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fermun
Nov 4, 2009

The X-Files will return in a moment.



http://www.newscientist.com/special/bitcoin
New Scientist is going all out, 7 bitcoin articles. i haven't read any but i imagine that they are all going to be pretty stupid.

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fermun
Nov 4, 2009

The X-Files will return in a moment.




totalbiscuit is a populer youtube video games guy. he was making GBS threads blood for about 12 months before going to his NHS doctor to say "hey, i've been pooping blood for a year, what's up" and the what is cancer, and the up is up his butt. it's colon cancer that caused him to poop blood for a year.

when totalbiscuit found out that he had colon cancer, he did a public service let's play where he talked about how he had colon cancer and gave the helpful message that you should go to the doctor if you poop blood. it's a very good message, but i don't know that it needed a public service message, as who wouldn't go to a doctor for that? even if you don't live in england and have to pay money for doctor visits, you are probably going to go to a doctor whenever you are pooping blood.

fermun
Nov 4, 2009

The X-Files will return in a moment.





dang recent misfortune, it was totally unavoidavle!

fermun
Nov 4, 2009

The X-Files will return in a moment.



Blake Benthall ‏@blakeeb Apr 21
@PorterHaney working from Vegas for the next three days, would love to hang again!

http://twitter.com/blakeeb/status/458414073147715584

fermun
Nov 4, 2009

The X-Files will return in a moment.



https://www.reddit.com/user/blakeeb

here is his reddit account, someone get ..! or robawesome to go look through this poo poo for funny things.

fermun
Nov 4, 2009

The X-Files will return in a moment.



FCKGW posted:

Blake Benthall had just pulled his gray Tesla out of the driveway next door to his rented house on Florida Street Wednesday afternoon when some 20 FBI agents, weapons drawn, surrounded him and then arrested him for allegedly running an illegal online marketplace.

“They told us to go inside the house,” said Francisco, who was visiting Benthall’s neighbors.

By Friday, the house at 915 Florida St. had become a local tourist site and neighbors talked about the unassuming man with a beard who had lived there.

“He would invite us to parties at his house,” said Francisco “He was a nice guy. I feel bad for him. The guy was an entrepreneur.”

Nearby residents knew the 26-year-old Benthall as a polite neighbor who occasionally threw loud parties. He also read the bible with his 85-year-old neighbor who rented out her driveway to him.

“He was very polite, he told me ‘let me know whenever you need a ride,’” said his 85-year-old neighbor. “I am really going to miss him.”

The neighbor, who asked that her name not be used, talked to the Texas-native about the bible – he kept a copy inside his Tesla. They also talked his visit with his mother this last summer.

“He told me about his mom who missed him very much,” the neighbor said getting emotional as she spoke. “As a mother I know what that feels like. I was the only person he talked to.”

Added Afi Lindberg, another neighbor, “He looked like just any other techie.”

What neighbors never suspected was that the self-described rocket scientist – he previously worked at Elon Musk’s Space X startup – was maintaining Silk Road 2.0, a black market for drugs and counterfeit documents that was generating $8 million in sales a month, according to New York U.S. Attorney Preet Bharara.

If convicted, Benthall faces life in prison on charges that include one count of conspiring to commit narcotics trafficking, one count of conspiring to traffic in fraudulent identification documents, and one count of money laundering conspiracy.

Benthal moved to Florida Street more than a year ago. He lived there with two roommates, but no one at the house answered the door on Friday afternoon.

Silk Road 2.0 opened on November 6, 2013 shortly after the FBI arrested Ross Ulbricht, the creator of the original Silk Road. Ulbricht was also a Texas native living and working in San Francisco.

Defcon, the username attached to Benthall according to a court affidavit, took over operation of Silk Road 2.0 in December 2013.

His neighbors said they first knew the house where he lived because of an elaborate cutout of a pirate ship that hung in the apartment’s bay window.

In January, however, it became known as the house where the owner of the new Tesla lived. Bethall bought the $127,000 Tesla in January using $70,000 worth of Bitcoin as a down payment, according to the court affidavit.

“My son was the one who told me about the expensive car,” said Graciela Trasvina.

On Friday morning, two days after the raid, the Tesla was gone, but the house had become a local curiosity.

“I would never think that was a drug house at all,” said Carrie Ryder, a neighbor who was outside taking a photo of the house. “It was hiding in plain sight.”

haha, i've seen this douchebag's tesla, i live 2 blocks from where he did. thankyou fbi for taking a techie out of the neighborhood.

fermun
Nov 4, 2009

The X-Files will return in a moment.




so this is probably a scam right? like he's not going to be posting on twitter a week after getting arrested and a lawyer posting for him would probably have a website, right? seems like most likely someone hacked his twitter account and posted their own bitcoin address to scam the libertarian drug nerds.

fermun
Nov 4, 2009

The X-Files will return in a moment.





from google maps, that's his tesla. this is also a rent-controlled apartment, so he was taking up an affordable place while running a website that did $8M in drug sales a month.

fermun
Nov 4, 2009

The X-Files will return in a moment.



https://www.youtube.com/watch?v=o-oX1nK9BtM

fermun
Nov 4, 2009

The X-Files will return in a moment.





edit: i decided to go ahead and make this bigger and pause the ending frame for a bit

fermun fucked around with this message at Nov 11, 2014 around 23:11

fermun
Nov 4, 2009

The X-Files will return in a moment.



FMguru posted:

ill never not be amused by how they think $100 is some amazing, life-changing amount of money for an mit student. tuition at mit is $45000 a year. add in books, fees, travel, room, and board, and most students will burn through $250000 or so in loans and spending and scholarships during their four years at the 'tute

$100 would barely pay for part of one book for one particular survey class. and its not a hundred dollars, its a hundred dollars worth of bitcoin, which is only slightly more useful to any given mit student than $100 worth of chuck e cheese tokens. what is a student supposed to do with their 0.31 bitcoins? buy some sheets for their dorm room on overstock?
it also utterly fails to serve the purpose of the experiment. the whole idea was to give everyone enough that they'd start trading it around and using for goods and services with each other. give everyone a bit of money so they can send $10 worth when their buddy covers them for lunch, etc.. giving just $100 worth doesn't really give enough to do that and the weird distribution method they used that resulted in very few collecting means that there's no real way to have that sort of thing. everyone who bothered will just sell it to the guy in their dorm that actually wants it at half price and forget about it.

fermun
Nov 4, 2009

The X-Files will return in a moment.



Same Great Paste posted:

is this all a rally based around the 1-year-loss day? or are there other happenings happening?

my guess is that silk road 2 wallets were probably seized. with the people actually buying and selling and keeping their bitcoins liquid losing their bitcoins, there are fewer non-hodling bitcoins but no diminishing demand to use them for buying and selling drugs on the non-seized websites. with the fbi holding a large chunk of the liquid bitcoins, the price has to go up to maintain the useable liquidity.

fermun
Nov 4, 2009

The X-Files will return in a moment.



newreply.php posted:

does anyone know why bitcoin always goes up when there are darknet market busts? is it something to do with how it loses what little value it had and becomes a hoarding thing again or what
most bitcoiners are just speculators that respond to any condition of the bitcoin market by hodling. those that aren't are participating in the major activity of the bitcoin market, the illegal drug trade, and that's essentially all of the liquid bitcoins as opposed to the ones being held for speculation. when the darknet market is seized, the bitcoins on those darknet market servers are seized as well that's a huge chunk of the actual liquid bitcoins. there are now fewer liquid bitcoins to cover the bitcoin economy, but other sites take up the slack, it's easy for the vendors and customers to switch over to the other sites that werent taken down like Agora. the drug trade is back to what it was but there are now fewer liquid bitcoins than there were, so the price has to go up to handle the drug trade.

over time, speculators sell or the miners sell to cover their costs and the price goes down again.

fermun
Nov 4, 2009

The X-Files will return in a moment.



it only works for so long, as the butterfly labs stash was just cleared for auction to make good on reimbursing customers, there are 25k held by an Australian police department in Queensland, I believe that have been cleared for auction, there are the 200k from mtgox which will be auctioned off eventually, the fbi has 144k from silk road 1 which can be auctioned off once ross ulbricht is found guilty in january probably. there are however many were seized in the silk road 2 seizure as well as any other darkweb site seizures which will probably start being auctioned off in may or so.

depending on the manner of sale for those, some might become liquid again and cause a price crash.

fermun
Nov 4, 2009

The X-Files will return in a moment.



infernal machines posted:

what kind of idiot is going to drop cash on those just to dump them on the market, tanking it?

a: the bitcoin kind of idiot

its possible that some lots will go for under market value, it's possible there won't be a dumb crazy rich person like tim draper to buy every lot of them all and just hold them forever. if someone manages to get an auctioned lot for under market value, it's worth it for them to make a quick profit, if enough people get a lot it's possible some will become liquid due to someone needing money, etc. and in the end the sale of all the seized lots keep any serious bigtime buyer from trying to do it on an exchange where the cost would go up if they did it.

fermun
Nov 4, 2009

The X-Files will return in a moment.



theflyingexecutive posted:

it does take this long in some cases but I think high speed rail is only worthwhile for closer-together cities like on the coasts

it is useful in the 400-500 mile range, shorter than that you are better off with just regular rail and longer than that and you're outcompeted by planes unless there's a change in taxes and subsidies that make the longer trip significantly better in price.

fermun
Nov 4, 2009

The X-Files will return in a moment.



Robawesome posted:

Chinese exchanges don't have fees or something

the Chinese exchanges all operate on a monthly subscription model, you pay a flat rate to be able to buy and sell there and then no fees on individual transactions

fermun
Nov 4, 2009

The X-Files will return in a moment.



hobbesmaster posted:

funny thing about this case, it looks like part of the "ross isn't dpr" defense was saying "why would we care about these bitcoins, they're not the defendant's"

as i understand it, they only did that for the silk road bitcoins, these are his personal stash. it was 29,700ish silk road bitcoins, those were sold with them saying that who cares they aren't ours, those were fully sold off to tim draper.

the remaining 144,200 or whatever it is exactly were recovered from ross ulbrich's personal laptop, and he and his legal team have agreed to these being sold off to protect against volitility (these were seized during the ~$150-$200 bitcoin price days). these 50,000 that are being sold off in auction are a part of that personal stash and he has agreed to them being sold off and the resulting money is going to be held in escrow until there's a verdict on the case.

fermun
Nov 4, 2009

The X-Files will return in a moment.



TVarmy posted:

pardon my dumbness, but does that have racist connotations, or is he comparing bureaucrats to oranges so it's okay?

http://en.wikipedia.org/wiki/Mandarin_(bureaucrat)

fermun
Nov 4, 2009

The X-Files will return in a moment.



Muscle Tracer posted:

is draper even the greatest fool? i thought the winkelvii were more heavily invested.

only sort of, they own ~150,000 but they bought when the average price was running between $5 and $15. draper owns fewer but he spent a lot more on them.

fermun
Nov 4, 2009

The X-Files will return in a moment.



from ...!

quote:

[–]lifeboatz 61 points 13 hours ago

The custom monikers don't help at all. While they can be cute or funny, sending someone a quaalude or a Lawsky, or even a donuthole outside of /r/bitcoin will look like a game.

quote:

[–]Bipolarruledout 27 points 12 hours ago

Meh.... it would be nice if there was a plugin that automatically added the dollar amount in parentheses.... not to mention typing the /u/changetip thing out.

quote:

[–]changetip 40 points 12 hours ago

The Bitcoin tip for 1 dollar (2,597 bits/$1.00) has been collected by lifeboatz.

ChangeTip info | ChangeTip video | /r/Bitcoin

quote:

[–]ohminuk 25 points 11 hours ago

lol, did you just accidentally one dollar via /u/changetip ?

quote:

[–]changetip 9 points 11 hours ago

The Bitcoin tip for one dollar (2,633 bits/$1.00) has been collected by Bipolarruledout.

ChangeTip info | ChangeTip video | /r/Bitcoin

two people accidentally tipping with changetip because the bot checks for any of its keywords in any post that mentions it.

fermun
Nov 4, 2009

The X-Files will return in a moment.



Jabor posted:

So what would happen if someone registered, say, the word "have" with the changetip bot as meaning $20?

when changetip has conflicting amounts, it goes with the smaller number

Sentient Data posted:

Pleasepleaseplease lead to some fun....





looks like sentient data is making sure that some common words will give a very small amount.

fermun
Nov 4, 2009

The X-Files will return in a moment.



sidechains don't exist yet but:

you know how bitcoin is limited to 7 transactions per second? well that's the math based on dividing the maximum block size out over 10 minutes and seeing how many transactions would fit. the math has changed a bit though, bitcoin transactions are variable in size because they can come from multiple addresses and be sent to multiple addresses, and transactions have generally become larger as time has gone on. the math works out to about 5 transactions per second these days, and that makes bitcoin kind of useless. the idea then is to create a system which pegs an altcoin to the value of a set of bitcoins, so people can send bitcoins to a specific address and those bitcoins become the basis of an altcoin, which would be used for a more limited set of transactions. then they would want some way to automatically set it up so that people could add more bitcoins and it would create more of the altcoin or they could send some of the altcoin somewhere and it'd automatically cash out and send the appropriate number of bitcoins from the sidechain reserve to your bitcoin address.

i think this is right, someone will probably correct me if i've hosed it up.

fermun
Nov 4, 2009

The X-Files will return in a moment.



Pardot posted:

What is the cause for this?

the estimate for the 7 transactions per second thing used a weird estimate of transaction size based on it sending from one address to one address. that's not the normal situation, most of them usually send from at least one address to a destination address as well as a second address that all the change from the transaction goes to. 7 transactions per second is 4200 transactions every 10 minutes, and a block must be under 1MB, which is 1048576 bytes, so about 250 bytes per transaction. that works for one source address and one destination address. that does not work for:

https://blockchain.info/tx/905d3a26...1f61f0b47378650

looks like the average from the last 6 blocks puts the average transaction size about 550 bytes, which would only allow 1906 transactions in a block, which would only be 3.18 transactions per second.

fermun
Nov 4, 2009

The X-Files will return in a moment.



fermun posted:

looks like the average from the last 6 blocks puts the average transaction size about 550 bytes, which would only allow 1906 transactions in a block, which would only be 3.18 transactions per second.

checked this for a larger number of blocks. last 33 blocks, block numbers 330862 through 330894 had 25,134 transactions and a total size of 12771.2kB, working out to an average transaction size of 520.3 bytes per transaction. That average allows an average of 2015.3 transactions per block, and that works out to a real network transaction volume rate maximum of 3.36 transactions per second.

i also discovered that the mining pool polmine is doing that thing where they only include a number of transactions that is a power of 2.
https://blockchain.info/blocks/Polmine

fermun
Nov 4, 2009

The X-Files will return in a moment.



http://www.usmarshals.gov/assets/2014/dpr-bitcoins/

Dec. 1 - Bidders must be registered
Dec. 4 - Bids must be submitted
Dec. 5 - Winners will be notified
Dec. 8 - Winners must pay
Dec. 9 - All Bitcoins will be transferred to bidders

fermun
Nov 4, 2009

The X-Files will return in a moment.



Greyhawk posted:

they've been doing that for some time now

the best part is that the information is or was quite often incorrect

there were some coiners complaining about being unable to pay due to false yelp information a few months ago

There was actually a time after that started being displayed on yelp that they were trying to get accepts bitcoin on stores that did not accept it so that they would have a bunch of people ask and the place would then look into it and accept it after getting asked so much.

No one ever asked so they just wound up putting accepts bitcoin on a bunch of places that they knew didn't.

fermun
Nov 4, 2009

The X-Files will return in a moment.



it was a lottery where no one had to pay in advance and no one had to commit to paying anything at all, they just somehow picked a winner and then anyone who decided to would pay them a few bucks and the hope was that the winner would become a millionaire and that they'd do the lottery again.

fermun
Nov 4, 2009

The X-Files will return in a moment.



fermun
Nov 4, 2009

The X-Files will return in a moment.



the ross ulbricht bitcoins should have been paid for today and be due to be transferred all by tomorrow, six california draper got 1 lot, but there are 19 more lots that i dont think anyone has announced winning yet.

fermun
Nov 4, 2009

The X-Files will return in a moment.



FMguru posted:

there are something like 35 bowl games played in the last weeks of december. the one that bitcoin is sponsoring is literally ranked 35th out of those 35. two schools no one cares about who managed to wheeze to a .500 record. theres a 50/50 chance the bowl will simply be canceled next year, or if it survives, the year after that.

bitpay bought 2 years of sponsorship, i doubt that it will be cancelled next year.


also:


with tim draper saying he won 2000, that'd explain all 50k us marshal auctioned bitcoins for this batch, 94k still in us marshal control. gray thread says that the bitcointrust was a group you could just buy into and they'd distribute winnings based on your share of the funds.

fermun
Nov 4, 2009

The X-Files will return in a moment.



they would charge high premiums and make you prove that you didn't control the address that they had been sent to, thereby assuring that they'd never have to pay out.

fermun
Nov 4, 2009

The X-Files will return in a moment.



slogsdon posted:

if i were a rapist buttr driver or whatever i'd just not surprise sex 99% of my clients and give them the best service possible

going through too much effort, if you are just good to 51% of your clients, you will have a net positive rating.

fermun
Nov 4, 2009

The X-Files will return in a moment.



i think that like 6 months back someone noticed that if you didn't want the reward then you don't need to send newly created coins to a dead address. if for some reason you didn't want the block reward to be useable, you could send 0.00000001 bitcoins instead of 25 because the protocol only checks whether the block reward transaction is bigger than the current maximum. it will not allow a reward of 25.00000001 because that's too much right now, but you can send any amount less than that. doing that would reduce the total number of bitcoins that could be created since the time to reward halving is still based on block number not bitcoins created.

fermun
Nov 4, 2009

The X-Files will return in a moment.




these are my favorite of the bitcoin things because they honestly think that the bitcoin price should be experiencing an exponential growth. they think that bitcoin should right now be between $1400 and $1900 as a fair price because they threw some trendline onto a logarithmic scale graph of the price and decided it was a sign of what would come.

fermun
Nov 4, 2009

The X-Files will return in a moment.



so can we expect a run up in the price today as bitcoiners who don't understand how irrelevant the st. petersberg bowl game is followed by a couple weeks of price dropping while they whine about how they don't understand why the price isn't going up from all of the new adopters?

fermun
Nov 4, 2009

The X-Files will return in a moment.



the other thread has a trip report from someone who went to the bitcoin bowl game

N00ba the Hutt posted:


Trip report time!

As previously mentioned, I didn't see much in the way of obvious Bitcoiner activity at the game. It was basically a Central Florida home game, since they are from Orlando, only a few hours' drive away, and that dominated the crowd. Coming through the turnstiles, people were greeted by a bunch of attractive girls in Bitpay shirts handing out glossy literature (more on that in a bit). I wandered over to one of them to ask if there was any centralized location where I could get a bunch more Bitcoin freebies (hoping for pitchforks, really), but she sheepishly confessed that she didn't really know and wasn't at all involved with Bitpay - they apparently just hired a bunch of women not even remotely affiliated with them to hand out their literature. Not really a surprise. Walking through the concourses, I did see a guy in a Pirate Bay shirt and a woman in a shirt saying "Bitcoins Not Bombs," but that was about it for any bitcoiners. I did hear some people talking about it in the stands, though most of it was "Yeah, so you pay real money for internet money, but can you get it back out into real money?" and jokes about paying all featured charity donations in bitcoins.

Game balls were delivered by a group of Army Rangers rappelling down from the roof of the dome. This was done to the strains of Wagner's "Ride of the Valkyries," though I'm not sure if anyone besides me found that a bit, uh, ironic.


The Bitpay executives were there for the coin toss to determine first possession. One of them brought his dog.


Probably a third of the seats at the Trop were blocked off, and even those that weren't had plenty of free seats.


Didn't quite get around to covering up all the MLB logos on the turf.


This thing didn't show up in the plebian seats where I was - far as I can tell, it made a brief appearance in the sponsor/bigwig seats and nowhere else. Hopefully it has since been sucked back to the nether hells from whence it came.


I think these are some of the people behind the magazine we all got.


One of the other sponsors was apparently a group called ViralStyle, who look to be a bunch of classy folks.


The ads played several times during TV timeouts in the stadium. Reception did not seem overly enthusiastic.


INTERLUDE: How to molest your ray


Halftime featured the NC State marching band performing a medley of Daft Punk hits. Doesn't work so well with marching bands. We also got to see a very special moment as the Key to the City of Madeira Beach was presented to the Bitpay team. Madeira Beach is VERY proud to be the FIRST official Bitcoin City and Bitcoin Beach in the WORLD, apparently. I'm counting the days until the city is hacked and their budget mysteriously vanishes.


It took four hours to play one hour of football. The game was pretty mediocre for much of it, too, as evidenced by this yawning cameraman.


NC State won. I'm very disappointed that the trophy wasn't just a big coin. Missed opportunity.


Here's the literature that was being handed out! It's... interesting stuff, that's for sure. Are you bit-curious?


Table of contents.


If only that wolf was colored red. Could've made it a Guy Fox.


Goldbugs and Bitcoiners: a match made in scam heaven.


All the profiles of "innovators" are apparently sponsored content, which amuses me greatly. But it's okay, yBitcoin magazine writers interviewed them before writing the puff pieces, so it's almost like real journalism, not advertising.


You can read the rest of the magazine yourself. There's some fun stuff in there, and I found several contradictions between articles just flipping through it before kickoff. I recommend seeing what else you can find.

fermun
Nov 4, 2009

The X-Files will return in a moment.




it's got a picture of someone in there. i guess the bot probably got a pm that they responded to.

fermun
Nov 4, 2009

The X-Files will return in a moment.



that part isn't insurmountable, miners/nodes check the validity of a block before they pass it on, you could just have part of that check be "did it come from a whitelist of chase_ip_addresses.txt" which would make it as secure from an attack as the individual servers are and then you're just left with "but why would we bother?"

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fermun
Nov 4, 2009

The X-Files will return in a moment.



FCKGW posted:

Winklevoss aquired a bunch of their coins before the second bubble at sub $100 price points.

they did an interview in the runup before the $266 bubble where they claimed they picked up ~100,000 bitcoins from june 2012 to january 2013 at $8-$15 apiece. who knows what they did since that second bubble but if they threw in the towel it'd pretty quickly crash everything

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