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1321  Bitcoin / Bitcoin Discussion / Re: Wikipedia: "Some criticize Bitcoin for being a Ponzi scheme..." on: November 13, 2012, 07:22:14 AM
I think SudoGhost makes a good and valid point, which is that some *have* criticized Bitcoin of being a ponzi. Though we as Bitcoin users may be offended by these comments, they are the publicly-stated opinions of some and must be acknowledged in this article.
The problem is that those opinions are factually incorrect, and yet the article lacks any refutation of those false opinions, and gives the impression those opinions are correct. That statement can stay there, as long as it's refuted with the truth.
1322  Bitcoin / Bitcoin Discussion / Re: Wikipedia: "Some criticize Bitcoin for being a Ponzi scheme..." on: November 13, 2012, 03:24:20 AM
Ahahahaha...... this is unbelievable.

update: 404 maintains a steady lead.
1323  Bitcoin / Bitcoin Discussion / Re: Wikipedia: "Some criticize Bitcoin for being a Ponzi scheme..." on: November 13, 2012, 02:47:18 AM
Damn it why has no one mentioned the ECB comments concerning Bitcoin as a Ponzi scheme?

Does no one here really not have a Wikipedia account with sufficient creditability to add to the discussion?

It's being mentioned, only, they are cherry-picking out the negative comments (ECB paper is fairly neutral on the Ponzi-terminology), except for Rudd-O, who defended bitcoin, but got a bit too fed up with SudoGhost and went on a rant Smiley .

I just dug up one of my old Wikipedia accounts and did it myself. Lets see if they delete my comment. It was perfectly civil and rational.
1324  Bitcoin / Bitcoin Discussion / Re: Wikipedia: "Some criticize Bitcoin for being a Ponzi scheme..." on: November 13, 2012, 01:58:30 AM
Damn it why has no one mentioned the ECB comments concerning Bitcoin as a Ponzi scheme?

Does no one here really not have a Wikipedia account with sufficient creditability to add to the discussion?
1325  Bitcoin / Bitcoin Discussion / Re: Wikipedia: "Some criticize Bitcoin for being a Ponzi scheme..." on: November 12, 2012, 01:05:54 AM
Obviously I am completely aware of the lowbrow tactics Wikipedia staff will use to manipulate articles.

But at some point they have to accept the facts, especially when the reliable sources SudoDouche was asking for become available.

They can only propagate lies for so long. They will be forced to change it soon.
1326  Bitcoin / Bitcoin Discussion / Re: Wikipedia: "Some criticize Bitcoin for being a Ponzi scheme..." on: November 12, 2012, 12:27:09 AM
This gonna be interesting.

Those comments from the ECB sum it up perfectly. And considering the authority of the ECB, it should be enough to totally debunk that accusation on the Wikipedia page.

I dare you to edit it out using that article as a reference.
I don't think it's possible to edit the Bitcoin article because it's locked. But if I could edit it, I would change it to something like this:

Quote
Some criticize Bitcoin for being a Ponzi scheme in that it rewards early adopters through early Bitcoin mining and increasing exchange rates.[46] However, under the definition of a Ponzi scheme, Bitcoin is lacking many of the most important characteristics of a Ponzi scheme and cannot truly be classified as a Ponzi scheme.

The European Central Bank released a report in October of 2012 titled "Virtual Currency Schemes". On page 27 of this report they put forward several reasons why Bitcoin is not a Ponzi scheme and does not fulfil the definition of a Ponzi scheme.[ECB SOURCE]

Their first point is that Bitcoin is decentralized and as such "there is no central organiser that can undermine the system and disappear with its funds". They also note that "the scheme does not promise high returns to anybody", a key characteristic of a Ponzi scheme.
1327  Bitcoin / Bitcoin Discussion / Re: Wikipedia: "Some criticize Bitcoin for being a Ponzi scheme..." on: November 11, 2012, 11:44:14 PM
Those comments from the ECB sum it up perfectly. And considering the authority of the ECB, it should be enough to totally debunk that accusation on the Wikipedia page.
1328  Bitcoin / Bitcoin Discussion / Re: Our response to Dmytri Kleiner's misunderstanding of money on: November 10, 2012, 11:53:13 PM
Dmytri is right about this much: Bitcoin will never replace Government fiat money completely... at least not in powerful western nations any time soon. The reason why has nothing to do with the inability of the Government to tax a currency like bitcoin. The reason is because the system is so heavily dependent on endless streams of debt-based fiat money. They will never recognize a currency like bitcoin as an official financial tool for paying public debt and they will never allow us to pay taxes or fines in anything other than their fiat Government currency. Well certainly not in our life times. Bitcoin will simply fill it's own niche in the currency market, all other Government currencies will still exist along side bitcoin... they each serve a purpose and have different properties, the Government will always use a currency with properties they desire. And they've spent a lot of time crafting this absurdly mind-boggling debt based system made of unicorns and rainbows.
1329  Bitcoin / Bitcoin Discussion / Re: getting BTC into ISO 4217 currency list on: November 10, 2012, 02:05:11 PM
Nicely written OP. I too am quite interested to see the how they respond to this.
1330  Bitcoin / Bitcoin Discussion / Re: Hackers steal Kim Dotcom's me.ga-domain and asks for Bitcoin! on: November 08, 2012, 03:21:29 AM
Errrr... just three weeks before MegaUpload was shut down, Dotcom announced the development of a revolutionary music download system called Megabox which would allow artists to keep a large majority of their profits and not pay huge royalties to record companies.

Quote
What the hell is Megabox right? Good question. It was set to be a digital music store that was going to be entirely cloud based (don’t really know what that means but it sounds technical and cool) and would offer the artist a better deal than any other similar DIY distribution store or record deal. Even a MAJOR label deal, as Megabox was looking to pay the artist up to 90% of their earnings. To put this in context with other record deals  - and critically how much the labels and suits would be losing if Megabox got off the blocks – a typical record label would give the artist around 5% of the profits if they were lucky. That’s A LOT of potential lost revenue if Megabox got set up.

On top of this, Megabox also sought to pay the artist for any music that was downloaded for free. Kim ‘Dotcom’ Schmitz explains: ‘We have a solution called the Megakey that will allow artists to earn income from users who download music for free. Yes that’s right, we will pay artists even for free downloads. The Megakey business model has been tested with over a million users and it works.’

So essentially, assuming all this was true, Megabox could have put all record labels out of business. They already apparently had several deals with big (unnamed) name artists ready to announce over 2012 because many of these artists were ‘fed up with outdated business models’ that they felt exploited their talent.

R.I.P. Megaupload: The Truth
1331  Bitcoin / Project Development / Re: Deja Vu - Bot Scripting IDE on: November 05, 2012, 03:34:18 AM
Version 0.1.2.0 has been uploaded to my server (I thought I uploaded it the other day but apparently not).

I've also created an official Deja Vu page on my website:

http://bitfreak.info/?page=tools&t=dejavu
1332  Bitcoin / Project Development / Re: Animated Bitcoin logo inspired by awesome guys on: November 04, 2012, 11:41:50 PM
Nice job, glad you posted it.

Is there a meaning for the different colors, or is it for aesthetic purposes only? Like the motion on how it constructs the 'B'.
It appears to be a 3D box cut out like a B shape. Two sides of the box are striped vertically to give a nice effect.
1333  Bitcoin / Project Development / Re: Deja Vu - Bot Scripting IDE on: November 02, 2012, 08:46:00 AM
I just made a small fix to the application. If you were experiencing problems starting Deja Vu or viewing the Usage page, then try downloading Deja Vu again and it should work fine. Even if you're running a 64 bit system you still need to get the 32 bit version of OpenSSL otherwise you'll get the error "Could not load SSL library".

EDIT: just applied another small update (nothing critical). App has been updated to version 0.1.0.2 0.1.2.0.
1334  Bitcoin / Project Development / Re: Deja Vu - Bot Scripting IDE on: November 01, 2012, 04:14:44 PM
Quote
I am really hoping that you might consider moving from closed source software to an open source model and consider that there are other ways to make money from software development.
I will certainly keep that in mind. It may become open source at some point in the future, but for now the license will remain the same.

Quote
My upcoming open source project may in fact be of help to you for this project (and others like it) so PM me if you are interested to know more.
Sure, send me some basic details about the project and I'll give you my thoughts if I find it relevant or interesting.
1335  Bitcoin / Project Development / Re: Deja Vu - Bot Scripting IDE on: November 01, 2012, 04:00:29 PM
If it is not open source then I suggest that no-one playing with it should put anything such as a password or an API user key into it unless they want to risk losing their BTC (sorry but that is just basic safety precaution).

Actually that's a very legitimate concern and I didn't even think of that. If anyone want to develop an open source alternative then go right ahead. That's what happened in the Villavu community. They started with a closed-source application called SCAR and then they ended up creating their own app called Simba.

At this point I feel it's best to keep it closed-source for several reasons. If you don't want to trust me that is fine, but I have been around these parts for a while now and my website which has been online for close to a year now should be pretty good evidence I wouldn't do anything to harm the image of bitcoin.

I'm sure as many people start trying it out and no one reports any stolen bitcoins then all will be fine. In fact, if you're so worried, then run it in a sandbox or virtual environment and monitor its activity using Wireshark or something. Simple enough.
1336  Bitcoin / Project Development / Deja Vu - Bot Scripting IDE on: November 01, 2012, 03:43:03 PM
This is a little project I started on a few months ago and got side tracked. I started working on it again the other day and just finished applying the final touches. This application is basically a simple scripting IDE which allows programmers to develop their own custom trading bots very quickly.

Deja Vu is a Windows-only program (sorry) which provides a simple Pascal Script IDE with some syntax highlighting and basic debugging ability. The Pascal Script engine is proven to be a very flexible and powerful framework for creating robust macros and bots (see villavu.com for a good usage example).

Initially Deja Vu did have support for Mt. Gox and also TradeHill. Obviously TradeHill is no longer operational so the app only supports Mt. Gox now. TradeHill even had a test API which was extremely helpful, but Mt. Gox doesn't seem to have that. The only way to test your bots is to use the real API it seems.

Most functionality has been tested and appears to work fine but keep in mind this is an early beta release mainly for testing purposes. No trading scripts are provided in the package. I don't know what you want your script to do, and I don't want to hold any liabilities that may be associated with providing such scripts.

There are two main parts to this software. The executable application and a pascal script library which contains all the important bitcoin and trade related functions. The application its self is not open source, but it is free of charge and free to share (the license is the Creative Commons BY-ND 3.0).

The pascal script library (Bitcoin Resource Library or BRL) can be included into your scripts and provides the main trading functionality. This library is written in pascal script so its easy to edit and it's obviously open source. The reason I did it like this is so that BRL can be managed by other parties.

The truth is I don't know much about trading, with bitcoin or any other financial instrument. I've provided the basic groundwork (ability to place trades, cancel trades, get market depth, etc), now the Bitcoin Resource Library can be expanded by people who really know what functionality is needed.

That's why BRL is available to download as a separate package and not included with Deja Vu. If or when some one decides to start developing BRL as an open source project on sourceforge or something, I will stop offering the BRL files on my website and just point users to the open source project.

The official page for this software can be found on my website under the Bitcoin Tools section or you can simply click here. You can find further helpful information about using the Deja Vu software by looking under Help->Usage within the application menu. If you have any other questions or concerns please post them here.

Screen: [ view ]
Deja Vu: [ download ]
BRL: [ download ]
1337  Economy / Currency exchange / Re: bitcoinspace.com - Trade your BTC for Money Orders and/or MoneyPaks today! on: October 18, 2012, 04:50:14 AM
post removed
1338  Bitcoin / Project Development / Re: Bitcoin SCI [PHP]: process transactions yourself! (addresses gen, IPN, QR Codes) on: September 09, 2012, 09:52:46 AM
What was the problem?  How crucial is it to make the private key less than the order of the generator?
The problem it seems, was rather trivial. The private key hex string needs to be exactly 64 characters long but some of the keys generated were shorter (smaller number). I solved it by left padding the keys with '0' until 64 characters long. It appears my script was generating valid private keys but I wasn't padding the hex string properly when they were too small. The bitcoin address is generated via hashing and so it seems if you don't pad the private key correctly you'll still get a valid looking bitcoin address but the private key you have isn't the right one for that bitcoin address. Adding in that padding causes the hashing algorithm to output a totally different bitcoin address.
1339  Bitcoin / Development & Technical Discussion / Re: create btc-address + key in only PHP ? on: September 08, 2012, 08:08:12 PM
Bitcoin SCI (PHP): process transactions yourself!

That project contains all the tools necessary for generating bitcoin addresses with only PHP. It started as a simple effort to generate new bitcoin addresses in PHP but I decided to go that extra step and create a sort of private bitcoin payment gateway. It allows for generation of new addresses and confirmation of bitcoin transactions without having bitcoind installed on the server.

Or to provide a potentially simpler alternative solution, there's also the PHP Bitcoin Address Creator which is PHP script designed to execute a variant of the bitcoin-off-the-grid bash script. However the bash script has multiple dependencies so it's not exactly plug-and-play in all cases, and that's why I opted to design a pure PHP solution.
1340  Bitcoin / Project Development / Re: Bitcoin SCI [PHP]: process transactions yourself! (addresses gen, IPN, QR Codes) on: August 25, 2012, 04:33:48 AM
Another important update: I recently noticed that the private key generation wasn't producing valid private keys most of the time. I overlooked this problem because the public keys generated from those private keys seemed to be perfectly valid 100% of the time. It wasn't until I tried to import some of those keys into my StrongCoin eWallet account that I noticed the problem with the private keys (admittedly I should have tried importing the private keys earlier). Since this thread died out relatively quickly I assume not many people actually tested this script or took the time to look over the functions as I asked, otherwise I'm sure someone would have noticed this problem. So I hope it didn't cause anyone to loose any bitcoins, and I'm very sorry if this has caused you any inconveniences. Rest assured the problem appears to be completely fixed now and all private keys generated are valid. I also made a bunch of other small updates to the script if you want to test it out (such as support for blockchain.info). I can only make it better and weed out the bugs if people are willing to try it and provide me with feedback.
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