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1741  Bitcoin / Bitcoin Discussion / Re: Mining pools are decentralizing on: August 08, 2012, 04:13:01 PM
There is lots of fluctuation in hash rates. The 4-day average still supports Erik's point.

http://blockchain.info/pools?timespan=4days

1742  Bitcoin / Bitcoin Discussion / Re: Why we need Bitcoins for international transactions on: August 08, 2012, 04:07:40 PM
The title asks a question. All the sorry discussion in this thread answers it. Now we need to move from "why?" to "how?".
1743  Economy / Speculation / Re: Total Fiat in the Exchanges on: August 08, 2012, 01:36:58 AM
It gives an idea as to how much money is waiting on the exchanges not in the buy order book that is waiting to flow into bitcoin.

THAT'S WHY!

I see. There is the easy way, and the samurai way. The easy way is to ask the exchanges politely to publish compounded data.
The samurai way cannot be discussed in public, plus the samurai would keep the answer for themselves.

I kind of think that they can't disclose that information publicly.



Why not? They disclose lots of other things. Publishing a current total of funds held would in no way expose personal information on individuals. Also, publishing makes it public, so there is no unfair advantage to anyone.
1744  Bitcoin / Bitcoin Discussion / Re: Could you live off your Bitcoins? on: August 08, 2012, 12:22:46 AM
No.

There are really two very different options under "yes" -

1. Living off of bitcoin-related income (three or four top-volume exchanges, SR and SR sellers, few of the payment services maybe). This really means living off of your work that happens to involve Bitcoin one way or another.

2. Living off of your btc savings, assuming you mined them or bought them bravely at a fraction of today's value. If you are not in this category, but hope to be in the future, you've got to ask yourself where this value will come from. Seriously, the only way is to work hard on making Bitcoin useful and accepted. Otherwise your investment will be worthless.
1745  Economy / Speculation / Re: Total Fiat in the Exchanges on: August 07, 2012, 11:45:47 PM
It gives an idea as to how much money is waiting on the exchanges not in the buy order book that is waiting to flow into bitcoin.

THAT'S WHY!

I see. There is the easy way, and the samurai way. The easy way is to ask the exchanges politely to publish compounded data.
The samurai way cannot be discussed in public, plus the samurai would keep the answer for themselves.
1746  Economy / Speculation / Re: Total Fiat in the Exchanges on: August 07, 2012, 10:37:05 PM
Why?
1747  Economy / Speculation / Re: Best Time To Sell In Over A Year on: August 07, 2012, 10:35:57 PM
I can't wait for it to punch $30, screw around for a month at $35 then go towards $40's. Perhaps then all the bubble idiots will shut their pie-holes. Hell, they don't even know the definition of one - not that we haven't tried to educate them, of course.

I am not a trader. Here is my uneducated attempt: a bubble is the increase in price of an asset caused mainly by the demand due to expected continuing increase in price. Good enough?

From what I see, these things only make sense in retrospect, or with the help of insider information. You are brave to make predictions, although that's easy without providing a time frame.

As far as I am concerned, yes, this is a good time to sell because I bought them and mined them cheaper. If the price next week shoots up or drops down, I won't play captain hindsight with "should've" or "told you so" - my decission to sell was good, and based on what I knew for sure.
1748  Economy / Speculation / Re: CPI for Bitcoin on: August 07, 2012, 10:20:31 PM
If and when it becomes widely adopted for merchandise, yes. There are many uses of Bitcoin which would not be reflected in CPI, though - store of value and online tipping, for example.
1749  Economy / Speculation / Re: pension fund or not ? on: August 07, 2012, 07:55:03 PM
Buy X amount every month. By the time pension comes it could be pretty nice savings jar


unless bitcoin prices shoot up 1000x of what they're worth now, 50 BTC won't cut it. and if it does, who knows how much of it inflation will eat up
We know exactly how much of it inflation will eat up - it's hard-coded into the protocol.

In my most optimistic estimates, bitcoin will be valued at few thousand 2012 USD, so my current opinion is that BTC50 will not do the job, no matter what. Besides, why would anyone put all their retirement savings into a single asset?
1750  Bitcoin / Bitcoin Discussion / Re: I just made my first Bitcoin ATM withdrawal... 3BTC from my printer. on: August 07, 2012, 07:43:21 PM
I'm starting to warm up to this. I apologize if kicking at an open door, but private key can in principle be encrypted, and POS infrastructure could be decrypting it, right? The system could be assymetric and involve public key and denomination as seed/salt...? (Haven't thought this through at all)
1751  Bitcoin / Bitcoin Discussion / Re: Do you keep your Bitcoins on an exchange? on: August 07, 2012, 07:33:48 PM
Do you?

If so, let me be the first to tell you that you're in for some paperwork and frozen funds.

I do keep coins on various exchanges - about as many as I need. Never had problems of any kind. I keep money in the bank, too. I use credit cards, too. Once I had my credit card cancelled without prior warning or post-mortem notification. They thought they noticed "suspicious activity" and killed the card.
Seems like you are complaining about Gox. They are transparent about how they do business, and comply with government regulations. If you don't like it, don't go there, and don't waste everybody's time here bitching about it. You have a plenty of non-regulated, free, anarchic choices available to exchange your coins. Good luck.
1752  Bitcoin / Bitcoin Discussion / Re: Study of Carnegie Mellon University suggest to attack the Bitcoin network on: August 07, 2012, 07:22:21 PM
That's one way to look at it. Another way would be to notice that the study actually suggests best ways to protect SR. Also note they were very mindful about ethical implications of their methodology and publication. The title of this thread is inappropriate.

So, what is the appropriate title?
https://bitcointalk.org/index.php?topic=98586
1753  Bitcoin / Bitcoin Discussion / Re: I just made my first Bitcoin ATM withdrawal... 3BTC from my printer. on: August 07, 2012, 07:16:25 PM
These are skimmed much more easily than credit or debit cards - all you need is a camera, not even physical access. There is also the issue of change. Wasted paper, too. Any smartphone can display QR codes on demand, only when needed. Perhaps a nice chimera would be an e-paper note. Sounds too much like the "Bitcoin Card"? It does, but I think Casascius is more than qualified to look into similar solutions and to innovate.
1754  Bitcoin / Bitcoin Discussion / Re: Study of Carnegie Mellon University suggest to attack the Bitcoin network on: August 07, 2012, 06:40:20 PM
That's one way to look at it. Another way would be to notice that the study actually suggests best ways to protect SR. Also note they were very mindful about ethical implications of their methodology and publication. The title of this thread is inappropriate.
1755  Bitcoin / Bitcoin Discussion / Re: This is HUGE: WIKISPEED, first car-maker in the world to accept Bitcoin on: August 07, 2012, 02:40:48 PM
I wonder what producers of hemp fuel do with all the waste product (everything but seeds)... SR?

Similar to how cannabis plants are bred for lots of cannabinoids, hemp plants are bred for attributes suitable to industrial purposes, and have very little cannabinoids. You won't be getting high at all (or at least very much) off of hemp.
Unless you're making fuel from the seeds of cannabionoid varieties. But we stray from the topic.
1756  Economy / Speculation / Re: Is this for real? on: August 07, 2012, 04:13:27 AM
We should make it a habit to revive old threads with predictions.
1757  Bitcoin / Bitcoin Discussion / Re: Kaspersky poll, vote for Bitcoin on: August 07, 2012, 03:58:06 AM
I don't use FB, so can't vote. But I do cheer in here.
1758  Bitcoin / Bitcoin Discussion / Re: Easiest way for a site to accept donations in Bitcoin? on: August 07, 2012, 12:58:22 AM
Bit-Pay offers "donate now" buttons and links (like the PayPal one they have on their site now) and they can specify what % of their incoming funds they want kept as BTC, or auto-converted to a local currency.

https://bit-pay.com/charities.html

By local currency, we can put a direct deposit every day into their bank account in 9 countries:  USA, Canada, Mexico, UK, Germany, France, Spain, Italy, and Netherlands.


A similar service is also offered by paysius.com. They also explain Bitcoin well to anyone willing to read for five minutes.
1759  Bitcoin / Bitcoin Discussion / Re: This is HUGE: WIKISPEED, first car-maker in the world to accept Bitcoin on: August 07, 2012, 12:54:37 AM
I have heard of these external cumbustion engines before but they are not within typical consumer reach just yet. Another interesting technology around the corner is micro-turbine powerplant.


But in the mean time, I'd would rather just love to drive around listening to a big turbo spool maybe even with this decal over the fuel cell/door.



I wonder what producers of hemp fuel do with all the waste product (everything but seeds)... SR?
1760  Bitcoin / Bitcoin Discussion / Re: Bitcoin and Craigslist on: August 07, 2012, 12:35:51 AM
Craigslist is not popular in Quebec but I do it all the time on kijiji.ca. I add mention that I also accept to be paid in Bitcoin.

Kijiji in the rest of Canada, too. I add a sentence stating that I gladly accept bitcoins, and offer a discount for bitcoin payments. This is a sensible way to popularize and legitimize Bitcoin.
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