3,430 words and not one was "audit" or "verify" (well, verified was there, but verifying the investor not verifying the investment).

Just listened to a couple mp3s.  That's pretty wild!

But the dollar's value relative to gold, silver, crude even does not show the dollar losing value. (though I agree, that may be coming).  

 - http://finviz.com/futures_charts.ashx?t=CURRENCIES&p=w1
 - http://finviz.com/futures_charts.ashx?t=ENERGY&p=w1
 - http://finviz.com/futures_charts.ashx?t=METALS&p=w1

So if bitcoin is rising against the dollar, as well against other currencies, and against metals, and against even the commodities that have risen quite a bit (soybeans, wheat, etc.) that indicates more is going on than an inflating supply of dollars.

There's no doubt to me that if this trend continues (daily transactions ... excluding common miner-related addresses and SatoshiDICE) that another doubling or more of the BTC/USD exchange rate is likely.
 - http://blockchain.info/charts/n-transactions-excluding-popular?timespan=all&daysAverageString=7

Add Ben's resumption of QE (QE3 or whatever they call it) at Jackson Hole, and I'll be even more convinced.

There's someone in Newbie quarantine yet with Dwollas looking to trade (due to being in the Dwolla 30-day probationary period prohibiting those Dwollas from making their way to an exchange):

 -  http://bitcointalk.org/index.php?topic=104159.0

That's why Bitcoin is so revolutionary.  Bitcoin is this thing you are seeking -- the thing that is like cash (final, non-reversible transaction) that can be sent electronically.

Cash is the next closest thing, but you cannot send it electronically so that is why you would need to visit a bank or other intermediary to convert that cash into electronic form for the purchase of bitcoins.

If there are lenders who will grant a credit for use with a credit card then there will be lenders who will grant bitcoins on a promise as well.  There just haven't been too many of them so far, but that's probably going to be growing as a method that serves more and more.

Also, don't discount local trading.  If your friend has bitcoins and is willing to let you swipe your credit card through her Square dongle on her iPhone for payment, then your problem is solved, right?

Ok, I see now.

Bitcoin wasn't built for the purpose of money laundering.  It has properties that put it at a disadvantage for use in money laundering (e.g., all transactions in the blockchain are traceable by the public).

But if someone were to use the properties of bitcoin to their advantage, that too is likely possible.  Let's say a party's books show artwork that was sold for $10K of cash.  However the value of the artwork was really only $2K and the buyer received bitcoins from the seller, as part of the deal, worth $8K.   It would be hard for any external party to know the actual value of the artwork, and the $10K transaction might then be left unchallenged -- especially as the bitcoins could have been sent anonymously.    

But just like with cash transactions, there are two or more parties involved, and there are clues that will reveal intentions -- especially when larger amounts are involved.  Bitcoin probably doesn't change things much.  The fact that no bitcoins stolen during the hackings or wallet thefts so far is likely due to no concentrated efforts occurring to actually catch the perpetrators.

Well, until the thirty days is up when you can use your Dwolla, there's always BitInstant, or BitFloor which accept cash deposits at banks, 7-11, etc.,


You can even send the Dwolla funds back to your bank if you needed.  The clock keeps ticking down the 30 days either way.

SatoshiDICE doesn't know the blockchain transaction ID in advance so SatoshiDICE cannot influence the results of my wager.

So it is provable mathematically that the house cannot cheat the player.

You are describing the situation where if I know the secret before I place the wager, I can cheat the house.  Now that the house has investors, you are suggesting that this list of secrets makes it is possible for a party [edit: a party who has access to the secrets] to cheat the house, lowering its profits, which in turn, lowers the dividends for investors.

Over enough trials, the chances of that occurring without notice are lowered.  There isn't "proof" available to say that this isn't happening but it can be detected pretty easily if it is.

2012-08-28 huffingtonpost.com - Chomping At The Bitcoin - The Ups And Downs Of C

https://bitcointalk.org/index.php?topic=103929.0


8-27-12 Bitcoin Savings Trust Pyramid Scheme Shuts Down [TheVerge.com]

https://bitcointalk.org/index.php?topic=103859.0

An ecommerce site might want to run a bitcoind instance to provide access to the API for receiving transactions but no spending is possible.  This dramatically decreases the risk should a security breach occur, as there is much less an attacker can do.

So by allowing addresses with no private key lets the bitcoind do everything except spend.

As a new Dwolla user, they have instituted a 30-day probationary period before you can send those funds to a "high risk" account such as those identified as doing bitcoin exchanges.   There are individuals with whom you can trade -- either they are trading bitcoins or MtGox redeemable codes, etc.  You can find a willing counterparty here:

 - http://bitcointalk.org/index.php?topic=78512.0

Just make sure to know that you are trading over the counter and that has risks that the other person might not deliver, etc.  There #bitcoin-otc Web of Trust (WoT) will help you lessen your risk.

 - http://bitcoin-otc.com/viewratings.php
 - http://wiki.bitcoin-otc.com/wiki/Using_bitcoin-otc#Risk_of_fraud

Once you are past your 30-day probation, then you can deposit at any merchant where Dwolla is accepted, including Camp BX, Mt. Gox and Intersango.

The word cancel is pretty clear:


 - http://www.merriam-webster.com/dictionary/cancel

The problem, I suppose, is that once issued the code becomes a negotiable bearer instrument.  And the issuer (Mt. Gox) has no way to tell that it code wasn't used in trade (e.g., for use as escrow) where perhaps following the trade you redeem it yourself.

So I can see why they might have this policy.  But I can't see why they would label the action "cancel" when clearly it is not cancelling anything.  Instead they are providing a method making it easy for you to redeem one of the codes you had created and nobody else had redeemed.   It is like if I borrow money from you -- me repaying early would not mean that I had canceled the loan.

Well, you can write a script, but the client has no mechanism to remove them or to reinitialize.

They can't just be deleted willy nilly though.  They include data necessary to recover the database if it didn't happen to get shut down properly.

So at a minimum, make sure you have exited cleanly the app and make a backup of the wallet.dat before purging the .log files.

There are individuals who will perform escrow.  They hang out in #bitcoin-escrow.  The #bitcoin-otc Web of Trust (WoT) history will help you lessen your risk.

BTCrow and ThruCoin are two that have been around for a while, though I've no first-hand experience with either:

 - http://en.bitcoin.it/wiki/Category:Escrow_services

I've re-read it and still don't think I do.  Can you point me in the right direction?

Hm ... another one that didn't get send out, and it wasn't an @reply -- but did have two @names in the tweet:

 - https://twitter.com/bitcoinmoney/status/240252850570133504

Bullshit.  If someone is making what I perceive as to be a threat of harm, I do have a voice in the matter.  This is a community and if someone in this community is threatening physical harm to another, I have the right to, ... no, I have the obligation to speak out against that.

We are better than that.

Heh, wasn't trying to be.  Though ACH networks are a joke as far as the risk you take due to reversals and fraud, so I can understand why hardly any exchanges accept them (even BitFloor stopped accepting PopMoney not too long ago).

But Dwolla is not much better and there are a few exchanges that take Dwolla yet.

Nope, .. but I see Bitcoin as having an impact on P2P and bricks and mortar payments even.  And you see it.  And Marc sees it (he's been writing on bitcoin since the 2011 price peak). 

But what causes actual bricks and mortar to become interested?

(Incidentally, BitPay says they are just under 1,000 merchants using their payment network ...  so there are more and more obviously getting onboard, it just doesn't happen organically (interest coming from the merchants themselves, but instead expands only when an intermediary is involved).

GPUMax was moved to Services, so maybe there were more threads moved around:

 - http://bitcointalk.org/index.php?board=52.0