Fair enough. Why do you think I have not started an exchange in UK? Yep, could not afford or raise 200-500k£ required to get FSA license and cover compliance costs.
Imagine how many business, in so many different sectors, fail to be created due to these kind of requirements? These artificially created barriers to entry only serve to benefit those who are already established. It's sad to see so many people doesn't getting it and supporting more of these regulations, and at the same time they blaming free markets for income disparities. |
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Regulation, no matter what some of you seem to think of it, exists for a reason, and it is to prevent things such as this.
Regulation, no matter what you naively believe, exists to get rid of annoying competition, concentrating market shares and income. Learn about "public choice", the first 20 seconds of this video might enlighten you a bit: http://www.youtube.com/watch?v=6uR4lqa7IK4Regulations cause that effect much more effectively and transparently ("disguisedly") than simple government spending. Anyway, you probably won't care, I'm probably losing my time here. Had there been accurate reporting, disclosure, meeting of capital requirements, self-regulatory structure and organization, safeguards against market manipulation, and so on, perhaps this all could have been avoided.
Yeah, pretty much like the much more serious hack of Sony was avoided, right? |
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How is that an 'attack'? Isn't it basically just someone mining a lot of coins?
 it`s attack against all honest miners!  Not precisely, it's an attack against the owners of the infected machines. |
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Hmm. Good point, are you worried about hardware, or software keyloggers?
Software, mostly. I plan to buy a new computer and then allocate my old laptop only for bitcoin usage, as long as it survives. No web browsing on it. It will be quite annoying getting the addresses from the "surfer machine" to the "bitcoin machine" each time I want to do a payment, so maybe I'll leave a small wallet on the dangerous machine as well. Something that wouldn't make me pull my hairs out if it's stolen. Or maybe I'll just get used with copying and pasting the addresses around. |
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I also think you should consider selling it.
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Honestamente, acho que o melhor que você faz é começar a aceitar pagamentos em bitcoins pelos serviços de tua LAN. Venda apenas as que precisar para pagar pelo seus custos, e acumule o que puder em BTC na forma de poupança.
Você poderia ganhar mais grana com isso, além de divulgar o projeto para todos os seus clientes, aumentando o número de brasileiros capazes de se proteger contra a inflação do Real. Os mais curiosos poderiam até aprender bastante sobre o quão corrupto é o nosso sistema monetário.
Claro que no começo ninguém vai ter bitcoins para te pagar. Mas você poderia montar uma pequena exchange in-loco também. Compra algumas bitcoins no MeuBitcoin e venda-as a seus clientes, ao mesmo tempo em que explica o projeto e porque bitcoins são melhores que o Real.
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As long as there is not a keylogger in the machine you use to mount your truecrypt partition... that's the main problem. |
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It would be great if we had a ranking system for entire topics. Like, if enough people vote a topic to be "trollish" or plain bullshit, you don't even waste your time opening it.
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A default from the PIGS would be the optimistic grand-finale for this tragedy. I am not that optimistic, I think the chances of the BCE monetizing the Greek debt are high, what would be worse. My "optimistic hope" is regarding other euro-zone countries, whose populations have made clear they do not want to bailout foreign governments. I wonder if the Finish for example would attempt to leave the euro-zone. And if they did, what would be the consequences? Would other countries follow? If Germany drops the euro, it's the end of the common currency... and the Germans are precisely those who are paying the most to bailout these broken governments. Here's a very interesting text about the euro, and why it is a self-destructive system: http://mises.org/daily/5331/The-EMU-as-a-SelfDestroying-System |
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So it is a NO for DDOS, but what about legitimate uses? If current userbase generated 450MB  , how much would 100x userbase generate a year? Tens of gigabytes? |
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There are 2 issues there. One is abusing the disk space of miners by making the block chain grow to much. Transactions fees prevent this.
Another is sending tons of microtransactions to yourself in order to consume the entire bandwidth of all bitcoin clients. This can be avoided by refusing to propagate the transactions of a peer which seems to be flooding. But currently the mechanism used is that transactions which don't obey a hardcoded transaction fee policy are not propagated by the default client software. I don't like this mechanism very much, I hope one day it gets replaced by something that doesn't impose a transaction fee policy. But it's better than nothing anyway.
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I'm not an expert, but isn't the private key memory area of a smart card unrecheable? How would you backup your wallet if it is in a smart card? For a home use dedicated device, I don't think it needs a smartcard. Just a flash memory, plus wallet encryption with a password should be enough. Actually it's better, since you could easily make backups of this encrypted wallet. How I see such device: - Small, but not necessarily pocket-portable
- With a small keyboard
- With inner storage capable of storing the wallet, a light-weight blockchain (headers + blocks in which you have money) and all the software it needs
- Capable of password protecting your wallet
- Wallet management and transfers features just like in the bitcoin client
- A camera so the user can read bitcoins addresses or QR codes with btc addresses from anywhere
- Wi-fi used only to connect to the bitcoin network, nothing else
- With a USB port so you can make backups of your wallet somewhere else
- As cheap as possible, meaning monochromatic screen and no unnecessary fancy stuff like touchscreen etc
And as a big bonus, although not that important: - Embedded anonymisation proxies (Tor, I2P)
- Bio-metric authentication
Such a device would be just wonderful.  |
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You can have a government and a free society.
No you can't. More on that below... So basically a government that people willfully support.
Not at all. By definition, a government (state): - Has a monopoly on the ultimate dispute resolution (Justice monopoly)
- Although not imperative, almost always finance itself through theft (taxes)
There is no competition or voluntary contracts regarding governments. That's a huge difference between them and what I describe in the paragraphs you quoted. So how do we keep murderers from murdering? OSTRACIZE THEM, YOU'LL HURT THEIR FEELINGS AND THEY WON'T BE ABLE TO LIVE 'CAUSE PEOPLE WON'T SELL THEM SHIT. OK, so if you've got all these murderers wandering around the countryside, what's to stop them from, you know, murdering for what they need to survive?
If you have a legitimate interest (I guess you might have some, otherwise you would not have read the auto-translated text of mine  ), consider reading Chaos Theory by Robert Murphy. It's a short, easy to read book. Quickly answering this, it would be just very unlikely for anyone not subject to any sort of anti-murder law (or "not insured", in Robert Murphy's terms) to even be anywhere near any civilized place in a free society. And in the event that really happens, and this someone commits murder and is caught, he would probably have to willingly submit himself to some court, otherwise he'd be much more screwed if he happens to be ostracized. Remember, he would lose all legal protection in such situation. Just link the dots to realize what that could mean. Fucking foolishness, it's just government by another name.
From where you are today, if you are not happy with your government, what can you do? Can you cancel your contract and subscribe yourself to a different justice provider, with different rules? Or create your own justice provider, with your own set of rules? Government, by definition, is a monopoly, which depend on coercion to exist. The "foolishness" you criticize is a free market of law and justice. They are completely different things. I won't answer the rest of the post because it's basically the same thing, you're confusing free markets with monopolies. |
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2. Custom hardware dongle/card with display and keypad for increased security
A custom device with only the bare essentials to connect to the bitcoin network and send transactions would be something awesome. I can't see a better way to protect your wallet while also using it. |
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Or is it immoral to participate in an activity that is guaranteed to enrich a relative few at the expense of the relative many?
Are lotteries and bingo immoral? What about sports competition with prizes? Just let people spend their money the way they want... |
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Anarchism is the libertarian equivalent of the socialist's utopia. Both are equally likely to happen.
You know what is even much less likely to happen than a free society? A world without intentional murders. I just can't imagine that happening... can you? And, just wondering, knowing that intentional murders will probably always happen, do you by conclusion support a minimum number of murders so everything keeps working fine, as we know it? Nice straw man, I never said anything about a free society. Anarchism (as in "no government") = free society, you should know. Like, if you're forced to work for others, you're not really free... I just avoid the word anarchism since it has been somehow hijacked by confused communists, and in many cultures it means "chaos". As long as you have idiots, you'll need laws, and a justice system to enforce them.
You don't need any sort of mafia to have laws and justice: http://translate.google.com/translate?js=n&prev=_t&hl=fr&ie=UTF-8&layout=2&eotf=1&sl=pt&tl=en&u=http%3A%2F%2Fwww.mises.org.br%2FArticle.aspx%3Fid%3D605A government that protects the rights of its people
That's a logical contradiction. Such governments would inevitably spring up under an anarchist society anyways as people found that letting people go 85 mph through residential areas isn't conducive to a safe neighborhood.
Sure! Only by stealing people and forcing them to abide to our decisions we can make them drive safely! Property rights and contracts are useless on that matter... how couldn't I see such a thing!? Seriously, man? That's all you've got? |
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I also lost access to the marketing wallet (7000 BTC), despite having three copies (one in a VirtualBox, one on Truecrypt/Dropbox, one somewhere else). Details on the loss are in the #bitcoin-dev chatlogs if you care to search. Anyway, this was extremely frustrating and another reason to focus on better wallet security.
Seriously? It was stolen?? That's awful! What a pity... |
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Very interesting analysis bitsalame.
It indeed makes more sense, all those bitcoins belonging to MtGox... maybe the hacker even knew that, since he had access to an auditor's computer, and somehow knew where to start looking for coins. Maybe the "auditor" computer had the password to the super-rich account. Actually, maybe the "auditor" wasn't an auditor, but just one of their employees who happened to have access to the whole database and money.
It surprises me anyway, 500.000 coins... that's a lot of revenue for their service... it's indeed a business with a lot of space for more competition!
Just my criticism though: you should be careful before calling such technique a "science". It's as scientific as meteorology or other "sciences" which can't really be trusted... there's no logical way to build knowledge over axioms, and by using an empirical approach, how can you isolate all variables, distinguish interference and all? Anyways, maybe I'm just being too much of a purist here.
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My 2 cents:
People are being too hard on MagicalTux. Sure, there were problems. But let's remember he got the exchange from a guy who developed it alone in his spare time, and since then he's been very busy trying to answer all e-mails while getting rid of DDoS attacks. He didn't have too much time to fix the problems, everything happened really fast.
On the other hand, I also have a hard time believing this story of "one account with 500KBTC in it". I can't believe such an amount would be left in a MtGox account with weak password. The most reasonable possibility I see to that is the owner of the account passed away months ago, when these 500K weren't worth that much, and never told his relatives/heirs about the account. Sounds unlikely.
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- les arnaques : les nouveaux services, proposés par des nouveaux venus partent avec un à-priori défavorable (les jeux de hasard également )
Attention avec ça... je dirais que c'est mieux de laisser passer quelques arnaques que de bloquer des annonces légitimes... |
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