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send them your ID and problem is solved
Exactly.
I only recently set up an account with Mt Gox. I sent scanned copies of my documents one one day and in less than 24 hours I was verified.
After all of the negative stuff I had read about Gox prior to doing this, this quick verification process was a pleasant surprise.
From the Reddit link...
Is this sort of information readily available and if not, easily produced?
Quote
What you can do with this metric is sum it over a month (to remove daily fluctuations) and divide by total transaction volume, and get an "average holding time". Alternately you could make a graph or table by age of coins spent - how many are under 30 days, 30-60 days, etc. That would give you an idea of spending and saving patterns - how many coins are in current circulation vs being held for long periods.
Is this sort of information readily available and if not, easily produced?
https://bitcointalk.org/index.php?topic=320108.msg3426000#msg3426000
'Bitcoin days destroyed' is a good thing that can be used to analyze Bitcoin market trends.
'Bitcoin days destroyed' is a good thing that can be used to analyze Bitcoin market trends.
Thanks - I was wondering these last few days how/if this might be used.
Thanks for the replies guys. I guess I am just thinking that whilst the security of having the wallet located here with me at home (and regularly backed up), it would also be nice to be able to use coins from my mobile device, hence a web-based wallet. But I suppose then using such might simply just require the moving of coins between theme before they are utilised.
What about phone-based wallets? Do such things exist? Are they safe?
What about phone-based wallets? Do such things exist? Are they safe?
Think of the PC based Bitcoin-Qt wallet at home as the money in your safe at home, and the web based wallet as, well, your wallet.
You might be comfortable leaving a few thousand dollars in your safe at home, but might become uncomfortable walking around in a large crowd with a few thousand dollars in your wallet in your back pocket.
Before you head out for the day, you'd remove some cash from your safe and put it in your wallet. If you received a large sum of cash while you were out, you might hold it in your wallet until you got home, but would then immediately move it to the safe.
There's no reason you can't have multiple bitcoin wallets. Perhaps a few paper wallets for significantly large sums that won't be used for weeks or months, Bitcoin-Qt for storage of the bitcoins that you don't need immediately, but want convenient access to, and a smartphone or web-based wallet for amounts that you expect to spend while you're not at home.
Sounds perfectly logical to me. This approach should do me for now I think.
Cheers
I use electrum for local, blockchain.info & inputs.io for small amounts
Have just been looking at electrum - I had heard somewhere a while back about a wallet that didnt need to spend a day downloading the whole blockchain when it was first being set up. I guess electrum was the wallet
I like the idea too of being able to access your electrum wallet from any PC.
Thanks for the replies guys. I guess I am just thinking that whilst the security of having the wallet located here with me at home (and regularly backed up), it would also be nice to be able to use coins from my mobile device, hence a web-based wallet. But I suppose then using such might simply just require the moving of coins between theme before they are utilised.
What about phone-based wallets? Do such things exist? Are they safe?
What about phone-based wallets? Do such things exist? Are they safe?
I currently use the QT wallet here at home, and regularly back it up.
What is best though? A simple wallet like this or a web based one, such as those provided by Blockchain etc? And also, can these web based wallets be backed up?
Thoughts, preferences?
Tnx
What is best though? A simple wallet like this or a web based one, such as those provided by Blockchain etc? And also, can these web based wallets be backed up?
Thoughts, preferences?
Tnx
I really wanted to have a go at mining, even just from a hobby type position, just to contribute.
But it increasingly looks like it is not worth it.
The 300GH/s rig I was thinking of going halves in with a pal seemingly now has a good chance of only producing a small fraction of what it would produce in coins at this very moment.
But it increasingly looks like it is not worth it.
The 300GH/s rig I was thinking of going halves in with a pal seemingly now has a good chance of only producing a small fraction of what it would produce in coins at this very moment.
The main thing that drives the Bitcoin economy is shouting from the rooftops. When there is a new article released and it talks good about coins, the price goes up.
Yes - this is significant and recently we have seen increased interest globally in Bitcoins. Hence, in my opinion, the consolidation of value we are now seeing through the gradual, sure but steady rise in value.
But to get the attention of Liberal media, the community would have to stop supporting greed and start supporting the future of the entire community (More people forming BTC groups that work together to trade and manipulate the markets. More people starting stores that accept Bitcoins and Alt-coin, etc etc).
Yes - this is happening as well - more and more people are now aware of Bitcoin - more and more businesses are incorporating it into their own business models.
I think for the long term, the future is very bright
Thanks for the link, the list is a bit outdated since most rigs are cheaper now.
I had no idea - that just what I came across in the last day or so.
In the meantime...
Found this statement on Reddit:
Quote
The difficulty changes to keep the block production rate steady. Anything quicker than a rate of 6 blocks per hour for the 2016 block period will result in a difficulty increase.
So, does this mean that as difficulty increases with time, we may very well see a point where the rate of blocks found drops to below 6 per hour and thus difficulty will then remain the same or fall?
Is that how it may work?
How much would a 300 GH/s miner cost?
Around $2500.00Am looking for a link to mining rigs and cost etc now (thought I had it bookmarked).
Edit: found it...
http://mining.thegenesisblock.com/
At a difficulty rising by about 30% each time, reckon you'll be looking at 0.008 a day in 6 months. Depressing, but no one knows for certain!
That's a huge drop from the 0.385 quoted by the bot for today's difficulty level.
Phenomenal.
I posted this on IRC earlier but got no reply.
I asked the bot what a 300Gh/s miner would produce:
I then asked:
Any ideas? What did 300Gh/s get you in the past and what will it get you in the near future in the way of mined coins?
I asked the bot what a 300Gh/s miner would produce:
Quote
The expected generation output, at 300000.0 Mhps, given difficulty of 390928787.638, is 0.385932066658 BTC per day and 0.0160805027774 BTC per hour.
I then asked:
Quote
say around 2.6 BTC per week. What did 300 GH/s produce 3 or 6 months ago and are we able to work out or predict what it will produce in 3 or 6 months time?
Any ideas? What did 300Gh/s get you in the past and what will it get you in the near future in the way of mined coins?
This I believe is also some sort of Bitcoin ATM - I think the pic was taken at a recent trade expo in Sydney.
Can anyone shed any light on it?
http://i.imgur.com/DndteLg.jpg
Can anyone shed any light on it?
http://i.imgur.com/DndteLg.jpg
Try to use Bitstamp, BUT NEVER use Mt.Gox (for selling).
Is Mt Gox really that bad? I know there have been issues with withdrawals, but haven't they been due to other banks they deal with?
I have no funds with them myself, btw.
But buying shares is risky, and you can just invest somewhere else (coinlenders, just-dice, and so on).
How so? Can you elaborate on the dangers of buying shares in mining
It is dangerous, to mine the same amount of BTC daily, you must add +30% hashing power every 2 weeks. This is how steady difficulty increases last few months
30% seems a lot. But if the price were to increase steadily as time goes on, surely with one producing less coins, the value of these coins would go up and things would even out.
Or am I missing something?