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1  Bitcoin / Press / 2013-07-19 In Bitcoin We Trust? - Wall Street Pit on: July 20, 2013, 02:43:48 AM
I can't believe people are still writing this kind of articles in July 2013  Grin

Quote
In the end, however, I expect that Bitcoin will fade back into the shadows of the black market. Those who want a regulated, secure currency that they can use for legitimate business transactions will pick from one of the many currencies already sponsored by a national government equipped with ample resources, a real-world economy and far more transparency and security than the Bitcoin world can offer.
After the Bitcoin bubble bursts, we won’t even be able to use the leftover coins for jewelry.

http://wallstreetpit.com/100662-in-bitcoin-we-trust/
2  Other / Off-topic / "Fuck you, vem lambę, take it easy, foda-se." on: July 12, 2013, 08:23:08 PM
Just an indian song that I hear and understand it in english and portuguese, mixed lyrics.
The dancing guy is prabhu deva he's like an indian michael jackson, but with more style.
http://www.youtube.com/watch?v=iRJGPjy2lZ0
Very nice times Smiley
3  Other / Off-topic / Song with a bitcoin mood on: June 26, 2013, 07:08:47 PM
I think this has it(sometimes):
http://www.youtube.com/watch?v=Es3Zf4K4_sc
4  Other / Off-topic / So just exactly what is NSA's PRISM, more than reprehensibly evil? (R Falkvinge) on: June 10, 2013, 12:05:52 AM
http://falkvinge.net/2013/06/08/so-just-exactly-what-is-nsas-prism-more-than-reprehensibly-evil/
5  Economy / Service Discussion / Big f*cking problem with Mt. Gox payment platform[Solved] on: June 06, 2013, 03:22:57 PM
I'm really pissed. I just bought something in an European site that uses Mt. Gox payment processing. It is similar to BitPay, but it's much more stupid. I just lost ~0.97 BTC. The payment page redirected me to the Mt gox payment processing, which said I needed to pay 90€ in bitcoin to the following address https://blockchain.info/address/1B7iH3ZjMrxp3E5MkbHxFz75FiKuop9BMy
The page said that as soon as the transaction was detected, I would be redirected to the vendor's page. What happened was I sent the 0.97 btc to the address, and about 5 minutes later the checkout page said :
Quote
The transaction was cancelled.

You will be redirected to the merchant's website within 5 seconds.

If you are not redirected, Click here.
I was redirected to the site's page, and contacted them. So far no response. I also contacted checkout@mtgox.com with no response so far.
I never used anything to do with Mt. Gox until this day, and will never use it again.
Has this happened to anyone?
 Angry Angry Angry Angry Angry Angry

Cheers everyone. I hate Mt. Gox

EDIT: I realized now that it's midnight in Japan. When they open up at 10 am JST, It's 3 am my time.
6  Economy / Auctions / Pyramining 6.24 BTC account on: May 26, 2013, 09:58:56 PM
I have a pyramining account I'm growing uncomfortable with, it's worth 6.24 btc because it has chained accounts. It's probably worth more than that since it has referrals that are shown empty, probably ASIC deposits.

It's almost paying out for the first time, it pays out every 0.1 btc

http://www.pyramining.com/account/browse?id=zfthgsab
Deposit address:    1KdzszHK42c3aQU466gYHHZMkatU7qMte8
Payout address:    1ELdPDotRQMLJQxRC6o7vEF9qDKPGkXSQ6
Total deposited amount:    5.24 BTC
Equivalent hashing power:    58.3MH/s
Current bonus:    22.6%
Average bonus:    21.6%
Pending rewards:    0.08741208 BTC
Sent rewards:    0.0 BTC

I haven't used the payout address for anything else but this, will sign message with it.

Auction starts at 5 BTC
7  Economy / Service Discussion / This gives me hope... on: May 04, 2013, 01:49:59 PM
http://nashx.com/
A more-or-less decentralized exchange, making use of mutually assured destruction and the nash equilibrium http://en.wikipedia.org/wiki/Nash_equilibrium
Looks promising.

Quote
Why was it made?

    Because nobody wants to send their money first.

The basic concept

    Traders risk money for destruction in each other's hands whenever they get into a deal.
    So, when one sends the money first, it doesn't benefit the other to just take it and run.

How is it different than MTGOX and BTC-E

    You are anonymous. No personal or bank information.
    You trade directly person-to-person however you want.
    You keep your money in your wallet, and not with an exchange.

How it works

    Make an account.
    Add funds to risk.
    Make an offer, or take an offer.
    Chat to arrange the details.
    Make the transactions.
    Release or destroy risked funds.
    When your fund is destroyed, you will immediately see a transaction id as a proof of destruction.

How are risked funds destroyed?

    NashX literally destroy them by making a transaction from our wallet to our wallet with minimum possible possible transaction amount with funds to be destroyed as the additional transaction fee.
    So the funds go to miners who process these transactions.
    Why don't we keep it? It gives us a bad incentive to make fake accounts and destroy deals
    Why don't we give it to charity? It gives them a bad incentive to make fake accounts and destroy deals
    Why don't we blackhole it? The process to generate one of those addresses that traders can trust that is truly a blackhole is a difficult task in itself, a process similar to mining. We would take this path if we could give each destroy fund a blackhole address of its own quickly, but it's not.
    Finally, we tried to come up with many other ways such as distrubinting to active traders as well as somehow adding randomizations to the distrubiton process and what not, but all of these other solutions potentially give us control to mess with it, or gives some third-party bad incentive to come destroy deals on NashX.

Who sends the money first?

    It doesn't matter, so it's up to the traders to decide/volunteer/negotiate because nobody has the incentive to change their mind after receiving money.
    However, it is advisable that whoever does not have any previous records of making trades send the money first until the trader has built some reputation on NashX by making trades. Reputation can be checked by viewing the deals they've engaged.

Important to keep in mind

    The amount you risk should be twice the amount you're trading in order to keep the deal in Nash equilibrium.

If I want to trade 10 BTC, does that mean I have to risk 20 BTC?

    No, you can simply risk 2 BTC, and trade 1 BTC at a time 10 times. This doesn't mean you have to make 10 separate offers. When you make an offer risking 2 BTC to trade 10 BTC, it is implied that you will make ten 1 BTC transactions going back and forth with your trader.

Some details

    You can add/withdraw funds you can risk into deals (8 confirmations to add, instant withdraw)
    Your offers will expire after 7 days.
    You will receive an email and a popup notification when someone takes your offer.
    You will receive a popup notificatoin when someone messages you.
    There is a little bit of transaction fee to withdraw your risk funds from you account to cover the Bitcoin and Litecoin sending fees. This currently set a little high to cover the cost of operation.
    There is a minimum amount for withdrawing your Bitcoins and Litecoins.
    You can make offers, and delete offers, but once someone takes your offer, it cannot be deleted.
    Everything, including how much risk funds you have in your account, as well as the offers you're making, and deals you've made, and messages you've sent in those deals are availble publicly for people to see and guage your reputation before they decide to take your deal or not.

How does it make money?

    I'm not concerned about that at the moment, There are some fees for withdrawing risk funds from the account, but that covers regular Bitcoin and Litecoin fees. So, right now it doesn't make any money. I just want to see if people will start using it. That way, I can makes trades on it too. After all, I made it because I'd like trade on it.
    Once it gains significant traction, NashX may do one or more of the following to continue to provide its services: 1. Ads. 2. Monthly Fee. 3. Small fee to take an offer by the offer taker. 4. Higher fees for adding/withdrawing risk funds from your account. These are the only ways where no bad incentive is given to anyone which may disturb the Nash equilibirum for traders.
    It may be sold for some amount of money. Feel free to make me an offer.
8  Bitcoin / Bitcoin Discussion / It's not only bitcoin...chewing gum works too. on: April 30, 2013, 11:14:47 PM
https://www.goldsilverbitcoin.com/marijuana-tide-detergent-chewing-gum-bitcoin-a-basket-of-currencies-for-the-near-future/
9  Economy / Speculation / Sorry if this has been posted...(about Magic The Gathering Exchange) on: April 16, 2013, 07:22:54 PM
http://youtu.be/IbSOHwCOnG0
The guy talks about how the trades take place in today's exchanges. EDIT: Honestly don't know if an implementation of that technology he talks about would be good for bitcoin...Maybe not for speculators, as the price couldn't swing too much in a short time.
10  Economy / Trading Discussion / Bitcoin-24 DDOS? on: April 09, 2013, 07:07:00 PM
I notice bitcoin-24's trading engine is always going down, and now from time to time the cloudflare page comes up...is it under attack?

edit: it's always on and off, probably the influx of new users too much for the server...
11  Other / Beginners & Help / Max Keiser on: April 06, 2013, 01:00:31 AM
First post on this forum  Smiley
I'm a newbie here, but have been reading this forum since 2011, after the crash and stuff. I love bitcoin, and how it works, and have been saving all I can...just since February, before that I just bought and spent right after.
Here stays a little keiser report. this guy's ranting is awesome.
http://www.youtube.com/watch?v=rOVg20l_mLU
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