Thanks for clarifying. Slight follow-up question, if in the future I decide to provide escrow services (Disclaimer: I have no plans to do so), does that make me a money transmitter?
It probably does, but the laws vary depending on where you and your customers are. You need to look them up. For example, in California: http://www.dbo.ca.gov/Licensees/money_transmitters/I would disagree unless fiat is involved. In order to potentially be a money transmitter you need to either send or receive money (cash fiat). If you are only acting as escrow for bitcoin and goods/services then you would not be involving money in any way. |
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Electrum. It's ugly, but does the job well. It doesn't require users to download the entire blockchain (which is why I wouldn't recommend Armory). Electrum is also deterministic, so as long as you have the backup seed written down and stored safely, you can easily restore your funds if your computer crashes.
For iOS, breadwallet.
I'm using Electrum and it's not ugly  The seed recover is really useful, I feel more tranquil knowing that I can't lose my (few) coins. Can you give us some screenshots? I hope you are kidding about this. You do realize that you are asking this person to show you can essentially steal his coins, right? |
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Just like bitcoin it's an interesting concept and experiment for sure. As I understand it anyone can use the software to set up their own sites so new ebay-like sites and also darknet sites will surely rise up. I really would love seeing a competitor to ebay arise, especially one that is free. Why wouldnt people use it?
The only issue I see is the complicated method of setting up shop so far. Your everyday "ebay seller" won't have a clue how to do this they barely can turn on a computer.... https://blog.openbazaar.org/openbazaar-beta-1-0-tutorial/Yeah that's a good point actually. I'll have to read a bit more into that. I'm sure like most technology it will get easier and simpler to use as time goes on. I know somebody who has an ebay business. They would love to not have the fees. I could easily see them using this tech. At the same time, ebay/paypal makes buyers feel safe. And ultimately buyers need a way to feel safe. If a buyer is buying drugs that they can't get elsewhere, yes an open bazaar is worth a try. But if somebody just wants to buy regular things, amazon and ebay offer much more consumer protection. Until this point is addressed very well, this kind of tech will have problems. I am an optimist and I do believe that it will eventually be addressed. Open Bazaar will offer notary, arbitration and reputation system using proof-of-burn. When everything will be geared up, I don't see why it will be any less secure than ebay/paypal. It would be less secure because the arbitrator could potentially be influenced by one of the parties. Or the arbitrator could actually be one of the parties. When you are dealing with a site like eBay, you know that arbitration will follow a certain set of rules (regardless if you agree with these rules or not) so if you have the right evidence and enough evidence to show you are in the right then you would know with reasonable certainty that eBay will side with you. I agree. I think that users would be very vulnerable to potential fraud by shill escrows. This would be especially a problem at first because there would be no established system of trust in place to know which "escrow" users to trust. |
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Simply put: Bitcoin development priorities should be decentralized. Everyone should have a voice. There should be a voting mechanism whereby the *community* decides what is top priority, and what goes into the protocol next.
In other words, by "voting", you mean a way for one group of people to force another group of people to do something that they don't want to do. Bitcoin uses something better than voting. It is called a fork. If you don't like the protocol, then you can create a fork, and everyone that agrees with you can use your branch of the fork. If your branch is more popular than the other branch, then it is in each person's best interest to use your branch, though it is not required. The problem with a fork is that it is a defacto way of voting, but instead of each person having one vote, each dollar (or other unit of wealth) has one vote. The success of a potential fork is essentially determined by the miners, if the miners accept the fork then they will adopt it and secure the new, forked network, while the old one will be left much less secure and likely unusable. |
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I would not be surprised if Ross's defense team question just what the FBI agent's definition of "entering misc text" in the Capha field on the login screen means. I would think this would be something much more then an FBI agent simply typing the incorrect code, or even typing it incorrectly multiple times in a manual fashion. If this was the case then another attacker would almost certainly have been able to figure out the IP address of the SR servers. I would suspect that the FBI agent was likely using somewhat of a more sophisticated method of attack, maybe something to do with DDoS, or maybe something else.
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But I'm genuinely curious to know why the topic isn't worth your consideration. It seems to imply that you must know something about the topic if you can conclude it's boring or unworthy of consideration as a realistic threat.
because you and the people rebuttling my reply are not talking about paypal or credit card technology! paypal and credit cards do not have technology that makes them safer from hackers sniffing your keyboard inputs, nor browser hijacks that can see what you are typing into the website. or to simply send all computer info to an outside source via radio waves the people rebutting are talking about about insurance policies that those services have. nothing to do with prevention protocols or technology. so from the protocol and technology side bitcoin, paypal, and credit cards have the same risk of being hijacked through NSA/hacker snooping. having house insurance or a insured wallet service has nothing to do with the technology and as the rebuttlers point out, paypal does not protect you from being hacked or having your funds taken. they can only re-imburse you. meaning their technology is not any more secure, they simply charge you a huge fee in the smallest of chances that they need to give you funds from this pot of fee's to cover losses. again ill word it to you. paypal and credit cards have ZERO technology to PREVENT loss against radio transmitters in your computer equipment. they simply repay you with their profits from fee's AFTER the fact. the rebuttlers mindset is that having a leather wallet hanging out of their teenagers back pocket for anyone to pickpocket is safe because their moms will give them money if their wallet is stolen.. nothing to do with if leather wallets or having it open for anyone to steal is safe or not. Your response ignores the fact that if your credit card information is stolen and used without your permission then you are protected as a consumer, while if your private key is stolen then your bitcoin is essentially gone. This prevents people from being incentived to taking great measures to protect their credit card information, as the worse case scenario is they suffer a minor inconvenience while waiting for a replacement card while someone who has bitcoin has a vested interest in keeping their private keys safe (as asked about by the OP) because if they are compromised then you are essentially out of luck. |
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Having a Bitcoin wallet can establish an emotional connection between a person and Bitcoin. It can lead them to think and to dream. It can plant a seed.
Most wallets are free, easy and quick to download. There is no other equivalent first step for Bitcoin adoption with a better return on investment.
You can't win if you don't play.
I would think for this connection to be made, a person would need to have more then an empty wallet. They would likely need to at least own some amount of bitcoin. This would allow a person to have the same connection that a person has with their money. A person really needs to actually use and understand how bitcoin works in order for them to see what it's true potential is. |
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Is Coinbase my only option?
I would suggest trying to become a liquidity provider on localbitcoins.com. You can generally buy bitcoin at below market cost, however you will need to wait for people to take up your offer and would not be able to buy exactly when you want. |
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I wouldn't. I can see some future bad effects of this name on my child already and he would hate me for it.
I agree with this, as I would not do so either. I think it would likely have negative effects on the child throughout his life. of course, cause it sounds ridiculous I think it would be very similar to naming your child Jesus, Ghandi, or Madonna. It would have very bad implications for the child throughout his life. He would likely suffer horrible emotional trauma because of it. |
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A couple of weeks ago I'd have said Detroit, but if they really are enforcing those laws they're currently working on, it may hinder Bitcoins development a lot. :-/ It could be Boston.  I would highly doubt that Detroit will ever be the center of anything ever again. It is simply too poorly run of a city. Even when the auto industry was booming and most cars were being built in Detroit, it was still notorious for it's horrible crime problem. |
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Yes people are this stupid. It is sad, but true. They don't understand what it takes for these levels of returns to be possible and that there is no way for them to be sustained over the long term.
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TIL a huge number of cold storage coins held by bitcoiners will be lost forever on their death.
Not a huge number since most of the people giving "good" advice in this thread aren't holding more than a couple coins. Not a single person saying "Well, I printed my thingy onto a metal wallet and then I bought a safe." I think we're just securing a bit of money, not trying to trick Danny Ocean and his band of misfits. I printed mine out on multiple paper wallets. I didn't want to have the entire block of coins all on one address. The reason for this, in my mind, was that when I want to spend some, I wouldn't have to sweep the entire sum, then re-distribute once again. I have 3BTC here, 2BTC there, 1BTC there, there, there...you get the idea. It's a little more work, but if you're storing one somewhere, then why not store 5, or 6, or 12 paper wallets? I have multiple copies of each wallet, paper and digital, and I have the passphrase in my head, (plus encrypted on USB that my wife can figure out if need be). I've also left detailed directions for her on how to de-crypt the private key once she has the passphrase (including the link to my post where I freaked out when first trying to access the private key). This sounds like a complicated process to me. More so then it should be for storing (and using) your money. I like the idea of having multiple backups of your wallet, but not so much keeping various wallets with different amounts on each one. |
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I think bitcoin donation would make Governments more concerned against btc as it's hard to keep track of it.
i don't think government cares about that. in fact, the republicans in the supreme court are responsible for the citizens united case, which made way to bring even more money into politics. Having a lot of money involved in politics is a good thing as long as the money is involved in issue advocacy as opposed to candidate advocacy. Issue advocacy is something in which a specific issue is advocated, for example trying to get the keystone pipeline built; it will allow for a public debate regarding various issues that people consider to be important enough to spend money on. |
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They're not donating, they're fishing.
Fishing? like hoping a whale sends back a big sum or something? Shit, does this actually work? Cause I could use some free money. No it does not work. Have you ever looked at addresses with very big balances? Have you noticed that these addresses receive a lot of spam transactions with public notes (on blockchain.info) that are begging for people to send money back to them? |
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I think the prospect of facing jail-time would have likely made this less pleasurable. After a while, being coped up in your (parents) house would also tend to not be very fun. |
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I sell quite a bit online for BTC and have seen some of the discussions on here but want to make sure I am updated on the best ways to keep on the level when selling. Most of the time I sell smaller things and since I have a contract with several delivery companies I can send all my stuff for free. I am now selling larger things, mostly right now I have been selling my tactical crossbows along with tons of accessories for 5BTC, sold 4 out of 10 so far but I will be selling larger including large edgeless TVs and used cars. I just wanted opinions on the best ways to sell larger items to make sure both sides are feeling comfortable. With the Crossbows, not to much security goes into it as they just send the bitcoin, send an email with their information and I send it, they get it a week later, 2 if they want something more and that is it. With the cars and tvs however might be a bit different. If anyone can share a few pointers on how they would handle it please let me know as it would be of help.
Also, I have started helping with "referrals" on a survival info site and been getting a few bitcoins here and there so if you interested in that I can send you information.
1. Deliver the product in a timely fashion when you are paid. 2. Build trust. 3. Offer on escrow with good guys off of here who you know would cost them more in their rep to fuck you over than they would financially gain from running off with the funds. (SaltySpitoon is who I would trust. The dude is a A+ guy) For large transactions that might be worth wacking you in the head over you should put some funds in escrow or at the very least have them sign a address with the number of coins it would take to buy the product. Meet in a nice public place, so you can yell "rape" if they pull some funny shit.  Selling cars sucks donkey dick in general IMO. I got one I need to sell atm. Honestly, I prefer to do large trades for BTC over cash by far and away. Big problem with cash is what if the person has their buddy around the corner to rob you once they drive off with the new bought car. In other words someone knows you have a good size chunk of change on you. With BTC you can have the payment sent to a paperwallet that is sitting locked up safely in your Safety Deposit box (or where ever.) I think 1 and 2 would be very difficult to do without first getting people to trust you without any reputation. This is really a conundrum because it is difficult to get people to trust you without you having prior successful trades, but it is hard to get a successful trade without people trusting you. Free samples... duh! Didn't you browse the SR I think free samples would be very costly. It would also open you up to potential scams (people ordering multiple free samples from you). |
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Just imagine you have $600 (which is an unfortunately small amount to "multiply"). Transaction fees and other costs guarantee an investment of $600 will likely have a lower risk-adjusted profit than if you had more. I can't imagine BTCjam or Havelock return anything close to 8% after defaults.
in BtcJam there are a lots of ponzis and doubtful projects, unfortunately it's scammer's heaven Havelock on the other hand, have better projects but many of them pays revenues according sells of each company, but those sells are paid with dollars, so if the company sell 10.000usd in products, then your dividends in bitcoins are a part of this amount. If the price rises, the company income still are 10.000usd, but your dividends in btc will be lower I would not invest in a company whose income are in usd if I expect multiply my bitcoins, but this could be a good opportunity if you have some USD Even havelock has mostly risky investments. Granted they carry less risk then the average BTCJam loan, but still a lot of risk by most people's standards. I think the best way to invest 1 BTC would be via collateral loans. It will require a lot of sweat equity in terms of approving and managing your loans, but the returns are generally very high and the risk is pretty low. |
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Your final balance doesn't look too grand though lol. And you could've just sent 1 bitcoin backwards and forwards to get that amount transacted . Total received is really irrelevant, you just need to pay a lot in transactions fees. He could have pretty easily avoided TX fees buy transferring small transactions (in terms of Kb), and he also could have manipulated this by sending money to other addresses that he is in control of. |
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if they think they wont hold any responsibility for counterfeit items or any other wrong illegal activity they are clearly wrong and shouldnt go about it this way. wasnt piratebay kinda decentralized also and look what happened to it?
Exactly what happened to it? I'm using it this very moment. The point of decentralized here would be that they don't hold responsibility, which is great (based on some sort of trust system from what I've read). but that means they cant collect no profit from it whatsoever? Also if they wanted to advertise on the site that might be the only way they can make money am I right? But still they will have to have a team of lawyers and they will have to share or hand over the network, also it can be shutdown by the higher ups is the next question. Who cant collect profit Piratebay or Openbazzar? I think the point of the latter is not to make any money but it be a free exchange with no fees they people are free to use. I think the point is to be a place where people can buy illegal things from. To say that they do not take responsibility is crazy when they market themselves as being a place to buy and sell illegal items via TOR. |
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There have been charts including this one by MIT:  I think the reason for this change is that people are now spending a lot more to mine bitcoin. As a result they will have bigger bills to pay that they need to sell their mined bitcoin for. In 2009 for example it almost wouldn't even be worth someone's time to sell their mined bitcoin to cover their electric costs. Another likely reason is the fact that most miners use pools to mine. As a result (with the exception of eligius), the found block will have the block subsidy "deposited" into the pool address, and when it is time to pay the miners the reward will be transferred to the miner's address. |
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