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861  Bitcoin / 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]

862  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
863  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.
864  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.
865  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:
866  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).
867  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:
868  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:
869  Economy / Service Announcements / Re: 1st Greek Hotel & Restaurant that Accepts Bitcoins! on: June 08, 2013, 09:38:39 PM
Yes it's true!! We have been there and stayed for a couple of days and we paid only with BTC....

Have a look and enjoy Greece!!!

So the name of the hotel is Mani - Akrotiri?   

Located in Porto Kagio:
870  Bitcoin / Mining speculation / Re: Difficulty and BTC value on: June 08, 2013, 05:29:37 PM
So I go back to the statement that difficulty and price are nowhere near related.  If they are related, show me the equation.. I've looked at this and tried, there is no statistical correlation.

There certainly is correlation:

 - (underlying data)

Clearly, difficulty does tend to rise when the exchange rate rises, difficulty drops are correlated as well though less so.

But the relationship is that difficulty follows price, and not the other way around.
871  Bitcoin / Bitcoin Discussion / Re: Please help get bitcoins accepted at Freelancer on: June 08, 2013, 05:16:30 PM
And if freelancer accepted bitcoins, you could point anyone who wanted to make a few BTC to that site with so many ways to make money.

You are assuming that if they accept bitcoins as payment that they then pay out bitcoins to the freelancer/contractor.   That would be nice but each side of it is independent -- they could accept Bitcoin payment and then pay out fiat,  or hey could accept fiat and then pay out bitcoin as well.     I know these sites have two problem areas ..., one being payment card/bank transfer fraud where the payment gets reversed (or claimed that it was not authorized).    The other is with abuse where the "gig" was fake -- and was instead a front for money laundering.

I don't know that a Freelancer will want Bitcoin to be used.   Payment fraud (reversals/chargebacks) is one reason freelancer/contractors aren't working directly for others.  But with Bitcoin payment there's no chargebacks.  Thus there's no risk to dealing directly with an unknown party as long as services are pre-paid by the hiring party.

So Freelancer, oDesk, etc. all rather enjoy the current necessity to use an intermediary.

They are certainly aware of Bitcoin.  This is from more than two years ago:

Incidentally, here's a talk by Michael Levinson, VP of Product, oDesk, which has a lot of freelancers from developing nations.  He describes the challenges to (and importance of) paying those contract workers.  Notice that the bitcoin topic just keeps coming up over and over by those in the audience.  (Which is interesting, because this video is [from May, 2011].)

872  Economy / Services / Re: BillPayForCoins announces 0% Fees for 6 Months on: June 08, 2013, 11:29:54 AM
Really, you can pay anyone or any company. We just need your biller's contact info so we don't get into trouble when we pay your bills; why? FinCEN regulations. This is only temporary until everything is worked out in our backend, and the paperwork that is going to take some time to process is processed.

I see that has changed:

Who can I pay using BillPayForCoins?

Until we expand further, any payments that you wish to pay through must be to a Biller located in the United States and the payment must be for rent or for a Supplier.

873  Bitcoin / Legal / Re: Payward's ( GC Interview with Adam Levine on: June 08, 2013, 11:15:41 AM
starts at 12:27: 

And continues to 31:06.

GC as in General Counsel.   The description for the episode reads:
Constance Choi, Legal Council at Payward brings us up to speed on DC, Fincen & Treasury

This was a fantastic interview!

So this "meeting in Washington with Treasury", was this the same meeting that Gavin was describing where he'ld be meeting with Jennifer Shasky Calvery (director of FinCEN)?     I'ld like to know more about that meeting (who, when, where).
874  Bitcoin / Press / Re: 2013-06-07 LeWeb London 2013, The Pros & Cons of Bitcoin on: June 08, 2013, 10:00:50 AM

Pannel discussion on Bitcoin with Roger Ver, Tony Gallippi,  Shakil Kahn at LeWeb 2013,  one of the most influential tech conferences in the world.

For the question at the end about the "datacenters owning the bitcoins", a similar argument is how transaction fees go to the miners so the miners will be the ones who end up with the bitcoins.

That isn't a problem though because mining has a trivially low barrier to entry, such as this ASICMINER USB block erupter:

and thus there isn't much seigniorage over the long run.

This is in contrast to fiat banking which is a regulated monopoly, consuming hundreds of billions of dollars of fees just in the U.S. (e.g., NSF fees, account maintenance fees, etc.), merchant fees (paid by the merchant but whose costs are built into the price charged), etc.    With the banking system there is a structural flow of funds from the customers (user) to the provider (banks).  With bitcoin, that's just not the case.  

As far as the miners having control of the network, that's not really true.  The miners are essentially employees.  Tony described this perfectly at 30:50 in the video regarding the March 11 hard fork.  Hey said "which [side of the fork] which the majority of the users" is what determined which side the miners switched over to.      And that's a perfect example of where miners didn't call the shots, ... nor did the Bitcoin developers.   The mining capacity went to the side where those who pay the miners were on.    Because Mt. Gox is still such a huge percentage of the market, if they had been on v0.8 that side of the blockchain fork would probably have remained the longest chain and everybody else still on v0.7 would have needed to take emergency measures to accommodate the resulting locking issue.      i.e,  the economic majority (those who have coins and those who buy coins) are the ones who control the miners and not the opposite.
875  Economy / Service Announcements / Re: Bridgewalker's new value proposition: an exchange rate adjusted Bitcoin wallet on: June 08, 2013, 09:29:32 AM
Bridgewalker will ensure that you continue to have $20 worth of bitcoins, regardless of how the exchange rate develops.

This essentially becomes a current account denominated in USDs -- one that is funded with bitcoins which are converted to USDs and then stored by your service.

Wouldn't this make your service a target in the same manner as the digital currency exchanges who have recently lost their domains and/or bank accounts?
876  Bitcoin / Project Development / Re: Wi-Fi Hotspot company to be paid in bitcoin on: June 07, 2013, 10:48:25 PM
Does anyone live in an urban area and is willing to set up routers?

Can you describe further what it is you are asking help with?
877  Economy / Speculation / Re: The Weekend Dip Myth on: June 07, 2013, 06:28:40 PM
Bah.  I think this myth is BUSTED.  It used to work.  There still might be conditions where it works.

This week was a perfect example of how we had a pretty clear Weekend Dip green light, and following the Weekend Dip strategy would have yielded a nice gain.   


Oh well, it's not reliable for trading anymore but I'll keep an eye out to see if the pattern returns.
878  Bitcoin / Meetups / Re: [SOCAL] Southern California Meetups on: June 07, 2013, 06:04:27 PM

Followup report of Wednesday's Bitcoin Meetup:

879  Bitcoin / Meetups / Re: Any Bitcoin Meetups in the Los Angeles or Orange County Areas? USA on: June 07, 2013, 06:04:17 PM

Followup report of Wednesday's Bitcoin Meetup:

880  Bitcoin / Meetups / Re: Any Bitcoin Meetups in the Los Angeles or Orange County Areas? USA on: June 07, 2013, 05:58:37 PM
Satoshi Square (Project Buttonwood)
In-Person trading
Wed. June 12, 2013  6:30-8:00 pm
Downtown, L.A.  (Grand Park)

Quote invites you to attend Los Angelesís first open air market! Satoshi Square LA will be Wednesday, June 12, from 6:30p-8:00p. Weíll be meeting up at the newly launched Grand Park downtown, at the fountain. This event is based on the Satoshi Square events in New York, and weíll be using a version of Josh Rossiís software to run the trades. The first 20 people to arrive will receive Gogocoin cards, filled with $5 worth of bitcoin each.

Grand Park is located in Downtown Los Angeles. Itís very close to City Hall and the Walt Disney Center. You can get there easily on the subway at the Civic Center stop. Parking for Grand Park is available in Lot 10 on N Broadway between First Street and Temple Street. Click here for a google map.

If youíre new to bitcoin, we can show you how they work. Canít wait to meet other bitcoin enthusiasts and trade on June 12!
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