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1  Bitcoin / Bitcoin Discussion / Re: Happy halving day on: October 19, 2012, 11:40:44 AM
We've been thinking about this for a while, the proper event for the occasion is of course a block party.

In fact the exact date cannot be set until 4 days before the event. (Or more precisely, 4 days before the event you have a 24-hour window for when the event is 99.7% likely to occur, and a 16-hour window for 95.5%.)

When block 209999 is found the countdown starts: "600, 600, 600, 600, ... Happy block year!"

LOL
2  Other / Beginners & Help / Re: Introduce yourself :) on: September 22, 2012, 12:37:56 AM
I work for HP, but in Enterprise Storage Arrays,
Ahahaha well, we do have a demo program..check with your HP account rep. :-)
Ahahaha!  whew...good one.   Cheesy

Working @ HP is a pretty good gig, right?
3  Other / Beginners & Help / Re: Trust No One on: September 19, 2012, 11:41:06 PM
Seriously. Don't trust the exchanges, don't trust online wallet services, don't trust your anti-virus software, and don't trust anybody online.

If you absolutely must trust someone with your bitcoins, for the love, choose carefully!

  • Do you know their full name?
  • Do you know where they are located?
  • Have they demonstrated trustworthiness in the past?
  • Are they asking you to trust them? (red flag)
  • Do they have insurance?

Insurance? Impossible, you say. Not so!

When I needed people to trust me to hold bitcoins for a contest, I deposited 50 bitcoins as a bond with a well-respected forum member, so that even if I did something stupid and lost people's money, they would still be reimbursed. You can read about it here: http://bitcointalk.org/index.php?topic=10008.0

Consider carefully who you will trust. With bitcoins, elaborate scams may be profitable. For instance, someone may develop trust for their user name over many months with small transactions on this forum, then take advantage of that trust to make off with a lot of money. Such a scam would only be worth doing on this forum. No other forum in the world would be worth the effort.

If you want someone to hold your bitcoins for you, there are NO online services that have the transparency and security to make me comfortable using them for storing bitcoins for more than a short time in small amounts. The only way to do it is like I did - choose someone whom you believe to be trustworthy, and approach them. If they approach you, or in any way say or insinuate that they are a trustworthy person to hold your coins, STAY AWAY.

If you are thinking that I might not be trustworthy, since I am writing this post about the issue, you are approaching the appropriate level of paranoia.

If you want to store your bitcoins with maximum security, there are lots of resources about how to do it, such as this: https://en.bitcoin.it/wiki/Securing_your_wallet

Here's my summary:

1. Put all your coins in a new wallet that has never connected to the network
2. Encrypt that wallet with the maximum security you can find, using the most secure password you can keep track of
3. Delete the plaintext wallet, and distribute the encrypted wallet to every piece of physical media you own, store it online, and send it to several people you trust

Don't think you can generate and remember a secure enough password? Create a super-long password, and store clues to help you remember it. For instance, your password clue file might say:

My standard password + My throwaway password (backwards, all caps) + &#$%@ + First two sentences of first paragraph of page 19 of my favorite book (include all capitalization and punctuation) + My wife's mother's middle name + My son's favorite superhero + My favorite number times 8734 + food my wife hates (backwards, all caps) + 9-digit number stored with my paper will + 10-character password stored in my safety deposit box + . . . .

You can go on in this way to create as long a password as you want. Store this password clue file with your encrypted wallet, and optionally encrypt both with a simple standard password to keep out snoopers.

In this way, not only can you recover your coins from your "savings account" at a later date, if you get hit by a chicken truck tomorrow and die, your loved ones can probably piece together your password and recover the coins too (better make sure you trust them, and that between them they have or can get the answers to those clues).

I recommend that you practice your wallet encryption and recovery a few times with a small number of coins, until you are very comfortable with the process before you try it with the bulk of your savings.

And remember, this is how most bitcoins services get started:



Comic from: http://bitcointalk.org/index.php?topic=13903.0

Sorry for the long quote of the OP,  but is this still the investment environment of bitcoin (as described in the OP)?

When I see a stickied thread titled "Trust No One" and the OP hasn't been edited in some way, I have to assume the high-risk investment environment still exists. [EDIT] since August 2012?

Is this true?

Obviously, I'm new here.  Comments and links appreciated.

thx
4  Other / Beginners & Help / Re: Introduce yourself :) on: September 19, 2012, 10:50:32 PM
Hi,

One of my regular clients heard about bitcoin and asked me to look into it for him.  So far, I'd say it defies easy description.  I guess I've got my work cut out for me.

 Smiley

Hope your client pays well because you have a lot to dig into  Smiley and welcome to the forum

Thanks!  I was going to do it as a favor because he's paid very well in the past, but I'm coming to the conclusion that he will get an "executive summary" for free, and a bill if he wants any further detail.

 Cheesy

Is your client Lockheed Martin ?
My client is a living, breathing individual who has a lot of irons in a lot of fires.
5  Other / Beginners & Help / Re: Introduce yourself :) on: September 19, 2012, 12:37:36 AM
Hi,

One of my regular clients heard about bitcoin and asked me to look into it for him.  So far, I'd say it defies easy description.  I guess I've got my work cut out for me.

 Smiley

Hope your client pays well because you have a lot to dig into  Smiley and welcome to the forum

Thanks!  I was going to do it as a favor because he's paid very well in the past, but I'm coming to the conclusion that he will get an "executive summary" for free, and a bill if he wants any further detail.

 Cheesy
6  Other / Beginners & Help / Re: Introduce yourself :) on: September 18, 2012, 10:45:14 PM
Hi,

One of my regular clients heard about bitcoin and asked me to look into it for him.  So far, I'd say it defies easy description.  I guess I've got my work cut out for me.

 Smiley
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