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381  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.
382  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.



Quote
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.

Quote
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.

Quote
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.
383  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.:
 - http://www.mutualwealth.com

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.
384  Economy / Goods / Re: WTB: Small Plane (Cessna, Piper, etc) on: October 22, 2013, 09:19:16 PM


 - http://www.bitpremier.com/items/view/26
385  Bitcoin / Bitcoin Discussion / Re: List of all Bitcoin conferences around the world on: October 22, 2013, 06:27:46 PM
Pan-Nordic Bitcoin Conference 2013
Thursday, November 28, 2013
Charlottehaven Konference center
Hjørringgade 12C, DK-2100 København Ø

 - http://www.cryptocoinsnews.com/2013/10/14/pan-nordic-bitcoin-conference-2013/
386  Bitcoin / Bitcoin Discussion / Re: List of all Bitcoin conferences around the world on: October 22, 2013, 06:27:32 PM
Bitcoin – Challenging the fiat money system or catalyzing economic development?
at Stockholm School of Economics

Friday, October 25, 2013
Stockholm, Sweden
 - http://sse2013-bitcoin.eventbrite.com/
387  Local / Skandinavisk / Re: Scandinavian Bitcoin conferences? on: October 22, 2013, 06:26:40 PM
Friday, October 25, 2013
Stockholm
 - http://sse2013-bitcoin.eventbrite.com/

Thursday, November 28, 2013
Charlottehaven Konference center
Hjørringgade 12C, DK-2100 København Ø
 - http://www.cryptocoinsnews.com/2013/10/14/pan-nordic-bitcoin-conference-2013/
388  Economy / Collectibles / Re: New Bitcoin Specie by the makers of New Liberty Dollar on: October 19, 2013, 10:53:00 PM
If Bitcoin rises in value vis-a-vis silver sufficiently, these premiums may be reduced downward.

The 0.05 BTC premium is now an amount worth more than $8.
389  Bitcoin / Press / Re: 2013-08-17 Coindesk.com - Bitcoin Law: What US businesses need to know on: October 18, 2013, 05:53:48 AM
Part 2 is out as well.

Part 2:

Bitcoin Law: Money transmission on the state level in the US
 - http://www.coindesk.com/bitcoin-law-money-transmission-state-level-us/
390  Alternate cryptocurrencies / Altcoin Discussion / Re: What would happen if ASIC on Scrypt chain? on: October 14, 2013, 10:14:20 AM
What if the ASIC found the solution, and then passed that solution on to the video card so that the video card can generate that necessary proof of work?  In other words, couldn't they be made to work in tandem?

An ASIC does ONLY what the electronic paths in the silicon allow it to do.  SHA256 hashing is what the ASIC in an ASIC miner does.   If even one tiny little change to the computation is needed, that ASIC design is useless.   Scrypt is way different from SHA256.  There is no computation from any ASIC miner hardware that is even remotely useful in performing a Scrypt hash.
391  Bitcoin / Bitcoin Discussion / Re: Removing old coin uncertainty on: October 14, 2013, 09:59:44 AM
Every market thrives on information.  I would argue that large uncertainty about the amount of lost coins is hurting bitcoin adoption, especially its use as a store of value.

Is that really what your concern is?   Or is this the back-door you are looking at into allowing demurrage to get a foot in the door? (You wouldn't be the first).
392  Bitcoin / Mining / Re: How did BitCoin start on a technical prospective on: October 13, 2013, 10:57:22 PM
But how did it start? I mean back when noone had a bitcoin or a fraction of it.. how did the frist miners mine.. what was the "job" that was assigned to them? since there could not be a blockchain of transactions since no transaction occured at the very beginning of bitcoins...

Ya, the blockchain concept is a little foreign and takes a while to understand.

The "work" performed in mining is to compile a block that contains the coinbase transaction as well as ZERO or more additional transactions, and then perform a hash of the block such that the numeric value of the output of that hash is below some target "difficulty" value.

So there didn't need to be any additional transactions to build a block, other than the coinbase transaction.  Even today there are blocks mined occasionally with zero additional transactions in them (other than the coinbase transaction itself), simply because whoever mined it didn't include any.  That's perfectly valid, just not economically smart since there were likely fees from other transactions that were passed up.

Here's the first block
 - http://blockexplorer.com/block/000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f

Click on Next block .... it goes until block 170 without any transactions:
 - http://blockexplorer.com/block/00000000d1145790a8694403d4063f323d499e655c83426834d4ce2f8dd4a2ee

393  Bitcoin / Bitcoin Discussion / Re: Bitcoin is way behind at mobile payments on: October 13, 2013, 06:33:33 PM
Why can't I do this with bitcoin?

Well, today using a third party service I can send Bitcoin to anyone else knowing just that person's mobile phone number or e-mail address (using Coinapult, or Coinbase), or that person's Twitter (using @BTCTip bot), or that person's Reddit username (using BitcoinTip bot), etc.

A problem exists with spoofing though.   I can write the message:

Quote
Seth is hosting an all-you-can-drink beer meetup for 0.1 BTC.  To join, send him payment at: 1PC9aZC4hNX2rmmrt7uHTfYAS3hRbph4UN

And the problem is, .... you did not make this offer, and ... that address isn't even your Bitcoin address.   With Simple's P2P system such fraudulent activity is reversible and thus there is less chance that the scammer will profit, so there is very little attempts at such type of fraud.    If those transfers of funds were non-reversible their P2P payments system would become a cesspool with spoofed profiles and fake offers, essentially rendering it unusable and giving a black eye to Simple.

Now with the payment protocol coming in Bitcoin-Qt/bitcoind v0.9, verifying such a request as being authentic will be easier.

Additionally, I am cautious about using an app without there being two-factor authentication.  But if my mobile is my 2FA device and the app needing the 2FA code is on the same mobile, then 2FA really isn't giving me much additional security.  Right now, my only remedy for such a problem is to only hold in that E-wallet app as much money as I'm willing to lose should my device become compromised.   (In a similar manner as how I don't generally carry more than a certain amount of cash in my physical wallet in my back pocket either.)

These probably aren't the reasons a Bitcoin-based equivalent to Simple's Money Drop isn't already available, just that improvements to security will help make it so that such an app can actually be built and be useful.
394  Bitcoin / Bitcoin Technical Support / Re: Bitcoin lost after 120 confirmations on: October 13, 2013, 04:55:16 AM
They never showed up in the recipient address..what gives?

Well, the confirmations provide proof that the funds were delivered to that Bitcoin address.  So if that E-Wallet hasn't given you credit you'll need to contact them to see why your account wasn't credited.
395  Bitcoin / Bitcoin Technical Support / Re: Bitcoin lost after 120 confirmations on: October 13, 2013, 02:56:49 AM
it also looksl ike it automatically sent it to the above address in the link below..but I never authorized that.

Just to make sure you aren't misunderstanding ... is this with a local client (such as Bitcoin-Qt/bitcoind, or is it with a hosted (shared) E-Wallet (such as an exchange account like you get with MT. Gox)?

With an E-Wallet, that service simply credits your account with any deposits made to that Bitcoin address.  But once that happens the blockchain can show those coins moving elsewhere but that won't affect your E-Wallet balance.

So to get a better answer to your question, please share more info, such as what client or service you are using.
396  Bitcoin / Legal / Re: List of court cases, complaints, regulatory actions, etc. on: October 11, 2013, 04:23:13 PM
Coinlab, Inc v. Mt. Gox KK et al
May 2, 2013
Location: Washington (U.S. District Court, Western Washington)

Abstract: COMPLAINT against defendant(s) Mt. Gox KK, Tibanne KKC filed by Coinlab, Inc.

Update: PLAINTIFF’S ANSWER TO COUNTERCLAIM

 - http://thegenesisblock.com/wp-content/uploads/2013/10/CoinLab-Response-10-04-13.pdf
 - http://thegenesisblock.com/coinlab-files-response-mt-gox-lawsuit/
397  Bitcoin / Bitcoin Discussion / Re: How to use fiat currencies for Bitcoin offline transactions? on: October 09, 2013, 11:04:03 PM
Finally, for the system to work, everyone must agree that those BTC bills really hold the BTC value.  But you can count on me:  I would agree! Why not?

Why not?   Because, the bitcoins cannot be spent electronically.    They then lose some their value.  At a minimum, these coins lose fungability.

Now what I could see happening is an "issuer" making these fiat into "colored notes" [Edit: in the same vein as how a bitcoin output can be dual-purposed to represent a share of an equity].  Each note can be redeemed for bitcoins, on demand.

So simply needed is some way to verify the XBT value of the note, using the note's serial number.  

This still requires that you trust the issuer, but if the issuer is honest there is little the government can do to confiscate funds from either the issuer or from the bearer except at the exchange points.
398  Alternate cryptocurrencies / Altcoin Discussion / Re: List of exchanges on: October 09, 2013, 10:31:22 PM
Can you tell me what XLT is?

Doh!   That's me not checking my work!

The ISO currency naming uses an X prefix for currencies that do not have a government issuer.  Thus gold (Au), is XAU.   It has been proposed to that ISO group to use XBT for Bitcoin.    I thought I had seen XLT at Kraken but I hadn't.   They are (properly) using LTC as the symbol yet.


Please list more exchanges and If possible make this thread sticky,it would be helpful for new users.

More for the list:
 - https://www.fxbtc.com
 - https://www.therocktrading.com/en/exchange/currency
 - https://coinedup.com
399  Bitcoin / Project Development / Re: #BitcoinAfrica -- your help required! on: October 09, 2013, 07:43:02 PM
Stephen, my understanding is that Borja will carry BTC and exchange them for local currency in each country,

Ah, so it looks like the OP could use an edit?

who would like to exchange bitcoins to cash in each country.

[emphasis mine]
400  Economy / Speculation / Re: Which is LEADING: Bitstamp or Gox? on: October 09, 2013, 04:39:17 PM
Leading =/= being the closest to gox  Huh

Pardon me for being ignorant here, but maybe I'm not the only one.  In what context is "=/=" used?       If it was to mean "roughly equal" I'ld have expected to see (~=).   If it was "not equal" then I'ld expect "!=" or "<>".     But "=/=" isn't intuitive to me.

Which exchange sets the price that the other one  will catch up with?

You presume prices always equilibrate?   That will not always happen.  And it has little to do with trading volume.   Instead, various differences between exchanges are reflected in the price.    If there was zero friction between moving funds to and from exchanges, the prices would be the same.   As long as there are differences, the cost (or savings) of those differences are reflected in the exchange rate.

Now a spike or drop in volume (or urgency) may cause the degree of difference between the exchanges to grow or shrink over time but generally the exchange rate will move up or down at roughly the same level between the exchanges.

As far as determining a single "current market price" for bitcoin, currently Mt. Gox must be seen as an outlier but those bids are real so it cannot be entirely dismissed.   If you notice, both Coindesk's Bitcoin Price Indicator (BPI) and BItPay's exchange rate -- each computed with slightly different approaches yet seem to always land within about 1% of each other:
 - http://www.coindesk.com/price/
 - https://bitpay.com/bitcoin-exchange-rates
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