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Showing 20 of 25 results by karlmarxxx
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Topic
Board Speculation
Re: When will Bitcoin reach $1 again?
by
karlmarxxx
on 03/06/2014, 18:37:38 UTC
The answer is never because:

  • Network effect is too great, that is you can use them a lot more now than when it was at $1
  • User base is greater, like a mmo, myspace, or similar social network there is always going to be at least some users even if the limelight fades. Case in point, myspace and friendster still have millions of users, even though they are considered obsolete/out of favor
  • Too much investment has been made, there has been too much money and brain power investments to go back to the levels of $1
Post
Topic
Board Off-topic
Re: Thinking about naming my baby girl Bitcoin.. (due in 3 weeks)
by
karlmarxxx
on 07/01/2014, 18:04:47 UTC
Why not name her Bitsy?

A. its a real name for kids
B. still gets the point across
Post
Topic
Board Service Discussion
Re: Coinbase problems - Took my money and gave me no coins! 10 days and counting
by
karlmarxxx
on 17/12/2013, 01:33:25 UTC
AML/KYC regulations along with FINCEN guidence = companies doing this kinda stuff to protect themselves from being shutdown.
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Topic
Board Service Discussion
Re: Coinbase problems - Took my money and gave me no coins! 10 days and counting
by
karlmarxxx
on 17/12/2013, 01:27:48 UTC
Have you already purchased btc before? They place a 30 day hold for your first order, campbx used to/still does the same thing. If you don't like it I would suggest writing your congress people and telling them the regulations are too much.
Post
Topic
Board Speculation
Re: BitPay black friday numbers suck?
by
karlmarxxx
on 30/11/2013, 01:19:14 UTC
Bitpay twitter suggests record volume in transactions, so this thread should close...

BitPay ‏@bitpay 5h
We are seeing record #bitcoin transaction volume today.  #bitcoinblackfriday
Post
Topic
Board Bitcoin Discussion
Re: You don't have to buy a whole Bitcoin! You can buy partial!
by
karlmarxxx
on 18/11/2013, 18:38:55 UTC
I tell people that they should ignore the price of bitcoin and look at the investment as you would a stock or commodity. I don't look at gold and say, well it's not an OZ of gold so it's not worthwhile or look at appl and say well if I can't buy 100 shares it's not gonna happen. Just look at the value of the investment in dollars, besides its what most people can relate to anyway. It matters not how much you buy if it goes up another 3000%, your investment converted to dollars also goes up 3000%.
Post
Topic
Board Bitcoin Discussion
Re: How do you deal with transfer times during volatile days?
by
karlmarxxx
on 18/11/2013, 18:28:12 UTC
It takes about 20-30 min to transfer coins to an exchange. If it takes 24 hours try tipping the miners.
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Topic
Board Trading Discussion
Re: Stop-loss order service
by
karlmarxxx
on 15/11/2013, 06:00:37 UTC
bitfinex already does stoploss to bitstamp fyi
Post
Topic
Board Hardware wallets
Topic OP
Can Trezor Wallets be reused?
by
karlmarxxx
on 14/09/2013, 11:27:40 UTC
If I sell or buy a Trezor on Ebay or Bitmit that has been used, does it compromise the security of the private keys? I assume it could be vulnerable to dumping bytes from the 512KB flash and 128KB RAM.
Post
Topic
Board Bitcoin Discussion
Re: Has the NSA already broken bitcoin?
by
karlmarxxx
on 07/09/2013, 01:46:48 UTC
I think the problem here is that governments have backdoor access to your router, your computer OS, and to the encryption schemes used to encrypt your wallet. It would be much easier to get your wallet.dat using these holes and hack that than to hack sha-256. The problem is now bad people also know there is an NSA hole/backdoor and they will try to exploit it.
Post
Topic
Board Bitcoin Discussion
Re: Has the NSA already broken bitcoin?
by
karlmarxxx
on 07/09/2013, 01:28:55 UTC
I'm surprised no one has brought up the fact that there is encryption used on the wallet.dat and that may have a backdoor exploit, or a government could in theory steal your bitcoins while inspecting a laptop during travel if they have a backdoor to the encryption scheme.
Post
Topic
Board Hardware
Re: If they don't have Stocks Available " Please Don't Buy " "No More Pre Orders"
by
karlmarxxx
on 25/08/2013, 06:41:20 UTC
I would have no problems with pre-orders if they were like an iPhone preorder, as in a release date is posted, so there is a real deadline. That system I am ok with, what I am not ok with is using pre-orders as a vehicle for R&D. I think that future bitcoin miners should demand ownership in the company in return for the risk. This might allow for the miners to have voting rights to have some say in how the company manages the investments made to them and would allow an incompetent CEO to be replaced. Hopefully bitshares will solve that more easily, we shall see...

Either way no original asic company can say that the average customer made more money than just holding bitcoins or buying bitcoins on first day of orders. It's bad press for BTC when orders don't come for months and it makes it look scammy/ponzi/in need of regulation, which hurts the community as a whole.
Post
Topic
Board Bitcoin Discussion
Re: No transactions for about an hour now? What's happening?
by
karlmarxxx
on 20/08/2013, 07:18:53 UTC
I think blockchain.info is under attack, see the thread here https://bitcointalk.org/index.php?topic=278017.0
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Topic
Board Web Wallets
Re: Blockchain.info under attack?
by
karlmarxxx
on 20/08/2013, 07:10:16 UTC
Well I don't need to delete my keys so much as I just want to transfer to a new address and only leave 0.25 btc in there until they can overhaul.
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Topic
Board Web Wallets
Topic OP
Blockchain.info under attack?
by
karlmarxxx
on 20/08/2013, 07:01:30 UTC
Anyone else having issues using blockchain.info?
specifically I am getting "Error 500" w/ 2 cats and "Got error 157 'Unknown error code' from NDBCLUSTER"
Post
Topic
Board Bitcoin Discussion
Re: xPost from Reddit: Paypal to accept Bitcoin this month?
by
karlmarxxx
on 05/08/2013, 11:58:49 UTC
PP would just do what they do now, they would hold the bitcoins in escrow till the buyer on ebay left feedback or a timer expired. In the event that a refund was required they could just send the coins back to the buyer or in the event that the escrow was released they would just take it from your bank account/CC.
Post
Topic
Board Bitcoin Discussion
Re: Casascius' Physical Bitcoins Cracked at Defcon
by
karlmarxxx
on 05/08/2013, 02:18:18 UTC
I'm guessing this wont work so well with paper notes, as the solvent would ruin the QR code readability. Since the cascoin is brass it would not get soggy and allow ink to run.
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Topic
Board Bitcoin Discussion
Re: Bitbill Patent Published - Encompasses Physical Bitcoins and Paper Wallets
by
karlmarxxx
on 05/08/2013, 02:03:34 UTC
An update from the USPTO basically they have accepted the bitcointalk forum posts as prior art:

https://docs.google.com/file/d/0B7nOVGhPgqTEY2FIenFpdVlNRzg/
https://docs.google.com/file/d/0B7nOVGhPgqTEdnowcS1jZm02d1U/

you can view more from the USPTO here:
http://portal.uspto.gov/pair/PublicPair
Use application number: 13/336,779
Post
Topic
Board Bitcoin Discussion
Re: Bitbill Patent Published - Encompasses Physical Bitcoins and Paper Wallets
by
karlmarxxx
on 04/07/2013, 04:18:58 UTC
Why does anyone need a patent to create their own bills? It would seem to add unnecessary cost to something that you are producing and the free market will crush you for trying to make scarce.
One doesn't, one only gets a US patent to prevent someone else from making and selling a paper wallet in the United States. This will only alienate this company from people in the bitcoin community, it is a terribly expensive mistake.
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Topic
Board Bitcoin Discussion
Re: Bitbill Patent Published - Encompasses Physical Bitcoins and Paper Wallets
by
karlmarxxx
on 04/07/2013, 04:04:03 UTC
Overview of the patent system:

The patent covers an invention, and the patent applicant can get monopoly of the use of the invention for a limited time. He can then force others to not use the invention or license it, of his own choosing.
No. That is almost as bad as claiming that since there are police, there is no crime.

A patent doesn't do what you described here very well, that would give the law magical powers that it doesn't have.  Patents are routinely violated, they never result in monopoly.  What they do is provide an offensive legal weapon to point at those that attempt to do something like what you have patented.

Using a patent is an expensive proposition, and may not succeed, so you aren't going to enforce it unless the perp is rich.  Win or lose you have to pay.  Lose really badly and you have to pay for the other guy's legal costs too.  If you do ultimately win your patent defense case, you aren't done.  All you get is the court sending you to another case to figure out what the "reasonable license fee" is, and that's what you get.  If you win a good award, then you have to try to collect it.

Do you know how many patents get profitably violated?  All the good ones.
Firstly I agree, a patent doesn't stop anyone from doing anything. Just because you have a patent granted doesn't stop anyone from knowingly infringing upon your patent. Either way I think most of the discussion thus far is acting like the patent was granted. In fact it has just been published and will get the first office action rejection in a few months.

I'm not sure how deep the inventors pockets are but he is gonna have to spend hundreds of thousands of dollars in legal fees just arguing that there is anything patentable here. His claims will be worn down in scope and numbers as his lawyers have to pare down the original claims. I would fully expect at least 4 rounds of office action rejections before anything is even close to being approved.

Even then after approval I fully expect that any granted claims will be highly likely to be overturned. This is IMO a huge waste of money and time for these guys, they made mistake number 1, never trust your lawyers. Lawyers get payed to scare you into spending way more than needed, and often in patent law, will say you have a great shot at getting a patent. They are not technically lying to you, they might be able to get 1 or 2 of the claims through, though they probably wont be the ones you wanted nor have the coverage to enforce much of anything, if they can even withstand a re-examination.