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1861  Bitcoin / Bitcoin Discussion / Re: What if someone bought up all the existing bitcoins? on: March 29, 2012, 03:29:27 PM
Somehow I like how this discussion gets started over and over again Smiley

Simple answer: If anybody would really achieve to buy all BTCs (which would cost close to all the money in the world as stated above), on average 5 minutes later some miner would have more for him. Most likely AMD would get bought up by the same mysterious guy, every university in the world would give classes on "FPGA and future mining approaches", not only WWF would rally against BTC, the price of electricity and every hardware - new or old - containing any kind of IC would sky rocket, ... crazy world Smiley
1862  Bitcoin / Press / Re: Bitcoin press hits, notable sources on: March 14, 2012, 01:40:10 PM
I made a "comment"-thread meant to accompany this famous thread. It's meant to be used for comments on items in here that don't merit their own thread.

So, if you like this idea and have a comment on stuff in this thread, feel free to pollute this thread instead:

"[COMMENTS] Bitcoin press hits, notable sources" (https://bitcointalk.org/index.php?topic=67873.0)

This whole thread consists of
20% discussion
5% reposts of old mentions
5% meta

If you want it to be 100% "Bitcoin press hits, notable sources", make a wiki page. A wiki would also allow to organize all the re-runs, collectively moderate vandalism like this very post, richer presentation, ...
The wiki is down to me again. Not good for backing my point Sad
1863  Bitcoin / Bitcoin Discussion / Re: Idea: Tuition marketplace using bitcoin on: February 23, 2012, 01:33:33 AM
hm... free to play even reached the porn industry. why not do a http://www.myfreecams.com/ style educational project? Students can pay for good teachers. Patrons could pay the best teachers for others, too. I could imagine this would be very cool with lots of media attention but Bitcoin would just be one of many payment methods as for payed services, it is crucial to make it as painless as possible to pay.

I swear to God I'm somehow being watched or my internet connection is being tracked, then shared with this community. How the hell else could you have known about http://www.myfreecams.com/ if it wasn't relayed to you via my activities? Yes, I've been to that site. Several times. But only for market research and to listen to the background music. Heaven forbid, please don't drag my sister, nephew and dog into all this. They have enough problems.

That said, each time I've visited that site, I think of Bitcoin and how it could be used there. Unfortunately, I'm not on it long enough to develop a marketing plan before I come back here to this forum fresh, and ready for action.

My favorite is this petite South Korean girl of which I swear I've seen her living room before, but can't quite place my Bitcoin Magazine on as to where.

~Bruno~ (not Bruno De Borbon)


hehe Smiley

do you know if the girls and dogs may show QR-codes in their video or present otherwise ways of payment around the token thing? They get 5ct. per token which is about 60 somewhat % of what watchers pay on average for them. guess the site operators wouldn't like to see direct payment.

besides I'm afraid people would tip more tokens for a *** ***** than for top class education. proof me wrong Wink

yep, mfc is not anonymous but for teacher-student-situation this wouldn't even be a problem. ask mfc if they would do the teaching-thing and hand over mfc to you to do it in bitcoin. would only make sense.
1864  Bitcoin / Bitcoin Discussion / Re: Idea: Tuition marketplace using bitcoin on: February 22, 2012, 11:32:55 PM
hm... free to play even reached the porn industry. why not do a http://www.myfreecams.com/ style educational project? Students can pay for good teachers. Patrons could pay the best teachers for others, too. I could imagine this would be very cool with lots of media attention but Bitcoin would just be one of many payment methods as for payed services, it is crucial to make it as painless as possible to pay.
1865  Economy / Economics / Re: SWIFT ready to block Iranian bank transactions on: February 20, 2012, 05:12:50 PM
Initially they'll proably have to resort to fax and telephone

I had to lol at that Smiley
Imagine SWIFT on Fax Smiley 15.000.000 Faxes per day? *5g of paper per sheet? Hmm ... makes 75t of paper. Save the rain forest! Don't kick Iran out of SWIFT!1!
1866  Economy / Economics / Re: SWIFT ready to block Iranian bank transactions on: February 20, 2012, 02:41:09 AM
As i said elsewhere, BTC will not help Iran a bit. At least not for those that want to convert their IRR to BTC as there are no BTC for sale in the country. There could be high demand for BTC in Iran though, so sending BTC to Iran by friends and family would definitely be a way around the embargo but I doubt Iran will embrace the BTC. Actually I would even fear that if Iran officially announced to use BTC to circumvent the SWIFT embargo, this would pose a risk for the BTC.
1867  Bitcoin / Bitcoin Discussion / Ever tipped in a restaurant in BTC? on: February 20, 2012, 02:32:09 AM
Hi,

I wonder if anybody here was ever geeky enough to tip a waitress well but in BTC with an instawallet url for example? Or give a BTC-Dime to a beggar this way?
1868  Bitcoin / Bitcoin Discussion / The First * Restaurant to Accept Bitcoin. (Suggestion for an incentive.) on: February 17, 2012, 01:12:44 PM
TLDR: Restaurants might take the bait if we guarantee them 10$ profit per table per month at the cost of 10% of their bitcoin turn over.

Ok now these threads about "the first ... restaurant" pop up and sorry for not reading through all of them but I doubt that pledging to go there will convince business to to this.

If I owned a restaurant, I would think about the implications.

Contra:
* I have to learn something new.
* I have to take the legal risk of doing it wrong.
* Bitcoin transactions might slow down the payment process
* I might not make any profit from this new thing none of my friends and colleagues ever heard of.

Pro:
* This weirdo that just talked about some weird P2P and Satoshi somewhat might be right and have some friends that regularly come to my place, but do I want them??

I guess what we most need are two things:
* success stories: How relevant is the BTC turn over of first movers in big cities? Do we have nice stories there?
* somebody else to take the risk: If we know numbers we could guarantee a certain turn over. I'm pretty sure the visitors per month would not depend on whether it is a small local fast food place or a stylish restaurant, bitcoiners would go their because of bitcoin. If we know the numbers, we could guarantee them to the business. If they make less profit, we pay them until we give up on that restaurant on a case by case basis. With a contract we could also decide to allow us to step out from the contract after 2 months of paying a compensation.

Sounds altruistic? We could sell it as an insurance. The business pays 10% of its BTC profit to our fond and gets its turn over filled up to lets say 100$ if it happens to fall below that threshold. I'm pretty sure the 10% mark up on the $$ prices would be ok for most bitcoiners also.

In the TLDR I put 10$/table and below I claim that size doesn't matter. In fact I want to give a bigger incentive to bigger restaurants and if the Hardrock Café Munich accepted Bitcoin, I guess we would be more willing to cover a bigger loss than with the one person fast food place. In the end the city size should definitely also go into the calculation as I'm sure in the countryside we would be paying 9/10 months.
1869  Bitcoin / Bitcoin Discussion / Re: Bitcoin big earners? on: February 16, 2012, 07:09:57 PM
Yes, it's sad but I also believe the ones who really made money quick with bitcoin are a few early adopters that cashed out last year and scammers/thieves.

What makes you think they cashed out?  It's easy to look back at the price history and imagine how you or someone else would have or should have done this-or-that at some particular time, but in reality these things only make sense in hindsight.

Well, I'm sure there are enthusiasts like me who see the price go up and conclude they should mine more or see the price crumble and send money to Gox. I would only take my money out if I really needed it but I fear a bit that by the time I have to take it out, I will be in for a great loss.
But there are sure also people that know how to trade and recognize a bubble when they see one. These guys are not emotionally connected to the idea of BTC but see this as gambling. If all the BTC were owned by enthusiastic supporters of the project, I wouldn't loose faith that easily Wink
1870  Bitcoin / Bitcoin Discussion / Re: Bitcoin big earners? on: February 16, 2012, 12:28:47 PM
Yes, it's sad but I also believe the ones who really made money quick with bitcoin are a few early adopters that cashed out last year and scammers/thieves.

Bitcoin is not the tool to make money quick. At least not legally. Hope this news is not too disruptive for most that hold Bitcoin or plan to do business with it.
1871  Bitcoin / Bitcoin Discussion / Re: I see some manipulation... on: February 15, 2012, 12:11:15 AM
Occam's razor: Why assume a conspiracy when all this can be explained by incompetence?  Roll Eyes

Popcorn: Why assume incompetence when all these conspiracies are way more fun to discuss? Roll Eyes
1872  Bitcoin / Bitcoin Discussion / Re: Great News! Bitcoin is Project of the Month at Sourceforge! on: February 14, 2012, 03:18:06 PM
omg ... veteran "Battle for Wesnoth" is still worth being project of the week ...
1873  Bitcoin / Bitcoin Discussion / Re: Bitcoin buyout. on: February 14, 2012, 03:15:15 PM
How ridiculous this question is ... "I would refuse any offer" got 36%. That is more than 10% (of the users (of a small sample of all users)). End of debate.

You never know if there is not already a company owning 90% of all bitcoins. Maybe paxum decided to buy in so the just dropped the price a bit yesterday.
1874  Bitcoin / Bitcoin Discussion / Re: Lost Bitcoins on: February 14, 2012, 02:44:29 PM
Would this be a valid attack? Imagine Goldman Sachs & friends buy a large amount of all the available Bitcoins, park them - and throw away all information where they are parked.

The money it would cost would be peanuts for them (a fraction of their bailout money Wink ... and "Problem Bitcoin" would be solved before it's getting to big.

Sorry Frizz23 but it is ridiculous to assume that a commodity could be threatened by buying it. Will the gold market be destroyed if I buy all the gold in existence? Or the €? If I do that and destroy the commodity, I caused an explosion of its value. If I do that and dump all of my property afterwards, I raised attention and will get more people into the game than by not doing anything.

Even if you buy all but one Satoshi, the bitcoin would work for the world as it would now. We would only need to introduce more digits.

(Even one of the speakers at the Bitcoin Europe briefly sketched this "horror scenario" and I was only shaking my head. This is no threat, this would be the final break through.)
1875  Bitcoin / Bitcoin Discussion / Re: Lost Bitcoins on: February 13, 2012, 05:55:50 PM
Let me fix what revalin said


Slightly longer answer:  It does the same thing as when you throw away a ingot of gold.  


Also oversimplified - if you lose an ingot of gold, someone may find it again. If you lose the keys to your wallet, there is basically zero chance of recovery. And yet the keys still exist!

Well, not true neither. If you loose a secret key, this might surface at some point in the future, too. Imagine today's crypto turning insecure - which you can take for granted for some distant future. Bitcoin might be supporting RSA16k by that time while there is still money on old keys. Now the treasure hunt would be open to crack those most valuable wallets.
I would assume if Bitcoin survives the next 100 years, every single Satoshi that was "lost" due to forgetting a private key by today will be found by someone as we would most likely have added some 0s as one Satoshi would just be too precious as the base unit.
People might "mine" for lost wallets rather than for the then ended block reward Wink
1876  Bitcoin / Bitcoin Discussion / Re: [ANN] Introducing LIMOCOIN from Bit-Pay on: February 11, 2012, 06:10:26 PM
Most likely you could even give your app as a library to myTaxi for seamless integration. In the end, success of bitcoin is all about politics and such a cooperation would definitely have major impact.
myTaxi drivers already provided billing information.
1877  Bitcoin / Bitcoin Discussion / Re: [ANN] Introducing LIMOCOIN from Bit-Pay on: February 11, 2012, 06:08:04 PM
Are you planning to promote this in some big cities? I guess due to an overlap of target audience, it might be interesting to contact MyTaxi or similar services that are rolling up the taxi market right now.

Good luck and I'm looking forward to finding taxis when I set "Bitcoins only!" as a comment along with my myTaxi call.
1878  Bitcoin / Press / Re: Bitcoin press hits, notable sources on: February 09, 2012, 05:08:17 PM
Apple patents digital currency to get one up on facebook

mentions possible problems for bitcoin

http://www.cbsnews.com/8301-505124_162-57372470/apple-patent-throws-wrench-into-facebook-plans/

This is such a lame patent, I would be surprised if it ever stood up in court.

It would never hold up in court. World of  warcraft was released 2004, if I´m right you could by things for credit in that game.



yeah but patents are always good for some FUD.
1879  Bitcoin / Press / Re: Bitcoin press hits, notable sources on: February 07, 2012, 04:34:35 AM
The 5Live Dark Web episode is actually downloadable as MP3 directly from the BBC site here,

http://downloads.bbc.co.uk/podcasts/5live/5linvestigates/5linvestigates_20120205-2330b.mp3

22.5 MB. / 49 minutes

I stripped the news part when they talk about the bloody weather and sports, and some self-ads.

That would do anyway, I guess Smiley

And where would you put it if it wasn't illegal?
1880  Bitcoin / Bitcoin Discussion / Re: Article about Bitcoin @ Germany Smart Investor Magazine ( BTC and BTC Conf 2011) on: February 06, 2012, 06:24:28 PM
Uhm ... are you serious?
A link that is no link.
A bitcoin address that does not link to block explorer.
A pdf.
On a server that takes another click to start waiting 40s for the download ... button to appear?

I mean you sounded like you want us to read this but all the hassle to get the following doesn't look like you really want it. More like you promised your worst enemy to post here Wink

Quote
Bitcoin – Schneeballsystem oder Digitales Gold?
Eindrücke von der ersten europäischen Bitcoin-Konferenz Ende November 2011 in Prag
Gastbeitrag von Fabio Bossi
War die vermeintlich dröge Frage nach dem Wesen von „Geld“ jahre- wenn nicht jahrzehntelang wenigen Ökonomen – gerne auch abseits des Mainstreams – vorbehalten, wurde sie im Zuge der jüngsten Finanzkrise popularisiert und erreichte auch Teile der Jugend- und Internet(sub)kultur. Die Empörung über billionenschwere Bankenrettungen und die Eurokrise weckten das Bewusstsein breiterer Bevölkerungsschichten dafür, dass „etwas“ mit unserem Geldsystem nicht stimmt. Linksalternative jugendliche Protestierer auf Madrids belagerter Puerta del Sol empfehlen auf Flyern Youtube-Dokumentationen wie „Money as Debt“, die heterogene Hacker-Gruppierung Anonymous erklärt der US-Notenbank und Wall Street den Cyberkrieg und die Occupy Wall Street-Bewegung geht um die Welt.

Internet-Geld „Bitcoin“
Im Sommer 2011 erschienen vermehrt Berichte über ein neues kryptographisches Internet-Geld namens „Bitcoin“. Selbst öffentlich-rechtliche Medien berichteten mit einer gewissen Begeisterung, was den „Bundesverband Digitale Wirtschaft“, der im Netz unter dem bescheidenen Slogan „Wir sind das Netz“ auftritt, zu folgender Warnung veranlasst1:
„Durch die Nutzung von Bitcoins als Zahlungsmittel wird die notwendige Kontrolle durch den Staat in den Fällen von Steuerhinterziehung oder Geldwäsche unmöglich. Deswegen sind Bitcoins schlichtweg gefährlich und haben das Potenzial, der gesamten Gesellschaft eben durch Steuerhinterziehung, Geldwäsche oder andere illegale Geschäfte nachhaltig zu schaden.“
Die mit ausgeklügelten kryptographischen Verfahren produzierten Cybergeldeinheiten wurden bekannter und die Wechselkurse an wie aus dem Boden sprießenden Online-Tauschbörsen schossen in die Höhe.
Angetrieben vom medialen Hype und möglicherweise Marktmanipulation erreicht der Wechselkurs des Bitcoin Anfang Juni 2011 an der Online-Börse „Mt.Gox“ ein Allzeithoch von fast 30 USD, um kurz darauf wieder völlig zusammenzustürzen, als am 19. Juni ein unbekannter Nutzer der Börse ein Konto mit 500.000 Bitcoins (BTC) kaperte, was einem Dreizehntel der gesamten zu diesem Zeitpunkt vorhandenen Menge an Bitcoins entsprach. Als es im Juli und August zu Datenverlusten bei einer polnischen Börse und zur Entwendung von Online-„Geldbeuteln“ beim E-Wallet-Dienst MyBitcoin.com kam, schien das neue Online-Geld bereits wieder zum Scheitern verurteilt zu sein. Im November notierte der Bitcoin sogar wie der unter 3 USD.

Erste europäische Bitcoin-Konferenz
Doch von Katerstimmung war auf der ersten europäischen Bitcoin-Konferenz am 25. und 26. November letzten Jahres im spätherbstlichen Prag nichts zu spüren. Neben rund 70 Programmierern und Internet-Enthusiasten versammelten sich auch Entrepreneurs wie Amir Taaki, ehemaliger Online-Pokerspieler und Spielentwickler, oder der exzentrische und höchst bankenkritische Journalist Max Keiser in der tschechischen Hauptstadt.
Doch was ist „Bitcoin“, die Erfindung, die laut dem ebenfalls anwesenden Rick Falkvinge, dem Vater der schwedischen Ur-Piratenpartei, „für die Banken das sein wird, was E-Mail für die Postunternehmen war“, überhaupt genau? Das Konzept der kryptographischen Internetwährung lässt sich auf den japanischen Programmierer Satoshi Nakamoto zurückführen, den allerdings auch keiner der auf der Konferenz anwesenden Insider je gesehen hat.
Nakamoto programmierte den ersten „Bitcoin-Client“ im Open-Source-Verfahren und förderte Anfang 2009 auch die ersten Bitcoins, zog sich 2010 aber aus der Weiterentwicklung zurück.

Bitcoin nutzt das Prinzip der dezentralen Netzwerke, wie sie von Online-Tauschbörsen wie e-Donkey bekannt sind. Nutzer auf der ganzen Welt „fördern“ (engl. „to mine“) Bitcoins, indem ihre Rechner kryptographische Aufgaben lösen. Allerdings wird die Fördergeschwindigkeit reduziert, indem die „Belohnung“ für das Fördern sukzessive reduziert wird, je mehr Rechenleistung zur Verfügung gestellt wird. Anfangs war das „minen“ daher noch über jeden Hauscomputer sinnvoll möglich, ab Mitte 2011 brauchte man schon hochgerüstete Rechner mit speziellen Grafikkarten, um einigermaßen kostendeckend fördern, also besonders viele Rechenaufgaben lösen zu können.

Eine „endliche“ Währung
Dementsprechend schwierig ist es auch abzuschätzen, ab wann die systemintern festgelegte Bitcoin-Obergrenze von 21 Millionen erreicht sein wird. Ende 2011 waren etwa 7 Millionen Bitcoins gefördert worden. Dass auch Bitcoins anfällig für Spekulationsblasen sind, hat der Sommer 2011 bewiesen. Allerdings hat beispielsweise das Edelmetall Silber Anfang der 1980er Jahre einen prozentual noch dramatischeren Einsturz erlebt. Ein Schneeballsystem ist Bitcoin ebenso wenig wie Silber, da nicht laufend neue „Investoren“ benötigt werden, um alte Investoren auszuzahlen. Ein Bitcoin ist eine endliche digitale Einheit, die in der nie gänzlich vorhersehbaren Realität zerstört werden und verloren gehen kann, ganz so als sei sie physisch vorhanden.
In gewissem Sinne hat ein Bitcoin – sogar mehr als ein „Euro“ – die Eigenschaften dessen, was die Mehrheit der Menschen sich unter „Geld“ vorstellt, nämlich ein endliches, nicht mehr oder weniger beliebig reproduzierbares Gut zu sein. Diese Sicht wird heutzutage von kaum einer akademischen monetär-ökonomi- schen Denkschule verfolgt, da alle etablierten Geldtheorien für selbstverständlich hinnehmen, dass nur der Staat bestimmen kann, was eine Geldeinheit, eine „Münze“, zu sein hat, und dass man als Bürger nur seine Münzen und was er dazu erklärt als Geld zu nutzen habe. Völlig ausgeschlossen ist die Führung privater Alternativen zum „gesetzlichen Zahlungsmittel mit schuldbefreiendem Annahmezwang“ dennoch nicht. Solange man seine Steuern in der staatlichen Währung bedienen kann und den nötigen „Vorrat“ über Geldwechselvorgänge in der persönlich präferierten Geldeinheit sicherstellt, kann man theoretisch privatrechtliche Verträge auf andere Zahlungsmittel ausweiten.
Breite Akzeptanz vonnöten
Selbstverständlich ist aber eine breite Akzeptanz vonnöten, um den Geldcharakter einer präferierten Geldeinheit wirklich breit nutzbar machen zu können. Das gilt z.B. für Goldmoney (die Organisation unseres Kolumnisten James Turk, S. 57) wie auch für Bitcoins. Diese Marktposition zu festigen und auszubauen, das Geld also zum marktgängigen Gut in der Terminologie der Österreichischen Schule zu machen, sieht David Birch, IT-Berater, Konferenzteilnehmer in Prag und laut dem britischen Telegraph einer der weltweit renommiertesten Experten zum Thema digitaler Währungen, als das größte Problem. Er erinnerte die eher junge technikaffine Teilnehmerschaft daran, dass es der breiten Masse der Konsumenten egal sei, ob das von ihr verwendete Geldsystem dezentral organisiert und anonym nutzbar ist. Die meisten Menschen wollten einfach sicher und bequem die gewünschten Zahlungen ausführen oder entgegennehmen können. Praktische Lösungen wie EC-Karten oder Smartphone-Applikationen, die bei Bitcoin noch in den Kinderschuhen stecken, seien daher gefragt. Ein haptisches Gerät erarbeitet derzeit Prof. Dr. Clemens Cap vom Lehrstuhl für Informations- und Kommunikationstechnik der Universität Rostock.
In Prag präsentierte er ein etwa kreditkartengroßes flaches Gerät, das an einen schlanken MP3-Player erinnert und als portable und billige Geldbörse für die kryptographischen Schlüssel dienen soll. Ein Bier hätte man beim Meet-and-Greet am ersten Konferenzabend im Hardrock Café in Prag damit bereits bezahlen können – wenn die WLAN-Verbindung des Cafés funktioniert hätte, denn die Kasse war extra auf die Möglichkeit vorbereitet worden, Bitcoins anzunehmen. Aber: keine Verbindung, keine Bezahlung. Diese Episode zeigte plastisch eine der Schwachstellen von Bitcoins auf, an denen zahlreiche Programmierer und Entwickler noch tüfteln (Bitcoin-Aktivisten engagieren sich auch für den Ausbau eines dezentralen Internets über Mesh-Networking). Anfang Januar erreichte der Preis für einen Bitcoin wieder 7 USD. Ein spannendes Experiment, das sich zu verfolgen lohnt, ist Bitcoin damit allemal.

Der Autor freut sich über eine Spende in Bitcoin an 13M8U5eqZs9JYNnewZ5emjeoMJ4HUP58pE
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