Current total network hash from http:// is 11.11 THash/sec.  Your share is 500 MHash/sec.

So your odds should be 11.11 x 1e6 : 500 , every 10 minutes or so.

That is 11,110,000 : 500 or 22,220 : 1 or 0.00453% , every 10 minutes or so.  If there are 6 x 10 minutes in an hour, you should probably strike lucky after 22,220 / 6 / 24 = 154.3 days if the total network hash remains unchanged, and you do not have more than average bad luck?!?

http://www.libertariannews.org/2011/06/21/against-the-gold-standard/

1.  Globalised, decentralised, secure accounting system
2.  Sending encrypted messages publicly VERY securely to anyone you shared your wallet.dat file with (you both have the public and private key) for the value of potentially only 0.00000001 btc each (excluding transaction costs - because no transaction happens over the bitcoin network) - much cheaper than a one time pad - What would be the value of that?!?
3.  Security applications where strong passwords are required - one 0.00000001 btc can be used only once and then the next in a the wallet.dat file for the next login!

and more

4.  ...

If you are hiding your head in the ground hoping that the problem will go away by itself, it definitely won't.  At least you can contain the damage by acting due diligently - if it concerns you.  Even though you can not absolutely quarantine the leaked information from private hands - you can at least endeavor to make it difficult to access, and even illegal to access, by prohibiting its availability on publicly accessible sites, and stake your claim on the information by notifying relevant sites of the infringement - making it illegal for the relevant site to host it.  If you do nothing - you might be considered negligent - if not grossly negligent - for not limiting damages as far as possible.

Rapidshare has due dilligently removed this file's download access and views it as an illegal file - probably due to infringement of privacy.  Only MtGox being the original keeper of the privileged information, would be in a position to demand its removal from public sites.  Please act due dilligently to minimise infringement of privacy  damages.

Accounts.csv file still not removed entirely from public sites:

http://pastebin.com/search?cx=partner-pub-4339714761096906%3A1qhz41g8k4m&cof=FORID%3A10&ie=UTF-8&q=accounts.csv#1124

MtGox please act.

HOW TO: (PUT ALL YOUR BITCOINS IN A OFFLINE WALLET FILE THAT HAS NEVER BEEN ONLINE)

If you use Windows (and you suspect someone might be having a peek inside your computer), try the following:

* Shut down your computer
* Disconnect lan cable, wi-fi, modems, etc. and all other network connectivity
* Switch on your computer and terminate the Bitcoin client
* Rename your wallet.dat file to something like donthack.dat (or any other arbitrary name you choose)
* Restart the Bitcoin client in its offline state
* A new wallet.dat would have been created automatically even though you are offline and not connected to any network
* Create a few receiving addresses in this new wallet.dat file and copy the addresses to a text file named addresses.txt for example
* Close the Bitcoin client in its offline state
* Encrypt your wallet.dat file with a strong password (optional step)
* Copy your (optionally encrypted) wallet.dat file to a removable medium and lock up the removable medium securely as you would have done with traditional paper cash.
* Make as many removable medium backups of your (optionally encrypted) wallet.dat file as you feel comfortable with
* Delete your wallet.dat file from the computer that is still offline
* Rerun Bitcoin client in its offline state to create everyday use spendable wallet - wallet.dat is created automatically again
* Take note of the everyday use spendable wallet's receiving address and copy the address to everyday.txt
* Close the Bitcoin client in its offline state
* Rename your wallet.dat everyday use spendable wallet file on the computer that is still offline to something like spend.dat (or choose any other arbitrary name)
* Run cipher /W:(drive letter) to remove data from available unused disk space (more secure delete - like shredding and not just throwing into the dustbin)
* Rename donthack.dat (or any arbitrary name you chose) file to wallet.dat
* Shut down computer
* Reconnect network connection
* Switch on computer
* Run Bitcoin client again and send bitcoins to addresses in addresses.txt held already in locked-up safekeeping.  Empty the few remaining bitcoins by sending it to addresses in everyday.txt for everyday use spending
* Delete wallet.dat and rename spend.dat (or any other chosen arbitrary name) to wallet.dat

-->  Now the majority of your Bitcoins would be in wallet.dat files that have never been online and should be safely locked up.  Your spendable Bitcoins should also be available for spending with the Bitcoin Client implementation.  To spend safely kept bitcoins - the relevant wallet.dat files should be retrieved from the removable medium where it is locked up - wallet.dat accessed by the Bitcoin Client should be replaced by the stored wallet.dat files - and then you can access the Bitcoins through the Client to be spent.  Just run "bitcoin.exe -rescan" after changing wallet.dat files.


So even if the only copy of your wallet.dat file may be locked up in Fort Knox, you can still send bitcoins to its addresses.

You later re-instate this wallet.dat file at any stage by replacing your wallet.dat file with this wallet.dat file that was kept in safekeeping and running the bitcoin.exe -rescan command.

Remember that with Bitcoin's decentralized nature - you are solely responsible for its safekeeping (just like you are with traditional paper cash).

Important:  Use at own risk and with caution not to overwrite valuable wallet.dat files.  Always make sure that an offline removable medim backup is in place of all wallet.dat files.

It's simple:

let i_n = interest rate on your m (medium of exchange) before impact of inflation (nominal interest rate)

and f = inflation

and x = your tax rate

and m% = percentage of m (medium of exchange) left of your taxed usury investment after 12 months (m - medium of exchange invested) after inflation taken into account

then m% = (100% + ( i_n x ( 100% - x ) ) ) / ( 100% + f ) x 100%

So as an example, substitute :

i_n = 0.7225 %  ( see 12 month interbank interest rate http://www.homefinance.nl/english/international-interest-rates/libor/libor-interest-rates-usd.asp )

say x = 25 % ( on income from usury protection measures against erodation of medium of exchange due to inflation )

take f = 11 % ( SGS Alternate annual consumer inflation based on methodologies in place in 1980, see http://www.shadowstats.com/alternate_data/inflation-charts )

for this example m% (what is left of your medium of exchange after one year when investment protection measures in the form of usury was obtained and taxed to protect against the eroding effect of inflation )

m% = (100% + ( 0.7225% x ( 100% - 25% ) ) / ( 100% + 11% ) - 100% = 90.5783%

That's right yes - for this example after just 12 months your percentage of m (medium of exchange) left of your investment yield in taxed usury was worth 90.5783% of what it was worth 12 months ago.

For a period of 30 years (if you went this route and not bought an asset like gold or a house or intellectual property for example Bitcoin) based on the same values above (if they remain unchanged) this will become 90.5783% ^ 30 = 5.1371%  That's right - that is what will be left.  Now where did that other 94.8629% go again   and that was just in my generation?

Is barter trade/exchange illegal in the United States?  Better leave those silverware ornaments in the cupboard - don't exchange them for someone's bicycle!!

If you exchange something of intrinsic value for something else of intrinsic value - is that not barter trade?

Does uniquely identifiable Bitcoin (digital goods) give the private key holder - the intellectual property right (intellectual property right value = fluctuating intrinsic value determined by market forces) to a world wide, efficient accounting network system - based on cryptocragphic key pairs, and backed by a secure network of thousands of computers (number and secureness determined by free market trading/exchange/barter forces), dedicated to this task?

"In new developments in the world of online transfers it has been established that anonymously exchanged online virtual Visa and Mastercard debit gift cards have been used to buy drugs, child pornography and illegal pirated digital goods from online shops proxy-posing as legitimate digital downloadable goods distributors."



Whilst the above quoted scenario might definitely be a possibility in our everyday existence, it is used fictionally as a demonstration of a possibility.  In the main stream media however, a blind eye is turned to this possibility.  Is a big deal of this possibility made, or even investigated by powerful Senators?  Or are the Senators first waiting for a donation from Bitcoin to give Bitcoin the same respectful treatment, in order to be - not smear campaigned?  It is not Bitcoin in default, but the Bitcoin (or any other asset) laundering criminals that should be investigated.  Shouldn't it be publicly corrected and clearly be stated, that your crusade is against criminals and not the legal Bitcoin trading public?  Don't you have all the legislation currently in place to bring a suspected Bitcoin launderer (like any other asset launderer) to book?  If anonymization is the problem, is the problem you have not with the Tor network endorsed by some?  Because anonymization is not a standard feature of the Bitcoin algorithm.

A criminal's Bitcoins are worthless if it can not, at some stage, access an economical use, at its network entry or exit point.  Please use the transparent, publicly available Bitcoin blockchain to investigate your Bitcoin laundering criminals, subpoena a suspected Bitcoin user, or any under investigation, to testify what the source of their Bitcoins were.  You can even transfer it out of existence to any address without a corresponding private key - that is to say if a legitimate source can not be proven (this is if the onus under your jurisdiction is on the suspect to prove innocense) - it will justly increase the value of legitimately acquired Bitcoins for the damage done in recent press articles.  And then leave the legitimate free market, digital goods (uniquely identifiable Intellectual property of Bitcoin cryptographic keys, accounting allocation system in this instance) trading community, out of the generalizations - or be equatable and publicly demonize the debit gift card industry as well - and face damage claims from the companies/individuals involved.  Anonymous and untraceable is a misrepresentation - with engough time, effort and protocol and ip monitoring (in combination with tor monitoring already conducted), an investigation can reveal everything, if the onus of proof lies with the investigator and not the investigated.

Note:  It is not the Bitcoin algorithm's standard protocol to launder Bitcoins - it is a wilfull illegal act.  It is also against Debit Gift card companies' policy to transfer ownership from the recipient of a debit gift card - but debit gift card laundering will be an illegal wilfull act.

Probably only the illegal drug buyers / sellers think it's a good thing bitcoin is used to buy illegal drugs.

Maybe the focus should be on getting out of our comfy offices and catching illegal drug buyers / seller out there and not so much on Bitcoin.  Or start focussing instead on the US dollar used by a much larger illegal industry internationally - if you want to deviate from the real problem and put blame on the medium of exchange (which can be any asset class or privilege perc).

Disclaimer:  Postings of Cloud9 are only individual views of opinion.  On a public forum you do not need permission from me to derive your own conclusion / opinion, so please do.

In my opinion Bitcoin is not a money.  As a digital good, it is traded/bartered as a medium of exchange for other goods / services / cash(national currencies).  In itself it is not money / currency - as it is not a store of value backed by any issuer of authority.

Disclaimer:  Cloud9's postings are individual opinions.  You should derive your own opinions.

Barter trade like Bitcoins (secure digital goods) will always exist in any community.

Pity!

I would however view bitcoin as an internet good/commodity (intellectual property right held by the cryptographic key holder) regulated by the information industry and not a money/currency regulated by the financial industry.  A P2P crypto-commodity.  Luckily the legal mine field is less strenuous than fincen.org of the financial industry.  How can they call it a currency anyway on bitcoin.org?  MtGox calls it commodity, the UK tax office will tax it only when its turned into currency, and the Australian tax office will tax it like barter transactions - according to an online news report. ( http://www.theregister.co.uk/2011/06/08/bitcoin_under_attack/ )

Disclaimer:  This is the views of Cloud9, you should derive your own opinions.

Some more fiction:

Swimmer:  "But its anonymous!" 
Anders:  "No it is not!" 

Swimmer:  "But its untraceable!" 
Anders:  "No it is not!" 

Swimmer:  "But its illegal!" 
Anders:  "No it is not!" 

Swimmer:  "But you can launder it!" 
Anders:  "Yes you can! Like most assets!"   

Swimmer:  "But if you LAUNDER it, THEN it will become maybe untraceable or even anonymous!" 
Anders:  "Yes." 

Swimmer:  "But laundering is illegal!" 
Anders:  "Yes it is." 

Swimmer:  "Oh I get it!, Ghostbusters go after those LAUNDERERS and DRUG PEDDLERS at least we can LITIGATE .... THEM!" 

All legal Bitcoin crypto-commodity users:  Cheer!! 

Some more fiction:

Swimmer:  "But its anonymous!"  
Anders:  "No it is not!"  

Swimmer:  "But its untraceable!"  
Anders:  "No it is not!"  

Swimmer:  "But its illegal!"  
Anders:  "No it is not!"  

Swimmer:  "But you can launder it!"  
Anders:  "Yes you can! Like most assets!"  

Swimmer:  "But if you LAUNDER it, THEN it will become maybe untraceable or even anonymous!"  
Anders:  "Yes."  

Swimmer:  "But laundering is illegal!"  
Anders:  "Yes it is."  

Swimmer:  "Oh I get it!, Ghostbusters go after those LAUNDERERS and DRUG PEDDLERS at least we can LITIGATE .... THEM!"  

All legal Bitcoin crypto-commodity users:  Cheer!!  

Some more fiction:

Swimmer:  "But its anonymous!"  
Anders:  "No it is not!"  

Swimmer:  "But its untraceable!"  
Anders:  "No it is not!"  

Swimmer:  "But its illegal!"  
Anders:  "No it is not!"  

Swimmer:  "But you can launder it!"  
Anders:  "Yes you can! Like most assets!"  

Swimmer:  "But if you LAUNDER it, THEN it will become maybe untraceable or even anonymous!"  
Anders:  "Yes."  

Swimmer:  "But laundering is illegal!"  
Anders:  "Yes it is."  

Swimmer:  "Oh I get it!, Ghostbusters go after those LAUNDERERS and DRUG PEDDLERS at least we can LITIGATE .... THEM!"  

All legal Bitcoin crypto-commodity users:  Cheer!!