These institutions would be authorised and regulated by a central authority, such as the FCA and they would be required to: Issue leather currency wallets and identify the leather currency wallet owner through KYC checks Maintain a compliance status of each leather currency wallet Monitor leather currency wallet usage to check payments are between other identifiable leather currency wallets Monitor transactions for adherence to sanctions lists Be able to freeze digital currency wallets where they are being used for suspicious activity. http://www.coindesk.com/accenture-uk-government-should-regulate-bitcoin-wallets/How stupid is this? I propose these regulations: - Issue leather wallets and identify the leather wallet owner through KYC checks
- Maintain a compliance status of each leather wallet
- Monitor leather wallet usage to check payments are between other identifiable leather wallets
- Monitor transactions for adherence to sanctions lists
- Be able to freeze leather wallets where they are being used for suspicious activity.
They are just as ridiculous. |
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There is no need to use a mixer for most bitcoiners. Just don't send all your bitcoin to 1 single address, keep funds spread out among lots of addresses and no one knows how much bitcoin you have.
It is the number of wallets, not addresses, that is important. Without careful use of coin control, all the addresses in a wallet will be linked to each other. So if somebody knows one of the addresses in your wallet, they can know them all (with some limitations). |
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Would you trust that encryption to protect your coins? Basically if you had 1000 BTC on the paper wallet and a +20 char passphrase should one be confident that crackin your actual private key is not possible?
BIP-38 is very secure as long as your passphrase is strong. A passphrase with 20 random characters is fairly strong and not likely to be cracked, but a passphrase with 4 5-letter words is not. |
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Why does everything have to have "coin" or "bit" in the name?
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Correlation does not imply causation. Q.E.D.
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The least egalitarian way to distribute bitcoins is to give them away. The most is to trade an equal amount of value for them, which is how it is done now.
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About transaction fees:
Now the fee is no more the difference between all inputs and all outputs, but it is determined by the client in relation to its size and priority, am I right?
It has not changed. The fee is paid by making the outputs less than the inputs. The amount is determined by the client, generally by using the policies in Bitcoin Core that consider the size of the transaction and the age of the bitcoins. |
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Betteridge's law of headlines
Betteridge's law of headlines is an adage that states: "Any headline that ends in a question mark can be answered by the word no." It is named after Ian Betteridge, a British technology journalist. |
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My balance is more like .4 btc.
Anyone with more then what I have Im pretty jealous...
Gee, if you only had another $150, you could have a whole bitcoin. I know plenty of first world folks who wouldn't be able to spare that type of money for something that isn't of immediate benefit to them. Huge numbers of people are out of cash before the end of the month. Not everyone is a virile success with money socked away. I agree that there are a lot of people that should not be holding substantial amounts of BTC because of the risk. However, ... In general, someone who supports themself but cannot save $20 a month is living beyond their means. Those huge numbers of people would be in much better shape if they would lower their standard of living and save at least a small amount of money each month. |
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The base of bitcoin was a person who was just dead. Some says that he was Murdered some says he sucided.Can any one give me a fair explanation of it.Can anyone tell me what is the basis of bitcoin. Or why was the bitcoin was evercreated or why it exist now
The basis of bitcoin is this: https://bitcoin.org/bitcoin.pdf |
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My balance is more like .4 btc.
Anyone with more then what I have Im pretty jealous...
Gee, if you only had another $150, you could have a whole bitcoin. |
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A monetary penalty is no penalty at all when you can print all the money you need...
I wish they would start executing these fuckers like George Carlin suggested. You'd see shit clean up really quick.
Banks don't print money. They don't need to. They just make them magically appear in their computers by passing a few numbers to them. Then those numbers are converted to physical money since they "lend it to you" (which basically means they are giving the command to the computer that X amount of the numbers they added have to be paid by person A in physical money). this the reason why they want to remove cash completely, they want to have full control on their dirty scam, printing is a thing on the past, now with all the electronic money, it's like no one is holding anything anymore Just to clarify ... when people talk about banks or governments printing money, they are referring to general money creation, and not the actual printing of notes on paper. At the height of U.S. QE, the Fed was printing $85 billion per month, but it not was not issuing 850 million $100 bills. |
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You might want to do more research before you start spending money. Otherwise, you are going to pay a lot of money for a worthless hunk of electronics, or you are going to get something that you don't know how to use.
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Nobody goes to jail and the banks pay a trivial fine. Meanwhile, bitcoiners are going jail simply for failing to register as money transmitters. It's disgusting.
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Step 1. Go to blockchain.info.
Step 2. Click on "Wallet"
Step 3. Click on "Start a new Wallet"
Step 4. Save a copy your identifier and your password somewhere offline.
Step 5. Download a backup of your wallet.
Step 6. Use it.
I'm not sure what PGP and GPG have to do with bitcoin or how they could wreck your machine.
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Mining with a GPU is fun, but ... I don't want to be in a "pool"—I want to go solo.
At the current difficulty, your chances of finding a block after mining for a year are about 0.046%, that is once every 2160 years. Good luck. ... You're doing nothing but wasting electricity.
Because even if you mine in a pool, the cost of mining will far exceed your income. |
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Bitcoin does not need a leader, just someone to maintain the code. If the change is good, people will adopt and implement it. It's not as complex as these people are making it.
The Core developers work with the code every day, and they calculate the figures and the impact on the blockchain, and we trust them to make the most sensible changes.
We cannot stay with the status quo, things must change as the blockchain grows in popularity and use.
There doesn't have to be "the code", either. |
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There are two ways to obtain satoshis: you can buy 1 million satoshis for about $2.50, or you can mine them for about $10 in electricity with a 21dotco device. Your choice.
May be I'm just a nut job, but you make me want to break something beautiful. The point of this deployment is not to fuckin' generate a bitcoin from mining from these appliances. It's to bolster the network on a scale that's unimaginable. The point is that it will provide the most robust computational infrastructure on the planet. Ask the investors what the point of this venture is. They will say it is a business, and the point is to make money. The strategy is to get people like you to donate money to the "cause", and they get to keep 75%. If their purpose were really to bolster the network, they could have taken the $116 million, bought 250,000 AntMiners, and then given them away. Furthermore, they aren't really going to "bolster the network". Their plan is to build a mining pool that could surpass 51%, and unlike other pools, you can't switch to another pool if you don't like their policies. In other words, their goal is to centralize Bitcoin mining, and put themselves at the center. Just to be clear. I am all for bolstering the network and providing a robust computational infrastructure, but it has to make economic sense or it will fail. |
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Why did this instantly go to money when 'a satoshi' could be so much more? ...
There are two ways to obtain satoshis: you can buy 1 million satoshis for about $2.50, or you can mine them for about $10 in electricity with a 21dotco device. Your choice. |
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