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601  Other / Beginners & Help / Re: Official Newbie BitInstant Support Thread (Active Customer Support) on: July 13, 2013, 12:04:36 AM
The site still shows VouchX as one of the destinations for "Transfer".  I thought VouchX was done for.  Is this simply a site error, or has VouchX been revived from the dead?
602  Bitcoin / Project Development / Re: Entrepreneurial Opportunities With BitCoin on: July 12, 2013, 06:32:29 PM
Re-occurring billing:

Only way I think it can be done is with a software solution that allows a user to deposit Bitcoins to the account.  When the account gets low the software emails the user reminding them to refill it.

Hosting providers, VPN services, any re-occurring subscription based service needs something like this.  

Coinbase now enables subscription authorizations:
 - http://blog.coinbase.com/post/50530790639/coinbase-launches-subscription-payments

So essentially by subscribing I am authorizing the merchant to pull $N USD (or ฿N BTC) per-month (or per-day, whatever) from my Coinbase account.  I just need to make sure I have sufficient funds in my Coinbase account when the merchant submits the payment request.
603  Other / Off-topic / Re: BarclayCard PayBand NFC wristband, introduced for #WirelessFest - Closed loop on: July 12, 2013, 06:23:17 PM
This would allow the wristband to be reused at future events, even with a different merchant.

I can't help but think that there's a place for RFID wristbands in providing a wallet that is both convenient and provides financial privacy.

Here's Kashmir Hill's article on Disney using RFID wristbands:




 - http://www.forbes.com/sites/kashmirhill/2013/01/08/its-an-easily-tracked-world-after-all-disney-parks-are-getting-rfid-enabled-magicbands/
 - http://disneyparks.disney.go.com/blog/2013/01/taking-the-disney-guest-experience-to-the-next-level


Of course, those from Disney are not providing financial privacy but quite the opposite -- full personally identifiable tracking.

From just a little research on these, I've learned that the advantage of using these bands to the event operator is that they are a faster payment method than cash or card, and there is much less pilfering than occurs with cash transactions (which, with events that hire local, temporary help has been an issue in the past).   One advantage to the user is the ability to convert cash brought to the event into value stored on the wristband and then not have to carry any other electronics or cash (which would require a wallet, purse, side pack, etc.)

Here's one approach (if financial privacy isn't a factor):

Coinbase, a hybrid E-Wallet, now has "subscriptions".  This is essentially a pre-authorization (authorization for future spending).  

So then let's say I am going to Coachella music festival.  I sign up on their site and it sends me to a Coinbase login where I am asked to authorize a subscription allowing $100 per-day of charges against my Coachella wristband.  I don't actually need to have $100 worth of BTC in my account when authorizing this, I am simply giving Coachella my permission to pull up to $100 a day for purchases.

So I then click authorize and later on the wristband from Coachella arrives in the mail.  I confirm that I received it so that it can be used at Coachella.  Now I just make sure I have a sufficient amount of BTC funds at Coinbase and I can go to the event.   I don't need to bring an ID, smartphone, wallet, etc., ... I just wear my RFID wristband that Coachella sent to me.

If I lose the wristband, then if I have my smartphone I can then cancel the subscription or else I can notify Coachella who then will block any further purchase attempts for that wristband  (there are protections available to prevent griefers from cancelling other people's wristbands, like asking the amount of the authorization, or amounts of previous purchases maybe, etc.)    Adding more funds to a wristband (or getting a new wristband after losing one) will require bitcoins (at coinbase, or in some other wallet), or cash or good friends, so a wristband doesn't solve every problem for everyone.

But the above approach requires this subscription capability from a Coinbase or other E-Wallet provider -- and the event operator then knows my Coinbase e-mail address from my purchase.

What is interesting is the ability for the RFID code to simply be just one of keys for a multi-factor transaction authentication.   Perhaps instead of using a subscription service would be to take advantage of Bitcoin's ability to require M-of-N keys, or some solution using Shamir's secret sharing service from Vitalik Buterin's btckeysplit tool perhaps.  The RFID code, being a static value, is  something that is vulnerable to a replay attack and that limits its usefulness.  A TOTP code, like a Yubikey wristband, might be more useful but then it is no longer a $4 device.

The problem being solved is that today these wristbands work fantastically as a "wallet" for events, but they are not offered at many events (as a wallet).  Presumably this is for the same reason as any other financial innovation gets blocked ... regulatory capture of the payments industry through money transmitter laws.

But Bitcoin provides a path where this concept (wristband wallets) could become used.

Thoughts?
604  Economy / Economics / Re: Are rates expressed the wrong way around? on: July 12, 2013, 12:24:43 AM
Which would be better, Euro's got damned expensive last week at over 0.018 BTC each, or BTC got a lot cheaper at 55 EUR each?

It all depends on what you consider as your base currency.  I tried switching my mindset to using Bitcoin as my base currency and all I did was confuse people like when I asked if I could sell to them some of my dollars.  Here was a comment on that:

If you think of bitcoins as being your base currency, then this weekend's dip trade resulted in a gain on an investment held just over the weekend.

But I'm debating on whether or not to phrase the trade using the right terms.  Instead of saying I was selling coins on Thursday what I should have said was that I was buying dollars.

Then today, I sold those dollars and as a result of that trade I got back about 5% more bitcoins versus the amount I had spent on Thursday.  Thus using the term "5% gain on the weekend dip trade' is the correct way to phrase it.

It gets confusing switching back and forth on what is referred to as the base currency though.
605  Economy / Currency exchange / Re: Does anyone send Cash in the mail for Bitcoins... on: July 11, 2013, 10:11:42 PM
Does anyone do this?

If that was what you really wanted to know, then yes .... Casascius and others have done this,  Danny Hamilton does it:
 - http://bitcointalk.org/index.php?topic=254380.0

606  Other / Politics & Society / Re: U.S. CrowdFunding Bill on: July 11, 2013, 10:56:17 AM
Well, some forward progress.

SEC Clears Way for Entrepreneurs to Tweet, Blog About Unregistered Shares
 - http://online.wsj.com/article/SB10001424127887324694904578597691543313894.html

Next on deck:

Quote
The Financial Industry Regulatory Authority, a Wall Street regulator funded by private-sector financial firms, is also expected to weigh in this week. It will begin to consider rules allowing so-called equity-crowdfunding websites to help entrepreneurs sell unregistered shares in their companies to any investors, regardless of their net worth, another key provision of the JOBS Act.
607  Economy / Service Discussion / Re: Gox changes SWIFT code on: July 11, 2013, 10:09:45 AM
They are changing SWIFT code

How was this communicated to you?  When does the change go into effect?
608  Local / Mining (India) / Re: Network hash rate, difficulty, profitability on: July 11, 2013, 08:26:57 AM
remarkable that with difficulty increase on  22.63%, network hash rate dropped from 213 trh to 199trh

Where is this "network hash rate" number you are using coming from?
609  Bitcoin / Project Development / Re: ICBIT Derivatives Market (USD/BTC futures trading) - LIVE on: July 11, 2013, 07:37:48 AM
Is there a method for contacting support securely?

e-mail, unless encrypted, is not secure.  Does ICBit support have a GPG key for messages?
610  Economy / Service Discussion / Re: *Unofficial* ICBIT (BTC Futures Trading) - Help & FAQ's on: July 11, 2013, 05:18:10 AM
when you are holding positions that compete with people who can create unlimited contracts and who can see the details of your positions, including available bitcoin.

Again, this is a Help & FAQ and not the place for a discussion on your topic.  I'll no longer be posting here in response to your assertions.  I have continued the conversation here though:
 - http://bitcointalk.org/index.php?topic=50817.msg2703939#msg2703939
611  Bitcoin / Project Development / Re: ICBIT Derivatives Market (USD/BTC futures trading) - LIVE on: July 11, 2013, 05:17:40 AM
There's conversation in another thread that is more appropriate here, so I'm quoting a part of it here for discussion.

when you are holding positions that compete with people who can create unlimited contracts and who can see the details of your positions, including available bitcoin.

Is it possible to run an exchange where the exchange operator would not have the ability to enter fabricated orders or to know the positions held in customer accounts?
612  Local / Other languages/locations / Re: Singapore on: July 11, 2013, 03:08:30 AM
Just noticed this:

Quote
I just helped Artistry cafe owner to be the first place accepting #bitcoin in #SG. I paid 0.1 BTC for an awesome coffee & chocolate cake.

 - https://twitter.com/TomasForgac/status/354918037276721153
 - https://twitter.com/artistrycafesg
 - http://www.artistryspace.com

"Nestled in a quiet corner of the Kampong Glam heritage district, Artistry is a new art gallery and café in a shophouse dedicated to art."
613  Bitcoin / Project Development / Re: ICBIT Derivatives Market (USD/BTC futures trading) - LIVE on: July 11, 2013, 02:00:41 AM
so withdrawal requests which would normally be processed are pending now (because otherwise they may not be able to sustain payout requirements of a BTC/USD-4.13 contract due to settle in a couple of days.

The amount displayed as being available for withdrawal shouldn't be a soft number.  What conditions would cause a withdrawal request to hang as pending, and for how long would the duration be of that status on a withdrawal request? 
614  Economy / Service Discussion / Re: *Unofficial* ICBIT (BTC Futures Trading) - Help & FAQ's on: July 11, 2013, 01:48:35 AM
To use backwardation to describe a heavily margined bitcoin future that has been manipulated is a stretch.

OK, at this very moment the last trade at BUZ2 (occurred a few minutes ago) shows 85.  Mt Gox has plenty of bids above, ... and currently trades about 88.

It doesn't matter if that fits anyone's definition of "backwardation", ... it is a condition that can happen, with or without manipulation.

Now until you say that icbit refused to enter an order of yours, or that a deposit you made wasn't credited to you account, then iCBIT is a functional marketplace that is subject to market forces.  Your positions are at a higher risk if you use leverage.  If market forces cause extreme backwardation then that's the nature of the beast.      There's nothing to counter manipulation other than market forces.

Perhaps, akwfleaspirit, ICBIT isn't the right place for you.  Perhaps a nice FDIC insured CD at your local bank is a more secure place for you to speculate with your funds.  [Edit: Actually, that might be something that should be bolded and in red at the top of the OP for this thread.  "This service causes traders to be vulnerable to manipulation by other traders.  If you don't understand the risks  don't trade here.".]
615  Economy / Service Discussion / Re: *Unofficial* ICBIT (BTC Futures Trading) - Help & FAQ's on: July 10, 2013, 10:21:20 PM
You and a bunch of people on your site use these words constantly but you are using them in a way that shows you do not know what they mean.

Backwardation

"it may also refer to the situation where a futures contract price is merely lower than the current spot price."
 - http://en.wikipedia.org/wiki/Normal_backwardation#Normal_backwardation_vs._backwardation
616  Other / Off-topic / Re: Serval & mesh networks revisited on: July 10, 2013, 10:04:00 PM
Here's a Serval crowdfunding project:

 - http://www.indiegogo.com/projects/speak-freely
617  Bitcoin / Meetups / Re: Any Bitcoin Meetups in the Los Angeles or Orange County Areas? USA on: July 10, 2013, 08:49:04 PM
I'll be visiting from NYC...

July 15th meetup on Venice beach in Los Angeles at 7 pm.

Hinano Cafe
15 Washington Blvd
Venice, CA 90292

http://www.meetup.com/Los-Angeles-Bitcoin/events/128748012/

I'ld meet up but I'll be out of town.

If you aren't able to get much interest in that event (especially with it occurring five days after this one: http://www.meetup.com/Los-Angeles-Bitcoin/events/123784402/ ) then you might just consider this event that same evening:
 - http://www.meetup.com/Libertarian-Entrepreneurs-in-Los-Angeles/events/126450802
618  Bitcoin / Bitcoin Technical Support / Re: Created a transaction with too small fee on: July 10, 2013, 09:28:33 AM
I sent my bitcoin from qt file to my other wallet, but I don't know what transaction fee was and I only set it to 0.00001 BTC when I'm sending 0.04877278 BTC. So it has been staying unconfirmed for months. Will it be confirmed ?

You can remove a transaction that isn't confirming by using pywallet and performing wallet surgery:
 - http://bitcointalk.org/index.php?topic=34028.0
619  Bitcoin / Bitcoin Discussion / Re: Security at Camp BX on: July 10, 2013, 08:56:51 AM
I realize this is a necrothread, but this was a thread started by Camp BX and my question falls under this topic.

I see that Camp BX has added Google two-factor authentication (2FA).

However, let's say I used the 2FA/TOTP code on one device and then want to move that capability onto another device.  The problem I see is that when I go to create a QR code for adding the TOTP code to my second device then the secret code presented by Camp BX is the same QR code that had been presented initially with the first device.   So therefore I cannot be completely assured that the TOTP secret exists only on my second device since the same secret still could exist on the first device (e.g., if it had been backed up).

So my request is to generate a new secret each time the user enabled 2FA / TOTP.
620  Economy / Service Discussion / Re: *Unofficial* ICBIT (BTC Futures Trading) - Help & FAQ's on: July 10, 2013, 01:44:53 AM
All of the comments made already stand and won't be removed but if you make your site right and stop the cheating games my comments will reflect that.

Please, akwfleaspirit, this is a "Help & FAQ" thread.

You have started a thread in the proper board (Service Discussion). That's where these types of comments belong.
 - http://bitcointalk.org/index.php?topic=246845.0
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