bitcoins

does /prog/ have any bitcoins yet?

i was never really interested until i saw the implications for anonymity, now with these torred off black market shops popping up... anyone has any experience with these? i can see the risk of getting ripped off, but i'm wondering about the risk of getting caught.

how secure is tor really? i hear some spooky people are running exit nodes, but the way i understand it... that doesn't really matter to hidden services, right?

http://www.bitcoin.org/smf/index.php?topic=3984.0

http://code.google.com/p/bitcoinj/

http://silkroadmarket.org/

http://www.maxvendor.biz/

how secure is tor really? i hear some spooky people are running exit nodes, but the way i understand it..
If you decide to send unencrypted traffic over tor, then that's your problem

Bitcoins isn't a very anonymous currency if you tie it to real life money by using an exchange, however it's a very clever digital currency. If you tie it with some sort of anonymous digital banking (or one of the "laundry" services provided by some bitcoin people), you could eliminate the links that you get with real money, or as long as you don't involve real money at all when using it (exchange). If you looked into bitcoin, you'd understand that its security is provided by the history of transactions built into the network, which is re-created each 10 minutes, however this also means all transactions are public and fully traceable (at least as far as their ids go), unless you try some sort of mixing/"laundry"/banking-like service.

As for Tor, it's as secure as it can be. Tor's main problems is the client leaking data about itself, but as long as you don't pass personally identifiable data over the exit nodes, you should be fine, provided you use reasonable settings.

I reported you're thread for blatant and annoying advertisment!

http://silkroadmarket.org

smoke weed everyday

I made hundreds of bitcoins using this pyramid scheme: http://fxnet.co.cc/?ref=529

I'm not giving you any of my ^Susscoins!

whats this shit

I thought this was rather interesting and ran the bitcoin generator for some time, got nothing though :(

>>9

join a mining pool such as http://mining.bitcoin.cz

Bitcoins!

I have a little over ฿400... Generated them in 2009-2010.
Should I cash them out or hold on to them?

bitcoin sucks because it didn't use a memory-bound function.

Bitcoins are amazingly non-anonymous. All transactions are public. Anyone with sufficiently capable computing can unmask you if they're after you. Cash is superior to BTC in terms of privacy.

I don't know what the fetish is with the "distributed" nature. What's wrong with a single central bank? What's wrong with using real fiat currencies, like the rest of the world? Convincing people to use a new currency is fantastical. You can have an anonymous bank protected with cryptography. I like the idea of https://en.wikipedia.org/wiki/ECache but they seem to be defunct. Unfortunately I couldn't find anything active that is similar. Someone really needs to get on this ASAP.

Only gullible faggots think bitcoins is equivalent to cash. I stopped reading when I got to the part where it says transaction history are forever etched. Fuck that shit, we need a true digital age cash equivalent.

>>15
Protip:you don't even know what cash is.

>>16
And you don't know how to lead a constructive conversation, or at least aren't interested in leading one at this time.

But to keep it going:

cash: A form of currency that carries essentially no information about its use in prior transactions.

>>17
So only currencies without an inherent transaction history are legitimate as cash? Can you tell me how you deal with currency inflation in a digital currency that doesn't have a global transaction database?

>>18
Cash is relatively hard to forge via counter fitting, so its circulation can be controlled by the central mint. It's difficult to do well and it is also illegal. The prevention of counter fitting gives the central mint the ability to control the number of unique bills at a given time. Keeping the bills scarce will prevent inflation.
 
To ensure scarcity, the amount of coins must be bounded. Also, transactions need to be fair and logical. If you give someone else x coins, you must give up x coins. With cash, scarcity is controlled by the mint and counter fitting laws, while the conservation of sum money in a transaction is maintained by there being only one physical manifestation of the bill. Therefore it can only be possessed by a single unique owner.

With a digital currency, scarcity can be regulated by only allowing a finite number of coins. The hard part is enforcing that coins are conserved in transactions. At any given time, every coin must have a single unique owner. I guess the easiest way to resolve this problem is to publish your ownership of the coin publicly. If someone else disputes your claim by claiming that they own the same coin, then the earliest claim has precedence. In order to keep the currency anonymous, it must be infeasible to associate the coin ownership statement to the actual owner of the coin. 

But there could be other methods as well. Like if the transaction system is closed source and assumed to be impossible to reverse engineer, then the system itself could be required in transactions and it could enforce that the transaction conserves coins. But all technology can be reverse engineered with enough resources, so if the coin system becomes sufficiently popular, it will eventually be reverse engineered.

>>19
This was about what I expected from a man who couldn't spell counterfeiting. Bitcoin has a built in inflation rate that isn't at the whims of a government, which could decide to turn on the printing presses and make the money at your hand lose its value rapidly and arbitrarily.

>>20
I also didn't expect much more from you than than insults based upon my familiarity with the english language. If this conversation was private, I wouldn't bother with talking to you, but other people may read and respond to these comments, so it was worthwhile.
,

>>1
^* /prog/ and no, I do not.

>>19
I upvoted you.

>>23
+repped

thanks, bro!

Simply follow URL and enter text and address to receive free bitcoins every hour!

http://freebitco.in/?r=242840

>>19
Yeah, fiat currency doesn't do dick with regards to inflation, well, unless you start printing billion dollar notes or something.
Fiat currency only represents a tiny fraction of money.
Most normal money is also just numbers on computers.

>>25
Yeah no, what`s the catch?

>>26
It's a lie. is just a honeypot to have dumbasses solve captchas

If you really want to check it out, enter without the ?r=242840 part.