That is not a problem as long as TBF only does what is good for bitcoin. But no one can guarantee that, and the way it has been set up almost ensures that it won't, at some point in time.
If wé are are not critical on TBF and their actions, those 6 billion people sure won't be.
And how do you plan on doing that with a foundation that has a legal structure designed to give those with more money a head start ? To be elected you have to campaign and we all know how campaigns work, especially when those future 6 billion people join in on the voting wagon. If you want a example of how that works in reality, take a closer look at the example Gavin mentioned. With the Internet we have the power to decentralize politics and we no longer need to elect representatives. There was no need to add that kind of centralized structure on to the foundation ...Edit: Correction - from the common users point of view there was no need to add that kind of centralized structure on to the foundation. |
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In the end The Foundation will be there to please those that pay and not to protect or advance the protocol.
I think this kind of critic doesn't stand. There's nothing stopping people with deep pockets from financing developments that please them right now. This organization per se won't make it easier or harder for them. In the end, what matters is who people (=bitcoin users) trust. If well intended developers see the foundation has been bought by "an evil guy", they can simply leave it. Their reputation will leave with them. The actual danger is not people buying up the organization. The actual danger is bitcoin users trusting this organization more than they should. The simple fact they don't accept anonymous memberships is already a reason to be wary, IMHO. The structure of the foundation and the current state of the bitcoin protocol is why I believe the foundation does make it easier for people with bad intentions to act, it gives them a ready to use and central point of attack with a legal structure to be co-opted. As to users trust, I agree but the users don't have a choice. At this point in time they have to trust software put out by the foundation. There simply is no complete alternative for the to turn to. In the past I gave Gavin trust as a person, I can't say I will do the same for Gavin the employee of 'the foundation'. Don't get me wrong, I don't dislike the idea of a foundation but the timing and structure of BF seems off to me. On the other hand it might just wake people up out of there complacent state and push them to actually do something about it. |
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if the membership agrees with your "bugs" then they'll get fixed. I'm happy that I'd already made a post in the Alternative client section, because if I hadn't I would have to do it now. What you're saying here is that if something needs fixing (be it in bitcoind, TBF's setup, or other), it will only happen if enough paying members want it. So if something needs fixing that might not be beneficial to enough paying members (even if it is vital to the majority of the userbase that is not a member), it won't get done. We really need a full alternative, TBF independent, client. Asap. See, this is why we call you a troll. In the case of the foundation, the decision about whether something is broken or not belongs to the members. You don't get to decide that something in the foundation's bylaws is broken and needs to be fixed, the members do. If the members don't think that something needs to be changed, it isn't broken, no matter how much you think it is. So it all comes down to members that pay, eventually those that pay the most will have most power. Equal votes my ass, they pay the bills and put food on the table ... In the end The Foundation will be there to please those that pay and not to protect or advance the protocol.The more I read and hear about this the more I'm tempted to just remove any software related to the foundation ... if only that was possible.We really need a full alternative, TBF independent, client. Asap. +1k |
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Years ago, I thought it was a funny and interesting concept so I had my pc mining away in support. But at some point it started to look like all other alternative currencies, domed to fail .. The second time was when I discovered a old wallet backup from a few years back, so checkout the sites again, saw that it was still around and doing way better then I expected ... my little backup was worth 10 times what it was before ... So now I'm stuck trying to figure out a way to somehow pay back to the community what they gave me ... that and absolute hatred towards that other financial system we all 'love to' use  |
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I host my own DNS so I rarely have a major need for it, but it's nice to know I do have a backup.
Same here, some of my apps use domains hosted by them as a backup. I don't have a need for premium so far but would consider trowing them some coins if they had the option  |
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I'll admit that I have been putting all of my income into Bitcoins for the past year or so.
So, yeah, I am biased. I am attached to Bitcoin.
So you have set your self up to get burned ?  On other hand I do agree, we should try to get away from a situation where one group is slowly becoming the kingpin. I would love to see more options besides the default bitcoin daemon, not a alt currency but a alt deamon/library that implements the protocol as it is today. It would give the foundation some competition and the community a fall back in case a unwanted change does get pushed true in one or the other. If you don't like the foundation then go find one of the people/groups that are working on that and support them ... |
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I'll bite, free beer always good |
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Not true, a miner is a validator, just like any other user who runs a Bitcoin client. If miners were really voters than those who'd vote differently would be forced to follow the majority's rules and yet I just explained anyone is able to create a fork with their own rules they wish to validate. | pool operator | representative |
Not true, representatives' obligation is to represent their constituency, pool operators have no such obligation to anyone, they merely offer a service anyone is free to purchase or not. If miners don't vote, plz explain the following page to me ? http://blockchain.info/P2SHhttps://en.bitcoin.it/wiki/BIP_0016I agree that the votes are not binding and that the system needs some work. But miners and pool operators do vote and have the prower to enforce there vote by refusing to accept updates that go against them. |
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If you still think you might have a rootkit, wipe your system clean. It's really the only surefire way to get rid of a rootkit.
I think after a disaster like this the only secure method is to reinstall all affected computers, make some images of the harddisk so you can still analyze what happend. +1, don't try to fix a os if you think it might have a root kit. Root kit cleaners are like anti virus software, they only clean what they know and recognize .... |
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agh sorry to hear ... Just wanted to repeat my self again, we need a easy to use Multi Sig implementation asap ... Funds like these do not belong on a one to one transaction address.  |
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I think my project is a bit too early to prove itself yet. When I get my full block-chain downloader/validator working I think it will create much more interest.
Still got my vote, a good library in staid of rpc calls to client would make development of third party tools a lot easier and adds more flexibility. |
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2) China owns most of US
LOLZ. US owns most of US debt. Try reading more than the headline next time. The Fed != Us Gov, Private banks got the US (and most others) to bend over and spread wide ... I'm tempted to agree that china is the biggest holder, why ? The fed is owned by several private institutions, if you could look at owner ship shares and follow the trail I'm sure you can add a few trillion extra on to china's account. Not to mention that this does not account for all private and/or corperate owned depth inside the US! http://finance.yahoo.com/news/biggest-holders-of-us-gov-t-debt.htmlAs for state, they will do what they always do: if you can't beat it, join it and change it from the inside ... (co-opt) |
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I have canceled the sale of this asset to Insu Dra.
I have decided to reincorporate this ETF as a Legal entity within the USA.
The contract will be rewritten from the ground up to to reflect the legal protections of an Legal Entity within the USA
RamdomQ reverted his initial decision and I did not feel like renegotiating so ... I'm no longer involved, gl |
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I agree with the notion of not having a hot wallet inside the same hosting location. But ... To me it looks like the hot wallet is linked to the Internet ? Anny server that holds a hot wallet needs to limit connections to specified local ip's and under no circumstances should it be talking directly to the Internet. You need to keep it inside a local network with some type of proxy('s) and/or router(s) in between the protected data and the public. Personally, for any medium to large scale service. I would add multiple proxy servers in to the mix to fully randomize the from and to traffic, think onion routing. Why do you assume nobody does that?
... hmm.. bitcoinica, bitfloor, intersango, to name just a few.... These services would not work under your construction, they all require data to go from the web service to the hot wallet (client). Why ? All these services offered the user the option to withdraw btc ... If you do not directly send the withdraw info to the client, the client would have to request and get access to it somehow, as a result these services need traffic back to the client. So unless you add human interaction in to the mix ... and that would open a whole other can of worms. |
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I'm a noob, what's the reason to buy the shares? Speculation about the future price of silver?
- First reason to buy silver shares would be to act as a store of value, a hedge against market fluctuations. Just like other currencies bitcoin has the potential to lose value in relation to other currencies. One month 1 btc is worth 10$ next month it might drop to 5$, holding shares in silver offers some protection against that. Lets say that silver has kept it's value around 1$ per gram in that same time frame, that would mean your silver shares have gone up in value from 0,1 btc to 0,2 btc. Ofc silver might change in value and the opposite is true as well, thats where risk management comes in to balance things out. Old saying: Never put all your egs in to one basket. Metal.Silver offers a low risk basket for you to put some egs in. - The second reason is collateral for loans or investments, lets say you want a loan or investment for 1k btc to buy something, you can then put down 250btc worth of silver shares (and/or some other assets) + what ever you buy with the loan as collateral. This way you reduce risk for people lending to you and increase your chances to get the actual loan, atm glbse makes this relatively hard but I'm working on options to make this easier and more convenient for both parties. (don't expect this to soon, I was playing with the idea before stepping in to METAL but it's far from complete at this point in time) And then yes there is also the speculation, day trading, ... and so on. And what are the shipping fees for Europe?
In short: For small/medium amounts, from 15€ to 80€ depending on storage location and taxes involved (+ vat on the value of silver, this can be avoided legally in some cases) In Full: --- Dealing with physical silver in Europe is less strait forward then it is in the us, tax laws make silver investment on a small scale very annoying. The cost for shipment of small/medium amounts can go from 15€ to 80€ depending on storage location and taxes involved, on top of that regulations might force you to pay VAT on the value of the silver once you get the silver outside of designated storage locations (custom offices, tax free transfer zones like those in most international airports). On the bright side there are allot of silver dealers inside euro zone that are actively trying to eliminate or spread the cost of taxes on silver in the region. This means there is a high chance of recuperating some of those taxes when you sell the silver to specific bullion dealers or other parties inside Europe. To that I would like to add that we ofter European people a chance to invest in VAT free physical silver without the minimum investment requirements or cost associated with the existing options. --- For people that want physical delivery inside Europe, I will actively work with them to keep the cost/losses from taxes as low as possible within the legal framework and I will work with every shareholder to keep our handling fee as low as possible.. edit: more translation errors, some day I'l get this English right ... |
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I made a offer to randomQ in the following thread: https://bitcointalk.org/index.php?topic=106464.0When I saw randomQ was selling bitcoin to metal I was kinda struck. I love the idea and there is a lot of potential benefits for bitcoin securities as a whole. As such I checked if it would be possible for me to manage this type of operation legally and made a simple offer to randomQ as soon as that was confirmed. The offer, I would invest some silver to grow the etf a bit and take over the bulk of the work but only if he was willing to remain active to provide storage in the USA. As a result we would split storage between USA and EU, providing lower shipment cost and add more security to all share holders. The big change in the contract is the handling fee, to get the maximum potential out of a ETF it needs to have a decent amount of shares to trade and to do this we need to acquire more physical silver. Finding low volumes of physical silver at spot price is not a easy task especially sins I want to add more focus on to .99 fine silver. This is where the handling fee comes in, it's a detergent for people from requesting physical delivery and it can be used to cover the cost involved with replacing the old assets. I will always try to look for the middle ground between the value of assets being shipped out and the cost to replace said assets when determining the handling fee. Example. 1 oz coin that can be sold for 5% over spot will result in a handling fee of 5% above spot + the shipment cost to get a new coin to our location. My goal is to run the ETF side as a none profit, no losses or gains.Ofc Nether me or randomQ work for free, the other side, MINING it self, will hold some shares of MINING.SILVER. The goal is to be actively trading with the weight represented by those shares, income generated by the active trading will be used to pay for time invested by us and to grow the volume of the ETF when needed. METAL.SILVER is very simple idea, its a safe way to invest in silver.
You can cash Out at any time into real silver (You pay shipping cost)
This will always be backed 100% by silver coins/bars, We will not over sell.
We will provide proof of all silver, You want a picture of a shoe on my head with the coin in my mouth No Problem.
This did not change, I will honer that just like randomQ. Aldo don't ask me to put coins in my mouth ... Thats it, if you have remarks or questions feel free to share and I hope you guy's will give me a chance to build up trust and help me to build up a great asset to be used as hedge, collateral or investment tool for all that need it. |
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There is still not much evidence. Therefore Dr Evil is presumed guilty until proven innocent. *sarcasms on* Exactly; I would say lock him up, no phone call and no lawyers till he has proven otherwise ... *sarcasms off* |
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Sweden Rocks, ffs ... there just pissed we did not join in the euro and are looking for a way out. That said, can't wait to drive 25 miles to cross the border and spend some bitcoins  |
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