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2281  Economy / Service Discussion / Re: HOLY SHIT BTC-E.COM hit $40 per BTC! on: July 31, 2012, 02:12:26 PM
Everybody, please, repeat after me:

"The bitcoins I have on an exchange are not my bitcoins. They are an obligation of the exchange to pay me back said number of bitcoins."

If the exchange gets hacked and loses its bitcoins, it cannot meet that obligation, and you will have no bitcoins to withdraw. Hence, they were not and are not your bitcoins, they belonged to the exchange.

It's like having money in a bank without deposit insurance. It's not actually your money, it's a bank's obligation to pay you back the money on demand. Will they be able to meet that obligation? Who knows.
They are still your bitcoins, because they can be used as them on demand. That's like saying the money I have at the bank is not my money. Really, all money is just an obligation of someone to pay me back for something.

I don't think you read what he wrote very carefully.  In a simple practical sense, a bitcoin is yours if you control its disbursement.  If an exchange gets hacked and all its bitcoins stolen, and you had bitcoins on the exchange, you no longer have the ability to disburse those bitcoins.  In other words, they're not yours anymore.

And, as runeks pointed out, there's a big difference between money in a BTC exchange and money in a bank.  Typically you have some state backed deposit insurance with the later.  There is no such infrastructure in place for bitcoin, and there likely will never be.
2282  Economy / Service Discussion / Re: HOLY SHIT BTC-E.COM hit $40 per BTC! on: July 31, 2012, 02:03:50 PM
Everybody, please, repeat after me:

"The bitcoins I have on an exchange are not my bitcoins. They are an obligation of the exchange to pay me back said number of bitcoins."

If the exchange gets hacked and loses its bitcoins, it cannot meet that obligation, and you will have no bitcoins to withdraw. Hence, they were not and are not your bitcoins, they belonged to the exchange.

It's like having money in a bank without deposit insurance. It's not actually your money, it's a bank's obligation to pay you back the money on demand. Will they be able to meet that obligation? Who knows.

+1
2283  Economy / Service Discussion / Re: HOLY SHIT BTC-E.COM hit $40 per BTC! on: July 31, 2012, 01:59:02 PM
It looks like some hacker/scammer injected a huge amount of FAKE capital and bought the ACTUAL coins on the market.

I don't think a hack like this means they have access to the wallet, it just looks like they pumped a bunch of funny money USD into the market to make the transactions legit. I suspect the coins are giggity-gone at this point.

I love being right  Tongue

Yeah, basically this is the opposite of the MtGox hack where lots of fake BTC were sold (price goes down).  This time lots of fake USD were sold (price goes up).
2284  Economy / Speculation / Re: Bitcoin Technical Analysis Update on: July 31, 2012, 01:57:43 PM
From the link:

Quote
It is important to understand that the bitcoin value as a commodity is determined by the network properties(difficulty, size,speed)

Seems rather that bitcoin's network properties tend to follow its value, not the other way around.
2285  Economy / Service Discussion / Re: HOLY SHIT BTC-E.COM hit $40 per BTC! on: July 31, 2012, 01:23:11 PM
My account there has been completely restored.  I guess that site isn't as crappy as everyone makes it out to be.  This is basically the opposite of the MtGox hack crash - i.e. a hack rally.  From what I understand the thief only got away with ~4k BTCs.  That's still a good chunk of change, but it sounds like the exchange is covering it from reserves.
2286  Economy / Service Discussion / Re: btce usb has record volume today! on: July 31, 2012, 01:19:59 AM
Hmmm...my LTCs were bought.  I'm assuming, unless everything is gone, that there'll be rollback.
2287  Bitcoin / Bitcoin Discussion / Re: Statement about the suspect of recent Bitcoinica hack on: July 30, 2012, 02:57:54 AM
Sorry, my interest in this whole bitcoinica shitstorm waned a few weeks ago.  Will somebody tl;dr what's been going on lately for me?  Or even more to the point, just answer whether the likelihood of me getting my bitcoins back has gone up or down given the events of the past week.
2288  Other / Off-topic / Re: DayZ Bitcoin group anyone? on: July 29, 2012, 10:21:37 PM
I know.  I've been away all weekend and can't wait to get back home and start my trek from Berezino to the NWA again.  I've got a lot of work to do this work and this game might be a problem.
2289  Other / Off-topic / Re: DayZ Bitcoin group anyone? on: July 28, 2012, 07:47:10 PM
I'd throw some bitcoin toward a bitcoin community server.  Danijel, I was at the NWA while I was waiting for you to get to Stary and I got a little careless, attracted a very large zombie horde, and got backed into a corner and eaten.  It was a real bummer because I had a sniper rifle, a scoped assault rifle, a compass, watch, binocs, map, and lots of supplies.

I respawned near Elektro and decided that if I could quickly find at least a couple cans of food and couple sodas I could just run straight up to Stary, only stopping long enough to lose the horde, eat, and drink.  It didn't go well.  I thought I was going to die again, but as I was running toward a town I heard a vehicle off in the distance - it was a bus.  I ran into view of the driver and started yelling for help and the guy told me to hop on.  I was bleeding and so once we were out of range of the zombies he stopped and let me patch myself up.  Then he gave me an MK 48 Mod 0, two 100 round magazines, binocs, night vision goggles, a GPS unit, a compass, a range finder, and a few other things.  Then he gave me a ride up the coast to Berezino and escorted me to the supermarket, then went back to the bus and headed back down the coast.  How awesome is that!?

I'm going to carefully make my way back to Stary.  I really don't want to lose this gear.
2290  Economy / Digital goods / Re: STEAM GAMES & MORE for BTC - GOOD REP - TF2 Keys @ $1.30 ea in BTC on: July 27, 2012, 05:32:09 PM
Good lord that was fast.  I'm installing ARMAII right now.  Very fast, very professional.  I'm certain I'll do more business with TECSHARE in the future.  I love that I just bought a Steam game with bitcoin.  Thanks TECSHARE!
2291  Economy / Digital goods / Re: STEAM GAMES & MORE for BTC - GOOD REP - TF2 Keys @ $1.30 ea in BTC on: July 27, 2012, 04:57:47 PM
YGPM.  Looking for ARMA II: CO.  Want another DayZ installation.
2292  Other / Off-topic / Re: DayZ Bitcoin group anyone? on: July 27, 2012, 04:52:17 PM
Anyone want to buy me another copy of ARMA II Combined Operations?  I'll pay 3.5BTC.
2293  Other / Off-topic / Re: DayZ Bitcoin group anyone? on: July 27, 2012, 02:39:16 PM
Anyone have a copy for me Smiley?

You missed the Steam sale, eh?  I picked up ARMAII plus the expansion for $17 during the summer sale.

Update:  I'm at the NWA.  I've now got an M14 AIM (M14 EP1), an AKM, and an M1911.  I looted the NWA at night.  It was scary as hell, but I think it was safer than trying to do it during the day.  I think I'll hang around here a while longer on the hope that I can find a pair of night vision goggles.  Once I find a pair I'm heading back into the woods.

Let me know if any of you guys need help.  I've got loads of ammo, a couple morphines, and a blood bag.
2294  Other / Off-topic / Re: DayZ Bitcoin group anyone? on: July 27, 2012, 04:48:34 AM
Went hunting as the sun was setting.  Managed to find and kill a boar.  Cooked its meat and setup camp near a small pond so I could refill my canteens.



2295  Economy / Speculation / Re: Bitcoinica: When does it implode? on: July 27, 2012, 02:52:35 AM
This poll just goes to show that...I see history repeating itself with BS&T/PPT.....many on the other poll think its the greatest thing too.

 Wink Dont listen to me...listen to pirate and make your own decision.

After all the hacks it blows my mind that so many people are still willing to trust so much value with relatively unknown 3rd parties.
2296  Economy / Speculation / Re: Next breakout coming soon! Here comes $11. on: July 27, 2012, 02:49:29 AM
I hope not.  The best thing that could happen is months long stability around $8.
2297  Other / Off-topic / Re: DayZ Bitcoin group anyone? on: July 27, 2012, 12:41:12 AM
Heh, got a good run across almost the whole map today, chased by zombies multiple times without any weapon, evaded gunshots, got pretty banged up, infected, then starved to death...will spawn again tomorrow and try to make it to Stary Sobor and camp around it so once we get together we can hop on the same server and finally meet eachother.

Maybe we should appoint the time when we try to ride together so we don't have to chase eachother on the forum?

Also good point on united operations courses, I've just passed fireteam operations, after doing basic familiarization course.

I dreamed of an ingame bitcoin terminal/wallet, considering ArmA has open source scripting for someone with knowledge that wouldn't be much trouble to do. Maybe would be a good idea to present it to the DayZ developers.
I'd put a bounty on some bandit heads by now...

Tough day.  I spent some time in Berezino and finally found a hatchet in a barn to the East.  After that I made my way back to the Berezino hospital and finally was lucky enough to find some antibiotics.  With my infection under control I grabbed some morphine, a blood bag, and an epi-pen and headed into the mountains to the South.  I got a fire going and cooked up the meat I got off a cow I shot this morning.  With my health restored I started heading West along a ridge line and, to my surprise, found a fully working tractor tucked away in some trees.  Obviously somebody had fixed it up and hid it there and there was a fair amount of loot inside it too.

With my binocs I spotted a gas station about a km to the West and started heading toward it.  I was driving it through an open field and was getting a little too close to some buildings (and zombies) for my comfort so I tried to drive it in the woods and ran into a tree.  I was ejected from the tractor (lol, seriously, ejected) and was knocked unconscious for, no joke, about 10 minutes.  I'm lucky to have nearly completely restored my health just 10 minutes before finding the tractor because the accident took my blood level down to 3000.  Luckily I had 4 more cooked meats and a couple cans of beans and got my blood level back up above 6000.  Even after eating all that food my screen was still blurry (concussion, maybe), but it went away after taking some painkillers.

Anyway, I'll continue to make my way to Stary tonight.  I may even keep going to the airfield and check things out.  I really want to get a sniper rifle.  This time I'm gonna pick a high spot off in the distance and watch the area with my binocs for a few minutes.  Last time I went to the airfield somebody took me out because I rushed in to quickly and didn't take enough care as I moved around.

Danijel, If you end up spawning further east this time, let me know.  I'm happy to go back that way.   I'm well stocked now and I have everything I need to survive in the wilderness, so I don't feel the need to stick to any particular area (i.e. places with hospitals and supermarkets).

BTW, on my way up from Elektro to Berezino I ended up accidentally running into Rog Por (I like to stick to ridge lines when I'm on the move).  Check it out on the map, just North East of Elektro.  There was a ton of good shit there.  I got an AK and lots of amma and a bunch of other stuff (a compass, food, etc).  It's a tough area to get into and out of as it's surrounded by trees so you can't easily spot the zombies.  I spotted some external stairs going up one of the large castle-like structures and just made a beeline for the stairs in an all out sprint.  The zombies quickly came after me but were slowed down by the stairs and from the top I was able to easily take them all out.  Anyway, the area doesn't look like much on the map, but if you're in the South East and intent to go North, I think it's worth checking out.

2298  Economy / Scam Accusations / Re: *RED FLAG* Intersango on: July 26, 2012, 09:22:35 PM
Buy bitcoins, don't sell them Smiley

Yep.
2299  Other / Off-topic / Re: DayZ Bitcoin group anyone? on: July 26, 2012, 09:01:09 PM
Fuck guys, I'm feeling really alone here in Cherno.
I've already killed 3 bandits, I don't know if I will survive longer...

I got some cooked meat and lots of soda so it would be nice to meet with some friendly survivor for once.

You should try to hook up with Danijel.  When we were on TeamSpeak he had spawned in Kamenka and was planning on making his way up to Berezino.  If you want, we could meet in Stary Sobor.  Looks like it's a good half way point.  If we hook up there, it might be worthwhile to loot the North West Airfield for military weapons.  This AK is nice, but I'd like to get my hands on a sniper rifle or some other scoped weapon.
2300  Other / Off-topic / Re: DayZ Bitcoin group anyone? on: July 26, 2012, 07:36:35 PM
Ok good luck but realize your opsec is destroyed, anyone googling for dayz camp sites will be able to zero in on your location and hit you with everything they got.  Note how in youtube videos of dayz everyone masks grid and location names in the videos.  Grin

Maybe.  But there are lots of servers and lots of places to hide.  As soon as I can find a hatchet I'm going to camp out in the woods somewhere.  I've got a couple refillable water bottles, a hunting knife, medical supplies, and an AK with plenty of ammo.  I just need that damn hatchet.

Edit:  I'll probably play some more tonight around 11pm EST.  I'm back in Berezino, by the way.

Edit 2:  Danijel Habek, if you want, we could meet up at the North West Airfield.  I don't know how far you've made if from Kamenka, yet.  Let me know.  Finally, if anyone finds some antibiotics, let me know.  I've got some disease that won't let me restore my blood past 6000.
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