10 votes

'Bitcoin is getting stronger, and is not going away'

TechCrunch: What’s Not Being Said About Bitcoin

Mt.Gox is gone. The one-time biggest Bitcoin exchange closed its doors this week and filed for bankruptcy this morning. Questions about the future of Bitcoin have once again been up-leveled to the headlines of nearly every major media outlet.

Over the past few weeks, we’ve seen a string of issues in the Bitcoin space, from the transaction malleability bug that ultimately closed Mt.Gox’s doors to a corresponding distributed denial of service (DDoS) attack that delayed transfers on multiple exchanges and services. These attacks, along with recent phishing scams and money-laundering arrests, have cast doubt on the Bitcoin space and caused consumer panic — which is fair.

But what hasn’t been communicated well is how those who are truly invested in the future of Bitcoin remain totally confident, because with every attack, breach, and arrest, Bitcoin is getting stronger and proving to consumers and businesses it is not going away.

Here is what is not being said about Bitcoin that should be.

Continue reading:
http://techcrunch.com/2014/02/28/whats-not-being-said-about-...

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With apologies to Burma Shave....

Big Mistake

Lose a Million

Rely on Bits

Instead of Bullion

BITCOIN

Leges sine moribus vanae

The Spaghetti Monster too!

The Spaghetti Monster is growing stronger and more real everyday! It is pulling in quantum patterns from interdimensional branes and becoming more and more real and will soon rule the world! :D

This message brought to you by the Church of Satoshi and the Latter Day Coins...

.
~wobbles but doesn't fall down~

it already does

“With laws shall our land be built up, but with lawlessness laid waste.”
-Njal Thorgeirsson

Furthermore . . .

Recommended reading: The Most Dangerous Superstition, http://www.amazon.com/Most-Dangerous-Superstition-Larken-Ros...

So glad I lift MtGox months ago

and started trading on BTC-e.

Getting strong now

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
My ฿itcoin: 17khsA7MvBJAGAPkhrFJdQZPYKgxAeXkBY
http://www.dailypaul.com/303151/bitcoin-has-gone-on-an-insan...

US Govt Seizures...

And people like Two Bit Idiot and others are speculating that some of the private keys to the cold storage were seized by the US Govt in safety deposit boxes (or otherwise). Karpeles said in IRC that the US Govt did not want them commenting on the known USD seizures.

Something's strange. Either the US Govt or the Yakuza could be a reason. Allegedly 150k BTC have been located-

http://www.reddit.com/r/Bitcoin/comments/1za9sf/found_at_lea...

Check out http://ronpaulforums.com for activism and news.

maybe it is, maybe it is not

it is quite volatile, im pretty sure it will hit the high 400's again and back up to 600's. Right now it is exciting for traders...

the real reason Mt gox failed was people would make transactions look stuck on purpose so they could file a ticket and get refunded. most sites do audits now.(from a credible source) Very amateur management imo. Btc-e would be the best bet right now for those who like to trade.

the current kitco average is about $560 right now

while i like btc-e i think bitstamp is the new top dog. once btc-e becomes more transparent they have a real shot at the number 1 spot but for now they are #2 or 3 in terms of volume.

my best guess is that we are fixing to see btc go on another insane surge into the thousands. just like after silk road was shut down and btc was declared dead. for btc all publicity is good publicity.

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
My ฿itcoin: 17khsA7MvBJAGAPkhrFJdQZPYKgxAeXkBY
http://www.dailypaul.com/303151/bitcoin-has-gone-on-an-insan...

here comes the establishment...

http://chycho.blogspot.ca/2014/03/fragmentation-of-bitcoin-c...

http://finance.fortune.cnn.com/2014/02/25/secondmarket-bitco...

“SecondMarket CEO Barry Silbert says that he's modeling it after the early days of The IntercontinentalExchange (ICE), and that he hopes to have a set of founding members in place by the end of March (i.e., a ‘seat’ model). These members are expected to include Wall Street banks and well-funded Bitcoin startups (think Circle and Coinbase). Non-member firms or individuals would not be allowed to trade -- at least at the outset -- but likely could do business via the member firms.

Check out http://ronpaulforums.com for activism and news.

Just like what the Fed did in its early days:

1) Let all the non-Fed member banks fail (there was still such a thing as non Fed member banks in the early days). Or bail them out on condition that they join the club.

2) Consolidate everything - the entire banking system under the Federal Reserve System.

The Establishment is here. Look for bitcoin to start flying again soon, to higher heights than before.

The Diamond Dog is a real cool cat. | Reporting on the world from an altitude of 420.

Although I Am An Advocate

for competing currencies, crypto currencies that have no store of wealth other than the faithful participants' are doomed to fail just like any other fiat currency. Full faith and credit only goes as far as the people's belief in that credit, hence once the faith wanes, so does the wealth.

It stands to reason that where there’s sacrifice, there’s someone collecting sacrificial offerings. Where there’s service, there’s someone being served. The man who speaks to you of sacrifice, speaks of slaves and masters. And intends to be the master.

looks to me like lots of it

looks to me like lots of it went away.

nope

the party is just getting started.
get a btc wallet brother and i'll send you some free btc. same goes for any other member that i respect and that's been here for over 3 years.
blockchain.info is a great starter wallet.

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
My ฿itcoin: 17khsA7MvBJAGAPkhrFJdQZPYKgxAeXkBY
http://www.dailypaul.com/303151/bitcoin-has-gone-on-an-insan...

what is different in the btc wallets? (or is there a difference?

I mean you said a starter wallet, so I assume that there are some differences?

Let me know if you know.
thanks!

easy of use

i like the https://blockchain.info/ online wallet for everyday easy of use and getting people started instantly.

you can download the standard btc qt wallet https://bitcoin.org/en/download but you have to wait for the blockchain to dl before you can use it. it can take a day or so. other wallets like https://electrum.org/ store the blockchain in the cloud so you don't have to wait.

technically an online hot wallet is not as secure as a desktop client.

more info here...
Bitcoin Self-Defense, Part I: Wallet Protection
http://www.dailypaul.com/304563/bitcoin-self-defense-part-i-...

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
My ฿itcoin: 17khsA7MvBJAGAPkhrFJdQZPYKgxAeXkBY
http://www.dailypaul.com/303151/bitcoin-has-gone-on-an-insan...

Thanks! I think I have a wallet somewhere

I was wondering though, if I wanted to say sell a product, like a tire on Craigs list or something, and I wanted to get paid in btc , what is the simplest method? do we both need a laptop? or say 2 smartphones? or a laptop and a flash drive?

any ideas? it would be in person, so email it to the other person ,could only happen in person. (when product changed hands)

-----------------
also, what is the safest wallet>? ( I am assuming one you keep in a flash drive not connected to any computer )
I saw this on block chain and dont want this to ever happen.
https://bitcointalk.org/index.php?topic=497986.0

the simplest method

is probably for you both to have a smartphone and have him scan your qr code and send the btc. should only take a few seconds.

----
armory is probably the best wallet for security and easy of use. there's a video about how to use it in my btc wallet thread.
a usb/cd and offline computer is what i use for cold storage but i use a online blockchain.info wallet with Two Factor Authentication for everyday use. it's probably best to not keep more than a few thousand on an online wallet but some people keep tens of thousands or more on blockchain.info. just make sure you have a good password like 13+ characters long and 2fa and you will be fine.
not sure what happened to the guy in the post but it's some kind of user error not a blockchain.info issue.
"Your email was hacked and there was an unencrypted backup/weak password backup there."

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
My ฿itcoin: 17khsA7MvBJAGAPkhrFJdQZPYKgxAeXkBY
http://www.dailypaul.com/303151/bitcoin-has-gone-on-an-insan...

MMJ, this question is rather

MMJ, this question is rather off your particular point, but what options are there for folks to buy partial Bitcoins or Litecoins without having to link a purchase through a bank account to an exchange? I have found the crypto currencies quite interesting since before they blew up, but I am always hesitant to give my routing numbers out to possibly fly-by-night exchanges. So, if there are places where I could purchase small quantities using money orders or pre-pay debit cards, that would be lovely. Any suggestions would be greatly appreciated.

a few options

bitstamp is very transparent and now the top btc exchange. in the usa you have coinbase which is very good too but both of those require bank accounts i believe, although you may be able to buy with credit cards at coinbase i'm not sure.

for anonymous cash or money order purchases etc you can always go to
https://localbitcoins.com/ . there are other places too where you can buy a moneypak from walmart, 7/11 or walgreens etc and trade that for btc anonymously like https://moneypaktrader.com/index.php but the fees are high unless you buy a lot.

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
My ฿itcoin: 17khsA7MvBJAGAPkhrFJdQZPYKgxAeXkBY
http://www.dailypaul.com/303151/bitcoin-has-gone-on-an-insan...

Thank you for your reply. I

Thank you for your reply. I will look into those places that you mentioned. Have a great day.

Thanks for the challenge, MMJ Ministry

I have opened my first wallet. It couldn't have been easier. If I qualify for your offer, I will send you my new address.

cool

what's your btc add?

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
My ฿itcoin: 17khsA7MvBJAGAPkhrFJdQZPYKgxAeXkBY
http://www.dailypaul.com/303151/bitcoin-has-gone-on-an-insan...

My BTC address...

1E3GhSA5HVQxfdFezFyPfHvvPF1qJWg9iU

done

enjoy
https://blockchain.info/tx/a61bb0dbce9dd71a267cbef36c5f796d7...

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
My ฿itcoin: 17khsA7MvBJAGAPkhrFJdQZPYKgxAeXkBY
http://www.dailypaul.com/303151/bitcoin-has-gone-on-an-insan...

Thank you. MMJ!

Thanks for the taking the time and adding the incentive for this good deed.

I had been procrastinating this first step and wrongly assuming that it would be rather complicated and time-consuming.

The Party - Look around at the attendees - If you can't spot

the sucker, it's YOU.

Leges sine moribus vanae

why do you troll the btc threads?

are you jealous of the early adopters? you don't ever have anything meaningful to say or contribute to the debate just hate.
is it that you just like to transact in fed fiat or are you just not technologically literate enough to get btc, what is you major malfunction?

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
My ฿itcoin: 17khsA7MvBJAGAPkhrFJdQZPYKgxAeXkBY
http://www.dailypaul.com/303151/bitcoin-has-gone-on-an-insan...

MMJ, what are some good

MMJ, what are some good sources you'd recommend to understand bitcoin? I know a little, but I'd like to become more knowledgeable on the whole thing.

good question

no easy answer. it really takes time to really get a grasp of what bitcoin is and can do. you can easily google the short introduction to btc videos so i'll give you some other more in-depth ones.

here's my btc thread that has a few really good videos to get you started. there's info on wallet security and other stuff too.
http://www.dailypaul.com/303151/bitcoin-has-gone-on-an-insan...

another good one on the longer side is.....

and....

The True Value of Bitcoin: What You Really Need To Know

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
My ฿itcoin: 17khsA7MvBJAGAPkhrFJdQZPYKgxAeXkBY
http://www.dailypaul.com/303151/bitcoin-has-gone-on-an-insan...