I couldn't find many reviews of your service so I wanted to post about how positive my experience was.  I posted this in one other thread too I think.

Fantastic, smooth as butter.

Purchased a $50 Amazon code just to test it, then a $500 code when the first one worked.

Seems fully automated.

Maybe 10 minutes until I got my code at my email address.  Immediately redeemed it at amazon.  No signups or silliness necessary, just an  email address and your payment...the way the world should be.

Dead simple website design too.  I will use this one again.

Don't see many reviews of your service.  Just wanted to say kudos.

Purchased a $50 Amazon code just to test it, then a $500 code when the first one worked.

Seems fully automated.

Maybe 10 minutes until I got my code at my email address.  Immediately redeemed it at amazon.  No signups or silliness necessary, just an  email address and your payment...the way the world should be.

Dead simple website design too.  I will use this one again.

Since when are human reactions and game theory random?

They are based off of  small set of initial conditions and a similar set of possible reacting conditions.  Far from random there are like what 5 starting positions and 5 possible ending positions(Same, better, much better, worse, much worse)?  It is the very definition of NOT random.  It's exactly 25 possible iterations of beginning and ending conditions.

I'm correlating to a specific, similar event from approximately last year to a specific similar event from approximately this coming year.  It's not random, it's SIMILAR.

It seems oddly familiar....big change predicted to be coming...everyone holds their breath and then.......

Something less than the usual.

I keep looking back to last year where everyone expected a HUGE price break after The Goodwife did an entire episode about bitcoin and finding Satoshi.  We built for 2-3 months expecting something amazing...and then...nothing.  What followed was a 30-40%ish price fall (Had to check numbers since I'm tipsy and prone to fudging)

High of a Billion per coin?

Well, if coins were actually selling for a billion dollars that would be one coin selling for more than all the coins in the world were previously worth; also that is bumping up on coins being worth more than all the liquidity of all the various currencies in the world.

More money than Dwolla has or is able to transfer.

More money than MTgox has or is able to transfer.

Not too likely.

What seems more likely is someone hacking into mtgox and simply giving themselves all the coins for sale.  Whatever is going on here it is going to be bad.

Trading is going to be rewound on this one, MTgox can't afford to lose that much money.

Thank you.  Seems to work fine.

 

As the title says, I'd like to place the QR code for bitcoinspinner on a flyer.  THis way I could send someone who is interested a bitcent, be my own personal bitcoin faucet.

I've looked on the android install website for a QR code and I can't find anyone, though I'm pretty sure I installed it originally using a QR code.

Is this no longer doable?  Or am I missing something?

I posted this somewhere else so I'll post it here too.

Personally I think this is done because the Mt Gox API's are so shitty. During high volatility both Mt Gox Live and clarkmoody (which uses the mt gox ticker api) just plain shut down. Small trades would let you keep track of the current buy and sell prices at least.

This isn't really losing any money after all. Just watching it I see he trades about once every 6 seconds up, and six seconds later down. And the spread is about 3-5 cents. So assume one loss every 12 seconds times the amount traded times the average spread and multiply it by about 10 hours. (usually when I see this behaviour it is during high volatility and the behavior runs for ten hours or so)

# of losses per minute = 5 (ie 60/12)
# of minutes per hour = 60
Amount of trade = .0001
The spread of the trade or loss = .04
#of hours = 10
5 * 60 * 10 * 0.0001 * .04 = .012 US dollars lost

While this person has lost only about .012 US dollars, they are able to output their trades as a CSV and at least see where the buys and sells are located.  This will let them build their own chart of where the price is at any given moment regardless of whether the APi has pooped out yet again.

So....like a company that allows you to anonymise what sites you're visiting, that allows you to pay in bitcoins for the bandwidth.  Like a proxy....or "virtual private network"....


By rough count there are around 30 companies that do that on the main bitcoin website.


https://en.bitcoin.it/wiki/Trade#Connectivity

So you're theorizing that bitcoinica is running low on coins to short with, so soon there will be an upwards correction?

Or am I interpreting wrong and your opinion is that bitcoinica is running low on coins to short with which will lead to liquidations that will further short the market?

I am looking at the distribution of hashing power controlled by the various pools right now.  Deepbit only has 35% of the network.  Maybe people finally changed over.


Tycho's opinion on the matter is good just as a general thing, but at these levels I don't think he can force a change if he disagrees.

Watching the video I was curious how this might work in a fast-paced restaurant on a busy friday night.

One feature I would love to see, is if there could be a number of slave accounts/phones that all paid into the same wallet, but could not spend from that wallet.  In this scenario the restaurant might have multiple mobile devices that they pay for, or the employees might even be able to use their own device.

Another feature would be if this same app could handle two wallets; then the server could have tips sent to a separate wallet, while the main payment was still sent to the restaurants wallet.  Otherwise the server just has to trust that their manager will pay yhem later without skimming off the top or tip sharing at all.

Daydreaming aside though...this looks incredible.  Very easy from the video, and I can just use my Mt Gox wallet to pay without issue.

As I recall one of the biggest was back when people a lot of people were convinced that Mt Gox had had not only its database hacked, but it's entire bitcoin stash hacked.

In order to prove that they still had control of all of their reserves they did a single large transfer that everyone could see in the block chain.

Though as I recall at the time they transferred like 420,000 coins just because the number 42 is always fun.

Maybe Mt Gox continues to transfer it back and forth once a month so they can always prove they have control of their reserve>

The people who were trying to get money into Mt Gox last week probably still aren't online with MLK and the weekend getting into the way.  Now is not the time to shy away from Bitcoin investing.

It is a great time to shake out the weak hands if you're planning on taking everyones money though.

I already have multiple copies of my wallet.  But a new user would not know how to do this.  Streamlining it by including it as an automatic option in the client would make the learning curve for bitcoin much shallower, and much less dangerous to your coins.

And I'm rereading about the deterministic wallets in clients like Armory.  I still like the simplicity of my idea more though.

So I was reading the second whitepaper and thinking.  Always dangerous, but I've gotten into that habit.  One of the main remaining weaknesses of bitcoin is that you can lose bitcoins by writing over wallets.

But if we're already allowing users to encrypt wallets, and if the encryption is secure, then shouldn't it be secure to allow users of the native client to automatically export their wallets to multiple backup servers?  Because the wallets take up negligible space running a backup server should be low impact and something just about anyone can do from a garage.

1.This should only be an option AFTER encrypting a wallet.
2.A properly encrypted remote copy of a wallet should be safe from even a corrupt server operator.
3. Wallets can be remotely retrieved on any copy of the bitcoin client and unpacked on the local computer.




This seems to me like it would be a killer app of bitcoin, your bitcoins anywhere, but also secure

It's not the main TED though.  This is a TED university session.  Had one at my University once a year ago.  Thnk they're generally called TEDx, rather than TED.

Still a good thing though, just not Bill Gates level stuff.

The big selloffs seem to be occurring during this fee free time period for Bitcoinica.

I'm thinking a few people decided to dip their toes into Bitcoinica because of the no fee thing, and then got force liquidated on a small market drop while they were playing with 10:1 leverage.  This could have created several unfortunate snowball effects in a row.

I understand that correlation is not causation but this seems too good an explanation.

Could this be right?  Or am I not understanding something about Bitcoinica. 

There.  I think I found it.  There are two banks in Somalia that accept international wire transfers.  The only problem is there are no American banks willing to transfer.   I imagine a Japanese bank will not have this problem.  As has been the case for the last couple decades the banks can handle their own US dollar based arbitrage, their international finances are not your problem.

What you need to have Mt. Gox do an international money transfer to another bank, be it American or Somalian is the SWIFT Code, name of person transferring too, account number, and home address.  Hell Mt. Gox even lists Somalia on their drop down menu.

• Central Bank of Somalia (SWIFT Code = CBSOSOSM)
• National Bank of Somalia Limited (SWIFT Code = NASISOS1)

So the mechanism for transferring bitcoins to grandma in Somalia is as follows:

• Buy Bitcoins - Make one Mt. Gox account in your name and buy bitcoins using Dwolla and your normal American banks.
• Have grandma or mom make an account at one of the two banks I listed above (they may already have one since that was the bank you were transferring to before)
• Make a Mt. Gox account in grandma's name.  You may later on need her ID and some sort of phone bill with her home address on it if you want to transfer amounts larger than $1000 per day.
• Transfer Bitcoins to Grandma's Mt. Gox account.
• Sell Bitcoins and withdraw from the Japanese bank that Mt. Gox uses using an International wire, grandma's name, bank account number, and the SWIFT code of on of the above banks.

Rest easy knowing that mom, grandma, and the kids can eat a nice meal thanks to you working in the United States.

There are already banks and money transfer services set up in Somalia.  Money transfer services are already a significant part of their economy.  Individuals just need a way to transfer to the banks their relatives were already using for the past 5-10 years.  These banks dealt in both Somalian Shillings AND dollars as far as I can see.

Dahabshill looks like one option that was around but I don't see how to do it.

Pirates with speedboats full of cash is a romantic but pointless idea.  This is a country that already has at least some internet (if only satellite based) and international wire transfer infrastructure in place that was working fine for transfers up until two weeks ago.