Money in any form when in actual use as a medium of exchange.
Bitcoin is currency to me.
Yep. Somehow people just fail to understand the simplest thing. Something could be currency and commodity at the same time. Now whomever has any doubts get this: Money is an abstract idea of using something as medium of exchange instead of barter.
Currency is simply physical or virtual representation of money.
This is it! There is nothing else to say on this topic.
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Most of orders of #2 and #3 were shipped during this week. All UK based customers were shipped their copies of #2 and #3 earlier in August. All customers who ordered in bulk were shipped their copies in August by express mail. This is going to be standard shipping procedure going forward. i.e. UK and bulk orders are shipped about a week after "print sign off date" (allow extra 1-3 days for transit). The rest of the orders are shipped about two weeks after "print sign off date" (allow extra 1-2 weeks in transit). If you want to be among the first to receive the magazine you either need to relocate to UK or to order 20 copies or more, see "bulk orders" here http://bitcoinmagazine.net/subscribe/ . UK and bulk I ship personally the next day after we get delivery from the printer, the rest of magazines travel by road to our EU warehouse and shipped from there. |
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Yep it would be much wiser to be much more abstract and use word "Ponzi" or even "Fraud" instead of "MMM". My bad.
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How did imsaguy get his VIP badge? I guess we will never get any admission of who paid for it. Who are the people who attained VIP status around the same time? Could it be that they are pirate-preachers?
And this again brings up the inconvenient matter of some operators of this forum profiting personally from this ponzi scheme, effectively aiding and abetting its proliferation by granting for an extended period of time (while invested themselves) most of the ponzi feeder fund threads a sticky status and then saying something like "I thought it is a ponzi but I risked my money and profited from it, but it is ok" |
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Why would anyone run a secret pass through to a ponzi when they could just run a ponzi themselves?
With reference to "Breaking Bad", reportedly a favorite show of Pirate and some of his leutenants: Why buy meth from a cook and sell it on the street, when you can cook it yourself and then sell it? |
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my guess is that Matthew has someone with deep pockets who is funding him and wants to stay anon.
maybe mtgox itself?
- just to help the bitcoin community to hedge their risk.
satoshi  That would be so awesome: A deity coming back down to Earth to save us all. I am really really hoping this is the case. I am, however, a pessimist. Watching this thread.  |
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Now imagine they vote with bitcoin instead of sms for x factor and whatever got talent etc... geez I need to patent it, lol.
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Keep trusting all fly by night operators, keep continuing ignoring the reality. I can prromise you one thing, however, it will be much more difficult to ignore consequences of ignoring reality.  |
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A separate daemon can be written to run on the wallet box and reach out regularly (every second?) to a database held on some other box. Entries in this database can indicate actions that should be taken on the hot wallet (procedure numbers to indicate which function to run, additional columns or tables to hold parameters). The daemon can be written to validate the database entries against a set of sanity checks (size, frequency, destination, etc). It can then trigger an alert (pager, txt msg, phone call) to system administrators and refuse to process the request from the database when any transaction, or set of transactions, exceeds any sanity check. System administrators can then determine if the attempted interaction with the hot wallet is legitimate and handle the situation as needed. If the private keys for the hot wallet are known to be kept offline in cold storage, the daemon can even shut down bitcoind and delete the local copy of wallet.dat when it detects any obvious sign of intrusion.
Yep, this is a no brainer. |
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Nope, trust me, even the best MLC USB drives do not live in servers long. With all the trashing bitcoind gives em they will not last long at all. It is of course unless the system is built so that writes are rare, but this certainly not the case with bitcoind. Also USB interface is surely not the bottleneck, erasing/rewriting blocks is what takes time AFAIK. SLC USB drives is another matter of course, but try to find one and even if you do, it would cost an arm and a leg and whatever your miner mines during 2013.  |
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RAM is dirt cheap these days
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Has anyone succeeded in using a usb key to store the bitcoin database ? If so, which format ?
I run my miners in January 2011 from USB pen drives each with own bitcoind. Had a simple script that loaded database to a memory based fs at the start and some daemon that once a week or so dumped database back to USB drive. wallet.dat was symlinked direct from USB drive. If you run db direct from USB drive your drive will die painful and agonizing death rather quickly. (too much writing). |
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...
There were victims of Madoffs who YEARS after he was arrested believed it was all some misunderstanding or clerical issue. Some thought it was some govt conspiracy to take Madoff down and their funds were simply collateral damage. All kinds of fantastical (and highly implausible) conspiracy theories. There are people still TODAY asking where is the money. Even when explained that the incoming money was paying out prior investors for decades (and a nice cut skimmed off the top by Madoff) they hold out hope that the money still "exists". While they can comprehend that Madoff was a theif/scam artist they still cling to the paper totals and can't accept that there is not some hidden bank account somewhere with all the money.
As to your direct question. A bunch of reasons:
1) Some as simply in denial. If the believe it wasn't a ponzi they will get repaid and have the last laugh
2) Some accept they will never get the money but wont admit it is a ponzi because they will look stupid. So as long as they "demand proof it is a ponzi" well then they can win some kind of stalemate on the level of "nobody will ever really knows if it was a ponzi or not".
3) Some are criminally complicit. They knew it was a ponzi and encouraged others so they could profit off it. They will NEVER admit it was a ponzi. Hell if Pirate said it was a ponzi they would still admit they didn't know and come up with fantastical stories on how it *could* have been a non-ponzi.
4) Some simply want to be right. The ponzi vs ponzi "forum war" was divisive. Some people just want/need to be right even when they ended up on the losing side.
You will never have 100% of people admit something even when it is obviously true. Hell there are people who won't accept that the Holocaust ever happened. There are mass graves, stories told by millions of survivors, documents, news reports, the actual concentration camps still existing and some people STILL (and NEVER will) believe it happened. There will be far less direct and physical evidence of Pirate's crimes.
R-E-S-T-E-C-P ! ( http://www.youtube.com/watch?v=klz6IVHfHpY) but seriously, QTF the best post in this thread. |
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Whether they will get claimed performance or not is basically a question of whether they have ~30 million USD for R&D and 9-12 month time or not.
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Replace word "bitcoins" by "potatoes" and any judge will figure out on the spot what to do.
Potatoes aren't a digital construct thinly traded only on unregulated exchanges. I do agree that Bitcoin will need to be regulated eventually. It simply can't co-exist with fiat currencies without definition. However that day isn't today. Of course. However, potatoes have value, they can be stolen too. Imagine a commodity exchange where you can deposit bags of potatoes that you and other customers have "farmed". Those potatoes can be sent to the exchange as well as fiat money (legal tender btw). Someone have stolen all the potatoes, exchange goes BK... Effectively a judge has only two choices: 1. Distribute all fiat back to depositors and leave potato sellers to hold the bag (an empty potato bag no less). 2. Value all the lost potato deposits in fiat, distribute whatever fiat left proportionally. I bet it will be 2. |
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Replace word "bitcoins" by "potatoes" and any judge will figure out on the spot what to do.
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Few questions:
Where your servers VPS?
Who hosted your servers?
from whois Name Servers: ns1.linode.com ns2.linode.com ns3.linode.com ns4.linode.com unbelievable! I suppose 10$/month is something that kills common sense outright. |
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A few kBTC/year on proper hosting/security is by far better than 30k loss per year on top of all the reputational problems and likely biz failure. What kind of security guarantee does one get for a few kBTC/year? Zero true but most risks would be reduced dramatically. Silensec Labs Ltd. (a joint venture of myself and Silensec http://silensec.com/ ) would be happy to discuss what a few kBTC can do for one's information security. But we are going offtopic here, 2 posts full of shameless plugs is too much already. |
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I somehow lack compassion today and for that I do apologize.
Having said the above I must say that you kids with all those fat wallet.dat's sitting on your laughable amateurish servers do deserve to be hacked and will continue to be hacked. Right until you come up with some money to pay pros to help you out with information security.
Once you have some money to spend on security conscious hosting and consulting do let me know. A few kBTC/year on proper hosting/security is by far better than 30k loss per year on top of all the reputational problems and likely biz failure.
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