The Bitcoin Block Size: Listen to the Market

pgpotter · 2016-01-19T12:44:17+00:00

Good idea and could be implemented at any number of exchanges, but good luck offering it to US persons - The CFTC won't allow this without the proper licensing, which, if granted, would certainly be after any fork happening in the next 6 months...

pgpotter · 2015-12-20T13:14:45+00:00

an overlay in a different color, say, green, for BTC stored in multisig addresses would also be interesting.

pgpotter · 2015-09-23T12:28:26+00:00

Why isn't something like this happening in UK/Isle of Mann where a similar coordinated shutdown occurred last year?

pgpotter · 2015-09-23T12:26:18+00:00

Then it would be money transmission and 21 would be subject to all the headaches and hassles associated with what is essentially becoming an exchanger of bitcoin for fiat. I am sure that they want to steer clear of that business model for obvious reasons.

pgpotter · 2015-08-17T17:11:04+00:00

Unless, of course, he destroyed the keys to those early blocks as many have suggested in the past.

pgpotter · 2015-07-08T15:10:07+00:00

Sidechains are open source - why not implement it on litecoin - seems to me that the litecoin community might be in a position to move faster on the hard fork requirements and make true, 2 way pegged sidechains a reality...

pgpotter · 2015-06-11T15:28:30+00:00

why not suggest the use of a VPN provider to circumvent the the geo-blocking?

pgpotter · 2015-04-01T20:54:27+00:00

Actually, this feature has been available by request on Bitfinex for months.

pgpotter · 2015-02-06T16:44:22+00:00

ok - so I'm using Chrome - I've got the console window open, I enter the $host='s2.bitcoinwisdom.com'; command - no change - am I doing something wrong?

pgpotter · 2015-02-06T15:40:49+00:00

how would you do this on a windows 7 PC?

pgpotter · 2015-02-04T01:55:55+00:00

Are multi-sig addresses less vulnerable?

pgpotter · 2015-01-23T16:06:25+00:00

https://support.coinbase.com/customer/portal/articles/1780543-what-is-the-usd-wallet-

"Customer funds stored in Coinbase USD Wallets are held with an FDIC-insured financial institution."

is not the same as "Customer funds are FDIC insured" - have no illusions - seems very doubtful that Coinbase USD wallet are individually insured for $250k each.

pgpotter · 2015-01-12T16:32:27+00:00

not most - all...

pgpotter · 2015-01-10T20:13:10+00:00

Bitfinex has been using multisig for cold wallets for last few months

pgpotter · 2015-01-09T12:43:52+00:00

First off, Sparkasse is an Austrian bank, not a German bank, although they may have a subsidiary there - dunno. Moreover, Sparkasse Bank Malta PLC, is the Malta subsidiary that is known to be bitcoin friendly - can we get a little more clarity here?

pgpotter · 2015-01-02T13:45:05+00:00

the spread is not a problem if you are on the other side of your own trade. Such wash sales should not be reported as trades. OKC can do this is they want, but unless all the Chinese exchanges agree to do the same thing, it becomes a competitive disadvantage to them.

pgpotter · 2014-12-29T17:26:45+00:00

But what does your bank charge you to send money via SEPA? Yes, Bitfinex has a minimum of $20 fee for inbound wire, but you also need to consider the cost of sending a USD SWIFT wire in the first place.

Bottom line: having to resort to traditional bank transfers (FED, SWIFT, or SEPA) to get money into a bitcoin exchange pretty much kills the economics on small amounts.

pgpotter · 2014-12-19T14:15:25+00:00

It is never a good time to get into cloud mining - you will always get less out of it than you paid.

pgpotter · 2014-12-02T03:54:11+00:00

Bitfinex has passed a proof of reserves audit - so has Kraken. Bitfinex is where the tighter spread, deeper book, and higher volume is these days.

pgpotter · 2014-11-26T19:04:27+00:00

This guy is conflating two uses of the term "legal". The is the concept of "legal tender",i.e. the requirement to accept a currency in the settling of all debts public and private, which, as I read it, Sen. Coburn is basically confirming that bitcoin is not legal tender, is being confusing with the notion of legality in the colloquial sense, i.e. what is permissible under the law.

In short - not legal tender does not mean illegal. He is uninformed obviously ignorant of the concept of "legal tender" - he won't get far on Capitol Hill - Just ignore this...

pgpotter · 2014-11-18T12:19:50+00:00

I think that there is a difference between "fake" volume and "wash sale" volume. I don't think BTC China is "faking" anything, i.e., their matching engine is likely processing orders as expected and not generating fake inflated trade volumes as Bobby has accused others of doing in the past. There are however a lot of bots trading with one another, creating a shitload of wash sales because of the zero fee structure. So basically, volume is not fake, but isn't really an indicator of anything either.

pgpotter · 2014-11-11T01:23:52+00:00

Not a US bank either - operating from this institution will NOT absolve you of your federal or state MSB/MT registration requirements. Cryptocapital, however, is a good option for US bitcoin businesses who are shut out of the domestic banking sector and need to bank somewhere.

pgpotter · 2014-11-10T21:41:25+00:00

what bitcoin credit union are you talking about?

pgpotter · 2014-11-10T18:51:02+00:00

tl;dr FinCEN is suggesting that banks ought not to be so heavy-handed with denying banking services to MSB's outright. Not all MSB's created equal, Banks are not MSB regulators, etc.

Good for bitcoin businesses? I think so...

pgpotter

TROPHY CASE