Bitcoin Forum

http://www.washingtonpost.com/national/kutcher-among-early-investors-in-iowa-based-flat-fee-payments-startup-dwolla/2012/04/11/gIQAyfBmAT_story.html


I like have to say is...eh

HAHAHAHAHAHAAAA ... the comedy ... by the way 2 1/2 men suck without your homonymous :D.

Which means the real question is, how many Bitcoins does Ashton have?

I seriously wonder if he even knows Bitcoins involvement in Dwolla's success.

Btw, at Future of Money next week during my presentation, I plan on revealing to the public how much of Dwolla's success was attributed to Bitcoin

I saw one of their interviews with Mr. Ashton and Ben  they seriously make Dwolla seem like the next best thing since slicebread.  Ashton sounds like a moron!

edit: I should qualify my statement about Mr. Ashton  - they were rambling on about how Dwolla takes out the costs of Fraud or something...I was like huh lol...

YES!  I will make sure I sit near Ben Milne and get video of his reacton.

Hehe - that'll make him squirm in his seat :)

+1 beautiful!  ;D

Oh yea!  We need 30 iphone cameras so we can do a 360 degree Matrix style rotation face reaction from Ben Milne.

Seriously, Dwolla's success is based on bitcoin and this has been hidden from investors including the latest round and Ashton.

Now THAT my friend...would go viral! Make sure to get some shots of Jered smiling and giving his thumbs up

EDIT:

Ok, I just found out there is a private 'meet and greet' for speakers. That means Jered, Ben and myself will be in an even smaller room together the night before

Ok, here is the evidence which you will need to show Dwolla rise coincides with Bitcoin's rise:

http://blog.dwolla.com/infographic-1mm-per-day-in-transactions-and-counting/

http://www.dwolla.org/blog/wp-content/uploads/2011/07/dwolla-growth-sm.png

And the correlation with bitcoin using Google Trends by month:

http://www.google.com/trends/?q=bitcoin&ctab=0&geo=all&date=2011&sort=0

Dude, totally gonna overlay these charts in my presentation, thanks!

Wow, wish I could see this in person. Guess a good youtube video will have to do...best of luck Bitcoin'ers!

I will pay 10 BTC for a video of his reaction. I want a raw copy though, not just a Youtube link. I'm working on a project to remedy my early endorsement of Dwolla for Bitcoiners in its infancy and this video would help.

Fixed the graphic for accuracy  ;D  You can use this high-res version, Charlie.

https://i.imgur.com/rZM1Y.gif

Thats why you get paid the big bux  ;)

Don't pay evoorhees yet, for one more thing needs to be added to that great chart to make it more greater (sic)--the point where Dwolla no longer needs Bitcoin/Tradehill (or Tradehill/Bitcoin).

~Bruno~

Sgornick was offering to trade Bitcoin for Dwolla dollars during their January promotion where if you followed them on Twitter they gave you a free $1, I think. And Keefe was accepting Dwolla money for transfers into MtGox as well, I remember I moved my first $500 via his Dwolla account back in mid-February. I think the "explosion" period was around the time that MtGox and Tradehill starting accepting it.

I have a feeling Ben Milne will have last minute problems and won't be able to attend... ya know, just like those DJ's that never show up...

http://www.washingtonpost.com/national/kutcher-among-early-investors-in-iowa-based-flat-fee-payments-startup-dwolla/2012/04/11/gIQAyfBmAT_story.html

BRB! Goin' to take a hit, then reread that quote.

Back! Yep, it's still there.

Carry on.

~Bruno~

LOL

http://www.youtube.com/watch?feature=player_detailpage&v=RR7kRXWQo2I#t=957s

Did Ashton major in fuzzy math? I can't figure out the math here. First he says that the average restaurants makes $70,000 gross profit (his words). But only 3% of that is net profits. The credit cards charge 3.6% of the gross sales, cutting into that profit. With Dwolla, the restaurants can now double their profits.

Watch the video (timestamped) to see if you can make heads or tails of what's he's trying to relay.

~Bruno~

Dwolla is a roach motel. It's not FDIC insured. It's just a matter of time before it is hacked.

Makes sense to me.

$70,000 gross profits = 3% means that total revenue for the average restaurant would be $70,000/3% = ~$2.3M.  And if they could chop 3.6% of expenses due to no longer using credit cards, then their total gross profits would rise to 6.6% of ~$2.3M, or $152,000.  Hence, they could double their profits if they could get rid of those pesky CC fees.

Does your equation take into consideration that Ashton was talking about $70,000 gross profit per MONTH (not year)?

~Bruno~

Doesn't really matter what timeframe is being talked about.  $70,000 profit is 3% of $2.3M revenue per month or per year or per decade or per day.  It's the same calculation regardless.

The point I was trying to make early on was that Ashton misspoke. The $70,000 is gross sales, not gross profit. Then he mentions the term net profits. He and his investment team is investing in companies, but gets the three basic terms confused: gross; net; profit. During the interview at that point, I was watching Ben's reaction, and it looked like he at least knew the difference. He probably opted to not correct Ashton for he may be able to use his assumed lack of basic accounting to his (Ben) advantage down the road. Do the Dwolla comes to mind.

Also, the average restaurant does not gross $2.3M in sales per month or year.

~Bruno~

See, I have no idea how much a restaurant generally takes in, so questioning that number didn't even come into my mind.  :p

Ben Milne is going to pull-a-dwolla on Ashton...

And I predicted it first! ;D

Not to take away your thunder, but that's what I meant--pull-a-dwolla not do a dwolla. Good call!


I hope you my comments in replying to you didn't come across as rude, SgtSpike.

~Bruno~

Not at all Bruno!