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I think there is a lot of merit to this idea. One problem though would be carrying two devices around (phone and bitcoin wallet device). Very interesting though...
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Yes, bitcoinlaundry.com sounds interesting. When you wish to conduct a transaction that you'd prefer to be more private simply pay the bill through this account. From what I've read elsewhere the more people that use this service the less likely you are to receive the same coins back. Maybe we should start sending more payments through here - even if it's just to help others mix up their coins. Would that work or would it be too easy to match the amounts paid in and the amounts paid out?
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Someone needs to fire up Tor/I2P/etc and make a "Coin Wash" site.
Someone sends in an arbitrary amount of BTC along with multiple new addresses. The BTC that go in are broken into randomly-sized portions and sent to the new addresses at random intervals, interleaved with other transactions (minus a fee of course). If multiple coin washers existed they could also send coins to each other with instructions to forward. If such nodes also ran their own private testnet of sorts (zero fee) and sent mountains of arbitrary transactions with the right format it could be quite difficult even for even the ISP to sort the real transactions from the fake (see: chaffing and winnowing).
I think the above should be sufficient to beat analysis-based attacks, using Tor or I2P beefs up protection against analysis a bit more and I trust that the security already bundled in the bitcoin client should cover the rest.
Have I missed anything?
Sounds like a great idea although I'm not a techie. |
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I assume everyone has a computer and would think to plug it in and see what is on it. (I always do, if its not empty, I'll try to find some kind of info on it to return it to its rightful owner.)
I wouldn't normally engrave anything on my electronics because I think its tacky, but in this case I'm going to... As soon as I get to my friends gift shop, I'll get the outer body of my Ironkey engraved with my contact information.
You may not want to do this. I read somewhere that it is a common strategy for snoops to drop malware-loaded thumb-drives in corporate parking lots with the hope that someone plugs it into a machine - instantly infecting the machine. |
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The irony of waiting on Dwolla USD-based transactions in order to convert into Bitcoins is not lost on me.
Simply by using current online payment systems, one should readily see how superior the coin is. I send my friend in another country money via Bitcoin... 5 min delay. I send myself money from my own bank in my own state to my own account via USD... 3 days. It is faster for me to drive to Canada to pay someone there with cash than it is to wire the money directly to that person's bank. Absurd. Markets do not long tolerate such inefficiencies when alternatives exist.
As Victor Hugo presciently stated, "On résiste à l'invasion des armées; on ne résiste pas à l'invasion des idées."
+1 Yes, I love the ease of bitcoin and hate the hassle of traditional banking.  |
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@cypherdoc: Yes, I too was amazed to see the the USD and Treasuries soar while gold and silver plummeted during the '08 crisis but the next time around (as alluded to in the article) it would be the dollar itself that gets broken. It wouldn't be its' own "safe-haven".
I see how there could be demand for physical dollars but the reason there would be a demand is so that people could get out of them and convert them into a stronger currency. So what I see, in the scenario described in the article, is that the physical dollar would still drop against all other currencies (otherwise there wouldn't be a bank run in the first place) but the digital dollars would drop dramatically more in value.
A recent example is Argentina during the debt default of 2000. The peso lost 60% +/- against the dollar. There was still a huge demand for physical pesos but the banks simply closed while the value of the peso continued to drop. Physical cash virtually disappeared and people had to resort to barter if they didn't have US dollars or pesos to trade with.
So this time around the dollar wouldn't be the "safe haven", it would be what everyone is trying to get out of. Because of this I can see bitcoin and precious metals rising significantly as the new "barterable items of choice" since most Americans don't hold other currencies (at least in Argentina a lot of people held US dollars). But I could be missing something.
The following articles illustrate this point: A Run on the United States Government http://lewrockwell.com/rozeff/rozeff359.htmland John Williams Exclusive - US Dollar Selling and Hyperinflation http://preview.tinyurl.com/5wxbger |
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Wow. Consider me in! TraderSteve - what kind of markup do you charge? Also, if we're looking to unload a bit of bullion, do you take orders the 'other way around?' Do you have a GoldMoney account? Thanks in advance - you definitely have my interest!
Hi cvicisso, Our mark-ups are competitive with the most popular products being 3% to 5%. I only trade bullion for bitcoin. I don't have a GoldMoney account because I don't want to jump through their silly requirements for opening an account  That's one reason why I like bitcoin better than GoldMoney. To get a quote to buy just submit a Trade Request on the website. Thanks, Trader Steve http://www.GoldStarBullion.com |
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Let's just say I like freedom. |
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There are 35 million deaths caused by famine every year under capitalism. 17 million people every year die because of obesity. There are 850 million people suffering severy hunger, there are more than 1000 million obeses.
There are no true capitalist countries. Every country is screwed up to some degree by central planners who think they know what is best for the rest of us. Who are these angels that are "all wise" and "all knowing"? They don't exist. They are simply humans like the rest of us except they are protected from accountability by armies and ignorant people who believe in the myth of external authority. |
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Dear OP- i only need to be born and die
Yes, interesting how some people like to tell other people what to do with their money. With that said, I consider the OP's point as just a suggestion and I will take it under consideration. |
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