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1001  Bitcoin / Bitcoin Discussion / Re: Sending coins for neighborhoods to be more silent on: June 14, 2014, 06:25:07 PM
Sometimes you have neighborhoods that do unwanted noises. Could be musical instrument they are trying to learn, DIY constructions or pure noise. Maybe they could have address for tips for less noise.

How does it sound? Similar ideas?

It sounds like you are essentially paying them to not exercise their right to free speech.

If people are making a lot of noise at late hours of the night you should simply ask them to quiet down and they most likely will make less noise.

I do like the idea of giving people an incentive to meet certain standards via bitcoin, just not when "speech" is involved.
1002  Bitcoin / Bitcoin Discussion / Re: University Accepts Bitcoin on: June 14, 2014, 06:22:57 PM
Wow, as for me, (I have two kids 5 and 6 years old) it sounds really cool, even now, when my kids are small I can start investing in their future education!!!

You can and should invest in your children's education regardless of if a particular university accepts bitcoin.

Very few people have enough money in bitcoin in order to use to to pay for a college education.
1003  Bitcoin / Bitcoin Discussion / Re: Under 18 Bitcoin Trading on: June 14, 2014, 05:53:08 PM
Hello all, I was wondering if I would get denied when I try to verify my account at Bitstamp or Kraken because I'm only 17. And what is the easiest way to buy BTC under 18?

Localbitcoins is one option if there are sellers in your area but most of them charge at least 4-5% fees

If you're in the US, I'm pretty sure Coinbase does not even ask your age when you sign up for an account, just provide bank account info and verify, then buy BTC! 1% fee there.



You need to verify your identity with Coinbase and they will see that you are under 18. I am pretty sure that the TOS on coinbase say that you need to be at least 18.

Localbitcoins or a BTC ATM are the two best options.
1004  Economy / Economics / Re: The kids will laugh about this... How international payments work on: June 14, 2014, 05:50:58 PM
When you use a smaller bank to transact business internationally you will need to pay fees to many banks (only only directly pay your bank but many people get paid).

With bitcoin it is only the miners that get compensated.
1005  Bitcoin / Bitcoin Discussion / Re: Just want to say (btc value "history") on: June 14, 2014, 05:49:39 PM
Just wanted to note, in two years as we are here, bitcoin had an apreciattion of 10000%
Source bitcoinity, change: +9999.75%

Early adapters of almost every "net" investment almost always make out very well. That is assuming of course that the venture is successful.
1006  Bitcoin / Bitcoin Discussion / Re: Winklevoss twins: Bitcoin will be bigger than Facebook #bitcoin #facebook on: June 14, 2014, 05:34:06 PM
We need to have Bitcoin simplified for people who are not tech savvy.

People who are not tech savvy would be better off not using Bitcoins. Already robberies and hacks are targeting even the most tech savvy of the users. If the less tech savvy decides to use Bitcoin, then it will be just a matter of time before they are conned.

In order for Bitcoin to be successful in the long run it must be adapted by people who are not tech savvy.

What needs to happen is apps/wallets/programs needs to be developed for people who are not tech savvy to use for bitcoin. One example of this may be Circle (at least that is what they wish you to think).
1007  Bitcoin / Bitcoin Discussion / Re: Multiple wallets mathematically more prone to loss? on: June 14, 2014, 05:32:18 PM
As long as you have enough entropy, I do agree brain wallets are perfectly fine. The reason why many people including myself advise against it is that in general people are too lazy to properly choose random words instead substituting them for words they believe to be random or ones from famous films/songs/poems et al.

It's not just that.  Everyone can work on cracking a brainwallet from anywhere.  To crack a wallet.dat file they have to have a copy of it.

Anyone can also work on cracking a private key from anywhere too without the wallet file.
Bitcoin private keys have 160 bits of security, maximum.

So, you just have to make sure your brain wallet has enough
bits of security (128-bit or more).





Brain wallets should really only be used if you have serious concerns about your computer being compromised in the future (and this is a legitimate concern).

An effective brain wallet must be memorized, otherwise it is no better then a paper wallet or a password protected wallet on your computer.

People use "mining farms" to calculate the public key of many brain wallets and monitor the blockchain for when btc is transferred to the address. When it is they use a script to push a TX to transfer the coins to an address they control.
1008  Bitcoin / Bitcoin Discussion / Re: Bitcoin on the road? on: June 14, 2014, 05:27:46 PM
It would generally be better to keep your business in one place.

Repeat customers are one of a business's biggest asset.

If you are traveling then your customers can only buy from you once (or less then they otherwise could).
1009  Bitcoin / Bitcoin Discussion / Re: How to make a custom bitcoin adress? on: June 14, 2014, 05:26:11 PM
There are a multitude of programs for generating vanity addresses but you should definitely do your research on how they work and their authors before you use them.
What could go wrong for example?

If the program creates a private key, uses a hash to find the public key and make a mistake. It could potentially give you a public key and the incorrect private key.
1010  Bitcoin / Bitcoin Discussion / Re: Bitcoin set to overtake PayPal in 2014 on: June 14, 2014, 05:24:39 PM
Paypal downfall has been and will continue to be their bad customer service and the way they freeze you money for months. I would love nothing more than to never read another piece on PayPal (good or bad) for as long as I live.Go Bitcoin!

Paypal would have been extinct ages ago. But just because Ebay and other online retailers such as Amazon are supporting them, they are able to survive. Now with Bitcoin around, they won't survive for too long, even with the help from Ebay.  Grin

paypal is huge, and multiple merchants support paypal payments (newegg, tigerdirect i believe, and a bunch of other online retailers). they are too big to just disappear overnight. maybe they start to see some attrition, but that doesn't mean they'll be marginalized by bitcoin.

Most merchants that accept paypal are very small businesses (and eBay sellers). IMO they are being taken advantage of because there is very little competition. Bitcoin provides that competition.
1011  Bitcoin / Bitcoin Discussion / Re: Possible fix to the "Bit"/"mBTC" problem on: June 14, 2014, 05:22:53 PM
Can't we just call everything in satoshis? Would make things a lot easier.

It you were to do that then you would quote how many bitcoin you have in the tens of millions of satoshis if you only had a few hundred dollars worth. This would make the value of bitcoin look less then it really is.

If the price of one bitcoin is too high (some may argue that point now) in terms of per unit, not in terms of value, then it may deter users from adapting.
1012  Bitcoin / Bitcoin Discussion / Re: Vancouver getting all the love - 2nd Robocoin ATM found!! on: June 14, 2014, 05:18:51 PM
The more ATM's the beter. Fees will go down sooner as amount of ATM's increase. Once it's low enough, it will enable random Joe to use Bitcoin and wanders it provide.

Your average "Joe" already can use bitcoin as he pleases.

ATMs will help connivence the public that it is beneficial to use bitcoin.
1013  Bitcoin / Bitcoin Discussion / Re: US Government Bans Professor for Mining Bitcoin with A Supercomputer on: June 14, 2014, 05:17:24 PM
Quote
There was an article, I believe in 2012 that said some guy who was in charge of IT at a middle school was using like 50+ computers to CPU mine bitcoins. This was back when CPU mining was still viable.

I tried to find the article you referenced.

Perhaps you meant the Australian Broadcasting Company?

http://www.crikey.com.au/2011/06/22/tips-and-rumours-481/

http://delimiter.com.au/2012/05/21/the-abc-didnt-sack-bitcoin-miner/



I don't think it was either of those. Although both of those articles were I believe talking about the same incident.

If I remember correctly it was in PA.

It was almost certainly a school and I think the guy was doing it over the summer.
1014  Other / MultiBit / Re: We should stop recommending Multibit on bitcoin.org, NOW on: June 14, 2014, 05:12:40 PM
I've definitely used multibit quite a bit without issue.  I also have my keys printed out and stored in a safe place.  I need to look through that reddit, but what's not clear to me is:

1) is the bug something that 'eats your coin' as in sends it so some null address or something?  or does it just corrupt your wallet, etc?  If the latter, I'm not so worried since I have backups of all the  keys.

2) is this resolved?  If it is, can OP modify the thread name, it's kinda alarmist to leave it up if there's not a current issue anymore.

According to the release notes the issue has been resolved.
1015  Bitcoin / Legal / Re: My buddy is getting a divorce. Can the court seize half of his bitcoins? on: June 14, 2014, 05:10:57 PM
Bitcoin is non-seizable right?
And what if he says that he lost it all on a gamble site out of misery?

You can make up tons of things to not let her have the money tbh.

If the judge thinks he lies he will be in trouble and he will need to pay, you cannot always get away by lying

If the judge thinks you are lying then you will be in more trouble then just having lost your money, you would potentially be going to jail.
1016  Bitcoin / Bitcoin Discussion / Re: Any free ways to anonimize your bitcoins? on: June 14, 2014, 05:09:44 PM
There are a number of low cost tumblers/mixers

inputs.io
blockchain shared send
bitcoin fog
SR 2

This is as close to free as you will get.

Blockchain shared send has been proven to be inefficient, bitcoin fog and other centralized solutions are not only potentially compromised (in which case they would offer no real effect) but you would have to rely on them not getting compromised ever even if you used them once.

blockchain shared send will probably not help you hide from a determined attacker, but it would help from someone with very limited resources. Even a determined attacker cannot track coins that go through shared send with 100% accuracy.

inputs.io and bitcoin fog both claim to delete their logs after x amount of time. As long as they do not become compromised after x amount of time then your privacy is secure. I believe "x" is around a week (they delete logs after a week) but I may be incorrect on this.
1017  Bitcoin / Legal / Re: What are the two unregulated "Money Transmitter" states? (USA) on: June 14, 2014, 05:05:57 PM
"Forty-eight US states regulate money transmitters although the laws vary from one state to the other.[3] Most of the states[4] require a surety bond with widely ranging amounts from as little as $25,000 to over $1 million and maintaining a minimum capital requirement."

http://en.wikipedia.org/wiki/Money_transmitter


What are the two free states?


Thanks

I would not consider them "free" states as they still have federal regulations, just not additional, state level regulations.

Fed rules don't apply until the commerce crosses state lines.  If all activity is done within the state the Fed can't say anything.

That is not true. The Federal government can regulate anything that affect interstate commerce.

Not only that but in order for a money transmitter to "transmit" the money they must connect to some network (usually the internet) and it is not unusual for an internet connection to span multiple states even if you are communicating with someone in the next town (same state)
1018  Bitcoin / Bitcoin Discussion / Re: U.S. Marshal auctioning off 29,656.51306529 bitcoins on: June 14, 2014, 05:03:00 PM
Whoever wins any of the 3k blocks will likely tumble their coins many times over.
I'm not so sure I would. As it is, they're a bit famous, and completely pre-laundered (for some definition of "clean").

But your identity would be associated with those specific coins. I believe that the US marshals need to disclose the name of the person who buys property at auction.
1019  Economy / Economics / Re: Quantitative Easing on: June 14, 2014, 05:01:15 PM
That is your notion of inflation, not the one you will read in most textbooks on economics.

"In economics, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time.[1] When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation reflects a reduction in the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy.[2][3] A chief measure of price inflation is the inflation rate, the annualized percentage change in a general price index (normally the consumer price index) over time.[4"

Sir, this is the worst, manipulative post i have ever seen. The above quote is from Wikipedia, BUT you have intentionally erased a line from the definition. The original looks like this:

"In economics, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time.[1] It can be defined as too much money chasing too few goods.


YEP it is pretty clear that user: "Trading" is a douche Fed lapdog with no integrity.

QE IS INFLATION.

INFLATION IS BAD (no matter how try to justify it)

Banks, manufacturers, governments, currencies and everyone should be allowed to fail. In their wake better solutions will arise.

Look at Mt Gox. They sucked. They failed. Now better exchanges rule the landscape. Bitcoin and a truly free market will prevail.





Inflation in general is bad, but the opposite, deflation is much worse. With deflation people will wait until "tomorrow" when prices will fall, causing prices to fall even more, causing people to delay their purchases even longer. This results in a decreased level of economic activity.

Inflation needs to be kept at a low level but not so low that deflation is a threat.

If I am burdened by a large debt (mortgage, toxic MBS's, multiple trillions in national debt) then inflation is the manna from God. It will wipe away my debt by making it worth less.

If I am not burdened by debt (cash in bank, secure job, no mortgage) then deflation is the ants pants as prices decline and I can purchase goods when I believe the price is fair.

I know that mobile phones, TV's etc are going to be much better in the coming years but I still buy them. The model I buy will be much cheaper next year if not next month. I still buy because I want the item. The market would always find a bottom when enough people think it is fairly priced. Shit businesses loaded by debt fail and new ones replace them that figure out how to do things better. I'm not sure I believe that deflation is the devil like you're saying.



Deflation is bad because it leads to lower economic output. It often causes recessions and depressions.

Even if you are not burdened by debt (the security of your job is not relevant) then your income would likely go down or possibly go away and there is a greater chance you will be without work. Most people without debt still rely heavily on their income from working which would be hurt by deflation.

The security of my job is relevant as a secure job produces a regular paycheck. If you have a secure income in deflationary environments then your purchasing power increases as your income remains stable.

There is no way out of this QE mess without deflation. Japan has QE'd for 20 years and still cannot shake it (different scenario in some respects and some - Keiser particularly - even argue that QE begets deflation.)

But anyway, there is always room for conflicting opinions. I dont think there is a way to stop QE without deflation taking over, and it cannot continue indefinitely.

In a economy experiencing deflation, there tends to be less work available. Even if your job is "secure" today it is less likely to be secure during a time that an economy is experiencing deflation. You would also face the risk that your employer still needs you to work but cannot afford to pay you as much per hour (or per year) and were to cut your salary.   
1020  Bitcoin / Bitcoin Discussion / Re: Can we all write to FBI asking not to sell bitcoins but hodl them? on: June 14, 2014, 04:58:17 PM
I just wonder what they did with

A: The bitcoins they earned from selling the Cocaine to the SR vendors.
and
B: Why they didn't announce "Supertrips" bitcoin auction similar to this way? Maybe they just sold them on bitstamp.

a - those coins were not seized, they were voluntarily given to the FBI, so the FBI would not need to dispose of them in the same way.

b - this was likely a much smaller amount so they would not need to generate as much interest to be able to sell them.
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