not sure if anyone asked, are these waterproof?
judging from what i've seen i would guess yes, the final product can be waterproof - maybe not for deep-diving but it would survive a shower. the development prototypes have some holes, though so i would not try it with them. |
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Seriously, am I the only one willing to send a few emails to these companies to rouse their interest? What are internet forums for if not to organize harassment on people and companies?
Personally, I think Bitcoin has to have more market share and a much bigger market capitalisation before it makes sense to setup an ETF. Currently, it would not help the Bitcoin project much except maybe a price spike and more speculators which bring higher volatility. |
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sipa has been working on his "ultraprune" branch at github. It is discussed on IRC.
the prunig efforts are nice and will lead to much faster desktop clients and full nodes, but they do not really solve the problem of very light nodes trying to obtain their bitcoin balance and transaction history from the network quickly. |
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I'm still curious how, in your scenario, Pirate could pay back his lenders without driving the price up and defeating his purpose. No sarcasm here, I'm really wondering.
- Buying on the exchanges, when the price dips. That would explain some of the recent unusual stability.
- Also, buying on the OTC market to save on fees.
- Maybe he is also contacting Bit-Pay directly, they have the need to aquire USD from BTC and are interested in a stable Bitcoin Price. They were able to sell their BFL orders suspicously fast without the price taking a hit.
- he uses excess Bitcoins to manipulate markets downwards through askwalls in "safe" regions like 4-sigma above current price levels. they seem to work psychologically.
so these are all tasks an everyday millionaire would not like to micro-manage. he hires staff for that. |
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i think right now we need an experimental implementation to see how this approach would perform in practice.
IMO, the ideas outlined by etotheipi are the right way to go for a tiered bitcoin network, and for better scalability.
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accorting to the video its more a business directory to better utilize otherwise unused resources. and gives everyone an additional line of credit. the idea to limit tem holdings to 12000 is actually not so bad. this can only work if the people running the network know their users personally. how do you create money from nothing? A: because we believe the creation of value, which means currency in your quesiton is the right of any individual and the right of the community. since TEM credit is very cheap to aquire (zero intrest rates), i expect a TEM inflation and the 1:1 peg to dislocate quickly i doubt many people will be willing to give 1 euro in exchange for 1 tem. of course there will be a flight to real values such as marmelade or olive oil  maybe they will even have TEM hyperinflation. so in essence. this town did already exit the euro, devalued their local currency and is therefore stimulating their local economy. its is just a precursor to what will happen in the rest of greece when they introduce the drachma again. |
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yes, of course i know about occams razor. my speculation assumes the statements pirate made were actually true.
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So here is my guess:
Pirate was approached by "big players" that they want to invest USD in Bitcoin, but without moving the market.
They are committed to buy whatever amount he offers them, as long as the price stays low.
Pirate needs Bitcoins for two reasons:
1 - he sells them for a defined rate to the big players most likely at a high premium
2 - he uses bitcoins at strategic moments when the rate goes too high to create askwalls to push the price down gently. hopefully for him he does not actually sell them.
then he uses his USD to cover his expenses to pay the interest
their hope may be to aquire a significant amount of bitcoins without overpaying. and doing it that way it may actually work.
So my guess is, as long as the bitcoin rate stays relatively low his lending scheme will go on. once the price reaches his pain point (maybe 10 USD/BTC) he will start to unwind the loans and maybe even repay the lenders (or keep all the precious bitcoins himself). in my theory it could very well end with a drastic bitcoin rate increase which could spark another mania.
is this a possibility? is there any evidence which falsifies this theory?
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or *gasp* running your own mailserver.
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i have looked briefly into what is required to run a bitcoin etf. this would need a significant amount of funding since you need at least 2 companies , management and public traded etf. since the actual operation of the etf could be very very cheap(automated) unlike SLV, SPY etc.. this could operate with minimum fees.
if someone figures out how to start it up this will certainly boost the bitcoin price.
i can imagine even some conservative technology funds will allocate small % to bitcoin if they are easily accessible via ETF. compared to the current market capitalisation this could be huge.
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[01:27] yellowhat theymos: are you sure its not a self-dos due to new addons (maybe badly written) addons?
[01:29] yellowhat is the source available? I could review the sql maybe
[01:30] yellowhat maybe its doing something dumb as querying without index or anything
/pats myself on back for remote debugging ninja-senses  |
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"Give me control of a nation's block reward and I care not who makes it's laws" — |
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what is BCN ? Bank Central Nicuragua?
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I also wonder the same thing. Why is their server involvement necessary for the backup process? Can anybody tell? If the server holds the btc private keys, that's awful. But that would go against what's said in the same post: An overarching design principle of the devices is to eliminate the requirement of trust in any single party, even in the manufacturer. Details of how this is accomplished are not fully fleshed out yet, but include ideas like having the devices only create their key pair after they are in the consumer’s hands (so not even the manufacturer would know it). So, why is the server necessary? It isn't. I don't know where the information with the servers came from, but afaik, its not true. The details of the way the bitcoincard will be handling private keys is not finalized but storing them on central servers was never an option. |
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My guess is that someone found a vulnerability
how likely is it someone could brute-force the daily secret hashed and published in advance? |
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