其他航空公司。 但因此就拒绝乘坐飞机,就是因哽废食了。楼上那哥们说得因比特儿平台倒闭就因此不再相信比特币,就属于因哽废食。 Grin

坐飛機本身的風險, 就是坐馬航的風險, 所以其實是同一事情.

但比特幣的風險, 並不是比特幣交易平台的風險. 比特幣沒有交易對手風險, 不會也不能跑路. 所以你的比喻並不準確.
623  Local / 中文 (Chinese) / Re: 比特儿可能没有足够的资金偿还客户 on: February 21, 2015, 03:09:20 PM
真是悲惨结局,不过也捞够钱了吧,落到这种结局却是让人觉得可惜。不管如何,人们很难再次相信比特儿了,甚至很难相信比特币了。

这和比特币有什么关系。 出了一次911或马航,难道你一辈子不乘坐飞机了?

這個比喻還不太正確! 馬航掉的真的是飛機, 但比特兒卻不是比特幣
624  Economy / Speculation / Re: Bitcoin long-term exponential trend (updated regularly) on: February 20, 2015, 03:43:58 PM
Thanks for the 0.16354143BTC or 40USD donation!
625  Economy / Speculation / Re: SecondMarket Bitcoin Investment Trust Observer on: February 20, 2015, 03:42:40 PM
Update. I missed a few days but there was no movement anyway

Also thanks for the 0.16354143BTC or 40USD donation!
626  Bitcoin / Development & Technical Discussion / Re: Why Reduce the Block Reward? on: February 20, 2015, 03:26:18 PM
If Satoshi did not put a cap on the total amount of Bitcoin, it would very easy for someone else to create alt-coins with a cap. Such alt-coins will become more valuable than Bitcoin and replace Bitcoin eventually.
627  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 18, 2015, 06:16:03 PM

But this has been known for ages. Not the exact date, but there isn't much left of Q1.

The sale is expected, but it's really annoying that they are not selling all 98000BTC this round.
628  Bitcoin / Development & Technical Discussion / Re: How to Create a Bitcoin Receive Address from a Coin Flip on: February 17, 2015, 06:31:09 AM


EXTRA SPEED:  .....



Punch your keyboard and take SHA256 of the results. It's way much better than using an online third party RNG.
629  Economy / Speculation / Re: Bitcoin long-term exponential trend (updated regularly) on: February 17, 2015, 03:05:41 AM
After reaching the -2.149 recent low, we are floating around -1.9 to -2.0

All-time:


Since 2015:
630  Economy / Speculation / Re: Bitcoin long-term exponential trend (updated regularly) on: February 17, 2015, 03:01:54 AM
Today is the one-year anniversary of this thread. If you like it, please consider to donate a couple bits.

Date:    16-Feb-2015
VWAP:    235.99
x:    1675
a:    0.00528
b:    -1.42439
Rsq:    0.88394
The day's expected price:    1658.60
Actual price / expected price:   14.23%
Log(Actual price / expected price)   -1.950
Price to break the -2.23 all-time-low   178.57
Price to break the +1.87 all-time-high   10737.53
Predicted date for today's price:    11-Feb-2014
Days ahead:    -369.55
Daily price rank:    439
   
   
(See OP for explanation)   
   
   
   
https://www.wolframalpha.com/input/?i=e+%5E+%28+0.00527648848506147++%28+number+of+days+since+jul+17%2C+2010+%2Fdays+%29+-1.42439141368009+%29
631  Economy / Speculation / Re: SecondMarket Bitcoin Investment Trust Observer on: February 12, 2015, 03:47:34 PM
Update. Growing very slowly
632  Economy / Speculation / Re: Bitcoin long-term exponential trend (updated regularly) on: February 11, 2015, 02:46:37 PM
Date:    10-Feb-2015
VWAP:    218.61
x:    1669
a:    0.00530
b:    -1.43856
Rsq:    0.88548
The day's expected price:    1652.84
Actual price / expected price:   13.23%
Log(Actual price / expected price)   -2.023
Price to break the -2.23 all-time-low   177.95
Price to break the +1.87 all-time-high   10700.26
Predicted date for today's price:    24-Jan-2014
Days ahead:    -381.55
Daily price rank:    453
   
   
(See OP for explanation)   
   
   
   
https://www.wolframalpha.com/input/?i=e+%5E+%28+0.00530186245924665++%28+number+of+days+since+jul+17%2C+2010+%2Fdays+%29+-1.4385580304569+%29   
633  Economy / Service Discussion / Re: Another MtGox happening right now in China! 500 mil.$ lost. Prepare for a crash! on: February 08, 2015, 06:26:06 PM

The victims are exaggerating the "estimated" loss. See my reply above.
634  Economy / Service Discussion / Re: Another MtGox happening right now in China! 500 mil.$ lost. Prepare for a crash! on: February 08, 2015, 05:49:11 PM
"Mycoin.hk", a bitcoin thing in Hong Kong, apparenly closed without warning and owners disappeared with all clients coins.  Losses seem to be about 3 billion yuan, or 500 million USD -- on the same level as the MtGOX collapse.

The nature of mycoin.hk's business was not clear.  It apparently involved mining, and perhaps some Ponzi-like scheme.  I could not tell whether it also worked as a live exchange.

Article in Chinese:
http://hk.apple.nextmedia.com/news/art/20150208/19034053

Google translation:
Quote
WASHINGTON virtual currency Bitcoin (Bitcoin) once touted, Hong Kong discovered bust incident involving three billion yuan. Legislative Councillor Leung Yiu-chung received nearly ten investors in Bitcoin for help, said the suspect was a bit currency trading scams and storage platform, the largest loss of over $ 10 million estimate amounted to 30 the number of people affected, involving an amount or up to three billion yuan, victims today collective police. […]

EDIT: See also the reddit thread.  One comment in there claims that the report is incorrect.

If this turns out to be true then China or the PBOC will probably ban Bitcoin in China once and forever. With all the chinese money disappearing Bitcoin will probably crash to ~50$ according to financial bitcoin experts.  Sad Embarrassed

Can someone please get an english news source of this story or someone from China can actually say the real story. This is appearing fake for multiple reasons...

It's a Ponzi involving some kind of mining contract. The scammer said they would pay 0.64BTC of interest per day for every 90BTC investment.

By the way, they claim 3 billion HKD, not CNY. But this 3 billion HKD is pulled out of their ass. Only 30 victims seek help and they claims loss of 1 million HKD on average. The legislative councillor speculates that there are 3000 victims and ALL OF THEM lost 1 million HKD. That's how the 3 billion HKD calculated.
635  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 08, 2015, 04:58:41 PM
Google translation:
Quote
WASHINGTON virtual currency Bitcoin (Bitcoin) once touted, Hong Kong discovered bust incident involving three billion yuan. Legislative Councillor Leung Yiu-chung received nearly ten investors in Bitcoin for help, said the suspect was a bit currency trading scams and storage platform, the largest loss of over $ 10 million estimate amounted to 30 the number of people affected, involving an amount or up to three billion yuan, victims today collective police. […]

EDIT: See also the reddit thread.  One comment in there claims that the report is incorrect.
Never heard of that site, 500 million USD? what? How is that even possible for an unknown site like that to have so many funds?

The math does not seem right.  If I understood the translation correctly, 30 victims sought the police and some losses (the largest ones?) were 10 million yuan.  That would be 300 million yuan, not 3 billion.  

Perhaps the reporter goofed?

Perhaps they extrapolated to 300 clients?

Number digits in China and Japan are traditionally grouped by fours rather than by threes, so that "2 million" is written "200 万" where 万 means "ten thousand".  Perhaps that is the source of confusion, either by the reporter or by Google Transalte?


EDIT: forget it, see the post by @jl2012 above

The land area of Hong Kong is just about the same as the New York City. If there were 3000 people here all losing 1 million HKD (129000 USD), I would literally expect blood on street.
636  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 08, 2015, 04:24:11 PM
"Mycoin.hk", a bitcoin thing in Hong Kong, apparenly closed without warning and owners disappeared with all clients coins.  Losses seem to be about 3 billion yuan, or 500 million USD -- on the same level as the MtGOX collapse.

The nature of mycoin.hk's business was not clear.  It apparently involved mining, and perhaps some Ponzi-like scheme.  I could not tell whether it also worked as a live exchange.

Article in Chinese:
http://hk.apple.nextmedia.com/news/art/20150208/19034053

Google translation:
Quote
WASHINGTON virtual currency Bitcoin (Bitcoin) once touted, Hong Kong discovered bust incident involving three billion yuan. Legislative Councillor Leung Yiu-chung received nearly ten investors in Bitcoin for help, said the suspect was a bit currency trading scams and storage platform, the largest loss of over $ 10 million estimate amounted to 30 the number of people affected, involving an amount or up to three billion yuan, victims today collective police. […]

EDIT: See also the reddit thread.  One comment in there claims that the report is incorrect.

It's a Ponzi involving some kind of mining contract. The scammer said they would pay 0.64BTC of interest per day for every 90BTC investment.

By the way, they claim 3 billion HKD, not CNY. But this 3 billion HKD is pulled out of their ass. Only 30 victims seek help and they claims loss of 1 million HKD on average. The legislative councillor speculates that there are 3000 victims and ALL OF THEM lost 1 million HKD. That's how the 3 billion HKD calculated.
637  Bitcoin / Development & Technical Discussion / Re: Practical ways to store a redeem script for a P2SH address on: February 08, 2015, 10:17:45 AM
OP_RETURN, seriously.

Isn't a script too big to fit in a standard OP_RETURN?
638  Bitcoin / Development & Technical Discussion / Re: What is a Bitcoin soft fork? (in laymen's terms) on: February 06, 2015, 04:19:17 AM

You could edit the maximum allowed block size in the code. Change it to 100 KB and it'll be a soft fork, change it to 100 MB and it'll be a hard fork.

Good example.

Changing the max block size from 1MB to 0.1MB is a softfork, because it makes previously valid blocks (0.1MB-1MB) invalid.

I think changing the max block size from 1MB to 0.1MB is a hard fork, actually. Miners that don't upgrade will generate one 1MB and those won't be accepted but the upgraded clients, forking the blockchain.

A soft fork would be changing the max block size one produces from 1MB to 0.1MB, while leaving the max block size one accepts unchanged.

Or am I wrong? #sincerequestion

People are ALREADY doing this and as johoe explains this is not a fork. A fork, soft or hard, must involve a rule change in the validity of transactions/blocks.
639  Bitcoin / Development & Technical Discussion / Re: What is a Bitcoin soft fork? (in laymen's terms) on: February 05, 2015, 06:28:42 AM

You could edit the maximum allowed block size in the code. Change it to 100 KB and it'll be a soft fork, change it to 100 MB and it'll be a hard fork.

Good example.

Changing the max block size from 1MB to 0.1MB is a softfork, because it makes previously valid blocks (0.1MB-1MB) invalid.

Changing the max block size from 1MB to 10MB is a hardfork, because it makes previously invalid blocks (1MB-10MB) valid.
640  Bitcoin / Armory / Re: Tool to brute-force offline armory password? on: February 05, 2015, 04:38:45 AM
Don't, under any circumstances, accept to receive is wallet and password info in the unlikely event that he changes his mind.  With this attitude, you can only get trouble from it; and if something bad later happens you will most likely be blamed.  If he thinks that losing the btc is better than giving you a chance to help him, but also a chance to steal his btc if you are dishonest, then he is more mistrusting than most (to put it politely).

I thought about bringing this up earlier as a general threat vector (i.e., I'm not saying the OP would do this), but yes, this is one reason why people don't like handling private user/customer data. What are the chances that the user will turn around and make false/inaccurate claims? The blockchain and the various analytics make it easy to concoct a story where the evil Armory developer (or hacker breaking into an Armory computer) swept the wallet into their own wallet. It's a huge Pandora's Box that many people would prefer not to touch in the first place. Providing the recovery script is a good compromise for people who have the technical chops to use it. Everybody else? Frankly, in some ways, we're taking as much of a risk as they are in sending us their data, if not more so.

Instead of directly encrypting the private key with the user passcode, we could encrypt the private key with a long random key, which is encrypted with the user passcode. When a user forgot the passcode, he may pay other people to brute-force the random key, without the risk of losing bitcoin.
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