Completely legit beating of gold would be to take the global weighted average when all major exchanges are reporting/working. https://bitcoinaverage.comWtf? That says BTC-e has the most volume. why does this shock you? its the only exchange i will even use... You withdraw cash from BTC-e? Why not stamp? oh no, i don't use any exchange to get fiat. fuck that Forums/large individual sale only? You must have sold for fiat at least once... If you can't get more than MtGox from OTC, you aren't really trying. http://bitcoincharts.com/charts/localbtcUSD#rg5ztgSzm1g10zm2g25zvFast coins are worth more than cheap coins, a lot more in a rising market. Daily trades over US$2k |
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At 22:23:19 CST Gox Bitcoin (1237.889) passed the spot price of gold (1237.82) for the first time.
No, we did that already. That's it folks. For the first time in history 1,000,000 bits sold for more than an ounce of gold.
$1242.00
Not true. We came close but Gold was a little over 1242 at the time. Sort of... you don't get an ounce at spot unless you have a desperate seller. |
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Honestly it's mostly hype, Bitcoin isn't a serious transaction medium yet. I remember seeing an article proclaiming 6000 or 7000 sales through Bitpay on Bitcoin Black Friday as proof that we're a real ecosystem.
No, a couple sales per minute on a special day does NOT make a payment system worth $12-13B. That's like a fucking Girl Scout cookie stand.
We've passed Western Union at ~$9B market cap, and they process 28 transactions per second, every day.
Right now Bitcoin is a store of value. The value comes from Bitcoin's future potential as a currency and payment system. Lots of businesses will sign up because it's free and it saves them money; the hard part is convincing people to buy and spend bitcoins if:
A) it's going up constantly and they'll have more money if they wait, and
B) if the currency is extremely volatile.
We know A) will eventually resolve itself if the system grows to maturity. There is a limit to all growth.
The doubt was about B), and my doubts are disappearing.
Exactly how much aggravation, eye-gouging fees, delays, noise, fuss, AML rubber-gloving would someone get from WU if they tried to send $147 million on a Sunday night, across the planet, person-to-person, and wanted it to arrive in seconds, irrevocably confirmed in an hour? WU is Dead Man Walking right now. You're right, WU has lost 100% of the market share for wiring $147M at once.  But, yes; Bitcoin has the short term potential to take the wire and remittance market, just as soon as we get some decent exchanges. WU needs to buy Gox. It would solve both their problems. And many of ours. |
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Bloomberg keeps replaying the small part of the Greenspan interview where he says "Is bitcoin in a bubble? Yes!" and not much else of the interview (he talked about a lot of things)
Interesting that Bloomberg is talking it down.... Maybe they want to buy?
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I wish to use US currency ($1 bills specifically) because I want to lean on the counterfeiting security and laws. I wouldn't know how to verify paper rubles, pesos or rupees, or how unique each bill is. It would take huge balls for someone to knowingly counterfeit a FRN and send it through the US mail system. I'm not disagreeing with your decision and reasoning but should point out that counterfeit FRNs were for sale on that tor market that was shut down and shipped via US mail. But yes, a neat way to piggyback off the anti-counterfeit features that an ordinary person accepting the note can use to help verify its authenticity. The USD$1 has anti-counterfeiting features? Such as? Its main/only meaningful anti-counterfeiting feature is the one which you are voiding, its low value. It has no security features beyond starch-free paper and even its micro-printing is not beyond the reach of cheap printers today. Most anything else would be a better choice if you are looking for counterfeiting security, and the counterfeiting security laws will apply to any nation's currency. If you are smitten with the USA bills, and want the advantage of the honest mistake of your customers accidentally spending it and losing the ability to redeem it, you might consider moving up to the new US$5 which have UV sensitive thread and watermarking. Yes, the paper is going to be what I check before releasing coins, and should be checked by those who accept it as payment. Maybe I'm underestimating criminals, but the risk involved to counterfeit a $1 bill to get 0.05 BTC for free seems a bit steep. I would contact authorities if I came across a counterfeit bill. Hoping to launch in the next few days - website is being built! We are taking steps so others can re-produce the idea. With luck, many local pubs and stores around the world will be able to release coins with their own keys. Counterfeiting a US$1 is very easy. Especially if just changing the serial numbers. It is a lot cheaper to do than 0.05BTC is today. For what its worth, the paper is pretty cheap. You can get it for US$1  I hope for your success. You probably have nothing to worry about with the current value of BTC, though who knows what the future may bring. The Liberty Dollar paper currency had DNA taggants. At the time it had more security features than any other paper currency in one piece.  |
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You don't HAVE to be in the NSA to solve this, but it helps.
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Yes everyone counts. The more there are in, the more power we have. And since it doesn't cost anything until there is a refund it should not be a problem for anyone to join. The haircut would be much better than the one TF was offering btw. ..so ..yes!  Should those with a single BTC at CL even bother with this?
Winning a judgement, and collecting on a judgement are very different things. The chances of getting a payment when they don't have it is not very good, if all the wealth this guy has is now gone, you aren't going to get anything with a lawsuit other than a loss on the books for you to claim against taxes and a lot of suffering for everyone. On the other hand, if TF is a thief and took the coins, then you may get them this way. I just don't think that is the case here. I think he was just overconfident and now is in over his head. Disclosure: I have 1.08... on CL |
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Its backed by the full faith and credit of mathematics. As well as everything anyone holds with a bitcoin valuation for which they will happily trade away for bitcoin. Which is to say that it isn't backed by anything in particular. However I for one, am backing it with silver and gold from the Bitcoin specie project. Bitcoin Specie:  As to whether bitcoin has any intrinsic value...maybe it does, maybe not. The Dollar certainly doesn't. That is a debt instrument. It is a promissory "note" as in Federal reserve Note. So it has to worry about being repaid, bitcoin doesn't have that worry. We aren't concerned about being repaid, our bitcoins seem perfectly redeemable just as they are. For a Lamborghini just today, yes? https://bitcointalk.org/index.php?topic=357820.0http://lamborghininewportbeach.blogspot.com/2013/12/we-just-sold-our-very-first-vehicle.htmlAlthough they don't really understand what "Legal Tender" means, if they did, they wouldn't use it in that context. "Legal Tender" means you are forced to accept it, not that you are allowed to accept it. It is not a good thing, and we don't want Bitcoin to be legal tender, free choice is better, and you really only need a legal tender law when your currency sucks. |
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http://www.bloomberg.com/news/2013-12-04/greenspan-says-bitcoin-a-bubble-without-intrinsic-currency-value.htmlFormer Federal Reserve Chairman Alan Greenspan said Bitcoin prices are unsustainably high after surging 89-fold in a year and that the virtual money isn’t currency. “It’s a bubble,” Greenspan, 87, said today in a Bloomberg Television interview from Washington. “It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.” The man who was the most wrong about everything in economics with the possible exception of every other Fed chief says Bitcoin is a bubble and has no intrinsic value. We must be on to something here.
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Ill be attending the Dec 2nd meet up.
Hope to see some of y'all
It will be great to see you. I may show up late for some coffee, will be arriving at LAX on the evening of the 2nd fresh from the London Bitcoin Expo so probably not arriving until 8ish. Didn't arrive until too late for this. London was a great group. Too many people for the venue even. |
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There is a meetup in Long Beach tomorrow evening. If you aren't going I could pick up some to resell? Not everyone just wants silver and gold. |
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nonce in this case is different from lottery in that it can increment to cover the entire range (from 0 until overflow) so it's 100% sure to be able to find a match. It's like you buy every possible number in lottery. Say if the answer is distributed equally within 0 ~ 255, if you intentionally restrict your coverage within 0 ~ 58, then in (255-58)/255 = 77% of the time you can never find the answer.
No. That is completely wrong and confused. You are not 100% sure to find a match. Unless the hash function is broken, every attempt is unrelated— there could be 5 matches in a row, or a whole nonce range which doesn't match. When it fails, it just increments the extranonce or timestamp and carries on. At the current difficulty the probability of any value being a match is around one in seven hundred million. Puncturing the nonce space does not reduce your probability of success in the slightest. Unless you also hash for the nonces in between but discard the results.. which is of course stupid. Under the assumption that profit is the motive No, under the assumption that there is no benefit at all, including profit, of calculating hashes you will not publish. Unless he was testing the randomness of the algorithm, but I doubt it. Yes, or testing something else. We are still in beta, yes? This is all just testing so far. |
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Because Naoshi Sakamoto is not even a remotely related name to Satoshi Nakamoto, and if you spoke Japanese you would know that. Please don't give this poor guy the nightmare of public scrutiny.
The names are not the same. Also, they are not the same person. |
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I believe there is a bunch of malware out there that does this...sucking up cpu cycles and slowing peoples machines down.
My pc once got infected with a Bitcoin "MINER VIRUS"  If you had a machine infected (with anything) you probably reviewed your best practices and changed your computer behavior, yes? |
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So... sell at US$1K until April?
No... you...
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Recently, we started to receive claims because of the long-time credit of funds transferred by SEPA / WireTransfer. The main problem is that some of our clients have a negligent attitude to the control of the field Details of Payment. As the result it takes an additional time to find your money. Please, make sure, that the information Details of Payment is always present in the document of transfer, do not shorten it, don not use your account username.
I have my bank well trained in how to process a wire transfer to you, including Details of Payment. My bank saved the information in my account so to send you money is not any effort. And even though it is a US bank, the funds arrived without unusual delay. However I now notice that on the wire transfer deposit screen under the payment instructions is this text: "We don't accept international wire transfers from US Citizens or from US Banks
All transfers from US Citizens or US Bank will be refused by bank"I am happy to get another bank account in order to continue working with you, but asking me to change citizenship is going to take a while. I <3 BTC-E, but you do ask a lot in a relationship. |
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One final point in the BTC vs mBTC debate - if you just like to be able to say you own 100 of something that costs $1200 a pop, doesn't it sound even more impressive to say you own 100,000 things that cost $1.20 a pop? Changing to mBTC is a win for people new to bitcoin as well as for people who've already established their fortunes. Showing off your material wealth is the only reason I can possibly think of why people would be resistant to switching.
Only for people bad at math. Impressing people with wealth is a cost, not a goal. |
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I took one of the coins I got from them to a local dealer and asked if they had a test. The dealer said that he'd never seen a gold coin weigh exactly the correct amount if it were counterfeit. In other words - only the real coin weighed exactly the correct amount (and presumably looked legit.) So that's all he did to test it... just weigh it. (Yes, he said it was real -- paid me cash for it.) Hi,
Has anyone tested the gold from Agora Commodities? I don't want to have to buy a gold testing kit, scale, and calipers...
I'm not alleging anything, I just have trouble trusting what is gold and what isn't. Please PM me if you have tested AC's gold.
Thank you in advance,
JJ30
If anyone can show that fake 1oz gold coins with the correct size and weight exist, I would be very curious to hear about it. It is my understanding that fakes are only a problem in 10oz+ bars. (If you want fake gold, talk to a poor king) |
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