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241  Bitcoin / Bitcoin Discussion / Re: Proof of Stake on: March 11, 2012, 06:10:19 PM
No offense, but this is a pretty silly hack to fix the problem. Make it more centralized and concentrate even more power to the bitrich?

https://bitcointalk.org/index.php?topic=64637.0

Here I describe the early musings of a "heuristic" approach...


Blockchain Defense
Heuristics: All clients agree that competing blocks will have priority weight based on number of transactions, average age of coins in transactions, and other factors.

Would it not be possible to make proof of stake one of those factors?



242  Bitcoin / Bitcoin Discussion / Re: Satoshi Nakamoto Found? on: March 08, 2012, 02:41:03 PM
Agree, its not important.

When I first heard about Bitcoin I ofcourse as everyone else wanted to know who Satoshi Nakamoto was.
But I now think its best just to not find out unless he/she/it/they want to reveal themselves.
Its not even interesting. Bitcoin and cryptocurrency is out now.
243  Economy / Speculation / Re: Price held up pretty good in the latest fiasco? on: March 07, 2012, 08:22:22 PM
And if MtGox gets hacked? Or targeted by law?

I think this is the next big thing to watch out for. A wrong move from government or law enforcement, and BOOM there goes the bitcoin price.

Not sure it would be such a huge impact as one might believe if for example crypto exchange could take over after a while, its not like it used to be.


244  Bitcoin / Bitcoin Discussion / Re: Security update: duplicate transaction vulnerability fix on: March 07, 2012, 08:05:05 PM
All of this technical stuff is way over my head, but I'd like to share my ignorant thoughts anyways.

It seems to me that 8 days is not enough time for people to really do their research on the matter. If I were a miner, or the operator of a mining pool, I would want to know EXACTLY what I'm doing before I made any serious changes.

Secondly, even if 8 days is enough time there is something unsettling about this. What you essentially have is a few highly skilled coders in the know. If they can dupe the mining community into something, anything, nefarious it could destroy Bitcoin. Obviously, I'm not saying that they will, but posit this:

Imagine highly skilled feds, or any other criminal organization, infiltrated the upper echelon of Bitcoin coders. They spent long hours making it better and building a reputation for themselves, slowly but surely dominating the entire field of coders. Then, one day, it's time to destroy Bitcoin and they issue some sort of scenario similar to the one we're dealing with now, for the mining community to go to a new blockchain or something, and the mining community takes their word for it, and BAM, Bitcoin is hashed forever.

I understand this is conspiracy theory stuff, but can anyone unsettle my fears about this scenario?

Simple. As long as the process is completely transparent and open there's really nothing anyone could "sneak" past everyone else in order to cause damage. And if you checked the OP, it pretty much doesn't get any more transparent then how they're going about with this fix. I mean you can even read the mailing list how the devs formulated the fix..

Two more questions then:

Is 8 days really enough time to vet a potentially nefarious plan?

What if a few people DO see something nefarious in it, will they be listened to, or ignored?

Also (all?) of the coders are known by real name. If they f*ckup bitcoin, they will be known by everyone as the person who screwed things up.
That would be the same as destroying many peoples money, and time invested and many companies and that is not like something you would like to do, ofcourse there is allways the possibility that they are threatened by jail or whatever unless they do this. But in this case its far from very likely.
245  Bitcoin / Bitcoin Discussion / Re: Vote on VODO: accept donations in bitcoin on: March 06, 2012, 02:26:14 PM
Cant find any Bitcoin option.
Where?
246  Bitcoin / Bitcoin Discussion / Re: [SOLVED] Bitcoin's chicken and egg problem on: March 06, 2012, 08:31:28 AM
The forum has way to many subforums. Reaching critical mass is nr1. This spreads their users out very thin.
For that its better to start with as few as possible.
247  Economy / Economics / Re: The positive effect of news of stolen bitcoins on: March 04, 2012, 07:46:16 AM
All publicity is good publicity. Hard to tell if this is the case here. Many will think, Bitcoins are not safe. But it will increase their media exposure and also as said, if they are worth stealing they are worth having.
248  Bitcoin / Development & Technical Discussion / Re: Elliptic Curve Calculator UI (now part of Armory) on: March 02, 2012, 07:16:07 AM
Very cool work!

I really hope you get the crowdfunding completed!

I sent some coins earlier, gone send some more.

249  Economy / Speculation / Re: The chart thread -- predict the price out to 2014 on: March 01, 2012, 11:58:50 PM
I think the floor is pretty solid between 2$ and 4$, with plenty of people ready to buy all the cheap coins, and that won't change with the reward drop. So if there's big fluctuations it will be between that and 10$.

Can anyone come up with a theory of how the 50% reward drop could lower the prices?

Yes, miners leaving when price has not rised, most investors having bought, "while still cheap" just waiting for price to rise, when it dont miners leave, causing lack of faith from investors and triggering panic, causing price to go even lower and even more miners to leave and Bitcoin goes really low.


I believe we might have to wait 4,5 five years for Bitcoin to stabilize.
There are 4 years ahead with 3500 new coins each day having to be bought to keep up.
250  Bitcoin / Bitcoin Discussion / Re: Advertise Bitcoin on every single banknote ( and make a new game ? ) on: March 01, 2012, 08:08:28 AM
Just a note, in my country I have heard it might be illegal to write on bills. But its one of those laws that nobbody cares about, since noone does it.

How about writing down the value of a Bitcoin vs the value of the dollar bill. Now after a few years, people will see this and think back at when bitcoin was only around $5.

251  Bitcoin / Bitcoin Discussion / Re: Bitcoin Magazine on: February 29, 2012, 04:27:21 PM
The new fee/tax has been postponed: http://jp.dk/indland/indland_politik/article2709317.ece (run through google translate if you must)

This goes deeper than that Wink They dont want you to know what happens in the outside world.
252  Economy / Economics / Re: Some quick math for fun: what if the total value of Bitcoin reaches X? on: February 26, 2012, 12:43:46 PM
If same as Facebook.

X=$100 Billion (Estimated value of Facebook in 2012)
One BTC $4761
253  Bitcoin / Bitcoin Discussion / Re: Difference Between 51% and 52% Attack on: February 26, 2012, 12:33:13 PM
The point is, if you are going to invest in bitcoins, also invest hashing power.

Its a good advice but when you buy you are also indirectly supporting the miners, so they can increase their hardware.

I think that if the main client got support for easy P2pool mining lots of people would mine somewhat just to support the network.

Atleast I would, but I do not have the time to put effort into buying a mining rig.
254  Other / Politics & Society / Re: FBI: buying coffee with cash = terrorist on: February 25, 2012, 09:55:50 PM
Howto identify a dangerous paranoid person.

If you hear someone who thinks they see a terrorist because they allways buy coffe with cash.
Report this person to the NSA.
255  Other / Politics & Society / Re: FBI: buying coffee with cash = terrorist on: February 25, 2012, 09:46:33 PM
Ok and if someone allways buys coffe with a card, their FBI. Its great than VISA and Mastercard know straight away who the FBI are, those erhm...smart ones who everyday purchase coffe with a card or wait, they buy every other time cash and every other time with card to appear normal...


 
256  Bitcoin / Bitcoin Discussion / Re: Separating Bitcoin's Legitimate Business's on: February 25, 2012, 11:36:03 AM
Should not things like this be possible thanks to the blockchain, if the business is open with what adresses it uses.
It does not have to reveal who of for what the adresses are used?

And making fake claims is not even possible, because you would have to prove that you did a certain transaction and proving
that is possible since a user can prove they own a sending adress by moving coins in and out of it.


Now with Bip 16 this business could create mirror adresses, owning only half of the acess to that adress.
The other half could be spread out to different persons.
 
The other key could be spread out to different persons.
Is there not also things like this that OT can solve?
257  Bitcoin / Bitcoin Discussion / Re: The fact people worry about the 51% attack makes it a non-issue. on: February 25, 2012, 11:12:39 AM
Isnt there restore points saved? So a restore of the network to before the attack is possible?

Making such an attack somewhat meaningless?
You will temporarily crash the market, but when its restored people will get even stronger confidence?



258  Bitcoin / Bitcoin Discussion / Re: Another respected cryptographer predicts collapse in bitcoin mining on: February 23, 2012, 08:21:26 PM
This guy is wrong on everything.

Here is another one...Incentive.
You control a huge botnet and mine a million Bitcoins for free.

What is the most likely thing to do?

A. Crash the Bitcoin market..Because?

Or B.

B. Hold them and become a Billionaire?

Ofcourse you might get hired to do this...
But if thats the case, make sure they pay you well.

He also assumes that the Botnet will get enough Bitcoins each day to be able to drive the price down.
If the Botnet gets 1000 coins, that might not have any effect at all unless he hold them for 100 days.
But if he holds them for 100 days, the price can rise while he hold them and as the price gets lower it becomes easier to buy them.

There are more.
There is this javascript mining program which can mine on peoples computers while they are looking at a webpage.
What if a few large newspapers or even games started to use this as a kind of payment for reading the news for free...
 







259  Economy / Services / Re: Need for artwork for Bitcardz on: February 22, 2012, 09:48:02 PM
Has this been done?

Should the logo be included?

What will you pay?
260  Bitcoin / Bitcoin Discussion / Re: How to Turn Bitcoin Into the Top Payment Network and the Currency of the Future on: February 21, 2012, 08:35:23 PM
You should need to enter the amount. The amount should be in the QR code and I think its a suggested bip for the URI.
Or maybe its allready here in some clients.

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