mempool

1:16 AM

@Murch Yea I tried to figure out just what the KGW algorithm was. It has an inappropriate name and all I really thing it is, is a function that smooths difficulty changes.

Also difficulty changes per block is a nice idea, but it seems like something satoshi purposely didn't do

@SimplePi yea a bunch of us, flag a post if you think anything needs to be reveiwed

Marek

8:11 AM

This is no good - mtgox.com/press_release_20140207.html

Murch

9:28 AM

oh wow. 3 Days down.

I was just wondering why Bitstamp was low

Marek

Or 3 Doors Down :p ?

@Murch good morning.

Murch

I think people are selling, because they expect a price slump where they can buy

good morning

nice avatar ;)

Marek

Thanks, I recently found out that I registered on twitter with my real life picture then after 2 weeks was trying to google my name within images and saw that picture in the first records found, pretty scarry.

Reason why I put some kind of avatar on every social profile ;)

You wiilling to discuss Mt.Gox statement?

I got some thoughts about that.

Murch

@SimplePi I am not a moderator, but by now I do have all privileges except access to the moderator tools.

@Marek Of course.

So, MtGox apparently had trouble doing withdrawals from the "technical side"

This could mean that they sent off Bitcoins to the wrong address, or that some didn't send, although they were marked as sent in their administrative tools or something similarly bad.

I think that many people thought that MtGox was at least competent from the technical side, just challenged due to the missing funds from the seizure in the US

but if it turns out that they also have been sending money off into the nirvana, it might mean the end of MtGox

If too many people want to get out of MtGox, they might run out of money. They owe already more than $38 Million in withdrawals

Marek

Yes they had some obivous issues about the bitcoin windrawals which is pretty scarry when you cannot transfer your bitcoins from an exchange or better trading platform. As exchange is a place for one time trade. I think it was really neccessery for them to stop doing these windrawals as it would cause more mess and panic then it already caused.

Here is my point. They were already acknowledge about what short-time panic it would cause doing this halt for btc windrawals. In the last days MtGox had really shorten theyre windrawal delay coinsight.org/mtgox.html

Murch

9:42 AM

@Marek interesting, that is a bit reassuring

Marek

I would like to be conspiracy theorist but I think they are trying to pay off all the not procceeded transaction so they would get out of the trouble - they are getting a lot of money on this trading volume 32K bitcoins traded for last 24 hours - lets say they got 0.3% from all the transactions - that could be around 85 000 USD

Murch

then they actually might not be out of money

but, price on Bitstamp is at 684, it was 619 earlier in the morning

still going down

Marek

I wouldnt like to be *

And this is what I dont understand. Why the bitstamp follows?

Murch

well, I'd guess people are expecting bitcoin to drop and are getting ready to buy

getting ready to buy means changing to $$

that would push the price down

Marek

I understand when all the exchanges reacts to China news, but this? My first two thoughts were - arent those the FBI seized bitcoins? 2nd thought it might be they would like to dump the price on Gox so they can transfer their bitcoins to bitstamp maybe?

Murch

9:48 AM

@Marek: But neither BTC nor $$ are getting out of MtGox anymore

everything is stuck on MtGox

Marek

Yes, thats so true. But I think this is not the end of MtGox. I think they are trying to clear their name wiith getting rid of late windrawals.

They might 'work hard' as they mentioned in the statement to make this Exchange running properly again.

Murch

MtGox has been losing confidence for months

I don't think this will go by without a mark

Marek

I think there are two possible aftermaths. 1st - They are going to clear out their sheet with all of the windrawal issue. 2nd - they will not, somehow they will fix and regulate windrawals and loose majority of traders.

Murch

1st would be about time

it has been months since they had withdrawal issues

I seriously don't get why anyone would be doing business there anymore after that

but I agree, this is a make-or-break

Marek

Do you know what amazes me? ' Trade with confidence on the world's largest Bitcoin exchange!' This is how they call themselves an 'exchange'. What the heck is that joke or what? An exchange in the means of currency transfer is immediate transfer when you receive the currency you bought and you can do whatever with that. Not that you need to wait 6 weeks to get them to under your control. I'm now a bit upset about all of this as I got majority of my btc there.

Murch

10:03 AM

Sorry to hear that

Luckily I first started on Bitstamp

always got my withdrawals very quickly

Marek

I would transfer the btcs to bitstamp if I could hehe but I didnt really carex of all those MtGox issues as I thought that I will sell on localbitcoins sometime, until hault of bitcoin windrawals, this sounds really scarry, forcing someone not to transfer their btc - problem evolving from that you are not having btcs in your possession.

I would understand the fiat windrawals at all - might be cause by banks, but regulating bitcoin windrawals? wow.

Murch

10:20 AM

I think that a lot of people will try to get their bitcoin out of MtGox right after they reinstate the withdrawal

If one trusted MtGox enough, might be very good money to sell there on monday

:p

Marek

yep.

bitcoin.stackexchange.com/questions/21718/what-is-maxcoin 670 hits ! :D

Murch

:D

Marek

It has many visitors from outside of SE thought.

Murch

Probably

did you start mining Maxcoin yesterday?

Need to fix my linux, it's not booting...

Marek

Nope, trying to find how to do that now.

Murch

10:31 AM

don't want to do any Crypto stuff from Windows

Wow. The Maxcoin subreddit is full of angry posts about them failing to create a fair launch (judging from topics)

Marek

post please

Is it worth it mining?

Murch

imgur.com/u8xDszY

Just have a look at the topics here. reddit.com/r/maxcoinproject

Marek

From the heart - LOL

I wasnt expecting something like this

This made me laugh - 6. Thousands of angry miners reddit.com/r/maxcoinproject/comments/1x7l7x/epic_fail

Over 9 thousand angry miners !

Murch

bah dum. tsss.

Apparently, the difficulty is at 850 already, too. see: max.cryptoexplore.com

Marek

lets join some pool

any suggestions for pools?

Murch

10:42 AM

apparently there is a GPU miner already

Marek

Yes - reddit.com/r/QuarkCoin/comments/1x6gaz/…

This is sad project.

Murch

one guy got 12 of the first 16 blocks

cuz he had GPU from start

Marek

let me guess, the creater is the guy ? :)

Murch

That appears to be a popular theory

Marek

1 BTC = 38 MAX

woah

mcxnow.com/exchange/MAX

Murch

10:48 AM

never ever.

wtf?!

Marek

silly

Murch

that's 100Feathercoins per MXC

Marek

and its also 20 USD for that..

Murch

that is almost equal to Litecoin

Marek

:D and this is also insane..

I havent participated in coin launch isnt it cause of low bids and high offer?

sorry low offer and high bids

Murch

10:51 AM

I think it would be the average of the actual trades that happened

brb

Marek

btw

Gox price is under bitstamp price

Murch

crazy

heh

What a fad.

:D

Marek

Gox is now lowest trading exchange.

Just saw this post on facebook ` Bitcoin is simply too big for Mt Gox to handle..` so true..

Murch

Do you think Bitcoin will crash?

Marek

It depends what do you consider as a crash? I think bitcoin is very strong system..

Murch

11:03 AM

I still have 0.2 BTC on Bitstamp, thinking of spending them and putting in an offer at a lower price. But I know I suck at reading the market, so I will probably be wrong :p

Marek

But when it comes to blocking bitcoin windrawals.. comon..

Murch

crash, as in "drop by 20%"

or more

Marek

Imho this is the buttom. >p

the trading volume is getting lower now

Murch

Bitstamp is going up

args. Whatever.

:p

Marek

merchanting mood :p ?

Murch

11:13 AM

Well, I was just thinking. I bought a few Bitcoins when they were around 100€

I bought some things for Bitcoin when they were around 600€

Now, I'd like to replace the Bitcoins, but I am unsure whether the price will drop or rise

if it drops, it would be stupid to buy now

if it rises I will be biting my ass for not buying

so.

Marek

i recommend not to sell any :P but im not pro

Murch

Well, ultimately, I'd like to see Bitcoin be successful, and I don't see that happening when everyone is not spending them

so, I spent some

Marek

I havent spent any of them yet :(

Murch

But then on the other hand, I don't want to be left holding none, when the Bitcoin price goes way up. ;)

So, "whatever" is just a way of saying, I am frustrated, because I feel that I cannot go right.

So I think I will go play a game of DotA2 instead.

Marek

but you will miss the price going to 300 EUR :p

and then back to 700

Murch

11:17 AM

well, my money wouldn't arrive on Bitstamp in time anyway.

Marek

:D just kidding

Murch

Don't tease me. :p

Marek

ok, happy playing! My friend is suggesting me to try toe dota2 I tried but the one game as it takes given time it makes me fixed :(

but it has nice graphics and idea.

Murch

"I tried but the one game as it takes given time it makes me fixed" <-- don't understand that

Do you mean, it takes a lot of time to get to know it?

@Marek DotA2 has an enormous burden of knowledge, gotta know a lot about items and heroes in order to not be surprised. I agree that it is pretty hard to get started with.

Marek

Yes it is pretty complex, I think one multiplayer online game takes 45 mins?

Murch

11:33 AM

yeah, usually between 35 and 70 minutes, most around 45-50

Marek

11:57 AM

you gotta read this @Murch reddit.com/r/Bitcoin/comments/1x91xq/… its funny and its true

Murch

2:51 PM

@Marek Very good read, thanks. Did you see this: bitcoinfoundation.org/forum/index.php?/topic/…

or rather: reddit.com/r/Bitcoin/comments/1x91xq/…

Marek

Thats what I wanted to sent you hehe "D

instead of that I sent you empty reddit

Murch

well, you sent me the whole thread, and I wanted to point out one particular comment. :)

Oh. Now I get it.

Is it a lot that you have in MtGox?

Marek

I shouldnt be specific but its somewhere between 1 and 10 btc

Murch

:(

Kind of a bad week for members of the Bitcoin Foundation, huh?

Karpeles (CEO of MtGox) is not talking to anyone according to a thread linked in the above reddit discussion, Shrem got arrested...

dcmagnates.com/…

Marek

and according to mtgox statement he should be working hard and thats why he isnt talking :D !

he better work not talk

Murch

3:06 PM

This whole thing is just incredibly crazy.

Marek

sadly, yeah

Murch

Who would ever write an exchange in PHP?

Butterfly Labs is also being sued again.

Marek

Imho it is not problem of coding language, but lack of experiance if it is really so, sorry to disagree..

Butterfly deserves that.

Murch

I don't disagree.

I think it would do the Bitcoin industry a lot of good, if some of the less trustworthy companies got too see sufficient examples that they won't be able to continue like that.

Marek

It is important to gain these experience for the whole community, Iam kind of open minded about what is happening now. Almost every country seems they dont want the bitcoin to be illegal, but now we must show that we can handle all of this. If we get sued for money landering, windrawals stuck or that stuff with butterfly labs, it makes really bad view on bitcoin in public.

Murch

3:13 PM

Back to php: me.veekun.com/blog/2012/04/09/php-a-fractal-of-bad-design

;)

Some bloodletting in this case might actually be very healthy. ;)

Marek

ok I will read that later, time for olympics now, hehe

Murch

"PHP is the lone exception. Virtually every feature in PHP is broken somehow. The language, the framework, the ecosystem, are all just bad. And I can’t even point out any single damning thing, because the damage is so systemic. Every time I try to compile a list of PHP gripes, I get stuck in this depth-first search discovering more and more appalling trivia. (Hence, fractal.)

PHP is an embarrassment, a blight upon my craft. It’s so broken, but so lauded by every empowered amateur who’s yet to learn anything else, as to be maddening. It has paltry few redeeming qualities and I would prefer …

Marek

I have coded in that only few times, no bad experience for me, you might be true that it can be problem of PHP, mtgox should evolve then

Murch

3:28 PM

AFAIK (haven't done much in PHP), it is very inconsistent. Similar functions behave differently. Even though it is object oriented by concept, a lot of the modules aren't. It isn't thread-safe. The weak type system is a common error source. Wouldn't touch it, if I were paid to do so. :P

Good read: happybearsoftware.com/…

Murch

5:01 PM

lol: "PHP can also be seen as the Justin Bieber of programming tools. Both prove conclusively that you don't have to be good to be popular."

Jacob Torba

7:00 PM

I've worked a bunch with PHP before, it's great but it's isn't the best

it's easy for beginners

Jacob Torba

9:38 PM

@Murch you gonna go for mod?

I'd nominate you