Randall gets a 150BTC donation!

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Randall gets a 150BTC donation!

Postby waitingforpizza » Sat Jan 26, 2013 11:46 am UTC

holy crap.

Randall's bitcoin donation address: blockchain.info/address/14FHqYSgAi39CEJksUJJsK8JzJzyqFpLVk

So either randall bought some bitcoins, or someone very generous donated...
I was talking in the #bitcoin irc room about how he accepted bitcoin donations and how I made a 0.4BTC doanation. shortly after just by chance I see the 150BTC transaction go through on blockchain.info
Damn. Thats like $2500

You deserve it Randall!
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Re: Randall gets a 150BTC donation!

Postby Weeks » Fri Feb 01, 2013 2:38 pm UTC

I heard bitcoins are like fantasy money
skitells is...really good
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Re: Randall gets a 150BTC donation!

Postby SecondTalon » Fri Feb 01, 2013 4:06 pm UTC

They're a manufactured currency. They have a value, but as the legal market where you can spend them is still pretty limited, the value they have is more like the value of a comic book or baseball card - you can say it's worth X on paper, but it's only really worth what you can sell it for.

Black markets, though? Bitcoins are a new way of doing untraceable business.
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Re: Randall gets a 150BTC donation!

Postby Menacing Spike » Fri Feb 01, 2013 4:28 pm UTC

I wonder what very illegal purposes Mr Munroe may have in mind.

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Re: Randall gets a 150BTC donation!

Postby SecondTalon » Fri Feb 01, 2013 4:34 pm UTC

Probably none? It's a monetary system developed by computer nerds. So.. naturally, it'll appeal to Randall.

...

I think I have, like... .4 bitcoins or something.
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Re: Randall gets a 150BTC donation!

Postby Роберт » Fri Feb 01, 2013 6:11 pm UTC

I kind of wonder if that's his really bitcoin address, or if someone claimed it was to get other people to donate money to that bitcoin address. Is there a good way to verify whether that's real?
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Re: Randall gets a 150BTC donation!

Postby SecondTalon » Fri Feb 01, 2013 6:42 pm UTC

Yes.

Or it verifies that it's Randall or davean, at least. Someone associated with xkcd.


http://xkcd.com/bitcoin/
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Re: Randall gets a 150BTC donation!

Postby Yakk » Fri Feb 01, 2013 7:00 pm UTC

SecondTalon wrote:Black markets, though? Bitcoins are a new way of doing untraceable business.

I was under the impression that all Bitcoin transactions where logged by their very nature?
Privacy

Because transactions are broadcast to the entire network, they are inherently public. Unlike regular banking,[61] which preserves customer privacy by keeping transaction records private, loose transactional privacy is accomplished in bitcoin by using many unique addresses for every wallet, while at the same time publishing all transactions. As an example, if Alice sends 123.45 BTC to Bob, the network creates a public record that allows anyone to see that 123.45 has been sent from one address to another. However, unless Alice or Bob make their ownership of these addresses known, it is difficult for anyone else to connect the transaction with them. However, if someone connects an address to a user at any point they could follow back a series of transactions as each participant likely knows who paid them and may disclose that information on request or under duress.

It can be difficult to associate bitcoin identities with real-life identities.[62] This property makes Bitcoin transactions attractive to sellers of illegal products,[63][64] although many Bitcoin experts criticise such usage as "dumb".[65]

Ya, no, not untraceable.
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Re: Randall gets a 150BTC donation!

Postby SecondTalon » Fri Feb 01, 2013 9:55 pm UTC

It can be difficult to associate bitcoin identities with real-life identities


You know LkjG(*&y32kh2678yg897yfd8s7by got 200 bitcoins from 389364598612789bb897fdwhweinhuowrbniu

The fuck does that tell you?
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Re: Randall gets a 150BTC donation!

Postby Yakk » Sat Feb 02, 2013 1:22 pm UTC

Completely public transactions of the entire network? Then plenty. You could probably produce "clusters" of different kinds of users, and figure out which user is associated with what wallets, without even stepping outside of analyzing that network. Throw in a bit of intelligence on external-to-bitcoin money is going, and I'd trust the anonymization only a bit more than a credit card.

I mean, odds are you bought your bitcoins via credit card payment. And then maybe did some random trading back and forth with some bitcoin remixer in a pattern that is easy to detect. Then you traded those bitcoins to some other wallet that is part of the "drug dealer" cluster of bitcoin wallets over there. With everything recorded, why would it be fundamentally any harder to decode than "give your money to A, B then gives you drugs at the other corner"?
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Re: Randall gets a 150BTC donation!

Postby Ptolom » Mon Feb 04, 2013 12:59 am UTC

There are anonymising "laundries". A relatively trustworthy site takes bitcoins from people until they have a significant number of different customers. Everyone is then paid back using randomly selected coins from the pool.
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Re: Randall gets a 150BTC donation!

Postby Zamfir » Mon Feb 04, 2013 6:56 am UTC

That would work against individuals who are snooping what their former coins are spent on, but would it do much against a government that uses some fairly serious resources to analyse the network? For them, it's just extra information to statistically link different addresses. If an address sends money to the laundry, then some of the payout addresses of the launderer in the near future must belong to the same owner. With enough such events, they will eventually figure out which addresses belong together.

But let's assume that there are indeed third parties that are secure enough that you can route your transactions through them, reliable enough that they won't steal or snoop, large enough that its incoming and outgoing transactions cannot be matched by outsiders, and sheltered enough that governments cannot demand to see their records.

If so, what's the point of using bitcoins? Why not simply send money to this third party, and tell them to pass the money on to your heroin supplier?
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Re: Randall gets a 150BTC donation!

Postby Sero » Mon Feb 04, 2013 5:04 pm UTC

Convenience? Sending money digitally is a lot less hassle than physically sending cash to someone.
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Re: Randall gets a 150BTC donation!

Postby dudiobugtron » Mon Feb 04, 2013 7:56 pm UTC

Sero wrote:Convenience? Sending money digitally is a lot less hassle than physically sending cash to someone.

You can send money digitally without using Bitcoins.
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