If the fractional reserve banking system can make $980 billion physical USD bills into $9.5 trillion dollars, then the very same system will make 7.2 million bitcoins into 72 million bitcoin credits. Don't confuse the actual currency in circulation with whatever the money multiplier produces.
The fact is "blockexplorer", "block chain", "bitcoin address" are complete gibberish to Paypal (more accurately the minimal wage drone in India working for Paypal). They are trained to either take a USPS, Fedex, or UPS tracking number and verify whether that shipment matches the buyer's and seller's address. That's all they know how to do. No matter how much you explain bitcoins to them they will not understand.
Disclaimer: I have never taken an economics course in my life and I have been repeatedly characterized as "terminally retarded" in Internet discussions. The above calculations might not land in the right sport, let alone the right ballpark.
how easy it was for people to scam you out of bitcoins by contesting Paypal payments
1. Scammer buys bitcoins on ebay.
2. Seller sends the bitcoins
3. Scammer pretends he never received them, and reports this as a fraudulent transaction to Paypal
4. Paypal asks the seller for evidence that he has sent the goods (i.e. a tracking number)
5. Sellers explains what bitcoins is, digital revolution, bring back the gold standard, Ron Paul 2012 et cetera
6. Instead of a tracking number, Paypal gets a bunch gibberish, so it rules in the scammer's favor
7. Rinse and repeat
This applies to pretty much all virtual goods on eBay, so it's not really a bitcoin problem as much as it is a Paypal problem.
This whole digression is moot in the end because there are dozens of bitcoin exchanges out there now, so there's no need to rely on Paypal. Admittedly it was a problem in the early days before exchanges were established, so that's no longer the case.
First of all, taking electricity from the hallway is obviously theft.
But more importantly you are trolling because each 6990 consumes at least 300 watts during mining, which means you need 7.2kw for your whole setup. This far exceeds what a single outlet can provide.
a 10-car subway train in New York's system requires a jolt of three to four megawatts of power for 30 seconds to get up to cruising speed — that's enough energy to power 1,300 average U.S. homes."
I write to renew my request that the Senate create a temporary Select Committee on Cyber Security and Electronic Intelligence Leaks. I feel this Select Committee is necessary in order to develop comprehensive cyber security legislation and adequately address the continuing risk of insider threats that caused thousands of documents to be posted on the website Wikileaks.
Emphasis mine.
I wish there was a "Parent is right. This story is 50% bullshit and 100% trolling. Let's delete it." mod. When 5 people use that mod then the story gets automatically deleted.
I think you mean to say it was the Soviet invasion of Afghanistan that created the Mujahideen, and destroyed all that "infrastructure". If you were intellectually honest that is.
The Mujahideen was mostly foreign fighters funded by foreign powers using foreign weapons. I failed to see why the Soviet would want to create such a situation.
In most states the act of bestiality is illegal, but pornographic photographs of animals are not.
In every state, sex with children, as well as pornographic photographs of children are illegal.
Which brings us to the question: is pornographic photographs of monkey children illegal?
Please help me out here, Slashdot armchair lawyers. I desperately need the answer for educational purposes.
Sorry, I made a mistake. SCOTUS ruled that the defendant can be compelled to produce a physical key, but not the combination to a safe. While both of those things could be used to open a safe, one is a physical object and the other is part of the defendant's mind. I should have used "key" instead of "combination" in my example.
It sounded all simple and straight-forward in my head, but when I typed it out and imagined a jury of non-technical people interpreting it, it does sound like a crackpot method.
Thankfully I have a different solution. One of the AES candidates, HPC has the unique ability of allowing variable block lengths and variable key lengths. So I can tar up my files and encrypt it as one N-bit block, using a N-bit key (a memorized passphrase padded with 0s at the end). This way I can successfully argue that both the plaintext space and the key space is 2^N, thus there are ~2^N possible decryptions (slight less in actuality due to entropy issues).
One round of encryption, no special modes, no modification to the algorithm, and using a public domain cipher that was recognized and studied by a US agency.
Slashdot Mirror
No, bitcoin is precisely the equivalent of M0.
If the fractional reserve banking system can make $980 billion physical USD bills into $9.5 trillion dollars, then the very same system will make 7.2 million bitcoins into 72 million bitcoin credits. Don't confuse the actual currency in circulation with whatever the money multiplier produces.
A hilarious comment from the source shows how pathetic your trolling attempt is:
Not to mention that the door hinges on the side away from the plug, so you have to unplug the door to open it.
The fact is "blockexplorer", "block chain", "bitcoin address" are complete gibberish to Paypal (more accurately the minimal wage drone in India working for Paypal). They are trained to either take a USPS, Fedex, or UPS tracking number and verify whether that shipment matches the buyer's and seller's address. That's all they know how to do. No matter how much you explain bitcoins to them they will not understand.
In the one-in-a-billion chance that 20 years from now the entire world's economy is being transacted in bitcoins, you'll be a multibillionaire.
I know that "billionaire" part is just a figure of speech, but let's find out how large the bitcoin jackpot really is, for curiosity's sake.
Suppose miraculously bitcoin manage to completely replace both the USD and the Euro tomorrow. There are currently:
980 billion USD in circulation
863 billion Euros in circulation (~1.2 trillion USD)
7.2 million bitcoins in circulation
Thus each bitcoin would be worth approximately 300k USD. Hardly makes you a millionaire, let alone a billionaire.
Disclaimer: I have never taken an economics course in my life and I have been repeatedly characterized as "terminally retarded" in Internet discussions. The above calculations might not land in the right sport, let alone the right ballpark.
how easy it was for people to scam you out of bitcoins by contesting Paypal payments
1. Scammer buys bitcoins on ebay.
2. Seller sends the bitcoins
3. Scammer pretends he never received them, and reports this as a fraudulent transaction to Paypal
4. Paypal asks the seller for evidence that he has sent the goods (i.e. a tracking number)
5. Sellers explains what bitcoins is, digital revolution, bring back the gold standard, Ron Paul 2012 et cetera
6. Instead of a tracking number, Paypal gets a bunch gibberish, so it rules in the scammer's favor
7. Rinse and repeat
This applies to pretty much all virtual goods on eBay, so it's not really a bitcoin problem as much as it is a Paypal problem.
This whole digression is moot in the end because there are dozens of bitcoin exchanges out there now, so there's no need to rely on Paypal. Admittedly it was a problem in the early days before exchanges were established, so that's no longer the case.
First of all, taking electricity from the hallway is obviously theft.
But more importantly you are trolling because each 6990 consumes at least 300 watts during mining, which means you need 7.2kw for your whole setup. This far exceeds what a single outlet can provide.
The real Fallout from Fukushima is renewed fear of Nuclear power as if dumping tons of uranium into the atmosphere is LESS hazardous.
TFTFY
Erlang on the backend and RoR on the frontend, actually.
Did you choose your /. username before or after you joined the project?
You can't choke someone over the internet, until now.
This patents is for the algorithm and the hardware that actually makes it possible. Minority Report contained neither of those things.
a 10-car subway train in New York's system requires a jolt of three to four megawatts of power for 30 seconds to get up to cruising speed — that's enough energy to power 1,300 average U.S. homes."
For how long?
Humans have been "selected" for large brains.
I, for one, welcome our new sperm whale overlords with their 7kg brains.
Doxer delivered the information to a dead drop box 62 times.
That's ironically inefficient for an employee at the world's largest CDN.
Doxer worked in the finance department at Akamai's Boston headquarters.
Ah, that explains everything.
An engineer wouldn't have been caught because he would be behind 7 proxies and only accept payment in bitcoins.
US courts don't tolerate libel and slander. Simple reminder.
I write to renew my request that the Senate create a temporary Select Committee on Cyber Security and Electronic Intelligence Leaks. I feel this Select Committee is necessary in order to develop comprehensive cyber security legislation and adequately address the continuing risk of insider threats that caused thousands of documents to be posted on the website Wikileaks.
Emphasis mine.
I wish there was a "Parent is right. This story is 50% bullshit and 100% trolling. Let's delete it." mod. When 5 people use that mod then the story gets automatically deleted.
If the NASA budget is linearly rising, then the value of the money they receive is exponentially declining due to inflation.
I think you mean to say it was the Soviet invasion of Afghanistan that created the Mujahideen, and destroyed all that "infrastructure". If you were intellectually honest that is.
The Mujahideen was mostly foreign fighters funded by foreign powers using foreign weapons. I failed to see why the Soviet would want to create such a situation.
running lines above ground is problematic because poles fall during winter storms.
Isn't it mostly farmland there? Then there's no need for poles, right? Just lay the cables beside the roads.
And on an entirely more serious note:
In most states the act of bestiality is illegal, but pornographic photographs of animals are not.
In every state, sex with children, as well as pornographic photographs of children are illegal.
Which brings us to the question: is pornographic photographs of monkey children illegal?
Please help me out here, Slashdot armchair lawyers. I desperately need the answer for educational purposes.
One could say that they were monkeying around with the site for over a decade.
Thank you, thank you! I'll be here all week.
Sorry, I made a mistake. SCOTUS ruled that the defendant can be compelled to produce a physical key, but not the combination to a safe. While both of those things could be used to open a safe, one is a physical object and the other is part of the defendant's mind. I should have used "key" instead of "combination" in my example.
Great, I can't wait until the slashdot story tomorrow about the outage being resolved. The suspense is killing me.
Good point.
It sounded all simple and straight-forward in my head, but when I typed it out and imagined a jury of non-technical people interpreting it, it does sound like a crackpot method.
Thankfully I have a different solution. One of the AES candidates, HPC has the unique ability of allowing variable block lengths and variable key lengths. So I can tar up my files and encrypt it as one N-bit block, using a N-bit key (a memorized passphrase padded with 0s at the end). This way I can successfully argue that both the plaintext space and the key space is 2^N, thus there are ~2^N possible decryptions (slight less in actuality due to entropy issues).
One round of encryption, no special modes, no modification to the algorithm, and using a public domain cipher that was recognized and studied by a US agency.
Interesting.
Maybe I should abort my second child and go straight for the third one instead.