BITCON... WHY its totally FLAWED

Apologies in advance if I'm repeating previous discussions (the Bitcoin threads are getting quite large), but I've numerous references to one of the attractions of Bitcoin being its "anonymity".

The closest to a real discussion on here that I've found was Bullion Baron's questions way back on Page 18. I stumbled across this interview with Bitcoin Watch founder Jeff Garzin that discusses the issue including getting the US Govt etc on board.

[youtube]http://www.youtube.com/watch?v=zhj1zeisqWY[/youtube]

Key part starts at about 2:45.
 
191.00 and climbing...totally insane rise. I'm still quite ambivalent about Bitcoin's place in the world. It's all a bit 'wild west'.
 
The few alt currencies I am in all look bad at the moment because their remaining the same or dropping in their BTC pairs. Realistically, they're all just rising the same kind of percentages.
 
RetardedMonkey said:
The few alt currencies I am in all look bad at the moment because their remaining the same or dropping in their BTC pairs. Realistically, they're all just rising the same kind of percentages.
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??

litecoin still seems to be doing well?
 
willrocks said:
aleks said:
gcsun said:
http://www.ebay.com.au/itm/REAL-BIT...65?pt=Coins_US_Individual&hash=item3a8015aaad

Bitcoin in paper form, great idea!

Anyone know how we can transfer bitcoins to something like this? So much more secure...
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bitaddress.org

Then click paper wallet tab, set how many you want then print...
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There's one problem with online 'paper' wallet generators. If the website gets compromised a hacker could easily capture private keys.
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Bitaddress.org let you save the page as a file that runs offline. You can then go offline: turn the internet off, boot from a live Linux cd and run the page from there to generate your private keys, plug the printer and print. I believe this approach is secure.

Or are you saying that a hacker could compromise the generation of the address in itself?!
 
willrocks said:
Phiber said:
willrocks said:
There's one problem with online 'paper' wallet generators. If the website gets compromised a hacker could easily capture private keys.
Click to expand...

Bitaddress.org let you save the page as a file that runs offline. You can then go offline: turn the internet off, boot from a live Linux cd and run the page from there to generate your private keys, plug the printer and print. I believe this approach is secure.

Or are you saying that a hacker could compromise the generation of the address in itself?!
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Well even if you did save the page the hacker could have inserted their own javascript. That script could still send keys back to the server, or elsewhere.

If the computer was taken off-line the hacker could have tweaked the page to output keys and addresses he already knows.

So, no it's not a 100% safe method, even off-line.
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Thanks for the reply mate, appreciated.
It supposes the script would have to be hacked already, correct?

If the bit address.org script was presently hacked, there is a good chance the community would have found out? Or not maybe?

If the script is not hacked at present, one could save a copy that would be kept offline and only use this copy to generate addresses.

Do you reckon Armory is superior in this regard?
 
Interesting chart for those that are into this sort of thing;

http://blockchain.info/charts/n-transactions-excluding-popular

This is a graph of transactions (excluding the top 100 wallet addresses), I feel it shows more of a representation of the bitcoin market being used a currency, rather than for trading or playing Satoshidice. Notice the price spike this year coinciding with the price increase...to me this indicates a lot of what is being bought is being used as a trading currency.

I also have been informed some ABC News program that played during prime time hours on TV last night had a story on BTC as its first of the night. That to me, means we are entering the mainstream media phase of the bubble, and the "classic bubble chart" shows the media stage as just before the parabolic rise.

I feel we are in for a real wild upwards ride, even from $190 - planning an exit is the key, as I think this is going to be histories biggests bubble ever in regards to percentage gains!
 
lol according to coinotron (top right hand corner of home page) is now more profitable to mine bitcoin than ppcoin
 
rbaggio said:
lol according to coinotron (top right hand corner of home page) is now more profitable to mine bitcoin than ppcoin
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Yeah, PPC is acting weird IMO.

Difficulty is going up, price is going down.

That's why I haven't stopped mining LTC - still the most profitable.
 
RetardedMonkey said:
That's why I haven't stopped mining LTC - still the most profitable.
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I'm not sure if you pay any attention to the BTC-E trollbox, but you don't see much ramping of PPC, and you see a whole lot of people bagging it.

It's definately not hot at all on it's main exchange.

Not having a cap seems to be a real issue with people, it's not different to the USD in that respect. :lol:
 
He's straight up wrong.

You don't just 'trade' Bitcoin. They can be used to purchase more and more things every day. I can buy hosting with them, how is that not putting a value on it?
 
I'm in the process of buying some physical silver bullion with Bitcoin!

"Bitcoin - it works for me" :-)
 
Anyone selling.. LOL no thought not.. i think even those that had bitcoin last year didnt take it too seriously in terms of mass impact.. (if you did you are a millionaire)?

The Rate of aquiring BTC is so slow the virtual botteneck of investors rushing to acquire it is make it one of the safest investments around not to mention one of the highest yeilding in history.

Buying LTC is almost impossible to purchase, Mining youll get 2 a day on your average rig lol.. ones anyguess how much that is going to increase in price.

1for1
 
RetardedMonkey said:
He's straight up wrong.

You don't just 'trade' Bitcoin. They can be used to purchase more and more things every day. I can buy hosting with them, how is that not putting a value on it?
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Exactly, he lost my view at 1m.43s after he said the only thing another person can do with them is sell them to someone else - riduculous!

I've spent about 1000 BTC on goods in total, it worked as a currency perfectly.
 
RetardedMonkey said:
He's straight up wrong.

You don't just 'trade' Bitcoin. They can be used to purchase more and more things every day. I can buy hosting with them, how is that not putting a value on it?
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Wrong and terribly presented. You have to show some passion, people!

Good luck to all of the digital currency miners on here btw, this stuff gets more interesting every day but I need to finish wrapping my grey matter around basic economics an PMs before I dive in to BC though I might dip a toe or three one day :)
 
1for1 said:
not to mention one of the highest yeilding in history.

Buying LTC is almost impossible to purchase, Mining youll get 2 a day on your average rig lol.. ones anyguess how much that is going to increase in price.
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I spent a good portion of today trying to find something that has ever risen by more than BTC percentage wise (using the figures of roughly 0.6c to $190 US), it's not easy!

Buying LTC isn't very hard at all, you just need to buy BTC first to convert.

LTC won't really take off until it starts being accepted as a currency more widely, so far it has minimal takeup as BTC is still in an infancy / trust stage. There isn't room for a competiting cryptocurrency for the exchange of goods and services until BTC becomes more established IMO.
 
I'm not a fan of Chris Duane, but here is more food for thought (no its not his "BitCoin Ponzi Scheme" video)...

[youtube]http://www.youtube.com/watch?v=7fvSYT7vhQY[/youtube]
 
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