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News: BIP91 seems stable: there's probably only slightly increased risk of confirmations disappearing. You should still prepare for Aug 1.
 
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Question: Will you support Gavin's new block size limit hard fork of 8MB by January 1, 2016 then doubling every 2 years?
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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1940592 times)
cypherdoc
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July 10, 2014, 08:39:52 PM
 #9361

Multi-sig + BIP32 + BIP70 + automated accounting systems would make embezzlement difficult and accountants obsolete.   

I'm not sure, but I think there might be some caveats with using BIP-32 in such a context. Say you give extended private keys (subtrees) to divisions of you company and say you also give the extended public root key to an accountant or auditor, I think the two could collude to derive all private keys.

I read this and it might've been FUD. Not sure. Would be happy if someone could clear that up.


you can securely hand out child private keys with no risk to the parent private key, and you can hand out master public keys with no risk to the master private key, you cannot do both at the same time.
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July 10, 2014, 08:41:32 PM
 #9362

Multi-sig + BIP32 + BIP70 + automated accounting systems would make embezzlement difficult and accountants obsolete.   

I'm not sure, but I think there might be some caveats with using BIP-32 in such a context. Say you give extended private keys (subtrees) to divisions of you company and say you also give the extended public root key to an accountant or auditor, I think the two could collude to derive all private keys.

I read this and it might've been FUD. Not sure. Would be happy if someone could clear that up.


https://github.com/bitcoin/bips/blob/master/bip-0032.mediawiki#Implications
cypherdoc
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July 10, 2014, 09:07:43 PM
 #9363

James Turk:

http://www.fx-mm.com/35745/news/trading-news/netagio-launches-first-british-bitcoin-gold-sterling-exchange/
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July 10, 2014, 09:59:04 PM
 #9364

whoops:

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July 10, 2014, 10:24:37 PM
 #9365

Hahaha
You might as well post ripple, ltc, dogecoin and all other crap exact BTC copies.  The reality is it's BTC vs everyone else.  Kinda like the dollar was after WWII.  All trade will go through BTC so NXT is really in competition with Alts not bitcoin and it's done pretty good so far there.
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July 10, 2014, 10:29:55 PM
 #9366

Hahaha
You might as well post ripple, ltc, dogecoin and all other crap exact BTC copies.  The reality is it's BTC vs everyone else.  Kinda like the dollar was after WWII.  All trade will go through BTC so NXT is really in competition with Alts not bitcoin and it's done pretty good so far there.

that's been my point all along but it doesn't hurt highlighting the individual pain.
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July 10, 2014, 10:35:25 PM
 #9367

"An Ad Campaign for Whistleblowers"

http://takingnote.blogs.nytimes.com/2014/07/09/an-ad-campaign-for-whistleblowers/?_php=true&_type=blogs&_r=0

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July 10, 2014, 10:45:41 PM
 #9368

"Are Uber and Lyft responsible for reducing DUIs?"

http://www.washingtonpost.com/blogs/wonkblog/wp/2014/07/10/are-uber-and-lyft-responsible-for-reducing-duis/

bitrider
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July 10, 2014, 10:47:50 PM
 #9369

Love this thread.

As posted above...

http://nakamotoinstitute.org/mempool/speculative-attack/

Seems to be just around the corner...and they are beginning to see...

http://www.coindesk.com/argentinian-money-regulator-mandates-reporting-bitcoin-activity/
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July 10, 2014, 10:58:56 PM
 #9370

Love this thread.

As posted above...

http://nakamotoinstitute.org/mempool/speculative-attack/

Seems to be just around the corner...and they are beginning to see...

http://www.coindesk.com/argentinian-money-regulator-mandates-reporting-bitcoin-activity/

yeah, that last article just adds fuel to the fire.  personally, i'm sick and tired of all these pathetic central banks banning Bitcoin b/c of the 4 horsemen of child  porn, drugs and cartels, ML, and terrorism.  

excuse me, but give me one example please Mr. Central Bankster.  yes, Shrem and Ulbricht do NOT count.

other than that, they are just preventing their citizens from engaging in free private tx.
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July 10, 2014, 10:59:36 PM
 #9371

I wonder where we will be in a year from now.  Roll Eyes

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bitrider
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July 10, 2014, 11:10:24 PM
 #9372

I wonder where we will be in a year from now.  Roll Eyes

I thought you of all people would at least have a prediction for us!   Grin Grin
cypherdoc
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July 10, 2014, 11:18:28 PM
 #9373

another billionaire joins Bitcoin.  isn't that 3 now?

http://bitcoinagile.com/1F1E8E/russian-jewish-billionaire-yuri-milner-loves-bitcoin
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July 11, 2014, 12:38:11 AM
 #9374

I wonder where we will be in a year from now.  Roll Eyes

I thought you of all people would at least have a prediction for us!   Grin Grin

Well I made mine know for this year. But next year....i'll make one when it is the right time.

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. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
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bitrider
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July 11, 2014, 01:34:30 AM
 #9375


other than that, they are just preventing their citizens from engaging in free private tx.

Yup. exactly.
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July 11, 2014, 01:40:01 AM
 #9376

I wonder where we will be in a year from now.  Roll Eyes

No one has a crystal ball. High price in bitcoin will invite more competition.
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July 11, 2014, 01:59:18 AM
 #9377

I wonder where we will be in a year from now.  Roll Eyes

No one has a crystal ball. High price in bitcoin will invite more competition.


Actually the competition is going on right now and the alts are losing. If bitcoin takes off to the upside alts are likely to die as everyone rushes to get on the Bitcoin train.
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July 11, 2014, 02:11:03 AM
 #9378

I wonder where we will be in a year from now.  Roll Eyes

No one has a crystal ball. High price in bitcoin will invite more competition.


Actually the competition is going on right now and the alts are losing. If bitcoin takes off to the upside alts are likely to die as everyone rushes to get on the Bitcoin train.

Well...not sure I agree they will "die" as in the way I would define it but price will fall yes.

Arbitrage will exist. As long as there is a price...people will trade it. You know me I'm a LTC supporter. I don't believe it is going away..but yes the price can go down.

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. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
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July 11, 2014, 02:24:06 AM
 #9379

Well...not sure I agree they will "die" as in the way I would define it but price will fall yes.

Arbitrage will exist. As long as there is a price...people will trade it. You know me I'm a LTC supporter. I don't believe it is going away..but yes the price can go down.
Do standalone BBSs still exist these days?

Probably, but who cares? Their existence and importance is negligible.

The network effect means the market will always seek a single unit of account. It takes massive external interventions to thwart this process. Altcoins don't have armies and police forces attacking anyone who doesn't use them, so they will go the way of the dial up BBSs (or else, Bitcoin will fuck up massively and one of the altcoins will take its place, with Bitcoin fading to oblivion).
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July 11, 2014, 02:48:51 AM
 #9380

Total alt market-cap has pretty much always varied between 5%-10% of bitcoin's market-cap. There's some niche, insurance, and experimentation value in the alt-space, so alt-cap shouldn't be zero....Bitcoin an order of magnitude more important than all of them combined sounds about right, as reflected in the prices.

That being the case, new alts tend to just dilute other alts, not bitcoin. It's getting tougher and tougher to be litecoin.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
But Bitcointalk & /r/bitcoin are heavily censored. bitco.in/forum, forum.bitcoin.com, and /r/btc are open.
Best info on Casascius coins: http://spotcoins.com/casascius
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