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I use craigslist to sell things on occasion, and when I do I usually list that I'm willing to take up to $X of the cost in bitcoins.
No bites on the bitcoins yet.
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Yep. This reeks of scam, especially when its 3.21 oz. and the "buy now" price is less than 1 oz.
Plus, it's a bit disturbing that he has to use an image from Apmex's site, rather than a pic of his own bar.... |
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It would be more awesome if they offered escrow. I wouldn't put up serious money for it without that. |
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The ECDSA private key behind it all is 256 bits.
Yes, but since the end-result is a 160-bit address, there's a certain loss of information. IOW, multiple 256-bit private keys could map to any given 160-bit address, so really only (  ) 2^160 bits worth of work needs to be done to crack any given address. The bitcoin address is basically a 160-bit hash, yes, but you need the private key to actually spend the bitcoins. Not trying to be picky, I'm just wanting to know exactly how this works.... Would you need the original private key to spend the coins, or just any private key that ultimately hashes to the address? |
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Under the original post's scenario, that private key may be unknown to anyone. If anyone ever does generate that key pair (against astronomically incomprehensible odds), they mathematically and cryptographically "own" (because this is how the Bitcoin system is defined) any associated bitcoin value assigned to them by a transaction in the blockchain!
What exactly are those odds? Is there a reference somewhere? I was trying to explain the finer details of Bitcoin to someone with a solid mathematics background, and I was having trouble finding the odds. is it like 1 in 2^50, or 1 in 2^100? Thanks! IIRC, Bitcoin addresses rely on a hash called RIPEMD-160, giving 160-bit results, so the odds are about 1 in 2^160. The ECDSA private key behind it all is 256 bits. Yes, but since the end-result is a 160-bit address, there's a certain loss of information. IOW, multiple 256-bit private keys could map to any given 160-bit address, so really only ( ) 2^160 bits worth of work needs to be done to crack any given address. I'm not a cryptographer, but that's what I've read. Can anyone else confirm (or disprove) this? |
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When it comes time to fill out a tax return IRS rules say any items taken through trade and barter are to be assigned a fair market value and that amount should be reported. And of course they use the dollar sign $ throughout the form and the word "dollar" throughout the form, charts and regulations. And since they wrote the form we can assume they really did mean dollar when they said it. But what exactly is the legal definition of a "dollar"? If you visit https://online.kitco.com/products/3004/1_oz_Silver_American_Eagle.html you will see the $1 Silver Dollar. It says "dollar" right on it and is is minted by the US Mint which is authorized by the Congress and the US Constitution to produce our nation's coins and money. but if you look at the coin here https://online.kitco.com/bullion/completelist_USD.html you will see it has a list price of USD $ 30.94 ea. Wait a minute! They want 30.94 Dollars to buy ONE DOLLAR? Why would anyone give almost 31 dollars to get only one? That is crazy! Well, we all know what they mean. They want 30.94 FEDERAL RESERVE NOTES in exchange for One US Dollar. My point is that the legal tender laws did not make a Federal Reserve Note a dollar. The dollar was, and still is, a silver coin issued by the US Mint that contains the legal standard weight and purity of silver. Bear in mind the company that owns the website is merely a private company so what they call something has no authority when it comes to legal definitions. But when it comes to the IRS and tax documents we know they have to use legal terms and definitions. And since we need to determine the value of barter items in dollar value shouldn't we honestly say the value in dollars is the exchange rate in FRNs divided by 31? Congrats... you've discovered the whole thing is a fraud! Unfortunately, they don't care, and don't want to hear it, and will shove you into a jail cell without a second thought if you don't just give them what they want, whether it's legal or sensible or not. And the populace will cheer the tax collectors on. Welcome to the U.S.! /cynicism |
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How long are you planning on keeping the funds in cold storage? If it's for an extended period (several months or more) you might be better off using a paper wallet, since it'll avoid any chance of an electronic theft.
Electronic theft of an encrypted wallet is not a problem, as long as you keep your passphrase offline and safe. Well, I suppose that depends on how computer savvy and/or paranoid one is. |
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How long are you planning on keeping the funds in cold storage? If it's for an extended period (several months or more) you might be better off using a paper wallet, since it'll avoid any chance of an electronic theft. There are a number of ways, including bitaddress.org and the vanitygen vanity address generator, to get a large number of bitcoin keypairs (an address with the private key) that you can print out. You can do this on a computer that has never touched the internet to be sure it's secure.
If you take this route, here's a few suggestions to make it a little easier:
1) Test the process first so you feel comfortable. Send 0.01 BTC to a paper address, then the next day import the private key and send it back to your main wallet.
2) Next, don't send it all to one address. Keep the bulk of it in one or more addresses, but also keep small amounts in a few more addresses. This way, when you finally want to access the bulk of your funds, you have a few low-risk addresses you can import first to make sure everything goes smoothly.
3) Finally, keep multiple copies of the addresses, and keep them in at least two separate, secure places.
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Mathematicians overlook that computation is bounded by Physics. Computer Scientists lament it. Cryptographers depend on it. -- Nyhm
(Is it pretentious to quote my own proverbs? Is it tactless to jingle my proverbial tip jar?) 1NYhM2pzT6PDfZyXbyFm3dVcoob4phrGc5
Usually yes, but that one is ok. Yeah, it's good enough to refer to at some point.  |
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Under the original post's scenario, that private key may be unknown to anyone. If anyone ever does generate that key pair (against astronomically incomprehensible odds), they mathematically and cryptographically "own" (because this is how the Bitcoin system is defined) any associated bitcoin value assigned to them by a transaction in the blockchain!
What exactly are those odds? Is there a reference somewhere? I was trying to explain the finer details of Bitcoin to someone with a solid mathematics background, and I was having trouble finding the odds. is it like 1 in 2^50, or 1 in 2^100? Thanks! IIRC, Bitcoin addresses rely on a hash called RIPEMD-160, giving 160-bit results, so the odds are about 1 in 2^160. |
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Current number of bitcoins: 9.464M
Current bitcoin price: $7.68 USD
Current price of all bitcoins: ~$72.68M
I should have aimed for next year....
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Yes, you could buy stolen bitcoins from an exchange or elsewhere, but no, you're not going to lose them. Nobody can take your bitcoins away from you; the worst they can do is refuse to accept stolen or otherwise "tainted" bitcoins as payment, which is hideously impractical for a variety of reasons.
This keeps being said, but is misleading as it confuses how Bitcoin works. No one can know what kind of coins are going to be sent to an address before they're sent. And no one can reject or refuse to receive bitcoins sent to their address once the address is given. Should a merchant/exchange receive bitcoins that they trace back to a crime and don't want to deal with, they may return them. Or they might keep them (as "evidence" or whatever.) "Refusal" would really be doing either of those, and it's the latter that's the problem; if you're going to be bold enough to hold onto someone's money yet openly refuse them the service/product they paid you for, you should be bold enough to involve law enforcement or arbitration to get to the root of the problem as well. So to answer the OP; yes, if you send money to someone who is tracing the bitcoins, you might "lose" them if they trace back to a crime and the merchant/exchange is unscrupulous and keeps your money without involving the police. Such tracing isn't a widespread practice among merchants at the moment, but just as with U.S. dollars, if it happens that they decide to keep your money due to a claim that the funds are stolen, you should consider immediately involving police or arbitration to resolve the situation. |
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Just to be clear, which is it that you're certain is not a scam: that the vaccine is legitimate and works, that the push for mandatory immunization of schoolchildren with it is legitimate, or both? |
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The further ahead in time you evaluate, the more likely it is the dollar won't be around anymore (at least not in the same form.) Fiat currencies aren't exactly known for their longevity. How that will compare to Bitcoin remains to be seen, but while the prospects for the dollar continue to worsen, Bitcoin's prospects are looking brighter than ever.
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One with a hemp leaf would sell like hot cakes on the grasscity forum.
Unfortunately, I'm pretty sure the artist would never do a hemp leaf, no matter how much you offered. He could probably do a bitcoin logo fairly cheaply though. |
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Quick and easy question to save me some time trying..
Bitaddress.org can make an addy and a private key..
How would I go about making a wallet from bitaddress.org and importing it into spinner ?
obviously I have some ideas on this.. but would like to know the surefire way..
Thanks
Short answer:You can't. BitcoinSpinner's "wallet" isn't designed that way. The one key it gives is all you can have. |
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If were going to bring personal info into it, back in the day when i was a youngen, i would get my yearly flu shot, and still get the flu. The year i decided to tell the doctor to screw off, i have yet to have a flu since then. (13 years and counting)
This. For me, the rest of the vaccine debate isn't that important. Get it and protect yourself, don't and take the risks, *yawn.* But the annual flu shot has got to be the biggest medical scam the U.S. has seen in recent decades. |
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