This Guy Mined Bitcoin With a Computer That Helped NASA ...

Why are we turning our backs on Mt Gox customers?

Is Gox solvent? If not, Gox customers can sell their holdings at prices 50%+ lower than other exchanges in order to possibly improve their chances in a bankruptcy liquidation; but if they are solvent and merely need time to address technical issues, then selling now is a regrettable and costly mistake. Tough decision. Add in a volatile rumor driven market with suspicious volume spikes and a CEO giving lame scapegoating excuses to anyone who will listen. Glad it's not my money. So why has no one in bitcoin leadership asked Gox to demonstrate that they are solvent? BTC reserves are viewable on the public ledger, right? And any auditor can verify if their fiat holdings are sufficient to reopen. Are we trying to avoid another round of bad headlines, coddling an insider, or working behind the scenes to help them raise money? No one knows. And the customers are being left to twist in the wind. Please understand, I'm not accusing btc leadership of betraying the customers. I'm accusing them of not addressing the appearance that they are betraying the customers. In the past week I've seen our passionate and committed community work overtime to address transaction malleability, offer opinions on Gox solvency, and work with Gox to fix their code, but the only people I've heard ask Gox to verify that they have the capital to reopen are those guys with the signs standing out front in the sleet. That sounds condemning - I don't mean it to be. My first post here should really be to say THANK YOU! I was lucky to pick up my bitcoin rookie knowledge as early as I did. I owe that to the brilliant and committed advocates that tirelessly explain bitcoin to the media, the regulators, and the non-techies like me at our local meet ups. Your ability to make this subject accessible is a gift. Thank you. Which is why this slow motion Gox train wreck is so hard to watch. What about the customers? Chicago futures markets have a fully disclosed commitment to stand behind customer funds and it doesn't matter who you are or what board you serve on. Protect the customer. Is that being done here? Not only has Gox failed to address financial stability, but they're profiting from the volatility that they have created! Why is the debate "Should Karpeles be removed from the Foundation"? Of course he should, but for starters at least demand that he waive fees and stop profiting from his trapped customers. Shameful. Gox said all is well and they'll update again Thursday 2/20 but that did nothing to narrow the huge spread between Bitstamp and Gox prices. Ken Shirriff’s blog found an inconsistency with their TX-Mal excuse and Coindesk ran an analysis titled “Why Mt. Gox May Be Headed for Bankruptcy” comparing Gox to gambling sites just prior to going bust. Bitcoin leaders and core developers said the tx mal attack would not endanger funds and that Bitstamp would reopen shortly. They were right. Many are now saying Gox is solvent and the bitcoin faithful believe that here, too, work is being done behind the scenes to fix this mess, and that it is in everyone's best interest to avoid asking the solvency question. I simply don't understand this. You can't start a run - nobody can get their money out! BTC industry is helping with their workaround, right? Why not insist that they demonstrate financial stability before helping fix their crappy code. And if they say no? Then someone from our Foundation should get on the next plane to Japan and stand next to the protesters. Another day of kicking this can down the road means another day filled with rumors of cronyism and calls for tough regulations. Anyway, thanks for hearing me out, and thanks for any insights.
submitted by willb20c to Bitcoin [link] [comments]

Where does the lost bitcoins go? Dish Networks accepts Bitcoin -- Dutch Bitcoin Mania -- Pheeva, Gyft and iOS bitcoins and alts - YouTube Perfectly secure Bitcoin wallet generation Why does the price of bitcoin fluctuate so much ?

Ken Shirriff, an old school Bitcoin miner, is digging deep into how the otherwise un-minable old electronics can be exploited to mine at a rate comparable with modern GPU, CPU, and ASIC mining equipment. Ken Shirriff has successfully converted innumerous old-school computers and gaming systems into mining rigs. He is also a mathematical genius ... Ken Shirriff's blog Xerox Alto restoration, IC reverse engineering, chargers, and whatever . Inside Intel's first product: the 3101 RAM chip held just 64 bits. Intel's first product was not a processor, but a memory chip: the 3101 1 RAM chip, released in April 1969. This chip held just 64 bits of data (equivalent to 8 letters or 16 digits) and had the steep price tag of $99.50. 2 The chip's ... An American computer scientist has managed to mine Bitcoin on a 52-year-old Apollo Guidance Computer (), British tech media outlet IT Pro reports on July 9.. Ken Shirriff, a specialist in reverse engineering, has reportedly worked out a code that enabled him to mine Bitcoin on one of the first integrated circuit-based computers that were used to navigate the first moon landings by the National ... The Bitcoin Mining Rig That Already Mooned. Ken Shirriff is a man with a passion, and that passion lies in the restoration of vintage computer hardware. For his latest project, Shirriff got hold of a guidance computer from the Apollo space mission. Then got it working again; the only working example, according to him. This computer was small enough to install in the actual Apollo craft, in an ... Technically it worked, though as Ken Shirriff concluded, “One round of the algorithm takes 16 minutes, 45 seconds which works out to a hash rate of 0.67 hashes per day.” The Apollo Guidance ...

[index] [47148] [39116] [25685] [18705] [12106] [43389] [50116] [32252] [12364] [46550]

Where does the lost bitcoins go?

To get started just copy this whole page and paste it to edit it. Simply follow the instructions below and in 2 to 3 weeks, you will have as much as $2,000 or more dollars in your Bit Coin account ... by Ken Shirriff. 7:52. Riflessioni su Bitcoin 1/2 by Intervistelibertarie. 12:25. Riflessioni su Bitcoin 2/2 by Intervistelibertarie. 13:05. Bitcoin, inaugurato il primo bancomat in Italia: ecco ... Here are Today's MadBits: Bitcoin Prices are down slightly again, with Coindesk BPI reporting a Last of $565, a High of $576 and a Low of $556. Dogecoin prices are steady at 69 satoshis a coin ... This video is unavailable. Watch Queue Queue. Watch Queue Queue These days Bitcoin is the most well-known digital currency in the world. Join us on a step by step tutorial and start your own Bitcoin treasure. Get in touch with Tito: [email protected] https ...