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I'm pretty sure it was 0.012 USD/BTC at bitcoinmarket.com on July 12th, 2010. The lowest trades on that exchange were for 0.003 USD/BTC (April-May, 2010) so you may need an extra poll option to cover everything.
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With the startling buying pressure following the FinCEN guidance I allowed myself to buy some at about 92 USD/BTC on the way up to the April 2013 peak.
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In a market of sufficiently skilled traders and speculators the halving will have no direct impact on the price at all. This is because while monetary inflation will indeed drop sharply, there will be speculators that accumulate bitcoins before the drop and release them after the drop to compensate for this.
Unfortunately, the Bitcoin market is full of amateurs. While there will undoubtedly still be a few keen whales out there that understand the basics of this halving mechanic and wish to clean up, they'll be confronted by an irrational mass of traders which, taken together, may represent a substantial chunk of trading volume. The real game is in predicting and reacting to these traders and their sentiment. Perhaps the price will plummet as everyone tries to buy bitcoins now and dump them after the halving. Perhaps the price will skyrocket as everyone buys in on the news that inlfation has just halved. This kind of uncertainty can give rise to volatility, even before the event.
One final indirect factor the halving may have on the price is in how a sudden drop in mining reward affects miner's willingness to mine. If worldwide variance in mining efficiency (GH/s versus costs) is large at the time then the subsidy halving shouldn't cause any substantial block-frequency problems. If variance is very low (only the most efficient miners are running) then the drop may make most/all miners instantly unprofitable and cause real transaction processing problems (as they drop out) which will mar the image of the network and hurt the price.
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Happy Bitcoin Day everyone!
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When you check into a hotel, do you say "I'm not gonna need those stupid pillow mints, i'm not even gonna use the bed, so you have no right to charge me for it"?
Living in a country is like that.
Checking into a hotel requires the consent of the customer. Being born in a country involves no such consent. The difference is night and day. |
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Meanwhile, 2014's best performing currency has apparently been the Somali shilling.
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You did not write anything on the blockchain. You wrote on a third party website.
This third-party website writes the data to the blockchain. Those running Bitcoin Core on Linux and have block #335516 can verify that the message is there with the following hexdump command: > xxd -seek 20132471 -len 7093 ~/.bitcoin/blocks/blk00211.dat | less
The output will begin: 1333277: 5768 656e 2069 6e20 7468 6520 636f 7572 When in the cour
1333287: 7365 206f 88ac 2202 0000 0000 0000 1976 se o.."........v
1333297: a914 6620 636f 736d 6963 2065 766f 6c75 ..f cosmic evolu
13332a7: 7469 6f6e 2c20 88ac 2202 0000 0000 0000 tion, ..".......
Embedding this message in the blockchain cost the equivalent of about 1.65 USD. |
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The people decide what the government forces them to do...so the people pay takes because they've all agreed they want to pay taxes to pay for collective services.
(emphasis mine)Even if we were using a perfect, corruption-free, direct democracy, all we could say is that taxes are taken because the majority of people want taxes to be taken. |
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1. If an offline HD is 95% as secure as an offline computer, what are the 5% of insecurity?
Easily less than 5%; probably less than 1%. I'm just leaving a tiny window for malicious firmware, BIOS viruses, and so forth. This is basically irrelevant. Bear in mind that even the ideal offline computer setup entails some risk. Can you trust Bitcoin Core? Can you trust Armory? Can you trust my advice? There's risk in everything. 2. I didnīt know I could use a usb as main HD with OS. How to do that?
That's going to depend on your OS of choice. You may also want to look up "LiveCD"s, especially in conjunction with Bitcoin, to see if others have already done the hard work (of course, avoid dodgy-looking reputationless setups). 3. Supposing I already have 2 HDs working fine, how to transfer files from one to another without the risk of transfering malware to the offline HD in the process?
Only copy across using the offline system. You should not execute anything on your first drive while your offline system is running, but a good OS will be able to ensure that while allowing you write access to the first drive. |
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What if I buy a new HD and use it just for bitcoins, without my original HD, and then I turn off computer, unplug HD, plug the other one, so on so forth? Will that prevent trojans or can they be in other devices than HD, e.g. boards, cards, etc?
In other words, instead of an offline "whole computer", is it enough to have just an offline HD, or is there some weakness to using 2 HDs with one computer? And by 2 HDs I mean they are connected just one at a time, never together, each one has its own OS, etc. Just the same Mobo and cards.
This strategy will provide a lot of extra security in my opinion (95%+ of the way to dedicated offline computer). The second drive with its own operating system could reasonably well be trusted to hold your private keys provided this system never sees the internet. Disconnecting and reconnecting the first drive sounds like overkill (the OS should be configured to just ignore it) but disconnecting and reconnecting the second drive (which will likely contain sensitive information) is a small gain. With this setup you'd probably want to install Bitcoin Core + Armory on the main machine and Armory on the second. You can then use Armory on the second to create private keys and sign transactions. You'll almost certainly want to create a second "hot" wallet on your main system. Depending on your motherboard and preferred OS, you may find a USB drive to be a cheaper and more convenient home for your second OS than an HDD or SSD. In either case, you should treat this second drive as you would a paper wallet (unless you encrypt the drive or wallet with a passphrase with significant entropy). |
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2. Which means each address can be accessed by 2^94 private keys?
We hope that this is at least approximately true. But that doesnīt matter because the chance to find an address with money is still like finding an atom in a galaxy?
Perhaps more like finding a particular atom in the ocean. 3. Ok, I went to this site, you have to be offline and then it will give you a private key, I note it down on paper and thatīs it? No one will ever be able to figure it out, except from reading my physical note on paper? Hopefully. Just being offline doesn't guarantee that the algorithm used by that site isn't designed to select a small subset of private keys which the site creators know. Using well-established code written by reputable people will help here; I personally can't vouch for this site. If after writing down the private key you ever reconnect to the internet you're leaving a window for a trojan of some kind to note down the private key and upload it once you reconnect. This can be mitigated a bit by power-cycling before reconnecting, or mitigated a huge amount by formatting all drives and reinstalling the OS before reconnecting. You can also gain some small advantage in this area by creating a separate user just for handling Bitcoin. If you print it you have another device to worry about. You gain a little something by writing the private key down by hand. None of these attack vectors is especially likely here so you should be fine to try it out with small amounts. But, when I want to send money from my address to another one, I will have to write my private key on computer, at those few seconds, when I do that, how can I be sure a malware will not save it and then send to hacker? And having an offline computer is not an option for me.
If you have no offline computer (and are incapable of performing all of Bitcoin's various cryptographic functions manually on paper) then you'll have to settle for "almost sure". This then becomes a question of how secure your computer is. |
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4- How many digits has the number 2^256?
4. 115,792,089,237,316,195,423,570,985,008,687,907,853,269,984,665,640,564,039,457,584,007,913,129,639,936 Just to clarify: 2^256 = 115,792,089,237,316,195,423,570,985,008,687,907,853,269,984,665,640,564,039,457,584,007,913,129,639,936. This is a 78-digit number. |
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Oh, shit, maybe we hit peak paid troll?
I don't think this board's hit "peak troll" yet but we must be close. Personally, I'd quite like to see a troll-level chart and perhaps read some speculation on the future troll level. |
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Be strong Charlie. Our thoughts are with you.
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... if the government did not provide national security then the counrty would be vulnerable to invasion,...
Not necessarily. One could imagine a collection of competing defense contractors interacting with insurance companies to provide very efficient defense services to a significant number of high-profile clients. There would of course be some free-riding but it's far from clear that the situation is unworkable and, indeed, the inefficiency attributed to free-riders may turn out to be far less potent than the inefficiencies inherent to state-managed national security. |
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As far as I can see you've been honest throughout, even charitable by absorbing the client's losses.
I'm not sure why this woman from the Philippines was using your service but, given ntsdm's behaviour, I rather suspect that he recommended your service to her and made many promises about payouts which did not come to fruition. Rather than admitting his error and offering to cover her losses from his own pocket he's trying to frame you as the villain of the piece. Most people will shun/block him. You are not hurting this person; he is hurting himself.
Have you made contact with the client?
Do you have a system of alerts or reminders which prompts a client as profit approaches/hits zero? If not, you might consider adding such an optional feature, enabled by default, to keep your clients informed.
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@digicoinuser: I sent you a PM a couple of hours ago. Did you miss it?
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Correction- "how did you 'loose' your bitcoin".
lose |
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How did they go from "16^54 mod 17" to "3^(24*54) mod 17"? Don't seem like the same numbers to me, and the transformation isn't further explained.
From 4:26 in the video we know that 16 ≡ 3 24 mod 17. Therefore 1654 ≡ (324)54 ≡ 324 * 54 (mod 17). Of course, While Alice has received the value 16 from Bob, she doesn't know that 16 ≡ 3 24 mod 17 because she does not know Bob's secret number and cannot solve the discrete logarithm problem. What Alice does know is that 16 ≡ 3 [Bob's number] mod 17 and she can therefore calculate the shared secret: 3[Alice's number] * [Bob's number] ≡ 354 * [Bob's number] ≡ (3[Bob's number])54 ≡ 1654 ≡ 1 (mod 17). Equally, Bob knows that 15 ≡ 3 [Alice's number] mod 17 and he can therefore calculate the shared secret: 3[Alice's number] * [Bob's number] ≡ 3[Alice's number] * 24 ≡ (3[Alice's number])24 ≡ 1524 ≡ 1 (mod 17). |
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Under the test, house prices would collapse by 35%, unemployment would surge by 12%, interest and inflation rates would rise and financial markets would collapse by 30%.
The stress test looks pretty stringent to me. If most banks have not failed it, this is good news.
They only push interest rates up to about 4% in these stress tests. That doesn't seem altogether so stressful given historic norms:  The base rate has been pretty much flat at 0.5% since 2009. |
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