Oops, somebody forgot their whois privacy when they renewed their domain.
I hope that's not the owner's real info... I seriously doubt the owner of the visable website is directly connected to whoever runs the Silk Road hidden service on Tor.
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I accept your points, as plausible and logical. I disagree with the cost of production and estimation of losses. The cost of production of Prison Break is just taken from Wikipedia. It is not infallible, but that's the numbers I've seen. Prison Break was especially covered in the news for being the most popular TV Series that "no-one" saw on TV. I saw the first season of Prison Break on TV, but after that they quickly lost their muse. The plot of the first season, the idea that an intelligent person would first engineer a new prison, arrange to get his brother transfered there, and then get convicted to be sent there, and have his break-out plan encoded onto his skin as a tatoo is pretty cool. But once they were out, it was just like so many other drama shows I've seen before.
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This place is waaaay too easy to find, and the operators are personally selling illegal drugs in the united states?? No thanks. BTW there's a guy selling stolen credit card info on there.....
I'd wager you 50 BTC you can't actually find it's physical server location.
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And the Bitcoin economy (the amount of goods and services exchanged via BTC) does not seem to rise fast enough to justify the "bull market" this year.
That you can see, that is. I quetly wonder how much of the BTC exchange price is black or grey markets like Silk Road. Certainly such markets exist, even if we here couldn't access them, and even a small percentage of those who could access them using Bitcoin as their medium of exchange could explain the large run up over the past 8 months.
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Imagine Google can summon 5.4 TH/s of power. The current hashrate is .6 TH/s. For the sake of simplicity let's say difficulty adjusts every 2000 blocks.
Blocks 1-10000: Business as usual; network ends at .6 TH/s. Block 10001: Difficulty resets. Google turns on their network; starts hashing. Blocks 10001-12000: Google finds these blocks approximately 10 times faster than they should, or, approximately one per minute. Block 12001: Difficulty spikes to approximately 10 times the last difficulty. Google shuts off their network; hashrates are now .6 TH/s again. Block 12001-14000: The network finds these blocks approximately 10 times slower than they should; or, approximately, one block per hour. Instead of taking two weeks, the next difficulty reset takes five months.
Except that can't work. As I mentioned earlier, there is a difficulty adjustment parameter rule that prohibits the difficulty from adjusting up or down by more than a factor of four. So the max that can be expected is that the Google can do is move the difficulty by that factor of four, which may or may not actually be worthwhile, but if the attack cannot be repeated in consecutive cycles (maybe, but I would say that it would be very unlikely to work out that way) then it's probably not a worthwhile means of manipulation for profit motives alone. What kind of harm to the system itself could such an attack cause?
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Agree with you.
And it is even more than that: The current rate of mining creates 7,000-10,000 bitcoins per day, 50,000 - 70,000 per week, 200,000 - 280,000 per month. This creates a lot of supply which, if not absorbed by buyers of bitcoins results in a lot of technical overhead pressure on BTC/fiat currencies.
On the other hand, for a completely decentralized "fiat" currency, attracting 160K~224K inflow per month -- like in the past few months -- is quite remarkable. There are no rich people competing to hoard BTC, which is a healthy thing at this stage. The trading volume shows this is still a very thin market but that can change on a dime any time. Yeah, it's been surprising to watch it all unfold. It never really was destined to last. Still, I would contest the assumption that there are no wealthy players involved in Bitcoin. All that we can really say is that no wealthy players have invested excessively in Bitcoin.
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Stopping at 8 connections implies that inbound connections are being rejected. If all you did was add the wifi router into the mix, it's probably configured by default to deny incoming connections on unknown ports.
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The problem with figuring out the Powers That Be and their MO is that all the information is really spread out. Figuring out just how Monsanto, the gov't, and the mass media work together is a difficult problem. The best summary I've found is "What You've Been Missing" - http://www.youtube.com/watch?v=-SD5-xfbcJIThat assumes that there is collusion, when there isn't a need for it. The stand-alone complex theory is more likely.
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A couple examples of microtransaction-based services: Torrent Traveler: You upload a torrent file and Torrent traveler will retrieve the download for you. When the torrent download has completed, you then can pay $0.25 (per GB) to retrieve the download over the web: http://torrenttraveler.com/avpzaqvbpxgz4rukk3cgqoxvfThis is a service I would probably pay for today - especially if the downloaded torrents could just be mailed to me on DVD-R. Some of us don't have the bandwidth to spare - or our usage is metered in such a way that it would cost more than $0.25/GB just to download whatever it was. DVD-R's are a pain in the ass. What about a mailable USB drive with return postage and an address label? I can see a usage based opp here for some teen with cheap bandwidth.
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Basically, if you are smart and capable of independent critical thinking you are a "domestic terrorist". As simple as that.
Hasn't every group ever in power hated those people? Yes, for no other reason that before they were in power, they were those people. And more of those people are the greatest threat to (now their) status quo.
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It's still something to consider, as this is one attack avenue I don't think that I've seen discussed on this forum before.
Remember the Mystery Miner? Are you implying that the 'Mystery Miner' was such an exploit? How might this harm the network. or introduce another fraud vector?
Well, there's that double-spend vector that keeps getting kicked about. Also... Okay, so how would this attack vector aid in a double spend fraud? It would shake out small miners...
...which could lead to a person eventually taking control of over 50% of the network with computing power equal to a value less than 50% of the network's power at the time of the attack's commencement. How?
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My opinion is that this price drop is due to the inefficiency of exchanges to serve the demand for a longer time span, particularly MtGox.
I have seen people wanting to invest in EUR, and their bank transfers being delayed for a week now because the exchange relies on a single person. Liberty Reserve was down a few days. If you have a look at the marketplace forum and #bitcoin-otc channel, you will see many people explicitely buying MtGoxUSD which seems to confirm my statement.
I don’t think the MtGox price reflects the "true" market price at all because it’s so difficult to get money in.
This is the issue with relying upon a marketplace that represents a minority of the trade in question, but as far as I know, the MtGox spot price is the best metric of this kind that we have. Getting funds into and out of such markets have always been a limiting factor.
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I think most people would argue that without an enforcer of last resort (i.e., the State, or a Leviathan, if you will) we would be forced to act as relative-gains maximizers even in otherwise benign interactions.
I don't know what you mean by relative-gains maximizers, nor why people would be forced to act as "relative-gains maximizers", nor do I know why relative-gains maximizing is necessarily a bad thing. I think that he was talking about my post concerning a collective defense of a true anarchist society. The problem being that those people or groups with the greatest resources to contribute to the collective defense against a foreign threat also are the most mobile among society, and as such, their own greatest-self-interests are unlikely to lie with the collective defenses, but rather with flight and re-establishment elsewhere. Leaving the anarchist society gutted of capacity (relative to it's prior state) and only the lower classes to it's defense, and only because they were those who did not have the capacity to vacate before the invading hordes. Think Katrina with an invading army.
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Bitcoin miner hosting opprotunities.
Oh yes! You're right. In fact, I was really considering creating some kind of "computing farm". Hmm, Would you have space, and electric heating needs, to accomodate a server rack? If you could afford to build such a system, you would have already done so; but there might be major mining groups on this forum willing to partner.
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Good, it seems like everytime I get a little worried there's a fix built in to the system.
Yeah, same here. The more I learn about bitcoin, the more brilliant I think it is. Yeah it still worries me a little because I feel like it's impossible to have thought of everything. Even if this were a realistic exploit, the difficulty has an adjustment rule that prohibits an adjustment of greater than a factor of four in either direction. So the difficulty couldn't be cut down to less than a quarter of the prior difficulty. It's still something to consider, as this is one attack avenue I don't think that I've seen discussed on this forum before. But before we consider how difficult the attack vector may be, we need to determine what the goal would be. If the goal is simply to spoof the difficulty calculations in order to make it easier to capture some blocks in a short period of time, (perhaps someone decided to buy a couple of hours of mining capacity on Amazon's cloud?) then really no great harm done, and if such things were to become an ongoing thing, a tighter difficulty adjustment parameter could undercut such activities. However, if the goal was to actually harm the network in some fashion, the impracticality of the attack may not be a great defense. How might this harm the network. or introduce another fraud vector? thoughts?
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Ukraine. As far as I know, currently electricity costs $0.035/kW*h. Plans are to increase it up to $0.084 over time. That's if your house is connected to a gas pipeline. If you have to use electricity to cook food and boil water, prices are like 3 times lower.
Bitcoin miner hosting opprotunities.
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Not sure if I read it right but say someone wanted to send another person 20 BTC. If transaction fees occur where does it come from. Would the person get 19.99 BTC or would 20.01 BTC come from the senders account?
The latter.
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It's frustrating and a little frightening to imagine what things will look like when the sh*t hits the fan. ![Undecided](https://bitcointalk.org/Smileys/default/undecided.gif) No need to imagine, just look at the periphery of the empire. The collapse has begun Honestly, looking in the rear view mirror, one can see signs of a breakdown of an empire as far back as 1970. And the same could be said for the USSR as far back as 1955. The problem of a collapsing empire is that it takes quite a long time, and there is no reason to suspect that the modern world will be significantly quicker at such things than the Roman or Ottoman empires. The risks are in the transitional periods anyway, at least to the individual. Clans will fare better, as happened to Roman enclaves as the Roman empire imploded. The small independently functioning regions loyal to Rome preserved the culture for generations longer, functioning as city-states.
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Where can I trade Bitcoins for Crude oil?
Nowhere. Even Europeans have to buy oil inUS$ due to the Bretton Woods Treaty. The Russians & Chinese would buy/sell oil in gold or their own currencies in a heartbeat if that wouldn't get them sideways with the US fed. The Chinese and Russian DO buy it with their own currencies now, they signed a treaty a few months back that took that U.S. out as the reserve currency. That's one of the major reasons for the U.S. going to so many wars lately, they're trying to keep there position of power over the world, but since up to 50% of earth no longer accepts U.S. currencies (including large parts of the U.S.) their already toast. Even that only applies to direct trade of crude between Russia and China. Which, admittedly, is a pretty large market; but by itself is not a game-changing event.
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But drugs are a revenue stream?
Not an official one.
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