fellowtraveler:

I will be using OT in my project (using ruby on rails), I've been playing around with the demo client and server alittle and think it's just right.

However, when trying to get the bindings for ruby to build I was having some difficulty. I had ruby 1.9.2 built, and for openssl had it link to 1.0.0c openssl. But OT wouldn't build the ruby bindings.

Any tips, I am not a c cpp person, just a lazy and slow scripter.

Also a question about markets, this is one area I didn't play around with. What happens to the spread when a transaction occurs?

Actually I'm very happy you are on the bitcoin forums, you certainly know who will be the early adopters. Also any time frame for stocks and contracts that pay dividends will be supported ?

I have a little eless than 1000 btc and am now offering them for sale for Chinese yuan, but I know I will run out soon (already I have two people who will be buying,and I dont want to sell all my btc).

How can I get more btc to sell, whats the process for doing this?

Thanks for the reply, sadly that's more than I can afford.

Ubuntu LTS, maybe 1G ram, not too much storage needed so maybe a 20Gb, at least dual core cpu and unlimited data transfer (at least 50Mbps), Mainly for running a high bandwidth network service. Located... in West coast US or if possible far east Russia.

Once your system is compromised (you have a virus/trojan) then you have lost. Even with encryption, at some point you must enter a password to access your bitcoins, and once you do the virus/trojan will have your password, with which it can use to decrypt your wallet.

Don't get infected, don't become compromised. Use an Apple computer with OSX or Linux, these are the safest options. Staying with windows will become very risky in the future.

Damn you! I got so excited after reading the headline only to find that it was not true I thought I was rich for a minute there.

It's not, you can read the specs for it.

I think I'll be making use of this very soon ,thanks very much.

Have just had the server set up(and it's working just fine), just a man is as good as BTC.

fabianhjr, you can have up to 2Tb but I don't know whether just a man is accepting BTC for this.

Well you do what you would normally do, get a job....that pays bitcoin. It's not complicated and actually when using bitcoin it's easier to understand than in the normal economy.

In normal life you try to "get a job" and you "get paid" for "working", this is how most people see it. But actually you get paid for doing something for someone that they think is valuable enough to pay you for.

You COULD just try to buy your way into the bitcoin community with outside cash, but why bother, why not just work for someone who will pay you bitcoin?

What can you do? What are you good at? Tell us? Everyone can do something, you must have some kind of skill that is worth payin for.

He lives in the ventilation shafts of the building, and secretly sets up accounts and servers for BTC users when everyone else has gone home.

I'll send you the BTC tomorrow when I get at my home machine.

Your submit form is broken, it wants the postcode, but I have selected Ireland as the country from the drop down list so there are no postcodes there.

I'll have one please! But can you wait a day, I'm away from my home machine with my wallet (reminds me that I should backup my wallet).

Is that an entire machine all to myself for 10btc per month? really?

For the Yuan exchange market it's already, kind of available now but it's very informal, and I don't think all that useful.

Basically I have available Yuan500 cash (in a sock), this is worth about US$60 and I will sell for BTC2.5 for one Chinese Yuan.

I will then get a notepad and make a note that the amount of yuan you have purchased belongs to you. My only problem is getting the yuan to you at some point, unless you already have a Chinese bank account it would be difficult to transfer (probably impossible, and no use). It would be a kind of bank account in a way.

One thing that can be done is to use the currency to buy things in China (or have me/someone else) buy them for you and ship them to you(I am going to talk to someone about this on Sunday). Certain items such as bicycles are so cheap here that even with shipping costs it works out at a fraction of the cost of locally bought ones. The best value are those commuter, folding bikes.

I am trying to get one of my students to do the translation of the wiki so they can earn some BTC, they want to use a VPN service (I am pushing mullvad) to get unrestricted access to the net.

I think one of the things that you (as westerners) can offer to those in China at least (maybe not so much Korea) is information services. Access to private Tor bridges, vpn services and website hosting etc. Things that are all heavily regulated here (it is illegal to run a website in China without government permission, and you must hire some approved people to censor it).

I think quite a few people here have machines that are on most of the time, and I am sure that a few of them have good network connections. They could offer private Tor bridge nodes for a fee, charge a bit more and you could offer openvpn if you're confident.

https://www.mullvad.net does vpn for 24btc for 30 days so a tor bridge would need to be a bit cheaper .......

Translation services for those who speak second languages.

Remote buying, buy things for people and send them to where they are, for example I live in China, but if I wanted...a... <something made in the us> I pay you, you buy it and send it, and the same for me.

I'm not defending the author, I just think it's a useful tool.

RHorning is correct.

The backing of QQcoin was the virtual goods you could buy for your QQ avatar/profile/account, orginaly at least. Then it began to be accepted by ordinary people.

With the exception of comoditiy currency which has use other than as money (salt for Ancient Rome, cigarettes in prison) all money is "backed" by the goods and services people will trade for that money. No money is "backed" by a government or central bank, backed by what? this has no real meaning.

It's not an economics issue, it's more a clever use of cryptography than anything else.

The basic idea with ricardian contracts is that anything that can be traded can be represented with a contract. For example:

Lets say we are using an exchange, and on this exchange I want to trade silver coins.

So I make a contract that says anyone who has it (the contract)can redeem it for silver coins. So to trade silver coins you trade the contract. When you actually want the coins give me the contract and I give you the coins.

Now lets say I want USD for the coins, then I set the ask price at X USD, you give me a contract that says the bearer will be paid X USD, I take it to the issuer and get my money.

These are only some of the basic things that can be represented in a contract, share, bonds, futures are all really just contracts, and you can make them as detailed as you like. And its the contracts that are exchanged on a market.

*Note you must understand basic public key cryptography for the next part to make sense

Now with ricardian contracts it's just an electronic form of a contract, a text document or textfile. And the contract is signed(using their cryptographic key pair) by the issuer(whose public key is available to verify), it's signed by the market exchange it's traded on and finally it is checksumed, so that it can't be changed without it being noticed.

And the really useful thing is that the checksum is the contracts id on the exchange, instead of using a ticker symbol like USD or GLD, instead it's something like 24ea1163ea6c9f5dae77de8c49ee7c03

And it's up to the buyer to properly understand these contracts and to know whether the issuer is trustworthy so they dont get burned or cheated.

My understanding of Triple entry accounting is again it's a cool use of cryptography.
The basic idea is that the receipt becomes the transaction. The buyer pays the seller, the seller makes a receipt showing payment,it is signed by the seller, the buyer signs the receipt showing a trade, then the exchange signs the receipt and the receipts id again is a checksum of the signed receipt(meaning that it cannot be changed by any party). This process is now proof that the transaction happened, it is verifiable and impossible to forge. Or something like that.


No, the argument is that the receipt IS the transaction, or at least it is the full record of it, and when talking about an exchange the transaction is the swapping of contracts(electronically). To actually get the goods you must redeem those contracts (I think this is the clearing process of stock trade).

As funny as this is I really do think it will be a mark of bitcoins success when it is accepted by hookers and other....non... somethings.

I mean it will show that bitcoin really is free, and all can use for any purpose. And there is almost nothing anyone else can do about it.