Technical Discussions Thread

[NilamDoc]

The problem is not with the wallet, the problem is with the client 0.7 which was mining. It was not able to accept block chain height 225430.

So,
- if you are using 0.8 -- do not worry
- if you are using 0.8 and mining - stop mining and wait till proper instruction comes from the core development team.
- if you are using 0.7 and not mining - do not worry
- if you are using 0.7 and mining - stop mining and wait till proper instruction comes from the core development team.

blockchain.info has the same alert message and also https://mtgox.zendesk.com/entries/21477395-Bitcoin-blockchain-issue-bitcoin-deposits-temporarily-suspended has stopped accepting deposits / inputs

Do not spend, till further notice comes from the team of core developers.

[NilamDoc]

You can watch the ongoing battle, here, at blockchain.info/blocks. The orphaned blocks are part of the 0.7 chain which is trying to catch up to the longer, 0.8 main chain.

It will take some time for all the Orphaned blocks to cope up and attach to main chain.

[Benson Samuel]

Any bad losses for anyone here in India?

I seem to have mined a bunch of 0.8 .

Well, atleast it is back up and doing as well as before!

I think this episode will push the price past 50.

[NilamDoc]

Block chain is catching up!

225431 (Orphaned)    2013-03-11 23:43:30    00000000000000f2c09bd58b84a7ef33fbc038a6fed97c072643b1e61d8ab841
225431 (Main Chain)    2013-03-11 22:46:35    00000000000002d2012cc1b3fc0cceb8c156f0e698db40bf4413a210eca056c3

So it should be stable in a couple of hours!

[Benson Samuel]

Yeah, am not worried.

This is good for bitcoin!

[NilamDoc]

Hi Benson,

This would be a good article to read!

http://bitcoinreport.com/will-bitcoin-reach-100000/

It has compared the market cap for different companies and projected the value of BTC.

It seems to be real in the sense that on 31st Dec 2012 the market cap was 141M and price was $13.43.

Today 12th Mar 2013, as I write this the market cap is 508M and the price is about $48.

As the number of users are increasing the market cap is going to hit 1B within a few months, I expect BTC to reach $80+ within a few months.

[NilamDoc]

Latest update

http://bitcoin.org/chainfork.html

No risk for any user, who are not mining...

[Pinwheel]

seems like price drop is what they wanted. People panicked price dropped to 36 now they will sale those coins for 45.

[Benson Samuel]

Hi Benson,

This would be a good article to read!

http://bitcoinreport.com/will-bitcoin-reach-100000/

It has compared the market cap for different companies and projected the value of BTC.

It seems to be real in the sense that on 31st Dec 2012 the market cap was 141M and price was $13.43.

Today 12th Mar 2013, as I write this the market cap is 508M and the price is about $48.

As the number of users are increasing the market cap is going to hit 1B within a few months, I expect BTC to reach $80+ within a few months.

Yes,

This was another article along the same lines.

http://falkvinge.net/2013/03/06/the-target-value-for-bitcoin-is-not-some-50-or-100-it-is-100000-to-1000000/

Values Bitcoin between $100K and $1mn US.

[Benson Samuel]

seems like price drop is what they wanted. People panicked price dropped to 36 now they will sale those coins for 45.

And all those who panicked will buy back the same coins at 45.. lmao

[Pinwheel]

that was second such drop since btc began current rise, (at least what I've seen) first time, someone, on Sunday placed sale on market rate order on mtgox and dropped price from 30 to 25. On Sundays buy volume not that great.

[Benson Samuel]

Its fluctuating again now.

[NilamDoc]

If you are running an older version, shut it down. Wait until it has completely shut down (which might take a few minutes for older
versions), then run the installer (on Windows) or just copy over /Applications/Bitcoin-Qt (on Mac) or bitcoind/bitcoin-qt (on Linux).

If you are upgrading from version 0.7.2 or earlier, the first time you run 0.8.1 your blockchain files will be re-indexed, which will take anywhere from 30 minutes to several hours, depending on the speed of your machine.


0.8.1 Release notes
===================

The 0.8.1 release has just two changes from the 0.8.0 release:

1. A new block-acceptance rule that will be enforced from 21 March 2013 until 15 May 2013 to prevent accepting blocks that fail to validate on pre-0.8 peers.

2. A new compiled-in checkpoint at block number 225,430 -- the first block of the 11 March 2013 chain fork.

I upgraded and found it to work well...

Support this upgrade!

[18dew]

Hi,

Benson since FinCEN recomendation it is bound to explode in more touching $80 in matter of few days itself as only point for restraint for bit coin has been only its legality status in USA, which Fin CEN guidance gave it a way.

[Benson Samuel]

Yes, there is also the Euro crisis which is pushing it forward faster in Europe as well.

[NilamDoc]

Hi Friends,

I am starting this technical section for all bitcoin friends. We will try to help out everyone need to install mining server, bitcoin servers, and any other issues in using bitcoin clients interacting with different programming languages.

[Benson Samuel]

I would be able to contribute knowledge of in depth client and server side implementations with web wallets or bitcoind.

I outsource work as well, especially PHP & API related.

[Amitabh S]

Hey NilamDoc and Benson, thanks for sharing this. I'm immune to this fork because I've abandoned my qt client long ago and moved to web-wallet.. 

[NilamDoc]

Yes, moving to a web wallet is an advantage for many users.

I have posted this info as we have many Bitcoin client used as miners and we would like to adhere to the schedule of the bitcoin team to be in sync with the rest of the world.

[Benson Samuel]

Anyone know any good combinations to replace PHP MySQL mainly for web dev?

Looking for something with wide developer support.