Oh so the contest was on BITCOIN forum, I like how you excluded that from your original post.
I didn't think it really mattered; I was not making a point about the contest, I was saying how it was easy, quick, and cheap to send a bunch of payments simultaneously to diverse recipients. |
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Why is it so hard to buy BTC with USD? ummm because around here USD is 100% preminned junk  LOL USD is not premined, it's just that the creators can add as much as they want to their own accounts whenever they want. |
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People are still buying bitcoins because they are so cheap! The price is going to skyrocket again any time now, BUY BUY BUY!
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Last week I ran a poetry contest. The entries came from all over the world (I can only assume, I did not actually ask where anybody was from). At the end of the contest I was able to send a little bit of money to about ten different people I had never met before and all I had to identify them was a single string of characters, the money was sent instantly for an a "generous" fee of the equivalent of 0.1 USD. You don't see how bitcoins are useful? Maybe I could have sent them cash in the mail ... 0.41 usd each for the postage, but wait I don't have addresses for them, I could ask for their mailing address, but no, they would not want to give me (an anonymous guy on the internet) that information, so my giveaway would have failed.
My immediate question is: What in the world will those people do with Bitcoin? I know decent God-fearin' American patriots would rather burn the American flag than take part in a poetry contest, but you must have had some real live Al-Qaeda type international terrorists! I mean, all of these people had Bitcoin addys & used Bitcoin already? And they lived all around the world? You're pulling my leg! Not a single one of them waxed poetically "[TL;DR] WTF is Bitcoin"? Amazing. But let's assume these folks had Bitcoin wallets & knew how to use them ( having texted "BRB, wallet synching" to their respective muses, putting poesy distillation on hold), where in the world will they spend those tips?! I have no idea what they are going to use the money for, you could ask them? https://bitcointalk.org/index.php?topic=219714.0As part of submitting poems they were asked to provide a bitcoin address, so it looks like all of them had bitcoin address at hand and easily accessible. And why not? Even if you use a paper wallet it does not hurt to have the bitcoin address sitting in lots of places so you can hand it out to anybody who asks. I didn't have anybody asking what a bitcoin is, but being on the bitcoin forum if they had not gotten that far they would not have found my poetry contest either. |
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You could have instantly sent the giveaways via Paypal completely free. All they need to do is provide you with a throwaway email.
From what people around here say, PayPal is the devil. Bitcoins would be able to maintain a price if there was an actual economy utilizing them. I have not been impressed by any of the sites selling stuff for bitcoins, most are very unprofessional. There is still much growing to do to have bitcoin be a viable currency.
I don't think there really needs to be an "economy" built around bitcoin for it to continue rising. There are clearly use cases already in place, like how S.MG on MPEx just raised the equivalent of a million dollars in their IPO. Bitcoin can do just fine serving the tech savvy and the financiers of the world. |
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You've been around this forum for a bit, so i'm sure this conversation happened more times than you can shake a stick at. But i''ll bite: You're talking about potential, not current, usefulness -- am i right? Because right now, if i don't need to gamble or buy from SR, my fiat does just fine, while Bitcoin ... well, i can't even gas up my car with it. As far as potential usefulness, I suggest you get behind my Bitcoin V2.0 -- I'll let you in on the ground floor & toss you a few coins.
Oh, and you can mine it while the difficulty's still low (sorry, old Bitcoin -- you had your day in the sun). My 2.0 is no different from bitcoin, other than lower total coin count (+1 for RARITY), so it's potential usefulness is no different from Bitcoin V1.0.
So, is it rarity & usefulness that gives Bitcoin value, or could it be ... something else?
Last week I ran a poetry contest. The entries came from all over the world (I can only assume, I did not actually ask where anybody was from). At the end of the contest I was able to send a little bit of money to about ten different people I had never met before and all I had to identify them was a single string of characters, the money was sent instantly for an a "generous" fee of the equivalent of 0.1 USD. You don't see how bitcoins are useful? Maybe I could have sent them cash in the mail ... 0.41 usd each for the postage, but wait I don't have addresses for them, I could ask for their mailing address, but no, they would not want to give me (an anonymous guy on the internet) that information, so my giveaway would have failed. |
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It seems strange that Bitcoin service operators are STILL using VPS. We have been running bare metal, with a "known good copy" of OS installed remotely using IPMI remote media capabilities. Nobody at our hosting provider either knows any login credentials or has the ability to reset them. Whole disk encryption ensures that even physical theft of disk would not lead to data loss. The funny thing is that even with that I was too paranoid to use a hot wallet for refunds so they required manual processing.
Sounds like you know what you are doing, unlike so many in the bitcoin world. FastCash4Bitcoins was a badass service. Hopefully it will come back. What does FastCash4Bitcoins have to do with Vircurex? |
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You must be crazy. There is no assurance that as people learn about bitcoin they will actually start using it. For many people bitcoins are just too hard to use. It seems like there are plenty of people who get all gung-ho for a little bit, but then they get bored and leave bitcoins behind. Bitcoins are inflating at over 10% a year right now, clearly the price is going to go down in the short term.
Bitcoin is like a drug, once you get a taste you can't give it up. ^ but what is bitcoin backed by  Bitcoin is backed by the people around the world who are willing to pay money or render services in exchange for bitcoins. |
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Okay, I was just thinking about bitcoins and how amazing they are. Then I realized that it is inevitable for the price of bitcoins to go up over time, because as each person decides they will accept bitcoins the overall network effect increases. As the population of the world is increasing, so too must the price of bitcoins. I look forward to the amazing world we will build together using this wonderful technology.
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Jamacians should say "Me Bitcoin"
French: "Le Bitcoin"
English Hooligans: "Bitcoin! Bitcoin! Bitcoin! Oi! Oi! Oi!"
US: "BitCoiiiiiyyyn"
and so on... more on request, just PM me
The French of course pronounce it the french way, an American writing what they hear would write: "Luh beet-kwahn". |
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Why is this in "Bitcoin Discussion" and not "Press"?
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I think the suggested modification would be useful.
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another thing
why are sockpuppets allowed when we have an auction forum?
if it is allowed to do, what stops people from shill bidding?
Shill bidding is dishonest and most people are generally honest, so they don't do things like that? |
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Also I've NEVER seen a mod edit a post, or warn someone. I'm all for freedom of speech but cussing and swearing and threatening ... why is this allowed ? Why have mods at all then ?
I have seen a couple times where a mod adds big red letters "This is probably a scam, do your research" or some such warning. |
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Wait, are we considering that OP an actual contract? If it is supposed to be a security contract, the issuer should gpg sign it so we can know if it gets modified.
You can view the actual contract submitted on btco.co. The language in the contract is slightly different than the OP, but much of it is still poorly defined and vague. Why is it in "locked" instead of "awaiting approval"? |
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Looks like another hijacked profile. 8O
I don't understand how starting this thread would help a hijacker? Are the links to something malicious? |
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If you are in the US, Look into Coinbase or Dwolla+CampBX. Dwolla and Coinbase link directly to your bank account, and moving money from Dwolla to CampBX is almost instant. Then you can use either Coinbase or CampBX to trade the USD for BTC, and then send it on to your wallet.
Every once in a while somebody pops up with a website selling bitcoins directly paid with credit card, but none of them have lasted very long.
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It could have been stated more clearly, but you do not have to purposely misread his words.
The obligation does not lie with the reader to interpret the contract when things are unclear or worded poorly. It sits with the issuer to be clear and concise. Wait, are we considering that OP an actual contract? If it is supposed to be a security contract, the issuer should gpg sign it so we can know if it gets modified. |
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Release weekly dividends of at least 1% of the capital gathered from public offerings. This is a minimum expectation.
There is literally no reason to return raised capital back to shareholders in this manner- unless you want to make it appear as though the fund has some form of positive cash flow. This is the same strategy that all HYIPs abide by. -Dividends only come from profit through the trading and investment activities. I don't know why you would think i would do this. I'd take dividends out of my own pocket before taking them out of the fund. I am just repeating what you said. "Releasing dividends of at least 1% of the capital gathered from public offerings." You stated you are going to raise money and then you are going to release 1% of it back to shareholders each week. The language you used that I quoted makes no mention of profit, only raised capital from issuing shares. Obviously he is going to raise capital and then 1% of that is the target for profit, not that he is returning raised capital. So if he raises 100 btc, his target for profit is 1 btc, which profit would be given as a dividend, not that 1 of the 100 initial capital is returned. So after a week he will have ~ 1 btc profit, which he gives as dividend, leaving the 100 btc capital. It could have been stated more clearly, but you do not have to purposely misread his words. |
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