maybe a mis-spelling. Personal MAssage partner

well Gavin has already tried to remove satoshi out of the equation by making clients no longer recognise transactions of 0.00000001 (a satoshi) so maybe having 'a Gavin' as a 0.00054 so that everyone remembers him as the smallest and cheapest thing to have replaced satoshi

Centralisation is not really a problem, if 10 people met up at a coffee shop each week, a lot of people will shout out that its a centralised location, blah blah. The problem comes when a place becomes so big that people that don't even use it, begin basing their prices and activities on it. So that the central location becomes a point of power, which affects peoples choices and opinions.

This is about control not centralisation, there are many people that don't use MTGox because they only trade bitcoins for products. But their shopping cart and valuation is based on MTGox. I personally do not base my investments on MTGox current price. what i do though is take on the monthly LOW as a estimate of value, which for my long term investment shows a nice slow rise.



i don't worry about the panic speculation of the high prices, ill leave that for day traders. for those looking for retirement investments, use the low prices as indications of price. (there was no bubble bursting) the low price has not gone down at any time in 2013 and as long as May 2013 low stays above $51, and June stays above whatever May's low turns out to be then bitcoin is still on track for unstoppable rises

although a meet up of 20 people may not actually be a mile stone. due to the fact that there have been a few of these events before. It should however be used as a lesson for how to do things in the future, organising a regular event at a central point for people living in YOUR area, should be something each of you should be looking to do. It may not have to be limited to just selling and buying coins. but also legal products for bitcoins too.

the future of bitcoins is not the forex market, but the hand-in-hand trading of coins and products, that's the way forward that moves away from mtgox uber control

no clever scheme entrusting a second party with your funds is needed. thats the beauty of bitcoin.

especially strangers you only know of online. If you want true security away from your residence and away from the banks the best way is to use a brain wallet.

EG "To my dearest daughter i leave you this note to ensure that after i am gone you will be left without financial worries. please follow these instructions....................."

add the instructions how to redeam the passphrased bitcoin address, seal the note and put it in your Last Will only to be viewed by you, or your next of kin (daughter in this case) should you die.

there are much cleverer ways like using the title to a song that you and your 'better half' or child knows well and will never forget. and using that as the key to your riches. hide it in a cryptic letter. or tell it to your better half on visiting day if your imprisoned for tax evasion.

paper/brain wallets are more secure then third parties that advertise banking services on a forum, promising security.

none..

bitcoins are never lost because they are always on the blockchain. They cannot be burnt, or damaged. It's just the stupidity to not backup the accesskey (privatekey) which makes people unable to access them. So banks are not required, just a few lessons about triple backing up the private key both digitally and on paper is all that people are required to protect their investments.

giving out coins to scammers is another lesson, but some people never learn that lesson. By them choosing to hand the funds over to a scammer whether the funds were first in a bank or in peoples personal wallet wont change anything. Bank insurance companies will simply say that the 'customer' did not do enough due diligence or it cannot be proved that the receiving address is not also property of the same customer trying to screw over an insurance claim, thus they ill never pay out. Many bank insurance services don't pay out/reimburse if the funds were taken with the customers consent, pin number or with the use of identifiable information (username and password) that only the customer should have but never disclosed.

The only reason people use a bank is because their employer requires bank account details to pay in a salary and most utility companies take payment via bank transfer. If people were paid direct to their pocket (wallet) and the utility company or retailer accepted direct payment from someone wallet (pocket) then the need and desire for a bank would be negligible. Especially when the interest rates institutional banks offer is so small per year. So the only reason people would pay into a bank savings service is for the same reason people got duped into "bitcoin savings and loans", through promises of high regular interest payments.

Please understand bitcoin is YOUR money that YOU secure, saying that someone else needs to secure your money is absolutely absurd. Never give money to someone 'on trust' that you cannot grab hold of, if they decide to steal your funds. Unless they have a good reason to request your money. such as your unblinded trust or at least some provable legitimate business or product backing them.

If anyone is still tempted that a bank for bitcoin is a good thing then google Pirateat40 Pirate@40

so wouldnt it be easier to just have CGMiner/Reaper etc ignore transactions if they chose to, instead of the main client.

this is like going to the bank and knowing you had an ounce bar of gold and a bunch of gold dust worth 5c each in little baggies. and the banks refusing to give out the dust which may of added up to something large if it wasn't for the bank fee's adding a 50c fee to all transactions.

(analogy is when bitcoin reaches $100 each)

noob question

so imagine a miner that accepts in a 0.00000020 transaction.. the block gets solved and them pushed out to the network. imagine of 51% of the nodes are the new version that doesn't like small transactions.

would that create another fork where it doesn't get confirmed or the number of confirms never get above 1 confirm?

nothing  should be blocked, what should be done is strengthening the source code to allow the network to cope.

ignorance and avoidance is a lazy persons way out of a situation..

gavins reason for doing it is because fee's are so high that satoshi dust becomes economically unspendable.

my solution. strengthen the network to cope. remove the fee's as 25 coins at $115 each ($2875) for 10 minutes work is currently enough. fee's are not needed right now to pay for miners interests.

keep idea's like fee's for version 5 (in a few decades).

in a few months/years time when bitcoin is $1000 each then the minimal purchase you can make is just over 5c

so imagine
companies that want to do penny per click advertising cant use bitcoin
all transaction amounts would be rounded up to 10c increments to avoid losing profit. so a 75c chewing gum becomes 80c
this is the same as the governments getting rid of coins and only using whole pounds/dollar notes.

so i too say boycott the upgrade

blocking small transactions..WTF gavin!!?

the satoshi spam is not a threat, it is a view of the future payment value and volume once bitcoin exceeds $£1000 each. Gavin should be looking for ways to make the block chain cope, not ignore!

oh well there goes any chances of people buying chewing gum with bitcoin, once bitcoin reaches a £$1,000 a coin. all those vending machine companies better give up trying to make bitcoin work. all of those dollar stores might as well give up thinking bitcoin is the best route away from credit card fee's.

anyone that is thinking of selling items for $£1 and want to give a merchant/shoppingcart system 1% of your dollar. better get some new systems inplace or soon the only payments u can do are in large numbers not small handfulls of satoshis.

and for all of them penny per click website advertising revenue companies.. looks like your stuck with FIAT or off the chain book keeping with batch payments, instead of instant payments

may 5th 2013 the day bitcoin is only divisable by 4 and a half zeros

hi Guys,

im looking for a simple way to deal with paper wallets

is there any PHP or javascript or even VB.net code that i can easily (offline without using a bitcoin daemon) create/sign a raw transaction using my public private key (paper wallet) and simply send it to blockchain.info/pushtx

where all i have to do is put in the public key, private key, amount to send, destination address

rwpVb2QHLn82YK5TXrnzg1QsvPiBwvdxPf

and then will come 20 scamming keylogger add-ons pretending to also be security assurance tools.

What there needs to be is a 'tip of the day' box built into the satoshi client warning of the potential hazards. Even have the forums set a training course as part of the newbie process, to give noobs something valuable to read while they wait 4 hours which can earn them access to the forums within 3 hours if they pass a test of some sorts at the end.

that answer is easy. YOU become the exchanger.
parents give you the dollar, you give them BTC, the kids give the school BTC and you swap the Dollar with the school. with ofcourse a 1-3% swap in the middle for personal profit or to give a back hander bonus to your boss

Quite a lot of value

Imagine having $1000 by the time its in mtgox/bitstamp/bitinstant its normally worth 5% less ($950) you then end up buying bitcoin nearer to the high price then the low price of the day, adding on another 1-2% ($930). which today lets call it $111 average will get you 8.38BTC.

Now imagine you have a wholesaler that sales products 20% below retail price. Your $1000 becomes worth $1200 and if you set the bitcoin exchange rate at the 15 minute low (lets call it $105) you can get 11.43BTC without the worries of ID validation with exchanges or 2 day delay.

Simply because people hand you the 11.43BTC for $1200 worth of goods. and you pay your fiat to the wholesaler, not a bitcoin exchange.

do you have a wife, girlfriend or a sister between the age of 18-30? they sell very well on craigs list (i joke)

I love how people panic at every price movement or think the bubble has burst, it has in fact not burst. Bitcoin is still on a growth path not a decline. The reason I say this is because a lot of people base everything on the high price. not the average or low (base) price.

so here goes.



The lowest prices is where your mind should be concentrating on if your a long term investor. If and only if bitcoin goes below the LOWEST price of the previous month, should you then think the bubble is bursting. Speculators will always ramp up prices beyond natural value, but if you treat the baseline (low's) as the true value marker where no one will even dare sell lower then that as its not of value to them to sell lower, you will see we are on a constant upward trend.

so as long as the price does not drop below $51 in May, and then in June the price does not drop below whatever the lowest price May ends up having. you should never have a depressing nights sleep again.

I also believe that within the community it really needs to be highlighted that people should be looking towards starting product businesses as they can make a lot more % by selling products then they can day trading or mining, with less risks.

My site will (once released) show people that would normally buy coin from the UK regularly, to instead of converting their FIAT to dollar and purchasing coins on the exchanges. Have a list of drop shippers and methods to advertise products in bitcoins, and then simply hand their FIAT+customers delivery address to the drop shipper, then keeping the bitcoin.

At the moment £1000 turns into 12.5BTC purchasing it by going through exchanges just to buy coin. But with £1000 and a drop shipper that supplies goods at 20% below retail price. By selling at proper rate using the retail price as a guide you can end up with 16.6BTC without having to worry about american exchanges or verification.

The whole obsession that mining or buying coins direct through MTGox being the only routes into bitcoin is getting ridiculous.