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581  Economy / Speculation / Re: So TD (Toronto Dominion), a major Canadian bank is looking for a Bitcoin Dev... on: October 30, 2014, 07:49:06 AM
What do you mean by a Bitcoin tolerant bank? Are there problems making fiat withdrawals to some banks?
Yes.

Bitcoin shines a light on how silly Know-your-customer laws are. Banks face large fines for failing to report certain transactions. Banks sometimes find it easier to just say "no" to businesses (and individuals) using Bitcoin.

I think the reason why people who use bitcoin have trouble with banks is the fact that many people who use bitcoin cannot properly navigate the AML/KYC regulations and end up setting off a lot of red flags, and when they try to prevent the red flags from going off, they set off even more red flags.

IMO the main problem is that people do not classify themselves as running a business or themselves as a money transmitter when they are in fact are one of these things
582  Economy / Speculation / Re: What causes the LakeBTC price lower than BTC-e? on: October 30, 2014, 07:45:07 AM
it's profitable, buy btc on LakeBTC, sell BTC on Bitstamp, deposit and withdrawal with Ripple

http://www.reddit.com/r/BitcoinMarkets/comments/2kfd9a/does_anyone_try_arb_from_lakebtc_to_bitstamp_via/
The arb is like a faucet, but the risk is greater, you will loss once the price balance.
You can potentially make a lot more money by using arbitrage then you can via a faucet, however the risk is much greater.

There is a reason why the market price is higher/lower on one particular exchange, and that reason is almost always going to be the fact that people are having difficulty withdrawing either fiat or bitcoin from the exchange
583  Economy / Speculation / Re: The negative impact of mining farms on: October 30, 2014, 07:42:36 AM
...
You do know that likely the biggest mining company out there, BitFury, sells industrial mining gears to other miners...

I know that KNC, one of the largest companies out there, is

<== click Smiley



A fraction of one of KNC's megafarms.



if they can pump out so much bitcoins, isnt this a monopoly game in mining.. and its 1 sided to people who have those kind of institutional resources.

That's exactly what it is and the main point of this thread. Somehow, that logic seems to elude a plethora of bitsheep and their perpetual bleating of trying to turn any events surrounding BTC into great news.

- mtgox hacked, millions of $ lost: great news
- centralization of mining: great news
- BTC price crash: more cheap coins
- rampant scamming in BTC: it's the victim's fault
- government regulation: to da moon, best news ever
- illicit marketplaces: drug dealers are like robin hoods of crypto

Now I'm not saying that every news regarding btc is bad. It's just that some people here try to twist everything to look favourable for btc when it's obvious that isn't the case.

Well you are not going to find a very balanced discussion on here. Most people to migrate to this forum are going to be pro-bitcoin as they would not come here if they were not. Granted there are some bears, but they are vastly outnumbered.

I would argue that KnC would want to get out of the retail business because of the risks associated with selling via retail. People can claim they received defective miners and request a refund, and can claim that that they did not receive their machine, or could claim that the shipping times were excessive. The psedo anon nature of bitcoin would make it very difficult prove these claims either way and the number of bitcoin related scams are high enough that this probably happens often to them. This will result in a lot of regulatory risk
584  Economy / Speculation / Re: Totally confused with swaps. on: October 30, 2014, 07:35:50 AM
Ok,  I made an offer at bitfinex:  100 BTC 0.2% 30 days  , i am curious

I don't know if someone is gonna take that 0.2% (there's a 1'671 BTC at 0.17% right now). But anything below that like 0.16% will do.


Back to reality, now it is only 0.059% and keep going down,  so it is time to cancel my order and withdraw BTC

For me the average rate (last 90 days): 0.0247% is too low
That works out to an annual rate of ~9% which is actually very high for even historical standards.

The amount you can earn from bank deposits now is well under .2% today and has been under 1% for many years. Even in the 1990's and the 2000's you could generally not earn over 5% on bank deposits
585  Economy / Speculation / Re: Be that guy on: October 30, 2014, 07:33:01 AM
anyone who thinks bitcoin has already hit its full potential is delusional.
the market for bitcoin is the entire world, how many people have them? almost none.
anyone who is lucky enough to understand bitcoin today and be in a position to buy it is going to be extremely rich in 20 years.

the current paper money regime is not going to last for much longer, its been collapsing for the past 14 years and is now on life support in the form of permanent zero interest rates.
the only alternatives are precious metals and bitcoin.
i'd like to see you buy something on ebay with gold, bitcoin is the only option for honest money in the modern world.
I would not say that bitcoin has reached it max potential but I would also not say that it would potentially be a world reserve currency, or the only currency used throughout the world. There are simply too many obstacles to adoption for much of the world to be able to use bitcoin.
586  Economy / Invites & Accounts / Re: WTS: Legendary BCT forum account 1k+ activity 1k+ post count on: October 30, 2014, 07:27:22 AM
Account creation date: mid-2010 to mid-2011.
No refunds.
Buyer must show lots of positive rep. I don't want any scammers tarnishing my name.
All my posts will be deleted. Fresh start.

You don't know the year you registered your account.
Once you deleted all the post, the account will drop down to newbies making the legendary status useless.

This might be a smart scam. 1 BTC for a newbies account. No refunds
The OP probably wants to hide the identity of the account as there are very few accounts with 1k+ activity and posts.

He probably also does not understand how activity works and/or is trolling/bluffing about being able to sell a legendary account
587  Economy / Speculation / Re: QE3 ended, good or bad news for BTC price? on: October 30, 2014, 07:24:54 AM
I'm not U.S. citizen. But apparently what Uncle Sam does has global influence.
So... Read in the newspaper, U.S. QE3 ended. Is this a good or bad news for BTC price?
I would say that it will have a negative impact on the price of bitcoin. QE caused the price of most asset classes to go up greatly because of little potential return on low risk assets, this caused a lot of easy money to flow into risky assets like bitcoin.
588  Economy / Service Discussion / Re: There is an epic blockchain.info theft method out there on: October 30, 2014, 06:54:30 AM
it's a TOR security breach, stop using tor + bitcoin

atleast theres one smart person out there.

iv never understood why anyone would visit a FINANCIAL site over a PUBLIC VPN do you lot enjoy giving your money away? anyone can set up a Tor exit node and steal your details. its like leaving a safe full of money half open ofcourse someones going to steal your coins. DONT USE TOR FOR FINANCIAL STUFF

If the financial stuff is over https it's ok to use public vpns, they can't eavesdrop anything in that case

I think OP got hacked because he used http indeed he said:
"I thought even recently I was able to access the site using HTTP"

Exactly. He was very probably victim of a man-in-the-middle attack, TOR exit node detected he want to establish HTTPS connection to blockchain.info, served him phony HTTP site instead, took over his credentials and established HTTPS connection to the real site instead of him. Goodbye bitcoins. It's unbelievable he detected that he was served HTTP instead HTTPS connection and still thinking he was accessing the actual site. You should not use TOR if you do not understand what are you doing.
I believe that POODLE actually would make you think that you were using HTTPS while you are not actually connected to the site you thought you were connecting to.

Also the difference between you using HTTPS and HTTP is very small from what this looks like on the tor browser bundle so it would be very easy to miss.

The attack appears to be one (or more) malicious exit nodes
589  Economy / Service Discussion / Re: Escrow Services? on: October 30, 2014, 06:51:11 AM
Well that is 1 nice thing you get for having some good feedback/trust...you do not have to send first! I rarely have to use escrow anymore most people just send first then I pay later.
This is why people want to be able to act as escrow. It will help them quickly build up trust without any cost to them. When someone wants to build up trust, they will need to either buy or sell items which will cost them money. However if they are only acting as a middle man then there is no cost to them.

Once they build up trust they can potentially scam for larger amounts as they can potentially engage in multiple deals in a short period with the other person always sending first
590  Economy / Service Discussion / Re: Butterfly Labs Nimbus Cloud Mining Service $40 a GH on: October 30, 2014, 06:47:32 AM

https://products.butterflylabs.com/homepage/nimbus-mining.html


BFL has now started offering Cloud Mining for $40 a GH


Talk among yourselves.

Try not to laugh

Link doesn't work, but here's the archive: http://web.archive.org/web/20140331025403/https://products.butterflylabs.com/homepage/nimbus-mining.html

Quote
NimbusMining contracts are served by nimbusmining.com.  Butterfly Labs (BF Labs Inc.) acts as the hardware supplier and the retail sales agent for this mining contract product.  Contract activation and post sales support and service is provided by nimbusmining.com.  NimbusMining hardware is provided from either off the shelf 65nm products or from NimbusMining's own 28nm hardware as it comes into service from it's own pre-ordered purchases of Monarch chip production.

Fact: Nimbus Mining gets all their hardware form BFL.
Fact: Nimbus Mining hashes with only 65nm products from BFL.
Fact: Nimbus Mining DOES NOT YET hash with 28nm products from BFL.

Fact: Nimbus Mining is part of CoinWare.
Fact: HashTrade is one of http://www.coinware.io/companies.html 's companies.
Fact: HashTrade ordered millions of dollars worth of BFL's Monarchs.

Fact: Josh Zerlan, VP of BFL, rather reply to and read WFT articles on Reddit than address concerns expressed by his customers who afforded him to purchase a paid-in-full half million dollar home.
Fact: I am a Drama Queen if you believe Josh, for that's what he refers to me as.
Fact: I am taking a shit while penning this post.
Fact: I jack off to MFC videos, preferring the girls to have small tits with tight pussies. Just before I'm about to cum, I yell out, "Jody! Jody! Jody!" Okay, maybe I made up part of this fact, but you guys have to guess which part.

Funny, how BFL decided to take this page off their official site, now only available via TWM: http://web.archive.org/web/20140626111927/https://products.butterflylabs.com/homepage/nimbus-mining.html

NimbusMining ordered millions of dollars worth of Monarchs, just like their sister company, HashTrade, did, and BFL was gung-ho in providing their number one purchaser kudos, yet later discontinued the practice.

I wonder why.

#ASKFTC
Nimbus was essentially a way to get people to pre-order more monarches. People would see that the Nimbus would use monarchs and would compare pricing and would see that buying the monarchs outright is more cost efficient, but would not make a cost calculation as to what it would take for the monarch to ROI
591  Economy / Service Discussion / Re: Circle takes forever to verify my UK cards on: October 30, 2014, 06:43:01 AM
I don't think they will ever accept you as a customer as they only accept US customers.

I don't think your credit card is the issue (well it may if you have a UK billing address) however the rest of your verification items will be an issue as there will be evidence of you not being a US resident
592  Economy / Service Discussion / Re: What Is Happening To Primedice? on: October 30, 2014, 06:39:19 AM
Primedice is becoming shittier and shittier!!

Unless he starts making better choices on some things, Primedice will be going down quick! He's too greedy and his dev team is too lazy

Only changes they make are stupid vipchatroom is really not needed anymore since you have to wager a minimum of 5btc to talk in VIP chat

Yeah there are some cheaters, but the solution for stopping them is much easier than simply removing faucet he wants to remove faucet instead of implementing an automute for spammer!

And.. One has to wager 0.0001 BTC TO USE GENERAL CHAT??? WHAT IS THAT??

Your argument is that Primedice is trash because we are trying to keep trolls/spammers out of the chat and found an effective means to do so. Seriously though, it isn't hard to reach 0.0001 wagered simply by claiming faucet for a few minutes.

The amount of people that use primedice a day is probably 10x any other dice site right now, before we put in chat limits the amount of spam in chat was unmanagable. This limit isn't to make money but rather to heavily discourage ref link spam as someone would have to spend either a few minutes playing the faucet or deposit/play for a small amount before being able to post a link once and then get muted.


There are a lot of legitimate complaints about primedice, yours is not one.
Another point is that you can achieve higher "levels" in PD by appearing to be more active in the chat. This gives incentives for people to spam the PD chat with useless garbage in order to get higher faucet payouts.

IMO it is a bad idea to have incentives for people to be more active in the chat in the first place. I would argue that the chat will be naturally active with or without incentives for people to chat as people are naturally gong to socialize in the kind of environment that PD is.

My once complaint about PD is that they do not give away free drinks like the casinos in las vegas and atlantic city do. If PD could figure out a way to give gamblers free alcohol delivered by a beautiful cocktail waitress then I would certainly spend a lot more time there. 
593  Economy / Service Discussion / Re: PBMining is breaking wallets on: October 30, 2014, 06:25:09 AM
They are probably doing this to save on TX fees and to manage their unspent inputs.

You can get around this by using a third party online wallet service (like coinbase) to receive your payouts and then to withdraw your payout to your local wallet once the TX has enough confirmations for the service to allow for withdrawals.

The argument that you should always have possession of your private keys does not apply in this situation because you are already trusting pbmining with your mining power
594  Economy / Service Discussion / Re: Coinbase vs Bitstamp on: October 30, 2014, 06:18:28 AM
If bitstamp is going to be using the US banking system then they will need to report similar information to the IRS.

There really is no way around having this information reported to the IRS unless you want to use a service like LBC, however the prices on LBC are sufficiently higher then the market prices so you would be paying a defacto tax that is higher then what you would pay the government in the form of worse prices
595  Economy / Service Discussion / Re: Bitstamp is bullying VERIFIED CUSTOMERS! on: October 30, 2014, 06:04:58 AM
I got an answer from Bitstamp saying that they will include my suggestions to the discussion of how to improve their services next time. That's all, I guess they didn't reactivate my withdraw possibilities so I'm pretty much done with Bitstamp.

However, I tested out localbitcoins for the first time last week and today I completed my first trade. I sold 10 euros worth of bitcoins to the user cortex and received the money as a SEPA transfer on the second banking day. My account in localbitcoins is Hyena by the way. So anyone who is having trouble with Bitstamp I recommend you use localbitcoins because they have made it really simple, no verification is needed. If you have used SR or BMR in past then you are already familiar with the way localbitcoins operates. The really cool thing about localbitcoins was that they have automatic SMS sending, so I actually receive an SMS immediately when my order is filled or needs my attention.
You need to remember that LBC is full of scammers, so you will likely spend a lot of time, at the very least protecting yourself against such scams, and will probably have a lot of failed trades because of a scam attempt against you. I would say that you are essentially trading the fact that you are essentially trading off the fact that you do not need to give up your identity documents for the fact that it will take many attempt to have a successful trade
596  Bitcoin / Development & Technical Discussion / Re: Bitcoin over tor [vulnerabilities] on: October 30, 2014, 05:52:38 AM
I think you could get around this issue by not running a full node via tor but to rather use tor to only push a new TX to the network by some trusted service. This would cause Bitcoin over tor to be more centralized (as mentioned above) however it would protect your identity. To protect yourself against an attack in which a tor exit node is able to fake a TX that was sent to you; you would want to use a mixing service to get bitcoin to be sent to your "tor" Bitcoin address (again centralization, but again protection of your identity).
597  Bitcoin / Development & Technical Discussion / Re: AttackerSuccessProbability(0.3,1)=0.627749 on: October 30, 2014, 05:40:13 AM
First I want to say that I am far from a Bitcoin expert.

My understanding is that as an attacker's percentage of the total hashrate approaches 50%, the probability of them successfully overcoming a deficit approaches 100%.

I believe this has to do with a) luck and b) the fact that the honest portion of the network will always broadcast found blocks while the attacking portion of the network will not broadcast a found block until they have a longer chain then the honest miners.
598  Economy / Service Discussion / Re: Take the BitQuick Seller's Challenge - Get paid $10 for selling your BTC! on: October 30, 2014, 12:56:28 AM
This sounds like a very good deal, however I am concerned that you need to deposit a large amount of money to the site before you are able to claim any money from the website. This would potentially allow the site to steal a large amount of your money if they were scamming and would essentially prevent you from testing it with very small amounts
599  Bitcoin / Bitcoin Discussion / Re: Does it exist a bitcoin wallet with 2FA? on: October 30, 2014, 12:51:01 AM
Trezor is better alternative to 2FA, but the main disadvantage is the Trezor price.


I would disagree. Trezor wallets will not give you a lot of protection if someone gains physical access to your wallet file (or your Trezor in this example) then you will not be very well protected (this is the point of wanting to have 2FA).

There are not any wallet services that both allow you to access your private keys and offer 2FA protection - access to your private keys essentially means that no one can deny you access to your keys - which is what 2FA essentially does if you cannot complete the 2FA process.

If you want to use 2FA then you must give up access to your private keys, if you agree to this then you could use a service like circle or coinbase (or many/most exchanges)
Have you actually read about Trezor?  From what I've read, the wallet is only on the device, and at the very least, a PIN (entered on the device) is needed to spend from it.  It is possible to also require a password (definitely entered on the computer) to spend from it.  I think that probably actually qualifies as 2FA but is even better than most.  Typically, for 2FA, you enter your password and the second factor that you receive via a separate conduit (that is sometimes on the same computer) both through the computer.  In this case, the second factor isn't random (so you don't need to receive it), but it isn't entered on the computer (so malware can't collect it).  Technically, there is also a paper backup to regenerate the wallet on a replacement Trezor, but the PIN and password are required for that to work, too.  I may not be remembering exactly right, and the configuration step may be a weak point if I am remembering incorrectly.  Moreover, persons could argue that it isn't 2FA, but "physical access to your wallet file" doesn't seem like a real possibility on a Trezor unless the device can be taken apart and the wallet data extracted from it.  I'm not sure whether or not this is possible without a password (PIN may be used for basic encryption), but it would certainly be less possible with a password since the Trezor doesn't know or use the password (computer deals with that, I think via encryption on the Trezor).
trezor will allow you to recover your wallet if you lose your trezor with your secret seed.

I think his point is that once you have access to the trezor wallet, all that you need to spend coins in your wallet is your pin/password (which is essentially the same as a password to decrypt an encrypted file). If you do not need to receive anything from a device that is seperate from your computer then you are very much not using 2fa, but are rather using a password .

I am not sure what your logic is behind your statement regarding entering a static token into your computer being better then traditional 2fa
600  Economy / Service Discussion / Re: Didn't received payment from one of my 2 pbmining accounts on: October 30, 2014, 12:44:04 AM
Everyone else got paid it seems. Check your wallet to be sure it is synched.  
yes I'm sure I use bitstamp and usually get 2 payments this week got only one.. Second Never arrived. How you suggest to solve?

get a real wallet

so do you suppose that sending bitcoin to bitstamp is not  secure because transaction may be lost? By now I got both payments perfectly every week for months.. So have I to get a couple of addresses on blockchain and change payout address on pbmining? May I get my lost payment someway or may I get transaction code to check about it? thanks
sending bitcoin to bitstamp is not good because you are allowing a third party to control your bitcoin over long periods of time. It is much better to use a wallet service in which you control the private keys (as well as generate the private keys) - a few examples of this would be: blockchain.info, multibit, electrum (although you do not generate your private keys in this case), and QT
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