lulz
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Are you buying a rolex? If so PM me first.
Why, you buy/sell those too? I still need Lowes cards if you come across any. Iāll be texting you soon if you donāt hit me up first. 
I donāt but have a great connection!
Also have over 5k in lowes right now if ya need any.
D
Iāll probably need another $1k of my Lowes fix from ya. What are you up to this Saturday?
Bitcoin security guarantee shattered by anonymous miner with 51% network powerhttp://arstechnica.com/security/2014/06/bitcoin-security-guarantee-shattered-by-anonymous-miner-with-51-network-power/
itās happening
The US government should mine the shit out of crypto and then migrate us to that currency.
This was a major topic for the Bitcoin Developers meeting when I was in NYC this week. There is alternative ways to create blocks from being favored to the pool that finds it. I donāt think anyone saw the pools become so powerful and half the problem is the people mining arenāt paying attention. The surge of P2Pools now will also combat this.
Anyone with 20% of the hash power can start doing things. It has been going on for a long time and the āsecurityā of the network is never a problem as no one can steal your coins but they can start manipulating what transactions take priority and block addresses from being used in transactions. It isnāt as big of problem yet that the media is making it but it also is something that there is active development to help combat.
Part of the problem is that when a block is solved, it takes about 12 seconds to get to other nodes and them to start working on the next block. In this time, these major pools have had 12 seconds of head start to solve the next block as they know the hash of the previous faster. There is def some development on this already.
The major fear would be if G.Hash goes offline. They have the potential to build their own chain and if theirs is longer in their internal network, they could merge back and do some damage. One of the things people donāt realize is there isnāt much incentive to do this as the benefit would be extra bitcoins but if you damage the network, the price crashes anyways essentially giving you 0 return. The bigger fear from devs is the possibility of a hacker taking over G.hash and then doing their own bad things. Still, would be the same as if you have a way to steal $1,000,000,000 but doing so would crash the US dollars value making your billion dollars worthless.
As for major investment, when I was there there was the announcement that Holiday Inn has not begun accepting Bitcoin in a NYC area trial. Also, there has been the acceptance of the NCAA Bitcoin Bowl this year on December 26th for college football.
Except that there are lots of people out there that will set something on fire even though they donāt need any heatā¦ They just like to watch stuff burn.
Are they accepting bitcoin or using someone to convert it to USD on the spot?
Most larger companies right now are using conversions to cash as their suppliers and expenses donāt accept it yet. As we see the sale of Bitcoins by the US Government now leading more and more legitimized it as a legal to own item, we may start seeing a shift and more vertically integrated
Part of the problem is that to control 51%, you have a serious investment in Bitcoin. Smaller alternative coins can be taken over with attacks simply with hardware I have in my apartment as the network is not strong enough but there is a relationship between investment into Bitcoin and the ability to control 51% of the network to leverage such an attack. Someone pissed off at the world just canāt do it without a serious stake. It isnāt like a bank where you can just take it.
Everyday is a great day
ya gotta love NY. they had the center of innovation but when one of the biggest financial districts are here, you saw the influence of the bankers into our laws.
funny thing with the regulations, the only people exempt from it are actually banks.
On the other news, China is now allow more and more trading, the world reserve bank is talking about digital assets, and there is a lot of new developments in the market. sorry to see NY miss this boat and people taking their startups elsewhere.
London has become the new eye. There is even programs setup if you have a backed startup, you can move your company to London with help for free or something I read. Canāt find the article right now.
While NY is missing the boat, California is making a push to allow businesses to use it there. Will be interesting.
Lots of price changes the last few weeks and should continue through August. Now is a good time to get re positioned into Bitcoin. Was able to double my holdings =)
Is there a beginners guide to bitcoin anywhereā¦like a Dr. Suess version?
This one isnāt bad. \
https://www.weusecoins.com/en/
I have a few slides from a talk I did on the technical aspects and demystifying the block chain to help people understand common misconceptions. Also, that Bitcoin is more than transfer of assets but the blockchain is a key element to opening a lot more doors such as smart contracts that are not popular yet.
Basically, there is also digital escrow, you and I agree on sending 1 BTC to eachother unders certain terms. It can be released and mapped to certain conditions such as time/date/etc or it can be in escrow and held until it gets a certain number of āSignaturesā to release it to the final destination. This is still a baby currency and still has a lot of work but worth starting to understand.
Authorization to trade from investors.
http://www.coindesk.com/bitcoin-investment-trust-gets-finra-green-light-to-trade/
I bought something today and there were two options to pay: Credit card or BitCoin. First time Iāve seen it. Surprised there wasnāt a PayPal option.