The answer is "no." If Bitcoin conflicts with AML/KYC laws, then those laws have to go. They are dragging down the non-bitcoin financial system for the same reasons they are not acceptable to Bitcoin users.

Money tainting hurts fungibility. Without fungibility, you don't have money. "Know your customer" means that you lose a lot a privacy even in the traditional banking system. With Bitcoin, the transaction record is public. "knowing your customer" means killing pseudonymity (and privacy).

A black-list Black-list still hurts fungibility, which will destroy the currency. A black list may do more damage than a successful 51% attack.


I like this idea. Would require a lot of user education so they can understand why their transactions are not confirming. Would make asking for donations harder, but maybe that is a good thing.

Edit: "Why is funding my brain-wallet taking so long?"
"Because your passphrase is not as unique as you think it is."

Bitcoin exposes how stupid those regulations are. I fully expect KYC/AML to be repealed. I also suspect at least a few governments will try to ban Bitcoin first.

For Capitalism to exist the threat of violence must be used to enforce property rights. Those producers pilfer the commons and keep any profit for themselves.

There is probably a better thread to debate this in though.

I recommend using a log graph for predictions like that.


Now that I had sleep, I realize that I was advocating a volatility evening strategy mentioned in another thread. In that strategy, you have a "purse" of 50:50 Bitcoin and another asset. As the price moves, you try to keep the exposure to both assets the same.

The difficulty with that strategy is that it assumes no or even price growth. Obviously that is not a valid assumption. To make money off the rise in value, you need a second "purse" (in cold-storage), where you simply buy and hold.

Why panic?

If you think the price is going to rise very quickly, the logical thing to do is hold, or even sell a portion of your holdings.

When the price rises very quickly, there is always a very real possibility of an overshoot and retrace. When that happens, you buy (causing a bounce) or hold (don't catch a falling knife).

The difficulty is the above advice is all about using your judgement. Nobody knows exactly what will happen next.

Edit: I need sleep. I will echo the advice in another thread and suggest everyone do the same.

If you can not classify yourself as male or female, you do not know your gender at birth. Perhaps dree12 wants people's assigned gender at birth.

Spam-bots were mentioned: Truly autonomous software agents are likely to be genderless as well (and be in the 0-9 year category)

PayPal and Bitcoin do not mix.

One has irreversible transactions, the other says the merchant may never get paid in the Terms of Service.

They have those rules in place to prevent social engineering.

People would be irate if two-factor authentication could be side-stepped with a story such as this.

OP: even if you know the e-mail address, how are you going to log in without the password? BTC-E seems to recommend G-mail if that helps at all. Edit: I see that info is in the chat-log.

She is talking USD, not BTC.

If you want a increase your USD holdings by 20% per month, I suggest buying and holding BTC. The longer you hold, the less likely you are going to lose everything in a dip (assuming BTC is here to stay, that is). Back in 2011 when this thread was started, I would not have been so confident giving the same advice.

PS: I now know the answer to my question in post #224: buy Bitcoin. My bank at the time (that I am slowly moving away from) turned out to be Bitcoin hostile.

Your dad's boss should really be managing his own Bitcoin.

How many e-mail addresses does this guy use?!?
Edit: check with your old iSP, though when I did that with Yahoo! the answer from the old ISP was "no, that user-name was re-used."

The safest way to hold coins is cold-storage on a piece of paper -- in two (or more) distinct locations.

The trust in Bitcoin is backed by math, not financial institutions.

It is OK if the average person does not trust Bitcoin yet, because frankly, we would not be able to handle the transaction volume.

BTW web wallets have a long history of being well-polished scams. See: "Mybitcoin"

I will agree that they are a long-running exchange. Of course, you can just check Nanaimo Gold's posting history to verify that.

They are not a traditional exchange where you trade with other parties directly: They are essentially a precious metal dealer (with licenses I assume).

The difference between the buy and sell price is called  a spread. They likely increase it during times of high volatility. All that said, I have never used their services.

If they are worthless, there is no harm in holding them. The transaction costs would be too high to actually sell them.

Why the rush?

If you want to move that much money, ask if your counter-party is willing to accept Bitcoin.

Edit: for retirement, just give yourself an allowance. No need to completely cash out.

For those that don't know the context:
PG SELF IMPOSED CENSORSHIP BECAUSE BFL DOESN'T WANT PG RIPPING THEM A NEW ONE FOR EVERY ERROR

The remote hard-drive can be in a system that stays offline until receiving a WOL packet.

I haven't got my routine backups working yet, so can't really tell you what I do.

Was planing to do both DVD-R HDD based backups.

Remote is important too. I suspect if your are using sneakernet, you would want to keep the off-site, off-line backups to weekly frequency.

Do your really have $600 worth of data every 12 hours? If that is the case, I may suggest some kind of version control system out of reach of the compromised Windows Machine.

It it possible to have money without government intervention.

As a socialist, I always found it amusing that the neo-conservatives claim that The "free market" can be used to reduce government intervention. The "free market" does not exist without government intervention.

Money is one piece of the puzzle. The court system/dispute resolution is another.

If it is not offline, it is not a back-up.

I think this virus would be vulnerable to the Cold Boot Attack. To encrypt the files, the key has to be in memory. To force the key to be in memory, you may even want to plug in an enticing-looking external drive for it to encrypt.

Edit: forgot about the DMA attack: figure IEEE 1394 connectors are a security risk