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121  Local / Other languages/locations / Re: - Kenya/Africa Bitcoin portal on: March 22, 2014, 02:55:25 PM
hi weex,

I'm having trouble logging in.   I don't see an error message, but submit on the user login just reloads the page without authenticating me (says "Hello There, Guest!").   I've tried with both my e-mail address as username, and with a username as well.  Both behave the same way.
122  Bitcoin / Meetups / Bitcoin Kenya Meetup (Nairobi) on: March 06, 2014, 09:34:13 PM
The next Bitcoin Kenya meetup is Friday, March 7th - 5:30 pm to 7:30 pm.

Pete's Cafe and Burrito Haven
Ground Floor, Bishop Magua House, Ngong Rd., Nairobi
(Ground level of the building where iHub is located).

Special guest: Tomer Kantor (iamsatoshi), who will be filming the meetup, so don't be late.

Bitcoin startups in Kenya include:


and a number of merchants and charitable organizations now accept Bitcoin payments / donations:
Give Directly
The Water Project
Wageni Technologies

Kenya presents a unique opportunity for Bitcoin in that well over half the population is already comfortable storing value "on their phones" and using that value to transfer amounts small and large to peers, or for use in bill payment or even retail purchases.    Kenya is one of the few place where a measurable percent of the country's GDP passes through the mobile payments network -- and Kenya leads all other areas with about a third of the GDP's value traversing the M-PESA and Airtel mobile payment networks.   Though M-PESA serves the market relatively well today, its users continue to suffer from the payment network's availability and performance issues and the network's operator faces renewed regulatory and other external pressures such that a gap for Bitcoin to fill exists now.

Here's an example -- Airtel mobile money woes.
123  Economy / Service Discussion / Re: what the hell are crypto stocks? on: March 01, 2014, 07:52:32 PM
I'm just trying to understand how cryptostocks work, as the website sure doesn't seem to explain much.

This is an old post (refers to GLBSE, a "cryptostocks predecessor") but the message is the same:

Investors seem to proceed with the belief that these “asset” listings closely resemble the concept of stocks or other security investments made in the regulated world.  We might blame Kickstarter for that.

Kickstarter in its initial form is a platform that simply allows a donation towards a project where the donation earns some type of reward.  Without there being equity there need not be the concept of a corporation or LLC as issuer.  Equity markets are not equity markets without the concept of a corporation or LLC where ownership can be shared by its equity investors.

Without this concept of a corporate entity or LLC there is then little parallel between an asset listed with GLBSE and a company that trades on a regulated exchange.  But when a GLBSE “asset” fails financially or the issuer defrauds, some investors feel the issuer has responsibility for the capital invested into the cyber-equity.  These investors may believe that there is responsibility that extends to the real world.  Already occurring is evidence of pressure by investors being applied against individuals who had been issuers of assets where financial losses were the result.


124  Economy / Goods / Re: Bitcoin Specie Project sponsored by the makers of New Liberty Dollar on: February 28, 2014, 11:28:50 PM
You can get them direct from me certainly, but there are better places if you are after just a few.,, to name a few

When I look at I don't see any method for buying the Bitcoin specie.  

I do see the link for buying from Agora Commodities:

On ebay you take your chances, we've come across some fakes.

Fake silver bullion (e.g., Morgans) ... or do you mean there has actually been fake Bitcoin specie?
125  Other / Beginners & Help / Re: Redeem bitcoins of paper wallet on: February 28, 2014, 11:39:46 AM
In order to redeem it, I read in several tutorials to import the public key in my wallet.

The easiest way I've found to redeem a private key is to use the "cold storage" feature in the Mycelium wallet (Android) app. 

It's dead simple.

1.) Select Cold Storage
2.) Scan (or paste) private key
3.) Scan (or paste) a Bitcoin address (to redeem the funds to).
4.) Click send. 

Seriously, it's that simple.
126  Alternate cryptocurrencies / Altcoin Discussion / Re: Mazacoin on: February 27, 2014, 08:53:41 PM
We're mining it hard right now, turned 600 GHs on it by late afternoon.

What's protecting this (SHA256) coin from a 51% attack?   600 GH/s total is less than a single Th/s ASIC mining rig produces.  i.e., for what is essentially pocket change the coin could be either DDoS'd with a 51% or worse -- a private fork mined with intention of double spending.  Of course, there needs to be markets where this coin is traded to make a double spending 51% attack worth the effort, but the point is -- this coin (and all proof-of-work coins, including Bitcoin), are very vulnerable to a 51% attack -- especially at the critical weeks and months (or years even) after launch before sufficient mining capacity makes the attack more expensive and hopefully, not profitable.
127  Economy / Marketplace / Re: NEFT Vodka and Bitcoin on: February 25, 2014, 08:25:42 PM
Wow! I like it - it's design is pretty cool!  Cheesy  WHere can I buy it?

Europe -- various locations.
U.S. -- California and Las Vegas.  Scroll back to previous posts in this thread for locations.
128  Economy / Service Announcements / Re: Bets of Bitcoin - Bitcoin betting on real world events on: February 20, 2014, 12:12:39 AM
I've got .8 BTC on the line.

If that's your withdrawable balance, here's an update from another thread.

Good news.  I was able to get a withdrawal to work eventually after many, many failed attempts.
The trick was to manually paste the withdraw URL and if the form appeared attempt to withdraw.  I think I had over a dozen tries and I'm not sure which one was the successful one.  Also, I tried withdrawing a whole number (e.g., 1) for amount and that worked.  I'm now trying to withdraw the fraction but haven't yet gotten that successfully withdrawn.
129  Economy / Service Discussion / Re: Warning and Advisory about BetsofBitcoin on: February 20, 2014, 12:11:15 AM
Just wanted to warn and advise that the site BetsOfBitcoin is not closing betting statements, the effect being that your BTC is essentially locked-up, in limbo, and not available to be withdrawn. This is a shame, because the concept of BetsOfBitcoin is a good one.

Heeding to your warning, I went there and got this:

Your request can not be completed at this time. We are working hard to fix it. Please, try again later.
Your Bitcoins and data are safe and backed up regularly.

Good news.  I was able to get a withdrawal to work eventually after many, many failed attempts.
The trick was to manually paste the withdraw URL and if the form appeared attempt to withdraw.  I think I had over a dozen tries and I'm not sure which one was the successful one.  Also, I tried withdrawing a whole number (e.g., 1) for amount and that worked.  I'm now trying to withdraw the fraction but haven't yet gotten that successfully withdrawn.
130  Other / Beginners & Help / Re: on: February 19, 2014, 11:59:50 PM
For other newbies, I've been having fun over on

As a footnote to this thread, Bets of Bitcoin is not updating bets, and there are reports that the site is not functioning when requesting withdrawals.

131  Bitcoin / Bitcoin Discussion / Re: How to use fiat currencies for Bitcoin offline transactions? on: February 19, 2014, 11:48:33 PM
Has this idea progressed at all?

The idea I floated definitely has.

In Kenya, the largest note issued by their central bank is the 1,000 shilling (KES) note.  That's worth about $12.  Cash is still used widely for making purchases such as appliances, used cars, etc.  Imagine going shopping for a new large screen TV and having to carry a 3" thick stack of bills.

Then imagine being the merchant, having to carry a satchel to transport the previous day's cash sales to the bank.

This idea has potential.
132  Economy / Service Discussion / Re: Official Thread on: February 19, 2014, 10:23:58 PM
In case you haven't seen it yet, here is our official press release on Litecoin:

VirtEx launches Litecoin trading

I have a concern about having my bitcoins sit at an exchange (while waiting for an opportunity to sell, such as a potential to profit from arbitrage) but am afraid that with an exchange that also deals with alt-coins that I am at risk should the exchange suffer losses due to a successful 51% attack against an alt-coin.

This concern exists even if I don't touch any alt-coins because in most jurisdictions, once I deposit my bitcoins with the exchange, I have a liability from the exchange that is no different from anyone else's liability.   Specifically, if the exchange suffers losses from a hack attack, 51% attack or any other reason, I would not be guaranteed I could get my bitcoins back.  I shared this concern in a blog post:

When Mt. Gox announced that they were coming out with Litecoin trading, I asked some questions:

But never got an answer other than a response that my "concerns will be considered".

When Kraken announced tat they were supporting alt-currencies, I asked a similar set of questions and got straight answers:

So I would like to describe four specific scenarios that I would like to know what CAVirtEx's policy is should they occur:

A.) My CAVirtEx exchange account holds only fiat and bitcoins, and I've never traded for altcoins.  Would I be exposed to any risk of loss to those funds should there be a successful 51% attack against an altcoin that CAVirtEx supports?

B.) I have a balance of an altcoin and fiat, but had none of those altcoins deposited to CAVirtEx in any block that was ultimately orphaned as the result of the 51% attack.  Would I be exposed to any risk of loss to those funds should there be a successful 51% attack against that altcoin?

C.) I had bitcoins at CAVirtEx and I traded them for an altcoin.  Following this trade the attacker released blocks that resulted in a double spend such that the that altcoins I received were from the attacker's account (i.e., an altcoin deposited with a transaction that no longer confirms or was double spent).  Following the successful 51% attack against the altcoin, do I still have my altcoins that I purchased that I can withdraw (or trade back into Bitcoins)?

D.) In my CAVirtEx account I had deposited an altcoin from a block that utimately was orphaned as the result of a successful 51% attack against the altcoin.   Before the attack I was able to trade those altcoins for bitcoins which remain in my account.    After the successful 51% attack against the altcoin, do I still have the ability to withdraw those bitcoins?
133  Bitcoin / Legal / Re: List of court cases, complaints, regulatory actions, etc. on: February 19, 2014, 05:53:12 PM
This thread is no longer being updated all that much. As Bitcoin further permeates the world, most every nation (or state, etc.) will have content specific to that jurisdiction's involvement with Bitcoin.   Feel free to continue posting as you wish, but this thread will no longer be even close to being a comprehensive list as it had been for a period of time.

Other resources:

 - (info:

I've updated the first post with this update.
134  Economy / Gambling / Re: Mem presents: LIST OF NEWBIE FRIENDLY GAMBLING SITES on: February 19, 2014, 09:44:26 AM
Sadly, nearly two years later -- my suggestions went three for three in which eventually those who had funds remaining with the service saw a complete loss.  Bets of Bitcoin is no longer functional for withdrawals and bets are no longer being updated.

Drop me a link with any good sites I have missed and I will try them and add to the list.

 -  (Monthly draw, 99% payout verified using the blockchain)
 - (Predictions market, Binary events)

 - http://Bitcoinica  Smiley

135  Bitcoin / Project Development / Re: ICBIT Derivatives Market (USD/BTC futures trading) - LIVE on: February 19, 2014, 04:18:11 AM
Site appears broken (i.e., no orderbook data, time & sales blank,  trollbox blank, etc.)

So, ... bump on this request:

If there is a maintenance outage, there should be some message displayed on the site.  And there should be some communication of status out-of-band, ... perhaps here on this thread, or/and on the @ICBIT_se Twitter account maybe?

136  Bitcoin / Meetups / Re: Los Angeles - Satoshi Square - 2/18/14 on: February 19, 2014, 12:18:43 AM
Tuesday, February 18th 2014
Downtown Los Angeles @ Grand Park
Hill St (between 1st & Temple)

Can't attend myself, but it would be really cool if someone picked up a NEFT vodka -- the one with the Bitcoin logo on the side of the bottle ("barrel") and offered to trade that for Bitcoin (Agorism, FTW).

Dozens of places not far away from Downtown L.A. where NEFT can be purchased.
137  Bitcoin / Meetups / Re: Los Angeles (SoCal) Bitcoiners Meetup? on: February 19, 2014, 12:13:55 AM
This Is Bitcoin (Series)

First of Four:

Thursday, February 20, 2014
5:30 PM to 9:00 PM
General Assembly LA
1520 2nd Street, Santa Monica, CA

Moderated by technology journalist, Amanda Coolong.

Featured panelists include Brock Pierce of Bitropolis and BitAngels, GoCoin's Steve Beauregard, Joseph Hsieh of ExpressCoin, Ryan Singer of CryptoCorp, and Travis Skweres of CoinMKT.

Early bird tickets $10, otherwise $20.   10% discount if paying with Bitcoin.
138  Economy / Service Discussion / Re: *Unofficial* ICBIT (BTC Futures Trading) - Help & FAQ's on: February 19, 2014, 12:08:42 AM
The option contracts are only quarterly now?  How about monthly or weekly?

There are XBT/USD contracts for each of the following months:

Feb, 2014 (Settlement Feb 21st)
Mar, 2014 (Settlement March 14th)
Apr, 2014 (Settlement Apr 18th)
Sep, 2014 (Settlement Sep 19th)

There will likely be additional contracts added for one or more month(s) between now and September.

Nearer term contracts don't usually see much volume.
139  Bitcoin / Project Development / Re: Settlement Price on: February 15, 2014, 02:12:01 PM
Has the Settlement Price changed because of the divergence of MtGox?

Each of the contracts has different terms.   

BUG4 (BTC/USD-2.14) settles Feb 21st, and gets price based on the volume weighted average price (“VWAP”) across the three operating exchanges with the most volume in BTC-USD over the previous 30 days.

So eyeballing the BitcoinCharts data, looks like Mt. Gox will definitely be one of the top three over the past 30 days (in terms of BTC/USD volume).

Now what impact Mt. Gox will have on settlement day will be determined by the (24 hour) VWAP at Mt. Gox at the settlment time (20:00 UTC) on that day.   So if the top three (volume of BTC/USD) are Mt. Gox, BTC-E and Bitstamp and the (24 hour) VWAP at each is 600 (Mt. Gox), 750 (BTC-e) and 750 (Bitstamp) then the average of those three is 700 (2,100 / 3) and that becomes the final settlement price.

Now BUH4 (BTC/USD-3.14), which settles March 14th, uses the 24 hour VWAP from the exchange that had the most volume (in terms of BTC/USD) over the past 30 days.  So this time, eyeballing the data, it looks like Bitstamp would be the exchange with the most volume.  And thus, no -- MT. Gox divergence would not impact the settlement price.

And BUJ4 (BTC/USD-4.14) specifies the exchange (Bitstamp) so there too Mt. Gox divergence would not impact the settlement price.
140  Local / Marketplace (India) / Re: WTB: gift certificate (INR) on: January 29, 2014, 10:59:28 AM
I'm looking to add 3,000 Rs again (29-Jan-2014).

How this works is,
1.) You and I agree on the rate (in BTC) for your 3,000 Rs.  [e.g., ~0.067 BTC if using today's BTC/USD of $730 on BitStamp]
2.) I provide to you my e-mail address.
3.) You buy a 3,000 Rs gift e-card from Milaap, paying with your Netbanking or with an Indian credit card.  Entering my e-mail as the gift recipient.

 -  <-- PM me for my Milaap "lender name and e-mail".

4.) You send to me your Bitcoin address for my payment
5.) I receive the e-mail, redeem the gift e-card, and send to you the bitcoins.

PM me if interested
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