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821  Bitcoin / Bitcoin Discussion / Re: Bitcoin Weekly: A List of Major Bitcoin Thefts, Scams, Hacks, and Losses on: June 21, 2012, 07:16:13 PM
49% of total reserve gone for MyBitcoin is corrected to 51% of total reserve gone for MyBitcoin based on en.bitcoin.it's article. However, I still have no idea where the number for the stolen bitcoin comes from. I saw it in the original list, but I do not see any citations.
822  Bitcoin / Bitcoin Discussion / Re: Bitcoin Weekly: A List of Major Bitcoin Thefts, Scams, Hacks, and Losses on: June 21, 2012, 06:55:58 PM
Was it this guy?

Getting burnt seems to make you a reasonable man. But this guy have a terrible reputation due to alleged housing scams that he ran.
823  Bitcoin / Bitcoin Discussion / Re: Bitcoin Weekly: A List of Major Bitcoin Thefts, Scams, Hacks, and Losses on: June 21, 2012, 06:47:54 PM
quick read.  no comment other than I'm actually surprised the list is so short.

Wasn't there something about 378k coins being lost?  Or was that user error?

Sorry for the list being so short! In the future, more and more content will be added to the list. There's a link to a list where I got events to research from, but it doesn't have citations and the details differ.
824  Bitcoin / Bitcoin Discussion / Re: Bitcoin Weekly: A List of Major Bitcoin Thefts, Scams, Hacks, and Losses on: June 21, 2012, 08:37:21 AM
Nearly a hundred views but no recorded visit or response? Weird.  Huh
825  Bitcoin / Bitcoin Discussion / Bitcoin Weekly: A List of Major Bitcoin Thefts, Scams, Hacks, and Losses on: June 21, 2012, 03:30:11 AM
http://bitcoinweekly.com/articles/a-list-of-major-bitcoin-thefts-scams-hacks-and-losses

Now that this article is published, I can officially say this:

Bitcoin Weekly is ALIVE! Its death have been greatly exaggerated.

Note that I am a terrible writer and there's possibly lot of grammar errors that still remain in the article. Let me know some of the mistake.

Lastly, future publication will not be free. It will be funded via crowdsourcing for each batch of new materials and updates.
826  Bitcoin / Bitcoin Discussion / Re: Critical mass community on: June 21, 2012, 03:12:47 AM
Btw, I thought they couldn't use computers? So SneakerNetBitcoins??

It's a misconception that Amish are technological Luddite. Rather, they evaluate new technologies and determine if it is something that they want in their community.
827  Bitcoin / Press / Re: 2012-06-20 Detlev Schlichter: The Death of Banks and the Future of Money on: June 21, 2012, 01:56:28 AM
Quote
It involves considerable computing power, and the complex algorithm at the core of Bitcoin makes the creation of additional Bitcons more difficult (and thus more expensive) the more Bitcoins are already in existence.

The difficulty of minting bitcoin is based on difficulty of the problem, not that there are more bitcoin in existence. The difficulty of the problem is determined by hashing rate and speed of which bitcoin is minted, and is adjusted with an eye of keeping the minting rate on schedule.
828  Bitcoin / Bitcoin Discussion / Re: Big press mention - DailyFinance.com & AOL.com Home Page on: June 19, 2012, 12:45:15 PM

How would I hack a bill?

Simple. You hack the mind who help make the bill in the first place.  Wink
829  Bitcoin / Press / Re: 2012-06-18 a-i-r.com - The Silk Road on: June 19, 2012, 09:56:20 AM
Happened when Senator Schumer launched his mini-crusade against the site. SR traffic spiked to the point where SR admin didn't know what to do. Very few people know when they should just shut up (I'm no exception).

Streisand effect!

Attempt to censor backfire, resulting in unintended massive amount of publicity.
830  Bitcoin / Press / Re: 2012-06-18 a-i-r.com - The Silk Road on: June 19, 2012, 03:45:38 AM
Not being mean or anything, but how many people fall in the bathtub and die. Or slip on ice and die.

It is the governments that has pushed people to go to silk road. Make drugs legal and then drugs would be properly processed and far much less crime would happen.

I wouldn't put the blame on SR.

How about this? Government sponsored heroin clinics where this woman could work to treat heroin addict. Best of all, government will subsidize the price of drug, destroying the heroin drug market in the process.

Win-win for everyone, except for organized crime and the prison industry.
831  Bitcoin / Press / Re: 2012-06-18 a-i-r.com - The Silk Road on: June 19, 2012, 03:36:17 AM
Quote
A user takes real currency and trades it online for bitcoins and then uses this non-currency to make transactions.

How dare she call bitcoin a non-currency!

Quote
I may not know how the Silk Road works in detail but I understand in theory that drugs are easier to obtain than ever. I understand that to be relevant as a treatment professional I need to understand the tactics of the opposition.

Would you rather have this young man die of a heroin overdose in the privacy of his home or getting shot by a drug dealer or sweeped up by police?
832  Bitcoin / Press / Re: 2012-06-12 Are Bitcoins Becoming Europe's New Safe Haven Currency? on: June 18, 2012, 11:52:05 PM
The comment section is full of horribly ignorant comments.
833  Bitcoin / Bitcoin Discussion / Re: Are We in a Middle Of a Digital Bank Run? on: June 16, 2012, 12:21:03 PM
It's September 17 2007. So, it's a 5 years bank run.
834  Economy / Service Announcements / Re: [Announce] CoinDL - a new digital downloads marketplace powered by Bitcoin on: June 15, 2012, 12:35:31 PM
Hi. I requested an interview and this interview was accepted, except I didn't receive any reply yet to my PM or my email.
835  Bitcoin / Press / Re: 2012-06-14 novilist.hr - Croatia - Banks running short on money on: June 14, 2012, 10:31:12 AM
Damn. The media bomb on bitcoin is still ongoing?
836  Economy / Services / Re: [ANN] Booster.io -- Kickstarter meets Flattr meets Bitcoin on: June 14, 2012, 09:34:48 AM
This per account is a bad policy. Why? Let do some math.

Imagine that there 100 accounts. 90 of them contains 99 BTC. 10 accounts contain 101 bitcoin each. Since the 100 BTC are moved to cold storage, that mean 1 BTC remains for withdrawal for the last 10.  

Add them up, and you have 8920 BTC that are hot while 1000 BTC are cold.

This is a disaster!  If a thief access and compromise the hot wallet server, he will be able to steal 8920 bitcon, which is 89.9193548% of your total holding.

What if every account have 99 BTC? You're even more doomed! Now, the thief will be able to steal all 9900 of 9900 BTC. He will be able to steal 100% of your holding.

Indeed, what I am saying is improbable, but I think in the end will expose you to more risk. However, if you keep your hot wallet to a strict limit to say 5% or 10% to total holding, you reduce the probability and economic incentive of a theft attempt.

Even better: keep all your coins in cold storage and process them at least once a day. Security is important, and I think your customers can handle a little inconvenience.

(If I am somehow wrong about the math, let me know)
837  Bitcoin / Bitcoin Discussion / Re: [Pre-ANN] More ideas than capital on: June 14, 2012, 01:35:41 AM
Here's the thing: I don't really see any real businesses on GLBSE besides miners and investment magicians. I hope GLBSE is friendly to web-based businesses. Any of which could disappear overnight. I'm not even sure of the legality of this type of funding. I am hoping to learn more about this before I go ahead.

It's probably not. GLBSE is like a black market for IPO, which relies solely on trust.
838  Economy / Services / Re: [ANN] Booster.io -- Kickstarter meets Flattr meets Bitcoin on: June 13, 2012, 06:42:34 PM
Security policy is as follows:

- Balances under 100 BTC are kept on the server.  Balances above 100 BTC are moved out of the server into an offline wallet, with wallet.dat backed up on two usb sticks, stored in a bank safe. When it is time to transfer the funds, I take the right wallet.dat and move the funds where they are supposed to go. Also, this whole thing is done inside a fresh windows install Virtual Machine snapshot, refreshed everytime, so there is no danger of viruses.

Are you counting total balance of everything or just one account?
839  Economy / Services / Re: [ANN] Booster.io -- Kickstarter meets Flattr meets Bitcoin on: June 13, 2012, 11:18:12 AM
What is your security policy?
840  Bitcoin / Bitcoin Discussion / Re: List of Major Bitcoin Heists, Thefts, Hacks, Scams, and Losses on: June 13, 2012, 09:26:31 AM
Hi, I am going to use the OP's post as a source for an article I am working on. It will be more comprehensive and detailed, and the OP will be credited.
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