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3521  Other / Meta / Re: PM replies.. on: October 21, 2012, 10:30:40 PM
Ah, gotcha. Just felt so frustrating being in the middle of a couple of deals to suddenly be locked out. Bitcoin is exciting.

For doing over-the-counter trades, you probably want to get yourself set up with GPG and start using that.  When trading on the forums, you might think you are trading with the trusted forum member but in reality it could be a compromised forum account and you are about to send your bitcoins into some scammer's pocket.  With the -otc Web of Trust (WoT), if the person has authenticated, you then are nearly guaranteed that the party you are trading with is truly the same party whose trust history is well documented.

 - http://www.Bitcoin-OTC.com
 - http://webchat.freenode.net/?channels=#bitcoin-otc-foyer
 - http://www.bitcoin-otc.com/viewratings.php

There's always IRC chat, Skype, GibberBot, text messaging, and Crypto.cat
 - https://crypto.cat
3522  Other / Beginners & Help / Re: Bitcoins Disappearing!!!... on: October 21, 2012, 10:10:30 PM
I am very new to bitcoin. I have a blockchain a mtgox acct and I check it at blockchain. I've been going to free bitcoin sites and I've been getting a few bytecoins but it seems as though there is a lot going out and I'm not sending them. I looked at the "reverse taint" that shows where they are going and click on the "who is" link and it always seems to go to a site Hurricane Electric. Can anyone explain this to me?

First ponder this question:
  This morning I deposited a $20 at my bank.  Later in the day a friend of mine withdrew cash and got that exact same $20 bill (let's say I had written down the note's serial number).  Is my money at my bank disappearing?


When you have a hosted (shared) EWallet, like what Mt. Gox provides, you do not own that Bitcoin address.  Instead the EWallet provider (Mt. Gox in this case) owns it, and they simply credit your account each time a new payment arrives at that address.

Once those funds are credited, the coins themselves might be moved to a consolidation account, or used for a withdraw by another account holder at Mt. Gox.

The only way to know your balance at Mt. Gox is from the Mt. Gox user interface (or API), and not by monitoring the Blockchain.
3523  Other / Beginners & Help / Re: Block 0 Network Fork on: October 21, 2012, 09:49:20 PM
Can you provide a link to the post that describes how Satoshi could create a fork if he were to spend the coins in block 0.

All that was saying is that if there were a release of the client where that bug was fixed, then the first transaction that spends from block 0 would be accepted by some nodes (those running the latest software with that fix) and it would be rejected by others (those that hadn't obtained the update).

Thus the blockchain will split, with some mining capacity happily carrying on with the the fork that includes the "block 0 spend transactions", while others are mining a different longest chain which has no "block 0 spend transactions".  Which of the two ends up winning depends on if enough exchanges, merchants and individuals will accept the coins the miners earned from mining on the fork.  If not, miners finding that their coins are worthless abandon the new fork (and the coins they thought they earned) and stick with the version of the client from before the change was made.

Thus that is a hard-fork feature.  

These hard-fork features aren't impossible to roll out, just that they require an economic majority to accept them otherwise you can end up with a forked blockchain.  To avoid this, the Bitcoin.org developers generally don't propose any hard-fork changes unless there is a damned good reason to do so (and a near certainty that the economic majority will accept the change).  So that Satoshi can spend his 50 BTC (plus whatever else has been sent to that address since [Edited: Thanks Foxpup]) is not a good enough reason to implement a hard fork.  And "fixing" it will potentially introduce the risk of this fork occurring, so it won't be fixed for now and this behavior is essentially now part of the protocol.

It isn't even something on the "wishlist":
 - http://en.bitcoin.it/wiki/Hardfork_Wishlist

3524  Other / Beginners & Help / Re: Can anyone help me buy some coins in the UK and not get ripped off? on: October 21, 2012, 09:36:56 PM
I really need to get some bitcoins but I live in the UK and my mobile is rooted so I can't use PingIt.  Please help me:) 


You can send cash (GBP) in the mail to Bitcoin Nordic (in Denmark):
 - http://www.BitcoinNordic.com


BitInstant is still in trial mode for their Online Bank Transfer method for buying coins using a bank transfer.  You can try there:
 - http://www.BitInstant.com



Of course, as you mentioned BlockChain.info now accepting funds from Barclays Pingit would be a good option, but if you can't use it from your phone, that takes away that option:
 - https://blockchain.info/wallet/deposit-pingit


Another method to buy bitcoins uses credit card through VirWoX.  How that works is you buy Second Life Lindens (SLL) with credit card, then convert those to BTCs and then you can withdraw BTCs.  With being a new user and using credit card there is about a day delay before you can withdraw, as they complete fraud checks.  They also accept MoneyBookers/Skrill.
 - http://www.VirWoX.com


You can purchase bitcoins with UKash from MercaBit.eu, BitcoinNordic.com and VirWoX.


And, as nomnomnom mentioned, there is of course the growing chance you'll find a local trade:
 - http://www.LocalBitcoins.com


And there may be other methods that work for you as well:
 - http://en.bitcoin.it/wiki/Buying_bitcoins
3525  Other / Beginners & Help / Re: Stock market on: October 21, 2012, 06:50:46 PM
are there any sites that let you invest on the stock market using bitcoins?

You are asking if there are any brokers who accept funds in the form of bitcoins that would allow you to purchase stocks on the public markets?

There are none in the U.S. that (yet) provide that.

There are online brokerages in the U.S. that take ACH / direct deposit transfers, which would allow bitcoins to be traded for USDs and then withdrawn as an ACH.  Any Bitcoin exchange that does Dwolla cash-out would work for this:
 - http://www.MtGox.com
 - http://CampBX.com
 - http://FastCash4Bitcoins.com

There is one type of market where bitcoins can be used to speculate on gold, oil / crude (WTI), and dollars:
 - http://ICBIT.se

There is also a bitcoin-based market where a handful of "equities" for unincorporated entities are traded -- MPEX:
 - http://polimedia.us/bitcoin/mpex.php

There are a couple of methods where bitcoins can be used to fund Forex trading accounts:
 - http://www.bit4x.com/
 - http://www.LiteForex.com

There is a hedge fund that announced plans to invest in bitcoins as one of its asset classes:
 - http://www.hedgeweek.com/2012/10/08/174393/emergence-electronic-gold%E2%80%A6

There has been interest in something like what you are describing, but none to-date have progressed to where this is available today:

Real Life Stock Passthroughs (eg AAPL)
 - http://bitcointalk.org/index.php?topic=112363.0

Buy/Sell AAPL with BTC/LTC
 - http://bitcointalk.org/index.php?topic=100688.0

There isn't necessarily a good reason that this isn't available yet today -- as long as the broker performs the same AML/KYC as a broker that accepts fiat does.  Because bitcoins can be used to transfer funds faster than a bank wire transfer even, it wouldn't be surprising to see support for Bitcoin as a funding method be one of the more common requests.  It's a natural fit, so it will likely be happening.  It is likely just a matter of time.
3526  Economy / Speculation / Re: The Weekend Dip Myth on: October 21, 2012, 05:30:03 PM
For scoring the Weekend Dip indicator's success though, $11.75 will be the amount used.  Looking for a dip by a couple percent below that for this weekend dip indicator to ring true.

Well, that was an exercise in futility.   There wasn't much of a dip and there's nothing indicating one is forthcoming before New Money Monday arrives.

So buying back at the current market rate of $11.62 means about a 1% gain, which got eaten up by trading fees.  Following the weekend dip strategy this past weekend resulted in a wash, financially.

Perhaps there will be some who made out a little better thanks to having perfect timining, trading out of some coins on Thursday closer to $12 and at least took a percent-and-a-half gain, but for scorekeeping, there was no benefit (nor harm) from doing the weekend dip trade this weekend.  

Now the weekend isn't over, and there still could be a little further dip, however trading volume is at a pathetically low level, just 10K BTC traded in the past 24 hours at Mt. Gox for example.  When that happens, all that needs to happen is for the tiniest bit of buying to propel the exchange rate up three percent, or five percent in a short amount of time.

That doesn't often happen in the middle of a weekend, but sometimes a rally will appear out of nowhere once Monday banking begins at Mt. Gox (which is in Japan, thus Sunday evening in U.S. timezones).

And the only protection against that when playing the weekend dip is to get back in before others speculating on the dip do the same.  And that time is now.
3527  Bitcoin / Development & Technical Discussion / Re: How to determine dormant coins? (Inspired by Shamir's paper) on: October 21, 2012, 04:26:00 PM
it's like trying to determine money velocity of the paper dollar under the gold exchange standard by studying the movements of gold between central banks

You pretty much nailed it right there.

Mt. Gox has twice now released "transparency" updates in which they share the amount of fiat deposits they received in the prior 30-day period.
This is probably the most useful metric in trying to come up with money flows into bitcoin.   But once that value is transferred into bitcoin, the difference between a pseudonymous digital currency and the traditional monetary systems becomes glaring.

3528  Bitcoin / Development & Technical Discussion / Re: If bitcoins go to $100 or even $1000 in value each, Could there be a Safeguard? on: October 21, 2012, 04:09:10 PM
If I understood the OP correctly, this would mean being able to broadcast legitimate-looking transactions which would be reversed at some later time. No.

And bitcoin offers a payment system with non-reversible transactions.   Adding a way to reverse transactions would lower its value as a payment system.  Changes to the protocol require acceptance by the economic majority.  The economic majority will not accept a change that lowers the value of Bitcoin as a payment system.

In other words, relief from the threat of being robbed at gunpoint won't be coming from changes to the protocol.  Therefore, other security measures will need to be considered.  Similar risks in other financial matters have been mitigated by requiring two signatures, or by splitting the keys, etc.   That's probably the direction to look with regard to the risk that was raised in this thread.
3529  Economy / Service Discussion / Re: further indicator: bitmit final price on: October 21, 2012, 08:51:05 AM
Is the final price a long-term-bitcoin-indicator?

Currently:
  5,000.10 USD (= 427.359 BTC) (75 Bids)
with 5 days to go.

I suppose if the amount gets to relatively frothy levels (just guessing here, let's say a hundred thousand or more?) that would be a bullish sign.  But auction sites have a very difficult time overcoming the chicken and egg problem so if the value of an online auction site doesn't get to a frothy level, that doesn't say much either way about Bitcoin itself, I wouldn't think.

3530  Economy / Currency exchange / Re: NO MORE BITCOIN SALES THROUGH DWOLLA on: October 21, 2012, 08:29:44 AM
Um that part you bolded isn't new.  It has been that way for almost six months now.  I guess some people never read their TOS.

they just shoved the new terms if my face when i logged, forgive me if i didn't know the old terms

The only thing that appears to be new was the Guest Checkout section:
 - http://bitcointalk.org/index.php?topic=119183.msg1282351#msg1282351
3531  Other / Off-topic / Re: Hedge Fund accepting bitcoin. on: October 21, 2012, 07:35:48 AM
http://www.hedgeweek.com/2012/10/08/174393/emergence-electronic-gold%E2%80%A6

Quote
“We will hold the Bitcoins securely in a Swiss vault over a period of three, five, 10 years. The fund will be a regulated entity through which institutional investors will be able to access the Bitcoin market,” says Knyazev.

Does that mean they will hold paper bitcoins ?


Well, "paper bitcoins" in the same way that shares of crude oil in an ETF are paper oil (basically a contract representing a physical asset )

Related:

2012-10-08 hedgeweek.com - The emergence of electronic gold...?
 - http://bitcointalk.org/index.php?topic=117289.0
3532  Economy / Service Discussion / Re: [ANN] 700,000 Cash Deposit Locations in Brazil, Russia, USA - BitInstant on: October 21, 2012, 07:26:22 AM
What's the easiest way to convert a check to bitcoins in my wallet? BitInstant?

Personal check?   In the U.S., Camp BX is likely the only exchange to accept that funding method:
 - http://www.CampBX.com
3533  Bitcoin / Bitcoin Discussion / Re: Reach out for the white spots! on: October 21, 2012, 07:24:45 AM
Bitcoin project on GitHub has been mirrored:

Step 1: Done. Hourly pulls of website git (https://github.com/bitcoin/bitcoin.github.com.git) from github. See http://btcmirror.is/
3534  Other / Beginners & Help / Re: Mining explained in a simple way for my friend on: October 21, 2012, 07:17:21 AM
what happens when computers become so powerful and the community so large that less than 10 minutes is required to calculate a hash value less than 2?]

Then a client that requries a hard fork, I suppose, is implemented with a new algorithm that can accommodate that level of difficulty.   Ask again in year 2050 when maybe that might be something to consider putting on the roadmap for the next 25 years that follow.


Also what happens if the government waits till after one of those two week difficulty readjustment phases and then starts mining with massive server farms.

Currently that server farm would require about 30,000 AMD HD 5970s.

If they were to hold half the mining power and were to drop it entirely, that means that blocks would take 20 minutes each instead of 10 minutes.  Or confirmation would take 2 hours instead of about 1 hour.   And this would persist for about a a month before it would automatically adjust, right back to 10 minutes.

Bitcoin might survive this but what if they increased 10 fold,

If an actor or cartel has the hashing capacity to increase difficulty 10-fold, and that party is set on doing harm, then we have bigger problems then worrying about how long confirmations take.

That an attacker has immense amounts of computing power becomes a risk is something that has been recognized since day 1.  See Satoshi's orignal paper, or the several hundred forum threads where this has been discussed.
3535  Other / Beginners & Help / Re: Bitcoin OTC Help on: October 21, 2012, 05:57:37 AM

So I have to do this before anything correct? This is the 1st step?
[/quote]

Yup, OTC (and a growing number of other bitcoin-related trading methods) requires GPG.

If you have Windows, GnuPG or GPG4Win. I don't use Windows so I can't make a recommendation.

If you get stuck, you can ask for help on IRC:
 - http://webchat.freenode.net/?channels=#bitcoin-otc-foyer
3536  Bitcoin / Development & Technical Discussion / Re: Ultraprune merged in mainline on: October 21, 2012, 04:58:12 AM
  • Instead of a Berklely DB blkindex.dat, we have a LevelDB directory blktree/. This only contains a block index, no transaction index.

So is BDB still used at all? (e.g, for peers.dat and wallet.dat? )  Or will that likely be changing with the upcoming release that includes ultraprune?
3537  Economy / Goods / Re: GoDaddy Domain, Match.com, VistaPrint, Flower.com, and more. for btc. on: October 21, 2012, 04:50:12 AM
Go to GoDaddy.com and pick out your domain which should come out to be around $8-15.

Tell me what you decide upon, then I'll purchase the domain and sell to you.

So how does that work?  Are you doing account-to-account transfer for the domain?
3538  Other / Beginners & Help / Re: Mining explained in a simple way for my friend on: October 21, 2012, 01:46:36 AM
I once tried explaining mining in a way a seasoned citizen might understand it ... using bingo cards!

 - http://bitcoin.stackexchange.com/a/3978/153
3539  Bitcoin / Development & Technical Discussion / Re: If bitcoins go to $100 or even $1000 in value each, Could there be a Safeguard? on: October 21, 2012, 01:38:30 AM
Anyway if bitcoin's price shot WAY up, is there a crazy way that someone could protect themself incase something like this happens?

Is there a way to protect from the exchange rate shooting up?

It is extremely likely to jump more than twice its value over just a few days nonetheless jumping an order of magnitude or two.

So if you end up with more bitcoins at a value greater than you feel comfortable holding, you then read up on secure wallet storage.  This likely involves using a LiveOS and disconnected from the network printing some paper wallets and then sending funds to those wallets.  Then securing those paper wallets or bringing them somewhere where they are secure.

Coming "real soon" are easier methods of doing M of N, so there would be two people (or two of three even) that would need to agree on the transfer or it technically cannot occur.  And thus you can hand over everything you have but your funds are still secure.
3540  Economy / Goods / Re: GoDaddy Domain, Match.com, VistaPrint, Flower.com, and more. for btc. on: October 21, 2012, 12:54:16 AM
They have a list of offers, if your interested in any of them I'll pay for the offer using cash and you send me btc.

The title is misleading.  It reads as if you are selling ownership of domains, which you clearly aren't.
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