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that's bad, i thought that the fee's destiny was the same as the reward, they should fix this to prevent centralization of the money when the reward will be worthless
i'm not confusing, i was convinced that the fee were divided like the block reward, and this is not the case then it should be fixed for the future
otherwise how the miners will survive when the block reward will be pointless?
I don't think you understood. The block reward , along with the tx fees goes to the miner who found the block, which in this case is the pool operator. It is up to the pool to then divide and send the miners , their dividends according to their hashrate ... and if the pool operator makes rules that won't give miners any reward, you can rest assured that miners will not mine for the pool. So the problem solves itself using market dynamics  |
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the mining fee is divided proportionally by the hash of the miners right? if you have 1/10 of the hash you get 1/10 of the total fee?
No. Only one party (the one mining the block) will get 100% of the money. wait, how it work with pool then? it must be divided in the end, or the pool get all the money from fees? The pool gets all the money (25 BTC+fees) and can then distribute the money to its users. Or not, depending on the pool operator and its rules. This is not part of the bitcoin protocol. |
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the mining fee is divided proportionally by the hash of the miners right? if you have 1/10 of the hash you get 1/10 of the total fee?
No. Only one party (the one mining the block) will get 100% of the money. |
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I am quite unhappy with the quality of posts on this forum nowadays myself.
Maybe getting rid of the option of signature campaigns would help to bring it back to the level of 2013.
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why do you think that the block reward halving will have this kind of effect on price?
We have the previous block halving to go by and we also have other alt coins to go by. People are invested in the network before halving and after halving they change nothing, so the price goes up since the supply is less. Market prices incorporate information as soon as this information is available. The future supply of Bitcoin is completely transparent. All market participants are able to react now. A price movement only happens when new information enters the market place. The halving is not new information and should therefore be reflected in the price already. Generally, the supply of anything being cut by 50% will spike the price I drink beer so if I am told by the brewery there will be 50% less supply of beer in the world every day after next June..... I will buy a pile of it before that...... But maybe not yet A month or two before June I would buy it.... True, price does increase if supply decreases. However, this price increase does happen as soon as people know about the supply situation. Your brewery told you about the 50% supply cut in 2016 on the day that Satoshi published bitcoin. Since then, no new information about bitcoin supply has entered the marketplace. |
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why do you think that the block reward halving will have this kind of effect on price?
We have the previous block halving to go by and we also have other alt coins to go by. People are invested in the network before halving and after halving they change nothing, so the price goes up since the supply is less. Market prices incorporate information as soon as this information is available. The future supply of Bitcoin is completely transparent. All market participants are able to react now. A price movement only happens when new information enters the market place. The halving is not new information and should therefore be reflected in the price already. |
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why do you think that the block reward halving will have this kind of effect on price?
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I think that the president of PRC has a better chance to harm Bitcoin.
Please correct me if I am wrong (and I mean it, cause I am not 100% certain of this).
So, imho, if China decides to shutdown their internet or disconnect it from the rest of the world, then most Bitcoin miners will be cut off.
Until the network will adjust for that it takes quite a number of days - I don't know how it's calculated - but for some while the transactions will be VERY slow.
If this will take too long (which is a relative term) this would harm the network a lot and some may / will leave it.
Now, after the difficulty dropped this much, the Chinese have a chance that at the point their network is back to even do a 51% attack. Though unlikely since it's bad for business, this still can happen, theoretically.
Of course, I may be in a big confusion, somebody should check this theory against the possible reality.
Ok quick back of the envelope calculation for you. Let's assume China has 60% of global hashing power (as stated here https://www.buybitcoinworldwide.com/kb/which-countries-mine-export-most-bitcoins/ ). If those 60% were to go offline at the exact same time, the remaining 40% miners would indeed take longer to confirm blocks. A block that took an average 10 min before would then take exactly 10min/0.4=25min to confirm. This state would persist until the next difficulty change which will be an expected 7 days (or a theoretical maximum of 14 days) away. After the difficulty change, block confirmation time would be back to an average of 10min. The impact of this scenario is therefore minor. As to the 51% scenario, I am not sure how one actor would be able to control all of China's mining resources, even if they are backed by the government. |
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Have times really moved on already?
I would have imagined that at least one of the above posters has been goxxed like me.
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Known information such as all future halvings are already anticipated and therefore reflected in current prices. No price increase to be expected.
No price increase ever eh? Guess demand never increases either then as seen over the last 5 years... Whenever something positive happens that hasn't been anticipated before. But no price increases because of events that we already know will happen. If demand increases more than the average market participant anticipates, BTC price will increase. Okay... Don't worry, I am quite bullish myself There will certainly be price increases because of unanticipated positive events (but also unfortunately price decreases because of unanticipated negative events). The halving is not unanticipated. |
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Known information such as all future halvings are already anticipated and therefore reflected in current prices. No price increase to be expected.
No price increase ever eh? Guess demand never increases either then as seen over the last 5 years... Sure there will be price increases. Whenever something positive happens that hasn't been anticipated before. But no price increases because of events that we already know will happen. If demand increases more than the average market participant anticipates, BTC price will increase. |
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Known information such as all future halvings are already anticipated and therefore reflected in current prices. No price increase to be expected.
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$500k is an amount that should be possible via the larger exchanges, see https://bitcoinwisdom.com/Since the market at each moment and at each exchange is not that deep, you would probably divide between different exchanges and multiple days. |
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Whether or not Bill Gates himself is an open proponent of Bitcoin, this remains quite good news.
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Open wallet found with 0.09252 BTC ? https://blockchain.info/address/16ga2uqnF1NqpAuQeeg7sTCAdtDUwDyJavprivate key: 5JXvHQfGHxUffo8BLRG1RBecRCZ2Jygtx5cNSiZoyk5Zcmhsdso when you try to move the BTC, here is error message  Insufficient Funds This transaction cannot be sent because there are insufficent funds available. This may be due to additional miners fees or unconfirmed transactions. The transaction can either be cancelled. Or the amount to send can be adjusted to match the maximum amount available to send. The bitcoins can't be sent because the cost of sending them is more than their value. There is more than 0.1 BTC in the wallet, it doesn't cost more than that to send them right? If you look at transaction history you can see that some coins were spent at some point Total Received 0.24753891 BTC Final Balance 0.11123 BTC or what you are saying is that at least 1 transactions in this BTC address should have been more than average fee (0.0001) is that correct? The "average fee" you are quoting is not enough for a transaction from this address. It is enough for your "average" address, but there are transactions that require far higher than average transaction cost. See https://en.bitcoin.it/wiki/Transaction_fees for a description of how the transaction fee depends on the transaction size (0.1 mBTC (0.0001 BTC) per thousand bytes). |
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Following the same reasoning, let's redistribute the wealth of the top 1% to the rest of the population.
That would 99% of people happy. You can hardly wish for more support!
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well I think all money from sale will not come anywhere near karpeles - administrators will process it. so many creditors to deal with, how to decide who gets a piece? somehow no point to divide 750k by total number creditors! but i know he also is trying to keep his other business running etc., i wonder where gets even money to do this! and whether he will auction more domains.....like mtgox.com? (or similar, do not remember url exactly)!
This would be true if the domain name was owned by MtGox or maybe Tibanne Ltd. If it is Mark's property the proceeds will likely not be affected by MtGox's bankruptcy at all. |
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Great that you are doing a project on Bitcoin -- should be beneficial for all that are involved!
I do not understand, however, why you are asking for money...
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You need to put in the amount of Bitcoin you want to get for your 60 EUR.
This will be based on the market price of the exchange.
Example: Current market price is EUR 450 for 1 BTC. Then 60 EUR will buy you 0.1333 BTC.
So you would put 0.1333 BTC / 60 EUR if you are willing to buy at EUR 450. You can put any price you want, if it is higher or equal than the current market price, the trade will be executed.
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less than before I conducted business with Mr. Karpeles
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