malevolent
can into space
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Activity: 3472
Merit: 1724
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November 12, 2013, 09:29:52 PM |
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... if you don't have the private key you don't have any Bitcoins (ask the users of Input.io, Bitcoinica, bitfloor, instawallet, etc, etc, etc).
Slight nitpick. You can have the private key and still not have any bitcoins (when someone else has the private key as well, then it becomes a race to transfer the coins). That's why I say: If you are not the sole controller of your private keys, you do not have any bitcoins. Slight nitpic.  You can have bitcoins despite not being the sole controller of your private keys (e.g. certain scenarios involving multi-sig addresses, like 2-of-3 addresses, where it's not necessary to know the other party's private key, and keeping one's own two private keys secret is enough to be safe and to be the only person that can spend coins from that address). |
Signature space available for rent.
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moderate
Member
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Activity: 98
Merit: 10
nearly dead
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November 12, 2013, 09:31:33 PM |
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Is that people enjoy getting scammed.
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Mike Christ
aka snapsunny
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Activity: 1078
Merit: 1003
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November 12, 2013, 09:35:38 PM |
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 WHAT I LEARNED ABOUT BITCOIN IS... |
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jeppe
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November 12, 2013, 09:49:24 PM |
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Buy low and sell high  and then invest some of the revenue to long term |
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HeliKopterBen
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November 12, 2013, 09:50:27 PM |
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Why I should be paranoid about internet security.
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Counterfeit: made in imitation of something else with intent to deceive: merriam-webster
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The 4ner
aka newbitcoinqtuser
Hero Member
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Activity: 602
Merit: 500
R.I.P Silk Road 1.0
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November 12, 2013, 10:35:26 PM |
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Don't trust anybody!  |
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Lauda
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Terminated.
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November 12, 2013, 10:43:16 PM |
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WHAT I LEARNED ABOUT BITCOIN IS... that I haven't learned anything. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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moderate
Member
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Merit: 10
nearly dead
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November 12, 2013, 10:49:55 PM |
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Is that people will dump their coins into any site that they find pretty.
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malevolent
can into space
Legendary
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Activity: 3472
Merit: 1724
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November 12, 2013, 10:51:40 PM |
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... if you don't have the private key you don't have any Bitcoins (ask the users of Input.io, Bitcoinica, bitfloor, instawallet, etc, etc, etc).
Slight nitpick. You can have the private key and still not have any bitcoins (when someone else has the private key as well, then it becomes a race to transfer the coins). That's why I say: If you are not the sole controller of your private keys, you do not have any bitcoins. Slight nitpic. You can have bitcoins despite not being the sole controller of your private keys (e.g. certain scenarios involving multi-sig addresses, like 2-of-3 addresses, where it's not necessary to know the other party's private key, and keeping one's own two private keys secret is enough to be safe and to be the only person that can spend coins from that address). Hmm... I'm not very knowledgeable when it comes to multi-sig. If you need 2-of-3 to access the coins, and you alone have 2, you can access the coins and you are the sole controller of the keys required to access the coins. If someone else also has the 2 required to access the coins, you are not the sole controller, and it becomes a race (even if intentional) to transfer the coins. If two people are required to access the coins, each having 1 for a 2-of-3 address, you are not the sole controller, and you alone do not have any bitcoins, you have shared access to some coins. If the other person dies without sharing their key with you, you have nothing. I stand by what I said. I think you are just making the key more complex, which ultimately changes nothing. Either you alone have access, or you alone do not. What am I missing? Initially you wrote: "If you are not the sole controller of your private keys, you do not have any bitcoins." which was a response to "having the private key". What I meant is that it is possible be safe despite not having all of the private keys (having 2 keys out of 3 of a 2-of-3 address). Likewise it is possible to not to have the bitcoins despite being the sole controller of (one) private key (in the case of a 2-of-3 address and someone else having the two other keys). I think it's more about wording/semantics. |
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irpirate
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November 12, 2013, 10:53:23 PM |
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...is not to eat yellow snow. The second is not to use an on-line bitcoin wallet |
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Lauda
Legendary
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Activity: 2674
Merit: 2965
Terminated.
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November 12, 2013, 11:21:31 PM |
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...is not to eat yellow snow. The second is not to use an on-line bitcoin wallet not to use inputs.io That doesn't mean that all online wallets will/can be hacked. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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moderate
Member
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November 12, 2013, 11:24:16 PM |
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...is not to eat yellow snow. The second is not to use an on-line bitcoin wallet not to use inputs.io That doesn't mean that all online wallets will/can be hacked. Do you still believe inputs.io was hacked ? |
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Lauda
Legendary
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Activity: 2674
Merit: 2965
Terminated.
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November 12, 2013, 11:26:53 PM |
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Do you still believe inputs.io was hacked ?
I'm giving TF a chance. Anything is possible. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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Lauda
Legendary
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Merit: 2965
Terminated.
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November 13, 2013, 05:02:36 AM |
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Hacking does pay.  |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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DeathAndTaxes
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Merit: 1079
Gerald Davis
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November 13, 2013, 05:20:51 AM |
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Hacking does pay. Sometimes "hacking" pays even more. |
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Lauda
Legendary
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Activity: 2674
Merit: 2965
Terminated.
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November 13, 2013, 05:26:16 AM |
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Hacking does pay. Sometimes "hacking" pays even more. Much more for that fact. There were more "hacks" than hacks here. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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SuperHakka
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November 17, 2013, 03:13:44 PM |
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... how to be philisophical about life :-D when I could have bet the farm when it was 5$ but didn't got I got distracted  |
'First they ignore you. Then they laugh at you. Then they attack you. Then you win.' - Mohandas Gandhi
"Whenever I'm about to do something, I think, 'Would an idiot do this?' and if he would, I do not do that thing." - Dwight Schrute
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farfiman
Legendary
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Activity: 1449
Merit: 1001
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November 17, 2013, 03:23:24 PM |
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Never trust a pirate.
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"We are just fools. We insanely believe that we can replace one politician with another and something will really change. The ONLY possible way to achieve change is to change the very system of how government functions. Until we are prepared to do that, suck it up for your future belongs to the madness and corruption of politicians."
Martin Armstrong
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elux
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Merit: 1006
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November 17, 2013, 03:29:38 PM |
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Sometimes "hacking" pays even more.
How very true. As a rule of thumb:
Whenever a sufficiently anonymous service is entrusted with bitcoins without sufficient collateral,
and the amount thus entrusted is large compared to the profitability of the service,
that service will cease to exist when the ratio of coins coming in to the coins going out turns negative.
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N12
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Merit: 1010
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November 17, 2013, 03:43:41 PM |
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You can actually make money in financial markets without having insider information.
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