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1  Bitcoin / Bitcoin Discussion / Is it better to hold 8 btc split to 8 different addresses or into one single add on: May 30, 2015, 09:14:57 AM
Well, as the title says, imagine if all those are kept in offline paper wallet which would be your preference in terms of ease of use and security. The advantage I can see having to manage 1 btc in 8 different addresses is that if let's say one of it ended up getting hacked or compromised, it's likely that the rest are still safe. Or if you lose one private key, you still have the other 7.

On the downside, what i can see is the hassle associated with managing 8 different private keys.

I'm sure there are other pros and cons. Your thoughts?
2  Bitcoin / Bitcoin Discussion / Anybody notice the 100btc transaction fee on 27th April? on: May 01, 2015, 08:53:37 AM
I was looking at the stats and noticed that the transaction fee was at 100btc even though the number of transaction on that day was just a slight increase compared to the day before. It wasn't the highest though but I believe it has been quite some time though since we last seen that during the Mt Gox era

Just wondering what might have caused that because the first thing that comes to my mind was somebody accidentally or wrongly inserted the decimal point when adjusting the sending fees when performing transaction.

3  Other / Off-topic / How many of you signature campaign posters sell your coins once you received it? on: April 22, 2015, 10:11:35 AM
Just like what the title says. Just curious because your actions in part (although not significant) will also determine how many of these coins actually ended up back in the open market? Let's just be honest here because saying and really doing it are two different things. Just want to find out if you are a true advocate or believer in the system because I saw quite a number in the forum who tells about earning through campaigns, hoarding or even buying the coins to help the price, but is it really true? Or you are just there to earn and convert the coins to buy your phone credits and games pass.

For me all my coins are still intact until today
4  Economy / Service Discussion / cryptoine hacked on: March 24, 2015, 03:14:16 PM
If you check the website it clearly indicates that a hack took place whereby there's a bug in the trading engine which got exploited. Apparently there is no word yet whether there were loss of coins stolen by the attacker. What do you think will be the implications towards bitcoin as a whole?
5  Bitcoin / Bitcoin Discussion / Credit Suisse writes about Bitcoin on: March 21, 2015, 08:21:35 AM
Well, as what the title says, Credit Suisse, the Swiss financial services just recently wrote about bitcoin. And if you are a fan of collecting the gold bars, the name should also sound familiar. Although there is no special information in the article but at least for them write about bitcoin, shows that they are really serious about bitcoin. Here are some quotes on what they think

Do bitcoins have the potential to become commonplace and to dislodge the money monopoly from the central banks? The outlook is not good. Even if distribution as a means of payment continues to increase, the system's advantage decentralization is also its biggest drawback. Unlike legal tender, there is no authority that guarantees the value of the currency, and bitcoin does not benefit from the resulting confidence. In the end, this confidence is crucial for any currency whose usage extends beyond the exchange of goods.
6  Bitcoin / Bitcoin Discussion / Affiliates and Advertising Network paying in bitcoin on: February 27, 2015, 08:29:11 PM
I think we have missed out affiliates and advertising network. What I'm referring to is basically something like having adsense, chitika, commission junction, where all those pay per click, ppc or even cpa program are giving out the options to actually receive your monthly payment in btc. Just thought it would be great considering the fact that adsense is one of the largest advertising network and basically providing btc option will mean good exposure to all the online marketers.

Hope to see this becomes a reality someday.
7  Bitcoin / Bitcoin Discussion / When 1 bitcoin is equal to 1 bitcoin.. on: February 13, 2015, 11:30:12 AM
Let's face it..As long as we continue to benchmark bitcoin against fiat, we can never reach that stage to independently claim "1 bitcoin is equal to 1 bitcoin" and that is no matter how hard you tried to convince people. Mainly this is what I feel is lacking and what I envision for bitcoin to become a currency of its own.

So here's my thought.

For an Individual's perspective
A person earns his wages in bitcoin (we are there)
A person can spend his earning to fulfill all his daily needs which means he/she can buy anything, and I mean anything with bitcoin (Something we are lacking because not all goods and services accept bitcoin)
If we have goods priced only in bitcoin and accept no fiat for it (that would be the best, but I see this lacking)
At the end of the month, refills back his spending power from his monthly wages paid in bitcoin
A portion of his earning, not spent is kept in the wallet and HOARDED...and yes, hoard all you want

For a business entity
Make available products priced in bitcoin
Accounting ledger and reported earnings all done in bitcoin
Pays workers' wages in bitcoin

So what I'm trying to say here is that as long those two infrastructure or components are there, we are basically on our own enclosed ecosystem

What prevents bitcoin from taking off is basically:
#1 : The spending part where we can't buy all the things we want using bitcoin
#2 : Lack on the number of company/business entity which is bitcoin oriented

Basically we are telling people to spend. But the actual fact or scenario is that we can spend but at the same time, we need to buy back to cover the amount spent or else it will just be a net drain of fund which leads to nothing for bitcoin. However, if we manage to establish the ecosystem here, we are basically on our own. Free from fiat and that is when 1 bitcoin is equal to 1 bitcoin..
8  Bitcoin / Bitcoin Discussion / Reputation System for Bitcoin addressses on: February 03, 2015, 12:47:23 PM
Question we have is that is anonymity so important?
9  Bitcoin / Mining speculation / This time the hash rate really took the dip on: January 14, 2015, 02:19:41 PM
Well...... all the while when price was dropping, we could still see the hash rate that moves steadily up on an increasing trend. But this time round it is different. You could clearly see the dip. Check out the blockchain info stats.

Question is have we finally reached the point where miners will no longer be able to sustain their operation?
10  Bitcoin / Bitcoin Discussion / Ericson white paper report on Cryptos on: January 10, 2015, 11:11:05 AM

Yeah, and the fun begins starting from pg 21. A good read though
11  Bitcoin / Development & Technical Discussion / Chances to find HD wallet with fund on: January 03, 2015, 03:48:10 PM
Okay, not sure if this has been discussed before but I 'm just wondering how possible it is for a hacker to find a HD wallet with fund (via means like brute force)? Before I move on further, you might probably counter that by saying for 128-bit that would translate to 2^128 = 3.402810^38, so it will be almost impossible to come across one seed address that contains fund and that would take eternity which makes the whole effort pointless to hack.

But what if the scenario changes in 20 years to come when the bitcoin has achieved that level of mass adoption. Imagine if let's say there are 8 billion human population and half of that numbers adopted bitcoin. That would give 4 billion and that is assuming every single one of these users only has one seed account.

Thus instead of probability of 1/3.402810^38 to find an account, you now have 1/1.701410^29. In this scenario you still won't be able find it easily but with increased probability and advancement in computer technology which let's say able to churn out approx one million of balance checks per second in 20 years time, how feasible would that be to find a seed that contain fund in it?

Note that I'm not trying to create FUD here but merely looking at security point of view and possibilities when using HD.
12  Economy / Speculation / $300 proven to be strong support level on: December 23, 2014, 10:54:42 AM
If I'm not mistaken, bitcoin price has hit $300 (well almost, +/-) for at least 3 times in the last 4 months and from this trend, I'm pretty sure $300 is the firm support level. That means if price were to go anything below that, bitcoiners will not hesitate to buy and grab all of it to push it up again. From your perspective or point of view, do you guys think it's going to happen again? and if this yo-yo price rebound does maintain, it's a good opportunity to make money from trading.
13  Bitcoin / Bitcoin Discussion / Statistics collected on number of bitcoin users on: December 13, 2014, 07:58:59 AM
As what the title says let me give you an example of what i mean. I'll just take the pool of friends and family members including colleagues and acquaintances that i know. Out of a pool of 50 people there are only 3 persons who are into bitcoin and another into dogecoin. In other words that means (just) among those that i know it is something like 6% adoption rate while 8% overall for crypto.

My question is... is there any real statistic that tells you roughly how many people according to geographical location that shows the adoption rate. Like for country to country. Any data collected thus far. Or any work done by the foundation to measure the progress on adoption rate. Any estimate?
14  Bitcoin / Bitcoin Discussion / How many of you consolidate your bitcoins? on: December 06, 2014, 03:11:09 AM
Well I'm definitely one of them. Also considered a freak. Why I say that is because I usually make it a routine (better word compulsory) to transfer between addresses and usually I try to keep the transaction size small (<1000kb) by having three transactions max received per address. Also this is done by waiting for the transactions to age (usually about 1 week) before I can transfer for low fee or sometime for zero fee and then consolidate to combine into a single output.

Any of you guys do that or you will just leave it there?
15  Bitcoin / Bitcoin Discussion / Is there a Hidden Secret Code in bitcoin protocol??? on: December 02, 2014, 10:49:38 AM
Ok basically if you need to do a hardfork, one node needs to tell the rest that says "hey now i got new rule" so you all need to follow my lead. So what if let's say another node that control the majority of the hash rate decides otherwise and ignores it. So in reality that would not be possible right? And how do we get it done if that is the case???

I remember before that sometime back (not sure if the site is still around) that i read that there is a secret handshake that once established it will allow one particular node to dictate the terms and it's well hidden. I mean satoshi must have a backup plan or something right in case they need to immediately apply a patch?Huh

Anyway most of you might say the codes are at github. But question is have we really audited and understand every single line?Huh
16  Bitcoin / Bitcoin Discussion / Altcoin that will one day replaces bitcoin on: October 04, 2014, 12:06:09 PM
I don't have an answer to that but looking at all the other alt coins i would say none have come close

In order to take the No 1 spot, that coin would have to be something that can solve all current btc weaknesses and with new technology. Probably fresh new codes. Only few coins that is not based entirely on btc codes like monero, ripple but i don't think that could change.

Well the possibility is there that someday that there will be one revolutionary coin that will dislogde btc spot

Your views?
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