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821  Other / Beginners & Help / Re: exploring wallet.dat on: May 07, 2014, 06:25:08 AM
If someone else has the same private key both of you can spend the coins that were send to the address that belongs to that key.

Chance of a collision is extremely low - you'd be more likely to win the lottery 10 times in a row than you would have a collision so I wouldn't worry too much about it.

As far as keyapirs go, all you need is a private key as the private key can determine the address but not the other way around (as Bitcoin uses various trapdoor functions). If you're looking into cold storage I'd suggest using Electrum so you can quickly broadcast txs that you have signed offline (meaning your privkey is safe).
822  Economy / Gambling / Re: DirectBet – LIVE Sports & Horse Racing Betting. Instant Payouts. BTC Rewards on: May 07, 2014, 05:35:53 AM
I'm getting a 404 when I attempt to open directbet.eu from Cloudflare. I was under the impression that you redirected from there to www.directbet.eu as I've always used the former in the past.
823  Bitcoin / Bitcoin Technical Support / Re: Wallet.dat File Extension on: May 07, 2014, 05:10:16 AM
As long as you have encrypted it via Qt you should be fine - there's no need to encrypt it twice unless you're uber paranoid. Just make sure your password has sufficient entropy to avoid bruteforce attacks and you should be fine.
824  Economy / Services / Re: MAKE 1.25BTC FOR FINDING A SCAMMER on: May 07, 2014, 05:05:17 AM
Certainly a feel good ending - although I'm extremely surprised that he gave the coins back. I've rarely heard of scams and thieves willing to give a full refund once they get threatened with dox. Not too shocked about the reuse of addresses though, so many scammers have alts and are just lazy.
825  Economy / Lending / Re: CEX.IO donation/ lending on: May 07, 2014, 04:55:44 AM
What you're asking for is a donation not a loan. If you're looking for a donation I'd advise you to go to 'Games and Rounds' in the gambling sub as this is not the right place to beg.
826  Economy / Lending / Re: 2 Bitcoin Secured Loan: At Bitlendingclub.com (Collateral Already Escrowed) on: May 07, 2014, 04:53:10 AM
Well if you default BitLendingClub is going to find it difficult to find someone willing to buy those domains for the same value as your loan. He has either grossly misjudged the value or doesn't understand what good collateral constitutes. I'm actually very surprised he would be willing to take those at that value.
827  Economy / Scam Accusations / Re: Beware 'LendingTree' on: May 07, 2014, 04:46:35 AM
My guess is that necessity took precedence over logic in this case - you needed the money so badly that you were willing to overlook possibility of a scam. There isn't much advice I can offer aside from using escrow next time or dealing with more reputable members - you hav my condolences of course.
828  Economy / Lending / Re: .2 BTC - 2.5BTC Loans Accepted: 5% Interest | Guaranteed Repayment | Reputable on: May 07, 2014, 04:29:23 AM
I've reviewed past threads and this is by no means the first time I've used the term guaranteed, as well as other similar terms. Why there is now such an issue with it even on loans of even less value than prior, and the issue is enough to deem marking me as a scammer/hazard-to-do-business with is a bit bothersome to say the least.

Your usage may not have been noticed until now and hence you did not receive a notification in the past. The use of the term 'guaranteed' implies that a lender will definitely receive the funds lent back to them. In spite of your past transactions and reputation this is still not true as you are not providing the lender with a means to recover funds should you default or run.
829  Economy / Gambling / Re: BitZuo.com | 2.25%/hour for 72 hours! | Transaction Log | No Max. | Professional on: May 06, 2014, 12:41:15 PM
what will happen once there is no more new investors?

Everyone with funds will not receive them back. This is simply a standard ponzi scheme whereby either the admin will run with the funds or he'll wait till there are no more transactions and then run. In effect this is simply a scam.
830  Economy / Services / Re: Renting out signature space on: May 06, 2014, 12:33:58 PM
Looking for $500/month for my signature space. Tell me the amount of posts you want /month. All my posts will be intelligent, constructive, and in various sub-forums.

Good luck finding a sponsor - from what I've seen the only way you'd get that would be to be using a pay-per-post scheme and literally make 1K posts a month (which is a bit much even if you participate everywhere).
831  Economy / Gambling / Re: Primedice BTC doubling method. Not flawless but it works more often than not. on: May 05, 2014, 01:07:56 PM
no, don't go back to 1.  win or lose, just keep playing and increasing.

The idea is that there will be standard deviation, sometimes you'll be
up, sometimes you'll be down, but as you keep increasing bet size,
you'll eventually get an upswing that puts you in a healthy profit.

(Now, all this falls apart with the house edge)

Still, it is an interesting idea that I read many years ago
in a gambling book, and maybe someone will find it
"useful". Smiley



Your assuming an eventual upswing when you're just as probable to have the same downswing and possibly bankrupt yourself. It really does come down to luck - if you're lucky enough you can make n number of bets at 0.01% and win them while if you're unlucky you can lose n bets at 98%. House edge or no, variance in the short term is the bigger danger. House edge only comes into play during long sessions with many, many bets.
832  Economy / Gambling / Re: Primedice BTC doubling method. Not flawless but it works more often than not. on: May 05, 2014, 01:00:57 PM
Yes, that is obviously true.

However, there is a good probability you will be ahead at many points, any of which
you could cash out.

Let me clarify something - does your suggestion mean you go back to 1 when you hit a winning roll or you just progress infinitely? If you reset at 1 you're taking a loss at rolls of value greater than 2.

It's also just as probable that you are behind at any of these points.
833  Bitcoin / Bitcoin Discussion / Re: How to work with different wallets? on: May 05, 2014, 12:53:30 PM
I want to hand out BTCs to my kids. So my question is: what is the best way to do it?

IMO, the best way would be to give them a laminated paper wallet (possibly with BIP38) or an encrypted wallet on a USB.

You could probably look at Electrum - its lightweight, can be used on Windows, Linux and OSX and as far as I know doesn't actually use Java. It also offers the ability to switch between different wallets and signing transactions offline if you ever wish to move into cold storage.
834  Economy / Services / Re: What should I put in my sig? on: May 05, 2014, 12:50:15 PM
AFAIK the only campaigns that are still accepting new members are ones from gambling site operators and mining companies. I suppose you could try and rent out your sig to someone on the forum - but you probably wouldn't get as much.

You can find a consistently updated overview here: https://bitcointalk.org/index.php?topic=333916.0
835  Alternate cryptocurrencies / Marketplace (Altcoins) / Re: WTS 0.2 XBT payment made via Moneybookers/Skrill service on: May 05, 2014, 12:46:07 PM
dont you think this thread must be on alt coin market..

XBT is an alternative descriptor for BTC that is being used at the moment. So no this is fine where it is - it should not be in the alt section.

EDIT: On an offtopic note, nice to finally meet a member older than myself who is still active.
836  Economy / Gambling / Re: Primedice BTC doubling method. Not flawless but it works more often than not. on: May 05, 2014, 12:44:07 PM
actually the best strategy to win in a fair 50/50 bet game is this:

bet 1 unit.

then win or lose, you bet 2 units.

then 3,
then 4,
then 5,
etc.

Simply increase by 1.

Eventually you should come out ahead.
(But you may need to get to 10,000 units or more.)

With a large enough bankroll, it works and so does martingale.

Your first proposition doesn't work. You don't come out ahead after infinite rolls on a zero sum game (assuming 50% = 2x multiplier). You come out exactly even having made nothing.

Martingale only works on the short term with a defined limit - try it with 1 billion rolls and get back to me if you managed to make it without busting. The problem is that even if you did have infinite money (not possible) a max bet means that your progression eventually dies if you're unlucky.
837  Economy / Gambling / Re: Primedice BTC doubling method. Not flawless but it works more often than not. on: May 05, 2014, 11:54:17 AM
I think U got it wrong. It should be:

If the results are truly random, there is a winning strategy.
But because the results are NOT truly random, >> U WILL END UP LOSING.

People if U want to try out any betting strategy, U don't need to make deposit to try out. Currently, U can play a tournament with fake BTC.01 @ sato-dice.com and win some real BTC OR fairproof.com.

I've been looking for EFFECTIVE betting strategy for like 2 years now (including the strategy specify as the topic of this post), but there is 0 available, although I am still looking.

Either you're drunk or you don't understand the mathematical concept behind probability. There is no such thing as a winning strategy in a pure chance zero sum or negative expected value game over the long term. Many people claim that martingale progressions are a 'strategy' but in reality they are a short-term sham. I can guarantee you my house that after 1 billion rolls you will be broke running martingale. I can also guarantee you that after 1 billion rolls on any negative EV pure chance based gambling you will lose money.

Don't waste your time - it doesn't exist. Or at least spend your time learning the maths as to why it doesn't exist then you won't have to waste another 2 years.
838  Bitcoin / Bitcoin Technical Support / Re: new backup of wallet.dat every transaction? on: May 05, 2014, 11:48:43 AM
If I understand correctly, the bitcoin-qt wallet always keeps 100 unused addresses with their public and private keys in the wallet.dat file, so you can perform up to 100 transactions without backing up the wallet.dat file in between and you will still be able to access the funds in the wallet when you recovered it from the last backup.

This is correct. As the private keys are non-deterministic it is necessary to back them up at least every 100 txs as new ones are generated which have no correlation with the past.

My advice if you're looking for a secure client would be Electrum - memorising a 12 word seed or encrypting a copy and storing it is easier and safer than having to remember to back up every 100 txs and then label the wallets accordingly. Not to mention if you somehow lose access to your newest backup you may be in a bit of strife.
839  Bitcoin / Bitcoin Discussion / Re: Ashton Kutcher "Bitcoin...sort of like internet in the 80s." on: May 05, 2014, 11:22:44 AM
The comparison has been made in the past - I'm personally not a big fan of it. It's nice to think of it as something as big (I certainly don't mind a price rise) but I have my doubts that it will eventuate and change the course of humanity and human lifestyle to the same extent that the internet has.
840  Other / Meta / Re: ABUSE OF TRUST SYSTEM - whiskers75 on: May 05, 2014, 11:15:02 AM
If he can't do that (maybe a rule should be made where there's a time limit in which you have to provide proof) then it should be easy for Macro to message a staff member and have it removed. Whiskers should get some kind of punishment for misusing the trust system. If there's no kind of system to stop people from abusing the trust system threads like these are just going to be popping up everywhere in random sub-forums.

This issue has been raised in the past. It is pointless to have a trust system that is moderated - then the trust system wouldn't really reflect the views of all users but rather the opinions of only the moderators and staff which would completely break the system. Not to mention, who is it to say someone isn't trustworthy - it is your opinion to voice and someone else should be able to voice their own but not change or remove the voice of others.

There are limitations in place - spamming trust affects it less and people who are not on DefaultTrust to a trust level of 2 or less are not considered to have their trust as 'Trusted Feedback'. This is to ensure adequate weighting for trust feedback based on an individuals trust level. If you are a completely new account, I personally would trust your judgement less than that of an established member but I would not prevent them from actually placing feedback. Hence they are able to do so - just that it doesn't count to the number next to your name (if you're on DT - if not it depends what you have chosen).

People who believe they have been 'wronged' are always going to claim abuse. It shouldn't be up to them to decide their trust but the person your conducting business to interpret and judge based upon others feedback that they may trust.
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