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Silk Road goes down for the weekend; BTC crashes. | Silk Road, the illegal drug marketplace, reported over the past week that it would shut down its Tor Hidden Service at http://ianxz6zefk72ulzz.onion/ over the weekend, in order to upgrade the software.
Today, the first day of the outage, the price of BTC/USD fell all the way to $5.83 before recovering to a pathetic $6.61.
Correlation does not imply causation. However, if there is a causal link, one would expect the price of Bitcoin to pick back up on Monday, when Silk Road opens again.
Any thoughts? | The price of bitcoin is mostly speculation, I strongly doubt this had anything to do with it. Silkroad does not trade hundreds of thousands of dollars/day. | Bitcoin |
An example of Bitcoin prices 1 year ago | null | I can't believe bitcoins are over 6 USD. | Bitcoin |
BTCEX closes. | null | Serves them right. | Bitcoin |
"Bitcoin is the most dangerous open-source project ever created." | null | Transactions between addresses are public knowledge. Who 'owns' those addresses is not. You can also generate as many 'addresses' as you like.
Come on. You're on /r/BITCOIN. If you've come here to criticize the project, at least properly research it first. | Bitcoin |
WHY | null | [Transaction fees](https://en.bitcoin.it/wiki/Transaction_fees):
*Current "Default" Rules for the regular Bitcoin client (Bitcoin 0.3.20)
0.01 BTC fee if sending any transaction less than 0.01 BTC. **This is to help prevent DoS attacks against the network.** Remember: fees are not network-enforced, so it's still possible to send these small transactions without the fee -- you just have to generate the blocks that contain them yourself (after modifying Bitcoin).*
*0.01 BTC fee per kilobyte of transaction, but:*
>*If the blocksize (size of all transactions currently waiting to be included in a block) is less than 27 kB, transactions are free.*
>*If the blocksize is more than 250 kB, transactions get increasingly more expensive as the blocksize approaches the limit of 500 kB. Sending a transaction when the blocksize is 400 kB will cost 5 times the normal amount; sending when it's 499 kB will cost 500x, etc.*
>*Transactions within each fee tier are prioritized based on several factors. Most importantly, a transaction has more priority if the coins it is using have a lot of confirmations. Someone spamming the network will almost certainly be re-using the same coins, which will lower the priority of their transactions. Priority is also increased for transactions with more BTC, and reduced for transactions with more data.*
>*If the blocksize is over 4kB, free transactions in the above rules are only allowed if the transaction's priority is above a certain level.* | Bitcoin |
Question: All I can find about what you're doing when mining for bitcoin is "solving cryptographic problems" - what does this even mean? | Forgive me if I'm overlooking something really obvious - but I've been seeing buzz about bitcoin and bitcoin "mining" using GPU power, so I'm thinking to myself "Okay, what is this GPU power being used for? Something like folding@home?"
Googling around and reading, all I can find is that the GPUs are contributing to "finding a solution to a cryptographic problem"...
What problem(s) are being solved, exactly? It seems a bit weird and nebulous to just say you're solving cryptographic problems. Is the end result decrypting some encrypted data? What is that data?
Obviously this is a little out there - but for all I know, the bitcoin mining is ultimately helping someone decrypt some massive data store (stolen accounts, who knows what?) ... I'm guessing it's not that, but there's so little detail on *what cryptographic problem* you're looking for the solution to that it's a little strange to me... | What's happening (and I forget the **absolute** specifics) is that your machine is trying to hash some data using a function. There's a salt that your PC can change. But the rules of the game are that you have to try and get a hash that is literally numerically LOWER than some defined value. If you do it, you shout it out to the rest of the network, you "show your working" of sorts to us and then you get to pocket the mined bitcoins, whilst also signing any transactions since the last block, and making sure that those transactions are legit.
The reason for the masses of computer power are less "free money" from the protocol's point of view, and more "securing the network". If the bad guys get too much of a say in what's "valid" and what isn't then they could cause mischief, so mass distributing the network like this stops those attacks since someone would need about 4 supercomputers to do anything! | Bitcoin |
The GLBSE and Decentralization | null | >a large segment of the population that has nothing but time on their hands
are not likely to be astute decision makers. | Bitcoin |
Free bitcoins - Legit | null | My only question is where can I download a Cpu Miner? | Bitcoin |
Current discovery rate = 9.38 blocks per hour - Next Difficulty Increase? | Current Discovery Rate is 9.38 blocks per hour. Total Hash rate is up to almost 1.8 TeraHash/s. That is up over 100% from 2 weeks ago. What is the next difficulty increase expected to be if the discovery rate continues at 9.38 bph? | ~225444.49898698
http://blockexplorer.com/q | Bitcoin |
Could legal action be taken against a bitcoin-based scam? | Just wondering, since it worries me slightly. Suppose a mining pool operator were to suddenly keep all of the mined blocks for himself, for example. Could anything be done in a situation like this? | I suppose if you found the person you could club them over the head with a big stick.
Wouldn't be very nice though. | Bitcoin |
Does anyone have any links or walk-throughs to help someone get started mining in Fedora/Redhat? | I'd like to get my GPU's contributing to the reddit pool but they are all running on linux boxen. Has anyone gotten this set up and could point me in the right direction?
Cheers :D | ubuntu seems to be the miner's choice of linux os for mining. | Bitcoin |
MtGoxBot — tweets the MtGox ticker every few minutes | null | I threw this together because it's something I wanted.
Possibly other people will find it useful? | Bitcoin |
If I bought a Z68 chipset with 4x Radeon 6990's, how long would it take to pay for itself? | So I'm extremely familiar with Linux, have time off until the fall, and looking for ways to make money. I recently stumbled upon bitcoin and am rather curious. Mostly because once I get a job again I was looking to build a quad crossfire setup anyway. I told myself I would at least wait for the Z68 chipset which just came out. There are motherboards with 4 PCI Express slots which got me thinking. With 8 cores of Radeon GPU's....how long would it take me to recoup the cost? | >With 8 cores of Radeon GPU's....how long would it take me to recoup the cost?
In order to calculate this you need 2 things:
* Your estimation of the size of the network in the coming months
* Your estimation of the value of bitcoin in the coming months
I don't think anyone can answer that, but you can fiddle with http://www.alloscomp.com/bitcoin/calculator.php to get a feel for the numbers. But I don't know how many mhash those gpu's would get. | Bitcoin |
Solo Mining? Use this to calculate how long it takes you to generate a block of 50 BTC! | null | current difficulty is 157426.
Estimated difficulty is 227315 in 579 blocks. Using current computing power, the change will go in effect in 59 hours at 6:20 AM GMT 5/19... but the computing power keeps rising, so expect it to occur in less than two days. | Bitcoin |
How can I join MtRed? | I created an account on the site. But how do I have to configure my client?
I'm running the headless bitcoind on my linux homeserver 24/7 | that's what I thought, the question is: what and where exactly? | Bitcoin |
What prevents end to end attacks? | From reading this it seems like bitcoin is secure within it's own world. However, if a transaction history is stored; wouldn't an hostile entity setting up a major currency exchange obliterate all anonymity? | No, because there's nothing stopping me from transferring all my bought bitcoins to a new account. How would the currency exchange know who owned the second account? | Bitcoin |
Is there a Forbes-like list for people holding the most bitcoins? | It would be interesting to see who has bought into this system the most. | Yeah, there is such a list. It's in the transaction log that all nodes keep a record of. | Bitcoin |
Best software for mining on Mac OSX? | I have a Mac Pro with 4 dual-core Xeon processors and a Radeon 4870 running OS X. I'd like to keep it busy mining using both the Xeon processors and the 4870 GPU. I understand that using the CPUs to mine is inefficient, I just think it's cool and want to play with it for a while.
What's my best bet for mining software (and pool?) to get the most bitcoins out of this setup while running OSX? | The standard CPU-mining code compiles just fine on OS X with a little modification. If you install the necessary MacPorts/whatever, e.g. py-opencl, you can also run the Python GPU mining code that's out there. OS X has OpenCL built-in, so it works just fine. My MacBook Pro has an nvidia chipset in it, though, so the GPU speed is about the same as the CPU speed (~2Mhashes/sec) which is basically infinitesimal compared to what you can get with an ATI-based mining rig. You might get much better mileage with your setup.
Nobody seems to be providing binaries and frontends for OS X, though, so you pretty much have to be comfortable messing around compiling things in terminal.
Edit: somehow I was totally ignorant of DiabloMiner. I guess you can just use that. | Bitcoin |
What happens when most of the bitcoins are generated? | How can new users obtain them? Or is it to be a closed market? | It is to be a closed market. When 21 million bitcoins are in circulation, mining effectively ends. | Bitcoin |
[meta] this shit is about to go parabolic | null | I also found out about it last night and spent 3 hours and $500 on it. | Bitcoin |
Someone will probably stab me in the gizzard for asking this question but... | Who here is going to pay taxes on their BTC transactions? Imagine I perform some service and am payed in BTC then I use that BTC to purchase a product. Is this income? Am I good as long as I never convert it to USD? Please throw me any and all thoughts on BTC and taxes because my mind is running wild with the possibilities. :>) | Ahh Fair Market Value. Gotcha. I understand now. | Bitcoin |
Dumb question, but how do i actually buy bitcoins? | I'm looking to buy some for purely speculative purposes, whats the best/easiest way to do this? | mtgox.com | Bitcoin |
Would it be possible to apply power for generation of coins to actual problems? | I understand kind of generally how the coins are generated. It is my understanding that the problem being solved to obtain the coin is not particularly useful to the outside world, but rather a system designed to prevent the easy creation of coins.
My question is if it would be possible to come up with problems that are actually useful to society; maybe something similar to Foldit, where computing power can actually be used to accomplish something while generating the coins? | These mining operations give security to the bitcoin system. They are absolutely important. | Bitcoin |
Geekcoin - A site to buy tech toys with your hard-earned BTC. | Well, almost. The site is nearly finished, but I need product ideas. Preferably small, low-cost items to start out with, e.g. USB keys and such.
In case you were wondering, I know the product prices are in USD, but when you check out it gets the current exchange rate and let's you pay with Bitcoins and only Bitcoins via MyBitcoin.com. I feel this is best for now while the value of Bitcoins fluctuates so rapidly. Please tell me what you think, and if you have any product ideas please feel free to share!
[Geekcoin](http://www.geekcoin.com/) | Wow! That is *the* best price I've ever seen for Meloncat! I'll take 10! | Bitcoin |
Is there an advantage to using MtRed rather than a larger pool? | I'm currently on mining.bitcoin.cz, pulling about 160MH/s and wondering if there's an advantage to using MtRed instead? My intuition makes me feel like I'd do roughly the same BTC/day... | your payout per day will have much more variation with small pools. | Bitcoin |
Spike in the value of BTC | Is there a reason that the value of the BTC has risen ~700% with respect to the USD? | Sorry if this is a dumb question but I was looking at the historical value of the BTC with repect to the USD at Mt. Gox and noticed the huge spike in the exchange rate in the past month or so. | Bitcoin |
Questions about BitCoins | Two Questions.
1) It is apparently possible to 'lose' your bit-coins. If someone had 1000 btc, and lost the file, or the HD was corrupted, smashed, etc.
This is the same as 'burning' money
What happens then? They are lost forever? Never to be made again.
If this does take off, isn't this going to be a major problem because of the 21M cap limit?
2) I've noticed a 'fee' for some transactions. Who gets this fee?
Everyone is a server. (Some larger than others). How is it determined who gets the fee?
Thanks, | For 2, the fee goes to whomever calculates the block which first confirms the transaction. It's meant to encourage people to generate blocks even if they have little hope of mining a whole 50 coins.
1 is one of my big questions, so I hope you get a good answer. | Bitcoin |
The International Air Guitar Insurance Company has a special offer just for you! | null | ... | Bitcoin |
Is it even worth mining without a dedicated or semi-dedicated setup? | I saw a thread on a private forum I go to explaining bitcoins and bitcoin mining. Since I have a budget gaming PC I thought I would try it, but after joining deepbit it doesn't seem to be worth it.
All I have is a 1gb 4860 generating about 62Mhash/s. It runs at 75°C, which makes me somewhat uncomfortable. I left it running all night anyway and generated only 0.10 bitcoins after 7 hours sleeping. It slows down my computer too much to leave running all day.
And here I was thinking I could feasibly make small amounts of money while I slept. Would this quickly kill my GPU? Will it raise my electricity bill too much? I'm not all that knowledgeable in what amounts of heat will damage my hardware, so please go easy. | No, actually, as you say it is not worth it just generating the coins on your or my own type of rig.
There should be a guide on the right side of this reddit explaining to people they need a good rig and the electricity used vs value of monetized BTC. | Bitcoin |
It is so sad that my life right now is very similar to this cartoon. | null | yes, very sad... now come here big boy. :P 200BTC an for an hour... | Bitcoin |
bitcoin bank for short selling? | What's to stop someone from setting up a bitcoin bank that pays out interest for deposits and charges higher interest to borrow bitcoins to short sell on the market?
Is there a way to shortsell bitcoins?
Wouldn't this concept go against the fundamental reason for bitcoins? | >Also, if you know these spikes are temporary why would you buy an option betting the price would stay high when you known damn well it will drop just like it did every other time BTC was on reddit or slashdot or in the news.
Well, obviously not everyone thinks that the price is going down soon. Or else a lot of people would be selling right now. | Bitcoin |
How do transactions become part of a block? Can bitcoin really scale to handle a non-tiny part of the economy? Where can read more about the protocol? | null | I've wondered about that myself. Bitcoin data is already taking up about 300 MB for me; with the expanding economy, that volume is only going to increase exponentially, in my understanding.
Maybe the protocol can be updated to include some kind of storage distribution scheme that allows for multiple redundancy but doesn't require every user to store the whole data set. | Bitcoin |
Stealing Bitcoins | null | For those interested in pursuing the Bitcoin economy, keep in mind that there are non-Bitcoin security flaws (such as the one demonstrated in this video) that can separate one from the contents of one's wallet. | Bitcoin |
Planning on mining in a Pool with a ~830 Mhash/s rig... | So I've been mining with deepbit with my basic computer and pulling around 28-32 Mhash/s, but I plan on getting a rig to mine with.
What I'm wondering, is if I mine with a pool (not necessarily deepbit), will I see more money overall? I'm going to be trading in my "gains" on MtGox probably nightly, and I've run comparisons using deepbit's calculator for PPS, and the overall calculator for probability on blocks, and found that I might be getting a bit more cash if I self-mine, but it's a lot more reliable to mine in a pool.
What should I do?
EDIT: The rig will actually be closer to 700 Mhash/s. | The more people that mine, the less chance of an individual not in a pool catching a block. Don't just consider today, consider the future state. | Bitcoin |
Are you running Bitcoin? Who near you is? | null | Apparently nobody in my little corner of the world runs BitCoin including me. | Bitcoin |
If you don't like dying of pneumonia then pay your taxes. | null | I really don't get this you-can't-tax-bitcoins argument. Here in [generic European country] employers are required to deduct income tax from my pay check and businesses I buy goods and services from are required to add sales tax to their prices. Changing the currency doesn't invalidate these laws. Sure, they can't tax bitcoins spent on the black market, but again, it's the same for all currencies. Enlighten me. | Bitcoin |
Completely New To Bitcoin | I am completely new to bitcoin and I need some help to get off on the right start. I have a [Radeon 5870](http://www.newegg.com/Product/Product.aspx?Item=N82E16814150490) and an [AMD Phenom x6 1090T](http://www.newegg.com/Product/Product.aspx?Item=N82E16819103849) in my system.
I signed up at [slush's pool](http://mining.bitcoin.cz/) and I am using [GUI Miner](http://forum.bitcoin.org/index.php?topic=3878.0)
With all this, I am only getting 3.6Mhash. Am I doing everything right? | Nope.
Don't bother hashing on your CPU, it is orders of magnitude slower than your video card. Make sure you've got ATI Catalyst installed (forgot what version) and that you selected the option something like "Cypress" in the Device drop down.
You should be getting somewhere around 300-350 Mhash/sec. If you still have issues, take a screenshot of your miner config, or paste the results of the console here. | Bitcoin |
beginner question | how am I supposed to get my first few bitcoins? I'm under eighteen and don't have much to sell, and I'm not gonna go around asking people to give me any. Soooo how do i move about? | Well, if you have a talent or skill that translates to the internet, you could offer that in exchange for payment in bitcoin. For instance, there's a guy named Shazow that does cool drawings and has made a decent amount that way.
If you have a decent video card, especially an ATI 5850 or above, you can contribute to the security of the network and in return get paid bitcoins.
Oh, there's also the [faucet](http://freebitcoins.appspot.com), which (when it's not down) will give you 0.02 BTC. [Witcoin](http://witcoin.com/) is like reddit, except you have to pay to post/comment/vote, but you get paid when someone replies or upvotes you.
edit... There's [The Bidding Pond](http://www.biddingpond.com/), an auction site with payments in bitcoin. You can open a free [Fedex account](http://fedex.com/us/oadr/index.html) and get an 8-16% discount on shipping, if you want to sell things that way. | Bitcoin |
How would one go about setting up their own Bitcoin pool? | My family happens to own an office building and I'm building a cluster of bitcoin miners there, yet I would like to set up my own pool to avoid the fees and downtime of other pools out there.
Does anyone know how I would go about doing this? I've messed with bitcoind a little and noticed I get no long polling support or any stats whatsoever to indicate its even working. | https://github.com/jgarzik/pushpool might help | Bitcoin |
How to buy bitcoins in Australia? | Does anyone have a safe low risk method? | You might try over in #bitcoin-otc and see what people can do for you. | Bitcoin |
Bitcoin is like a Lottery? | null | No. Mining Bitcoin is like a lottery, if you choose not to use a pool. | Bitcoin |
The last difficulty increase was 50%, but the next retarget could increase difficulty by as much as a factor of 4. | From the wiki article on [retargeting](https://en.bitcoin.it/wiki/Target):
*A single retarget never changes the target by more than a factor of 4 either way to prevent large changes in difficulty.*
Considering the [rate of network capacity growth](http://bitcoin.sipa.be/speed-lin-ever.png), it will have doubled from ~1.2 TH/s to >2.4 TH/s by the next retarget. Correct me if I'm wrong, but doesn't this mean that we will probably see difficulty increase by at least a factor of 2?
Thoughts?
Edit: Looks like we passed 2.4 TH/s overnight, and I'm guessing we will pass 3 TH/s by tomorrow. | Current estimate is an increase of roughly 66% ([source](http://blockexplorer.com/q)) and while that could increase another 44% before the next retarget at 124991, in 229 blocks, I doubt it will change that significantly. Anything is possible though. | Bitcoin |
Bitcoin criticism from prior e-currency creator | null | Sour grapes perhaps?
I don't know if Bitcoin is viable but the author's arguments against it are pretty weak. The blocks are expensive to create by design - that's what secures the transactions. The coin generation is a side effect - a clever way to gradually seed the money into the system in a completely decentralized way as well as motivate people to throw their processing power into the pool.
Interestingly it looks like one of his counter example (DigiCash) is defunct exactly because it wasn't decentralized. With Bitcoin there isn't a central agency to take out.
I also don't buy the argument against proof-of-work - the paper linked is about stopping spam. That's a completely different application of the concept - the legitimate mail and spam's POW requirements are in conflict. Bitcoin is designed so that the block generation ticks at a steady rate no matter how much processing power is involved. More is better really - it makes it that much less likely a Russian botnet wreaks havoc.
I'll read some of the other references provided later, but to me it seems like the author hasn't quite grokked what's going on here. Yes, the CPU usage seems extremely wasteful and it bugs me to. However that in no way affects the soundness of Bitcoin as an online currency.
We'll see where this crazy thing takes us... | Bitcoin |
New User Questions | Hey, all
I'm running the guiminer off of my laptop, which is a dell studio 17 with win7 ultimate 64bit, and Intel Mobile Core 2 Duo T9550 @ 2.66GHz, and an ATI Mobility Radeon HD 4500/5100 Series (512 MB). Currently I'm getting about 7 Mhash/sec.
Is there any way I can increase this, or am I stuck with it? Is it worthwhile? | That's about what you should be getting, it looks like. Short of overclocking (possibly a terrible idea on a laptop), there's really nothing else you can do to improve the performance. You miiiight try other OpenCL miners, as it appears some are more efficient than others, but I wouldn't expect a miracle. | Bitcoin |
mtred down? Pool size has dropped to zero GH/s | heard reports of other pools being down as well. | DDOS, probably. | Bitcoin |
With increased power demand and heat generated for mining, is anyone else waiting for the first accidental "bust" of a miner by drug cops? | I'm thinking mining my be the best thing to happen to marijuana growers.
You guys are totally going to pollute the police's ability to detect growers based on power consumption and heat produced. | I'm so fucking scared that the cops are going to kick in my door if I keep getting more hardware...with my luck they'd shoot me and confiscate my computers, plant child porn or something else incriminating when they find no drugs, and it's just another day for the DEA. | Bitcoin |
How slow are banks/dwolla? Why? | I've linked my main bank account to my credit union. Fri-Mon.
Then I linked dwolla to my credit union. Fri-Tue.
Then I made a transfer from my bank to my credit union. Tue-???
When that happens I'll transfer from my credit union to dwolla.
Okay. WTF. Why does it take a fucking week+ to link a few accounts and do transfers? I can FedEx a dollar bill anywhere in the world
in less time than it takes for an ELECTRONIC transfer of money. What the fucking hell is wrong with our money system in this first world economy?
PS. Wife overheated and asploded when I initially linked dwolla to the joint bank account. This is why I'm going through the credit union. | I'm furious. It has been something like 5-6 days now since I created my account and it hasn't gone through. | Bitcoin |
I'm a small, indie game company. I'm interested in selling games for bitcoins, but do not know how to automate it... | Can anyone offer advice? To generate access codes for users, I need a name I can attach the registration code string to. I assume BitCoins will not do that. I could generate game downloads manually, but I would much prefer to automate the process.
I've never done a bitcoin transaction, and don't know anyone who even uses bitcoin, so I'm tapped out for experiments. I haven't even managed to generate a single coin yet. :)
Any advice?
| [This](http://ubitio.us/file/upload) probably isn't what you're looking for, but it's a start. | Bitcoin |
What happens when nobody mines anymore? | Right now most people are mining for a reward, but what happens when the reward is not profitable enough anymore? I understand that the rewards will not go away completely because of the transactions fees. (Correct me if I'm wrong)
Will the transactions start taking ages to go through? If so, how would this problem be solved?
I'm still exploring the world of Bitcoin so be gentle if I'm completely wrong about something. Just correct me. | When miners give up, difficulty goes down, and it becomes profitable again. I may be wrong. | Bitcoin |
Is the cryptocurrency Bitcoin a good idea? (Quora) | null | It may well be a really fucking stupid idea; data packets representing imaginary wealth.
It is, however, less stupid than bits of paper representing imaginary debt. | Bitcoin |
We Should Make a Easy-to-Follow Guide for *Complete* Newbs | Before anyone says anything, be aware that [this](http://forum.bitcoin.org/index.php?topic=7269.0) thread is here. A nice guide to Bit Coin is and how to get started.
But beyond that, I think we should make a super-simple guide/FAQ for complete newbs. In the simplest terms possible: What BTC is, how it works, vocabulary, technical jargon. I think this should be aimed to those that really want to contribute, but aren't very tech-savvy.
This is assuming, of course, that a super-simple guide hasn't already been made. | The thread you linked to is more than sufficient. | Bitcoin |
How does a BTC-enabled retailer or service deal with the constantly-changing bitcoin value? | For example, suppose I open up a store that accepts bitcoins. Would I have the bitcoin prices change on the fly depending on their market value, or would I set static bitcoin prices and change them whenever I feel is necessary?
I feel like after some time, the bitcoin value won't be roller-coasting every day, so this won't be an issue, though. Am I correct on this? | I have been thinking about it as well. It's like buying stuff in gold. Why would you? You could just keep the *gold*, the value of which keeps growing, and spend the cash/other currency.
So that I wouldn't steer off topic.
I think the best option would be to keep an eye on a market value of bitcoin and keep changing the prices. Unfortunately I can't see the volatility of it changing in the near future.
Edit: Missed a word :| | Bitcoin |
Is Bitcoin a deflationary currency? Won't it lead people to store their money rather than invest them in productive purposes? | null | Bitcoin is probably a price deflationary currency, its not a monetary deflationary currency. The probably is because price deflation/inflation depends on a series of factors, but in "normal conditions" bitcoin should be price deflationary.
And no, it wont lead to people not using the currency. There has been numerous historic examples of price deflationary currencies (for decades) and it did not happen. Its a myth created to promote and justify inflationary policies. | Bitcoin |
Bitcoin is flawed (crosspost) | I think that bitcoin is a good idea but there is one major flaw. At first when it was small it was easy for anyone to generate coins but now it's unlikely to get money by mining if you use your cpu. This will allow the people that can afford multiple graphics cards team up and make money for no work. Bitcoin would be better if money was distributed more equally across the network. | You should read the [FAQ](https://en.bitcoin.it/wiki/FAQ) first. | Bitcoin |
Mining success stories? | With the rising value of bitcoins and the recent upsurge in popularity, I'm looking at building a mining rig.
So--has anyone here had success, or at least broken even on the hardware for their mining rig? | I bought a watercooled 5970 for $420 used. It paid for itself after it found its 2nd block in about 2 1/2 weeks. That was before the last difficulty increase which was 50%, and the next one will be above 70%. | Bitcoin |
In terms of peertopeerness, privacy, security and usability Bitcoin might actually turn out worse than the present-day real-world legacy banking system. | null | The OP seemed reasonable until the last paragraph. Then he lost a lot of credibility
>>In that regard, it reminds a lot the story of BitTorrent. BitTorrent is technologically complicated, infrastructure-wise inefficient, much less usable than a regular Web download, etc. But it got popular anyway, mostly because of unreasonable greed and paranoia of incumbent oligopolistic players. Eventually, it paved the way to reasonable offers, such as iTunes, Netflix and Hulu. Honestly, I also wish somebody would disrupt VISA/MasterCard a little bit.
| Bitcoin |
Apologies to everyone of the MtRed Miners. Details inside. | As most of you are aware, bitcoind failed sometime around 2am Est. causing all miners to not get work for a period of about 8 hours. Since then to prevent further instances, watchdog has been configured to watch over the pool server and its bitcoin related processes.
I do NOT believe this to be an attack (although it very well could have been; and will be mining through log files all day.)
But in due diligence, I've been focusing on security of the server over the last few days.
I have set up a self signed cert is on https://MtRed.com and am working on getting a valid certificate right now.
As well as Implemented cookie verification, and csfr protection on the web end.
Also we have a reddit /r/mtred and I will soon use that as a news / blog / discussion for mtred.
Thanks, and again truly sorry for the downtime.
| You really couldn't have handled this situation any better-- I'm not a MtRed miner but I've been eying it for a while now and this only makes it look better.
Mistakes occur, and you sir know how to handle them properly | Bitcoin |
Can bitcoin be used to get money out of a country? | Before we start, I am well aware of the potential legal repercussions of such an act and the problems that this could potentially lead to.
However, here is the background (tl;dr for the lazy).
I have a friend who lives in Venezuela (I'm in Europe). The country is slowly but surely going mental. With rising food shortages and massively rising kidnapping + corruption (yes, even the police are in on that) she wishes to leave the country to study in America. She's already gotten a place secured and needs to be there by September.
Only one problem - the government has implemented major currency control and she needs to convert Venezuelan Bolivare (VEB) to USD. She's currently in the process of petitioning the government to allow this but it's unknown how long this process will take. She needs to provide all sorts of legal documents and proof with reasoning, plane tickets etc. and they may even still just say no.
When she told me about this I immediately thought about bitcoin - now, I'm new to all this and it's not something I've been following in detail. How feasible is this? How anonymous can she remain while doing this? How much does the bitcoin market fluctuate and are there any credible exchanges that even deal in Venuzuelan Bolivare?
tl;dr: Need to convert between Venuzuelan Bolivare and USD using bitcoin to escape a rapidly descending hell-hole run by idiots and rife with crime. Is this do-able?
Thanks as always, reddit. | You'll first have to find someone who is willing to buy currency that's only good in a rapidly-descending hellhole.
EDIT: See if you can't convert it into BRL first, they are easily converted to USD. | Bitcoin |
Some clarification on blocks and the chain. | I just downloaded the software and installed it. Running through blocks. I setup to receive 0.02 BTC from the faucet. Faucet says it's been sent, however, I have yet to receive on my client.
Is the client checking all blocks in the chain up to the top (total number of blocks 124,900) then my transaction will be near the top and I'll then see it?
Is this the same as mining? | Mining is the process of creating new blocks. What you're doing is downloading the block chain.
The block chain is the global record of every transaction ever made.
Technically, the transaction is already made. Your "account" (that is to say, whatever address you provided to the faucet) already has the bitcoins, because the record of your transaction has already happened, somewhere. The only thing is, your transaction will have been recorded in one of the newest blocks, and so if you haven't downloaded the block chain yet, then your client *doesn't know* that you got that money. That's what you're really waiting on. Your client is waiting to see the transaction that says "memetarded just got 0.02BTC". But it already happened. Your computer just doesn't know it happened yet.
Hope that helps. The block chain is kind of complicated, esp if you don't have a background in crypto and datastructures. | Bitcoin |
Spending money in Dwolla/Liberty Reserve from sold bitcoins. | If I transfer money from mtgox to liberty reserve/dwolla, how can I spend it at online retailers such as amazon and newegg? | I don't know if online retailers do those sorts of transactions. Personally, I planned to transfer my Dwolla funds to my local bank account. That way I can literally get cash for my Bitcoin if I want. | Bitcoin |
“Will Work for Bitcoin” Coder Says Most People Just Using It as an Investment Vehicle | null | Of course they are now: it's early days, so everyone's an investor. Plus anyone who does want to start selling is going to have to build their software and infrastructure first, as well as wait for a sufficient market size. | Bitcoin |
I have a side job working for a technology radio show. I think I just talked them into paying me 10% in BTC. | I want some bit coins, but I don't have a mining rig (yet), so I figured this would be a good safe way in getting some. It's secondary income for me anyway, so 10% of secondary income isn't something I need to bad anyway.
Also, if you guys know anyone that would be good to interview on our technology radio show, I would love to get a lead. | What show? | Bitcoin |
I am mining bitcoins, and I want to get a few dollars by selling them every week. Is that going to work? | Are there people willing to buy 1 or 2 bitcoins (paying through PayPal)? Or is this really not worth it, seeing how everyone seems to be buying now? | You can sell them at mtgox in small quantities very easily, and transfer to Dwolla if you live in the US. | Bitcoin |
I'm glad to see stores selling items for Bitcoins...but WTF??? | null | oh wow a site that accepts bitcoins that sells things that are actually useful. | Bitcoin |
Headless Miners for the Masses? | I'm looking at these quick price drops as gifts. I think the best way to keep this money train rolling is to get as many people involved as possible.
10% or 15% daily pops are going to be commonplace going forward. What is the best way to spread the word and get more people involved? Right now it seems like mostly technologists are interested, but if we can spread the word to the masses and make it easy for regular people to start mining and hording everybody stands to make a lot of cash.
It seems to me simple, plug-in mining rigs that anybody can just connect to the internet are the way to go. These need to be dead-simple, so that people just need to go to a web page to see what their little mining machines have produced for them. | To sell something like that to "the masses," you have to sell someone on the idea of BTC. That's kind of hard to do do at the moment, especially with the market doing things like it's been doing. Sure there are suckers, but that'll hurt Bitcoin's credibility in the long run. At this point, I think we're better suited to telling friends and helping them get up and running if they're less technically inclined. | Bitcoin |
We need a quality logo. [.5 BTC Award] | I want to see a quality logo on this subreddit that speaks luxury and possibly the revolution Bitcoin will bring. At the minimum, something better than what we have now. At the discretion of me and possible donors, we will award the BTC to the winning logo.
Live long and prosper.
EDIT: Bounty has been raised to 2.5 BTC.
EDIT: Bounty is now 3.5 BTC. (Thanks to thorax and tabsa)
EDIT: Now 4.5 BTC. (PlasticLiving) | Should the logo include Snoo, or no? | Bitcoin |
How to mine in the background with just one graphics card out of 2? | Going away for 11 months, thinking of leaving my PC (with an ATI 5850 in it) to my sister. I'm trying to figure out how to keep mining while I'm gone.
Basically, my sister just wants to play the sims 3 and watch youtube videos. I'm thinking, I'll put another card in my PC (I have a gtx 460 lying around) for gaming. I want the pc to use the gtx 460 for everything that isn't mining, but every time the PC boots, I want it to automatically and invisibly start mining with the 5850. Is this doable? Would it cause any problems for my sister? | you would need to install the system in a virtualbox... so she can do whatever without interrupting your virtualbox session... also install a vnc server to access it anytime you want to check that virtualbox. | Bitcoin |
Can someone help me to get the official Bitcoin client running on Ubuntu 11.04? | Hi guys, before april when Ubuntu 11.04 was released my bitcoin client ran like a charm, but since my upgrade (I did a fresh install) i just can't get it to start. I downloaded the tar.gz with binaries from sourceforge, and I added the PPA (ppa:stretch/bitcoin) and I tried to edit my sorces list so that it said maverick instead of natty, but nothing seems to work. The daemon, bitcoind, works like a charm though, but it's hassle to run all that things from the cli.
Thanks reddit! | If you're okay with running someone else's compiled binary you can download a version that will work from here:
http://forum.bitcoin.org/index.php?topic=6299.msg102276#msg102276 | Bitcoin |
Difficulty Just Jumped another 50%+ | null | [Relevant](http://bitcoin.sipa.be/). | Bitcoin |
Generate Bitcoins in the browser (Cool toy) | null | Does this work with some sort of pool I'm guessing? | Bitcoin |
Who you gonna believe, them or your lying eyes… | null | Mmmm. Kool Aid. | Bitcoin |
Bitcoin miners, who has $10 million to corner the market? | null | >The D-Wave One is the first commercially available quantum computer and, while its 128-qubit processor can only handle very specific tasks and is easily outperformed by traditional CPUs, it could represent a revolution in the field of supercomputing.
I'm not too educated in quantum computing, but unless it is a beast at parallel computing it might not be enough, especially at that price it might not even pay for itself unless bitcoins becomes the dominant currency.
On a side not, it's great that the ball is starting to roll on quantum computing. Pretty(relative) we'll see AMD and INTEL jumping aboard. | Bitcoin |
I want to buy 1BTC with my debit card. How can I do this? | null | There is no way to pay with a debit card.
I'd have to send cash/check or buy some intermediate currency and switch to that.
Not interested. | Bitcoin |
Would someone be willing to help me put together a good mining rig for ~$1,000? (will tip) | Hey guys, I'm new to the bitcoin game and was wondering if someone could help me put together a decent rig for around $1k. I have dabbled in linux and am somewhat comfortable with the command line, but I need help with regards to hardware and what would be the best with this kind of budget. If you can help me get together a good rig, I'd be happy to paypal you a tip for your time, so PM me your paypal addy :)
Thanks reddit! | Just put this together for you. These are[ NewEgg](http://www.newegg.com/) items. You should be able to get free shipping on an order this size. I would also advise looking around for coupon codes or manufacturers rebates for all of the items I listed here.
This build is essentially identical to [the one here](http://www.bitcoinrigs.com/products/Enthusiast-Rig-2000.html). The only qualitative differences being that my build has two ATI 6970 GPU cards, and a less powerful CPU. CPU doesn't really matter for generating BTC, so that was intentional.
||||
:-|:-:|:-:|:-:
Qty. | Product Description | Savings | Total Price
1 | LITE-ON CD/DVD Burner - Bulk Black SATA Model iHAS124-04 - OEM[ Item #: N82E16827106289](http://www.newegg.com/Product/Product.aspx?Item=N82E16827106289) | | $19.99
1 | COOLER MASTER Centurion 534 RC-534-KKN2-GP Black Aluminum & Mesh bezel / SECC Chassis ATX Mid Tower Computer Case [Item #: N82E16811119106](http://www.newegg.com/Product/Product.aspx?Item=N82E16811119106) | | $54.99
1 | Recertified: Western Digital AV RFHWD3200AVJS 320GB 7200 RPM SATA 3.0Gb/s 3.5" Internal AV Hard Drive -Bare Drive [Item #: N82E16822136811](http://www.newegg.com/Product/Product.aspx?Item=N82E16822136811) | -$18.00 Instant | $39.99
1 | ASRock 870 EXTREME3 AM3 AMD 870 SATA 6Gb/s USB 3.0 ATX AMD Motherboard [Item #: N82E16813157198](http://www.newegg.com/Product/Product.aspx?Item=N82E16813157198) | -$20.00 Instant | | $109.99
2 | MSI R6970-2PM2D2GD5 Radeon HD 6970 2GB 256-bit GDDR5 PCI Express 2.1 x16 HDCP Ready CrossFireX Support Video Card with Eyefinity [Item #: N82E16814127554](http://www.newegg.com/Product/Product.aspx?Item=N82E16814127554) | $25.00 Mail-in Rebate (each) | $679.98 ($339.99 each)
1 | RAIDMAX HYBRID 2 RX-730SS 730W ATX12V V2.2/ EPS12V SLI Ready CrossFire Ready Modular Modular LED Power Supply [Item #: N82E16817152036](http://www.newegg.com/Product/Product.aspx?Item=N82E16817152036) | -$20.00 Instant | $79.99
1 | MASSCOOL G751 Shin-Etsu Thermal Interface Material [Item #: N82E16835150080](http://www.newegg.com/Product/Product.aspx?Item=N82E16835150080) | | $4.99
1 | G.SKILL NS 2GB 240-Pin DDR3 SDRAM DDR3 1333 (PC3 10666) Desktop Memory Model F3-10666CL9S-2GBNS [Item #: N82E16820231395](http://www.newegg.com/Product/Product.aspx?Item=N82E16820231395) | | $19.99
1 | AMD Sempron 140 Sargas 2.7GHz Socket AM3 45W Single-Core Processor SDX140HBGQBOX [Item #: N82E16819103698](http://www.newegg.com/Product/Product.aspx?Item=N82E16819103698) | | $38.99
1 | COOLER MASTER DK9-7E52A-0L-GP CPU Cooler [Item #: N82E16835103087](http://www.newegg.com/Product/Product.aspx?Item=N82E16835103087) | | $11.99
| | | Subtotal: $1,002.89
And the kicker: The real total is $952.89 after those [mail in rebates.](http://images10.newegg.com/uploadfilesfornewegg/rebate/SH/MSI15mirsMay1May3111sg33.pdf)
I suggest installing [Ubuntu 11.04](http://www.ubuntu.com/download/ubuntu/download) and using [Pheonix](https://en.bitcoin.it/wiki/Phoenix_miner) to mine.
You should be able to mine at [a rate of 744MH/s](https://en.bitcoin.it/wiki/Mining_hardware_comparison#AMD) with this rig.
Use these settings for Pheonix:
clock 900/1375, VECTORS BFI_INT AGGRESSION=11 WORKSIZE=128, fan 45% (auto) / temp 90C
Any questions, just ask!
My bitcoin address:1JtXmCJaN516nVzA38cAtPjAnuoXPWnwWD | Bitcoin |
Is it good or bad | I have read many articles saying that bitcoins are good, bitcoins are bad and just neutral informative articles of how they work.
What is the real answer? I have been going to sites such as [weusecoins.com](http://www.weusecoins.com/) and have been learning about it. So far, I like the idea. Its exactly the same as paper money, but in digital form. People say its can be used for illicit purposes. Well, so can bank notes. Really, what is the problem? I see none. Economists viewpoints are especially welcome. | It is neither good nor bad, your speculation is as valuable as anyone else's.
They have a number of legal and illicit purposes, same as cash does.
Best case scenario, widespread use and hyper deflation making all us early adopters millionaires.
Worst case scenario, bitcoins are hoarded and never circulated, no one accepts them anywhere and they fade into worthless obscurity. | Bitcoin |
$0.01 BTC is 1 like 1 cent. So... what's $0.00000001 BTC called? | Since bitcoins go all the way down to 8 decimal places. Has anyone figured out any standard names for each division step? Milibitcoins? Microbitcoins? Nanobitcoins? It'd be cool if we started coming up with nicknames for these fractions -- like we say dime or nickels.
EDIT 1: Sorry, there's a typo at the topic.. '1 like 1' .. please ignore. | I believe the smallest unit of BTC is called the "Satoshi", named after the currency's creator.
(Although, with a software change, the smallest unit could be changed in the future if needed) | Bitcoin |
CUDA Based Miners | Anyone know of any good CUDA based miners other than the standard RPC CUDA one? I've tried the OPENCL ones on my 560 Ti, and I get around 60 Mh/s versus the 95 Mh/s I get with RPC. But RPC is also out of date and not being updated anymore, so I'm trying to see if there is a better miner out there. | Your best bet is to trade your cuda based card for an OCL card. I am about to trade a GTX 470 + $400 for a 5970. Then you can use poclbm which is being updated regularly. | Bitcoin |
How do I (electronic music producer) sell my music for BTC? | null | http://www.bitcoinmail.com/
Keep in mind that they keep the BTC if they are not redeemed in 15 days. | Bitcoin |
Bitcoin, What's It For | null | it's money. It's for the things money is for. | Bitcoin |
Building the Supporting Infrastructure | Cross-posted at /r/libertarian
I work with a bunch of statists who were down on BitCoin. Some of the reasons were actually that it's not controlled (pro central bank?) and can allow shady things to occur. To that last end, I'm all for transparency, but things that shouldn't be illegal (drugs, trading with others without getting a SSN/EIN/ITIN, revealing government lies ala WikiLeaks) are... until then, we need some measure of anonymity.
I am very intrigued by BitCoin. It admittedly aligns with my interests of freedom, emergent order, crypto, programming, and economics. I do believe that there are some problems with the idea, and it's largely untested at this point. However, whether or not BitCoin itself succeeds, it will likely show that a decentralized currency is *possible*. If it dies, hopefully other geeks will grab the torch.
One big problem to overcome is that of perception. Right now it's a hobby currency whose price is largely driven by speculation rather than purchasing power. Worse, it's a currency that enables all those awful drug dealers and terrorists to hide from the sharp, righteous eyes of Sam The American Eagle.
Whatever our personal feelings about BitCoin, divesting whenever possible from the controlled economy is pro-freedom. I want to rally libertarians behind two important projects. And no, I'm not financially invested in BitCoins... yet.
The first project is to get as many "legit" business into this. Even if you can't, set up a store and sell their wares for BitCoins through it. The list of places you can use BitCoins needs to be far larger. We libertarians are over-represented in technology, but there must be non-tech things that we want. I have a friend who does wedding photography who's going to start accepting BTC, I'm starting up a non-GMO, organic, aeroponic food service along with reselling some miscellaneous organic and craft things that I can get a wholesale.
The Free Staters are building Grafton Gulch, but I live on the seacoast and many FSP members live in or around Keene. To us, Grafton might as well be on Mars. An ability for all freedom lovers anywhere in the world to support one another with free, voluntary exchange would be awesome.
The second project is starting to decentralize exchanges... I say this as someone who is starting a U.S. exchange. But I don't suspect to be able to continue that for more than a year or so before having to move it off shore or discontinue it. Besides the concept of an exchange is overly central and a point of failure.
What we need is a trust layer wrapping BitCoin: BitCoin meets RipplePay. There is also something to be said for a decentralized merchant clearing system for IRL purchases.
Thoughts? | What you really need right now is code to allow people to pay the current USD equivalent in bitcoins for goods and services and converts it back to USD instantly for the company. No sane company will want to hold on to bitcoins for any amount of time right now. Something easy to integrated for smaller companies that would let them accept bitcoins with little risk. | Bitcoin |
Some mainstream press... | null | It's good to see BitCoin getting press, but the article paints a bleak picture. The author asserts that either it will fail to gain critical traction, will be inherently unstable, or that "unsavory" types of people will use it to their own ends (gambling, drugs, smugglers, etc.). It should be noted that the things that the author claims are possible with this one are possible with any currency, even regulated and tracked ones. What the author doesn't say is that unlike other currencies, this one cannot be counterfeited (prove me wrong).
PS: Yeah, I drank the cool-aid. But then again, I'm also an eternal optimist. | Bitcoin |
Hey guys, I work for a company that sells Bump Keys. We will accept bitcoin as payment. Any takers? | null | How about some [proof](http://twitter.com/#!/BumpKey) | Bitcoin |
The Micro Camera: Now Accepting BitCoins! | null | Current Prices: 4 BTC for 480p, 8 BTC for 720p. The 4GB Memory card is 1 BTC extra, and the velcro / card reader are free. BitCoin Address will be given with payment instructions. | Bitcoin |
I hope all you Alpaca socks-wearing bastards are happy now! [FTFY] | null | I lol'd! | Bitcoin |
Can virtual goods be packaged into bitcoins, or do we need a new protocol for that? | If bitcoins are gaining in value, could things like music or video game art assets appreciate too? For instance, I would like to be able to buy an original Thor Hammer from my favorite 3D artist, and I would like to be able to prove that mine is *the* original in case I sell it. If others copy it, I want the history of its ownership to be maintained forever.
Would we need a new network of ArtCoins to do this? Or would we just clone something like the GLBSE and trade art instead of assets? Might this be a boon for the games industry?
**edit** Don't know how this would work with games, but I could see an author releasing say 100 or a 1000 unique copies, which are stamped as "first prints". These could be transferred as "second prints" by the initial buyers at a reduced price, while they keep the originals. Subsequent prints are transferred ad infinitum, so I could buy an Nth edition for say 1/Nth the market price of the original. I could get behind that.
| No. It's technologically impossible. | Bitcoin |
BTC Guild - New pool with no fees, funded by donations | null | It's great! I've tried 3 now and I like BTCguild.com the best by far. Owner hangs out on IRC and is very helpful. | Bitcoin |
Gavin, Bitcoin Lead Developer, Speaks On State of Bitcoin | null | There's a lack of content here. | Bitcoin |
Idea to get Bitcoin into the mainstream: get it on The Big Bang Theory | Being somewhat of a tech noob, learning the ins and outs of Bitcoin took me a long while. This morning I smoked way too much weed and was pondering things while showering. My mind eventually drifted to Bitcoin and how tech noobs like myself get confused by the complicated technical stuff. Then my mind drifted to thinking about The Big Bang Theory and how I can fully picture Sheldon rambling on about the technical aspects of Bitcoin while nobody absorbs anything, the same way he talks about the physics he works on. I'm sure that some people would be curious as to what Bitcoin is after hearing about it on the show and google it, etc. This might not blast Bitcoin traffic into the stratosphere but might get it some more attention. Thoughts?
still at a [6] | Fucking. Genius.
Pitch the idea to Wil Wheaton, and see if he can get it to the writers | Bitcoin |
Maybe a stupid question: If I back up the whole bitcoin folder onto a flash drive, is that ok for a bitcoin backup? Thanks in advance | null | You want the wallet.dat file, and you definitely want to encrypt it before putting it anywhere. | Bitcoin |
Hipster BTCat | null | just like the popularity of Bitcoin, this post's popularity has exploded within a very small group in internerds (FTFY) | Bitcoin |
Introducing r/BigShot for Bitcoin Bounties! Yee Haw! | null | http://www.youtube.com/watch?v=YKnchLAMuqc
It's from Cowboy Bebop. I thought I would take on the theme.
I could of done BitShot but it's just a name in the end. | Bitcoin |
UPDATE: We need a quality logo. [9 BTC reward and counting!] | Alright, in this thread place your votes for the candidates below. I prefer you don't cheat with multiple accounts. However, in the end, the shareholders get the final say.
**Candidates thus far (message me if you wish to be listed):**
[rusty_shaklefurd](http://i.imgur.com/CD8OO.png), [...and](http://i.imgur.com/jJRbS.png), [Also...](http://i.imgur.com/t2FYb.png)
[janomark](http://i.imgur.com/7uPEz.png)
[meraxis](http://imgur.com/a/5wM8e)
[StiveGonzales](http://imgur.com/QkgRR)
[Aupajo](http://i.imgur.com/S1DqZ.png)
[ar4s](http://imgur.com/LfIjj)
[SnakeJG](http://imgur.com/Le5vQ)
[therealxis](http://i.imgur.com/zRRh5.jpg),[and...](http://imgur.com/eTnnZ)
[Mithre](http://imgur.com/GXmjY)
[TheOrangeman1993](http://imgur.com/m18iK)
[topheroly](http://i.imgur.com/co7CD.png)
[Walrii](http://imgur.com/pQJKX)
**Shareholders (message me if you are donating):**
thorax: 2 BTC
PlasticLiving: 1 BTC
AtlasLGo: .5 BTC
tabsa: 1 BTC
decepto: 1.5 BTC
Beachy: 2 BTC
tzimicse: 1 BTC | I Vote: meraxis | Bitcoin |
Is 1024 bitcoins called a kilobitcoin? | Personally, I want to try be the first megabitcoinaire. | Bitcoins are decimal, not binary, so it doesn't make sense to use this nomenclature. Not to mention that a kilobyte isn't 1024 bytes; that's a kibibyte! | Bitcoin |
Web Embedded Bitcoin Ticker: an embeddable image with the latest Bitcoin prices | null | Neat. Maybe we could put one in the sidebar? | Bitcoin |
Is there a online list of active BTC mining pools? Is there an API planed to log into any of the smaller ones automatically? | I've tried googling for a list of BTC mining pools. I'm looking for something providing estimated current size (hashing power) of each mining pool.
My reasons are simple: I don't think I'll get any richer by mining, but I'm vitally interested in keeping the network secure, stable and diverse. So I'd like to voluntarily join any of the smaller pools to help. It so happened that I own a High End ATI card on a Linux box and I don't mind keeping my GPU busy while I'm doing my daily work. The reward should be enough to compensate for additional noise and power consumption.
Ideally such usage pattern could be automatic: mining pools shouldn't require any registration (it should be optional), and I'd like to have my miner as a system daemon and automatically join some smaller pool (preferring the ones with smaller fees) signing with just my BTC wallet key and do it's work.
Imagine if every Linux distro (and possibly other OSs) include such functionality installed by default. User just goes to Control Center / Control Panel, checks some option and provides his walet number for rewards. This could be really beneficent and wildly used if don't right (not require any additional work from the end user). | If only reddit had a small pool in the sidebar that needed miners. | Bitcoin |
Mining screensaver (sort of) | So, I mentioned in an earlier thread that I was running my bitcoin miner as a screensaver, and a couple of people asked how I was doing that and if they could do it, too. Unfortunately, I had actually created my own custom screensaver program to do it. Fortunately, I decided to clean it up a bit and present it here for you guys!
It's not actually a bitcoin screensaver, though. It's actually a general-purpose command-line screensaver. It runs a list of commands or .bat files (one at a time), so in order to use it for bitcoin mining, you'll need to know how to start your miner from the command prompt with whatever options you need. I use Windows 7 and poclbm and it works great. I can't guarantee it will work for any setup but mine.
Here's a link to the screensaver: http://dl.dropbox.com/u/29782458/CommandSaver.scr
I'm releasing it for free; you can distribute it as much as you want. As I said, it wasn't originally intended for release, so it may still have a few bugs or quirks in it. If you find any, or have any questions, I'll try to stick around and respond.
Oh, and if you like it, my bitcoin address is: 18fr1BkoLNHt6znt1v5ByRod6Y9q3sWQ35 | hmm, maye opensource it somewhere | Bitcoin |
Javascript Bitcoin Miner | null | I think this would classify as malware... | Bitcoin |
Bitcoin featured on LifeHacker | null | Floodgates crashing soon. We're gonna be popular. | Bitcoin |
The recent explosion in the value of the BTC [NSFW] | null | Wait, you can buy dildos? | Bitcoin |
Predicting When $21 Million Will Be Reached | Is there any way to know when this will happen? Allegedly the system should slow down the discovery rate of new blocks and will continue to half the reward from 50 down to 25 and on.
But at the rate that BitCoins are being mined it seems like the 15 million other BitCoins could be discovered in a decade or so.
Or will the system really start clamping down and make it so hard that all coins won't be discovered until 2140? | I'm not sure where the source for this graph is, but I saw it on the wikipedia article.
http://upload.wikimedia.org/wikipedia/en/5/54/Total_bitcoins_over_time.png | Bitcoin |