i like primedice.  |
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Hello all,
So, let's not worry too much about this China thing. If the Chinese government doesn't like bitcoin, oh well, too bad for them. Bitcoin will go on and do just fine in the long term, even if Chinese involvement declines.
okie dokie. but if chinese gov cracks down on btc in any way, focus will not be shifted. derp |
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the only thing we need to back up is our .wallet file, right? that should include all keys and addresses as of the time of back up, correct?
thanks in advance for replies.
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i made a thread about cold storage with multibit.... unfortunately mods moved it to the multibit subforum which has 0 traffic (thanks mods). https://bitcointalk.org/index.php?topic=358470.0any old heads out there -- is there any reason i should not use multibit for cold storage on an offline computer? i have heard you can't sign offline transactions with it -- that's fine, i don't need that. i just want to be aware of any potential snags, update issues, etc. also, i assume you can generate a wallet and address while offline, right? like with QT? |
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The Notice clarify the status of Bitcoin. Bitcoin is not issued by a monetary authority, it does not have the status of legal tender and obliged payment status of money, it is not money in the true sense. Bitcoin is a specified virtual commodity, it does not have equal legal status with money, and it cannot and should not be used as money on the market. But, the general public have the freedom to participate in Bitcoin trading as a commodity trading on the internet on the condition they carry their own risk.
The Notice requires, at this stage, all financial institutions and payment institutions must not use Bitcoin to set price for product or services, not buy or sell Bitcoins, not act as a market maker for Bitcoins, not underwrite insurance related to Bitcoin or cover Bitcoin in insurance, not directly or indirectly supply other Bitcoin related services, including registering,trading, clearing, settlement; not accept Bitcoin or use Bitcoin as payment tool; not start a Bitcoin and RMB or foreign currency exchange; not start a Bitcoin saving, trust or mortgage service; not issue Bitcoin related financial services; not use Bitcoin as the investment in trusts or funds.
Thanks for the link, very helpful. My read of the above is actually very possitive. All China is saying is BTC is not an official currency and so banks can not offer services around it, set markets, offer BTC accounts, etc. However individuals are free to use it as a commodity provided they are willing to accept the risks. This places Bitcoin in the exact same situation as Gold. Banks do not offer gold "accounts" or act as gold market makers or list prices in oz of Gold. Instead gold is treated as a commodity. can anyone clarify regarding the items that say "not accept bitcoin or use bitcoin as a payment tool" and "must not use Bitcoin to set price for product or services" are directed at financial institutions and not average vendors? |
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is there any reason i should not use multibit for cold storage on an offline computer? i have heard you can't sign offline transactions with it -- that's fine, i don't need that. i just want to be aware of any potential snags, update issues, etc.
thanks in advance for your help!
edit: also, i assume you can generate a wallet and address while offline, right? like with QT?
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Granted i traded btc without issue, Btce is incompetent or near scam when dealing with USD deposit. And i dont know about usd withdrawals..
I'm still waiting for my wire deposit to get credited after 10 days.
this is true, i would not wire money there. |
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Btce is where the big swings are. During high volatility, it follows gox almost perfectly. Bitstamp on the other hand moves slowly and unexpectedly. While btce is having a 15% swing, bitstamp will have a 1% swing... bitstamp can royally screw you as a trader trying to make a trade that would be perfect anywhere else. Also, btce's exchange engine works flawlessly - the best, it has the least downtime, and you can trade altcoins. What more can you ask for? When it comes time to withdraw THEN you can send your coins to bit stamp.
all of this. btce is the best for everything except fiat deposit/withdrawal. difficult to deposit and very low price if you want to exit to fiat. if you are into that sort of thing. |
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pretty sure this isn't what you're trying to say it is  |
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i dont think i plan on selling bitcoins for dollars for a very long time. ive made so much on these altcoin rallies, who cares about making maybe 50% (at best if i do well on a 75% or something fall) on a btc correction.... i cant believe all these newbies pouring money into altcoins, i feel so bad for them.... making 400%+ gains in less than an hour, that is not right....
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It's not surprising that Snoop Dog supports Bitcoin. Bitcoin can help struggling industries like the music industry buy putting the money in the hands of artists and not the corporations. All and all this is pretty good news I'd say.
lol i'm not too worried about Snoop Dogg's pockets |
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it's not. based on the mBTC crowd's reasoning, we won't be using 1 oz as the standard measure in the future.
Sure it is. A milestone is just an arbitrary marker. In this case a moving one. shrug, yeah i guess i always saw all these milestones as meaningless anyway, so, sure. |
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do people really believe that those going to buy bitcoin don't understand that they can buy divisible amounts? i don't believe that for a second. they realize it the second they go to place an order. people are stupid, but not that stupid.
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Nobody posted about the fact that BTC reached parity with gold again for a little while.
What's the deal with this "gold parity" fallacy? I can understand why the media is picking it up, it sure sounds catchy, but it's completely meaningless except for that rather shallow psychological reasons (I'm not dismissing psychological reasoning altogether, just pointing out that this one is really rather dumb and easy to see through). If we ever reach parity with tradeable gold market cap, now that would be news. But I'm pretty sure it's a long way til we get there, if ever. It's just a milestone. it's not. based on the mBTC crowd's reasoning, we won't be using 1 oz as the standard measure in the future. |
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Nobody posted about the fact that BTC reached parity with gold again for a little while.
What's the deal with this "gold parity" fallacy? I can understand why the media is picking it up, it sure sounds catchy, but it's completely meaningless except for that rather shallow psychological reasons (I'm not dismissing psychological reasoning altogether, just pointing out that this one is really rather dumb and easy to see through). If we ever reach parity with tradeable gold market cap, now that would be news. But I'm pretty sure it's a long way til we get there, if ever. it's completely stupid. 1 oz = 1 bitcoin? what is that supposed to say? i'm a bull too, but these shenanigans are just stupid. |
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when it comes to bitcoins, i prefer to keep my unit in bitcoins. if my bitcoins are worth $1MM each, i don't care if satoshis are 1c each.
what i do know is that if bitcoin continues to see exponential growth in coming years, repeatedly changing the unit doesn't help the confusion at all.
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