I have sold all my gold and silver, bought bitcoins, tripled my money already.

I am close to sixty now, but I can see the writing on the wall. PM is dead, especially silver & gold. If you want to hedge with PM, I would choose something with heavy industrial use.

If I understand this right by 2033, the miner reward will drop to 0.78125 btc. If Bitcoin is as big of a success as the core believers expect, this may be in the neighborhood of a million dollars. I could imagine a lot of small timers taking a loss on mining just hoping to hit the jackpot. Even if Amazon holds transactions till they win a block reward, I think there will still be enough competition. Besides, if the world is headed towards decentralization, Amazon might be lucky to have 5% of the world ecommerce business.

It is just a matter of education. Knowledge will spread. People will learn. Just be patient.

Buy your Bitcoin wallet for only $9.95 and get a million satoshis for free!

Shouldn't this thread have been started in off-topics? Or is it just me that fails to see the connection to Bitcoin?

Yea, I should probably change my signature too!

Many decades ago, Krugerands became tainted. They sold at below the gold spot price. Then one day, everyone woke up and realized that they were still made of gold. Now they are worth their weight in gold again. I suspect the same thing will happen with tainted coins. Hakuna matata, no worries here.

Reusing an address allows for a possible security breach in the ECDSA algorithm. Many random number generators are not truly random. If the same number is used twice while sending money from an address, then the private key can be calculated as per this paragraph from the wikipedia article on ECDSA:


The odds of using the same random number from a faulty RNG goes up as y=x!/2 (as long as x>1, otherwise y=0), where x is the number of transactions sent from the address. I feel safe reusing an address after swiping it once, even though it is only protected by the strength of irreversibility of the ECDSA algorithm. However, I will not reuse an address after pulling funds out of it a second time.

For people who trust their RNG algorithm, this may seem to be mute issue. But I am sure that people using the SecureRandom() call in Java on their Android phones felt pretty safe. As we all know, they weren't.

hmm, guessing $10 per mbtc in September 2015 according to the logarithmic regression chart line.

I trust blockchain.info

Bitcoin is regulated by the laws of mathematics.

I just received an email from Coinbase.

1) They have whitelisted me.

2) They are honoring our original contract of 9.25 btc for $1,945.07

At this point I am fully satisfied with their service and I will lock this thread.

I wish to thank Olaf for his personal care in this matter.

Pente

I want to thank Olaf for resolving my order of 9.25 Btc. for the original price.

I also want to thank you for whitelisting my account. This will also make it possible for me to start selling bitcoins on the Big Island of Hawaii to other people interested in bitcoin as I now have a quick and easy way to refill my wallet.

Thank you Coinbase.

PMd him last friday, no response yet.

Buy/Sell orders typically take 7 days to complete.

Warning though: If you buy, and the price goes up in that 7 days, there is a high probability that they will cancel your transaction.

Nothing at Coinbase would surprise me anymore.

Thought he was talking about mBTC....then I saw the date  

Just realized if it was mBTC, I was off by a factor of 10, lol.

To really become mainstream, I think we will need a portable hardware wallet that is basically foolproof and trustworthy. We have the technology, it is just a matter of a major manufacturer putting one together.

Once upon a time, when I was young, I use to be a programmer. My instincts say that this is a programming glitch at Bitstamp caused by the withdrawal, cancellation, then final withdrawal.

@danieldaniel, you are correct in saying that the original $1,945.07 is still in my bank account. Regardless, the money was still tied up for a week. I could not use it to make a purchase elsewhere. Coinbase was able to capitalize on that fact to make gains on the bitcoins that they purchased for me and held during that week.

I never said anything about deleting bank accounts and have never deleted a bank account with Coinbase. That being said, Coinbase has deleted my first account three times. Each time it was deleted after I attempted to make a buy. The fact that you know this (when I didn't mention it) makes me strongly suspect that  you work for Coinbase. Do you?

Testing Coinbase with small purchases (0.25 btc) makes perfect sense if you know that there are problems with making a purchase. There is no reason to tie up large amounts of money until the software glitches involving a bank transferring money to Coinbase are solved. This is not behavior that indicates fraud, it is the behavior of a person dealing with a dysfunctional system.


This is really the meat of the issue. There is a right way and a wrong way to manage fraud.

The wrong way is to put all the losses on the customer while Coinbase gets to capitalize on the gains. Breaking a contract 7 days after a purchase is made is dishonorable.

The right way would be to either: (a) hold the bitcoins bought till the danger of fraud has passed  (b) lower the amount of the possible transaction to the level of trust in the customer (c) transfer the funds to Coinbase, then allow the customer to make a purchase after the funds are secure.

Coinbase should honor my original contract of 9.25 btc for $1,945.07