This is my first post here. Just registered to share an alternate solution to this problem, which I faced too. Running the desktop in no-frills mode just sucks (at least in my computer: it looks like I lose any kind of 2D acceleration and whatnot).
Well, since the problem is in some piece of software running in the X11 server, just let bitcoin run in a different server, by using Xnest:
$ sudo apt-get install xnest
$ Xnest -geometry 800x600 :1 &
$ DISPLAY=:1 xcalc ## <-- just a test—move the pointer over the xcalc window and press 'q' to exit
$ DISPLAY=:1 bitcoin &
When Xnest is run, a new, empty window will appear, which acts as a regular X11 client to the server, but can also act as a new server to clients. Then we fire bitcoin against this new server, which isn't running compiz, and enjoy.
If you wish to thank me, I welcome your bitcoin cents at (errr seems like copy-paste doesn't work among X11 servers, which makes sense) 19GgbRa54uQKkuvpWtajV86BurRuubvk12. Of course, not only cents but whole bitcoins are also accepted!