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1  Bitcoin / Bitcoin Discussion / The Potential Fatal Flaw in Bitcoin on: February 28, 2018, 04:28:32 AM
Been AFK for a minute.

Let me start by saying...as many of you know, I've been involved with BTC since 2013 and am a long time believer in Bitcoin and blockchain. But I try to look at things objectively and am always open to new perspectives. This op-ed published in Bitcoin Magazine today got me thinking. Makes some interesting points worth considering. Could the open-source nature of the new web be the very thing that hinders it...?

https://bitcoinmagazine.com/articles/op-ed-potentially-fatal-flaw-open-source-blockchain-protocols/
2  Bitcoin / Press / [2016-06-17] Bitcoin Competitor Hacked on: June 17, 2016, 03:47:22 PM
From ZeroHedge: "Finally, all of this just goes to show that when it comes to "money", whether digital, paper, or hard, there is simply no replacement to being able to hold it in one's hand..."

http://www.zerohedge.com/news/2016-06-17/bitcoins-largest-competitor-hacked-over-59-million-ethers-stolen-ongoing-attack
3  Economy / Collectibles / What happened to Casascius premiums...? on: June 13, 2016, 04:14:36 PM
Been AFK for a while...come back to find BTC value skyrocketing, but Casascius premiums plummeted...what gives...?  Since when did we start asking mid-teens for 10BTC silvers and selling gold 1BTC MS69's under 3BTC...?!  What the heck's goin' on round here...??
4  Bitcoin / Press / [2016-03-02] The Verge: Bitcoin's Nightmare Scenario Has Come To Pass on: March 02, 2016, 11:23:56 PM
Hold on to your arse...this oughta be interesting...

http://www.theverge.com/2016/3/2/11146584/bitcoin-core-classic-debate-transaction-limit-crisis
5  Economy / Exchanges / BTC-E under DDoS attack on: January 07, 2016, 07:13:11 PM
Please forgive if this is "old" news and already posted, but it seems that BTC-E is under a DDoS attack and the site has been down for a few hours.  Anyone have further updates or info...?

https://twitter.com/btcecom?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
and
https://btc-e.com/
6  Other / Meta / What do you think about adding a Physical Cryptocurrency section to the forum? on: August 17, 2015, 02:24:14 PM
So I sent the PM below to theymos about a week ago, inquiring about the possibility of adding a Physical Cryptocurrency section to the forum.  Haven't heard back yet, but in the interim, thought I'd get a pulse from the community regarding just how much interest there might be for adding a place on Bitcointalk dedicated to physical crypto.

Take the poll and post your thoughts here either way...to help give a better sense of if this is something that might be wanted and/or needed...

Hello theymos--let me thank you in advance for reading and considering this perspective...

I was wondering if you, the staff and mods had given any thought to adding a section on the forum for physical Bitcoin like Casascius coins and the thousands of other physical iterations in existence for BTC and alts alike.  And if so, what the plan might be?  Physical Crypto are no longer just fancy wallets.  The sector is becoming quite significant and growing exponentially, with the boom in physical bitcoin grading through companies like ANACS, the oldest coin grading firm in the US.   In a groundbreaking move, the traditional ANACS coin grading institution even added a Physical Cryptocurrency category to their new order form a few weeks back, due to overwhelming demand. 

Beyond the storage and economic value, the collector base for these physical versions of digital currency is also growing in-kind, as is its numismatic value.  There is even "A Collectors Guide to Physical Crypto Coins" being created.

As digital currency continues to evolve out of its infancy and matures into a powerful global economic force...the various applications and manifestations it takes on should be recognized.  I'm guessing that the creation of a Physical Cryptocurrency section on Bitcointalk would be cheered and extremely popular...right now these many folks are having their discussions on the topic across various sections of the forum in a rather disorganized and haphazard manner.  Would be great to bring this sub-community together in earnest.

Thank you again and appreciate any feedback and perspective you may be able to provide.
 
7  Bitcoin / Press / [2015-07-04] CoinDesk: Bitcoin Backed By Time on: July 04, 2015, 01:40:49 PM
Good Stuff...

http://www.coindesk.com/forget-gold-bitcoin-is-backed-by-time/
8  Bitcoin / Press / [2015-03-30] CNN and USA Today: Former Feds Charged With Stealing Bitcoin on: March 31, 2015, 11:42:11 PM
Oyy...

http://www.cnn.com/2015/03/30/politics/federal-agents-charged-with-stealing-bitcoin/
and
http://www.usatoday.com/story/news/2015/03/30/federal-agents-charged-with-stealing-bitcoin-from-silk-road-case/70672058/

9  Bitcoin / Bitcoin Discussion / What did you learn about Bitcoin today...? on: March 27, 2015, 12:14:07 PM
So it's been about 18 months since I first heard about the revelation that is Bitcoin...and the learning curve has been astounding.  The more I think I know, the more I realize just how much more there is to learn!  Perhaps the most exciting thing is that there is so much about Bitcoin and its full potential that the world has yet to discover at all...

Anyway...would be interested to hear when someone learns something, anything really, about Bitcoin.  Doesn't matter if it's a basic how-to, an interesting fact, a new way to spend/procure it, news, lesson learned or some new breakthrough or groundbreaking discovery!  Let's hear it...
10  Bitcoin / Press / [2015-03-24] Fortune: Regulation is Coming on: March 24, 2015, 11:10:38 PM
http://fortune.com/2015/03/24/bitcoin-regulated-exchanges-winklevoss-coinbase/
11  Bitcoin / Press / [2015-03-20] CoinDesk: Changemoney.org on: March 21, 2015, 03:38:06 AM
Anyone had any experience with this yet...?

http://www.coindesk.com/bitreserve-tool-lets-you-watch-bitcoin-transactions-in-real-time/
12  Bitcoin / Press / [2015-03-20] CoinDesk: Treasury Report...Bitcoin Startups React on: March 21, 2015, 03:28:03 AM
http://www.coindesk.com/treasury-report-uks-bitcoin-startups-react/
13  Bitcoin / Press / [2015-03-13] Business Insider: 21 Coming... on: March 14, 2015, 11:11:54 PM
Anyone know anything about this...?

http://www.businessinsider.com/a-stealth-startup-called-21-has-raised-116-million-to-take-bitcoin-mainstream-2015-3

14  Bitcoin / Press / [2015-03-01] Wall Street Journal: Does Bitcoin Have a Future...? on: March 03, 2015, 07:18:48 PM
Late in posting this, but nice read contemplating both sides of the great unknown...

http://www.wsj.com/articles/do-cryptocurrencies-such-as-bitcoin-have-a-future-1425269375
15  Bitcoin / Press / [2015-02-05] Italian Central Bank: No AML Requirement for Bitcoin Exchanges on: February 06, 2015, 12:24:19 AM
Will be interesting to see if this stance, pursuant to the EU's similar position taken last Summer, has any kind of farther-reaching implications across the Bitcoin ecosystem.

http://www.coindesk.com/italian-central-bank-no-aml-requirement-bitcoin-exchanges/
16  Bitcoin / Bitcoin Discussion / Facebook, Many Others Could Start Using Bitcoin After Today's Adyen-Bitpay Deal on: February 03, 2015, 06:33:55 PM
Adoption continues to grow exponentially...BTC trajectory seems to be established and only gaining in momentum, regardless of exchange rate and other sentiment to the contrary.  A truly unpredictable market, creating such odd, yet dynamic juxtaposed forces.  

From IB Times:
Facebook, Spotify and Ryanair could accept bitcoin from today following BitPay deal
http://www.ibtimes.co.uk/facebook-spotify-ryanair-could-accept-bitcoin-today-following-bitpay-adyen-deal-1486361
17  Bitcoin / Press / [2015-02-03] International Business Times: Facebook, Others Could Accept Bitcoin on: February 03, 2015, 06:21:49 PM
http://www.ibtimes.co.uk/facebook-spotify-ryanair-could-accept-bitcoin-today-following-bitpay-adyen-deal-1486361
and confirmed on CoinDesk:
http://www.coindesk.com/bitpay-partners-1-5-billion-international-payment-startup-adyen/

Facebook, Spotify and Ryanair could accept bitcoin from today following BitPay deal
Payments platform Adyen has integrated with the world's leading bitcoin payment processor BitPay
Over 3,500 merchants around the world use Adyen to process transactions
Anthony Cuthbertson By Anthony Cuthbertson
February 3, 2015 10:05 GMT193 348  
bitcoin bitpay adyen
BitPay's partnership with Adyen opens up more than 3,500 merchants around the world to the possibility of easily integrating bitcoin payments(Flickr/ CC)
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Payments platform Adyen has integrated with the world's leading bitcoin payment processor BitPay, opening up the possibility for Facebook, Spotify, Ryanair and thousands of other merchants using Adyen to accept bitcoin.

More than 3,500 merchants around the world use Adyen to process transactions, including four of the five largest US internet companies.

"It's such a great partnership," said Sonny Singh, chief commercial officer at BitPay, speaking to IBTimes UK. "Adyen's focus on e-commerce is perfect for bitcoin. It means firms don't need to overcome the integration issues with bitcoin as it will now be already included in their existing infrastructure."

UK-based games developer Jagex will be the first to enable bitcoin payments for its customers through Adyen, though Adyen's BitPay integration will mean any merchant using the platform will be able to easily allow bitcoin payments in the future.

It is understood that a major US-based firm will follow in Jagex's lead by accepting bitcoin in the coming months through Adyen.

The Netherlands-based firm processed $25 billion (16.5bn) in transactions in 2014 and recently raised $250m in a Series B funding round that valued the company at $1.5bn.

"Interest in bitcoin continues to grow among merchants," said Roelant Prins, chief commercial officer at Adyen.

"As a business focussed on merchant needs, we are excited to give merchants the ability to securely accept bitcoin payments, alongside over 250 payment methods and 187 transaction currencies that we currently offer."

BitPay already supports bitcoin payments for a number of high-profile companies, including Microsoft, WordPress, Gyft and Virgin Galactic.

According to the latest estimates from BitPay more than 100,000 merchants around the world now accept bitcoin. Of these merchants, 53% accept the cryptocurrency using BitPay.

"Merchants choosing Adyen and BitPay will receive all the advantages of working with a stable, scalable payments platform, where bitcoin is seamlessly integrated into the Adyen payments flow, reporting, and settlement," said Tony Gallippi, BitPay's Co-founder and Executive Chairman.

"Adyen is a great company and a strong partner to help expand bitcoin adoption worldwide."
18  Bitcoin / Press / [2015-02-03] CoinDesk: Bitcoin Elite Closed-Door Caribbean Meeting This Weekend on: February 03, 2015, 06:18:21 PM
http://www.coindesk.com/bitcoin-elite-meet-secret-island-bilderberg-style-retreat/
And list of some of the possible attendees here:
http://insidebitcoins.com/news/bitcoin-committee-of-50-to-gather-at-caribbean-island-for-the-satoshi-roundtable/29488
19  Bitcoin / Press / [2015-02-03] CBS: Does Bitcoin Still Matter? on: February 03, 2015, 06:10:02 PM
http://www.cbsnews.com/news/does-bitcoin-still-matter-age-of-cryptocurrency/

Bitcoin has a marketing problem.

Talk of the digital currency has petered since its introduction in 2009, and much of what remains hasn't been good for P.R. Discussions about Bitcoin can sound like inscrutable technobabble to non-adherents (most people fall into this category), and the system has been dogged by hacking and fraud, making a concept that is hard to wrap your head around also hard to get behind.

But the establishment in late January of the first regulated U.S.-based Bitcoin exchange, by Coinbase, a major broker, may help legitimize the Bitcoin and protect investors. The second such exchange is in the works, fronted by Cameron and Tyler Winklevoss, two of the largest-known holders of Bitcoin currency.

"Bitcoin has a sales job to getting people to trust it, which is ironic because it was set up to be a trustless system," said Paul Vigna, who co-wrote with Michael J. Casey "The Age of Cryptocurrency: How Bitcoin and Digital Money are Challenging the Global Economic Order," released Jan. 27. "It is sort of opaque and hard to understand and esoteric because it is so new."

About $50 million worth of Bitcoin transactions are done on an average day, a drop in the bucket compared with the tens of billions performed by the likes of Mastercard and Visa, but not a negligible amount. Businesses such as Overstock.com are beginning to accept Bitcoin as a payment option and some companies even pay employees in Bitcoin.

For better or worse, Bitcoin is not going away any time soon, and Casey and Vigna contend that digital currency could change the global economic landscape and prevent financial collapse.

Or not.

Either way, there are some good reasons not to ignore it -- even if you want to.

Bitcoins are just as meaningful (and meaningless) as dollars
The mere concept of Bitcoin is hard to grasp, in large part because there's nothing, literally, to hold onto. But, Casey argues, "Money doesn't have to be tangible to have intrinsic value."

We think of a dollar bill as having value because we know the value of a dollar. In truth, a dollar is just a token that represents the trust you put in the government that its value will be upheld. Moreover, most of our transactions don't happen in cash anyway. And just like any currency, the dollar could collapse, however hard that might be to imagine.

"The difference of Bitcoin is it's a piece of software," Vigna told CBS News. "It replaces trust with software and math. You don't have to 'believe' in the system, because the system is being proven."

They're not regulated by banks or the government
The earliest pioneers of cryptocurrency founded the movement on libertarian principles of freedom from central authority. They believed it could "fundamentally alter the nature of corporations and of government interference in economic transactions," ending a reliance on central banks.

Bitcoin is open-source and fully decentralized, controlled by algorithms and policed by its users. "Many decided it was better to trust this inviolable-algorithm-based system than the error- and fraud-prone human beings that run the large institutions at the center of the old monetary system," the authors wrote in their book.

If the 2008 banking crisis taught them anything, it was that "the centralization of money is destructive and that attempts to change that from within would fail. The solution could only be true decentralization, by coming up with a brand-new, rebel monetary system" -- the system we see today, exemplified by Bitcoin, but including hundreds of other, smaller so-called alt-coins.

Right now it takes three days to pay for a pizza
When you walk into a pizza shop to pay for a pie, there are many people and institutions in on the transaction beside you and Papa John.

While you're at the counter, your information is sent to a front-end processor, which locates the bank that issued your card and confirms validity and that there are sufficient funds. The bank's payment processor gives the OK, which the front-end processor passes along to the pizza shop's bank. That's when the "authorized" message pops up at the register.

You grab the box and head home, but the transaction is far from over. The pizza place's bank will give it the money for your pizza, then request -- via a clearinghouse network -- reimbursement from your bank, which will only release the funds after its fraud team deems the transaction kosher. If there's anything fishy, they'll start an investigation. The whole process can take three business days.

With Bitcoin, it's just payer and receiver. "Two people can send money to each other in 10 seconds" -- even across oceans -- "and the cost is nil and the whole thing is confirmed inside of 10 minutes instead of three days like the banking system, which includes a half dozen institutions," said Vigna. "That's the real innovation; it takes the system that exists and digitizes it, puts it online and takes out the costs and waiting."

It could elevate the billions of "unbanked" out of poverty
"Roughly 2.5 billion adults in the world don't have access to banks, which means somewhere on the order of 5 billion people belong to households that are cut off from a financial system that we take for granted," Casey and Vigna wrote. They don't have checking accounts, or savings, and can't get a credit card. "They remain effectively walled off from the global economy."

For these billions of the "unbanked," Bitcoin could be the towrope that pulls them into financial solvency. They may not have bank accounts, but almost all of them have a phone -- and that's all you really need.

It only takes an Internet connection to store, send and receive Bitcoins. And if your phone doesn't have 4G, services are cropping up that act as the middleman, translating a simple SMS text message into a monetary transaction, for a small fee.

"If you can text," Casey said, "you can offer them a way to bootstrap themselves into the 21st century."

20  Economy / Scam Accusations / Senior Member oscarftw has not yet repaid loan as agreed on: January 28, 2015, 12:46:36 PM
What happened: Loaned 0.3BTC interest free to oscarftw on January 19, with due date of January 26 by midnight GMT.  Late fee of 0.1BTC applies for each day late thereafter.

Scammers Profile Link: https://bitcointalk.org/index.php?action=profile;u=233580

Reference Link: https://bitcointalk.org/index.php?topic=871938.msg10205779#msg10205779
Amount Scammed: 0.3BTC plus daily late fee, total due currently 0.5BTC as of January 28
Payment Method: BTC
Proof of Loan Funding: https://bitcointalk.org/index.php?topic=871938.msg10205980#msg10205980
PM/Chat Logs: https://bitcointalk.org/index.php?topic=871938.msg10288301#msg10288301
Additional Notes:  Negative feedback left.  Awaiting response from oscarftw in order to resolve.
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