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1  Economy / Service Discussion / Is verification required if you change from BTC to USD on BTC-e? on: January 24, 2014, 05:32:07 AM
Is verification required if you change from BTC to USD on BTC-e?

Or is verification only required when you ask for a bank wire?

Are there any other exchanges that allow what I have described?

I've successfully exchanged LTC with BTC without verification, but what if I were to use the BTC/USD and LTC/USD trades?
2  Economy / Trading Discussion / BTC-E still stuck in the past with network transaction fees? on: January 08, 2014, 12:15:57 PM
I've just conducted my first transaction on BTC-E after coming across from Bter.

I noticed that btc-e pay 0.0005 network transaction fees whilst bter pays 0.0001. Both transactions make it to the next block.

That goes to explaining why btc-e charge a higher bitcoin withdrawal fee. I also noticed that due to this fee, sometimes it may be more favourable to conduct a transaction on bter after accounting for the reduced fee.

3  Bitcoin / Bitcoin Discussion / Vanity Genning someone's address? on: January 03, 2014, 12:31:01 AM
I just noticed that someone has managed to generate 28 out of the 34 characters of an address.

https://blockchain.info/address/1CounterpartyXXXXXXXXXXXXXXXUWLpVr

Unless of course someone is just sending $0.40 of bitcoins into a void. Although, I'm more inclined to think that someone has cracked it.

I remember there was an article about generating the first few characters, up to 30 is really fast. It's the last few which are harder. So, the question still remains about whether due to the NSA issues, whether the cryptography is still safe.
4  Other / Beginners & Help / Coinworker, BitcoinGet, Abitback + Other Websites - RIPOFF on: December 12, 2013, 09:40:51 AM
Has anyone noticed that the payment per task is 1.5 cents on average through Coinworker, BitcoinGet, Abitback and other websites.

Whilst on neobux you get paid 7-9 cents per task...

It is actually in everyone's best interest to click there, get payout to paypal and then buy bitcoins.

If you don't believe me, go do some research on the crowdflower task payout.

No referral links posted.  Grin Cheesy I have nothing to gain.
5  Bitcoin / Wallet software / Lightweight BTC Wallets with no transaction fee enforced on: December 11, 2013, 07:47:12 PM
Are there any lightweight wallets that don't enforce a transaction fee?
6  Other / Beginners & Help / Any reasons behind not dropping the 0.01 BTC limit? on: December 06, 2013, 01:51:07 AM
Are there any reasons why the transaction fees have dropped to a point where Eligius is pretty much pointless, but the standard free transaction criteria haven't changed at all?
7  Alternate cryptocurrencies / Altcoin Discussion / Protoshares - Unusual Marketing on: December 03, 2013, 09:02:25 AM
Protoshares Unusually Tricky Marketing

http://www.youtube.com/watch?v=DnNPX8wc1tc

Has anyone noticed that there are some inconsistencies in their marketing material. For example, USD/BTC is already a transparent price on each exchange. Just because you open another exchange doesn't mean that the price will converge to anything near that price. In fact most people already use a weighted average of the current exchanges. Furthermore, it mentions that BTC/USD would be devoid of any manipulation. What market isn't? If there was manipulation, wouldn't it be possible to manipulate bitshares as well? The argument is faulty.

Looks a lot like the same marketing style of Banners Brokers... BB talk up the prospect of earning advertising revenue and then overstate the earning prospects and the actual benefit which they provide to advertisers and consumers.

http://www.listenonrepeat.com/watch/?v=gIAsHkU72B
http://www.youtube.com/watch?v=gIAsHkU72Bc

Note it has been severely restricted on youtube, so a listenonrepeat link is included for your viewing pleasure and to avoid a nasty signup to Google+.

Furthermore, it really isn't a prediction market if no one decides to follow the prices. In fact the best prediction market is one exchange such as BTC-China going up in price and then the others following soon after. That's an efficient market. Bitshares provides no means to confirm any of it's theories.

We must all hang together, and we already do, with the current system. Why create a prediction market where it is devoid of any true meaning. You can take a look at the bets on earthquake insurance. It is no where near the correct price because not many people know when it's going to happen. A similar comparison can be made with predicting the bitcoin price, as the price rises dramatically at first, but that first prediction is very hard, it's like predicting the first shock of an earthquake rather than the aftershocks. The aftershocks are more likely a consequence of the actual earthquake, in relation to bitcoin pricing the aftershocks are the momentum that continues to push up the price after the initial shock. Another bigger problem is why would you speculate on a secondary market rather than the actual market where you can influence the actual price rather than playing with a phony ETF like option. Remember ETFs track closely but are not the actual prices. Worst of all, there is no theory to why bitshares would track anywhere near the actual prices.

Prices are only accurate and effective in trade for a specific time. Otherwise why wouldn't people create a prediction market, i.e. not a futures market, but a prediction market for agriculture. It doesn't work, the actual tool is broken.

Discuss. By pointing out the flaws of the system, we are colloborating rather than keeping the flaws hidden and laughing behind our backs.

Apparently by people power, bitcoin's block size has now been cleared for an increase in the near future. Let's see if we can't fix the concept of bitshares before it is finally launched.
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