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6961  Economy / Goods / Re: Market Testing on: May 08, 2014, 10:46:02 PM
Curious as to peoples feelings on this as I have recently purchased some unloaded .999 Pure Silver BTC as Novelty Bullion.

I own one and I really like it, but you need to make it very clear that these silver rounds have nothing to do with Bitcoin except for the art. Your posts are a little misleading. They are not "Silver BTC". They are not "silver bullion bitcoins". They are not "silver bitcoins".

They are not unloaded physical bitcoins because you can't load them. They do not and can not have a fixed BTC value.

6962  Economy / Economics / Re: Could take 5-8 years to shrink Fed portfolio: Yellen on: May 08, 2014, 10:35:44 PM
She lost any respect I might have had for her with this:

Quote
Yellen ... stressed that excessively low inflation drags on economic growth.
6963  Economy / Service Discussion / Re: LocalBitcoins Hacked! Another MtGox in the Making? on: May 08, 2014, 09:30:49 PM
Quote
The good news out of this is that they also reported that the hackers did not get away with any users’ data or bitcoins!
6964  Bitcoin / Bitcoin Discussion / Re: The new BitID Authentication System on: May 08, 2014, 01:09:50 AM
It creates another system that needs to access your private key. But this means the authentication mechanism needs to access my private key. 

Nobody has access to the private key except your wallet.

I don't understand the point of this at all when it takes all of 1 minute to create a blockchain account which you can use solely for identification purposes if you wish.

The point is that you don't have to set up another wallet and your don't have to type anything in.

Code:
USERNAME [ franky1 ]
using your registered address to sign the MESSAGE and paste the signature below
MESSAGE [ franky1 wishes to log into this zone at 01:06AM on the 8th of May G0b3ldiG00p ]
Signature [ sflskdjflaskj;laskjf;aslkdfj;slkdjf;asdkhjgjdrttjfgdfsrgffdgsfgjfgsdff;asldkfj;sldlkf;a= ]

My guess is that that is exactly how it works.
6965  Economy / Securities / Re: [BTC-TC] Deprived Mining Speculation (DMS) on: May 07, 2014, 11:14:32 PM
This guy has lost contact with reality or is just shitting all over us from the start
He's doing the same stalling tactics that Pirate, Ukyo, Nefario, Ken Slaughter and many others have done.  The goal is to get people to forget about the whole thing and continually put off other investigations/legal action.  At least he's not threatening to withhold deposits from the troublemakers!
The big difference is here is that everyone knows that the funds aren't lost/gambled away/etc - we can see that the 150BTC is still held here: https://blockchain.info/address/1CzJY7pVkCqDjUtycHzFgeTTbbWokqYuXo
Yes, this is a stalling tactic of some sort, however.

I don't think it is a stalling tactic -- it is a mess, just as Deprived described it. Don't forget there are also 260 BTC worth of Ciphermine bonds (plus unpaid interest) to deal with.
6966  Other / Beginners & Help / Re: Why does bitcoin use public keys as pseudonyms? on: May 07, 2014, 08:00:12 PM
Attaching a name to a public key requires an additional step and some kind of registration system. Bitcoin doesn't bother, but it can be done outside of the Bitcoin protocol. There are already sites that support giving names to addresses, such as blockchain.info and bit.co.in.
6967  Other / Beginners & Help / Re: Low risk steady returns investment fund idea on: May 07, 2014, 05:19:03 PM
You need to be able to prove that you are not setting up a Ponzi scheme. Claiming a "steady" 10% return with low risk is suspicious.

There is no way to distinguish you from a Ponzi scheme without providing detailed information about your investments, and so far you have provided none at all. Lack of transparency is suspicious.
6968  Other / Beginners & Help / Re: exploring wallet.dat on: May 06, 2014, 09:14:04 PM
With cold storage, you store the private key somewhere safe -- usually it is printed on a piece of paper, but the tungsten bar is an interesting idea. It is never stored in any wallet on any computer or device connected to the internet.

In order to send bitcoins to the cold storage, you send them to the bitcoin address corresponding to the private key. The bitcoin address can be stored anywhere.

To view the amount of BTC stored in the cold storage, you can enter the bitcoin address into blockchain.info (or other similar sites). Some wallets have "read-only" addresses. This is an address with no private key and is used only to monitor the bitcoins stored there.
6969  Economy / Trading Discussion / Re: Invoice in Bitcoin - How to Agree on Exchange Rate? on: May 06, 2014, 07:20:44 PM
There really needs to be a more mature way to establish the GLOBAL value of Bitcoin.

There is no such thing as a "GLOBAL value of Bitcoin". It is not possible if different people are willing to buy and sell it for different prices. There is no such thing as a global value of anything.
6970  Economy / Trading Discussion / Re: Invoice in Bitcoin - How to Agree on Exchange Rate? on: May 06, 2014, 03:53:28 PM
If you allow payment in BTC, then don't state an amount in BTC. Instead, state that payment is allowed in BTC using the the exchange rate at the time of payment.
6971  Other / Beginners & Help / Re: Cheapest way to get money from bitcoin on: May 06, 2014, 03:17:22 PM
I would say localbitcoins is a great site, they have loads of features.

Localbitcoins is mentioned here several times, anyone here have successful transactions with it? Great to hear from those who experienced using the site.

I have used Localbitcoins quite a lot. As a buyer, there is very little risk if you use the site's escrow and you deal with reputable people.
6972  Bitcoin / Mining speculation / Re: Collection and comparison of difficulty prediction on: May 06, 2014, 05:19:32 AM
market-based long term: https://www.havelockinvestments.com/fund.php?symbol=B.MINE
6973  Bitcoin / Bitcoin Discussion / Re: It costs a lot to transfer BTC>USD USD>BTC on: May 06, 2014, 04:30:56 AM
Yeah, it costs an outrageous amount of money to send USD to someone. Bitcoin has a huge advantage.
6974  Other / Beginners & Help / Re: Kickstart on: May 05, 2014, 11:24:03 PM
Ok, I've been into btc for some time now and it's still going very slow. I'm from Serbia and I'm in college now and don't really have time for work since this is the final month before the exams. I've investen all of my btc in GH/s at CEX.IO and I have about 0.45GH/s very slow about 0.02 mBTC per day. Average salary in Serbia is about 350e, and I don't won't to make a living from btc, but to have it like a pocket money or just to cover some bills for rent and school. So I'm asking if someone is willing to help with a donation, GH/s vouchers, btc or some altcc. It would be very helpfull.

Also, I dont have some mining rig for btc, I'm mining with an integrated gpu, so it's not something great. I'm mining doge and I run at at a spare time, over the night or so and I've noticed that when I put -i 14, it mines less then then its -i 10. What can be the cause or is it just a coincidence? I'm running cgminer 3.7.2.

Any tips or suggestions, feedback would be helpfull. May the sun guide you.

Welcome to Bitcointalk!

The best thing you can do is to cash out your cex.io shares. You will never mine enough to compensate for the drop in price. The price has dropped more than 30% in the last month. How much have you mined?

Oh, and please don't beg. Bitcoin beggars are losers.
6975  Other / Beginners & Help / Re: Basic questions after first purchase on: May 05, 2014, 11:12:38 PM
...
2) On blockchain I have a catchphrase, identifier, and address.  Do I need to make damn sure I don't lose any of these, which can you lose and be okay?

It is important to back up your Blockchain.info wallet. If Blockchain.info goes away and you haven't backed up your wallet, you will lose your bitcoins. They give you several ways to do it. Choose one.

You also need to save your identifier and password. You need those to access your wallet.

Blockchain also gives you other information that you can use to recover your wallet in case they go away. It is important to save that information.

Unlike other sites, Blockchain.info does not have access to your wallet. They only store it for you in encrypted form.

Other sites talk about "your wallet", but it isn't really your wallet -- it is their wallet. They hold your bitcoins for you (along with everyone else's bitcoins) in their wallet.
6976  Bitcoin / Bitcoin Discussion / Re: Why Eve Online's economist thinks bitcoin could be a scam on: May 05, 2014, 10:42:25 PM
While I can't see how anyone could be calling Bitcoin a "scam", the fact is that Satoshi's premine does exist and now we have the feds with their own massive hoard taken from the SR bust. It cannot be ignored that either one of these groups could cause some serious disruptions to the exchange rate depending on if/when/how they cash out.

In 2011, the exchange rate dropped 90% and Bitcoin is still here. In 2013, the exchange rate dropped 60% and Bitcoin is still here. Recently, the exchange rate has dropped about 60% and Bitcoin is still going strong.

I don't think Bitcoin really gives a crap about the exchange rate.
6977  Other / Beginners & Help / Re: How am I saving by sending via Bitcoin? on: May 04, 2014, 02:38:44 AM
The cost of exchanging fiat currency is generally 5% or higher, depending where you do the exchange, so let's say it's $10. Your total cost of sending $200 via WU is $19.


In the Bitcoin case, let's say you buy $200 worth of bitcoins from Coinbase. That will cost you 1% plus $.15, or $2.15. Buying through Localbitcoins is probably more expensive, but why pay more? Sending the BTC will cost less than a penny. Let's assume that the person you are sending to uses Localbitcoins to sell the BTC. It might cost him 5% or $10.00. The total is $12.15.


Lets compare: WU costs $19. Bitcoin costs $12.15.

6978  Economy / Economics / Re: increase btc without mining fairly on: May 04, 2014, 02:18:50 AM
are there any good fair ways to increase your BTC's without mining.

To get the answer to your question, please replace the word "BTC's" with "gold" or "dollars". Then you will know the answer.
6979  Economy / Economics / Re: Bitcoin volatility actually GOOD for business! (with proof) on: May 04, 2014, 01:03:51 AM
While you are right that the rational merchant who accepts Bitcoin will wait for "highs" to sell the Bitcoin for fiat,...

Waiting for a high to sell is not rational, it is speculative.
6980  Other / Beginners & Help / Re: Im a beginner. on: May 02, 2014, 09:40:50 PM
If you are new to Bitcoin, don't mine.
If you are new to trading, don't trade bitcoins.

Instead try to learn first by reading on the topics as much as possible, then by trying out with small amounts. You will make mistakes and learn from them.
I even suggest to mine bitcoin. Not for the profit, but to help on your understanding. It is also fun.

I think that my advice is just as good as yours. I didn't include a lot of explanation because I figure it would be ignored anyway. The few newbies that are interested in mining and trading in order to learn something should follow your advice. But most newbies want to mine and/or trade because they think they can make a lot of money, and those newbies should follow my advice.
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