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Bitcoin has no laws on distribution and there is no exact way to know who owns who, but im guessing is pretty uneven. Then again, Satoshi said he doesn't care about coin distribution and had a "get in where you fit in" mentality, in other words, he doesn't care if an early miner got 100.000 BTC in a couple of days in 2009, and someone struggles to get 1 in 2015, the system still functions.
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It's always nice to see Bitcoin related stuff in more mainstream activities. No one has topped yet the big Dogecoin logo on the Nascar car tho. |
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Correct me if im wrong,but doesn't giving a master public key have the same result? For example, in Electrum, you give someone your master public key so they can pay you, creating a brand new, 1-time only address The difference is: with a master public key, the sender can use it to figure out who else paid money to that address, past and future. With stealth addresses, the sender knows only the address they sent to (or maybe not even that... but you could work it out in any case by looking at which block it was confirmed into and how much the transaction was for) How could the sender figure out who else paid money on that master public key if you created it only for him? The idea would be creating a different mpubkey for each individual. Of course stealth addresses sound really cool and I hope it gets implemented. Right now the anonymity features of BTC are pretty poor and Gmaxwell seems to agree on this too. |
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I don't really have any problems with Gyft supporting Bitcoin instead of eBay directly accepting it. I feel like eBay would just dump any Bitcoin received for fees anyways, just as other large merchants dump all BTC for fiat when they accept if for payments. I feel like Gyft at least holds some of their BTC, and they were an early supporter of Bitcoin so I have no problem supporting them with my BTC. They provide a fair & reliable service and allow you to indirectly spend your Bitcoin at a wide variety of merchants, and give you 3x Gyft points for doing it; I don't see what's not to like about that.
And you definitely can buy pretty much anything on eBay. They are a Huge company though and still can't lower seller fees, which end up being 10-15% after PayPal fees are factored in too. I'd rather see Bitcoin market competitors to eBay like CryptoThrift and OpenBazaar succeed.
**One downside to Gyft that I see though is that they are US-only, or at least they were. It probably doesn't matter much anyways though as I'm pretty sure you can use the Gyft-purchased cards online with most merchants. Still would be nice to see them expand and be able to use purchased cards at brick-and-mortar merchants in other parts of the world.
I just feel more secure with direct BTC usage, controlling my addresses and whatnot, and what you just mentioned. With direct BTC it could be worldwide without distinctions on the fees. |
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" create a financial services platform and money-transfer app that will utilize bitcoin to facilitate transactions" There would be no need for fiat money if this is how bank would go about with their business, if there is no fiat money, then there is no need for banks  this is all part of illegalizing cash.... if you use cash to pay for your stuff then you need to have your picture taken, supply your drivers licences, social security card, the year make and model of the car you are driving with your licence plate number, fingerprints, and your address along with your moms address.. and all telephone numbers, and your information will be submitted to the homeland security to be run background checks through the fbi and the irs, at which point you will be added to "THE DATABASE". It's obvious there is an agenda to get rid of physical cash and do everythingdigitally. In Norway cash is barely used for example. Bitcoin can be a way to stay out of government control. Just because they use the blockchain to deal with their data, that is irrelevant to what you do wit your Bitcoin. |
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Wow! I've only listened to a few minutes and already I hear blatant mis-information which is vastly below Mike's pay-grade. In other words, he knows it's bullshit. The one which triggered my post is that he claims that people on the 'other' side are saying that the block size should remain the same forever.
I have not heard anyone who is vaguely credible make the argument that 1MB has to remain permanent forever with the possible exception of MP. I and almost everyone else on 'my side' of the argument are perfectly amenable to raising the block size limit, but it needs to be done in a careful manner tuned to the problems at hand and at a time when the problems are as well understood as possible. In the mean time, the pressure to come up with more far sighted solutions even if it takes some development effort is a really valuable thing. Sidechain code, for instance, has now been released for alpha and Maxwell's announcement presentation has surprised me in the breadth of technologies which it encompasses.
Clearly Mike is in a full-on panic and the more dubious his utterances become the more credibility he loses. I'm almost ready to count him out at this time but it's often a mistake to do so pre-maturely. I think it very possible that he (and his) will try to torpedo Bitcoin itself rather than walk away empty-handed. I'd to the same if his side got the upper hand.
But we don't know what can happen if we hit the 1MB limit. Do we have enough time to keep studying the subject before we hit said limit? Don't wanna find out the hard way. |
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Mass adoption is happening now, slowly but happening for sure. There is more than 6,500 physical and internet based shops/services who accept bitcoin as payment option. And number raise every day http://coinmap.org/For comparison, there are over 425,000 ATMs in the USA alone. There are millions of businesses in the USA. Put that 6500 in perspective and you can hardly call it "mass adoption". You are right, we can't lose perspective. Anyone that thinks mass adoption is happening "as we speak" is deluded, but make no mistake, all progress is progress, and every year that passes is a positive one adoption wise, people is not leaving Bitcoin, new people are coming, just slowly, because this is still a very early on technology. |
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Shorted 230$
Short closed lol seems a bit pointless, the fees will eat you, did the price even fell below 230? it's 232 now If you are moving a decent amount of money on each trade the fees shouldn't be much a problem with BTC trading unlike regular stocks. |
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Think that governments realize that if transaction fee is the key.
We pay same amount for withdrawal/transfer any amount of BTC same fee.
For money you pay some percentage of amount that you transfer so this is something that they dont want with any digital current.
Fees in the traditional banking system are expected and reasonable, the problem is when those fees are illegal (they have no justification). Bitcoin gives you the edge of low fees by dealing with your money, thats why a lot of people don't want to see fees increased in Bitcoin as some point for that being a potential solution for the blockchain blocksize problem. |
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The losses are definitely bigger. You're borrowing bitcoin to trade. Therefore, if the bitcoin goes down, you need to dip into your pocket to buy back the bitcoin so you can return it.
Yep, you can end up owing money to he exchange (the money the exchange gave you to do the leverage). This is in my opinion nuts unless you want to take a big risk. Poloniex also got margin trading recently (and as a result got kicked by the Fincen to have more a restrict withdrawing policy). |
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Hello, After watching this YouTube video Bitcoin 101 - Modelling the Price of Bitcoin - Is a $100,000 bitcoin possible? https://www.youtube.com/watch?v=g2nXgK34HIMA question has raised a flag in my head. Can Bitcoin surpass Gold ? Could it be used as (Store of Value) instead of Gold in the coming 5 - 10 years ? Is it possible and probable ? Not even 100%, but like 20-50% ? What do you think ? Check this video out. I think it's a realistic approach. I don't see Bitcoin replacing national currencies, but I see it becoming Gold 2.0. The ultimate way to store value on the cloud. As for time required to defeat Gold, I think it will take more than 5 years, but 10 years from now we'll see the first signs of serious amounts of wealth moving from Gold to BTC. |
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I am trying hard to see the point to this, how would $50-$70 be the point of no return and people lose interest you can only speak about your self losing interest, the whales will be back at that price to make more money than they have for awhile and that will give the USD addicts excitment and they will be back at the higher price for a change. Myself I think this would be actually good for bitcoin and the community to go to this point shaking the tree and people who are here for a quick buck will be gone when they have the best chance at making that buck. Bitcoin does not need to keep being tagged to the dollar high or low to be a success or failure imo the sooner people realise this the better. I will be here till the blockchain does its last transaction or until I give my last breath either way the price won't sway me and anyone that it does I'm glad to see you gone rahaha
IMO there is no "point of no return". There is a lot of people waiting at the sidelines to get in, but they don't for a plethora of reasons, mainly a mixture of the uncertainty of the price and not really knowing what Bitcoin is and how does it work. All of those dubious people will eventually make a move and enter the market, which would result in a pump. |
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So, in plain english what is the stealth bip and why should the average non-techie noob like me care? Is is a modification to make bitcoins more anonymous? That is what it sounds like to me but I am not sure.
As I understand it in a basic way, the Stealth Address will help mitigate the problem of address reuse, though this may be an oversimplification of what it does. (One socially meaningful function that people could really appreciate right away is that stealth addresses would likely make a straightforward and guilt-free way for a organization (non-profit for example) to post such an address to receive donations, as they would not then be revealing a bunch of information about the donors [and others in the network] every time someone donates to the organization.) Why should you care? Essentially it's from a privacy angle, as that address reuse is done then this conveys information about you and others in the network. One could measure the extent to which you may be compromising privacy of others in the network based on your actions but without getting into that here, suffice it to say, address reuse isn't that great for the privacy of the network, and if wallets had support for stealth addresses, and if people had the ability to choose to use stealth or not to use it, depending upon their preferences of course, then that would be a good thing. It's actually not what I would call "anonymity" because the use of Stealth as described wouldn't result in anonymity per se (IMHO). I believe it would actually result in enhanced privacy. From the original paper by Peter Todd, "The txin's owned by the payor are not revealed to the payee. In fact, they could be held by a third-party who simply makes a transaction with the appropriate txouts on behalf of the payee. (...) Less information about the txouts is leaked." I don't consider such developments anonymous actually, but it's a pretty good privacy scheme. Here's what I believe to be the first ever successful stealth transaction: https://blockchain.info/tx/63e75e43de21b73d7eb0220ce44dcfa5fc7717a8decebb254b31ef13047fa518Notice that there are things you can see about it. It's certainly not fully anonymous, from my perspective. OK, the final part of your question was, BIP. What is the stealth BIP? That's the Bitcoin Improvement Proposal. Stealth has been suggested to be made as a Bitcoin Improvement Proposal so that this would have support in bitcoin / core. The process lays out ideas that would help improvements happen and the developers vet them. There's a 'readme' that covers that here: https://github.com/bitcoin/bips/blob/master/README.mediawikiRespect, ABISprotocol Correct me if im wrong,but doesn't giving a master public key have the same result? For example, in Electrum, you give someone your master public key so they can pay you, creating a brand new, 1-time only address, which vastly improves anonymity. Of course this Stealh address things seems more convenient than giving away a master public key, but seems to me the result is similar. |
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Where can I read the full history on Gavin's research to change his mind and go from 20 to 8?
Wouldn't this mean that we will need another fork sooner than if we went 20?
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very cool indeed. Is that real?
I have used them before for Amazon rather than ebay. I can therefore say that they work, at least with Amazon. I don't see why ebay would be any different. eBay and PayPal split could be the main reason of eBay's recent BTC move. It is just gift cards available through gyft, I don't see this being an ebay Bitcoin move. It is nice to be able to eBay with BTC being the root of the funds though. It's better than nothing, but I would still like to be able to directly receive BTC from a public master key as a merchant, rather than be dealing with gift cards. It will eventually happen. Just like it should eventually happen with Steam if Gaben wasn't such a stuck up. |
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Yeah it would be pretty much mission impossible to guess the actual criminals after a couple of mixing. You could put the wrong people in jail so it's pointless. Actually after just putting the coins inside a exchange and moving them back it's pretty much impossible, it would a lot of people
I remember the discussion I had with a merchant, who was looking forward to accepting Bitcoins as a mode of payment. He asked me how he could identify the "tainted" coins, and thereby reject the payment. Unfortunately, I didn't knew the answer. I don't know what happened in the end. Probably he shelved the idea, fearing that he will face legal action as a result of getting these tainted coins.  By tainted coins you refer to coins obtained by any frauds, thievery and from black markets? And you were right there is no way to identify these kind of money, but isn't it the same way with normal FIAT? How can you be sure that money you are receiving are not obtained by fraudulent methods? Yes! You can't be sure! So rejecting bitcoin acceptance just because there is possibility of 'tainted coin's is pretty dumb imo. Yeah, ideally, there shouldn't be "tainted" coins, because it breaks fungibility. The origin of the Bitcoins shouldn't matter, otherwise it would be a big mess, but I can understand the concern. This is the problem of a public ledger. |
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Xapo has a long term storage service that they charge their customers for.
That means that in some years we have to pay a storage fee for bitcoins on a wallet like Xapo? Xapo is using extra measures to keep your Bitcoin safe. As far as I remember they are storing your Bitcoin at some underground bunker, which is guarded by real people as well. As a result, you need to pay a fee to keep that going, just like one pays a fee on regular banking to keep your fiat on there. |
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For how long?
For a lot of time. 225 is the new 5. Everyone will start thinking it will never go beyond 5, just like they did with the 5 dollar period. A lot will sell, and once i goes 1500-2000 USD a lot will cry, just like it happened before. Gotta love impatient clueless people. |
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Why would we want to package intellectual capital into a blockchain type transaction? I guess it could reduce instances of hacking a transaction of IP, however once someone has it they're still able to copy it and sell or manipulate it after the transaction is complete. You should share more detail with us on why this would be beneficial, what problem does it solve?
Love the name!
The best way to backup something and store it forever and guarantee it doesn't get modified is by putting it into the blockchain. This is a fact until Maidsafe is operative, then Maidsafe will be the best way (or a good alternative). |
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But mining gold is not a good for our mother earth some mining company abused mining they not follow rules for mining golds they infringed the law and the affected for this mining was our mother earth look earth some calamities was a huge and no mercy calamity its affects people whos not suitable for the punishment of our nature
Mining of gold, if done properly, will not have a huge impact on nature. With advanced technology, it is possible to treat the cyanide waste which is produced as a result. However, the wild-cat mines (such as those in Brazilian and Peruvian Amazon, and Indonesia) dumps huge amounts of mercury in to the ecosystem, and causes deforestation. Gold mining will be eventually banned. One can only mine gold that far, until it becomes a serious geographic problem. I always laugh at the gold people that say "oh, Bitcoin is such a waste of energy and bad for the environment". Lol, how people can say that when mining of gold is a total disaster everytime it happens and it will increasingly get worse. |
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