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1141  Bitcoin / Bitcoin Discussion / Re: Here comes the interesting part on: April 12, 2013, 11:40:57 AM
In a normal stock market, if it crashes hard like bitcoin is doing now, then FED must step up and print a lot of money to support the exchange price of major banks. But for bitcoin, the only support is its limited supply. I believe, this single support is powerful enough to achieve the things that FED can not do, let's see how this will play out  Wink

There was a huge inflow of funds over the past few weeks due to the speculative run ... nobody was losing money and the value of their holdings increased nearly each day. 

But that's partly because there are no decent methods to short bitcoin.  If there were methods to short, then on the way back down there would be short covering. 

The reason there's no decent methods to short bitcoins is because that would require a lot of pioneering in the legal arena to seek regulators approval to trade bitcoins as a commodity.   So the methods that exist are like icbit.se, which operate pseudonymously.

But the point was, it isn't just the FED that is needed.  If we were to transact freely, there would exist options markets, futures contract trading, lenders, etc. all of whom, in concert, would help lessen the volatility that Bitcoin sees today.
1142  Bitcoin / Press / Re: NEW articles in Press Forum on: April 12, 2013, 11:03:11 AM
2011-04-11 AmericanBanker.com - Bitcoin and the Rebirth of Financial Safe Havens

https://bitcointalk.org/index.php?topic=174567.0
1143  Bitcoin / Press / 2011-04-11 AmericanBanker.com - Bitcoin and the Rebirth of Financial Safe Havens on: April 12, 2013, 11:02:13 AM
Bitcoin and the Rebirth of Financial Safe Havens
by Jon Matonis


Quote
'Private individuals should have more privacy [than politicians would be afforded], as they have not placed themselves into the political arena. They have not agreed to give up their privacy,' [says Attorney Jenice Malecki]. However, she also concedes that when it comes to offshore numbered accounts, 'it does seem that banking secrecy is eroding. Slowly, but surely, banks are releasing information for governmental investigations.'
[...]
Decentralized cryptocurrencies such as bitcoin arrived on the scene in early 2009 and now provide an outlet for personal wealth that is beyond restriction and confiscation. The exchange rate for government fiat currencies may be volatile now, but as the market price eventually finds equilibrium and stabilizes, bitcoin will become an important store of value.
[...]
Think of bitcoin as your own personal financial safe haven or offshore bank.
[...]
Future regulatory and confiscatory attacks on safe havens and banking secrecy will become irrelevant, because bitcoin provides for a personal 'offshore center' under direct and sole control of the individual.
[...]
Legitimacy is a politically charged term. One person's legitimacy may be another person's aggressive and unjustifiable overreach. Also, what a certain government sees as legitimate may be viewed in other parts of the world as a violation of fundamental human rights. This is clearest in authoritarian regimes that impoverish and imprison their political opponents for so-called crimes against the state.

 - http://www.americanbanker.com/bankthink/bitcoin-and-the-rebirth-of-financial-safe-havens-1058216-1.html
1144  Bitcoin / Press / Re: NEW articles in Press Forum on: April 12, 2013, 09:53:02 AM
2013-04-12 Falkvinge.net - What We Learn From This Bitcoin Correction

https://bitcointalk.org/index.php?topic=174514.0
1145  Bitcoin / Press / 2013-04-12 Falkvinge.net - What We Learn From This Bitcoin Correction on: April 12, 2013, 09:52:30 AM
What We Learn From This Bitcoin Correction
by Rick Falkvinge

Quote
An exchange [Mt. Gox] that has a ten-minute lag in trading orders at best, and is completely unreachable at worst, can barely be taken seriously as a hobby project – and certainly not as the main hub of a next-generation billion-dollar trading system. MtGox shutting down trading mid-correction was just the icing on the cake that confirmed this.
[...]
his was not the second peak, but something like the fourth or fifth similar event. We can be certain it is not the last.
[...]
Most importantly, failure or success of short-term speculation is irrelevant to bitcoin’s eventual success as a decentralized, resilient currency.
[...]
The good news, as said, is that we may expect a lot of [the exchanges] to be fixed by the next time this happens. Maybe in the spring of 2015, maybe sooner, maybe later.

 - http://falkvinge.net/2013/04/12/what-we-learn-from-this-bitcoin-correction/
1146  Bitcoin / Technical Support / Re: Where can I download the latest blockchain? on: April 12, 2013, 07:51:25 AM
I had to reinstall Bitcoin-Qt now I'm having to do the whole sync thing that could take days...

Benchmarked on beefy hardware and with a big pipe initial sync ranges from one hour to five hours.

Those who don't have beefy hardware and want faster startup will mostly be better served with an SPV client.
1147  Bitcoin / Technical Support / Re: Encrypt private key on paper wallet using bitaddress.org on: April 12, 2013, 07:47:43 AM
Current version is based on v2.2,

Current version hosted on BitAddress is v2.4.
 - https://www.bitaddress.org/bitaddress.org-v2.4-SHA1-xxxxx

If GitHub has a version tagged for v2.5 that might mean release is imminent.  Does v2.5 have encrypted wallets?
1148  Bitcoin / Bitcoin Discussion / Re: How do I attempt a double spend? on: April 12, 2013, 06:57:32 AM
You need to do it with raw transactions.  If you use the satoshi client then you can use it; or you can use http://brainwallet.org/#tx if you want.

That may not even be necessary.

If the original transaction didn't get relayed very well because it was below 0.01 BTC and no fee then a node running Bitcoin-Qt wouldn't know about the original transaction and thus wouldn't have a problem creating a spend transaction.  So simply importing one of the private keys used in that transaction to Bitcoin-Qt and spending it (with a fee) might be all that is needed.

But seeing your suggestion to use Brainwallet.org ... that is probably an even better idea than trying to get a Bitcoin-Qt set up just for this one transaction.
1149  Bitcoin / Technical Support / Re: Addresses are missing, cannot create new address in Bitcoin wallet on: April 12, 2013, 06:33:01 AM
I'm not sure what's going on, but when I go to my bitcoin wallet's address book, my addresses are missing, and I cannot create a new one either. When I try to create a new one, it's prompting me for an address as well as a name for the address. Previously, the address field was grayed out and it would generate that on its own. My balance and transactions are valid, so it's not as if the whole program is not working, just the address book. Probably completely missing something here. Any ideas?

I can't even tell for sure what client you are on from your description.  Are you talking Bitcoin-Qt client?  Or some other client?
1150  Economy / Services / Re: Travel Hacking Services: Cheap Flights, Cars, Hotels on: April 12, 2013, 06:25:31 AM
This arrangement is ideal for people who like to bend the rules without breaking the law

Does that mean something like buying two one-way trips with a layover in the desired destination but then not continuing on the last leg of each trip?

I don't have any immediate travel needs so I won't waste your time with a request, but if you have any recent trips like to a commonly requested destination where you've already done the research and could share that here I think it would be interesting.  I'ld like to see how that compares to what I'ld find if I were to try to do that search myself.
1151  Bitcoin / Bitcoin Discussion / Re: What are you guys down about? The future of Bitcoin never looked so bright! on: April 12, 2013, 02:25:53 AM
You can think what you want, but this is IMO the point of no return. 

I'll agree there.  Still having roughly a $1 billion total dollar valuation (TDV) after "the crash" says something. 

Even with many merchants essentially having been frozen, unable to determine price, the number of transactions occurring for the day barely dipped. 

And BitPay never stopped processing transactions, just that the exchange rate varied wildly minute to minute:
 - https://bitpay.com/bitcoin-exchange-rates

And every day there are more merchants coming onboard.

I just read about BitFetch, which pulls torrent files for you so you can download them without a torrent client (after paying BitFetch to grab the file for you).  Services like that would not exist without Bitcoin.  Those businesses alone are enough to justify a $1 billion total dollar valuation (TDV) for all bitcoins.
1152  Bitcoin / Technical Support / Re: Tech help needed with Instawallet claim process on: April 12, 2013, 01:22:12 AM
The wallet that sent funds to the Instawallet is a Blockchain wallet.

I have no clue how to do this. Can anyone please advise?

Sign in to Blockchain.info/wallet

 - Receive Money tab
 
Locate address for transaction that funded one of your deposits to Instawallet

Click on Actions pull-down tab.

Click Sign message.

For the message, you can do anything you want  (e.g., "The Instawallet at http://instawallet.org/xxxxxxxxxxx is mine." )
and then on the claim form give
1.) Your bitcoin address used to sign the message (and used to fund the Instawallet)
2.) that message (e.g., in quotes above)
3.) the signed message
1153  Economy / Marketplace / Re: Is preev broken? on: April 11, 2013, 09:54:33 PM
Is preev broken? I know the prices are going crazy, but there's like a $50 difference right now.

At the bottom it shows:
Quote
  Data temporarily from Bitstamp (while trading at Mt Gox is paused).
1154  Economy / Economics / Re: Why did GOX go from $120 to $124? on: April 11, 2013, 09:05:17 PM
What is happening here? They're closed... Is this just fulfilling the last orders?

For a total of like 2 BTC.  Someone in #mtgox on IRC was wondering why when a Dwolla transfer finally got credited that those funds were used to buy 2 BTC immediately.

So these two might be related. 
1155  Bitcoin / Press / Re: 2013-04-11 CBC The Current: Bitcoins: Bubble or Bank (22min radio segment) on: April 11, 2013, 08:45:55 PM
For those not familiar with CBC, it's Canada's public broadcasting corporation with nationwide coverage.

"The Current" is the primetime country-wide morning radio show on CBC-1.

Yup, ... the media is pulling out all the stops.

"Russian oligarchs are buying weapons with bitcoins.  It's a very dangerous currency for people to be involved with."
1156  Bitcoin / Press / Re: NEW articles in Press Forum on: April 11, 2013, 08:25:09 PM
2013-04-11 Dealbook.NYTimes.com - As Big Investors Emerge, Bitcoin Gets Ready fo

https://bitcointalk.org/index.php?topic=173772.0
1157  Bitcoin / Press / 2013-04-11 Dealbook.NYTimes.com - As Big Investors Emerge, Bitcoin Gets Ready fo on: April 11, 2013, 08:23:04 PM
As Big Investors Emerge, Bitcoin Gets Ready for its Close-Up
by NATHANIEL POPPER AND PETER LATTMAN

Quote
Cameron and Tyler Winklevoss have been many things in a short time: Olympic rowers. Nemeses of Mark Zuckerberg. Characters on “The Simpsons.” Now they can add a new label: bitcoin moguls.
[...]
The Winklevii — as they are popularly known — say they own nearly 1 percent of that, or some $11 million.
[...]
Now mainstream investments in the digital money are starting to emerge. On Thursday, a group of venture capitalists, including Andreessen Horowitz, announced that they were funding a bitcoin-related company, OpenCoin.
[...]
But the 6-foot-5 Winklevii were unfazed by the latest tumult. Indeed, the brothers said they used the low prices to buy more. They argue that bitcoin will have much further to soar once a broader audience sees its virtues: a unit of exchange that can be moved around the world at the click of a button without requiring any payments to Western Union or American Express.

“People say it’s a Ponzi scheme, it’s a bubble,” said Cameron Winklevoss. “People really don’t want to take it seriously. At some point that narrative will shift to ‘virtual currencies are here to stay.’ We’re in the early days.”
[...]
For their part, the Winklevoss twins have used some of their bitcoin to pay for the services of a Ukrainian computer programmer who has worked on the site of their venture capital firm.
[...]
In addition to the purchase of bitcoins, they also say they have invested in a bitcoin-related company, but declined to disclose which one.
[...]
“It has been four years and it has yet to be discredited as a viable alternative to fiat currency,” said Tyler Winklevoss. “We could be totally wrong, but we are curious to see this play out a lot more.”

 - http://dealbook.nytimes.com/2013/04/11/as-big-investors-emerge-bitcoin-gets-ready-for-its-close-up/
1158  Bitcoin / Bitcoin Discussion / Re: How do I attempt a double spend? on: April 10, 2013, 10:21:09 PM
... umm for science  Wink


But in all seriousness, I attempted to send some trivial amount (.1 mBTC) without a fee from the Android wallet app and the transaction has been hanging in limbo for the better part of a week, leaving a few bitcents that I can't use. My understanding is that the only way to use those coins is to a) wait an indeterminate amount of time until that transaction gets accepted or b) double spend that "chunk" to myself with a fee to get it into the block chain in short order.

From the Bitcoin Android wallet app?  or from Blockchain.info for Android?   or something else?

That's a long time for a transaction to hang out there without getting a confirmation.  The original sender must be re-broadcasting it periodically (which is what the client is supposed to do).  

But because it has an output below 0.01 BTC and it has no fee, not all nodes are relaying it.  So you still might be able to spew out a double spend that would get relayed.

So if you have the private key for the address from one of the inputs for that send transaction you can import that address into the Bitcoin-Qt client, or Multibit, or Electrum, etc. and try to spend from one of those.  You'll have the same problem if the amount is below 0.01 BTC  and you don't pay a fee though so make sure to pay the freight.

[Update: Just remember though, with Bitcoin-Qt if that is a failed double spend attempt there's no way to delete the offending transaction from the wallet (without using the third party tool, pywallet, to perform wallet surgery).  So don't do this with your normal wallet.dat for Bitcoin-Qt, or at least make a backup right before so you can restore the old one if the double spend attempt never confirms.]
1159  Bitcoin / Bitcoin Discussion / Re: Can i get my bitcoins back? on: April 10, 2013, 09:50:45 PM
Can you give me some names of the bitcoin wallet services that got hacked in 2011

Maybe in this list?

List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses
 - http://bitcointalk.org/index.php?topic=83794.0

There was really only one "E-Wallet" that saw losses, MyBitcoin.  There were a couple of exchanges in which accountholders had losses, like Bitcoin7, and some services ... like Mooncoin, but E-Wallet services MyBitcoin was the biggie.   And that's long long gone.
1160  Economy / Trading Discussion / Re: Mt.Gox to US bank - avr time on: April 10, 2013, 04:08:29 PM
Follow up to question below.

Your question will vary based on a few factors including how much you are transferring, is your account verified, what day of the week is it, what hour of the day is it, the size of the payout queue, the size of the support queue if there is a problem, the color of "the developer"'s socks, and more.

If you are asking for International wire, that will always be at best about a half day because of the difference in time zones.

For the transfer from Mt. Gox to Dwolla, that can range from very quick (hour to several hours range).     Once they do the send though the Dwolla transaction (an account-to-account A2A transaction) is instant.   

Then your withdrawal from Dwolla is about two business days, assuming you've already linked a bank account to your Dwolla account.  They may do a hold if they decide to require your identity (upload a photo of your driver's license).
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