Maybe we should wait for 420, he hasn't seen his grandpa for long!  |
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Please can we stay in 42 for a while? Everyone loves this number!  |
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socialism did murder about 160 million ppl world wide Chavez was a statist. It's Statism, be it in the form of State Socialism or State Capitalism, that's the problem. Churchill, Stalin, Mao, Mussolini, any Bush you care to name, Hitler, Obama, Thatcher, JFK, LBJ, FDR, etc.: all Statists. The problem with Statists is that they think the power of the State is only safe if the "correct" people are wielding it, no matter who they're actually raping, robbing and killing while they wield it. YES MA'AM! I thoroughly appreciate your sentiment and share it exactly. DROs 4tw ;-) And people wonder why we call the silly libertarians "minarchists." It's funny how at the beginning of last century people considered socialists and anarchists to be birds of a feather. |
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I'm not sure I understand his hypothesis. My take on China encouraging people to invest in gold is for them to one day confiscate all the gold to back the state currency. China has a huge gold market, it has been for a long time. Besides, I bet that CPC is invested in BTC itself, you guys have no idea how many of the high-level cadres believe in the "currency war" theory, and they seem to be particularly into the idea of IMF Special Drawing Rights as a global standard currency, probably they are open to other new ideas, and yes, they have got first-class finanical mathematicans/ analysts working for them. oakpacific, thanks for the input. I'm not in disagreement, but how much of this is just hearsay? Will China back their currency with gold in the next few years? What's you're source, on everything? Well, I didn't say China will back their currency with gold, just that buying gold has never been a problem here. The BTC part is of course pure speculation, other than the fact that the demand for BTC is obvious, as has been pointed out by the OP, the "currency war" part could be verified by many media reports out there(I can look them up if you want), the IMF SDR part is really old news, they openly proposed it, the report was everywhere. |
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Seconded  I don't really see how it can go down - Bitcoin seems to have evolved and many of the problems such as hackers taking off with very large chunks of BTC from exchanges and crashing prices seem to be a thing of the past ... I agree with the $50 prediction. As for the hacking of exchanges, unfortunately as the price of bitcoin increases, so does the incentive to hack exchanges. So I think we are actually more likely to see exchange hacks/thefts/inside jobs in the coming weeks. If you think about it, bitcoin itself is ridiculously simple to secure, though tedious. What needs to be done, that's tedious, to secure it? Just a curiosity. See the offline transaction part. |
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I'm not sure I understand his hypothesis. My take on China encouraging people to invest in gold is for them to one day confiscate all the gold to back the state currency. China has a huge gold market, it has been for a long time. Besides, I bet that CPC is invested in BTC itself, you guys have no idea how many of the high-level cadres believe in the "currency war" theory, and they seem to be particularly into the idea of IMF Special Drawing Rights as a global standard currency, probably they are open to other new ideas, and yes, they have got first-class finanical mathematicans/ analysts working for them. |
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I think Magicaltux maybe the only one with access to the key.
Now *that* would be disastrous. I don't even talk about an accident leading to a loss of 100mil; let's say people are kidnapped left and right for 1% of that amount. However many parts you split your key, you could still just randomly kidnap anyone of the keyholders and coerce all the others to cooperate to give you the money you want, this also applied to traditional banking, you simply can not eliminate the risk of kidnapping. If the kidnapper can not coerce anyone else but MT, then they need to have physical access to the offline computer to finish the transaction(I meant he got the key to access the computer, not that he memorized the private key itself). |
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Most big players are not holding much in hot wallets, so this part is secure. What worries me is cold storage. Afterall, it is a piece of paper. All it takes is one quick smartphone snapshot of the paper and boom, all gone. And when a big company and multiple physical locations are involved, too many people can have a brief opportunity.
So split key systems are a total must. I only heard about split-keys from coinlab so far.
Nothing too difficult, you just tear the paper in half, and put it in two secure storage places, also everyone has access to the storage place should sign a NDA. Doubt they will think it's something worth further ado. Yeah, because an NDA will stop someone from walking out the door and onto a plane with 50,000 coins. =P NDA is just an additional safeguard, besides, where are you gonna sell it, other than Gox? PS: I think Magicaltux maybe the only one with access to the Gox key, and I don't think they use a paper wallet, an offline computer with access control is more likely. |
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I recently came across some Wenzhou businessman invested in bitcoin, hmmm..........   Are you serious? That's really huge! Well I wouldn't say it's huge yet, but I also have enough confidence in their business sense, once some of them get to know it, they could eventually figure out its potential. And as we all know, the price of pretty much anything they go after will............ |
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Where is proudhon when I need him?   |
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I recently came across some Wenzhou businessman invested in bitcoin, hmmm.......... |
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Most big players are not holding much in hot wallets, so this part is secure. What worries me is cold storage. Afterall, it is a piece of paper. All it takes is one quick smartphone snapshot of the paper and boom, all gone. And when a big company and multiple physical locations are involved, too many people can have a brief opportunity.
So split key systems are a total must. I only heard about split-keys from coinlab so far.
Nothing too difficult, you just tear the paper in half, and put it in two secure storage places, also everyone has access to the storage place should sign a NDA. Doubt they will think it's something worth further ado. |
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Seconded I don't really see how it can go down - Bitcoin seems to have evolved and many of the problems such as hackers taking off with very large chunks of BTC from exchanges and crashing prices seem to be a thing of the past ... I agree with the $50 prediction. As for the hacking of exchanges, unfortunately as the price of bitcoin increases, so does the incentive to hack exchanges. So I think we are actually more likely to see exchange hacks/thefts/inside jobs in the coming weeks. If you think about it, bitcoin itself is ridiculously simple to secure, though tedious. |
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piramida, you repeatedly surprise me with nice fore-/insights.
thanks, it's easy to be right when the price goes in a straight line just wish I spent more time thinking about what bitcoins really is back in 2010, dismissed it as monopoly money first and will never forget this silliness. I dismissed it as "probably broken software" in May 2010 because my laptop hadn't mined even a measly 0.01 BTC which I would've expected. Stupid me for not looking harder and discovering the smallest unit to mine was a block worth BTC 50... You guys would feet better if you come to think of what an early adopter who dumped tens of thousands of BTCs back in 2011 would feel now. Seriously, this is how Bitcoin and free market combined to achieve fairness of the distribution, we are all just pawns of the history. |
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it will drop to $39 by the morning
and $38 the next day
Told ya ,.... see those walls? They're mine For real? Read his past posts, check for yourself if they are trolls or not. |
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Someone really liked that news "Walden Schmidt, Occupation: Internet entrepreneur" Checking out EUR/BTC on bitcoinity, seeing all those 31.*** orders bringing me back to the time before we broke 2011 ATH. |
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Wonderful! I like the electrification alert! |
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 I love bitcoinity |
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You know what really pissed me off: that mtGox can't just get his shit fixed! Don't they have enough money by now to hire someone who can code this shit so it actually works like most of interesting times?
i feel you. this was a low volume rally until like an hour ago I think this song is fitting now....... http://www.youtube.com/watch?v=kQZ64NRsgTQohhhhhhhh gosh i just woke up
see aboveYeah, time for a new "transparency" report from Mt.Gox. They're armed with only two 64cores  . Enough for a Sundays, but when the price hits the fan, you feel the shit. I want optical cables and 4096cores, NOW! XD Too long ago...: https://mtgox.com/press_release_20120201.htmlJust ATM I am thinking about asking if anyone knows when Gox is gonna publish another report, I want to know how much fiats is on the site, oh maybe they just can't keep up counting it.... |
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It's becoming some kind of a show........we are no longer investors, we just......watch.
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