It is downloaded from peers.


How does DHT work?  Could something like that be implemented for Bitcoin?

Your client itself can verify the coins exist; this is why we all keep a copy of the entire block chain.  Waiting for confirmations is just so that people don't double spend.

But yes, we are getting off topic.

I figured that "COMING SOON!" flash area was for something very similar to this.  It seems I was right.

I'd buy one.  This sounds like a great idea.

Any idea how it works internally?

This is a great idea.  My only problem: the link labeled home is dead, it leads to http://n2ation.org/bitnav

Have any plans for news shows on there as well?

I agree that you could just assume that it isn't a double spend.  If it is a transaction worth less than a few USD, you don't really lose all the much if it is a double spend.  On top of that the resources required to double-spend are outrageously high compared to the free cup of coffee that you could get if you double-spent.  The profit motive doesn't exist to double-spend small transactions.

Now for larger things, it might be better to wait for a few confirmations, but people do that anyhow.  You generally need paper-work and such for large transactions.  If I bought a house or car with BTC, I would be Ok waiting an hour to get it.

Someone should make a site that just displays a random mirror, one at a time.  Maybe forces you to solve a CAPTCHA to see it.

Kinda like the Tor Bridge Relay service.  That way it is very very hard to block them all.

I think that if you just download the block chain and stick it in the bitcoin directory then the Bitcoin client doesn't check if they are valid.  It just assumes they are.

Isn't that what the -rescan option is for?  Re-validating the block-chain?  Or am I mistaken?

Could they take it further and just use the solved block themselves?

Collect the generation reward for themselves whilst still being paid by the pool for the efforts that they are never truly contributing with.

Lets not be so jumpy here.  I'm sure he means well.

I agree though, it has nothing to do with if you trust yourself.  It is to protect others.

Anyone know exactly what is going on?  I don't do investing, but this looks bad.  Far worse than Bitcoin on bad days.

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http://latimesblogs.latimes.com/money_co/2011/08/global-stock-markets-sink-again.html

Would it be possible to use Code Signing to actually sing the executable themselves?  At least on Windows this would be effective as far as I know.

Not quite.  As the volume grows a higher percentage of people will likely attach fees.  Just to give an incentive to get their transaction included in the next block.

I know if there were 100 times the volume I would include a fee more often.

I don't have to login anywhere and I often forget my Paypal password because they are always auditing my account and forcing me to change my password (I have had to prove who I am to them via fax twice in the past 6 months).

With Bitcoin I just copy/paste the address and I'm done.  No username/password to remember, no one auditing my account, no one asking me for personal information, no waiting on people to verify my information.  Just simple clean transacting, just like cash.

Last 5 blocks with any transactions (there was one that only had the generation transaction).

Right now the reward is "reward + fees" but the fees constitute to almost nothing giving a reward of ~50BTC.  I'm hoping that by the time the generation award of 50BTC drops to 25BTC that the fees will be at about 25BTC per block.  If this happens than "reward + fees" will still be ~50BTC.

As the network grows more fees will be pushed through the system.  I'm merely speculating about the amount of fees that will eventually be collected.

Somehow though I bet they still use that same list.

Could someone check that though.

I think I understand this.

So here is how we determine if we get a fee:

• First we computer the first part of the priority by taking the value of the each transaction input and multiplying that by its age.
• We then sum the values we just computed for each input and multiply by the transaction size to get our priority
• A fee is then required if the variable (COIN [what is the value of this?] multiplied by 144 divided by 250) is more than 0.05
• The fee is then dismissed if the block still has a lot of free room
• But potentially re-added (or added to begin with) if we are sending less than 0.01 BTC.

My C++ isn't very sharp (I am a PHP coder) and I am getting this all out of context, so if someone could correct me where I am wrong, I would appreciate it.

I use it for the following:

• Micropayments: I give people 0.01-0.10BTC all the time for stuff.
• Online Goods: Whole lot easier than dealing with Paypal. This also makes a great universal currency.
• Donating to Wikileaks and the FSF (and previously EFF).

I really like the speed and ease at which I can make international payments. And I don't feel bad about giving someone a small amount of Bitcoins.  If I try to send someone 0.01USD Paypal would eat it with fees, but sending someone the equivalent in Bitcoin is simple and easy.

I'm in northern MD, so I guess that won't work.

Still... if I'm ever in town.  I'll make sure to PM you before  I head out.