It should be fairly simple to swim in bitcoin. Like everything digital it is just a series of 1s and 0s.

So what you do is feed the blockchain to a computer that controls a water pipe that empties into a swimming pool. The computer releases some water every time it encounters a 1 and air every time it sees a 0. Eventually you'd get a pool full of bubbling bitcoins!

How does that photo prove anything? It just shows their shopping cart page.

Reminds me of the cube in that Doctor Who episode:

http://www.imdb.com/title/tt2399633/

Why would China want to rock the boat? $3tn in forex reserves is not that big a deal. Growing an economy with a GDP of $7tn is.

A more reputable source:

http://economictimes.indiatimes.com/markets/commodities/Restriction-in-gold-imports-may-lead-to-increased-smuggling/articleshow/20452371.cms

Sell it on ebay. It is not for you.

Wow that's some feedback. I see he makes full use of it. His current buying price:

5,966.63 INR    =    104.962 USD

He's running an HYIP. 27% yearly interest on a deflationary currency is definitely HYIP territory. Maybe he runs a loan sharking operation?

This reminds me of something. Have any of you guys heard of the Beijing bikini? Look it up

I find it funny. The thread title is funny too.

Why doesn't he just put them in his pockets?

Ok guys please look beyond my comment about paranoia. Note I used a smiley which means it was just a joke.

I also made a useful suggestion about paper backups while you guys have yet to suggest anything. So let's get back to the topic at hand.

Wow you are truly paranoid

About the paper backup you can now do m of n backups in armory. That is total n backups of which you need m to restore the wallet. See this thread:

https://bitcointalk.org/index.php?topic=149820.0

Official definitions aside most of us ARE hoarding. We are misers like that character Silas Marner or that dude in LOTR:

Currently electrum allows you to set the display unit aka base unit to BTC or mBTC. I'd like to see the option to set Satoshi as the base unit.

All good points. This is the sort of thing we should present to the OP.


A few things:
   One I was comparing like to like. Getting encrypted wallets from some individual's computer vs. doing the same from blockchain.info.

   By broadcasting that it holds lots of wallets blockchain.info is inviting trouble. An individual does not do that or if he does his system is harder to track. I suppose this the old security via obscurity argument.

   If hackers compromise blockchain.info they won't just get the encrypted wallets. They can also put up a phishing site in its place and get people's passwords.


You can always backup to an external storage medium. You don't have to backup to the cloud.

Frankly I don't think you have gotten a good picture of anything from this thread. It's just full of opinions without any facts being presented. You need to do your own research into these various wallets.

With Armory/electrum/multibit/bitcoin-qt you encrypt your wallet file and store it on your own computer. If someone wants to steal your coins he would have to gain access to your computer, grab the encrypted wallet file and the password you used to encrypt it. This would require a malware infestation.

Another possibility is that someone got access to your backups and then stole the coins using that.

If someone wants to steal coins from a blockchain.info wallet he needs the encrypted wallet file and the password too. But the key difference is that with blockchain.info anyone who knows the wallet identifier can get a copy of the encrypted wallet file. Also blockchain.info's servers are always online and everyone knows that there's gold there so its akin to carrying a giant sign board that says "Hack Me And Get RICH!"

There is another possibility and that is that you loose your coins not because of some thief but because of hardware failure, accidental deletion of wallet file, natural disasters etc. So which of the wallets are safer in that case? Armory and electrum are deterministic meaning you can make paper backups that can restore all the coins (except imported private keys). Multibit and bitcoin-qt are not meaning you have to take regular backups.

Blockchain.info wallets are backed up on multiple servers. However all those servers belong to a third party company. You can also backup the wallet yourself.

Trading 50k a month doesn't mean he is making 50k a month. That is just the principal amount. Anyway the OP took the time to post here so he must have time to spare.

No that is not correct. No one is going to take responsibility for the authenticity of some random person's random documents:

http://en.wikipedia.org/wiki/Apostille_Convention

Apostile or notary they are all the same. Just stamps that someone puts on your dox for a few dollars or less.

You know if I ever discovered the key to an address with coins in it the last thing I would do is announce it to the world. Why alert the owner of that address? If I needed technical advice I would ask for it without revealing the bitcoin address in question.

wallet.dat is only used by bitcoin-qt. Other clients like armory or electrum have their own different wallet formats.