Bitcoin Forum
December 04, 2016, 02:29:30 PM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Poll
Question: Will you support Gavin's new block size limit hard fork of 8MB by January 1, 2016 then doubling every 2 years?
1.  yes
2.  no

Pages: « 1 ... 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 [152] 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 ... 1560 »
  Print  
Author Topic: Gold collapsing. Bitcoin UP.  (Read 1804198 times)
miscreanity
Legendary
*
Offline Offline

Activity: 1078


View Profile
August 29, 2012, 03:48:03 AM
 #3021


I knew I should've changed my name Wink
1480861770
Hero Member
*
Offline Offline

Posts: 1480861770

View Profile Personal Message (Offline)

Ignore
1480861770
Reply with quote  #2

1480861770
Report to moderator
1480861770
Hero Member
*
Offline Offline

Posts: 1480861770

View Profile Personal Message (Offline)

Ignore
1480861770
Reply with quote  #2

1480861770
Report to moderator
The network tries to produce one block per 10 minutes. It does this by automatically adjusting how difficult it is to produce blocks.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480861770
Hero Member
*
Offline Offline

Posts: 1480861770

View Profile Personal Message (Offline)

Ignore
1480861770
Reply with quote  #2

1480861770
Report to moderator
1480861770
Hero Member
*
Offline Offline

Posts: 1480861770

View Profile Personal Message (Offline)

Ignore
1480861770
Reply with quote  #2

1480861770
Report to moderator
molecular
Donator
Legendary
*
Online Online

Activity: 2128



View Profile
August 29, 2012, 07:31:29 AM
 #3022

silver is consolidating to break $32.

even if... cypherdoc still wins by a long shot

Wins what? Huh

true, gold didn't collapse. I should've said: "bitcoin still wins by a long shot". sorry 'bout that, miscreanity.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
labestiol
Sr. Member
****
Offline Offline

Activity: 434


View Profile
August 29, 2012, 10:26:27 AM
 #3023

how many Bitcoin wallets have you heard of being hacked?  private ones, not those on servers like Bitcoinica.  allinvains wallet doesn't count either as it was an open mining wallet hooked up to a pool server.

Stuxnet, as i understand, was incredibly sophisticated developed by the US gov't and required an infiltrator that installed the virus on the Iranian computer probably with a usb stick.  that won't happen to me anytime soon.

About Stuxnet, I don't think it required an infiltrator, it required a human mistake (in this case an infected usb stick plugged in a computer). If it was indeed an infiltrator, why infect so many computers around the world ?

About btc, I agree, the risk is quite low presently, but so is bitcoin valuation. The higher valuation goes, the higher the risk.

How sure are you that any interaction with your btc-only, never connected to the Internet laptop is secure ? For the case of usb stick, you cannot trust entirely the results of an av scan. When av companies discovered stuxnet, it was already in the wild for at least a year as far as i know.

I agree this all sounds paranoid, but that's an important quality to have in computer security.

Anyway I'm just saying that it's part of the risk inherent with btc, and that it shouldn't be underestimated.

1BestioLC7YBVh8Q5LfH6RYURD6MrpP8y6
ElectricMucus
Legendary
*
Offline Offline

Activity: 1540


Drama Junkie


View Profile
August 29, 2012, 01:59:41 PM
 #3024

Cypher at what point will you change the topic to: Gold UP. Bitcoin UP.
?
1900?
2000?
 Grin

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
August 29, 2012, 02:03:19 PM
 #3025

silver is consolidating to break $32.

even if... cypherdoc still wins by a long shot

Wins what? Huh

true, gold didn't collapse. I should've said: "bitcoin still wins by a long shot". sorry 'bout that, miscreanity.

no. you had it right the first time with regards to my specific situation. i consider it a huge win.

i sold gold at avg price of $1600, sold silver at avg price of $44, and bought Bitcoin at avg price of $6.50.  i find it interesting how my avg price is near tvbcof and despite our differences here in the past on gold and silver appear to have invested into Bitcoin at similar points in time (on the way up and on the way down and most importantly at the bottom).  this has been a spectacular trade for me personally according to the timing of my switch.

i also think, in general, w/o any specific time points that its fair to say that Bitcoin has outperformed gold/silver by a long shot since its inception.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
August 29, 2012, 02:07:23 PM
 #3026

Cypher at what point will you change the topic to: Gold UP. Bitcoin UP.
?
1900?
2000?
 Grin

b/c of the problems with a starting point in all these discussions, silverbox and i informally agreed to the beginning of this thread as a starting point.  thus:  Gold down, Bitcoin UP.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
August 29, 2012, 02:19:39 PM
 #3027

how many Bitcoin wallets have you heard of being hacked?  private ones, not those on servers like Bitcoinica.  allinvains wallet doesn't count either as it was an open mining wallet hooked up to a pool server.

Stuxnet, as i understand, was incredibly sophisticated developed by the US gov't and required an infiltrator that installed the virus on the Iranian computer probably with a usb stick.  that won't happen to me anytime soon.

About Stuxnet, I don't think it required an infiltrator, it required a human mistake (in this case an infected usb stick plugged in a computer). If it was indeed an infiltrator, why infect so many computers around the world ?

About btc, I agree, the risk is quite low presently, but so is bitcoin valuation. The higher valuation goes, the higher the risk.

How sure are you that any interaction with your btc-only, never connected to the Internet laptop is secure ? For the case of usb stick, you cannot trust entirely the results of an av scan. When av companies discovered stuxnet, it was already in the wild for at least a year as far as i know.

I agree this all sounds paranoid, but that's an important quality to have in computer security.

Anyway I'm just saying that it's part of the risk inherent with btc, and that it shouldn't be underestimated.

ok, if you want to quibble about the definition of infiltration; someone infiltrated the usb stick.  but i appreciate all your comments and paranoia.  never hurts to be suspicious and on guard.

the good thing about having been a so called early adopter (if last Feb 2011 can even be considered that) is that there were more security discussions going on back then.  i've always been very paranoid with my wallets ever since and have never trusted or gotten involved with any online wallet or bank/exchange scheme. from the beginning i created a live session cd offline wallet and refused to touch it since.  there were some great discussions about usb stick vulnerabilities as well with regards to autorun malware.  any usb stick i might use to access that wallet will never have been exposed to an infiltrator.  i also have other means of connecting to the internet via VM's, etc.  one of the later benefits of using Armory is focusing on how these offline wallets work and what the objectives are to minimize exposure to a hacker.  i think it would be pretty hard to get malware onto my usb stick.

you still didn't give me any examples of private wallet hacking that have been verified as legit.  i haven't heard of any except for the server based ones and allinvain.  and i'm sure its been tried ad nauseum.  how high does the value of Bitcoin have to go for this increased hacking activity that you're calling for to kick into high gear?  seems like it would have been worth it at many points here along the way.
labestiol
Sr. Member
****
Offline Offline

Activity: 434


View Profile
August 29, 2012, 02:46:59 PM
 #3028

ok, if you want to quibble about the definition of infiltration; someone infiltrated the usb stick.  but i appreciate all your comments and paranoia.  never hurts to be suspicious and on guard.

the good thing about having been a so called early adopter (if last Feb 2011 can even be considered that) is that there were more security discussions going on back then.  i've always been very paranoid with my wallets ever since and have never trusted or gotten involved with any online wallet or bank/exchange scheme. from the beginning i created a live session cd offline wallet and refused to touch it since.  there were some great discussions about usb stick vulnerabilities as well with regards to autorun malware.  any usb stick i might use to access that wallet will never have been exposed to an infiltrator.  i also have other means of connecting to the internet via VM's, etc.  one of the later benefits of using Armory is focusing on how these offline wallets work and what the objectives are to minimize exposure to a hacker.  i think it would be pretty hard to get malware onto my usb stick.

you still didn't give me any examples of private wallet hacking that have been verified as legit.  i haven't heard of any except for the server based ones and allinvain.  and i'm sure its been tried ad nauseum.  how high does the value of Bitcoin have to go for this increased hacking activity that you're calling for to kick into high gear?  seems like it would have been worth it at many points here along the way.

That's a question you should ask hackers  Cheesy But there is for sure a number for which it's true.
I agree that it's not really a problem right now (and iirc some where not convinced that the allinvain case was legit). It has for sure been tried already (there was a trojan a few months ago which purpose was to steal wallet.dat files, before encryption was coded in the satoshi client), but I'm not convinced the people who tried were trying really hard, or were the most competent.

I do think that the method you're using right now is the best one available, and that is what matters. Being among the most protected minority is the best solution, even if it's not perfect (nothing is).
And I'm sure there will be even better methods in the future, like specialized hardware.

1BestioLC7YBVh8Q5LfH6RYURD6MrpP8y6
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
August 29, 2012, 03:37:58 PM
 #3029

ok, if you want to quibble about the definition of infiltration; someone infiltrated the usb stick.  but i appreciate all your comments and paranoia.  never hurts to be suspicious and on guard.

the good thing about having been a so called early adopter (if last Feb 2011 can even be considered that) is that there were more security discussions going on back then.  i've always been very paranoid with my wallets ever since and have never trusted or gotten involved with any online wallet or bank/exchange scheme. from the beginning i created a live session cd offline wallet and refused to touch it since.  there were some great discussions about usb stick vulnerabilities as well with regards to autorun malware.  any usb stick i might use to access that wallet will never have been exposed to an infiltrator.  i also have other means of connecting to the internet via VM's, etc.  one of the later benefits of using Armory is focusing on how these offline wallets work and what the objectives are to minimize exposure to a hacker.  i think it would be pretty hard to get malware onto my usb stick.

you still didn't give me any examples of private wallet hacking that have been verified as legit.  i haven't heard of any except for the server based ones and allinvain.  and i'm sure its been tried ad nauseum.  how high does the value of Bitcoin have to go for this increased hacking activity that you're calling for to kick into high gear?  seems like it would have been worth it at many points here along the way.

That's a question you should ask hackers  Cheesy But there is for sure a number for which it's true.
I agree that it's not really a problem right now (and iirc some where not convinced that the allinvain case was legit). It has for sure been tried already (there was a trojan a few months ago which purpose was to steal wallet.dat files, before encryption was coded in the satoshi client), but I'm not convinced the people who tried were trying really hard, or were the most competent.

I do think that the method you're using right now is the best one available, and that is what matters. Being among the most protected minority is the best solution, even if it's not perfect (nothing is).
And I'm sure there will be even better methods in the future, like specialized hardware.

i was actually quite involved in those accusations against allinvain.  iirc, he claimed he'd been hacked like 8h before for around 3.xx BTC while on slush's pool and yet he didn't do anything after that to secure his wallet or move the rest of his coins?  he sounded more like an attention getter than anything to me.
tvbcof
Legendary
*
Offline Offline

Activity: 1974


View Profile
August 29, 2012, 05:55:26 PM
 #3030

...
i sold gold at avg price of $1600, sold silver at avg price of $44, and bought Bitcoin at avg price of $6.50.  i find it interesting how my avg price is near tvbcof and despite our differences here in the past on gold and silver appear to have invested into Bitcoin at similar points in time (on the way up and on the way down and most importantly at the bottom). ...


I always wondered what your cost basis was just on an academic level, so thanks for that.  In my case I only started buying on the way down.  I got a few bad-ish purchases in maybe near $20 on that PayPal site before I figured things out and started sending wires to Tradehill which made me really start at $16.  At that point I was just shooting for 100 BTC.  As the prices dropped it was amazing to me how many BTC one could get given where I started.  As I had extra fiat to burn I choose BTC vs. phyzzz for a fair percentage of it until the price started up from $2-ish which lends support to the contention that I saw it as having the potential to outperform PM's by a wide margin.  I always did feel that those $2-$3/BTC times were a very welcome second chance to 'get in early'.

I believe I can honestly say that all of my blathering in all of my posts have been done with a certain level of honesty and I never tried to convince anyone else of something I didn't believe myself.  I toyed with a thought of trying to invest in efforts to suck in Joe Sixpack since it would enrich me personally, but never got around to actually doing much along these lines and never really was comfortable that it was really the right thing to do...yet, with so many people getting burnt.

I honestly believe that there is a real chance that we may be approaching a time when for 99.99% of people, investment decisions will not just be for shits-n-giggles but will be extremely important and possibly life-n-death issues for some.  I continue to believe that actual physical PM's are something that everyone should have under their mattress and Bitcoin is something for knowlegable and careful people to dip their feet in since it is so neat and so potentially world changing.  And since it could make them extremely wealthy.  Bitcoin does not need to maximize the user-base to succeed at this point...and in fact doing so at this point could be a factor in causing it to fail in my opinion.


calian
Sr. Member
****
Offline Offline

Activity: 354



View Profile
August 30, 2012, 05:26:24 AM
 #3031

...
i sold gold at avg price of $1600, sold silver at avg price of $44, and bought Bitcoin at avg price of $6.50.  i find it interesting how my avg price is near tvbcof and despite our differences here in the past on gold and silver appear to have invested into Bitcoin at similar points in time (on the way up and on the way down and most importantly at the bottom). ...


I always wondered what your cost basis was just on an academic level, so thanks for that.  In my case I only started buying on the way down.  I got a few bad-ish purchases in maybe near $20 on that PayPal site before I figured things out and started sending wires to Tradehill which made me really start at $16.  At that point I was just shooting for 100 BTC.  As the prices dropped it was amazing to me how many BTC one could get given where I started.  As I had extra fiat to burn I choose BTC vs. phyzzz for a fair percentage of it until the price started up from $2-ish which lends support to the contention that I saw it as having the potential to outperform PM's by a wide margin.  I always did feel that those $2-$3/BTC times were a very welcome second chance to 'get in early'.

While I think a lot of us were waiting for a $1 second chance, in hindsight I'm just happy to be in the black. Especially considering I bought my first coins for $19 and $27 (you know which week that was).
HorseRider
Donator
Legendary
*
Offline Offline

Activity: 1582


View Profile
August 30, 2012, 07:15:10 AM
 #3032



i sold gold at avg price of $1600, sold silver at avg price of $44, and bought Bitcoin at avg price of $6.50.  

I thought that you bought bitcoin at avg price of $1. once you tried to buy 10k bitcoin around the price of $1. maybe you buy too much when it's 20 or 30?

16SvwJtQET7mkHZFFbJpgPaDA1Pxtmbm5P
LightRider
Legendary
*
Offline Offline

Activity: 1488


I advocate the Zeitgeist Movement & Venus Project.


View Profile WWW
August 30, 2012, 07:31:20 AM
 #3033

Request thread name changed to "Health of Global Society UP, Human Reliance on False Authority DOWN".

Bitcoin combines money, the wrongest thing in the world, with software, the easiest thing in the world to get wrong.
Visit www.thevenusproject.com and www.theZeitgeistMovement.com.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
August 30, 2012, 02:28:11 PM
 #3034



i sold gold at avg price of $1600, sold silver at avg price of $44, and bought Bitcoin at avg price of $6.50.  

I thought that you bought bitcoin at avg price of $1. once you tried to buy 10k bitcoin around the price of $1. maybe you buy too much when it's 20 or 30?

never said i bought at avg price of $1.  you may be confused with me saying i started buying @ $1.60.   yes, i knifecaught some on the way down from $32.   no shame in admitting that it dropped way more than i thought would so yes i bought some in the teens.   what matters now is i'm way in the black.  never sold a coin.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
August 30, 2012, 02:42:50 PM
 #3035

gold and silver folding like a cheap suit.
bitcool
Legendary
*
Offline Offline

Activity: 1441

Live and enjoy experiments


View Profile
August 30, 2012, 03:19:51 PM
 #3036

gold and silver folding like a cheap suit. Grin
What kind of folding are you talking about? two-fold or three fold ?  Grin
miscreanity
Legendary
*
Offline Offline

Activity: 1078


View Profile
August 30, 2012, 03:48:47 PM
 #3037

gold and silver folding like a cheap suit.

Roll Eyes
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
August 30, 2012, 04:00:42 PM
 #3038

gold and silver folding like a cheap suit.

Roll Eyes

yeah, that's about the level of response i'd expect from someone who's got a knot in his stomach.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
August 30, 2012, 04:29:34 PM
 #3039

Update:

A series of nasty ass charts.
labestiol
Sr. Member
****
Offline Offline

Activity: 434


View Profile
August 30, 2012, 04:57:38 PM
 #3040

Again, not that important of a drop. This week correction represent about 30% of last week rally.
Important point might be that the upper resistance of the downtrend starting last year might become a support (~1650$ today). Sure, too early to say if it'll hold, but it clearly was the support today.

1BestioLC7YBVh8Q5LfH6RYURD6MrpP8y6
Pages: « 1 ... 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 [152] 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 ... 1560 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!