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101  Economy / Economics / Re: Switzerland as a bitcoin haven on: May 06, 2017, 06:44:45 PM
I believe Switzerland is going to become a bitcoin paradise country where everyone with BTC will go there and retire. In years time, Switzerland will give full support to bitcoiners, so you will be able to buy anything you want with bitcoin without the need to pay any taxes. ATM bitcoin machines everywhere.

There are already ATM machines in every location you can imagine.

http://www.coindesk.com/swiss-government-paving-way-bitcoin-blockchain-banks/

They are obviously building the infrastructure to attract bitcoin holders there. We saw how bank secrecy is a failure with the leaks of bank accounts from lots of people. I think those famous idiots with lots of money will learn about bitcoin and start using it to hide their money from governments, and this will push the price up big time.

Generally I agree. I think hide is the wrong word. Governments have no business with peoples' money anyway.


One simply can't use hide, money and government in the same sentence!

Government owns your money and it will be futile to hide it from them!

Touchť!  Governments have no business kniwing peoples' wealth even less regularly stealing from it.
102  Economy / Economics / Re: Switzerland as a bitcoin haven on: May 06, 2017, 02:37:11 PM
I believe Switzerland is going to become a bitcoin paradise country where everyone with BTC will go there and retire. In years time, Switzerland will give full support to bitcoiners, so you will be able to buy anything you want with bitcoin without the need to pay any taxes. ATM bitcoin machines everywhere.

There are already ATM machines in every location you can imagine.

http://www.coindesk.com/swiss-government-paving-way-bitcoin-blockchain-banks/

They are obviously building the infrastructure to attract bitcoin holders there. We saw how bank secrecy is a failure with the leaks of bank accounts from lots of people. I think those famous idiots with lots of money will learn about bitcoin and start using it to hide their money from governments, and this will push the price up big time.

Generally I agree. I think hide is the wrong word. Governments have no business with peoples' money anyway.
103  Bitcoin / Bitcoin Discussion / Re: Girl gets raided by police looking for bitcoins on: May 02, 2017, 05:21:07 PM
https://www.reddit.com/r/Bitcoin/comments/68nh7q/knock_knock_police_you_have_bitcoins/

I think this deserves it's own thread, and it shows how much we need Confidential Transactions, CoinJoin, Schnorr sigs, Mimblewimble, and whatever else we can do to improve fungibility of bitcoin.

The fear of ending up in trouble due owning BTC that may have been connected to criminal activity in the past is a very reasonable concern.

How do we solve this? Tone Vays already said that he is pretty scared to sell his BTC because he doesn't know if he is going to end up having problems.



We already have Monero.
104  Alternate cryptocurrencies / Altcoin Discussion / Re: Anyway to "Cold Storage" USDT ? on: April 23, 2017, 05:29:33 AM
I haven't really used this feature in the past but I noticed that with Poloniex you are able to withdraw the USDT. Since the price is very high at the moment, was wondering if its possible to withdraw this, keep it in cold storage somewhere? Since I don't want to keep large amounts in exchanges where I don't have the private key.

Searching and Googling doesn't really provide much info, and the technology seems pretty new still.

Wondering if someone can give some input.

A normal bitcoin paper wallet generated in all the normal secure ways will work fine. Send the coins to that wallet address.

When you want to spend them then download and sync up the Blockchain with the Omni Layer full node and import the private key. 

Do the whole process to be sure first and send about $5. Once you are satisfied with the solution make a second paper wallet for the larger amount.
105  Alternate cryptocurrencies / Altcoin Discussion / Re: Are PIVX and Zcash viable alternatives? (Controversy around dash and Monero) on: April 16, 2017, 11:10:11 AM
I phrased my previous thread quite badly so here it is again.

There was a paper released on Monero saying that about 20% of transactions could be traced (not sure how true) and smooth said that there are known flaws in Monero.
At the same time, Dash always has the premine problem, so are Zcash and PIVX better for anonymity?

Link to Monero paper please?

Thanks!
106  Alternate cryptocurrencies / Altcoin Discussion / Re: Deadline Looms on Ethereum Classic DAO Withdrawals on: April 14, 2017, 03:39:23 PM
Because 1 year is more than enough time. If these people don't bother to take their funds then it most likely means they are insignifiant, just a large number of people owning little amounts of money.
WHG aren't part of ethereum foundation. At first few members of EF "supported" ( the kind of support you can offer with words, not actions ) such movement because the WHG outsmarted the hacker and managed to control most funds, but that was it.

EF can't run out of funds because they have about 50mil $ atm, enough funding for 10 years+ no matter how big the team gets.

Except when a year is not enough. So many reasons.  Weirdly ETC is doing the wrong thing. 
107  Alternate cryptocurrencies / Altcoin Discussion / Re: How to maintain consensus without the use of inflation? on: April 07, 2017, 05:53:38 AM
How to solve this problem?

PoW can be eliminated due to transaction fees alone not being enough to sufficiently protect a PoW network. Consequently, due to the electricity costs of mining, inflation through block rewards is needed.

The only possible solutions (as of now) are variants of PoS algorithms, as a staking node's cost of upkeep is dramatically lower than PoW.

There are a few aspects that can sufficiently incentive PoS consensus without the need for inflation:

1. Transaction Fees
1a. A percentage of all transaction fees should be paid to those who stake their tokens.
1b. A percentage of all transaction fees should also be "burned" (read: destroyed).

2. Token Value Incentive
2a. Token holders have the inherent incentive to protect their chain, because any meaningful attack would surely plummet the value of their tokens.
2b. Making it stupidly easy to do so would provide further incentives for them to do so through the use of features such as cold wallet staking.
2c. Making sure the coin has utility, so there is always demand for it on the free market, is another way of providing token value incentive. This can be done by ensuring the cryptocurrency provides a useful service or feature, for which fees are burned for providing.
2d. The combination of burning fees, making it easy to participate, establishing utility and ensuring there are no sources of inflation would create a sufficient amount of token value incentive.

3. Reducing The Amount of Participation Needed
3a. Reducing the amount of participants which are needed to secure the chain would make it further likely that no inflation would be necessary. For instance, with a dPoS-like PoS algorithm, only a handful of "volunteers" would be needed.
3b. Even if transaction fees are not very lucrative at the start, surely a handful of large token holders would still have enough incentive to "volunteer" due to token value incentive.



I am fully convinced deflationary cryptocurrencies will be the next big thing in the blockchain space, as they are an investor's wet dream. This is just a solution I have hammered out in my head recently, but I am sure there are other solutions. I am interested in hearing if anyone else has any other ideas to improve upon mine, or perhaps something completely different? I know @Anonymint has a solution of his own, but unfortunately we will have to wait to hear his idea.



Bitcoin inflates until year 2140 or so. Worry about this a little later.
108  Bitcoin / Bitcoin Discussion / Re: So we tried out Lightning tonight at ROOM77 on: April 02, 2017, 09:00:50 AM
For many years now we have been accepting Bitcoin (with zero confirmations and directly, not through Bitpay) at our bar/restaurant in Berlin. Today we have deployed a testnet lightning node and accept testnet coins via the lightning network from a few customers to get a glimpse into the future. And that future looks shining bright!

- No more waiting for the customer's transaction being broadcasted, transactions arrive in milliseconds, not seconds (or sometimes minutes in case the customer uses coinbase or another bank wallet).
- No more looking out for double spend attacks. Not even Peter Todd is going to RBF us on LN.
- No more confusion during times of malleabillity attacks. Transaction malleabillity is a thing of the past.
- Massively advanced privacy for us as well as our customers as only we can see the transactions on our payment channel.
- And we will finally be able to offer free-of-cost payments to our customers.

As a merchant I can tell you that every merchant on the planet wants this stuff. It is like after all these years Bitcoin shows that with LN it can live up to its promises in regards to efficiency, speed, irreversibility and privacy no matter how many people will use it.

Thanks to all the developers making this possible!

edit: pics http://imgur.com/a/64iwK



reddit thread: https://www.reddit.com/r/Bitcoin/comments/62uw23/lightning_network_is_working_room77_is_accepting/

I'm not sure how much you talked to your customers during beer but I'm interested which wallet software they used for the LN/test transaction
109  Bitcoin / Bitcoin Discussion / Re: An Australian because I sold the keys, software, and all code to an Australian. on: March 27, 2017, 09:53:20 AM
Turns out he did not stay as secret as I wanted him to. Satoshi Nakamoto isnít some silly guy who wants attention. He just wants to be left alone; in secret. How many bloody accounts do you think a guy has around these forums? Quite a lot.

You can use stylometry to check, but it wonít work. The Bitcoin white paper was written by me, machine edited and edited by me again, and then re-written by a program, which I touched up all errors. Hence its perfection. Youíll never trace me. I sold my identity for a reason. You all think it has to be a group, that the code is too perfect for one man to have written. That is pure idiocy. Itís concise and even and the years I spent making sure of that hold true today.

I told it to an Aussie for a reason.

Youíll never know who Satoshi is, just like it was meant to be when I left. Have any of you been in my presence? You can guess. You can think. You can hope. But you havenít.

You are all Satoshi, and that is the most you will ever know. I wonít sign this. I wonít be back. This is the last message from the REAL Satoshi Nakamoto you will get. Ever.
As written by a 15 year old...

Dear Satoshi,

I didn't know you were 7 years old when you completed bitcoin.

Thanks for the information and thanks even more for Bitcoin.

Take it easy,
The Dude from Los Angeles.
110  Bitcoin / Legal / Re: Could cryptocurrency holders be attacked by IRS? on: March 27, 2017, 08:03:06 AM
I am wondering. Could laws change and eventually the IRS and whatever agency combined might go and scour all the blockchains and try to tax the shit out of everybody they presume to be holding cryptocurrency?

Privacy based coins that actually work would be safe but what about BTC its self without the use of those mixing services, current ETH, and XEM for example that has no intentions for privacy at all?

Short answer, yes.

Long answer, if you have money the IRS wants it b

Longer answer, Bitcoin CAN NOT be taken from you easily like your bank account.  They need a rubber hose or guns to do it.
111  Bitcoin / Bitcoin Discussion / Re: Bitcoin holders, are you diversifying in case the fork proves catastrophic on: March 20, 2017, 10:14:06 AM
Is anyone using their btc to buy cars or houses in case the BU fork hits bitcoin hard?

Maybe converting btc to fiat or another crypto?

If you held bitcoin, how would you diversify your holdings to keep them safe in the event the hard fork forks things up?

 Undecided

No

I diversify anyway. 5% Monero.
112  Alternate cryptocurrencies / Mining (Altcoins) / Re: Can mining altcoins be profitable on a gaming PC? on: March 13, 2017, 11:30:15 AM
I am completely in the dark when it comes to mining and am quite new to cryptocurrencies in general. But was wondering if it is possible to still make some money on my PC.

I believe mining mostly uses GPU, and if so, would a radeon R9 390X be sufficient to make it worth the effort?

(P.S. I have it overclocked and watercooled as well if that would make a difference) and im paying just under 12 cents/Kwh.

If your electricity is free, yes.
113  Alternate cryptocurrencies / Altcoin Discussion / Re: what to do with your USDT? Buy LTC on: March 13, 2017, 10:10:44 AM
i sold ETH and ZEC for USDT. But i dont want to keep them on an exchange or in https://wallet.tether.to.
buying BTC is not an option right now....

so what to do? buy LTC? and more them to my wallet. why? because LTC-USDT-prise is more stable than BTC.

You don't need to buy litecoin if you want to keep USDt.

You can download the Omnicore Bitcoin wallet and keep the USDt on your own computer.

http://www.omnilayer.org/download.html#download
114  Economy / Trading Discussion / Re: Hold in Dash overnight or USDT? on: March 12, 2017, 08:07:47 PM
Always hold in Bitcoin in your own wallet.
115  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: Monero Brainwallet Generator on: February 18, 2017, 08:49:10 PM

---

Warning: in nearly all cases, the use of a brainwallet is extremely high-risk/stupid. Do not use this tool unless you have a clear need and understand the risks.

---

The tool can be found at http://www.monerobrainwallet.com/.

A brainwallet is a Monero address and keyset derived from a user-defined passphrase. This allows the seed to literally _never_ be written down or typed, and therefore ensures (in theory) that the funds in the associated address are safe forever within the brain of the creator. In reality, humans are shockingly poor sources of entropy and the phrases that they create are notoriously easy to crack (albiet far more difficult in Monero than Bitcoin due to the underlying architecture). Nevertheless, in very specific scenarios and use cases (e.g. crossing hostile borders, fast-approaching malign forces)  they do have a role to play. If you are unsure at all or are unaware of the risks - do not use this tool.

https://www.youtube.com/watch?v=foil0hzl4Pg is a good talk on how someone managed to gain access to large numbers of Bitcoins by exploiting poor entropy in brainwallet creation in Bitcoin. Don't be a statistic Smiley

The github repository for this site can be found here: https://github.com/taushet/monerobrainwallet.

This tool was made by taushet (https://www.reddit.com/user/taushet) on as a fork of Luigi1111's toolkit (https://github.com/luigi1111/xmr.llcoins.net). If you want to donate Monero to support the core development team, send it here: donate.getmonero.org. If you want to buy me a beer/help pay for hosting, send some Monero here: 4BHeoptXyZ4BkqHcyQo6QSA51q7M9uYAKB75bAuCwcbUavsbcjwe6ocJhRDyJCHSTd9Cenq418xq3P2 dZK2J1CVHKbkTjTi.



Hi. Check out https://letsencrypt.org
116  Alternate cryptocurrencies / Altcoin Discussion / Re: zcoin vs zcash on: February 18, 2017, 08:07:53 AM
Someone on here had listed what appeared to be some big advantages  zcoin had over zcash. I can't seem to find them now.

Are there some worthy advantages?

Also are these bound to get forked and the 20% tax removed pretty soon? Not that I'm sure removing development tax altogether is a good thing but is there anything stopping this and why not more zcoin clones already?

edit - found the thread now...



Why bother with either. Monero kicks both their assess.
117  Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: New friendly monero project on: February 17, 2017, 11:10:43 PM
Monero QR code generator for your long addresses Smiley

http://moneroqrcode.com

Feel free to give a feedback.


Neat, thanks man.

Make sure it works in Tor Browser please.
118  Bitcoin / Mining speculation / Re: Is Bitcoin Mining still profitable? on: February 14, 2017, 09:27:22 PM
As the subject, I would like to know if is it still profitable if we investigate on hardware to mine bitcoin at this moment. Thanks!
it may not be profitable but it is a private way to buy Bitcoin.
119  Economy / Economics / Re: EU ramps up war on cash on: February 11, 2017, 08:30:32 AM
http://www.zerohedge.com/news/2017-02-10/cash-no-longer-king-europe-accelerates-move-begin-elimination-paper-money

If you live in the EU, find out if your elected politician supports this or not. If they do, or if they are ambivalent, vote them out. If they tell you that this is needed to fight terrorism, they are either lying or are ignorant...all the more reason to vote them out. Wars and wars on terrorism have been fought for centuries without removing cash.

This is a frontal assault on freedom.

I agree this is shitty.

I pose this question: will Bitcoin or the Euro be more important in 10 years?
120  Alternate cryptocurrencies / Altcoin Discussion / Re: How to analyze an ICO project going to be scam or not? on: February 08, 2017, 05:31:35 AM
As we know, new coins is born almost every week. ICO is inviting peoples to invest on their project with the promise of big return.
But we have seen many of them disappeared without a trace after hold fund from investors. This make a decrease in the level of trust to invest on new project from new developer.
How do we know if some project is going to be scam? What factors make it different with "good future" project?
but you're joking, right?

In 2017 ICO means scam. Don't be fooled. Plenty of people know how to make money off of scams and you may too. But don't fool yourself that the replacement Bitcoin, Ethereum or Monero are going to be born this year.
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