Author Topic: Bitcoins-New internet currency for donations without Paypal or CCs  (Read 12520 times)

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Offline Ashi

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The German Spiegel has an article today about Bitcoins, some new internet currency (Idk anything about IT, so I can´t explain how it works) that make it possible to create and donate money independently from banks, creditcards, paypal etc. It then can be cashed back into real money.
I would suggest to check it out and perhaps set up a bitcoin donation account for WL.
here are some links to check out:
http://www.bitcoin.org/
http://www.spiegel.de/netzwelt/netzpolitik/0,1518,765382,00.html
http://www.pcworld.com/businesscenter/article/213230/could_the_wikileaks_scandal_lead_to_new_virtual_currency.html
I would expect WL to have the knowledge and the connections to figure out how this works, and maybe even start to create their own money this way. I know it sounds weird, but it seems to be a realy sophisticated new tech solution developed by hackers as a way to stopp any gouvernments to interfere anymore.
It say in the article, that the CIA will be briefed in on this this week, too.
So, pls could someone savy with these things check into it?
 ;) Ashi
« Last Edit: May 31, 2011, 19:35:09 PM by Ashi »

Offline lizrex

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Wikileaks is noticing bitcoin, this from their twitter:

Quote
WikiLeaks
Namecoin and Bitcoin will be revolutionary http://is.gd/8zKOTT see "Orwell's Dictum" http://is.gd/2hsOWh

If a hash code generator could be programmed, I believe the sender can be allowed to choose a hash code, then it might be a convenient and new way for ppl to donate.


Offline lizrex

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According to wikileaks twitter  "The Atlantic is opportunistically trying to spread fear, uncertainty and doubt about Bitcoin. We have spent our (cont) http://tl.gd/b8qli4". 

Here is the article:

http://www.theatlanticwire.com/technology/2011/06/bitcoin-eff-wikileaks-fsf-donations/39055/

It's almost as if some rogue unit is trying to prevent wikileaks from accepting donations.  Kudos to you wikileaks for supporting bitcoin (and being able to understand it ;E)  and standing up for truth in the face of these dirty dirty tactics.


Offline uncensored

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According to wikileaks twitter  "The Atlantic is opportunistically trying to spread fear, uncertainty and doubt about Bitcoin. We have spent our (cont) http://tl.gd/b8qli4". 

Here is the article:

http://www.theatlanticwire.com/technology/2011/06/bitcoin-eff-wikileaks-fsf-donations/39055/

It's almost as if some rogue unit is trying to prevent wikileaks from accepting donations.  Kudos to you wikileaks for supporting bitcoin (and being able to understand it ;E)  and standing up for truth in the face of these dirty dirty tactics.



Wikileaks cashed out their Bitcoin last week,  a couple of days before the big hack.
http://www.theatlanticwire.com/technology/2011/06/bitcoin-eff-wikileaks-fsf-donations/39055/
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Offline tabula rasa

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I'm trying to get my head around Bitcoins ATM, I can't work out yet if I even understand what they are, let alone how to use them lol!
There is a certain dramatic irony attached to all this. A synchronicity that borders on predestination, one might say.

Offline uncensored

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I'm trying to get my head around Bitcoins ATM, I can't work out yet if I even understand what they are, let alone how to use them lol!
It looks like wikileaks cashed out  2 days before Mt Gov was  hacked,  and  bitcoin may not be able to recover from the massive hack that stole millions in bitcoin resulting in a  plumetting the value.
 
 
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Offline lizrex

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I believe wikileaks was cashing out regularly because they need the money.

Offline C

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What is BitCoin?

BitCoin is a virtual currency. This currency is mostly produced by a client (program) ( http://sourceforge.net/projects/bitcoin/ ) you install on your computer. While your computer is idle, the client uses the CPU to generate so-called cryptographic hashes for the BitCoin system. To put it simple: the power of your PC/Mac makes money ;) It takes pretty long to generate BitCoins this way, on the other hand: it doesn't really cost you anything :)
The program gives you a BitCoin address once you installed it.
There are also other ways to get your hands on BitCoins. You can sell products for BitCoins or even buy BitCoins.  ( http://tradebitcoin.com/ ) The latter is used by many people for donations and so on.

BitCoin Account
The BitCoin address you get from the program is a private/public key pair of cryptographic hashes. You need the private key that matches your BitCoin address to access and spend your BitCoins. For every transaction a new address can be generated which helps you to stay anonymous :) . The BitCoins are assigned to these addresses so you need to make sure to safe them somewhere. (This would be the wallet-file :) many sites suggest you can safe it in your Dropbox, because then you still have it if your hardware crashes).

Sending Coins
You need the BitCoin address of the person/organization/merchant/elephant/me :) you want to send BitCoins to. As for WikiLeaks this would be: 1HB5XMLmzFVj8ALj6mfBsbifRoD4miY36v]
In your client you just click "Send Bitcoins" and enter the address :) the rest is self-explaining.
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Offline Skyrish

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WikiLeaks has suggested Bitcoins as a secure and anonymous way to make donations to WikiLeaks.
But getting Bitcoins is not easy if you don’t know how. The process is not at all Blonde friendly. And I know for a fact, many a blonde would like to contribute to WikiLeaks.
What to do? With Paypal and Visa out, the only easy way to give to WikiLeaks now is to buy a tshirt from www.spreadshirt.com.
I bought two (and a wikiLeaks umbrella) before I decided to learn how to get some Bitcoins. Or Bust.
Thus:

A Blonde’s Introduction to Bitcoins.

Bitcoins. You cannot get Bitcoins from an ATM. Or from a bank. They reproduce in the wild. Sort of.
And then you have to buy them.
And then you have to find someplace to keep them safe. (There be dragons out there who have been creating trojans to steal them.)
But first things first.
1.   What is a Bitcoin? A Bitcoin is a “peer to peer” digital currency.
   www.bitcoin.org  will give you the basics.
2.   On bitcoin.org  you can download a “Bitcoin wallet” where you can put your Bitcoins to keep them safe (once you get them). You can store your Bitcoin wallet on your computer, or you can stash them elsewhere.
3.   But first you have to get you some.

Here are four ways to get Bitcoins. But if you are even slightly Blonde, go directly to 4.
   1. You can accept Bitcoins as payment for goods or services.
      er…. right.
   2. Mine Bitcoins. Yes, just like mining gold. You do this with a “Bitcoin Miner” http://www.bitcoinminer.com/ or join a “mining pool” or create a new “block”  https://en.bitcoin.it/wiki/Block
           Bitcoin Mining is not for the faint of heart.
   3. Find a local trader on http://tradebitcoin.com/ and trade for cash;
      (There are not that many around, at least where I live. I looked.)
   4. Blonde accessible services where you can buy Bitcoins with “real” money. These are rather like standard stock/commodity  markets. The biggest of these markets are MtGox and Tradehill. Mt.Gox has recently been in the news and was down for a while. Google MtGox if you must.
   To use one of these services you
   1. First join.
   2. Second deposit money (or bitcoins).
      These sites mostly want Bank transfers. Or you can use www.dwolla.com
      Dwolla will accept money from a bank account that you link to it. Processing from Bank to Dwolla can take a few days.
   3. Third: Log onto your Trading Account and chose “transfer money from Dwolla” and then wait for the money to process. Can again take up to a week or so.
   4. Fourth, buy yourself some Bitcoins.
      You can leave your Bitcoins in the Trading Account or transfer them to your Bitcoin Wallet.
      The Wallet has a “send” function where you
   5. Sent them off to Wikileaks. http://www.wikileaks.ch/support.html
   Or trade them for goods or services. Here is a list of sites that do (or have) accepted Bitcoins for goods or services. https://en.bitcoin.it/wiki/Trade
   But you are

Offline tabula rasa

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Thank you so much C and Skyrish!!! Those explanations are exactly the kind of detail and easy to understand language I have been looking for!

I think I remember reading that u can use the Wikileaks IRC chat to get an anonymous wallet? I assume this could be used if you don't want the bitcoins sitting in ur wallet and just want to send them off?

I don't suppose MtGox or Tradehill take creditcards?lol! Until I know exactly what I'm doing I like the transaction guarantees for fraud that my cc gives me  :)
There is a certain dramatic irony attached to all this. A synchronicity that borders on predestination, one might say.

Offline uncensored

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Re: Bitcoins-New internet currency for donations without Paypal or CCs
« Reply #10 on: July 02, 2011, 08:04:01 AM »
What is BitCoin?

BitCoin is a virtual currency. This currency is mostly produced by a client (program) ( http://sourceforge.net/projects/bitcoin/ ) you install on your computer. While your computer is idle, the client uses the CPU to generate so-called cryptographic hashes for the BitCoin system. To put it simple: the power of your PC/Mac makes money ;) It takes pretty long to generate BitCoins this way, on the other hand: it doesn't really cost you anything :)
The program gives you a BitCoin address once you installed it.
There are also other ways to get your hands on BitCoins. You can sell products for BitCoins or even buy BitCoins.  ( http://tradebitcoin.com/ ) The latter is used by many people for donations and so on.

BitCoin Account
The BitCoin address you get from the program is a private/public key pair of cryptographic hashes. You need the private key that matches your BitCoin address to access and spend your BitCoins. For every transaction a new address can be generated which helps you to stay anonymous :) . The BitCoins are assigned to these addresses so you need to make sure to safe them somewhere. (This would be the wallet-file :) many sites suggest you can safe it in your Dropbox, because then you still have it if your hardware crashes).

Sending Coins
You need the BitCoin address of the person/organization/merchant/elephant/me :) you want to send BitCoins to. As for WikiLeaks this would be: 1HB5XMLmzFVj8ALj6mfBsbifRoD4miY36v]
In your client you just click "Send Bitcoins" and enter the address :) the rest is self-explaining.

Thank you both for the tutoring on bit coin.  I read that to buy bit coin it is about  $16 or $17   US dollars for one bitcoin......is there a chart  to to see the exchange rate for  your country's currency?

I read that having your computer generate bitcoin while idle  could take  10 years to  generate one bit coin .....is that true?  If not  how long  would it take for  your idle  computer to generate one bit coin?
Maybe easier and faster to buy them  but then  how is it different then money other then  it can be anonymous
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Offline tabula rasa

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Re: Bitcoins-New internet currency for donations without Paypal or CCs
« Reply #11 on: July 02, 2011, 09:20:39 AM »
@uncensored, I haven't seen an exchange rate comparison, but most of us non-US peeps are pretty good at converting from USD to our local currancy :) although now that the Aussie dollar is worth more than the USD the calculation is easier for us that's for sure  ;D

I'm not sure if the exact timeframe for the generating of Bitcoins but I remember reading somewhere that it took ages unless u were really dedicated to creating/mining them so your estimates prob aren't that far off the mark!
There is a certain dramatic irony attached to all this. A synchronicity that borders on predestination, one might say.

Offline infohedon

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Re: Bitcoins-New internet currency for donations without Paypal or CCs
« Reply #12 on: July 04, 2011, 08:01:55 AM »
I tried to clarify the process of acquiring and donating bitcoins here: http://infohedon.blogspot.com/2011/07/donate-to-wikileaks-with-bitcoins-tell.html

Here's the pertinent section from the link (may be easier to go to the link above):



Here’s how this is gonna happen:

    1. Set up Dwolla account and deposit funds. (there’s some waiting and confirmation stuff here)
    2. Set up MtGox account and transfer funds from Dwolla account.
    3. Use MtGox account to buy some bitcoins.
    4. Transfer bitcoins from MtGox account to WikiLeaks, or transfer to online wallet and donate from there.

Off we go.
1. Set up Dwolla account deposit funds. (US only; Otherwise, see next step)

Go to: https://www.dwolla.com

Good job. Now sign up for an account. Don’t forget that you’re dealing with real money, so you’ll want to avoid that 12345 password. You’re going to need an account to transfer money from. It’ll ask you to confirm two deposits in your bank account as well as confirm your e-mail. You’re getting your routing and account number mixed up? Okay, here:



After you confirm the deposits, you’ll need to get money into your Dwolla account. There’s that transfer time . . . such a pain, I know. Just think of how much WikiLeaks has done for you. You can bookmark this page and continue when you get the confirmations. Also, you’ll need to transfer enough to purchase at least one bitcoin. The going rate can be found at: https://mtgox.com/, which hangs between 15-20 US dollars.

2.   Set up MtGox account and transfer funds from Dwolla account.

You’ve hung in there. Good work. Go to the Bitcoin exchange market: https://mtgox.com/
Now set up an account with that clever alphanumeric password.
Click on “add funds”. It’s on the left side of the page. You have a bunch of options. If you’re from another country, use one of these:

   
  • Redeem MtGox code
        Liberty Reserve
        Cash or Check
        Euro Bank Transfer (Europe)
        Australian AUD Deposit (AU)
        International USD Wire

You’re on your own there if you're not using a Dwolla account.

For those in the US that used the Dwolla account, click on that radio button and click the hyperlinked number following “account number”.

This takes you to your Dwolla Account.

You’ll see steps numbered in blue circles. The first text box will have your MtGox account number in it: MTGOX#12345X. The default is to send money from your Dwolla account to this account, so you’re good. Step 2 is to check how much you want to transfer. That’s your call. Go ahead and complete your transfer.

3.  Use MtGox account to buy some bitcoins.

You’re ready to get some coins.  Click on “trade” in the left of the MtGox site. You’re asked for the number of bitcoins you want. You have to figure this out by looking at the going rate.
Look at what bitcoins are going for in the row showing the lowest asking price. Round up to the nearest cent. Divide the amount you want to spend by this going rate. That’s the amount you’re buying.

Now take the going rate number and put it in as your asking price. Note that your transaction wait will be shorter if you offer to pay a few cents higher than the lowest asking price. You can wait around if you want to save some pennies, or you can offer a few cents higher. You won’t necessarily pay the amount you offer. It’s just the max you’ll pay.

Click “Buy Bitcoins”.

You’ll see your dollar balance get lower and bitcoins get higher at the top right of your screen as the trades go through.

4.  Transfer bitcoins from your MtGox account to WikiLeaks, or transfer to an online wallet and donate from there.

You’ve got your bitcoins. Kickass. Time to spend them. You can (A) make your transfer to WikiLeaks now, or (B) you can hold your money in an online wallet and transfer it from there.

A.
Click on “Withdraw Funds”. Click on the number of bitcoins you want to donate. The number must be one or greater. Keep that in mind to avoid stranding $10 or so left in the account. Now put in WikiLeaks’ bitcoin address in the box: 1HB5XMLmzFVj8ALj6mfBsbifRoD4miY36v. (Bitcoin address link goes to WikiLeaks’ page showing its number)

WikiLeaks says thanks.

If you click on account history, then you can see the withdraw transaction, though it doesn’t say the destination.

B.
Okay, so you want to keep some leftover coin. The easiest option is to set up a virtual wallet. Go to https://www.mybitcoin.com/

Click on sign up, use your good password, and open your account. You have your own bitcoin address now to receive and transfer bitcoins.

Now go back to https://mtgox.com/. Click on “Withdraw Funds”. Click on the number of bitcoins you want to transfer to your online wallet. The number must be one or greater, and you might as well transfer it all if you’ve chosen this step. Now put in your bitcoin address from https://www.mybitcoin.com/ in the box. Transfer it on over.

Now you’re dealing with your coin at https://www.mybitcoin.com/. Click on “Send Payment”. Select however many bitcoins you want to give to WikiLeaks and insert their bitcoin address the box: 1HB5XMLmzFVj8ALj6mfBsbifRoD4miY36v. (Bitcoin address link goes to WikiLeaks’ page showing its number)

WikiLeaks says thanks. You can click on “view history” to see the exchange.

Way to be persistent! You must really like WikiLeaks. Good for you. And if you're wondering how else you can store/spend any leftover bitcoin, you may start your search here: http://www.weusecoins.com/getting-started.php.


Offline uncensored

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Re: Bitcoins-New internet currency for donations without Paypal or CCs
« Reply #13 on: July 04, 2011, 19:14:25 PM »
I tried to clarify the process of acquiring and donating bitcoins here:
I am not all that comfy hooking bitcoin to my bank account. Any other way?
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Offline C

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Re: Bitcoins-New internet currency for donations without Paypal or CCs
« Reply #14 on: July 04, 2011, 21:46:19 PM »
Could work like this:

get an ukash acc and turn your codes into USD. Now you should be able to use these for a trader like mtgox to buy bitcoins.

;)
Communication is life, lying is art, deflection is business, detection is skill.