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1441  Economy / Service Discussion / Re: List of services with shared wallets? on: March 27, 2013, 08:42:40 AM
ok but which one of them are widely used and require no or minimal registration?

You are possibly overlooking the question you should be asking.

Which ones can be trusted to hold your funds?

And the answer to that is, the ones whose identity is known, the ones who make use of cold storage -- preferably with the private keys protected using something like SSSS (Shamir's secret sharing scheme) stored in a bank vault, etc.

That narrows the list pretty significantly -- Coinlab/Mt.Gox (U.S.--soon), Bitcoin-Central/Paymium (France), ??

Now there are others that might qualify, such as Coinbase (U.S.), but they aren't shared wallets -- addresses in your wallet are not shared with other customers of that service.  And is a hybrid EWallet and addresses are not shared.

Also, two-factor authentication is an important criteria for an EWallet:

Which Two-factor authentication methods are available at which exchanges?
1442  Economy / Speculation / Re: The Weekend Dip Myth on: March 27, 2013, 07:24:03 AM
Needless to say, this weekend we are not in a downtrend [...], so there's no green light.

Having burst through the previous weekly high, Ditto.

What is interesting is that last weekend even without a green light, there was a dip -- from $74.90 to $52.35, a 30% dip from peak to bottom, but sure enough the exchange rate came right back up.

This weekend there is a unique situation.  It is a FOUR DAY weekend (i.e., banks closed) in the EU due to the Easter holiday:

Whether that is enough to trigger a dip I have no idea.   I only describe when there is a green light indicating when the Weekend Dip Strategy has historically resulting in profitable trades. This weekend there is no green light.
1443  Other / Off-topic / Re: The dictionary attack on: March 27, 2013, 07:01:28 AM
So i've been seeing Alot of "my mt.gox account was hacked" "my xbox account was hacked" "my facebook account has been hacked" Etc...

Fortunately there is also two-factor authentication, rendering dictionary attacks essentially worthless for compromising the login credentials.

Which Two-factor authentication methods are available at which exchanges?
1444  Bitcoin / Project Development / Re: Shouldnt we be funding/supporting a mesh network ? on: March 27, 2013, 03:44:21 AM
A small bitcoin node that doubles as its own mesh node.

Or a small mesh node that doubles as a bitcoin node:
1445  Bitcoin / Technical Support / Re: Mt.Gox import private key help on: March 27, 2013, 02:40:28 AM
Every private key I entered came up with the response that the wallet was empty and it might be a typo. Besides that message it seemed to have accepted the private key because if I tried to resubmit it would tell me it was already uploaded.

Out of curiosity, try sending a reasonable amount (e.g., 0.01 BTC or above) to an address that you have already imported to your Mt. Gox wallet.  If that gets swept but the "dust" doesn't then you have your answer.


From another thread:

18:02.47 ( @MagicalTux ) must have been some changes with the new version of bitcoin
18:04.19 ( @MagicalTux ) we have a project that will solve that, I guess I'll have to push it sooner than expected
18:04.59 ( kakobrekla ) any eta on when these get credited?
18:05.57 ( @MagicalTux ) I guess we have created the txs, but it's stuck in the transfer queue because bitcoind randomly refuses connections
1446  Bitcoin / Technical Support / Re: blockchain showing 27 Confirmations but no BTC? on: March 27, 2013, 02:12:27 AM
What happened? i never seen a transaction need more than 10 confs

What you are describing is a delay where a hosted (shared) EWallet is not crediting your account in a timely manner.  This is not a problem with bitcoin but instead a problem with that specific EWallet provider.

You should contact that specific EWallet provider to inquire why there is a delay.

1447  Bitcoin / Press / Re: 2013-03-26 - An Interview with Yifu Guo / Avalon ASIC on: March 26, 2013, 08:24:19 PM
Further discussion:

Interview with Yifu Guo from Avalon Asic
1448  Bitcoin / Press / 2013-03-26 - An Interview with Yifu Guo / Avalon ASIC on: March 26, 2013, 08:22:52 PM
Engineering the Bitcoin Gold Rush: An Interview with Yifu Guo, Creator of the First ASIC-Based Miner

by Alec Liu

And quietly in the background, a company called Avalon shipped the first ASIC-based bitcoin miners, custom-built rigs with specially-designed chips for efficiently printing the marketís hottest commodity, ushering in what can be considered the internetís first gold rush. (Someone recently paid $20,000 for a $1,500 miner from batch two on eBay. At the time of this writing, another auction has a batch two Avalon miner going for over $19,000.)

After opening up its third batch of 600 miners for sale yesterday, customers from around the world from countries like Argentina, the UK, and even Egypt (although the majority of orders came from the big three of the U.S., Russia, and China) made sure Avalonís units sold out in fifteen minutes. We had the chance to sit down with Avalonís founder, Yifu Guo to talk bitcoin, mining, and the future.
If bitcoin is a $1 billion market, and it only takes less than $1 million to secure the network right now, thatís not a lot of money for someone to try and take over the mining scene. The faster the technology progresses, the more secure the network is, because it will be that much harder for a malevolent entity to mess with the system. We want to [improve performance ...] The sooner the better so weíll never again have this scenario where one company like Avalon essentially controls more theoretical computing power than the entire networkís hash rate. This will never happen again.

1449  Bitcoin / Project Development / Re: - Crowdfunding for Bitcoin on: March 26, 2013, 03:58:18 PM
Would it help if the service allowed you to launch your project with your own BitCoin project address, rather than keeping the funds in escrow.  Then the issue of security is isolated to that user?  That has it's own issues, but perhaps in the beginning this would be the best approach?

One of the reasons Kickstarter is "all or nothing" (i.e., meet the target level or funds are returned to the contributor) is because the funds returned on projects that never reach the goal get funneled into the remaining ones giving those leaders a better chance of reaching their goal.

Occasionally a project that only gets partial funding can still become a successful project but other projects will fail unless the entire minimum level of funding is achieved.  Two successful, fully funded projects and twenty projects that never reached full funding is better than twenty-two partially funded projects, and all or nearly all failed.

So I don't think letting the project owner provide the bitcoin address is ideal either.

This is an example of where M of N signatures would come in useful.
1450  Economy / Economics / Re: The problem of a depreciating currency on: March 26, 2013, 12:54:02 PM
Why in the world would I, or any other sane person spend the coins, knowing that tomorrow, they will have greater value.

In the U.S. I can easily add USD funds to an exchange so that they are ready to be converted to BTCs at any time.   (E.g., sending funds using Mt. Gox using Dwolla, my costs are simply the $0.25 per-transaction fee.)

So I can replenish my stash of bitcoins at about the same time I make a purchase so that my net holdings (number of bitcoins) never decreases.

The reason I might do this is so that I can make purchases where Bitcoin's attributes as a payment network are superior.  For instance, my retailer may give me a discount when I purchase using bitcoins since there are no merchant payment network fees.  Or my supplier will only accept bitcoins due to it being a non-reversible payment method.  Or I wish to send internationally and the delays and/or fees are prohibitive.

Additionally, if I have all my savings in bitcoin, and I want to make a purchase, it costs me money to first convert those savings to fiat (e.g., USDs) and then to spend them.  So being able to spend them directly is advantageous.

The thing is though, it is all a moot point.

If there will be an economic decline because of Bitcoin, then there will be an economic decline because of Bitcoin.  Even if I am told that using bitcoins will cause some economic deflationary spiral, I will still listen to my personal ambition to acquire and use bitcoins versus to avoid them as the result of this prediction of doom.  After a whole bunch of decades watching our currency get devalued to protect us from negative economic cycles, the market is now making the decision to use a different currency -- one that doesn't get devalued.  Like it or not, that's what is happening.
1451  Other / Beginners & Help / Re: What BTC to USD or GBP price sources are most popular with the community here? on: March 26, 2013, 12:04:10 PM
I've looked at one but may want to make a tool that feeds the data in to my mobile and would be great to even see someone else already API'ed or at least see some options.

BTC/USD at Mt . Gox then converted using GBP/USD from (? source).
1452  Economy / Gambling / Re: [BITLOTTO] Mar 1 draw over $2000 or 50BTC! Tickets now 0.1 BTC for Apr 5 on: March 26, 2013, 11:55:55 AM

1453  Other / Beginners & Help / Re: Too many characters? on: March 26, 2013, 11:48:47 AM
This may have a really simple answer but why if the first 8 characters of the btc address are all unique do they need the other ones.  Huh

The first 8 characters are not "all unique", they just happen to be "unique enough" that it is extremely unlikely to ever have a collision.

Now Firstbits are different as they can be tied to a Bitcoin address because of the order they have been seen in the blockchain.   For instance, the Firstbits "1" will uniquely identify the first Bitcoin address that starts with a 1 -- which happen to be the Bitcoin address for the generated coin in the genesis block.  Every other Bitcoin address also starts with a 1, except the fist one in block 0 is the only one with a Firstbits of "1".
1454  Bitcoin / Bitcoin Discussion / Re: Why was BitcoinReporter twitter account suspended? on: March 26, 2013, 11:29:18 AM
I've just noticed that has been suspended. Any insight?

The account possibly was compromised and used for spamming:

We also may suspend accounts for investigation if we suspect an account has been hacked or compromised.
1455  Bitcoin / Project Development / Re: - Crowdfunding for Bitcoin on: March 25, 2013, 07:50:36 PM
Your domain is newly registered and has privacy protection enabled.

Your forum account is new.

You have not shown any trust history in the -otc Web of Trust.

And you hold (escrow) user's funds.

The history of sites run anonymously is not very good.  Even those that build up trust by being honest seem to eventually succumb to the allure of anonymous digital cash just sitting there for the taking.

If this is a gift-based crowdfunding (like Kickstarter) then it can be offered legally and there is no reasonable excuse not to disclose who the operator(s) are.

That still doesn't protect against against a claim of "oops, the site got hacked, coins are gone" or the operator simply disappearing.

In the instance where the person listing a project is soliciting funds, if things go wrong, that person may feel personally responsible for using a service that didn't have protections against a loss like I describe.

What assurance does this person have that any funds raised are secure (other than a claim of innocent intent)?
1456  Other / Beginners & Help / Re: Imagine this.. on: March 25, 2013, 11:20:31 AM
Bill Gates buys all the Bitcoin, sells it to the government, taxes everyone, we lose.

Bill Gates would run out of cash pretty quickly as the exchange rate would rise significantly.

But let's say for whatever reason he happened to have been able to buy all 10,948,725 BTC that have been issued today.  But in the next 24 hours there will still be 3,600 BTC issued (144 blocks, 25 BTC per block).  Then each bitcoin hold 100,000,000 Satoshis.

So each day there are 3,600,000,000 new Satoshis added to the bitcoin monetary base.  In two days there are enough Satoshis so that every man, woman and child on the planet could get one and there would be some Satoshis left over.

About the worst outcome from that is the government starts selling these coins and that introduces volatility, but then they would no longer have "all the bitcoins", so that defeats the point you were trying to make, I think.
1457  Bitcoin / Press / Re: NEW articles in Press Forum on: March 25, 2013, 11:02:35 AM
2013-03-24: Cyprus Goes Cashless The Hard Way
1458  Other / Beginners & Help / Re: Any bitcoin brokers here or out there? on: March 25, 2013, 10:38:16 AM
I am thinking of starting a brokering business, introducing Bitcoin buyers and sellers, and providing a safe escrow service for the transaction. This allows people to trade without affecting the price out of their favour on the exchanges.

I only know a little of this, but what I'm learning is that finding the bulk sellers is harder than finding the bulk buyers,  The larger sellers might have coins from revenues arriving over a period of time (either mining or from sales to customers who pay using bitcoins).  This is in contrast to the bulk buyer who arrives and wants to purchase the full amount in a single transaction with little delay, and at a level somewhat close to the current spot rate.

So in order to have access to the seller's supply there needs to be capital so that the seller will never be turned away whether or not a buyer is already lined up for those coins.  The unsold stock may get converted to USDs and parked at an exchange until a buyer arrives, so as to protect against exchange rate risk, but that still is a capital intensive operation.

1459  Bitcoin / Legal / Re: FinCen and MtGox on: March 25, 2013, 09:01:06 AM
Doesn't MtGox have a US company that's registered with FinCen and handles all the exchanges? If so, US buyers/sellers through MtGox shouldn't be regulated, even in accordance with their new regulations. Thoughts?

If you are referring to Mutum Sigillum LLC, that is only used for Dwolla USD transactions to and from Mt. Gox.  I don't know that Mutum Sigillum is registered with FinCEN as an MSB.  

I believe this will soon be a moot point as accounts in the U.S. get transitioned over to service by Coinlab.  Coinlab has registered as an MSB, apparently with some reference to being a "seller of prepaid access". 
1460  Bitcoin / Technical Support / Re: Simple addr/key gen? on: March 25, 2013, 08:10:37 AM
Preferably in C# using standard MS crypto-libraries.

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