Instawallet closes claims process & BTC 24 has tyrouble in ...

Guide to Bitcoins for all the new Bitcoiners.

Hey guys,
Since I have seen an influx of the amount of new Bitcoiners, I have taken it upon myself to write some quick tips on Bitcoins and how to get started. (Since I am quite new to them aswell, you can correct me in the comment.)
To note: on this sub-reddit, there is a bot called; "BitcoinTip Bot". You may want to utilize this feature. Basically if you issue it a command in the comments e.g. +bitcointip matthew_boyd 0.1 btc, this will will give money to matthew_boyd. To learn more about this feature head over to /bitcointip and read the documents at the side. I changed this to the first thing as it creates a wallet for you. Therefore you can add coins to that wallet or you can just continue on reading...
If you would prefer to watch a video guide on Bitcoins here it is; Video Guides
First things first You will need a wallet. Here are some links to wallets that you can get:
Some of the advantages and disadvantages of Offline and Online wallet.
Adv of Online:
Dis of Online:
*If you forget your credentials for Blockchain, you have lost all your bitcoins.(if you don't make a backup)
*If you forget your URL for Instawallet, you have lost all your bitcoins.
Adv of Offline wallets:
Dis of Offline wallets:
Next you will need to think of some ways to earn your Bitcoins.
Some of the options include:
Now for places to spend your bitcoins.
I think that's all you really need to know to get started.
Some other useful links: Other quick start guide.
Thanks - Matt.
submitted by matthew_boyd to Bitcoin [link] [comments]

Mining Dogecoin on S3 [Question to pro miners]

So I was able to find a used ANTMINER S3 speed is 400GHS not over clocked and in good condition for the price of USD$131, I have almost free electricity and option for free electricity as well, so how long do u think it will pay it self up if I put it on free electricity, and will it be a fine idea mining dogecoin with it or switch to multi pool? I never really had SHA256 miners or any kind of miner, used CPU before bitcoin was cool but all this is new to me since this country was in war and had a very long internet blackout which is the reason I lost all my bitcoins that was on MTGOX and instawallet "Both got hacked lost 33BTC".
Any advice like best pools, what profit to expect will be welcome and I will be thankful, I am buying the S3 anyway since I rushed into buying it and only waiting for it to ship now, and I am willing to use it to help in dogecoin community for fun and profit.
submitted by KawaiGurl to dogecoin [link] [comments]

Seeing that there is going to be a new influx of Bitcoiners through Kim Dotcom, here is a guide for beginners. (Repost from my earlier post.)

Hey guys,
Since I have seen an influx of the amount of new Bitcoiners, I have taken it upon myself to write some quick tips on Bitcoins and how to get started. (Since I am quite new to them aswell, you can correct me in the comment.)
To note: on this sub-reddit, there is a bot called; "BitcoinTip Bot". You may want to utilize this feature. Basically if you issue it a command in the comments e.g. +bitcointip matthew_boyd 0.1 btc, this will will give money to matthew_boyd. To learn more about this feature head over to /bitcointip and read the documents at the side. I changed this to the first thing as it creates a wallet for you. Therefore you can add coins to that wallet or you can just continue on reading...
If you would prefer to watch a video guide on Bitcoins here it is; Video Guides
First things first You will need a wallet. Here are some links to wallets that you can get:
Some of the advantages and disadvantages of Offline and Online wallet.
Adv of Online:
Dis of Online:
Adv of Offline wallets:
Dis of Offline wallets:
Next you will need to think of some ways to earn your Bitcoins.
Some of the options include:
Now for places to spend your bitcoins.
I think that's all you really need to know to get started.
Some other useful links: Other quick start guide.
Thanks - Matt.
submitted by matthew_boyd to Bitcoin [link] [comments]

Sorry Phinnaeus Gage, you are banned from using this forum! Trolling

Guess what everybody? I Bruno Kucinskas a.k.a. Phinnaeus Gage, has been banned from BitcoinTalk for trolling.
If bringing awareness to future bitcoiners depicting AMT a.k.a. Advanced Mining Technology a.k.a. Advanced Mining Technologies is considered trolling, so be it, but that was not my intent as I shoved it up Joshua Zipkin's (CEO of AMT) ass for taking millions of dollars from hard working bitcoiners, among which are US War Veterans.
Joshua Zipkin even offered to pay me $1,000 per month to monitor AMT's official thread, thus continuing the ruse, of which I refused to do.
Also, I don't know if there's a connection or not, but davout is a mod over on BitcoinTalk and was the CEO of InstaWallet of which still owes me 1,132 BTC of which he claims is not owned to me in spite of proof otherwise.
To be clear, I was not warned prior to being banned nor know how long the ban is suppose to last.
I'm one of the rare individuals on BitcoinTalk where people know exactly where I live along with posting pics of official documents, i.e. IL DL sans masking the ID number.
I currently have no assess to the forum through any of my know accounts, nor able to view the BitcoinTalk forum anonymously.
This is a sad state of affairs when the one person instrumental in exposing scams in the Bitcoin realm is now unable to even view the forum. Also, I have never scammed one satoshi from ANY bitcoiners, but have lost hundreds of thousands during my tenure.
That said, I formally request access once again to my user account, Phinnaeus Gage, and hope others come to my rescue in trying to accomplish such.
Thank you in advance,
Bruno Kucinskas
submitted by PhinnaeusGage to Bitcoin [link] [comments]

Seeing that there are going to be a lot of new people, here is a guide that I created a while back (x/repost.)

Hey guys,
Since I have seen an influx of the amount of new Bitcoiners, I have taken it upon myself to write some quick tips on Bitcoins and how to get started. (Since I am quite new to them aswell, you can correct me in the comment.)
To note: on this sub-reddit, there is a bot called; "BitcoinTip Bot". You may want to utilize this feature. Basically if you issue it a command in the comments e.g. +bitcointip matthew_boyd 0.1 btc, this will will give money to matthew_boyd. To learn more about this feature head over to /bitcointip and read the documents at the side. I changed this to the first thing as it creates a wallet for you. Therefore you can add coins to that wallet or you can just continue on reading...
If you would prefer to watch a video guide on Bitcoins here it is; Video Guides
First things first You will need a wallet. Here are some links to wallets that you can get:
Some of the advantages and disadvantages of Offline and Online wallet.
Adv of Online:
Dis of Online:
Adv of Offline wallets:
Dis of Offline wallets:
Next you will need to think of some ways to earn your Bitcoins.
Some of the options include:
Now for places to spend your bitcoins.
I think that's all you really need to know to get started.
Some other useful links: Other quick start guide.
Thanks - Matt.
submitted by matthew_boyd to Bitcoin [link] [comments]

Seeing that there are going to be a lot of new people, here is a guide that I created a while back (x/repost.)

Hey guys,
Since I have seen an influx of the amount of new Bitcoiners, I have taken it upon myself to write some quick tips on Bitcoins and how to get started. (Since I am quite new to them aswell, you can correct me in the comment.)
To note: on this sub-reddit, there is a bot called; "BitcoinTip Bot". You may want to utilize this feature. Basically if you issue it a command in the comments e.g. +bitcointip matthew_boyd 0.1 btc, this will will give money to matthew_boyd. To learn more about this feature head over to /bitcointip and read the documents at the side. I changed this to the first thing as it creates a wallet for you. Therefore you can add coins to that wallet or you can just continue on reading...
If you would prefer to watch a video guide on Bitcoins here it is; Video Guides
First things first You will need a wallet. Here are some links to wallets that you can get:
Some of the advantages and disadvantages of Offline and Online wallet.
Adv of Online:
Dis of Online:
Adv of Offline wallets:
Dis of Offline wallets:
Next you will need to think of some ways to earn your Bitcoins.
Some of the options include:
Now for places to spend your bitcoins.
I think that's all you really need to know to get started.
Some other useful links: Other quick start guide.
Thanks - Matt.
All tips are welcome through the Bitcointip Bot or to my address; 169iA76RmnatFXmEthT6AEehxMQ9X1ro3L!
submitted by matthew_boyd to Bitcoin [link] [comments]

Let's compile a list of our favorite Bitcoin utilities/websites.

I learn of new sites that do cool things with Bitcoins everyday.
ClearCoin - Bitcoin escrow
MtGox Live - Real-time Bitcoin trades
BitcoinPrices - Simple price lookup (down)
InstaWallet - Instant Bitcoin eWallet
Those are a few of mine that I found. Post yours!
submitted by thevirtuesofxen to Bitcoin [link] [comments]

GPU-friendly mining. 1m BTC market cap. 84m coins. 2.5 minute blocks. A Bitcoiner's report on Litecoin.

Litecoin, a Bitcoin-like Internet currency has seen its network gain significant hashing power in recent weeks, but the currency's long-term prospects remain unclear. This post aims to provide more information about the Litecoin network and currency.
In early to mid 2013, Bitcoin mining is likely to become largely unprofitable for GPU-miners due to the rise of efficient Bitcoin mining ASICs. It is expected that many GPUs will be removed from securing the Bitcoin network and will be redeployed for other purposes. Besides Bitcoin mining, there are three such uses for these GPUs: 1) gaming, 2) password recovery and security testing and 3) non-Bitcoin cryptocurrency mining. Since Litecoin is the cryptocurrency with the next greatest hashing power and is most efficiently mined with GPUs, understanding the current status of the Litecoin network and economy is desirable for those studying the options. Below, I have gathered information to help inform a decision on whether to commit resources to Litecoin.
Miners
The current hashrate of the network is roughly 3 gigahashes per second (GH/s). Due to Litecoin's scrypt-based mining algorithm, Litecoin hashrates are generally 1000 times slower than when mining Bitcoin on comparable hardware. Therefore, this hash rate is produced by an amount of hardware that would produce 3 terahashes per second (TH/s) on the Bitcoin newtork. The current 15-day window estimate for Bitcoin hashrate is 40 TH/s meaning the Litecoin network is roughly 7% the strength of the Bitcoin network.
Source: http://litecoinpool.org/pools, http://bitcoin.sipa.be/speed-lin-ever.png
History
Litecoin's genesis block was mined on Thursday Oct 13, 2011 at 03:00 GMT. Since then, over 15.5 million litecoins have been mined in the first 310,000 blocks. The network releases 50 litecoins per block which are targeted to be found evey 2.5 minutes on average. The block reward will halve every 840,000 blocks which will cause the network to produce 84 million litecoins in total.
The currency has traded in the 1.22 mBTC to 17.3 mBTC range since its birth. Trading is highly volatile with 40-50% changes occuring on a daily basis. Most trading volume can be found on the BTC-e exchange (https://btc-e.com) in the LTC/BTC market by a margin of 2:1 over the next highest volume of LTC/USD also at BTC-e. Other supporting LTC/BTC exchanges include Vircurex (https://vircurex.com) and BitParking (https://ltcexchange.bitparking.com).
All-time price statistics ------------------------- BTC - high: 17.69 mBTC on 3/12/2013 low: 1.22 mBTC on 8/15/2012 USD - high: $0.75 on 3/7/2013 low: $0.015 on 8/15/2012 
The current exchange rate for Litecoin at BTC-e is 12.3 mBTC or $0.55 for one litecoin.
Source: http://cryptocoincharts.com, http://btccharts.com, http://explorer.litecoin.net
Early-adopter advantage
The ability to acquire currency units cheaply through purchase or mining provided an important incentive to Bitcoin's earlier-adopters. By risking the loss of their time and money they have shared in financial gains proportional to the exchange rate and, by extension, the success of the system. Litecoin has a similar early-adopter incentive with one difference. Its launch into an already-sizeable community meant that a greater number of stakeholders existed from the beginning than were aware of Bitcoin in 2009.
A large proportion of early bitcoins were mined when it was extremely unclear if Bitcoin would last beyond a brief experiment. It is then reasonable to expect that many early users did not keep their wallet files or private keys and that a large proportion of early coins will never be spent. While it is difficult to estimate the magnitude of this effect, it provides a potential source of volatility in the future. In contrast, early Litecoin users, most of which were familiar with Bitcoin, could expect that Litecoin's success would make their coins worth keeping. The %-days-destroyed metric tracks what fraction of the money supply has moved since it was mined and for Litecoin is 60.3% versus Bitcoin's 43.7%.
source: http://explorer.litecoin.net, https://blockchain.info/charts/bitcoin-days-destroyed-cumulative
Diversification
Diversification helps to reduce risk and increase reliability of investments and technological systems respectively. Since Litecoin is the second-most established cryptocurrency and is also blockchain-based it may be used easily to diversify Bitcoin-denominated investments. The unique ease of currency exchange beween this currency pair results from each currency's decentralized management and low transfer fees. While current trading volumes and high volatiltiy limit Litecoin's use for significant and stable diversification, more research into LTC/BTC, LTC/USD, and BTC/USD exchange rate relationships is advised.
From a technical standpoint, Litecoin shares many features and the vast majority of its codebase with Bitcoin. Litecoin therefor provides little additional security benefit to the cryptocurrency ecosphere as bugs found in Bitcoin are likely to apply to Litecoin. Mining infrastructure is probably where Litecoin offers the greatest independence from Bitcoin due to Litecoin's use of the scrypt mining algorithm.
Since Litecoin is very similar in use, Bitcoin-accepting merchants and payment processors can support Litecoin payments with minor modifications to the software they are using though at this time only a small number of businesses accept Litecoin.
Development
The core client Litecoin-qt/litecoind is based on Bitcoin-qt/bitcoind. It is currently at version 0.6.3 and is based on the same Bitcoin software version. It is 8 months behind the current Bitcoin client. The Litecoin codebase is maintained at https://github.com/litecoin-project/litecoin as a fork of the https://github.com/bitcoin/bitcoin project. While the same revision control system is in use, the current development model lacks the formal testing and release verification of bitcoin-qt/bitcoind.
Outside the core client codebase, many of the documents and websites created when Litecoin was launched remain untouched, display incorrect information, or have disappeared completely though a number of new sites and services have appeared in recent weeks.
Service Availability
While Litecoin services such as a block explorer, historical charts, and an Instawallet-like web wallet do exist, there are a number of important services that are not yet available. There is no client-side encrypted web-based wallet comparable to Blockchain.info/wallet or the extensive macroeconomic charts at that same site. Mobile software is also limited to a few mining programs with no mobile wallet or exchange rate monitor apps available. Finally, exchange volume is highly centralized on the BTC-e exchange and there is no payment processor that provides any functionality similar to Bit-Pay or Coinbase.
Conclusion
This report has provided information on the Litecoin peer to peer Internet currency and will likely be obsolete within hours of its release in many of the figures quoted. The reader is encouraged to retrieve updated information from the sources included in the report as they will undoubtedly affect any decision on whether to support Litecoin.
submitted by dsterry to CryptoCurrency [link] [comments]

GPU-friendly mining. 1m BTC market cap. 84m coins. 2.5 minute blocks. A Bitcoiner's report on Litecoin.

Litecoin, a Bitcoin-like Internet currency has seen its network gain significant hashing power in recent weeks, but the currency's long-term prospects remain unclear. This post aims to provide more information about the Litecoin network and currency.
In early to mid 2013, Bitcoin mining is likely to become largely unprofitable for GPU-miners due to the rise of efficient Bitcoin mining ASICs. It is expected that many GPUs will be removed from securing the Bitcoin network and will be redeployed for other purposes. Besides Bitcoin mining, there are three such uses for these GPUs: 1) gaming, 2) password recovery and security testing and 3) non-Bitcoin cryptocurrency mining. Since Litecoin is the cryptocurrency with the next greatest hashing power and is most efficiently mined with GPUs, understanding the current status of the Litecoin network and economy is desirable for those studying the options. Below, I have gathered information to help inform a decision on whether to commit resources to Litecoin.
Miners
The current hashrate of the network is roughly 3 gigahashes per second (GH/s). Due to Litecoin's scrypt-based mining algorithm, Litecoin hashrates are generally 1000 times slower than when mining Bitcoin on comparable hardware. Therefore, this hash rate is produced by an amount of hardware that would produce 3 terahashes per second (TH/s) on the Bitcoin newtork. The current 15-day window estimate for Bitcoin hashrate is 40 TH/s meaning the Litecoin network is roughly 7% the strength of the Bitcoin network.
Source: http://litecoinpool.org/pools, http://bitcoin.sipa.be/speed-lin-ever.png
History
Litecoin's genesis block was mined on Thursday Oct 13, 2011 at 03:00 GMT. Since then, over 15.5 million litecoins have been mined in the first 310,000 blocks. The network releases 50 litecoins per block which are targeted to be found evey 2.5 minutes on average. The block reward will halve every 840,000 blocks which will cause the network to produce 84 million litecoins in total.
The currency has traded in the 1.22 mBTC to 17.3 mBTC range since its birth. Trading is highly volatile with 40-50% changes occuring on a daily basis. Most trading volume can be found on the BTC-e exchange (https://btc-e.com) in the LTC/BTC market by a margin of 2:1 over the next highest volume of LTC/USD also at BTC-e. Other supporting LTC/BTC exchanges include Vircurex (https://vircurex.com) and BitParking (https://ltcexchange.bitparking.com).
All-time price statistics ------------------------- BTC - high: 17.69 mBTC on 3/12/2013 low: 1.22 mBTC on 8/15/2012 USD - high: $0.75 on 3/7/2013 low: $0.015 on 8/15/2012 
The current exchange rate for Litecoin at BTC-e is 12.3 mBTC or $0.55 for one litecoin.
Source: http://cryptocoincharts.com, http://btccharts.com, http://explorer.litecoin.net
Early-adopter advantage
The ability to acquire currency units cheaply through purchase or mining provided an important incentive to Bitcoin's earlier-adopters. By risking the loss of their time and money they have shared in financial gains proportional to the exchange rate and, by extension, the success of the system. Litecoin has a similar early-adopter incentive with one difference. Its launch into an already-sizeable community meant that a greater number of stakeholders existed from the beginning than were aware of Bitcoin in 2009.
A large proportion of early bitcoins were mined when it was extremely unclear if Bitcoin would last beyond a brief experiment. It is then reasonable to expect that many early users did not keep their wallet files or private keys and that a large proportion of early coins will never be spent. While it is difficult to estimate the magnitude of this effect, it provides a potential source of volatility in the future. In contrast, early Litecoin users, most of which were familiar with Bitcoin, could expect that Litecoin's success would make their coins worth keeping. The %-days-destroyed metric tracks what fraction of the money supply has moved since it was mined and for Litecoin is 60.3% versus Bitcoin's 43.7%.
source: http://explorer.litecoin.net, https://blockchain.info/charts/bitcoin-days-destroyed-cumulative
Diversification
Diversification helps to reduce risk and increase reliability of investments and technological systems respectively. Since Litecoin is the second-most established cryptocurrency and is also blockchain-based it may be used easily to diversify Bitcoin-denominated investments. The unique ease of currency exchange beween this currency pair results from each currency's decentralized management and low transfer fees. While current trading volumes and high volatiltiy limit Litecoin's use for significant and stable diversification, more research into LTC/BTC, LTC/USD, and BTC/USD exchange rate relationships is advised.
From a technical standpoint, Litecoin shares many features and the vast majority of its codebase with Bitcoin. Litecoin therefor provides little additional security benefit to the cryptocurrency ecosphere as bugs found in Bitcoin are likely to apply to Litecoin. Mining infrastructure is probably where Litecoin offers the greatest independence from Bitcoin due to Litecoin's use of the scrypt mining algorithm.
Since Litecoin is very similar in use, Bitcoin-accepting merchants and payment processors can support Litecoin payments with minor modifications to the software they are using though at this time only a small number of businesses accept Litecoin.
Development
The core client Litecoin-qt/litecoind is based on Bitcoin-qt/bitcoind. It is currently at version 0.6.3 and is based on the same Bitcoin software version. It is 8 months behind the current Bitcoin client. The Litecoin codebase is maintained at https://github.com/litecoin-project/litecoin as a fork of the https://github.com/bitcoin/bitcoin project. While the same revision control system is in use, the current development model lacks the formal testing and release verification of bitcoin-qt/bitcoind.
Outside the core client codebase, many of the documents and websites created when Litecoin was launched remain untouched, display incorrect information, or have disappeared completely though a number of new sites and services have appeared in recent weeks.
Service Availability
While Litecoin services such as a block explorer, historical charts, and an Instawallet-like web wallet do exist, there are a number of important services that are not yet available. There is no client-side encrypted web-based wallet comparable to Blockchain.info/wallet or the extensive macroeconomic charts at that same site. Mobile software is also limited to a few mining programs with no mobile wallet or exchange rate monitor apps available. Finally, exchange volume is highly centralized on the BTC-e exchange and there is no payment processor that provides any functionality similar to Bit-Pay or Coinbase.
Conclusion
This report has provided information on the Litecoin peer to peer Internet currency and will likely be obsolete within hours of its release in many of the figures quoted. The reader is encouraged to retrieve updated information from the sources included in the report as they will undoubtedly affect any decision on whether to support Litecoin.
submitted by dsterry to litecoin [link] [comments]

Where do the 0.001 BTC go?

I’m quite new to bitcoin. I have bought bitcoins and traded 4-5 times the last two mounts and experienced the dramatic raise in value. As the value of bitcoins raise and rise I feel that we should start using more decimals to calculate the value. Right now 0.001 equals 0.3 USD but obvisely there are currencies where the difference is bigger. fx. Yen (0.001 = 2.88). So there is a couple of things I don’t understand and I hope you can answer. 1. 1 bitcoin is made up of a series of blocks containing prime numbers. each btc is special and have its own special code/number. But how do you split that bitcoin up in smaller pieces? Doesn’t the chain break? 2. When I buy bitcoins for 500 USD the "broker" sends med a note that says that they transferred 16.18829384982 BTC to my wallet. But on moving my btc out, I’m only able to move 16.18 or sometimes 16.17. So where does the rest of the bitcoins go. I understand that I real life we "round up" and that there is no extra money and it should be the same with bitcoin. But is that true? I am thinking that owning a ewallet site like instawallet would be a greater deal if they kept the 0.001 btc. Multiply that with a 1000 a day and you would be rich. 3. I understand that btc is mined/released staidly with a fixed inflate rater the next 40 years. But how is that controlled when the demand for btc is exploding? 4. There is a fixed number of bitcoins to be mined. No more no less. So the currency can’t devaluate and we cant make twice a many to lower the price. So what happens when 0.001 btc costs 100USD. How du you buy something worth 1 usd? Please excuse my bad English. As you properly can figure out it not my native language. And I hope my questions aren’t too stupid!
submitted by eighthourhomie to Bitcoin [link] [comments]

Too Late To Recover My Instawallet?

I mined bitcoins a while back and had secured a decent amount in an instawallet account. Dumb, I know, but I was leaving town for a week and wanted to setup my miner before I left and never switched the bitcoins over to a secure wallet.
I tried to initiate a claim several times on instawallet, but the site was always down, so I kind of forgot about it for awhile.
Is there any way I can contact someone and recover my wallet? I'm not even sure who ran instawallet or who to contact. Is it too late? I have my instawallet url, so unless they were stolen, they should still be in whatever wallet that url was responsible for, is my thinking.
Any suggestions / guidance would be appreciated. Thanks!
submitted by beewayne to Bitcoin [link] [comments]

Beste Bitcoin Mining Software  So erhalten Sie ... Instant Free Bitcoin To Coinbase Wallet (No Minimum Withdraw Limit) Bitcoin Mining Software funktioniert So wird Bitcoin auf ... New Auto Bitcoin Mining Site/instant withdrawal GET FREE BTC with Bitcoin Mining Software - YouTube

Instawallet closes claims process and Bitcoin-24 encounters problems in Poland We have two nuggets of refund news for you today. First up, Instawallet has officially closed its claims process ... Posted in r/CryptoCurrency by u/CryptoJunky • 2 points and 1 comment I had some 2.x coins in instawallet since last march or april. I dont really follow bitcoin news but last night when I wanted to cash out I found... Bitcoin ist die derzeit wohl bekannteste digitale Währung. Außerdem ist der Bitcoin die erste Kryptowährung, bei der Methoden der Verschlüsselung erfolgreich angewandt wurden, um ein sicheres ... – Instawallet.org where you get an unique URL with your Bitcoin Address, no ... Mining. Bitcoin network is decentralized p2p network. Every transaction have to be stored and approved in BTC network, so you may help it to keep going on, by sharing your computer’s power. Transactions are stored in “blocks”, and to create every one of them you have to decrypt it. Because amount of miners ...

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Beste Bitcoin Mining Software So erhalten Sie ...

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