Mrpumperitis
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April 27, 2016, 04:12:15 PM |
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 You can now Pay for Steam Games with Bitcoin, adding an all new payment method to the gaming platform. Bitcoin has been rarely discussed positively in the news lately, but the cryptocurrency still remains one the most used digital currencies out there, with no competing standard being anywhere near as popular or widely used as bitcoin. Bitcoin has been added to several digital storefronts over the past few years, with Steam being the latest online storefront to adopt it. At this time, it is thought that Valve are using the third party BitPay company to handle all Bitcoin transactions, automatically converting the digital currency into more standard currency like USD or GBP. http://www.overclock3d.net/articles/gpu_displays/you_can_now_pay_for_steam_games_with_bitcoin/1woaaaaa
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whoreble
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April 27, 2016, 04:22:55 PM |
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^^^^^ porkchops pumping crypto... well I'll be...
Ether tho, gotta love it. How much more sporting/explicit could we expect Vitalik to be? I mean, could've called it "Lingering mistake" I suppose, or "Big bunch of nothing," or "A lazy way to not face the glaring contradictions of intuitively acceptable, though otherwise wrong theories"... all very explicit, but just too long. And (disclaimer: I know nothing of ETH) the supergoldbergian complexity! You know that Kickstarter disaster, the 400-dollar cooler with blenders and speakers and vacuum cleaner attachments that also sucks as a cooler? That!  |
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AlexGR
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April 27, 2016, 04:49:06 PM |
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BTC+gaming integration is extremely huge for bitcoin's long-term fundamentals and the training of a potentially very big user base. Not to repeat myself, but: The best "crowd" to "train" are young tech-savy people (teenagers+). They'll need ...zero training as they figure out everything, just as they did with dogecoin. We need to merge BTC with the millions of online gamers. Games where people can win BTC through their gameplay or pay with BTC for advanced game priviledges, or transact with BTC between each other for exchanging items, accounts etc. These young people also tend to have GPUs and thus can become indirect BTC miners through GPU multipools.
I've stated it before but online games are the way... massive user base (tens of millions of young gamers) who are tech-knowledgeable and won't have an issue using cryptos.
Want to sell a virtual item? A game account? Something in-game related? BTC is the way... Same for game companies... they can have users use BTC for paying for their premium stuff or reward players with BTC for winning something, like a tournament or in-game achievements.
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Mrpumperitis
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April 27, 2016, 04:58:01 PM |
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BTC+gaming integration is extremely huge for bitcoin's long-term fundamentals and the training of a potentially very big user base. Not to repeat myself, but: The best "crowd" to "train" are young tech-savy people (teenagers+). They'll need ...zero training as they figure out everything, just as they did with dogecoin. We need to merge BTC with the millions of online gamers. Games where people can win BTC through their gameplay or pay with BTC for advanced game priviledges, or transact with BTC between each other for exchanging items, accounts etc. These young people also tend to have GPUs and thus can become indirect BTC miners through GPU multipools.
I've stated it before but online games are the way... massive user base (tens of millions of young gamers) who are tech-knowledgeable and won't have an issue using cryptos.
Want to sell a virtual item? A game account? Something in-game related? BTC is the way... Same for game companies... they can have users use BTC for paying for their premium stuff or reward players with BTC for winning something, like a tournament or in-game achievements.
agree m8 also think xbox and ps will add to their stores soon, now that japan has officially recognised btc as money.. "Even more encouraging in many ways was the other news, that the Japanese government had devised a set of bills that would effectively recognize Bitcoin as a currency and put some regulations in place." http://www.nasdaq.com/article/the-reasons-behind-bitcoins-continued-rise-cm612238#ixzz472yNZbBN |
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finkelsteinMonster
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April 27, 2016, 05:12:46 PM |
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BTC+gaming integration is extremely huge for bitcoin's long-term fundamentals and the training of a potentially very big user base. ...
*grooming |
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adamstgBit
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Trusted Bitcoiner
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April 27, 2016, 05:23:02 PM |
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this makes you wonder how mistakes like this happen...
what client were they using?
dosnt core warn you if you try and send a fee that is 100,000times higher then the amount you are sending?
you'd think most wallets have implemented some common sense checks before sending.
It usually happens because someone who doesn't understand how change transactions work in bitcoin tries to spend a portion of the funds in a paper or brain wallet. If you send funds from a paper or brain wallet, you need to make sure to send ALL of it at once to your wallet, then spend a portion from that. When you spend bitcoins, the amount you spend comes out of chunks you have received (inputs), and usually, there will be at least two outputs - one is the spend, and the other is the change, which is sent back to an address you own. If you create a transaction that spends from one or more inputs without spending ALL of the funds contained in those inputs, and you don't provide an output to a change address you own, any funds in the inputs that exceeds the spend will become transaction fees paid to the miner that mines the block containing the transaction. All software and hardware wallets, as far as I know, handle that stuff for you, and yes, Core, at least, will warn you if you try to send with an excessive manual fee. this is very interesting i have always simply imported the private key from paper wallets to a BTC wallet. I see why someone would want to figure out a way to spend funds from a paper wallet private key without having to import the key. like have a tool which can create and sign a TX given a private key. I bet thats exactly what the user was trying to do for the TX in question. he tried to send 0.001BTC as a test, and that worked, but he failed to realize how important it is to provide a change address. so TX fees are not explicitly stated in a TX, the fee is the leftover funds after the TX is complete, for example you have a TX says: use this 50BTC address to send 1BTC to addressA and 49BTC to addressB(change address). then you're paying 0.0BTC TX fees OR use this 50BTC address to send 1BTC to addressA. then you're paying 49BTC TX fees i can see how this would lead to this kind of mistake when users try to construct three own TX with some tool and they dont know what they are doing. if the miner really is trying to track down the user inorder to return the funds why dosnt he just send the BTC back to the address it was spent from... send the funds back to 1QgTYzMYqStzZBQx8gguYaJQMjFRbagbh https://blockchain.info/address/1QgTYzMYqStzZBQx8gguYaJQMjFRbagbh |
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Mrpumperitis
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April 27, 2016, 05:24:49 PM |
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BTC+gaming integration is extremely huge for bitcoin's long-term fundamentals and the training of a potentially very big user base. ...
*grooming lol, all of us have been groomed, collecting virtual coins since childhood. Mario coins and sonics alt rings,lol |
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LMGTFY
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April 27, 2016, 05:34:19 PM |
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Two words - British banks! Researches receiving grants in BTC are going to encounter problems with it. They're going to need to spend GBP at some point, and they'll need to explain to their bank where the money came from. The government has been fairly positive about crypto (opportunity for British businesses, enterprise, innovation - the usual reasons). Our banks... not so much. There used to be GBP exchanges (Britcoin, then Intersango, maybe a few others). No more. When I buy BTC via Localbitcoin I usually have to use something like "ebay purchase" as the reference for the seller's bank. I'm not convinced recipients of government grants are going to be comfortable doing that... even if they are, their auditors won't be. (Behind the scenes British banks are interested in the blockchain. They just don't want us using that nasty magic internet money associated with the blockchain, however). |
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xyzzy099
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April 27, 2016, 05:35:21 PM |
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so TX fees are not explicitly stated in a TX, the fee is the leftover funds after the TX is complete, for example you have a TX says:
use this 50BTC address to send 1BTC to addressA and 49BTC to addressB(change address). then you're paying 0.0BTC TX fees
OR
use this 50BTC address to send 1BTC to addressA. then you're paying 49BTC TX fees
i can see how this would lead to this kind of mistake when users try to construct three own TX with some tool and they dont know what they are doing.
Yes, that is correct. Fee = inputs - outputs Good question |
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yefi
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April 27, 2016, 05:40:41 PM |
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Dayyum. Think that has to be a record for the highest transaction fee. As the funds appear to have come out of a tumbler, somebody is probably going to get shot... |
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noobtrader
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April 27, 2016, 05:45:22 PM |
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Two words - British banks! Researches receiving grants in BTC are going to encounter problems with it. They're going to need to spend GBP at some point, and they'll need to explain to their bank where the money came from. The government has been fairly positive about crypto (opportunity for British businesses, enterprise, innovation - the usual reasons). Our banks... not so much. There used to be GBP exchanges (Britcoin, then Intersango, maybe a few others). No more. When I buy BTC via Localbitcoin I usually have to use something like "ebay purchase" as the reference for the seller's bank. I'm not convinced recipients of government grants are going to be comfortable doing that... even if they are, their auditors won't be. (Behind the scenes British banks are interested in the blockchain. They just don't want us using that nasty magic internet money associated with the blockchain, however). but surely if Gov paying out research grant with bitcoin, they dont need to explain anything to the bank. its a Gov research grant  |
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Mrpumperitis
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April 27, 2016, 05:48:24 PM |
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Two words - British banks! Researches receiving grants in BTC are going to encounter problems with it. They're going to need to spend GBP at some point, and they'll need to explain to their bank where the money came from. The government has been fairly positive about crypto (opportunity for British businesses, enterprise, innovation - the usual reasons). Our banks... not so much. There used to be GBP exchanges (Britcoin, then Intersango, maybe a few others). No more. When I buy BTC via Localbitcoin I usually have to use something like "ebay purchase" as the reference for the seller's bank. I'm not convinced recipients of government grants are going to be comfortable doing that... even if they are, their auditors won't be. (Behind the scenes British banks are interested in the blockchain. They just don't want us using that nasty magic internet money associated with the blockchain, however). but surely if Gov paying out research grant with bitcoin, they dont need to explain anything to the bank. its a Gov research grant A bit more cheerful than Russia then. They've really got to get some banks to play though. Hopefully Fidor are going to do something but they may well be frozen out by the biggies. Bitcoin Payments Company Circle Scores Partnership With Barclays and E-Money License for UK Expansion “Bitcoin Bank” Circle announced that people in the U.K. can now experience social payments over the open Internet in their native currency, pound sterling (GBP), using Circle’s updated apps for Android, iOS and the Web. The company was granted an e-money license by the U.K. Financial Conduct Authority. make GBP payments instantly, with zero fees Circle also announced that it’s eliminating transaction and withdrawal limits for customers in all of the 150+ countries where Circle is available. According to The New York Times, this is the first time that a large global bank has agreed to work with a Bitcoin company. lol |
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LMGTFY
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April 27, 2016, 05:58:53 PM |
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Two words - British banks! Researches receiving grants in BTC are going to encounter problems with it. They're going to need to spend GBP at some point, and they'll need to explain to their bank where the money came from. The government has been fairly positive about crypto (opportunity for British businesses, enterprise, innovation - the usual reasons). Our banks... not so much. There used to be GBP exchanges (Britcoin, then Intersango, maybe a few others). No more. When I buy BTC via Localbitcoin I usually have to use something like "ebay purchase" as the reference for the seller's bank. I'm not convinced recipients of government grants are going to be comfortable doing that... even if they are, their auditors won't be. (Behind the scenes British banks are interested in the blockchain. They just don't want us using that nasty magic internet money associated with the blockchain, however). but surely if Gov paying out research grant with bitcoin, they dont need to explain anything to the bank. its a Gov research grant Assuming they need to spend some of that grant in GBP, they'll need to exchange BTC for GBP. It's the GBP hitting the bank that they'll need to explain - if the GBP comes from an exchange, it'll potentially raise a red-flag. I assume a cheque or transfer from a government funding body would go through without a second thought, like any other non-BTC-related deposit. On the other hand, a government endorsement like this might be the push British banks need to stop dicking around. @Mrpumperitis - that is good news (and good news for BTC-friendly researchers, too!). Weren't Barclays setting up a blockchain research lab or similar? They've gone up in my estimation. I might have a word with my local branch about BTC... |
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AlexGR
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April 27, 2016, 06:05:03 PM |
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BTC+gaming integration is extremely huge for bitcoin's long-term fundamentals and the training of a potentially very big user base. Not to repeat myself, but: The best "crowd" to "train" are young tech-savy people (teenagers+). They'll need ...zero training as they figure out everything, just as they did with dogecoin. We need to merge BTC with the millions of online gamers. Games where people can win BTC through their gameplay or pay with BTC for advanced game priviledges, or transact with BTC between each other for exchanging items, accounts etc. These young people also tend to have GPUs and thus can become indirect BTC miners through GPU multipools.
I've stated it before but online games are the way... massive user base (tens of millions of young gamers) who are tech-knowledgeable and won't have an issue using cryptos.
Want to sell a virtual item? A game account? Something in-game related? BTC is the way... Same for game companies... they can have users use BTC for paying for their premium stuff or reward players with BTC for winning something, like a tournament or in-game achievements.
agree m8 also think xbox and ps will add to their stores soon, now that japan has officially recognised btc as money.. "Even more encouraging in many ways was the other news, that the Japanese government had devised a set of bills that would effectively recognize Bitcoin as a currency and put some regulations in place." http://www.nasdaq.com/article/the-reasons-behind-bitcoins-continued-rise-cm612238#ixzz472yNZbBNThe "best" will be when in-game economies start mixing with RL-economies with bitcoin as the gateway. I've already seen some samples of this on a massive online game where players were getting bitcoins as rewards for completing in-game tasks / in-game challenges. And we already have cases of virtual goods or accounts being sold for btcs. Interestingly BTC has an advantage here over paypal, due to non-reversibility. This disallows someone to buy an ingame account or property and then reverse through paypal, keeping both money and virtual goods. |
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road to morocco
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April 27, 2016, 06:11:32 PM |
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Assuming they need to spend some of that grant in GBP, they'll need to exchange BTC for GBP. It's the GBP hitting the bank that they'll need to explain - if the GBP comes from an exchange, it'll potentially raise a red-flag. I assume a cheque or transfer from a government funding body would go through without a second thought, like any other non-BTC-related deposit. "The United Kingdom’s government is exploring using bitcoin, or some permutation of the blockchain technology that underpins it, to pay out and monitor taxpayer-funded research grants.... A spokesperson said the use of bitcoin to disburse funds was “a possibility” and that the office isn’t ruling out any particular technology. “The government is looking into any sort of blockchain technique, bitcoin is one of those. It is open to all ideas,”" This gets twisted into "why isn't BTC skyrocketing" >> "b/coz fkn gubbermint hatin' on our bitcoins!" |
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LMGTFY
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April 27, 2016, 06:34:57 PM |
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Assuming they need to spend some of that grant in GBP, they'll need to exchange BTC for GBP. It's the GBP hitting the bank that they'll need to explain - if the GBP comes from an exchange, it'll potentially raise a red-flag. I assume a cheque or transfer from a government funding body would go through without a second thought, like any other non-BTC-related deposit. "The United Kingdom’s government is exploring using bitcoin, or some permutation of the blockchain technology that underpins it, to pay out and monitor taxpayer-funded research grants.... A spokesperson said the use of bitcoin to disburse funds was “a possibility” and that the office isn’t ruling out any particular technology. “The government is looking into any sort of blockchain technique, bitcoin is one of those. It is open to all ideas,”" This gets twisted into "why isn't BTC skyrocketing" >> "b/coz fkn gubbermint hatin' on our bitcoins!" Huh? (a) I'm not asking why BTC isn't skyrocketing. I doubt it will as a result of this. (b) "The government has been fairly positive about crypto (opportunity for British businesses, enterprise, innovation - the usual reasons). Our banks... not so much." |
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road to morocco
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April 27, 2016, 06:39:21 PM |
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^^The post you're responding to: how come this news doesnt affect bitcoin price in positive way but sure, a teeny bit hyperbolic on my part  |
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LMGTFY
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April 27, 2016, 06:42:55 PM |
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^^The post you're responding to: how come this news doesnt affect bitcoin price in positive way but sure, a teeny bit hyperbolic on my part Oh, sorry, I thought you were directing your post at me, not the post I was responding to. |
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road to morocco
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April 27, 2016, 07:00:03 PM |
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