Vids of 50GH BFL miners from Bitcoin Conference up now.

Bitsafe +1

EDIT: http://t.co/XX0LzuEsnK 36 mins in

http://www.bitcoin2013.com/bitcoin-2013-panelists.html

Tons of funny pics but a gem mined from there is below...
   
Peter Todd is known in the Bitcoin community for his work on off-chain transactions, in particular finding ways to reduce or eliminate the need to trust third parties. He is also known for his advocacy of off-chain transactions as the means to allow Bitcoin to scale to global transaction volumes while still remaining decentralized. Peter also works as an electronics designer for a mining industry startup - that is, the type of mining that involves geologists.

This guy... sounds like he is working on this concept already.

That is the point... NO FIAT and NO ONE IN CHARGE just like BTC and altcoin transactions now... a DECENTRALIZED, CRYPTOCOIN ONLY EXCHANGE.

The point is to break the dependency on an external exchange that is profiting from your trades and move it into the P2P networks so that exchange fees are distributed to miners in the form of transaction fees when trades are completed... it adds a whole new layer of mining profits to the current setup which helps bring more miners to the network and broaden adoption... and eliminates the need for someone to RUN the exchange... plus it also eliminates DDOSing problems with current exchanges.

I am thinking a bit more inclusive... like a client that is able to use every coins wallets and blockchains... something like Ufasoft's coin maybe, just expanded to allow user to user intercoin transactions, with transaction fees being sent to the appropriate blockchain to divy out for the miners.

Keeping it inclusive to the client at the source level on the existing P2P would solves the issues of possible hacking of the client and network itself.

Just like the mining tab in QT clients, an exchange tab built on a separate blockchain to store buy and sell order data would be used and traders can see the coins current values against BTC, and functions coded to do non BTC to non BTC transactions in one step.

I wish I had time and a bit more coding experience so I could detail this better...

You are not 100% on that second part... the Bitcoin payment system IS SECURE... it is the PLATFORM users choose to deploy and use it on that is getting them in trouble.

If the bank can't keep its servers secure... what good is a PIN and passcode? Especially in this age of compute power... brute force is more realistic today than ever before... hence why a database breach requires you change your password, even if the data lifted was encrypted.

Just owning a PC that is online should require the same amount of security whether you use it for Bitcoin or just everyday web surfing. Securing one AT AN APPROPRIATE LEVEL is the same as doing so for the other... you dont want you online account passwords hacked or captured right... even if it is just for youtube logins and webmail? Same thing if you add Bitcoin into the mix... safety is safety and there should be no gray area... either you care and you do it right... or you fuck off and get fucked... excuse my language but it hits the point home.

A wise person taught me something a long time ago... and it stuck.

Locks only keep HONEST PEOPLE HONEST.

A thief will break any lock they know how to... even if there is not anything to take sometimes... just for the lulz.

As for the encryption by default argument, I suspect we would have 100X the "I can't get into my wallet anymore I lost my password" threads than we do now. The bank REQUIRES a PIN or passcode because THEY ARE THE INTERMEDIARY WHO STORES YOUR FUNDS... in Bitcoin there is no intermediary... YOU ARE THE BANK THEREFORE IT IS YOUR RESPONSIBILITY TO USE THE TOOLS YOU HAVE BEEN PROVIDED... i.e. use encryption, follow the tutorial for offline wallets and for god sake join the 201X's and L2 keep your PC safe... not a hard concept... just requires a little reading and effort.

If my 55 yr old mother can pick up a computer for the first time 5 yrs ago and teach her self how you use the internet, webmail, antivirus and antimalware programs, social media and online banking... the rest of us under 30 have no excuse.

Like an Android wallet you use on a device that has no cell service connected to it and wifi off until you are ready to send the transaction to your online device?

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Wow... and what "good firewall" might you be using? Also, just having a router does not make you any safer... it just adds a couple steps to making a connection to networked equipment.

If you are really looking for security, you need to read more and listen to the people here who aren't flaming you, they are giving you good advice.

For starters, I do the following for my BTC use:

HOT WALLET: I have an active wallet on Blockchain.info that is solely used to payout directly to people I exchange with outside of BTC-e or VirCurEx... this is merely a personal choice as it makes it so I can send BTC from anywhere I have internet and everything has an email alert.

SIMMER DOWN WALLET: I have an encrypted wallet that I use to receive coins from others in exchange for services or donations etc. This wallet is located on a VPS that is ALWAYS OFF until I log in to boot it and unlock the wallet... it takes a while to get the blockchain but I only access it about once a month and track it using the blockchain.info to see if there is anything there before i even bother. This is not that secure by itself but keeping my VPS account secure and the VPS offline unless I am using it addes to it... and it is never much BTC anyways.

LUKE WARM WALLET: There is an encrypted wallet on one my HDDs in my file server at home, but it is not in any typical directory, does not have any other files in the same directory, is hidden, and can only be accessed by my administrator login, of which uses a hashed key as a password which is stored on a USB drive on my keyring. This is used as an intermediary before I send BTC to cold storage. I use this wallet to withdraw from exchanges and as my mining wallet. I try to empty it daily. Also, this server DOES NOT actually host the client I use to unlock and transfer BTC... I have to map to it from my laptop with the Administrator hash key and then I can drop a copy into the client directory, restart it, do my business, encrypt it again then overwrite it back to the server before disconnecting the mapped drive.

COLD STORAGE WALLET: I have a wallet address and privkey pair that I generated with vanitygen... at 45 BILLION difficulty... and I have NEVER used it for anything but receiving BTC. I tested another address and privkey pair by importing it into Blockchain.info and once I confirmed it worked, the harder address and privkey were generated (got mad lucky said it would take 2.5 yrs in oclvanitygen but it popped up on day 4) and tested sending it some BTC... walla Blockchain shows it has value but there is no way to get to it until the day I import it somewhere. I pay myself 30% of my mining intake and transfer that here plus any substantial payment/donations.

LONG TERM INVESTMENT WALLET: I also have a wallet I put my first 5+ BTC in... it is encrypted and exists in a handful of formats... keys printed and mailed to my mother who put it in our family safe deposit box, a copy of the encrypted wallet.dat on a USB that is also encrypted and sits in my safe deposit box at the bank, another USB that is encrypted and sits in my son's dresser with his other personal items he keeps, the encryption password for both USBs was printed (again a hash key), sealed in an envelope and given to my mother in law to put in her safe deposit box, and lastly the UNencrypted wallet.dat was burned to 2 DVDs that are locked away somewhere with my grandmother... i have no clue where as she agreed they would be sent to her personal estate storage and could not be retrieved until her estate is passed to me upon her death (dad was furious rofl that's what you get for alienating yourself from the family DAD... GG).

Anybody got any other methods that you use to keep safe? I know it sounds like a lot of work for some BTC... but I know I won't be posting here with a sob story and 100s if not 1,000s of BTC stolen.

If someone really wanted to do this correctly, it would be written as an addon to possibly include in the source for the client instead of a separate platform.

Would it really be that hard to use the current messaging built in the client to accomplish this? Or some additional JSON functions and a new tab in the client to make exchanging live in real time with the blockchain?

That would be the path of least resistance IMHO... uses the established P2P network and it captures 100% of the traders AND it allows the transaction fees collected by the exchanges to be converted to transaction fees that actually go back to the miners... instead of the % charged at the exchange to move some data values.

Seems like a worthy project if someone has the skills to put it together... no reason there should not be an exchange tab built into the client.

EDIT: thinking that through a bit more... that would mean NO FIAT only coin exchanges and the devs of the altcoins would have to all come to an agreement on the platform and include it in their clients. Might be a lot tougher than I first thought but still a worthy project of massive proportions.

$3-$4 ea for gourmet hand made custom designed cupcakes is the going rate... the wife charges $48 a dozen for handcrafted, Texas sized cupcakes with handmade butter-cream frosting and decorated to order, all wrapped in the paper pattern of your choice and delivered by hand to your event, doorstep or available for local pickup.

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THX!

EDIT: Tweeted!

Read it before.

Did we impeach Bill Clinton? His immoral choices did not stop us from letting him reside over the most recent economic surplus in US history?

Just sayin'... everyone deserves a chance to show they learned from their mistakes... and if he is operating then SOMEONE in the justice system signed off on it.

Nicely put. Thanks for taking the time to clarify how you feel. I just take issue with the statement "broaden yours" as you are telling me I should broaden my opinion?

It is ok, we don't know each other so we have no clue how much we have each read and absorbed on this subject. Please understand that I have kept up with the facts and made my decision to pre-order after I waited a good amount of time to collect the data I needed to feel comfortable enough with the risks.

As for your talking points, consider the below rebuttals:

Ever heard of a restocking fee? Did you know if you agree to purchase something that has not been made yet, and the sales receipt includes verbiage detailing a restocking fee, even if the item was never physically in stock at the local depot, or even if it was on back order at the manufacturing facility, legally they can still charge the fee if you request a refund... because in the order first, fulfill on X time frame model, the purchase monies are immediately used to secure your place in line at the manufacturer.

I know this for a fact because the company I used to work for had this policy... it is a bad policy but it is not like the customer was not told that their purchase was a manufacturer direct purchase... they are told and have to sign off that they understand we didn't stock 95% of the product and the moment we finalize paperwork, we order the item from the manufacturer. Not my policy, I hated it, but I watched so many get charged like that... and even the BBB couldn't do anything as the customer signed the contract. Glad I left there... they had another paragraph that stated all dates were estimates and subject to the manufacturers time frame and supply blah blah... let them get away with murder...

The point is, whether BFL anticipated having to refund customers or not, it is not their fault if someone chose to use their credit line to secure their pre-order... that was the customer's decision... and to boot, I was unable to use any of my credit lines with purchase protection to order... I ended up using PayPal... and even they would not let me use a credit card... decided to just use available funds from cashing some coin in and 50% from my best friend to go in with me on this. The same goes for any other payments in fiat... you don't get interest back from a cancelled purchase even if the seller couldn't ship to you on time... you get the amount you paid and that's it... show me a retailer that refunds more than the purchase price because they ran out of stock or could not get stock in the time frame you desired? They might offer a gift card or something else Customer Service related... but not straight cash on top of your purchase price.

I agree it is not complete incompetence... but not everything is 100% in your control when you don't have feet on the ground in the foreign countries that are producing some of your parts. You can't control everything, as a prime example the first company producing the chips gave them a date before Chinese New Year... then subsequently screwed off and almost made Josh have to go sit in their office while they did the job... not something you plan to have to do when you are having millions of $s worth of silicon fabricated. While a good portion of it is due to lack of judgement, and not taking assistance when it was offered, some pieces of it just could not be avoided, like having to transport the remaining wafers to a new facility since the first one caused problems.

The only people I do feel real sympathy for are the average miners who spent all of their BTC minings on these, only to ask for a refund and be cashed at at about 1/7th the amount the total coin is now worth... only the miners though... if someone bought BTC then immediately used it for a miner, they got refunded the same amount of cash they put in. IDC if they could have held the coin and made a killing... their choice to do it that way.

No hard feelings... but nothing in life is 100% the way people plan it to be... another example, I am on a multimillion dollar project right now launching a new manufacturing and warehousing operation on the east coast... and we just got set back a whole year because a drainage ditch sprouted some cattails in it... now the county calls it a wetlands preserve rofl... some 10,000+ feet away from the ACTUAL wetlands preserve, with nothing but high and dry grassy fields between them. Never saw that coming, no sir.

Not that it amounts to much but no, there were a handful of customer orders that went out as well.

You are right that shipping stopped after that, won't argue as that is fact... sadly.

Show me in your first response above where you stated "it was very narrow minded"... because you did not. You plainly stated that I blatantly said someone's opinion was incorrect... you should read and reread more thoroughly before flaming me for something that did not happen.


I also never stated that any of the FACTS you are basing your OPINION on were not true... in fact I applaud you because in reality, all those facts are true... and I do sympathize with some... just not the ones repeatedly crying SCAM! What I did try to relate is this:

The facts about delays, bad announcements about product availability and shipping, bad PR and CRM, the prices doubling and even more shipping delays are all true 100%. That still doesn't equal BFL being a scam... I am sorry but those are all mistakes and miss-steps taken in the creation of cutting edge technology. It happens... if people are uncomfortable with that, they get refunded.

THAT is my opinion, whether you believe it to be valid or not... what is not valid is all those facts ending up with BFL as a scam... sorry just doesn't pass the logic test.

Never said anyone's opinion was incorrect... in fact, that's a completely false and irrational statement.

Opinions aren't right or wrong... they are valid or invalid that is all. To you, your opinion is correct even if it is invalid. You feel the opposite towards promoters of BFL... to you their opinion is wrong even if their reasoning is valid. The only thing that changes that is when BFL ships all units or proves they are a scam by finally pulling out... at which point it is no longer opinion, but fact. Then you can say right or wrong.


No sir, not this user... I may be fresh to posting here, but this is not my first go round reading these forums... just been a lurker for so long up until I felt I wanted to be able to exchange and participate with some of the altcoin devs and community members who post here.

inorite?!?

/wrists g'bye cruel world!

Damn i'm good... 4 posts and already on ignore... go me!

Glad I could help him got to his 10 posts though... GG!

Are you kidding... I WISH I was a BFL employee... they could use some better CRM for sure...

I know it hurts but it isn't me you are mad at... wooooooooooo..... sahhhhhhhhhhhh... try breathing a bit... maybe the stick will fall out and you will feel better?