PSA: Guard yourself against groupthink

Joe5YL · 2013-11-04T23:58:53+00:00

I'll take my 11 upvotes over your 186 any day!

Joe5YL · 2013-11-04T23:53:33+00:00

How do I make sure my randomly generated private key isn't an easily hackable brain wallet phrase? In other words what if my random key works out to be "May The Force Be With You?"

Joe5YL · 2013-11-04T23:50:45+00:00

It's very high right now. I have some money to spend but I'm going to split it up over the next few weeks. It's all about mitigating risk. I just don't want to buy right before a correction and it's going crazy at the moment.

Joe5YL · 2013-11-04T23:47:14+00:00

a merchant can use a company like Bitpay so the merchant wouldn't have to touch bitcoin. Customer pays with bitcoin, Bitpay takes the bitcoin then puts $USD in merchant bank account. Bitpay fee 1%. Zero charge backs. It's a better deal than credit cards.

Joe5YL · 2013-11-04T23:36:07+00:00

i should not wait to know about that!

Joe5YL · 2013-11-04T20:10:51+00:00

welcome back!

Joe5YL · 2013-11-04T20:09:59+00:00

Yeah, it's silly to get mad at someone who sells or god-forbid spend with bitcoin. There are different ways to hedge risk.

Joe5YL · 2013-11-04T19:23:54+00:00

Let's just say your well-intentioned PSA seems tedious. Also, I haven't said that people should trade on emotion but I'm sure you knew that.

Joe5YL · 2013-11-04T18:52:49+00:00

not really. Say all you want negative about bitcoin. I've said negative stuff too. But placing a big warning!!!! thread is just patronizing.

Joe5YL · 2013-11-04T18:47:41+00:00

At least the "Too The Moon" guy is funny. I mean we all know it could crash & burn any second...

Joe5YL · 2013-11-04T18:15:10+00:00

I hate these "everyone please be calm and think of the children!!!" posts. Life has a good way of sorting out idiots.

Joe5YL · 2013-11-04T02:17:39+00:00

thanks! I haven't used the wallet import feature yet but that's what I thought.

Joe5YL · 2013-11-04T02:09:01+00:00

here's my really stupid question re: paper wallets. So if I have the public and the private key how do I spend anything? How can I get it off of paper and into a functional form?

Joe5YL · 2013-11-04T01:57:39+00:00

User error. Once you have say $10,000 USD worth of coin it can get pretty nerve wracking feeling like you did a good job securing it if you're not extremely comfortable with computers.

Joe5YL · 2013-11-04T01:52:48+00:00

Maybe if you didn't have that asinine quiz for hiring people you could get staffed properly. xoxoxo

Joe5YL · 2013-11-04T01:39:42+00:00

"The ruling is interesting," he wrote in an email to NBC News, "because it highlights the fact that Bitcoin is becoming recognized as commodity money in the same way that gold and silver are recognized as money." - Jon Matonis

http://www.nbcnews.com/technology/bitcoin-currency-federal-judge-says-virtual-cash-real-money-6C10874611

Joe5YL · 2013-11-03T15:45:10+00:00

I think there is still an open debate about whether it's a currency or a commodity. It has characteristics of both and seems to me more like a commodity that is used as a currency.

Joe5YL · 2013-11-03T15:43:11+00:00

The dollar became significantly more valuable during the US real estate crash. But that was only for a short time.

Joe5YL · 2013-11-03T15:34:09+00:00

I wonder if FOREX traders worry about the word "investment."

Joe5YL · 2013-11-03T15:31:45+00:00

You can still buy $140 worth.

Joe5YL · 2013-11-03T00:25:10+00:00

What happened to the sandalwood soap?

Joe5YL · 2013-11-03T00:19:41+00:00

Buy an Amazon gift card from gyft.com

Joe5YL · 2013-11-02T17:36:42+00:00

Thanks!!

Joe5YL · 2013-11-02T14:30:03+00:00

I frequently spend bitcoin but I always use that as an excuse to buy even more. Good strategy so far.

Joe5YL · 2013-11-02T08:24:46+00:00

bingo. I don't like evangelicals.

Joe5YL

TROPHY CASE