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September 28, 2022, 07:39:18 AM *
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1  Bitcoin / Bitcoin Technical Support / Re: PYWallet Help - Dumping encrypted private key on: September 01, 2013, 08:46:51 PM
Bitcoin isn't running. I have full 777 permissions in that directory. If I rename wallet.dat to otherwallet.dat, and then run Bitcoin (to generate new wallet.dat file), then stop Bitcoin, then execute the exact same command, then it will work. Does this indicate a corrupted wallet.dat file?
Likely, try the wallet recovery feature on this corrupted file
would it also be possible that the file isn't matching something else contained in my Bitcoin data directory? I noticed that your program is reading the DB files and you should probably know that the wallet.dat file is not my own, its someone else's that I just plopped down into my data directory.

Quote
Also, you may want to tell the user something before changing his wallet selection. When I went pywallet.py --walletdump --wallet=otherwallet.dat (the file I then renamed to wallet.dat) it just walletdumped wallet.dat because it couldn't read otherwallet.dat or something. That managed to confuse me a bit.
This is REALLY odd
This is not an expected behavior, nor something I ever heard...
Are you sure this is what is happening?
No symlinks?

[/quote]
I have no idea. There is a symlink, so I didn't have to put in the datadir param. But if I do the same thing setting datadir to go "around" the symlink, same thing is happening.
2  Bitcoin / Legal / Re: FinCEN responds to clarification requests on: September 01, 2013, 08:04:42 PM
The thing that makes sense and is actually enforceable and reasonable is for FinCen to regulate transactions at the same time its taxing them: When fiat becomes involved. Furthermore, doing an exchange within a regulated exchange should prevent you from needing to become a regulated exchange. That doesn't seem that hard.

This deal about miners needing to become regulated just to exchange is sorta dumb, especially if they are going through something that actually needs to be regulated (like Mt Gox). Also, how the fuck are you going to tell I mined the coins myself? Mine 'em, stick 'em through a mixer, oh look I no longer have new coins time to exchange.

Everything other than the regulation of exchangers to me seems like a load of bollocks.

Another thing that is stupid is that the exchanger has to be registered 51 goddamn times, making the barrier to entry several hundred thousand dollars, which serves no purpose other than stifling competition, its not as if Mt. Gox needs to collect each client's ID 51 times over or something. But thats a different subject.  

Since almost every single bank in the US is scared shitless to do any business with BTC I think it's going to end up biting them in the end.  I bank with US Bank and went to them about future deposits coming in to my account.  I was told that at this point they want nothing to do with it, and if they see any deposits coming in they will shut me down. I have been waiting on the magic Google search for "bitcoin friendly banks" to spit out a friendly answer and can't get a winner... When Google doesn't have an asnswer something is wrong.   There are plenty of other ways to get fiat without leaving a trace, and it seems like that is what they are going to force everyone to do.  They scream tax evasion while forcing your hand.  Got to love the government.  Although... someone has to pay for the illegal searches they do on the American people every day... that has to get expensive.  

Well there is Fidor Bank.
3  Bitcoin / Legal / Re: FinCEN responds to clarification requests on: September 01, 2013, 07:57:47 PM
The thing that makes sense and is actually enforceable and reasonable is for FinCen to regulate transactions at the same time its taxing them

FinCEN has no authority to tax, that is the IRS.  If you think the "government" is coordinated then you have a big misconception.

By "it" I meant the government, not FinCen specifically. Also, to be fair, one of the primary purposes of FinCen is to enforce AML laws, and the main purpose of AML laws is to ensure that taxation happens, so yea.
4  Bitcoin / Bitcoin Technical Support / Re: PYWallet Help - Dumping encrypted private key on: September 01, 2013, 07:53:22 PM
EDIT: No, not a permissions problem. For some reason it refuses to use any wallet but my own. Can that error also happen because of a corrupted wallet or something? Here's what i'm getting, now that I've made the target file the wallet.dat file:

Quote
> pywallet.py --walletdump
WARNING:root:pycropto or libssl not found decryption may be slow
`ecdsa` package is not installed, pywallet won't be able to sign verify messages.

ERROR:root:Couldn't open wallet.dat/main. Try quitting Bitcoin and running this again.

Bitcoin isn't running. I have full 777 permissions in that directory. If I rename wallet.dat to otherwallet.dat, and then run Bitcoin (to generate new wallet.dat file), then stop Bitcoin, then execute the exact same command, then it will work. Does this indicate a corrupted wallet.dat file?

Also, you may want to tell the user something before changing his wallet selection. When I went pywallet.py --walletdump --wallet=otherwallet.dat (the file I then renamed to wallet.dat) it just walletdumped wallet.dat because it couldn't read otherwallet.dat or something. That managed to confuse me a bit.
5  Bitcoin / Bitcoin Technical Support / Re: PYWallet Help - Dumping encrypted private key on: September 01, 2013, 07:38:36 PM
Figured out problem, I was specifying a different wallet file, but for some reason (Huh) it was failing to open that file, so (I think?) it defaulted back to the normal wallet.dat file, and since my own wallet.dat file is significantly weird I managed to confuse myself. It appears to have just been a fancy permissions problem. Fixed now, sorry to waste your time.
6  Bitcoin / Bitcoin Technical Support / PYWallet Help - Dumping encrypted private key on: September 01, 2013, 07:06:18 PM
Sorry if this is a dumb question which makes me look like an idiot, but I have been unable to extract the private keys from the wallet.dat file. I've been trying to use pywallet.py, but each time I do, I get the following:

        {
            "addr": "1ktfy4LrHRQ2bmLauCdstbgGJEpPa8Qm6",
            "n": 101,
            "nTime": 1378059316,
            "nVersion": 80300,
            "public_key_hex": "03e9795fcadcba658da6550517bc239c8bcd86d00741c527533ffb22ac4474eb2c"
        }

There is no privkey section. When I try to go through the web interface to do keydump, I get "File not written". In fact all I can get to work is wallet dump. All of the other commands cause errors.

Any idea what might be causing this?
7  Bitcoin / Legal / Re: FinCEN responds to clarification requests on: September 01, 2013, 04:12:51 PM
The thing that makes sense and is actually enforceable and reasonable is for FinCen to regulate transactions at the same time its taxing them: When fiat becomes involved. Furthermore, doing an exchange within a regulated exchange should prevent you from needing to become a regulated exchange. That doesn't seem that hard.

This deal about miners needing to become regulated just to exchange is sorta dumb, especially if they are going through something that actually needs to be regulated (like Mt Gox). Also, how the fuck are you going to tell I mined the coins myself? Mine 'em, stick 'em through a mixer, oh look I no longer have new coins time to exchange.

Everything other than the regulation of exchangers to me seems like a load of bollocks.

Another thing that is stupid is that the exchanger has to be registered 51 goddamn times, making the barrier to entry several hundred thousand dollars, which serves no purpose other than stifling competition, its not as if Mt. Gox needs to collect each client's ID 51 times over or something. But thats a different subject. 
8  Bitcoin / Legal / Re: Groklaw shutting down on: September 01, 2013, 03:58:35 PM
Why not just encrypt the emails?
9  Economy / Speculation / Re: Where is the BTC price headed? on: September 01, 2013, 03:52:45 PM
Average people buy drugs?
10  Economy / Speculation / Re: Is the bubble over or has it just started ??? on: September 01, 2013, 03:48:24 PM
I feel like bitcoin price is recovering way too fast after the last bubble burst. Could it be that the bubble was just the beginning of something much bigger ?

People can't get dollars out of Gox, so they buy bitcoins.

What about EUR.
11  Economy / Speculation / Re: If you could convert your paycheck into bitcoin (like automatically) on: September 01, 2013, 05:05:52 AM
Would this service also be a simulation?
What does this mean?

This is a demo instance of the CoinLenders Bitcoin Bank Script. While this demo is fully functional, nothing is real, and nothing is an investment.

Like that would help you in court.

Wow, that one's new. Now, if that were to go to court, it would make a really interesting news story, lol. I don't think that would work in this scenario as I'd actually accept cheques which obviously aren't demo, and if they were to bounce obviously I'd have to take legal action.

So yea, I opened this thread to see what people think, not because I actually intended to start a business doing this. I mean, it would sorta be cool if I could, but I can't now, so I won't. Vaguely in the vague future I want to, though.

So are you or are you not running an unlicenced lending business?
What? I don't run any lending business at all?

EDIT: Wait, you need a license to lend? Holy crap, thats news to me. What don't you need a license to do anymore?
12  Bitcoin / Legal / Re: Is Bitfinex technically usury & illegal? on: September 01, 2013, 05:04:49 AM
Is it different for civilian?
Yes. Interest rates for military personnel are hard-capped by the US Federal Government at 36% APR, anything above that is criminal usury. Everyone else can write a contract for whatever APR they agree upon, however it still must comply with your state's usury laws.

Now here comes the fun part:

Say theoretically I'm based in one state, where there is a higher usury cap, than in your state. I loan to you, at an interest rate, which happens to be higher than the usury cap in your state, but not higher than the usury cap in my own state. Also, say I were to put a section in the contract, like google does:

Quote
Terms, and your relationship with Google under the Terms, shall be governed by the laws of the State of California without regard to its conflict of laws provisions. You and Google agree to submit to the exclusive jurisdiction of the courts located within the county of Santa Clara, California to resolve any legal matter arising from the Terms. Notwithstanding this, you agree that Google shall still be allowed to apply for injunctive remedies (or an equivalent type of urgent legal relief) in any jurisdiction.

Does this work? If so, I should probably tell Bitfinex to stick that somewhere in their terms, as they are out of the USA entirely and thus don't have any usury cap (at least, not that I'm aware of) entirely. 
13  Economy / Speculation / Re: September and October will be eventful. on: September 01, 2013, 03:51:25 AM
You only trade with money you can freely lose, so what would you be afraid of?

Thats the biggest joke of all time.
14  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore on: September 01, 2013, 03:41:49 AM
Walsoraj your Ignore button... its glowing!   Tongue
haha
15  Economy / Speculation / Re: If you could convert your paycheck into bitcoin (like automatically) on: September 01, 2013, 03:40:27 AM
Would this service also be a simulation?
What does this mean?

This is a demo instance of the CoinLenders Bitcoin Bank Script. While this demo is fully functional, nothing is real, and nothing is an investment.

Like that would help you in court.

Wow, that one's new. Now, if that were to go to court, it would make a really interesting news story, lol. I don't think that would work in this scenario as I'd actually accept cheques which obviously aren't demo, and if they were to bounce obviously I'd have to take legal action.

So yea, I opened this thread to see what people think, not because I actually intended to start a business doing this. I mean, it would sorta be cool if I could, but I can't now, so I won't. Vaguely in the vague future I want to, though.
16  Bitcoin / Legal / Re: Is Bitfinex technically usury & illegal? on: September 01, 2013, 01:44:25 AM
Holdup: But I can borrow USD from Bitfinex.

Are they arguing that they are out-of-state and thus don't have to follow state's usury laws? Even if they argue that, they are still violating the 36% interest rate cap for members of the US Army.
17  Economy / Speculation / Re: If you could convert your paycheck into bitcoin (like automatically) on: September 01, 2013, 01:42:43 AM
Would this service also be a simulation?
What does this mean?
18  Bitcoin / Legal / Did Instawallet need a Money Transfer License? on: August 31, 2013, 11:08:48 PM
I am aware that companies like Blockchain.info aren't MSBs because they are 'users' under FinCen's definition. However, what seems like a potential grey area is something like Instawallet that functions like Blockchain.info, but actually holds your funds. Also there is Blockchain.info's Coin Mixer, and inputs.io.


"a person that creates units of convertible virtual currency and sells those units to another person for real currency or its equivalent is engaged in transmission to another location and is a money transmitter."

This is already sort of dubious as implies that all miners that "cash out" are exchangers and need to be licensed, which I can't believe to possibly be true. But there is also this:

"The second form involves a de facto sale of convertible virtual currency that is not completely transparent. The exchanger accepts currency or its equivalent from a user and privately credits the user with an appropriate portion of the exchanger's own convertible virtual currency held with the administrator of the repository. The exchanger then transmits that internally credited value to third parties at the user's direction. This constitutes transmission to another person, namely each third party to which transmissions are made at the user's direction. To the extent that the convertible virtual currency is generally understood as a substitute for real currencies, transmitting the convertible virtual currency at the direction and for the benefit of the user constitutes money transmission on the part of the exchanger."

The 'exchanger' (i.e, potentially, Instawallet or Blockchain.info) is receiving currency (Bitcoin) from a user and privately credits the user with an appropriate portion of the exchanger's own convertible virtual currency (money inside instawallet, or, the promise by Blockchain.info to give you your coins after mixing) held with the administrator of the repository (i.e, instawallets wallet.dat file). The exchanger then transmits that internally credited value to third parties at the user's discresion (you use your instawallet to pay somebody).

It seems sort of dumb and nonsensical that Blockchain.info wouldn't be regulated and something like inputs.io would considering they serve basically the exact same purpose (an online Bitcoin wallet). Do you think that Fincen would really want to enforce this rule in such a way, or is it just another one of those bad wordings such as the one that implies miners are exchangers?
19  Economy / Speculation / Re: If you could convert your paycheck into bitcoin (like automatically) on: August 31, 2013, 10:44:49 PM
Well, doesn't it depend on the currency you are being paid in? If it's US, Cdn, "stable" money, it's fine, short term. Plus, I need enough fiat for my mortgage, FOOD, etc. But it is rational to allocate some (speculative) amount to Bitcoin. Wouldn't look askance at Gold, either.

That is 'recurring' expense. Perhaps you are looking for option 2?
20  Economy / Speculation / Re: Peak/Reversal Watch on: August 31, 2013, 10:39:55 PM
By this logic spreads should always be moving outward toward infinity.

Conceptually, but not actually. Even though it might look like the tails of distributions might asymptotically approach infinity they are actually limited by the smallest unit volume. Which, I would estimate to be the sum of $trade volume to date divided by the current block reward.

I know, it is a large, ridiculous number. But when estimating the shape of a distribution curve it is a much more reasonable starting/ending place than infinity.

That is to say, theoretically, that is closer to what the actual price would be if those were the only BTC offered.


Sure, the only problem is, the $trade volume to date divided by the current block reward is approaching infinity.

Hint: The problem with this logic is that the price will GO UP.
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