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When I was in Iraq it was sort of a joke to bet someone 10 bucks on something. The joke being that as defense contractors we were making a couple hundred thousand each so $10 meant very little, but the fact that we were in Iraq and the actual cash out there is very limited, mainly limited to the cash you brought with you. So 10 real dollars meant a bit of effort. Even worse if they said the bet would be in real change (they actually pay your change in little round cardboard tokens at the stores because the weight of shipping change would be too much effort).
Maybe Bitcoin could fill a void of people who make a lot of money but have difficulty using it. I know I ran into trouble when my girlfriend was getting a new apartment for us and I had over $50k in my bank account but it did her no good standing in front of the apartment guy (with no access to my account). I had to go to the only military bank and withdraw the maximum $300 per day and then Western Union the money to her over the course of a few days to get the deposit taken care of.
I am not sure what hole that Bitcoin could fill, but I plan on going back out there and will look into using Bitcoins in the best way possible.
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Any news outlets lined up for the event?
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The answer is likely in this:
Sequent Software
and
Sequent Computer Systems
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From reading their site, I also wonder if they're keen on embracing Bitcoin.
You could always ask: contactus@sequent.com |
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From the looks of it, IBM merged with sequent back in '99 in order to get some hardware for their thin clients. IBM has since sold off their PC line to Lenovo.
Not that it is relevant, but I work for IBM. No inside info though...just google.
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Compare 1BTC to 1 oz Silver.
Total silver in the world is 45,000,000,000 (45 billion).
Max amount of BTC will be 20,000,000 (20 million).
Currently silver is about 37 USD per oz.
That equals $1,665,000,000,000 (1.6 trillion)
If 1BTC were to become as popular as 1oz of silver at the max amount of BTC supply, it would be worth $83,250 per BTC.
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This. Buy a lot of bongs and weed and blow your mind. |
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When I first checked out Second Life, the Linden dollar was at about 2 Linden Dollars per USD.
Looking at how the whole thing worked I knew that they would be making their money by devaluing their currency.
It is currently around 250 Lindon Dollars per USD.
Why would they give up all of that free money?
Might as well ask the Federal Reserve to replace the dollar with BTC.
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Perhaps a good step for stores would be to pay all change (excluding bills) in Bitcoins.
This would be useful as the government tries to find cheaper metal for our devalued currency.
Just pay the cash then scan the customer QR code on a keychain.
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Paypal is susceptible to chargebacks.
I will preface this by saying that I have paid PayPal back and that no illegal intent took place.
So, I do not know how it happened, but one day I noticed that $1,000 was being transferred from my linked bank account to PayPal.
The funds had already left my account leaving me with -$400 in my account. I freaked. I immediately called PayPal and told them I did not
authorize the transaction. I then went to my bank and told them that the transfer was not authorized nor initiated by me.
They both went into fraud checking mode to see what happened. Paypal came back a day later saying that everything was legit, that it was me who did the transfer. I went to my local bank and told the lady that there was no way that I transferred money which would have left me in the negative.
That day, my PayPal showed a balance of $1,000. I immediately began the transfer back to my bank.
The next day my bank reversed the original $1,000 and waved my overdraft fees.
A day later the $1,000 from PayPal showed up in my bank account.
My PayPal account then showed a -$1,000 balance and my account was then locked.
So, essentially I could have taken the money from my bank and spent it and said screw PayPal (they would have sent me to collections though).
I got a call from PayPal and I took care of the negative balance.
What I suspect originally happened was my wife was buying something online and through a series of bad clicks, initiated the $1,000 transaction. She has no clue how to transfer money so I still do not know how it happened.
tl;dr You can get money out of PayPal by transferring money then telling your bank it was a false transfer.
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Finally ended my short from 5.6 at 5.2.
Tried to buy back big at 5.2 but the * would not go away until just now at 5.36.
There is plenty of room for it to climb at this point.
And people will be getting money in their accounts tomorrow.
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Speculation adds stability. I can only imagine how volatile Bitcoin would be without it.
Agreed. Nobody manipulate Bitcoins! Everyone just trade what you need when you need it for purchases! Then one day cascius or bit-pay need 100,000 BTC for some project they are working on or an investment into a new technology and the price skyrockets to $1,000/BTC as they have to pay whatever people ask for with such a limited supply at the exchange. |
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Consider this scenario:
An oil well estimated to yield 10 billion gallons of oil is found off of the coast of Texas.
Oil traders hear about this and immediately start selling their shares of oil with the knowledge that the extra supply will lower the price of oil in the long term.
As they sell, the price of oil drops.
As the price of oil drops, gasoline prices drop.
You benefit by paying less at the pump for gas.
This, from not a drop of oil being extracted.
Would you forbid this type of speculation from happening?
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The low has constantly been just outside of my profitability for my short.
Last week I was waiting for it to fall below 5.4, this week 5.58...
it teases me right above each time
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If you feed the monster, it grows larger and is harder to move.
It jumped in June to $30 because there were a small amount of people throwing in some money.
Now it is harder to have such huge jumps because there are more people in the market throwing in their money.
The same market exists for gold. You can subscribe to newsletters telling you which way gold is headed. The only difference is that a lot of people own gold so the result is not so dramatic.
If you do not like the manipulation, encourage more people to come and manipulate for their own gain.
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How do I sign up for this market predictor that rises and falls based upon the e-mail sent out?
Sounds like an e-mail a friend of mine was signed up for with stock advice. He would wait for the e-mail to say what stock would go up or down, then he would immediately buy or sell. Then everyone else who received the e-mail would do the same and he would buy or sell at a slight profit.
I like profit.
Please point me to this source of profit.
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 means BUY!!!! |
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Interesting thread about USDcoins earlier. Basically a crypto coin pegged to the dollar right?
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The Weekend Dip strategy that had seen gains that were better than just maintaining a buy and hold position for much of 2011 is detailed below. The reason this pattern might exist is because bitcoin exchanges are open 24/7 but bank transfers are only occurring on business days. Add in the timezone difference between the U.S. and Japan (where Mt. Gox) and you get an even narrower window where new funds arrive at Mt. Gox.
When Bitcionica arrived, leverage made this weekend dip less likely to repeat as traders had the ability to move without waiting for cash transfers to clear. Even so, there seems a pattern recurs. Here's one way to try to trade it:
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From a long position, evaluate late Wednesday evening (U.S.) / Thursday (morning Europe, afternoon east). If the 7-day high is below the previous 7-day high, then sell some. If that 7-day high is above the previous, then this is not a good weekend to try to play the weekend dip strategy.
So if you sold, then wait and watch. Put in some buy orders -- e.g., buy a quarter of what was sold at 5% below the , another quarter at 10% below, another quarter at 20% and the last quarter at 33% below.
Wait and watch.
Around Saturday evening is generally the low point. Watch closely after that. If the price just sits, you can wait longer, into Monday, but if the bids start changing the direction close back towards where you sold then cancel your bids and repurchase what you sold so that you aren't caught chasing the ball above where you sold.
If a big drop happened on Friday then bank wires from the West would reach Mt. Gox by Sunday evening (U.S) so try to be back in your position fully by then. If Friday was flat, then bank wires from the West won't reach Mt. Gox until Monday evening (U.S.) so you can be more patient, as there could be a drop on Sunday night/Monday as well. When there is a big drop, you want to be back in your position before those wires hit.
Now if instead the price rises from where you sold, check your emotions. If there is no reasonable explanation for it to jump 10%, for example, it might just drop over the weekend. Or it might continue zooming up 33%. It may be weeks before you re-enter your position anywhere near where you sold, or you may not end up with a chance to enter at the level you sold at. But when trading the weekend dip, your gains over time will more than compensate for the hit taken when the rare occurrance that price had a big run when conditions were ripe for a dip (using the 7-day high test explained above).
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p.s., I'm not a financial advisor nor necessarily an active trader either. You don't want to blindly follow a strategy like this -- I'm just explaining a strategy that seemed to work at certain points in history.
That said, this strategy kicks off only by selling a long position -- so if you will beat yourself up for missing that 40% rise that happened over the weekend, don't follow this strategy.
Seems like this strategy would be correct for about 90% of that chart. Which means that it should drop again this weekend. |
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