You're right. We can see all the coins being sent from one address to another. Now, looking at that information, tell me the identity of the person who owns 18pJmBTvjmcNGUR4CXtUMz5jZbU1KnSx7q.
I am pretty sure that address is owned by the Jim Beam plant. I mean JmB ... it is so obvious. |
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used this a little while ago, would be nice to have a <$100 option
Yeah I can see $25, $50, and $75 options becoming useful from time to time. Really? So $25 + $5 GreenDot fee + say $5 to BTCPak for the service. = $35 for $25 = 40% markup? Doesn't the flat fee structure kinda make larger tx useful and smaller ones prohibitively expensive. It would be kinda like trying to Western Union $18. Yeah you can do it but it doesn't make much sense. |
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True, but what he said is still pure speculation. There is no proof that BFL mines on the units before they ship them.
One time I shook my BFL Single and a used nonce fell out. Never got a good explanation about that. The nonce in question was 0x8d8f1f44. I put it in a plastic bag for safekeeping. But seriously where is my Single (er the Single I already auctioned off)? |
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Over a certain $/kWh you probably shouldn't be mining with GPU to begin with.
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You are totally right. This is what I would want as a customer. Well you or someone else could create a ewallet which sets up subcription payments so the customer can be fleeced of money they didn't intend to spend on products/services they don't really need/want. However given the nature of Bitcoin I wouldn't imagine such a wallet wouldn't be very popular. The user would not have control of private keys (mybitcoin2.0) and like you said as a customer it isn't what you would want. Your competitors could gain business by giving the customers a prepaid option. So you are setting yourself up to use a wallet which is likely unpopular, opens the customer to risk, and puts you at a competitive disadvantage to your rivals. Bitcoin is changing things. You can embrace the change or you can fight against it and cling to old models. In the long run the former is going to be more profitable. |
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You really need to start thinking outside the existing payment models (which exist due to limitations of credit cards).
Any wallet which starts allowing the wallet provide to send money to services (pull vs push) is unlikely to be very popular.
prepaid is likely a better concept then subscription.
i.e. current price is say 1 BTC = x days of service. Lets say it is 10 days. I can start using the service as low as 0.1 BTC deposited. The site converts BTC into days (or hits, or kb, or credits, or whatevers) based on the current rate. If I login and my service is exhausted I get notified. If my service is low I get warned.
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The challenge as I see it is to be able to make them all unique cheap as opposed to mass-production of identical things.
Are you planning on printing the corresponding private key with the card? Or are you thinking the Bit-Pay model where the card is tied to a hosted wallet service? No, I did not wanted to put a private key there, only public bitcoin address. tbcoin did  And it should not be tied to any particular wallet service, interoperateability is important. I guess I could have worded my question a bit better. How will you provide the private key to the purchaser of the card then? e.g., another card, or on a piece of paper or what? And then will it be mailed with the card, or sent electronically? Well if you made them to order the buyer would already know the private key. |
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If MtGox stopped accepting Dwolla then they would have even a greater imbalance of funds and thus require more capital to float.
For example (hypothetical numbers):
Before Dwolla went "crazy" on deposit restrictions.
Dwolla In: $10K per day
Dwolla Out $12K per day.
Net net Gox had move move $2K USD through banking system to "reload" the Dwolla account.
Since Dwolla went "crazy" on deposit restrictions.
Dwolla In: $5K per day
Dwolla Out $12K per day.
Net net Gox now has to move move $7K USD through banking system to "reload" the Dwolla account. The lag in reloading is what has increased the cashout times from hours to days and now weeks.
If MtGox were to stop accepting Dwolla
Dwolla In: $0K per day
Dwolla Out $12K per day.
Net net Gox now has to move move $12K USD through banking system to "reload" the Dwolla account. Either cashout times take longer or Gox needs a huge amount of capital. Say the lag is 4 days. That would mean they need to have ~$50K in idle cash. Now I think Gox cashout rate is a lot higher than the hypothetical $12K per day. If it is say $80K per day then to cover a 4 day lag (and make withdrawals instant to end user) requires ~$300K in capital.
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With all the FUD being spread around I was starting to get worried myself, so withdrew some bitcoin from Mtgox.. look at that.. received instantly, no fees, no delays, no problem..
So to disprove the FUD about USD you moved some Bitcoins? Try moving from Gox dollars via Dwolla or send a $25K wire to yourself from your Gox account and then tell me how problem, and delay free it was. Still the 37% who think it is worth "nothing" are idiots or trolling. Tell you what I will buy every Gox dollar someone believes is worth nothing for an amazing $0.50 on the dollar. If you believe it is worth $0.01 or less you just made 50x return on your money. I imagine I won't get any takers. The liquidity and transparency issues cause Gox dollars to be devalued slightly but it isn't anything more than maybe a nickle on the dollar. |
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It is not possible. Transactions are signed by the private key of the input being used. You can't combine two tx from multiple parties without trusting either the other party or a third party.
Note in your example if entity A & B send a tx to node Z it doesn't matter even if node Z "could" combine them into a single tx node Z still knows A was sending coins to P and B was sending coins to Q.
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The challenge as I see it is to be able to make them all unique cheap as opposed to mass-production of identical things.
Any experts in the field?
How cheap do you need them to be? A digital card printer can print black resin (virtually indestructible) on PVC card for about $0.15 ea. |
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If you are small enough nobody is going to care. If you get big enough being on foreign soil isn't going to help you the tiniest bit. http://www.fulltiltpoker.com/the largest online poker site in the world (at the time the DOD shut them down, issued arrest warrants, revoked passports, and frozen nine figures in bank accounts around the world (w/ the aid of local govts). BTW "in reim" is a nice way of saying the US govt is asserting that any and all properties (cash, stock, bonds, server, software, patents, shareholder compensation, etc) is all the property of the US govt as proceeds of a criminal enterprise. The fumiest part is the DOJ wants $1 B in damages on top of seizing everything the company owns.  |
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It also seems that FinCEN is catching up with the times.
They have changed the wording of a lot of key terms.
"Stored Value" has gone away and is replaced with "Prepaid Access".
"Foreign Currency Exchanger" has been replaced "Foreign Exchanger".
I don't think FinCEN has produced any written declaration on Bitcoin but TangibleCryptography LLC has asked for an administrative ruling on the "Application of the Money Services Business Rule to a Company that Issues Prepaid Access to Digital Assets".
They are required to issue a response within 60 days and a redacted version will be available to the public.
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Woosh!
Yeah. I thought it was funny though. I guess you needed 66 or more posts to get it. |
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Except most people will just enter their password there.
You can trust them all you want, but don't tell people to do it.
Right click > View Source. Hmm yup the javascript is hashing the password using SHA-1 function and the only data sent to the server is the SHA-1 hash. Your point again? By your logic nobody should use Bitcoin. While the source code is open and available unless someone has read it themselves every single line they should never recommend Bitcoin to anyone else and even if they do recommend it they should only do so to people who are capable of reading the entire source code line by line. Which is why Bitcoin is only used by Satoshi and 3 guys from MIT with masters degrees in computer science and cryptography. Right? |
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Did you bother opening the homepage before trying to fix it?
Yes. Did you read the words in the screenshot you just provided? Just provide your password (which we hash with JavaScript; view source to verify) or a SHA-1 hash of your password below, and we'll check. For example here is a hash of my LinkedIn password. http://www.leakedin.org/?check=04858397aa974628e2f20f62661034dfa7dcd233Have fund spending the next thousand years trying to brute force it. SHA-1 may be degraded but having the hash only doesn't really give you anything useful. Hell here is a SHA-1 hash of my MtGox password ee5f21d188bb765b74c315cf4cda472e50f55c02 and here is SHA-1 hash of my BitcoinTalk password 030b02c46b7c238cb21ac04a7aadd1d937c5c2e2 Congrats you just collected 3 SHA-1 hashes. That has got to be worth something. |
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If however, the control-points are things like supermarkets which have captive local consumers - it's unfortunately not going to be enough to stop it. No customers will just use cash or some other system which retains fungibility. The customer will just ignore worthless Bitcoin and all the complications which produce no value and undermine the system. That is the whole point. Once Bitcoin loses fungibility is ceases to have any value as a medium of exchange. "Here is this new medium of exchange which just happens to suck royally as a medium of exchange. Please stop using your existing highly fungible payment systems and adopt this one instead" Anyway.. the likely implementation would be that the merchant accepts them, but applies the prescribed tax and asks for a further small payment before you walk out of the store. At which point: a) Bitcoin loses a user likely forever b) The store loses a customer possibly forever c) A class action lawsuit lawyer gains a lucrative plaintiff. |
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Extortion. "You keep using that word. I do not think it means what you think it means."
Mt.Gox failure to disclosure their identification policies in advance may be shady, hell it may even be illegal (doubtful) but under no possible interpretation of any law is it extortion. Even if it WAS extortion that is a criminal matter. You can't seek civil damages for a criminal charge. Even if a judge ruled that MtGox can't ask for your ID you have suffered no damages (legal sense of the word). You can't seek redress for damages never suffered.
Under the totally implausible scenario that anyone took your case seriously, and you made it to court, and survived motions to dismiss, and ended up winning at best you would get your $100 back (maybe with some interest and no not that 1% per day interest in the lending forum the 1.5% APR interest you could claim as damages). So in a year you might get $101.50. Well no you won't but that is under the most asininely optimistic scenario you could possibly hope for.
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