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5621  Economy / Gambling / Re: SafeDice.com ★ Bitcoin Dice ★ Low 0.5% Edge ★ Referral ★ on: January 15, 2015, 10:59:03 AM
any plans on running a sig campaign? Smiley

I don't think it would be a good idea, it's simply too expensive atm, it would be hard to match/beat bit-x rates and they still have spots available.

Better way would probably be starting some sort of promo contest, i.e. small daily reward (say 0.01) for the player who wagered the most in one day. That should keep the activity at decent level at relatively low costs.

They could do a trial run for 7 days just to see how it goes.

Just my thought.
5622  Economy / Speculation / Re: Are we going to see bitcoin below 100 soon? on: January 14, 2015, 11:23:00 PM
I don't think bitcoin will drop under 100, the bottom was 160 and that's it.

Well, the price took a dive below 160.

BitStamp day's range: $152.40 - $230.89.

I was watching BitStamp this morning and seen the price going from ~190 to below 160 within few minutes, then it bounced back to over 180.

I've got a strong feeling it's something more than panic selling and miners dumping.
5623  Economy / Gambling / Re: SafeDice.com ★ Bitcoin Dice ★ Low 0.5% Edge ★ Referral ★ Fast Cashout ★ Fair on: January 13, 2015, 11:04:03 PM

Technical question:

Does the 'Risk level' option only works when making new investment?
Say if I already have X amount invested at 1x kelly, would changing risk level from drop down list to '2x kelly' effectively change my current investment?
Or would I have to divest, enter the Custom Amount, pick kelly option and click 'invest'?
5624  Economy / Gambling / Re: Best dice site to invest in. on: January 13, 2015, 06:50:51 PM
SafeDice.com now implemented multiple investment options "kelly":


Yes, now we have multi kelly investment enabled. Investor can choose from the conservative 0.5x kelly to 10x kelly risk level.

Those are improvement for the players too, the max win has raised a bit since the implementation. Now any bet below 0.26 BTC will have < 1% H. E. Wink

To invest you need to ask for the investment option to be unblocked.

Official thread:

https://bitcointalk.org/index.php?topic=868275.0
5625  Economy / Gambling / Re: PocketRocketsCasino.eu - 100BTC max payout! New updated website + promos on: January 13, 2015, 06:50:32 PM
Today is not the best Bitcoin day. PocketRocketCasino down?

Looks like just an update:

"Pocket Rockets Casino is offline temporarily while updates are being made.
We'll be back in a bit..."
5626  Bitcoin / Bitcoin Discussion / Nasdaq.com: Current BTC Price Shouldn't Be A Concern on: January 13, 2015, 06:44:52 PM
Quite sensible observation by M. Tillier:

Quote
Those who stand in implacable opposition to Bitcoin seem to want it both ways. “Look,” they say,” Bitcoin has dropped from over $1100 to under $250; it is obviously worthless!” Then, at the same time, they maintain that the jump up to nearly $1200 was evidence of a massive speculative bubble and had no real bearing on the actual value of the virtual currency.

Surely though, if the second contention is true then the first has no validity until we break significantly below pre-bubble levels.

Bitcoin’s value against the U.S. Dollar (BTC/USD) started that crazy two month run up from a level just below $200, as the chart below shows.

http://www.nasdaq.com/article/bitcoins-bubble-means-that-current-levels-shouldnt-be-a-concern-cm432278
5627  Bitcoin / Bitcoin Discussion / Re: Bitstamp hack bitcoins are now moving! on: January 12, 2015, 11:06:57 PM
Can a coinmixer confiscate those coins and return to Bitstamp? The only problem is that nobody will use that mixer any more.

Technically they could. But as you mentioned that would be the end of their business.

I reckon BitStamp would need to offer something around $0.5-$1m reward to convince mixer to seize such coins. Anyway, it's pointless since hacker will be mixing it slowly, not all at once.

The hacker will mix them slowly and bitmixer would not give away the bitcoins because it would be against the ethic of their business.

How do you think he will mix and cash out? Would he cash out to his real name. Maybe through bitstamp!

Confused here. Where did I say anything about hacker cashing-out?
He will be cashing out but how and when is a completely different story/speculation.
5628  Economy / Speculation / Re: "Bitcoin is dangerous, avoid it" - Gavin Andresen on: January 12, 2015, 10:48:36 PM

The FDIC insures deposits on member banks up to $250,000. So basically, as long as the US government is still around, your money is safe.

Bitcoin, on the other hand, introduces all kinds of new ways to wipe your balance out in ways that you never even expected were possible before! Hardware failures, hacks, social engineering, natural disasters, fires, physical thefts. And in none of those cases are your balances insured by the single most powerful entity in the world. They're not insured by anyone. When they're gone... they're gone!

But what do they call that in bitcoinland...? Oh right, "a valuable lesson learned about computer security."

Your money is safe as long as it's not more than $250,000 or as long as the government itself is solvent (see Cyprus) or as long as they don't introduce the idea of negative interest on high deposit (you need to move your money elsewhere or you'll be losing it) or ridiculous taxes on interests etc.

But yes, I do enjoy the fact that fiat in my bank are somewhat insured (even if it comes at cost). I also do enjoy the fact that I can withdraw some cash and carry it in my pocket completely uninsured, that I can move my funds to a less secured place, that I can convert it to gold and keep it under my bed if I ever wanted to.

Same as I enjoy being able to use bitcoin as an alternative currency, whether I choose to keep it in my control (with associated risk) or deposit with 3-rd party (even with some sort of insurance, such as Circle). And if I ever feel uncomfortable - I don't have to use it at all, as it's completely voluntary.

It's good to have various options in life to choose from. No?

ps. Still don't know how was that relevant to my post, but...oh well.
5629  Economy / Speculation / Re: "Bitcoin is dangerous, avoid it" - Gavin Andresen on: January 12, 2015, 10:15:53 PM
...which requires the creation of offline wallets to keep even reasonably safe.

No it doesn't.  Quit trollin'.

It does not?
So it is completly safe on an online computer? There is no risk for keylogger? Really? Damn nice! Glad I can use SuperSecureBitcoin!123 as my password as well.

Bitcoin can be stored safely, but not in online wallets or wallets on online computers.
It is way easier to steal bitcoins on a online computer than hacking an ebanking account, because all banks use at least 2 factor auth. Some even are using tokens.

They're talking about 'reasonably safe' not 'completely safe'. Nothing is 100% safe and will never be.

Which is why it's a good thing to have FDIC insured, regulated banks, no?

To have what insured? How's that related to "Nothing is 100% safe and will never be" (including insured deposits)?
5630  Bitcoin / Bitcoin Discussion / Re: stolen bitcoins on: January 12, 2015, 09:46:38 PM
Slightly off topic, but close none the less.  Is there a way to tell if 1 address is owned by the same wallet at all? 

This is pretty good tool, just enter the address and it'll show you the wallet activity and all related active addresses:

http://www.walletexplorer.com/
5631  Bitcoin / Bitcoin Discussion / Re: Bitstamp hack bitcoins are now moving! on: January 12, 2015, 09:18:19 PM
Can a coinmixer confiscate those coins and return to Bitstamp? The only problem is that nobody will use that mixer any more.

Technically they could. But as you mentioned that would be the end of their business.

I reckon BitStamp would need to offer something around $0.5-$1m reward to convince mixer to seize such coins. Anyway, it's pointless since hacker will be mixing it slowly, not all at once.
5632  Economy / Speculation / Re: "Bitcoin is dangerous, avoid it" - Gavin Andresen on: January 12, 2015, 08:59:49 PM
...which requires the creation of offline wallets to keep even reasonably safe.

No it doesn't.  Quit trollin'.

It does not?
So it is completly safe on an online computer? There is no risk for keylogger? Really? Damn nice! Glad I can use SuperSecureBitcoin!123 as my password as well.

Bitcoin can be stored safely, but not in online wallets or wallets on online computers.
It is way easier to steal bitcoins on a online computer than hacking an ebanking account, because all banks use at least 2 factor auth. Some even are using tokens.

They're talking about 'reasonably safe' not 'completely safe'. Nothing is 100% safe and will never be.
5633  Economy / Exchanges / Re: ***CEX.IO Bitcoin Exchange. BTC/USD, BTC/EUR. Official page*** on: January 12, 2015, 08:12:38 PM
@CEX, would you care to shed some light on why the Ghash's hash rate haven't changed even a little bit?

5634  Economy / Speculation / Re: "Bitcoin is dangerous, avoid it" - Gavin Andresen on: January 12, 2015, 07:58:03 PM
I want to read the ''Analysis page 16''

I made a separate thread in Bitcoin Discussion section, full article + link:

https://bitcointalk.org/index.php?topic=921669.0
5635  Bitcoin / Bitcoin Discussion / Re: Gavin Andresen on the front page of the FT on: January 12, 2015, 11:19:48 AM
At least he's being open to tell the truth. If look at it positively, it's even worse if let's say for someone new to bitcoin who has completely zero knowledge about bitcoin security and ended up getting hacked and later comes up with a negative conclusion. It's like he already telling you to take security seriously before you even get started into bitcoin. So what is wrong with that?

Gavin's statement is pretty sensible and understandable. But FT seems to put it slightly out of context, many people will look at the front page and read something like: "Bitcoin CEO advises to avoid bitcoin" and that's not very good.

The ideal message should imo be "Give bitcoin a try, but don't put too much money in it".
5636  Bitcoin / Bitcoin Discussion / Re: Got 100+ Bitcoins refunded from Butterfly Labs today on: January 12, 2015, 10:45:09 AM
I also made a small order back in Nov 2013 (cloudmining). They didn't deliver the service, I considered my small amount of BTC lost, but then in July 2014 I decided to email them and ask for a refund.

Got the following reply:


Quote
Thank you for your information. Refund requests are processed in the order received and paid within 30-45 calendar days. This time is necessary to appropriately research and reconcile requests with payments, vouchers, upgrades, payment methods etc. to ensure that customers receive the full refund they are due. We will let you know when we have sent your refund.

 Thank you for your business. We hope to see you back!

They kept me waiting nearly a month, but I got my refund eventually. They refunded the USD equivalent, so similar to the OP, I did make some profit in BTC terms.

Again, the purchase amount was very small, so it might have been a reason they didn't object to my claim. I understand many people weren't that lucky.
5637  Bitcoin / Bitcoin Discussion / Re: Who said the BTC price doesn't matter? BitPay announces layoffs on: January 12, 2015, 10:18:06 AM
What does it have to do with bitcoin price?

The article doesn't even mention that price could be a reason for lay offs.

Quote
This comes as shocking news as Bitpay becomes one of the first major Bitcoin companies to lay off employees. It is thought that the recent spate of spending may have led to a shortage of funds. The recent multi million dollar sponsorship deal that Bitpay signed with the St Petersburg Bowl is thought to be a long running commitment running till the end of next year. However the company has let slip that this was not the true reason behind the layoffs as they put it down to a simple surplus in labor and workers. The quote below displays the reasons behind the recent layoffs.


It is unknown if the layoffs reflect a systemic overspending problem at BitPay which could burn through the funds they have raised from venture capitalists, or if the layoffs were taken to address an excess of hiring beyond that necessary for their labor needs. Bitpay has historically been known for “celebrity hires” like their hiring of Bitcoin Foundation board member Elizabeth Ploshay as an account manager in the Summer of 2014.
5638  Bitcoin / Bitcoin Discussion / Re: Gavin Andresen on the front page of the FT on: January 12, 2015, 09:24:47 AM

Couldn't read the full article (reading the article online requires registration and free registration can only let you read 3 articles per month; how lame is that?) but it is possible that he also talked about Bitcoin's strength and potential, but the newspaper chose to quote the other part.

We have seen such media attempts in past and this one is no different.

No probs, I'll copy/paste and update the first post shortly.
5639  Bitcoin / Bitcoin Discussion / Gavin Andresen on the front page of the FT on: January 12, 2015, 07:35:22 AM
Found on Reddit:

http://www.reddit.com/r/Bitcoin/comments/2s3f2c/so_bitcoin_gavin_andresen_made_the_front_page_of/



Here's the link to the full article:

http://www.ft.com/cms/s/0/9b27fb72-967f-11e4-922f-00144feabdc0.html#axzz3OafGQGCA

Edit: for those who can't access the article:

Quote

Bitcoin is dangerous and people should steer away from using it. This is a bearish opinion held by many traditional investors, but not one you would expect from the man responsible for turning the virtual currency into a commodity worth billions.

Yet, that is the view of Gavin Andresen, chief scientist at the Bitcoin Foundation, the closest thing to a central bank for the nascent cryptocurrency. He is considered the leading custodian of the bitcoin code, the rules and software used to run the cryptocurrency. But far from being a cheerleader, Mr Andresen, is warning ordinary people to avoid bitcoin — for now.

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“It actually is dangerous and people should be aware it’s like the early internet,” he tells the Financial Times. “If you lived through time, you remember lots of press articles came out saying don’t give internet companies your credit card details. But the internet grew past that. Bitcoin will be the same way. Over time, I will stop saying to people, ‘Don’t use it unless you’re technically proficient enough to keep your computer secure’.”

Concerns about security were heightened on Monday after Bitstamp, Europe’s leading bitcoin exchange, suspended its operations following an apparent hack that led to the company losing 19,000 bitcoins, worth about $5m.

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These safety issues have led to a steady fall in the price of the cryptocurrency. At its peak, bitcoin was traded for $1,240 on the Mt Gox exchange, the Japanese group that filed for bankruptcy last year after losing about $450m worth of bitcoin in a cyber attack. According to Coindesk, the bitcoin news site, the price is now about $283.

“Bitstamp is handling the incident well,” Mr Andresen says, by being transparent and explaining to customers what happened. “I hope they take the time to publish a complete postmortem on details of the attack, so other exchanges can learn from their mistakes.

“I hope Mt Gox does the same because we still don’t know what happened.”

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Mr Andresen is considered the protégé to “Satoshi Nakamoto”, the name adopted by the supposed inventor of bitcoin. After collaborating on the project over email, Mr Andresen was given Mr Nakamoto’s blessing to become the “core maintainer” of the bitcoin source code, working full time on the project.

While Nakamoto appears to have vanished, Mr Andresen wields huge influence on the development of the currency. He helped to found the Bitcoin Foundation in 2012 and groups from financial regulators to the CIA seek his advice.

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His knowledge of bitcoin has led to suggestions he may actually be Nakamoto. “I am not Satoshi,” he laughs. “Ask any geek. Point them to code written by Satoshi and point them to code written by me. You can tell, they’re not the same guy.”

His theory is that the inventor is “a young academic type, somewhere in the world. I don’t think Japan. Perhaps the British Isles actually because in Satoshi’s communications he [used British rather than American spellings]. I think there’s an academic thinking about other stuff, sitting on a big pile of bitcoin.”

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The one person who Mr Andresen says is definitely not Satoshi Nakamoto is Dorian S. Nakamoto, the Japanese-American engineer that Newsweek named as bitcoin’s inventor last year. Mr Nakamoto, who lives in California, denies any role in bitcoin.

“He’s not the Satoshi I talked to,” says Mr Andresen. “I feel sorry for Dorian that so much personal attention got focused on this person. That shows why the actual Satoshi has worked so hard to stay anonymous.”

His influence at the Bitcoin Foundation could soon increase, after it emerged Jim Harper, its global policy counsel, was dismissed earlier this month. The move is seen as a shift in focus for the non-profit group away from policy and regulation and back towards developing bitcoin’s core technology.

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“It is always hard when an organisation pivots and priorities change,” he said. “Effective organisations have a clear mission and focus and there is plenty of work to be done on the technical front to keep the foundation busy.”

Though Mr Andresen concedes bitcoin remains in the early days of its development, he is confident it will mature, noting that more than $300m of venture money had been invested in bitcoin start-ups in 2014.

Mr Andresen is also at the forefront of efforts to ready the virtual currency for wider use. As it is currently designed, the bitcoin network can process just seven transactions a second. By comparison, Visa is capable of handling close to 50,000 transaction a second at peak times.

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Mr Andresen’s proposed solution is to increase the size of bitcoin blocks, the files that hold the data that underpins the currency. Their size limits the speed at which the bitcoin network can process transactions. Larger blocks can contain more transactions and, therefore, increase the capacity of the network.

But there are concerns that increasing the block size will put a strain on the network. Bigger blocks packed with more transactions requires transmitting and storing more data. This may also make it difficult for hobbyists to store a full copy of the “blockchain”, centralising power in the hands of corporations that can afford expensive servers in big data centres.

The issue is being debated by bitcoin developers. But Mr Andresen says that “we’re really close to consensus” to approve his proposal, a move that “in 20 years, would allow us to have enough capacity to handle every single electronic transaction in the world”.

While Mr Andresen tries to prepare bitcoin for mass usage, he advises caution to investors. He holds thousands of bitcoins, enough to retire comfortably. But he has been cashing them in slowly, investing in stock market funds instead.

“Bitcoin is wild and crazy investment that I’m diversifying out of all the time,” he says. “If bitcoin is wildly successful, I’m still holding on to a good chunk of bitcoin. It could be worth tens of millions of dollars, but it could be worth zero. It doesn’t make sense to hold more than that amount. I don’t have a desire to be a multi-billionaire. That’s not what motivates me, I have no desire to be filthy rich.”

Copyright The Financial Times Limited 2015

5640  Economy / Service Discussion / Re: ▁ ▂ ▄ ▅ ▆ Cloudmining 101 (ponzi risk assessment) ▆ ▅ ▄ ▂ ▁ on: January 11, 2015, 11:14:29 PM
Seems like cloudminr.io just collapsed.

Didn't you mean cryptomine.io? Judging by the official threads, they're looking much worse than cryptominr.io.

...Surprising absolutely no one reading this thread.

Just rename it to: "Earn a quick $$$ by cloudmining!!!" - attention of potential ponzi victims guaranteed  Wink

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