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1  Economy / Economics / Currency War Imminent on: February 07, 2013, 08:37:35 PM
Great quote from this article:

“Devaluing a currency is like peeing in bed,” a Federal Reserve official told The Journal. “It feels good at first, but pretty soon it becomes a real mess.”
2  Other / Off-topic / Civilized Discourse Construction Kit on: February 07, 2013, 08:52:24 AM
Anyone played around with Discourse yet?  Looks really nice, especially compared to traditional forums.

source code
3  Economy / Securities / Possible claims process for GLBSE assets. on: November 19, 2012, 04:51:26 AM
I believe I might have a possible solution for asset issuers for claim processing since it looks doubtful every passing day that Nefario is seriously going to send out the asset information.

I was looking through my GLBSE account history as downloaded from GLBSE in csv format and I noticed that there is the bitcoin address for withdraw and deposits.  This information is invaluable as it can be checked against the blockchain for confirmation.  Also the asset history has a list of all purchases and sales of assets and we have a history of all the orders.

This might be time consuming, especially for the large issuers, but it is a potential way that assets can be claimed.

Claimants can send their claims to the asset issuers with the account history that was downloaded from GLBSE and the total number of shares they remember owning before GLBSE shut down.  The claims team can then take that information and verify the claim by looking at the bitcoin addresses for withdraws and deposits and identifying that they actually occurred in the blockchain.  Then the claim team can check to see if the history adds up.  For example, if a claimant says they owned 1000 shares of some asset yet only deposited 2 bitcoins in their GLBSE account, then it would be possible to identify that this claim is false.

Also, once the bitcoin transfers and balance have been verified, those past bitcoin address can be confirmed to be controlled by the claimant.

Bitcoin address are listed in the Deposit and Withdraw of the csv file.  If you look at the address that is listed from the deposit it will list the GLBSE bitcoin address, but the bitcoin address listed in the withdraw will the the claimant's bitcoin address.

I think this might work, but I would like input from others on potential ways fraudulent claims could be submitted and whether it could bypass a check as I proposed above.
4  Other / Meta / [Proposal] New ReEducation Subforum on: October 29, 2012, 05:08:13 AM

In response to the thread about Goats banishment from I propose a new subforum called ReEducation, a subforum to reeducate lost members of the bitcointalk community.  Instead of banning members for trolling, not providing any quality discussion, and/or not understanding the greatness of and its glorious administrator theymos, users could instead be sent to ReEducation to learn why their past behavior was unacceptable.

Members of bitcointalk that break the rules of bitcointalk would only be able to read and post in the ReEducation forum for a certain period of time until they are deemed suitable to reenter the main bitcointalk forum.  The ReEducation forum would have sticky posts about the rules of bitcointalk and statements by other qualified members about the greatness of bitcointalk.  Users sent to ReEducation would also be forced to self-criticize and produce written posts on why they have been mistaken in their past philosophy and criticism of bitcointalk, its moderators and administrators, and any other topic cited by bitcointalk moderators that needs reeducation.  User posts would also been screened by moderators and approval of the post would be required before it goes public.  Users in ReEducation would have their signatures speaking the greatness of the ReEducation process.  Finally, users to be ReEducation would have to provide a post showing them wearing giant socks on their head.

List of Heroes worthy of the People's acclamation
Theymos the Great, Protector of the Bitrealm, and Benevolent Administrator
Augusto Croppo the Great, The People's Libertarian Hero, Beloved of Theymos.
Censor Hazek, People's Guardian of Natural Law, Warden of rational thought.
5  Other / Politics & Society / What happened to the Ron Paul delegates? on: October 16, 2012, 05:51:27 PM
The most interesting — because powerful and not widely anticipated — plank in the draft GOP Platform scheduled to be voted on tomorrow calls for, according to a Bloomberg, “creation of a commission to ‘consider the feasibility’ of returning the U.S. dollar to the gold standard ‘to set a fixed value’ for the currency.”

Does anyone know the outcome of all the Ron Paul delegates in August?  Was it all hype and fear-mongering?
6  Economy / Securities / Complete GLBSE trading and dividend history and estimated revenue on: October 09, 2012, 10:27:04 PM
This is the complete trading and dividend history for GLBSE since the initiation of 2.0.

Trading History
Dividend History

The only problem is it does not include IPO sales as the twitter feed never seemed to record these trades.

I also estimated the revenue generated by GLBSE from this data assuming 0.5% trading fee since inception and 8 BTC listing fee for each security.  It is not completely accurate as some of the listings rolled over from GLBSE 1.0 and the fees associated with transferring assets between individuals and the IPO sales is not included.

From 4/2/2012 to 10/4/2012:
187 contract listings
66519 total trades
6006474 total contract volume
35911.75164BTC total volume
2823.6BTC total revenue from trading fees
1496BTC total revenue from listing fees.
4319.7BTC total revenue.
7  Other / Meta / Contract Dispute subforum on: September 29, 2012, 03:45:15 PM
There are a lot of scam accusations in the scammer subforum that have to do with contracts.  People claim scam if one party of the contract is not fulfilling their obligations.  This might not be a scam but instead some kind of disagreement about how a contract is interpreted.  Users that have defaulted on loans would also go in this section unless they can show they are specifically scamming someone.
8  Economy / Trading Discussion / Money Management for Unregulated Securities on: September 05, 2012, 01:57:03 AM
The problem with many unregulated securities is that it is hard to make sure something is a ponzi scam or not.  What I try here is to give money management advise when dealing with unregulated securities or investments.

There are 3 fundamental rules:
1.  Never play around with money or time that you can't afford to lose.
2.  Never reinvest your earnings from one asset into the same asset.  This means, always take your dividend, distribution, or interest payment and keep it or use it for something else.
3.  Always draw down your investment over time.

What is a ponzi?
A Ponzi is a fund that pays investor A with the money deposited from investor B.  Ponzi are fraudulent investment funds that act on investor greed to steal their money.  Ponzi's can sometimes be discovered by an  unusually high interest rate, but if a business is capable of growth or pays out most of its income then they give high dividends.

So how to protect your investment? Following the 3 rules above.  In the following example, Alice invests 10,000 in some unregulated asset that promises her 7% a week.  Each week she makes 7% on her total balance, withdraws the interest that she makes, and withdraws an additional sum of money equal to her interest that she made that week.  Each week's interest decreases but her total amount of money being risked also decreases.  At 10 weeks after her initial investment, she has her original 10,000 back, but now she is making pure income.

Name: Investment Fund A (IFA)
Weekly return: 7% (crazy)

9  Other / Meta / Have not been receiving email notifications on: August 23, 2012, 09:56:19 AM
So I receive some email notifications on threads that I have enabled email notification when a new reply has been made, but not all of them.  Anyone else have this problem?
10  Economy / Services / VPN that works in China on: August 17, 2012, 05:00:25 AM
Can anyone recommend a VPN that works in China.  I have been having issues with privateinternetaccess.
11  Economy / Service Discussion / MtGox Yubikey vulnerability on: August 03, 2012, 04:42:26 AM
When you get your new Yubikey make sure you test it out on your withdraws.  I found that I had to go to the security settings, delete the current Yubikey option and then reset it for withdraws to require the OTC of the Yubikey.
12  Bitcoin / Project Development / : Free Bitcoin Finance Site for GLBSE on: August 01, 2012, 11:26:25 PM
I introduce, a resource for BTC denominated securities.

Current Functions:
Past 7 and 30 day dividend returns.
hyperlinks to GLBSE asset pages
scrollable and sortable dividend tables.

Future Plans:
1.  Add other exchanges as they become more accepted. For now only GLBSE is supported
2.  Allow access to exchange trade history by date and security.
3.  Have individual pages for each active security with information similar on Google Finance.

13  Bitcoin / Bitcoin Technical Support / Solved: Multibit 0.4.4 not loading wallet files, but maybe magnet link bug on: July 31, 2012, 09:27:16 PM
I have an encrypted volume that when mounted is loaded to the symlink where multibit looks for the wallet.dat files.  It worked perfectly fine earlier today but now it fails to open my other .dat files that I have.  It only will load the multibit.dat file and skips the others.  When I remove this file multibit crashes.

Has anyone had this problem?

I am using Multibit version 0.4.4
14  Other / Off-topic / [tor-relays] turning funding into more exit relays: Discussion on: July 24, 2012, 08:18:11 PM
In case people don't follow tor newsgroup discussions I am posting this here for others to join in the discussion.

For a few years now, funders have been asking if they can pay Tor to
run more relays. I kept telling them their money was better spent on
code and design improvements:
since a) network load would just grow to fill whatever new capacity we
have, especially if we don't deal with the tiny fraction of users who
do bulk downloads, and b) reducing diversity of relay operator control
can harm anonymity.

But lately the Tor network has become noticeably faster, and I think it
has a lot to do with the growing amount of excess relay capacity relative
to network load:

At the same time, much of our performance improvement comes from better
load balancing -- that is, concentrating traffic on the relays that can
handle it better. The result though is a direct tradeoff with relay
diversity: on today's network, clients choose one of the fastest 5 exit
relays around 25-30% of the time, and 80% of their choices come from a
pool of 40-50 relays.

Since extra capacity is clearly good for performance, and since we're
not doing particularly well at diversity with the current approach,
we're going to try an experiment: we'll connect funding to exit relay
operators so they can run bigger and/or better exit relays.

If we do it right (make more faster exit relays that aren't the current
biggest ones, so there are more to choose from), we will improve the
network's diversity as well as being able to handle more users.

We've lined up our first funder (BBG, aka,
and they're excited to have us start as soon as we can. They want to
sponsor 125+ fast exits.


Open questions we need to decide about:

1) What exactly would we pay for?

I think the right way to do it is to offer to reimburse bandwidth/hosting
costs -- I don't want to get into the business of paying people to
run relays, and I don't want people to be trying to figure out how to
"profit". That leads to all sorts of horrible incentive structures.

More broadly, we should keep in mind that the primary cost of running an
exit relay is effort, not dollars: it takes dedication to find an ISP
who will host it, and to hold that ISP's hand when an abuse complaint
arrives. Or said another way, hosting costs are in many cases not the
biggest barrier to running an exit relay.

I think we should aim to constrain ourselves to talking about >=100mbit
exits, assuming that turns out to give us enough choices. That said,
we don't want to concentrate bandwidth too much in any given relay,
so we should limit the amount we'll reimburse per relay.

2) Should we fund existing relays or new ones?

The worst failure mode here would be that we screw up the current
community of relay operators. That's why it's extra important to keep
them involved at each step of this discussion.

I think the right answer is probably a balance of reimbursing costs from
current exits and encouraging new exits to appear. Before we can get
more precise though, we need to get a handle on how many current fast
exits there are, and what their constraints are (whether their hosting
situation could give them more bandwidth, whether they're paying now or
getting a deal through a friend/employer, etc).

Even then, there are interesting further questions like:

- Should we prefer big collectives like torservers, noisetor, CCC,, and riseup (which can get great bulk rates on bandwidth and are
big enough to have relationships with local lawyers and ISPs), or should
we prefer individuals since they maximize our operator diversity? I think
"explore both approaches" is a fine first plan.

- For existing relays who pay for hosting, should we prefer that our money
go to covering their existing costs (and then we encourage them to save
their money for use, say, after this experiment finishes), or should we
aim to add additional funding so the relay can use more bandwidth? I'd
say it comes down to the preferences of the relay operator. That said, if
we have plenty to choose from, we should pick the relays that will make
the network grow -- but we should take extra care to avoid situations
where operators in the first category say "well, fine" and shut down
their relay.

More generally, we need to consider sustainability. Our current exit
relay funding is for a period of 12 months, and while there's reason to
think we will find continued support, the Tor network must not end up
addicted to external funding. So long as everybody is running an exit
relay because they want to save the world, I think we should be fine.

4) What exactly do we mean by diversity?

There's network diversity (AS / upstream network topology), organization
and operator diversity, jurisdictional (country) diversity, funding
diversity, data-center diversity, and more.

We've started to answer some of these questions at
but this research topic will need ongoing attention. I'd love to get to
the point where our diversity metrics can recommend network locations
that best improve the various diversity scores.

5) How much "should" an exit relay cost?

Since we're aiming for diversity, we can't send all our volunteers to
the same cut-rate German VPS provider. After all, much of the work in
setting up an exit relay is finding a good provider that doesn't already
host a bunch of Tor relays.

But if we declare that we'll reimburse $50/month for 100mbit, we're going
to attract a different set of volunteers -- and a different set of network
locations -- than if we reimburse $100/month for 100mbit. We need to learn
about current bandwidth pricing: I know there are 10 cheap hosting places
that will tolerate exit relays, but are there 200? And do all of those
200 turn out to overlap diversity-wise? Initial guesses appreciated. I'm
inclined toward the $100 number to give our volunteers more flexibility.

If we want to reimburse on a monthly basis, how do we handle situations
where the ISP wants a longer-term contract? I think the answer will come
down to how many choices we have.

6) How exactly should we choose which exit relay operators to reimburse?

It might be premature to speculate until we better understand what choices
are available to us. But I think the answer must include doing it in a way
that encourages continued growth of the relay operator _community_. People
who are active in the Tor community, and well-known to many other people,
should be part of the answer. At the same time, we should be willing to
put some of the money into trying out new places and people, especially
if they're in good locations diversity-wise.

The broader answer is that we as a community need to figure out a good
answer here. I definitely don't want it to be "Roger picks people in
an opaque way". But I also don't want the answer to be "anybody on the
Internet who offers to take our money". Maybe we should put together a
consortium of current Tor activists who run fast exits?

7) How do we audit / track the sponsored relays?

How should we check that your 100mbit relay is really working? What do
we measure to confirm its capacity? To a first approximation I'm fine
assuming that nobody is going to try to cheat (say, by colluding with
an ISP to write legit-looking invoices but then just split the money).

But as the plan scales, we need good ways to track statistics on how
many relays are being sponsored and how much bandwidth they're providing
(so funders can see how effective their money is), and what fraction of
the overall network these sponsored relays are (to keep an eye on the
diversity questions).

Cool Legal questions?

Tor exit relays raise plenty of legal questions already, especially when
you consider jurisdiction variety. But reimbursing relays introduces
even more excitement, such as:

- Does such a relay operator end up in a different situation legally?
- Does the overall Tor network change legal categories in some country,
e.g. becoming a telecommunications service when it wasn't before?
- Does The Tor Project Inc incur new liabilities for offering this money?

Tor has a history of creating fascinating new challenges for legal
scholars, and this exit relay funding experiment will be no exception.

I believe if we position it correctly, we won't really change the legal
context. But I encourage people to investigate these questions for
their jurisdiction.


Next steps:

I'm going to do a short blog post pointing to this thread, since many
interested parties aren't on tor-relays yet.

Then I'll send individual emails to exit relay operators pointing them
to it and asking for their feedback (on the list or private, whichever
they prefer). I'll also try to get some sense of how much their hosting
costs, whether they'd want to participate in our experiment, whether
they're in a position to ramp up to a faster connection, etc.

Once we have some concrete facts about how many current exit relays want
to participate, how many new volunteers want to help, and how many ISPs
could handle more exit relays and at what prices, we'll be in a better
position to decide how to proceed.

15  Other / Meta / How to unlock a thread? on: July 02, 2012, 03:39:11 AM
This may sound stupid, but after locking a thread, how to unlock it?  I was going to lock 2 threats of a security in the Marketplace but did one that I did not want to lock.  Then I could not find a way to unlock it.
16  Other / Meta / Disallow locking of threads on: June 15, 2012, 09:59:36 PM
It seems locking threads by some OPSs is used to censore other members with complaints and to stifle freedom of speech.  I think locking of a thread should only be allowed by moderators in case of pointless trolling.
17  Economy / Securities / Remove on: June 09, 2012, 04:02:24 PM
18  Economy / Securities / [GLBSE] Today's Gainers/Losers on: June 03, 2012, 05:25:26 AM
Twitter ticker is available at:


Below is the charts of today's gainers and losers in asset price on GLBSE.  The figure are updated every top of the hour.  Also included is a csv file of all the assets and their recent change.

Short/Long GLBSE assets with HEDGE family contracts.

Full chart



19  Economy / Securities / deleted on: May 30, 2012, 09:42:16 PM
20  Economy / Securities / deleted on: May 22, 2012, 01:33:40 AM
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