Bitcoin Forum

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Hey fabrizziop,

I have seen you around and remember how you got ripped off by quartz92 - %$#$ scammer.  You are a very motivated youngster but what I really like about you is that even at your young age you know how to spell the word "I" (it is capitalized for all of you other youngsters out there - yes I know I am as old as dirt).  This is something that escaped all my nieces and nephews under 20.  They send me shit like this "uncl burt can i borow sum $ asap".

I will borrow the 9 BTC from you at 0.75% per day as a reward for being so well spoken and knowing how to spell the word I.  You can lend it to me for as long as you like and can have it back at any time.  I will give you my personal email and, if you want, I will even give you my cell phone number so you can text me if you need it back in a hurry.

The world needs more youngsters like you!

Burt

BTW this is a one time deal just for fabrizziop because I like his posts.

When he's done, I'd like a go at it. :)

I want to be your friend, oh Wise One.

Wise no, cranky yes.

May I ask if this is going through the giant machine that is pirate's lending program?

You may indeed, but given that nobody can ever say yes to that and retain their privileges on pirate's system, it seems a bit silly to ask.

If it was me, the answer is no (would it end up in Pirate's fund) - deposits at Starfish are separate from my own funds I put there.

Second, I'm too stingy to give that much interest - the project I'm looking to invest in has a 10% payback, not 15%+.

You are loaning me 9 BTC.
I will pay you 0.75% interest for each full day the 9 BTC is lent to me.
The interest will not compound.
To minimize book keeping on my end there will be no partial withdraws allowed.
You can leave it on deposit for as long as you want to but I reserve the right to give you back your principal plus accrued full day’s interest at any time after 30 full days on deposit.
When you want it back (or I give it back to you) I will pay you the entire sum, principal plus accrued interest, in one lump sum.

This makes your minimum interest 9 * 0.0075 * 30 = 2.025 if I decide to give it back to you after 30 days.

At this time I do not plan to give it back to you until you want it back.  The 30 day time period is just an escape clause for me so I am not on the hook for the rest of my life.

Your maximum interest is open ended as long as you keep the money in the account and I do not give it back to you after the first 30 days.

You can deposit the money into my public first bits account http://firstbits.com/1BurtW (http://firstbits.com/1BurtW) = 1BurtWEejbnKeBRsvcydJvsNztB1bXV5iQ

I will repay to 127i7LwMgT5WQTaxmGmRDtfWb9w2zZVpz1

Please quote this post and post the transaction id of your deposit so we can publicly track the starting date and time.

That should do it!

I question the wisdom of using sites like firstbits.com or encouraging people to focus on one's vanity address. We don't know much about who runs the site, first of all, which would allow them to change the addresses, or if their security practices are poor, to do that. A vanity address generator can easily generate a new address with the same short prefix as an existing one (such as BurtW), if you expect people to check the firstbits scheme closely enough to notice if there's a completely unrelated address on there.

I expect it's not actually that dangerous, but given how easy it is for me to generate another address starting in BurtW, I think we run the risk of people starting to assume (for no good reason) that if an address is recognizable, it must belong to the person mentioned in the vanity address.

I guess you are right.  That is why in a contract like this I always include the entire address.  Since I am doing that anyway I can just leave out the firstbits URL all together.  Thanks for the benefit of your doubt!

Notes: 

I am sure you are aware of the fact that if you generate another address that starts with 1BurtW firstbits will not confuse it with mine because mine is in the block chain first.

However your point that fisrtbits themselves might get hacked is a very good one.

There is also the possibility of a mistake in typing in the URL - that can be very bad for example:

http://firstbits.com/1bitcoin is a black hole, BTC never to return
http://firstbits.com/1bitcoins is a valid address owned by deepceleron

Very similar.

Yeah, I saw that firstbits shouldn't confuse them, but my point was more about the psychology of highlighting a human-readable portion of one's address. It implicitly suggests (to me, at least, but I'm probably more paranoid than most people) that people should look out for that highlighted string as an identifying piece of an address, which is pretty unsafe.

I didn't mean to single you out, and you don't even visually highlight the vanity portion of your address (although I have seen people do that in their signatures), but my basic point stays the same about vanity addresses :) Their goal, as far as I can tell, is to put some identifiable information into the address, but as soon as you start talking about even weak forms of identity without talking about securing it, the threat of identity theft appears! Firstbits attempts to address this by proclaiming that whoever had a given address prefix first in the blockchain is in some sense the legitimate owner of the prefix, but I'm very wary of trusting a third party to make such judgments for us. If it becomes established, it could also be subject to prefix squatting.

Anyway, just more rambling from me. I doubt anything bad will happen here, but i just wanted to point out some potential drawbacks :)

We know that he (https://bitcointalk.org/index.php?action=profile;u=381) has been in this community for over a year and a half, with over 4000 posts. That should count for something. Also, Firstbits follows a deterministic algorithm (with the blockchain as input), 1burtw will always map to 1BurtWEejbnKeBRsvcydJvsNztB1bXV5iQ. You can have Firstbits clones if you don't want to trust one particular server to do the computation.

I don't think there's danger in that, as long as we make it clear that you need to use the actual firstbits expansion, not just any address with the same prefix.

Back on topic, got the BTC, time stamp is 2012-01-30 17:52:21.  This thread is done for now!

why not invest in something (in glbse.com) ?

or buy this http://www.youtube.com/watch?v=DR_zDrzhPgE so you can save your BTC :)