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The video of this interview is on the 8th page of "Popular videos around the Web" in the Science & Technology section on youtube!
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Protestors mainly piss me off because the vast majority of them are uneducated (mainly not their fault) and ignorant or simply too lazy to educate themselves(again, mainly not their fault) to actually ask the right questions and get to the root of the problems they protest. And to top it off they usually demand more of what caused all the problems in the first place.
I don't agree with beating them or anyone else for that matter unless they're destroying property but I have almost no sympathy with them and would never join them myself.
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I think he is full of BS and will never pay back. Effect on price should be minimal till some serious amounts are payed back and verified.
+1 |
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Ok chrisrico, that sounds very good but I have two questions:
- can I import the watch only wallet into blockchain.info wallet and generate new addresses there or does it have to be the satoshi client?
- can I send from those addresses without having to download the blockchain - I don't want the blockchain on my laptop at any point if at all possible?
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These are my conditions:
-I want it in a digital form, preferably on an encrypted USB stick
-I want to be able to use it with my primary and only laptop (needing to reboot my laptop is fine)
-I want to be able to at least send myself an email with an address where to send the coins to and be safe doing so or use some other way of copy/paste
-I want to spend from my savings wallet without having to download the blockchain
Does having a liveCD linux on a USB with armory meet all these conditions?
Btw I'll pay up to $15 worth of BTC for a plug&play version of this and I'm sure I'm not the only one. |
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I'm no expert, but just spent a good chunk of time researching this.
Here's the options recommended elsewhere...
You can setup a bootable USB drive. The OS commonly recommended was Ubuntu. Then boot to that drive. Use exclusively for Bitcoin transactions and that's it.
Then for savings....
After looking at everything I feel your best bet is still the paper wallet approach. However you don't have to store the paper. You can create screen captures of the private keys (or cut and pastes) and store them in a truecrypt vault. And then store that vault in the cloud. Be sure though when you create the paper wallet your computer is clean (this might be where having that bootable USB comes in very handy).
To import the private keys I tested MultiBit. Using Mac Texedit.app I simply edited an exported private key file, then imported it back into MultiBit. It seems to work and wasn't too much of a hassle for a long-term savings wallet.
This actually sounds decent.. And yes keyloging is mainly what I want to protect against, I already secured everything with passwords.. |
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These are my conditions:
-I want it in a digital form, preferably on an encrypted USB stick
-I want to be able to use it with my primary and only laptop (needing to reboot my laptop is fine)
-I want to be able to at least send myself an email with an address where to send the coins to and be safe doing so or use some other way of copy/paste
-I want to spend from my savings wallet without having to download the blockchain
Does having a liveCD linux on a USB with armory meet all these conditions?
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Well I finally became a bit security conscious and have searched for anything I can find about how to create a secure savings wallet and I really don't like any of the answers available.
I don't like paper wallets because I don't want to print anything on a paper and I don't like liveCDs because I don't want to download the entire blockchain every time I want to spend from my savings wallet I also don't like a brainwallet because it exposes me to the risk of being robbed while entering my pass phrase when trying to spend from it.
Is there really no option to simply have a USB drive that I can pop in, before doing so restart my laptop, boot the USB and have a ready to go client and wallet with a connection ready and free of any worry of getting hacked?
These are my conditions for what I'd like to use:
-I want it in a digital form, preferably on an encrypted USB stick
-I want to be able to use it with my primary and only laptop (needing to reboot my laptop is fine)
-I want to be able to at least send myself an email with an address where to send the coins to and be safe doing so or use some other way of copy/paste
-I want to spend from my savings wallet without having to download the blockchain
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Hey piuk I have a question.. Can the backup that was sent to my email be decrypted by simply using my password only even if I have sms two factor authentication enabled?
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You can send the backup to a gmail account with two factor authentication enabled.
Are gmail accounts encrypted so google can't see inside? |
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No because wallets are stored encrypted and so he can't see which addresses belong to them. |
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Buy half in a way that is as under the radar as possible...do some p2p buys with cash, hit the smaller exchanges, do some trading on mtGox catching any downward pressure.
Then take another million and jump on mtGox with it. Create a huge million dollar bid wall and spread the word that you are buying a buttload.
You will get a good rally going with your first $400k then start to remove some of your bids with the rest of the $500k as the market takes over the rally.
You were close but what you say doesn't make a hole lot of sense. Here's the thing, there are two goals one might have: 1) get $1 million dollars worth of value into BTC and hold BTC 2) pay someone BTC worth $1million dollars and have no intention of holding any value in BTC As you can perhaps already see my point the best strategy to accomplish either of these two very different goals are also very different. With the first goal you'd want to pursue any strategy that would conceal as long as possible from the market the fact of your demand whether it be cost averaging or going to smaller markets first. With the second goal after you exchanged some bitcoins you actually want to spark a huge rally because you just want to pay someone an amount of BTC worth $1 million which can be any amount of BTC so the best strategy would be to buy as few as possible as openly as possible and flaunt your extra demand as much as possible in order to spark the biggest rally possible. With a strong enough rally you might not even need to spend half a million in order to pay someone a $1 million worth of Bitcoins. |
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Does it really work that way? Is the backup only encrypted by my password?
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I wonder if James had his epiphany yet about Bitcoin or if he will repeat the same nonsense "it's digital ultimate fiat bla bla bla"
Well, by definition, it cannot be fiat money if it is voluntary. "Fiat" indicates a government mandate, decree or command... in short: force. As is the case with legal tender laws. As in "fiat lux" = "Let there be light" (by divine will...). It implies that governments have the power to make something just by their almighty say-so. It's almost a flashback to the divine rights of kings. fi·at [fee-aht, -at; fahy-uht, -at]
noun
1. an authoritative decree, sanction, or order: a royal fiat. Synonyms: authorization, directive, ruling, mandate, diktat, ukase.
2.a fixed form of words containing the word fiat, by which a person in authority gives sanction, or authorization.
3.an arbitrary decree or pronouncement, especially by a person or group of persons having absolute authority to enforce it: The king ruled by fiat. It always amazes me how many people who claim to "know money" have not yet learned the real meaning of fiat: value by decree. It's fine if someone wants to say Bitcoin is "not backed by anything" (intelligent people can argue this both ways)... but it is inaccurate to say it is "fiat." There is another interpretation of "fiat = let it be" where it doesn't mean a decree but rather just that it was created out of thin air, you know like how the fairly tale about god creating stuff goes where he supposedly said: "Let there be light." and there was light and it was good bla bla bla... But yeah I too understand fiat to mean by a decree rather than being created out of nothing. I think it's important to emphasize the better definition - fiat meaning "by decree." It's a very important term in that sense, to understand a money having value by force. If we want to make a new term to describe money that is "backed by nothing" then we can do so (though I'll argue gold will fall in that category as well  ) I 100% agree with everything you said, the gold part too |
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At first yes you are right, those of us right now holding a good chunk of coins would become quite a bit wealthier as new value is transferred into bitcoins but in the long run it would lessen this imbalance because there is no vehicle by which we can maintain this wealth other than saving or producing something of value. When we start spending and buying goods and services which are our real ends and not money.. Then our wallets will slowly start to shrink while other people, mainly those who produce something of value, will add to their wallets and since no one can be robbed through monetary inflation everyone would benefit.
It's a paradigm shift. There's going to be a huge transfer of value from those who hold a bad money to those who hold a good but that's a good thing because a good money encourages the best behaviors one can hope if ones goal is to live in a prosperous and free society.
Most of the "new value" you mention is actually "old value" to a "new currency". And you are right, no one can be robbed through monetary inflation (then again, this is totally untrue, $30 to $2 anyone???)--they will be robbed via monetary deflation. There is no monetary deflation in Bitcoin - except of course if you lose your coins. But how can losing bitcoins be theft? |
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So we will never see an equal distribution of bitcoin.
Why on Earth would we want that? |
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The world financial economy and the world tangible economy are 2 real different things. There is a reason if the USD economy is orders of magnitude bigger than the others. Just saying.
Anyway, I don't see why it couldn't happen in 100 years.
Apple shares grow 1000 times in 10 years.
Yeah, they were early adopters... And that's why i'm critical of bitcoin when it comes to this. This small community already owns almost half of the possible bitcoins.And due to deflation everyone is much more greedy than normally. How the hell will 99.99999% of the world (almost everyone) agree on using what's left (about half) of the total amount of bitcoin. Wouldn't that create a much much worse imbalance then is already there in the world? At first yes you are right, those of us right now holding a good chunk of coins would become quite a bit wealthier as new value is transferred into bitcoins but in the long run it would lessen this imbalance because there is no vehicle by which we can maintain this wealth other than saving or producing something of value. When we start spending and buying goods and services which are our real ends and not money.. Then our wallets will slowly start to shrink while other people, mainly those who produce something of value, will add to their wallets and since no one can be robbed through monetary inflation everyone would benefit. It's a paradigm shift. There's going to be a huge transfer of value from those who hold a bad money to those who hold a good but that's a good thing because a good money encourages the best behaviors one can hope if ones goal is to live in a prosperous and free society. |
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Very secure, I'd venture to say it's as secure as an ewallet can possibly be.
Your wallet is stored encrypted, it's only decrypted on your computer and never leaves it in such a form, you can email yourself a backup copy with 1 click and you can use two factor authentication and a javascript verifier.
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