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This has happened several times before. It will probably happen again. No need to worry.
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This sort of thing just doesn't worry me anymore...
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By saving money you are depriving others of that money. Go and spend it on things and don't save, you are being selfish.
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Is that current price on MtGox? I'm seeing $93...
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So far we've seen significant pullbacks from $50 and from $75. It looks like we could easily bounce off $100 just before the weekend (which I seem to remember was what happened at the last two levels of resistance). Is it likely that this pattern will repeat?
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My netbook is worth more than my house.
Advice, if I may: Make more than 1 copy of that paper wallet.
Keep them in different buildings. A fire could give you a really bad day.
just an idea: perhaps a thin stainless steel sheet on which you could hand engrave (matbe even scratch with tungsten drill tip) or stamp the info might be in order. such sheet can be bought from hardware stores. or if youre worried about metal detectors, maybe some clay tablet in a plastic drainpipe with endcaps that you bury somewhere. perhaps in the far future some lucky people might find bitcoin stashes that used to belong to reclusive hermit miners that are worth the value of a nice small tropical island. I guess you could use one of those dog-tag engravers at wal-mart. Might have to stretch the wallet over several of them though  Would people actually trust a service which engraved and mailed wallets? The trust would be about the same level as Casascius coins but the coins typically only hold 1BTC and are more curios than live wallets. It would be quite a risk. Maybe if there was a way to two-factor them (hmm, I think Casascius was talking about that for his coins so...) Take the contents of your paper wallet and encrypt it, then get that engraved. Now you just have to remember the encryption key. When you want to restore your wallet enter the encrypted data and decrypt. This way you don't have to trust a third party with you private key. |
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http://en.wikipedia.org/wiki/ADE_651Just saw this on the news, if you throw one in with the hat and the dowsing rod, you got yourself a deal (Seriously though, there's a company selling these things)
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More optimistically of course, in a major situation such as the aforementioned, things would eventually recover - as would the value of my bitcoins.
until something better comes along.  What are you selling?  |
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More optimistically of course, in a major situation such as the aforementioned, things would eventually recover - as would the value of my bitcoins.
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Right but as long as godzilla only attacks Japan, I'll still have my bitcoins...
sure but if I was in the affected area and you needed that great dildo I have for sale(non electric) I would laugh at your bitcoin. If you're in the affected area and I'm not, you can keep your dildo, you won't be having much fun other than that. What I'm trying to say is that the whole point of bitcoin is it's decentralised nature - It really would have to be a collapse of modern society for bitcoin to get wiped out (As for whether or not bitcoin truly is decentralised, well that's another debate.) I mean, I'm in the UK. If we lose electrical power for a few months, there'll be chaos, but I'm sure the rest of Europe would step in to help out. Unless the rest of Europe was fucked (haha) in which case hopefully we'd get support from elsewhere? But this is scaling up pretty quickly - soon we'll run out of continents to 'step in and help out'. So I'm thinking in a situation where I find my bitcoins to be worthless the world over, I think worrying about conserving my wealth would be a bit of a lost cause. |
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Right but as long as godzilla only attacks Japan, I'll still have my bitcoins...
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How long do you think the dust would take to settle?
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I think we'll have bigger things to worry about than finance if there's some sort of solar flare/worldwide blackout situation. I mean seriously, all of the whole entire internetz wiped out? Sure, gold would probably fall back into place as the standard accepted store of value, but within the avergage human lifetime I think you'd be better off investing in guns and rations.
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Without the internet, tech and electrical power, bitcoin modern society can not function. +1 What will you do with your gold if we lose electrical power and the internet shuts down? |
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etotheipi, thanks for your response. Out of interest, if I am able to keep my transactions to a few kB would I be able to use my initial suggestion to offer any additional security? Sending a donation your way btw, keep up the good work |
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Yeah, exactly, everything will be alright until that very moment when everything begins to go wrong...
Hence my final statement Just invest what you're willing to lose and then you don't have to deal with the stress of it.
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Give it five years, you'll be valuing your fiat in bitcoins...
lol... what a wonderful thing the imagination is right...! The day you are able to value gas for bitcoins and not be in the middle of a war, let me know. I hope im not dead already. lol, in all seriousness though I think bitcoin can and will trade a lot higher than current prices. If you're calling a top here then fair play to you, I think we've been climbing too fast recently myself. But I still hold to my conviction that regardless of short term volatility, the mid to long term outlook on bitcoin is a bullish one, short of some major event such as as government intervention or some problem in the protocol which hasn't been recognised by some seriously clued up developers. Personally, I wouldn't feel confident enough to try and pick the tops and sell the dips (I'm sure I'd get it right a few times, but there's always that one time when thing go completely against the way you'd expected). Just invest what you're willing to lose and then you don't have to deal with the stress of it. |
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let me guess, you sold out a while ago?
Nah, i buy a sell whenever i see an opportunitty... But let me guess, you will never spend your bitcoins, right? How does it feel to only be able to value your bitcoins in fiat?  :p Give it five years, you'll be valuing your fiat in bitcoins... |
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Anyone? My initial thought was: What if I could use a USB drive which would be full once a transaction was saved onto it? I guess this would mean a few kB size, which I'm guessing doesn't exist (could it be made?) so my next though was to partition a USB drive into sections around this size, if this would have the same effect? But my technical knowledge isn't great so I was hoping someone cold tell me if this would work.
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