You have any kind of proof that now it's worse than it used to be?
Personally yes, I am 53 years old and had never been arrested until now. I do remember the time before the massive use of civil asset forfeiture was used to bypass the constitutionally mandated checks and balances between the branches of government and used to self fund the current police state. I do remember the time when a person had to be charged and convicted of a crime before the goverment could seize your assets. Now they just seize your assets and charge the assets with the crime and it is up to you to prove that your assets did not commit the crime. Sure this procedure started all the way back in the 1920s but it has not been until the last few years that it has been done to the tune of billions of dollars per year. I do remember the time before citizens united totally destroyed the democratic process in this country. I do remember the time before 9/11, the time before marshal law was declared and implemented (patriot act). I do remember the time before the implementation of the "homeland security" state. I do remember the time before the police killed an average of one citizen per day. I do remember the time before police used military equipment, clothing and techniques. For my case see www.burtw.com and www.jmwagner.comIn summary: I was accused of "selling Bitcoins without a license", a few days in solitary confinement and $300,000 later, including a blatant $80,000 extortion payment directly to the United States asset forfeiture fund and I am a "free" but broke man. Just a few years ago the government would have simply sent me a letter telling me to get a license. End of story. But today, with the push to self fund their police state, instead they charge me with a felony that carries a five year prison sentence, take all my property and charge it with crimes, all in order take by force or force me to give up cash and Bitcoins directly to them. So, you are totally wrong. Things have gotten much much worse in my lifetime. It is not an illusion. You are dead wrong. |
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People don't blame a nation which is the best place in the world to live and to work. The country of the freedom and the justice. Every country of the world have problems. But in no country of the world cannot be find the right and the wrong like in USA and in no country in the world like in USA can be punished the wrong and valuated the right.
Cannot be defined a country from a case; every kind of case can be that.
I assume English is your second language so I will cut you some slack on that. This is not an "isolated case". This country used to be the country of freedom and justice, it no longer is. This is an obvious case of cops being trained to police for profit. It would not surprise me in the least if this was not some new training coming from Desert Snow (Please read this. Long but very informative.). If they can find anything on you or the car they get to keep the car so they will go to any measures to find the pot, cash or whatever in order to seize the car. |
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1. If the whole network consumes more than 2% of the world's power consumption, then you are asking for more demand of resources which is not feasible for the whole world itself. That's why power-efficient yet powerful chips should be invented as difficulty goes up so as to go on par with the current power consumption of the network.
As I have explained many times efficiency does not enter into the equation. More efficient chips only means that there will be more hashes per second for a given energy consumption. Energy consumption is proportional to price. Efficiency does not matter. |
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So many weak minded people lost tons of money on bitcoin in 2014 because they didn't listen to me and riiiising. If you had parked your assets in stocks, bonds, and real estates like I warned, you'd be up probably 10% or more by now. Many maroons in here.
maroons? |
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Could you elaborate more on this please.
Thank you.
We cannot/do not want to get to $500,000 per BTC any time soon. Here is the math behind it: https://bitcointalk.org/index.php?topic=694401.0If BTC were to go to $500,000 in this era it would cause a catastrophic mining bubble: $500,000 x 25 = $12,500,000 per block = $75,000,000 per hour $75 million per hour would drive the mining to attempt to use 675 GW. This is about 30% of all the power generated on the planet. So, in order to keep our power consumption under about 2% of world wide power production, we cannot/do not want the price to get to $500,000 before era 6, which is about 2033 or so. Using my previously derived formula for the power consumption: P = (6(50/2 e) + f)(x)(1 - g)/c [kW] where: x = exchange rate [USD/BTC] e = era [0..32] (we are currently in era 1) f = average fees per hour [BTC/hour] c = cost of energy [USD/kWh] g = average gross profit margin [unitless ratio] we can look at the power consumption in each era assuming a price of $500,000 per BTC. In order to make it simple I will make the following assumptions: x = $500,000 per BTC f = fees per hour will keep the coinbase above 6 BTC/hour (1 BTC/block) in all eras c = $0.10 per kWh g = 0.1 miner gross profit margin Original target Subsidy Est Fees Power % of total world
Era starting year BTC/block BTC/hour GW power production
--- --------------- ----------- ---------- ----- ----------------
0 2009 50.00000000 0.00000000 1,350 58.41%
1 2013 25.00000000 0.00000000 675 29.20%
2 2017 12.50000000 0.00000000 337 14.60%
3 2021 6.25000000 0.00000000 169 7.30%
4 2025 3.12500000 0.00000000 84 3.65%
5 2029 1.56250000 0.00000000 42 1.83%
6 2033 0.78125000 1.31250000 27 1.17%
7 2037 0.39062500 3.65625000 27 1.17%
8 2041 0.19531250 4.82812500 27 1.17%
9 2045 0.09765625 5.41406250 27 1.17%
See also: https://bitcointalk.org/index.php?topic=720179.msg8135893#msg8135893https://bitcointalk.org/index.php?topic=720179.msg8141569#msg8141569https://bitcointalk.org/index.php?topic=720179.msg8168414#msg8168414https://bitcointalk.org/index.php?topic=720179.msg8206075#msg8206075and https://bitcointalk.org/index.php?topic=694401.0 |
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man you are not understanding, if they confiscate my smarthphone or whatever, i can still fire up my client at home and run that(and they surely can't confiscate every desktop out there), burst is doing the same right now, there is really nothing they can't do about bitcoin, bannig bitcoin is pointless for every point of view, and they know that, that's why russia returned to where they started, by removing the "ban"
When they arrested me they immediately took my phone and would not let me touch it. I thought - no problem. Then they took every single one of my personal computers and all of my corporate computers. I thought - no problem. Then 35 agents searched my home and my office and took everything they could find related to Bitcoins. I thought - no problem. Then they broke into my safe and took everything. I thought - no problem. Then they found the seed words for my Trezor, and immediately transferred all of my Bitcoins from my Trezor to theirs. So, you can say I made a mistake and did not hide my seed well enough, but that does not matter. Your ability to keep your seeds, passwords, pass phrases etc. from the government is only equal to your ability to live in jail, in solitary confinement, until you give them up.Talk big about being able to handle it until it happens to you - then we will see. I was only in there for three days and two nights. I cried like a baby when I was released I was so happy. they can't do shit, besides arresting me, because i can still use it at home, they need to ban desktop too if they one to stop bitcoin, no-sense actually, it's impossible
You are right, all they can do is arrest you, charge you, take everything they can get their hands on and then charge all your stuff. If you have the funds to fight it you can "win" and be broke like me or if you do not have the funds you can rot in jail and get a public defender who works for them, does not know shit and is not there to help you defend yourself - only there to make sure the prosecutor does not screw up and make any mistakes that you could appeal. More here: www.jmwagner.com and www.burtw.com if you are interested. |
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Wooww it's so amazing! How does it work? I think trezor is best wallet apps with the best transcaction. I decided to get my experience wirh trezor, it is cool right?
Trezor is a great wallet. I especially like the fact you can reconstruct your entire account and transaction history from the 24 word seed. This makes backups easy (not needed). I gave my parent's a Trezor to keep their Bitcoins. Safe, secure, easy. |
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3% of power production ($50,000 per BTC) is within the realm of possibility but I do not think $500,000 per BTC (30%) is.
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Wow that is really insane.. When reading about this I am so happy I do not live in the USA with their patriot act shit..
For those that might be country shopping, what country do you live in? Does your government condone civil asset forfeitures? Does it allow US homeland security and FBI to raid citizens in your country - like New Zealand did/does? |
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All are my estimates: $500,000 in this era -> 30% of all electricity produced. $50,000 in this era -> 3% of all electricity produced. So, in order to keep our power consumption under about 2% of world wide power production, we cannot/do not want the price to get to $500,000 before era 6, which is about 2033 or so. Also true. |
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Interesting , It's probably possible to reach that price 50,000$ however we need to know when , when is what matters to be honest .
Because if it takes too long then 50000$ won't worth anything by that time and it would be useless .
$50,000 in this era would cause the mining to attempt to consume about 3% of all the electricity produced on the planet. So, I think not. Maybe in the next era or the one after that. You can see my calculations a few pages back, here: https://bitcointalk.org/index.php?topic=720179.msg8135635#msg8135635 |
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Sorry - lot of questions but need to figure out all the pros/cons and potential issues.
can anybody answer some/all these questions from experience - i.e. from actually doing it?
Thanks - usukan
I have tried entering the 24 word key into another BIP32 compliant wallet (I used Wallet32 for Android, but any compliant wallet will do) and recovered the entire wallet, all accounts, all transactions - that is how it is designed. That is the beauty of BIP32: with just the 24 words + the password you can recover everything. With the same 24 words + your second password you can recovery everything under that password, and so on for as many different passwords as you want. When I say everything I mean all accounts and all transactions generated from that 24 word + password combination. FYI the PIN number is a Trezor specific thing and is not needed for recovery. If you lose your Trezor you just buy another one and enter your same 24 words and you are back up and running OR just enter your 24 words into another compliant wallet. I think a lot of your questions are answered back a few pages. Start here: https://bitcointalk.org/index.php?topic=122438.msg11672036#msg11672036 |
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I did a lot of trading on localbitcoins and never had any issues with being robbed at gun point. However, it turned out that some of the people I was trading with were undercover federal confidential informants who video taped and audio taped our transactions. Then homeland security used this flimsy evidence to claim that I was "operating a business without a license". Believe it or not, operating a business without a license is a felony, punishable by up to 5 years in prison and the belief that I might have been doing that was enough to send 35 or so agents to break into my house, search it from top to bottom and take all my Bitcoins. So, there is your real threat. Don't worry about the small time thief, worry about the big time civil asset forfeiture thief. www.jmwagner.com www.burtw.comthis was done in real life right i mean your trading? if it was done online it would be the same thing happened? i can't explain why it happened to you only, there are plenty of traders that trade in real life using bitcoin without any licence, even here on the forum there is plenty of these guy Yes all my trading was done face-to-face, cash only (to eliminate charge back scams). Theoretically, online transactions might make you look even more like a business to them. The weekend they arrested me they also arrested a few others. The whole thing was called "operation avalanche". My attorney immediately asked to see the sealed grand jury testimony that was used in all the indictments. But they refused to give it to us - a post 9/11 patriot act (marshal law) privilege they now think they have. It cost me a lot of my life savings ($284,373.00) to clear my name and avoid jail and we are in debt now because of this. Because of the high cost of defending a federal felony case most people just take a plea deal to get it over with. I was first offered a "lessor felony", said no, then offered a misdemeanor, said no, finally ended up having to pay them about $80,000 in cash and Bitcoin in order to get them to drop both the criminal case against me and the civil case against all my stuff they seized. This was a "steal" because going to trial on the criminal case was going to cost me up to $100,000 and the civil case another $50,000 to $80,000 and you cannot trust committees of people who are not smart enough to get out of jury duty to do the right thing - in other words I might have lost. Anyway, because we are not going to trial we never get to see whatever fabrication, lies, half truths, innuendo, or maybe even some actual evidence were used in the grand jury testimony in order to get the indictments against me and all the others. So, I do not know and will never know exactly why they spent millions on their case against me - but I have my theories and educated guesses. |
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Great first post. I love your enthusiasm. Reminds me of me when I first found out about Bitcoin. You brightened my day. Thanks.
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0.00000001 was sent to the address in the first transaction and then 0.00000001 was spent from the address in the second transaction. Can you be more specific about your question? |
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Thank you for bringing this to my attention. I will research it and get back to you.
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I did a lot of trading on localbitcoins and never had any issues with being robbed at gun point. However, it turned out that some of the people I was trading with were undercover federal confidential informants who video taped and audio taped our transactions. Then homeland security used this flimsy evidence to claim that I was "operating a business without a license". Believe it or not, operating a business without a license is a felony, punishable by up to 5 years in prison and the belief that I might have been doing that was enough to send 35 or so agents to break into my house, search it from top to bottom and take all my Bitcoins. So, there is your real threat. Don't worry about the small time thief, worry about the big time civil asset forfeiture thief. www.jmwagner.com www.burtw.com |
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Got (most of) my Bitcoins back from Homeland Security. I would be happy with just $1,000 per BTC so I could pay all my legal fees and still have some left over.
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