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Coinbase is really setting the bar, I read about this the other day. Apparently the Data Google is displaying now is also from Coinbase. Also Expedia is accepting the payments via Coinbase, they are certainly on a roll lately.
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If a 51% attack actually happens, could one lose bitcoins in cold storage or in hot wallet..
No!! A 51% could theoretically allow the attacker to double-spend coins that *they* already have. YOUR coins are safe. No one can sign transactions for your coins, unless you've given them your private keys. Not strictly true. If the attacker *ever* owned your coins in the past, they can start their attack from before they sold them and rewrite history from that point forward. Then you never bought them and your cold wallet is empty. So what your telling me is I need to divest and gamble all my coins away?  |
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Hi all,
Apologies in advance if this is a stupid question or I'm misunderstanding something basic, but I've read about potential security issues with off-the-blockchain transactions through intermediaries and have a question. The main take-away I've gotten is that intermediaries don't confirm transactions with with the public ledger, so transactions are promises of bitcoin transfers rather than actual transfers.
How does the blockchain prevent double-spending if, say, Alice spends her bitcoins through an intermediary by buying things on Overstock or something (off-chain) and then attempts to make a normal transaction to Bob on-chain? How is this detected?
Thanks in advance for help!
I might be misunderstanding your question, but from limited understanding you actually send your coins to the Intermediary service and it gets cemented in the blockchain at this point when you "pay", they wait for confirmations on the network, then the intermediate party pays Overstock cash and they will send you your stuff. When you do this your coins leave your address and are sent to the Intermediary services address and are confirmed in the blockchain. Now when you try to send bob coins the blockchain has the transactions you made sending the coins to "Overstock" in payment, if your talking about making two transactions at once, it simply would just be a case of which transaction is completed faster. If you don't have the coins for the second transaction it would be rejected by the network I assume. |
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I can't take credit for this because I believe it was Danny_Hamilton who said it, but the entirety of the Silkroad coins that were seized 120k+ is ~ what is generated by the blockchain in 48 days. I wouldn't expect this to have an enormous impact on the exchange price. Unless someone ends up buying the coins for insanely cheap, which won't happen their will be competition for them.
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If THAT hits the market, we'r talking disaster....absolute anihilatio of price for quiet some time.
One can only hope that you are correct. I'm looking forward to picking up some cheap bitcoins. On the other hand, it's only 174,000 BTC. That's about the same amount of bitcoins that are created every 48 days. Likewise, I can't imagine it will drop too far below 400, if it does I think everyone will buy coins and drive it back up. I would rather the coins be returned back to Circulation as opposed to just sitting in Cold Storage to never be used and to be constantly speculated upon. -tin foil hat- Maybe they are going to crash the market so the media will pump out a bunch of garbage about how unstable Bitcoin is and deter people even more, then at-least the people who truly believe in the Bitcoin protocol will get cheaper coins before people realize the numerous and varied benefits of Bitcoin. |
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Read ShakezulasCoin Creation Guide: https://bitcointalk.org/index.php?topic=217636.0Here are some basic instructions to get you on you way: Get Source and Rename coin prefix sudo mkdir sublimecoin cd sublimecoin sudo git clone https://github.com/barcoin/barcoin.gitsudo find ~/sublimecoin -type f -exec sed -i 's/bar/sublime/g' {} \; Generate Timestamp date +%s Paste timestamp and news string into source around line ~2090 main.cpp sudo make -f makefile.unix generate Merkle Hash for given timestamp Look at the debug log and copy the Markle hash under the 000000 Located in: (~./sublimecoin/) Paste the merkle hash value around line ~2090 main.cpp Generate Genesis Block hash and Nonce check the debug log for these values Paste these values into main.ccp line ~2090 create the .conf files and make sure one has listen=1 Run the program on two machines ./sublimecoind -testnet -connect=machine1 ./sublimecoind -testnet -connect=machine2 Compiling all the wallets headless with no GUI is easy. Compiling wallets with GUI on Mac and Linux is really easy. GUI wallet on Windows is very tough to get working and will take all your time I bet. The barcoin source base uses Scrypt to mine |
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I did-int even have to read the article to derive he is a supporter of Bitcoin |
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there is a single script kiddie that made all of those altcoins as his pump and dump to make money out of fools that swap their valuable bitcons for his worthless couple dozen coin designs..
he now wants to try making them appear useful by making an app. and promoting it through coindesk.. i even suspect the OP is a sockpuppet of the coin dev and using a subtle form of advertising here..
all in all dont trade your bitcoins for those worthless altcoins
I am inclined to agree with Franky1, creating altcoins is so easy it can be done in less than an hour if you have prior experience. Alot of people wonder why some people really hate alternative blockchains, because most of the alternative blockchains do not seek to solve any problems with the Bitcoin protocol and are essentially digital Ponzi Shchemes. Several new users have lost lots of Bitcoin "investing" into altcoins thinking they could have value, I myself am not immune to this and have held the bag for several alternative blockchains. Live, learn and use Bitcoin |
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Likely hood of Satoshi actually losing his Private keys are slim to none. If someone theorized this type of system and even implemented a bare-bones framework, they would know to never, ever, destroy or lose their private key. Having messed around with the source code and made a few coins (never released) for fun I just cant ever see the creator who invested time losing the coins you get mining your first few nearly uncontested blocks.
This likely means Satoshi has multiple wallets, I mean I have a fraction of the coins he does and I have dozens of wallets, when he started Bitcoin he had to put multiple nodes onto the network just to even mine the genesis block. I think he has spent some coins who knows when or what price, he just has not made his way to the largest wallet we can determine he owns.
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We all know why as all my businesses and transactions are bitcoin related which is why they have closed my accounts. So if you bank at huntington and use bitcoins proceed with caution. is it a business/commercial/personal account is your business registered with the state and IRS are you abiding to the wire transmission regulations I had a personal account to handle bills a business that was registered with the state and IRS and nothing with wires. Did they steal any money from your account? No funds stolen or frozen just all cards and debit cards cancelled and full closure of all personal and business checking and savings will be closed this monday apparently. Pretty shady if you ask me so does anyone know of any bitcoin friendly banks? you might want to try looking at the fiat side of your business and see why banks hate your business.. your obviously doing something on the fiat side they dont like. too many people blame bitcoin when infact its their fiat transactions that do not follow wire transfer regulations, let me guess you have moved more then $1000-$15000 in one lump/day to an entity. (meaning not a bill payment to another business) Theres nothing wrong i've done on the fiat side that I'm aware of I've always carried a healthy balance informed my banker of any large payments that were transferred or wired and why. I also always carried a savings that had plenty of funds that was never even touched. I'm honestly believing that this is due to bitcoin related transactions and trades. No big deal man, at-least they did not freeze or steal your funds. Its up to the bank whether or not they allow you, to let them hold your money, if they deem you are a risk its ultimately their decision. I will personally avoid this Huntington bank, and others will as well if this is true, sad thing is they are clearly in the wrong and going forward I bet they will reverse this stance if this was the case. I do agree with what Franky1 is saying, if your just funneling thousands of dollars between banks and not using the account like a "normal" person, this might seem fishy. I use several different Banking Accounts now, my Coin bank account is used to purchase anything that I consider "Virtual": Amazon AWS payments, Servers, Domains, Video Games, Netflix, etc. I also use the same account to pay for a cheap credit card that the same bank issued to me, max this out once a month to have something that looks like you are "paying" off with the coin account. So from their perspective they have more to lose than just someone with a savings account. Find another bank; all of them want the 25 dollar wire fee and for you too have limited access to your funds so they can profit! |
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Pls just leave the project on CIYAM for now, and soon I will get in there and update the CIYAM page. Lots of the sub-bounties can be closed and paid out, and I will slip in new addresses for the bounties that remain, so the funds can be visible again. Lots of progress going on lately!
Okay - glad to know things are still progressing fine (just a pity we haven't been able to follow the progress through CIYAM Open). I will keep the project active. I am following the project on Github, Fellowtraveler and several others are active. I see multiple submissions every single day or at-least a week to the OT Project. Best way I know you can follow the developments of this project. |
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This question will probably get answered better in the: Development & Technical Discussion board.
Several of the requests your listing, require authentication and probably some Header information to be sent to the server.
Example being: Coinbase you can GET the spotrate with a RESTAPI call, no headers added or authentication.
However if you tried to list your Coinbase transactions you need to Authenticate and use API keys for some methods.
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You can promote bitcoin when you are at establishments where you want to spend your coins, tweet at them and say you wish they accepted coins. Most companies have facebook pages, you should start doing that on their company facebook.
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I gotta say, I'm pretty pleased this started some decent conversation...
To go over responses:
Why would I trust a company with my credit card number and not my bitcoin wallet? Because my bank guarantees 100% protection against charges, and the government forces them to back that up. And yes, I've had fraud, and yes I've gotten it all reversed, that's not possible with bitcoins (there is no reversal of charges). And likewise (largely for franky): Credit cards offer a guaranteed payment to vendors up to a certain amount. If you're over-drawn or have insufficient funds, your credit card provider will chase you down for that money, not the vendor. Or in my case, Paypal will since I have it attached to my paypal account.
Regarding pre-depositing some large amount and spending it down...this is similar to what I do for Fastrak (pre-pay a small device that gets charged when driving over the bridges here in San Francisco). It's convenient enough and probably works. The downside is that at most that charge is < $10 (I forget how much the bridges are on weekends these days). I've had Uber drives (again, using that as an example) well over $100.
I'm in a place in life where it's all about convenience, and I happen be interested in bitcoins these days, and it seems like it can do quite a bit to make things more convenient (recently got a new Android device, the ability to send / receive bitcoins right on my phone is pretty sweet) and this just stuck out as something...missing if that makes sense.
It will continue to get easier. The infrastructure is being built as we type. There are a lot of exciting things on the horizon. This is true and I am excited for the future. As most of you probably read today the Apple App store legal language was rewritten to allow certain things like a Bitcoin wallet. As more infrastructure and services make themselves available issues like you mention will have multiple solutions. |
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I'm aware that not everyone is cognizant with what options trading is, so here's a simple definition from the SEC: "Options are contracts giving the purchaser the right to buy or sell a security, such as stocks, at a fixed price within a specific period of time. Stock options are traded on a number of exchanges."
Everything trades in options nowadays; gold, silver, wood, copper, cows, coal, cotton, stocks, YOU name it and it has options. Does bitcoin have options? Unfortunately the answer is no. There are many people out there who may have longterm bullish views on bitcoin, but aren't ready to take on short term volatility. If serious investors are given the chance to partake in bitcoin in a designated time period, they're more likely to do so.
So what can we do? Petition the CBOE (Worlds largest option exchange) to allow for options w/bitcoin. I know many people here aren't aware of how options work, but you must trust me on this on. It's absolutely HUGE. CBOE has nothing to lose from this, they'll just have another avenue of potential revenue.
Call their investors relations Mon-Fri and advise that they would be better off if they took on bitcoin.
Inside the US (Mon-Friday 9am-7pm) - (866) 301-8223
Outside the US(Mon-Friday) - (201) 680-6578
Lets go to Pluto people, lets get options trading for bitcoin!
Correct me if I am wrong, because I don't know too much about Options Trading. I thought that the Winklevoss brothers are in the process of doing what you are describing? It sounds like you know alot about options, if you haven't heard or read about what I mentioned you should certainly look it up. |
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If anyone knows how to stop Sunlot from getting Gox, please go for it.
I predict they will get it, based on the cast of "quality", well-connected individuals who make up their team.
Then...
The USA Gov will be one of the biggest holders of BTC, and in control (or strong influence) of a major exchange.
Time to look at some more alt coins..........??
I agree, Honestly I would never use a revived form of Gox, I am certain many others will not consider them either. Even if Sunlot buys Gox, Restores all Missing BTC to users and straightens out the ledgers, I don't think people will care. Only people who will care are those who who get their lost coin/money back so they can take it away from the site immediately. New users might see the restoring of the lost funds to be a security feature that Gox provides: (even if the exchange is hacked their coins are still safe)...Which is not the case |
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The only thing that makes me wonder if hes dead is the fact that he hasnt spent any of his coins. I just cant understand that.
I must admit that does make me wonder too. This community would go into meltdown if those coins ever moved. Can you imagine how many threads there would be and the excitement in trying to follow them? I think its likely that someone smart enough to postulate something as intricate as Bitcoin will not have monetary issues. Satoshi is holding to teach us the true value of a Bitcoin. I find it unlikely that whoever created this technology, and perhaps knows it better than anyone, did not back up the private key for his address. It is very probable that Satoshi has several wallets, I mean he created the currency, he had to run the testnet and main-net on at-least two machines for the Blockchain to start, to think he has a single wallet would be silly. I bet if anything he is just digging into the wallets with smaller amounts of coins first, couple blocks of coins here or there. |
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I can't imagine Bitcoin will ever become a reserve currency, I just see this as a new protocol for entities to implement within their businesses. Similar to how email's protocol SMTP was built ontop of TCP/IP. This was built ontop of TCP/IP to serve as a protocol for wealth transfer and storage.
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I hear some of those Islands are pretty beautiful, sounds like a decent place to part with some coins.
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