Best case scenario: Bitcoin transactions are legal and will remain legal. Worst case scenario: Bitcoin transactions are illegal and will remain illegal and you will not only be taxed tremendous amounts retroactively, but also put in jail!
Correction, Worst case scenario: The entropy death of the universe comes hundreds of billions of years earlier than science predicts and we all cease to exist as soon as I post this response. |
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No. There's no such thing as "retroactively illegal", at least not in the united states. If the law doesn't exist at the time of the crime, you cannot be convicted for it.
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I find it funny that just over a week ago, $10 was the ceiling everyone was looking forward to, waiting anxiously for it to get that unbelievably high. Now, it's doomsday if we hit $10...
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If you define account as one wallet file, then no. Each address in a wallet is a single independent public/private keypair. There's no way to correlate two addresses without resulting to meta-information (having done business with both, tracking the transactions of both, etc.). You can find out how much is in each ADDRESS, but not how much is in the collection of addresses that a single person owns, since there is no way to know how many or what addresses he owns.
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Great thing about bitcoins is that there IS no way to print money for a stimulus package.  It'd have to be of the MARKETS choice, not the governments. |
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No. This is the opposite of a free-market. This is FAR from bottoming out. Just take a deep breath and relax.
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Sure thing! If you want a clearer explanation, send me a private message. And don't mind everyone else, they're just super apprehensive because we've been hit by the Trollpocalypse and a slightly tumultuous market. Granted, I won't begrudge a man his caution...
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1. its written BEFORE you post and unrelated to it. basicly you're right, but particular wallet-holding node is still trace-able. and thus - vulnerable. 2. if you reading something, please read. if someone provide you tactical/strategy example, take it as t/s example, not course of action/advice, if doctor say you "jump from WTC!", you should turn on brain AND memory, probably and etc and etc. 1) Fair enough. 2) I... could not understand a single word of that. |
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Could we just get their Bitcoin addresses (like PM trolls telling them you will donate), and then DDOS the hell out of them?? Then they will never receive money with the same wallet ever again, and hopefully leave here as well.
you're talk about serious criminal offense. It is a global network, there is no way to know if they are US based from their wallet address. its not SO global network. not yet. even not 100x from required size/flow. let alone activity status relevance to investigation initiation/success. point is, you never endager someone life, if he just make minor mistake, probably unintentional, right ? same with IT warfare - responding violently for bitching is almost same as hurting kids. of course, if trolls, does measurable damage, including society and/or health/lifes, its completely different business. 1) It's a moot point, see my above post. 2) A DDOS can't endanger someones life... Seriously, where did you go to tech school, because they should lose their accreditation. |
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You can't DDOS a wallet address. It's not an address on a network, it's simply a private key. I can create an address with some pen and paper calculations (would be rather hard, since I'm not a computer, but possible), and you could send money to it. I could, at a later date, inject that private/public key pair into my wallet and voila, I have ze monies. An address is just the "rights" to spend the money, not some kind of identifying IP address or somesuch.
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Search your address on block explorer. If the transactions are in a block, count how many blocks away from the current block it is and if you've got enough confirmations, I think you can safely give the buyer whatever you sold them and wait for your client to sync up later?
Thx. It's close.. but increasing so slow.. and ... Wait... so... I can transmit some BTCs first without having that confirmed amount in my wallet? (like sending money I don't have?) You don't actually have to confirm them at this point, because the coins, in the abstract sense, are there, your client just has to process the block-chain to realize it. You can try downloading the block chain from someone who already has it through a more direct route (HTTP, FTP, etc), it might be faster. I might be able to provide a mirror for you if you want. Just be patient. While bitcoin is in it's infancy, the client wasn't written for every day use. It's still not even version 1.0 yet. In the future, there are various solutions that have been discussed before that will allow pure "thin" clients that rely on a smaller block-chain in exchange for a higher amount of "trust". |
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Guys, why are you taking him seriously? Who lets you leverage bitcoins 60 to 1? No one, it's a joke. Chill.
Wait, there was an ounce of seriousness anywhere in this thread? How'd I miss that one? o.O |
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Will you make more bitcoins if we have a crash?
Sure, I'm always mining. |
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Guess you could just switch over to Eligius. They don't even use passwords.
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how could this happen? there should be a central authority to bitcoins regulating daily loss of maximum 5% per day!
Is not sure if joking. The exclamation mark suggests to me that he's trying to be funny, but I could be wrong... I wonder who he would want to be this central authority? Assuming that he isn't making a joke. I'll do it. Send me 5% of your bitcoins every day, and don't spend anywhere else. As long as you follow my instructions, I promise you won't lose more than 5% of your bitcoins per day. |
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The software keeps a virtual tally of your unpaid balance. Once this crosses 1btc, you're paid out on the next generated block, RIGHT there, in the generation block. The money never sits in some intermediary account held by the pool-owner. There's a lot less required trust, because while the pool owner can still shut down the pool before you get your "fair share" (aka virtual balance), HE doesn't get anything out of it. It's a very subtle and clever system, so I suggest you (or the developer) spend some time thinking about it to understand why it truly works, and I won't use a pool without it. Obviously, you can incorporate the 3% fees as just taking 3% off the top of the generation block to your own address. Eligius itself has no fees, but since your fees would be going to an actual cause, I might not mind as much.
The developer is interested in incorporating this (see here) but needs a little insight. Do you think you could answer his questions? Thank you!  Sure, have him send me a private message. I'll answer any questions I can, and any that I can't I'll refer you to someone who can. |
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If you ever wanted to test a closed source client you could put it inside an emulated environment, where it would look like real btc was at stake and such, but all emulated.
Good luck emulating 5000Ghash of mining power. I guess you'd just need to be patient. you would not have to, if would be like a brand new network inside the emulated environment. one issue i just thought of is if the client were to have an address hard coded in it that it sent btc to, but even if no one ever "claimed" it yet, the address would then be "created" and you would know the client is malicious. im not sure how secure that reasoning is, but there you go. There's something like this on a larger scale, called the Test Network. They use it to test various protocol changeover situations and such. It'd be interesting to see a project for a smaller, emulated environment on a single machine for client-testing. |
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Wow, such a simple idea, I love it. If you did block payouts like Eligius, I'd totally switch.
Can you please explain how the block payouts differ and why it's better? I'd be happy to refer your thoughts to the software developer if it is indeed a superior system. Thank you. Here's a block solved by the Eligius pool: http://blockexplorer.com/block/000000000000026210a972387c00e6db801346b32a815a996d698211d71a197cThe software keeps a virtual tally of your unpaid balance. Once this crosses 1btc, you're paid out on the next generated block, RIGHT there, in the generation block. The money never sits in some intermediary account held by the pool-owner. There's a lot less required trust, because while the pool owner can still shut down the pool before you get your "fair share" (aka virtual balance), HE doesn't get anything out of it. It's a very subtle and clever system, so I suggest you (or the developer) spend some time thinking about it to understand why it truly works, and I won't use a pool without it. Obviously, you can incorporate the 3% fees as just taking 3% off the top of the generation block to your own address. Eligius itself has no fees, but since your fees would be going to an actual cause, I might not mind as much. |
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Wow, such a simple idea, I love it. If you did block payouts like Eligius, I'd totally switch.
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The security of the Bitcoin system relies largely on the fact that it's open source. Is there anything to stop people from taking the critical aspects of the source code and creating a functionally legit application to compete with the open source client? If not, then as with all software, the popular choice could shift overtime, to non opensource clients, causing the control over the whole Bitcoin system to shift away from the public.
Correct?
I lost interest when you used the word "legit". All joking aside, yes, this could be a problem. It's a problem with any closed source application. Internet explorer could start blocking webpages it didn't like. It would make it vastly unpopular very quickly, but it could be done. It's more subtle with bitcoin, as the effects might be more subtle and take longer to get noticed. Solution: Don't use closed source clients, and hope that someone develops a really kickass open source client. =P |
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