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21  Bitcoin / Development & Technical Discussion / How to confirm someone owns an address? on: May 10, 2014, 11:24:47 PM
What would be the best way to prove someone owns an address?
I can ask a person to send me a very small amount of bitcoin and I can check my transactions to see what account it's coming from.

But then if they're using something like coinbase, won't many people send from that same address?  Or that address change over time.
Would a good check be having them send from the same address twice (maybe a couple weeks apart)?
Is there some kind of check to see if the address is a group address?

22  Economy / Service Discussion / Re: Gox.com could come back if it was insured on: February 25, 2014, 07:30:01 PM
Like that wallet backed by loyds of london.  There's still a chance MtGox still has everyone's money or 90% of it.  They probably didn't have enough time to re-write their software, so they stopped all transactions.  Coming back insured by a company like lloyds of london is probably the only way anyone would ever use them again.

Now I know nothing of what's going on and I wouldn't put money on this, but I'm trying to figure out why they bought Gox.com
They didn't stop all transactions at first, it was all withdrawals. Something totally different. You could still deposit money and buy from there.

I don't know about other countries, such as Japan, but in many countries, that would be felony fraud or its equivalent.

I think in some asian countries, if your company goes bankrupt you go to jail.
23  Economy / Service Discussion / Re: Gox.com could come back if it was insured on: February 25, 2014, 07:04:20 PM
The insurance for that other wallet was 3% a year.  That's a lot, but it's an option.  Maybe an insurance company is bringing in their own staff to take over mt gox.  Maybe this company buying it will pay for any missing bitcoins or offer free insurance and make money on trades to cover the insurance for 1 year (big ifs).

As for the loss.  I'm sure they have a record of each customer and what amount they should have.  If they still have the coins or money, they can give it back to these people anytime they want or send it to an address they give them.
24  Economy / Service Discussion / Gox.com could come back if it was insured on: February 25, 2014, 06:34:06 PM
Like that wallet backed by loyds of london.  There's still a chance MtGox still has everyone's money or 90% of it.  They probably didn't have enough time to re-write their software, so they stopped all transactions.  Coming back insured by a company like lloyds of london is probably the only way anyone would ever use them again.

Now I know nothing of what's going on and I wouldn't put money on this, but I'm trying to figure out why they bought Gox.com
25  Economy / Service Discussion / Gox.com forwards to MtGox.com on: February 25, 2014, 06:29:39 AM
So I assume it is true that they bought it and add cred to that leaked paper?  Well I guess you could just forward any site to mtgox.com if you wanted, wouldn't see the point though.
26  Other / Beginners & Help / Re: Computer guessing private keys, (I'm sure it's been answered but..) on: January 02, 2014, 10:12:59 PM
Yeah, I guess you couldn't restrict the client for the number of attempts.

Well can you make threads and test 1000+ keys at once with a client software?

Eventually you'll run out of memory on your computer for the amount of requests made, but each request isn't that much is it?
(Also I know my wrong, I just want to know why)
27  Other / Beginners & Help / Re: Computer guessing private keys, (I'm sure it's been answered but..) on: January 02, 2014, 08:26:57 PM
http://directory.io/
Look at the number of pages Smiley

Also, you can move your BTC around which will force anyone searching for your private key to stop and start over.
It really wouldn't matter if I moved my private key because who's ever searching is searching for a random private key, not mine in particular.  You could have 1000s of computers guessing random private keys.  If they get one right, maybe it's 5 cents or 5 million, who knows, but the odds will be better of just trying to guess a single address.

When I transfered  money from a paper wallet into blockchain, I just had to enter a private key.  That's it and it took all the money.  Even if it's a 1000 digit number, you can still have computers guessing.  Odds would go way down if there are 100 billion active numbers out there.
28  Other / Beginners & Help / Computer guessing private keys, (I'm sure it's been answered but..) on: January 02, 2014, 06:10:18 PM
Yeah, I know it would take a million years for a computer to guess a private key, but say in the future will money property.... there are 100 billion private keys.
From most of the it's impossible to guess a private key articles, they're talking about guessing 1 high value key.
What if you don't care which key you're trying to crack.  Don't the odds go way down cus there are 100 billion key possibilities?
I assume this is already answered, I'm just wonder the protection or if the odds are still astronomical.
29  Bitcoin / Bitcoin Discussion / Re: I'm chinese, I want to tell you the truth. on: December 30, 2013, 06:01:08 AM
Please list 100 phone numbers so I can call them and ask.
30  Bitcoin / Bitcoin Discussion / Re: I'm chinese, I want to tell you the truth. on: December 30, 2013, 02:12:10 AM
I've read your piece twice and I'm trying hard but .... I don't see the main point you are trying to make. Can you summarise a a bullet list?
Yeah, I can summarize the whole thing.  This guy thinks NXT is better than bitcoin and he thinks he knows what every single person in China is thinking.
31  Bitcoin / Bitcoin Discussion / Re: A country that embraces bitcoin early will have a lot of rich people later on: December 20, 2013, 08:59:00 PM
Really dan123 do you think country that accept bitcoins will be richest soon? In my opinion it would be in the dreams only after all it is a digital currency that is facing tough times from world powers. And how come you think so in the light of fact that it is one of the most volatile currency these days

Not the richest in the world, but they would gain a good amount of money from it.  You can trade based on current USD value.

How much do you think btc would go up if a small country announced it would use it as currency and back their dollars by it?  Would it hit $1 trillion market cap then?  Maybe?  Also at 1 Trillion market cap, it wouldn't be as volatile.  What if the leader of that country also invested 1 Million or more in bitcoins?  There are many selfish reasons why this could happen?  News like this would make the currency skyrocket.  What if a country announced it and then a month later said they're not going to do it.

Now what if they used litecoins or another?  Would that currency then overtake bitcoin?
32  Economy / Service Discussion / Re: Cryptsy Having a Bad Day on: December 20, 2013, 05:53:06 PM
I want to buy some worldcoins, but I don't trust Cryptsy.  Their website is nice, but there seem to be a lot of fraud complaints.
Who runs this coins-e.com?

I guess another question is does worldcoin solve some speed issues that bitcoin has, or would bitcoin just evolve to solve any future issues?
33  Bitcoin / Bitcoin Discussion / Re: A country that embraces bitcoin early will have a lot of rich people later on: December 19, 2013, 10:59:35 PM
Countries are not in the habit of engaging in foreign currency speculation.
Especially because it doesn't involve any wealth creation, only shuffling between those who bet poorly and those who bet well.

Oh no the 'trickle down' economists have arrived.

"Trickle down economics" aka "Voodoo Economics" were both terms invented and used by the Bush senior smear campaign when he ran against Reagan.

Well this isn't speculation.  If a small country made bitcoin it's official currency and backed some paper made bills with it, the price of bitcoins would skyrocket.  The 10 billion Market Cap of bitcoin might go up to a trillion on that news.
This could be enough of an incentive for a country (Or a group of rich people) to do this.

As for the poor countries obligations, if they can't pay people, they can't pay people.  What good is printing more useless money anyway.

You really need to understand the difference between assets and liabilities. A country's official currency is the unit of its liabilities. No country would ever want a hard deflationary asset as the unit of its liabilities. Ever heard of currency wars? The aim on these is to have the cheapest currency, not the most expensive.

Works the same (or similar) way for companies.
Let's say you are a company that makes software. You hire someone to develop a new app. If you agreed to pay them in bitcoins when the price was $10 and you have them a salary of 5000BTC, thinking that you would have $200k in revenue, and by the time you had to pay them BTC went to $1000, your company is bankrupt despite making your sales target.
Well until 1/2 the world money supply is in bitcoins, it would be the number of btc compared to X amount of dollars or something.  There's a company in poland paying their employees in bitcoins if they want. I'm sure it's done in a similar manner.
34  Bitcoin / Bitcoin Discussion / Re: A country that embraces bitcoin early will have a lot of rich people later on: December 19, 2013, 10:56:58 PM
As for the poor countries obligations, if they can't pay people, they can't pay people.  What good is printing more useless money anyway.

The "good" is that it allows them to confiscate funds from the populace via inflation (which is really really bad; but they keep on doing it)
Yes, but then no one will keep their money in that currency anyway.  People in these poor countries will keep their money in usd, euros or whatever.
By being the 1st country to do this, there's a good chance the bitcoin price will keep going up and they can even pay their workers less money as time goes on.
If they pay their government workers in their own currency, they have to keep giving them raises to keep up with inflation.

Yes, they won't control the money supply, but what's the use of printing money that no-one uses.  Their economy would be better off and if all major transactions were done in bitcoin, less fraud, faster transactions...  I'm not saying every small country will want to do this.  It only takes 1.  Or it could be a city that has it's own currency.
35  Bitcoin / Bitcoin Discussion / Re: A country that embraces bitcoin early will have a lot of rich people later on: December 19, 2013, 08:12:56 PM
Countries are not in the habit of engaging in foreign currency speculation.
Especially because it doesn't involve any wealth creation, only shuffling between those who bet poorly and those who bet well.

Oh no the 'trickle down' economists have arrived.

"Trickle down economics" aka "Voodoo Economics" were both terms invented and used by the Bush senior smear campaign when he ran against Reagan.

Well this isn't speculation.  If a small country made bitcoin it's official currency and backed some paper made bills with it, the price of bitcoins would skyrocket.  The 10 billion Market Cap of bitcoin might go up to a trillion on that news.
This could be enough of an incentive for a country (Or a group of rich people) to do this.

As for the poor countries obligations, if they can't pay people, they can't pay people.  What good is printing more useless money anyway.
36  Economy / Economics / Re: Fear will replace greed. on: December 18, 2013, 10:55:13 PM
The real value will come in another year or two when all these start up companies based around bitcoin make apps, transactions and wallets easier.
37  Bitcoin / Bitcoin Discussion / Re: A country that embraces bitcoin early will have a lot of rich people later on: December 18, 2013, 08:24:28 PM
Makes you wonder when the first serious bitcoin bank will start publishing notes? Before you jump all over me, thats not as crazy as it sounds, a bitcoin equivalent of the gold standard,
and bearer notes like UK pound note,still has the words 'I promise to pay the bearer...' So could work in practice.

That would solve one of the main achillees heals of BTC, the need for elecronic transfer. Of course common currency without fiscal/monetary union = disaster aka EU.
Yes, that's how small poor country could do it.  The government would exchange the paper bill for a bitcoin amount.  That would stop out of control inflation.
Of course that would mean the 'poor country' would need to have some foreign exchange with which to buy BTC to issue on notes. This is very similar to Greece, showing the difficulties when you run out of that buying power.

Also worth noting that money supply is only one of the contributers to inflation, so switching to BTC only helps, does not 'cure' runaway inflation.

This can all be figured out, but the country can back it's paper money with bitcoin.  One would bring the paper money up to a government office with key and the government would then transfer a bitcoin amount to the address.  As for what the country will buy with.  They will have the initial $100 billion they bought worth of bitcoins.  Back the money with that 100 billion.  They can't print more money unless they buy more bitcoins first.
38  Bitcoin / Bitcoin Discussion / Re: A country that embraces bitcoin early will have a lot of rich people later on: December 18, 2013, 06:37:33 PM
Makes you wonder when the first serious bitcoin bank will start publishing notes? Before you jump all over me, thats not as crazy as it sounds, a bitcoin equivalent of the gold standard,
and bearer notes like UK pound note,still has the words 'I promise to pay the bearer...' So could work in practice.

That would solve one of the main achillees heals of BTC, the need for elecronic transfer. Of course common currency without fiscal/monetary union = disaster aka EU.
Yes, that's how small poor country could do it.  The government would exchange the paper bill for a bitcoin amount.  That would stop out of control inflation.
39  Bitcoin / Bitcoin Discussion / Re: A country that embraces bitcoin early will have a lot of rich people later on: December 18, 2013, 05:17:44 PM
Take this case.
Rich country A buys $2 Billion in Bitcoin (Or how every much).  Gives $1 Billion to poor small country B.
Country B announces that Bitcoin is it's official currency.
This $1 Billion is now 10 to $100 Billion because of the news.

Rich County A who kept the $1 Billion in bitcoin just did some legal insider trading and made a ton of money.
Then poor country B is bankrupt because they won't be able to afford to pay for their obligations that will have skyrocketed in real terms compared to the country's GDP and therefore tax revenue.

What obligations?  They just got $100 billion.
40  Bitcoin / Bitcoin Discussion / Re: (Group-Buy) Small Country in Europe or sealand on: December 18, 2013, 03:58:58 PM
If you did buy it and make bitcoin the national currency, would bitcoin then have to be treated like a currency by governments?
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