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101  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: February 28, 2015, 05:32:12 AM
Well folks,
This looks like the end of the road for AM.  Friedcat has abandoned it.  I secretly hope this nudges him out, but all indications are that he has left the building.  Another one bites the dust. Sad

Where are you hearing this from?

Is it just me or is this downtime from Havelock suspiciously 'poorly' timed. AMHash suspends dividends and now this Friedcat rumour. It's a little too circumstantial for my taste.    Huh
102  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: February 26, 2015, 05:54:18 AM
With as many people predicting a stock crash, I wouldn't be surprised to see another QE appear just in time to screw everyone who is sensibly short.

Wait for the EU QE madness to end first ... then I think you might be on to something. mid 2016 ;-)


just in time for the next halving  Tongue
103  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: February 25, 2015, 04:14:10 PM
Quote
HSBC bosses apologise for 'unacceptable' practices
  BBC

HSBC apologise for getting caught you mean.......Ahhhhh these bastards Send them to guantanamo and throw away the key.  Angry


Meanwhile from ZH
Quote
Ukraine Enters Hyperinflation: Currency Trading Halted, "Soon We Will Walk Around With Suitcases For Cash"


its the globally hypocritical double standards the bug me the most.
104  Other / Politics & Society / Re: NSA hid spying software in hard drive firmware on: February 17, 2015, 05:56:38 AM
http://arstechnica.com/security/2015/02/how-omnipotent-hackers-tied-to-the-nsa-hid-for-14-years-and-were-found-at-last/
Quote
A long list of almost superhuman technical feats illustrate Equation Group's extraordinary skill, painstaking work, and unlimited resources. They include:

    The use of virtual file systems, a feature also found in the highly sophisticated Regin malware. Recently published documents provided by Ed Snowden indicate that the NSA used Regin to infect the partly state-owned Belgian firm Belgacom.
    The stashing of malicious files in multiple branches of an infected computer's registry. By encrypting all malicious files and storing them in multiple branches of a computer's Windows registry, the infection was impossible to detect using antivirus software.
    Redirects that sent iPhone users to unique exploit Web pages. In addition, infected machines reporting to Equation Group command servers identified themselves as Macs, an indication that the group successfully compromised both iOS and OS X devices.
    The use of more than 300 Internet domains and 100 servers to host a sprawling command and control infrastructure.
    USB stick-based reconnaissance malware to map air-gapped networks, which are so sensitive that they aren't connected to the Internet. Both Stuxnet and the related Flame malware platform also had the ability to bridge airgaps.
    An unusual if not truly novel way of bypassing code-signing restrictions in modern versions of Windows, which require that all third-party software interfacing with the operating system kernel be digitally signed by a recognized certificate authority. To circumvent this restriction, Equation Group malware exploited a known vulnerability in an already signed driver for CloneCD to achieve kernel-level code execution.

Taken together, the accomplishments led Kaspersky researchers to conclude that Equation Group is probably the most sophisticated computer attack group in the world, with technical skill and resources that rival the groups that developed Stuxnet and the Flame espionage malware.

The unfettered arrogance of these spies makes my skin creep.

What happens next I wonder?  Governments, agencies and hackers around the world have just received an advanced class in malware and will co-opt it to do as they please. The harm done by these intrusions will be 10 fold any advantage gained.
105  Bitcoin / Bitcoin Discussion / Re: Bitcoin 20MB Fork on: February 16, 2015, 10:05:21 PM
wow this thread was 5 pages long last time I checked.

What the hell happened did every Troll in the world come out to play?  Huh
106  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: February 16, 2015, 09:56:24 PM
Back on topic

seems the Greeks are buying gold

http://www.zerohedge.com/news/2015-02-16/greeks-are-running-towards-gold-retail-demand-increases-123
107  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: February 16, 2015, 09:46:28 PM

well, but there is a difference between losing money of government/bank-backed fiat kind and losing decentralised BTCs, right?
In the first case, there are certain guarantees to protect you from a loss, even if that means 'let's print some more money', in the latter case, once the money is gone it is gone for good. Unless the receiving party will send it back to you. I just can't find the reason for doing so.

In the former case the banks loss is covered by increasing everyones premiums and insurances or with a bail out by governments in the form of QE monetary dilution. In the latter the company that lost all the BTC either goes bankrupt or recompenses customers loss, plus all of their contemporaries are incentivised into making stronger storage systems.

When you come down to it, the primary complaint detractors have against bitcoin is they cannot socialize their own losses, that are a result of their own incompetence, on others . The prospect that they will directly bear the consequences of their own bad decisions, and not be able to force their loses on others, scares them to death.

Those of us who are sick and tired of have other people's losses forced on us (as uki promotes), look at bitcoin as a salvation.

Nailed it. Another thing is that abandoning personal responsibility for the supposed safety of the "experts" or authorities makes you incapable of critical thought and independence. You can see the same effect in pretty much every area where government is heavily involved. Nowadays people can't even educate their own children, care for their own health, plan their own retirement or handle their own money. A pretty sad state of affairs which can imo be only remedied by relocating responsibility where it belongs and where it is most effective: with the individual.

I'd suggest your taking it slightly too far here, a person can not be an expert in everything, there simply is not enough time in the day. TRUST being the key issue. I trust a teacher to provide a good education or a service to perform as they claim. Obviously due diligence is an important factor but an unwatched business will frequently cut corners/ take extra risk to make a profit. (hence the misconception regulation will improve the status quo). The point most detractors don't seem to realise is that theoretically at least, Bitcoin businesses have the potential to eliminate the need for trust entirely.  (just wish more of them would implement it already)

This is hugely valuable and seldomly mentioned in the mainstream media.
108  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: February 16, 2015, 12:30:13 PM

well, but there is a difference between losing money of government/bank-backed fiat kind and losing decentralised BTCs, right?
In the first case, there are certain guarantees to protect you from a loss, even if that means 'let's print some more money', in the latter case, once the money is gone it is gone for good. Unless the receiving party will send it back to you. I just can't find the reason for doing so.

In the former case the banks loss is covered by increasing everyones premiums and insurances or with a bail out by governments in the form of QE monetary dilution. In the latter the company that lost all the BTC either goes bankrupt or recompenses customers loss, plus all of their contemporaries are incentivised into making stronger storage systems.



 
109  Bitcoin / Bitcoin Discussion / Re: Permanently keeping the 1MB (anti-spam) restriction is a great idea ... on: February 13, 2015, 05:08:05 PM
Ok, so say we go ahead with a hard fork to a > 1MB max block size ... are we also going to see a couple of other hard forking issues put through all at the same time or will this one be done alone?

Could it become like those congressional bills where all the crap legislation gets stuck inside the fine print of the guns 'n drugs 'n terrroists 'n kids cover page?

While in theory that is the most sensible idea, in practice, adding other changes will only slow down the implementation of what already has proved to be very contentious (yet shouldn't have been).


Hard forks are a thing for the protocol youth stage. HForks will become virtually impossible in the future as too many opinionated developers bash each other. My only hope is that the important scalability changes are made before there are too many dependencies. Ossification is rapidly approaching. 



110  Economy / Securities / Re: AMHash1: Cost-Effective Mining Contract on: February 13, 2015, 07:42:33 AM
Big dumping happening right now...
Can't believe they haven't made a clearer announcement....

Is there a reason for anyone to buy or hold these shares?

Depending on how this works, there's plenty of reason to buy after people are done dumping.
At the very least, we should expect price to go up once dividends start up again - if you buy at bottom price, you win.
But there might be an even more compelling reason: Lets assume that on March 1st (or whenever) there will be a huge dividend payout for the previous 20 or so days: roughly 0.0001 BTC per 1 unit which currently costs under 0.0008 BTC to buy. That one dividend alone is worth 12.5%. And I'll assume it will be paid in full to whomever owns the shares on March 1st (not split over who owned them in previous days). So it becomes really profitable to buy on that day before dividends. Since many people will expect the huge payout we might see a big buy order queue and a little price bubble that will burst as soon as dividends are paid. Of course it's all speculation, but if it happens like this there's plenty of great opportunities - all of which involve buying/holding in this break period.

That is a big gamble at this point. Who knows if they will reto pay any lost dividends?
111  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: February 12, 2015, 06:22:19 PM

The race to the bottom continues.

Sweden cuts it's interest rates to negative 0.1% and starts QE

http://www.nytimes.com/2015/02/13/business/international/sweden-cuts-interest-rate-and-announces-bond-buying-program.html


Quote
The decision means that Swedish commercial banks will be able to take out loans from the central bank at a negative interest rate. When the loans are due, banks will pay back less than they borrowed.

Does that only sound crazy to me or anyone else?  I've already accepted the ECB's negative interest (i. e., fees) when banks park money at it.  But at least a loan is still at positive 0.05%.  So if I'm a Swedish bank, I'll just get a billion in cash, put it in my vault, pay back less and profit?  How's that ever going to work out?

Nothing makes sense any more. Perhaps i'll nip over to sweden and get a couple of billion Krona loan then buy bitcoin with it.  Huh
112  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: February 12, 2015, 03:10:20 PM

The race to the bottom continues.

Sweden cuts it's interest rates to negative 0.1% and starts QE

http://www.nytimes.com/2015/02/13/business/international/sweden-cuts-interest-rate-and-announces-bond-buying-program.html
113  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: February 09, 2015, 01:39:29 PM
Europe really is hotting up these days. Greece could end up being the new Lehman Brothers.

http://www.bbc.com/news/business-31300992

Quote
Greek bank shares fall sharply as fears over exit grow

one word ...  Contagion
114  Economy / Securities / Re: [796.com] Red Star Mining est. January 2012 - currently 23.57(TH/s)@23.88kW live on: February 06, 2015, 06:43:22 PM
Any updates?  Roll Eyes
115  Bitcoin / Bitcoin Discussion / Re: Permanently keeping the 1MB (anti-spam) restriction is a great idea ... on: February 05, 2015, 01:25:28 PM
Really glad to see this stupid conversation laid to rest once and for all.

All trolls/ vested interests now please shut up..

Well said D&T .... Claps hands   Grin
116  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: February 05, 2015, 09:37:26 AM
Federated version of the Sidechains will be released in 1-2 months

http://insidebitcoins.com/news/gregory-maxwell-demo-sidechains-to-be-available-in-a-few-months/29531

Quote
Testing sidechains before the soft-fork

After explaining how this federated, demo version of sidechains would work, Maxwell went on to explain what happens after this version of sidechains has been tested in the wild:

“Beyond [federated sidechains], we have to see where it goes from there. It’ll take some time for the initial system to mature and for people to gain confidence enough to start saying, ‘OK. Well where can we start introducing the soft-forking, additional scrypt opcodes to make it so you can do it without the functionaries — without the federation.”

can't wait to see some of this in the wild. 
117  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: January 30, 2015, 04:15:47 AM
Pretty disappointed Reddit seems to be abandoning it's cryptocurrency plans.  Angry

https://twitter.com/ryanxcharles/status/560922573769170944


Quote
I was hired as cryptocurency engineer in September, for which I left my job at BitPay. I was won-over by the then-CEO Yishan, who had an awesome vision for the future of reddit, including cryptocurrency as the financial system of the internet city that is reddit. However, Yishan suddenly and unexpectedly resigned his position a month or two later, probably due to exhaustion. This was in the midst of great existing turmoil at the company, such as moving the entire, formerly-remote company to SF, raising a new round of $50 million


probably those silly SEC folk again making things difficult Huh
118  Bitcoin / Bitcoin Discussion / Re: Winklevii will become one of great capitalist barons of this century! on: January 29, 2015, 05:10:05 AM
Does anyone here know anything about the politics of these two? Are they libertarians, or just lucky rich kids who bought a shit load of BTC at the right time and now intend to milk it for all its worth?

There are many scammers, many technologists and many philanthropists plus a huge number of greedy get rich quick kids in the is community.

Where do Winklevii fit in?



honkies from the east coast, most likely dyed in the wool conservatives.
These type of American Upper Class people, when they go into business, tend to donate $$$ to BOTH democrat and republican incumbents. Its called hedging their bets. Which ever party wins, they are golden.

Their politics are "Always back the winner"

You mean the only thing we can trust about them is their selfish greed?  Ohhhh skips for joy

was hoping for the environmental philanthropist option.

119  Bitcoin / Bitcoin Discussion / Re: Winklevii will become one of great capitalist barons of this century! on: January 28, 2015, 12:07:39 PM
Does anyone here know anything about the politics of these two? Are they libertarians, or just lucky rich kids who bought a shit load of BTC at the right time and now intend to milk it for all its worth?

There are many scammers, many technologists and many philanthropists plus a huge number of greedy get rich quick kids in the is community.

Where do Winklevii fit in?

120  Other / MultiBit / Re: MultiBit on: January 28, 2015, 10:52:29 AM
Seems to be a phishing scam going around

https://i.imgur.com/5HcH41z.jpg

keep alert  Angry
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