101
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Bitcoin / Bitcoin Discussion / Re: Milwaukee Makerspace's response to Bitcoin
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on: May 11, 2011, 03:36:25 PM
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We're open to the idea. Just please try to explain how Bitcoin would benefit our group if we accepted it for donations. Don't act like anarchists and know-it-alls.
Hey, If all you want to know is how it will benefit you, the benefits are really rather simple and have nothing to do with philosophy or economic theory. 1. Receiving bitcoins is free - no paypal fees, no credit card fees, etc. 2. The effort required to start receiving bitcoin donations is minimal (create a mybitcoin account or install the client, then paste a bitcoin address on your website) 3. Sending bitcoins is easy and nearly-always free. People who use bitcoin tend to be always up for throwing in a few bits to organizations they support, since the barrier to doing so is quite low. 4. You don't lose anything by putting up a bitcoin address - those who prefer to use paypal or whatever other methods you currently accept, can continue to do so. You only gain, potential bitcoin donations. 5. Exchanging bitcoins to USD is quite easy. Selling coins is a lot easier than buying them. (Try #bitcoin-otc channel. MtGox now also allows you cash out via Dwolla directly). So in summary, from a purely practical standpoint - you have nothing to lose, and potential new revenue to gain, at a cost of a few moments of your time.
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104
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Economy / Marketplace / Re: Introducing BitCoinFeedback.com!
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on: May 09, 2011, 10:54:35 PM
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The issue I was addressing was more related to ID theft than data encryption.
Like on bitcoin-OTC you've:
john +10 andrew +8 mary +7 ...
The simple access to this kind of list can give a scammer the chance to impersonate one of this folks in good stand, like registering to some new business with one of those nicks. Whereas the same list hashed presents no such threat, or to a much lesser degree, as the scammer doesn't know what username he needs to impersonate.
there is a reason OTC identities are based on GPG keys rather than nicks. unless you manage to lift mary's private gpg key... good luck claiming her OTC identity.
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106
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Bitcoin / Development & Technical Discussion / Re: Anonymous GPG authentication
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on: May 09, 2011, 02:11:13 PM
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as has been suggested - indeed the solution is to ask a user /on freenode/ to register a nick for you /on freenode/, and give you the account details. you then can log in via tor, change your password, and you're happily on your way toward using freenode with tor, never having revealed your real ip.
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108
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Bitcoin / Development & Technical Discussion / Re: Design notes for sharing work between multiple independent chains
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on: May 08, 2011, 05:55:25 AM
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What technical issues are solved by storing DNS data in the main block chain, as opposed to an alternate yet connected block chain, as Mike has proposed?
Incentives. If I want to make an alternative chain for timestamping documents, then no one will ever generate blocks on that chain, since there would be no profit. If you can easily work incentives into your project, a side chain is better. Then you can do simple payment verification for your chain, too. theymos, for your consideration: i think incentives can easily be worked into [mike]'s scheme, if you just change the protocol to require the 'parking' transaction to have X fees. et voila, we have incentives. what do you think?
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109
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Bitcoin / Development & Technical Discussion / Re: Distributed (well, it can be) secure WOT
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on: May 08, 2011, 05:15:24 AM
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it's a good idea - though the presence of double-signed contract should be optional. would mostly be useful for cases where you (for whatever reason) decided to transact without a contract, and then got scammed and want to post a negative rating. obviously for a positive one, both parties would be willing to make the contract ex-post. then, just post these bits of data onto any distributed data store, and you can have 'aggregator' services providing data lookup.
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111
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Bitcoin / Project Development / Re: BtcFn Project [400 BTC / 800 BTC ]
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on: May 04, 2011, 09:08:30 PM
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i can't comment on any of the details of the proposed protocol due to insufficient familiarity with freenet... but fwiw i think it's a good idea to have this available.
we may all be happy it is there, if it comes to pass that some $government or some $isp decides to block (or monitor) bitcoin traffic.
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113
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Bitcoin / Bitcoin Discussion / Re: Should drugs be listed at bitcoin.it?
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on: April 29, 2011, 04:55:48 AM
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hey, i have a great idea:
why not let bitcoin.org and the 'official wiki' be 'squeaky clean', and just set up a third-party site with uncensored forum/wiki separately.
that way we can both keep the main project away from any unnecessary controversy, and have uncensored discussion/merchant listings.
i bet 'bitcoinwiki.to' and 'bitcoinforum.to' (choose any hard-for-govt-to-seize tld) are available.
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115
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Economy / Economics / Economic of Deflationary Spiral
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on: April 22, 2011, 09:18:06 PM
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From what I've read about bitcoin, there is a fixed cap on the amount of money that can exist in the system, like various types of Austrian economists have desired.
Without being able to increase the supply of bitcoins, the economy will stagnate as the currency causes deflation. As deflation occurs, people horde currency, leading to lack of commerce. This means that eventually when the coins have been mined you'll have an oligopoly of a few holders of a large amount of bitcoin, and then people participating in the real economy outside of it.
I am not hating on bitcoin because I don't understand it, I just don't think it has the flexibility to sustain itself in the long run, and so runs into the greater fool theory. Don't want to step on any toes, just my two cents.
limited supply hasn't stopped gold and friends from being a great store of value over time.
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116
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Economy / Marketplace / Re: Seeking bitcoin options
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on: April 22, 2011, 05:12:53 PM
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Really? Nothing?
Given the way the market has moved, I'll change my window of strike prices to 1.10 - 1.50. If you're not interested in offering American options but will offer European, I'll consider it.
given the way the market has moved... are you surprised that nobody wants to sell you call options?
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118
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Bitcoin / Project Development / Re: BitcoinKarma.com - Help Quantify Risk in Transactions
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on: April 21, 2011, 07:47:57 PM
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You can get raw data from the sqlite dbs, Also, we've done some integration of OTC WOT with coinpal - he posts signed messages of automated ratings for people who purchase allowing users to register with gpg key I will do as you suggest. It would be best practice for me to design this so a user can assign their GPG key to an Account and not to the individual bitcoin addresses. right. Im sorry I do not understand your last post, either party in a transaction can check someone's Karma Rating.
I am hoping to put some time into this project, thanks to a strange holiday season in the UK, bank holidays and so forth.
ok, let's walk through this. let's say there's a guy with address 1xxxxx registered on bitkarma, and there's a guy with address 1yyyyyy as well. let's say 1xxxxx is buying socks from 1yyyyy. well, mr 1xxxxxx can easily look up 1yyyyyyy's rating on bitkarma, and if he sends his bitcoins to address 1yyyyyy, he knows that he sends to the right guy - namely, the guy that he's sending coins to is the same guy whose karma he has just looked up. now, how about mr 1yyyyyy, how does he know who he's dealing with? mr 1xxxxxxx can say hey, look up my karma, address 1xxxxxxx. but /anyone/ can say the same thing, even if he doesn't own address 1xxxxxxxxx. thus, while the receiver's identity is verifiable simply by sending to 1yyyyyyyy, the sender's karma is not, since anyone can claim an address. which actually brings up another point - even the receiver, if he just wants to 'grief' someone by having them lose btc, can claim someone else's karma by handing out other people's addresses. he won't get the btc, so there's no gain to the griefer. but there's loss to the sender, since he just sent btc to some random person who wasn't expecting it. in other words... on your site you need some way for people to easily prove that they own accountX, prior to a transaction.
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119
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Bitcoin / Project Development / Re: BitcoinKarma.com - Help Quantify Risk in Transactions
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on: April 21, 2011, 03:38:48 AM
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another note: registering a bitcoin address to a karma account is really only useful one-way - when you send to a person, to one of the addresses registered on karma, it would provide identity/karma information. however, since client doesn't allow one to send /from/ a particular address, going the other way (i.e., receiving coins), bitcoinkarma system would not be of use as far as proving who you're dealing with.
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