Arlo1 said:But cant a hacker just make more?
Arlo1 said:So.... Then it is trackable and when the man finds you have x number of bit coins you will pay! I like gold the best because it can be held and only way someone will get it from me is to kill me! Were as some hacker can take all my bit coins.!
Arlo1 said:So.... Then it is trackable and when the man finds you have x number of bit coins you will pay! I like gold the best because it can be held and only way someone will get it from me is to kill me! Were as some hacker can take all my bit coins.!
liveforphysics said:Arlo1 said:So.... Then it is trackable and when the man finds you have x number of bit coins you will pay! I like gold the best because it can be held and only way someone will get it from me is to kill me! Were as some hacker can take all my bit coins.!
Nope, you've got a series of encrypted solutions to a math problem. Nothing to ID what part in the world they came from, nothing to tie you to the ownership other than currently having possession of those solutions, which may have been made from 10's of thousands of folks home computers around the world (not that it would be possible to know where they came from in the first place).
I'm sure it would be possible to have something more anonymous, but I can't think of what it would be.
If you buy gold from somebody, then you have a MUCH bigger and easier to follow trail back to you than if you buy bitcoins.
If you wanted to add an unneeded additional layer of security, buy any android device from another country, never put a simcard in it, use random open wifi points with an IP randomizer program for each connection, load any of the free bitcoin android apps, and only use that device for managing your bitcoin transactions, never using it for anything that could tie to you.
So, arrange to make payments etc with your normal phone/computer etc, but only actually do transactions from your little dedicated burner-phone, and you're about as secure as anything is ever going to get in life.
And the beautiful thing is, you can pay somebody on the other side of the world in 30seconds with bitcoin, and never have any record of that payment tied to you, but have confirmation that the payment did successfully get completed.
If you try mailing some gold to somebody on the other side of the world... I think you would find a less than stellar rate of getting them to say it arrived... and that's after you mailed it and waited days, and then the package you mailed has some ties to you still.
liveforphysics said:Looks like they didn't catch anyone still though... Just saw a trend.
Can you think of a more anonymous way to transfer funds?
Arlo1 said:As for the theft lets put it this way whats more riskey from a theifs stand point? If a theif can sit on the computer and push a few key strokes he is not worried about the guy on the other end of the world trying to find him. And whats the chance you will spend all the money to travel to go find the starbucks he was using a internet conection from to steal from you. But if you come into my house or shop or where ever and try to take my money out of my hands you better be preparied to DIE!
I see Hmmm. Now here is another question. What happens when your computer crashes?liveforphysics said:Arlo1 said:As for the theft lets put it this way whats more riskey from a theifs stand point? If a theif can sit on the computer and push a few key strokes he is not worried about the guy on the other end of the world trying to find him. And whats the chance you will spend all the money to travel to go find the starbucks he was using a internet conection from to steal from you. But if you come into my house or shop or where ever and try to take my money out of my hands you better be preparied to DIE!
If you're not a fool, boasting about your massive bitcoin stash, or running various malware programs that might sniff for packets that look like bitcoin data (which may or may not be possible to detect encrypted), no hacker would even know what computer to try hacking.
Likewise, bro, anyone can wait outside your house for you to leave, or if they were super vicious (and stupid), there is not a thing you can do about it if somebody wants to camp out with a hunting rifle outside your house. Enter it with a powerful metal detector setup for gold/silver, and find whatever you've got. The trick is not in having a 0.50" bore gun, the trick is in not having anyone know you have anything worth taking that you're stashing in your home. Bitcoins are about as descrete and effortless to thoroughly hide and not need to guard or protect as anything I can imagine using to hold value.
Good article. Thanks for posting the link.amberwolf said:Interesting article, mentions KnightMB by name and location. It does not appear to require a subcription to read.
http://www.wired.com/magazine/2011/11/mf_bitcoin/
I hope someone was kind enough to send a note to the IRS? Having to prove you did not sell your 317,000 bitcoins at $29 would be good exercise for mcshite. :lol:fizzit said:I wonder if our buddy knightmb still has his holdings in bitcoins...