I guess one solution would be to only store the flash drives in local bank's safety deposit box at which you had account information, and to leave the data unencrypted on the drive. Not too sure I even trust my bankers from not entering my safety deposit box however. That seems like too wide of a hole to leave open.
two cheap (128 meg) usb drives, or even multiples for redundency. Wallet.dat file, equal amount of random bits. XOR the two together. Keep the original set of random data on one drive and the random-like output on the other. Destroy the wallet.dat file. Keep the two drives in physically secure locations, but in different ones. For example, one could be in a safety deposit box, the other in your file at your attorney's office. Or another safety deposit box at another bank. Gun safe at the house. Your dropbox account? You could have multiple copies of each, as long as they were never kept together. A thief could then steal one, and you would still have at least one copy of each to be able to recreate the wallet.dat file, and the thief would just have a thumbdrive with useless data. Mark each of the thumbdrives so that it's obvious what they are and which they are. Perhaps a sticker on each that says "codex" and "key". Both are necessary for recreating the wallet.dat file, forever; but it doesn't require that you remember a complex keyphrase, nor is it a very complicated process that can't be simply explained in your will. |
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Who knows if ASIC mining chips will come (unless they're here and I'm uninformed). The thing about graphics cards is they're multipurpose and wont be useless in their post mining life.
They're here and you're not informed. They just aren't yet widely available. |
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I'm talking as major as it was to switch from CPU to GPU. Will there realistically be any such advance before we mine out all the BTC?
The rise of ASIC mining chips is going to be a pretty big jump, but after that there is no major advances foreable. |
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Ah, good ol' Claire, I gotta dust off that "things to do" book. Thanks for the affirmation, but is it time yet?  It's damn close. |
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It's already been done. City is owned by a company, Alphaville Urbanismo, and you pay them for all the utilities and services and so forth. You don't get to opt out of certain ones though IIRC, you just pay or don't live there. I heard about it on bitcoin-otc. One of the BTC day traders on otc either lives near by or used to work for the company or something like that. Yeah, that's not what is being discussed here. There is a name for what you guys are looking for. It's a phyle. |
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Not only would that work, it's a fair description of what I have already done with the majority of my bitcoins.
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I'll just leave this here... "The Mole lives an exemplary life, obeying all possible laws, filing taxes, crossing the street only in crosswalks, holding a respectable job (maybe even a government job) … but on the side and in silence gives help to freedom causes and freedomistas. Or saves herself up for the day when a single act of sabotage or whistleblowing can bring down an enemy of liberty. " http://www.backwoodshome.com/blogs/ClaireWolfe/2010/06/07/so-what-exactly-is-a-freedom-outlaw/ |
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Fractional reserve banking is fraud. If you were to engage in it in any other commodity you could be sent to jail. It's one thing if a bank is open about it and people know the risks of depositing their money there, but as of right now it's done in secret. Everyone that has money in a demand deposit account thinks that the bank actually has that money with their name on it sitting in a vault somewhere, when they don't.
Fraud isn't part of the free market.
It isn't a fraud.... The bank finds an idiot to lend them 70 times their capital (in our crazy world thats the government because who else would be that stupid), the bank then invests that money and gains much better return on equity. Or as it happens every 10 years or so, the bank loses on that investment and goes down under. Except that they don't go under. Therein lies the fraud. It's called, "moral hazard" because they know in advance that the government will save their asses if they get into trouble at the taxpayers' expense, and thus it is an immoral business to engage in. |
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What I thought of is an actual bitcoin wallet device. It would run a minimalistic version of the bitcoin client in firmware (naturally encrypted and password protected). All inputs would be via touch screen via the use of one of those secure keyboard apps. This device could be connected to the internet but only via a physical connection. And further it could only connect to the bitcoin network and have no other tcp/ip capabilities. The device should also be physically hardened. Also a "wallet backup" feature should be available and a simple usb port should be there as well.
Or just buy a used Android phone off of Ebay, and install your custom client with the cell radios turned off. whenever you needed to update the blockchain or otherwise access the p2p network, then turn on the wifi radio and connect temporarily. The truly paranoid could open up the phone and de-solder the radios other than the wifi. Or the really paranoid could de-solder them all and only use a usb cable to connect to the p2p network. |
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By the way, what would have the outcome been during the civil war, if Lincoln didn't inflate the currency with the Greenbacks?
Probably much the same. Like most major wars, the Civil War was a conflict decided by economics, not tactics. Inflation is, economicly speaking, just another tax as far as funding wars go. It's just that it's a particularly regressive form of taxation. The North won because they had the industrial base to support a war of attrition and enough unemployed young men to throw at it, not because they had a morally superior mission. |
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And because you can't fathom it, it must not be so, eh? I don't have a vested interest. I don't have many coins. What I have, I bought. I've never mined. And 80%+ of what I have bought has been spent or donated away. The reason that I am an advocate of bitcoin, and I am, is because of the massive potential it has in creating a better world. Perhaps then you will be a bit more open to a reasonable debate when you can see for yourself that there is another way. Until then, we'll have to wait. I'll consider what you can offer. No, I'm accusing you of hypocrisy. And of being a professional troll. I've reviewed your entire posting history, and there isn't even plausible deniability. couldn't even be bothered to start with some noob question, I see. Went straight into trolling from the first post. The only reason that you can still talk is because I don't believe in censorship. You have a right to be an ass. That said, I've started the process for mod accountability, and have enlisted other mods to review your history as well. If they agree with my assessment, well, we shall see what happens next. So because I decided to spend a lot of time reading about how BitCoin works before posting, I must be a professional troll? I found out about BC on another forum and was instantly enamored by it. Once I dug deeper, the flaws started slapping me in the face. And these were certainly not cryptographical flaws as I have little understanding of cryptography. They are basic, underlying flaws that debase BitCoin as a reliable currency. I couldn't help but post about it. Perhaps they are only my opinion, but that does not mean my posts have no merit. The vocal minority needs its place. Pretty sad though that you can't handle a strongly dissenting voice and feel the need to have me "reviewed" even though I haven't broken any rules. You have broken the rules. The accepted rules of common Internet civility. You have hijacked every thread I've seen you on with your "opinions". If the "vocal minority" needs it's place, it can go found it's own. These other forum members came here to learn about Bitcoin and how to use it. They don't want to have to wade through your stinking pile of "opinions" in order to gleen out a respectable understanding. You come into our house and then shit on our kitchen table and declare, "the minority needs a place to crap". The place to spew FUD is elsewhere. The Internet is vast, go start another "Bitcoins are a scam" blog. If someone comes in here looking for the counterpoint, I'll be more than happy to hotlink straight to your little shit filled corner of the web. I've had enough of this. Go find another street corner, Padre. EDIT: I've deleted all your trollish comments, except those last few in this thread. I left your non-trollish posts alone. Both of them. From here on out, I will delete every remotely trollish thing that you say, but I'm not going to ban you or censor you in advance. I want you to be able to make an even bigger ass out of yourself going forward, just not long term. |
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Some moron just admitted to stealing half a million bucks on Twitter?! Time to call your local FBI office.
agreed. theft of $500,000 in assets is a huge deal. you wouldn't get that from holding up a moderately sized bank. this has gotten a fair amount of attention and someone is going to jail for it for a long time. doesn't even matter if its the right person. nothing scares the people in power more then the concept of their money being stolen. I'm going to get in touch with the RCMP who I hope will co-ordinate with FBI, InterPol and all the other international police agencies that can get involved. You can expect to pay capital gains taxes on that sum, if it is recovered. If not, then claim it as a loss on your taxes! |
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none of that helps against a compromised machine. Actually, it does. You may fool an attacker into thinking that he hacked all the layers, while he only hacked top 2 of them. Maybe we are misunderstanding eachother, but what do you think gets captured by a keylogger running on the *host* where you open a VM in a VM in a VM via a VNC session and you type in a TrueCrypt password, anywhere? Bonus points for guessing the same for what happens if you press PrtScr. A VM truecrypt that uses an on-screen keyboard that is randomly scrambled with each startup. User clicks in his passcode. Keylogger fails, mouse recording fails, screen capture does not fail. Speech to text? Soundcard sniffer? |
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Also, why do you think the bankers had to confiscate all of the gold in the 30's? Too much gold was in the hands of the average joe and they had to consolidate it. They didn't need to confiscate the gold for all of the new deal programs, they could have just abolished the gold standard then and printed the money to pay for those programs (which were a sham). Once the foreigners figured out the scam in the 70's they finally ended the convertability. 'Temporarily' of course.  Where do you come up with this stuff!? It's comic gold!
I'll stand corrected then and fall back to the colonial script example that the British had to outlaw.
The US Constitution outlaws it as well. The British outlawed it in the colonies because the colonial bankers were cutting into their game. Now it's outlawed in the states so that state banks cannot cut into the federal game. It's still a game, as in the "don't bet against the house or you will lose, but don't refuse to bet either or you'll die" sense. Don't think bitcoin will be an exception to this rule, this has been going on for thousands of years.
Perhaps not. There is that risk. But the potential upside far outweighs the risks, IMHO. One thing that is certain, do nothing and we will continue to get what we have been getting. Its funny how governments always use inflation to pay for wars and yet some keep defending it. It will be use for good, it will be used for good. They are sold a dream and loose the habitility of thinking critically.
You can't fund a war on 3% inflation. First, you can actually. And second, you really believe that 3% is what you have actually been getting? |
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You know what guys, if we expect the average joe to have to learn to become a security expert just to use bitcoin, then bitcoin is pretty much doomed.
Nonsense. It just means that those who are good at security will become the new guardians of the realm. Bitcoin was never really meant to be used at the protocol level by Joe Six Pack. There will be geeks who write secure wallet systems for android and such that let Joe use bitcoins in daily life as an abstract means to pay with his mobile phone or over the Internet securely. We don't really want one single client with one security model, because if it has flaws they all willl. We want a bunch of clients, each doing security in a different way. The bazzar, not the cathedral. |
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From now on I'm going to store them on a dedicated bitcoin wallet machine with linux on it It's a good first step, but it's still putting all your eggs in the same basket. You need to diversify. Even if you want to keep bitcoins as an investment or to promote the system, you need to invest at least one out of each two bitcoins mined into a different portfolio. Be it gold, real estate, remunerated savings account, stocks, venture capitalism, more mining rigs, take your pick. And don't forget to give 10% to charities!  Or you could just put a majority of your coins onto couple of cheap thumbdrives, encrypt them, and put one in a safety deposit box and another in a bubble wrap envelope with your last will and testament. |
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Those people were not forced to work those jobs. They did because it provided far better opportunity than they had. Every developing country goes through that stage. It's inevitable and natural.
You're right, they weren't forced to work those jobs. The alternative was their family starving to death. So, yea, no one held a gun to their head or anything. And, no, every developing country does not go through that "stage." That "stage" is a constant in a capitalist system because you need a large number of people doing near-slave labor in order to allow a ladder of profit to the top with reaonable priced good - the need for work at each level is pyramid shaped, while the wealth distribution is an upside-down pyramid shape. Countries only go through that "stage" if they eventually come to the place that they can outsource it (as the first-world has done). However, when there isn't anyone else to outsource it to, you're stuck with it. As such, the third-world will never that "stage." There is no ground for any of that garbage. Most people who work in sweatshops do it for a short period of their lives and go on to a more skilled job or start their own business. Cite a source. You can't pull stuff like that out of your ass. I guess that's why Vietnam is a varitable entrepreneur's utopia of small businesses run by three year old kids who formly made my Nikes. Vietnam doesn't make Nikes. They don't make anything, really. |
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Can you point one example in history when money printing was not abused? Tally sticks. LOL! Even that was abused! The king declared tally sticks ursury and had them outlawed after forcing all of the goldsmiths in London to accept them in trade for gold so that he could pay for his war with France. And since they were now illegal, no one could come to the treasury and claim their gold deposits. They were then burned so that there wouldn't ever be any chance that the goldsmiths might come back in the future and be able to make a credible claim. This is actually were we get the phrase, "he got the short end of the stick" because the tally sticks were created by taking a common stick, etching on both ends, breaking it in half, and then the treasury kept the long end while the (mostly unwilling) goldsmith was left with the short end as a receipt. |
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No, we are not. My point was, if Bitcoin is a scam and early adopters are those who got into it in the past two years before you did, what then is the US FRN when the early adopters got into it before you were born? Injustice! We need to gather the troops and have a flash mob protest! Were you not alive for the past two years? Did you not have Internet access? Not know how to use Google? So a few hundred people make a mint because they new about something before you did are scammers, even though you had as much chance as anyone to do the same; while the legacy currency system that you were born into is the metric by which you judge fairness? Are you for real?
So because the US FRN did it, it's ok that BitCoin does it. Yet BitCoin is somehow far superior and above reproach. I suppose only because you have a vested interest, because I can't fathom any other reason why you would so defend BitCoin in one sentence, And because you can't fathom it, it must not be so, eh? I don't have a vested interest. I don't have many coins. What I have, I bought. I've never mined. And 80%+ of what I have bought has been spent or donated away. The reason that I am an advocate of bitcoin, and I am, is because of the massive potential it has in creating a better world. If the act of doing so begets a few hundred new wealthy people with more foresight than I, who am I to complain? Who are you to complain? If Bitcoin fails, then they are out much, but you are out nothing. And I am out very little. But if it succeeds, then even those who have not yet even heard of Bitcoin, or even ever used the Internet at all, shall benefit. Some more than others, certainly; but so what?
yet accuse me of having an issue with fairness when the issue exists with both. From one form of control to another, you just happen to have more power in this version so it is more appealing to you. This isn't forum.usfrn.org, it's forum.bitcoin.org, btw.
No, I'm accusing you of hypocrisy. And of being a professional troll. I've reviewed your entire posting history, and there isn't even plausible deniability. couldn't even be bothered to start with some noob question, I see. Went straight into trolling from the first post. The only reason that you can still talk is because I don't believe in censorship. You have a right to be an ass. That said, I've started the process for mod accountability, and have enlisted other mods to review your history as well. If they agree with my assessment, well, we shall see what happens next. Keeping myself apprised, of course. You know, so I can report to my bosses at the CIA.
If you worked for the CIA, you'd be quiet. |
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