ok, mtgox.com is accurate. too sad that these sites all fail at different times when it gets interesting

huh? is mtgoxlive too slow?? it still shows 27.77 to me.

While in an international forum using arab or chinese as something commonly known to be unknown is at least not wise, using sha256 on a bitcoin forum is none the wiser




Damn. First I thought I actually can hear a bell (it's 3am here) but then I thought, maybe he's not ringing a bell in joy but doing something else in joy. We will never know …

Well, if bitcoin survives, the Casascius coins will outperform the bitcoin, sure. But do you believe the 25Ƀ coin will be traded for millions on top of the millions in pure bitcoin value? I see somebody is trying to sell them already at 220% but find this rather bold given the fact that you never know if the coin went through the hands of somebody with good radio scanning equipment emptying the coin at any future point. Sure Casascius has to sell them above face value due to production costs but in this example people already try to sell this production costs for $300. Sorry that is a joke.

I like that you diffed it
We should put all such articles under version control automatically as changes are so revealing

Great article! How do I know if this will also make it to their paper version? I would buy a bunch of them

"Companies like Amazon are considering an introduction." … very interesting but I doubt that this journalist knows of something like that without me knowing it first =D

I can't edit my offer
In the list of active items I clicked edit next to my $36 that I sell for $0.1 and I get to the "Sell an item" tab but that tab is empty.
Next I tried to open the item and click edit there. This time it worked.
Next I tried that again when it failed again in the list and  now I can't get to the edit page anymore.
And now it works again … but I'm leaving this here as this happens quite often and should be fixed.

Do you read this thread you are posting in? I went into this in great detail further up.

I agree with you on one part:
In a Bitcoin economy where the buyer doesn't have to strip naked and proof he's trustworthy, the seller has to strip naked to get the trust needed to conduct business. That is much more efficient as you don't need a rating of all customers but only of the much fewer businesses. I like that. People vet the business and tell their results.

I don't agree that Charlie stole your money. I mean I don't like that he treated me and apparently you like a troll that's damaging his business rather than taking the issue serious within hours. That is not professional and yes, we both consider public communication of a services issue important of the vetting process which in turn Charlie seams to find unprofessional. He never was pro-active trying to settle my issues but in my case it was settled. He repaid me the full amount I had sent towards his business.

I see bitcoinwireless as a powerful tool to introduce friends to bitcoin and therefore it has a tremendous value that will not immediately nullified by some payment issues. I'm keeping an eye on this and as soon as it runs smooth, I will tell every Chilean with a prepaid phone about it but there's a long way to go unfortunately. The whole process would have to take no more than 5 minutes reliably and not charge some surprise fees.

@camolist and @molecular:
Maybe you can tell me why people put anything in Ƀ in the first place?? I am auctioning a lot of silver (see sig) and do all in € because I want people to bid and not wait until the last second out of fear their bid might just double in value over a week. The inverse applies, too: If I would sell my stuff for Ƀ, people would buy my silver if the Ƀ drops.

Still most auctions/sales are denominated in Ƀ. Is that only because it is default??

Great talk. Great balance of jokes and info and fiat and bitcoin.

Oh ok, so it's still at the proof of concept stage. Anyway, hope to see it deployed everywhere

Such a machine could even charge fees depending on its $$ stock.

Imagine the shop where it stands would only have to report issues and keep it plugged in. Supply with bills if running low and removal if running full could be done by its customers.

On a machine that is low on $1 and $20, high on $10 and $100 and ok on $5 and $50 bills. The fees could read:
3% for buying and selling bitcoins
Balancing my bill reserves
0% for buying with up to 20 $1 bills
0% for buying with up to 7 $20 bills
-1% for selling worth up to 7 $10 bills
-1% for selling worth up to 25 $100 bills

People could subscribe to take these special offers, basically doing the maintenance loosely organized for a small fee.

Down side would be that the machine would tell when it had a lot of money inside but the machine could also pretend to never hold more than $5000 in the supermarket or $500 outside at the corner. On the other side, if I can throw in $10000, take the bitcoins and take back the $$, too, this obscuring its balance would not help much.

The camera is the QR-Code scanner I guess. A camera costs 5€ or 15€ if you want to have a smoother user experience. The case should be about 100 times more expensive if you don't want to take losses from people even attempting to get out the bills.

Other question: Will this machine release $$ if I send it bitcoins? I guess we need something more general than green addresses for instant acceptance of bitcoins.

How about the following:
The machine network has a website where I can anonymously ask for a receiving address. (aka open a hosted wallet)
I may then charge this address with bitcoins (6 confirmations apply).
I may request to see all machines where I can cash out $x (limits apply based on my settings (maybe my kids should get their pocket money at these machines), the machines' settings (inside a bank the limit and therefore the expected minimum balance might be higher than at the corner) and the machines' $$ balances)
Via NFC my phone tells the machine some id
The machine asks to sign something with a certain key
My phone does so
Eventually asking me to unlock the key store with a password for that
The machine spits out $$

Advantage of the challenge response thing is that I don't have to type in credentials at that machine.
Disadvantage is that I need exactly the wallet at hands that was used to charge my BATM wallet.

This looks pretty damn serious. Where is it? How many are they? How secure is the money inside?

Edit: Does the screen on top show a video of how it works? Does it mention compatible clients (to get people going that have no clue)?

… fixed that for you

Yes, sure, but did he move 100% or really close to 100% of MtGox' money?

If the question is if they can show you a price (last trade) that is fake, i would say they can't without getting caught. People complain all the time about having had a buy order at 22 that did not get filled when the price briefly fell below 22 and to an extent an exchange can deal with such complaints and explain them with long trading queues etc. but in normal times if I offer to sell for 23 and the exchange tells people about prices around 27, I will not stay with that exchange for long. If you trade at the edge of the order book you expect to see immediate results that can't be faked without taking a loss.

The other thing with front running trades is a very obvious issue if you trade volumes that move the market.

The other issue of exchanges maybe doing fractional reserve is also a fun issue. Imagine Gox had some rough time and decided that they can pretend not to be broke by just using their customers' money. Lets say they use 10% of their customers' money (banks usually use 95 to 99.99%) they will be in deep shit if some day they have to show the money. That would be maybe 100k bitcoin that saved them paying bills of $100k in 2011 and in 2014 this $100k loan is worth $10M if the Bitcoin rises to $100.

As an information center advertising your services and bitcoin in general in the biggest 20 cities of the world this makes sense. Maybe if the bitcoin foundation runs an office, they place it in a big town city center just to give bitcoin a face.

To trade bitcoins, it doesn't. If there were a need for such a thing, all kind of existing shops could additionally buy bitcoins to get rid of the cash that only is hard to transport and dangerous to hold and banks could sell bitcoins at their ATMs.