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interesting concept. a bank of sorts. i wish you the best of luck in this complex business.
I'm not storing any balances or handling any funds - I am printing randomly generated numbers on paper, mailing them out, and forgetting about them, promising not to keep a copy. Once I send out a sheet, it's completely out of my hands. We're to trust you not to keep them? Nope, not going to happen. No one in their right mind would trust an unknown 3rd party with full access. No offense, but this seems like a clear money-grab since the keys are a one-time use. Furthermore, this concept is not simple-for-grandma. A grandma isn't going to know what a private key is, how to use BlockExplorer, or know how to spend the money. Or the modified bitcoin client. Just seems like a half baked idea stolen from bitbills. You guys are not being nice. This is really no different than bitcoin4cash or cash2bitcoin where people send envelopes stuffed with cash to complete strangers! |
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There needs to be an internet poking stick so that every time someone writes "Here here" (it's really "Hear hear!"..as in "you should listen up", not telling your dog to come here or w/e it is people think they are sounding out) or uses "then" instead of "than" (as in "x is better than y") and "their" instead of "they're / they are", "your" instead of "you're / you are" and various other classics they get poked.
In evil places. Painful places.
You are a true grammarian, aren't you? |
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Actually, it's the third or fourth [of its kind]. Digital era predecessors in pseudo-currencies include Beenz, DigiCash, and frequent flyer miles. Going back further in history, look into how the house of Thurn und Taxis got rich after inventing postage stamps. (They also built and ran the postal system).
The main new thing about Bitcoin is the generation mechanism. DigiCash was equally anonymous, and had a comparable anti-double-spending mechanism. But it used a central "bank" to keep the transaction list.
I can tell, at this point, that you didn't read the article I suggested to you. Not nice. And yet you prattle on. Frequent flyer miles are a predecessor to bitcoin?! It's also an illusion that Bitcoin isn't centralized. Some of the policy, such as transaction costs, is embedded in the client. The constants that drive the coin generation rate were set centrally at launch, and are embedded in the early coins. Those locked-in policies favored early adopters and set a ceiling on the number of Bitcoins which is not that far away. Here you seem confused as to what "decentralized" means. The policies and protocols coded into software do not make the it centralized (or otherwise). I'm particularly disappointed that you ignored my point about the morality of the current money system, which you seem to be defending. You are on the wrong side of history. Your Dun and Bradstreet world is immoral. You need to come clean of it. |
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OP, can you clarify the following quote?
"When Ponzi schemes crash, they crash fast, and they crash all the way."
Bitcoins "crashed" from 30 down to $12, and then back up to $18. How does that fit in with "they crash all the way".
Later, mtgox hack/faulire occured. BTC "crashed" again down to $14~ on tradehill, but worked back up to around $16. How does that fit with the quote?
It doesn't seem to me that BTC have crashed fast, or all the way. Either they are crashing really really slow, or they are not crashing at all, or they are not crashing "all the way".
Based on your quote, BTc can't be a ponzi scheme, since it's crash didn't follow the standard model for ponzi scheme crashes.
Hold on here. An immediate crash could occur if, for example, a flaw were found in the fundamental bitcoin logic such that it could be hacked. People would stampede out the door. |
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Oh wow the orignal bitcoin folder is almost 500mb
I can't have that on my C/ drive where my OS is, I don't have that kind of space to push around, only enough for the OS and essential programs :\
EDIT: I did what you said, and still at 0 balance plus my bitcoin address is now different... doesn't look good...
The bitcoin client changes addresses (keys) automatically, though I thought it happens after receiving coins. But IF you are using the original wallet.dat (to which you sent that coin) it may take a while before you see the coin received, particularly if that happened a while ago. |
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I'm John Nagle...
So what's wrong in the Bitcoin world?
First, it...screams "bubble" to anyone who's seen one. Bear in mind that the Bitcoin system generates no revenue. All funds must come from new investors. Bitcoin is not a company or a stock so it never will "generate revenue" and will always fall short (for you) in this respect. Second, Bitcoin is supposed to be a currency, but it's actually a speculative vehicle. If Bitcoin were a successful currency, there would be many merchants using it for small transactions, with perhaps some speculation on the side. In practice, the speculation dominates. This is the real problem with Bitcoin. You are correct. The excitement in this teeny, tiny micro-community is due to the anticipation of bitcoin's use as a currency. There is risk in speculating that it will be adopted as a currency but there could be huge payoff too! Your criticisms of bitcoin seem based more on analyzing charts than on appreciating its fundamentals. Bitcoin is the first of its kind. If you read this very good article you will learn that "Bitcoin isn't just a currency but an elegant universal solution to the Byzantine Generals' Problem[1], one of the core problems of reaching consensus in Distributed Systems." The "useless work" of mining (solving computations) is actually at the core of what enables bitcoin to "live out on the network" and maintain the fidelity of its ledger. It is a prototype of many decentralized applications that will now be forthcoming. Bitcoin is (in theory) beyond the control of governments, so it can't be manipulated and inflated or killed by them. Unlike your other examples it is decentralized (as mentioned), and it is (or can be) private so it can move across police state or capital-controlled borders. Those are some of its technical points, but there is a certain morality at play here too. The invention of bitcoin is the response of humanity to the economic system that we were born into and which we now understand oppresses us and always has. A tiny financial class benefits enormously from the present system and seems to be so arrogant that they no longer attempt to hide their thefts from us, their victims. Something simply has to be done. So, you can be "amused" watching us little people struggle but what kind of man are you? What are you doing to right the wrongs of this parasitic class? Is the morality of an investment something you consider for your clients or do you have them invested in oil companies, Monsanto, uranium miners, defense companies, etc.? |
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Is it possible you moved the original wallet.dat file? If you moved the original wallet.dat file that would also explain why no bitcoin has arrived.
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If you use the Internet to learn about life you are a big  Man, that's disgraceful! And he's just a kid. |
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The show is on!!! GOX IS LIVE!!
What r you talkin bout? |
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I think a thread(s) to discuss hacking is a good idea. I am interested.
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I'd consider 30$ the more ridiculous number out of the two.
there is no economy to speak of already, and the money supply grows by another 40% within the year alone.
the 2,6 million coins that are mined in a year equal 80 million dollars at 30$.
that means 80 million dollars have to come in to SUSTAIN this price!
(or miners don't sell as many, but that only means they expect to sell it for even more in the future).
I like the bitcoin concept and all this specuation doesn't make it worse, but I'm sorry, this is insanity.
Bitcoin seems to be the first currency in history that offers both privacy and portability across police state borders. When people realize its true potential they covet it. (Notice the bloke above who is divesting gold and silver to own bitcoin.) This appears to be a real phenomenon. And it's just getting started. Unfortunately, bitcoin will probably suffer the same fate as gold, silver, (and goldmoney), and that is that the commodity itself is so precious that it is hoarded instead of traded. Why get rid of bitcoins (or gold, silver) when one can part with funny colored paper whose value is yanked around by crooks? (real money crowds out bad) |
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Why does everybody talks about gold as if it has any intrinsic value?!  It have a conventional and relative value strengthened by ages, but no intrinsic value at all and not even many applications. To not mention "GoldMoney" is just yet another name for "e-Gold" with a nicer template... Actually, e-gold was private; it didn't require the verification process. This makes the difference between them huge and it is also true with bitcoin. Casey seems to miss the importance of the privacy feature of btc. |
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I am don`t get it - are we already overtaken by fake personalities ?
Fake personalities? Are you referring to the military project to create fake people on the internet? Me and the other government-loving, mainstream TV watching, ignorant, arrogant, know-it-all statists here on this thread laugh at such a notion. It's not mentioned TV now, is it? Right?! |
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Goldmoney requires that one be "verified" by sending them govt ID and utility bills--this is the same shit MtGox requires to increase one's withdrawal limit. This is the greatest weakness of goldmoney for Americans.
(Btw, the knee-jerk "America is the greatest country" readers must have trouble reading Casey!)
Bitcoin's advantage is that it can be private and portable, moving effortlessly across borders. This is going to matter a great deal in these times. We ARE going into a world war, after all.
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Are we even talking about BTC anymore? What's going on here with this petty drivel? Check yourselves as the enemy engages. The boards are infiltrated. What point are you proving and to whom? Is it serving your own ego? Are you winning?
What have you won?
If you don't understand your enemy you cannot win. Many people on this forum believe the lies that pass for the mainstream view, what I call "the matrix". As long as they do so they will not see the attacks coming even if they are telegraphed. Although, I've almost never seen someone's mind changed via internet forum. I'd be willing to bet somewhere in the CIA there is already a bitcoin task force and I wouldn't be surprised at all if they have been tampering with the infrastructure, hacking exchanges, infiltrating these forums (fora?), and studying the reaction. I know there are those who think government is always just plain stupid (and I think this springs from their own sense of superiority). This kind of hubris will hurt us. This enemy is evil, intelligent, and infinitely resourceful and they've been at this game for a long time. They want to kill bitcoin. |
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He wasn't some idiot caveman with a club. That "bearded man from caves" had aroud 30 million USD of personal wealth inherited after his father. His family are filthy rich people with close ties to the Saudi royal family. But more importantly, he had lots of supporters and people ready for suicide missions, because guess what - they don't like Americans very much around there.
Right, they "hate us for our freedoms". Anyway, I just wonder how anyone can watch Building 7 fall down like this and not smell the rat. |
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I've been trying to do this for hours now. I got so far once as to change my password, but then I got disconnected.
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I end up convicted and the FBI buys some new socks and night lights for the whole office with the balance.
...more like colombian cocaine and hookers, but I digress... |
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I filled out the form, hit 'Submit' and then got a server disconnect message after a long wait. Now I wonder if my info is lost in the ether or has made it into their system in which case subsequent attempts won't work or collide with what's already there. Internet blues.
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Most researchers across the world have come to the same conclusion, Oswald was mentally deranged for a long time and acting alone.
This is a joke, right? |
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