This is due to repeated cases where someone pays for Bitcoins with Paypal, receives their Bitcoins, and then fraudulently complains to Paypal that they never received their goods. Paypal too often sides with the fraudulent buyer in this case, and so exchangers no longer allow this method of funding.
quote: I mean who the hell wants to jump into that scenario with your hard earned USDs?
quote: I did not look into the technical details of the security measures bitcoins have in place...
quote: He said that because the 'attack' you're talking about doesn't make any sense. This theoretical attacker wouldn't have access to anyone's bitcoin wallet, just their bitcoin addresses, which are public keys, which are not vulnerable to an attack of the kind you're proposing.
quote: Based on the current difficulty of 567269.530162, the network hash rate can be approximated at 4 THashes/sec (tera-hashes). Given an average CPU mining rate of 5 MHashes/sec (this is a high average too), it would take over 800,000 CPUs to match this.
quote: It's not so much that someone says "too fast!" and ups the difficulty, it's more like the difficulty increases as there are fewer BitCoins left to 'find'. There are a limited number of BitCoins , each one is more difficult to find than the last.
quote: I can assure you this website has nothing to do with the above mentioned accusations. Any DT staff involved in such activity would be immediately and publicly terminated.
quote: Traditionally deflation is very bad for a currency, because it means that people won't want to spend the currency because it's so "valuable". But this is largely an effect of the particular currency's limitations imposed by its smallest denomination.
quote: DailyTech is a news site and its only agenda is to cover the news.
quote: However, the major exchanges like Mt. Gox are registered to individuals outside the U.S. in many cases and, further, may not qualify as a "business" as they charge no fees and do not make money off advertising.
quote: Mt Gox charges a small fee (0.65%) for each trade.