Can someone pls explain how this authentification system is installed?
Google search only shows that it s an authentification system to access your google mailbox.
No info on how it relates to other sites like bitcoin-central etc
I dont use mtgox
You have to see if your Wallet provider supports Google Authenticator. mtgox does. From Google Play (App store) download/install Google Authenticator on your mobile. It works similar to a secureID which adds another layer of security, so after login to your mtgox account as an example, it asks for the code that is displayed on Google Authenticator, a code that changes every 30 or 60 seconds. Ok thx works now! |
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Can someone pls explain how this authentification system is installed?
Google search only shows that it s an authentification system to access your google mailbox.
No info on how it relates to other sites like bitcoin-central etc
I dont use mtgox
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Hi
I d like to secure my btc account.
Saw this "google" feature on the site but unfortunately
there's no tutorial or explanations about how it works on bitcoin central.
Could someone pls explain how this works?
Do I need a google email adress for this feature?
Regards
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Bonjour
j aimerais securiser mon compte
il n y a pas d infos sur le fonctionnement de google authenticator.
Comment cela fonctionne t il? Faut il une adresse email google pour l utiliser?
cdlt
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Some people have accused short sellers of 'destroying value' before, so I misread the two posts above this one, LOL.
Are you referring to manipulation of the silver and gold "paper" market by the big bullion banks? That's what makes me think that if shorting bitcoins is made possible, manipulation could be possible.. |
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If you have bitcoin loans then you de facto have bitcoin short positions. Investment sites that allow you to short by checking the box for 'short sell' rather than 'buy' is just a convenience.
The mechanism for short selling is to get a loan for say, 10 BTC, then use that to buy cash (say, $650 USD today), then when it's time to pay back the loan you buy 10 BTC at current market rates to pay back the loan. If you pay the loan back a month from now and the price has dropped by $10 per BTC, then it would cost $550 to buy 10 BTC to pay back the loan, earning you $100 USD.
Of course, you have an interest rate on a loan, so if your interest rate on the 10 BTC is, say, 1% then you have to pay back 10.01 BTC, which would eat into your profits from a short position. You want to take this into account when timing your purchase of BTC to cover your short position. If a lot of people start to think that BTC is going to go down in value then demand for short positions will increase, which will increase the demand for BTC loans, which will increase the short term loan interest rate.
How many services are there for BTC loans? In aggregate, how much BTC credit is really out there? If there isn't much BTC credit out there and short selling picks up then it would be very profitable to be a seller of BTC credit, because as demand increases so do interest rates.
Great response. Thanks |
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Getting my account validated at BTC central seems to be difficult and slow.
Gonna try litecoin
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Hey, a central bank's not getting mine!
Right. Since BTC is deflationary fractional, reducing BTC in circulation is not really an issue. And if volatility is intentionally increased, it could be exploited by buying the dips I suppose |
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21,000,000 x 8 decimal places.  It's a deflationary fractional currency. 21,000,000.00000001 BTC I see. Could a large financial institution discourage owning BTC simply by making it insanely volatile? (Purchasing huge amounts then dumping them all etc..) Depends upon how much money that they were willing to lose. People would be buying the dips? |
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21,000,000 x 8 decimal places. It's a deflationary fractional currency. 21,000,000.00000001 BTC I see. Could a large financial institution discourage owning BTC simply by making it insanely volatile? (Purchasing huge amounts then dumping them all etc..) |
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That would be awesome.
Because yours would be worth more? But wouldnt the liquidity suffer tremendously? |
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Hi
I m trying to figure out how safe bitcoin is as an investment.
I found out that there are approx 11 million bitcoins in circulation.
Couldnt a central bank just purchase most of them and simply destroy them?
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Thanks for the help.  I m starting to understand |
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bump |
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Thanks for the replies I m gonna use the Armory offline wallet. I bought a cheap Asus eeepc exclusively for bitcoins. A few more questions if you dont mind: It is possible to never connect the offline laptop to the internet? If not, How do I update win7 on it by the offline PC? I d have to connect it to the internet for that.  Do I need to update win7 at all? What about the bitcoin armory client? Needs updates? Do you put these updates on a USB drive and update from it? Where do I purchase my bitcoins without compromising the security of this Armory setup? Is bitcoin central ok? Regards, |
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Hi I need some help getting started. I read the tutorial for securing one's bitcoins on an image on a usb drive..(something like that) That tutorial was total gibberish to me. Unfortunately. I m wondering whether it would be possible to proceed as follows: I m thinking of using 2 laptops laptop1 :Connected to the internet. Has Bitcoin client installed on it. Used to send /receive bitcoins but NOT to store them. laptop2 :Used for storing bitcoins. Never connected to the internet for security reasons The bitcoins are transfered from this laptop to a USB drive and then trasfered to laptop 1 for online bitcoin transaction. This would actually make some sense to me.. Thanks in advance.. Regards |
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