+1

Just don't allow DEPOSITS via Dwolla.  Or you will be doomed.

You can vote twice to cover your BTC and USD amounts.  I know, this is not scientific, just a rough poll. 

Per use I am correct.  They give away about 1/4 of a penny per use.  You give away about 1/20th of a penny.  I tried your site out to see if it works, and it does.  But I do not go back to dailybitcoins.org for 1/4 of a penny, I am not going to go to yours for 1/20th of a penny. 

You should tweak the model, offer larger random payouts, or do something more unique then just more payout chances per day.   

It seems like dailybitcoins.org gives away 5x what you do as a MINIMUM. 

The 6990 is a better card depending on application.  The 7970 is more power efficient, the 6990 can do more hashes.  Gaming should be better on the 6990 of noise is not an issue. 

In the states, the issue is usually not with the IRS.  You do not pay income tax when you sell a car for less then you paid for it.  The issue is with the state government and the tax is based on the value. 

From our DMV in Maryland. 
An MVA “Bill of Sale”

    A notarized MVA “Bill of Sale” is needed if the sale price is less than the vehicle’s book value and the vehicle is 7 years old or newer. Please call the MVA’s Customer Service Center at 1-800-950-1MVA (1682) to verify the vehicle’s book value.
    If a notarized “Bill of Sale” is not presented and the purchase price of the vehicle is within $500 of the retail value as shown in the National Publication of Used Car Values, MVA will accept the purchase price as completed on the title.
    An excise tax will be charged on the basis of 6% of the vehicle’s book value or 6% of the purchase price on the notarized “Bill of Sale” for vehicles 7 years old or newer. For older vehicles, the tax is calculated on the purchase price. Maryland’s minimum excise tax charged is $38.40, based on a minimum value of $640.

Works great when you ignore electricity cost and difficulty increases.   You might get free power but you don't get to ignore difficulty.

Also hardware never fails?

Right now, if you own GPU's and your power is below 12c a KWh leave gear on, or if you own FPGA's leave them on. 

If you do not own, buy coins or invest in the BTC economy in other ways.

 

My guess is that before the FIRST loss hey had a bunch of BTC due to the quite high fees they charge.  After the loss they were probably doing fractional reserve and rebuilding but had enough to cover what people wanted to withdraw.  My guess is now they do not have enough to cover the expected withdrawals and would need to 'invest' real money into bitcoinica to re-start it.

Agreed.  I think about 25% of mining is botnets. 

Yes.  If the machine needs to be re-booted, a password needs to be typed in to get it to boot.  This would be inconvenient if the machine was unreliable, but would work fine if the machine was reliable.  The password could be typed remotely through a secured connection of course. 

Keep a smaller wallet online.  So the transaction volume is great?  Ok.  You can re-fill the machine by sending coins to it from a secured offline machine periodically.  Large withdrawals get delayed.  Outgoing transactions should be checked by a human 2x a day looking looking for any loss. 

If one of your businesses was broken into and $90,000 was stolen, would you continue to allow customers in the door immediately after?

I should thank the owner for making me feel burned pretty early on (over a small amount).  I had $2 over there. 

It is one thing to sell fake (counterfeit) headphones that work and may be lower quality.  It is another thing to sell 'fake' thumb drives that loose peoples information/photos.   That is really scummy. 

It is also a lie that it is impossible to tell through software.  There are a number of ways of telling, the simplest is to load a bigger file then the real storage capacity.  If the file fails to work, its pretty obvious. 

You gonna graduate up to fake brakes, drugs or aircraft parts next?

That makes no sense.  To short on Bitcoinica you need to have some money in the system.  While in a big swing your account could go negative, most shorties would not have a negative balance.  They have lost funds that if they want to recover they would need to buy more bitcoins.  They may choose not to, but shorting on bitcoinica could only drive down investor sentiment but it can not actually create more bitcoins.  In the stock market, because of the three day rule, people can actually create more stock for three days.  

I do believe this incident will lower the price of bitcoin, mostly due to sentiment and due to the thief potentially selling.  But it will not cause a price drop due to the lack of short buybacks.  

I would also like some for free.

Receiving Dwolla (when it comes) from MTGOX and trusted sellers should be safe.  It is unlikely that MTGOX will reverse the transaction. 

Dealing with unknown Dwolla buyers can be a different story.  Exchange after exchange has lost money due to Dwolla fraud.  Now that most exchanges are not accepting Dwolla deposits the fraudsters need new targets.  By stealing details of a bank account and linking it to Dwolla the fraudster can get away with a bunch of payments before they get reversed.  This message is not directed at anyone specific or any specific buyers or sellers. 

Buyers who have been around for 90 days using Dwolla should be a pretty safe bet. 

And that is why my bitfloor account sits quietly.  I am not sure of the point if you need to use mtgox as the withdraw>dwolla mechanism.  Why not just use mtgox in the first place.  Dwolla should be allowed as a WITHDRAW mechanism.  If they do it faster then mtgox, then they will thrive. 

Why do exchanges try to take deposits in Dwolla and get burned just as bad as Paypal?  Then they sour and stop using them entirely.  They need to allow Dwolla only for withdraws, and shuttle money to their Dwolla account and keep it going.  Charge us for this service.  We want it.  There is NO RISK in using Dwolla only for withdrawals. 

You are probably going to have to pay a premium until mtgox speeds up their Dwolla processing. 

For me, paypal would be charging 37 cents on a $2.50 transaction (a single bumper sticker shipped in the US), bit-pay charges me 2.5 cents.  Paypal on small orders is 10x as expensive as bit-pay.

I actually have shipped out orders that cost $1.48, so paypal would be charging about a 20% fee on those orders.  Screw paypal. 

The video does not work for people using noscript.  Even with scripting allowed to the screwbanks.net page, it still needs a few more sites to be 'allowed' to play.