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1  Economy / Speculation / Re: The truth on: August 28, 2014, 10:17:27 PM
Satoshis coins won't move until we have a working bitcoin economy - that is, until those who accept bitcoin as payment stop converting it instantly into fiat. And probably not until the bitcoin economy is mature. His coins can be effectively considered "lost" or "out of circulation" until we get there. It's a feature, not a bug.

I hate that line so much. No, a massive % of the entire supply concentrated in the hands of one actor is not a "feature". Assuming we can trust Satoshi (ironic, eh?), it is at best "not a bug". That doesn't make it a feature. There is nothing good about this at all for a supposedly (hopefully someday) decentralized economy.

I fantasize that Satoshi will release these coins in a democratic way (sms? mike hearn's passport thingy? facebook?)  when the time is right, thus giving the dollar a death kiss
2  Bitcoin / Bitcoin Discussion / Re: Are you interested in Bitcoin because of the concept or to get rich? on: August 28, 2014, 10:08:04 PM
I support bitcoin because of the efficiency it will generate. As income will be easy to hide, the states will have to adapt their complex tax codes to simpler ones based on assets. All contract law specialists, record keeping monkeys, asset ownership procedures and the like will be wiped out and their functions re-written. You wil not need stock, forex, bonds brokers firms. States will not be able to dictate what you can buy or if you want to gamble.

I want to be right. And rich
3  Bitcoin / Bitcoin Discussion / Re: RIP Hal Finney on: August 28, 2014, 10:01:11 PM
The world was made a better place thanks to Hal Finney's efforts.

I hope his family knows how much this community appreciates him.

Will they have a service even if he is being preserved?

If so, an address to send flowers would be good.

4  Bitcoin / Bitcoin Discussion / Re: ARGENTINA COULD BE THE 1ST COUNTRY USING BITCOIN AS OFFICIAL CURRENCY on: August 05, 2014, 02:17:23 PM
I really don't know if Bitcoin would be 'compatible' as a nation-wide currency. Especially countries that suffer from economic problems need to have the ability of pulling certain levers and knobs in order to influence the market or stabilize the economy. Since Bitcoin is decentralized and an inherently unregulated currency, this won't be possible. But the idea is bold!

Check Ecuador. They were using US Dollar for some years now, and they survived
5  Economy / Service Discussion / Re: Mtgox Stolen Bitcoins moving into MaidSafe's IPO? on: April 24, 2014, 03:54:41 PM
They can just launder those coins in the altcoin market. It is possible that they were stolen from him by someone close to him (if he really doesn't own them).

Check this:

Developers, stuck without direct access to the Mt. Gox source code, resorted to playing video games, people inside the company at the time say. Employees were also concerned that Karpeles' tight grip on all company affairs was causing a bottleneck: he was the only person who could access the exchange's bank accounts and bitcoin holdings and resolve requests by traders to cash out. Former employees say they asked Karpeles to share the passwords to Mt. Gox's bitcoin wallets in case he became incapacitated or unable to access the data. He refused, leaving him as the only person able to piece together the passwords, written on paper stored at his home, the office, and an undisclosed location.

It is clear that Karpeles was the only one who was capable of committing the robbery.

How difficult could it be to attach a keylogger to his computer while he is out for a frappuccino?
6  Bitcoin / Bitcoin Discussion / Re: Another reason bitcoin will succeed: US to target Putin's $40 billion stash on: April 23, 2014, 10:56:45 PM
Putin is probably a bad example.  Putin has no problems with corrupt governments seizing private wealth ... as long as it is the corrupt private wealth seizing government he controls.  For the rich who don't control nation states the risk is more real.

In the end it turns out that AML laws are good for bitcoin. At least for its price.
7  Bitcoin / Bitcoin Discussion / Re: Another reason bitcoin will succeed: US to target Putin's $40 billion stash on: April 23, 2014, 10:46:10 PM
- Better ideas?

Of course you have to buy them off-exchanges. Ask Snowden, he might know a few bitcoin kings.
8  Bitcoin / Bitcoin Discussion / Re: Bitcoin is doomed. Thanks IRS!!! You Ass hats! on: April 01, 2014, 07:51:09 PM
maybe this was mentioned earlier but what if my bitcoins were stolen? Does this IRS ruling mean the police will investigate the theft of my property?

"My coins were stolen and the thief keeps sending me computers and appliances to my home, I don't know how to stop him"
9  Bitcoin / Bitcoin Discussion / Re: Bitcoin is doomed. Thanks IRS!!! You Ass hats! on: April 01, 2014, 07:42:44 PM
This is after all an electronic "smart currency" seems to me that there will be electronic solutions to this problem which will make the necessary record keeping required for most Bitcoin users rather invisible.
Oh yes. The same Silicon Valley companies who were overjoyed to sell their customers' privacy down the river will be rushing to solve this problem too.

They will.  They might not care about bitcoin, but they are dead serious about being big players in cryptocurrencies and the IRS regulation applies to all cryptos.
10  Bitcoin / Bitcoin Discussion / Re: For those of you who say governments can't ban bitcoin on: March 31, 2014, 01:14:54 AM
My theory: One of the three letter agencies will be in charge of crypto and will receive funding and make sure cryptos never go away. All happy. Source:my ass

11  Bitcoin / Bitcoin Discussion / Re: Is Bitcoin Built to Last a couple of decades? Will other altcoins rise up? on: March 28, 2014, 12:24:38 AM
Bitcoin will definitely be replaced by other alt coins. It was a great first start, but it simply isn't practical for everyday use, especially since we are now taxed and have to record whenever we use or recieve Bitcoins, so buying things with Bitcoin daily for some people is now out the window.
What makes you think the new IRS guidance doesn't apply to altcoins?
The ruling applies, but other coins might be easier to hide
12  Bitcoin / Bitcoin Discussion / Re: I will go out on a limb and say it. Dorian S Nakamoto is the real Satoshi. on: March 07, 2014, 06:03:36 PM
It was a large team that worked on Bitcoin.
I don't think so. Maybe he took ideas from other people but I think the original client was programmed by just one person.
Software architecture reflects the team structure and the client was a monolithic beast -> One person-team.

13  Other / Off-topic / Re: Chuck Norris & Bitcoin on: February 14, 2014, 10:06:50 PM
Chuck Norris can withdraw fiat from MtGox

When Chuck Norris mines a block, he does it right and get a zero hash.

Chuck Norris can include 1Gb of transactions in his blocks, all other miners will accept it.

Chuck Norris usually post his private keys in twitter but nobody dare using them

14  Bitcoin / Bitcoin Discussion / Re: Silk Road 2.0 hacked through malleability, ALL FUNDS STOLEN on: February 13, 2014, 09:41:39 PM
Can anyone explain how this transaction malleability bug can be exploited to steal coins from a Bitcoin address? I thought it can only happen if you are an exchange, like Gox or Stamp, and people are making withdrawals.

deposit btc
withdraw btc
generate a new txid for the same transaction
get the new tx mined before the original
hope SR system has a bug and keep your balance intact if the original tx is not mined
go loop
15  Bitcoin / Project Development / Re: BANK RUN! - P2P Fiat-Bitcoin Exchange on: February 13, 2014, 01:54:22 PM
Bob claims he never received fiat funds?
I'm not worried about the reverse case as there no question about bitcoins going through.
The graphic should show what happens if Bob does not receive the wire transfer and they agree to cancel the transaction. I guess in that case a "rollback transaction"  is necessary (input: deposit 1.2, output: Bob 1.1 , Alice 0.1) right?
16  Bitcoin / Bitcoin Discussion / Re: Bitcoin's 10000 TH network is extremely vulnerable on: January 08, 2014, 05:02:22 PM
I understand that kind of attack from a government, specially one with enough opacity in their decisions and technical skills.

Corporations are much more complex. Somebody will have to justify the money spent, decisions are to be made, corporation decisionmakers will argue is an illegal move (it certainly is if you use the hash power for a double spend), other drones will suggest other uses for the money. Is not so easy to propose something like this,at least today.

An individual can do it but it will not be rational, since he can earn much more money by simply mining with that beast.

17  Bitcoin / Bitcoin Discussion / Re: How to find Satoshi on: December 11, 2013, 05:30:47 PM
if he is listening: Please use some coins to control the price swings.
18  Bitcoin / Project Development / Re: [ANN] CoinMap - Map showing places where Bitcoin is accepted on: November 28, 2013, 02:22:39 PM
Hey - Has someone deleted the items? Not seeing any bitcoin accepting stores on there at the moment!  Huh

same for me!
19  Bitcoin / Bitcoin Discussion / Re: It took 10 seconds for the brainwallet "password1" to be taken on: November 23, 2013, 07:10:21 PM
1MbmMGrtkahbjYNfLmsbKuGFByuKvAyxnC == gun thyme nose cubic almost relish fed

This has 90.47 bits of entropy, which is more than strong enough to protect against passphrase bruteforcing, if you do the math. It may look like a bold statement to the untrained eye, but I, for one, feel be perfectly safe and happy to store up to 5000 BTC with such a passphrase.

What about adding a non-dictionary word like your your screen name in some forum, your email address, nospaced phrases like "tooyoungtodie", you can even remember them more easily than "thyme" and "relish"
20  Bitcoin / Bitcoin Discussion / Re: It took 10 seconds for the brainwallet "password1" to be taken on: November 23, 2013, 07:04:24 PM
I'm not a fan of brainwallets for myself (I have a lousy memory and also I could die at any moment )
I ended up using bitaddress random generation, BIT38 and print.
But returning to brainwallets:  What about using 12 words from dictionary and one word that makes sense for you (like DeathAndTaxesRules ) but is not any dictionary
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