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661  Bitcoin / Press / Re: 2013-6-11 The 51% Attack – What Bitcoin Can Learn From Alt-coin Experiments on: June 11, 2013, 08:28:15 PM
Btc-e, one of the largest BTC/FTC exchanges, increased the confirmation requirement to 100 blocks (over 4 hours) completely countering Feathercoin’s quick confirmation advantage.

This is why I'll tell anyone who will listen that keeping funds (any funds, Bitcoin, Litecoin, etc.) on an exchange that also deals with a currency other than Bitcoin is taking a big risk.

Your Bitcoins Are Not Safe At Alt-coin Exchanges
662  Bitcoin / Bitcoin Discussion / Re: Currency based upon computing power? on: June 11, 2013, 06:11:00 PM
As far as Sara Eisen's question as to how to get in on the "game" (of investing in Bitcoin companies) early?

BitPay's Tony Gallippi answered that here:

By simply owning bitcoins, you can profit from the success of every bitcoin company. There’s no need to pick the winners. BTC is the investment that gives you exposure to the currency, to the payment network, and to every business building products and services on top of bitcoin.
663  Bitcoin / Bitcoin Discussion / Re: Currency based upon computing power? on: June 11, 2013, 05:49:50 PM
In this video Bob Gelfond proposes the idea of a currency based on computing power.

The reason the Bitcoin network requires a large amount of computing power is to enable decentralization, with a proof-of-work being the tool employed.

But that computing power is for a specific purpose, ... to make it so that the decentralization is immune to corruption.   That's the only reason there is this large amount of computing power.

But the proof-of-work computation that is performed is useless for anything else.  

Now that doesn't mean the computing resources that Bitcoiners will abandon can't still have use for scientific purposes, but that has nothing to do with currency.

CoinLab was making inroads to doing this but got stuck on how distributed scientific computing is a hard problem to solve with little opportunity to monetize it.

But if someone wants a "currency" based on computing power, essentially any exchange market for computing time would be that currency.   But that's a security, not a currency.

Incidentally, Bloomberg needs to update their B-roll.  It was recorded back when Bitcoin was $64-ish.
664  Bitcoin / Press / Re: 2013-06-10 PRISM’s effect on bitcoin prices on: June 11, 2013, 05:41:07 PM
Who are Coindesk's journalists??? Ugh, for the millionth time corration =/= causation

Same type of journalism at CNBS and other play-by-play reporting, they go with whatever resonates with readers or piques their target market's interest.

But there's nothing saying Bitcoin doesn't continue to get a little boost as a result.   Just like Cyprus alone wasn't responsible for lifting Bitcoin trading value from $30 to $200 or whatever, it definitely played a part.  Cyprus was betrayal, as is PRISM.
665  Alternate cryptocurrencies / Altcoin Discussion / Re: Namecoin: New Firefox with built in .bit resolution. on: June 11, 2013, 04:46:46 AM
Want the source code? Fat chance.

Hm ... I wouldn't dare use that on a system that I might have a Bitcoin wallet on (or for anything other than a browsing-only VM perhaps), but that is need to see that you were able to hack it to make it work for .bit / namecoin.

More info:
666  Other / Beginners & Help / Re: Why is bitzino making money when others are failing with better software? on: June 10, 2013, 11:38:16 PM
anyone know the minimum bet at bitzino in terms of BTC,

I don't know that level for each of the games BitZino offers, but for Blackjack you can set the minimum bet to 1 microbitcoin (100 Satoshis).

and has anyone received BTC back from bitzino?

You are asking if anyone has had a withdrawal request succeed?   Or, are you asking if anyone ever wins?
667  Bitcoin / Press / Re: 2013-06-10 - Meet the world's first Bitcoin baby on: June 10, 2013, 10:35:39 PM
2013-06-10 - Meet the world's first Bitcoin baby

It would have been nice if the article had mentioned how payment processors such as BitPay, Coinbase, BIPS, etc, make it possible for the merchant to avoid exposure to exchange rate risk.

Great article though!

668  Bitcoin / Bitcoin Discussion / Re: Bring bitcoin into high end/special sales on: June 10, 2013, 09:57:38 PM
Bitcoin will succeed only if there is a compelling reason why using it is better to using the alternatives, not by trying to create situations that force people to use it.

... said no marketing professional ever.
669  Bitcoin / Legal / Re: Payward's ( GC Interview with Adam Levine on: June 10, 2013, 09:20:15 PM
A youtube clip includes just the segment of the show in which Constance Choi was interviewed:

Length: 24 minutes.
670  Bitcoin / Development & Technical Discussion / Re: BTC violates GAAP, result a mess. on: June 10, 2013, 09:16:00 PM
Imagine that a customer/merchant might use in any case the wrong address.
How can that be repaired?

You are familiar with the payment protocol that is planned?

Note this as well:
PaymentRequests include a user-friendly description of what the payment is for
671  Bitcoin / Project Development / Re: Branded Bitcoin Tablet Devices on: June 10, 2013, 08:28:44 PM
I would like to gauge how interested and receptive the community is to a Bitcoin tablet device.

I was thinking about the need for a Tor Tablet, with a bitcoin wallet, on a secure O/S or at least configured to be as secure as you can get on a consumer-level device.   This would be for the person who simply wants a device for use with Tor that is completely separate from anything else ... i.e., so they don't need to install Tor on a laptop or desktop or other mobile / tablet / etc.

Very cool ... a dual boot tablet, Linux and Android:

Oh, and they take Bitcoin payment to boot.
672  Economy / Speculation / Re: Looks more and more like a 2011 repeat on: June 09, 2013, 11:03:29 PM

Wow, those two fit nicely!

What's interesting is that June 2013 is unlike Aug 2011 and there aren't many this time who are calling Bitcoin a failed experiment / dead.  :-)   [Edited: to put in dates]
673  Bitcoin / Technical Support / Re: Bitcoin-Qt Heavy Usage on: June 09, 2013, 10:55:16 PM
almost 60 GIG uploaded??!!??  That has to be something wrong.

Bitcoin is a peer-to-peer network, so a willing node serves data to other peers.

If you wish to not serve any peer requests, simply turn off any listening.
 -listen 0   [I believe 0 disables the listener]

674  Bitcoin / Alternative clients / Re: Idea: Offline portable wallet on: June 09, 2013, 04:35:46 PM
This is very similar to what Armory is currently doing for offline wallets but the transference method through usb stick is not as simple as the QR code,

But Armory's offline signing isn't standalone.

That's all the offline computer does:  lets you confirm the transaction details, and sign it.  

It still needs the connected instance to create the unsigned transaction which is than brought over to the offline system for signing.

And here's the reason you wouldn't want to trust the merchant to build the unsigned transaction for you:

I haven't looked at this closely but the approach is interesting

VisualBTC - Android-based hardware offline wallet using animated QR codes
675  Economy / Service Discussion / Re: Bitinstant what happened to zipzap? on: June 09, 2013, 05:32:26 AM
Is this down for good?  Is there somewhere else I can buy bitcoin like I used too from bitinstant using moneygram/zipzap?

I need to make a payment in the next few days with BTC and I will need to setup a wire transfer ASAP if this is not going to be up soon.

From the BitInstant support thread:

Cash deposits will be back Monday.  Thanks for your patience.
676  Bitcoin / Mining speculation / Re: When will the gpu line be crossed? on: June 09, 2013, 12:58:26 AM
Shutting down the GPU farms will be gradual as different countries have different electricity rates, the difference in electricity rate can be 10x between to countries.

CPU mining fizzled out this same way. Eventually even the bot owners (who stole the compute time + electricity from their marks) quit even though it was still technically profitable because even the small effort put in yielded so little value in return.

GPUs are not returning great profit but still today decently profitable for the typical (paying $0.15 per kWh).   But back a few months ago the prognosis was that "in a few months" it's all over for GPUs.  Well, the ASICs took longer to start shipping in quantity but they are today shipping and this is what is happening without the backorders even coming close to having been cleared:


Major movement in BTC/USD price can make things completely different, GPU mining can end next week if there is a huge crash in BTC price, or it can continue through this year if BTC gains value rapidly.

Nope ... an exchange rate rise, even hitting BTC/USD of $500  won't keep the pace anywhere near the difficulty rise.   Start planning some other use for your GPUs.
677  Bitcoin / Bitcoin Discussion / Re: Bring bitcoin into high end/special sales on: June 09, 2013, 12:38:41 AM
To increase the interest of bitcoin, there must be some products exclusively sold only for bitcoin, and those products should be in the high end segment. In this way, some specific consumer will try to get bitcoin, that will make bitcoin a little bit special

I'ld love to see some sought after product or service be offered with the only payment being Bitcoin.   For instance, if there was some event that has sold out except for a block of tickets that can only be purchased with bitcoins -- that would cause many to enter their first bitcoin transaction.

I opened a Question on Bitcoin StackExchange as a place to aggregate these exclusive to Bitcoiner deals:
678  Economy / Service Discussion / Re: mtgox account compromised...anyone else? on: June 09, 2013, 12:07:08 AM
not even sure what 2fa is, im guessing you mean an authenticator of some sort.  i did not have one in place because my phone does not support the google authenticator and i dont have a yubikey.

How to use 2-factor auth on mtgox, even without a smartphone

This type of loss happens a lot:

MtGox account got cleared out

All BTC disappeared from my Mt. Gox account


And another: My mtgox account got compromised, what can I do?

Yet more: MT.Gox account hacked - lost 2k USD - MT.GOX will not explain how.

And more again: Bitcoins stolen from MtGox

And yet more: Stolen from Mt.Gox coins. Help return the coins.

Or more here: Email from Mt.Gox this morning.

And even more here: I just had $715 stolen out of my Mt. Gox account.

And the biggie: Bitcoinica MtGox account compromised

With more here: Unauthorized Account Activity on my Mt.Gox Account - Account Compromised/Hacked?

And even more: *MY* Mt Gox Account was Hacked - lost it all today... now what!?

Ditto: My MtGox account was just exploited - 3 BTC stolen

Ditto on the ditto: Just lost 190 bitcoins through Mt. Gox

And other ones get added to the list: Unauthorized withdrawal on Mt. Gox

And then here: How I got robbed of 34 btc on Mt.Gox today

And recently this: My MTGOX account was hacked!

And now yours: mtgox account compromised...anyone else?

And another fairly recent one: My funds and BTC have just disappeared from my Gox account!

And on other services as well. Here same thing happened to some GLBSE users:

And elsewhere, in this instance:

And on as well: Bitcoins stolen from

In none of these was the person using multi-factor authentication. Mt. Gox has had Yubikey support for a while. Mt. Gox accounts now support Google Authenticator:

If the exchange you are storing funds with doesn't provide OTP, consider using a different exchange:

If you are storing funds in an EWallet, consider using a paper wallet.

Again, here is a fantastic guide: How to use 2-factor auth on mtgox, even without a smartphone (from a second device, of course, not from the same computer you log in on).
679  Economy / Trading Discussion / Re: Interesting conversation with a retailer who formerly accepted Bitcoin on: June 08, 2013, 11:36:11 PM
And the bitfloor hacker thanks you for your order.  Grin


Well, fortunately now there is integration with your shopping cart provider (3DCart)  which works with BitPay so that you don't have to be exposed to counterparty risk of doing it yourself through an exchange.  Looks like you're already doing this:
680  Economy / Services / Re: Nice, now accepting bitcoin... on: June 08, 2013, 10:52:25 PM
Incidentally, the main URL site cannot be accessed securely but there is an alternate URL that is secure:
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