Bitcoin is basically a big honey-pot, tailor-made for law enforcement data-mining and linking financial transactions with IP addresses.
You have to be very, very careful to not leak identifying information, before it can be used anonymously. In fact, it is such a PITA that I'd say it is useless to 99% of users as an anonymous transfer mechanism since most internet users have no idea how much they are actually leaking.
But the myth, aka perception, of anonymity seems to be more important to most users than the reality so the party rolls on .... for now.
Even if your spectacular statements were true (one of them is close), I am still better off with Bitcoin than I am with credit cards. It's faster, cheaper, and easier with Bitcoin. Furthermore, things czn be turned around, and we could argue that publicly accessible ledger offers the possibility for the public to audit government and corporate spending. The way things are now, without btc, is that there is no transparency between the government/corporate establishment and the people, but a one-way mirror. Bitcoin could make things fair and balanced. |
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This information must be buried somewhere around pages 13-15, but I cannot find it: what is the number of outstanding shares (sold in IPO, including the "extras")? EDIT: see answer below. Also, a clarification is needed: after investors have received their 0.1 btc per share, further profits will be distributed as (assuming X was the number of shares sold to the investors) - (1) 1/400`000 per share, regardless of X, or (2) 1/(200`000+X) per share, or (3) 1/(2X) per share  EDIT: relevant quotes - @Jutarul
Within my understanding, the way friedcat raise capital for the bitfountain is a little different than traditional. The total number of shares of the bitfountain is 400k, and no matter how many ASIC shares we purchase through the IPO, the number of bitfountain shares outstanding will not be impacted. Things happen in this way:
1. Bitfountain has 400k shares issued, which all belongs to the 3 partners.
2. An SPV set up named ASICMINER. the total number of shares outstanding is not decided.
3. Whenever ASICMINER issue 1 share, the 3 partners will sell 1 share of bitfountain to the ASICMINER at the price of 0.
4. ASICMINER will be responsible for the R&D cost of the bitfountain. if the money ASICMINER raised through its IPO is more than bitfountain need, there will be a special big dividend.
5. ASICMINER's share in bitfountain has a preference in the dividend distribution of bitfountain.
In conclusion, 1 ASICMINER share represents 1 bitfountain share, with some privilege.
Thanks for the interpretation. I suspect these things get cleared up when friedcat prepares his first report and/or releases the business plan to board members. My current understanding diverges a bit from yours, mainly because I see 200k shares issued on GLBSE for ASICMINER. Thus, in your language, the shares already got sold from BITFOUNTAIN to ASICMINER beginning of August at a price of 0. All 200k shares are in the possession of ASICMINER. Those shares which haven't been sold through the IPO to the shareholders should still be in the account for ASICMINER. The IPO is officially closed. However, if you seriously consider becoming a board member by going through the bulk purchase option, please contact friedcat. There is still a pile of shares which didn't get sold. However, using those may require the approval of the existing board members, since it effectively dilutes the existing shares. (currently a share is worth more than 1/200,000, because not all shares were sold). ADDENDUM: the current traded quantity can be observed through: https://glbse.com/api/quantity_trading/ASICMINER(which is 154262 at the time of writing) |
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Just confirm it's safe to do so and I can send 101 BTC back to the originating address. Unfortunately a bit does get eaten up because PPLNS users on the pool are paid transaction fees (but only a minor percentage of users take part in PPLNS).
1ciyam3htJit1feGa26p2wQ4aw6KFTejU is the originating address.
That would be wonderful of you (losing 10 BTC is at least much better than losing 111 BTC). I've sent a PM with a message and signature to prove I own it. This was an example of a chargeback I am perfectly comfortable with...  Glad it got worked out! |
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Only when you spend it will there be the theoretical risk of peers on the network seeing your IP address as the source. (though even then - they probably don't know you weren't just relaying the transaction)
The spending action is the main one where you have to worry about identity linkage occurring - mostly through what shows in the blockchain, but potentially also through IP address if you are worried about the peers you connect to or the network you're on.
Note that in case of a flood of adversary nodes connecting to your node, your IP can be associated with the spend with some probability, not with certainty. There is still the plausible deniability. It would take your ISP or a compromized router firmware to monitor ALL of your conections. |
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The lowest timestamp difference between two blocks was between 156113 and 156114 (-7125s, almost -2 hours).
What does it mean? The 156114 is older than the 156113? Time stamp is based on the clock of the machine that mined the block. The protocol allows for some discrepancy, up to a predefined maximum. |
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oh god, to much to learn about the low level functionality of the bitcoin. tks you all for the information.
Hey, at least the information is public, and open for discussion. Try learning about the low-level (and behind-the-curtain) functionallity of USD or EUR... |
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is this normal?
As far as I know the block come oute in every 6 minutes in avarage.
What causes this delay to generate a block?
There was a 50-minute gap between the last two blocks at the time of writing this. Nothing unusual. There is an average time of 10 minutes between the blocks. Nothing "causes" the "delay" - any more than something causes "4" or "1" when you roll a die. UTC times of latest blocks: 2013-01-09 20:44:02 2013-01-09 19:55:27 2013-01-09 19:52:38 2013-01-09 19:44:12 |
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I really want to go in jail for 4 years in exchange for $7 million. Any ideas? Otherwise in next 4 years I expect to earn only about 8000 USD if I'm lucky and work really hard.
I would choose four years of (relative) freedom over any sum of money, period. |
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We can discuss legal status and strategies, but I think the bottom line is that its status has not yet well-defined by the courts. Until the Justice Department issues some guidance on the issues of bitcoin and bitcoin based gambling, or they file a suit we just don't know.
IANAL, but IMHO, aggressive prosecutors probably would be able to file charges against US citizens that run bitcoin gambling sites. Whether they would want to take on a potentially tricky case and whether they would prevail in a criminal suit is totally unclear. I also think we are probably years away from seeing any action on this front, if we ever do.
I agree. Furthermore, a sign of trouble would be the issue of btc gambling being made into an electoral issue in the U.S. I can see a presidential (or other) candidate with "strong values" trying to score points... |
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You Germans have CE-Bit in Hannover. Iv'e been trying for years to get free tickets. Anyone of you setting up a Bitcoin stand there, or is it too expensive?
You are posting in the wrong thread. |
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Can any senior users say whether you're ever supposed to use your real name in this forum?
Up to you. If you browse the forum, you'll notice lots of real-sounding names. If you do some research, you'll notice that some of these are real. |
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For example if an ASIC manufacturer has the technology in hand and their average customer expects to make 10 BTC/month and is willing to accept a 1 year payoff on the equipment purchase, then it would be reasonable for the ASIC manufacturer to sell the product to the public for 120 BTC.
This is reasonable, especially in the (still hypothetical) situation where NRE cost has been recovered, and further fab runs can be done cheaply. Bonker? |
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Did Avalon just buy bASIC?
He said in IRC that it's someone bASIC has been dealing with all along. Yet again, though, he's playing the "more details tomorrow" card. This is a shocking way to make major announcements. You should anticipate people's questions and give them the answers to those questions when you make the announcement and you should also make yourself available for questioning. The way this has been handled is an epic fail. You should pretty much expect to work around the clock for a few days when you're going to drop these kind of drama-bombs. I was just being silly about Avalon and "ASIANS" - since this whole drama is turning into a surreal commedy. Seriously, though, if this IRC statement is true (someone managing Asian affairs for bASIC, then buying bASIC when these dealings failed) - it's rather fishy. Sabotage the project, so you can buy the company cheap. |
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Did Avalon just buy bASIC?
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Reply from 1 & 1
" Thank you for contacting 1and1 Internet Security team regarding your Phishing complaint.
Please note that we have temporarily suspended the website in question. We are now in the process of investigating this matter and will take a further appropriate action as per the outcome of our investigation.
We thank you for your patience and cooperation in this matter.
--
Sincerely,
Security Team
1&1 Internet, Ltd."
At least the website is offline.
Great. I never understood how these elaborate scams make any sense, with all the time and effort to pull them off. In this case - all the planning, buying a stolen cc to pay for hosting, proxies/tor/etc., Web design, setup, responding to emails, watching this thread - and risk, no matter how small. All that for what, a thousand dollars? Must be a really pathetic loser. |
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What do you mean by homelessness being illegal? Sending a homeless person to jail? In most civilised societies, food, shelter, basic education, and health care are human rights. So, sending to jail politicians and bureaucrats who fail to provide shelter for everyone?
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It sometimes gets confusing when listing the latest posts in the forum, for example the German "mining" board is called simply "mining" - https://bitcointalk.org/index.php?board=60.0Can we rename these by adding a language, as in "mining (German)"? |
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- is there a difference between an IPO share and a share I buy on the havlock market?
As far as you getting the dividends and being able to sell the share, no. The obvious difference is that buying on the market does not help the business grow, yet you expect it to be a successful business and return dividends. If you can buy cheaper on the market, you'll have to evaluate this personal "gain" against the fact that you are not really investing in the business unless you buy IPO. |
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No complaints, only a concern: will Havelock Investements be able to keep up with the growing user (and scammer) base, and maintain their excellent quality of service and responsiveness? I certainly hope so.
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I will not be able to attend, and see no advantage to having a live stream available. Being able to see the talks few days after they took place is a better option as it would save BF resources and make them available for other jobs related to the conference.
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