Dwolla cutting off bitcoin transfers to Mt. Gox. of course Dwolla can't cut off bitcoin transactions to Gox ... only dollar transactions. But hey never let facts get into a news story shall we? |
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I'm really shock bitcoin price hasn't crashed with this news. $119 to $114 isn't really a crash.
I wonder if we will see a slow decline over the next few days as this gets reported in the news.
No think this through a little ... if people can't get their US Dollars out of Mt. Gox via Dwolla what can they do?? Well they can buy BTC and move them out of Gox .... net result BTC demand, USD supply .... |
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If only there were a way to move value around without the threat of it getting seized by a third party. Somebody should invent something.
This ^^  |
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Jeff has a long history of Open Source development work .... I can't see him introducing code contributing to nefarious forks that only work in BitPay's favour ... and anyway he has to get Gavin to sign off on commits ... and worse comes to worse you could always use that branch of the code produced by the development monk sect who took a vow of poverty and study arcane crypto-math as a pastime (last seen in an enclave in the swiss alps some say) and only deliver their source code by USB sticks attached to the legs of carrier pigeon
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Really... by now I just wish BTC to crash and all the VC vultures to lose all the money they invested. THEY ARE THE REAL PROBLEM. Them and the bitcoin foundation, which was turned into a commercial enterprise without you guys even noticing lol The dude from coinlab and his (bitcoinica) lawyer are... you can fill the gap by yourself if you think a little  Yeah ... I'm in two minds here. If the VC's finally get a taste of how authoritarian the govt. has become they may turn into valuable allies. Question for me is whether the more 'compliant' amongst them can wield sufficient influence to turn bitcoin into the whipped pup the govt. might want (if they actually understood it) ... I'm betting they can't. |
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"Its failings notwithstanding, there is much to be said in favor of journalism in that by giving us the opinion of the uneducated, it keeps us in touch with the ignorance of the community."
-- Oscar Wilde
Great quote ... when I turn on the evening news my wife always says "why do you watch it?" ... my reply is that "I like to see what stories the sheeple are being fed." |
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Unleash the wrath of Russian and Chinese hacktivists on DHS?
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DHS agents might be looking to buy in to BitCoins at a lower price?  |
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Interesting you need to leave it running... I supposed this is the same bad news just like when you realize bitcoins make you your own bank and now you have to protect your own assets...
Liberating and empowering, but as the same time risky and burdensome... not for everyone.
This sounds like it makes you your own e-mail server... liberating and empowering, but at the same time burdensome... not for everyone.
Still cool though!
Unlike an email server you only need to connect once every two days to never miss any messages and also you obviously need-not worry about domain names or IP addresses. Probably just need to put it on the cron job list to run daily in the background to catch up and then otherwise when user logs in ... or something like that? |
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nmc client based on the default bitcoin qt client coming soon..
Are you serious?? ... this would be exceptional, i hope you are not jagging our chains here? |
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just email all your worthless, dust choked wallets to the bit dust farmers who'll probably give you a few millbits for it So you trade in your dust for... dust? Well, no. In the scenario described, someone would send me a wallet containing 100's of dust transactions. I can then use them up step by step, and in the end I have a single output with the full balance. It of course depends on how large that one is, but maybe one or two orders of magnitude larger - so maybe no longer "dust". From that, I could send you back half as a single, spendable, non-dust output for you, and keep the other half for my effort. Or so. BTW, if anyone is interested, I would do that for real. Sounds like an interesting idea, and while I don't expect to get rich off it, I will enjoy watching the "non-dust" balance grow. Thanks for explaining it in detail ... I just don't have the energy much anymore ... automate it as much as you can and you might be able to make some "real" coin out of it |
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Another worth while read from Jeff Fong.
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Haters gonna hate  It is increasingly hard not to come to that conclusion I'm afraid .... this guy is meant to be some global guru on risk assessments and all he can come up with on CNN is FUD on why it will never work ...? How about he gives the percentage risks that BitCoin destabilises the incumbent (insolvent) financial players who are being propped up by Central bank money printing? Now that would be some analysis worth reading. And this bit was hilarious, he is basically saying the USD is backed by third world corruption like Bitcoin is backed by the SR ... "Don't underestimate the importance of cash," he said. "Cash facilitates corruption, and there are many governments out there that want to be able to avoid paper trails on every transaction they engage in."Globally, the cash that works for these transactions is the dollar, often the $100 bill.
"This is not insignificant for helping the U.S. as the global reserve currency," Bremmer said |
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I don't know. What could he do? What would you tell him?
Tell him to smoke a bowl. But seriously, this is most likely related to Gox failing to lrn 2 bizness and the resulting suit with Coinlab. Not it is Dept. of Homeland Security ... so not a commercially driven action (officially) but done under of guise of "protecting the citizens" .... from what exactly is left to your imagination mostly. |
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Nice rebuttal: Imagine such a meeting taking place in 1995, before the internet and the web exploded and increased the flow of goods and knowledge beyond anyone’s imagination. Imagine that these same people met and decided that an unregulated internet was “not acceptable” and that legislation needed to be tabled to regulate who could publish on the internet, who could be an email provider, etc etc. http://irdial.com/blogdial/?p=3600It is a valiant effort but the thing about gatherings like 50 bureaucrats considering new technologies as "threats" is it sends an unshakeable chill into potential business communities that are extremely difficult to ignore. Because they have power of the law (and increasingly arbitrary 'rulings') behind them businesses just try to stay well away in case of being blind-sided and put out of business overnight by some edict or another ... who in their right mind would put up risk capital for a start-up in that environment, (except big players who corruptly 'own' the regulators of course). I fear it is too late and the UK has just put a great big red sign to start-up businesses ... "BITCOIN REGULATION IN PROGRESS, STAY AWAY!" UK is obviously NOT the place to be setting up BitCoin business ventures right now, they have made that message perfectly clear. It is going to take a massive change of perception for UK to come back from this in order to encourage Bitcoin ventures that they are business friendly .... Edit: it would really be too sad if Satoshi was actually a British polymath ... yet another one that got away for the Brits who are prolific inventors but seem endlessly stymied by their rentier class ... jet aircraft, computing, web, the list is pretty long  |
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I had the same problem, and for the adventurous, have put together a script based on the raw transaction API of bitcoind ( http://www.domob.eu/projects/coinCollection.php). For me it works fine, and allows to "collect" small transaction outputs into larger ones step by step, without paying fees. You have to be willing to wait some time for a miner to pick up your free transactions, but if you are patient, it works. BTW, in my opinion this also *benefits* the whole network - because it shrinks the UTXO set, helping every validating node. I call this "BitDust Farming" and think it is an opening where I can see the free market fulfilling both needs ... moving 'uneconomic' Txout out of UTXO set and giving rawtx gurus with time on their hands a way to make some bitcoin ... just email all your worthless, dust choked wallets to the bit dust farmers who'll probably give you a few millbits for it ... anywhere you see a rubbish pile there are always people raking over it ... ... as the old Yorkshire saying goes "there's money in muck" |
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Great discussion ... |
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finally.
the Silicoin Valley guys are starting to get it.
this is going to be fun.
no time for resting on laurels ... still got the slashdot and zerohedge crowds to bring up to speed (they seem to be quite recalcitrant to adopt the new technology for techno/financial savants) Also ... “bitcoin has many features that make it attractive not only as a potential future currency but as a replacement for all contract law. In one swoop, any economy that takes up Bitcoin as a currency will rewrite all contract law (eliminating the need for lawyers in 99% of situations), will eliminate the need for exchanges, and make international trade infinitely simpler.” ... would love to read/hear a piece from Ravikant expanding on these ideas. Sounds identical to some discussions regarding Open Transactions Ricardian Contract constructs and Smart Contract. Maybe he's been speaking with Monetas? |
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Good work Andreas. I move that this post be stickied in this section ... (labelled "Press" strangely enough)
... also wondering if there is any policy regarding pseudononymous "experts" getting posted to the press center?
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Good informative piece for the layman on the real issues at the root and bitcoin's potential role in the ongoing currency crises saga.
Well done Jeff Fong.
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