Remember BTC is the only real way to pull money out reliably from MTGox..
And this is why Bitcoin will ultimately succeed: it is the superman of currency. If MtGox was engaged in the business of exchanging anything else it would be dead in the water months ago with its fiat transfer system so crippled. Bitcoin is far bigger MtGox, and the problem of where whales dump coins is not a make or break issue. Many whale sells are trickled out over days and never detected. |
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Drazvan, excellent project! The problem with smart cards is that they don't have a calendar.
Could this be done with an inbuilt micro-receiver for a GPS signal? |
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And turns out yesterday was actually bigger than post silk road.
We might be going down/sidways over the next few days... but next week will be ridiculous.
It takes 2 to 4 weeks for a newcomer to learn about bitcoin, set up a Verified account and wire funds. IMO the recent good news, press coverage and anticipation of new money is already reflected in the price. Actually, I would think that all those people who are checking out Bitcoin on wikipedia are in the first days of the 2-4 week process. Many won't be buying, but those that eventually will are nowhere near ready. Why is this happening now?
Norwegian story of $22 in BTC forgotten from 2009, buying apartment, Robocoin ATM, hedge fund interest, CCTV and RT general coverage. All recent. |
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hi everybody, i am new here and please excuse my englisch  i read about the problems about to be accepted from the bitcoin nodes etc. - dacoinminster you wrote about "to be a good bitcoinchain citizen" - my question or idea would be to give the miners in the bitcoin blockchain a reward for there work. Like you would take MSC transactionfee and will be transfering the money to the block miner every period - you would get marketing in this way, then the miners will do something with this free coins and in the long run a healthy interest from the bitcoin miners to hold the Mastercoin in there network. So the level of conflict could be deascaleted. Maybe you discussed this point already and i missed it. Keep up everybody with this cool project. TR Yes, MasterCoin transactions include a transaction fee for the miner. I support making the default fee fairly generous for exactly that reason  How about including a msc transaction fee on top of the btc fee for the miners? And how would a miner receive the MSC TX fee if the miner doesn't know anything about MSC itself? Would the MSC fee be kept in "pending" status until the miner accepts the MSC TX fees? Just my 2 satoshis. 8 pools make up 75% of the mining. You only need to inform 8 people as to the extra value included in their blocks. If they wish to distribute the msc to their pool members that is their choice. Ideally the MSC software should pay miners the tx fee from a non-exodus standard bitcoin utxo while the MSC transaction amount is in exodus-recognized bitcoins. Is this possible? It needs to be, especially if the MSC/BTC fx rate blows out significantly. |
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Bulls are getting brazen up in here. I just want to see a reversal now so it wipes some of the smugness off these faces.
Considering BTC increases have been at orders of magnitude, I don't think there's anything brazen or smug about expecting 200 to hold up. Those adjectives refer to peoples' attitudes, not perceptions of the market. But, on the point of 200 holding up -- how many days in bitcoin's history has the price been this high? I wouldn't get too comfortable. At one point the increase from $1 to $2 was uncomfortable, and the oscillations between $1.80 and $2.20 worthy of micro-analysis. Today, with the Bitcoin ecosystem 100x bigger, 1000x the public awareness, 10000x the hashing power: the $180 to $220 level seems just fine! |
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Bitcoin is displacing the core business of Western Union, the international money transmitter. Although the loss of WU business to BTC right now is a trickle the markets can see this becoming a flood in the near future. Oct 30, 2013 equities.com "Money transmitter Western Union (WU) posted its third quarter earnings after the bell on Tuesday, and while the company beat EPS forecasts they provided bleak guidance as a result of expected increased regulatory costs. Money transmitters across the board, including classic competitor Monerygram International (MGI) face a tough future, as more people needing to transfer money have been utilizing the popular virtual currency bitcoin.
However, bitcoin itself cannot be blamed for Western Union’s decline, and may not long last as a cheap, regulatory-free alternative to traditional money transmitters. The major digital cryptocurrency exchanges might soon be facing the same constraints as its traditional currency counterparts, severely undermining the appeal of bitcoin in America.
Western Union raised compliance-related cost guidance from 3.5 percent to 4.5 percent in 2013, up from 2.5 percent last year. Contrasted with bitcoin exchanges like Mt. Gox, Bitstamp, and Coinbase, who currently pay zero, Western Union is finding it harder and harder to compete.
The bitcoin exchange’s status as a tax-free, regulatory-exempt money transfer apparatus might not last long in the States – that is, if regulators have their way. On Oct. 1 the New York Department of Financial Services subpoenaed several bitcoin startups, stating that “regulations need to be in place,” and if regulation killed bitcoin’s viability as a liquid value transfer vehicle, “so be it.”
At the same time, bitcoin has attracted mainstream interest from big players like the Winklevoss Twins of Facebook Inc. (FB) fame. The Winklevii are currently seeking to set up the first Bitcoin ETF, which would allow Wall Streeters to speculate on the digital currency with American dollars.
Whether bitcoin survives, dies, or thrives, the fact remains that Western Union is in trouble, and investors are spooked. Following the pessimistic guidance, the company’s shares shed over 12 percent amid exceedingly heavy trading."http://www.equities.com/editors-desk/stocks/financials/western-union-tanks-on-poor-guidance-as-bitcoin-gains-prominence(my emphasis) WU is in the same position as the Kodak film business when it first faced digital technology. The only option for Kodak was to use its massive size to embrace the new tech, adapt and ride the change ahead of everyone else. They failed to do so and the rest is history. Perhaps WU could integrate bitcoin into its business model and become like localbitcoins.com (but leverage their branch network & install ATMs in them too), or use all its MSB licences in the US to set up a professional exchange. This is a real test of their management. WU is the very first domino in a whole series with Paypal, Mastercard, VISA, retail banks, the fiat currencies and Central Banks lined up afterwards. It will be interesting to see which ones adapt best and which ones die hardest.  |
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What surprises me the most is that you are all mostly talking about why they are having trouble processing/covering withdrawals and not why they haven't been straight forward (honest) about the whole situation and told you.
They are straight forward about not being straight forward. 2.5 months have passed and the situation seems unchanged. CONFIRMATION TIME!I was on at #mtgox on irc.freenode.org when identified user MagicalTux, CEO of MtGox, gave the statements in sturles post https://bitcointalk.org/index.php?topic=179586.msg2924021#msg2924021 and I can confirm that the quotes are accurate and exactly what was said. It would be great if one or two other people who also have the conversation in their scrollback buffer can also confirm this. 13:48 <@MagicalTux> sturles, we already applied to that one 13:51 <@MagicalTux> samson_, things are not easy, but it's far from what you could qualify as "embargo" 13:54 <@MagicalTux> sturles, we've been reducing SEPA delay day by day 13:54 <@MagicalTux> things are much better than one month ago 13:54 <@MagicalTux> nope 13:59 <@MagicalTux> sturles, "blocked" is not the correct word 14:00 <@MagicalTux> SleepersTide, right now all SWIFT transfers are processed up to the limits of our current bank (up to 10 transfers per day - we should be able to increase that as soon as we have more banking partners ready - it's taking longer than expected because of the time required by the people at the bank to understand our business) 14:01 <@MagicalTux> sturles, we are not allowed to talk about the exact problem (doing so would only make things worse)14:12 <@MagicalTux> sturles, most companies in Japan will do one, maybe two SWIFT transfers a month to providers overseas (actually most will do zero) 14:16 <@MagicalTux> Delerium, literal 14:17 <@MagicalTux> when we were in the second largest bank in Japan, we represented more than half of all the volume of SWIFT processed by that bank (almost overloading their systems a couple of times) 14:18 <@MagicalTux> rfish, rather than spending time on this, fixing it is likely going to bring more on the long term 14:19 <@MagicalTux> those wires are processed in received order, nothing else 14:25 <@MagicalTux> publishing that would be against our ToS 14:26 <@MagicalTux> (specifically privacy policies) ^^ see sturles post for full conversation, just confirming MagicalTux's statements. ..if you're wondering why we should confirm this is true: various "news outlets" are now watching and typing up stories |
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One thing most people can agree on is that the human brain is the pinnacle of evolution.
The importance of its recent development (in the last 2 million years) is that it has become fully self-referential and can examine the environment in the abstract and in past and future states, with apparent free will. So, for 99.99% of Earth's history natural selection was a mindless process generating fitter and fitter organisms, then a tipping point was reached where an end-product of natural selection has became a significant force in it.
Today the human brain is the most important influence in the evolution of life by transforming the world (usually not for the best). Whole species have been transported to new continents, others made extinct, acidification of the oceans, domestication of animals and plants, genetic engineering have effectively put evolution into fast forward.
Sorry, I have to disagree, you do not now, and you cannot make such a claim! We now have the capability of destroying the environment, will it be by nuclear war, global warming, super-virus, doesn't matter, plus we face the asteroid menace, in these scenarios, humans will probably became extinct, but many other forms of life will continue their lives, like cockroaches and Nautilus, because they have the characteristics that permit them to perpetuate their species in this "new world". There's no pinnacle of evolution, there's just change and adaption. Jellyfish were probably the pinnacle once. Yes, there is always change and adaptation, but more and more change is consciously intended. 300 years ago CO 2 levels were 50% of today's. It wasn't a conscious decision to begin shoving 500 gigatonnes of carbon into the atmosphere, but it is a conscious decision to continue that course by adding the next 500. Natural selection will respond to this massive global change. And yes, a lot of other doom-and-gloom scenarios exist. The asteroid impact which killed the dinosaurs would not happen in the 21st century as humans would divert the asteroid while still in space. Yet another scenario for the future is nanotech grey-goo - which might become a very real concern. |
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One thing most people can agree on is that the human brain is the pinnacle of evolution.
The importance of its recent development (in the last 2 million years) is that it has become fully self-referential and can examine the environment in the abstract and in past and future states, with apparent free will. So, for 99.99% of Earth's history natural selection was a mindless process generating fitter and fitter organisms, then a tipping point was reached where an end-product of natural selection has became a significant force in it.
Today the human brain is the most important influence in the evolution of life by transforming the world (usually not for the best). Whole species have been transported to new continents, others made extinct, acidification of the oceans, domestication of animals and plants, genetic engineering have effectively put evolution into fast forward.
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I sold my BTC, nice profit. All USD right now.
oh thats got to suck... when you going to buy back in? now or the ATH?  LOL, I've bought back in and sold a few of times since then, that was months ago. I'll leave further buying until after the ATH when it crashes again. What if it crashes and the lower is like 250? Exactly. The way to trade bitcoin is to be all-in *most* of the time, and be partially in fiat only during obvious downtrends (like May/June was). |
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A cheaper and quicker alternative for people from the Netherlands is Bitonic, where you can pay with iDeal and instantly get the bitcoins sent to your wallet. Interesting. The price is 150.47 euros now while bittylicious has £137 which is 159.95 euros (at the current xe.com rate). I'll be honest: There's little chance Bittylicious will ever be near to Bitstamp or BTC-e prices. In the UK, markets simply seem to be more expensive so it's only really fair to compare against other markets such as Gox, BB and LB. Bittylicious tends to be similar in price (on average a little more expensive) but ease of use is its real selling factor, not shaving off that extra pound or so.
I hear you, but the reality is the UK buyer is suffering the way it always does with unequal pricing. I know the ease of use for sterling payment is much better, but btc purchases in any quantity will not make economic sense. |
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1) What are the implications of Bitcoin as a protocol as a whole if the seized coins are blacklisted?
2) How does this affect the pending legal status of Bitcoin and its uses?
3) If they were blacklisted how would this be done? Would miners simply refuse transactions from these coins? Or could they be returned to the network in the least disruptive way?
Not actually advocating this, but its just been a thought that has been on my mind.
And here ladies and gentlemen is why this little monetary experiment called Bitcoin is doomed to fail. Wrong. >50% of the mining network will always accept transactions from all utxo, ignoring any attempt at blacklisting because >50% of the miners will accept fee payments and want to retain as high a valuation as possible for their own btc holdings. Blacklisting has already been attempted by a mining pool for SatoshiDice addresses, and yet this site continues to stay in business just fine. |
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As many posters here pointed out the evolution doesn't care about things like "style of life" or try to optimize for something. It just happens. So according to that view horses, cows and pigs had equal chances as dinosaurs to begin evolving wings. Since we have agreed that ostriches don't get any disadvantages of having wings while still being incapable of flight, then we should have seen pigs with rudiments of wings too, but we didn't. Truly random mutations must have produced that. Yet we only see the mutations, where they make sense and eventually lead to an implementation of some higher-order concept.
The coccyx in humans is the rudiment of a tail (most of which has disappeared). http://en.wikipedia.org/wiki/Coccyx |
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ARRRGHHH!H#!@#!! I HATE YOU MTGOX.
....
Don't know what to do anymore. I really really hate MtGox now.
It is important to remember that the mtgox btc valuation is artificially high because of them being blacklisted by as much of the fiat banking system the USG can influence. So, transferring the btc to another exchange and selling it is only realizing what the btc are really worth. The best option to get fiat is to buy btc on mtgox and sell on localbitcoins where the prices are good, or, if in a hurry, sell on bitstamp instead. |
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As has already been pointed out, all 4 poll options are false. Human DNA has origins from the earliest cells and RNA replication between 2 and 3 billion years ago. What is really interesting is that fossils of the earliest stages of evolution are within us today. Mitochondria were once a separate single-celled organism which was engulfed by a different cell type and became symbiotic. This happened in the early oceans which were hot water. The moon's orbit was much closer so the continents were swept with hundred meter tides every day. The Earth was a giant washing machine of organic chemicals for a billion years. Human cells have thousands of mitochondria which are essential for energy production. Human nuclear DNA has slowly absorbed most of the mtDNA such that only a dozen proteins are encoded by them now. Ape to man can be probably be explained, but the question is how non-life would give rise to life.
Easy. non-life can give rise to life incrementally because there is a vast range in between: viruses. Viruses are half alive, especially the most primitive ones which are complex organic molecules. They replicate but only by using other organic material from the environment. |
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I would use your service but the price seems always about 12% higher than bitstamp. 2 or even 3% maybe OK, but not at Western Union type spreads.
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 Anyone creeped out by this slow low-volume recovery and all the selling? There is no "all the selling". Although the charts are similar the volume this week is a fraction of the volume in April (even allowing for gox's lost marketshare). A huge amount of coins are in stronger hands this time. |
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In order to avoid any accusations of giving people insider information on my plans for my own MSC, I'm posting this email between myself and David Johnston...
Such transparency can only help maintain momentum for the Mastercoin project and enthusiasm in those involved. As the for the project, the potential in leveraging the blockchain for smart property is huge. It is excellent that core dev are supporting OP_RETURN data in the reference client. Who knows where this will lead? Those wondering where the next google or facebook might emerge from should be paying attention to this space. |
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The triangle i posted earlier did break upwards. I think this suggest that we're heading up for now.
Nearly hitting the same highs as post silk road shutdown yesterday. Hold on.
Agreed. Market behavior and investor interest this month at >$200 is far different from April. The price is consolidating and building for the next leg. Might be a $300 Christmas present for all Bitcoiners coming along this year! |
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There is no "mess up" that can't be fixed baring a break in RIPEMD-160, SHA-256 and/or ECDSA. If that happens LiteCoin provides no protection because it uses the exact same primitives. The fact that it uses a different algorithm in mining will provide no protection from a cryptographic break.
That last mess up that fork had nothing to do with encryption. Ltc did not have that code and could not break in that way. For 24 hours you could not use btc but i was able to use crypto coins with ltc. Having a backup is just smart. You are referring to the the db lock limit problem of mid-March which created a fork in Bitcoin that lasted only a few hours, not 24. At the time I was worried, like a lot of people were. Now, with hindsight, I think the fork was a major boost for Bitcoin. a) It proved to a lot of non-IT skeptics that Bitcoin is absolutely a legitimate, complex, technical enterprise. It is software reliably working for years at a time. This is the opposite of an empty ponzi or pyramid scheme. How many companies and governments have technical issues with software? All of them at one time or another. b) It proved that the major people involved in Bitcoin could work fast to restore normality. It means that any future problem could also be addressed, which actually happens for minor issues occasionally anyway. The price was at $47 when the fork happened, but within days shot up and we have not seen that level again. Litecoin is riding BTC's coat-tails, and I agree it is here for the long-run, might get some general acceptance, but also consider that it offers nothing much different. |
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