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22601  Bitcoin / Bitcoin Discussion / Re: Bitcoin, Spouses and Divorce on: December 05, 2013, 09:12:49 AM
One word: prenup. Anyone who won't agree to a prenup clearly doesn't respect your property rights, and if they don't respect your rights, then they don't respect you as a person, so why the fuck are you even marrying them?

The problem with prenups is that in most of the EU nations, lawyers can tear down the agreement and make it near worthless.
22602  Bitcoin / Bitcoin Discussion / Re: Don't panic, China is NOT banning bitcoin on: December 05, 2013, 09:09:19 AM
It is looking quite worrisome to me:

Quote
At this stage, financial institutions cannot denominate services and products in bitcoin, cannot trade bitcoin, cannot run bitcoin exchange, cannot provide bitcoin related services, cannot store bitcoin for clients, cannot establish bitcoin trust or fund, etc.
22603  Bitcoin / Bitcoin Discussion / Re: Bloomberg : BREAKING: China bans financial institutions from Bitcoin transaction on: December 05, 2013, 08:26:08 AM
Yes... it is real. The Chinese central bank warns banks against BTC transactions.

http://in.reuters.com/article/2013/12/05/china-bitcoin-idINDEE9B405S20131205
22604  Bitcoin / Bitcoin Discussion / Re: Watch the tracking of the sheep marketplace thief in real time on: December 05, 2013, 08:19:31 AM
they both deleted their accounts.. too much heat. they are probably figuring out where to run to now  Cheesy

then again, if it were me and i was truly innocent, i'd still be scared as fuck.

The evidence against him is overwhelming:

1. He owns the hosting service for the sheepmarketplace.com VPS server

2. He was the earliest known promoter of SMP (1 February 2013), and recommened SMP & BMR over Silk Road (11 April 2013)

3. He is a C++ QT Nette Framework Czech developer who runs Ubuntu, exactly like the SMP developer

4. He has complained about the memory demand of `bitcoind` on a VPS server, and discussed the difficulties of functionality like email from hidden services

5. Tomas or his girlfriend are active users of Tor, as evidenced by screenshots of their computer

6. It’s not clear what Tomas’s current job is, but it is clear that as of October, he was working on an e-commerce site which was having problems with buggy accounting of deposits

7. He posted a .htaccess file which has the same (buggy) functionality as that of SMP

8. He is an accused Bitcoin scammer
22605  Bitcoin / Bitcoin Discussion / Re: Watch the tracking of the sheep marketplace thief in real time on: December 05, 2013, 08:08:00 AM
i posted it a few days ago in a different thread.. his name was tomas something, and he had a picture of himself grabbing a girl's tit. for your information, his gf had a pretty nice rack  Cheesy

i think he deleted his account, since it's showing "page not found."

Got it. The guy's name is Tomáš Jiřikovský and his girlfriend is Eva Bartošová. But they are claiming that someone is trying to frame them and they don't have anything to do with SMP.

whoa, so the admin was doxxed.. if someone else could find out his identity, i'm sure the FBI knew about him already as well.

here is his facebook https://www.facebook.com/nadsamec

this guy has a lot of money now, but he's also fucked.. so many druggies and vendors are pissed and want their damn money back. LOL do you guys see his profile pic? he's grabbing the girl's tit in the 3rd picture  Cheesy
22606  Bitcoin / Bitcoin Discussion / Re: Bitcoin, Spouses and Divorce on: December 05, 2013, 07:57:51 AM
I was listening to a Bitcoin podcast the other day and the speaker mentioned that one person had written to him asking for advice - his wife had heard about Bitcoin in the mainstream media and the price rise and was pressuring him to cash it all out immediately or she would leave him.

The first mistake he made was that he gave all the details of his BTC stash to his wife.

BTW... if she is going to leave him if he doesn't cash out all his coins, then I think she will do that even if he does everything as per her orders.

Men like pretty women, and women like wealthy men.  Grin
22607  Bitcoin / Bitcoin Discussion / Re: Watch the tracking of the sheep marketplace thief in real time on: December 05, 2013, 07:53:07 AM
i've even seen this guy's facebook page. somehow i suspect life is going to be very not fun for him soon, if it's not already.

You mean his "real" FB page? Can you give me a link?

I thought that his identity was not known... except for the fact that he is from the Czech Republic.
22608  Bitcoin / Bitcoin Discussion / Re: India = massive potential on: December 05, 2013, 07:50:08 AM
can we just expand this to "any country that has a fucked up economic/financial system, which is basically the entire world."

Well.... In democracy, the ruling political parties are forced to take up more and more "populist" measures. This is the case everywhere, be it the US or India.

As a rule, in a welfare state less than 10% of the population will engage themselves with productive activity. The remaining 90% will be dependent on this 10% to give them means for living.

Take India's case for example. Out of a population of some 1,250 million there are only around 33,739,124 (33.7 million) income tax payers. A very large part of the population is dependent on subsidies and handouts.

The challenge for the Indian government is to feed the remaining 1,216 million with tax extracted from the 34 million. Now there is a delicate balance here. You can't squeeze the 34 million too much (Atlas Shrugged like situation will emerge). And you can't lower the tax beyond a certain point (you'll lose votes from the 1,216 million).

When the balance is altered in favor of the productive population (by reducing subsidies, benefits.etc), the government will collapse.

When this balance is altered in favor of the unproductive population (when government punishes the productive population with heavier taxes), the financial system will collapse (as it is currently happening all over the world).
22609  Other / Beginners & Help / Re: why are devcoins so cheap on: December 05, 2013, 07:40:08 AM

no cap. 180,000,000 per round (3-6 weeks based on hash rate -- last couple rounds have gone quicker so i suspect hash rate has risen). 50,000 coins per block, so yes, price will naturally be lower than coins with lower supply. the intent is longterm sustained funding of open source development, with a large scope in mind.


Some sort of limit is there.. as only 180 million can be minted per round... But since the supply does not thin down as time progresses, I don't think that the demand will increase.
22610  Other / Beginners & Help / Re: Is Blockchain.info safe? on: December 05, 2013, 07:37:39 AM
If you are using blockchain.info, I'd also install their browser extension to be sure that the javascript on their page hasn't been altered. You can find it: here. (Past the annoyingly large image.)

The extension is quite useful. I was unaware of it earlier.

It's always a risk storing BTC on an online wallet, go for cold storage/paper wallet.

Are paper wallets 100% safe?
22611  Bitcoin / Bitcoin Discussion / Re: Watch the tracking of the sheep marketplace thief in real time on: December 05, 2013, 06:15:49 AM
If he does coin-mixing (more than once) will it be possible to track him?
22612  Bitcoin / Bitcoin Discussion / Re: Bitcoin simply cannot replace fiat on: December 05, 2013, 06:13:59 AM
Are we talking global replacement of fiat

if we are I cannot see the 4 billion people who are poor and do not have a smart phone or pc being able to use a crypto currency

Not in the near future. But how can you be so sure that by AD 2100, not everyone will have access to internet?

Also, if BTC becomes mainstream, third party companies will spring up (just like today's banks) who will make the transactions easier.
22613  Bitcoin / Bitcoin Discussion / Re: India = massive potential on: December 05, 2013, 06:11:20 AM
At the airports there are signs saying gold imports are limited. If you check Google News you can see people getting arrested for bringing it in and not declaring it. I've read that the rate is about $80-$120 more per ounce in India.

Gold is more expensive in India because there is a flat 10% import duty (and additional VAT, which is changes from state to state). So the lowest price for which you can get gold in India will be 10% more than the international price. The government seems to be cash-strapped, after undertaking a lot of populist measures (elections are only a few months away).

There is a chance of change in the government after the 2014 elections. Everyone is pretty occupied with the upcoming elections and no one is bothering about the BTCs.  I think the regulation scene will become clearer only after the elections.
22614  Other / Beginners & Help / Re: why are devcoins so cheap on: December 05, 2013, 05:08:14 AM
200,000,000 new Devcoins are generated every month. Much more than BTC, LTC or any other altcoin. That's why the price is so low.
22615  Other / Beginners & Help / Is Blockchain.info safe? on: December 05, 2013, 04:25:36 AM
My Blockchain.info wallet is backed up with strong 1st and 2nd passwords, and 2FA. Is there a chance that it can be hacked and the coins stolen?

Also, the site regularly sends Wallet Backup in AES encrypted format. If my email gets hacked, can the thief steal my coins using this backup?

I have taken the backup using the paper wallet. Is there a need to take any other backup?
22616  Bitcoin / Bitcoin Discussion / Re: IT pro says he threw out 7,500 bitcoins, now worth $7.5 million on: December 05, 2013, 03:57:59 AM
so disgusting, and I thought my situation was sick.. I sold 65btc a couple months back for 8k.. could have got 65k.. sigh

You shouldn't think about it too much. At least you got 8K in hard cash. Think about those unfortunate people who haven't heard about BTCs yet.

In the Hindu mythology, there is a story ( told to me by one of my friends - an early BTC adopter).

A few centuries ago, there was a King who ruled a small region somewhere in Central India. Warfare was frequent with his neighbors. During one of his war campaigns, the King and his entourage had to cross through a dense forest. It became dark, and the King ordered his companions to station themselves in a nearby cave for a few hours rest. Since it was not known previously that they won't get back to their homes before the dusk, no source of lighting was carried along.

In some regions inside the cave, the people could sense small sharp stones. They asked the King (to whom the terrain was familiar) what those were. The king refused to answer. Instead he just said "You will be disappointed later if you pick some of these stones and keep them with you. Similarly, you'll also be disappointed if you don't pick any of those stones."

They stayed in the cave for a few hours, before deciding to proceed towards the Kingdom. They reached their destination before the sunrise. There, they had the surprise of their lives. The stones which they had picked up were diamonds. Those who picked up those gems were disappointed that they didn't picked more of 'em. Others were cursing themselves for not picking any.

So... who should be more disappointed.... Someone who got 8K from his BTC trading or someone who doesn't even have $0.01 from it?
22617  Bitcoin / Press / Re: [2013-12-04] CNN - Ron Paul: Bitcoin could 'destroy the dollar' on: December 05, 2013, 03:46:04 AM
I don't think that BTC is posing a threat to the fiat currencies. But it is a threat to payment services such as VISA/Master and Paypal.

In the long term (and in an optimal situation), we will see BTC emerging as the preferred payment mode for the online purchases. On the other hand, fiat will maintain its hold on all other transactions.
22618  Bitcoin / Press / Re: [11/27/2013] - What goes up must come down - NYTimes on: December 05, 2013, 03:41:38 AM
Hmm... I don't agree. I think the price will increase further in the coming weeks.

The reason is:

Most of the early bitcoiners have made their share of "profit booking" at $1,000 levels. I don't think that unless the BTC goes above $2.5K we will see any significant selling from this segment.

On the other hand, although the initial enthusiasm from China has waned a bit, I don't think that the demand has dipped significantly.
22619  Alternate cryptocurrencies / Altcoin Discussion / Re: [2013-12-01] Bitcoin-Litecoin Ratio Returns to Historic Norm on: December 05, 2013, 03:04:00 AM

in the long turn it should be 1/4 of BTC

Most of the current demand for LTC comes from the Chinese. When they realize that the LTC is not as good as the BTC, there will be sudden (and sharp) price crash.
22620  Bitcoin / Bitcoin Discussion / Re: Reasons a business should accept bitcoin on: December 05, 2013, 02:55:49 AM
I don't think retail business will adapt to BTC quickly. But BTC is very convenient to online stores, and online merchants whose clients need high level of anonymity (porn, extremist organizations.etc).

In general, the advantages are: Anonymity, Ease of doing transaction, Low fees, No extra charges for currency conversion.etc
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