Hey could either of you send me an invite to Ruxum please?

It's certainly a nice idea in principle. We do need more transparancy around share ownership, investment brokers, ponzi schemes etc.

I think he does have at least a million coins, it's not hard to see how this may have happened. I'm sure some clever hedge fund manager bought like crazy at <$1 as well and probably owns a sizeable chunk.

But your premise that's it's somehow unacceptable for anyone to hold this large a proportion of the currency is based around the notion that Bitcoin will somehow replace all fiat currencies one day. I'm sorry to break your heart, but this won't happen in our lifetimes. The sovereign states will always retain fiat currency in some form, it's what keeps them in power.

In any case, they have to sell their coins sometime, and then the "problem" goes away.

At worst, Bitcoin will fade away in a few years time and people will move on to something else. At best, Bitcoin is going to become an established worldwide online alternate currency worth hundreds of billions. I suspect something in the middle will be the reality.

In the best-case scenario, Satoshi may yet be worth billions, but I'm ok with that. He's got to do a better job of it than the Rothchilds or any of the other slave owners from the 1800s who bought and sold the world, simply by being in the right place at the right time, hmm?

I'm amazed that something like Bitcoin can survive in the wild, totally open source without being hacked to peices. The guy is clearly an absolute genius in the field of cryptology and macro economics, I bet even he can't believe this shit actually worked though.

Much respect to him, and I'm sure he's far too clever to let Bitcoin die or do anything to negatively affect the value of the currency when he's holding over a million coins.

Just a friendly warning, if you do that enough times with enough money, your bank & the inland revenue are going to start asking some questions about what it is that you're doing...

All true, but we do have over 20 years to think of these things. Please don't worry about it right now.

Sir, your magic beans, I will take 6!

Where do I send all my money?

I'm amazed.

Looking at these threads I can tell you who is really rubbing their hands about bitcoin...

XFX, Sapphire and ATI. Suddenly all their old 5xxx series GPUs are flying off the shelves! 

Nothing much happens at all. You wait a few days for the difficulty to come down and transactions speed up again.

I'll never be accepting Paypal again that's for sure.

I got scammed today from someone using a gmx.de email address.

Pure greed and stupidity on my part really, never trade to anyone who does not respond to your emails to them, and never trade with anyone with a gmx.de email address (common address used by international scammers).

I think they should simply remove Paypal as a payment option from Bitmarket to be honest. So many people just get taken for a ride.

This is the whole reason we even have bitcoin in the first place, because of Paypal's ridiculous policy of "steal from the seller at all costs" and "always side with the buyer".

Even if you can prove that you sent the Bitcoins via the internet, and even though their "seller protection policy" is supposed to cover "digital goods", the moronic drones they have working for them in "Customer service" (pah, some service) won't accept *anything* other than a postal tracking number to prove that you posted the item... Slightly difficuly if you never posted anything.

Maybe if you are going to accept Paypal, accompany every sale you make with a recorded delivery envelope saying "thanks for buying my bitcoins", then at least you have a tracking number to give them....

I refuse to even get involved at this point. I am slightly concerned about the lack of activity from tawsix though. Has this all got a bit much for him?

This is a very good pool, certainly seems to be blessed with very good luck for a pool this size

I like the new design of your site too. I just love visiting it every day and checking how much my balance has increased

Yeah and the launch costs are just the beginning.

An android phone would last about 5 minutes in space. You have to use "space hardened" composites for your CPU, RAM etc, normal silicon chips simply don't operate in the radiation of space. NASA recently upgraded to space hardened 486 chips, so they may have some old space hardened 386 stock laying around somewhere you could buy for a few hundred grand?

Then there's the issue of communication. Cubesats dont have antenna dishes or long range comms capability, so they have extremely limited communication with earth. Generally radio is used, and the satellite is in communications range for a few minutes per day as it passes over a particular spot on the earth. Communication is strictly one-way and limited a to a burst of a few hundred kilobytes at best.

I suppose you could place the Cubesat in a geostationary orbit, meaning it would more or less stay in communications range at all times, but only from one particular place on the earth, which makes it all a little pointless, and I'm not sure how far out it would have to be from the earth to be geostationary, and if you could effectively communicate when the sat was that far out...

TL;DR - There's a few interesting applications you could use a cubesat for, but I don't think hosting a Bitcoin wallet is among them.

Owning your own wallet.dat and having the bitcoin client running on your own machine is absolutely fine for the technologically inclined, but this methodology is totally at odds with the mainstream.

Normal people have big problems with security on their home PCs, they routinely forget even basic passwords or write them down and stick them on the fridge. Most have trojans of some kind installed, and email phishing scams frequently work because the general public is too dumb to realise when they are being scammed. Having mainstream users look after their own wallet.dat and be completely responsible for the security of it is a recipe for disaster.

In addition to that, the home desktop is becoming a thing of the past. More and more people just have a home laptop, a work desktop, a smartphone and maybe a tablet too where they access the internet, so the idea of a computer which is always on is totally alien to many, let alone one that has to be on so they can access their bitcoins and spend them.

People are getting used to having their Gmail wherever they are, and being able to log into their online banking, Paypal account and so on from any device, regardless of whether there is a particular service running on their home network at that particular moment.

If we are to make Bitcoin a mainstream success, the only way to do so is with web-based or cloud-based wallets (accounts) which users sign in and out of like their Gmail or Paypal accounts. We must have sites like mybitcoin, but ones which are trustworthy and secure.

One setback should not deter us from the goal of simple to use, web based Bitcoin wallets. We must not shy away from learning from the mistakes of others.

Yeah, this is all a little OTT for me. Admittedly the non-reversable and semi-imaginary status of Bitcoin makes it a hugely attractive target for scammers and theives, but just don't expose yourself to too much risk and you should be fine.

Agreed.

If I had a Bitcoin for every "alternative to Bitcoin" that was suggested and claimed to be the BEST EVARR!!!11, then I'd be almost as rich as the early miners

We're sticking with Bitcoin. End of story.

Once cold fusion reactors are here, electricity will be limitless and unmetered anyway, so what's the problem?

No, this is a stupid idea.

If it got to the point where the only usable copy of the blockchain was stored in a deep space satellite, it would be worthless anyway.

Hi, I'm starting an alternative to BlowjobCoin called BJCoin. It's exactly the same as BlowjobCoin in every way except miners get paid 100 coins per blowjob instead of 2!

This will definitely work and I will be a millionaire because I got in at day 0!