That is the type of news you want inside information on. Right now I don't see much else on the horizon that would really push the price again. The rumor of this was a big part of the push to $200+ but it has gone pretty silent after that.

sorry to bomb this thread with a stupid questions, guys, but..

When I buy something with btc on some site, does the transaction (and purchase) goes immediately? or does it takes some time for btc to go to the seller's wallet? I just heard in chat at btc-e that it takes some time (from minutes to hour???) to complete at btc transaction? is this true? if so, why is it so??

It happens right away. It takes some time to be confirmed on the blockchain. The more confirmations, the more 'solid' the transaction is. I think after like 6 confirmations, it's basically a lock.

thx fish.

also wanted to ask about the wallet back up. basically I save backup wallet file somewhere on flash card and I can use my btc wallet without it now? I don't get how it works, what if I save my wallet on flash when I had 1 btc for example, then I go end spend 0.5 btc, after that I plug in my wallet backup file on flash again which was saved when I still had 1btc? How does it works? or should I only conduct transfers when my flash card is plugged in?

Somebody else is gonna have to answer that. I have wallets on flashes i never spend, and transfer to coinbase for playing around money

Im pretty sure ur/were just backing up our wallet "Keys" and all that other info.

What we spend doesnt matter.Thats all on/in blockchain.

Wondering what everyone thinks will happen with price after volume picks up. You guys think it's going down or up?

Have bitcoins 5
Want pokerstars(timoshi), netusd, etc

vig 4%, large trade history, thx pm me

wrong thread

The wallets never know how many coins they have. They only can look at the blockchain and figure out how many they have access to spending. So you could take a paper wallet or offline wallet or flash drive, put it in a computer that's not even on the internet, create a transaction (and on that computer, you cannot even determine how many coins that wallet has!), send only the tranaction, and the balance of the wallet has changed.

Selling 4 BTC for Skrill Euro. 4% vig

is it ok with skrill rules?

I was trying to explain to a friend how offline wallets work using this type of explanation and failed pretty hard. I will search for a better explanation. If anyone knows of one, please post it here. Perhaps I will update the wiki when I find it, because the current explanation isn't good. People have this idea that the coins must be downloaded into the wallet in order for the ownership to be transferred, which is logical since we are calling it a wallet and that is how physical wallets work.

https://en.bitcoin.it/wiki/FAQ

EDIT: Here are some explanations by other people. I am still not convinced these are simple enough.

-- Peter Lambert
https://bitcointalk.org/index.php?topic=138853.0

-- CIYAM Open
https://bitcointalk.org/index.php?topic=125600.0

what is paper wallet? O_O

there is a wiki for FAQ you know

https://en.bitcoin.it/wiki/Cold_storage

no, but how would they find out if it is p2p transfer

Picture every single bitcoin address as a bunch of glass piggy banks that everyone can see. Anyone can put money into a piggy bank, but only the person with the correct key is able to open up a piggy bank.

The wallet is the key. It doesn't matter where you store it, but if it's lost or stolen then the piggy bank is either locked forever or available to whomever stole the key.

Paper wallets are a way to store these private keys to the piggy bank without putting them on a computer. You will be able to use the printed private key on the paper to unlock to piggy bank.

Pretty much this, or actually even less. I'd concentrate on wallets having the keys to the accounts rather than containing the accounts themselves. It isn't as if that's going to give them the whole picture, but realistically understanding how Bitcoin works is going to require them learning much more than they're willing to learn. A paper wallet is just storing the keys on paper instead of a computer. Again, it isn't the whole picture but it's enough to get the main point across.

i check most of my sports news on yahoo, and just saw this article posted on there:

http://sports.yahoo.com/news/bitcoin...161411695.html

obviously just a quick piece without much research, demonstrated by overstating the anonymity aspect. however nice to see nonetheless on a very major news outlet

I like to think of bitcoins as public p2p bank database/ledger. So when you sign up for a bitcoin wallet you get 100 bank accounts each with a unique password. A paper wallet is just a printout of one of your bank account's password and account number.

actually, i'm pretty sure that bitcoin addresses are tied to wallets. i read that if you know one address, you can find other addresses that are part of that wallet?

So, just got this in my email today:

"As of 12:13 PM on 5/14/2013:

You’re receiving this notice because our systems have indicated that you’ve processed and completed a real-time Dwolla-to-Dwolla payment to Mutum Sigillum LLC (“Mt. Gox”) within the last 24 hours.

Due to recent court orders received from the Department of Homeland Security and U.S. District Court for the District of Maryland, Dwolla is no longer legally able to service Mutum Sigillum LLC’s account.

This is a courtesy email encouraging you to follow up on any uncompleted orders with Mutum Sigillum LLC as Dwolla is now unable to move money to and from Mutum Sigillum LLC’s Dwolla account.

Dwolla is not party to this matter nor does it have any information or further insight into the situation. We strongly encourages those with questions to contact Mutum Sigillum LLC

Note: Dwolla requires a court order before honoring requests such as seizing funds or revoking access to an account.

On behalf of Dwolla, we apologize for this inconvenience."

Sort of. This is what taint analysis is on a blockchain.info. It's really just checking addresses that have sent coins between each other often and are likely to belong to the same person. This is my understanding of it anyways.

http://blockchain.info/taint/1933phf...vqCn32k2buXY8a

A wallet is just a collection of bitcoin addresses. 100 in the standard client I believe. Other clients like the armory client have multiple wallets to try and avoid this problem I think, but I've never used it before.

Hey all,

I recently started to invest in bitcoins. Since they may be considered a real currency in the near future, do you think I will be liable to pay tax on my investment gains in bitcoins?