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Re: Why are people drawn to GHash.io, and how can we reverse it?
the biggest incentive (I see) for using CEX.io/Ghash.io is one major thing, a lot of pool owners have said no to...
auto-payouts with splits by percentage
Which makes it tons easier when I have a friend that wants to throw some money down on a miner and have me toss in the rest + host it, then I just have to put in an address and what % he gets, what % I get... and nothing else. No more screwing around with spreadsheets, no more bullshit.
Awhile back I asked several 'group buy leaders' in PM how they did the split %'s on shares in miners, the answer I always got back was 'spreadsheet'. Seriously, a spreadsheet... I was debating on making something to handle the splitting for myself in PHP or some other language, however CEX.io/Ghash.io came along, 0% pool fee, splits everything easily, bam, sold.
Not to mention when people ask me why I use it, I tell them that and... then they start using it for the same reason. Obviously a feature a lot of people overlooked, plus merged mining in IXC, DVC, NMC is also a damn good perk.
EDIT: Yes, I did copy/paste this from my post in the other thread. I would like to add in the fact, Ghash.io continually is updating their interface and services, something not seen much from pool owners these days, not of this speed anyway.
auto-payouts with splits by percentage
Which makes it tons easier when I have a friend that wants to throw some money down on a miner and have me toss in the rest + host it, then I just have to put in an address and what % he gets, what % I get... and nothing else. No more screwing around with spreadsheets, no more bullshit.
Awhile back I asked several 'group buy leaders' in PM how they did the split %'s on shares in miners, the answer I always got back was 'spreadsheet'. Seriously, a spreadsheet... I was debating on making something to handle the splitting for myself in PHP or some other language, however CEX.io/Ghash.io came along, 0% pool fee, splits everything easily, bam, sold.
Not to mention when people ask me why I use it, I tell them that and... then they start using it for the same reason. Obviously a feature a lot of people overlooked, plus merged mining in IXC, DVC, NMC is also a damn good perk.
EDIT: Yes, I did copy/paste this from my post in the other thread. I would like to add in the fact, Ghash.io continually is updating their interface and services, something not seen much from pool owners these days, not of this speed anyway.
What are the cost of these incentives when you are holding a paperweight at some point and all your "payouts" are in the form of private keys that are worth nothing? What if all these great incentives aren't the result of supply and demand, rather artificially propped up in hopes of luring miners in so a 51% can be achieved?
Re: Why are people drawn to GHash.io, and how can we reverse it?
Except that miners have zero incentive to destroy the bitcoin network. Its like cutting off your own head.
Not true miners obviously have incentive to destroy the bitcoin network. This doesn't mean they are doing it intentionally. What I have learned at this point is that if wall street wants to destroy bitcoin one of the ways is creating a slick, easy to use pool with great payouts and lots of incentives. Miners will jump to them for easy "profit" and once the network gets 50%+ it's game over. You think wall street would have a problem dumping billions of dollars they would never see again into destroying bitcoin? They would do it without thinking and the billions lost creating a slick miner friendly ticking time bomb would be like you losing a dime in the couch cushions.
So Wall St owns ghash.io is what you are saying?
That isn't what I said. Merely pointing out that anyone with deep pockets who could profit off the destruction of bitcoin has likely realized an avenue to compromise bitcoin. Create something bright and shiny for the miners, use their ignorance to turn them against the bitcoin network.
Re: Why are people drawn to GHash.io, and how can we reverse it?
Except that miners have zero incentive to destroy the bitcoin network. Its like cutting off your own head.
Not true miners obviously have incentive to destroy the bitcoin network. This doesn't mean they are doing it intentionally. What I have learned at this point is that if wall street wants to destroy bitcoin one of the ways is creating a slick, easy to use pool with great payouts and lots of incentives. Miners will jump to them for easy "profit" and once the network gets 50%+ it's game over. You think wall street would have a problem dumping billions of dollars they would never see again into destroying bitcoin? They would do it without thinking and the billions lost creating a slick miner friendly ticking time bomb would be like you losing a dime in the couch cushions.
I'm not a miner, so I have no idea why anyone would invest their mining power in a central entity that stands to devalue bitcoin. I have seen many posts where people express their concerns over ghash and it's threat to bitcoin. But I haven't seen any posts where the apparent hordes of miners who use ghash explain their logic behind it. As Ghash gets bigger, whether they plan to attack the network or not, many people are going to leave bitcoin due to the threat of centralization that they were trying to flee in the first place. Many people will see Ghash as a classified project being carried out by some agency or they will see ghash as the weak link that can be co-opted by the banking industry to destroy bitcoin. So what is the secret to using ghash? I don't get it.
In it for the long term? If so the best time to buy is the time that your funds become available to spend on your exchange. If you are in it for the short term good luck, your going to need it.
Long term, I only have a little over 1 btc right now. Not looking to buy and resell, looking to buy low and sit..
If you are in long term than it is really trivial. Buy now, tomorrow or next week and you will be good. Good luck!
By the way, if anyone is interested in adding something to the bundle, he can do it via USB instead of connecting the device to the internet which is quite convenient even compared to directly plugging the Pi to the internet.
How about adding a script with coldpi that removes the ethernet interface and the temptation to easily connect the coldpi to the internet?Re: My awesome website for generating truly secure OfflineAddress.com
I know that most random generation uses mouse movements and hardware activity to create entropy. However, I like the idea of being prompted to move my mouse for a period of time as it confirms that the software is doing it properly and not using some poor function to provide randomness. It's one of the reasons I like using truecrypt for data encryption. I am sure most bitcoin clients like multibit, bitcoin-qt, electrum etc...use mouse/hardware activity but since I can't confirm it I roll dice when generating new addresses. It's a pain, but at least I know I am getting true randomness. Anyway, cool site, the only thing I would recommend is maybe placing a textbox displaying the random pool as you move the mouse.
That is not an article it is a spam advertisement for the shitty newsletter at the end of the piece. It is not from this week it from 6 months ago or maybe last year.
You got newsmax equivalent of "this one weird trick".
You got newsmax equivalent of "this one weird trick".
Yeah, after doing some more searching it appears you are right, I didn't watch the video at the end. My mistake.
Interesting article I read yesterday regarding Soros, Buffet and other billionaires dumping stocks in anticipation of the effects of fed pumping. Curious what this means for bitcoin. Thoughts?
http://www.newsmax.com/Outbrain/billionaires-dump-economist-stocks/2012/08/29/id/450265
http://www.newsmax.com/Outbrain/billionaires-dump-economist-stocks/2012/08/29/id/450265
I know you are probably doing this with good intentions, but it seems a lot of people are putting a lot of trust in these kind of products without thinking about the security possibilities.
If I wanted to steal some bitcoin this would be a fantastic way to do it. I could modify the armory source to stash any PKs loaded to an obscure location on the SD card. I could then modify one of the standard linux daemons to wait for an internet connection and then send the contents of this obscure PK file to myself. I know that this is theoretically an offline wallet but I can see many people in a moment of weakness establishing an internet connection just long enough to download and install one of their favorite apps that doesn't come in your bundle.
Again, I doubt this is the case, but people really shouldn't be running software on anything that they haven't personally verified the source/binaries. When setting up an environment verify the OS, the bitcoin client and any other tools that you will need. There isn't any way to do that with this, a whole lot of blind faith in an anonymous entity is required.
If I wanted to steal some bitcoin this would be a fantastic way to do it. I could modify the armory source to stash any PKs loaded to an obscure location on the SD card. I could then modify one of the standard linux daemons to wait for an internet connection and then send the contents of this obscure PK file to myself. I know that this is theoretically an offline wallet but I can see many people in a moment of weakness establishing an internet connection just long enough to download and install one of their favorite apps that doesn't come in your bundle.
Again, I doubt this is the case, but people really shouldn't be running software on anything that they haven't personally verified the source/binaries. When setting up an environment verify the OS, the bitcoin client and any other tools that you will need. There isn't any way to do that with this, a whole lot of blind faith in an anonymous entity is required.
A very important and often overlooked measure in securing your bitcoin is keeping your bitcoin related activity secret. If my bitcoin were being held in an insured vault requiring my identification to move it than this wouldn't be such an issue. You are your own bank, you can hang a sign around your neck and advertise it, I wouldn't advise it.
Even if this method was applicable to the algorithms used by bitcoin it is a much less significant threat then what we already know exists out there. For instance the back doors available to NSA employees built into the Mac and Windows operating systems. Couple that with the fact that it has been revealed that NSA employees, even those without security clearance, have had free reign to use communication spytools for personal use, spying on the spouse suspected of cheating, stalking the love interest etc... Take that knowledge and look at the Mac/Windows downloads vs the linux downloads for bitcoin-qt: http://sourceforge.net/projects/bitcoin/files/Bitcoin/bitcoin-0.8.6/
After seeing the disturbing lack of signature files being used to authenticate client software, take a look at the download stats for bitcoin-qt, I decided to write a bash script that will properly download and validate client software.
btcLiveTools is a simple bash script that makes setting up a Debian Live CD environment for bitcoin use very quick and simple. It carries out the following tasks when installing your preferred bitcoin software:
Currently btcLiveTools provides the option to install the following software:
https://github.com/bitmagi/btcLiveTools
btcLiveTools is a simple bash script that makes setting up a Debian Live CD environment for bitcoin use very quick and simple. It carries out the following tasks when installing your preferred bitcoin software:
- Downloads the installation files from the software author.
- Downloads the installation file signature files or hash files from the author.
- Imports the author's public pgp key from pgp.mit.edu.
- Validates that the downloaded files are genuine using the author's public key. If the validation fails the script fails with an error message.
- The dependencies, if there are any, are downloaded using the default Debian repositories using apt.
- The software installer for the software chosen will be ran.
Currently btcLiveTools provides the option to install the following software:
- MultiBit
- Bitcoin-Qt
- Electrum
- Armory
- Truecrypt Encryption software
https://github.com/bitmagi/btcLiveTools
A couple weeks back I built a simple web app in javascript that I use as a read-only bit coin wallet. After using it for a couple weeks I am fairly satisfied with it and thought I would share it. Maybe someone here will find it useful. You can choose to get current prices from either mtgox or bitstamp, you can display your wallets value in 19 currencies and can display your btc in either ubtc, mbtc or btc. All of the public addresses you enter are stored in your browsers local storage. The wallets value is updated about once every 10 seconds and once every 5 minutes your addresses are checked for incoming/outgoing transactions and it will notify you if it discovers activity. Just to clarify the only data it requires from you are the PUBLIC addresses that you wish to monitor:
https://bitmagi.com
https://bitmagi.com
Yeah - having the addresses on the same page as the Receive (and send) can get a bit cramped.
We are adding a 'Contacts' page in MultiBit HD to improve this.
Nice, sounds great, thanks for the reply We are adding a 'Contacts' page in MultiBit HD to improve this.
What is the secret to validating the download with the signature? I am used to verifying files having a download file say file.tar.gz and then a file.tar.gz.asc and running:
Code:
gpg --verify file.tar.gz.asc
after importing the authors public key. However with bitcoin-qt the signature file SHA256SUMS.asc seems to have signature data for all the different versions of bitcoin-qt. When I import Gavin Andresen's public key and run: Code:
gpg --verify SHA256SUMS.asc
I get "Good signature" no matter what. For instance if I completely delete bitcoin-0.8.6-linux.tar.gz I still get "Good signature" if I create a blank file called bitcoin-0.8.6-linux.tar.gz I still get "Good signature". It's as if it isn't actually verifying against the bitcoin-0.8.6-linux.tar.gz file. What am I doing wrong?Can anyone explain why an uncompressed address and the corresponding compressed address do not show the same activity on blockchain.info? I would expect them to both show the same balance, same activity etc... Does compression depend on the PK? Thats the only explanation I could think of but I would imagine you could generate a compressed address with nothing but the uncompressed address.