I created a thread to serve as an exchange available to those with BTCs that are still "on hold" following the security breach earlier this month. That thread can be used to list offers to sell and for potential buyers to express their interest as well. Recently there was a sale of BTC debt owed by BitFloor, Inc. to one of its accountholders whose bitcoins are being held by the exchange and thus not available for withdrawal.
This thread is for others with BTCs on hold at BitFloor to list their offers and for buyers to express their interest.
Here was the previous sale.
[...]
- http://bitcointalk.org/index.php?topic=113547.0 |
|
|
|
Does OKPay accept now credit cards? I haven't found info on its site.
Sorry, no they don't anymore. I edited that post. you might consider OKPay. [Edit: Oops, they no longer accept credit card.]
|
|
|
|
What you think about?
There are various methods to succeed at double spending that do not require the immense amount of resources that a 51% attack would require. An individual user can attempt a race attack. Or a solo mining operator or a mining pool can try a Finney attack. - http://en.bitcoin.it/wiki/Double-spendingBut there's nothing stopping the broadcasting of invalid transactions that attempt to double spend. There is a chance this happen accidentally (e.g., having two copies of a wallet and spending from the second copy before the blockchain has finished downloading where it didn't know the coins were already spent). More likely when these transactions occur it is from fraudulent attempts to double spend. There have even been legitimate attempts to optimize "coin management" by services like SatoshiDICE that have gone bad and spewed many invalid double spend transactions to the network. |
|
|
|
If MtGox can't even keep a bank account open in the UK, what makes you think GLBSE will be able to get any kind of approval on business licensing for a commodities exchange that sells shares in virtual currency?
Well, for one, money transmitter and aml regulations are not the same thing as securities regulations. For another, Mt. Gox didn't share why Barclay's suspended their account. Barclay's is a private bank, and if they wish to tell Mt. Gox to go elsewhere, that is certainly within their purview. You can't assume that a bank action has to do with some regulation. |
|
|
|
A couple of questions, which is the best/more most preferred/securest way to keep/store your bitcoins? The level of security necessary should be proportionate to your risk. A hybrid wallet like Blockchain.info/wallet might be fine for an amount that you might be willing to carry in your back pocket or so, but the use of Blockchain.info/wallet still depends on you maintaining a secure system. So for that reason, you would want to limit the amount of funds keps with an EWallet which, by definition, requires you to access it over the network. For any higher amounts you then should be consider the risks. If you are like most people you could be using a system that is compromised and wouldn't know that every keystroke is being logged. For this reason, storing larger amounts of funds on a local wallet might not be a good idea. For protection against that, an air gapped system is one approach. Using a paper wallet, generated after booting to a LiveOS from the air-gapped machine is among the most secure methods. In the not too distant future, multi-signature will improve wallet security significantly and make it easier to store funds locally. If you wish for the convenience of an EWallet, a service with two-factor authentication will protect you against a replay account if your computer were to be compromised. Here's a survey of EWallet accounts and their security: - http://bitcoin.stackexchange.com/a/4114/153 |
|
|
|
How can selling or writing a put option loose money in a rising market? Do you mean those who bought a put option in a rising market lost money?
Heh, yes -- that's what I meant. I might need to go back to reading the beginner's guide  : Using MPOE - A beginner's guide. - http://bitcointalk.org/index.php?topic=67302.0 |
|
|
|
The adoption lifecycle applies to almost everything from Memes to technology to business ideas even Bitcoin. Related: Bitcoin and Hype Cycle - http://bitcointalk.org/index.php?topic=53068.0The Startup Curve - http://bitcointalk.org/index.php?topic=69039.0we need at least 15% early adopters to achieve the necessary momentum to trigger a tipping point. 15% of the global population is not needed to reach "the tipping point". The big question is why adopt Bitcoin if the majority of benefit (50% of easy money) has already been distributed? The "easy money" wasn't so easy at the time. Mining is not guaranteed -- and there really isn't that much seignorage. A miner today pays seventy cents (in electricity and amortized hardware costs) to earn a dollar's worth of bitcoins (not including the time to administer the operation). Also, there are no guarantees. A lot of people who bought at $16, $22, or $33 probably would disagree with you about their stash being easy money. Now the big difference between those who have bitcoin wealth today and those who have banking system wealth is that the banking system continues to suck the blood from the system thanks to the corporatacracy that exists. Since there is no competition by the free market, the parasitic system continues to feed off us. With bitcoin, those who held bitcoin assets just have assets. Once those assets are spent they must be earned. And because so far there is relatively little regulatory intervention, there is no advantage given to incumbents. So the fat don't get fatter. So if the "it's not fair" argument is what you are struggling with, there's no better chance at arriving at a system free from unfair advantages than what Bitcoin offers. |
|
|
|
I contacted them via the form and their support email address.
You could also try IRC. Lurk and ping periodically if you don't get a response right away. IRC: irc.bitinstant.com #bitinstant channel |
|
|
|
If if turns out this address really belongs to bit-pay, I would like to see them to do the same thing. But I'm not sure if it's bit-pay.
You could ask them. Just sayin'. |
|
|
|
|
Just an update .. another weekend dip decision, but there is probably NO green light.
I say probably because it comes down the the exact timing. Last Thursday the high was $12.66, which is below last Wednesday's $12.68666.
Technically, there could be a green light. As of now the high for the last 7-day period was lower than the high for the 7-day period prior to that. But the difference is less than two pennies.
And right now the exchange rate is in an uptrend by a few percent, from just under $12. So I can't say there is an apparent week-to-week downtrend, which is when the "weekend dip" green light would show on. So this weekend isn't one that I'll be selling into, hoping to buy back at a lower rate.
Also, tomorrow is the last Friday of the month, which possibly will start becoming important. MPEx appears to have sold over a hundred thousand option contracts, and they expire tomorrow. When the month closes at or near its high (e.g., when the month ends in rally mode), those who sold [Edit: bought] PUTs generally lost money. So they may be motivated to buy more BTCs to be able to open new PUT (short) positions. The option contract holders that might have made money are those holding CALL options. That is a long position, and those holding them then are generally going to be bulls (i.e. unlikely to be dumping their BTC profits earned and trading them for USDs.)
MPEx option volume was much higher than last month's volume and last month was by far a record in terms of option volume as well. That means this is a monthly event that is new and speculators might not already be considering its impact.
|
|
|
|
...the SEC investigation will no doubt lower the value of Bitcoins and possibly scare investors away from the currency altogether.
no doubt eh? If only predicting the market were as simple as this guy assumes. There was an article or maybe it was the BBC broadcast, I forget, with the statement that the BitFloor hack might be the reason there was some confidence lost and the reason the exchange rate took a tumble. Had to chuckle, because this is the exchange rate since the BitFloor hack:  - http://bitcoincharts.com/charts/mtgoxUSD#rg60zczsg2012-09-01zeg2012-09-28ztgSzm1g10zm2g25 |
|
|
|
Conclusion: If you're gonna buy or sell big, best do so at low volume hours? (Fewer traders will be online, and able to react?)
If I'm trying to buy a ton, the asks in the order book might be a little thin. I might want there to be sellers around to see the price rise and send more of their coins to the exchange for sale. If I had moved rapidly or in one fell swoop, I might have overpaid. But this is good to see a visual of how the cycle is so consistent. |
|
|
|
What are peoples feelings on this,
Do you think the incidences of DDoS attacks on one or more exchanges, the forum, the wiki, payment processors (e.g., BitPay), mining pools, etc., just as a rally seems to be building are all complete coincidences? |
|
|
|
Similar offers to buy or sell the "On Hold" debt, or relevant discussion, can be made below.
WTS 31 BTC debt owed by Bitfloor, Inc. Asking Price: 21.7 BTC (70% of face value) The debt purchase agreement presented previously will be used, with the exception that it will be me being the seller. - http://bitcointalk.org/index.php?topic=111918.msg1210567#msg1210567 |
|
|
|
Recently there was a sale of BTC debt owed by BitFloor, Inc. to one of its accountholders whose bitcoins are being held by the exchange and thus not available for withdrawal. This thread is for others with BTCs on hold at BitFloor to list their offers and for buyers to express their interest. Here was the previous sale. Tangible Cryptography LLC is looking to sell 200.00 BTC (two hundred bitcoins) of debt owed by Bitfloor Inc. While we believe Roman will repay creditors in time, due to our capital needs we are wiilling to sell at a discount to improve our liquidity today.
The sale is for 200.00 BTC (two hundred bitcoins) face value of debt owed to Tangible Cryptography LLC by Bitfloor Inc as a result of depositor funds lost in the hack on the bitfloor exchange earlier this month.
Roman has indicated he is considering providing the ability for creditors to trade debt (transfer debt from one account to another). In the event that is enabled on the bitfloor exchange we will transfer the purchased debt to an account of the purchaser's choosing. If that isn't enabled we will request Roman provide a one time manual transfer of the debt balance to the seller's account (and will provide compensation for time spent). If neither options are possible we will pass through any payments received to a Bitcoin address provided by the purchaser. While the third option is the least attractive, Tangible Cryptography LLC is a trusted member of the Bitcoin community and our services like FastCash4Bitcoin rely on our unblemished company reputation. We feel this makes us a low risk counterparty in any debt sale.
The purchaser is entitled to any and all repayments made as of the date of the sale. Tangible Cryptography LLC will provide a signed bill of sale (PGP signed or physically signed and scanned). Tangible Cryptography LLC will retain no claim on the debt, nor hinder the purchaser in any legal action taken against Bitfloor, Inc to compel repayment.
Asking Price: 140 BTC (70% of face value)
Open to reasonable counter-offers.
On edit: title edited to indicate sale is complete.
Similar offers to buy or sell the "On Hold" debt, or relevant discussion, can be made below. |
|
|
|
I'm familiar with transactions and blocks and all that, but I'm still not sure exactly what a confirmation is..
From another thread: When you exchange cash when making a purchase from a store, you can then walk out seconds later with the item you purchased because the merchant now has the cash you gave in exchange. A piece of paper used as cash can only exist in one place or another -- either in your purse or wallet, or in the merchant's cash register. It cannot exist in both at any one piont in time. There's no legal way that you can spend that cash at more than one store. Cash then, cannot be double spent (excluding, of course, where cash is illegally being counterfeited). Electronic cash accounting systems, such as those used by a bank, emulate that. Before you withdraw cash at an ATM, your bank's accounting system will check to see the balance held in your account. At the moment your withdrawal is processed, your account it debited. That happens instantly rather than overnight or the next day because the the bank doesn't want to risk that you would visit another ATM and be able to withdraw more funds than you had in your account. With that being instant, it prevents you from double spending funds from your bank balance. In that way, the banks electronic cash systems emulate physical cash. If there is a dispute, such as if the ATM thinks it spit out cash, but a malfunction resulted in no cash actually coming out, then the bank investigates and when warranted makes a correcting entry to the customer account. The bank is the authority there. The bank asserts "the truth" as far as its customer's account balances. Bitcoin's architecture is such that there is no bank or anyone else with the authority to adjust balances. There is no central authority. The truth is determined from the consensus of computing work performed by miners who follow a specific protocol. That computing work builds the Bitcoin blockchain. When you first make a Bitcoin transaction and that transaction is broadcast to the network, "the truth" has not yet been established. With Bitcoin's decentralized architecture, this consensus needs to form after your transaction gets included in a block and a chain of additional blocks extend from that. At any point in time there could be two or more solved blocks at the same level in the blockchain competing to win this consensus. At the time, there is no way to know which block will eventually attain consensus as being "the truth" and which blocks will lose support and become orphaned. Only after the chain of blocks is extended with enough additional blocks on top is it then known which of the potentially competing blocks attained consensus and became "the truth". The mathematics of the protocol show it to be safe to accept as "the truth" a block from the longest chain that occurred five or more blocks prior. A block extended with five further blocks will show a total of six confirmations. A Bitcoin exchange, just like your bank, cannot be exposed to the risk of double spending. It will credit your account for the transfer of your funds only after it knows for sure "the truth", and thus it must ignore any blocks until they are part of the longest chain and have six or more confirmations. Here is an interactive diagram that goes through the technical details of a Bitcoin transaction: - http://staging.spectrum.ieee.org/static/how-a-bitcoin-transaction-worksAnd here's the static image from that:  - http://spectrum.ieee.org/img/06Bitcoin-1338412974774.jpg |
|
|
|
From the printed edition. That doesn't happen often. |
|
|
|
|
Show Posts
