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521  Alternate cryptocurrencies / Altcoin Discussion / Re: Thread about GPU-mining and Litecoin on: March 08, 2012, 07:33:08 AM
I don't think any changes are necessary. Very soon anybody will have a computer capable of GPU-mining Litecoin. Also, since eventually people will stop using GPUs to mine bitcoin, the swings in difficulty from people switching between the two chains won't be a problem.

Yes, don’t threat.  GPU's are at most 10x faster than cpu's for litecoin mining.  For Bitcoin it is at least 100x faster on a GPU.

This means that Litecoin is at least 10x more efficient on a CPU than Bitcoin.

Over time, this gap will narrow; as the in-built GPU's in inside every computer get better.
522  Bitcoin / Bitcoin Discussion / Re: Github Vulnerabilities and Bitcoin on: March 07, 2012, 03:52:18 AM
I'm not saying they could be hacked, I am saying that they ought to be used for verification. Basic PGP, check the keyservers, and the more the merrier.

Yep... That is why we cross-sign pgp keys once we have verifed the owner of them.  Smiley
523  Bitcoin / Development & Technical Discussion / Re: Avoiding theft using trusted computing on: March 07, 2012, 03:45:11 AM
You could have code on the TPM that checks that the said bitcoin block is next in the chain, form the last block hash that it keeps in secure memory.
Since blocks have a timestamp, this could be used as an 'ever increasing' date system.  Giving a general guarantee of the date.

A more advanced chip could make sure that the transactions it signs are from blocks that it has ‘seen.’

I think that in the future the block chain can be used as a secure time source.
524  Bitcoin / Development & Technical Discussion / Re: Avoiding theft using trusted computing on: March 06, 2012, 03:35:58 AM
Does the TPM have access to a guaranteed-to-be-unhackable time source? If it does, then a policy like "do not approve more than X bitcoins worth of transactions in timeperiod Y" should work well enough to prevent more than petty theft, assuming you've got some other way of watching the blockchain for unauthorized transactions and shutting down the compromised machine or using an emergency offline backup key to move the funds to a non-compromised wallet.

Um... yes. The bitcoin block-chain.
525  Economy / Speculation / John Williams' Shadow Government Statistics Hyperinflation Special Report 2012 on: March 04, 2012, 05:51:48 AM
Good reporting of US economy inflation has been updated for 2012... This is a free report.

http://www.shadowstats.com/article/no-414-hyperinflation-special-report-2012

Reading it now... Will post some comments once read.


Quote
Hyperinflation 2012 is the fifth in a series of related writings going back to 2006.  It updates and replaces the Hyperinflation Special Report (2011) of March 15, 2011, which preceded: the U.S. government’s demonstration of a lack of political will to address the country’s long-range insolvency; the downgrade of the “AAA” rating of U.S. Treasury securities; an ensuing U.S. dollar panic, dollar support operations and extremely unstable U.S. and global financial markets; a temporary shift in market focus to Euro-era issues; and growing recognition of the ongoing and deepening economic and systemic-solvency crises.  Nonetheless, the outlook has changed little.  With the passage of 10 months since the last report (updated circumstances have been covered regularly in weekly Commentaries), events just have continued to move this pending ultimate financial crisis into much closer time proximity.   
 
In turn, the 2011 report updated and replaced the Hyperinflation Special Report (2010 Update) of December 2, 2009, which preceded: the Fed’s formal monetization of U.S. Treasury debt aimed at debasing the U.S. dollar; the sharpest post-World War II annual decline in broad money growth; the pronouncement of an official end to the 2007 recession despite no meaningful recovery; passage of the Administration’s health insurance legislation; and the mid-term election.  Yet, the outlook had changed little.  With the passage of 15 months since the prior report (updated circumstances were covered regularly in weekly Commentaries), again, events just had moved the hyperinflation crisis into closer time proximity.     

In turn, the 2010 report updated and replaced the Hyperinflation Special Report version of April 8, 2008, which was published post-Bear Stearns, but pre-Lehman, pre-TARP, pre-recession recognition and pre-2008 presidential election.  The April 2008 report updated and expanded upon the three-part Hyperinflation Series that began with the December 2006 SGS Newsletter, which predated public recognition of the 2007 economic and systemic-solvency crises.

This missive includes significant new material in addition to much of the same basic text that was in the 2011 edition, along with revisions and updates reflecting the still-unfolding economic and systemic-solvency crises.
526  Economy / Speculation / Re: Insider trading ? on: March 04, 2012, 05:39:51 AM
Insider Trading is great!!

It means that the more accurate price is reflected sooner... meaning that investors are not miss-lead longer.  (Meaning fewer bad investments are made).   Grin
527  Bitcoin / Meetups / Re: Bitcoin Conference 2012- London on: March 04, 2012, 12:23:18 AM
I will love to come!  Grin
528  Economy / Services / Re: Bitcoin Service [www.bitcoinservice.co.uk] on: March 02, 2012, 02:26:26 PM
"just 10%"?

ha ha... yep!  Used not to matter when bitcoins were worth like 10c each...

Don't worry; the new website will have a much lower and nicer fee schedule...
529  Economy / Services / Bitcoin Service [www.bitcoinservice.co.uk] on: March 02, 2012, 02:21:06 PM
“Bitcoin Service” is a site that allows you to sell your digital goods for bitcoins.
We were the first site that offered downloads for bitcoin.

This site is still functional and working.  (with some downtime)
We have been busy working on the next generation version of bitcoinservice.co.uk.    The next generation website will soon be announced for testing.

All existing members of bitcoinservice.co.uk will be transferred to the new website, and your bitcoins are safe.  However because of our new security model the existing files cannot be directly moved to the new website.

We will keep all the files available for 3-months after the successful launch of the new website.

Have Fun.
Cam.
530  Bitcoin / Bitcoin Discussion / Re: Bitcoinica Warning: Please do not re-use any old Bitcoin deposit addresses on: March 02, 2012, 02:11:54 AM
@ zhoutong

What is the tx id of the lost coins?
531  Bitcoin / Bitcoin Discussion / Re: How? Security of private keys on: March 01, 2012, 09:54:00 AM
Vanitygen already runs on gpu.



The problem is that it is two many bits... we are dealing with exponential functions here, boys. Smiley
532  Bitcoin / Armory / Re: Armory - The most advanced Bitcoin Client in existence! (v0.5.1-alpha) on: March 01, 2012, 09:04:05 AM
wow.... this looks really cool.

Smiley

 Grin
533  Bitcoin / Bitcoin Discussion / Re: How? Security of private keys on: March 01, 2012, 08:15:52 AM
let someone else reply

No?
534  Economy / Speculation / Re: [Daily Speculation Poll] :: Are you a geek? on: March 01, 2012, 12:53:54 AM
I promise tomorrows poll will be better....

LAWL... Scraping the bottom of the barrel are we?
535  Economy / Trading Discussion / Re: CryptoXChange Associate's attempt to Slander Intersango on: February 28, 2012, 04:50:44 AM
CryptoCoinMedia, do you also have control of the account, noagendamarket?

Why did miserydearia believe CryptoXChange was affiliated with the purchase?

Have you ever been employed by, or owned a part of CryptoXChange?


RaggedMonk you seem insane and should shut up now.  Otherwise I suggest you will lose the remaining threads of respect that you may still command in this community.
536  Economy / Trading Discussion / Re: Possible Bitcoin theft [ Intersango/Bitcoincconsultancy on notice] on: February 28, 2012, 04:45:44 AM
ps. updated my post, so state that whoever was the last administrator of Witcoin should be responsible for the fact that the coins are not available to the registered users.
537  Economy / Trading Discussion / Re: Possible Bitcoin theft [ Intersango/Bitcoincconsultancy on notice] on: February 28, 2012, 04:09:06 AM
This is how I see it;

1.  Whoever is the administrator of Witcoin must also provide a reliable way for any user that is registered to withdraw their witcoin's as bitcoin. (no matter what state the website is in).

2.  CryptoCoinMedia (the owner of the domain, and original payee of the hosting), is doing the community service of making sure that the bitcoins are indeed still under the control of Bitcoincconsultancy (or who ever was the last administrator), (shown by a pre-stated transfer to an address that has a public signature attracted to it).

CryptoCoinMedia isn't requesting that he gains control of the bitcoins; rather Bitcoincconsultancy (or who ever was the last administrator) proves that they are still in control of these coins, and makes them available for people to withdraw.


Cam.


Edit: Spelling

Edit: whoever the owner is...
538  Economy / Trading Discussion / Re: Encoutering Zhoutong, the founder of Bitcoinica on: February 22, 2012, 01:51:56 PM
Z: No. I'm about to study in Australia.

i'm sure you'll get a friendly welcome here z, plenty of aussies would be keen for a chat.


Yepo... Whenever you are in Melbourne; make sure you send me a message Smiley
539  Economy / Speculation / Re: Bitcoinica has paid out the first day's interest! on: February 15, 2012, 11:14:55 AM
(meaning there is a huge intensive for people to provide more liquidly to to fund those positions).


This could be a great way to attract new $$$ into the bitcoin economy...  above market rate interest rates Smiley
540  Economy / Speculation / Re: Bitcoinica has paid out the first day's interest! on: February 15, 2012, 11:11:50 AM
+1.  USD interest rates are way above anything anyone could get anywhere in the world (without the risk of losing your money). 

What's to stop someone depositing $10k, never trading and collecting 8%pa?  High reward = high risk.  No ifs, no buts.

as the exchange gets more liquid the rates go down...

Swaps mean that those buying bitcoin or USD on leverage pay the interest to those providing the liquidity.

What will happen in the future is that the starfish will never exist again as those trying to buy new long (or short in a bare market) positions will be facing extremely high swap costs.  (meaning there is a huge intensive for people to provide more liquidly to to fund those positions).

It is really win-win for everyone Smiley
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