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1201  Bitcoin / Press / Re: 2013-04-12 Introducing MigCoin on: April 12, 2013, 08:30:21 PM
Ben Bernanke over at the US Federal Reserve should take a look a this. Using his DNA as a way to ensure the US currency cannot be counterfeited does have merit you know.

Now my coins can be spent by anyone who snags my empty beer glass after I've finished it.   Great idea!

p.s.,  That is about five articles today with Bitcoin spelled "BitCoin".   I think they know it drives us OCD people nuts and keep doing it purposely.
1202  Bitcoin / Press / Re: 2013-04-11 - CNBC adds a Bitcoin ticker on: April 12, 2013, 08:18:02 PM
Now this is big! Mainstream we are here!

Agreed ... huge!

Now one thing is needed.  Accurate quotes.  It does show "accumulating data" though.

And the symbol is bad.  It shouldn't be "MTGOXUSD :", it should be maybe MTGOXBTC  ?    (as it is the spot price of a BTC expressed in dollars).    Just like AAPL :NASDAQ is a share of that stock expressed in dollars.

It is too bad there isn't an ETF up and running they could quote.
1203  Bitcoin / Press / Re: 2013-04-12 Business Insider - I tried hacking Bitcoin and I failed on: April 12, 2013, 08:10:21 PM
he also can't seem to understand the anonymity features around stolen coins even though their movement can be tracked via the blockchain.

I haven't looked closely but at a minimum there were stolen coins from bitcoinica that were distributed randomly to IRC users and others:

Bitcoinica stolen coin returns

and there've been many various successful exchange hacks so while some might have held onto the loot, others certainly have mixed and cashed out.

List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses

1204  Bitcoin / Bitcoin Discussion / Re: Discount at bitcoinstore? on: April 12, 2013, 07:42:37 PM
And I really feel sorry for all bitcoin merchants like bitcoinstore and bitpay. They were operating blindly when mtgox was down for 12 hours, and took huge risk in the extremely volatile market.

BitcoinStore doesn't set the rate, their payment processor does.

And they use a rate from multiple exchanges.

Just because it is difficult to move enough funds into Mt. Gox to meet the selling pressure doesn't mean the more favorable prices at other exchanges can't be utilized.

We are getting to the point that there is no longer just one marketplace that dictates what is the current bitcoin spot price
1205  Economy / Service Discussion / Re: My funds and BTC have just disappeared from my Gox account! on: April 12, 2013, 11:52:38 AM
did you have 2 factor authentication?

Hindsight is 20/20.   But to help persuade anyone who does not yet use 2-factor auth, hopefully this helps in making an informed decision:
1206  Economy / Service Discussion / Re: How I got robbed of 34 btc on Mt.Gox today on: April 12, 2013, 11:50:38 AM
They should compensate me 100%. First because their site is not secured against such rudimentary attacks as has been demonstrated today. I'm not the first and certainly not the last so long as they don't deal with this.

Incidentally, they do have a method that is secure against this ... Yubikey, and Google Authenticator.

Happens a lot:

MtGox account got cleared out

All BTC disappeared from my Mt. Gox account


And another: My mtgox account got compromised, what can I do?

Yet more: MT.Gox account hacked - lost 2k USD - MT.GOX will not explain how.

And more again: Bitcoins stolen from MtGox

And yet more: Stolen from Mt.Gox coins. Help return the coins.

Or more here: Email from Mt.Gox this morning.

And even more here: I just had $715 stolen out of my Mt. Gox account.

And the biggie: Bitcoinica MtGox account compromised

With more here: Unauthorized Account Activity on my Mt.Gox Account - Account Compromised/Hacked?

And even more: *MY* Mt Gox Account was Hacked - lost it all today... now what!?

Ditto: My MtGox account was just exploited - 3 BTC stolen

Ditto on the ditto: Just lost 190 bitcoins through Mt. Gox

And other ones get added to the list: Unauthorized withdrawal on Mt. Gox

And now this: How I got robbed of 34 btc on Mt.Gox today

And another recent one: My funds and BTC have just disappeared from my Gox account!

And on other services as well. Here same thing happened to some GLBSE users:

And elsewhere, in this instance:

And on as well: Bitcoins stolen from

In none of these was the person using multi-factor authentication. Mt. Gox has had Yubikey support for a while. Mt. Gox accounts now support Google Authenticator:

If the exchange you are storing funds with doesn't provide OTP, consider using a different exchange:

If you are storing funds in an EWallet, consider using a paper wallet.

Also, here is a fantastic guide: How to use 2-factor auth on mtgox, even without a smartphone (from a second device, of course, not from the same computer you log in on).
1207  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, 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.
1208  Bitcoin / Press / Re: NEW articles in Press Forum on: April 12, 2013, 11:03:11 AM
2011-04-11 - Bitcoin and the Rebirth of Financial Safe Havens
1209  Bitcoin / Press / 2011-04-11 - 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

'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.

1210  Bitcoin / Press / Re: NEW articles in Press Forum on: April 12, 2013, 09:53:02 AM
2013-04-12 - What We Learn From This Bitcoin Correction
1211  Bitcoin / Press / 2013-04-12 - 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

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.

1212  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.
1213  Bitcoin / Technical Support / Re: Encrypt private key on paper wallet using on: April 12, 2013, 07:47:43 AM
Current version is based on v2.2,

Current version hosted on BitAddress is v2.4.

If GitHub has a version tagged for v2.5 that might mean release is imminent.  Does v2.5 have encrypted wallets?
1214  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 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 ... that is probably an even better idea than trying to get a Bitcoin-Qt set up just for this one transaction.
1215  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?
1216  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.
1217  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:

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.
1218  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

 - 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 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
1219  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:
  Data temporarily from Bitstamp (while trading at Mt Gox is paused).
1220  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. 
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