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261  Economy / Speculation / Re: rpietila Wall Observer - the Quality TA Thread ;) on: June 10, 2014, 06:06:43 PM
Is there any place besides btc.sx to leverage long when we start to approach the next bubble?
262  Economy / Speculation / Re: The "black swan" event on: June 10, 2014, 03:54:04 AM
Bitcoin (and/or crypto-currencies in general) is the black swan for some institutions.


Still on a very small scale.
And not in Russia/China in any case.

Give it time. I am betting on a world wide fiat currency disaster/collapse/severe inflation event before 2020.

This event was inevitable, but cryptocurrencies are going to hasten this moment. Luckily, they will also allow the world to survive.
263  Bitcoin / Bitcoin Discussion / Re: Any free ways to anonimize your bitcoins? on: June 09, 2014, 06:18:15 PM
You can also buy an altcoin on one exchange, send the alt to another exchange, then convert back to bitcoin.

One important thing is how many bitcoins are you trying to anonymize. A few hundred or even a few thousand is probably no trouble, but when you get up to more than 10k bitcoins, I think the trail will be more obvious. To anonymize that much would start to involve major slippage or a lot more work.

As Bitcoin (and other cryptocurrencies) grows, it will get easier and easier to anonymize large sums of money. Exchanges all over the world, some in places that don't follow KYC/AML rules, others that don't really have a subpoena process, large altcoin economies to shift, Darkcoin growing, ect.

Hiding(anonymizing) a $million dollars a day in bitcoin is fairly easy right now. In another 5 years, you could probably hide a $billion dollars a day with no problem. And in 10 years, maybe a $trillion dollars a day with no problem.
264  Economy / Economics / Re: Marc Faber on Bitcoin: Unbanked Developing World Not Ready for Bitcoin on: June 08, 2014, 09:31:56 AM
Some Facts about Cambodia:
15 million people
18 million mobile subscribers
yes, 118% penetration! (multiple phones per user)

They can leapfrog the existing banking system.

David


My youngest wife in Kenya uses 3 cell phones. One receives calls for free, one makes phone calls for next to free, the other does text messages for basically free. She works in marketing doing cold sales calls and I know her boss helps pay for them.

When I was on the matatu (type of bus) into downtown Nairobi in the early morning, it was filled with young professionals. They were all playing with Androids and various tablets.

Most people don't realize how technology is leapfrogging in 3rd world countries. They are skipping the land lines. Phone and internet run off microtransactions. For instance, you can rent 3G Orange by the day. It is about 40 shillings ($.50) for about 3-6 MB/second download speed depending on the time of day. There are internet cafes everywhere for about $0.25 per hour.

Young professionals using these devices earn about $250 per month compared to typical salaries of less than $100 per month.

MPESA is already very popular in many African nations, but it is centralized, and governments keep raising the taxes on using it. I believe at some point this cause a huge shift to cryptocurrencies.

 
265  Bitcoin / Bitcoin Discussion / Re: 90 BTC stolen! on: June 07, 2014, 05:49:51 AM
I thought a double-direction arrow and "n/a" in the transaction field in Bitcoin-Qt represented a transaction between addresses within the same wallet?

^^ THIS

OP, I realize it is probably to late now, but did you ever try using the debug console (on both wallets) to dump the private key to that address?

Open debug Window
Then type:
dumprivkey<1CLn42dHFuXAd7o9bgrsCRmfDvLavRoxTq>
and then try:
dumpprivkey<1H4esgi6KwhDtVXZXJ12AS7QEwdeQighn4>

Just curious.
266  Other / Politics & Society / Re: The Cure For Stupid Gas Cans on: June 07, 2014, 12:53:04 AM
Reminds me of another freak gasoline fire accident:

Zoolander Freak Gasoline Accident
267  Bitcoin / Bitcoin Discussion / Re: Height of Greed- Deny Satoshi's Bitcoin on: June 05, 2014, 06:01:21 PM
Satoshi gave us a great gift with Bitcoin. Yes, he has a ton of bitcoins. Yes, I sometimes feel jealous. BUT THAT IS A FLAW WITHIN MY CHARACTER.

Satoshi may have some other great ideas. Maybe he wants to buy an island and start Bitcoin Nation. Maybe start a colony on Mars. Maybe invest in human longevity.

He has proven his worth. He deserves them. And he should have a chance to try something else if he wants.

Who knows? Maybe he will fund a group and find a cure for aging.
268  Bitcoin / Bitcoin Discussion / Re: What stops a Federal Reserve crypto scheme of their own? on: June 05, 2014, 05:30:34 AM
Just imagine if the Federal Reserve started their own cryptocurrency, created a FedChain, blessed the banks to use it, ect. I can't imagine the limitations on it, but I am sure they would be bad. Probably would be a way for the feds to create their own coins in the protocol.

Soon there would online exchanges like Cryptsy.com that would allow you to quickly switch your FedCoins to BitCoins.
 I think ultimately, this would actually accelerate the fall of the dollar.


269  Other / Politics & Society / Re: The Cure For Stupid Gas Cans on: June 04, 2014, 11:24:39 PM
Reminds me of those low flow shower nozzles caused by government regulations to limit water usage...so companies started making multi-head shower nozzles to bypass the regulations:

270  Other / Politics & Society / Re: 100 hobonickels bounty if you can explain this murder on: June 04, 2014, 11:19:53 PM
I think you mean to explain his conviction. To be concise I will say: Overwhelming circumstancial evidence and lack of a corroborated alibi.

Now to be more wordy:

I have read hundreds of criminal trial transcripts and use to help inmates to file appeals. I haven't read the trial transcript in this case, so my opinion is very provisional and I reserve the right to change it after reading the transcript and police reports (especially concerning the alibis of the roommates).

The girl was obviously assaulted by a sexually frustrated male that was unable to complete the act, then murdered her to cover his identity.

I can see that the prosecution worked very hard to make sure that the jury would be heavily swayed by emotion. Not a good sign by itself.

I would question the DNA evidence under his fingernails. Some labs have been known to fabricate evidence if they feel the person was guilty. Finding DNA there, just seems very convenient. But then he is a foreigner and was probably ignorant about cleaning his hands of DNA.

I hope the alibis of the roommates was heavily corroborated. The police report would be important for that.

That being said, I strongly suspect that he is guilty. Girl's body found at his place, roommates with an alibi. The only alternative would be if he was gone and somebody else decided to bring her to his place. I find this idea of a stranger using his room to commit the crime to be preposterous. Regardless, in that unusual case he would have an alibi.

Which is why the transcript is so important. I want to hear his alibi. Does it make sense? Is it corroborated?

I tend to be very skeptical of evidence (about 20% of the trial transcripts I read, I would have voted "not guilty"), but I have a gut feeling that I would have found him guilty if I was on this jury.
271  Economy / Speculation / Re: One Satoshi = $1 trillion on: June 03, 2014, 07:29:05 PM
I think this is quite a realistic scenario - when will it happen?

By the year 2100. At that point a loaf of bread will cost around $100 trillion dollars. So that trillion dollars will be equal to a penny today. I expect a satoshi to be worth over a penny (today's value) within two decades.

In fact, I think there is a 50/50 chance that a single bitcoin will be worth over a million dollars by the year 2020. Mining would then be a $657 billion dollar operation (365*24*6*12.5* $1 million), which would still be less than the cost of running the old fiat empire after you factor in losses due to inflation.
272  Alternate cryptocurrencies / Altcoin Discussion / Re: What should Dogecoin Inflation be? on: June 02, 2014, 12:43:09 AM
I did feel that setting Dogecoin inflation at about 5% per year was a bit to high, would like to see 1% (actually 1 billion). I think this would be a good balance between securing the network, while keeping the value of individual coins.

BTW, this is my main issue with Litecoin, inflation rate will be fairly high for quite a while.

If I had my way, I would also set the inflation rate/reward to a flat 1 BTC per block. I think the current reward is an anchor on the price of Bitcoin & uses a lot of energy (although not as much as the fiat system or even gold mining). In fact, I think the block reward (and sale to cover cost) will ultimately control the value of the Bitcoin network.

Luckily, we do have altcoins. And my investment in some of the current leaders is highly influenced by their inflation rates.
273  Bitcoin / Bitcoin Discussion / Re: satoshi is either dead or in prison on: May 30, 2014, 06:43:19 PM
Satoshi almost died.  But then he got better.  Sadly, his mom sold all his computer stuff while he was in the hospital.  It was either the computers or the toy trains and she knew what mattered most to him.

The important thing is that he is happy:

274  Economy / Scam Accusations / Interesting Email - Says I won 21K pound pot in BC on: May 29, 2014, 04:34:33 PM
Deleted
275  Bitcoin / Bitcoin Discussion / Re: If bitcoin becomes world's reserve currency? on: May 29, 2014, 08:21:35 AM
If the bitcoin (BTC!) becomes the world reserve currency, then banks will long have adopted it. They will have scared people because of security issues when holding BTC by themselves and they will have made people deposit and transact via the banks, which in turn allows the banks to work with IOUs instead of actual BTC.
This will result in the ability to massively inflate said IOUs by just issuing more of them as debt which will have to be repaid (plus a little extra). For this to not get out of hand an institution will be appointed bitcoin reserve bank and it will be able to control the creation of said IOUs on a pace they like.
As a result, the rich will get richer and the poor will suffer.

The value of a bitcoin by then? A lot less than now because it has been massively inflated with trillions of bitcoin IOUs everyone is forced to accept as settlement of debt.

In that case, a bitcoin IOU won't be worth nearly as much as a real bitcoin. Do you remember gold backed US currency? It use to be a gold IOU.
276  Bitcoin / Bitcoin Discussion / Re: I am pretty confident we are the new wealthy elite, gentlemen. on: May 29, 2014, 04:42:22 AM
http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity/

What are you going to do with your Bitcoin wealth once your coins hit upwards of $10,000 a pop?

You'll never know because if Bitcoin hits USD $10K, I'll be so fuckin' gone you'll never find me.

Haha I'm with you man!

Bitcoin definitely has some of that world changing potential on a personal, as well as, a global level.

Once BTC gets to that sort of price level, man oh man will there be alot millionaires walking around.

I'll give you an invite to my private island; how's that?

It'll be well stocked with booze, wine, good food, hookers and blow!

Wink

Just kidding!

Well, except for maybe the hookers.

At USD $10K we could have PRIVATE HOOKERS and therefore no worries about disease, etc.



Sugar baby

FTFY
277  Bitcoin / Press / Re: [2014-05-27] Dark Wallet Rising from the Trenches of Alpha Testing on: May 27, 2014, 09:01:45 PM
Good, sick of watching Darkcoin go up.
278  Economy / Service Announcements / Re: I made a service to let you know if your computers is unsafe for bitcoins on: May 27, 2014, 08:45:47 PM
What filenames and locations would malware check? As in a good list of the most popular files used.

I thought about just creating a file named bitcoin.txt on my desktop, put a public & private address into it and send a couple dollars worth of bitcoin to it. Then create a small script to have my computer check that address when I turn it on.

It would be cool to create a few other target files that could also contain the same address & private key.
279  Economy / Economics / Re: Bitcoin vs. All Other Coins, are they hurting Bitcoin? on: May 25, 2014, 04:57:36 AM
Discovered that her brother was in the MILF

Ooops, you meant her mother not her brother, right?

I believe her brother would be a BILF, not sure because I am not into that sort of thing.

Haha, I guess MILF has more than one meaning.

In this case: Moro Islamic Liberation Front

http://en.wikipedia.org/wiki/Moro_Islamic_Liberation_Front

280  Economy / Economics / Re: Bitcoin vs. All Other Coins, are they hurting Bitcoin? on: May 24, 2014, 06:03:55 PM
Why is anonymity (did I spell that right?) so important? If you're not doing anything illegal or some kind of perv, then why would you care if people can track your purchases?

Taxes.

Paying taxes is immoral.

Taxes (and fiat currency) are used to support war and the murder/imprisonment of innocent civilians.

Using Bitcoin takes away part of that power.


Paying taxes is immoral - yeah - because you've never used roads before, or streetlights, or electricity, or not have to deal with terrorist attacks. What do you think your taxes go to? Taxes support war to protect YOU, and the murder/imprisonment of innocent civilians does happen but is extremely rare and is getting rarer and is much better than the alternative of keeping all criminals on the street. Please use a condom.

I pay for my electricity, no taxes needed.

Streets are supported by user fees. I have no problem with those.
 
I have lived in undeveloped areas of Philippines and Kenya, roads are usually built by locals without resorting to taxes. When I was young kid and part of some dumb religious cult up in the mountains, some of them got tired of there being no road. So a couple of them got together, pooled some money, hired a bulldozer, and guess what? We had a road without taxes or coercion.

As for the war on terrorism, I am more likely to get killed in a car accident than by a terrorist. A long time back, I went into the mountains with some girl I was planning to marry on Mindanao Island in the Philippines to meet her family. Discovered that her brother was in the MILF, he even let me shoot his AK-47 for fun. I never felt safer.

As for innocent people killed, I will just post a wikipedia link: http://en.wikipedia.org/wiki/Casualties_of_the_Iraq_War

As for condoms, I refuse to use them. Did make my Kenyan wife take an HIV test though.
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