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Author Topic: Bitcoin press hits, notable sources  (Read 402031 times)
dacoinminster
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June 20, 2011, 09:29:24 PM
 #841

http://kommersant.ru/doc/1656928 (in Russian)

Respectable publication and rather very positive article overall.



Google translate is acting weird when I try to translate that link (translation shows up briefly then disappears). Here is a copy/paste of the translation:



Quote
Neglected currency

Bitcoin - virtual currency, organized on the principle of p2p-networks, known to everyone familiar with torrents. CyberDengui seller receives from the buyer directly, just as users of BitTorrent trackers to share music or movies. The fundamental difference of electronic payment systems or online banking - there is no bank or an organization such as WebMoney, which can track the transaction and, say, report it to special services.

Argued that the system came up with Satoshi Nakamoto Japanese tehnobog. Personality is even more mysterious than the Julian Assange. In the case of the latter can guess what he actually wants, but it at least a real person, even with their sex scandals. Nakamoto also may exist only as texts on the Internet that make apologies ambitious project. In the article "Bitcoin: a peer-to-peer electronic cash system", he says, the modern Internet commerce, trust-based users to a financial institution, which monitors and carries out payment transactions at an impasse. The presence of a third party increases the cost of operations, but the main thing - it is possible to dual-use facilities. And even if the broker is honest, it can attack from the outside.

And because human guru cyberpunk. As soon as Sony Corporation managed to recover after a hacker attack, paralyzing its online services, the criminals went around the protection of electronic services Citigroup, stealing hundreds of thousands of these customers. In response to the arrest of Julian Assange international hacking group Anonymous is attacking payment systems MasterCard, PayPal and Visa, and in addition the bank PostFinance, because payment systems and credit organization blocked the collection of donations to WikiLeaks. Retribution is not gone and Amazon, the project failed to Assange hosting.

NATO declares war on "Anonymous." In early June, Spanish police detain three members of the group. But in a universe of cyberpunk good (if you count its agents servants of the law) does not win. "Challenging Anonymous, you make a terrible mistake - the hackers responsible for the NATO statement .- If you can cut off one of the heads of the hydra, in its place will be ten new. Grab one anonymous - our ranks augmented by ten new".

Against this background and develops Bitcoin. The system actually built not only on trust, but also on methods of cryptography, which provide anonymity of users. The possibility of fraud inherent in it is limited to the algorithms of mathematical probability: the system is stable, while honest users are the majority. A chance that the crooks disrupt stability, such as a drop-down four times zero on the roulette table.

Another key feature. The project is programmed to slow down emissions over time - in circulation will never be more than 21 million bitkoynov (BTC). This restriction shall prevent the devaluation of kibervalyuty. Why 21 million? Nobody knows. Just because the creator decided.

Something similar should appear, according to Alexei Smirnov, CEO of ALT Linux. The vast army of anonymous, which has long been a virtual life is more important than reality, we need a currency that is not tied to government commitments.

Peace Mining

Use the application Bitcoin not harder than any torrent client. Only two buttons - "Send the coin" and "Address Book". Under them - the identification code wallet (set of letters and numbers), its balance sheet, information on incoming and outgoing transfers (status, date and description).

What lies behind austere interface? E-coin is a sequence of digital signatures of buyers and sellers. Each bitkoyn stores all transactions in which he had to participate. A signature can be placed on any bitkoyn, but the recipient of the coin (or more precisely, his computer) and check it rejects the operation if the coin does not belong to you. It can not be sure that the coin was not used by you or someone from the previous owners a few times.

That is theoretically possible to try to spend money that you have already spent up to this: According to Satoshi Nakamoto, it's the only way to fraud in the system (in theory can actually steal and kiberkoshelek, a few files on your hard drive, but it is assumed that the audience is able to protect the personal Bitcoin data). Therefore, computer users and engage in a constant confirmation of transactions. As a result, fair operation form chains. In the event of an attack (if unscrupulous users will confirm fraudulent transactions), the chain fork. Conscientious users by default complement the longest branch of the chain, so the true branch will grow faster, while bona fide computers in the system anymore.

   "I hope that becomes a full bitkoyn payment instrument. I think it's much better than paper money, which impaired the growth of the economy"


Members are involved in the calculations for a reason - act bitkoyny reward. That's how it issues. The amount of remuneration depends on the complexity of which is directly proportional to the total computing power of Bitcoin-community. The more participants in the system, the easier it is to believe the smaller coins goes to everyone. The process is called extraction, in the original - mining. After mining ceases (now in the system of about 6 million coins left to issue another 15 million), the only means of income due to the contribution to the development of the system will collect voluntary committees.

Where did they come from, if there is no charge to intermediaries - one of the principles Bitcoin? The processing of transactions in the system can take a long time, up to several months. To speed up the process, you can translate a little more money than required by the seller, the difference will get the user who will process and confirm this action out of turn. The presence of rewards entices users to honest behavior: production and receipt of commissions profitable fraud.

For the average computer Mining - a bloody sport. Initially it was assumed that bitkoyny will make a processor capacity. One of the Russian miners, Permian programmer Alexander said, "Money," which as the first "mine", he used a regular MacBook. A year ago, with his help it was possible to earn fifty coins for a few days. But it soon became clear that a better fit for mining special processors for floating point operations - such put into the video card. Now, without such "hardware" is not enough - the cost of computing declines rapidly.

In April, the interlocutor "Money" has got AMD Radeon 6870 card for about 7 thousand rubles .- money back within a couple of weeks: Alexander bitkoyny sold at the rate of $ 6.5 for a BTC. There are online calculators that allow you to evaluate the potential income (one of them - www.alloscomp.com / Bitcoin / calculator.php ). Now this calculator will show that even the most powerful graphics card for the day will earn no more than 0,5 BTC.

   "Why can not we assume that the project Bitcoin and created just the U.S. intelligence agencies? The fact that such is the WikiLeaks, I'm sure all these plums were needed the Americans to set fire to Arab arch"


If Alexander waited a couple of weeks have been able to help out more - soon took off course and $ 30 for kibermonetu. At the time of delivery rooms, "Money" was given about $ 20 per coin. Bitcoin apologists say that such jumps were predicted: early system are what makes miners and speculators who buy bitkoyny for resale. With Alexander we communicate in Skype, participates in a conversation one miner - Arsen. He also earns mostly programming, the emergence of Bitcoin regards as the beginning of the financial revolution. "I would speak as part of the economy, benefit from its growth - says the source," Money ".- In general, I hope that becomes a full bitkoyn payment instrument. I think it's much better than paper money, which impaired the growth of the economy. I'm only 20 bitkoynov. Not much, but it's better than a voucher in the era of privatization. " In the last month, Arsene bought four maynerskie card. They are packed in two system units and never switched off. At night they bring about two BTC.

All this stuff is, of course, noisy and hot. On maynerskih forums can be read anecdotal stories. Someone grabbed a dream heat stroke, well at least still alive: the room was a lot of system unit with overclocked cards. To the other, "the miner" raided by the police: power consumption has increased so that the guards suspected him of "growing hydroponics."

Enemies of the State

The official list of online stores that accept the money, can be found at en.bitcoin.it / wiki / Trade . In Silicon Valley, there are already billboards vendors that support kriptovalyutu. The page on Facebook Bitcoin published a photo of one of them: advertised online store of computer hardware memorydealers.com. Starting in the street, the advertising campaign continued in the national radio. Comments to the picture - entirely enthusiastic. Someone wrote: "I hope that something similar will appear at my house in Croatia."

But in fact deserving attention is almost no sales. Russian general, no. Online Stores from the list, which represent at least some interest, and take the traditional payment instruments. To participate in the project Bitcoin - marketing. This is mainly kibervalyutu sell computer hardware and software.

Not so easy to withdraw money from the system, that is, simply, to make bitkoyny in dollars. There is a Japanese Internet Exchange mtgox.com (daily turnover of transactions with bitkoynami recently exceeded $ 1.5 million). The coins can be sold at the current rate, or put your quote and wait for the buyer will be found. Exchange Commission - 0.6%. With mtgox.com money into the system are derived Liberty Dollars. For this will take about another 2%. After that - a bank account through one of the many heat exchangers. This is an expensive operation - 5%. That will have no less than 10%.

But the project only two years. When a virtual means of payment will certainly become widespread, according to Artyom Genkin, executive director of the consulting group "Aspect", a full member of RANS. True, there will be kibervalyuty, which monopolizes the whole market, the expert continues, such are the laws of cyberspace, which gives many a chance, pledging not rule anybody. "Based on the model of emission, the creators of the selected project, I think the system would be to break the traditional audience of peer to peer networks - concludes the interlocutor" Money ".- Will Bitcoin dilute this audience, say, a young yuppie advanced?"

The big question is whether the project will evolve. A week ago, two U.S. senators asked the Justice Department and controlled by his management of drug with a complaint Bitcoin: there is an online shop, Silk Road, he sells drugs (340 species) and pay only bitkoynami.

On that count senators? Example torrents shows that a decentralized system does not destroy. On the human ghost Satoshi Nakamoto from the site Bitcoin push hard. "According to formal criteria (the performance of transactions on the generation or transmission of coins from the computer a resident of a country standing on a desk in an office building within the same country), the power of individual states may try to otlitsenzirovat this system or to blame the lack of a license," - says Artem Genkin . Another possible method of attack on the system, the expert continues, - to catch it mediated a deal to trade in something illegal (by the same illicit drugs).

The system will certainly be subjected to harassment, if it becomes popular, says managing partner "Ashmanov and partners," Igor Ashmanov. "On the other hand, why can not we assume that the project Bitcoin and created just the U.S. intelligence agencies? - Shrugs Ashmanov .- The fact that such is the WikiLeaks, I'm sure all these plums were needed the Americans to set fire to Arab arch" . The assumption is in the spirit of Orwell: freedom - this is slavery, Big Brother is watching us.
   

   

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June 20, 2011, 09:38:30 PM
 #842

Another CNBC coverage with video:

http://www.cnbc.com/id/43470148

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June 20, 2011, 09:44:21 PM
 #843

Kommersant.ru - wow ! It is very serious economical media source in Russia.

We will  meet in not-so-distant future.
Today`s strange music :
http://www.youtube.com/watch?v=V8mCgjbBPMk
Yesterday`s  strange music:
http://www.youtube.com/watch?v=-uCTyC1FGLw
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June 20, 2011, 10:11:19 PM
 #844

Another CNBC coverage with video:

http://www.cnbc.com/id/43470148

It says Gavin has been meeting with congressmen. Is there a thread with details on this?
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June 20, 2011, 10:19:29 PM
 #845


"long pieces of computer algorithms" has to be my favourite all time definition of bitcoins  Cheesy

took me a while... they're talking about the blockchain! hilarious!

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June 20, 2011, 10:29:00 PM
 #846

P.P.S. weusecoins video finally got it's mainstream TV spot (even if just outtakes), congratulations.

your probably talking about "mainstream english-speaking TV", right, because otherwise:


tagesschau is pretty mainstream Wink

maybe also the "czech CNN" piece (with slush in it) had outtakes of weusecoins, not sure: http://www.ct24.cz/vysilani/2011/06/05/211411058050022-20:00-horizont-ct24/

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June 20, 2011, 10:33:52 PM
 #847

molecular, fair comment. Roll Eyes

It would be more accurate to say CNBC the financial reporting behemoth of TV. This is a channel which many many traders have in background all day long while trading all around the world. The pulling power of bitcoin via this little exposure on people with money to throw around shall not be underestimated.

-
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June 20, 2011, 10:43:49 PM
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molecular, fair comment. Roll Eyes

It would be more accurate to say CNBC the financial reporting behemoth of TV. This is a channel which many many traders have in background all day long while trading all around the world. The pulling power of bitcoin via this little exposure on people with money to throw around shall not be underestimated.


I liked the reporter's little quip at the end "I have a feeling we'll be hearing more about bitcoins in the future". I'm imagining the day they'll flash the USD to Bitcoin exchange rate on the ticker at the top, next to the Euro and Yen.

What does it take to get Bitcoin on Forex?

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June 20, 2011, 10:47:26 PM
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What does it take to get Bitcoin on Forex?

The support of a central bank.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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June 20, 2011, 10:55:44 PM
 #850


What does it take to get Bitcoin on Forex?

The support of a central bank.

Ok I support it.

 Grin

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June 20, 2011, 11:04:08 PM
 #851


I just clicked that link, above the article there is a large blue paypal banner, its says

"PAYPAL

Trust your online payments to the experts"

 Shocked


it looks a little rough, maybe they chucked it together in a hurry and got it included with the normal banners last minute?
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June 20, 2011, 11:47:43 PM
 #852

http://www.schiffradio.com/

Quote
Today's guest is Donald Norman, co-founder of Bitcoin Consultancy, on why an online digital currency is the monetary system of the future.

Peter has a large following of very savvy investors and this could make a big impact.
dacoinminster
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June 20, 2011, 11:50:16 PM
 #853

http://www.schiffradio.com/

Quote
Today's guest is Donald Norman, co-founder of Bitcoin Consultancy, on why an online digital currency is the monetary system of the future.

Peter has a large following of very savvy investors and this could make a big impact.


Dang premium content. Does anybody have a link to a free version?

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June 20, 2011, 11:54:41 PM
 #854

http://www.schiffradio.com/

Quote
Today's guest is Donald Norman, co-founder of Bitcoin Consultancy, on why an online digital currency is the monetary system of the future.

Peter has a large following of very savvy investors and this could make a big impact.


Dang premium content. Does anybody have a link to a free version?

It's streaming on a loop for free right now, or you can click on this link:

http://www.schiffradio.com/pg/jsp/charts/audioMaster.jsp?dispid=301&pid=52763&f=NTI3NjMtdHJ1ZS0wNi8yMC8yMDEx

Edit: just listened to the full interview and Peter still doesn't quite get it.  I've no doubt this will turn a lot of smart people on to Bitcoins though, and someday Peter will come around.
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June 21, 2011, 12:49:11 AM
 #855

Another Slashdot mention (with mostly doomsayers in the comment section):
http://it.slashdot.org/story/11/06/19/2125252/Bitcoin-Price-Crashes

BTW, please keep this section free of opinion pieces unless it's a few lines on a specific news link mentioned here.
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June 21, 2011, 01:00:38 AM
 #856

http://www.independent.co.uk/news/business/news/hack-attack-pushes-bitcoin-to-the-brink-2300384.html

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June 21, 2011, 01:11:21 AM
 #857

Technology Review
published by MIT

An Insecure Economy Built on a Super Secure Currency
An attacker distorted the value of a bitcoin on the biggest marketplace for the currency

http://www.technologyreview.com/blog/editors/26910/?ref=rss

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June 21, 2011, 01:24:04 AM
 #858


Edit: just listened to the full interview and Peter still doesn't quite get it.  I've no doubt this will turn a lot of smart people on to Bitcoins though, and someday Peter will come around.
Not only Peter Schiff didn't get it, Mike Malonely's  goldsilver.com doesn't get it either.

http://goldsilver.com/news/bitcoins-the-alternative-currency-joke-value-crashes-after-exchange-compromised-share/

"Value Crashes"? what crashes?

The original source wasn't overly negative, but I sense a lot of gloating from the website's editor.
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June 21, 2011, 01:27:18 AM
 #859

The schiffradio podcast has a download link under "Today's Show". It's 56k mp3 but for speech that's fine.

The CNBC video is pretty good, it's fairly balanced (most use/trading in UK, huh?) and sounded positive overall. The other CNBC piece has a gem too, Gavin saying: "the nature of dealing with money is that you will deal with thieves." - out of context it sounds kinda subversive too Smiley
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youtube.com/ericfontainejazz now accepts bitcoin


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June 21, 2011, 02:31:04 AM
 #860

Sorry to be the bearer of bad news, but this just came across my news feed today, June 20th, 2011.

https://www.eff.org/deeplinks/2011/06/eff-and-bitcoin

Quote
JUNE 20TH, 2011       
EFF and Bitcoin
Announcement by Cindy Cohn


For several months, EFF has been following the movement around Bitcoin, an electronic payment system that touts itself as "the first decentralized digital currency." We helped inform our members about this unique project through our blog and we experimented with accepting Bitcoin donations for several months in an account that was started by others.

However, we’ve recently removed the Bitcoin donation option from the Other Ways to Help page on the EFF website, and we have decided to not accept Bitcoins. We decided on this course of action for a few reasons:

1.   We don't fully understand the complex legal issues involved with creating a new currency system. Bitcoin raises untested legal concerns related to securities law, the Stamp Payments Act, tax evasion, consumer protection and money laundering, among others. And that’s just in the U.S. While EFF is often the defender of people ensnared in legal issues arising from new technologies, we try very hard to keep EFF from becoming the actual subject of those fights or issues. Since there is no caselaw on this topic, and the legal implications are still very unclear, we worry that our acceptance of Bitcoins may move us into the possible subject role.

2.   We don't want to mislead our donors. When people make a donation to a nonprofit like EFF, they expect us to use their donation to support our work. Because the legal territory around exchanging Bitcoins into cash is still uncertain, we are not comfortable spending the many Bitcoins we have accumulated. Because of this, we’re giving the Bitcoins that have been accumulated, or that may accumulate in the future, in the account set up in our name to the Bitcoin faucet, so that they can continue to circulate in the community.1

3.   People were misconstruing our acceptance of Bitcoins as an endorsement of Bitcoin. We were concerned that some people may have participated in the Bitcoin project specifically because EFF accepted Bitcoins, and perhaps they therefore believed the investment in Bitcoins was secure and risk-free. While we’ve been following the Bitcoin movement with a great degree of interest, EFF has never endorsed Bitcoin. In fact, we generally don’t endorse any type of product or service – and Bitcoin is no exception.

We appreciate the outpouring of support we have received from the Bitcoin community and we share that community's commitment to privacy and innovation. We also appreciate their frustration with the privacy problems posed by existing on-line payment systems. However, EFF will no longer be accepting or spending Bitcoins.

[1] We understand that we cannot close the account that has been set up in EFF’s name and that returning the donations to the individual donors would be complex and difficult.



I cross posted this post here: http://forum.bitcoin.org/index.php?topic=804.msg254600#msg254600

"We will not find a solution to political problems in cryptography, but we can win a major battle in the arms race and gain a new territory of freedom for several years.

Governments are good at cutting off the heads of a centrally controlled networks, but pure P2P networks are holding their own."
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