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321  Bitcoin / Press / Re: 2013-11-01 Bloomberg: How Ripple Plans to Take on Bitcoin on: November 03, 2013, 11:26:10 PM
Anyone who trusts their silly tokens gets what they deserve.

It's like a broken record in here.  Sheesh.

I'm not saying buy Ripple XRPs.   Personally, I don't care if an XRP is worth $0.000001 each or $2,000 each.    I really don't.    And that's because I never hold any XRPs (except for the few needed for the fee, so yes -- I guess a higher valued XRP is bad, for me).  But I still can use Ripple.

What I care about is moving fiat funds from one exchange to another.    Ever since exchanges stopped offering "redeemable codes", etc, then Ripple is the last method remaining that offers a way for me to do that.

And until there's a better solution, Ripple gets my patronage.  
322  Bitcoin / Meetups / Re: Meetup near OC? on: November 03, 2013, 06:27:52 PM
I'm probably going to start organizing meet ups in Orange County. We need to get something crackin' here.

Make sure to cross-post to the San Diego meetups (there are two groups, the weekly Talk N' Trade group, and the monthly San Diego Bitcoin meetup group).   Each of those have members who take the run south from OC.

What might be a way to get something started is simply a BitMob ..., where you agree to meet up for a meal and/or drinks at some place with the aim to help convince them to begin accepting bitcoin.    The San Diego group just did this at the Hillcrest farmers market with some success.

Another resource available might be BitPay, since their VP Sales is based out of L.A., perhaps she would attend a meetup and perhaps help by getting BitPay to sponsor it.  It's worth a try.
323  Bitcoin / Press / Re: 2013-11-01 Bloomberg: How Ripple Plans to Take on Bitcoin on: November 03, 2013, 03:07:01 PM

How does that affect me one iota if I am just using Ripple to move my CNY from BitcoinCN into USD at Bitstamp?

Well don't you need XRP's to do that? So basically what happens is that the currency needed to use Ripple is mainly in the hands of it's developers and everyone else has to pay bigger and bigger amounts for it, eventually making the developers mega-billionares. No thanks.

I don't personally need XRPs to do that, but Ripple will cause them to be used when it executes both sides of the transaction.  Do I care if some small amount of XRPs used in the transaction causes a tiny increase in value for those holding XRPs?   Nope, .... what I care about is the ability and cost for me to move CNY at BitcoinCN into USD at Bitstamp.    And until some other solution to this problem arises (i.e., don't expect Dwolla, OKPay or Liberty Reserve to become widely uses), Ripple provides the best solution that is in operation today.
324  Bitcoin / Press / Re: 2013-11-01 Bloomberg: How Ripple Plans to Take on Bitcoin on: November 03, 2013, 02:37:10 PM
-Most of the XRP's being held by the developers

How does that affect me one iota if I am just using Ripple to move my CNY from BitcoinCN into USD at Bitstamp?
325  Bitcoin / Development & Technical Discussion / Re: Crazy idea: a new currency "backed by" bitcoin on: November 03, 2013, 01:26:01 PM
The idea is: a new currency which is backed by bitcoin.

Essentially, a Casascius physical coin is a different currency, backed by a bitcoin denomination.  But you need to trust that Casascius didn't keep a copy of the key and that the physical coin has never been compromised (exposed) to an attacker.

But if you have a party providing the backing / guarantee, then you become an issuer.  And an issuer must follow the laws (e.g., being a licensed money transmitter) otherwise the regulators will come down.   The way Bitcoin enables this is by having the issuer / centralized authority be the result of the proof-of-work algorithm.

But if your list of requirements includes instant transactions, then you can't have a consensus-based mechanism.  

So, likley what you are looking to do likely exists with either Open Transactions, or Ripple -- though Ripple isn't "instant" either if your payments need the guarantee of being non-reversible (fast, if you consider a few seconds fast, and you discount the risk that RippleLabs, the operator of the verifiers, will reverse the transaction.)
326  Bitcoin / Legal / Re: List of court cases, complaints, regulatory actions, etc. on: November 03, 2013, 12:20:53 PM
Bitcoins confiscated and arrests made by Dutch authorities
October 24, 2013
Location: Netherlands

Abstract: Four men from Alkmaar, Haarlem, Woubrugge and Roden were arrested, suspected of involvement in large-scale, digital fraud and (1M EUR) money laundering case [TorRAT malware].

Hackers plunder back accounts

Dutch TorRAT Threat Actors Arrested

Malware gang steals $1.4m and sets up bitcoin exchange to launder it
327  Economy / Marketplace / Re: New Fast Bitcoin Exchange in the Netherlands on: November 03, 2013, 12:12:36 PM
Malware gang steals $1.4m and sets up bitcoin exchange to launder it
328  Bitcoin / Press / Re: 2013-11-01 Bloomberg: How Ripple Plans to Take on Bitcoin on: November 03, 2013, 05:36:30 AM
bitcoin without ripple: ...what the fuck is ripple?

It sure is nice to be able to move funds from one exchange to another using Ripple.  This lets me perform arbitrage.    

For instance, let's say the XBT/CNY market is overpriced.  Ripple might have a path where I can move CNYs at one exchange (e.g., RippleCN) into USDs at another exchange (e.g., Bitstamp) without much of a cost.

This benefits Bitcoin as it helps to keeps markets efficient.  As a result of my transaction, Ripple gave me incentive to bring my bitcoins to the XBT/CNY market where supply was tight, and because of Ripple I could absorb some of the supply at Bitstamp by buying "cheap" bitcoins from their XBT/USD market.

I fail to understand why such a useful tool gets so much hate around here.
329  Bitcoin / Meetups / Re: International Bitcoin Conference 2013, Amsterdam, Netherlands november 6th - 8th on: November 02, 2013, 11:14:32 PM
I see the site currently shows:

We decided to cancel the conference.
330  Economy / Service Discussion / Re: safety concerns on: October 31, 2013, 07:03:49 PM
For example, I notice they are loading external Javascript files from Googles servers.. Isn't external Javascript a very very bad thing to do on such a site?

I had been using to monitor the site and then manually verify and post an OK on the BitAddress forum thread.   Sure, that's not foolproof since if the site were compromised and spits out a compromised page let's say for 1 out of 10 requests, the chances are very low I'ld know for some time (i.e., a 10% chance of detecting it, 90% chance the attacker would get away with it -- for at least one day.)

Here are the steps I follow:
331  Bitcoin / Project Development / Re: Encrypted Paper Wallet on: October 31, 2013, 06:37:44 PM
Any update on this project? I'm looking for something like this!

Now BitAddress, as of v2.5.1, has BIP38 Encryption (click Advanced, from Paper Wallet):
332  Bitcoin / Mycelium / Re: Mycelium Bitcoin Wallet on: October 31, 2013, 06:19:08 PM
Now that BitAddress supports BIP38 encrypted wallets, would you consider adding support for this in the cold storage spend feature?
333  Bitcoin / Bitcoin Discussion / Re: How Can You Get the Company You Work for to Start Investing in Bitcoin? on: October 31, 2013, 04:32:37 PM
Send this to everyone you can in the company, and ask them to forward it:

The employers of tomorrow are those small startups who are today figuring out how to use Bitcoin as a competitive advantage.  Maybe that would be a better use of your time?
334  Bitcoin / Project Development / Re: ICBIT Derivatives Market (USD/BTC futures trading) - LIVE on: October 31, 2013, 03:46:24 PM
My question is: does ICBIT charge clearing fee every day? How often the clearing occurs?
I sold only 1 contract, so the fee I was charged is only 0.0001.
In case if I sell 100 contracts, will I be charged 0.01 every day?

Clearings happen at 20:00 GMT and 08:00 GMT,

So, X2.

 .... your 100 contracts cost $0.02 per day  (100 contracts X 0.0001 BTC X 2 clearings per day).

That is specific to BUX3.  Other BTC/USD contracts for durations further out don't have that daily clearing.  Also, some larger traders have enough volume to get a discount on that fee (both clearing fee and per-contract trx fee).
335  Other / Off-topic / Re: Bitcoin TOP-500 Richest on: October 31, 2013, 02:17:46 AM
The list is intended to help the people in question to identify themselves as Bitcoin powercenters,

Incidentally, this will likely get you unwanted attention.  I'm nowhere near even being in "Vladimir's club" so won't appear on this list but even I have received extortion threats demanding bitcoins.
336  Bitcoin / Meetups / Re: Ljubljana (Slovenia) meetup on: October 29, 2013, 02:22:40 PM

Time: Tuesday, October 29, 2013 at 6:00 PM

Location: Kiberpipa, Slovenska 47, 1000 Ljubljana

I believe I had read that the talks will be in the MediaTek area?  If so,

Enter either on Slovenska cesta or Gosposvetska cesta and the entrance to the Otto Zupancic library is in the back corner.  After entering the library, take the stairway down which leads to the MediaTek meeting area.
337  Bitcoin / Bitcoin Discussion / Re: Law Enforcement Attending Bitcoin Meetups Undercover? on: October 26, 2013, 03:53:29 AM
The paranoia is strong with this one.

Just because you're paranoid doesn't mean they aren't after you.
 - Joseph Heller

Seriously though...., don't dismiss this as a risk.   If in a couple years Bitcoin rises 50x from its current value, just like it did in that past couple years, the response by the State will likely be to round up those responsible.  And the surveillance they do now just helps them justify their case.    Did a trade on LocalBitcoins?    That might be enough to hold a person for a few weeks on suspicion of operating as a money transmitter without a license.      How would "they" prove it"?   Well, LocalBitcoins sends confirmation of each trade, in clear text, to your e-mail.   Hinted that you might like to light up?   Well, even if ten thousand people just like you in your part of town do the same thing what if you happened to be the one that got the knock on the door?    Coincidence?   Nope!

We know the the tools necessary  (Tor, GPG, mixers, shared send, etc.) but we (or most of us, myself included) don't use them.

We are doing nothing to prepare for the day they go on the offensive with regard to Bitcoin.
338  Bitcoin / Press / Re: 2013-10-22 WSJ: Bitcoin Poses a Challenge for Law Enforcement on: October 23, 2013, 06:02:39 PM
A few inaccuracies ...

The virtual currency is essentially encrypted computer code that is accepted as a form of payment among users,

The reporters confuse how the private keys in a client's wallet can be protected with encryption and extend that concept to applying to Bitcoin transactions as well, which is incorrect.  There is no encryption in the Bitcoin protocol.

The diagram accompanying the article had errors as well.  In fact, its ratio of errors to things it got right might be in record territory.

1.) Mr. A sends Mr. B an Internet address where payment is to be sent.
The use of "internet address" is ambiguous at best as that term is generally used to refer to an IP address.   The Bitcoin protocol does not include IP address in any transactions.

3.) Upon receiving the address, Mr. B sends a bitcoin attached with his wallet's private key, used to verify transactions.
It is difficult to describe in one sentence, for sure, but the error here is that no private key is attached.

4.) The block chain confirms, processes, encrypts the transaction, posts it and deposits the payment in Mr. A's wallet.
Ummm ... ya.   Bitcoin can be hard to describe, but that was painful to read.
339  Economy / Economics / Re: Real commodities bought and sold for bitcoins on: October 23, 2013, 12:09:32 AM
I'm interested in how far we are from trading real world commodities with a physical settlement.
Something that a factory or a plant can use to pay in bitcoins for a settlement of the crude oil or aluminum, for example.
Is there any kind of the platform that is going to handle such trades under development at this moment?

ICBit did have Gold and Crude (WTI) "futures contracts" (which differ somewhat from what the industry refers to as futures contracts) that were priced and settled in bitcoins.  They didn't get much interest -- especially with the bitcoin exchange rates being so volatile at the time.   However, ICBit says gold and/or crude contracts may be returning.

As far as brokerages taking Bitcoin as a method for depositing of funds, that's already happening -- at least outside the U.S.:

It would seem natural that more brokerages would accept bitcoin as it is non-reversible and has faster settlement than bank wire transfer, for instance.   However for the same reason these brokerages don't accept cash, they likely will not be chomping at the bit to start accepting Bitcoin either.   But when traders start to favor brokerages that use Bitcoin because of how easy it is to add funds and pull funds out, expect brokerages to have to add Bitcoin simply to remain competitive.
340  Economy / Goods / Re: WTB: Small Plane (Cessna, Piper, etc) on: October 22, 2013, 09:19:16 PM

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