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201  Bitcoin / Bitcoin Discussion / Re: What's the maximum amount of bitcoins you ever held? on: February 09, 2014, 04:44:20 PM
Do you want numbers, or war stories?
For numbers, you would have posted a poll, with choices e.g. btc<1, 1<btc<10, 10<btc<100, 100<btc<1000, 1000<btc etc.
But you didn't do that, so it looks like you prefer narratives.
202  Economy / Speculation / Re: If the whales let the price drop to <$400 they are stupid on: February 09, 2014, 02:41:58 AM
I think we have pretty solid support at about $500, if you look back a few months.
203  Bitcoin / Bitcoin Discussion / US post office bitcoin exchange on: February 08, 2014, 09:09:38 PM
"The USPS... envisions offering... a bitcoin exchange"
Read the NY Times article:
http://www.nytimes.com/2014/02/08/opinion/the-post-office-banks-on-the-poor.html?_r=0
This is not such a stretch.  In Japan, for example, the post office manages savings accounts.
204  Bitcoin / Bitcoin Wallet for Android / Re: how do you recover from unconfirmed tx? on: February 04, 2014, 10:56:10 PM
Ok.  Thanks.
205  Bitcoin / Bitcoin Wallet for Android / how do you recover from unconfirmed tx? on: February 04, 2014, 05:47:54 AM
I had .6421 btc in a Schildbach wallet, and sent .642 to this other address I own:
1HJZKopzU17Yu1dbbVqvk54FjXBzXFXKYy
The tx is falling back in the queue very far.  
Expected confirmation time on block chain.info has gone from a few minutes to many hours.
Looks like it will never confirm.
How can I get this coin back?
Edit:  this is strange, position in queue suddenly dropped from thousands to a few hundred and est. conf. fell from 20 hrs to 23 minutes.
...and now it's falling behind again. 
206  Bitcoin / Bitcoin Discussion / Re: GUIDE: Securely storing large amounts of bitcoin (brain wallet/paper wallet) on: February 01, 2014, 02:44:43 AM
Brainwallets with human generated passphrases are a bad idea. Doesn't matter if it's offline or online they are just a bad idea period.

Why ?

Rainbow tables, among other things.
Passphrases have a vulnerability many orders of magnitude greater than the ordinary passwords you are accustomed to using for your email accounts, online banking and such.  I won't go into the reasons here.
Passphrase strength is a function of entropy.  The concept of entropy can hardly even be applied to a passphrase generated by the human thought process.  Entropy applies to symbols (words, in this case) selected at random from a pool of such elements.
Taking diceware as an example, you have a pool of words (I think it's 7776) and select words from it randomly using dice throws.  There's some simple math you can use to calculate the number of bits of entropy you get by selecting x number of words from a pool of a certain size.  If you are serious at all about wanting to educate yourself, protect yourself and your money, then research this.  The information is all there, starting with a google search.
Using a random word selection process as described, you will know exactly how strong your passphrase is.  It is a function of the number of words in the pool, and the number of words in your passphrase.  Math doesn't lie, and it doesn't deceive you.
You can, however, deceive yourself if you imagine that selecting a passphrase through some flabby cognitive process has any rigor, strength or protective value.
207  Bitcoin / Development & Technical Discussion / Re: Is it possible to create a bounty address? on: January 30, 2014, 05:46:45 PM
Can I send btc to get the secret, or have you now abandoned this idea?
208  Economy / Speculation / Re: Mystery Chart Says to Buy Btc now and sell in ~115.2 Days ( .1 BTC Reward) on: January 30, 2014, 05:31:24 PM
well, if its right, its going to drop down to about 550, then go up, back down again in about 3 weeks, and then hover around 800 till what looks like the next run in 45 days+

who knows. kinda creepy though.

You arrived at that extrapolation just from studying the chart, apparently.  I'm having trouble gleaning enough information.  What do you see?
209  Economy / Speculation / Re: Bitcoin overvalued or ahead of schedule? on: January 30, 2014, 03:19:29 AM
The usual S-curve would only look S-shaped in a linear chart (like BTCUSD does). In a log-chart the S-curve looks mostly linear, as its steep-rise phase is determined by exponential growth.
The s-curve or logistic function is just tanh by another name (merely scaled and shifted).
Anyway, take the log of the logistic function and this is what you get:
http://m.wolframalpha.com/input/?i=y%3Dlog%281%2F%281%2Be%5E%28-x%29%29%29%2C-10%3C%3Dx%3C%3D10%2C-10%3C%3Dy%3C%3D1&x=11&y=7
Right now bitcoin is in the part of the curve on the left, where you see the sloping blue line.
Exponential growth won't last forever.  It can't, because the number of potential users and the amount of wealth in the world is finite.
210  Economy / Speculation / Re: Regards to Argentinian crisis - why isn't Btc skyrocketing? on: January 26, 2014, 05:51:13 PM
PayPal is too risky because of chargebacks.
You are right.  I was selling to the same guy I dealt with in person down in Argentina.  I trust the guy. 
Dealing with someone you haven't met would be unwise, unless you go through escrow.
211  Economy / Speculation / Re: Regards to Argentinian crisis - why isn't Btc skyrocketing? on: January 26, 2014, 04:35:16 AM
I see comments on this thread which don't have much connection to reality.   I've been to Argentina a couple of times and traveled around the country a little, and recently I attended the bitcoin conference in Buenos Aires.  I've exchanged dollars for pesos at "blue" market cuevas in Mendoza and BA, and I've sold bitcoin in Argentina face-to-face.  After I returned to the US, I sent some bitcoin to an Argy friend and he paid me through paypal.  By the way, this is a good way to get btc to people in Argentina.
A theme I notice in this thread is that the Argentinians are somehow self-destructively passing up an obvious opportunity to escape financial disaster.  But think:  how many Argentinians have ever heard about bitcoin, let alone have a clue about it?  I've met people here in the States who never heard the word "bitcoin" until I said it to them.  As for myself, I first noticed news items about bitcoin several years ago, but I never thought much of it.  Because really, why would I?  Why would anyone?  Someone can read a news item about bitcoin or hear it mentioned by a friend, but that doesn't mean they will understand it.  It was not until about eight months ago that I started to see the power of bitcoin.  And I am pretty well informed, I keep up with current events, I have an engineering degree, but it took me a long time to see.  Keep that in mind when you feel like blaming people for not understanding about bitcoin.  Everybody isn't a computer nerd.
If you are immersed in the culture of cryptocurrency, it's possible to develop a parochial mindset.  You may see what others don't, but at the same time you are wearing blinders.
212  Economy / Trading Discussion / Re: Could this strategy to make small profits every day work? Am I missing anything? on: January 25, 2014, 11:27:28 PM
Your have formulated a strategy that will work if btc trades in the narrow 800-840 range.
It's all but certain that the price of btc will make a move not accounted for in your scenario, nobody knows when.
Clearly, you haven't covered all the bases.
213  Bitcoin / Bitcoin Discussion / live webcast of New York bitcoin hearings on: January 25, 2014, 05:21:07 PM

Scheduled for 10 am Tues and Wed
www.totalwebcasting.com/view/?id=nysdfs

Had to type the url.  I can't use chrome android paste function here.  Press and hold, a paste button should pop up, but it doesn't work here.
214  Other / Beginners & Help / Re: Best way to sell btc to polish account. Anonymity? on: January 12, 2014, 11:51:00 PM
Sanos, witamy na forum.
I don't know whether you would be better off using bitstamp or btc-e, but I'm guessing those are your main choices.  And there's always localbitcoins.com, of course.
After you have spent enough time on the site to use the other forums, you can also go to the polski forum. 
215  Other / Beginners & Help / Re: Hello, TheBatIsBack on: January 12, 2014, 11:39:03 PM
Welcome all.  Do youse guys own coins?
216  Economy / Economics / Re: How and why to hold bitcoins in your Roth IRA (yes, you can do it today!) on: January 06, 2014, 03:50:14 AM
Somebody in the bitcoin community needs to set up an IRA custodian specializing in cryptocurrency that doesn't charge an arm and a leg.  Is anybody out there listening?
217  Economy / Economics / Re: How and why to hold bitcoins in your Roth IRA (yes, you can do it today!) on: January 05, 2014, 11:53:00 PM


A lot of custodians will let you open up an IRA or Roth and hold alternative assets, gold and real estate are the two most popular but bitcoins are usually allowed.  Check with PENSCO, Entrust, & Equity Institutional as starters.   One or more of them should be able to do this for you.

This can be done.  I hold most of my bitcoins in an IRA.  I did it from rollover from a 401k account.
Do you control the private keys?
218  Economy / Speculation / Re: To Roth or not to Roth? on: January 05, 2014, 11:47:00 PM
You're not allowed to withdraw contributions early from your Roth or you will pay a penalty, but you can take out gains at any time without penalty or even paying taxes on them.  There's a form you have to fill out on your federal taxes so the only downside to redeeming gains is a bit of paperwork.
219  Economy / Economics / Re: How and why to hold bitcoins in your Roth IRA (yes, you can do it today!) on: January 05, 2014, 06:10:40 PM
This hits very close to home.
I'm in my late fifties, and started buying bitcoins less than a year ago.  Unfortunately, I made redemptions from my Roth IRA's in order to buy the coins.  Now I have over 100 btc:  in dollar value, most of it's capital gains.  It will take quite some time, at $6500 per year, to put this 100 btc into IRA's; in fact, with btc growing so fast, I may never catch up!

Now, I didn't liquidate my IRA's completely and I still have a substantial amount of dollar-denominated assets in them, so my  present strategy should be to get a Roth LLC going as fast as possible and roll over my Roths into it.  At some point I have to buy btc with those funds; I'll have to go back and reread this thread and do some more research about exactly how that works under the law.

Say I get my IRA LLC set up, roll over a bunch of money into it, and then buy bitcoins.  From coinbase, for example.  Then I may want to take them out of coinbase and put them someplace where I control my own private keys.  Like a paper wallet or a brain wallet.  That will mean the btc effectively disappears from view.  Would that be a problem?

edit:  Just found this:  IRS regulations require that either a qualified trustee, or custodian, hold the IRA assets on behalf of the IRA owner (wikipedia on self-directed IRA)
and this, on using an LLC:  "In short, the IRS has not expressly approved this practice and legal authorities have concluded this practice likely violates United States tax law.
The companies making money from using an LLC for a self-directed IRA are promoting the idea online and attempting to justify it under the law with pseudo legal research. However, our legal conclusion from our own legal research is using an LLC for a self-directed IRA is likely illegal."  (from http://thompsonhall.com/ira-llc-how-to-use-an-llc-for-a-self-directed-ira/)

So...   it looks like this thread has been pretty one-sided.  Lots of rah-rah enthusiasm, wishful thinking even, but not so much attention to real world facts.
If I can't be my own custodian, and it looks like IRS says I can't, what's next?  Looks like I have to find a "qualified trustee/custodian," and this custodian has to be willing to handle btc.
Best outcome would be to find some way to be your own custodian legally.  Has anybody really done due diligence on that?

another edit:  The self-directed IRA wikipedia page has this, which is somewhat reassuring:  
A number of tax attorneys believe that this IRA LLC strategy has been legitimized through a tax court case: Swanson v. Commissioner, 106 T.C. 76 (1996) and IRS Field Service Advice Memorandum 200128011, which mirrors the facts and confirms the Tax Court’s conclusion in Swanson.[21]
Since Swanson, the validity of the self-directed IRA LLC structure has not been questioned by the IRS.[22] In fact, on October 29, 2013, the Tax Court in T.L. Ellis, TC Memo. 2013-245, Dec. 59,674(M), held that establishing a special purpose limited liability company (“LLC”) to make an investment did not trigger a prohibited transaction, as a newly established LLC cannot be deemed a disqualified person pursuant to Internal Revenue Code Section 4975.

There's more stuff in a paragraph titled "IRA LLC law," which I don't really understand.
This is new ground.
220  Bitcoin / Bitcoin Discussion / Re: The Holy Grail! I wish I could kiss the author of Bitmessage on his face. on: January 05, 2014, 05:36:58 PM
Also the features that OT receipts provide which your customers will like probably aren't legal to give them when you're issuing receipts for USD.
Meaning you'd need money transmitter licensing for every State (in which you have customers)?
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