What is this "Beanie Babies" you speak of and where can I get many???

I will pay top dollar!

With Bitcoin being represented at CES, the TV show bringing up Bitcoin and the software updates I can see this going up to $10 by the end of the month.

176 board members are using Bitcoin!!!!


WOOOOO HOOOO!!!!

This is like saying that Bitcoin is a bunch of gold bugs trying to bring back something that never worked in the first place.

Anyone who is under 30 and does not support Ron Paul either

A. has not done their research or

B. not really under 30


(most people over 30 have resolved to the fact that the government is their master and there is nothing to do to stop it)

$250.31008

I will hunt you down if you do not come through with your promise of 2 BTC.

We tried to hash out how to get Ron Paul to accept Bitcoins a while back and came to the conclusion that the possibility of some foreigner donating a buttload to a US campaign is just too simple with Bitcoin since you have no idea of who the donor is.

Even donating directly to RevPAC would require some proof that you are not a foreigner.

I have an idea on a software application for paying someone cash for Bitcoins.

The scenario would be, you both open up your exchange app, you both authorize the exchange of the same amount. The application starts transferring Bitcoin for cash in the smallest increments possible (ie a penny at a time). If at any time in the transaction a penny is sent and the equivalent BTC is not paid, the transaction is terminated. So the most you could lose during a transaction with someone is a penny.

The cash exchange part could be made up of many different cash transferring medium such as Dwolla, etc.  The key being that money transferred between users is not charged on a per-transaction basis (otherwise it is a non-starter).


What do you think? Could this work? Am I missing something?

They could find 50 million barrels of oil tomorrow and the oil price would go down. Even with not one drop of oil drilled for years.

So, knowing that Bitcoin will stabilize a year from now should stabilize it now.

You always hear things about how the "speculators" are ruining gas prices because they drive the prices up. But you do not hear about how speculators are terrible when a new oil field is discovered and the price of gas goes down. That is how speculation works. You look at how things are going to be in the future and you fix the price to that predicted value.

One thing that may help Bitcoin take off would be a coupon book for discounts at stores that take Bitcoins. I saw a coupon book for sale for $5 with a bunch of great deals. I have purchased books for as much as $20 knowing that I would be able to get half off at some decent places. A coupon book where you get the discount when you use Bitcoins may be a decent thing to try out.

Also, to get local Bitcoin use going, a Groupon type of setup would be decent. The way Groupon works is that you pay up front for a local service at a considerable discount. The retailer gets paid up front and honors the vouchers. This could easily be done in Bitcoin. Even for businesses that do not accept Bitcoin.

I would have thought that he was smart and manipulating to make money...but after watching long enough, he drives the price down over and over...most often keeping it low before vanishing again

After a nice quiet weekend of slow increase in price, the manipulator is back.

With huge bid walls and fluctuating prices.

Get ready for the price to drop. That is the mission of "the manipulator".

I was driving down the road and I saw a "Western Union" sign and thought...why do we still have those places around?

Bitcoin could easily replace Western Union all over the world. You just become a Bitcoin exchanger in your store and if someone wants money transferred they just go to an exchanger and send their money to the recipient's Bitcoin address. You go to one of any exchangers and exchange your BTC for your currency and you are all set. The exchangers could charge a fee that is cheaper than sending a wire transfer. Then bam...good-bye Western Union.

Am I missing something here?

I am far from a bear and want Bitcoin to shoot up to $100/BTC but have seen time and time again that on long holiday weekends when people cannot get deposits into their Dwolla accounts until the following Monday, the price drops throughout the long weekend, further than an average weekend.

It dropped quite a but over 4th of July weekend, Labor Day weekend and even over Columbus Day weekend.

Those were 3 day weekends.

With Thanksgiving, it will be 4 days with no deposits.

How low do you think Bitcoin will fall?

Who could possibly want to hurt Bitcoin?

Only a small portion of the Bitcoin pie is traded on the exchange. If a large chunk (say $500k) is used just for manipulation, it manipulates the whole currency worth over $10 million.

A 3 level p2p retail distribution system. All transactions made in Bitcoin.

Level 1 - wholesale bulk purchase coordination

Level 2 - shipping and receiving

Level 3 - retail sales


What does this mean? You create a p2p to support all three levels.

Level 1: Everyone runs a program on their computer. It has an input for a wholesaler with prices. People click on products they are willing to invest in, with a desired return on their investment in time and percentage. Once enough people invest in an item and a bulk order is reached, the purchase is sent through and it goes on to Level 2.

Level 2: Someone with storage space pulls up a program and allocates amount of space along with length of time for storage and price for shipping and handling. Products from Level 1 are shipped to the person to hold until product needs to be shipped as part of Level 3.

Level 3: Pull up the program and see what is for sale. You add those items to your website taking into account percentage of return on investment for Level 1, cost of shipping and handling for Level 2 and whatever profit you want from the sale. You sell the item, send off payment to Level 1 investor and send off details and shipping and handling fees to Level 2.


At full success, this allows for lower prices and faster shipping as more distribution centers pop up all over the country.

See: cheaper than Walmart.

The selling pattern is not that of someone who wants to make money, but of someone who purposefully wants the price of Bitcoin to go down.

Someone who had a lot of Bitcoin that they would want to maximize their profits from would sell at times when people have money in their Dwolla/MtGox accounts that could put money into BTC to buy up their coins.

Instead they do huge sells on Sunday night/Monday morning when people have gone all weekend without having their accounts re-upped with cash.

Someone wanting maximum return would also sell in small quantities in order to avoid panic selling before they can get the maximum amount from their sales.

The person who currently has a $50,000 wall at $2.10 is the person driving the price down.

Give name and address of seller to the buyer. If not satisfied...seller's house gets burned to the ground.

Problem solved.

 

The only thing "the manipulator" wants is for the price to go down. There is no profit motivation in the way that he sells.

He sells on Sunday night/Monday morning knowing that most MtGox accounts do not get filled after the weekend until Monday evening.

If it was someone wanting to drop their BTC they would wait until during the week and drop in small portions when the price is high and people have cash in their accounts.

Makes me think of something someone mentioned where they had a conversation with an NSA friend of theirs who said that Bitcoin would be gone in 2 years. The government already does market manipulation, they would not need much to destroy Bitcoin from a financial perspective.