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201  Alternate cryptocurrencies / Announcements (Altcoins) / Re: The Official Mastercoin Foundation, Master Protocol & Mastercoin Thread on: July 09, 2014, 02:39:40 PM
I can't wait to see what happens when you pair a digital currency with the looming failure that is the US Dollar.

I don't know enough about Mastercoin to know how this will work.  Does the "issuer" (e.g., Realcoin, Inc/Ltd/???) have the ability to censor transactions, and/or reverse transactions?
202  Bitcoin / Press / Re: [2014-07-09] Have Brock Pierce and Realcoin copied Coinaaa? on: July 09, 2014, 02:28:33 PM
Is this really press of an alt ANN?

Yes.  About the only reason this would be even remotely related to Bitcoin to justify its inclusion here is that Brock Pierce is a Bitcoin Foundation board member.

Further discussion for this announcement probably should go here:

Brock Pierce launches "Realcoin" a dollar-backed coin that competes with Bitcoin
 - http://bitcointalk.org/index.php?topic=683521.0
203  Alternate cryptocurrencies / Altcoin Discussion / Re: Brock Pierce launches "Realcoin" a dollar-backed coin that competes with Bitcoin on: July 09, 2014, 02:23:48 PM
Grin crypto-currency backed by FIAT ...

I'ld think of it as being something of a current account -- the same thing that customer deposits are referred to by banks, PayPal, Dwolla, etc. etc.

If this were a decentralized cryptocurrency (e.g., using proof-of-work), I don't know how they'll be able to get a money transmitter's license as they are said to be planning.  But this is on Mastercoin.

I don' know enough about Mastercoin to how how this will work.  Does the "issuer" (e.g., Realcoin, Inc/Ltd/???) have the ability to censor transactions, and/or reverse transactions?
204  Bitcoin / Project Development / Re: [BitPool] Mesh networks to bypass ISPs on: July 01, 2014, 01:23:07 AM
I'd like to share here some interesting links that I am sure most of you are already acquainted, but it seems to be important as reference:

Also, the Free Network Foundation (FNF) should be something to follow:

 - https://lists.thefnf.org/listinfo/discuss
 - http://lists.thefnf.org/pipermail/builders
 - https://lists.thefnf.org/listinfo
 - https://thefnf.org

And maybe SkyWire:
 - http://bitcointalk.org/index.php?topic=380441.msg7588531#msg7588531
205  Bitcoin / Bitcoin Discussion / Re: Does anyone keep money in their checking accounts anymore? on: July 01, 2014, 12:46:29 AM
Bitcoin is allowing "just-in-time" cash management of a bank account.

This lets the person who gets bitcoin income to use a bank account only when needed (e.g., mortgage or rent payment, etc.)    A transfer from Coinbase takes two to three business days, so if you pay monthly, for instance, you can wait right up until the end of the month to sell your coins and have the cash arrive at about the same time the payment is due.

One might think this is risky because there could be issues -- such as Coinbase canceling the order as "high risk" (which has happened to many, reportedly) but then there is also the same-day backup plan, using http://Bitcoin-brokers.org (or similar) to get a trade where cash is deposited into your bank account.

So while a person still might keep a bank account, Bitcoin enables one to manage a lower bank account balance.
206  Bitcoin / Project Development / Re: BitID Mediawiki Plugin on: June 25, 2014, 11:43:33 PM
module implementing bitid

Info on BitID:

 - http://bit.ly/bitid-slides
 - Example: http://bitid.bitcoin.blue
 - Video: http://www.youtube.com/watch?v=3eepEWTnRTc
 - http://github.com/bitid/bitid
207  Economy / Trading Discussion / Re: Tips for local transactions on: June 23, 2014, 06:54:37 PM
Physical security when trading in-person needs to remain the first priority.

I just read an interesting statistic:

Quote
44% of M-Pesa agents report personally knowing someone who has experienced robbery or theft and the qualitative research revealed that some agents are hiring security guards which is increasing costs.

 - http://www.helix-institute.com/data-and-insights/agent-network-accelerator-survey-kenya-country-report-2013
 - http://helix-institute.com/sites/default/files/Publications/Agent%20Network%20Accelerator_Kenya%20Country%20Report_2013.pdf
 - http://bit.ly/1iqtp2R (using browser-friendly PDF viewer)

There is a significant difference between a Bitcoin trader and an M-Pesa agent as far as physical safety is concerned.  The M-Pesa agent needs a significant inventory of cash because there's no way to know how much cash will be needed to support the day's needs.   A person trading Bitcoin knows in advance of doing each trade the amount.   Therefore, the trader being asked to do a larger trade can adjust to give a heightened level of security for trades when prudent (e.g., for larger trades, or with those counterparties who
show few or no prior trades.)

There's certainly good reason banks, check cashers, and even convenience store clerks protect themselves behind bullet-resistant glass, steel cages, etc.  Those trading Bitcoin should be acutely aware of the risks businesses that deal with cash are subjected to.
208  Bitcoin / Bitcoin Discussion / Re: MINERS UNITE! Block the FBI coins. Do not fund violent underground organizations on: June 16, 2014, 04:55:53 AM
The Bitcoin protocol remains unchanged

Not true.  This change to the client that blacklists those coins does not follow the Bitcoin protocol.  It rejects blocks that are valid using the client prior to the change, therefore this client is imposing a change to the protocol that is not backward-compatible.  (It is still forward-compatible though, meaning clients that don't implement the blacklist will still validate and accept blocks solved by this "blacklisting client").

Miners will be taking a risk by adopting a client that uses the blacklist.  They risk that there truly won't be enough miners using the blacklist.   If this happens, there will be a blockchain fork and those miners using the blacklist will be working on blocks that may not ever become part of the longest chain.   Miners are not gamblers -- they will not switch to a client that is not backward-compatible without first being really confident there is almost no chance the changes will cause a blockchain fork.

Even if there were something like 80% of the miners onboard, however, that doesn't guarantee success.

See, the buyer of these disputed coins has an economic incentive for them to be fungible.   So all this party would need to do is to spend some of the coins and include significant fees on those transactions such that miners are leaving a significant amount of money on the table by implementing the blacklist.   So if the block reward paid to miners is 25 XBT, then maybe adding a transaction fee of just a few bitcoin would be enough to sway over some miners such that the longest chain continues to extend off a block which includes the blacklisted coins.  That action requires no change to the protocol and no change to the client.  And once these transactions start to circulate, a blacklist on taint starts to harm others who are innocent and thus there's more "backing" available to ensure that the blacklist fails.
209  Bitcoin / Pools / Re: GHash.IO has 51% of the network now on: June 13, 2014, 01:46:31 PM
So, ghash.io acts as a benevolent dictator -- one who knows the penalty for abusing that privilege is instant decapitation.
210  Other / Beginners & Help / Re: Buy Bitcoin with sms/phone - Need help/advice on: June 10, 2014, 12:37:59 AM
Is there a way to buy bitcoins using mobile phone credit?

The problem will likely be that mobile phone airtime/credit is usually reversible at some level.  For instance, an M-PESA transaction might be reversed under certain situations such as claiming a phone was stolen and the funds sent without authorization.

So where you see this first done, it is usually by individuals selling who will find trades using something like LocalBitcoins or MyCelium app's local trader feature.

It will therefore be spotty for some time -- a trader might be found for one mobile airtime/credit network but not the next.   Which mobile airtime/credit network were you looking to do this with?
211  Economy / Goods / Re: NEFT Vodka and Bitcoin on: June 09, 2014, 11:06:15 PM
Reddit thread with comprehensive info on availability:


NEFT Vodka "Limited Edition" Bitcoin Bottle Available in NY, NJ, NV, and CA
 - http://www.reddit.com/r/Bitcoin/comments/25n6fd
212  Economy / Currency exchange / Re: Mang Sweeney's: send money to the Philippines through bitcoin on: June 09, 2014, 10:09:15 PM
From a Reddit post on Bitcoin in the Philippines:

- http://www.bitmarket.ph
- http://www.coinxchange.ph
- http://www.buybitcoin.ph
- http://www.coins.ph

Five weeks since we launched our first venture here in the Philippines called Bitmarket.ph
 - http://www.reddit.com/r/Bitcoin/comments/27ougl

213  Other / Beginners & Help / Re: Easiest way to buy bitcoins with credit card. on: June 09, 2014, 09:59:46 PM
http://TruCoin.com -- buy with credit or debit card.

Currently in beta, but those on the list are getting invites.

As far as some background on TruCoin -- at one point in time (before there was a Bitcoin Foundation), TruCoin paid a salary to Gavin to continue as lead core dev and they also hired someone to do QA on the Bitcoin client.
214  Economy / Trading Discussion / Re: Tips for local transactions on: June 06, 2014, 10:59:52 AM
Physical security when trading in-person needs to remain the first priority.

Here's a report on Reddit of an attempted robbery during what was supposed to be a trade:

Be careful-Attempting mugging at in person trade
 - http://bitcointalk.org/index.php?topic=641160.0

Attempted to steal my bitcoins [and phone] in local trade
 - http://reddit.com/r/Bitcoin/comments/27gke8
215  Other / Politics & Society / Re: U.S. CrowdFunding Bill on: June 06, 2014, 01:41:26 AM
Going to be interesting to see how this plays out!

The crowdfunding part of the JOBS act has been nothing but a total waste of time, to-date.

Now there is this:

The Equity Crowdfunding Improvement Act of 2014
 - http://financialservices.house.gov/uploadedfiles/bills-113hr-pih-crwdfnd-m001156.pdf
 - https://www.invigorlaw.com/congressional-committee-contemplating-jobs-act-2-0-to-revive-crowdfunding
216  Bitcoin / Legal / Re: The TD F 90-22.1 Form for Bitcoin on: June 06, 2014, 12:28:39 AM
scenario 1:

Trader had 400 BTC at Mt. Gox in June 2011 (when it was at one point worth $32 per BTC).

Does that trader need to file a 2011 FBAR

Sorry for the Necro thread but the IRS just made it clear that the value of Bitcoins doesn't count towards the FBAR threshold.

Rod Lundquist,  BSA Senior Program Analyst at the IRS announced the policy guidance when asked about bitcoin during a webinar:
“At this time, FinCEN has said Bitcoin is not reportable on the FBAR, at least for this filing season.”
 - http://coindesk.com/irs-no-bitcoin-reporting-fincen-foreign-banking-tax-form

Now that still doesn't make clear if a Bitcoin exchange where you can have a cash balance (for buying bitcoins or for the proceeds after selling) is considered a financial institution.
217  Bitcoin / Legal / Re: US Gox Account Holders - Think About Filing That FBAR/Form 90.22.1 on: June 06, 2014, 12:15:22 AM
If you had an account at Mt. Gox last year, and if AT ANY TIME DURING THE YEAR the account value exceeded 10k, you may want to file a foreign financial account form - called a 90.22.1 form (also known as FBAR).

Rod Lundquist,  BSA Senior Program Analyst at the IRS announced the policy guidance when asked about bitcoin during a webinar:
“At this time, FinCEN has said Bitcoin is not reportable on the FBAR, at least for this filing season.”
 - http://coindesk.com/irs-no-bitcoin-reporting-fincen-foreign-banking-tax-form

Now that still doesn't make clear if a Bitcoin exchange where you can have a cash balance (for buying bitcoins or for the proceeds after selling) is considered a financial institution.
218  Bitcoin / Bitcoin Discussion / Re: What stops a Federal Reserve crypto scheme of their own? on: June 05, 2014, 07:32:44 PM
Because a centralized decentralized monetary system makes no sense.

Bingo!   The reason Bitcoin exists is that it is a payment system that is from from censorship (i.e., restrictions on who can receive payments or what the payments are for) and from corruption (i.e., impose taxes on transactions or the money supply, confiscate the wallet of a lawbreaker, etc.)

The Fed already has electronic monetary systems.  A coin that competes against their own systems would not be welcomed.
219  Bitcoin / Development & Technical Discussion / Re: python-obelisk: Pure Python Obelisk + Bitcoin client side library on: June 01, 2014, 11:27:58 PM
Just a heads-up, i read:

Quote
Warning. Non-standard tx coming could probably fork libbitcoin/Obelisk from the main chain. #Bitcoin
- http://twitter.com/SDLerner/status/472388946761371648

And I see also:

Quote
I need to send a non-standard tx.
- http://bitcointalk.org/index.php?topic=627218.0

Is there a vulnerability and is it being addressed?
220  Bitcoin / Mycelium / Re: Mycelium Bitcoin Wallet on: June 01, 2014, 11:17:08 PM
As far as I remember Stephen Gornick had some success running it on BB, but there were also some shortcomings (don't remember which).

The minor inconveniences in running on BB10, ... detailed here.
 - http://bitcointalk.org/index.php?topic=293472.msg6353007#msg6353007

And yes, ... backup was one of the issues I described.

I would instead create the private key offline, turn it into a QR code and import it into the wallet

That was the workaround I have used.

The only pain point I have is learning about a new response to my trade offer with Local Trader.  Right now I hear a beep -- that's it.  There's no interaction with BlackBerry Hub like I would get if there was a new WhatsApp message, for instance.  Of course, that's because it is an Android app with no access to BlackBerry notifications system (at least not yet, 10.3 will: http://devblog.blackberry.com/2014/05/new-beta-of-the-blackberry-runtime-for-android-apps-now-available, and also Android apps can use the Blackberry 10's sharing framework as well.  So the Mycelium backup feature will probably work with 10.3 when that becomes available.).

But even with that, whether I use Android or Blackberry, ... it probably would be nice if I were able to get an e-mail or text message notification that I received a new response to a trade ad.  All I need to know is that I should launch the app and check my Active Trades.
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