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1161  Bitcoin / Bitcoin Discussion / Re: Flexcoin Invites on: July 30, 2011, 03:10:35 PM
Alright, I am moving some of my money to flexcoin. It will be a small amount though. If there is more online wallet/bank service, I will also move small amount of money depending on how well the questions are answered.

Never have all your money in one basket.
1162  Economy / Economics / Re: So I met a guy who makes Algorithmic Trading Programs for High Frequency Trading on: July 30, 2011, 03:06:19 PM
Let face it, there will be an exchange that allow bots even if all the other exchanges will not. Bitcoin economy is a free market.
1163  Bitcoin / Bitcoin Discussion / Re: MyBitcoin.com - hosting provider: leaseweb.com on: July 30, 2011, 03:02:28 PM
hi!
this is to all of you who have get your funds stolen by mybitcoin.com

mybitcoin.com's hosting provider is leaseweb.com
you can contact them, or the police saying that mybitcoin.com have stolen your bitcoin
it is likely that they will try to contact the onwer of the site, tom williams.

please contact them at:
http://www.leaseweb.com/en/about-us/contact

and please remember mentioning:
mybitcoin.com
83.149.112.133, its there ip
tom williams, the owner of the site.

i hope you get your funds back. Smiley

Let wait and see what happen.
1164  Bitcoin / Bitcoin Discussion / Re: Flexcoin Invites on: July 30, 2011, 02:41:12 PM
You will not do fractional reserve banking, correct? Do you have that in your TOS? The insurance won't mean a thing.

I think this would clear it up for you.

http://www.flexcoin.com/?page_id=148

70% of the fees collected are disbursed to the account holders as interest payments, based on the following formula…

(your account balance / total balance of all flexcoin accounts) * ((all fees collected – miner fees) * 0.7)


To answer your question we don't loan out bitcoins..  way to risky


But do you have it in your TOS that you don't do fractional reserve banking and that it is your responsiblity to ensure that the balance shown is actually what you have?

Also, do you have a process for reimbursing people's bitcoin in case of successful security breach?
1165  Bitcoin / Bitcoin Discussion / Re: Flexcoin Invites on: July 30, 2011, 02:29:18 PM
Hi,

Does your bank offer any insurance policy in terms of if you got shut down for instance or hacked, would our money still be safe and backed up under some kind of insurance? Really like what you've done though, the bitcoin community needs something like this so thank you for all your hard work!
Also are payments to and from exchange sites such as MtGox or Britcoin fine?

Ok you hit on a few topics...  I'll try to answer.

1 - We are in discussion with one of the exchanges right now..  it's not finalized but the concept is 100% fee-less transfers from the bank to the exchange and back.    This however is early in discussion..  (one of the exchanges would be using a flexcoin id,  hence allowing for free transfers).  Right now you can send it to any exchange you want just like you would with your desktop client.

2 - Insurance,  this is a tricky problem.   The FDIC does not recognize bitcoins,  much less insure them.    We are 1000000% open to it,  it's just that the exchanges are not in a position to cover losses considering they have enough problems on their own (Goxed, or tradehill getting Dwollaed)

So we're looking at valid solutions,  but most insurance companies don't understand what a bitcoin is,  much less willing to insure them (based on recent media blasts regarding theft, etc)

You will not do fractional reserve banking, correct? Do you have that in your TOS? The insurance won't mean a thing.
1166  Bitcoin / Bitcoin Discussion / Re: MyBitcoin.com, where did it go? on: July 30, 2011, 02:23:44 PM
So there is flexcoin. What other wallet service are there?
1167  Bitcoin / Project Development / Possible Escrow Bankruptcy Case on: July 30, 2011, 02:20:48 PM
I might have lost 600 BTC if mybitcoin service went down and never come back up. The 600 BTC I am holding were used for the cause of convincing CCC which went nowhere as their communication sucks. They were tried to be donated to the GIMP campaign but that campaign die out due to my lack of interest.

Eventually, I will list all the forum members who had donated to me as an escrow. They can either decide to forgive my debt or negotiate with me for a repayment.(Hopefully collectively with other users)

I am an employed programmer (at 10 dollars an hours cause I am still very junior), so be very reasonable, especially in a deflationary economy.

Should the mybitcoin service come back up, I will begin the process of refunding the escrow money should donors ask for it.


BUT! I have plan for it too. I wish to establish an Bitcoin X-prize foundation. (Not registered by the gubernment or anything) that award prizes for important achievement for the bitcoin economy and community. In addition to the initial money used to established the foundation, there will be paying members who help increase the prize pot as well vote for projects they want to see funded and serve as judges as to if a prize will be awarded. The X-prize will be used to incentivize economic development in much the same way bounties does in the past but with more certainty to the process and bigger capital.

If there are interest from donors, I will also reserve their escrow money for it and I will pay 5 USD worth of BTC to help chip in for the development cost. Also, I would like to transfer the escrow money for the X-prize to someone trustworthy as determined by donors.


Anyway, I will try to get money out of mybitcoin should it come back up as I don't trust the service anymore.
1168  Bitcoin / Bitcoin Discussion / Re: MyBitcoin.com, where did it go? on: July 30, 2011, 01:57:20 PM
Your wallet.dat.

That is not an answer.
1169  Other / Politics & Society / Re: The $1 Billion Armageddon Trade on: July 30, 2011, 01:55:24 PM
I personally find that fact outrageous. No one should be able to make a tenfold, or more, profit on any investment--unless its for the betterment of the overall global community (had you there for a second).


Why are you making moral judgement on how much profit a person should be able to make?
1170  Bitcoin / Bitcoin Discussion / Re: MyBitcoin.com, where did it go? on: July 30, 2011, 01:54:10 PM
This was bound to happen eventually, the site was just running without a person maintaining it for at least a month; support haven't answered messages since late June. The guy running the site obviously has better things to do than look after his users, he took 1BTC from me over a month ago, probably not malicious but obviously doesn't give a shit about us.

So if you were still using this service after all the complaints in the forum then you were asking for trouble.

What would you recommended as a wallet service replacement?

Bitcoin Weekly funds is stuck there too! Also, 600 BTC that I am responsible for.
1171  Bitcoin / Bitcoin Discussion / Re: Are bitcoins your dirty little secret? on: July 25, 2011, 11:11:38 PM
My mere presence on the first day of enjoyment made my boss become a bitcoin miners. He now owns 11 GPUs, all ATI Radeon.
1172  Bitcoin / Bitcoin Discussion / Re: How many people have you introduced to bitcoin? on: July 24, 2011, 09:48:35 PM
By just being hired, I introduced my boss to bitcoin. Now he's bitcoin mining and have 11 ATI GPUs.
1173  Bitcoin / Bitcoin Discussion / Re: Bitcoin Books/Publications on: July 24, 2011, 08:51:38 PM
Maybe somebody just repackage the Satoshi paper and hope to make money off of it.

Do I give a damn? Not really. Anything to help spread bitcoin knowledge is appreciated.
1174  Bitcoin / Bitcoin Discussion / Re: When robots attack on: July 23, 2011, 08:28:48 PM
I agree that there has to be created a better algorithm for trading online... one that is more stable than what we have now, but one that is also fair to all parties partaking in the market.

Question is... how can we do this?

Fair? What is fairness?
1175  Bitcoin / Bitcoin Discussion / Re: Who is Satoshi Nakamoto? on: July 23, 2011, 07:41:00 PM
I find it ridiculously funny that people who love Satoshi and bitcoins and everything he has done for the movement and appreciate the anonymity factor, are the very same people who wish to take away Satoshis anonymity.

You can't make that stuff up. It's too funny.
Naw. It is not about figuring out who Satoshi is but to discuss the great mystery that is satoshi.
1176  Bitcoin / Bitcoin Discussion / Re: Bitcoin Weekly RANSOM(.71 BTC target, 2 articles, and 1 comic) on: July 23, 2011, 03:54:10 AM
Folks...the contents are now released:

1. http://www.bitcoinweekly.com/comics/bitcoin-selloff

2. http://www.bitcoinweekly.com/articles/bitcoin-decentralization-and-the-nash-equilibrium

3. http://www.bitcoinweekly.com/articles/bitcoin-alternative-applications-and-the-profit-motive
1177  Bitcoin / Bitcoin Discussion / Re: Bitcoin Weekly RANSOM(.71 BTC target, 2 articles, and 1 comic) on: July 23, 2011, 02:27:55 AM
We reached our target already! Thanks for the bacon.  Grin
1178  Bitcoin / Bitcoin Discussion / Re: Bitcoin Weekly RANSOM(.71 BTC target, 2 articles, and 1 comic) on: July 22, 2011, 04:45:48 PM
I look forward to reading: Bitcoin, Decentralization and the Nash Equilibrium by Vitalik Buterin

Vitalik Buterin is an excellent writer. I am happy to to employ him.

Quote
BTW, I wonder is Vitalik Buterin rides a Harley because the anagram for his name is "Trivial Bike Nut."
Huh

Anyway, thanks for the donations so far.
1179  Other / Meta / Re: Why is this forum considered terrible by our development overlords? on: July 22, 2011, 01:06:48 PM

bitcoin.org isn't official in the sense that someone decreed it, but it is the de-facto face of the project.  It's where everyone goes when they first hear about Bitcoin and want to know more.  This won't always be the case (remember bittorrent.com?), but for now it's the reality that we have to deal with.

On the other hand, if you feel that bitcoin.org is so insignificant, why are you so concerned that this forum remain on it?

Trying to place Cypherpunkers next to the merchant community jgarizik wants to cater to is a bad idea.

Though, it would be nice to have one coherent community, but that doesn't seem to be possible.
1180  Bitcoin / Bitcoin Discussion / Bitcoin Weekly RANSOM(.71 BTC raised) on: July 22, 2011, 01:02:00 PM
Thanks for the surprisingly quick fundraising.  Grin

1. http://www.bitcoinweekly.com/comics/bitcoin-selloff

2. http://www.bitcoinweekly.com/articles/bitcoin-decentralization-and-the-nash-equilibrium

3. http://www.bitcoinweekly.com/articles/bitcoin-alternative-applications-and-the-profit-motive

Bitcoin Weekly ransom target is .71 BTC, to release 2 articles, and 1 comic.

Donation address: 17fMqMr4KtMWGJMiqrhf3pZTBya73NAXve
You can also check the balance at http://blockexplorer.com/address/17fMqMr4KtMWGJMiqrhf3pZTBya73NAXve

Here is the list of content we are planning to release soon:

1. Bitcoin, Decentralization and the Nash Equilibrium by Vitalik Buterin
2. Bitcoin, Alternative Applications and the Profit Motive by Vitalik Buterin.
3. Bitcoin Selloff by Joey Dangerous. New comic.

How it works
Bitcoin Weekly requires a certain amount of money to be raised via donations. Everyone can donate as much or as little as they like. Eventually, the donation balance will reach our fundraising target. At that point, we will release all ransomed contents

If Bitcoin Weekly creates new content during the period between the start of this ransom and the end of the fundraising, we will add them to the list of ransomed materials. We will also increase the ransom target by .10 BTC.

Term of Condition:
It will be checked via http://blockexplorer.com/address/17fMqMr4KtMWGJMiqrhf3pZTBya73NAXve


For me, if it is found to exceed or meet .71 BTC in the time period of 7:30 AM to 8:00 AM CST(time before I go to my day job), I will publish all material as soon as possible.

It will continues to be check until .71 BTC are donated.
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