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I've made the same statement multiple times in the past Matthew.
There is a real cost associated with either securing your Bitcoins properly or risk of losing your Bitcoins. If you make them secure enough to withstand hackers (offline), physical theft (stored in a safe), blackmail (plausible deniability), and fire (multiple locations), then it also makes them extremely cumbersome to spend or use. That cumbersomeness = loss of time. Time is money.
On the other hand, if you don't secure your Bitcoins against every one of the above possibilities, then it is entirely possible that you could lose your Bitcoins, so there is a risk cost of holding them.
I think the biggest incentive to spend them is the volatility though. And there's nothing you can do to change that, except hedging. Sure, the price might be on a general uptrend, and you might believe that it will continue heading that direction, but there's always the possibility of something terrible happening and causing the price to plummet. So, you spend because you don't know if you'll still be able to spend tomorrow.
Summary: There are three ways to lose money by not spending Bitcoins:
- By theft or loss.
- By spending time or money in keeping them secure.
- By the value dropping.
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FYI, BFL never offered a 64GH/s unit. They offered 40GH/s units initially, which were then upgraded to 60GH/s units.
I sent BFL an email last year asking about this when they changed their product lineup, and they confirmed that they will be delivering 64gh/s per unit in this order. Hence my saying "...so these will be two of the fastest units out there." Thanks for the heads up though. Cheers Interesting. This is the first time I've ever heard 64GH/s from anyone. You must've gotten lucky somehow then. Mine was originally 40 GH/s, then 60GH/s, and still at 60GH/s. |
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FYI, BFL never offered a 64GH/s unit. They offered 40GH/s units initially, which were then upgraded to 60GH/s units.
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Agree to disagree on the keyboard. Having tried the iPhone keyboard, Swiftkey, and Swype (latest beta), I've found that swiping is much faster than tapping, and SwiftKey's AutoCorrect is more accurate than the iPhone's (it will sometimes predict 4 words in advance!)
Edit: yes, no Android phone that I know of ships with a good keyboard.
I think I tried a keyboard called "Perfect Keyboard" which was better than the default, but still not great with regards to autocorrection. If Swiftkey wasn't one of the stock keyboards available, I didn't try it, sadly, as I may have liked it. Swype is cool and probably fast if you're used to typing on a phone with one hand to begin with. As it is, swyping could never be as fast as I type with two thumbs, since it only uses one finger and have more traveling time between letters. Even after I got used to the swype keyboard (it was the one I used the most) and was swyping across words as fast as I physically could, it still doesn't hold a candle to just plain old autocorrected-without-looking thumb typing. Anyway, yes, agree to disagree. Obviously, different keyboards are better for one person vs another based on how they type. |
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Honestly, I think we've reached the point of no return now. Unless a major government outright declares Bitcoin illegal, I'm bullish all the way until we reach $10k, and maybe longer.
Oh gaud, now I need to get my pokemon cards again.  I actually kept one card from my old pokemon collection of my childhood. It was an error ninetales, and after I got it graded, managed to sell that one card for $250.  |
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We're looking at implementing a Bitcoin economy in Minecraft on my server...
It regularly has 30-60 players on it, so it'd be neat to see that many people using Bitcoin as a micro economy on a regular basis! I'm just afraid of the potential for hackers to ruin our fun.
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Yep, I really did. Lots of little things I just really didn't like about it. The keyboard is terrible (all of them), the screen is very hard to see in sunlight, some apps are $10 or $20 on Android while free on iOS, I can't go from the lock screen straight to taking a picture, taking a screenshot of the phone didn't work 80% of the time, etc. The iPhone just does everything I want it to do except Bitcoin (hopefully more support in that area will come soon), so I switched back.
You sound like me switching from an iPhone. "Lots of little things I just really didn't like about it. The keyboard is terrible (there's no way to try even one other), the screen is tiny, the appstore is blatantly censored for political views and there's no way to sideload apps, I can't use lockscreen widgets (or widgets at all), can't replace the battery (useful on long trips), can't expand the tiny storage space with an SD card, no Bitcoin allowed, etc etc. Android does everything I want it to, so I switched to it. Agree that the screen is smaller than I'd like it to be on the iPhone, but it's too big on the S4 for some things... I never really decided if I liked the 5" screen size or not. 1080p was awesome, but I couldn't one-hand it across the entire screen like I can on the iPhone. It's more like using a tablet instead of using a phone. App store censoring is annoying, lockscreen widgets are cool, I agree, and replacing the battery and storage is awesome. The downsides just threw me off too much though. I'll probably try the latest and greatest Android offering in another year and a half, when I am again eligible for an upgrade, and see if I like it. The keyboard is way better on the iPhone though. It actually autocorrects properly.  If you do so much as add an extra letter on the S4, it would come up with all sorts of words you didn't want. The iPhone's autocorrect is just a lot smarter, and means I can type essentially without looking and very quickly, and it almost always comes out how I wanted it to, even though every other letter was mistyped. |
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1000?  Man, if only.. can you imagine? I had the same kind of thought about $100 not so long ago... Exactly. $1,000 isn't as far-fetched as some people think. I don't know that it will happen this year, but mark my words, it will happen. wait a minute. is that you, SgtSpike?  Honestly, I think we've reached the point of no return now. Unless a major government outright declares Bitcoin illegal, I'm bullish all the way until we reach $10k, and maybe longer. |
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1000? Man, if only.. can you imagine? I had the same kind of thought about $100 not so long ago... Exactly. $1,000 isn't as far-fetched as some people think. I don't know that it will happen this year, but mark my words, it will happen. |
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Newbie question here, but am I reading this right and the stolen bitcoins are still in a blockchain account? Can't blockchain "freeze" the account until this is sorted out?
Blockchain.info has no control over user accounts or users' bitcoins. The Bitcoins are controlled client-side - blockchain.info only facilitates an interface to help control them. |
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I deeply dislike the statement that someone deserves to have their coins stolen if they don't do XYZ things to protect them. Should people do their homework before storing that kind of value? Absolutely. But saying they deserve to have their coins stolen is like saying that a woman deserves to get beaten or that some "heathen" city deserves to be destroyed by a natural disaster.
I can get behind the statement that some people will never learn until they learn the hard way but no one deserves to be stolen from simply because they were a bit of a noob. I lost a fair amount of funds because I got busy and didn't manage my account balances well - did I deserve to be stolen from? If it turns out that whatever system you use has a faulty random number generator do you deserve to be stolen from because you "should've known better" than to use a non-quantum entropy source? There's always some extra step you can take to secure your funds better and to blame the victim because they didn't take as many steps as you is a terrible attitude. This was a theft, blame the thieves.
That said, this is one of the many ways in which Bitcoin has a long way to go still. Properly securing a keypair isn't impossible to do and we already know plenty of ways to do it, but it's not common knowledge and we place far too much of the burden of security on the individual who, frankly, almost certainly has no idea what they're doing. Key management is a pretty specialized skill and we need solutions that don't rely on every single user to have that skill. If you have that skill and want to manage your own keys, good on you, I'm happy to manage my own keys too, but most people are going to be incompetent at this particular skill and that's ok - I'm incompetent at carpentry but if I want something built of wood I hire someone to do it. Not everyone has to be good at everything they want done.
I completely agree with you - I am not trying to blame the victim, only trying to find out why this might have happened so that we may all better protect ourselves. That hardware wallet cannot come soon enough... |
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Somebody has hacked my blockchain account and took everything i had all 39.70btc ive been mining for months!
Im even sat here watching transactions being confirmed and can see the 2 accounts its all now held in, via blockchain info!
Anbody got any advice?
I'm really sorry for you. 1) How did you generate your vanity adress? 2) Did you use 2-Factor Auth. How do you know he had a vanity address? 1NeiLYQBFawaummF9XHc4hPBkG6W1bUCpb Is this vanity? Perhaps if his name is Neil. But very good point - if the entropy isn't sufficient in any vanity generator, it makes the coins held there unsafe. |
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Somebody has hacked my blockchain account and took everything i had all 39.70btc ive been mining for months!
Im even sat here watching transactions being confirmed and can see the 2 accounts its all now held in, via blockchain info!
Anbody got any advice?
I'm really sorry for you. 1) How did you generate your vanity adress? 2) Did you use 2-Factor Auth. How do you know he had a vanity address? |
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nah... no thanks u dislike it that much ?? Going back to iphone ? bloody dropped my phone onto concrete today... screen shattered in top right corner. still 100% usable.. not to much of the actual touchable screen shattered (and even that bit still works) just doesn't look so pretty anymore. and don't really wana put my head to close to the shattered glass.. has a few sharp bits... $260 to fix  I'm sure the earlier models where much sturdier.. my s1 I used to throw around and its still 100% 2-3 years later... even the s3 took a few hits and was fine (till i dropped it in water.. :[ ) Its annoying cause i'm usually not this unlucky / retarded. i I'm selling my S4... $550. Want to replace yours?  Yep, I really did. Lots of little things I just really didn't like about it. The keyboard is terrible (all of them), the screen is very hard to see in sunlight, some apps are $10 or $20 on Android while free on iOS, I can't go from the lock screen straight to taking a picture, taking a screenshot of the phone didn't work 80% of the time, etc. The iPhone just does everything I want it to do except Bitcoin (hopefully more support in that area will come soon), so I switched back. |
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How much are your 5 BTC 2011 coins?
7.75 Shipped within the US 8 Shipped worldwide. Are they 2011 or 2012 coins? |
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How much are your 5 BTC 2011 coins?
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I've got an ANACS graded MS67 Casascius Coin... 2011, actually it's one of the ones from Mike's first day of minting on 9/7/2011! What do you think it is worth? I'd like to get a fair price for it, but am not sure. I have previously sold a first-day coin (not graded) on eBay for $866. I have also sold a graded MS63 September 19, 2011 coin for $909 on eBay, an MS63 here on the forum for 5 BTC, and an MS64 for 5.9 BTC. Any opinions on value? I've never done any sort of coin collecting before these Casascius coins, so I don't really know how the grades might be expected to affect value.  |
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A few other 9-chars.
1ArGUMEnTsZvthWQj6yP6p6BG89nMQVZ1m
1gigaByteSVzV6B7aoPdysVaYNfkh87si
1LeGEnDARybygawrtfUHksViPp3kmaw4fM
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bloody dropped my phone onto concrete today... screen shattered in top right corner. still 100% usable.. not to much of the actual touchable screen shattered (and even that bit still works) just doesn't look so pretty anymore. and don't really wana put my head to close to the shattered glass.. has a few sharp bits... $260 to fix I'm sure the earlier models where much sturdier.. my s1 I used to throw around and its still 100% 2-3 years later... even the s3 took a few hits and was fine (till i dropped it in water.. :[ ) Its annoying cause i'm usually not this unlucky / retarded. i I'm selling my S4... $550. Want to replace yours? |
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feminism can also be seen positively: because of it, our workforce has almost doubled since the 60's. There are still girls out there who will do anything a porn star would do, you just have to find them. A doubled workforce isn't necessarily a good thing. When you don't NEED a doubling of supply, then a doubling of supply only serves to reduce demand. I think we already see this in the form of free market wages not inflating as much as the CPI and other indicators. So now, we're left with a situation in which it is difficult for a family to get by unless both parents are working, because there are so many people who want a job, because so many more females are willing to work. Definitely a double-edged sword. |
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