A brain wallet is never going to represent more than a tiny fraction of the available key space. If you want a key you can feel safe with for 20 years then you need a proper cryptographic random number based key and you need the "air gap" where the data never touched any hard drive or network adapter.
I create mine from an Ubuntu live CD on an old laptop that I have removed the wifi card and hard drive. I modified the live CD to have vanitygen and my printer drivers and a qrendcode and script that can create a wallet and print it.
The whole thing loads from the CD and is only stored in RAM.
I can be confident my code will not be guessed nor will it be discovered by some hacker. The problem is that paper does not last well, that is where the etched into metal came into my mind.
A brain wallet can in theory represent as much of the key space as a computer can deterministically compute, which is far larger than anything needed. |
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Possibly as a brute force technique, if you plan on living longer than the sun.
It would be interesting to host a several-TB large "address to privkey" database just to show everyone how implausible brute-forcing is. |
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Nor does his argument make sense. Deflation of the money supply can only lower the market cap now compared to then, not increase it.
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The issue I have with 'bitcoin market cap' is that the inflation rate is known. We all know (generally) how many bitcoins there will be on any specific date in the future. When considering the market cap of bitcoin, I use 20m as a ballpark figure. $50/btc will be $1B cap and quite the milestone.
A more important issue I have with the 'bitcoin market cap' is the deflation rate. My best guess puts it around 1.5m bitcoins. That would make the previous record market cap at $101m=(((149m/31.9)-1.5m)*31.9). The current market cap would be about $110.7m=((9.7-1.5)*13.5). Thus, it appears we are at a new all-time high in terms of intrinsic value (Yes, I know the term has all types of issues). Bitcoin's money supply is hyperinflating, not deflating. USD happens to be deflating, but at such a low rate it doesn't really stack up. He's referring to lost/destroyed coins. That's dwarfed by created coins at this rate. |
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The issue I have with 'bitcoin market cap' is that the inflation rate is known. We all know (generally) how many bitcoins there will be on any specific date in the future. When considering the market cap of bitcoin, I use 20m as a ballpark figure. $50/btc will be $1B cap and quite the milestone.
A more important issue I have with the 'bitcoin market cap' is the deflation rate. My best guess puts it around 1.5m bitcoins. That would make the previous record market cap at $101m=(((149m/31.9)-1.5m)*31.9). The current market cap would be about $110.7m=((9.7-1.5)*13.5). Thus, it appears we are at a new all-time high in terms of intrinsic value (Yes, I know the term has all types of issues). Bitcoin's money supply is hyperinflating, not deflating. USD happens to be deflating, but at such a low rate it doesn't really stack up. |
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Alberto = Bitscalper as far as I am concerned. They are both from Italy, they both use the name jjfarren. This is 90% proof that they are one and the same. If we can have IP confirmation from the admins, that would be great too.
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The man has a life after all.
His life IS the Millions of Dollars in Bitcoins that he manages. Try telling that to his family. I'm sure you'll get paid, but pirate can't sit at his computer all day if you want him to stay healthy. Why aren't withdrawals automated then? |
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80+ female? I doubt that  Remember that the sample size is still small, so 1.6% is meaningless (try rounding to the nearest 5% for more accurate results). The group of males in their twenties seems dominant at the moment, supporting the hypothesis that this is a young male-dominant community. |
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Also, ICBIT is not a place for money laundering, so we are not going to enforce any AML measures like ID verification requirement.
This will definitely work. The Bitcoin processing is done in partnership with deepbit.net, the largest mining pool.
This is almost never necessary. simulteneously [sic]
They are certainly not using Google Translate... To place an order, log in to the trading client, enter price and amount in the "New Order" window and click the corresponding Buy/Sell button. This immediately sends your order to the trading engine. You can watch status of your order in the "Your orders" window below (you can click an arrow to increase size of that window for easier browsing).
If your order is accepted by the trading engine, it's status is set to New. If there is not enough money in your account, the order status is set to Rejected and it will disappear soon from your list of orders. When your order is executed, its status is changed to Filled (or Partially Filled in case your order was executed only partially).
But it sounds like it anyways. ICBIT implements the most high-performance trading platform amongst existing Bitcoin exchanges.
ICBIT is capped in performance by exchanges. If what they say is true, then it's definitely a bucket shop. There are a couple other red flags here. They don't have any public information, they don't have a TOS, their Facebook page doesn't exist or their Facebook link doesn't work, and the fact that their RSS only has one post. I suggest you do your due diligence before using icbit.se. |
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Interesting that so far, the ratio of males to females is 11:1. This is much more male-dominant than I expected, and much higher than the forum stats page would suggest.
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Wow...those who paid BTC for ASICs likely have paid in value now 200% what they could have if they just paid in fiat. If price goes up...it could be 300%-500% at least Sucks to be them I guess.  Lesson: Pay in USD. Well - you can do better - say you have 4 BTC. You can exchange 3 BTC into USD, and invest into ASIC, take 1 BTC, go to icbit.se for example, and open BUY order. Then _IF_ bitcoin price will go up - you will still have same amount of profits as holding your 4 BTC and be part of ASIC project :-) No. You'll lose the 1 BTC because icbit.se is a blatant scam. |
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You could log them, then post them on the Internet. Wouldn't be useful though.
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 Blockchain.info All-time 7-day Average Market Cap, 2012-08-16I'm going to take snapshots of this frequently, because I suspect that we're surpassing the record high (back in June 2011) soon, at least well before either market cap (non-averaged) or price will. It'll be an interesting milestone for Bitcoin. Is this just the currently available coins? if so, that would explain why we would pass June '11 cap., without the price passing the $31.90 high. We have nearly Three-million more coins than back then. Yes. It's more accurate because it factors in the Bitcoin money supply hyperinflation. Even more accurate would be to factor in USD money supply inflation/deflation, but that is very small or even negative. |
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Ah. I think I see your problem. You're assuming I am referring to a centralized court system. I am not.
I thought this is what you meant. So how does a decentralised court system work? Is it going to be akin to direct democracy by any chance? Basically, anyone can set up a court. Whether others support the court depends on its PR, strategy, and previous decisions. If the court wishes to employ direct democracy, it can. |
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time for a new invite only forum... oh so glad its in the works...
Where do we sign up?  Emphasis mine... |
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Can you fix the SatoshiDICE software to stop generating a ton of tiny outputs, in the event of a loss? One of the long term drains on resources is tracking unspent coins -- and SD creates 0.00000001 outputs for losing bets. We have to individually track each one of those outputs until it is spent. Of course, it is difficult for users to find ways to spend 0.00000001 BTC, so the obvious database bloat for each bitcoin user results...
I'm not educated on this. Is there a reason why they cannot simply not pay BTC during a loss? Sending a loss would mean people know the difference between losing and dice lag at least Why can't they publish the losses on their website? |
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