The simple counter to the "Bitcoins are being used for illegal activities and should be banned" argument is that, since bitcoins have a transaction record easily available on the public net, without even needing a search warrant or anything, bitcoins are actually *more* traceable than cash. You don't need to set someone up with marked bills. *Every* bill is marked. When the politicians finally get around to trumpeting about how it's a haven for criminals, be sure to point that out. It's no worse than bank transfers between numbered accounts, and it's considerably easier for law enforcement to follow any trail that gets left behind.
If they can show a direct association between an address and the suspect, then yes. clarify something for me Creighto; is it anonymous or not? just how easy would it be to trace tx's? |
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WHAT IF THE WORLD BLOWS UP!!!!  |
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i would also ask those of you PM bulls above, have u bought any btc's yet thru the client or transacted in any way with btc? have u sent or received? do not make any judgments until u do. once u do, you will be amazed at what u just did in moving money around and how easy it was w/o paying any fees. u cannot do that with PM's.
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"when all those collecting silver get educated about bit coin, know they can buy silver with bit coin they will use bit coin."
Why? Right now they buy silver with USD, in order to use bitcoin they would most likely buy BTC with USD making bitcoin a pointless middle man...
exactly. the logic is not there. |
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bit coin needs to be freely exchanged with silver and gold,so you can store your surplus wealth of bitcoin in the pyisical world of assets, just the same as you securely store them in your electronic wallet. I couldn't agree more. Eventually the bitcoin community will figure out that there is no point trading bitcoins for a government sponsored depreciating currency and they will flock to gold and silver. Bitcoins my have more upside than silver right now but silver is hands down the safer bet. I'm afraid there are a large number of people here that have overextended themselves with BTC and will get wiped out at the next big pullback. Better to hold your savings in a couple different forms of hard assets and ride out the volitility. Glad to see there are at least a couple other silver bugs here as well.  before we start this debate of PM's vs. btc, i will say i started investing in gold and silver back in 2005 with gold at $550 and silver at $9. this week i liquidated 3 bags of junk silver and converted to btc after what amts to a 500% profit in silver. i still hold over half my holdings in bullion and won't sell any gold. clearly i am a PM's bull but turning less so and very much a btc bull. i believe that digital currency is the future. the question is does it have to be backed by PM's to be successful? i don't think so. as a former Goldmoney holder, which i think is the std, i don't see that gold backed digital currency community growing at all esp. in comparison to btc. why is this so? 1. few ppl can afford PM's at this price in terms of per ounce, 2. even if they could afford they can't transport it to London or Switzerland where their vaults are to then set up a digital acct, 3. u can only transact with other Goldmoney accts, 4. even if Goldmoney vaults or other vendor vaults were located around the world it becomes impractical to move the stuff around to balance out accts, 5. the digital age demands an easier way to transact. evidence of this is the M-Pesa in Kenya. as long as the amt of btc is not allowed to inflate beyond its stated objectives it will grow in value and be a much more effective way to transact than PM's. i think that todays speed of transaction and efficiency MAY have made PM's impractical. PM's are a play on armageddon where the whole internet gets junked b/c of severe worldwide depression and deflation. this would do btc in for sure. i just don't think we get that bad, altho it IS going to get bad. |
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I have a solution for you; go to https://www.instawallet.org/and enjoy bitcoin  Couldn't be easier then post your address here and I'll instawallet you the .27btc I was using to try it out myself Thanks but I am not willing to try something new until I get these other issues resolved. If I can't get them resolved them I don't think I'll continue... frankly I am beginning to wonder if it's just a well orchestrated scam... and trust me, I WANTED to believe, I really did. I looked up the whois for mybitcoin and sent an email to that address. We'll see how it goes. why so pessimistic? heck, i don't have near the computer experience u do but i've made it all work with the basic client. my biggest source of support are the guys here on the forum. believe me, this is no scam. how in the world could all these ppl coordinate to rip off everyone else? open your eyes. would all those videos of Gavin and others be orchestrated? all the podcasts? all the news articles? wake up man and follow the directions and the software will work. |
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Hey,
I want to add dark pools to Britcoin. How do the dark pools on MtGox work? They also have 'dark pool with normal' - what's that?
Some people don't want their bid/asks to show publicly for various reasons. They could write a bot that polls mtgox to monitor the price and then post their bid/asks accordingly. This polling would be a strain on the mtgox website so mtgox implements dark pools to provide the same functionality in situ. Whether dark pool users should trust mtgox is an interesting question. I imagine there are arbitrage opportunities for mtgox based on the fact that mtgox can re-order incoming currency transactions and make his own dark pool trades which he says are other people's dark pool trades. This would be hard to detect and very lucrative. ByteCoin these are very valid points. |
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Lets see how it would work,
You pay me 1 BTC / per month to control 1000 BTC that I won't really give you (I just credit it to you). If the value of the BTC goes down. Buy back the 1000BTC and repay me the 1000 BTC. You reap the difference in the exchange. I never really risked anything.
IRL, I would give you the 1000BTC as a loan, if the value falls, you buy another 1000 BTC at the cheaper exchange, pay back the loan and keep the difference, (minus the fees).
Shorting is gambling, but a little better, it is gambling with OPM (other peoples money). And that is not done with anonymity, people want to know who's nose to bleed.
I already explained how I believe it could work in post #5 of this thread. Basically, you don't lend them to me and let me sell them. You sell them for me (on the open market), while holding my dollars "hostage" and let me decide when to buy them back. This way you are simply gambling with your own money, since if you are wrong, the lender is still in full control and will force you to buy back the BTC if the exchange rate gets too high. shorting is done by the shorter. it has to be controlled by the one doing the shorting b/c the timing is critical. if you leave it up to the one who owns the coin you'd have no control of when he executes the trade. suppose you asked me to short btc for you today and i decided to do it this morning instead of this afternoon. you'd already have lost a bunch. |
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do i really want to trust a beta version with all my coins?
So far, every version is beta. There is no "stable" version yet. thats comforting.  |
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no one wants him to succeed more than me. in fact i'm a huge supporter of his judging from the volume i do with him. i'll shut up happily when he gets his act together.
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do i really want to trust a beta version with all my coins?
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wait a minute. is this a new client release for us lay folks?
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actually it really bothers me that FerBanke is willing to go to such extremes experimenting with our economic lives. he could easily be known as The Destroyer of the greatest civilization ever. and to watch him do it in such a biased manner for the banksters. truly amazing.  |
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actually i think Gavin is the perfect "representative" for the community. he's well spoken, articulate, understands the tech just as well as anyone, has a Princeton degree, and looks honest.
actually that Princeton degree could be a negative  |
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actually i think Gavin is the perfect "representative" for the community. he's well spoken, articulate, understands the tech just as well as anyone, has a Princeton degree, and looks honest.
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I like to keep three copies of my wallet file. One I encrypt and leave in the /.bitcoin (in linux) folder then delete the original, not just move to trash. Then I make two copies of the encrypted file and store one on a remote server, the other on a USB stick well hidden. That is a lot of hassle, but what else can i do?
r u not worried about that encrypted wallet on your computer while u surf? |
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I have been trying to time any emails to him with respect to the fact that he is porbably 13 or 14 hours ahead of me so that may be why I have been fortunate with quick responses.
the exchange is a 24/7 service with problems that could happen while he's sleeping. let me put it a different way: we all love btc b/c its a distributed network with redundancy built in to prevent a takedown. mtgox is the antithesis of this. why should we depend on one person? |
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I want to get this out in the open because it is the kind of thing that will generate conspiracy theories: I'm going to give a presentation about Bitcoin at CIA headquarters in June at an emerging technologies conference for the US intelligence community.
I accepted the invitation to speak because the fact that I was invited means Bitcoin is already on their radar, and I think it might be a good chance to talk about why I think Bitcoin will make the world a better place. I'm very interested to hear the content of your talk, Gavin. I assume you'll be posting it here or that it will eventually be available online somewhere? And on a side note, I wrote this parable a while ago but never found a fitting time to post it: HISTORY OF MAN AND BITCOINChild walks in jungle. Cub walks in the jungle. Man hunts in the jungle. Tiger hunts in the jungle. Man cuts down jungle. Tiger runs. Tiger in zoo. Man in ticket booth. Gavin, u should take this golden opportunity to try and convince the CIA that in the long run the banksters are detrimental to gov'ts as well. if u doubt me, just look whats happening in the Middle East. its all about unsustainable debt from unfettered money creation. |
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The CIA probably stole bitcoins from the faucet, liquidated them on mtgox, forced jed to sell mtgox to magicaltux in japan, took some of the revenue and paid for Gavin's trip. If this is the case, then Gavin can just go back to mtgox, buy some bitcoins and put them back in the faucet. loser: jed.
LOL! |
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