Checking out Coindesk, seems Texas' recent memorandum on bitcoin exchanges sets good precedence for those who want operate an exchange or ATM.

Pretty much Texas defines the selling of bitcoin via an exchange or p2p does not make that enity or person a money transmitter. Said persons or entities are sellers of a good/commodity.

People have been arrested in FL for selling bitcoin and had been charged as an unlicensed money transmitter.

IRS guidelines on bitcoin help in this also.

Pretty good read. Check it out.

bitcoins eh?

just not sure we all understand

Thought i'd copy/paste this here:

A bunch of poker players trying to explain to Nash why his formula won't work

guys. I've made a backup of encrypted wallet long time ago. and I'm keeping it. it doesn't mattel how long I don't use coins on that encrypted wallet, right? I even can open it in a couple of years using my password, right?

I'm asking, because I remember someone was telling that you need to make another backup of encrypted wallet every 100 days or something like that. it's not true, right?

just a bit worried, thx

You don't need to do it every 100 days if you aren't using it. If you are using it, then it depends on what wallet you are using.

using standard wallet. I barely use coins. made a couple of transactions on a very small amounts, in last three month or something. like $100 in total. thx for helping out!

What's going on with this trezor thing. Seems like a very easy solution to the whole security problems. I can't seem to buy one anywhere..?

Any idea of the price and if they're available yet?

dude, you're fine. its got nothing to do with 100 days... (but rather that the software automatically creates 100 addressess in the background.

just dont forget your password.

I bought 40$ worth of dogecoins...

haha

They were available for pre-order last year. The cost was 1 bitcoin. The project was delayed and pre-orders are only now being delivered. Probably another few weeks at least before they deliver all the pre-orders and start selling to general public. Presumably the price will be a lot cheaper than a bitcoin now.

Actually, the preoders for the expensive ones (3 BTC) are being delivered, but the plastic ones (1 BTC) are having even more delays in manufacturing. Could be a while. Cool product, but once again - do not ever preorder something in Bitcoins from a new business.

http://m.youtube.com/watch?v=NV5ubkGQUes

I think it's been posted already, but more people should listen when this guy speaks.

Looking to buy a large amount of bitcoins but really don't trust myself in securing them properly. It seems so complicated having to devote an offline laptop or do all of the removal of the hardrive and all that stuff. I'm confident I'd mess something up.

So what's the best option for me? Any kind of advice other than growing some balls and doing it would be appreciated!

I don't really want to wait until trezor comes out either, looking to buy extremely soon.

Ty for this. Was great.

I haven't used it, but this looks a decent option to me. https://www.bitgo.com/

I think multi-signature wallets are going to become the standard method of security in the future.

^ site looks pretty slick. i just signed up and messed around a bit.

i'm still a bit hesitant i suppose and i will continue to store the bulk of my coins with my own encrypted backups. for the past few years i've been putting quite a bit of effort to securely using and storing my btc in the more tangible ways in know.

However, this is indeed the future of security and the path to user-friendly platforms if implemented correctly. i sure hope these tools turn out to be the bombadizzle and i'll start trying them out and they come online from reputable sources.

Great video, thanks.

thx!

Although I hate posting in this thread, I do feel the need to at least provide the best in class solution to this that most people don't seem to recommend here. I own one of these: http://www.amazon.com/gp/product/B00...?ie=UTF8&psc=1

It's one of the most secure if not the most secure types of flash drives in existence (you can go up the layers and find more secure ones from IronKey, and even hard drives, though they get even more expensive.) Create a very long difficult password on the IronKey (say 32 characters with upper and lower case alphanumerics and symbols) and write this down/store it on some devices (mine is memorized and written down.) Buy your coins and transfer them to a wallet setup on an offline laptop to which you can then transfer the keys to the USB drive. Store the USB drive in a cheap safety deposit box at your local bank (should be like $25/yr for the smallest one.) This is impenetrable unless you lose your ironkey password somehow, but you can store this in multiple places on multiple devices and on paper since it will be useless to anyone without physical access to your USB device.

USB is a bit dangerous in that they aren't meant to last forever and can easily be damaged. Make sure you have at least 2 of these, and check on them enough to know if one broke. This is the advantage of paper wallets.

Paper and treat the paper like cash.

BIP-38 encrypted paper wallets are hard to beat. Make multiple copies, save PDFs to the cloud, whatever. Keep the password safe and you never have to worry about technical difficulties associated with USB/offline computers/HD's.

The problem with these is must spend all at once or lose the money in some inaccessible change wallet.
But yes, they are still good.

When we had all our Bitcoin, we created a KeyPass file with a good password. The KeyPass had our public address and PK which were generated from Coinbase's paper wallet function. We then kept the KeyPass file on DropBox. We then kept a copy of the KeyPass file on a local machine. That's all, seemed to work fine for us and even if DropBox is compromised it's secure as long as your KeyPass file password is good.

Alternatively, I recently bought a bunch of Bitcoin on eToro who supply a Bitcoin CFD. Although you don't have them in your control, the fees are cheapish (1% each way seems fine for something so volatile and which I plan to hold medium-long term). It feels a lot less pressured to me now. Moving the bitcoins back online and transfering them to the exchange to sell was a really uncomfortable and nerve wracking experience. I prefer E-toro now if you're purely looking to speculate on price and don't plan on doing anything else with them. Here in the UK they appear to be regulated by the FSA which is good:

http://www.etoro.com/en/customer-ser...ation-license/

And they seem bigish enough where if they did lose everyones Bitcoins there's a good chance they'd be able to make good of it:

http://en.wikipedia.org/wiki/EToro

(At least better chance than a new company who's sole business activity is Bitcoin related).