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It was an interesting discussion. The Icelandic situation illustrates the dysfunction of the financial system. I agree with Gavin that direct democracy won't scale, but like everything else, there will be a technological solution. We just haven't developed him yet.
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You might even try a pawn shop to sell them for people that want to send money overseas.
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I misunderstood the OP. The term "gift card" threw me off. I thought you were going to provide bulk VISA/MC non-reloadable cards. Since BitInstant seems to have gone silent about their debit card, it would be great to see another form of liquidity. I suppose a Casascius style card would be great in certain markets, maybe in haute couture.
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Great idea. There was a discussion about this here. |
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How secure is this type of brainwallet?
1. Memorize a short phrase like a song lyric or quotation.
2. Make an algorithm that converts the letters to numbers.
3. Use those numbers to find words in a book making sure of the exact edition.
4. Use those words as the actual brainwallet passphrase.
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This seems to be an issue with anarchists, not statists. Regulation can be voluntary by using registered addresses. Taint can be removed by using registered taint-removal algorithms. You can choose to keep separate wallets for online use, but not in the brick and mortar world. It's the opposite case with fiat cash. With fiat, you can keep separate books with cash and your online transactions are tracked.
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Bitcoin as a protocol, is a tool that functions on computers. Bitcoin rewards are the unit of measure for the tool. They become commodities when they are exchanged for other units of value. The tool itself is as useful as the person finds it just like any other tool, like a paintbrush or a language. Some understand it well and some don't, but we all need to use them from time to time.
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Unless btc is really going 'to the moon,' it's pretty much guaranteed that there will be another 50% correction given an unlimited time horizon. Hence, it's NEVER over for a true bear - I do have to admit to feeling rather frustrated my entry price seems an awfully long way away at this point tho.
50% of what? Half the most recent gain? Half the recent rate of growth? Half the overall value? Even the corrections themselves can be subject to halving with diminishing returns on speculation. |
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I've used BitInstant many times without problems. I did make a mistake with a setting once, they caught it and created a mtgox voucher for me with details in an email. The service is not the cheapest, but it is very convenient and has very accessible hours at places like walmart. You are right about the instructions being difficult. Don't try to help moneygram people. Just fill out the form with the account numbers and the zipzap screen will just show up on their computer along with their surprised faces. Whatever you do, don't try to tell them about investing in Bitcoin if you are wearing blue jeans and birkenstocks.
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With Bitcoin going up so high and such low trading volume, it looks like someone is buying. Is there a whale quietly buying Bitcoin?
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It's hard to say. Trading volume isn't very high yet. It appears Bitcoins are not selling fast. Is there still dark pool trading?
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Good minimal scrypt parameters ( as of today )
are : 1048576, 11, 11.
This trinity will give you good safety margin
for couple of years ) This is why password strengthening algorithms are not sufficient for a brain wallet. They are designed to be "good enough" for a few years because they assume you can make the user change his password in the future when it's time to increase the number of rounds. Brain wallets must potentially remain uncrackable for the rest of the user's life. There is no substitute for passphrases of sufficient entropy. Telling users, especially unsophisticated users, that their funds are safe with anything less is negligent. Sufficient entropy might not be 256 bits, maybe 168 would be enough, but whatever that number is there is no safe alternative to using it that's going to hold up over time. Agreed. Unsophisticated users should not use brain wallets at all. I do think that password strengthening algorithms are sufficient if they are used with multiple passes and are sophisticated. |
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It does indeed. It takes the power to manipulate wealth away from plutocrats and gives them to the working class. It evens the playing field. Everyone has equality in a Bitcoin system; there are no classes, no rich and no poor, just Bitcoin users. Really, we don't need HOURS if we have Bitcoin because it works just as well.
Which is utter bollocks. All you have to do is point out that some bitcoiner have more bitcoin than others. At least they earned it the hard way... by working and saving. Bitcoiners don't just get them through negative interest loans. Nobody should deny someone their wealth that earned it on a level playing field and this really hasn't been possible before Bitcoin. |
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Agreed. Namecoin hasn't seen its day yet, but it will come.
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It just seems there is so much potential for creating darknet markets with resistance to fascist zealots more freedom of speech.
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Islam denies natural evolution without divine guidance.
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Will there be any other magnificent gems?
P.S. I am surprised someone has not started a chain letter on bitcointalk. Perhaps it is against ToS.
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Share your pills, please...
Oh... , ThAnK yOu VeRy-VeRy MUCH !!!
If that's how you cope, then thank you for your input. This poll was really all about the 100 wasn't it?
Not really, but for some that is all that matters. I considered more zeroes, but it would be too obvious about my bias. |
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It would be fun to see an historical chart with Bitcoin vs real things rather than just other money.
A while ago somebody posted a thread with graphs of BTC vs XAU prices. I suppose there is some metric they use for inflation, a sort of basket of commodities that you could chart? I was on medication when I wrote that. It seemed like a much better idea then.  |
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