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Showing 20 of 93 results by aral
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Topic
Board Economics
Re: The Bitcoin economy needs about $100,000 a day of new money
by
aral
on 06/07/2011, 08:56:27 UTC
Stop caring about the current PRICE of BTC/USD and only view what you want BTC to look like in the future, then build for that.

Yeah we should do this.  But there's no point interacting with this 'Nagle' guy.  His aim is only to talk bitcoin down.  He wants it to fail.  It's pure FUD. 
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Topic
Board Bitcoin Discussion
Re: As Predicted
by
aral
on 05/07/2011, 18:28:08 UTC
You should stick it back in your ass where it belongs.
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Topic
Board Bitcoin Discussion
Re: At what price do you think Bitcoins will begin to rebound?
by
aral
on 05/07/2011, 17:08:15 UTC
Not sure if you have actually used the internet over the last 20 years, but usually when an idea comes along and it gets a decent following it isn't just copied, it's copied a LOT. It is inevitable that something Bitcoin inspired is going to come along.

Bitcoin is actually a pretty simple concept (although you don't appear to get it).  Its value is mostly not in the implementation of the idea but the community and the infrastructure surrounding it.  A new entrant can't just one day decide to unveil a shiny new decentralized currency.
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Topic
Board Bitcoin Discussion
Re: Everything looks fine on the logarithmic charts
by
aral
on 05/07/2011, 01:55:26 UTC
Doesn't look that "fine".  It's a deflationary currency so we should expect an upward trend and its clearly flatlined (slightly down even) for a while now.  Could argue Feb-Apr was similar, but I think we're seeing a downward trend right now.

Not really accurate, now is it? Bitcoin is deflationary in the long run, but at the moment there are thousands of new bitcoins mined every day... The current period in the bitcoin cycle is remarkably INFLATIONARY, and yet the currency manages to somewhat hold its value... Not bad, eh?

Not really.  The dollar is inflationary, but you don't see it declining over 10% in a single day.  All that stuff is already priced into the market.

yes really.  you call yourself an economist but you have no idea what inflation is.  no idea at all.
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Topic
Board Bitcoin Discussion
Re: Everything looks fine on the logarithmic charts
by
aral
on 04/07/2011, 23:43:05 UTC
Doesn't look that "fine".  It's a deflationary currency so we should expect an upward trend and its clearly flatlined (slightly down even) for a while now.  Could argue Feb-Apr was similar, but I think we're seeing a downward trend right now.

Hey 'economist' it's only deflationary in the long term.  Right now it's highly inflationary.  The supply of bitcoins is increasing as miners discover new blocks and the only reason it is holding its value at all is the expansion of the bitcoin economy. 
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Topic
Board Trading Discussion
Re: What Is Best Option For UK Investors To Buy Bitcoin
by
aral
on 04/07/2011, 16:25:46 UTC
I have no problem logging in, and there is quite a lot of trading going on right now so I guess other people don't have problems either.

I'd rather use britcoin than anything else tbh as genjix has been involved in britcoin for a while, seems to be committed to it and although the site is clearly 'beta', it is functional.  Also he is just down the road so if he stole my money I could turn up at his house with a bat...  but no, seriously I'd much rather use an exchange in the same legal jurisdiction as me.
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Topic
Board Bitcoin Discussion
Re: Have you held in your hands some actual euros and dollars as a result of mining?
by
aral
on 04/07/2011, 10:51:09 UTC
nakowa, HD 6990 is not the best card for mining
too expensive.  a cheaper 5xxx series will get you more Mhash for your $ AND use less power and run cooler
so you seem far from an 'expert' to me with your naive advice to buy expensive gear.


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Topic
Board Bitcoin Discussion
Re: PAYPAL SCAM ALERT, scammer is John Binns and paypal.
by
aral
on 03/07/2011, 12:33:45 UTC
ITT: greedy people getting scammed by other greedy people
I set an inflated price to see whether people were really that desperate to get hold of bitcoins legitimately or whether a scam was going on. It was more curiosity than greed.

Yes, you were curious to see whether you could rip some people off but you ended up getting worked over by someone else.  My little violin is playing hearts and flowers just for you!
Post
Topic
Board Speculation
Re: How I know that the Bitcoin boat has sailed
by
aral
on 03/07/2011, 11:27:32 UTC
The USD dropped considerably in value just in the last few days, that is probably reflected on MtGox's charts.

That should increase the value of bitcoin.
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Topic
Board Bitcoin Discussion
Re: Sending private keys instead of transactions
by
aral
on 30/06/2011, 14:29:10 UTC
"strange" transactions directly fed into the system.

...

I hope, if I have a bit of time and in a few weeks, I can be more specific.

OK, could be interesting.  But can you give an example of one of the strange transactions?
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Topic
Board Bitcoin Discussion
Re: Sending private keys instead of transactions
by
aral
on 30/06/2011, 09:54:44 UTC
Alice receives the BTC from teh exchange on address A1.  She transfers from A1 to A2, sends the private key to Bob who can then transfer from A2 to B1 and then, to the exchange through an address B2 that is tied to him.  So there is still a link between Alice and Bob. 

Alice sends the private key to Bob using Tor or i2p or whatever. Nobody sees this. If there are intermediaries (such as in my last posting) it gets just better. Think of it as a remixing cascade for bitcoins, if you wish.

If Alice uses the bitcoin client to send money to Bob, everyone sees it in blockexplorer.

If Bob creates a fresh address and Alice sends money to it, nobody is going to know it's Bob's address until he associates himself with it.  He could create it offline and it could never have been seen by the network.  You already can't get more anonymous than that and there is no need for Alice to know the PK. Whatever you do, though it can be made obscure, the transaction will be somehow linked to Alice through the exchange records. 

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Topic
Board Bitcoin Discussion
Re: Sending private keys instead of transactions
by
aral
on 29/06/2011, 22:07:42 UTC
I don't see any anonymity here.  Alice receives the BTC from teh exchange on address A1.  She transfers from A1 to A2, sends the private key to Bob who can then transfer from A2 to B1 and then, to the exchange through an address B2 that is tied to him.  So there is still a link between Alice and Bob. 


Post
Topic
Board Bitcoin Discussion
Re: How To Get Difficulty Down?
by
aral
on 29/06/2011, 17:17:08 UTC
What was the question again? How can you get more BTC per rig? How about a slightly modified rig?

The business plan goes as follows:
Set up TOR exit nodes for BTC. Everybody who wants to run his own TOR exit node but fears the trouble now can pay you to run it. The management is insanely simple from the user's perspective:
* Send coins to XY
* check at myTorNode.com/XY how much traffic it is handling

Many BTC early adopters like the TOR project and might pay coins easily.

I like this idea.  It has merit.
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Topic
Board Bitcoin Discussion
Re: Only Bitcoin accepted
by
aral
on 29/06/2011, 10:39:48 UTC
edit, let me ask, are you saying that transaction fees are not required if oyu want to cash out of BTC right after receiving a payment, and you wish to do this 100s of times a day?

I think you do.

Ah, I see you're talking about external fees, on exchanges and so on?  Yes, of course these are variable.  Currently I pay 0% on britcoin, but it's a bit inconvenient.

As bitcoin matures these external fees would be another incentive for merchants to use bitcoins to purchase supplies.
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Topic
Board Bitcoin Discussion
Re: Only Bitcoin accepted
by
aral
on 29/06/2011, 10:08:23 UTC
that's why i said it rules out micropayments

well, not by the conventional definitions of micropayments (under $20)

some people take micropayments to mean payments of a couple of cents, say to read single news articles.  it's not useful for that.  the transaction cost is too high.  but for small payments it does beat visa!
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Topic
Board Bitcoin Discussion
Re: Only Bitcoin accepted
by
aral
on 29/06/2011, 09:59:02 UTC

Maybe you should read through this thread to see what happens when someone tries to make a 'no transaction fee' client


eh?  there is only a compulsory fee on transactions of under 0.01 BTC there to prevent DoS attacks

otherwise there is no such restriction!

how many times must this be repeated?

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Topic
Board Bitcoin Discussion
Re: Bitcoin Bank
by
aral
on 28/06/2011, 21:08:24 UTC
finnthecelt

I posted this question in another thread (http://forum.bitcoin.org/index.php?topic=21615.0;all)

How will flexcoin use the Bitcoins? The FAQ does not give any information on this subject. What safeguards are there against flexcoin making bad investments and being unable to give deposits back?

None whatever.  Proceed with caution.

Do not proceed.  Do not give this guy $200.  Keep your bitcoins secure in your wallets, where they belong.
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Topic
Board Bitcoin Discussion
Re: So, bitcoin client still use unencrypted wallet.dat
by
aral
on 28/06/2011, 17:39:06 UTC
Sure, you can loose that too, but it's a practical solution that actually works. Your solution "just keep your computer safe and make plenty of (safe) backups" is simply not practical for 90% of the people out there, because securing your computer has a tremendous learning curve. Securing a piece of paper on the other hand is something people do pretty well, see paper money.
Most people don't keep long-term savings in the form of paper money precisely because paper can be easily lost, stolen, or damaged.

People keep important paper documents in a fireproof safe.  They don't keep paper money there because paper money depreciates while governments inflate the money supply.
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Topic
Board Bitcoin Discussion
Re: Bitcoin Bank
by
aral
on 28/06/2011, 17:07:05 UTC
Who are they? What do we know about them?

The domain is registered to this guy:

Wehbe, Roger  *********@yooter.com
      Yooter
      One South Second Street
      Pottsville, PA  17901
      US
      610-762-2156

His office appears to be located above Pottsville Parking Authority.
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Topic
Board Bitcoin Discussion
Re: Cracked Passwords List Leaked, were you cracked?
by
aral
on 28/06/2011, 16:52:19 UTC
The throwaway password I used on a throwaway mtgox account is not in the list. It was only 7 characters long with uppercase letters and numbers.

ditto

i had no money in it, never have had

i think it's weird though if they managed to make a list of active users.  what does that imply?