Author Topic: Does anyone here use Bitcoins? (Read 854,854 times)

40hz · « **Reply #275 on:** August 14, 2013, 01:14 PM »

Quote from: mouser on August 14, 2013, 01:41 AM

i've merged several recent bitcoin threads as i think they were starting to clutter up the living room.
i think we would be better off keeping all bitcoin discussion on one or two threads.

+1. One thread.

It will be a non-issue in about a year anyway. Either it will become another regulated financial instrument - or it will be out of business.

Cyber-anarcho rhetoric aside, most of the people behind Bitcoin have already conceded it's now time they started working out an accommodation with the financial mainstream instead of holding out as some sort of rebellion against it.

So are they "selling out" or merely "buying in" in order to render unto Ceasar?

I guess that all depends on what your original expectations for Bitcoin were.

mahesh2k · « **Reply #276 on:** August 14, 2013, 01:43 PM »

I have started using the bitcoin for domain registration. Namecheap accepts domain registration fee in the form of bitcoins. I earn bitcoins from coinchat.org and from another mining pool client (using it on office machine). Not a bad way to earn If you ask me. I would double my efforts if i get any local exchanger for bitcoins.

Tinman57 · « **Reply #277 on:** August 15, 2013, 12:40 AM »

The only reason I started another Bitcoin thread was because the original one was old and the forum software said to start a new one.....

And just as I said yesterday, they're after the taxes....

Quote

US Senate committee takes a hard look at virtual currencies like Bitcoin

08.13.2013 2:50 PM

A prominent U.S. Senate committee has launched a formal inquiry to investigate criminal activity and other risks tied to the use of virtual currencies such as Bitcoins. It's the first congressional inquiry into virtual currencies at a broad scale.

http://www.pcworld.com/article/2046586/us-senate-committee-takes-a-hard-look-at-virtual-currencies-like-bitcoin.html

Renegade · « **Reply #278 on:** August 20, 2013, 11:08 AM »

Go on... gloat. Haterz gonna hate.

http://www.telegraph.co.uk/finance/currency/10210022/Bitcoins-banned-in-Thailand.html

40hz · « **Reply #279 on:** August 20, 2013, 02:25 PM »

Quote from: Renegade on August 20, 2013, 11:08 AM

Go on... gloat. Haterz gonna hate.

http://www.telegraph.co.uk/finance/currency/10210022/Bitcoins-banned-in-Thailand.html

No need to hate. I'm sure our governments already LOVE the possibilities presented by Bitcoin. And they'll be behind it 100% once they take over the idea and run with it themselves...

The really sad part is that, although Bitcoin will either submit to regulation or be hounded out of existence, the concept behind it (at least the protocol/security and 'wallet' part) will probably be incorporated into official government e-currencies sooner or later. I'm guessing sooner. Figure 5 years max. The public - thanks to Bitcoin's advocates - has already shown they're open to this type of currency. And businesses and securities exchanges are already champing at the bit (no pun intended) to get a crack at it.

Right now it looks very much like this experiment in anarcho-economics will be co-opted. And in Bitcoin's case, it will provide (as a side benefit) even greater levels of monetary surveillance than are possible with our current e-currency systems.

Be careful what you wish for.

Renegade · « **Reply #280 on:** August 31, 2013, 10:36 AM »

Quote from: 40hz on August 20, 2013, 02:25 PM

Be careful what you wish for.

Still wishing for it to go higher and higher!

(That ain't gonna change!)

($138 or so at the moment.)

1) SQ1.TV

But, there's a new Kickstarter thingamajig for a Bitcoin TV show or somethingishily like that.

http://www.kickstarter.com/projects/sq1/the-bitcoin-phenomenon-on-sq1tv

https://www.sq1.tv/

Will be interesting to see how that turns out.

2) Havelock Investments

Just for anyone that does use bitcoin, Havelock Investments has a range of stocks you can buy & sell, but ONLY in BTC.

http://havelockinvestments.com/

Here's an example of one of their stocks:

http://havelockinvestments.com/fund.php?symbol=VTX

It's kind of fun(d) to play around with it.

I've played around with some, and it is kind of funky fun buying & selling in BTC and weighing that against BTC/fiat. Just some fun mental math. I'll skip any commentary on any of the funds or that though. Just mentioning it in case anyone else is using bitcoins and interested in a bit of fun there.

Edvard · « **Reply #281 on:** August 31, 2013, 04:02 PM »

Relevant: http://freecoin.ch/

Renegade · « **Reply #282 on:** September 04, 2013, 06:51 AM »

There's a new bitcoin-qt client available that fixes a bug:

https://bitcointalk.org/index.php?topic=287351.0;topicseen

Quote

Bitcoin-Qt version 0.8.4 is now available from:
http://sourceforge.net/projects/bitcoin/files/Bitcoin/bitcoin-0.8.4/

This is a maintenance release to fix a critical bug and three
security issues; we urge all users to upgrade.

More at the link.

mahesh2k · « **Reply #283 on:** September 04, 2013, 01:10 PM »

If anyone wants to make bitcoins by chatting with others, then they should checkout coinchat.org

It is IRC chat channel that pays for the chatting (payout in bitcoins via inputs.io system).

Renegade · « **Reply #284 on:** September 04, 2013, 03:23 PM »

Quote from: mahesh2k on September 04, 2013, 01:10 PM

If anyone wants to make bitcoins by chatting with others, then they should checkout coinchat.org

It is IRC chat channel that pays for the chatting (payout in bitcoins via inputs.io system).

Kinda sounds like "paid to surf".

For the link I had above for Havelock, you can pretty much guarantee yourself a decent return if you buy on an IPO and sell IMMEDIATELY afterwards. Buy. Let it spike a bit. Sell. I just screwed up as I missed an email on another IPO. Meh... Oh well.

The nice thing is that anyone can participate as it's all in BTC, so there are no restrictions for anyone, unlike in other markets. (Further commentary forgone to keep this relatively clean here.)

For anyone wanting to do some design work/contest, you could win 2 BTC here:

http://www.dealco.in/havelock

Quote

Win 2 Bitcoins!

Design the new look of our website and you could win 2 BTC. For more info, email us contest[at]dealco.in

Could be fun for someone with decent design skills.

Arizona Hot · « **Reply #285 on:** September 08, 2013, 04:20 AM »

[attach=#]

Tracing Bitcoins May be Easier Than Criminals Think MIT Technology Review

Takes some of the shine off bitcoins doesn't it?

Renegade · « **Reply #286 on:** September 08, 2013, 06:38 AM »

Quote from: Arizona Hot on September 08, 2013, 04:20 AM

(see attachment in previous post)
Tracing Bitcoins May be Easier Than Criminals Think MIT Technology Review

Takes some of the shine off bitcoins doesn't it?

Hit piece drivel title designed to scare people. Pfft. Big surprise.

Quote

“The Bitcoin protocol still has huge potential for anonymity,” says Sarah Meiklejohn, who led the research project, “but the way that people are using it is not achieving anonymity at all.”

People who need anonymity can do their own homework to figure it out. Bitcoin is pseudononymous. It is not designed for strong anonymity. Creating confusion like this is disingenuous. But, big surprise seeing more of it.

Here's a similar complaint...

My car does really well at driving through puddles, but dammit... it just isn't a submarine. Be careful people! Your car may not be a submarine! $:-\$

Arizona Hot · « **Reply #287 on:** September 10, 2013, 08:39 PM »

Another article for the bitcoin fans.

[attach=#]

Let's Cut Through the Bitcoin Hype A Hacker-Entrepreneur's Take

Renegade · « **Reply #288 on:** September 11, 2013, 01:05 PM »

Quote from: Arizona Hot on September 10, 2013, 08:39 PM

Another article for the bitcoin fans.
(see attachment in previous post)
Let's Cut Through the Bitcoin Hype A Hacker-Entrepreneur's Take

That was SPECTACULARLY middle of the road! A very nice read!

I did like this little bit:

Quote

Nothing made by humans is ever free of politics or even error.

Not even math...

And this:

Quote

Fighting over what’s “fiat” and what’s “real” is silly. It’s all fiat. Gold isn’t conscious; all value is belief. What’s fiat is who can change the supply and how. Nobody can just declare the existence of one million new bitcoin and start trading on it. It doesn’t matter how much we do or don’t trust the U.S. Federal Reserve, the system knows how many bitcoin exist at what time, and knows where they all are, globally.

Different currencies have different strengths and weaknesses. e.g. Bitcoin can NEVER replace a roll of quarters.

40hz · « **Reply #289 on:** September 11, 2013, 01:54 PM »

^Correct! They can't replace a roll of quarters. Their bid price is far too high to be useful for making small purchases. And you can't break somebody's jaw with a Bitcoin, whereas a good solid punch delivered while holding a roll of quarters certainly can.

More seriously, the really curious thing (to me) about Bitcoin is that it keeps being put forward as a currency while most Bitcoin owners I speak to seem to be primarily interested in hoarding them as an investment.

Currency as currency is useless unless it circulates freely. Bitcoins seem more like Kuggerrands or Canadian Maple Leaf gold coins or those triple-struck mint coins various governments sell to collectors. You could spend them. But hardly anybody ever does.

Renegade · « **Reply #290 on:** September 11, 2013, 01:57 PM »

^ I actually do spend and use BTC. But I make sure to keep the vast majority of it.

Havelock is fun. Check one of my posts above.

40hz · « **Reply #291 on:** September 11, 2013, 01:59 PM »

@Ren- I check all your posts I'll have you know.

Renegade · « **Reply #292 on:** September 21, 2013, 04:24 PM »

Here's an interesting article on Bitcoin:

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2294124

Quote

Abstract:

This paper will discuss and evaluation the design features of Bitcoin in relation to the libertarian and metallist philosophies that have shaped the cryptocurrency. Bitcoin has failed to be perfectly decentralized or particularly anonymous. Furthermore, its hyperdeflationary design features have made Bitcoin a currency dependent on outside, more stable currencies (e.g., the U.S. dollar), which serve as units of account. Finally, despite the view of money taken by its creators, this supposedly stateless currency is far from apolitical in nature. Although its creators tend to espouse apolitical accounts of money, Bitcoin has been from the beginning a political project -- an evolving, distributed constitutional project, with many goals, visions, and factions. Furthermore, depending on the shape of these political goals, Bitcoin advocates may or may not have a vested interest in creating mechanisms to stabilize the currency and make it a viable unit of account.

You may need to click the download button 2x.

Renegade · « **Reply #293 on:** September 21, 2013, 04:26 PM »

And an interesting Forbes article on buying marijuana:

http://www.forbes.com/sites/andygreenberg/2013/08/14/heres-what-its-like-to-buy-drugs-on-three-anonymous-online-black-markets/

Renegade · « **Reply #294 on:** September 30, 2013, 04:52 PM »

http://www.everydaymoney.ca/2013/09/homeless-survive-using-bitcoins.html

Just

But not the first part. The first part is all

The RCM part is just

Quote

What has been dubbed as "mint chip" is exciting since it's being undertaken by the government

Exciting?

Arizona Hot · « **Reply #295 on:** October 04, 2013, 08:05 PM »

[attach=#]

Drugs, Bitcoins and a Canadian blackmailer How the FBI tracked down the Silk Road suspect

tomos · « **Reply #296 on:** October 04, 2013, 08:27 PM »

Quote from: Arizona Hot on October 04, 2013, 08:05 PM

(see attachment in previous post)
Drugs, Bitcoins and a Canadian blackmailer How the FBI tracked down the Silk Road suspect

cross-reference for discussion:
Silk Road Seized - Dread Pirate Roberts Arrested

Renegade · « **Reply #297 on:** October 08, 2013, 10:02 PM »

Looks like more people believe in bitcoins than don't:

http://www.zdnet.com/debate/bitcoins-the-future-of-money/10128933/

75% from what I see there.

Quote

Bitcoins: The future of money?
Moderated by Andrew Nusca | October 7, 2013 -- 07:00 GMT (18:00 AEST)

Summary: The FBI's shutdown of Silk Road rekindles discussion about the prospects for that site's preferred currency.

Renegade · « **Reply #298 on:** October 09, 2013, 05:40 PM »

Want to see a credit card company soil itself?

https://insights.mastercard.com/2013/10/07/why-would-you-want-to-be-anonymous-or-bitcoin-and-the-great-silk-road-bust/

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Why Would You Want to Be Anonymous? Or, Bitcoin and the Great Silk Road Bust
Theodore Iacobuzio | October 7, 2013

It’s a fair question. Now that Silk Road has been busted (the details are ultra gamey) is there any reason for Bitcoin, the anonymous online currency backed by nothing but its users (i.e., not by any state), to continue in existence? After all, the only other reason to hold it is for fun, speculation, and… anonymity. The first two do not promise great volume. Is the last always sinister?

That depends, it seems to Global Insights, on how important your personal information is to you. Just this week we went public with our own look at these issues in The Digital Sharing and Trust Project. One important segment, Proactive Protectors, is very concerned with actively guarding their online identity. And while they are by our estimate 17 percent of the global market, 17 percent of the global market is a lot. Seventeen percent of anything is a lot. Enough to keep Bitcoin going, one would think.

As I say, we’re about to find out.

They're scared. Very scared.

A payment system that lets you pay anyone, anywhere, near instantly, and basically for free.

Mastercard, Visa, etc. - their days are numbered as their business model is a thing of the past.

wraith808 · « **Reply #299 on:** October 09, 2013, 07:23 PM »

This seems to ignore the primary function of MC and Visa... to bankroll those people who like to live outside of their means. Bitcoins does nothing for that use.