Nope.  I'm not suggesting anything of the sort.  I don't care how OP wishes to gamble with their money (it's not "investment" if there's no understanding).

I'm merely offended by the notion that one cannot afford to lose X, where most people in the world cannot afford to dream of attaining X. 

If you have no dependents and can't afford to lose all your liquid assets, I pity you.

Ah, that makes sense.  I didn't consider that any of this work was rushed because, frankly, if I were to rush a bit of code, it simply wouldn't run.


Don't worry.  I'll only be playing with trivial amounts.

Disclaimer: Don't expect much from me.  I'm not a programmer and only created a GitHub account so I could comment on a Regex Golf Gist.

So far I've just been playing with the basics.

I generated BIP0032 test vector #1 using the command in your readme and got the desired result.

I then created my own master key with bip32gen and used your Base58 module to decompose the output and compare it with the serialisation format as specified by BIP0032.  I managed to recover the private key just fine.



I did have a quick look at the code but I didn't get so far with it.  I got a little confused as your style changed.  For example, compare the extended key version handling in fromExtendedKey
to that in ExtendedKey

On this topic:  Would 0x0488ade4 and 0x0488b21e be better as module constants?  How easy would it be to add support for testnet keys?

That's all I have time for today.  Hopefully I'll find time to move some funds around tomorrow.

I'd be willing to bet that most people are better aware of the relativity of value than the relativity of velocity.  Ask someone what it means to be still in space.

Some people coming to understand a thing already known by many others is not a "major breakthrough in thinking".

As far as I'm aware, Andrew Jackson was a strong proponent of decentralised power (small government) and hard money.  Lincoln was a nationalist (big government) that created a fiat money (not backed by gold/silver, can be used to pay taxes (legal tender)) called the "green-back" (because the ink used on the reverse side was green).


Citation?


Simple.  You earn more money to pay the interest.  If the bank that lent the currency into existence simply destroys it when it's repaid then it will be impossible to pay the interest.  If, instead, that bank spends the repaid currency on hookers and blow, then those hookers and drug dealers will have the means to pay the interest.


Well yes, you can't truly pay off a loan + interest purely by borrowing more money.  This would be like paying off a credit card by using another credit card.  At some point, you're going to be so indebted that you can't borrow enough to make the interest payments.


In a word: No.  They cannot create new bitcoins, they can only spend the bitcoins they have.  Once their bitcoins are gone, they are as powerless as you and I.

Nice!

I'll play with this tomorrow and post some feedback here.

Proof of work.

Cool.  In which case I can only echo hilariousandco.  Read, read, and read some more (I'd start with Satoshi's 9-page whitepaper).

Short-term price movements shouldn't affect you if you're investing long-term.

If you want to minimise volatility you should look to older coins or coins with greater "market cap" as a general rule of thumb.  Note that some currencies don't derive their value primarily from their network effect (look up Nextcoin and NoFiatCoin).

My recommendation would be to go with Bitcoin.  If you perceive this as too risky/volatile then stick with fiat and make a note to check out cryptocurrencies next year.

My retirement portfolio:

30% Bitcoin
20% Litecoin
20% Dogecoin
10% US dollars
10% Saturncoin
10% gold

I would usually have a chunk in real estate but the current housing market seems a bit risky for my taste.

Sure you can.  Just click the "ignore" link next to banaltcoin's post.  Works like a charm!

I'm not artist and can't find anything like this online.  However, I'm not about to make perfect the enemy of good.

I don't trust any of the alt-hons.  Most of them are little more than cheap copies of the original proudhon.

There certainly do appear to be some serious issues with bitcoin withdrawals at Mt.Gox these days.  My interpretation of http://thegoxreport.com/ is that most people are managing to get funds out but a lot of withdrawals are failing.

Combining this with some form of daily withdrawal limit and you can rationally argue in favour of holding Mt.Gox bitcoins on the order book in certain circumstances.  This does support some volume but it should be temporary and declining rapidly.

And it seems that the ask-side volume of Mt.Gox is declining rapidly.  The total number of bitcoins on the order book at Mt.Gox has dropped from 1402 to 922 in the past 24 hours.

So it seems the answer to: "Why are you holding BTC on Mt.Gox?" is: "Is there a problem with Mt.Gox? ... really? ... shit! ... *clicks withdraw* (doesn't work) ... SHIT!!!"

Thanks for helping me clear this up guys.

I imagine that archive.org is still spending bitcoin on labour.

Yes, I'd make sure my client was configured to ignore and and all blacklists.

If I personally suspect that the coins are the proceeds of crime then I would only willingly accept them if the amount was sufficient to compensate my risk.

Ok, but any arbitrage will manifest as pressure on the Mt.Gox rate to converge to the global mean.  This is just another reason to prefer holding Mt.Gox dollars to holding Mt.Gox bitcoins.

But in this case it would make more sense to send the bitcoins to another exchange before day-trading.  Why take the risk that Mt.Gox will fail while you're still day-trading there?

Oh, this is news to me.  I think the situation makes more sense if bitcoins are locked inside Mt.Gox almost as effectively as USD are.