Bitcoin Bites: Germany recognizes digital currency as 'private money'



Bitcoin is slowly joining the big league of currencies. Germany has become the first country to accept the digital money as legal tender - recognized in law and for tax purposes. Katie Pilbeam from RT's Venture Capital program explains. Read More: http://on.rt.com/qeptyy RT LIVE http://rt.com/on-air Subscribe to RT! http://www.youtube.com/subscription_center?add_user=RussiaToday Like us on Facebook http://www.facebook.com/RTnews Follow us on Twitter http://twitter.com/RT_com Follow us on Instagram http://instagram.com/rt Follow us on Google+ http://plus.google.com/+RT RT (Russia Today) is a global news network broadcasting from Moscow and Washington studios. RT is the first news channel to break the 1 billion YouTube views benchmark.

Comments

  1. Bitcoin reached $600 plus
  2. Hi! Have you tried - Brians Bitcoin Big Bang (do a Google search)? Should you be contemplating making money with Bitcoin, Ive heard some incredible things about it and my brother-in-law got amazing rewards with it.
  3. Hey hey! Have you heard about - Brians Bitcoin Big Bang (do a search on google)? In case you are seriously interested in making money with Bitcoin, Ive heard some amazing things about it and my buddy got cool results with it. 
  4. feds telling germany to take a hike, on gold audit. Cyprus having to sell off the gold, germany spearheading the bitcoin movement with the endorsement of the feds. and the other day a major university in Cyprus taking payment in bitocin. I see some kind of back room deal with Germany Cyprus gold and the feds. trying to connect the dot.... 
  5. It doesn't track who or for what so how useful is it for the NWO?
  6. Nothing but there is a limited supply of Bitcoin as opposed to the endless supply of government fiat money. & you can lock it to a physical object if you want too by printing the code this takes it out of digital circulation.
  7. will do. thanks for the heads-up
  8. The seed can be used to create infinite number of addresses to send money to/from. Just ass 1, 2, 3... to the end of the brainwallet. So yes. Bad password protected addresses can be cracked. PCs with trojans monitoring keystrokes have been known to steal passwords for coins, too. That's where the multi-sig comes in: You send from your PC, and confirm from your phone, or from a 3rd party service. Then even if PC is cracked, coins can't be spent.
  9. Yes, that is in fact what I am saying. "Here, this is all the bitcoins I have!" "Do you have any more?" "No, I swear" end of story. No, you can't decrypt a phone. You can only open access to parts of it with a password. Parts you are willing to disclose exist. And are we talking about a robber here, or a kidnapper who holds you hostage for hours for the measly $50 you might have on your phone? Get real. No robber would do that, and kidnappers would know people's wealth is secured elsewhere.
  10. ah. I didn't know what exactly was a brainwallet, I thought you had to memorize the private key. so if I understand correctly that seed can be used indefinitely to make any number of transactions, correct? if so, then that is the secure way, AFAIK; unless the answers to my comment before this one about decrypting and searching ones phone are negative. then one could also store addresses in phones without fear of someone stealing them. is there anyway that crackers can crack addresses on PCs?
  11. So you're saying there is no way for someone with access to your phone for some minutes and access to you for some seconds could neither force you to reveal all address on it nor hack/brute-force attack the phone to retrieve them? So he cannot force you to decrypt all encrypted data on it in under a minute, and then search and find all the addresses with another (powerful enough) computer in under an hour? Or search for the location of all addresses on your phone and force you to decrypt those?
  12. Brainwallet doesn't require you to remember a 164 character private key. Just a seed that is used to generate that key. Can you remember 10 words, some pattern of characters between them, and a phone number/someone's birthdate/your social security number? Then you can remember a brainwallet. For example: here)horse*crunch^this$BANANA@443-222-2222 is a perfectly fine brainwallet. Though I would suggest more words to be more secure.
  13. How would he know that there are more if they are hidden? Would the thief basically continue to threaten me until the end of time, with me continuing to say, "no, there aren't any more?" No, he wouldn't be able to find them on the phone. That's what hidden means. Sure, he can take the phone, and start looking for them, but by the time he finds anything, I would have already gotten home, and sent the coins elsewhere. I have backups of my phone addresses.
  14. Hmm, I guess you're right. The new version of bitcoin software will have merchant options that would require you to sign a transaction, but send the signed transaction to the merchant before *they* verify and broadcast it, instead of you signing and verifying, just to make sure it's legit, but I guess the thief can just use the same service. So, lesson is, don't carry all your coins with you, and split them into small hidden wallets.
  15. the hidden ones? how are they hidden? can he not force you to show him all the hidden ones? is there no way to search the phone for all addresses? is there no way to make readable all encrypted data on a phone? if the answer to any of these questions is yes then he can take all contents of all wallets you have on your phone. and brainwallet, sure that works, but the number of people that (can) do that is negligible for the sake of this discussion.
  16. if you can do that, then you could do that with any purchase! as with any purchase the seller will confirm that he has gotten your money before handing over the product. same with the thief, he will confirm in the same way that he has received your money. It's the same thing! it's just like any transaction with a voluntary trade! the fact that after all this discussion you still haven't understood this part makes me doubt that you really do know what the hell your talking about.
  17. Thank you. That will spare me from dealing with your idiocy in turn. I've been involved with bitcoin since CPU mining, have mined, traded, helped with development, closely followed businesses, and keept in touch with top people for years. I also have a master's in business finance and econ. So one would think I knew what the hell I was talking about. But some people are too stuck in their own wishful thinking and ignorance to learn anything new, or consider the opinions of others. And that's ok.
  18. Sure. I can make the call, and I can tell them to send money in a way that lets them know I'm in trouble. Then the money can be sent in an invalid transaction that shows up but will never be included in a blockchain. The only way to find that out is to actually read through the transaction script. Really, I'm not saying that thieves can't rob you, just that it's way more difficult, and they won't be able to take much.
  19. He asks, I say, "Nope, that's all I had." He won't find anything if he searches me. He can take my phone, but he would only see the active address, not the hidden ones. Plus the phone is encrypted, and soon as he turns it off, it's useless to him. And yes, I can carry coins in my head by memorizing a key. It's called a Brainwallet.
  20. and both of these other replies are so full of ignorance, prejudice, and outright idiocy, that I cannot be bothered to address them.


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Visibility: 12317

Duration: 2m 54s

Rating: 275