WOW... the lack of common sense is truly a sight to behold!
Quite simply, this WOULDN'T happen with cash - so therefore wouldn't happen with Bitcoin
....I don't see the confusion
Cash = legal tender. Gold != legal tender Gold can be confiscated if you buy it and it was stolen property. Can't you read my prior post, or are you fucking blind? Legal tender is given this protection, because the government provides consumer protection against theft, e.g. FDIC insurance, tracking down serial numbers on bills, chargebacks on credit cards, etc.. It is their racket, and so they give it is special status. Since most gold gets melted and recombined over and over, and there is a lot of gold theft, is most gold subject to confiscation now as most gold contains some part that was stolen at some point? |
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Last I heard CampBX lost their bank and were setting up to get a new one. without that, you can't send money in, I imagine, or send out. That was my assumption so I moved all my bitcoin out of there.
That was a month ago. I bought bitcoin at a loss and moved out too. A shame as I liked CampBX. |
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Sorry if this was discussed, but in USA if you buy stolen property and you are caught with it you have to return it to the original owner at your loss.
Now, lets say someone did steal the Mt Gox. Bitcoins, and then you bought some of them unknowingly.
If they could trace back through the blockchain that those bitcoins were indeed stolen Mt. Gox. coins, wouldn't they be able to take them back from you?
I doubt that this would happen. The Bitcoins would not have the same address. They are not the same Bitcoins. Maybe Bitcoins obtained straight from a stolen source are one thing, but Bitcoins that have transferred MANY times with differing amounts over a year? What basis would that be? They do not do that with cash or currency. |
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If you take paypal you take a risk. That risk is reduced but not eliminated by mailing with a fully tracked carrier which internationally is quite expensive. Convince your clients to use BTC by making it cheaper.
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The coins have not moved. Hopefully the private keys are lost and not stolen. I would rather see people get money back, but if not it would be better for the coins to lost and further stabilized bitcoin then for a thief to have them and dump then.
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Assume that all buyers would settle 100% of clients' funds and start MtGox again, who do you trust to run MtGox?
Samsung Heavy Industries. |
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While reading about the demise of the exchange and the supposed loss of 700k Bitcoins I realized that the whole thing seems like a collapsing ponzi pyramid and not just a case of total ineptness. If it can be conclusively proven that this was a ponzi scheme there is no doubt that some hefty prison sentences will be handed out.
obviously this is just conjecture, but please let me know what you think.
If Gox paid interest (to lure more and more deposits) and paid expenses and salaries out of deposits until it failed it would be Ponzi. Gox WAS PROFITABLE. At least before thefts. Excluding thefts they were making more money then salaries and expenses. Enough to pay investors if there were any. But somehow they did not see their looses to thefts (if these thefts were real is a different story). They were not a Ponzi. |
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Canada, before and after tar sand mining: Sure, this sucks but it has NOTHING to do with Bitcoin. Most electricity in the USA comes from nuclear, natural gas and coal. Tar sands is oil and that is less then 1 percent of US electricity.  |
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Let's not forget that in Canada, I use my rig to heat up the house in winter.  During the winter, 100% of my rigs are offsetting heat. |
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I am confident that the price of BTCUSD will trade around 100-150 the coming months at ALL exchanges, not only MtGox. Sell your coins at BTC-e and other exchanges while greater fools are paying huge premiums to you. Current situation Original analysis from 6th of Feb 2014Looking at your charts I see a huge price increase coming as we bounce off the lower line. |
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Oh ok *deletes post*
Lol, genuinely? What would th implications of doing this be? Just a huger blockchain for everyone to download?
at the moment a 1mb block calculates to a 52gb blockchain per year. . if and only if the whole 1mb cap was filled with data. but with bitcoin entering its 5th year, the entire blockchain sits at under half of 52gb, which over 5 years averages out as only 10% utilised. so until we see more blocks being fully filled up, then the 7tx/s is not an issue. if you would like to learn a more prominent issue that does affect us today, which should not affect us for many decades. then research into mining pool scripts. right now 25btc for an average 10 minutes worth of work is ample. yet miners greed is demanding people pay a fee on the transactions, to such an extent that pools coded by Luke Jr are now ignoring a majority of fee free transactions. Luke Jr posted that the eligius pool only allows 1 unpaid transaction per block. the way to imagine it is the railway network. where there is 10 carriages, 1 carriage for first class passengers and 9 for coach class. they only allow one coach class passenger on per train. the other coach passengers have to wait for a different companies train to arrive at the station to get onboard. translation: with 10% of a block being filled by fee paying transactions, and although there is room for 90% of a block for everything else. eligius only allow 1 transaction without a premium. it does not cost a rail company or a mining pool anymore to have a full train/block, but its done to force people.. yes people, you and me. to pay more just to get accepted. miners should not be demanding more value via transaction fee, they should however demand more value by hoarding their reward and getting better value on exchanges :O shocking, I did not know this, and I mine at eligius. This feels contradictory to the very nature of bitcoin. Time to go over to their page and have a word. That is his philosophy on fees. I doubt talking to him will change that. I think many miners mine there BECAUSE of that philosophy so he would probably loose business if he changed it. You can switch pools to a pool that has a more open philosophy (to free transactions) if yours is different. I think Mining.bitcoin.cz allows for more free transactions per block though this information is now harder to find. |
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It's a virtual and physical asset, a stock in the network, a form of exchange (currency-value), and a commodity, all at the same time.
It can be spent, traded, earned, lost and destroyed... But not duplicated, extended in whole volume, or directly regulated beyond acceptable network programming. Thus, not a FIAT. (Just for the anti-counterfeiting alone, it will save us billions in losses. Ahem, Russia, Zimbabwe-dollars.)
How stupid you sound... No, it is not a "physical asset", it is not a "stock in the network" and it is not a "commodity". You barely got right about the medium of exchange. Yes, it can be "duplicated" (a.k.a. double spend), it can be "extend in whole volume" and it can be "directly regulated". A double spend is not a duplication. The network never allows two spends for the same currency to be confirmed. Someone can be tricked/cheated but Bitcoin does not allow the same coin to be spent twice. |
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The beauty of Bitcoin is:
Over the weekend I sent approximately US$6,000 in BitCoin half way round the world. Fee was approximately .38cents
Forty five minutes, all confirmed and ready to spend.
Try doing that with a bank on a weekend, or any other day of the week.
No bastuards at the bank involved.
It puts a smile on my dial every time I see BTC fly.
tax evaders also smile when they park their funds on the caymans. exactly the same thing. the only real difference is, they have at least a little bit of shame and aren't boasting about it usually. you kind of disgust me. Wow, first time I have been called a tax evader. What does my post have to do with tax evasion? Its morally the same thing. You don't want to pay the fees everyone else is paying to keep the system up. It's selfish and unethical. But of course it's not illegal. Just like speculating on food and making people starve to death isn't illegal. The problem here is you guys confuse legal with ethical. Thats insane. He is willing to pay fees (not that it matters), he just paid them to the Bitcoin network because it is faster and they cost less. That is the open market at work and customers now having MORE CHOICES. |
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This whole malleability fiasco has shown once again that zero confirmation transactions can not be trusted.
You do not understand what transaction malleability is. If I am taking an in person transaction sent to my own Bitcoin address and I see it unconfirmed, and it is for some reason altered, I still get the Bitcoins. They just have a different transaction ID but they end up in my wallet anyhow. PS - I took an in person Bitcoin transaction today, along with doing several purchases with Bitcoin and selling online items out of my store. |
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If we go down to 10USD bitcoin will no longer be the Worlds crypto, something else will step in. Please don't be Doge lol.
If Bitcoin goes to $10 it will still work. Same at $5000. Bitcoin has by several orders of magnitude the most merchants accepting it. None of the others have any real volume of merchant acceptance. |
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That logo is absolutely hideous. I like the black polo with just the bitcoin on it.
I have those in my store as well, and they have been big sellers. |
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