Whatever happened to the 10X reduction in transaction fees? I'm still paying $.06 a transaction. If we want this to be of use to the poor, this is something that needs to be fixed. by itsgremlin in Bitcoin

[–]goldcakes 0 points1 point  (0 children)

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Absolutely not. If everyone stopped paying 0.0001 and started paying 0.0001, what do you think will happen? Miners will rather get 0 instead of 0.00001? No, they'll have to include the lower amount because that's still better than nothing.

Whatever happened to the 10X reduction in transaction fees? I'm still paying $.06 a transaction. If we want this to be of use to the poor, this is something that needs to be fixed. by itsgremlin in Bitcoin

[–]goldcakes 7 points8 points  (0 children)

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You don't have to pay this $0.06. I generally pay 0.00001, and they all get confirmed very quickly.

When I create a mental image in my head, what is going on in the brain to allow that? by IngeniousTom in askscience

[–]goldcakes 0 points1 point  (0 children)

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How do you create a mental image in my head? I don't think I've ever been able to do so.

Brandis prepares to send in the copyright police: by drrimmer in australia

[–]goldcakes 0 points1 point  (0 children)

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Tons of people, me included, use Steam with a VPN. VPN usage is common.

Only thing is for games where I want low ping (eg FPSes) I'll disable my VPN. I used to use Golden Frog which had a really fast Australian server, and my ping only increased from ~50 to ~60.

Brandis prepares to send in the copyright police: by drrimmer in australia

[–]goldcakes 0 points1 point  (0 children)

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Why? I use a VPN all the time.

Coinbase is saying I have to link a bank account to send bitcoins to another Bitcoin address. by burlow44 in Bitcoin

[–]goldcakes 1 point2 points  (0 children)

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What, OP isn't trolling. Pm me your email and I forward you my 10+ email exchange with coinbase. On my phone so not easy to screenshot.

PSA: Don't fall prey to Herd Behaviour and other biases on this subreddit by Gloomfrost in Bitcoin

[–]goldcakes 0 points1 point  (0 children)

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Which company am I from? I work in the video game industry.

Coinbase is saying I have to link a bank account to send bitcoins to another Bitcoin address. by burlow44 in Bitcoin

[–]goldcakes 28 points29 points  (0 children)

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The same thing happened to me like three months ago, it's not new.

I complained on bitcointalk/facebook/twitter and they sent it back to the address it came from, and closed my account. I don't use Coinbase anymore, for obvious reasons, and disrecommend it as a wallet to everyone.

Please, don't use Coinbase as a wallet (especially with coming regulations that regulate hosted wallets, but can never regulate your local wallets). Use Multibit/Electrum/Bitcoin-Core.

The ICFP Programming Contest starts Friday 12:00 UTC, get ready! by dcoutts in programming

[–]goldcakes 0 points1 point  (0 children)

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Anyone want to work together as a team?

PSA: Don't fall prey to Herd Behaviour and other biases on this subreddit by Gloomfrost in Bitcoin

[–]goldcakes -3 points-2 points  (0 children)

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Absolutely. One of the things that the subreddit mods unfortunately can't do anything about is botted upvote/downvotes, which is heavily visible for certain offerings like Coinkite that engage in vote botting. Don't look at how many votes something have and assume it's good - it's being abused everyday.

One of the blatant examples regarding coinkite vote botting is that they've had a thread deleted by the mods (after they got caught), but anti-Coinkite comments in that thread kept getting downvotesdespite the thread no longer being visible.

Only people who directly visits the URL could downvote, and there's no way a dozen people did that and only downvoted a single comment - one calling them out on vote manipulation. It went from +5 to -7. It was +5 when it the post was deleted.

Circle has still not responded to Peter Todd about whether they are implementing censorship or surveillance technology by genjix in Bitcoin

[–]goldcakes 1 point2 points  (0 children)

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And that crime is already covered fully in facilitating terrorism.

I honestly don't care about many laws put around Bitcoin. The funny thing is I'm your average American next door neighbor. by [deleted] in Bitcoin

[–]goldcakes -1 points0 points  (0 children)

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Universal healthcare.

Coinkite Has an Onion for Tor by rnvk in Bitcoin

[–]goldcakes 1 point2 points  (0 children)

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No. Coinkite is just a Web wallet. It is not safe, and you shouldn't use hosted wallets at all.

Coinkite Has an Onion for Tor by rnvk in Bitcoin

[–]goldcakes 3 points4 points  (0 children)

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Don't be. Run Electrum or Multi bit over Tor. Don't use a Web wallet a day get goxxed / bitcoinica'd / et.

Circle has still not responded to Peter Todd about whether they are implementing censorship or surveillance technology by genjix in Bitcoin

[–]goldcakes 2 points3 points  (0 children)

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Funding terrorism is already a crime, distinct from 'money laubdering'

Xapo, 4-digit pin and email to access my wallet? Really? by oleganza in Bitcoin

[–]goldcakes -1 points0 points  (0 children)

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Remember: Xapo is not a wallet. It is a uninsured bank. A wallet is something you hold the private keys to.

What's going on here? Paypal SSL certificate issued to Bitpay.com by ThomasGullen in Bitcoin

[–]goldcakes 4 points5 points  (0 children)

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When I first read this post, I thought Bitpay was serving a paypal SSL certificate and thought "well looks like paypal just acquired bitpay!"

EG. Mason done with competitive dota by Mrkemiz in DotA2

[–]goldcakes 0 points1 point  (0 children)

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He was streaming on twitch for hours.

Apple installed security backdoors on 600 million iPhones, iPads: Researcher by frugaltown in privacy

[–]goldcakes 9 points10 points  (0 children)

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Undocumented protocols that are not used by Apple techs (this is completely undocumented, no mention in our knowledgebase).

The Secret Agent keeps telling me "your web surfing may be subject to surveillance" by [deleted] in privacy

[–]goldcakes 0 points1 point  (0 children)

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I don't mean open source just as in you can view the source code. Heck, if you are an enterprise customer you can get the source of Windows. Open source means much more - like collaboration, forking, and continuing in the case of NSLs like truecrypt

The Secret Agent keeps telling me "your web surfing may be subject to surveillance" by [deleted] in privacy

[–]goldcakes 1 point2 points  (0 children)

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No source code..

I need help - CryptoWall virus infected my client's law firm. I need some bitcoins... by thechaosrealm in Bitcoin

[–]goldcakes 3 points4 points  (0 children)

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This virus is actually real. Unless you have backups, you must pay or your files are dead.

Just tried the Bitcoin ATM in South Brisbane... by xbtdev in Bitcoin

[–]goldcakes -11 points-10 points  (0 children)

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No longer interested since you support crapcoins.

StackOverflow Update: 560M Pageviews a Month, 25 Servers, and It's All About Performance by Historical_Fiction in programming

[–]goldcakes 2 points3 points  (0 children)

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This article is quite conflicting. What do they actually do?

I will continue to remove Non-Bitcoin related news from this subreddit. by frankenmint in Bitcoin

[–]goldcakes 0 points1 point  (0 children)

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R. Starr, "Existence and uniqueness of ‘money’ in general equilibrium: natural monopoly in the most liquid asset "

http://econweb.ucsd.edu/~rstarr/buchstarapril.pdf

Extract from conclusion:

"Money (the common medium of exchange) arises endogenously as the most liquid (lowest transaction cost) asset"

Note that "transaction cost" is not only the monetary fees, but also cost in the economic sense, including opportunity cost and all risks.

In the context of cryptocurrency, "transaction cost" involves the general adoption (as having to exchange the currency for another brings counterparty risk), network spending / double sending risks (in this context we can simplify risk to cost), etc.

Further reading for you: demand-side economies of scale, which is significant in money.

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