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Bitcoin / Press / 2012-09-26 guardian.co.uk - Download, print, fire: gun rights initiative harness
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on: September 26, 2012, 10:27:05 PM
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Single mention. Not a new story - but illustrates Bitcoin's use as a bypass system. Download, print, fire: gun rights initiative harnesses 3D technology Project aims to let anyone print a gun in their own home, raising new concerns about the legality of homemade firearms Alexander Hotz 2012-09-26 http://www.guardian.co.uk/world/2012/sep/26/3d-printing-guns-legal-issues-us-law?newsfeed=true... Indiegogo asserted that the group violated company policy, claiming that the project is related to the sale of firearms. But, as Wilson is quick to point out, Wiki Weapon isn't a for-profit venture and doesn't intend to ever sell tangible firearms. The group's aim is simply to publish a schematic, which would be available online for anyone free of charge. Despite this hiccup, Defense Distributed still managed to raise the money it needed from donors by using the direct deposit platform Bitcoin. ... |
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Bitcoin / Press / 2012-09-25 futurezone.at - Bitcoins: sex, drugs and contract killers
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on: September 25, 2012, 06:34:42 AM
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A rather negative piece from Austria (in German) Bitcoins: sex, drugs and contract killers Michael Leitner 2012-09-25 http://futurezone.at/digitallife/11181-bitcoins-sex-drogen-und-auftragsmoerder.php... The alternative currency Bitcoin has been praised by many experts to be a fair and transparent alternative to the current monetary system. But now more and more pitfalls are being revealed that could prevent the currency and its concept from being a far-reaching success. ... Within a few months the value of a Bitcoin at the largest Bitcoin exchange Mt Gox, shot from one to almost 30 U.S. dollars. The rally, however, on the 16th of June came to an abrupt end. A hacker was able to steal nearly 500,000 Bitcoins and threw more than 100,000 of them on the market. This broke the price massively, at times it was even at 0.01 USD per Bitcoin. ... Sex, drugs and weapons - the currency of the darknet ... According to Kay Hamacher, an IT Expert from the Technical University of Darmstadt, the Bitcoin model is in any case, doomed. The problem: Because Bitcoins are limited to 21 million units, and these, like real money, can be lost, it will eventually result in a bottleneck. "You can talk about the probabilities, but finally Bitcoin will disappear one day." ... |
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Bitcoin / Press / Re: 2012-09-03 digitaltrends.com - Who Needs the FDIC? (Comedy gold!!!)
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on: September 25, 2012, 01:59:10 AM
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Good catch.
It's interesting to me that we're still seeing journalists in the tech field with massive misunderstandings around Bitcoin.
If the tech journalists don't yet even understand it (whether they like it or not is another thing), it seems we have a long way to go for more widespread adoption.
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Bitcoin / Press / 2012-09-24 ethz.ch - Better security for the internet currency Bitcoin
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on: September 24, 2012, 06:45:02 AM
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Swiss Federal Institute of Technology Zurich. Better security for the internet currency Bitcoin Felix Würsten 2012-09-24 Paper 'Two Bitcoins at the Price of One? Double-Spending Attacks on Fast Payments in Bitcoin' Elli Androulaki Ghassan O. Karame Srdjan Capkun http://people.scs.carleton.ca/~clark/biblio/bitcoin/Karame%202012.pdfThe internet currency Bitcoin was created in 2009. It should offer the same advantages as cash. The new electronic currency has an increasing number of supporters. But ETH-researchers found out, that there is a securitiy problem. They also have a suggestion, how this problem could be solved. ... Together with Ghassan Karame and Srdjan Capkun, Elli Androulaki, a postdoc at the Institute of Information Security, managed to demonstrate that there is actually a security loophole here, even if it has never been exploited in concrete daily life. With an elaborate configuration, the buyer can actually spend his electronic coins twice: first, he buys the goods he desires; then he transfers the same amount to his own account. The problem as far as I can see is that of double-spending attacks against vendors who accept zero-confirmation transactions. I've seen this (or very similar) discussed around the forums before - so the wording of this article seems a little misleading to me in that it seems to imply it's a new discovery. This paper looks like an interesting technical analysis of this (IMO well-known) issue, with some useful figures and will presumably be helpful for those implementing zero-conf risk-reduction strategies e.g Our experiments in Section 4.4 show that the average
time for a peer to receive both TRA and TRV is approximately 3.354 seconds
would seem to suggest that a point of sale system could subscribe to some sort of double-spending monitoring system which might give the all-clear after some reasonable small wait time (I'm guessing somewhere around 5 seconds might be reasonable in terms of risk vs convenience?) |
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Bitcoin / Custom hardware / Re: "Avalon" ASIC, announcement & pre-order start. VERY important notice updated
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on: September 23, 2012, 09:00:29 AM
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How can that solve the issue? What if another networking issue hits the 2nd wave?
I would have much preferred to pay for my order 4 days ago when I first e-mailed you. Why can the people who have already showed interest not reserve units? This seems a little unfair, as the number of units that I wanted have been factored into your plans, only for them to be purchased by somebody else.
+1000 Yeah. Very frustrating. I was trying immediately the countdown hit zero - but have only managed to even get to the shop part now. |
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Bitcoin / Bitcoin Discussion / Re: Bitcoin in tv show -The Good Wife - Episode 3.13 - Finding Mr. Bitcoin
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on: September 23, 2012, 02:11:44 AM
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LOL where the hell were you guys when this aired? It was HUGE then. Jim Cramer from MadMoney was even on the show "testifying" about Bitcoin What's LOLsworthy here? I created this thread well before it aired and it looks to me like this thread was reasonably necro'd because the ep is only now being televised in Italy with a different title. I find it peculiar that the Italian TV execs chopped 'Bitcoin' from the title - as the episode seems to be known in English by 2 titles, both containing the word Bitcoin. 'Bitcoin for Dummies' and 'Finding Mr Bitcoin' |
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Bitcoin / Mining speculation / Re: blowin' yer mind right now
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on: September 22, 2012, 08:47:54 AM
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Are you ready to have your minds blown? I just realized something.
Mind blown! You know how BTC has been going up and up and up? You know how there's $1.2+ mil in pre-orders at BFL and the initial ones were BTC-only? Put 2 and 2 together. As soon as they start to be released, BFL is going to sell off all that BTC and miners are going to sell their BTC again. I think it's gonna fall pretty hard. If you somehow think this is not true, ummmm, according to MTGoxLive, $1.2 mil USD is exactly 1 shit ton of money  Oh.. false alarm :/ I've bought a few pieces of mining equipment for bitcoin. I've never felt the need to sell BTC after getting them running. I mine to support the network and to protect my BTC investment. Break even on the equipment cost is an aim - but as long as it's close I'm pretty cool with it. While I'm sure there are a few people who have outlayed so much on mining FPGAs / ASICs (or have such high electricity expenses) that they need to sell a large slice or all of the BTC they mine; I don't assume that this is true for the majority of miners. There may be many people for whom the cost of mining rigs is relatively small and who mine to add security to the network (whilst increasing their BTC savings) so are in no rush to convert their mined BTC to some other currency. |
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