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15401  Bitcoin / Bitcoin Discussion / Re: Adam Guerbuez claims some very big news is coming for Bitcoin this friday on: January 17, 2015, 11:44:51 AM
guerbuez prolly bought around 150 - 170ish then sold at 220 - 230ish.  not bad.  and good job sir.
15402  Bitcoin / Bitcoin Discussion / Re: Why have a lot of stories claiming the failure of bitcoin such as surface lately on: January 17, 2015, 11:36:10 AM
if it's going up, everyone says it's the next big thing. if it's going down on the ground, everybody loves kicking it even more.  if it goes back up again, everyone will say it's the next big thing again.

15403  Alternate cryptocurrencies / Altcoin Discussion / Re: ABN Amro has no interest in Bitcoin on: January 17, 2015, 11:27:06 AM
i like ripple, and good news (please keep in mind that news is from december 3, 2013).  but let's prevent people from losing any btc and/or fiat because xrp is going down right now.  they will only hate ripple if they lose money.



stay away from xrp for now.
15404  Bitcoin / Bitcoin Discussion / Re: Why Satoshi Nakamoto Remains Anonymous on: January 17, 2015, 11:16:40 AM
Anonymity removes the traceback > mandate completed!!

 yes exactly.
15405  Bitcoin / Bitcoin Discussion / Re: Why Satoshi Nakamoto Remains Anonymous on: January 17, 2015, 11:14:39 AM

satoshi. go buy it.
15406  Bitcoin / Bitcoin Discussion / Re: Why Satoshi Nakamoto Remains Anonymous on: January 17, 2015, 05:36:27 AM
SN is a group of people that started an experiment. they feared what the fed might do to them so they remained anonymous.
15407  Alternate cryptocurrencies / Altcoin Discussion / Re: Trade your nubits to BitUSD on bter.com NOW, before they become worthless! on: January 17, 2015, 05:31:00 AM
Is this real news?
Btw i think its not. Because if they had millions of usd worth of btc dumped on them, then that means people bought nubits. which is good.
i think you are making FUD.

Yep, they had millions worth of BTC dumped on them. That means that when BTC went from 300 to 200, they held BTC and lost hundreds of thousands of dollars in value.

If people try to get out of NuBits now, then they will suddenly find that there is not enough BTC to cover the bought NuBits at this lower price. Suddenly the buy wall will disappear and your NuBits will be worthless. The only way you can have a safe peg is if the collateral is locked on the blockchain where you can see it and evaluate the risk!

I'm absolutely making FUD, yes. But until there is cryptographic proof that NuBits' "trusted" custodians are solvent, then my FUD is true. NuBits is operating as a fractional reserve.

is there proof that they are insolvent tho?
15408  Bitcoin / Bitcoin Discussion / Re: Waste of time on: January 17, 2015, 04:15:40 AM
you guys wanna make me puke..  eeewwww..  uuggghhh... bbrrrrrrwwwwwwaaaaaarrrrhh

15409  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][BURST] Burst | Efficient HDD Mining | New 1.2.0 Automated Transactions on: January 17, 2015, 02:28:33 AM
are there plans for burst devs to make block times shorter?  

edit:  i like what i'm seeing in POC and people will be convinced if block times are only a couple of seconds long. i was wondering if this is possible in POC going forward.

i am actually thinking about instant confirmation regardless of block time. Is that possible ? Burst should lead other coin in terms of innovation. Cutting down block time doesn't seems exciting at all.

imo, with POC, this project and its devs are on to something here.  but what would really help is making transaction times faster, yes. but without sacrificing any risk in security. i was wondering if it was possible moving forward.

also, i noticed other projects seem to add more 'features', when what they should be really doing is go back to something basic like make transactions faster.  people seem to underestimate the power of speed of transactions in crypto.
15410  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][BURST] Burst | Efficient HDD Mining | New 1.2.0 Automated Transactions on: January 17, 2015, 01:51:39 AM
are there plans for burst devs to make block times shorter?  

edit:  i like what i'm seeing in POC and people will be convinced if block times are only a couple of seconds long. i was wondering if this is possible in POC going forward.
15411  Economy / Speculation / Re: Did you make money from the falling bitcoin price yesterday on: January 16, 2015, 03:06:14 AM
Yesterday was a huge day for traders, with many making a lot of money by going short on the bitcoin price and the leveraging to maximise their profits.

We saw a spike in trade volume on the Coinarch website.


Many may have made money shorting Bitcoin, but many made money (myself included) buying at the low prices and banking on a rise.

could be a dead cat bounce tho.  be careful btc hasn't stopped going down since the 1st quarter of 2014.  there were blips and signs of reversals, but still continued going down after.  

15412  Bitcoin / Bitcoin Discussion / Re: What the next step should be. My 2c. on: January 16, 2015, 02:52:23 AM

but the idea is it should be taking after the ideals of crypto.  like how btc started.. from the grass roots.

Who cares what ideals it takes after?  What if it just works really well and kicks ass? 

by work, you mean no counterparty risk and single point of failure, then yes that would kick ass.
15413  Economy / Speculation / Re: Did you make money from the falling bitcoin price yesterday on: January 16, 2015, 02:42:57 AM
still holding fiat from btc sales  at +300.  also holding nubits.
15414  Economy / Service Discussion / Re: Oh boy - I think this is going to be big... Tether on Bitfinex on: January 16, 2015, 02:22:28 AM
Nope.  Just administration of the guarantee (the backing).  Everything else is decentralized.  The token still trades without interference from a central authority.  But unlike bitcoin which has nothing backing it, Tether will have a pot of cash stashed away (with an administrator - hopefully trusted.)  The admin won't be able to manipulate the token.  The high level of auditing will assure the backing is well cared for.

looks good. but how is this different from say ripple and its gateway system?  that could work pretty well enough if you accept tether as a good solution.  

maybe what we need is something like nubits or bit.USD (afaik these two dont have counter party risk), but with a different implementation.  

all in all, a pegged bit.FIAT could be the future.  
15415  Economy / Service Discussion / Re: Oh boy - I think this is going to be big... Tether on Bitfinex on: January 16, 2015, 01:06:29 AM
is it open source?  if bitfinex goes down, will tether be able to continue?
15416  Bitcoin / Bitcoin Discussion / Re: What the next step should be. My 2c. on: January 16, 2015, 01:04:36 AM
I think what we need is a true decentralized exchange all dealing with a decentralized, pegged bit.USD (or any fiat) implementation. Something that the govt. would need to shut the internet down to stop its services.

Save us Cody Wilson, Amir Taaki, Peter Todd.
Tether is now live on bitfinex and traded via true decentralized exchange.  Exactly what you describe.  Go look at Tether/Omni

i'll read into it.

but the idea is it should be taking after the ideals of crypto.  like how btc started.. from the grass roots.

15417  Bitcoin / Bitcoin Discussion / Re: What the next step should be. My 2c. on: January 16, 2015, 12:43:02 AM
bitUSD already exists Smiley

it does yes.  but implementation is key.  people seem to question it.
15418  Bitcoin / Bitcoin Discussion / What the next step should be. My 2c. on: January 16, 2015, 12:39:21 AM
I think what we need is a true decentralized exchange all dealing with a decentralized, pegged bit.USD (or any fiat) implementation. Something that the govt. would need to shut the internet down to stop its services.

Save us Cody Wilson, Amir Taaki, Peter Todd.
15419  Bitcoin / Bitcoin Discussion / Re: Mt Gox CEO Mark Karpeles Implicated in Silk Road Trial on: January 16, 2015, 12:33:51 AM
Most of the big exchangers are the same. That's why they will be closed. The ones from USA like BitPay and Coinbase very soon.
So do you know Tony? He's a great guy and a savvy businessman. And have you been out to SF to see Coinbase. Great location huh?
Now why would these successful companies close? They have tens of thousands of happy customers.  
Because they are ALL outlaw. they are not MSB as it is required.
I mean, other "stupids" must be registered as MSB by paying bonds, taxes, audits, waiting for months to get the license and some "smart and great guys" like this "Tony", NOT.
According to the FINCEN:
" a person that creates units of convertible virtual currency and sells those units to another person for real currency or its equivalent is engaged in transmission to another location and is a money transmitter. In addition, a person is an exchanger and a money transmitter if the person accepts such de-centralized convertible virtual currency from one person and transmits it to another person as part of the acceptance and transfer of currency, funds, or other value that substitutes for currency."
It's just a matter of time until all the so called exchangers will be closed.
SilkRoad had thousands of happy customers too. Does it matter? They are behind the bars now.
Do you remember Bitinstant? Bitinstant owner (Charlie Shrem ) pleads guilty to operating unlicensed money transmitting business. Do you want more examples?
What is the difference between BitInstant and Coinbase, Bitpay, Kraken? NONE !

Coinbase follows KYC rules of being a money transmitter whether it applies to them or not.  Bitinstant made the mistake of linking to silkroad.  You ask whats the difference?  Evidently alot which includes a court case and jail time.

Being licensed means that you, as company is supervised by a gov authority. You have to respect MANY aspects as being financial institution.

 You can have as many KYC rules you want. If you are NOT licensed as MSB, you  will be arrested sooner or later.

There XXXX examples of people who received jail sentence for Unlicensed Money Transmitters.

BUT being MSB, you cannot deal with anonymous systems/transactions like Bitcoin. This is the law.

Remember, Bitinstant owner, Bitcoin Foundation's member (Charlie Shrem ) was arrested and HE pleads guilty to operating unlicensed money transmitting business. He will be in jail for 2 years.

How is Coinbase, Kraken or Bitstamp different than Bitinstant? There are NOT so they are facing the same faith.


i think what we need is a true decentralized exchange all dealing with a decentralized, pegged bit.USD (or any fiat) implementation. something that the govt. would need to shut the internet down to stop its services.

save us cody wilson, amir taaki, peter todd.
15420  Bitcoin / Bitcoin Discussion / Re: I want to Buy beer with my bitcoins but... on: January 16, 2015, 12:26:22 AM
You are clearly trolling about the block confirmation time. However merchants selling items priced as low as a single beer should have no issues accepting 0/unconfirmed transactions as the cost to pull off a double spend attack would be greater then the cost of the goods you would be stealing.

As a result you would not need to wait 10 minutes to buy a beer

i wanted him to troll some more.  it is actually an opportunity to advertise the projects you like by talking about it with the trolls.  Grin


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