It seems like gov't intervention & fraud mean that this currency has high volatility as well as bigger than 0 factor of complete default. Can anyone reassure me?
Mt. Gox was the largest exchange by a large margin and if trading and exchanging was all that bitcoin was good for, you would be able to argue that this incident would be more than just a temporary setback. This temporary setback is significant though because Mt. Gox was generally seen as the one place where price discovery mechanism was the most accurate. As funds and order flow reaches other exchanges, that price discovery will start to be distributed. Which is likely an improvement over the centralized price discovery we had previously. Bitcoin itself can continue strong. An upcoming release of the client will include the wallet encryption feature which should make it be seen as adequately secure for most storing consumer-level values. Bitcoin isn't growing as fast as it is for no reason. Those reasons are why these hurdles will be overcome and bitcoin will become even better as a result. |
|
|
|
Hi, I haven't read all the mtgox threads, but I learned that some coins got extracted. During the live interview with Adam from Mt. Gox on Bruce Wagner's OnlyOneTV it was shared that the exchange moved their bitcoins to a separate wallet as a security precaution. That might explain the large several hundred-thousand bitcoin transactions that occurred (as seen on Block Explorer). |
|
|
|
Bitcoin now has both Aristotle and Plato: - http://forum.bitcoin.org/index.php?topic=4752.0 This won't be anywhere near complete without Socrates! Now, the question is what to do with it. Is there someone on Facebook you'ld like to offer an award to for their contributions? Or someone on FB to just share your wealth with? Send them a tip with YouTipIt escrowed tips: - http://blog.youtipit.org/?p=48 They will then get claim instructions and the tip is theirs! The same type of thing is possible with Twitter: http://www.paybitback.comIf you are into gambling, Bitlotto has the best odds. It is a monthly lottery, 99% payout, 100% transparent. All wagers and payouts are visible in the blockchain. Each ticket costs 0.25 BTC. (though some countries might have laws regarding you placing wagers online.) As far as purchases of tangibles, that amount of bitcoins is just at that threshold where it won't buy much yet when ordering online because shipping and handling will generally chew up a good chunk of your purchase. Though 1 BTC will just about get you a T-shirt now: - http://www.squarewear.biz/index.php?route=product/product&product_id=69The variety of options is increasing daily though. Some of the leading sites include: - http://www.biddingpond.com - http://www.forbitcoins.com - http://bitcoinhop.comOr, ... you could just hold onto it. If bitcoin's history repeats itself, that bitcoin might buy a lot more a few months from now. |
|
|
|
I get the following error when attempting to register: There was some sort of problem. Try again. |
|
|
|
No such transaction Incidentally, Bitcoin Charts has a page showing transactions that have been announced to the network but have not yet been included in a block: - http://bitcoincharts.com/bitcoin |
|
|
|
But the real juicy bit is this: it's going into the print edition! No idea if it will be on the front page but he did say it was feature length so it is highly probable that it could be. I'm aware of his current deadline, but to prevent the Bitcoin market from getting even more sporadic than it is I won't be publicly revealing the edition it is being published in. Are you referring to this article? http://www.economist.com/blogs/babbage/2011/06/virtual-currency |
|
|
|
Maybe a few people could get the machine to give up some loot, but one of them is actually going to still get paid. Ha, I forgot that defense mechanism. At the profit levels for vending machine snacks, even if you succesfully pull off a [single] double-spending attempt, you still lose because the markup on the one snack you did just buy is so high.  |
|
|
|
I still think that it will be a really bad time for the performance of the network, if the miner supply economy is at all matured at that point It isn't something I've seen addressed on the Wiki article listing weaknesses: - http://en.bitcoin.it/wiki/WeaknessesAre these, or any other changes, worth fighting for? And that is the reason for this discussion. Fair enough, I'm personally not convinced but I'm not a dev for this project. It is possible that no devs are following this thread here in this forum. You could instead try adding this to the Weaknesses article, or perhaps you create an issue in github and tag it as a feature. |
|
|
|
I really want to buy I need a site that trade cards for btc! or if anyone here is interested looking to buy small amount.... Are you aware of: - http://www.bitcoinexchange.cc |
|
|
|
I would like to try to sell some short stories in a free teaser, payed-ending format. Does anyone know if there is a site that let's one do this? Is it worth it to even try? I know bitcoinservice allows one to get paid for downloads, but I need a way to expose the front end of my stories to potential buyers first. Any ideas?
Sure ... put the free part in a post on witcoin, then at the part where it switches to pay-only, include a link to the download on bitcoinservice, or whichever service hosts the file. - http://www.witcoin.comThat might work for soliciting a tip even from those who don't purchase. One caveat, however, it wouldn't surprise me to see someone purchase the remaining part of the story and post it as a reply. Even as owner of the topic, you have no control over the replies other than to vote certain ones up or to reply yourself. |
|
|
|
Ultimatly what this boils down to is trying to find:
What affects the price = Supply and Demand
What affects Supply = Miners
What affects Demand = Speculators
What affects Miners = Running costs
What affects Speculators = ....
If you can find these answers you will have a better idea of where price is heading.
Didn't mention a single thing about the bitcoin economy and it's use as a currency which is why everyone's dumping when you boil it down. It got the media attention and all the tech savy people thought they could get rich quickly and out smart everyone but jumping in and just got turned into a giant pump and dump. Transaction volume (# of transactions) has been over 10,000 transactions a day recently. That is about 3X more per-day than the levels about a month ago. That is among the metrics that will matter at lot more to the future market price (months and years from now) than the day-to-day swings between greed and fear that we've seen over the past couple of months. |
|
|
|
I finally got my cash into Dwolla (started the transfer last Friday at 4 EST, so it was a full week and then some) anyway... was wondering if cash can be added to MtGox during the weekend? Cause if not I'll be really sad  Yes, funds can be transferred from Dwolla to Mt. Gox at any time. The exchange has an automated process that supposedly runs once an hour, 24 X 7. - http://en.bitcoin.it/wiki/Mtgox#Dwolla |
|
|
|
Hi, I wonder if this would be a good/save idea to use bitcoins more securely:
1. Create a wallet with bitcoin
2. Write down it's address
3. Encrypt this wallet (e.g. 7z with encryption), and send it to yourself via email. This will be the 'savings account'.
4. Delete the wallet from your computer
5. Create a new wallet, this will be your 'portemonnaie'
6. Whenever you want to save some coins securely, send them to the address of the 'savings account'.
As I see it, this way you can secure most of your money, and when the computer get's compromised, the intruder cannot get to the savings account.
Will this work? Or is it possible that transactions to the 'savings account' will get lost, when you do not actually use it in the bitcoin client? Close, but still vulnerable. > 1. Create a wallet with bitcoin When you created the wallet, it writes that data to the filesystem. Unless that is an encrypted filesystem, even after deleting that file there is wallet data left unencrypted on the filesystem. See: - http://en.bitcoin.it/wiki/Securing_your_wallet#Making_a_secure_workspace> 3. Encrypt this wallet (e.g. 7z with encryption I don't know 7zip's encryption. If it allows multiple encryption methods, only a method that is considered secure method should be chosen. |
|
|
|
However, if even one peer does not tell the vending machine about the new transaction within a set period of time, then that likely means that said peer has already seen a conflicting transaction, or a network issue, or a grieffer realizing how to disrupt vending machines, or [...] But I might be misunderstanding this. Are you saying that if my node relays a transaction to your node, your node will then in turn bounce that transaction back to me? |
|
|
|
Stand back, I'm about to do the impossible! Creating a fork is not impossible. What is likely impossible will be convincing the bitcoin community to incorporate your fork which, to me, addresses only a temporary and minor adjustment occurring at known points of time in the future. More importantly, I think you significantly overlook a little detail. Bitcoin absolutely relies on trust. Trust that the rules (the protocol) will not be mucked with. That the protocol can survive as-is, and not require a change whenever someone comes up with suggestions for improvements or perceives it to somehow be flawed. Fortunately, if a serious issue does appear, it is technically possible for the protocol to be added to or modified. For something like this though, that probably won't be happening. [edited, removed strikeout from words] |
|
|
|
|
Show Posts
