Ordered one of each for fun. I ignored your minimum 10 BTC order limit and sent you 3.04 BTC. If you are really going to stick to your minimum 10 BTC limit then send my BTC back to me at http://firstbits.com/1burtw and cancel the order. Please listen to Mike, he really knows what he is talking about. |
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Sure I can. I (me Burt) trust Mike. I can do that if I want to. Not 100% sure why I do but some factors are that he uses SSL, he funds the coins, he has been around a long time, I have PMed him and gotten to know him, he makes more money selling coins than he would ripping people off at the current level of coin production.
I do not know this guy... yet.
If these things were in general circulation and there were a lot of them he could make a lot of money in one giant scam - that is obvious.
That also applies to the coins, true.
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Also, I think these people purposefully sending Bitcoins to invalid addresses would be only a minute part of the total number of Bitcoins lost. So in any case all we would be able to say is that "a minimum of x Bitcoins are probably lost". Which is kind of an unexciting statement  . I agree. |
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We trust Mike ( https://www.casascius.com ) because he has been around for a long time, has earned our trust and has gone to great lengths to describe his private key handling process. Also he has published his real name and address etc. Who are you that we should trust you with our private keys? What is your private key handling process? This entire system rests on your ability to convince us that we can trust you. I REALLY like the idea and would like to buy some but I need to know a lot more about you personally before I do. Are you willing to publish all your real life information? |
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Yes BUT, for all of the addresses: 1But1DontWantToGoAmongMadxxxzDmyW6
1Peop1eA1iceRemarkedxxxxxxxxxuLyKu
12ohYouCantHe1pThatxxxxxxxxxzCjyMs
19SaidTheCatWereA11MadHerexxyTvEir
191mMadYoureMadxxxxxxxxxxxxxvwA4Up
1HowDoYouKnow1mMadSaidA1icexxZA4Nr
12YouMustBeSaidTheCatxxxxxxxz2tFa2
12orYouWou1dntHaveComeHerexxvtHbqq
1BitcoinEaterAddressDontSendf59kuE
1BitTaLkTVChristmasSpeciaLXXRix9Ea
We can say with almost 100% certainty that no private key is currently known and no private key will ever be known. So we can say with almost 100% certainty that BTC send to any of these addresses have been destroyed. Maybe a simple search through the block chain for recognizable words or phrases of a certain length? |
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I seem to recall you had some trouble getting the domain from Atlas. Did you ever get it?
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Wonder why they destroyed 0.005 BTC in 5 different transactions. They could have gotten this dead end address into the block chain with only one transaction. Why 5 from the same source? Interesting  At least the transaction from the OP made some sense since they wanted to insert several different lines from the book. |
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I thought that we could simply generate a key pair by using a memorize phrase as the seed to the key pair generator. So I could memorize "Now it the time for all good men to come to the aid of their country" and then any time I want I can generate the corresponding public and private key pair from this phrase. As long as I keep my phrase secret (oops) I can get access to my coins.
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In a thread in the economics forum we were discussing if there might be a way to calculate and/or estimate how many coins have been lost and destroyed. These coins are now destroyed and others are "obviously" destroyed for example everything sent to 1BitcoinEaterAddressDontSendf59kuE
I wonder if there would be a way to automate the discovery of these dead end addresses and calculate the sum of all coins that have been sent to bitcoin purgatory. I say purgatory because there is a finite but very small chance they may someday be recovered.
This is important from an economics point of view because when you calculate the monetary base of the system it is equal to the BTC produced to date minus the BTC lost (lost private keys) minus BTC destroyed on purpose (like these coins were). Currently, for Bitcoins the money supply is for all practical purposes equal to this monetary base and the money supply is used to estimate inflation, etc.
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If you lose your wallet.dat file you lose any bitcoins in it since you just lost your private keys. The public address is just that the public address used to send bitcoins to you. You need the private key(s) to spend/send/access the coins so be sure to back up your wallet.dat file before you lose it!
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Refunded by whom? Here is my favorite address you can use if you want to burn some Bitcoins. If you send your coins to it they will be lost forever, just like the address says! http://firstbits.com/1bitcoin = 1BitcoinEaterAddressDontSendf59kuE |
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Bought 5 of the 5 coin coupons (there were no 10 coin coupons left when I got there). Worked great. Nice service. I will use it and recommend it as long as it is up and running. Now it looks like you are out of stock. When will you reload your site?
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Are you asking how to import your vanity address into your client? Personally, I store all the vanity addresses/accounts I find in my https://strongcoin.com account since it is much easier to import private keys into StrongCoin than into the standard client. You can also very easily import mini private keys (from physical Bitcoins) into StrongCoin. |
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Atheros, you write on the wiki page: There is disagreement concerning whether Fractional Reserve Banking is realistically possible with Bitcoin, and what it would require. I have said multiple times that I do not claim that FRB with Bitcoin is impossible. On the contrary, I provided several historical examples of bitcoin FRB. Why do you keep misrepresenting my claim? I did not put enough thought into my previous response to this post and it ended up totally wrong. So I have deleted it and here is another attempt at a summary: There is general agreement that FRB is theoretically possible. Anyone could set up a bank, convince people to deposit their hard earned BTC into it (pay interest, give away toasters, etc.) and then loan out a percentage of these BTC that they recieve - keeping a fraction on reserve to handle day to day BTC requests from their customers that have BTC deposited at the bank.
However there is strong disagreement as to how the existence of BTC FRB might affect the BTC money supply. |
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Burt,
I think in retrospect that some of my claims were unfortunate and inaccurate. I reflected that in the latest edit of the wiki page. Please review.
I am sorry but can you republish the link for me? |
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