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Author Topic: Noob question  (Read 3166 times)
venom
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June 07, 2010, 03:28:02 PM
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Hello all - I am new to BitCoin.. I have read through the BitCoin FAQ, I have a basic idea of how the system works.. the only issue I'm having at the moment is that my computer is not creating any coins.  I even let the computer run for an entire day, without a single bitcoin being issued.  From what I read on some other posts it seems that some users are mentioning that the amount of BC$ being generated are less than in the good ole days, but still...  is it possible my client cannot create a single coin?  My computer is a bit old but I'm not sure that it's old to the point that it cannot create a bitcoin after an entire day of letting the CPU blast at 100% cpu usage and do nothing else, just letting the BitCoin client run.  Specs are : 2.8ghz Pentium 4, 512MB RAM.. and yes I have the latest Bitcoin installed - whatever is on the home page. 

Anyone have an idea what I could be doing wrong?  Mind you I'm not a programmer/developer, I'm just a digital currency enthusiast & early adopter trying to figure this thing out.
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lachesis
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June 07, 2010, 04:00:17 PM
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It's possible that you just got unlucky. Keep trying for a few days.

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June 07, 2010, 04:19:05 PM
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I have a Quadcore with 4x2,66 GHz and it still takes very long to generate coins.
Be patient Wink

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June 08, 2010, 03:44:41 PM
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It took me over a week to generate any coins, then I generated two blocks (100 bitcoins) in just a few hours  (running bitcoin on my 2GHZ dual core mac laptop).

While it is fun to see bitcoins generated "out of thin air", it is much more important to figure out how to make them easier to buy and easier to spend.  Since you're not a programmer/developer, I'd like to hear any ideas you have on how to make bitcoin less geeky and more user-friendly.

How often do you get the chance to work on a potentially world-changing project?
venom
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June 08, 2010, 05:12:55 PM
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Thank you for the replies - I didn't realize it could take an entire week to generate coins!

As far as suggestions on how to make it more accepted - I doubt I'll suggest anything that hasn't been mentioned already, but the key things are usually :

1) Numerous and easy availability of exchangers, possibly with very low spreads for exchange fees.  I get angry when I see DGC's (Digital Gold Currencies) charging as much as 5% for exchanging.. it's great for exchangers, but I think it's highway robbery.

2) Obviously the big one is - acceptance.  Get as many possible people, websites, companies, etc. to start accepting them...  I remember at the peak of e-gold's popularity back in the mid 2000's, e-gold was seen by its users to be as good as cash and perhaps even better.  Many places accepted it, many people accepted it.. there were plenty of uses for it, etc.  So get those buttons saying 'we accept BC$' or whatever on your websites, blogs or whatnot.. spread the message.

3) This one doesn't apply in this case because Bitcoin is designed for anonymity - but I was going to say, semi-anonymity or total anonymity is very important.  Not because people have anything to hide - but because people like their privacy, and simplicity.  I like using cash in my daily life because I can do things without government authorities and employees of credit card corporations, and employees of my bank, knowing how I live my life.  Say for instance you want to buy some kinky lingerie for your girlfriend or wife.  Does MasterCard, the police (with a warrant), lawyers (with warrants, etc.), government & taxation authorities in your country, do all these people really need to know about this purchase? Again it's not that you're doing anything wrong - it's just that privacy and liberty are highly valued by people and the logical fallacy that traceability somehow equals security is well, I'm sure any reasonably intelligent person can see the logical fallacy in that argument so no need to beat a dead horse... again, I know this doesn't apply to BitCoin, but just want to mention it.

4) Make it as non-geeky as possible.  Click a button, send money.  Click another button, receive money.  Make it idiot-proof.  It's not because people are idiots.. it's because, simple interfaces tend to be very appealing to mainstream people.

5) Along with #4, make sure to have a super-simple backup feature.  I know I can go into my documents and settings\application data\bitcoin\whatever to make a backup of my money, but my grandma won't bother doing that.  My grandma knows that if she opens her drawer, she's got her 100's stashed in there for a rainy day - that is her 'backup'.  Make the 'backup' feature - say, perhaps, to a flash drive - as idiot proof as possible. 

6) Give people some kind of assurance that there isn't a way that the operator of the currency can just start minting bitcoins at will.  It's probably irrelevant at the moment - but imagine if BC$ was as popular as e-gold in its heyday - the owner, if he were less than honest, could essentially be an Internet millionaire spending his own currency at will around the interwebs.   In theory it's possible with any digital currency - but at least, the theory behind the digital gold currencies is that if all else fails, you can call them up and redeem physical gold (I'm referring to c-gold, e-gold, Pecunix, GoldMoney, and probably many others) so you have something 'tangible' as backup.  What is BC backed by?  Just saying, these might be things that a skeptic will ask himself before wanting to use this currency.

Again I probably didn't add anything new, but I gave you my 2 cents anyway... hope it helps...
lachesis
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June 08, 2010, 07:03:54 PM
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I'm particularly interested in the backup part. What would need to be done to allow backups safely from within Bitcoin without shutting it down? Is there some way to flush the wallet and then lock it until the backup is complete?

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ihateregistering
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July 11, 2010, 12:30:27 AM
 #7

People should give their posts better titles.

It should be in the FAQ somewhere that generating bitcoins is a stochastic process, so more or less time might be spent on it. I've been at it for three days and haven't generated any coins yet. (From reading research paper I knew it was stochastic, but I didn't know that it could take *that* long for it to work.)
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July 11, 2010, 04:51:06 AM
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I'm particularly interested in the backup part. What would need to be done to allow backups safely from within Bitcoin without shutting it down? Is there some way to flush the wallet and then lock it until the backup is complete?

Perhaps as an import/export function, that exports the coins into a file which could then be sent over email, stored on USB, and even imported into another wallet.

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NewLibertyStandard
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July 11, 2010, 06:23:28 AM
 #9

I'm particularly interested in the backup part. What would need to be done to allow backups safely from within Bitcoin without shutting it down? Is there some way to flush the wallet and then lock it until the backup is complete?

Perhaps as an import/export function, that exports the coins into a file which could then be sent over email, stored on USB, and even imported into another wallet.
Backing up a wallet and sending bitcoins to a wallet really would be very useful features. I went ahead and started a thread requesting these features since the topic of this thread is unrelated.

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July 11, 2010, 06:27:29 AM
 #10

I'm particularly interested in the backup part. What would need to be done to allow backups safely from within Bitcoin without shutting it down? Is there some way to flush the wallet and then lock it until the backup is complete?

Perhaps as an import/export function, that exports the coins into a file which could then be sent over email, stored on USB, and even imported into another wallet.

I suggested in another thread the idea of an insurance agency that will store your wallet securely behind tor in a vault.Virtual tokens could be used for authentication to access the vault.If your wallet is lost this would require the insurance provider to pay for any loss you suffer.Further....to allow exporting your wallet easily is a crucial feature needed for security and acceptance.
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