Que LSM Lab rep to enter thread to assure there legit in ....

10...9.....8....7.......

I do admit, it is curious why RT should promote BTC , am sure there is an angle.

There is so much at play these days that its hard to get the real game plan - see ZH for a few ideas this last week.

Edited my post above due to stupidity 

Title is bullcr@p,
Artic is $hit
ur a mad bunch,

BUT

This brings an interesting thought on side chains.

Remove bitcoins from the chain, Print notes with a scratch panel for the private key (of the side change).

Bitcoin Fondation or DIY Banks of Bitcoin produce or distribute notes to outlets (shops ext.)

Anyone with the side change on there client can reintroduce the notes back (from side chain) into Bitcoin.

Bitcoin with the characteristics of paper.

and


Welcome back China  

Edit: On reflection this can already be done now   

But this could be useful for Fiat to obtain backing from Bitcoin.
 i.e. $1 is backed by 1 Satoshi,

If the Gov needs to print more, they have to buy more BTC
If there $$ get blown up they are still worth 1 Satoshi

Well they got to find something to do with the staff that is left and all the components that aren't worth a dime now.

In reality they have given you there trash, but thumbs up that they paid the return postage ( I Hope )  

The judge's most damning comments, however, centered on his overall BFL observations:

Ahh, Dear Joshie,
Am not very happy, you've not made me happy.
Must try harder..  for your pal Vleisides sake

Dissociative identity disorder 

I hope people would use an offical Git to avoid a malicious version.
Yes all can be done now by lots of research of howtoo's and I shall probably do this in time if no one steps upto the mark.

It this stage am more Interested in what I maybe missing and general criticisms. Food is  thought.
For Instance the image will need to securely hold the questions/answers to my password without being vulnerable to them being extracted from the image/system. Am not sure how that could be implemented due to my lack of knowledge.

USB Image

I think I, and most users of Bitcoin have serious concerns with the backup and storage of Bitcoin.
I therefore propose that we create a common format for Digital Backup for if the worst happens.

The main points of the Image I think should be as follows.

1. The Image should be non technical for the user.
2. The Image should not require my loved ones to remember a password.
3. The Image should be as secure as possible.
4. The Image should take the end user to the point of being able to send a transaction.
What I propose, is that the Image should
1. Be a Linux Boot Image on USB or similar and stored with Instructions on how to change the bois to boot from the Image.
2. Should check that there is no Interenet Connection on start and disable any present.
3. Alow the user to use a webcam and manual input to add additional private keys.
4. Decrypt Bip based on a few pre configured questions.
5. Inject the private keys into a bitcoin wallet
6. Prompt the user to add there own password to the new wallet.
7. Reinstate Network Connections
8. Download/Update the Blockchain
9. Prompt the user as to when the system is ready to make the transaction.

The Image should also have scripts for the setup, where by I can
1. Securely produce a new private keys
2. Encrypt the keys using bip and some security questions
3. Produce paper keys
4. Clean the keys from the system

So the end result will be that my family only need to boot the USB and follow the Instructions provided on screen.
They will of course still need to find my BIP protected Keys (but they will know where they are hidden)
My BIP password would be a combination of 3 or 4 pieces of information that they would know. That I have set in the software on the Image, like mothers name/childs date of birth/pets name.

I think this is quite easy to setup, but will take me ages as am quite new to Linux. So would be a great project for someone else.

Please provide thoughts and criticisms …

There are two points to consider.
First is the lag, due to the previous preorder BS, there has already been a huge lag between the decision (and maths) of a purchase and its deployment.
What made sense 6 months ago looks silly today. Fortunately those days are all but gone so we rejoin reality in a few months time.

The second point is power, that is the main point. We are not quite there yet but miners are still profitable. Forget getting what you paid back for your miner as its not always relevant.

What is relevant is
Does it Make more than it costs to run?
If yes then it mines, if no it will be switched off.

If/when we get there, I think it will be all about the side chains..   

Its not the first time, you guys should ban me.. 

 

Spoiler Alert -

40% voting Porn Where a bunch of sick puppies in here aren't we. 

Am not much of a user of facebook so am not that familar with its possibilities

However would it not just be a case of someone making a facebook app that utilizes a blockchain.info wallet.

This should be pretty easy to do I think ?

Have I missed something big      

   

If they can succeed in getting all those small outlets acting as a front for there exchange then its just 1 step away from them accepting Bitcoin properly for goods and services.

There is some Irony here,

China clamps down on BTC and the result increases its adoption.

Yeh, you have a good point there 

I was kind of looking from my own perspective.

I don't ever walk the high street and think "oh must get some more bitcoin"
but I would run out of cash and draw $100 bucks out of my BTC if I was short.

So there effectively taking the exchange to the high Street.
In there speculative culture this may just work.

Am not sure I would call it an ATM thou

But they could do that with an app if they held a little coin, and they could receive with it, surely this just adds another unnecessary third party.
Now if they reverse that statement I could see the benfits.  Withdraw cash from your BTC @ the coffee shop that would do it for me 

Am struggling to get this.

So you meet someone and they want to buy a coin
They give you the cash
you send it from your account to there's
they get there coin.

Why would I not just transfer them a coin with my phone app ?

 

I would love this as a backup of my private keys

Used In conjunction with something like trezor, you should make two versions