ill change it for you

here you go heres £35, should be enough for a few pints down the pub

to feed your paranoia.
QR codes are not made by someone with a pen doing dot to dot. in 99% of cases people use googles QR code generator or blockchain.info, or an app designed by a third party to grab the QR Code image to then print out. whats stopping those third parties from keeping logs of every string of code it receives to convert into a QR Code image.....

banks third party services, paypal are the digital protection.

paper notes EG bank notes are irreversible without a fight and maybe a bit of blood, or a slap across the face with a wet fish if refusal to repay occurs. or if your night a fighter. then a small claims court case.

so here is the solution..

escrow for digital protection. (a comparitive to banks, visa, mastercard and the dreaded paypal)

and bitbills, cascasius coins for irreversible instant transactions..

now that is one possible future path bitcoins can take.

2 points to make

1. ever since the minimum wage came in. it became widely known that one hours minimum wage is worth £6.20 .. and a mirror to that obviously is that £6.20 is worth 1 hours minimum wage. put it into context of other things. EG a loaf of bread or 4 pints of milk are worth 10 minutes of minimal labour each.

now on that scale the promise would be that you will be paid in something in the equivalent to just over 1 hour 30 minutes of minimal labour in exchange for a £10 note if the bank note disapeared and the government had to trade your bank notes for something new/different.

now lets move onto bitcoin. although its harder to judge true value. i have seen the network hash rate of mining and seen similar waves as the network hashrate sky rocks so has the price. and where the price sky rockets totally unrelated to network hash rate thats where things like the 2011 spike and dump happens.

as long as you can see some form of correlation between new users buying into bitcoin, network hashrate. then bitcoin has a value. if you cannot see the price follow any pattern or statistic at all, then its a speculated bubble.

bitcoin is still too new to have one single set guideline for its value.

point 2.
FSA have no issues of you making bearer bonds and promisary notes. they do however have issues with reproducing the UK pound note using the word 'pound' the symbol '£' and the queens face all in one place without their consent or explanation. but so as long as you ask FSA and the UK government you can (with alot of paperwork and red tape) make your own pound note.
take these guys for instance.
http://bristolpound.org/

the protocol doesnt need to change. bitcoin can still be irreversable. but exchanges can adopt policies that if a merchant is scammed then the merchants access to fiat is frozen. and their identity (due to high volume trades) is passed onto the authorities.

much like paypal cant stop a delivery of goods mid flow. of demand the merchant sends the goods that are promised. but they certainly can use merchants /customers identity and access to the service to cause enough headache to sort out a few genuine issues.

it aint much of a stretch of the imagination for places like starbucks to get a MTGOX account right now, not in a few years. but now. and just request MTGOX codes for payment for coffee..

instant confirmation. and out the door while the coffee is still piping hot with a layer of throff on the top

exactly my point.. he thinks anything growing at more then a 45% must be a bubble... hense me facepalming, just reading that article

i read the first couple paragraphs and just facepalmed that the article missed so many examples that disprove the article


here is a link to an image that gives away an example. i wont use the image tag as i dont want to give it away before you read what i had to say above first.

example

next is talking about why the article continues to assume btcoin is doomed to fail


the same can be said about gold and silver. but guess what guys. while gold bars are for investors, gold nuggets, gold dust ingots and coins can be used as "currency".

hang on.. how about BITCOINS for investments. and satoshi's for currency.. problem solved.

that being said, bitcoin legally would never 100% replace FIAT, but keep in mind, there are 7 billion people in the world. it doesnt need EVERYONE holding bitcoin. infact it only takes TODAY 12 million people (amount of bitcoins in circulation today) to want to invest just one months salary of £$€1000 into bitcoin. to make bitcoin instantly worth £$€1000 each

that is just 0.17% of the population putting only EVER one months salary into bitcoin.

so how do you like them apples.

food for thought

what a load of FUD

there was no exploit, there was no hacks or thefts done by the exchange. it just shows that you would rather beleive the scare tactics of the troll box then to learn the actual facts of the case.

on april 4th a majority of exchanges and pools got DDOS'ed. for those that are not aware a ddos is not a hacking method to steal money. it is a method to just push so much information into a website that it lags.

BTC-E decided to disable its email servers so that more server power went into active trading.
https://btc-e.com/news/128

other exchanges have been known to temporarily remove/disable less key systems to ensure stability for the more general user.

on april 9th the email servers were switched back on
https://btc-e.com/news/131

so those that did not get emails, please don't call it an exploit. it was in the announcements from the 4th of april. so keep an eye on the announcements. they may lack english grammar but atleast they inform you better then mtgox.

i for one am a person that if something looks dodgy i will go out my way to look into it *cough* BFL *cough*   but BTC-E although run by russians where most trolls stereotype them as 'russian mafia', BTC-e has done a great job when actual hacks occured last year and they dealt with it in a speedy time, without anyone losing out.

that being said. they are still a third party. so using them as a long term bank, using anyone that is not yourself as a long term bank is something you all need to think about intensively.

only put in the funds you want to play with in, the day you want to play with them. and withdraw it before you go sleep. only truly trust those people long term that you know, and are able to slap across the face with a wet fish if they deceived you.

remember its your money, no banks will bail you out. theirs no government insurance policies against loss. so trust yourself to be wise with your funds.

i have many coins but i would only keep in a few coins overnight that i deem a safe risk to add a few pennys if the orders hit. i do the same with institutional banking systems also, so its not just a bitcoin precaution.

what you will find though is shouting abuse will not get speedy results. infact they are within their rights to put your issues to the bottom of the pile if you become abusive/extortionate.

a decimal of a dollar is not called a dollar.. it is called a cent
the decimal of a UK Pound is not called a pound its called a penny.

the decimal of a bitcoin is a bitcent. the decimal of that can be bitmills. the decimal of that can be microbitcoins. the decimals of that can be called satoshi's

this is alot easier then calling
0.01 a bitcoin
0.0001 a bitcoin
0.000001 a bitcoin
0.00000001 a bitcoin

so as alot of people that have been around for atleast a year call it this.
this is alot easier then calling
0.01 a bitcent
0.0001 a bitmill
0.000001 a microbitcoin
0.00000001 a satoshi

seems the app is not legit. its a wallet belonging to a thief that randomly steals coins from people.

as the other poster said, stick with legit wallets. especially if the developer doesn't want reveal themselves or give you the ability to play with the private keys breaks atleast two of the basic rules even noobs should know when and be wary of when using bitcoin services.

EDIT: Agreed with others, if it was legit app, it would definitely be classed as a great app.. just a shame its run by scum.

might be worth reporting it to facebook they have a rogue app. then get someone with a heart and a brain to come forward and develop a legit version

as i said before the satoshi dice is showing everyone an example of the future. where most transactions will be done in satoshi's due to bitcoin value being many hundreds of dollars each.

allowing fee's to be high to block/ignore satoshi dice transactions is not a good thing now or for the future of bitcoin. It's just a lazy and ignorant way to avoid thinking about the future of bitcoin, purely for selfish and personal profit of miners today.

think of the future. develop the clients/miners to accept satoshi payments easier without causing the network to struggle.

i want to ensure that in a couple years i can buy chewing gum at walmart for under a dollar (when valued as only a couple satoshi's) without having a 3 hour confirm time or a $1 fee due to miners ignorance/selfish profiteering. think of the community and the future, think outside of the box known as your own pocket.

use satoshi dice as a test bed of how transactions will be in the future. not as something to be ignored by overpricing the fee's in the hope satoshi dice will die.

the idea of satoshi dice is actually in my mind testing/showing the system as it will be used in a few years time when a bitcoin is thousands of dollars each, millions of people will be trading only satoshi's between each other.

so instead of putting in fee's which add up now to WELL over a few cents/pennies. the extremely well paid bitcoin foundation should use the satoshi dice as an example of the future transaction styles that will happen. and make bitcoin cope with it.

instead of trying to evade and avoid dealing with small transactions.

a couple years ago bitcoin was shown to be a free market where transactions are virtually free and you can send any amount in seconds.

but now

costs are 5cents or by avoiding fee's a single confirms can take alot longer then 10 minutes.(hours in cases) and may not even get accepted if its only a few cents order. so there goes any chance of me wanting to buy a pack of chewing gum without waiting using bitcoin

so like the OP say's sort out bitcoin to cope with small transaction spam as its not spam, is just an example of the future transaction sizes and quantity.. because once not just the niche market of crypto/drug/programmers/libitarians really start to use bitcoin but also the mainstream population then you will see many many many more satoshi (under 1btc) transactions happening.

so use satoshi as an insight to the future.. not as something to ignore..

and also

REDUCE THE FEE

as soon as you import a private key into a client. treat it as dynamite. very risky
spend the coins you want. but then make a new paper wallet and send the coins in the client to the new paper wallet.

dispose of the old, empty and used key.

don't hold onto your used private key as its hot.. not cold.

anything that has ever touched a client is not considered cold.

bitbargain.co.uk are a great fast service that are UK based using the "faster payment" service bank uses or barclays ping it. means there are no bank fee's..

edit
but the sellers will have a +£x price over Gox estimates which which may vary depending on the price of bitcoin, which you will find with any service.

800Mhash miners are already available in retail stores.. look at the top end GPU.

shortly 4Ghash, 65Ghash to 100Ghash will be standard where the Mhash-1Ghash units will be obsolete.

i know a few manufacturers in developments of this now. it wont be sold retail. it would be more whole sale so that entrepreneurs can the set up their own retail stores to then battle against corporation profits

bitcoin is the new economic freedom so why give the profits to the fatcats in boardrooms. thus also avoiding governments from regulating corporations to have firmware that includes blacklists.

if a web app. id have escrow built into it as standard. so that one person cant then make 100 clones and rate his other 99 names without showing a valid trade has taken place.

i personally do not take the otc rating onboard as my guide of trust.

there is in the UK a service called bitbargain.co.uk that has a built in escrow and shows exactly how many trades of actual coins a person has done, how many times the deal has been cancelled and how often the person did not respond.

this to me is a far better and trusted system, not only because of escrow, but because the rating is not just based on someones response. but based on actual trade information

bitcoin and luck do go hand in hand.

i told a girl i met at a bar that i was an international currency trader (technically not a lie)

short story.. i got lucky

to have spend a good time writing this article shows you have some emotion involved. i dont want to own.. um... ants so id never write a 3 page article about ants. so theres probably a hidden agenda why you wrote such a article highlighting only the bad and not considering the potential.

bitcoin is still new, entrepreneurs have a new economy to start fresh business, to start fresh projects, idea's where those that like regulation can create, manage or just use xyz exchange that is fully regulated. or others that don't like regulation can use abc exchange. side by side with no fighting, no wars because bitcoin is the true freedom of currency.

if you dont like the 10minute confirms then set up a service like mtgox deposit and codes..(ignoring the live trades side of mtgox for now) where people put in 1BTC while taking a shower in the morning. by the time they get to starbucks that coin is pre-confirmed. and starbucks asks for a MTGOX like code to shift the balance from the database column of customer A to starbucks balance column for digital payments, or starbucks can accept casascius coins.

now starbucks can withdraw or convert the coin at their leisure, reassured that without waiting the coin is genuine.

for every scenario in the article there is a solution. so remember this.

ITS NEW, its growing, its YOURS. so if you dont like something, your free to make a solution to the problem. if others like your solution they will use it too.

its economic freedom at its best, and the other freedom you also have is to not touch it and have no emotion towards it.

lesson one
dont use online wallet for long term storage. only use for daily 'pocket money amounts'

lesson two
even if you have forgot your password, as long as you have the private key to your hoard you can use it anywhere.

lesson three
the private key is the most important thing in your life. keep it as a paper wallet. when you intend to spend a small amount of coin, produce a new paper wallet. Import the first(old) paper wallet to a desktop/web client do your spending and send the remnants/change/ hoard left over to the address of the fresh UN-IMPORTED paper wallet.

that way no hoards of coins remain in programs/cloud services.

here endith the lessons