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6 <title>Petter Reinholdtsen: Entries Tagged bitcoin</title>
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13 <h1>
14 <a href="http://people.skolelinux.org/pere/blog/">Petter Reinholdtsen</a>
15
16 </h1>
17
18 </div>
19
20
21 <h3>Entries tagged "bitcoin".</h3>
22
23 <div class="entry">
24 <div class="title">
25 <a href="http://people.skolelinux.org/pere/blog/The_European_Central_Bank__ECB__take_a_look_at_bitcoin.html">The European Central Bank (ECB) take a look at bitcoin</a>
26 </div>
27 <div class="date">
28 4th November 2012
29 </div>
30 <div class="body">
31 <p>Slashdot just ran a story about the European Central Bank (ECB)
32 <a href="http://www.ecb.europa.eu/pub/pdf/other/virtualcurrencyschemes201210en.pdf">releasing
33 a report (PDF)</a> about virtual currencies and
34 <a href="http://www.bitcoin.org/">bitcoin</a>. It is interesting to
35 see how a member of the bitcoin community
36 <a href="http://blog.bitinstant.com/blog/2012/10/30/the-ecb-report-on-bitcoin-and-virtual-currencies.html">receive
37 the report</a>. As for the future, I suspect the central banks and
38 the governments will outlaw bitcoin if it gain any popularity, to avoid
39 competition. My thoughts go to the
40 <a href="http://en.wikipedia.org/wiki/Wörgl">Wörgl experiment</a> with
41 negative inflation on cash which was such a success that it was
42 terminated by the Austrian National Bank in 1933. A successful
43 alternative would be a threat to the current money system and gain
44 powerful forces to work against it.</p>
45
46 <p>While checking out the current status of bitcoin, I also discovered
47 that the community already seem to have
48 <a href="http://www.theverge.com/2012/8/27/3271637/bitcoin-savings-trust-pyramid-scheme-shuts-down">experienced
49 its first pyramid game / Ponzi scheme</a>. Not very surprising, given
50 how members of "small" communities tend to trust each other. I guess
51 enterprising crocks will try again and again, as they do anywhere
52 wealth is available.</p>
53
54 </div>
55 <div class="tags">
56
57
58 Tags: <a href="http://people.skolelinux.org/pere/blog/tags/bitcoin">bitcoin</a>, <a href="http://people.skolelinux.org/pere/blog/tags/english">english</a>, <a href="http://people.skolelinux.org/pere/blog/tags/personvern">personvern</a>, <a href="http://people.skolelinux.org/pere/blog/tags/sikkerhet">sikkerhet</a>.
59
60
61 </div>
62 </div>
63 <div class="padding"></div>
64
65 <div class="entry">
66 <div class="title">
67 <a href="http://people.skolelinux.org/pere/blog/Some_thoughts_on_BitCoins.html">Some thoughts on BitCoins</a>
68 </div>
69 <div class="date">
70 11th December 2010
71 </div>
72 <div class="body">
73 <p>As I continue to explore
74 <a href="http://www.bitcoin.org/">BitCoin</a>, I've starting to wonder
75 what properties the system have, and how it will be affected by laws
76 and regulations here in Norway. Here are some random notes.</p>
77
78 <p>One interesting thing to note is that since the transactions are
79 verified using a peer to peer network, all details about a transaction
80 is known to everyone. This means that if a BitCoin address has been
81 published like I did with mine in my initial post about BitCoin, it is
82 possible for everyone to see how many BitCoins have been transfered to
83 that address. There is even a web service to look at the details for
84 all transactions. There I can see that my address
85 <a href="http://blockexplorer.com/address/15oWEoG9dUPovwmUL9KWAnYRtNJEkP1u1b">15oWEoG9dUPovwmUL9KWAnYRtNJEkP1u1b</a>
86 have received 16.06 Bitcoin, the
87 <a href="http://blockexplorer.com/address/1LfdGnGuWkpSJgbQySxxCWhv8MHqvwst3">1LfdGnGuWkpSJgbQySxxCWhv8MHqvwst3</a>
88 address of Simon Phipps have received 181.97 BitCoin and the address
89 <a href="http://blockexplorer.com/address/1MCwBbhNGp5hRm5rC1Aims2YFRe2SXPYKt">1MCwBbhNGp5hRm5rC1Aims2YFRe2SXPYKt</A>
90 of EFF have received 2447.38 BitCoins so far. Thank you to each and
91 every one of you that donated bitcoins to support my activity. The
92 fact that anyone can see how much money was transfered to a given
93 address make it more obvious why the BitCoin community recommend to
94 generate and hand out a new address for each transaction. I'm told
95 there is no way to track which addresses belong to a given person or
96 organisation without the person or organisation revealing it
97 themselves, as Simon, EFF and I have done.</p>
98
99 <p>In Norway, and in most other countries, there are laws and
100 regulations limiting how much money one can transfer across the border
101 without declaring it. There are money laundering, tax and accounting
102 laws and regulations I would expect to apply to the use of BitCoin.
103 If the Skolelinux foundation
104 (<a href="http://linuxiskolen.no/slxdebianlabs/donations.html">SLX
105 Debian Labs</a>) were to accept donations in BitCoin in addition to
106 normal bank transfers like EFF is doing, how should this be accounted?
107 Given that it is impossible to know if money can across the border or
108 not, should everything or nothing be declared? What exchange rate
109 should be used when calculating taxes? Would receivers have to pay
110 income tax if the foundation were to pay Skolelinux contributors in
111 BitCoin? I have no idea, but it would be interesting to know.</p>
112
113 <p>For a currency to be useful and successful, it must be trusted and
114 accepted by a lot of users. It must be possible to get easy access to
115 the currency (as a wage or using currency exchanges), and it must be
116 easy to spend it. At the moment BitCoin seem fairly easy to get
117 access to, but there are very few places to spend it. I am not really
118 a regular user of any of the vendor types currently accepting BitCoin,
119 so I wonder when my kind of shop would start accepting BitCoins. I
120 would like to buy electronics, travels and subway tickets, not herbs
121 and books. :) The currency is young, and this will improve over time
122 if it become popular, but I suspect regular banks will start to lobby
123 to get BitCoin declared illegal if it become popular. I'm sure they
124 will claim it is helping fund terrorism and money laundering (which
125 probably would be true, as is any currency in existence), but I
126 believe the problems should be solved elsewhere and not by blaming
127 currencies.</p>
128
129 <p>The process of creating new BitCoins is called mining, and it is
130 CPU intensive process that depend on a bit of luck as well (as one is
131 competing against all the other miners currently spending CPU cycles
132 to see which one get the next lump of cash). The "winner" get 50
133 BitCoin when this happen. Yesterday I came across the obvious way to
134 join forces to increase ones changes of getting at least some coins,
135 by coordinating the work on mining BitCoins across several machines
136 and people, and sharing the result if one is lucky and get the 50
137 BitCoins. Check out
138 <a href="http://www.bluishcoder.co.nz/bitcoin-pool/">BitCoin Pool</a>
139 if this sounds interesting. I have not had time to try to set up a
140 machine to participate there yet, but have seen that running on ones
141 own for a few days have not yield any BitCoins througth mining
142 yet.</p>
143
144 <p>Update 2010-12-15: Found an <a
145 href="http://inertia.posterous.com/reply-to-the-underground-economist-why-bitcoi">interesting
146 criticism</a> of bitcoin. Not quite sure how valid it is, but thought
147 it was interesting to read. The arguments presented seem to be
148 equally valid for gold, which was used as a currency for many years.</p>
149
150 </div>
151 <div class="tags">
152
153
154 Tags: <a href="http://people.skolelinux.org/pere/blog/tags/bitcoin">bitcoin</a>, <a href="http://people.skolelinux.org/pere/blog/tags/debian">debian</a>, <a href="http://people.skolelinux.org/pere/blog/tags/english">english</a>, <a href="http://people.skolelinux.org/pere/blog/tags/personvern">personvern</a>, <a href="http://people.skolelinux.org/pere/blog/tags/sikkerhet">sikkerhet</a>.
155
156
157 </div>
158 </div>
159 <div class="padding"></div>
160
161 <div class="entry">
162 <div class="title">
163 <a href="http://people.skolelinux.org/pere/blog/Now_accepting_bitcoins___anonymous_and_distributed_p2p_crypto_money.html">Now accepting bitcoins - anonymous and distributed p2p crypto-money</a>
164 </div>
165 <div class="date">
166 10th December 2010
167 </div>
168 <div class="body">
169 <p>With this weeks lawless
170 <a href="http://www.salon.com/news/opinion/glenn_greenwald/2010/12/06/wikileaks/index.html">governmental
171 attacks</a> on Wikileak and
172 <a href="http://www.salon.com/technology/dan_gillmor/2010/12/06/war_on_speech">free
173 speech</a>, it has become obvious that PayPal, visa and mastercard can
174 not be trusted to handle money transactions.
175 A blog post from
176 <a href="http://webmink.com/2010/12/06/now-accepting-bitcoin/">Simon
177 Phipps on bitcoin</a> reminded me about a project that a friend of
178 mine mentioned earlier. I decided to follow Simon's example, and get
179 involved with <a href="http://www.bitcoin.org/">BitCoin</a>. I got
180 some help from my friend to get it all running, and he even handed me
181 some bitcoins to get started. I even donated a few bitcoins to Simon
182 for helping me remember BitCoin.</p>
183
184 <p>So, what is bitcoins, you probably wonder? It is a digital
185 crypto-currency, decentralised and handled using peer-to-peer
186 networks. It allows anonymous transactions and prohibits central
187 control over the transactions, making it impossible for governments
188 and companies alike to block donations and other transactions. The
189 source is free software, and while the key dependency wxWidgets 2.9
190 for the graphical user interface is missing in Debian, the command
191 line client builds just fine. Hopefully Jonas
192 <a href="http://bugs.debian.org/578157">will get the package into
193 Debian</a> soon.</p>
194
195 <p>Bitcoins can be converted to other currencies, like USD and EUR.
196 There are <a href="http://www.bitcoin.org/trade">companies accepting
197 bitcoins</a> when selling services and goods, and there are even
198 currency "stock" markets where the exchange rate is decided. There
199 are not many users so far, but the concept seems promising. If you
200 want to get started and lack a friend with any bitcoins to spare,
201 you can even get
202 <a href="https://freebitcoins.appspot.com/">some for free</a> (0.05
203 bitcoin at the time of writing). Use
204 <a href="http://www.bitcoinwatch.com/">BitcoinWatch</a> to keep an eye
205 on the current exchange rates.</p>
206
207 <p>As an experiment, I have decided to set up bitcoind on one of my
208 machines. If you want to support my activity, please send Bitcoin
209 donations to the address
210 <b>15oWEoG9dUPovwmUL9KWAnYRtNJEkP1u1b</b>. Thank you!</p>
211
212 </div>
213 <div class="tags">
214
215
216 Tags: <a href="http://people.skolelinux.org/pere/blog/tags/bitcoin">bitcoin</a>, <a href="http://people.skolelinux.org/pere/blog/tags/debian">debian</a>, <a href="http://people.skolelinux.org/pere/blog/tags/english">english</a>, <a href="http://people.skolelinux.org/pere/blog/tags/personvern">personvern</a>, <a href="http://people.skolelinux.org/pere/blog/tags/sikkerhet">sikkerhet</a>.
217
218
219 </div>
220 </div>
221 <div class="padding"></div>
222
223 <p style="text-align: right;"><a href="bitcoin.rss"><img src="http://people.skolelinux.org/pere/blog/xml.gif" alt="RSS Feed" width="36" height="14" /></a></p>
224 <div id="sidebar">
225
226
227
228 <h2>Archive</h2>
229 <ul>
230
231 <li>2012
232 <ul>
233
234 <li><a href="http://people.skolelinux.org/pere/blog/archive/2012/01/">January (7)</a></li>
235
236 <li><a href="http://people.skolelinux.org/pere/blog/archive/2012/02/">February (10)</a></li>
237
238 <li><a href="http://people.skolelinux.org/pere/blog/archive/2012/03/">March (17)</a></li>
239
240 <li><a href="http://people.skolelinux.org/pere/blog/archive/2012/04/">April (12)</a></li>
241
242 <li><a href="http://people.skolelinux.org/pere/blog/archive/2012/05/">May (12)</a></li>
243
244 <li><a href="http://people.skolelinux.org/pere/blog/archive/2012/06/">June (20)</a></li>
245
246 <li><a href="http://people.skolelinux.org/pere/blog/archive/2012/07/">July (17)</a></li>
247
248 <li><a href="http://people.skolelinux.org/pere/blog/archive/2012/08/">August (6)</a></li>
249
250 <li><a href="http://people.skolelinux.org/pere/blog/archive/2012/09/">September (9)</a></li>
251
252 <li><a href="http://people.skolelinux.org/pere/blog/archive/2012/10/">October (17)</a></li>
253
254 <li><a href="http://people.skolelinux.org/pere/blog/archive/2012/11/">November (2)</a></li>
255
256 </ul></li>
257
258 <li>2011
259 <ul>
260
261 <li><a href="http://people.skolelinux.org/pere/blog/archive/2011/01/">January (16)</a></li>
262
263 <li><a href="http://people.skolelinux.org/pere/blog/archive/2011/02/">February (6)</a></li>
264
265 <li><a href="http://people.skolelinux.org/pere/blog/archive/2011/03/">March (6)</a></li>
266
267 <li><a href="http://people.skolelinux.org/pere/blog/archive/2011/04/">April (7)</a></li>
268
269 <li><a href="http://people.skolelinux.org/pere/blog/archive/2011/05/">May (3)</a></li>
270
271 <li><a href="http://people.skolelinux.org/pere/blog/archive/2011/06/">June (2)</a></li>
272
273 <li><a href="http://people.skolelinux.org/pere/blog/archive/2011/07/">July (7)</a></li>
274
275 <li><a href="http://people.skolelinux.org/pere/blog/archive/2011/08/">August (6)</a></li>
276
277 <li><a href="http://people.skolelinux.org/pere/blog/archive/2011/09/">September (4)</a></li>
278
279 <li><a href="http://people.skolelinux.org/pere/blog/archive/2011/10/">October (2)</a></li>
280
281 <li><a href="http://people.skolelinux.org/pere/blog/archive/2011/11/">November (3)</a></li>
282
283 <li><a href="http://people.skolelinux.org/pere/blog/archive/2011/12/">December (1)</a></li>
284
285 </ul></li>
286
287 <li>2010
288 <ul>
289
290 <li><a href="http://people.skolelinux.org/pere/blog/archive/2010/01/">January (2)</a></li>
291
292 <li><a href="http://people.skolelinux.org/pere/blog/archive/2010/02/">February (1)</a></li>
293
294 <li><a href="http://people.skolelinux.org/pere/blog/archive/2010/03/">March (3)</a></li>
295
296 <li><a href="http://people.skolelinux.org/pere/blog/archive/2010/04/">April (3)</a></li>
297
298 <li><a href="http://people.skolelinux.org/pere/blog/archive/2010/05/">May (9)</a></li>
299
300 <li><a href="http://people.skolelinux.org/pere/blog/archive/2010/06/">June (14)</a></li>
301
302 <li><a href="http://people.skolelinux.org/pere/blog/archive/2010/07/">July (12)</a></li>
303
304 <li><a href="http://people.skolelinux.org/pere/blog/archive/2010/08/">August (13)</a></li>
305
306 <li><a href="http://people.skolelinux.org/pere/blog/archive/2010/09/">September (7)</a></li>
307
308 <li><a href="http://people.skolelinux.org/pere/blog/archive/2010/10/">October (9)</a></li>
309
310 <li><a href="http://people.skolelinux.org/pere/blog/archive/2010/11/">November (13)</a></li>
311
312 <li><a href="http://people.skolelinux.org/pere/blog/archive/2010/12/">December (12)</a></li>
313
314 </ul></li>
315
316 <li>2009
317 <ul>
318
319 <li><a href="http://people.skolelinux.org/pere/blog/archive/2009/01/">January (8)</a></li>
320
321 <li><a href="http://people.skolelinux.org/pere/blog/archive/2009/02/">February (8)</a></li>
322
323 <li><a href="http://people.skolelinux.org/pere/blog/archive/2009/03/">March (12)</a></li>
324
325 <li><a href="http://people.skolelinux.org/pere/blog/archive/2009/04/">April (10)</a></li>
326
327 <li><a href="http://people.skolelinux.org/pere/blog/archive/2009/05/">May (9)</a></li>
328
329 <li><a href="http://people.skolelinux.org/pere/blog/archive/2009/06/">June (3)</a></li>
330
331 <li><a href="http://people.skolelinux.org/pere/blog/archive/2009/07/">July (4)</a></li>
332
333 <li><a href="http://people.skolelinux.org/pere/blog/archive/2009/08/">August (3)</a></li>
334
335 <li><a href="http://people.skolelinux.org/pere/blog/archive/2009/09/">September (1)</a></li>
336
337 <li><a href="http://people.skolelinux.org/pere/blog/archive/2009/10/">October (2)</a></li>
338
339 <li><a href="http://people.skolelinux.org/pere/blog/archive/2009/11/">November (3)</a></li>
340
341 <li><a href="http://people.skolelinux.org/pere/blog/archive/2009/12/">December (3)</a></li>
342
343 </ul></li>
344
345 <li>2008
346 <ul>
347
348 <li><a href="http://people.skolelinux.org/pere/blog/archive/2008/11/">November (5)</a></li>
349
350 <li><a href="http://people.skolelinux.org/pere/blog/archive/2008/12/">December (7)</a></li>
351
352 </ul></li>
353
354 </ul>
355
356
357
358 <h2>Tags</h2>
359 <ul>
360
361 <li><a href="http://people.skolelinux.org/pere/blog/tags/3d-printer">3d-printer (13)</a></li>
362
363 <li><a href="http://people.skolelinux.org/pere/blog/tags/amiga">amiga (1)</a></li>
364
365 <li><a href="http://people.skolelinux.org/pere/blog/tags/aros">aros (1)</a></li>
366
367 <li><a href="http://people.skolelinux.org/pere/blog/tags/bitcoin">bitcoin (3)</a></li>
368
369 <li><a href="http://people.skolelinux.org/pere/blog/tags/bootsystem">bootsystem (12)</a></li>
370
371 <li><a href="http://people.skolelinux.org/pere/blog/tags/bsa">bsa (2)</a></li>
372
373 <li><a href="http://people.skolelinux.org/pere/blog/tags/debian">debian (57)</a></li>
374
375 <li><a href="http://people.skolelinux.org/pere/blog/tags/debian edu">debian edu (115)</a></li>
376
377 <li><a href="http://people.skolelinux.org/pere/blog/tags/digistan">digistan (9)</a></li>
378
379 <li><a href="http://people.skolelinux.org/pere/blog/tags/docbook">docbook (7)</a></li>
380
381 <li><a href="http://people.skolelinux.org/pere/blog/tags/drivstoffpriser">drivstoffpriser (4)</a></li>
382
383 <li><a href="http://people.skolelinux.org/pere/blog/tags/english">english (158)</a></li>
384
385 <li><a href="http://people.skolelinux.org/pere/blog/tags/fiksgatami">fiksgatami (19)</a></li>
386
387 <li><a href="http://people.skolelinux.org/pere/blog/tags/fildeling">fildeling (12)</a></li>
388
389 <li><a href="http://people.skolelinux.org/pere/blog/tags/freeculture">freeculture (8)</a></li>
390
391 <li><a href="http://people.skolelinux.org/pere/blog/tags/frikanalen">frikanalen (9)</a></li>
392
393 <li><a href="http://people.skolelinux.org/pere/blog/tags/intervju">intervju (31)</a></li>
394
395 <li><a href="http://people.skolelinux.org/pere/blog/tags/kart">kart (17)</a></li>
396
397 <li><a href="http://people.skolelinux.org/pere/blog/tags/ldap">ldap (8)</a></li>
398
399 <li><a href="http://people.skolelinux.org/pere/blog/tags/lenker">lenker (4)</a></li>
400
401 <li><a href="http://people.skolelinux.org/pere/blog/tags/ltsp">ltsp (1)</a></li>
402
403 <li><a href="http://people.skolelinux.org/pere/blog/tags/multimedia">multimedia (25)</a></li>
404
405 <li><a href="http://people.skolelinux.org/pere/blog/tags/norsk">norsk (210)</a></li>
406
407 <li><a href="http://people.skolelinux.org/pere/blog/tags/nuug">nuug (147)</a></li>
408
409 <li><a href="http://people.skolelinux.org/pere/blog/tags/offentlig innsyn">offentlig innsyn (6)</a></li>
410
411 <li><a href="http://people.skolelinux.org/pere/blog/tags/open311">open311 (2)</a></li>
412
413 <li><a href="http://people.skolelinux.org/pere/blog/tags/opphavsrett">opphavsrett (37)</a></li>
414
415 <li><a href="http://people.skolelinux.org/pere/blog/tags/personvern">personvern (55)</a></li>
416
417 <li><a href="http://people.skolelinux.org/pere/blog/tags/raid">raid (1)</a></li>
418
419 <li><a href="http://people.skolelinux.org/pere/blog/tags/reprap">reprap (11)</a></li>
420
421 <li><a href="http://people.skolelinux.org/pere/blog/tags/rfid">rfid (2)</a></li>
422
423 <li><a href="http://people.skolelinux.org/pere/blog/tags/robot">robot (4)</a></li>
424
425 <li><a href="http://people.skolelinux.org/pere/blog/tags/rss">rss (1)</a></li>
426
427 <li><a href="http://people.skolelinux.org/pere/blog/tags/ruter">ruter (4)</a></li>
428
429 <li><a href="http://people.skolelinux.org/pere/blog/tags/scraperwiki">scraperwiki (2)</a></li>
430
431 <li><a href="http://people.skolelinux.org/pere/blog/tags/sikkerhet">sikkerhet (25)</a></li>
432
433 <li><a href="http://people.skolelinux.org/pere/blog/tags/sitesummary">sitesummary (4)</a></li>
434
435 <li><a href="http://people.skolelinux.org/pere/blog/tags/skepsis">skepsis (4)</a></li>
436
437 <li><a href="http://people.skolelinux.org/pere/blog/tags/standard">standard (39)</a></li>
438
439 <li><a href="http://people.skolelinux.org/pere/blog/tags/stavekontroll">stavekontroll (3)</a></li>
440
441 <li><a href="http://people.skolelinux.org/pere/blog/tags/stortinget">stortinget (5)</a></li>
442
443 <li><a href="http://people.skolelinux.org/pere/blog/tags/surveillance">surveillance (11)</a></li>
444
445 <li><a href="http://people.skolelinux.org/pere/blog/tags/valg">valg (7)</a></li>
446
447 <li><a href="http://people.skolelinux.org/pere/blog/tags/video">video (35)</a></li>
448
449 <li><a href="http://people.skolelinux.org/pere/blog/tags/vitenskap">vitenskap (4)</a></li>
450
451 <li><a href="http://people.skolelinux.org/pere/blog/tags/web">web (26)</a></li>
452
453 </ul>
454
455
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