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Economy / Economics / Re: Can bitcoin survive?
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on: August 06, 2012, 03:50:28 PM
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It should be also be noted, quoting from DeathandTaxes from the Bitcoin Stackexchange, Bitcoin is digital cash. Many people today chose not to use cash for online and offline transactions favoring instead indirect payment methods (check, debit card, credit card, gift card, etc). It is probable that higher level payments systems built on top of bitcoin network will emerge. Users of these systems should cause significantly lower transaction volume. For an example lets look at how VISA transactions work. An individual may have 200 VISA transactions in a month but only makes a single payment to the card issuer (a 200:1 multiplier between purchases and actual currency movement). Likewise a company may have a thousands of VISA transactions in a day but recives that as a single currency payment (usually ACH). http://bitcoin.stackexchange.com/questions/1708/capabilities-of-bitcoins-and-their-place-in-the-futureMost people are not going to use digital cash for purchases such as ebay or online shopping. They want risk and fraud prevention that someone like a Paypal can offer. If bitcoin is the digital cash of the future, transactions via a system like Paypal would GREATLY limit the amount of transactions, as they likely wouldn't use the blockchain for internal purchases.
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24
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Bitcoin / Bitcoin Discussion / Re: 2 Million unspent pristine bitcoins
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on: August 05, 2012, 06:30:18 PM
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Satoshi's a patient guy.
Satoshi's dead. There is no other explanation. Why else would he disappear so suddenly, and without saying fair well to the community. It was a sudden death like being hit by a bus, or drowning, or a heart attack. If it was cancer or something that takes its time, he would have told us, and he would have transferred his coin to a successor. RIP Satoshi Nakamoto ?? - 2011 There is no way Satoshi was ever just one guy. The scope, complexity and depth of the bitcoin design and implementation goes way beyond anything a single person could have pulled off. According to Gavin, the primitive code was not neat or professionally put together, it just work, and it was obvious that Satoshi was no coder. Past him inventing the initial code, it was taken over by the current developers and I don't see why it's hard to believe one guy had the initial idea and implementation. Satoshi likely left in fear of someone finding his identity. People seem to be able to locate his likely origin country by his vocabulary and how he types, though I can't remember which country it is believed to be. To my knowledge he didn't just vanish, he was in private conversations with Gavin. Once he was confident in Gavin taking over the development side of the project, and considering Gavin and/or others were likely better with the code anyway, there wasn't much left for Satoshi to do besides disappear into the background and watch his baby grow.
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28
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Economy / Web Wallets / Re: Blockchain.info - Bitcoin Block explorer & Currency Statistics
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on: August 01, 2012, 05:45:21 PM
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Problems with the Android app. Tried to send roughly half of an addresses balance, but was told after I scanned my paper wallet that I had insufficient funds. Tried to send a quarter of the total instead and it worked fine. Tried to send another transaction the same size, and again, insufficient funds. I had to break that transaction again into two pieces. At the end I was able to send the amount I wanted, but it took multiple transactions, and the app seemed to have problems reading how much my address had.
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29
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Economy / Web Wallets / Re: Blockchain.info - Bitcoin Block explorer & Currency Statistics
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on: April 17, 2012, 02:34:26 PM
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One request if it hasn't already been asked, I'd love to have my own addresses listed in my address book by default, or some similar method of having them easily accessible on the send page. Sending bitcoins between your own addresses can be a little more difficult than it should be right now.
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30
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Economy / Services / Re: Safe Cold Storage?
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on: April 17, 2012, 02:02:09 PM
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If you're going to use a safety deposit box, why not just use secure paper? Then you don't even have to worry about hardware malfunction. I doubt I could even fit a laptop into the small size safety deposit boxes in my bank.
If you use a laptop, no need to download the block chain. Install bitcoin, find your receiving address and send away from your other wallet immediately. Check blockexplorer or blockchain.info for transaction verification. As long as you see it sent to your offline address on one of those sites, you're good to go. Obviously you won't see the amount on the offline computer because the block chain isn't downloaded but no need to see the transaction on the offline pc, as long as you have the wallet saved.
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33
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Economy / Services / Re: Safe Cold Storage?
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on: April 15, 2012, 02:11:42 PM
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You're phrase is probably too short, that's why it won't convert it. Enter a longer phrase and it should then convert.
Edit: Seems you fixed it.
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35
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Economy / Services / Re: Safe Cold Storage?
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on: April 14, 2012, 01:59:30 PM
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Paper wallets are probably safest and easiest, as there's never a wallet created for a hacker or bot to attack. If you want your own "vault", buy a cheap netbook that you plan on keeping entirely offline and generate a wallet on there, then back it up elsewhere offline for copies, preferably encrypted at that point.
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36
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Economy / Speculation / Re: Did you talk about bitcoin at the Xmas party?
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on: December 26, 2011, 02:59:41 PM
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I actually didn't bring it up, my brother-in-law asked how the bitcoin mining was going. I was happily surprised at how much he already understood about it, and since we only talk once or twice a year I knew he did some research.
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