The idea that an exchange needs to handle your money in the first place is what I'm effectively questioning.
+1 Yes, centralized exchanges are vulnerable to attack and anything that can be done to reduce this centralization would be great. Interested to see what you come up with. |
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there you go Trader Steve: http://bitcoin-otc.com/viewgpg.php?nick=casascius... and in bash: $ gpg --import /path/to/casascius/key $ gpg --verify <hit 'enter' key> <now paste in entire signed message content, and then hit 'enter' key again> <ctrl + d> the digital signature should be verified now. Can't figure out how to do this on a Mac using gpgtools... |
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there you go Trader Steve: http://bitcoin-otc.com/viewgpg.php?nick=casascius... and in bash: $ gpg --import /path/to/casascius/key $ gpg --verify <hit 'enter' key> <now paste in entire signed message content, and then hit 'enter' key again> <ctrl + d> the digital signature should be verified now. Thanks! |
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Dumb noob question: How do I verify your signature? I believe I need your Public Key, correct? Where may I find it?
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This thread cracks me up. Wasn't bitcoin created as an alternative to banks? I think Satoshi is beating his head against a wall right about now. Instead of trying to figure out how to use bitcoin with banks, figure out how to use bitcoin without banks. My two bit-cents.  |
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Yes, local transactions are always better and they remove a lot of the risk. I started the following thread to help address this issue and also the issue of relying on bank-based exchange services: How and Why You Should Set Up Your Own P2P Bitcoin Currency Exchangehttps://bitcointalk.org/index.php?topic=83565.0This discussion gave birth to http://localbitcoins.com and http://tradeyourbitcoin.comThey key take-away is to develop your personal, trusted network of trading partners so that you can assure yourself a reliable market of buyers and sellers without having to use the banking system. I've taken this one step further and have closed all of my bank accounts. I use bitcoin (and prepaid visa gift cards if I have no other choice) for distance transactions and cash (bitcoin, FRN's) for local transactions. I love not having to deal with those blood-sucking banks and PayPal. Plus, they can no longer fractionalize (inflate) the money that I had on deposit since I have removed it from their system. Rant Alert: If you're tired of being ripped off by bankster bailouts, thrown in to endless wars financed by inflation and debt, and stolen from in the form of taxation - stop using banks! |
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We need more stable/legal exchange.
No, we don't. We need other ppl use Bitcoin as a medium of exchange for goods, not for other currencies. +1 although any increase in usage is good. |
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I love how simple it is to support people like this with bitcoin. 2 seconds - done!
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From EconomicPolicyJournal - http://tinyurl.com/cyx8dl6: Which Countries Are Most at Risk from Internet Disconnection Syria recently shut-off access to the internet in its country. This was fairly easy to do because only two firms provided internet service in the country. James Cowie of renesys writes: The key to the Internet's survival is the Internet's decentralization — and it's not uniform across the world. In some countries, international access to data and telecommunications services is heavily regulated. There may be only one or two companies who hold official licenses to carry voice and Internet traffic to and from the outside world, and they are required by law to mediate access for everyone else. Under those circumstances, it's almost trivial for a government to issue an order that would take down the Internet.... With good reason, most countries have gradually moved towards more diversity in their Internet infrastructure over the last decade. Sometimes that happens all by itself, as a side effect of economic growth and market forces, as many different companies move into the market and compete to provide the cheapest international Internet access to the citizenry...Here's a map of the world, with countries colored according to the Internet diversity at the international frontier. We did a census, from our own view of the global Internet routing table, of all the domestic providers in each country who have direct connections (visible in routing) to foreign providers.  |
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So who is sending micro-payments to the address? Are these clues from Mike?
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Who is Shakespeare?
LOL! +1 You beat me to the comment! |
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It's entirely plausible to expect Internet access in a certain geographic region to be unavailable for days, possibly weeks, in the event of temporary anarchy. Everyone here understands how regulation and economic forces can devastate a society, sending it back significantly in terms of technology and standard of living.
I think the best way to deal with this is to have a small amount invested in physical precious metals, like one ounce gold and silver rounds. These are more readily spent if there's no electricity and the local currency collapses.
Agreed regarding precious metals. By the end of 2013, basic meshnet infrastructure will have been rolled out. Exclusive reliance upon it will result in slow transmission speeds, but so long as there is power, there will be Internet access. Sometime in 2014-15, an even more resilient network should be gaining traction and capable of providing more robust services. That sounds great. How does one get involved and help move this along? |
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It's entirely plausible to expect Internet access in a certain geographic region to be unavailable for days, possibly weeks, in the event of temporary anarchy. Everyone here understands how regulation and economic forces can devastate a society, sending it back significantly in terms of technology and standard of living.
I think the best way to deal with this is to have a small amount invested in physical precious metals, like one ounce gold and silver rounds. These are more readily spent if there's no electricity and the local currency collapses.
Yes, and for those having the resources, perhaps investing in a backup of sorts (sattelite connection / ham radio connection) and solar panels / wind mills, could be an idea? Agreed. You would possess valuable assets that, in turn, make you valuable to your local community. This is one more asset/service you can offer in trade to help sustain yourself. |
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I know there's been some discussion on this at various sources but what are the latest strategies to prepare for, and deal with this type of scenario? Specifically, what are the specific actions that one can take so he can continue to transact with bitcoin?
Before this can be answered, you need to define the question properly. "How do we deal with an internet blackout?" How would you define 'dealing' in this context, and what do you define as 'internet' and more specifically, what do you define as 'an internet blackout'. We need precise questions to be able to answer them, or else we need to make assumptions that may be quite different from what you originally had in mind. The reason you should define it more clearly is that 'The Internet' itself is designed especially for the purpose of never 'blacking out'. Redundant routes is what ensures this, and even if a country has shut down their internet, access could be possible through satellite. And in a situation where a mesh net is used, the state could have special police with equipment searching for and punishing participants in such a network. Yes, you highlight the difficulty of the question. There are multiple attack vectors and, I assume, multiple methods of countering each of them. I do not know all of those attack vectors and I know much less about how to deal with each of them. Perhaps others on this thread can post the most likely threats and their suggested countermeasures. Some good ideas have already been offered. I also recognize that "the State" is not as "all powerful" as some people make them out to be but, nonetheless, they must still be respected and not under-estimated. The question "what if the internet is blocked?" is a common objection to bitcoin's usefulness and my purpose of this thread is to help us understand/prepare for such a potential "Mad Max" event and, additionally, be better prepared to answer this important objection from bitcoin critics. |
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The only thing you can't do without the internet locally is spend your coins. You can receive them, you don't need to worry about the blockchain, you just can't spend them. For that you need someone who does have access to the network in order to send the transaction.
I could envision a service that would allow incoming telephone calls where users could just tell their public and private key in order to make a transaction.
Interesting. I could see the potential for that. The receiver of the payment would have to receive confirmation of the transaction - by calling the same service I presume. Both parties would therefore have to trust this service and the service would become a target. It would need some type of self-defense protocols. I could also see physical bitcoins (ala Casascius Coins) trading at a premium provided that they are issued by a trusted issuer. They would already have to be in circulation though in order to make much of a difference. It appears to me that this type of scenario (internet blackout) would force most people into barter situations where physical goods, gold, silver and Casascius Coins would be the predominant medium of exchange until internet access was restored. |
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I know da2ce spoke about some "sneaker net" type solutions using freenet but I think that project has died due to lack of interest. (see http://agoristradio.com/?p=347 ) With certain parts of the world currently dealing with internet blackouts it would be great to develop multiple strategies for broadcasting transactions. I know there is also the "bitcoincard" project which is interesting as well. Here is another way of posing this question: What if the "internet" is shut down in your country tomorrow - what would you do with your bitcoin? |
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