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2381  Economy / Service Announcements / Re: [Payout Updates] Bitcoinica site is taken offline for security investigation on: August 03, 2012, 01:59:42 PM
If I understand that correctly, Roberto argues that by publicly complaining about his account being frozen, Zhou gave consent to publishing the information, and since their privacy policy specifies that the information will not be given without consent, what they did is ok.
I don't see how any person could have honestly believed that Zhou had consented to having that information released. Either Zhou didn't know the information or he knew it. In the former case, he can't have consented to releasing it (except very explicitly, which we know never happened). In the latter case, you'd have to believe he was dumb enough to consent to the release of information he knew would make him look guilty in the manner most likely to make him look as guilty as possible.
2382  Economy / Service Announcements / Re: [Payout Updates] Bitcoinica site is taken offline for security investigation on: August 03, 2012, 01:06:37 PM
I wasn't referring to you AT ALL with my statement. We might disagree in a few things, but I know your opinions are yours and unbiased.
Sorry, I didn't mean to imply that your accusation referred to me. What I meant was that people too freely throw around that accusation, so much so that I've received it from both sides of an issue for making the same argument. (I reworded the beginning of that post a little bit to make that clearer.)
2383  Other / Off-topic / Re: Christians - is it fake ? on: August 03, 2012, 12:57:20 PM
is being an atheist a religion?
The usual flippant atheist response to this question is "Is not collecting stamps a hobby?"

Being an atheist just means you don't believe in a deity of any kind. It doesn't require any particular positive belief. There are no customs, traditions, or practices that are part of atheism or shared by atheists generally as part of their being atheists.

Some people do argue that large numbers of atheists have common views and that this makes atheism a religion. For example, many atheists have the affirmative belief that no god exists. Many believe in moral systems such as pragmatism or humanism. Many believe that beliefs must be justified by logic and reason and that faith is not an acceptable justification for belief.

However, nobody has explained how this can constitute a religion without making pretty much everything a religion. People who play golf tend to share a belief that golfing is enjoyable. They share the custom and practice of playing golf. They meet at golf courses on weekends. Is golfing a religion? What about vegetarians? Many of them share a belief that it is morally wrong to eat meat. They have customs and practices, shared beliefs, and so on. Is vegetarianism a religion? What about believing in the importance of regular exercise?

Still, I don't think this is something to argue over. We know what atheism is. Why does it matter what we label it? Whether or not you consider atheism a religion, it is clearly fundamentally different from religions like Christianity and Islam. It still is what it is. Even if atheism was fairly categorized as a religion, that wouldn't make "atheists are religious too" a sensible response to atheist's rejection of major religions, their arguments would still be precisely the same.
2384  Economy / Service Announcements / Re: [Payout Updates] Bitcoinica site is taken offline for security investigation on: August 03, 2012, 12:45:13 PM
... including having our name dragged through the mud by clearly paid shills ...
While I agree there are a few people here who look like they might be paid shills or sock puppets, I would strongly caution against saying anyone is "clearly" a paid shill. There is a lot of room for honest disagreement and it's all too easy to think that people who don't share our views must be unreasonable, biased, or worse.

For example, I've been accused of being a paid shill a few times. I've never been paid for shilling anything. I've even had cases where I tried to be as fair as possible to both sides and in exchange, I was accused of being a paid shill by *both* sides. (Which would have been a pretty sweet deal if I could have gotten it. If anyone would like to pay me to shill something, I'm absolutely open to reasonable offers. Now's a really good time -- my jet ski needs new RAVE valves.)

http://www.volokh.com/posts/1169515991.shtml

And, by the way, I would hope that even the people being the most critical of you would agree that you were most likely trying to do what you thought was right, even if they disagree with your decision. I don't think anyone believes you were intentionally trying to trigger a witch hunt.

2385  Economy / Securities / Re: (FEEDBACK WANTED) 100% Insured PPT bond (GLBSE) on: August 03, 2012, 11:57:12 AM
It is refundable, however. I can sell the bonds to someone else later on. In fact, I expect a certain amount of liquidity.

Your argument is essentially that it's misleading to say something is "100% insured" when it's possible for people to lose money even if the terms of the insurance are met. I see both sides of this issue. Usually "100% insured" does mean you can't lose money, but there are certainly other cases where "100% insured" doesn't mean that, particularly ones where you "overpay" for the item that's insured.

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News! I am selling bonds for 1 BTC with a face value of 0.001 BTC each. They pay 200% weekly interest and are 100% insured. A buyback can be placed at any time for the face value.
I think those bonds are just overpriced, not misrepresented. You simply wouldn't sell any of those bonds. But surely they're worth more than .001 BTC.
2386  Economy / Speculation / Re: I have made a 25% return this week trading *against* the pirate on: August 03, 2012, 01:34:32 AM
It's not easy if you don't have a bunch of bitcoins to begin with.
Yes, it is. You borrow some bitcoins at slightly above market and pay them back as soon as possible.

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He might have a lot now, but might not have had a lot from the get go.
Exactly. So what's his profit model now?

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As long as the profits are bigger than the interests, it makes sense to borrow.
No, it makes sense to do the deals even if that means you need to borrow. But also, it makes no sense to borrow if you don't need to -- unless you have no intention of paying back. With your model, he'd have no need to borrow. Thus, either he doesn't make sense or he doesn't intend to pay back.

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If he's making X% (given X is higher than btcst avg rates), it doesn't make sense to buy back his debt which yields less. Not until he sees profit margins dwindle (at which point he can buy back debt or lower rates).
It absolutely does make sense to buy back debt which yields less because buying back that debt in no way affects his profit margins. It is comically absurd to argue that his business volume is limited by his capital.
2387  Bitcoin / Project Development / Re: Is anyone working on / has implemented a “two-factor paper wallet”? on: August 03, 2012, 01:24:50 AM
1 - the ability to put your key in 2 different geographically separate places to protect them from snooping/theft.  example, I might put one half in my safety deposit box and keep the other half at home, so someone from the bank who happens to gain access to my safety deposit box doesn't get my bitcoins.
That can be done much simpler ways. For example, you can literally separate the key bits in half. You can also generate a random sequence the same length as the key, and store that along with the key XORed with that.

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2 - the ability to have 2 separate machines generate a single key, so even if one or both machines is compromised, the resulting key is not.  (Example: Smartphone + Computer). All that matters is that both machines aren't compromised by the same person or someone with the ability to access both halves.
Any scheme that doesn't involve storing the private key on a single device has this property.
2388  Economy / Service Announcements / Re: [Payout Updates] Bitcoinica site is taken offline for security investigation on: August 02, 2012, 10:50:27 PM
So under the guise of "investigation" Zhou Tong's entire history with a company can be shared, for by his own actions Zhou Tong has made this forum the venue for the investigation.
Is any operator of any Bitcoin exchange willing to adopt this argument?

Will any of you agree with this statement: "If we suspect you've committed a crime, and you've discussed that issue publicly, our exchange reserves the right to release your account and transaction information to the public on that same forum, to further that discussion and investigation."

Somehow I don't think that there's a financial organization of any kind, exchange, bank, wallet service, or the like, that will publicly agree with that statement. You might want to think about *why* that is. (Hint: That's not what their customers expect, and have a right to expect.)
2389  Economy / Service Announcements / Re: [Payout Updates] Bitcoinica site is taken offline for security investigation on: August 02, 2012, 10:42:38 PM
Ummm, not to be trollish or OT on this one... but Google, Yahoo and Comcast all regularly provide the contents of millions of in-boxes, out-boxes, sent-mails and browsing activity to foreign governments, commercial partners, and political campaigns without the benefit of due process, opt-in, subpoena or legal requirement to do so, and in each case it is a direct violation of their TOS with their users. Privacy policies are about as trustworthy as panties on prom night, they tend to get lost pretty quick when the prize is in sight, and somebody usually ends up getting screwed in the deal.
None of that is even remotely comparable to an organization that provides financial services releasing a named customer's transaction information to the public, in violation of their own privacy policy and in the absence of any government investigation, where the obviously foreseeable result of that release is that the customer will be publicly suspected of having committed a significant criminal offense. "Everybody steals paperclips from the office" is not a rational response to accusations of murder. They are *that* different.
2390  Bitcoin / Project Development / Re: Is anyone working on / has implemented a “two-factor paper wallet”? on: August 02, 2012, 10:30:15 PM
It's no harder to generate the initial pair yourself as it is to validate that it is correct. If you don't validate it, and it turns out to be defective in any way, your money is forever lost.

Frankly, this seems silly to me. What advantage do you get from splitting the key in this way?
2391  Economy / Speculation / Re: I have made a 25% return this week trading *against* the pirate on: August 02, 2012, 10:09:50 PM
Pirate takes in 100k (or whatever) btc from lenders. Sells them to client A at 10% (or more) markup. Because client A needs to be anon (thus off exchange) and needs to send large sums across borders to person B. This does not affect price.
Person B receives btc, but needs fiat, and sells it on exchange. Pushing price down. Pirate buys back cheaply.
Or pirate puts up bid wall, and B sells into it, because they want to cash out fast.
So I don't see why him buying it back needs to push the price up.
And it seems this money can be made because of bitcoins unique nature.
The thing is, this whole thing is much easier to do without using any lenders (except perhaps for the first few transactions). Just keep your profits in Bitcoins, pay off the lenders, and then keep all the profits.

Also, there's no evidence that the constant, large Bitcoin transactions necessary for this to work (from A to B in your example) are actually happening. And it makes sense that they wouldn't be happening. There's advantages to dealing with Bitcoins, but not enough to justify a 10% cost on the buy side followed by selling on an exchange and withdrawing fiat to buy more Bitcoins.

This is really just a variation on "Pirate is so rich he can afford to borrow at a huge loss even in the absence of a business reason for doing so".
2392  Economy / Securities / Re: (FEEDBACK WANTED) 100% Insured PPT bond (GLBSE) on: August 02, 2012, 09:50:05 PM
1 to 5.8 is a 480% increase, not a 4800% increase.
I knew from my original "order of magnitude" sanity check that it had to be less than 1,000% but just couldn't find my error. I went over all the calculations several times, but not that last conversion to percentages. It seems so obvious now that you point it out. Thanks.
2393  Other / Off-topic / Re: Christians - is it fake ? on: August 02, 2012, 07:14:48 PM
Obviously religion is going to cause conflict, and even what we justify as totally unnecessary deaths, which strongly supports the argument against religion. If we had no religion the world would be a better place in the sense that nobody would fight for their religion. The world would also be a worse place because (probably) over 90% of people act in a different (better) way then they would if they didn't believe in heaven or hell.
Did you watch the video? One of the techniques used several times was to assure the convert that all they had to do was believe a small set of things (none of which had anything to do with being a good person) and they were *assured* entry in heaven.

Ask a typical Christian if the Bible is the revealed word of a living God who holds their eternal salvation in his hands and they'll say "yes". Then ask them if they've ever read the whole thing or bothered to understand what each section was saying. Their religious beliefs have no real effect on their behavior.

Perhaps without religion, people would have found the right reasons to be better people. And no one would have to get nailed to anything. (Perhaps not. My point is simply that it's easy to see the advantages of the actual and easy to not see the advantages of the potential. For example, NASA frequently talks about the technological advances they are responsible for. But who knows what advances the money spent on NASA would have brought if spent elsewhere.)

Also, I think religion is still a horrible evil, even if it did make 90% of people act better (which I do not accept), because of the people who fight and kill for religion. Think about a really good doctor, say one so much better than most other doctors that he saves an extra 20 people per year. However, he does ask in exchange that he be permitted to murder 1 patient per year. So, this doctor will save 19 lives per year. However, he does murder one random person, who otherwise would have lived. Maybe you're enough of a pragmatist that you'd reluctantly hold your nose and hire this doctor. But I don't think you would argue that he's perfectly entitled and morally justified in killing one person, given that he saves 20.

You can't make up for the bad with good that way.
2394  Other / Off-topic / Re: Christians - is it fake ? on: August 02, 2012, 07:32:37 AM
Because religious man cannot reason with an atheist, because atheists depend on factual information hence their logical conclusion that there is no god. I'm on neither side of the religion argument, because we have so little proof either way.
Do you believe that it is reasonable to believe something, and act on it as if it were true, with no proof? If so, how should people decide which things they'll believe without proof and act on? Say I decide to believe (and act on the belief), without proof or evidence, that god thinks you should be killed. Is there any reason I shouldn't do that? I mean, there's so little proof either way, so can I just pick one side? Are you on neither side of my "god thinks you should be killed" argument?

And don't think these aren't the stakes -- there are people hijacking planes and flying them into buildings, or strapping bombs to themselves and running into crowds of children, because they think god wants them to.
2395  Economy / Securities / Re: (FEEDBACK WANTED) 100% Insured PPT bond (GLBSE) on: August 02, 2012, 07:28:41 AM
I'm not quite sure how you arrive at 1000%.  Should be higher if you count a full 5.5% at "face value," or "only" about 600% if you count it at the sell price (that seems like the more accurate figure to me).
You get .055BTC per bond. At 1.6BTC per bond, that .055BTC buys you .034375 bonds. So if you start a week with one bond in value, you end a week with the value of 1.034375 bonds. There are 52 weeks in a year, and 1.034375^52 = 5.8. So in a year, you go from 1 units to 5.8 units, an increase of 4.8 units. That means the interest rate is 4,800%480%.

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So it's really more like 60% insured--you take a haircut if default is soon (as I think it may be). But it seems like a relatively attractive product. I don't know why anyone would get YARR if this was available.
I agree. You're betting that there won't be a default (or cessation of operations, or huge interest rate reduction) before the interest you've accumulated equals the premium that you paid. Depending on how you calculate it, that's between 12 and 20 weeks.
2396  Other / Off-topic / Re: Christians - is it fake ? on: August 02, 2012, 06:53:00 AM
I was raised Christian, but I call myself Diest now.The guy in that video wasn't really a strict or "by the books" Christian, and had mostly Muslim views.
I don't think that's true. I think he was tricked into thinking that. I'm pretty sure if you ask him his views on the treatment of women or the relationship between religion and government, Jihad, the pope, and so on, you'll find his views are much more like those of Christians than Moslems. He was tricked into thinking that that big difference between Muslims and Christians is whether they believe Jesus is God or sent by God. That's like saying the difference between Americans and British people is whether the flag has stars on it or a big X on it.
2397  Other / Off-topic / Re: Christians - is it fake ? on: August 02, 2012, 06:44:11 AM
A "Christian" who doesn't believe that Jesus is God, and hasn't read the Bible?  He wasn't a Christian to start with. A Christian, by definition, is someone that believes that Jesus is God.  He was someone who is searching for meaning and spirituality in life and a few months ago thought he'd give Catholicism a try.  Then along came a charismatic speaker who put him on the spot and gave him another religion to try.  No surprise in the end result.
I'm an atheist. But I agree with this assessment. The guy was just someone easy to manipulate who just became convinced that there wasn't much difference between Islam and Christianity. He seemed to only be trying on Christianity anyway and was ready for a switch. I bet I could have gotten him to stop believing in God in about the same amount of time by using comparable techniques.

What's it supposed to show anyway? That some people don't really care what religion they belong to as long as they belong?
2398  Economy / Service Discussion / Re: HOLY SHIT BTC-E.COM hit $40 per BTC! on: August 02, 2012, 03:11:28 AM
I'm not sure if, when using a "secret prefix" (as its known), one is able to replace the last part of the message, or if it's just possible to add something to the end though.
You can only add something to the end. And you have to add the original padding first. So if you have SHA256(M), where M is the original message, you can compute SHA256(M+P+A) where M is the original message, P is the original padding (which is a function of the length of M) and A is what you want to add onto the message.

A simple fix for this is to use SHA256(SHA256(M)) instead of SHA256(M). Now the hash you are revealing is the hash of a fixed-length message, making length-extension attacks impossible. You would need to know the secret to invert the last hash.
2399  Economy / Securities / Re: (FEEDBACK WANTED) 100% Insured PPT bond (GLBSE) on: August 02, 2012, 02:38:11 AM
Everyone loves 1,000% interest.
2400  Economy / Economics / Re: Does hoarding hurt Bitcoin ? on: August 02, 2012, 02:18:03 AM
Isn't ornamental use just a form of hording combined with occasional bragging (wearing it)?
I guess it's a matter of definition. "Hoarding" is kind of a useless, loaded term anyway. It implies that deferring consumption somehow deprives other people of something when in fact it does precisely the opposite. It's based on the myth that consumption drives the economy when the truth is that production drive it. A hoarder still produces, otherwise they would have no way to acquire the thing they are hoarding. A hoarder simply doesn't consume, which just leaves more for everyone else.
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