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Showing 20 of 83 results by johanatan
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Board Bitcoin Discussion
Re: Bitcoin by the stats
by
johanatan
on 05/08/2011, 06:20:55 UTC
Goxed : $10,350 plus surrounding problems (this figure is most likely on the low end, but i'll use it).  --- this wasn't stupid as well,  this was a mixture of growing pains (from hobby to real business) mixed with some serious hacking.

So, you count having a complete site database handed to you as 'serious hacking'?
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Board Bitcoin Discussion
Re: Flexcoin Invites
by
johanatan
on 30/07/2011, 09:28:58 UTC
I registered on Jun 27 yet it won't let me create an account with the email address I used.
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Topic
Board Bitcoin Discussion
Re: Illegal content in the blockchain
by
johanatan
on 23/07/2011, 20:08:38 UTC
How are you going to prove your own 'ignorance'?  Prove the non-existence of your knowledge.  Good luck with that.

Criminal justice: You're doing it wrong.

I don't recall criminal justice being one of my aims.
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Board Trading Discussion
Re: Question!
by
johanatan
on 21/07/2011, 08:45:59 UTC
Is it dangerous to use tradehill, mtgox, etc.....on tor?

is isn't dangerous on tor but i've heard that it can be a beast on acid.
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Board Trading Discussion
Re: automated day trading
by
johanatan
on 21/07/2011, 07:50:53 UTC
I've developed a bot for gox trading (hosted on google app engine) which I've been using with reasonable success so far (avg profit 1-3% per day).  I am considering opening it up to outside investors and want to get an idea of the demand for such a service.  I will most likely settle on taking a percentage of the profits that it generates (as opposed to alternate pricing schemes).

It is certainly not as profitable [longer term] as simply holding at this point but it does offer the advantage of capitalizing on the near-constant noise (and is thus a good avenue for diversification).  I will, of course, over time increase its efficiency and customizability but it is already reasonably efficient and customizable.

How would you provide investors details of earnings, and what would be your policies on deposits and withdrawals?

The plan was to merely make it a fund on GLBSE.  You can buy and sell shares of that fund just like BTC itself (or mutual funds or what have you).  All calculations would be done in USD and converted to BTC on payout.
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Board Trading Discussion
Re: automated day trading
by
johanatan
on 21/07/2011, 07:49:24 UTC
Quote
It is certainly not as profitable [longer term] as simply holding at this point but it does offer the advantage of capitalizing on the near-constant noise

The problem is here. Any trading strategy must be above buy-and-hold as a minimum criteria for consideration. And there are millions of strategies which are above buy-and-hold for only a very small amount of time (e.g. they all perform perfect on the backtesting data, but will make huge loss in a few days or weeks).

Though, there is one exception. Since the bitcoin market is just emerging, it may be inefficient and thus even simple algorithms would be profitable.

It's not a problem if you look at it as an investment of USD with a profit in USD.  Sure, it's not as profitable as simply buying and holding BTC when BTC explodes; but it is a first-order derivative and when the price of BTC is stable, it performs much better than BTC itself.  i.e., it's doing *very* well compared to BTC when the price of BTC holds at $15 for the last few weeks as it has.  deltaBTC = 0, deltaDerivative > 0.

You can also look at this as a less-risky investment than BTC itself (i.e., more diversified--akin to a mutual fund) since at any given point in time, your position is half USD/half BTC (on average).
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Board Bitcoin Discussion
Re: Illegal content in the blockchain
by
johanatan
on 21/07/2011, 07:43:32 UTC
you do know that you get convicted if some website loads some child porn in some invisible iframe without you knowing if the cops can find it in your browser cache? Or, to take it somewhere offline, that you get convicted if you buy something off ebay and when you try to register it to your name and it happens to come out that it was stolen.
You do know that in most jurisdictions, receiving stolen property requires the keyword: "knowingly"?

How are you going to prove your own 'ignorance'?  Prove the non-existence of your knowledge.  Good luck with that.

All it takes is some prosecutor who thinks he can convincingly prove that you did 'know' to cause a lot of trouble for you (even if you ultimately win).
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Board Bitcoin Discussion
Re: Mt. Gox Account Claim Rejected Twice? What next?
by
johanatan
on 21/07/2011, 07:21:09 UTC
The thing about "only weak password accounts have to be reclaimed" is impossible, as the passwords are stored as hashes. Therefore MtGox can't know if a password was weak or not. So actually everyone needs/needed to reclaim.

(not saying this is what is/should happen)

It's not quite impossible.  They can start with the assumption that all passwords are week, then when you submit your password for the first time, it can do the hash to see if is the right password, + also check the strength of the password at that time (since you just gave them the plain text password).

If it was a strong password they could unlock the account, if is was week, keep it locked and redirect the user to a claim site.

Also, one would think that a strong password would take the hackers longer to crack and thus there would likely only be one claimant for such accounts.  I highly doubt anyone was trying to claim my account simultaneous to me (esp. since it was a fairly small amount) yet Mt Gox still sent me through 4 weeks of hoops and tickets and so on.  Ridiculous!
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Board Bitcoin Discussion
Re: Thank you Mt Gox: My money is in limbo for a month now
by
johanatan
on 13/07/2011, 06:21:55 UTC
I am still waiting for access to one of my accounts too.  I got an email about a week ago (after 3-4 weeks of waiting) that said I had been granted access but when I actually went to login to it; still goxed.

Sent an email explaining the goxing (in fact two of them) yet I still haven't received a followup.

Finally got into mine today after sending a PM to MagicalTux!
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Topic
Board Development & Technical Discussion
Re: using Shannon's information to measure proof-of-work
by
johanatan
on 11/07/2011, 08:14:28 UTC
Satoshi's algorithm is much better.  If you switch away from weighting with the sum of difficulties, and go to the sum of log of difficulties, you introduce a new vulnerability into easily taking over the block chain.  That's because someone could make a very long chain of "difficulty 1" blocks and they could quickly be made to weigh more than blocks being created at the current difficulty n, because they are n times more difficult to create, but only weigh log n, which is a much smaller proportion of n as n increases.  All while difficulty 1 blocks will weigh the most in proportion to their actual creation difficulty.  So this idea is a bunch of nonsense, merely adds unwarranted complication at the expense of security.

+1.  This was pretty clear from the start of the thread.  The rest of the thread has just devolved into metaphysical blah-blah nonsense about time, entropy, the universe and everything.  Believe me, I do research in statistical mechanics for a living: I think of entropy long and hard every day.  The full contents of this thread is a hodgepodge of big words patched together with duct-tape.

Surely then you can take a few of the more prominent claims of this thread and debunk [or critique] them then instead of asking us to 'just trust you' TM?  Really, your post adds nothing to a scientific debate as it currently stands.
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Board Bitcoin Discussion
Re: Thank you Mt Gox: My money is in limbo for a month now
by
johanatan
on 11/07/2011, 07:58:01 UTC
I am still waiting for access to one of my accounts too.  I got an email about a week ago (after 3-4 weeks of waiting) that said I had been granted access but when I actually went to login to it; still goxed.

Sent an email explaining the goxing (in fact two of them) yet I still haven't received a followup.
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Board Development & Technical Discussion
Re: Securing contingent claims
by
johanatan
on 02/07/2011, 06:27:37 UTC
I think it might be helpful to explain how an electronic market selling bonds and contingent claims would work.
Just like in a regular market, pricing is determined by bids and asks of market participants.

Say the market is for bonds and contingent claims with 1 year maturity. Suppose the bitcoin software is setup to allow four kinds of contingent claims (in reality you would a wider range of possibilities).
The following are some hypothetical highest bids on the market:

Bids
Bond (all difficulty states): 0.975 BTC
Contingent Claim (diffculty <= 1000) : 0.01 BTC
Contingent Claim (100000>=difficulty > 1000) : 0.3 BTC
Contingent Claim (5000000>= difficulty>100000 ) : 0.68 BTC
Contingent Claim (difficulty>5000000 ) :  No existing bids

A bond seller arrives and declares a minimum asking price of 0.97 BTC, what determines the selling price of this bond? Is it broken up into contingent claims or sold in its entirety?

Algortithm compares two possible sales:
1) [divide the bond into contingent claims]
               a) Add up non-zero bids at the entire range of difficulty levels  (in this case 0.01+0.3+0.68=0.99)
               b) return revenue and any unsold contingent claims to the seller
                         (In this case the seller gets 0.99 BTC and a Contingent Claim for (difficulty>5000000 )
2) [sell the bond in one piece]
              a) sell the bond for the highest existing bid (in this case 0.975)
3) If (Revenue (2) > asking price) AND/OR (Revenue (1) >= asking price), then sell bond; otherwise no sale
     a) If Revenue (1) >= Revenue (2) [in this case it is, 0.99>0.975], then sell the bond through method (1)
     b) If Revenue (1) < Revenue (2), then sell the bond through method (2)           
               
In this case the seller earns more from selling the bond as contingent claims (0.99>0.975). Thus, the algorithm would match the seller to the contingent claims bids instead of to the bid for an entire bond.

Okay, so this is back into the realm of 'let the market sort it out'.  I thought you were trying to roll such things into the blockchain by use of some system of linear equations (which adjust prices per difficulty dynamically).  So you may have gotten rid of some inefficiency [or 'tax' as you put it] in the first order, but second, third and higher orders (or degrees) would still be traditional markets (with all their pricing inefficiencies)?
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Board Development & Technical Discussion
Re: Securing contingent claims
by
johanatan
on 01/07/2011, 19:06:37 UTC
The bitcoin vis bitcoin bond would not have a pegged exchange rate. You would just handle exchange using a system like bit-parking, the exchange rate is just a market price. I don't know what they will be worth either. The market has to figure it out.

Wouldn't the system of linear equations play a big role in regulating the exchange rate between these two (as well as other factors)?  And, do you have a hard design for these and their adjustment over time (they are the most critical component of this idea and it would be good to get those out there so we can do verification).

If you use a simple system in which you just mine for one type of block and the proportions of currencies/bonds in each block are constant, then you only need one difficulty. You can set this difficulty using the current algorithm. No modifications necessary. I could make a hard design which allows multiple mining choices and would need a new algorithm.  I don't think benefits associated with a new algorithm are sufficient to justify added complexity.

In that case, you have to make sure to set the proportions and the maturity dates appropriately.  It would be interesting to run some simulations and see if this is stable (i.e., reaches equilibrium).
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Board Bitcoin Technical Support
Re: BUG: Transaction in limbo (apparently)
by
johanatan
on 01/07/2011, 18:47:03 UTC
(By 'free', I mean those that have no transaction fee where one would normally be required, not including transactions using old coins that don't need a fee.)

So, when is a fee 'normally required' anyway?  And, how old must a coin be before it's considered old enough to not warrant one?

Also, when the number of confirmations changes from 0 to 1 does that mean that a peer picked up the transaction and relayed it?  Or that it actually found its way to a miner who accepted it and verified (i.e., confirmed) it?

Thanks!
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Board Development & Technical Discussion
Re: Securing contingent claims
by
johanatan
on 01/07/2011, 18:34:33 UTC
The bitcoin vis bitcoin bond would not have a pegged exchange rate. You would just handle exchange using a system like bit-parking, the exchange rate is just a market price. I don't know what they will be worth either. The market has to figure it out.

Wouldn't the system of linear equations play a big role in regulating the exchange rate between these two (as well as other factors)?  And, do you have a hard design for these and their adjustment over time (they are the most critical component of this idea and it would be good to get those out there so we can do verification).
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Board Trading Discussion
Re: LOG: Trading-volume Ratio of top Exchanges
by
johanatan
on 01/07/2011, 18:10:56 UTC
MtGox 72%
Tradehill 18%
Bitcoin7 10%[/color]

This is encouraging.
Not really. Look at the volumes.

I don't particularly care if they are all low.  Bitcoin has still not yet even made a blip on the radar of 99+% of the population out there.
I just care that it's more evenly distributed between the exchanges (i.e., TH and B7 market share is increasing).
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Board Bitcoin Discussion
Re: Mt. Gox Account Claim Rejected Twice? What next?
by
johanatan
on 01/07/2011, 17:58:28 UTC
I am having the same issue.  I have sent: IP address, dwolla account number and approximate account balance.  Not to mention that several of my other accounts have been approved

Why would anyone want to have several accounts? Is that to circumwent the daily withdrawal limits? If so, that might be the case why it's rejected.

MagicalTux (owner of mtGox) is also available on freenode irc network in channel #mtgox.

I asume it does not help much to post here, you should get in touch with mtGox and check what's the reason the claim has been rejected.

I have multiple accounts so that my bots can have different strategies.  And I have sent several messages to MtGox (all of which are being ignored).
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Board Bitcoin Discussion
Re: Mt. Gox Account Claim Rejected Twice? What next?
by
johanatan
on 01/07/2011, 17:57:47 UTC
The thing about "only weak password accounts have to be reclaimed" is impossible, as the passwords are stored as hashes. Therefore MtGox can't know if a password was weak or not. So actually everyone needs/needed to reclaim.

I think it had to do with the likelihood that other people (the hackers) would be attempting to reclaim.  If only one person attempted to reclaim a given account, then it is safe to assume that the password was strong and that the one person is not 'the hackers' (trademark).

I also fairly certain that no one else is even attempting to reclaim my account.
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Board Trading Discussion
Re: LOG: Trading-volume Ratio of top Exchanges
by
johanatan
on 01/07/2011, 06:48:01 UTC
MtGox 72%
Tradehill 18%
Bitcoin7 10%[/color]

This is encouraging.
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Topic
Board Bitcoin Discussion
Re: Mt. Gox Account Claim Rejected Twice? What next?
by
johanatan
on 01/07/2011, 06:47:14 UTC
I shouldn't have had to claim, as the website said that people with a suficiently complex password would get their accounts back automatically.
But even a password like:     7L8(l^qDx*(_fSG!3n     apparently isn't complex enough.

So I had to reclaim, which I did.
Then the claim was approved but 1 day later my new password was invalidated and I got noo more responses to my requests!

Same thing here.  Not quite sure if I was ever approved or not (as I had several accounts all being juggled) but I think I was.
And, my password was strong as well.