No. That time will never come. It makes no sense whatsoever and will never happen.
OK, that's actually a reasonable point. Do you agree with yourself often? |
|
|
|
Nope I finished that already, do I need to have the official client running at the same time as the other one tho ? If you are trying to mine alone, then yes, you must have a client running. If you are trying to mine in a pool, you don't even need the blockchain. |
|
|
|
|
Informal poll. Do you think it's time for the Bitcoin community to change the view of the bitcoin balance in the standard client?
|
|
|
|
I have a AMD 3.0Ghz Quad core processor, GeForce 8500GT, and 4 gigs of ddr2 RAM. I am using GUIMiner and deepbit as my pool. The max I am seeing is 2.2Mhash/s using my GeForce as the device.
This seems really low to me, even though it's an old card. Is this what I should expect? Any suggestions to increase this and get more bang out of what I have?
Thanks!
That's just about right for a CPU. You can't mine on a GeForce 8500GT, I tried that one also. |
|
|
|
Instead of milbit, what about: milfbit
The standard going rate, then? |
|
|
|
I've been scammed with WU before, I said it was not foolproof, not that it couldn't work. If you can find a seller willing to drop his anonimity in order to sell you bitcoins via WU, you should be suspicious if s/he doesn't charge you at least a small premium.
How? Sender gives you password, you withdraw dollar or euro bills at your local WU depo. When money is physically in your hands and you go home, send BTC to the guy who sent you WU. Nobody can take it away from you and it can't be fake money because it comes from the local Western Union, not the sender himself. If money doesn't arrive, don't send BTC. I'd be interested in knowing how you were scammed by WU also. I have done a lot of WU and would like to know this for future reference, To protect myself. It was decades ago, and was partly due to my own stupidity. I don't doubt that they have improved the system since, but I don't know because I don't use them. I'd rather not discuss the errors of my youth. |
|
|
|
I was under the impression that transactions are free. I know you can nominate a transaction fee but if I wanted to say, transfer some mined coins from one computer to my main wallet, I would have to pay a fee? And to whom? The system?
Transaction fees are usually voluntary, but there are some fees required for certain types of transactions. For example, there is a small fee for sending very small amounts that is intended to limit 'transaction spamming' of people sending vast numbers of small amounts to themselves repeatedly. This lower limit is currently in the process of being lowered from .01 bitcoins, as when this was instituted it was a very small fraction of a cent. Another required fee exists for unusually large transactions, such as you might get if you had 1000 input transactions of .02 bitcoin each trying to total up to pay a bill of 19.99 bitcoin. Yet another required fee is for the -sendtomany option employed by the mining pools to distribute earnings to all the pool members in a single transaction. Still another is required if you were to create an unusual transaction via the internal transaction scripting language, which is not really functional just yet anyway, but will allow the sender to do some nifty things; such as create conditional transactions, claimable transactions, and time-locked/delayed transactions. |
|
|
|
|
Micropayments are likely to be handled by online wallet sites, like Mybitcoin.com works now. For example, when a Mybitcoin.com user sends funds to another user, the transaction is entirely internal, occurs instantly, and can be of an infinately small amount. Bitcoin is more likely to function as a kind of monetary backbone between users and these varied wallet services. Many popular online games are going to probably run their own wallet services, wherein you can deposit a lump sum to be spent over a period of time, and then withdraw the balance if you so desire. The important part is that they all use Bitcoin as their underlying currency, and don't all try to invent a digital currency of their own.
|
|
|
|
What if the US instead saw this as an oportunity to secure their wealth by owning most of the bitcoins in the world?
Who is the "US" in this context? |
|
|
|
I know that the USA=/=the world, but Europe and the rest of the world is even more statist than the US and prone to banning threats to government financial power, so if fear of bitcoin prompts the US to ban it, I don't see why this fear wouldn't also be present in the other governments of the world.
As for the cyclical growth, I can see a lull for a day or two as people try to cash in a bit on the big spike, but more than a few days suggests to me that the threat of gov't action is more of an issue than you suggest, especially when the numbers of people learning about Bitcoin is surely following an exponential curve. The more veteran Bitcoin users can dismiss this threat more readily, I think, but the newer bitcoin users are those that are less and less knowledgeable on cyptocurrency economics, and would thus be more fearful of gov't action. If it is merely a technical lull, it would have to jump by 10 dollars or more in the next few days.
And to the last two posters: The government can't do anything to Bitcoin itself, but by making it illegal, it prevents the growth of bitcoin into the mainstream. Forget buying anything on Amazon while this government ban lasts.
We've had lulls that lasted for months. A couple days is meaningless. |
|
|
|
If you're just going to make up your own definitions for words then there's really no point in having a discussion. You mean like how the libertarians and ACists have redefined the words "violence", "force", and "aggression"? (Hint: If I snatch your coat off the coat rack while you're dining in a fancy restaurant, I have not used force against you, my act was non-violent, and I have not aggressed against you.) No, but you have aggressed against the establishment, who was under an implicit agreement to secure my coat. Once you steal it, he is then responsible to me for my loss. |
|
|
|
|
There are a lot of things that they could do, the question is, would these methods be effictive. Probably not, in the long run, if the successes of the "War on (some) Drugs" and the persecution of p2p filesharing are any indicator. That doesn't mean that the thugs can't hurt some people in the near term, though.
|
|
|
|
And as the "Difficulty" increases, does that mean the number of mined BTC decreases?
No. The number of bitcoins does vary somewhat, but the entire point of the changing difficulty is to keep the average new currency creation rate to 7200 per day until January of 2013. |
|
|
|
Does anyone know of a website/widget where one can go to average out some of the volatility over the past little while, and get a USD/BTC rate out?
Bitcoinwatch.com has 24hour, 7 day, and 30 weighted average statistics on the bottom of the main page. If you can extract that number once a day, you should be able to set prices automaticly. If need be, take the 24 hr number and add an extra 1% to cover your but against the near term voltility. |
|
|
|
|
Also, the OTC trade bot on bitcoin's IRC channel might be worth a look. I've never used it myself, but I understand it gets quite a bit of traffic.
|
|
|
|
Thank you for your prompt help!
Can you suggest a method? I am flexible and willing to extend a bit of good faith for someone with a history of good transactions. I too would much prefer to preserve my anonymity.
Cash in person is ideal, if you live in a major urban area. If you can find a seller near you, arrange a meeting at a coffehouse with a wifi hotspot; and bring your laptop. |
|
|
|
All the publicity about the Silk Road is definitely driving up the sales of bitcoins. In the last week, the listings on that site, and the orders, have more than doubled. How many of those new listings were DEA agents? I'm sure we will find out. |
|
|
|
Also it probably wouldn't be that hard to refund everyone before it gets shut down anyway. Bitcoin is somewhat easier to dump when the cops show up then say gold...
This could work. A bitcoin bank intended for rapid, small transactions between users, wherein every user has a "panic" address that his balance can be dumped to if the feds show up with a warrant for the servers. There could be a foot button under the attendent's desk to push when they walk up, and by the time they can walk over to unplug the router the entire value of the bank has been "withdrawn". |
|
|
|
|
I've been scammed with WU before, I said it was not foolproof, not that it couldn't work. If you can find a seller willing to drop his anonimity in order to sell you bitcoins via WU, you should be suspicious if s/he doesn't charge you at least a small premium.
|
|
|
|
I think we all know why Bitcoin has been hung up around $18-19 for as long as it has. It's the fear of governments making it illegal. Am I the only one who thinks that this is irrelevant?
The lull in price movements is a cyclic event that occurs naturally, and likely has nothing at all to do with the threat of government action. If the bitcoin market cared what Schumer thought about bitcoins, then the trade volume would have spiked and the price dropped as the fearful tried to exit. The stable price between $18-$19 started before Schumer's threats, and indicates that the bitcoin market just doesn't really care. |
|
|
|
|
Show Posts
