|
No, there's no "pure" store of value, you still need to trade it. For example gold is a store of value, but there's tons of traders and transactions in gold, and traders
still make lots of money with buy/sell spread. There will not be shortage of transactions and fees for miners.
|
|
|
|
Okay yeah, very very difficult unless you operate a ton of rigged exit nodes. Then it's simple if you control all the country's ISPs like China does  Classic entry-exit attack. Ohhhhhhhhhhhhhh that's right. I almost forgot about Operation Adam Bomb. Just kidding, I knew about it the whole time and just wanted all the arrogant, fake, know it all haters here to show how clueless they are first. Anyway, mega lolz at everyone who's like "nah ah, silkroad is invincible! 2 years is like...FOREVER! NOBODY could ever find it and shut it down!" This article is titled: "Feds shutter online narcotics store that used TOR to hide its tracks" <-- lol http://arstechnica.com/tech-policy/2012/04/feds-shutter-online-narcotics-store-that-used-tor-to-hide-its-tracks/Super short summary: an exact clone of silkroad got shut down despite existing only in Tor. Oops, Des was right again. I guess computers connected to the internet can be found after all! lol. These guys used hushmail and accepted paypal/western union for payment, they might as well hold a sign to their head that says "I sell drugs". It's a miracle they even lasted over 2 years and 5000+ orders. the FBI would just need to place a single fake order and obtain their paypal address, then all is lost. |
|
|
|
can anyone explain how an entire site can exist inside TOR? I mean I read that it's like a fake TLD that's correctly translated but wouldn't the creators of the TOR software have to manually code the software to accept and properly route fake TLDs? So pull the plug on that idiotic feature! I'm still not convinced they designed it that way in the first place but I can't imagine how else someone could set up a website that exists only in TOR and have it actually work.
Btw with all the 3rd party code and direct to browser scripts and FTP operations and stuff, any web server sitting only in the TOR network would get identified and found out in like a day. So if those idiots think they're safe, they're not.
Unless someone proves they obtained verified sillkroad IP, that's like just your opinion dude. If it was that easy, silkroad would have been pwned hundreds of times by now. |
|
|
|
That's possible, but iridium market is so small and the annual production is so tiny, for any mass production purpose, it would push iridium price sky high in a short time, plus it will will draw much suspicion to the big iridium buyer. Platinum is the best choice. |
|
|
|
In my mind, it is inevitable that Silk Road will either be shut down or cease to operate in the not too distant future.
While successors will eventually spring up in its place, there will still be a large, sudden drop in demand for BTC.
How low will BTC go?
How soon might this happen?
Since I believe Bitcoin is bigger than Silkroad, I would welcome the opportunity to buy coins cheaply, but others may see this scenario as a disaster for the community.
I'm interested in peoples thoughts.
Not sure how can silk road be shutdown, the authorities would have a hard time to even locate their server, let alone the people behind it. Plus there are several other markets available in onionland, just not as popular yet. I'm sure their popularity will suddenly increase if the silkroad operators went full retard and got shutdown some how. |
|
|
|
TORwallet : "You probably want to know why you should trust us. Our answer is don't. Only deposit as many coins as you are willing to lose while we build trust in the community."
Glad I only put a very small amount in there on Monday evening. Still can't get them out. So, how long before they're officially a scammer?
The problem is they are not putting up verified identity information online, this is always a sign of scammer. Doesn't matter how "trusted" their forum id becomes, pirateat40 was a highly reputable BTC trader, highly trusted forum account with thousands of posts, he's more reputable than 99% of users on this forum. This is until he decided to scam people millions of dollars. He never provided his true identity though, a sign of scammer. |
|
|
|
|
This is 100% scam. I mean even clearnet hosted wallet provider like mybitcoin.com ended up to be scammy, this is 100% scam.
|
|
|
|
I am totally out of my element when it comes to Tor, but symmetric encryption does not affect the size of the payload, so unless Tor uses some kind of padding scheme (which it certainly might), that is not protection to just say "it's encrypted." However, I believe if someone happens to be watching both ends they can make some very educated guesses about where data is going to and from. But unless it's a honeypot site, they won't know what that data is. However, since most bitcoin data is very similar in bandwidth, I don't think they will ever be able to make a strong correlation in this scenario. Again, I am not a Tor expert, take it with a grain of salt. Some of this may depend on whether or not it's an onion site or in the clearnet, but I think we're talking about onion sites here.
What about in my case, I use a SSH tunnel to a server that serves hundreds of other SSH tunnel users, and my SSH tunnel is what I use to connect to TOR, I think this set up is 100% untraceable, as even if somehow the government cracked TOR and traced to my SSH server, they still have to determine who am I among hundreds of users. |
|
|
|
Just federal debt alone, is 16T, 1.1T is just what 7%? yeah that's what I consider tiny. Not to mention we have state and municipal debts, that has already cause a number of municipality to declare bankruptcy. This is just government debt. US companies have another 40T of corporate debt.
It's >25% of foreign-owned debt. The Fed and other US agencies own something like >20% of the total debt, which is fairly meaningless. Any money the fed makes on interest is transferred to the treasury. What do local and corporate debts have to do with this thread? I was responding to someone's claim that "China owns most of US". Which is inaccurate since China owns just 7% of federal debt, which is tiny. Plus, federal debt itself is tiny when compared to state+municipal+corporate debt. |
|
|
|
I wonder at what point they went into production.
Lots of Chinese factories are producing tungsten filled gold bars in the past few years, they are just flooding the market with them. It's impossible to detect without destroying the bar, unless one is equipped with expensive ultrasound or conductivity testing device. |
|
|
|
|
Given the fact that probably 0.1% of their customer have any bitcoin at all, I don't think they missed much.
|
|
|
|
Just federal debt alone, is 16T, 1.1T is just what 7%? yeah that's what I consider tiny. Not to mention we have state and municipal debts, that has already cause a number of municipality to declare bankruptcy. This is just government debt. US companies have another 40T of corporate debt. |
|
|
|
There will continue to be panic buying and selling, causing wild price swings. That's not a 'store of value', that's a speculative investment.
Compared to what? Is the euro, for example, safer than Bitcoin in the long run? I'm not sure about that. But if you are looking for a 'store of value', look at gold, silver, platinum etc. Those have large markets that have a high degree of liquidity. Gold price has swung from $30, to $800, to $200 to now $1700 in the last 50 years. Just look at the chart of gold price last year, 10-20% moves are basically a monthly occurrence, it's just as volatile as bitcoin. If you are looking for "stable", then USD is actually pretty stable in the long term, the only thing it does, is stably lose value, it never gains value in the long term.  |
|
|
|
1) the world is not run by dollars
2) China owns most of US
3) the euro is pretty much borked
4) other stuff
China owns tiny portion of US debt, and almost no US asset. |
|
|
|
|
This is actually more wide spread than you think, I know lots of Chinese factories are producing
these tungsten filled "gold bars" that is flooding the market. Most of the time even the merchant would not
know, since it's difficult to know unless you destroy the bar and reveal what's inside. I think at least
20% of gold bars on the market right now, are tungsten filled.
|
|
|
|
|
wow dropbox accounts are getting so cheap, I paid 2 BTC for my 18GB account just 6 months ago.
|
|
|
|
I thought only CD/DVD is physically written, HDD stores information by magnetizing certain areas of the disk.
Yeah, thats correct, as i checked now. HDD are recommended to be replaced every 3.5 years, DVD every 5 years to be correct. For DVD and CD i had read somewhere that they are more susceptible to be wiped. However, as the data gets updated steadily it should not be a problem, i never experienced a HDD that wasnt accessable after 2 years or so. Never had a HDD unused for a longer timeframe. Bottom line for me, dont use FLASH to store data longterm. So, of course, as i used multiple HDD you can also use DVD and HDD to be safe..... I usually just encrypt the file that needs to be backed up and put it in my dropbox folder, then it's synced to all my devices, plus a copy is stored in dropbox's server online, and they probably back their shit up too, so it's pretty much 100% worryfree. |
|
|
|
This leads me to wild speculation - maybe the Senkaku row between China and Japan is only a decoy and the secret real goal of Chinese government is to invade Japan or blackmail it to get control over MtGox? It's for security.
Also the United States controls Japan, Japan will obey any order from the US government. So mtgox basically can be considered to be operating in the US.
But bitcoin currently is so tiny, and so far from the radar of either government, they don't really care what mtgox is doing.
Nope, just the US using its puppet Japan to weaken the rising threat of China. Otherwise in 10 years, China will surpass US's GDP. |
|
|
|
|
Show Posts
