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Cryptocurrency Experience

Anything related to bitcoin, crypto, blockchain

JayKim

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http://www.macobserver.com/tmo/arti...oshi-transactions-clogging-up-bitcoin-wallets

The Mysterious Case of 1 Satoshi Transactions Clogging Up Bitcoin Wallets

Many Bitcoin users have been reporting mysterious 1 satoshi (0.00000001BTC) transactions being sent to their wallets. The transactions are being sent from vanity Bitcoin addresses beginning with "1Enjoy" and "1Sochi," and theories behind the transactions range from it being a new kind of spam, to an attempt to bloat the blockchain, to an effort to attack Bitcoin addresses to people, to it merely being a test.


http://www.reddit.com/r/Bitcoin/comments/1xyrj6/one_of_the_flaws_of_decentralization_is_a_shitty/

This week demonstrated some problems with the decentralized nature of bitcoin. All credit to Andreas and a few others who tried to clarify things but, clearly, it didn't work very well.

Coindesk, one of the most pro-bitcoin websites out there, published a horrifically flawed story about the malleability problem claiming it caused bogus transactions to be accepted into the blockchain.

Is this just too technical for people to get the story straight; or correct?

The problem this week spoofed wallet software. The blockchain remained secure and intact. No double spends occurred. No bad or invalid transactions were processed or accepted.

A problem, a well known problem, spoofed some wallet software into bad accounting. And those programs are quickly being fixed.

Meanwhile a 1,000 incorrect and invalid articles are being posted even by pro-bitcoin sites.

What we have here is a failure to communicate. The same community which has invested billions of dollars in bitcoin (yes that is billions with a 'b') should F*cking hire a PR firm to deal with this FUD in a more concerted way.

I nominate Andreas of course.
 

CryptO

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mintcoin--the-green-bitcoin-alternative_52fece3f288f9_w540.png
 

Rem

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If a meta exchange were to pop up, what sort of things would you want to see? What would make it valuable for you to use?
 

mememan

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If a meta exchange were to pop up, what sort of things would you want to see? What would make it valuable for you to use?

What's this? A trade any alt for any other alt exchange?
 

Rem

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What's this? A trade any alt for any other alt exchange?
Basically it would combine the exchanges so that one could trade between exchanges. Not so much between coins, which you can do within certain exchanges.
 
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rexxkai

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Basically it would combine the exchanges so that one could trade between exchanges. Not so much between coins, which you can do within certain exchanges.
So this is basically what arbitrage traders do.

Would there still be a tx fee to transfer coins between exchanges?

I think the idea is good, but I'm not really sure if its needed?

What is your take on this?
 

mememan

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Basically it would combine the exchanges so that one could trade between exchanges. Not so much between coins, which you can do within certain exchanges.

I don't understand :p You'll have to provide a use example.
 

Rem

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I don't understand :p You'll have to provide a use example.
Sorry my previous wording I now notice is kinda confusing lol. Hypothetically if someone were to do this it would be designed so that one would not have to sell one ALT for BTC in order to buy another ALT. It would combine everything based on current market value so that one can be directly traded out with another... or choose cash. If of course someone were to do this meta exchange thing.
 
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mememan

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Sorry my previous wording I now notice is kinda confusing lol. Hypothetically if someone were to do this it would be designed so that one would not have to sell one ALT for BTC in order to buy another ALT. It would combine everything based on current market value so that one can be directly traded out with another... or choose cash. If of course someone were to do this meta exchange thing.
Oh, so the killer app that will unlock value in all alts? I think this exits for some of the larger alts, but not for the hundreds of smaller ones. The thing is that the spread on some of these even on the same trading pair are wide depending on the exchange.
 

Rem

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Good point. Let's say an alt has to mature to a certain level in order to be considered for the exchange. Also to combat that you would have to call for the value of each alt like every second. Crazy!
 

mememan

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Good point. Let's say an alt has to mature to a certain level in order to be considered for the exchange. Also to combat that you would have to call for the value of each alt like every second. Crazy!
You would want to limit trading pairs. Like for example, CryptoRush has BTC, LTC, POT, DGC, TTC, BEER, PAND, and what not as trading pairs, but if you look, typically the BTC is the only one with any real volume.
 
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Rem

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But let's say not only will it do this... it's an exchange within itself holding it's own value on each coin...

So no calling for values on other exchanges. Make sense?
 

mememan

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But let's say not only will it do this... it's an exchange within itself holding it's own value on each coin...

So no calling for values on other exchanges. Make sense?
So people generate buy/sell orders on the site? I have no idea. I'm on 15+ exchanges now holding coins; maybe I'm not the right person to ask about this.
 

biggeemac

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I would like to talk about this Wolong guy......so I was enjoying a nice ride on UNO last night and he dumped. Not good ! The price went down pretty fast. I nearly lost my a$$, but managed to pull a decent profit. So why are people sticking up for this guy? Is this ethical?
 
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mememan

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I would like to talk about this Wolong guy......so I was enjoying a nice ride on UNO last night and he dumped. Not good ! The price went down pretty fast. I nearly lost my a$$, but managed to pull a decent profit. So why are people sticking up for this guy? Is this ethical?
My UNO's still at 0.32, and I only put 0.05 in :D
 

biggeemac

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Well, its ok if you can get in and grab a little booty and get out, but dont try to figure the top out. I would keep that guy at arms length.....just my two cents.
 

mememan

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Alright, just did a semi-comprehensive look at 92 coin holdings outside of Cryptsy. I tossed 4.65 BTC in, and currently the positions (as measured by the highest buy offer) are worth 3.71, so a loss of 20%. For any position that is worth less that 0.01 BTC, I'm going back and adding another 0.05 BTC into it. That's 16 positions, or about 20% of holdings.
 
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CryptO

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Alright, just did a semi-comprehensive look at 92 coin holdings outside of Cryptsy. I tossed 4.65 BTC in, and currently the positions (as measured by the highest buy offer) are worth 3.71, so a loss of 20%. For any position that is worth less that 0.01 BTC, I'm going back and adding another 0.05 BTC into it. That's 16 positions, or about 20% of holdings.

Did you take profit on GlobalCoin today?
 

PSK

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Alright, just did a semi-comprehensive look at 92 coin holdings outside of Cryptsy. I tossed 4.65 BTC in, and currently the positions (as measured by the highest buy offer) are worth 3.71, so a loss of 20%. For any position that is worth less that 0.01 BTC, I'm going back and adding another 0.05 BTC into it. That's 16 positions, or about 20% of holdings.

I've found diversification is good to hedge against losses on other altcoins, but I only diversify into 5-6 coins max. It gets difficult to keep track of coins and work out which exchanges offer the best rates otherwise.
 
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mememan

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I've found diversification is good to hedge against losses on other altcoins, but I only diversify into 5-6 coins max. It gets difficult to keep track of coins and work out which exchanges offer the best rates otherwise.
I'm holding for 1 year or more. I don't know which crypto is going to the moon, but along the way, the rest should rise enough to take care of any total losses. Otherwise, well, it was a gamble.
 

Scofield

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What do you think of Coinkite? Do you think they are legitimate and will gain traction over time? They are considering adding DOGE or QRK to their services, this could mean a surge in value and price in the near future. The part that gets iffy is that they want to get paid 25BTC first. This is the part that seems scammish due to lack of transparency.
 

ttoke

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I recommend You guys start mining if You haven't done it yet. You can probably get a decent script miner under 3k. I started mining about 10 days ago with my 2,5k miner and I have made about 3 bitcoins so far (not just mining, trading also).

I have a friend who has 15 machines, he made more than 10k during the last 10 days...

I'm buying myself another miner tomorrow. ;)
 

Scofield

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I recommend You guys start mining if You haven't done it yet. You can probably get a decent script miner under 3k. I started mining about 10 days ago with my 2,5k miner and I have made about 3 bitcoins so far (not just mining, trading also).

I have a friend who has 15 machines, he made more than 10k during the last 10 days...

I'm buying myself another miner tomorrow. ;)

Which altcoin are you mining now? I was mining LTC and FTC a long time ago on 7950s. ASICs for BTC didn't pan out for me as there were lots of scams, BFL included, but I got my money out from them via Paypal. How much do you pay for electricity per kWh?
 

ttoke

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Which altcoin are you mining now? I was mining LTC and FTC a long time ago on 7950s. ASICs for BTC didn't pan out for me as there were lots of scams, BFL included, but I got my money out from them via Paypal. How much do you pay for electricity per kWh?
I'm currently mining PANDA, but I think I will soon switch back to MAX. I don't pay anything for electricity - I have utilities included in my office rent (same every month).
 
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CryptO

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I'm currently mining PANDA, but I think I will soon switch back to MAX. I don't pay anything for electricity - I have utilities included in my office rent (same every month).

Been mining MAX the last few days.

Up to 250 something now which is near enough 1 BTC.

How many PANDA have you been getting per day with your 4 x r290s?
 

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