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1081  Bitcoin / Press / Re: NEW articles in Press Forum on: April 03, 2013, 05:21:04 AM
2013-04-02 New Yorker, The Future of Bitcoin: The Bitcoin Boom
https://bitcointalk.org/index.php?topic=164977.0
1082  Other / Beginners & Help / Re: Need some recommendations for a UK resident on: April 02, 2013, 07:32:54 PM
Can someone recommend a good site / exchange that I can use bank transfers from the UK to that is low rate and trustworthy please ?

Bitbargain.co.uk has a few methods:
 - https://bitbargain.co.uk

Bitcoin Fridge re-opens on April 6th:
 - http://www.BitcoinFridge.co.uk

But since UK banks don't like Bitcoin, you should not like UK banks.  Convert your GBPs to EURs through Transferwise or CurrencyFair and then fund your exchange account that way:

Which exchanges allow me to transfer funds from my TransferWise account?
 - http://bitcoin.stackexchange.com/questions/8149
 - http://www.reddit.com/r/BitcoinUK/comments/1b8rug

And then:

1083  Bitcoin / Project Development / Re: Bitcoin + Vending Machines Proposal on: April 02, 2013, 07:23:49 PM
what about the time it takes to confirm bitcoin transactions for something like a vending machine?

Just make sure it is uneconomic to attack.

The Finney attack is nearly 100% successful but it costs $4 per second to pull off.  So for anything sold worth more than $20, make sure to delay it a few seconds. 

A race attack isn't guaranteed to succeed (maybe one out of 40 attempts would succeed), but it is cheap to attempt.  But if I end up with 39 frozen burritos just to get the 40th one to spit out "for free", I'm not going to try.

Now let's say there is a change machine that converts bitcoins to quarters at a laundromat, with no fee.  An attacker could sit there all day and profit from the successful attempts and break even on all the unsuccessful attempts.  So that's not a good candidate for 0/unconfirmed transactions.
1084  Other / Beginners & Help / Re: Circulated or Hoarded? on: April 02, 2013, 07:07:04 PM
Do you think BitCoins are being spent or are the vast majority of them being hoarded?

Neither.  Most are purchased and saved.   They are being saved to pay for future consumption.   Or as a simply speculative buy.

That is not hoarding.  

That also isn't necessarily a problem.

If bitcoins were not divisible, and there were only 11 million that could exist, then you'ld have a problem.

But instead of paying 1.0 BTC for a quick meal I now pay 0.1 BTC for it, the higher valuation doesn't limit me from being able to use them for my spending.

Because I can acquire more coins easily (with a bank transfer, sent to an exchange, for the cost of $0.25 per transaction using Dwolla, then 0.6% at my exchange) I'm not worried about using my coins for my spending.

But volatility is not good for a currency, so where a problem is introduced is when the exchange rate stops rising and those speculating on bitcoins start to dump.  Each sell puts downward pressure on the exchange rate which incents others to sell.

So that's why bitcoins need to circulate as part of commerce using the coins as a currency rather than just seeing Bitcoin used as a trading vehicle for speculators.
1085  Bitcoin / Bitcoin Discussion / Re: Allison, can you explain what a bitcoin is? on: April 02, 2013, 06:55:58 PM
Here's the Bitcoin equivalent:

 - http://video.cnbc.com/gallery/?play=1&video=3000158264

 - http://www.reddit.com/r/Bitcoin/comments/1biptm
1086  Other / Beginners & Help / Re: Amount of confirmations needed---changed? on: April 02, 2013, 05:46:20 PM
where did the original 6 confirmations needed come from anyway?!
is it just an arbitrary number?

From the wiki:

Quote
Merchants and exchanges who accept bitcoins as payment can set their own threshold as to how many confirmations are required until funds can be considered valid. When potential loss due to double spending as nominal, as with very inexpensive or non-fungible items, payments can be considered confirmed as soon as it is seen on the network.
- http://en.bitcoin.it/wiki/Confirmation

A digital currency exchange that sends out non-reversible funds when there is no recourse (i.e., withdrawn by an anonymous user) should not be considering anything less than 6 confirmations, in my opinion.

Of course, those funds in their wallet are not theirs (as they are customer's funds), so they can  be careless without exposing themselves to the risk.
1087  Bitcoin / Press / Re: 2013-04-02 New Yorker, The Future of Bitcoin: The Bitcoin Boom on: April 02, 2013, 05:25:42 PM
Suprisingly good and well researched article.

+1

I learned something new from it too ...

Quote
The name Casascius came from the acronym for “call a spade a spade,” with a vaguely Latinized suffix.

Back when first trying to remember how to spell it I broke it apart thinking maybe it was Casa Sci US  (house of science, U.S.).  I was way off.
1088  Other / Beginners & Help / Re: California Bitcoin Group - BTC and Bitcoins for CA on: April 02, 2013, 04:47:20 PM
locally advertised!

locally? 

Which of the 163,707 square miles California encompasses do you consider local?
1089  Other / Beginners & Help / Re: How do we buy bitcoin in the UK now they removed pingit and UKBT on: April 02, 2013, 04:17:46 PM
please I really need to get more coin.

UK banks don't like Bitcoin.

So leave the GBP behind -- using Transferwise, or Currencyfair to get EUR.  Here's another thread on it:

Your best bet is to use www.transferwise.com to convert and move GBP to MTGOX SEPA EUR account, and trade in EUR.

I've seen where Mt. Gox only accepts bank transfers if it comes from your own account (and not a commercial account like Transferwise).  Are you able to perform this SEPA transfer method from Transferwise to Mt. Gox and they take it?    With SEPA transfer to BITSTAMP I've not read about anyone claiming the same restriction.

Which exchanges allow me to transfer funds from my TransferWise account?
 - http://bitcoin.stackexchange.com/questions/8149

1090  Other / Beginners & Help / Re: Bitcoin-QT not showing transaction on: April 02, 2013, 04:13:40 PM
It is showing on blockhain.info - so why oh why is it not on Bitcoin-QT?

Should I start using a different Bitcoin client? Any recommendations?

When a transaction gets broadcast, that transaction gets relayed to most every peer node.  If your client was not running at the time, it might not know of the transaction because it wasn't online when the broadcast happened.   Eventually the transaction will likely get included in a block and then your node will see it.  Or the original client that sent it can re-broadcast it.  If the sender was using the bitcoin-Qt/bitcoind client then that will notice the transaction is not yet in a block and eventually will re-broadcast it (generally within about a half hour).

So if it is showing on blockchain.info then just hang tight.   Leave your client running so it won't miss a re-broadcast if you want the warm-fuzzy from seeing the 0/unconfirmed transaction in your list of transactions.
1091  Economy / Trading Discussion / Re: Why are UK bitcoin buying options disappearing on: April 02, 2013, 04:06:39 PM
Back to the point though, why are exchanger UK accounts being shut down? Why is it so hard/expensive to get bitcoin in UK when it has a relatively higher adoption rate than some other countries?

I think it is safe to assume no banks in the UK will work with any Bitcoin exchanges.  Any agreements to do so have a half-life measured in weeks.
1092  Economy / Trading Discussion / Re: Why are UK bitcoin buying options disappearing on: April 02, 2013, 04:01:56 PM
Your best bet is to use www.transferwise.com to convert and move GBP to MTGOX SEPA EUR account, and trade in EUR.

I've seen where Mt. Gox only accepts bank transfers if it comes from your own account (and not a commercial account like Transferwise).  Are you able to perform this SEPA transfer method from Transferwise to Mt. Gox and they take it?    With SEPA transfer to BITSTAMP I've not read about anyone claiming the same restriction.

Which exchanges allow me to transfer funds from my TransferWise account?
 - http://bitcoin.stackexchange.com/questions/8149

Also, other methods include:

Bitbargain.co.uk has a few methods:
 - https://bitbargain.co.uk

Bitcoin Fridge re-opens on April 6th:
 - http://www.BitcoinFridge.co.uk
1093  Other / Beginners & Help / Re: What are private keys? on: April 02, 2013, 08:08:01 AM
Okay, can you give me an example of a transaction, break it down slowly >.<

Here's what the data for one looks like:

Code:
Input:
Previous tx: f5d8ee39a430901c91a5917b9f2dc19d6d1a0e9cea205b009ca73dd04470b9a6
Index: 0
scriptSig: 304502206e21798a42fae0e854281abd38bacd1aeed3ee3738d9e1446618c4571d10
90db022100e2ac980643b0b82c0e88ffdfec6b64e3e6ba35e7ba5fdd7d5d6cc8d25c6b241501

Output:
Value: 5000000000
scriptPubKey: OP_DUP OP_HASH160 404371705fa9bd789a2fcd52d2c580b65d35549d
OP_EQUALVERIFY OP_CHECKSIG

 - http://en.bitcoin.it/wiki/Transaction#Principle_example_of_a_Bitcoin_transaction_with_1_input_and_1_output_only

And here's what one looks like in a nice viewer:

 - http://blockchain.info/tx/74aa359a7f007ec120bb0fbbb747797e1ded08bdcffeddce4e5ede5b1a40be5a?show_adv=true
(at the bottom click Advanced to see the link to get to the UTXO for the INPUT transactions)
1094  Bitcoin / Technical Support / Re: bitcoin address algorithm on: April 02, 2013, 08:01:12 AM
I tried reverse engineering bitaddress.org, but their structure was a little too confusing for me.

Brain Wallet:

Private key = sha256(passphrase)
 - http://en.bitcoin.it/wiki/Brainwallet

Then this:

How can I convert a SHA256 hash into a Bitcoin base58 private key?
 - http://bitcoin.stackexchange.com/a/8249/153
1095  Bitcoin / Technical Support / Re: bitcoin address algorithm on: April 02, 2013, 07:35:07 AM
I'm hoping to write a small script to generate bitcoin addresses according to a deterministic algorithm and a password provided by the user.  This will serve as my "offline storage".

I know that I can generate a private key by using sha256 on anything.  My question is, how do I convert this key into an address?

I'm hoping it's a fairly simple formula.  If you could describe it in pseudocode, javascript, or bash, I would appreciate it.

Javascript private key generator:
 - http://brainwallet.org/#generator
1096  Other / Beginners & Help / Re: What are private keys? on: April 02, 2013, 06:49:17 AM
I just got bitcoin-qt client today, and all that show up are public keys that people can send money to me.

The Bitcoin-Qt client takes care of everything so that a user doesn't need to know what a private key even is.   The keys are stored in the wallet.dat.

If you do want to see them, you can export them:
 - http://computriks.com/en/bitcoin-export-private-key

Or if you just want to see what one looks like:
 - http://www.BitAddress.org
1097  Other / Beginners & Help / Re: What Web Wallet do you recommend? on: April 02, 2013, 06:36:13 AM
I have used flexcoin.com since 2011 and never had any issues with them; you also gain some "profit" a small % per year just like a savings account ( they share out the transaction fees proceeds)


Any guess what this was about then?

Flexcoin announced a security breach today,
1098  Bitcoin / Bitcoin Discussion / Re: "Online wallet services" are an invitation to fraud and theft on: April 02, 2013, 06:34:27 AM
Flexcoin announced a security breach today,

Source?
1099  Bitcoin / Legal / Re: I just got off the phone with FinCEN on: April 02, 2013, 05:49:03 AM
They are obviously just making things up as they go along

Or maybe they were asked to help form the chokepoint.  With a list of everyone who has control of hashing capacity (since mining pools and solo miners are the ones who control what transactions go in the blockchain), the next step is to force them to comply with "later guidance", such as KYC on each party submitting a transaction.  Like .. no more P2P, if you want a transaction through one of these "licensed" miners, you connect to them directly.   And then Bitcoin is toast.  Muahahahahaha!!!

I'm probably seeing more to it than exists, but this is one possible direction.
1100  Other / Beginners & Help / Re: wallet.dat appears to be corrupt - MAC OS 10.8.3 on: April 02, 2013, 04:50:29 AM
Ok - I did exactly as you told me and this is the message I'm getting now:

Hmm ... I doubt your backup is corrupted too.  I'm not sure BDB wouldn't open it.  Maybe it is seeing the database/log files and trying to recover anyway?

The "start from a clean slate" approach is to remove everything from the Bitcoin data directory and then restore just the wallet.dat from the backup.
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