A number of people mentioned recursive hashing. I was wondering about that. Is there really any point to it? Sure, it adds entropy, but why not just add the entropy to the key directly? Instead of hashing the key ten thousand times, why not why not add an extra random word or two? In both cases, the attacker will have to do tons of extra hashing, but in the latter case you won't.
You can also do multiple rounds. You can make a brain wallet, hash it with sha512, then hash the result with sha256 (maybe multiple rounds). If you know what you are doing and remember all that it should fine. For new users just do the Armory thing and back up the wallet keys. Yeah, but what's the point? I get it that the idea is to increase the amount of information an attacker will have to guess in order to compromise the key, but adding more words to the key has the same effect, doesn't it? It reminds me of that correct horse battery staple thing. Adding a complicated hashing algorithm will make it more difficult for you to access your coins when you want to, and it won't necessarily be more secure than simply adding more to your key would be. |
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A number of people mentioned recursive hashing. I was wondering about that. Is there really any point to it? Sure, it adds entropy, but why not just add the entropy to the key directly? Instead of hashing the key ten thousand times, why not why not add an extra random word or two? In both cases, the attacker will have to do tons of extra hashing, but in the latter case you won't.
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Make sure you keep plenty of backups in a variety of mediums, and that you keep those backups safe. I wouldn't trust usb sticks, they tend to quit working unexpectedly. A paper wallet might be better if you have a good place to store it.
If I was your age, I'd be worried about my family accidentally overwriting my usb drives or throwing out my paper wallets...
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Hi, thanks for offering this service. I've been looking for a way to use bitcoin to remit some money to my relatives in Taiwan for some time now.
However, I have one problem. Because I filled out the seller's form in English, it gives my bank as "Bank of Taiwan" in English. All the other ads have the name of the bank in Chinese.
I'm concerned that some buyers might not be familiar with the English bank names, so this would put me at a disadvantage. In the future, could you program the site to display the bank name in the buyer's language, and not the seller's? And in the mean time, would it be possible to get the bank name on my listing changed to Chinese?
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Or blockchain.info's "My Wallet".
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The same thing just happened to me today. They didn't send me a letter, but when they called me and asked me about the number of out-of-state deposits in my account, they told me they have a policy against bitcoin and closed my accounts.
And this happened with U.S. Bank?  Yep. |
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The same thing just happened to me today. They didn't send me a letter, but when they called me and asked me about the number of out-of-state deposits in my account, they told me they have a policy against bitcoin and closed my accounts.
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Looks like I've drifted quite a ways to the right since the last time I took that test.
On the way to becoming a fascist! What will your left wing friends think! Sorry people, but this left/right thing is bunk. It doesn't mean anything. Heh, no, I'm still libertarian as ever. It just took me awhile to realize that economic freedom is just as important as social freedom. It is kind of surreal that many of the arguments that make me head-desk now are the exact same ones I've used in the past. And yes, the left/right thing really makes me rage when I see an argument that amounts to "The other side wants that, so it must be bad!" |
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Looks like I've drifted quite a ways to the right since the last time I took that test.
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Which is exactly what I meant by this distorting market signals for which jobs are more important. And yes, this would cause prices to rise, whether due to inflation or not. A basic caffe that had, let's say, one waiter, one cook, and one janitor, will unlikely lower the wages for the cook and the waiter, but will now have to raise wages to be able to hire janitors. Total costs go up, price of products has to go up for them to stay in business, too. I'm not entirely sure how such a system will find equilibrium though. Is everyone having more money mean that each unit of money is now worth less? Or, since the money is coming more from those who are actually able to earn it, and the total remains the same, does it mean that each unit of money will be worth the same, but at an enormous expense to the people and organizations that are actually able to earn it? And if it's the later, will them increasing prices to compensate just end up making the extra stipen not really be able to pay for anything anyway? Wouldn't it simply be an artificial reduction in the supply of janitorial work? Not economically ideal, but the market can adapt to it the same way it adapts to a sudden shortage of some raw material. I say not economically ideal, but that's overlooking any positive externalities it would have by improving the morale of the society. Only one thing makes me hesitate to support it wholeheartedly: the dilemma of citizens vs non-citizens. Giving the basic income to citizens only would mean that their gain comes at the expense of non-citizens, both immigrants and tourists. Giving it to everyone could lead to complications of its own. |
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Good point, I didn't think of it that way.
So, I suppose having a basic income basically means artificially reducing the supply of "bad" jobs. Slightly short of economically optimal, but far better than the bureaucratic mess that is our current welfare system. Might even lead to some positive externalities.
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But the low wage still signals to potential employees that the supply of labor for that particulat type of job is too high, and thus they would be better off educating or specializing themselves into a field that is in higher demand in that economy. If there are too few people who can do surgery or programming, and plenty of people who can do janitoreal work, the wages reflect that, and people strive to get into the higher paying jobs, until that job market gets saturated (it has enough workers to satisfy demand), at which point they distribute to other jobs that are in demand. If both of those jobs pay nearly the same, or even if the difference in wage is not as high as it would be in a "natural" state, people may either believe that surgeons/programmers aren't in as high demand as they really are, or that janitors are in a much higher demand than they are. This will cause high unemployment among janitors (too many people seeking too few such easy jobs), and a shortage of skilled labor (too few people looking for such a position, and pay difference is not high enough to compensate for the vastly increased level of skill required). A basic income is unconditional. Each Swiss citizen would get the same 2500 francs regardless of employment status, in addition to what they make at their job. In absolute terms, the difference between what a programmer and a janitor makes would be the same, except the baseline would be 2500 rather than 0. I suppose you could make the argument that, as a percentage of total income, the difference in salary has been reduced, but that shouldn't be a problem unless the basic income is ridiculously high. |
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I'd rather have a basic income than the bureaucratic mess of social programs we have today. I understand the arguments against social spending, but if you have to have it, a basic income seems the way to go. At least that way, you take away the perverse incentives and the cost of "means testing".
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Ok, that explains it, thanks.
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I must be missing something. As far as I can tell, there's nothing to explain this on the front page of the speculation or service discussion forums. Searching for "mtgox" just brings up old threads complaining about old problems.
If I look deep, I can see a couple of 1-2 post threads complaining about minor issues with the exchanges. I really don't see what gigantic news break I'm supposed to be seeing. It seems to me everyone's too busy talking about Silk Road.
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At the time of this writing, MtGox is at 137.89108, Btc-e is at 123.708, amd bitstamp is at 127.16.
What gives? In my experience the prices on the various exchanges are usually pretty close. What's causing them to be so far apart? It's too bad I don't have the liquidity to arbitrage right now...
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I've been working as a web developer for about a year now. I'm still learning somewhat, but I have a few successful projects under my belt. Pm me if you want references.
I'm familiar with bitcoin and related technology.
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Sorry, I'll try to be a little more careful in my phrasing, I guess. But that's not going to solve my problem.
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Thanks for all the (serious) responses. blockchain.info -> Print I suppose that might be worth a try. But then I'd have to explain what bitcoin is and how to determine its market value. Sending an officer on a research project doesn't strike me as the best way to put them in good humor. sell bitcoins, get a statement of bank account then buy them back again? ;-) Possible, but I'd lose out on commissions and fees. would be similiar to shares It's not for a loan, per se. It seems i have to create the Gabi Certified Bitcoin Networth GCBN, the authority wich will officially certify your bitcoin networth Cheesy It would be nice if someone did. |
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