Simplest way to stash bitcoin - don't do it!
Bitcoins are ment to be spent! All this hoarding does nothing for the bitcoin economy.
If everyone just stashed bitcoins away forever, do you know what bitcoins would be worth once you did take them out again - squat.
You may be dead in 10 years - and all that investment in bitcoin will vanish with your squishy brain wallet.
Buy some alpaca socks and enjoy your bitcoins today.
One day, when a super-quantum computer cracks the encryption to all of the bitcoin addresses in 5 minutes, and everyone cries about their lost coins, you will have warm and comfy feet.
This advise applies to hoarding of all monies - including precious metals (I heard that there is enough gold in the earth's core to cover the earth with 1 meter deep of gold).
Happiness is the only thing you should hoard.
Yep, spend spend spend. Even when your brain and your heart are telling you not to. Even when it hurts. Spend spend. After all, it's the way all the economies of the world have been run recently and look at how well they're doing. |
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This might be a personal animosity but "Fixed that for you" is slowly becoming an issue in this forum. Miss-quoting people without even bothering to mark the changes gets me slightly mad.
 ftfy Ironically, the text I changed would have been easily marked to indicate the change (and normally I would but I was being lazy) but the image change, not so much. |
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This might be a personal animosity but "Fixed that for you" is slowly becoming an issue in this forum. Miss-quoting people without even bothering to mark the changes gets me slightly mad.
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But you said Al-Qaeda were our friends.....
I don't recall ever saying that. I have stated in the past that it's possible they exist only on paper... I believe the current conspiracy theory is that Al-quaeda transalates as "The Base" and refers to an CIA database of friendly operatives back when we were supporting these chaps (if we still aren't in some convoluted fashion). |
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Hi,
I was hoping that it wouldn't come to this, but having sold more than 550BTC in under a week at an average price of just under £6.80 my stocks have run low. I have transferred money to the exchanges, but I am waiting for it to clear. More stock should be available before the end of the week.
I'd like to say a big thank you to all the customers who have dealt with me so far. I have not had any real issues, just a couple of minor crossed wires that were easily resolved.
I will update the thread when more BTC are available.
Thanks again
I would say that maybe you're selling too cheap but I hope to buy some more again soon  |
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False. This would be true if "privatized" meant "private monopoly", but it does not.
Try the following exercise: take a map of the US interstate system. Imagine that, instead of being government-run, it was owned and run by a private operator. Explain how you would build a competing long-distance road network, remembering that since all those roads are privately owned you need the permission of the owner to build anything that crosses them them. What makes you think we'd be driving cars or, better, need to be driving cars on such a system if the market was working? Cheap road use provides a perverse incentive. |
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BTC born at a time when people all over the world are eager to save more after financial crisis, so it is right on the spot. Currently people are still save in USD since they feel it is still backed by the most powerful country in the world, but sooner or later they will realize that BTC is better than USD.
Fixed that for you. |
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I just remember one thing. Usually the bitcoins can be found in the .bitcoin folder. I think that may become a problem as malicious programs may want to steal my wallet. I really don't have a solution to this yet...
If I use another program it may be stored somewhere else. I would like to have an option to select manually where my bitcoin settings folder is so that malware can't use that technique to find my bitcoin settings folder. Any other way?
Otherwise I'll have to trust ALL software on my computer to not try stealing my wallet in my .bitcoin/.multibit folders. I'll be forced to use the encryption feature in Bitcoin then and I am also forced to make up and remember a passphrase. Argh.
It is open source so you may modify it how you wish. However, if the main client was modified to make the wallet location definable or random, it would have to somehow store that location so it could find the wallet again and any mal-ware would easily be able to find and use that information. The hardware wallet I'm working on might help with what you're wanting to do. |
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Well, you can divide a cent into still smaller units.
And in fact this has often happened in the past.
The only requirement is that it is sufficiently divisable to be usefull.
You should see the word 'divisable' from your own point of view. Is the currency divisable enough for you to use it in the current economy.
It is not nessesary that it is finely grained (like bitcoin).
Sure. I guess I'm just hung up of "fractional base unit". |
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In a deflation world when everyone tries to hoard USD, I don't see the benefit of BTC, but in an inflation world, BTC might gain some ground as a hedge for inflation
After financial crisis, everyone is still trying to save. When they put saving in action, the money supply need to be magnitudes higher than normal volume for transaction purpose
The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings. |
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- Divisibility - fractional base unit
This one makes no sense to me. You just define the base unit as the minimal fractional base unit (so the cent instead of the dollar etc). If your currency is infinitely sub-divisible then it's pretty much a null statement. In short, your currency is either infinitely divisible or it's not. You keep forgetting that these rules are about practicality. Bitcoin is far more finely dividable than any currency ever in existance. There is no requirement for divisibility beyond usability. It's probably more about the wording than the implementation. "Fractional base unit" seems to imply things that are irrelevant to the point. I get the idea, I just think it should be worded differently. Let's say for a second that The Satoshi was the base unit and not the BTC and that the bitcoin protocol was immutable such that it could not be more finely divided. The Satoshi is still such a small unit (currently) that it would be a useful currency. Alternately, let's say the dollar deflated massively (lol) such that a dollar would buy you a mansion. There is still the fractional base unit of a cent but what could you use to buy a loaf of bread? The requirement should probably be "Fine gradations of value" or something similar. |
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Absolutely  The primary use of the card is to allow secure storage of the private key and on-card signing of transactions. In theory, it would be impossible to obtain the private key from the card without extremely sophisticated techniques (though this does raise some questions about private key backups). Secondarily, the card may be use to cache transactions known to belong to the private key (keeping a balance if you will). This should not, strictly speaking, be a requirement but will be more of a convenience function. Most of the functionality will still be in software running on an external computer except for the addition of a usb broker dongle to act as a gatekeeper for approving transactions. |
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Can some kind admin change WilliamH's username to "tl;dr" please?
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- Divisibility - fractional base unit
This one makes no sense to me. You just define the base unit as the minimal fractional base unit (so the cent instead of the dollar etc). If your currency is infinitely sub-divisible then it's pretty much a null statement. In short, your currency is either infinitely divisible or it's not. |
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Diffie does make some dumb arguments, but his point we should try to secure just keys, not whole infrastructure,is sound. And your proposal to distribute special routers, just proves it. You seriously think that having one router per every secured "sub-internet" is cheap and easy to use idea? And as long as the computer behind the router is vulnerable or user doesn't know how to secure his/her passwords/keys, routers solve nothing.
My router cost $20 and is far more capable than what would be needed for what I was suggesting. Note that I wasn't saying much more than that a separate network does not necessarily require completely new infrastructure from the ground up. You seem to be interpreting my comments to be deeper ad mean more than what they are at face. |
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once you've got the app running on the card, why not put it in the nfc chip in a mobile phone ?
Totally different use case. |
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The proposed mechanism of both seems to be:
Give more money to those who already have money in the hope that they then pass it on to those without money.
Indeed. Anyone who is anti-big-corporation and is rooting for Obama needs their bumps read. Similarly for tea-partiers and Romney.Oh yea definitely, this is not supposed to be a pro-Romney thread. I know. But there's some out there that think that if you're criticising one, you're rooting for the other. |
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29btc bought. Good, rapid trade.
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don't sell too much
Sell? I'm looking to buy. |
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