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1  Bitcoin / Development & Technical Discussion / Re: what (technically) enforces bitcoin not to exceed 21 million cap? on: February 18, 2014, 04:44:30 AM
I have heard somewhere core dev's salaries are paid in bitcoin by satoshi from the premined bitcoins, though I don't remember the source, is that true?

That is absolutely not true.  There are no pre-mined coins in bitcoin.
(And "Chancellor on brink of second bailout for banks" in the genesis block is the proof.)
2  Bitcoin / Development & Technical Discussion / Re: Establishing the Trustworthiness of Nodes without External Tokens (eg Passports) on: January 29, 2014, 05:33:33 AM
2) Flooding networks with peers that look unrelated but actually aren't. Tor has the same problem, so I'm interested in solutions that generalise to all P2P networks. For these proofs of propagation etc are irrelevant. For Bitcoin it might be possible in every case to come up with fancy tricks based on proof of work, though remember someone has to actually write the code for all of these ideas! But I don't see how to avoid the issue with Tor. There just isn't any reasonable way that the Tor directory operators can know if nodes are related today, and if they are, Tor fundamentally breaks. Given that GCHQ has been tasked with breaking Tor (they're thinking of the children you see), advanced sybil attacks on it seem more likely than not in the near future.
Hrm. The problem is that even if the network decided to ask for passport blind-signing, that solution doesn't work for this use case because the attacker can issue passports.

On the other hand, it's a thought. If you had to sign with an identity that was fundamentally difficult to create due to some other consideration...
3  Bitcoin / Bitcoin Discussion / Re: What is the right and fair way to stop Mike Hearn? on: January 23, 2014, 09:56:10 PM
Lets be honest peter we all know that no one is going to use the openPGP code, bitpay has already come out in support and that will make their merchants use that and coinbase (which I love and have great support for) is going to use it since Gavin is on the board. I mean to implement openPGP code would waste my funds and my time.
If PGP is a nonstarter, what would your preferred solution be to the problem which SSL integration purports to address?
4  Bitcoin / Bitcoin Discussion / Re: Mike Hearn, London 2014 [video presentation] on: January 23, 2014, 09:49:37 PM
It's funny. Five years later, and we're back to the ancient issue of Sybil resistance. Nakamoto managed to solve that for "voting on the history" applications, but now the gossip network itself is at risk.

Isn't that odd? Proof of work works. Is it really that difficult to say something like, okay, if you can hit a target that's some preset fraction of the network difficulty, you get to play? Or is there some other issue there, that would prevent that approach from working?

I watched the whole video and he did say it was required. So I doubt you watched the video. Also it is anonymous not one is saying different, we are just saying why do we need government ids to use our nodes. He didn't say at all that you will be content to be defrauded, he is saying use it or don't use bitcoinj or bitcoin-qt. You clearly need to use your listening skills much more, he used that as example he never said you can use one or the other.
So the thing about these proposals is that they're all about the gossip network, not the blockchain. And the thing about the gossip network is that mediators and intermediaries are easy to create. A Bitcoin gossip network that only allows people with passports to be a full node is worrisome to me too. But - and this is key - all it takes is one authenticated network user who then allows non-passported connections for anyone to avoid this. And there will be plenty of people (you are one example!) who will be unable/unwilling to create a passport proof, so that gossip network will have plenty of peers and we can continue as before.

His tor proposal was to stick in tor in his bitcoinj, guess what I already use tor in the way he describes so he is just making it easier for people that probably have no clue what tor is or how it protects you on the bitcoin network/internet.
Good. Anything that can increase the default anonymity of the system is a win anyway, as far as I'm concerned. If these people don't even know what is a "Tor", they'd never have used it, and the whole network suffers from the leak of their information. Tor by default is herd immunity. Not revolutionary, but a good idea.
5  Bitcoin / Bitcoin Discussion / Re: What is the right and fair way to stop Mike Hearn? on: January 23, 2014, 09:09:24 PM
What is the correct and fair way to remove Mike Hearn from the Bitcoin development?
If you mean bitcoind development, it would be by convincing the other developers to no longer accept his patches, and convincing the community to not use his patches either. The critical matter, as always, is one of trust.

Here's a good start: why not make the argument in this thread, right here and now, as to what is so "out of line" about "Mike's actions" that the community ought to reject him/his work?
6  Bitcoin / Development & Technical Discussion / Re: [survey] What are the ideal properties of a quantum RNG? on: January 22, 2014, 08:36:51 AM
In order for a device like this to be useful in ways that a bag of dice is not, it has to be able to directly communicate the generated random bits to its consumer somehow. I'm having a hard time figuring how to do that with "parts from Radio Shack".
7  Economy / Speculation / Re: Vegas casinos now accepting Bitcoin on: January 22, 2014, 07:37:45 AM
Short-term neutral or bearish (since they're using an instant-sell currency exchange service on the backend), long-term bullish (since this is another example of the real-world usefulness of BTC marginally increasing).
8  Economy / Speculation / Re: Warren Buffet Investing In Bitcoin on: January 22, 2014, 07:33:43 AM
And once he understood it, he would buy it.
Have you ever read his discussion of why he considers gold to be a bad investment, no matter what happens to be going on with the price?
9  Bitcoin / Development & Technical Discussion / Re: CoinJoin: Bitcoin privacy for the real world on: January 18, 2014, 09:44:04 AM
You would never sign it.
But how would you know? If only one Wikileaks donation makes it into the final txn,  wouldn't each participant just assume it was their donation? How could they tell otherwise?
10  Economy / Speculation / Re: Confirmed Bad News Sources Thread - No FUD, Just Facts!!!1 on: January 13, 2014, 07:56:21 PM
Actually Peter Schiff said exactly that!  That overstock accepting bitcoin as payment is bad news for the price because HODLERS  ( he didnt use that word) will spend their coins and will flood the market... Wink
In seriousness? That's not a bad argument; any big new retail outlet accepting BTC via Coinbase-like services (which immediately cash out to fiat) might easily end up being short-term bearish, because it creates a situation where people who want to spend instead of sell are more likely to spend in a way that'll also cause a sale. On the other hand, it's long-term bullish, because it increases the usefulness of BTC... so it's not bad news for Bitcoin. Just for tomorrow's pricepoint.
11  Economy / Speculation / Re: Confirmed Bad News Sources Thread - No FUD, Just Facts!!!1 on: January 13, 2014, 07:47:44 PM
Proudhon, man, c'mon, really? Are we really doing this?

I mean, it's nice to see that you're optimistic about BTC again, but this kind of caricature is going to get a bunch of the newer folks thinking you're being sincere.
12  Economy / Speculation / Re: This might just explains the whole Gox situation (included poll, please vote) on: January 13, 2014, 06:50:43 PM
After gox announced doubling the daily limits for PLN I tried selling 1BTC there for PLNs and withdrawing the money (with SEPA). Two months ago. No money in my account yet.
As anecdotal as this might be, it certainly changes my prognosis. If SEPA is delayed by months as well, then I can't think of any prognosis for Mt. Gox other than death. Either they can't find a bank that's willing to work with them (in which case they won't survive), or they're secretly insolvent (in which case they're already a corpse walking).
13  Economy / Speculation / Re: This might just explains the whole Gox situation on: January 13, 2014, 06:43:56 PM
I asked this before, but I will ask it again, do you guys still trade at gox and do you have funds sitting there ? for people who are waiting for withdrawals, how long are you waiting now ?
I have a $1000 withdrawl by international wire that has been pending since July. I'm reasonably certain at this point that it is money I will never see again.

All the rest of my funds were withdrawn as BTC around that time, and I haven't deposited anything since.

As for Mt. Gox's future? I don't think they have a future in BTC/USD trades, and don't understand why US folks continue to use it; there is simply no way to get your money out to a US bank account, and there's no indication that they'll ever find a solution to that. However, the last I heard, SEPA and domestic (Japanese) wire withdrawls were still operational, so it's possible they can continue as an exchanger for the EU and Japanese markets.
14  Economy / Speculation / Re: How many kilos of sugar with 1 BTC in 2045? on: January 13, 2014, 06:36:07 PM
0 (zero). SHA-256 will be cracked much sooner than 2045.
Then, I assume, you expect that Bitcoin's users will not be able (for whatever reason) to switch to another proof-of-work hash function when SHA-256 begins to show significant signs of weakness?
15  Economy / Speculation / Re: The age of KARHU ye refuge in alms to the KARHU! on: January 09, 2014, 09:33:41 PM
"Talk is cheap; truth is worth its weight in gold."

BTC liquidity swap APRs are under 3%/year on Bitfinex, the same as they've been for months. If you believe this is a bear market, put your money where your mouth is and take out a short position, instead of yapping about it on a forum.
16  Economy / Speculation / Re: Part 2: Answer to "What will the China government do to bitcoin?" on: January 09, 2014, 07:12:19 PM
Err... ignoring the fact that fiat (what you like to call "real money") itself is controlled by a single entity, thus requiring trusting some third party by design. Wink
National currency has a single point of required trust, yes, but that just means vouchers for national currency have two.

Of course, if some central bank itself were to decide to print some of its national currency as blockchain assets, the matter would be resolved. But that's not a likely scenario, I think.
17  Bitcoin / Press / Re: [2014-01-07] Huff Post: Why the NYC Bitcoin Center Matters on: January 09, 2014, 12:15:31 AM
wall street must be ready to embrace bitcoin, how can they allow this to happen just 100 feet away?
Is the physical proximity actually relevant? If Wall Street wasn't ready to embrace Bitcoin, would it matter that this was happening 100 feet away, rather than e.g. on the other side of Manhattan?
18  Economy / Goods / Re: Calling all board game geeks! on: January 08, 2014, 03:26:27 AM
Is race for the galaxy good?  I've never played it.
I played it once and enjoyed it. But then, I'm not a connoisseur by any stretch of the imagination.
19  Economy / Speculation / Re: Macau, Vegas, Bitcoin? on: January 08, 2014, 12:28:15 AM
That depends. What is it about Macau or Vegas that makes gambling there different from gambling on a website?

Is it the environment? The dazzling world of chiming slots and clacking chips and physical balls spinning in physical wheels? The ability for people to window-shop at games, and sit down at ones that seem interesting? If that's the differentiating factor, then such deployment would mean that bitcoin would be used by people, and in ways, that it would not otherwise be used. Velocity increases, driven by use and usefulness, and thus, so too does valuation.

If it's just that Macau or Vegas is a place where gambling is permitted and trustworthy, well, there's online solutions to that already. Trust-free gambling for bitcoins is something people can do right now. So it'd only be relevant to the extent that Bitcoin's presence at such institutions increases its mindshare and people's impression of it as a "real" thing.
20  Bitcoin / Press / Re: 2014-01-07 CNN International - World's second Bitcoin ATM to open in Hong Kong on: January 07, 2014, 10:18:38 PM
Unfortunately, I can't get particularly excited about "to open". We've seen that before, and a lot of the time the opening never materializes.

Call me back when the first customer uses it.
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