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2141  Bitcoin / Press / Re: Bitcoin press hits, notable sources on: August 16, 2011, 02:40:50 PM
Quote
16th August 2011
Will next-gen smart money kill cash?
By Nigel Brown
http://www.humansinvent.com/#!/2130/will-next-gen-smart-money-kill-cash/

2142  Bitcoin / Bitcoin Discussion / Re: The mysterious bitcoin flower opens once a day and reveals a free bitcoin on: August 16, 2011, 01:11:46 PM
CDT?  Is that Australian, Cuban or North American?

UTC is so much more internet friendly... I don't understand why so many people persist in using these parochial abbreviations on global websites (especially when it's not obvious what country the site is in or aimed at)

2143  Bitcoin / Bitcoin Discussion / Re: Is Technocash legit? [edit: yes, yes they are! If a bit slow] on: August 16, 2011, 07:33:04 AM
I deposited some more yesterday.. it took just under 24 hrs this time.  nice!

bank-to-bank transfers I've done within the country usually take longer than that..   I'm surprised that it got to a Japanese account so quickly, after going via Technocash as an intermediary. 
Maybe technocash do the international part of the transfer quickly by having a credit agreement with mtgox.. or by settling in BTC Wink

..Or maybe the Australian banks are finally realizing that to compete  they have to speed up their game?   (not likely)

2144  Economy / Speculation / Re: A lot of asks vanished on: August 16, 2011, 01:27:50 AM
Does anyone know if you need the money on mt. gox to place bid order quantity? Like if someone placed a 10K bid at 10, would he need all that money on hand at mt gox to place it?

Yes.. you need the money on hand for it to show up in the bid list.
mtgox lets you place an order without the covering funds - but these orders don't become active/visible until the covering funds materialize from a sale or deposit.

2145  Bitcoin / Press / Re: Bitcoin press hits, notable sources on: August 15, 2011, 11:59:59 PM
Quote
Are virtual currencies akin to trading cards or the way of the future?
Written by  Sarah Dale-Harris
Posted Date: August 15, 2011

http://www.canadianlawyermag.com/3826/are-virtual-currencies-akin-to-trading-cards-or-the-way-of-the-future.html

Not a bad article overall.. but has some slight misunderstandings about the nature of the 21 million coin limit, and doesn't acknowledge bitcoin's divisibility.. hence the poor comparison to trading cards.


2146  Bitcoin / Bitcoin Discussion / Re: Is Technocash legit? on: August 15, 2011, 07:40:06 AM
I've used them 3 times for AUD deposits into mtgox.  For two out of those 3 times I had to email both mtgox and technocash to find out "where my money went".  Three days my a$$.

But the money always arrived eventually.

4 times, 3 different bank accounts - so far all approx 3 banking days.   Maybe I've been lucky.
2147  Economy / Speculation / Re: "The Investor" on: August 14, 2011, 11:56:35 PM
This person obviously had the dough to bring this entire thing back to life. My personal wish is that it stabalizes at $20 for the next couple of months after Bitcon with a slow upward trend. That would be the best thing that could happen to Bitcoin would be a period of stability and growth.

If you genuinely wish for such a high valuation - then why are you putting forth the idea that the current value is on such shaky ground that it's open to manipulation at the whim of a single investor?  




2148  Economy / Speculation / Re: bid depth vs 5.14.2011 - why I'm bullish at $10 on 8.14.2011 on: August 14, 2011, 04:58:33 AM
I don't know where the hell it's headed or who is in control of how many or what bitcoins.

Anyone who thinks they know what's going on is either delusional, or simply hasn't yet come to the end of a run of chance correlations between their pet theories and the price.

That's my pet theory.
2149  Bitcoin / Press / Re: Bitcoin press hits, notable sources on: August 14, 2011, 01:52:04 AM
Quote
12th Bitfilm Festival invites entries
http://ibnlive.in.com/news/12th-bitfilm-festival-invites-entries/175349-60-120.html


"This is the first German festival with a competition for films made for viewing on mobile phones and the first worldwide festival with a competition for real-time demos. Interestingly, this festival for digital films will be the first in the world to pay the prize money in Bitcoins, the new digital currency."

2150  Bitcoin / Bitcoin Discussion / Re: Paper Bitcoins on: August 14, 2011, 01:47:40 AM
I wonder if it would be obvious if you scratched it off, read the code, then applied a new scratch-off label over the top.
I guess it depends how thick the labels are.
If they're quite thin - then it'd make it a little too easy to scam people with these.
2151  Bitcoin / Bitcoin Discussion / Re: Mt. Gox acquires Bitomat.pl - consumer protection in the free market! on: August 11, 2011, 02:44:09 PM
Bitcoin bailout... interesting.  should be bullish for the bitcoin price in the short term

It's not a bailout when done with private money. It's just an acquisition between voluntary parties. Bailout is a terrible concept/term and is best reserved for the wretched government practice.

I agree.  This is a purchase of good will - not a bailout.

Mt Gox gets not just the good will from it's new Polish customers - but from the wider bitcoin community too.
It's a show of confidence and strength. Just good marketing really.
2152  Other / Off-topic / Re: Stop misusing the term hacker people on: August 11, 2011, 02:36:21 PM
Maybe I'm old school,  but when I was growing up the term "hacker" didn't mean the same thing it means today.

When someone used the word hacker in the 1980's, 1990's and even the early 2000's it meant someone that disassembled something, and rebuilt it better beyond it's initial design.    For example if someone developed a way to compress a proprietary video stream by 90% but retained 100% of it's clarity then that guy would be considered a hacker...  because he improved an existing technology.

It didn't apply to someone that stole from eCommerce stores...  the term hacker was never used in that context,  the term used was thief or criminal.

If someone goes in and clears out an exchange of it's bitcoins,  that's not a hacker,  that's a criminal.   It's just bugging me because the terms are mutually exclusive.. and I'm seeing them thrown around as if it's the same thing.

I think it has both associations - even going way back.
To 'hack' something is to make use of it in a way not intended during it's design.

This can be an act of wizardry in improving something - or combined with an act of antagonism in breaking/defeating/stealing something of somebody else's.
In the context of defeating a security device/system - whether it's 'good' or 'bad' is often debatable.

Even in the sense of 'improving' something...  to say something is a 'bit of a hack' or 'was hacked together' ... implies a certain rough practicality and taking of short-cuts in comparison to up-front design.
It's little wonder that the similar rough methodologies and reverse-engineering of systems should be termed 'hacking in' with reference to gaining unauthorised access.

I don't see how you can claim 'hacker' and 'criminal' are mutually exclusive.  They're attributes/labels that *can* both be held by one person.
It is sad that the media often seems to conflate 'criminal' and 'hacker' - not realizing that 'criminal' is an additional attribute held by a minority of hackers - but they've been using 'hacker' to refer to people breaking into computer systems since the 80's if not earlier.

I think that by now we just have to accept that 'hack', like 'fuck' - is a very versatile word.



2153  Economy / Speculation / Re: MTGox buys bitomat.pl on: August 11, 2011, 12:11:32 PM
I think the feel-good factor for this move will extend beyond Poland.

It's now one less thing the rabid anti-bitcoiners can use to naysay us with.
Ok - it's still bad it happened in the first place, but that a transaction like this can take place in the bitcoin community - a form of free-market 'consumer protection'.... that's just awesome.


Yeah, just awesome that more of a "decentralized"coin gets centralized under one exchange! Just awesome! >.<

heh.. funny you should mention that.. I noted my reservations on exchange consolidation on the corresponding thread in discussion.

Nevertheless..  the stain on the entire bitcoin ecosystem caused by the bitomat failure was enough that I think on balance this is good.
There are still plenty of opportunities for exchanges to pop up and compete.

2154  Bitcoin / Bitcoin Discussion / Mt. Gox acquires Bitomat.pl - consumer protection in the free market! on: August 11, 2011, 11:58:43 AM
Mt.Gox, The World’s Largest Bitcoin Exchange to Acquire Bitomat.pl, Compensate Loss Of Bitcoins
https://www.mtgox.com/press_release_20110811.html


This is just awesome news.

I'd prefer there were many independent exchanges rather than too much consolidation - but kudos to Mt Gox nonetheless!

2155  Economy / Speculation / Re: MTGox buys bitomat.pl on: August 11, 2011, 11:38:54 AM
I think the feel-good factor for this move will extend beyond Poland.

It's now one less thing the rabid anti-bitcoiners can use to naysay us with.
Ok - it's still bad it happened in the first place, but that a transaction like this can take place in the bitcoin community - a form of free-market 'consumer protection'.... that's just awesome.

I doubt the impact on price will be immediate or large.. but it may make a difference in how some of the upcoming news coverage is slanted.. so it's a good long-term signal.
Good move by mtgox for sure.



2156  Economy / Speculation / Re: MTGox buys bitomat.pl on: August 11, 2011, 11:33:45 AM
It just goes to demonstrate how poorly 'Tom Williams' handled the mybitcoin incident.

If he wasn't so bloody precious about his anonymity - he could've potentially come up with a similar arrangement with some investor.

mybitcoin would have been worth much more than the Polish exchange too. I can't believe he trashed that brand.. all over a mere 75,000 coins or so.

2157  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANNOUNCE] Ixcoin - a new Bitcoin fork on: August 11, 2011, 10:41:31 AM
Wow at difficulty 256 I haven't generated a single block in the last 40 minutes with 4.1 GH/s. Someone is really raping the ixcoin network. Somewhere in the 150 GH/s range.

I hope it's a 'drive difficulty up - then withdraw' attack.

This Ixcoin is such a lame effort. 

If you're just going to tweak numbers.. then how could you miss the opportunity to set the coin limit to 42 million?
(That bitcoin is 21 million has always made me slightly suspicious that Satoshi only intended bitcoin to be the half-baked test run..  what sort of geek doesn't choose  42 where an arbitrary number is called for in a publicly visible place?)

Seriously though..  I thought the next fork might be something that did some real modifications along the line of what Ben Laurie was talking about in his paper
'An Efficient Distributed Currency'.
I'm not convinced such a system would be better than bitcoin, because it implies a bit more centralization and/or trust amongst peers - but it would be different enough to be interesting at least.

Ixcoin - not so much.  I'll buy one coin if it ever trades at approximate parity with the USD for more than one day.
(I was interested in bitcoin before it got to parity - but it had novelty,ingenuity and obvious brains at the helm - Ixcoin appears to be driven by a greedy regexp monkey)





2158  Other / Beginners & Help / Re: Golden Age of Mining on: August 10, 2011, 02:42:22 PM
Right now.. you can easily mine over 9000 (literally) satoshi per minute on a single half-decent GPU!
People will surely look back at this as a golden age of mining.
2159  Bitcoin / Press / Re: Bitcoin press hits, notable sources on: August 10, 2011, 12:22:32 PM
According to this.. we're all just being manipulated by islamic radicals..  

Quote
Pat Dollard’s “Night Watch” Ep. 1 Jihadis, Bitcoin, and Anonymous/Lulzsec

Anarchy, Islam & Bitcoin: The New World Order Of Terror


http://ameristroika.wordpress.com/2011/08/09/pat-dollards-night-watch-ep-1-jihadis-bitcoin-and-anonymouslulzsec/

tl;dr  

taliban

herp
derp

bitcoin  -  new world order of terror

herp
derp.


And being episode 1, absolutely not notable, but thanks for wasting my time on the "Bitcoin press hits, notable sources" thread. *yawn*

It's notable enough as a FUD datapoint for bitcoin being associated with terror funding (on scant evidence) - even if it'd come from someone less more obscure than Pat Dollard.

As for not reporting multiparters on the 1st part - don't blame me for wasting your time - blame the source.
If episode 2 surprises, and needs any more summary than "herp derp" - feel free to report back.
 


2160  Bitcoin / Bitcoin Discussion / Re: [LOCAL AMERICAN NEWS] Bitcoin: The future of global commerce or ideal drug money on: August 10, 2011, 04:41:12 AM
Well if you think that article's bad.. 
check out this Pat Dollard nutbag:

“Bitcoin”: Anarchy And Islam Join Forces To Form The New World Order Of Terror
http://patdollard.com/2011/08/coming-next-monday-the-debut-of-a-new-investigative-series-and-radio-show/

I hope nobody actually listens to that guy.


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