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1  Alternate cryptocurrencies / Mining (Altcoins) / Any exchange tradable altcoins using a CPU-only POW presently? on: July 04, 2017, 11:51:48 PM
Preference for coins tradable on Shapeshift, but I'd be willing to look at any other exchange as well...
2  Economy / Collectibles / WTS: 6 Vintage USB Block Eruptors on: July 03, 2017, 06:43:19 PM
Are these of interest to anyone?
3  Bitcoin / Mining speculation / With the halving now official, how much hash power are you turning off? on: July 09, 2016, 07:35:11 PM
I'm very curious about this.
4  Economy / Service Discussion / Looking for a new sig campaign on: April 25, 2015, 02:01:50 AM
Was just removed from the Bit-X campaign, not for spam, just due to them prunning membership....  What's the best campaign to join now?
5  Economy / Goods / Now you can buy granola, scone mixes and other treats with Bitcoin! on: March 21, 2015, 07:49:28 PM
Hi everybody,

I just wanted to let you all know, I've been working with Berkshire Grain, an artisan food company located in Western Massachusetts, whose products include a variety of granolas, scone mixes, and, my personal favorite, wine and ale jellies. During the course of our discussions, the subject of Bitcoin came up (well... I brought it up), and as I explained it for what it was, they became very excited about it.

They're still doing their homework, learning more and more about bitcoin every day, but have opted to accept Bitcoin (through Bitpay), and I wanted to let you all know, so you can (hopefully!) give his foods a try! The selection is small-ish right now, but they're setting a goal to develop at least one new variety of granola per month for the rest of the year.

Granola's ($4.00 each):
Cinnamon Toast
Pumpkin Seed and Cranberry

Glutten-Free Scone Mixes ($8.00 each):
Cranberry Walnut
Mocha Chocolate Chip

Wine & Ale Jellies ($8.00 each):
Devil's Fire Zinfandel (my personal favorite!)
Apple Pomegranate Hard Cider Jelly
Pinot Noir Wine Jelly
or just check out the rest of their selection!

Chaga Wild Mushrooms

If any of these sound tasty to you, give them a try, and welcome Berkshire Grain into the fold!
6  Economy / Services / Looking for work, happy to earn BTC, Dollars or whatever else. on: March 05, 2015, 02:40:48 AM
30-something here, living and working in Sunny South Florida. Seeking a means of earning some extra money on the side, and thought I'd check here and see if anyone was interested.

I can offer:

WordPress installation, theme customization
Writing, editing, blogging
Bookkeeping services (Quickbooks)
heck, I'll even do data entry

Message me with whatever your needs are, after we discuss, hopefully we can come to an agreement that works for the both of us.

Thanks for reading!
7  Other / Politics & Society / Google backtracks from 6 month promise to encrypt Android phones by default on: March 03, 2015, 08:11:06 AM

Not Bitcoin-related per se, but given that privacy is an important issue across the board, and one that Bitcoin users tend to feel especially strong about, not to mention that the security of whatever cryptocurrencies we happen to own depends on the security of our smartphones and computers, I felt that taking a detour into Google’s broken promise with regards to the strong default encryption it once touted would be appropriate.

It wasn’t even that long ago – just last fall, in reaction to the flurry of revalations concerning the NSA’s behavior leaked by Ed Snowden, Apple stepped right into the middle of the controversy by announcing that future versions of iOS (its operating system for iPhones and iPads) would feature strong encryption enabled by default. Law enforcement agencies across the country piled on criticism against Apple for taking that step.

(NOTE: By “strong encryption” I mean encryption that ONLY the devices user can decipher – rather than the more common approach, which has been to generate a User encryption key that that is also decodable by the hardware provider, whether they are Apple, Google or Microsoft).

Shortly after the announcement, and in a blatant “me too!” maneuver, Google announced that they, too, would be enabling strong encryption, turned on by default in the next version of Android.

Finish reading:
8  Economy / Service Discussion / Question regarding a faucet, payouts and dust on: October 25, 2014, 03:14:45 PM
I'm considering starting a faucet (either purely Bitcoin or maybe a multicoin faucet), and my question is how best to handle payouts. I see two approaches:

The first is to not payout until an account reaches a certain threshold, which would have to be somewhat higher than the transaction fee for sending the transaction. That would mean a long time between payouts.

The second approach would be to batch payouts - ie, once a total threshold is met (ie,0.01 BTC or even 0.001), construct a batch transaction to send payouts to everybody that is due. On one hand, people would get paid a lot quicker, but on the other, many of those payments would be considered "dust"

Or there could be a combination of the two, send a single payout transaction in a single batch, but only including recipients who had reached a preset threshold.

Just looking to you guys for guidance. Faucets not up yet so I'm not advertising anything, but if this is the wrong place for such a question, feel free to move it to the correct location.

9  Bitcoin / Bitcoin Discussion / Why I think Pantera Capital is wrong in their $4.2 million/BTC estimate on: October 08, 2014, 09:12:06 PM
Link to formatted story (RECOMMENDED):

Copy/Paste (not sure what the result will be, plus its over 2000 words!):

<img class="alignleft size-full wp-image-629" src="" alt="bitcoin-75px_featured" width="75" height="75" />The other day, a firm by the name of <a href="">Pantera Capital</a> released their rather bullish assessment of bitcoin's potential titled <a href="">"Gold Versus Bitcoin As A Store Of Value"</a>, which estimated that the future value of a single bitcoin could exceed $4 million ($4,291,060 if you want to be precise), which was released to an <a href="">extremely receptive audience on Reddit</a>.

I feel it's important to note that while it took me some time to come around to bitcoin (a friend first mentioned it to me in the 2010 or 2011 time-frame, to which I essentially just rolled my eyes and said "that's nice"), I have since seen some of the light and do think/will agree that bitcoin does indeed have a future. With that said, no matter how many mental leaps I make, I can't come close to agreeing with Pantera's assessment of the value of the technology.


<a id="Atlantic" name="Atlantic"></a>Strangely, on the first page of the report, by quoting an article titled <a href="">"Why the Gold Standard Is the World's Worst Economic Idea"</a>, by <a href="">Matthew O'Brien</a> from the <a href="">Atlantic</a>, Pantera makes a rather strong argument FOR fiat currencies. That quote can be summarized as follows:
<p style="padding-left: 60px;"><em>Exactly zero economists endorsed [returning to the gold standard] in a recent poll ... It <strong>prevents the central bank from fighting recessions</strong> by outsourcing monetary policy decisions to how much gold we have ... When we peg the dollar to gold we have to raise interest rates when gold is scarce, regardless of the state of the economy. <strong>This policy inflexibility was the major cause of the Great Depression</strong>, as governments were forced to tighten policy at the worst possible moment. <strong>It's no coincidence that the sooner a country abandoned the gold standard, the sooner it began recovering</strong>.”</em></p>
Pantera continues, explaining in their own words that <em>"inflation (and deflation) was much worse under the gold standard than it has been since"</em>, and that a return to such would not lead to any form of price stability.

So far, in their argument for bitcoin, Pantera has explained that the root cause of <a href="">Great Depression</a> was due to the <a href="">monetary inflexibility</a> (of course, <a href="">others disagree with that assessment</a>) that was imposed on countries who operated under the gold standard, that the sooner a nation abandoned the gold standard in favor of fiat currency, the sooner they recovered from the Depression, and that both inflation and depression have been far more pronounced when monetary policy is dictated by the supply of a scarce resource. While factual, I'd expect a pro-bitcoin article to gloss over such details, not emphasize them.

[caption id="attachment_794" align="aligncenter" width="500"]<a href=""><img class="size-full wp-image-794" src="" alt="Physical bitcoins by Casascius, because every article about bitcoin needs a picture of them." width="500" height="285" /></a> <a href="">Physical bitcoins by Casascius</a>, because every article about bitcoin needs a picture of them.[/caption]

<strong>But all that is just an aside, let me continue...</strong>

Citing the <a href="">World Gold Council</a>, Pantera shows that from 2010 through 2013, world-wide demand for gold amounted to 17,500 metric tons, of which 8,400 tons were used for jewelry, 5,900 tons were purchased for investment purposes, 1,600 tons in industry, 170 tons for dentistry and 1,500 tons were purchased by central banks (if you're using a calculator, I'll admit that the numbers won't total correctly, as I did some rounding).

<strong>Jewelry is not an investment in gold...</strong>

Pantera assumes gold jewelry to be an investment and argues that by moving their wealth from gold jewelry to bitcoin, and Indian family's (without access to banks, but presumably with access to the internet) wealth would be much safer.

[caption id="attachment_795" align="aligncenter" width="512"]<a href=""><img class="size-medium wp-image-795" src="" alt="Gold jewelry shouldn't be viewed as an &quot;investment&quot; in gold, but rather, as &quot;bling&quot;.  Image Source:" width="512" height="561" /></a> Gold jewelry shouldn't be viewed as an "investment" in gold, but rather, as "bling".Image Source: <a href=""></a>


Lets first point out that jewelry is one of the worst possible ways to "invest" in gold. Even <a href=";view=article&amp;id=105&amp;Itemid=115"></a>, (the link goes to a cached version of the site on Google's servers, as the "real" site has been defaced by hackers), lists investing in gold in the form of jewelry as one of the top 10 mistakes, saying:
<p style="padding-left: 60px;">"<strong>Remember that Gold Jewelry is not an Investment</strong> — As with nuggets, jewelry is an unreliable source of gold. Not only is the<em> purity of the metal once again a concern,</em> but there is also <em>the added artisan's premium present in all jewelry</em>. The cost applied by the craftsman who made the piece will <em>always inflate the price well past the value of the metal alone</em>. Therefore, while jewelry may have value in its own right, it has <em>no place in the hands of an investor</em> who is looking to own gold as an asset. (<em>Emphasis' </em>are my own)</p>
Essentially, gold jewelry is a means of displaying that one has wealth, but to use the jewelry a method to store that wealth itself is a terrible idea. Whether the national currency of India is Rupees or bitcoin, Indians who want to display that they hold significant wealth will contiune to buy gold jewelry. Gold is "blng", and bitcoin, existing only in the form of electrons, has no "bling" factor. Arguing otherwise is essentially trying to argue that as a result of an ec51%onomy moving to bitcoin, that demand for <a href="">Mercedes</a>' or <a href="">Rolex</a> watches will dry up. Right there, 48% of the gold demand which Pantera presumes that bitcoin could replace evaporates.

<strong>Bitcoins' "advantages" over gold. Are they really "advantages"?</strong>

Further along, when Pantera tries to explain the traits that bitcoin has but gold lacks, explaining that for gold miners to deliever the same service as bitcoin miners, they would have to provide armed guards, concealed tranaction values and a constantly updated ledger of transactions. None of these arguments make sense:
   <li>armed guards (why? miners don't guarantee the security of the wallet file on your computer),</li>
   <li>concealed transaction values (inexplicable; if I hand a gold coin to you, is that transaction not concealed from the rest of the world?), and</li>
   <li>a constantly updated ledger (for what? an up to date ledger is essential for a digital currency, yes, but for a physical currency, a ledger is of no added value - why do i need a transaction recorded in a ledger when I have my gold in hand?)</li>
Furthermore, in explaining bitcoins' advantages over gold, they state that bitcoin is superior to gold due to the difficulty of theft. Dig through enought bitcoin-related discussions on <a href="">Reddit's bitcoin-related threads</a> and <a href="">bitcointalk's forums</a> and you'll see that whether its because of a keylogger on one's computer, an exchange not using <a href="">2-Factor Authentication</a>, a user choosing an insecure method of generating a wallet (say, <a href="">brainwallet</a>, for example), or an <a href="">exchange</a> declaring that all of their customers holdings are gone due to a "bug" in the bitcoin protocol, bitcoins can be stolen just as any other asset can be.

<strong>Would nations really rely on the blockchain to store their wealth?</strong>

They also describe the network of bitcoin miners as being a robust form of security. While presently true that achieving enough computing power to conduct a 51% attack is beyond most people means, if a nation adopted bitcoin as their currency, I could easily envision a scenario where a rival, or a group of rivals, could be motivated to discretely and covertly develop and deploy their own network of ASIC miners in order to conduct <a href="">economic warfare</a> against that  state. And unlike the "limited" means that most of us have that places a 51% attack out of reach, once nation-states are in the game, there is no telling how many of their resources they would devote to such an effort. Just because such an event has not yet happened <a href="">does not mean that it won't</a>, ESPECIALLY if bitcoin became the official currency of a country.

[caption id="attachment_796" align="aligncenter" width="336"]<a href=";camp=1789&amp;creative=390957&amp;creativeASIN=0452287081&amp;linkCode=as2&amp;tag=dioxidizedcom-20&amp;linkId=2VLRWLSNPRSMT4N3"><img class="size-full wp-image-796" src="" alt="Economic Warfare a real occurrence, and a nation relying on bitcoin as its national currency would be especially vulnerable." width="336" height="506" /></a> Economic Warfare a real occurrence, and a nation relying on bitcoin as its national currency would be especially vulnerable.[/caption]

<strong>Supply Limits</strong>

Another "advantage" they cite is bitcoin's strictly limited supply, compared to the continued mining of gold. I struggle to see the relevance - 165,000 metric tons of gold <a href="">has already been mined</a>, and the <a href="">US Geological Survey</a> that Pantera cites says that there are an esimated 52,000 metric tons of gold still remaining underground. Meanwhile, bitcoin mining continues along, creating 3600 new coins per day, and though reward halvings will continue to occur roughly every four years, the full supply of bitcoin won't have been mined until the year 2140.

Aside from that, recall earlier in their report when Pantera pointed out how the flexibility of fiat currencies was "superior" to the inflexibility imposed by using an asset of limited supply as a means of conducting trade. Now, it is a supposed advantage? They need to take one side of the argument or the other, not both.

<strong>So where does that leave us?</strong>

For starters, bitcoin is incapable of replacing gold in dentistry and industrial applications, two sources that contibute $66,114 to the $4.2 million final estimated value that bitcoin could achieve. Neither would bitcoin replace jewelry, as jewelry is means of displaying value, not storing it. There goes another $286,496 of their estimate. While it could and likely will be used as a means of investment, indeed, it already is, it's foolish to think that the bitcoin would replace 100% of the gold presently held either in investment portfolios or in safes. Yes, it is another instrument that people can use to invest their wealth in, but it won't erase nearly 10,000 years of human history and cause demand for holding gold as an investment to zero. Another $88,153 off of the value

<strong>And the biggest item on their list, world M2 (money supply)</strong>

First off, to bear down on the same point yet again, circle back to Pantera's original <a href="#Atlantic">quote from the Atlantic</a> regarding the effects of a nation sticking with the gold standard versus fiat currencies, as a bitcoin denominated economy would operate in a manner far closer to one operating under the gold standard than one with fiat currency.

Secondly, from what I just pointed out above, I have difficulty imaging any nation wanting to switch to bitcoin as their nominal currency, knowing that another nation could concievably overtake and subvert the entire network. The two biggest threats in that scenario would be the United States and China, both of whom have a deep supply of people with the necessary skillsets to design the needed hardware and the domestic production capacity to create the needed hardware without drawing any outside attention until it is too late.

<strong>And where does that leave bitcoin?</strong>

Despite my arguments above, I believe that bitcoin is still an asset that could possess significant value; as a peer-to-peer currency, it allows individuals to send money to one another quicker than sending checks through the mail and more inexpensively that wire transfers or worse, money transfer services.

It can certainly be adopted by companies as a means of receiving payments to cut down on credit card processing fees. The challenge there is convincing the customer to opt to pay using bitcoin and abandon the incentives offered by credit card companies to "charge" their purchases. Bitcoin doesn't have reward points, for instance, and more critically, consumers lose the ability to charge back a purchase if necessary (for instance, if a company refuses to adhere to its refund policy), or, to take an example from the bitcoin community - if <a style="text-decoration: line-through;" href="">Butterfl</a>... I mean, a company,  takes orders for a product and doesn't ship those orders until a year had passed.

The lack of ability to reverse a bitcoin transaction is frequently cited as reason why biusinesses should adopt bitcoin, but there are also plenty of legitimate reasons why consumers prefer to have that ability besides try to defraud merchants.

One place where the lack of chargebacks shouldn't be a concern to consumers are for products/services that can't really be returned anyways. Dining. Haircuts. Digital purchases such as software or musc (an area where <a href="">Paypal's</a> subsidiary <a href="">Braintree</a> has already entered the market).

But for goods, especially from vendors whose ability or willingness to deliver those goods in a <a href="">timely manner might be in question</a>, most consumers will likely want a payment method that allows them to dispute the charge and recoup their money if the vendor doesn't honor their obligations.

<strong>That brings us to the next place where bitcoin can really shine - the remittance marketplace. </strong>

I fully expect bitcoin to either overtake or be adopted by <a href="">the remittance market</a>. For it to trully dominate, though, my personal thought is that bitcoins involvement in remittanes will need to be made transparent to the end-users; a remitter would simply walk into a store and hand their money to the cashier and provide instuctions as to where to send the funds. The transfer company would then buy bitcoins and send those coins to the branch were the receiver will be picking up their funds, who would then immediately sell those coins and deliver the proceeds in the recipients currency of choice.

[caption id="attachment_793" align="alignleft" width="500"]<img class="wp-image-793 size-full" src="" alt="fannie-mae_stock" width="500" height="434" /> The dangers of putting all your eggs in one basket, whether that basket is bitcoins, litecoins, or the shares of any single company is irrelevant.[/caption]

Lastly, bitcoin can absolutely serve as a means to store wealth, but in my view, only it's only appropriate to use it as "store of value" as part of a diviersified investment portfolio. Asset prices flucuate - storing all of ones wealth in bitcoin should be just as frowned upon as storing all of ones wealth in shares of a single company, say, Fannie Mae, for example.

To conclude, while I think that bitcoin certainly has value in the future, I think that the maximum value of a single bitcoin well below the $4,291,060 estimate published by Pantera, and disagree with many of the reasons that Pantera cites that bitcoin could or should replace gold rather than being viewed as an asset to own in addition to gold (and real estate, and equities, and bonds, etc).
10  Economy / Services / Blogger offering content to publishers and/or other bloggers on: October 01, 2014, 06:59:22 PM

I've taken up  bloggin on a variety of topics, an have seen that the posts that generate the most organic traffic by far and away the bitcoin-related ones. I don't really have much desire to spend money marketing my blog, especially since its hardly specialized (instead, I basically write about whatever is on my mind at the moment). So it got me to wondering if there are any publishers of bitcoin-related blogs that wanted a source of additional content. I should warn that while I am a supporter of bitcoin, my posts are hardly of the cheerleader type, rather I take a more pragmatic/contrarian approach to the subject.

For a full listing of my bitcoin related posts, please check out:

As for a selection of specific stories, here are a couple:

questioning the approach and feasibility of Circle's recently unveiled services:

The effect that ASIC's have had on the bitcoin ecosystem as a whole and the mining industry in specific:

Counterpoint to an article claiming that Facebook should buy bitcoins:

Bitcoin and the remittance market

So, if publishers are seeking additional bitcoin related content for their websites, I'd love to dicusss any potential possibilities. I would definitely want a by-line and perhaps a link back to my own site in my bio, and would be open to a variety of terms for compensation, either by the article or by the page view.

If any of this is of interest to anyone reading this, please let me know, either by direct message, replying to this thread, or emailing me at webmaster <at> dioxidized @dot@ com

11  Alternate cryptocurrencies / Altcoin Discussion / What is the best CPU-mineable altcoin to mine Today? on: October 01, 2014, 06:00:44 PM
What is the best CPU-mineable altcoin to mine Today, after factoring things like difficulty, exchange rates, etc. Keeping in mind, I have zero interest in the altcoin itself, just investigating using a few idle CPUs at my disposal to generate alts to trade for BTC.

While I'd prefer a coin with an open source, Linux client, I can be open to any other choices that may avail themselves.

So please, suggest away!
12  Bitcoin / Mining speculation / Has the transition to ASICs rally been of any benefits? on: September 30, 2014, 10:53:57 PM
I lean towards thinking that they've been a hugely detrimental development for the community, but I'd appreciate input, maybe some corrections where I'm wrong, especially being that my opinion is contrary to most of the opinions I see here z(spoiler: I think ASICs have done more harm than good.

I wrote an essay on the topic, but since it weighed in Around 1,700 words, I'm just posting a link rather than the whole essay.

Again, feedback would be much appreciates on either on either venue, but tbh, I'd tather receive any feedback over here.

Thanks all!
13  Other / Meta / Can i change my name on here? on: June 04, 2014, 03:23:15 AM
that's all, just wanting to see if its possible to change my name (so that things like my post history stay intact) rather than making a new account?

14  Economy / Economics / How would Satoshi prove his identity now on: November 25, 2013, 01:34:01 PM
First, i'm not sure if i posted this in the right topic or not.

But say Satoshi wanted to come forward one day, but everything electronic had been lost (say, he lost his computer and didn't have his private keys anymore, nor access to his email address). Would he still be able to establish who he was with everybody? Or would he just be shrugged off like people saying they're the new jesus - saying "well, that sounds daily convincing, but if you can't sign your message with the private key to one of your old wallets, tough luck"?
15  Economy / Goods / Suits for bitcoin? on: October 17, 2013, 09:45:07 PM
Ok guys, here me out.

I'm trying to gauge the interest in custom tailored suits by mail. Like, buyer sends his measurements and a front and side photograph, selects colors for the suit and the lining on a website, along with buttons, cuts, etc, and then has a suit delivered to their home or office, 3 or 4 weeks later.

Probably in the $350 or $400 price range; basically, you could go to jc penny, find a suit and have them take up or take down the pants and sleeves, or spend the same amount and have something tailored specifically to your liking. Other places, like men's wearhouse, etc, we'd generally be much cheaper than, especially considering quality for the price.  The issues I see are the turnaround time (3-4 wks), so no instant gratification, and the inability to actually touch the materials until delivery. I'm not sure how much of a hangup that second part especially would cause for potential buyers.

So I'm asking you, bitcoin community, would you be interested in purchasing suits, slacks, sport jackets and/or ties for bitcoin? Or are you more content going to the store to purchase them with dollars?

Please let me know your thoughts...
16  Economy / Computer hardware / 6 USB block eruptors for salemnbyj on: October 07, 2013, 06:25:00 PM
Any offers at all?!
17  Economy / Services / Alt Coin Developer needed on: August 20, 2013, 01:50:55 AM
Need someone with experience with the various alt-coin code bases.

Looking for someone who can implement Scrypt-N (Scrypt Jane) and Proof of Stake, with various changes to the parameters of the coin. I can copy and paste and do a few find and replaces - I need more than that though.

Would also want a block explorer and mining pool created.

Please contact me for more information, as well as providing a basic quote for your services. (I understand it will be a rough quote until you've got all the details, but just want a way to gauge if you're asking far too much or far too little).

Thank you!
18  Economy / Computer hardware / 4 BFL chip credits 0.05 btc or best offer takes all on: August 06, 2013, 02:31:32 AM
I'm certainly nit ponying up for 100 chips. Anyone want? 0.05 btc or best offer for all. Won't break up (they're so few, what would it matter?)

If any wants, reply or message me. I've got a reputation thread on here with a couple of transactions.

Thanks for looking! Going to sleep. I'll contact people in order of their offer and the time they posted when I get up tomorrow'
19  Alternate cryptocurrencies / Altcoin Discussion / Any alt-coin developers located in South Florida? on: July 31, 2013, 01:40:21 PM
Subject says it all. Looking to collaborate with someone real (as opposed to with an online persona). Let me know.
20  Alternate cryptocurrencies / Altcoin Discussion / scrypt and merged mining? on: July 30, 2013, 12:47:02 AM
Hey there. I'm wondering if anyone can help me find what I'm looking for, which is a scrypt-based coin with a shared blockchain/merged mining with Litecoin. Not 100% on how that works, some places I read that the merged mining is done as part of the coin (ie, when namecoin adopted a merged mining capable blockchain, they basically had to cut off transactions to their old chain and make sure they got to the new chain instead), while other sources seem to say that it's just a function that mining pool operators can choose to use or not? Any idea which way it goes?
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