Oh hold up...am I doing the math right on this? Jan 2010 Bit is .002 If you bought $10.00 worth, you'd own 5000 btc? And if you held onto it through all this time, all 5k, to today's $493, your bitcoin would be worth $2,465,000 And at one time, when it went to $1100, your bitcoin was worth $5,500,000?? LOL wow, no wonder yall are steamed! But hey, if that's actually correct above and I didn't do it wrong (because it seems like it really can't be that simple), and someone out there just held onto 5k btc from the beginning, to end up with 2 million dollars on a $10 buy is insane. Even more insane if they bought a few hundred/thousand bucks worth. Makes the rest of us want to go slam our heads into the walls though...  Yes. Why do you think that Goat is buying Lambos and Risto has a castle in Estonia? They bought A LOT of coins really, really cheap. Well they bought cheap, but probably not $0.002 cheap. Nobody was really buying much at that time, not much outside interest. The 10000 BTC pizza transaction occured on May 2010, and that was the start of Bitcoin really starting to gain value. Before that, Satoshi accounted for more than half of the mined coins, and these coin never moved to this day. Goat probably started late 2010 or early 2011, I can't imagine his average price be lower than $1. |
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When you compare January 1st price vs Dec 31st price of every year, Bitcoin has always been going up, and most of the time significantly up.
January 1st 2010: around $0.002 per Bitcoin
December 31st 2010: around $0.80
January 1st 2011: around $0.80
December 31st 2011: around $4.70
January 1st 2012: around $5.00
December 31st 2012: around $13.25
January 1st 2013: around $13.00
December 31st 2013: around $730
January 1st 2014: around $750
December 31st 2014: ? ? ? ? ?
Do you think this year is an exception?
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A bit is a micro-bitcoin. This leaves two decimal places... From link above: "Fundamentally, the goal is to move to micro-bitcoins (uBTC, “bits”). This is most compatible with existing financial software." Thanks, so the "bit" unit is invented by Bitpay? there's increasingly adoption of this unit everywhere from what I've been seeing. |
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I'm increasingly seeing people use the "bit" unit, how much is 1 bit? I've never seen this unit explained.
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Why is BitPay raising all this money?
Don't they makes enough money already?
You can never have enough money to: * buyout/acquire competition * develop new products * invest in something * rainy day fund |
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While scanning can be done without executing the program.
Did you see the code? With such a simple code, the antivirus would report as suspicious 95% of software, and the users will click "run anyway" without reading. About warnings, since he is using Windows, OP totally ignored the microsoft smartscreen warning saying that this is an untrusted app from the internet. Do you think that another warning, that would appear by running almost every app downloaded from the net would have been more effective? And also, don't forget that the app is compiled, would you accept a delay of 3-4 seconds in opening every app because the AV has to check if the decompiled code is "safe"? (and also must check in the future, against tamperings) 95% of software do not upload your local files to a remote FTP, so they won't trigger this warning. I was talking about scanning the file without executing it. The "run time scanner" don't have to be this thorough, but there's no reason for the regular scanner not able to spend the time to decompile and warn. I think most people would depend on the "regular scanner" to scan unknown files, they don't usually just execute unknown files from Internet and pray the "run time scanner" can intercept bad things. |
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Why not? the program takes multiple files from the user's computer, and uploads to a remote FTP, that seems pretty malicious to me, or at least warrants a BIG RED warning to the user:
"This program will try to upload your files to a remote FTP, if this is not the desired behavior, don't fucking run it".
So, any software that has libraries to access FTP (browsers, ftp clients, file uploaders, dropbox clones, html editors) will be detected as virii? This is social engineering, only an human can detect it Next time the OP will install a good firewall like this http://www.sphinx-soft.com/Vista/order.html or run unknown software in a virtual machine Not detected as virus, but just popup a warning, then the user will know if the program is doing what it suppose to do. Firewall is basically the same thing, it will popup a warning when the program first trying to upload something. The downside to firewall is that it only works when the program has already ran, and firewall could fail to work. While scanning can be done without executing the program. |
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I think they carry phones, just not cash. You can carry a phone when naked.
I usually carry my phone in my pocket to keep my hands free where would you suggest me to carry my phone if I visited this establishment between my ass cheeks? No, a lot of people just dangle their phone on their wrist or just always hold it with one hand. |
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Until Coinbase came along, and made it easy for people in the US.
So how long before they begin engaging in fractional reserve? If they are hacked and lose a significant portion of the bitcoins that they hold, will they make the information public? How can you be certain that nobody in the entire company will ever disappear taking a substantial percentage of the funds along with them. I understand that many people trust them, the question I have is: "What makes them more trustworthy than MtGox?" They literally can't engage in fractional reserve, unless people use Coinbase as a wallet. If people use it like how I use it, they can't do fractional reserve. You mean like the way people used MtGox as a wallet? Doesn't Coinbase encourage people to use them as a wallet? I recently made a purchase from a merchant that uses Coinbase to process transactions. The merchant was unable to deliver and processed the refund through Coinbase. Coinbase required me to set up a wallet with them to claim my refund. How long until they start offering off-blockchain transactions between Coinbase wallet users for micro-transactions and instant transfer? When I sell Bitcoin on coinbase, the money directly goes to my bank account in a few days. Coinbase has no withdrawal fees on Bitcoin withdrawal, also Coinbase does not offer limit orders, so there's zero reason to keep your coins there.
People choose to keep their bitcoins there for convenience if they trust them. Perhaps you'll start to see that "directly to my bank account in a few days" grow to "several days", and then "a week", and then "a few weeks". Didn't MtGox eventually encounter delays with withdrawals? As for trustworthiness, being a US company founded by financial industry veterans, and multiple high profile VC backing, seems pretty trustworthy to me,
Right. Just like Enron, the entire banking industry leading up to 2007, and Arthur Andersen. Also their cold storage has been audited by trusted 3rd party.
Interesting. I guess I hadn't kept up on the news about this. Can you provide a link? I'd like to read about it and understand what steps they've taken. Audit is here: http://antonopoulos.com/2014/02/25/coinbase-review/You don't seem to understand Coinbase's paradigm, it's fundamentally different from mtgox. Mtgox has never offered direct buy/sell from bank account with PRICE LOCKING, you are lucky to fund/withdraw your money in a week, at best, with fees, and the price is probably changed significantly when you actually get your money into your account. So usually you just keep your fiat in mtgox if you don't want to pay lots of fees and experience lots of delays and price swings. Coinbase does not even allow you to keep fiat in your coinbase account, all buy/sell must be done from your bank account. You can only keep Bitcoin in coinbase, you could use coinbase as a wallet for storage, that's up to you, I don't. Coinbase works just the same without using them as a wallet. |
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Until Coinbase came along, and made it easy for people in the US.
So how long before they begin engaging in fractional reserve? If they are hacked and lose a significant portion of the bitcoins that they hold, will they make the information public? How can you be certain that nobody in the entire company will ever disappear taking a substantial percentage of the funds along with them. I understand that many people trust them, the question I have is: "What makes them more trustworthy than MtGox?" They literally can't engage in fractional reserve, unless people use Coinbase as a wallet. If people use it like how I use it, they can't do fractional reserve. When I sell Bitcoin on coinbase, the money directly goes to my bank account in a few days. Coinbase has no withdrawal fees on Bitcoin withdrawal, also Coinbase does not offer limit orders, so there's zero reason to keep your coins there. For fiat, you literally can't keep fiat in coinbase, it always has to be in your bank account. As for trustworthiness, being a US company founded by financial industry veterans, and multiple high profile VC backing, seems pretty trustworthy to me, to handle my money for a few days per transaction. Also their cold storage has been audited by trusted 3rd party. |
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Well gox didn't fool me, I stopped using gox from June 2011, when they lost their entire customer DB with passwords. The best decision I've ever made.
Congrats on your good, clear thinking about Gox. Back then we had no other choice with decent volume. I was glad when Gox came back, and my confidence in "them" was probably the worst advice I ever offered in public....sorry. Yes it was a difficult time, but since Bitcoin price went down hard at that time, I had no desire to buy or sell, so I just kept my stash, and stopped trading all together. Until Coinbase came along, and made it easy for people in the US. |
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There's nearly zero adoption in India, no nodes, no miners, no exchange, no infrastructure, nothing. I don't see it changing any time soon.
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当年互联网也是这样，BBS封了一大堆，最后还是挡不住互联网，只好弄个世界第一的大防火墙罩起来，头埋土里说“你看不到我，你看不到我”。
现在对比特币也是这样，先封了再说。等被国外逼的不得不接受，再想别的办法阉割。
然后中国人还整天抱怨自己没有定价权，没有规则制定权。
你曾经有机会掌握规则，去年中国人几乎就掌握了比特币的定价权，和规则制定权。然后被中国政府自废武功了而已。
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Well gox didn't fool me, I stopped using gox from June 2011, when they lost their entire customer DB with passwords. The best decision I've ever made.
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Why not have a tattoo or a henna of a Bitcoin wallet QR code then don't even need a phone especially at a nudist resort without pockets No phones? Wouldn't that mean everyone could receive money, but no one could send it? I think they carry phones, just not cash. You can carry a phone when naked. |
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Thanks for posting the link. This virustotal report is clean apart from the Symantec reputation Suspicious.Insight flag in the Advanced heuristic and reputation engines section of the additional information tab. I usually just look at the information on the first tab shown, so would have missed this. Why not? the program takes multiple files from the user's computer, and uploads to a remote FTP, that seems pretty malicious to me, or at least warrants a BIG RED warning to the user: "This program will try to upload your files to a remote FTP, if this is not the desired behavior, don't fucking run it". |
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lol, this hacker is pretty funny and clever, it pops up a dialog when it's stealing your electrum wallet:
"Electrum has detected another program trying to access your wallet, it is important you change your password now!"
So the unsuspecting user will give them the wallet password.
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This year isn't over. Bitcoin was up every single year since inception in 2009, I don't think this year will be an exception.
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So, apart from the guys shouting "rich will get richer"
It's not that. It's the rich will have untouchable anonymous power. There is no way to stop a cabal of people from taking permanent control and reversing transactions discretely. But with PoS they need 51% of the entire wealth of the currency, to do so, and at that point why would they do it? they will only undermine themselves when discovered because the value of the currency will plummet. They would never allow themselves to be discovered. There is no method of tracing controlling shares to individuals. Everything would be done in secrecy using TOR or other darknets and disinformation campaigns would be waged. With PoW, they only need about 10% of the wealth to overwhelm the mining hashrate, because the current Bitcoin mining operations are worth about 10% of the Bitcoin marketcap.
There are many countermeasures against PoW attacks precisely because the hashrates are known. There are still vulnerabilities with Bitcoin, but because the transactions are more transparent, there will be better engineering solutions. What are you talking about "they will never allow themselves to be discovered"? I can assure you, they will be discovered once they start reversing transactions. The identity doesn't matter. This particular crypto-currency will crash and burn over night, the attackers will be only hurting themselves since they hold over 51% of the currency. On the other hand, attacking a PoW currency only need about 10% of the marketcap in cost. How does "hash rate is known" make it any harder to attack?? I don't understand, I would think it only makes it easier to plan the attack. In a PoS currency, the "unknown" part is really a safety mechanism, since the attacker can't easily figure out if he could ever obtain 51%, because he don't know who's holding what, and 51% may never be achieved simply because they are not available for sale. |
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So, apart from the guys shouting "rich will get richer"
It's not that. It's the rich will have untouchable anonymous power. There is no way to stop a cabal of people from taking permanent control and reversing transactions discretely. But with PoS they need 51% of the entire wealth of the currency, to do so, and at that point why would they do it? they will only undermine themselves when discovered because the value of the currency will plummet. With PoW, they only need about 10% of the wealth to overwhelm the mining hashrate, because the current Bitcoin mining operations are worth about 10% of the Bitcoin marketcap. |
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