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2281  Economy / Service Discussion / Re: Bitmit is Closing?? on: January 10, 2013, 01:31:22 AM
As a bookend to this thread:

However, due to private reasons I decided to close Bitmit. It it too much stress for me because it is a huge responsibility to keep such a site running and  growing user funds safe. The site will stay online for some more weeks to guarantee that all current orders can be completed.

and then:

I planned this already some time ago and when I am going to "close"->sell Bitmit to somebody who can run it more seriously it would be a benefit for all of us I think.

Selling it on a Bitmit auction is a quite good idea I consider.

[Edit: And a related thread:

[warning] was sold secret without telling the community.
 - ]
2282  Bitcoin / Bitcoin Discussion / Re: American Spirit Arms blocked by BOA on: January 09, 2013, 11:29:48 PM
What happened to Joseph Sirochman is extremely typical.

I wonder if accepting bitcoin for payment would paint a bigger target on these gun and ammo sellers than they already have (or at least I wonder if that would be a fear these sellers might have.)

These sellers are more dependent on keeping their Federal Firearms License than they are in being able to accept credit card or bank transfer.  (i.e., they currently seem to have more than enough business from customers at their retail locations and gun shows where sales are cash only).

But if this were to escalate to where banks start to outright refuse provide banking service to gun and ammo sellers then bitcoin could become a necessary component for survival of these businesses.
2283  Bitcoin / Bitcoin Discussion / Re: Will Ubuntu for smartphones explode Bitcoin? on: January 06, 2013, 06:39:04 PM
If you have a "stock" Android phone then the manufacturer can send you OS updates,

I'm not too familiar with mobile network infrastructure.  So that is LG sending an OTA update for my Virgin Wireless branded-O/S to my mobile, and not my mobile network provider (Virgin Wireless)? 

Those are things that did happen to e.g. Hewlett-Packard and probably many others.

Yup.  This isn't a problem just for mobiles either.  This same risk occurs with any updates where the user doesn't have 100% control.  Microsoft, for instance, has sent Windows Updates that install regardless of the setting that enables automatic updates.

All that is needed is one bad egg with access to slip in a few lines of code to cause widespread misery.  And there are lots of bad eggs:

We recently dismissed 16 employees for accepting bribes
2284  Other / Beginners & Help / Re: Satoshidice questions on: January 06, 2013, 05:43:34 PM
What would s.dice do if I double spend that coins ?

That's their magic sauce.  Well, it is not just them who are employing this technique now but they were the one that first introduced this particular method.

Each payout includes funds from the wager transaction.  So if the wager transaction never confirms, then neither will the payout.  This provides the ability for SatoshiDICE to send a payout on 0/unconfirmed and not have to worry about sending a payout with the risk that later the wager will end up being a double-spend.

There is one weakness with this in that if SatoshiDICE is revealing win/loss immediately, there is then a small chance to cheat then bydouble spending only the losing wagers.   This was evidenced in this thread:

Double Spend against a satoshidice loss

But SatoshiDICE made a change and now the chances of that tactic may no longer be a profitable method to cheat the service.   The change made was to treat wagers with no fee paid different, where it is not processed until the transaction gets one confirmation.

And how are s.dice sure that my sending transaction will get confirmations before their ?

Since they are linked, the payout will only confirm in the same block when the wager transaction confirms or in a subsequent block.
2285  Other / Beginners & Help / Re: Neteller and moneybookers on: January 06, 2013, 05:32:03 PM
Is there a service where you can use Neteller or Moneybookers to buy Bitcoins?

This is the same type of problem seen when trying to buy bitcoins using PayPal.  Because the transaction can be reversed after the sale, no exchanges and few individual sellers are willing to sell bitcoins in exchange for either Skrill/Moneybookers or Neteller.

If you have establish a trust history on the #bitcoin-otc marketplace you might find someone willing to trade with you.

Otherwise, if you have a Skrill/Moneybookers prepaid debit card you can withdraw cash at an ATM.  If you can find a cash trade, that's one way to use your Skrill/Moneybookers funds for buying bitcoins.  There are cash deposit methods in many countries:

In the U.S., you can deposit cash at any Chase branch for credit to your BitMe exchange account:

There are cash deposit methods available in about two dozen other countries including Canada (CA VirtEx), Australia (Spend Bitcoins), New Zealand (bitNZ), many in South Asia (ECurrencyZone), Russia (BTC-E, BitInstant), and a dozen countries that BitInstant now supports.

A local trade with cash might be your quickest path:

And of course, there are numerous bank transfer methods.  E.g., in the UK, through Pingit used at and also supports Faster Payments transfers in the UK.  Elsewhere in the EU there are numerous relatively inexpensive SEPA transfer methods.   

There are a number of options:
2286  Other / Beginners & Help / Re: IP tracking on: January 06, 2013, 04:42:33 PM
If a wallet is down except for a few hours each week to catch up the block chain, is the wallet's IP address associated with that wallet's  transactions?  Can others associate a wallet's receiving address with its IP address?

You are making a common misunderstanding of how Bitcoin works.

The Bitcoin client collect IP addresses and the Bitcoin blockchain doesn't store them.  From the data in the blockchain there is no way to associate a transaction to an IP address or to know which node is responsible for mining each block even.

This misunderstanding comes from the information collected and reported on the third-party service,  They have a backend that makes many connections (over 3K at present).  When a node that's backend is connected to is the first they know of to see a transaction then their service tags that transaction with that node's IP address.    But there are tens of thousands (or more) peer nodes on the Bitcoin network so very often this "first relayed by" node IP address information is inaccurate.  If your node does not accommodate incoming connections, then quite often the transactions your node makes will be reported on as having been "first relayed by" with some other IP address than your own.

This same IP monitoring is part of the approach that uses to try to determine which node (mining pool) is responsible for solving a block.  And that's why there is a sticky at the top of the mining forum board.  An excerpt from that sticky:

If they are connected to an especially fast and well connected relay they will falsely report it as being the 'source' of many blocks.  This doesn't mean that this relay is a big miner, or that they're attacking the network, or anything like that. An example of this is the Swiss node at but there have been a number of similar misattribution addresses in the past.

People freaking out over these misconceptions will now be shot.
2287  Other / Beginners & Help / Re: Cryptocurrency, The NWO Money System. on: January 06, 2013, 07:37:33 AM
I foresee this becoming a world currency, should it continue the way it is.

Would gold be considered a world currency?

The Occupy Movement is heavily involved in this as well, if that raises any alarms for you.

Well Occupy was generally not liking Bitcoin.  The NYC GA was accepting Bitcoin donations for a bit but there was no push to get behind it.  And there are others in the Occupy movement quite vocal against it:

Now I know some of you may be confused as to why I titled this as the NWO Currency.
Very, the NWO of legend would prefer something they could print at will, wouldn't they?

Exactly.  NWO power comes from a concentration of wealth and governance -- centralization.  Bitcoin is like kryptonite to them.
2288  Bitcoin / Bitcoin Discussion / Re: What is the greatest threat to Bitcoin? Some possible technical problem or gov? on: January 06, 2013, 07:08:32 AM
If is possible technical problem, what is this? I heard on Reddit and Facebook some worries about transfers/sec. Is it a real threat?

These aren't in any particular order:

2289  Economy / Service Discussion / Re: Bitmit is down? on: January 06, 2013, 06:59:16 AM
Can anyone confirm the status of

Problem acknowledged here:

server is temp down. i am working to get it back online

Without being able to communicate using the site itself, it would be nice if they would at least use Twitter to provide status.
2290  Other / Beginners & Help / Re: Satoshidice questions on: January 05, 2013, 07:12:41 PM
1. After the coins are sent, why it took so long ?

Normally when a wager transaction includes a fee and is not "spam-like", the payout -- win or lose, will occur nearly instantaneously.

Even "spam-like" transactions (e.g., no fee paid, or low amount, like below 0.01 BTC) that have a confirmation will likely get a payout once there is a confirmation.

Win or lose, you still get a payout transaction.

Your first transaction hasn't been processed nor paid out.  Numerous times in the past SatoshiDICE will have a problem and it will take a day or two to flush out these unprocessed transactions.  Your first transaction falls under that category.

SatoshiDICE has a minimum bet amount of 0.01 BTC on every wager now.  Both of your wagers were made for an amount below that.

Every SatoshiDICE transaction, since it started in April 2012 eventually gets a payout -- and that can be (and is) verified by a third party (doogius voluntarily does this and in the past has prodded SatoshiDICE if they overlook some and don't swing back and resolve every last one of them).

So, be patient I guess.  Your wager was an amount less than two pennies worth, so hopefully it being returned late won't cause you a financial hardship.

Your second wager was processed and returned (as it too was below the minimum).    The reason you might not have seen that right away is because SatoshiDICE sent the return without a fee (as it does when it returns these).  And because it was such a low amount, nodes probably didn't want to relay it because it was spam-like (low amount, no fee paid). So several hours later eventually some nodes relayed it and eventually a miner picked it up and included it in a block.

If you click on the "Advanced" page, you can enter the transaction numbers to see the details for each wager.   Your first one does not yet return anything because it has not been processed.  The second one shows the "BELOW MINIMUM".

So, to prevent this from happening in the future, keep in mind that every wager to SatoshiDICE now has a 0.01 BTC minimum, and always include a fee (which you did, but I'm just mentioning it so that it doesn't get overlooked.)

And eventually your first 0.001 BTC wager will be returned.   If it doesn't in another day or so, then maybe an inquiry to SatoshiDICE will be needed but generally these get taken care of without prodding.
2291  Other / Beginners & Help / Re: SatoshiDice bet was not sent to my mtgox address. on: January 05, 2013, 06:36:00 PM
MtGox (and any shared wallet actually) should do exactly what we did with Instawallet and forbid dice addresses as recipients.

I didn't realize Instawallet did that.  Thank you for protecting your users in this manner.

There are a ton of these now ... e.g., BitLotto, and several others. 

BitLotto's address changes once a month.  It would be a hassle to try to know the various services and their respective addresses which return to the address that the wager appears to have been sent from, but at least heading off attempts to send to SatoshiDICE covers the majority of those occurrences.
2292  Other / Beginners & Help / Re: Sending large amounts of bitcoins on: January 05, 2013, 04:25:56 AM
If you are sending coins to someone else, then it's up to you to determine how much you trust them with large amounts of money.

Yup.  If the party you are trading with isn't entirely trusted, then consider using an escrow, and other advice from here:

2293  Economy / Speculation / Re: Moving countries... need to exchange currencies... on: January 05, 2013, 04:17:42 AM
What do you think buying $20,000.00 worth of BTC would do to the market? Cheesy

Maybe push it $0.02 cents, at the moment:

Hover over the blue line (near the bottom) to see about $20K.   It is currently less than a penny above the bottom (spot) value.
2294  Economy / Gambling / Re: - The World's Most Popular Bitcoin Game on: January 05, 2013, 04:02:33 AM
I have around 150 bets that have Payment TX Status: UNKNOWN

Has the bet transaction confirmed?   If not, is it a child of a transaction that also has not confirmed? 

If that is the case, those are likely being ignored until they have a confirmation, which was a change that was implemented late December following some transactions that were essentially disrupting the system.  If that is the case, place your wagers with the Bitcoin-Qt client which will not allow you to spend funds that don't have at least one confirmation.
2295  Bitcoin / Bitcoin Discussion / Re: Will Ubuntu for smartphones explode Bitcoin? on: January 05, 2013, 03:41:05 AM
I see no reason why this would affect Bitcoin in any way.

Presuming the Ubuntu solution would be 100% open source, then I think it would have an impact. 

Right now, I don't feel comfortable that my Android device cannot be controlled to either monitor or manipulate my usage.  Does someone from my mobile provider (or Google) pushing the next Android update have the ability to inject a few lines of code to read the BitcoinSpinner key and upload it?   Maybe they already have it, how would we know?

With 100% open source, a rogue section of code like that would likely get caught somewhere.
2296  Bitcoin / Bitcoin Discussion / Re: Bitcoin Gambling Expansion? on: January 05, 2013, 02:33:23 AM
I do think this will ultimately lead to an increased USD/BTC price overall (obviously not immediately). Thoughts?

Those that are breaking even or winning aren't necessarily all in a rush to cash out their coins.  So after playing, those funds remain in bitcoin instead of at the exchanges looking for buyers.  This creates a fantastic opportunity for bitcoin as now the currency is distributed wider and merchants others than just those who offer more than Anonymous VPN and GPU cards will start to see more bitcoin-related commerce.

Also, for those who have won big generally bet big, meaning they might be interested in buying the higher end goods and services that bitcoin has not yet seen much demand (e.g., travel-related like perhaps hotel, and airfare) or the funds might start being used to speculate and invest (in options, futures or forex -- all of which now can be funded using bitcoins).

What none of these articles mentioned is how the many of the winnings are likely not going to be reported as income for tax purposes.  So not only are some of these Bitcoin online wagering services offer something not available in Vegas or nearly anywhere else ("provable fair") and not only do they offer higher odds of winning (house edge with SatoshiDICE is less than 2%, whereas Vegas is four percent, and sometimes 8% even -- they offer user-definable anonymity for the payouts.

The casino gaming and online gaming industry is so large that even if the bitcoin-based wagering only captured a tiny fraction of that it would provide some decent lift in the bitcoin exchange rate.
2297  Bitcoin / Bitcoin Discussion / Re: Bitcoin Gambling Expansion? on: January 05, 2013, 02:00:41 AM
Another thread on the article in the Press board:

2013-01-03 - Bitcoin: Making Online Gambling Legal in the U.S.?

And the two other echo chamber articles:
 - (the Ars Technical article mentioned in this thread.)
 - (
2298  Economy / Service Announcements / Re: BTC Buy - mobile phone site on: January 04, 2013, 08:57:38 PM
Hi folks,

We at BTC Buy are now offering access using a mobile site at

Site is optimized for use on the cellphones. If you have a mobile bitcoin client installed (such as blockchain), you can pay by clicking on bitcoin: link at the end of the ordering process. Hope that simplifies the matters

Awesome.  I know to keep it simple, you exclude the non-essentials.  But could the be an option to paste a GPG key for receiving the e-mails (which contain the refill card's PIN number)?
2299  Economy / Securities / Re: realy curious about something on: January 04, 2013, 06:51:37 PM
whereas if you just held onto the BTC you could possibly double it - tomorrow even (in theory)

Bitcoin mining was at one time a "safer" way to invest in bitcoin.   Your purchase of a mining rig would still have value no matter what direction the future Bitcoin exchange rate goes.  

If the exchange rate goes up:  Of course, you would have been better off buying BTCs in that scenario but at least you didn't lose anything.
If the exchange rate stays about the same: You get both the bitcoins mined and retain the resale value of the hardware at the end.
If the exchange rate drops though, you win big (compared to the investor that bought BTCs): You get the full resale value of the hardware, you get the coins you've mined, and you get a lower difficulty, presumably, as marginal miners drop out.

Another type of investment in mining is a mining bond -- a purchase of shares where you only earn the right to the proceeds of the hashes.  This also would pay off if difficulty were to either drop or to not increase much over a period of time.   For the mining operators who raised funds through investment and used those proceeds to buy ASIC hardware, it is yet to be seen how well that turned out.   Another reason investment in mining is a way to put in coins from one source and getting an amount of coins back, gradually over time -- like a combination mixing service with the potential to profit rather than a guaranteed loss using a fee-based mixing service.

Now with FPGAs and ASICs, your used hardware has limited resale value.  FPGAs had the benefit though of being much more efficient than the technology they are a substitute for (GPUs).   And ASICs have the benefit of being cheaper and being much more efficient than the technology they are a substitute for (FPGAs and GPUs).

So the whole strategy of mining and investments in mining is different going forward than how it looked just six or eight months ago.

if you buy a shit load of gold/silver it might not be safe keeping it at home

Also, each time you buy physical you pay a little over spot, and each time you sell you generally get less than spot.    When holding paper, conversion costs are pretty minimal., for instance, charges 1% to 2.5% over spot (depending on the amount purchase), but lets you cash out at spot.  They also have a small storage fee/

2300  Other / Beginners & Help / Re: (Resolved) Bitcoin/Bitinstant/Zipzap discrepancy in deposits on: January 04, 2013, 01:29:24 PM
I suppose the only cheaper way would be to use and a cash deposit at Chase Bank.  

It can fluctuate.  Lately they've been getting a decent supply of coins so like right now you could buy close to $1,000 worth of coins and not pay much over what you pay at Mt. Gox ($13.50).   When there are aggressive larger buyers, the liquidity isn't that great and it can jump to 6% or more over spot.

Do you know if they require ID to make the deposit?

Nope.  Just deposit cash into the account number provided -- the exact amount from the deposit slip though.

What is the turnaround time there?

I'm remembering something to the effect of hours [max, if deposited early in the day], to following morning.  I don't see much in the way of complaints waiting on funds to be credited, except where the person deposited the wrong amount.
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