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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1979928 times)
Erdogan
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February 20, 2015, 10:51:06 PM
 #21421

The current public image of bitcoin:

The ISIS angle
The money laundering angle
The trust us, we can break anything on the net angle
The illegal trade angle
The regulation angle
The danger dealing with strangers angle


This is just the MSM revving up their engine. They still don't know what is going to hit them, but they sense it is something dangerous.

Anyway, don't lose faith, this is only growing pains for bitcoin. The internet had it, computer cryptography had it, the video cassette had it, even the postcard had it.


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February 20, 2015, 11:24:08 PM
 #21422

molecular:

can the Trezor ppl see our balances and tx's while the Trezor is logged into myTrezor.com?

yes, unfortunately. At least they're not using your xpub key to transfer addresses to watch, so they don't know your future keys (except the 5 or so per account they scan ahead).

That's my biggest criticism with myTrezor and it's why I switched to electrum as soon as the development code had trezor working. It's not perfect with electrum, either, but better (I don't know exactly what, but they do some stuff to increase privacy towards server operators).

I went to the hassle of running my own electrum server (public, of course, so I can hide in the masses when broadcasting transactions). Feel free to use it (electrum.0x0000.de), I'm not logging anything or looking at the traffic in any way.


How could they overlook such an obvious privacy violation when designing the wallet?   It should be a local client that broadcasts tx's out  to the network.
molecular
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February 20, 2015, 11:37:47 PM
 #21423

molecular:

can the Trezor ppl see our balances and tx's while the Trezor is logged into myTrezor.com?

yes, unfortunately. At least they're not using your xpub key to transfer addresses to watch, so they don't know your future keys (except the 5 or so per account they scan ahead).

That's my biggest criticism with myTrezor and it's why I switched to electrum as soon as the development code had trezor working. It's not perfect with electrum, either, but better (I don't know exactly what, but they do some stuff to increase privacy towards server operators).

I went to the hassle of running my own electrum server (public, of course, so I can hide in the masses when broadcasting transactions). Feel free to use it (electrum.0x0000.de), I'm not logging anything or looking at the traffic in any way.


How could they overlook such an obvious privacy violation when designing the wallet?   It should be a local client that broadcasts tx's out  to the network.

The broadcast isn't the only privacy problem inherent to the client/server thin wallet design, watching for incoming money another one.

They didn't overlook it, they accepted it for lack of a good solution.

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Erdogan
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February 21, 2015, 12:00:14 AM
 #21424

molecular:

can the Trezor ppl see our balances and tx's while the Trezor is logged into myTrezor.com?

yes, unfortunately. At least they're not using your xpub key to transfer addresses to watch, so they don't know your future keys (except the 5 or so per account they scan ahead).

That's my biggest criticism with myTrezor and it's why I switched to electrum as soon as the development code had trezor working. It's not perfect with electrum, either, but better (I don't know exactly what, but they do some stuff to increase privacy towards server operators).

I went to the hassle of running my own electrum server (public, of course, so I can hide in the masses when broadcasting transactions). Feel free to use it (electrum.0x0000.de), I'm not logging anything or looking at the traffic in any way.



How could they overlook such an obvious privacy violation when designing the wallet?   It should be a local client that broadcasts tx's out  to the network.

The broadcast isn't the only privacy problem inherent to the client/server thin wallet design, watching for incoming money another one.

They didn't overlook it, they accepted it for lack of a good solution.

It seems the trezor compatibility has been slower than expected for most wallets. I look forward to Armory/Trezor compatibility. It seems they have to change their HD wallet to the standard BIP32 wallet first, which is probably more work/risk than implementing the trezor support. In Armory, it would resemble the existing off line signing, the change is just to use USB communication in stead of the current file based communication. EDIT: Maybe more, not an expert.



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February 21, 2015, 12:03:24 AM
 #21425

molecular:

can the Trezor ppl see our balances and tx's while the Trezor is logged into myTrezor.com?

yes, unfortunately. At least they're not using your xpub key to transfer addresses to watch, so they don't know your future keys (except the 5 or so per account they scan ahead).

That's my biggest criticism with myTrezor and it's why I switched to electrum as soon as the development code had trezor working. It's not perfect with electrum, either, but better (I don't know exactly what, but they do some stuff to increase privacy towards server operators).

I went to the hassle of running my own electrum server (public, of course, so I can hide in the masses when broadcasting transactions). Feel free to use it (electrum.0x0000.de), I'm not logging anything or looking at the traffic in any way.


How could they overlook such an obvious privacy violation when designing the wallet?   It should be a local client that broadcasts tx's out  to the network.

The broadcast isn't the only privacy problem inherent to the client/server thin wallet design, watching for incoming money another one.

They didn't overlook it, they accepted it for lack of a good solution.

I have no problem with running a full node with s local client to maintain privac.  That should've been an option.
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February 21, 2015, 02:52:10 AM
 #21426

And gold will collapse even more now that scientists have been able to produce gold by using bacteria.  bitcoin is far more relevant and useful as a currency.  Gold is still valuable but if the bacteria method of gold production is industrialized then gold prices will stabilize greatly...it won't be as volatile and shouldn't really be as costly.

BTC: 16vaBbHP6yqG5sc93ubXTY4icQhCScKWah
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February 21, 2015, 05:24:38 AM
 #21427

And gold will collapse even more now that scientists have been able to produce gold by using bacteria.  bitcoin is far more relevant and useful as a currency.  Gold is still valuable but if the bacteria method of gold production is industrialized then gold prices will stabilize greatly...it won't be as volatile and shouldn't really be as costly.

Depends on the efficiency of the bacteria patent enforcer.
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February 21, 2015, 09:04:56 AM
 #21428

if the bacteria method of gold production is industrialized then gold prices will stabilize greatly...it won't be as volatile and shouldn't really be as costly.

Volatility will increase when uncertainty is introduced.

The current volatility of the price of gold is man-made, it serves the interests of the money-masters. And: it's not the price of gold that is measured; gold is the yardstick to measure the value of everything else, especially the CB/fiat/financial assets. It's not about the value of a yellow metal, since the metal has little to no value, it's about the fact of having a "way to call the bluff of the financial system", and that we have not only with gold, but in Bitcoin as well now.

 If the stocks:flows ratio becomes uncertain with the technological advances, we will have natural market volatility on top of the manipulation.
molecular
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February 21, 2015, 05:36:49 PM
 #21429

molecular:

can the Trezor ppl see our balances and tx's while the Trezor is logged into myTrezor.com?

yes, unfortunately. At least they're not using your xpub key to transfer addresses to watch, so they don't know your future keys (except the 5 or so per account they scan ahead).

That's my biggest criticism with myTrezor and it's why I switched to electrum as soon as the development code had trezor working. It's not perfect with electrum, either, but better (I don't know exactly what, but they do some stuff to increase privacy towards server operators).

I went to the hassle of running my own electrum server (public, of course, so I can hide in the masses when broadcasting transactions). Feel free to use it (electrum.0x0000.de), I'm not logging anything or looking at the traffic in any way.


How could they overlook such an obvious privacy violation when designing the wallet?   It should be a local client that broadcasts tx's out  to the network.

The broadcast isn't the only privacy problem inherent to the client/server thin wallet design, watching for incoming money another one.

They didn't overlook it, they accepted it for lack of a good solution.

I have no problem with running a full node with s local client to maintain privac.  That should've been an option.

Satoshilabs is not in the business of making wallet software. They just made myTrezor site as a preliminary solution until wallet devs implemented trezor support.

I think maybe you want trezor support in bitcoin-qt (or bitcoin core or what it's called)?

You could rather easily use "bitcoind + local electrum server + electrum"

Also: maybe multibit might be a solution? Not sure how far the trezor support is, though.

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molecular
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February 21, 2015, 05:45:06 PM
 #21430

And gold will collapse even more now that scientists have been able to produce gold by using bacteria.  bitcoin is far more relevant and useful as a currency.  Gold is still valuable but if the bacteria method of gold production is industrialized then gold prices will stabilize greatly...it won't be as volatile and shouldn't really be as costly.

Depends on the efficiency of the bacteria patent enforcer.

Good thing we have crypto. Otherwise (with our human greed), we'd probably turn the whole planet into gold in the long run.

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rocks
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February 21, 2015, 10:03:45 PM
 #21431

And gold will collapse even more now that scientists have been able to produce gold by using bacteria.  bitcoin is far more relevant and useful as a currency.  Gold is still valuable but if the bacteria method of gold production is industrialized then gold prices will stabilize greatly...it won't be as volatile and shouldn't really be as costly.

Depends on the efficiency of the bacteria patent enforcer.

Good thing we have crypto. Otherwise (with our human greed), we'd probably turn the whole planet into gold in the long run.

Bacteria can not produce gold, you need a nuclear reaction to do that.

They found a bacteria that can live in gold chlroride, and does so by extracting the gold content into solid micro nuggets. This is simply another method to mine gold, but the ledger of gold atoms is still intact. Gold chlroride BTW is both rare and expensive.

Now if anyone ever found a method to profitably extract gold from ocean water....
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9.9.2012: I predict that single digits... <- FAIL


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February 21, 2015, 10:39:35 PM
 #21432

My favourite client, Armory, will also support Trezor in the future.
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February 22, 2015, 01:16:06 AM
 #21433

Gary Shilling says oil is going to $10

http://uk.businessinsider.com/gary-shilling-oil-is-going-to-10-2015-2?r=US
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February 22, 2015, 01:25:31 AM
 #21434

My favourite client, Armory, will also support Trezor in the future.

how would that work?  Trezor replace the offline signing wallet?
cypherdoc
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February 22, 2015, 01:26:13 AM
 #21435


that "shill" has made a bundle off appreciating UST's since 1980.  calculate that one out.
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February 22, 2015, 01:49:33 AM
 #21436

My favourite client, Armory, will also support Trezor in the future.

how would that work?  Trezor replace the offline signing wallet?

I guess so. I don't know the details, but both etotheipi and goatpig have confirmed that they will implement Trezor in Armory.
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February 22, 2015, 02:21:36 AM
 #21437

My favourite client, Armory, will also support Trezor in the future.

how would that work?  Trezor replace the offline signing wallet?

I guess so. I don't know the details, but both etotheipi and goatpig have confirmed that they will implement Trezor in Armory.

whatever it takes to get myTrezor.com or any other centralized server out of the loop.
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February 22, 2015, 01:14:01 PM
 #21438

Quote
And now that Greece has suffered its harshest hangover in years following several short weeks of hope that this time it may be finally different, it is time to repeat the farce from the beginning as yet another party will soon appeal to the Greek people with even greater and even more unrealistic promises, declaring that unlike Samaras, pardon, Tsipras, this time they will really show Germany who's boss.
http://www.zerohedge.com/news/2015-02-21/what-ordinary-greeks-think-fridays-deal-we-went-through-two-months-agony-realize-we-

rinse & repeat Cheesy
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February 22, 2015, 01:34:56 PM
 #21439

meanwhile, gold was pushed again down to the $1200 line. Seems like $1180 is back in the cards. Slip there will pretty much set the gold market for the first half of 2015.
Oil was waiting for a dead cat bounce, we got it, so now 30 handle may be in the cards. But not for very long. I don't think the US economy can kill their best profitable sector in the last two years without a fight.

this space is intentionally left blank
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February 22, 2015, 01:52:45 PM
 #21440

bitcoin has a controlled amount , there could be a million kg of gold undiscovered.
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