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1101  Other / Beginners & Help / Re: safe full of "gold" at the bottom of the sea on: April 04, 2013, 02:12:24 AM
Back up the file (preferably before the computer erodes into a pile of dust) and start a script picking away at the file. Eventually (potentially in a couple of years, but by then BTC will only be worth more!!!) you'll get your coins back.
1102  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker on: April 03, 2013, 11:01:13 PM
Since the price has already hit $147 there are no psychological barriers between here and there.

How many psychological barriers could there be between 100.00 to 1,000.00 after BTC hit 100 I lost any doubt that it could just continue to grow indefinitely.
A lot? One at $148 no doubt, one at each of the $100 marks, and a monumentally sized one at the $1000 mark. 
1103  Bitcoin / Press / Re: 2013-04-03 The Guardian Confused about Bitcoin? It's 'the Harlem Shake of...' on: April 03, 2013, 10:15:56 PM
When reading an article that calls something "the Harlem Shake" of pretty much anything, you instantly know youre being trolled.
1104  Economy / Currency exchange / Want to BUY bitcoins, I have LIBERTY RESERVE. on: April 03, 2013, 09:13:03 PM
Aurum Exchange wont give me coins for LR for whatever reason.
Gox is down.
Xchanger is out of BTC.

I have only $50, but it'd be nice to exchange that to BTC a the current BTC-E rates (normally I'd say gox, but as you know, it's down).

Anyone interested?
1105  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker on: April 03, 2013, 09:06:48 PM
perhaps the best way of responding to this would be instead of inadvertantly DDOSing mtgox with a billion pageloads, focusing on getting this thread up to 1000 replies for lulz.
1106  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker on: April 03, 2013, 08:58:05 PM
This is my favorite thread. I stay on it for hours looking at the huge HTML overflow of a page selector.
1107  Economy / Speculation / Re: POP! (and up we go again....) on: April 03, 2013, 08:54:28 PM
Just got an email from gox that my wire went through, even though their website is down  Huh I guess thats perfect timing though, because now I can buy @ $110-ish.  Wink I'm also honored that their support people decided to process my wire rather than work on getting their site back up, now I feel very important.  Cheesy
1108  Economy / Economics / Re: Things getting interesting once we past $100 on: April 03, 2013, 08:22:55 PM
So now that there's another "bubble" at full speed, I'm reaching a point where crossing $100 will mean that me as well as others are making some serious money (I'll leave up to you to define what serious money is)
My concern now is, what if i want to sell and withdraw the money to my US Bank Account.
How do I avoid uncle sam to stick its hand in my cookie jar and takes the tax share?
What if I don't report it?
What if I transfer small amounts ($1000 at a time ever week or so..)
Any accountants in the forum to help me do the laundry? Tongue


Liberty Reserve. Thats what I did (a mite too early, I might add).
1109  Economy / Speculation / Re: Explanation: What happened at Mtgox today... on: April 03, 2013, 08:00:36 PM


This is going to serve as a visual demonstration of how my software works from now on.
1110  Economy / Economics / Re: This bubble reminds me of something.. on: April 03, 2013, 07:49:08 PM
It's not a ponzi scheme, it's classical bubble like dot com or real estate.

Starting from March 16 crowds of greedy inexperienced people (zombies) rush for bitcoin because of "As Seen on TV" factor.
They don't realize what bitcoin is and how does it work, the only thing they believe is that it is everlastingly deflating and profitable.

But every bubble has its peak and then crash.

To start the crash it's only necessary to make a prime time TV show telling a horror story, something like
"poor single mother sold everything to buy BTC at $200 and then committed suicide after it dropped to $150".
Bump! And hordes of greedy zombies are running to sell sell sell in panic.

However, bitcoin will not die. Just a year later the bubble will happen again, then again, and again. I'd say Perpetum Bubble  Grin
Lets hope not.

What needs to happen is somebody (preferably somebody large with money) to say "I'll buy bitcoins for $x.  Not any more than $x, I'm not gonna facilitate a bubble. But I'll buy them at $x." That would truly support the currency in the long term.  Also it could make that person a fair amount of money on every bubble as he is essentially always buying at the bottom.
1111  Economy / Speculation / Re: At what price would you buy Bitcoins in a dip? on: April 03, 2013, 07:42:09 PM
Shouldn't the question be "At what price difference (percentage) would you blah blah blah?".
Perhaps, but then it gets too complicated. If the price went up to $1000, I'd wait longer than a 30% decrease to buy it again, but if the price dropped from the current price down to $100, I'd buy as much as possible.

Basically, this poll applies during current market conditions.
1112  Economy / Speculation / Re: btc crashing, the great sell off has begun on: April 03, 2013, 07:27:23 PM
Somebody, quickly, sell me you're bitcoins before the price goes down further!

1113  Economy / Speculation / At what price would you buy Bitcoins in a dip? on: April 03, 2013, 07:23:57 PM
[Reposting this from newbie section because this seems like a more appropriate place.]

You wake up tomorrow (or the day after, or the week after) and some people (it must be the government!) decided it'd be time to take profit and dump a ton of BTC on MTGOX. Ticker is back into the $110-ish range and falling. At what price do you decide to buy, and how much do you think you'd risk, or would you just run away as fast as you can?

Personally, I think $100 is a great level to buy at. I'm not saying that BTCs are only worth $100, I'm merely saying that $100 is a level I think that many people will be sad to sell below and is thus a major support for the price.
1114  Bitcoin / Bitcoin Discussion / Re: Western Union to begin accepting Bitcoin (WSJ) on: April 03, 2013, 07:01:09 PM
Read this if you still think WU is awesome
https://bitcointalk.org/index.php?topic=125257.0
Yay, spooky stories!
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Also google 'western union complaints' and read about immigrants having no money because WU held their transfers for 60days, even after WU screwed up and gave people the wrong MTCN (it happens).
Also google 'Liberty Reserve complaints' and read about how LR is 'stealing peoples money.'
Also google 'Egold complaints' and read about how E-Gold exists only to support ponzi schemes.
Also google 'Bitcoin complaints' and read about how Bitcoin was 'hacked' and how some transfers 'never confirm.'

You can find some person that feels like complaining about anything.
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Agent fucks up, wait 60 days for refund, and everytime you phone you get a 3rd world call center rep who knows nothing except scripted responses.
This is pre-bitcoin technology. You know, when there are people doing work, not computers, and where those people occasionally make mistakes, and where money takes time to transfer (time, as in days, not minutes). Just because they haven't adopted Bitcoin technology that will solve these problems yet doesn't make them 'evil' it just means that they haven't used Bitcoin yet.

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WU should die, Bitcoin is perfectly suited to kill them and all the other money transfer cash rackets who've been fleecing us for decades. I thought that was the point of decentralized currency so we don't have to rely on these asshole payment corporations telling us what we can and can't do anymore.
You don't 'have to' rely on WU any more than you 'have to' rely on MTGOX. WU will (may) provide an easy way of exchanging to/from BTC, as well as potentially instantly-confirmed transactions using BTC. If you don't want to use it, then thats fine. I fail to see how WU getting involved is any different than, say, Microsoft implementing a new proprietary Bitcoin wallet in Windows Blue or any other corporation trying to make money off of bitcoin. They are corporations, they try to make money. Bitcoin is a good opportunity for them to do this. If you want to use their services, and pay for them, then thats fine. And if you don't, then I dont give a fuck TBH.
[/quote]
1115  Bitcoin / Bitcoin Discussion / Re: Western Union to begin accepting Bitcoin (WSJ) on: April 03, 2013, 06:51:15 PM
So... what's to stop someone from doing the exact same thing with Bitcoin-qt, and inserting a malicious version of the client into the download section that will send a copy of your private keys to them, allowing a whole slew of newbies to download and use it before it gets noticed and fixed?
Nothing. That's one reason I tell people to use an offline Armory wallet for their savings and why that recommendation will probably change to some kind of hardware wallet once those become available.
Oh my goodness, talk about a conspiracy theorist.

Its open source. When money randomly disappears, people will notice "hey, wtf, my money disappeared, maybe I aught to look at source." Then they will see the fact that it is a scam, and nobody will use the web-wallet or software any more.

Furthermore people are very slow when it comes to switching to new software (http://www.ie6countdown.com/). The bitcoin community being what it is, people would probably find a change like that in less than a few days. The scammy developers would thus lose much more than they gain.

1116  Bitcoin / Bitcoin Discussion / Re: Western Union to begin accepting Bitcoin (WSJ) on: April 03, 2013, 06:46:13 PM
2) The person operating the website hosting the web-wallet got hacked and wasn't using blockchain.info style encryption.
3) The person operating the website hosting the web-wallet was a scammer and wasn't using the blockchain.info style encryption.
One of these two things will happen to every web wallet operator, regardless of whether or not they use blockchain.info style encryption. Every time the value of Bitcoin goes up the incentive to steal from a conveniently centralized repository increase. Eventually the incentive to steal overcomes any safeguards that can be put in place. This has happened over and over again throughout the history of Bitcoin. Web wallets are a scammer's paradise.
The issue here is, obviously, that they CAN'T STEAL FROM SOMETHING THEY DON'T HAVE ACCESS TO. How exactly are they going to go about stealing from your wallet that only you have the encryption key to, huh? About the only thing they could try is to get you to pass to them your key by modifying the JS upon login.

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If a honest company comes out, like WU, and starts providing non-sucky wallets, they won't have to learn, because they won't have to lose. And if they don't trust WU? Then by all means, use your own wallet. Unlike banks, WU isn't stopping you.
Laiki Bank was a honest company too.
Laiki Bank is part of the EU.
1117  Other / Beginners & Help / Re: mtgox sux on: April 03, 2013, 06:31:56 PM
How is it so hard to finish a wire. They say 1-3 days, in a few hours its gonna be 4, and they haven't given me my bank wire and BTC is climbing higher still. The effective exchange fee on that wire is something like 50% considering you factor in the rising rate of BTC.  Cry
1118  Economy / Speculation / Re: Anyone have fundamentals to support a higher value on BTC? on: April 03, 2013, 06:28:58 PM
Since hyper-inflation and Fiat were brought up, here is another article which helps explain why I don't see any near term USD hyper-inflation coming:

http://www.businessinsider.com/treasuries-are-not-in-a-bubble-2013-4

Treasuries are not in a bubble (tons being printed every day) but BTC is (strictly controlled quantity by math). Yea, that makes sense.
1119  Bitcoin / Bitcoin Discussion / Re: Western Union to begin accepting Bitcoin (WSJ) on: April 03, 2013, 06:28:00 PM
I don't get what you have against web-wallets.
Mostly it's about how they all eventually lose coins. [/qutoe]
How do they lose coins? You can't just stand up and declare that they will lose coins. There has to be a reason. They will lose coins in 3 situations:
1) The person using the wallet was an idiot.
2) The person operating the website hosting the web-wallet got hacked and wasn't using blockchain.info style encryption.
3) The person operating the website hosting the web-wallet was a scammer and wasn't using the blockchain.info style encryption.

Its easy to say "they all eventually lose coins, the ones that are currently live haven't, but they will sooner or later." Thats because the ones that don't loose coins have no reason to stop working, and the ones that do lose coins tend to stop.

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Everybody already has to trust the banks.
Not anymore.
I'm talking about non-bitcoin users. They are used to trusting the banks. Trusting a web-wallet isn't any different.

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I trust things like blockchain.info much more than the banks considering they actually don't have control over my wallet file.
Because of their superior design compared to other web wallets, I consider them to be suitable for holding small amounts of funds on the same order as the amount I am willing to carry around as physical cash.
Oh please. They are just as secure as any 'normal' wallet. The blockchain.info design is the future for the vast majority of people in this world. Only, probably with significantly fewer long strings of numbers.

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The vast majority of people out there simply aren't going to have the knowledge needed to control their own wallet.
They will eventually obtain that knowledge. It's only a matter of how much money they will have to lose before they decide to learn.
If a honest company comes out, like WU, and starts providing non-sucky wallets, they won't have to learn, because they won't have to lose. And if they don't trust WU? Then by all means, use your own wallet. Unlike banks, WU isn't stopping you.
1120  Economy / Speculation / Re: Worst case scenario... on: April 03, 2013, 05:52:17 PM

MS Access 2003?Huh
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