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1101  Economy / Trading Discussion / Re: The magic of mtgox and international banking system.. on: March 24, 2012, 12:54:45 AM
I do international transfers reasonably frequently.

I normally lose:
$20 to initiate
4% in exchange costs (from the mid-point)
$20 at the receiving end

They are expensive and impractical for small volumes.

A similar example: I recall while on holiday a few years back a tourist from the USA complaining about the exchange rate.  They exchanged US$100 but didn't think the $10 fixed fee would reduce the value of the exchange (he was an idiot). 
1102  Economy / Service Announcements / Re: {ANNOUNCEMENT} WBX Exchange Frozen on: March 23, 2012, 09:11:16 PM
i just can't confirm anything until the investigation has completed  for me it's now a legal matter that is out of my hands now and i am restricted in what i say here.
Because of sealed court orders, or because of your lawyer's recommendation?
There is a "thing" I recall was introduced about five years ago.  Can't remember exactly the reference but it had name like a "section 19" order.  The lay version is:
 - you're under investigation, but not charged with a crime.
 - you can't tell any one why you're being investigates, or even that you are subject to a S19 order.
 - if you do, we can lock you up

As for the location thing - Australia is only 4 hours away and a couple of hundred dollars for a ticket.  Running claims isn't a hurdle.
1103  Economy / Lending / Re: [WANTED] 10,000 BTC loan - LONG TERM on: March 23, 2012, 09:13:56 AM
Interesting (and thread noted).  Certainly no commitments today, but it is only 10,000 coin

"Only" 10000 coins ?

Are you being facetious ?


Not completely.  But concentrating it into one spot like that is not the typical credit risk of this forum.

(As disclosure, I have a small, short-term loan from znort because it was easier doing that than moving a few thousand $$ into coins this week.)
1104  Economy / Lending / Re: [WANTED] 10,000 BTC loan - LONG TERM on: March 23, 2012, 07:02:38 AM
Interesting (and thread noted).  Certainly no commitments today, but it is only 10,000 coin.  Allowing for a longer dated lower rate of interest once things settle down, shorter term is still much more expensive, and 12 months will net high yield, but I am not doing that yet.  Six month bonds may yet still pay reasonable rates and I'm considering those for late April.  Thus, initial reaction is way too low on the interest rate - interesting does not equate to simple profit.

Mr Serious (those that know will understand)
1105  Other / Archival / Re: Bitcoin Rig Warehouse Project (Finance People + Bitcoin Miners) vs. Time on: March 22, 2012, 08:47:29 PM
http://en.wikipedia.org/wiki/Electricity_pricing#Price_comparison

Iran, Pakistan, Iceland and Ukraine looks like they have it for cheap. Out of those, I'd say Iceland must be the most suitable for a large-scale mining operation. Cold weather year-round, cheap electricity, stable country.

Iceland would be interesting as there is a severe currency exchange restriction in place (around $3000/yr when I last read about it).  Might be ok as a limit for John Doe but for multinational corporations it bites.
1106  Economy / Lending / Re: [WANTED] Secured Loan for Apartment Deposit on: March 22, 2012, 07:46:29 PM
Other than the interesting use of the character sting "brang", there are a few people that would take 4000 coins from you and pay interest.
1107  Economy / Long-term offers / Re: Starfish BCB - Loans and Deposits (deposit rate 1.5%/week) on: March 22, 2012, 07:21:05 PM
Jarsumaru asked me to record the basic details here.  He intends to deposit 300 coins for around two weeks (so I expect to receive the coins sometime today (23Mar) and repay around 7Apr depending on his requirements.

As for a normal deposit, 1.5% interest rate / week, compounding, on-call.  It will commence 12:01 a.m. local on the day I receive funds and compound until the time it is repaid.

I will edit/confirm when coins are received.
Edit: 9:00 a.m. UTC + 13 - coins received
1108  Economy / Economics / Re: Bonds and other economic ideas on: March 22, 2012, 03:07:15 AM
I thought that might have been part of the idea, but if you mine a "bond coin" for delayed gratification with a payout x-months down the track, that could be one hell of a monster.  Might be ok for an opt-in solo miner, but for a pool operation?  "Mine for HJK-pool and get paid eventually some coins and more."  Sounds weird.
1109  Economy / Service Announcements / Re: {ANNOUNCEMENT} WBX Exchange Frozen on: March 22, 2012, 02:47:57 AM
In the US, I believe it is a requirement for a bank to provide you your funds by cheque if your account is closed or suspended for any reason. Is this not the case here?

Was just reading some of the terms and conditions - without knowing the status or reason for the account being blocked, there are too many possibilities.  if the account was simply closed, they would have mailed a cheque.
1110  Economy / Economics / Re: Bonds and other economic ideas on: March 22, 2012, 01:26:28 AM
I wouldn't normally respond to a question like this, but suggest you spend some time reading the "lending" thread.  Bonds already exist in various forms ranging from call deposits to fixed term facilities.  There are also bond offerings on GLBSE.

In cryptocurrency terms, they have been around quite a while.
1111  Other / CPU/GPU Bitcoin mining hardware / Re: Power Button on Open Rigs? on: March 22, 2012, 01:23:03 AM
I have one case where they supplied a power panel extention (the main board switch is under a gpu).

I used keys/screwdrivers for a long time on several, then I found packets that are basically a front-panel kit.  power switch, reset, red led, green led and speaker on 4cm wires - I plug them onto the main board and they work very reliably. 

I'll be picking up a few more packets when I get to the Yodobashi store in about a week.  (plus anything else that looks cool and fits in the suitcase that I can't get locally)
1112  Economy / Trading Discussion / Re: How do you split fees between buyer and seller on a stock exchange? on: March 22, 2012, 01:11:33 AM
Basically I agree with Psy.  Have a hunt around any broker site and you'll see how they do it.

Both buyer and seller normally pay, and that is taken in the operating currency - in this case BTC.

The rate you charge is the tricky issue.  For example, my stock trading I face a $30 + 0.3% fee so anything too small and it is uneconomic.
1113  Economy / Goods / Re: Titan land sale on: March 22, 2012, 12:52:09 AM
http://www.unoosa.org/pdf/publications/STSPACE11E.pdf

Also note that States or Governments can not own, but individuals attempt a loop-hole ownership.  However, demonstrating "intent to occupy" normally invalidates claims.
1114  Other / Off-topic / Re: Off-Topic Islamic Quiz - 4 on: March 21, 2012, 11:34:08 PM
you got 4 questions wrong while most got only 2 wrong, the winner got only 1 wrong

I'm not complaining.
1115  Other / Off-topic / Re: Off-Topic Islamic Quiz - 4 on: March 21, 2012, 11:16:48 PM
q2: My reference for the Battle of Hattin suggests the captured Templars converted, meaning many.  Head of the list would have been the commander Saladin.

Saladin was never a member of knights of Templar, he didnt convert to islam, he was already a muslim.

johnthedong got only one question wrong (question 2)

need to improve google skills !

That's ok.  I was doing this for entertainment.

q2: It did appear that several Templars converted, and it did not reference any one in particular (at that place)
"Two days later a few of the captured Templars and Hospitallers accepted an offer to convert to Islam."  http://www.ahrtp.com/MedievalWarfareOnLine/knightstemplar.htm - an interesting read.

For q4 I was reading about a 1st assassination rather than murder.

I think I'll also re-hunt up some of the evolution of the religion from north Africa as it moved across to Arabia and the importance of Muhammad with respect to the pre vs post Muhammad periods.

P
1116  Other / Off-topic / Re: Off-Topic Islamic Quiz - 4 on: March 21, 2012, 10:25:41 PM
This post has no particular information content, just wanted to add some fine print while waiting for the official list of answers.
1117  Other / Off-topic / Re: Off-Topic Islamic Quiz - 4 on: March 21, 2012, 07:15:22 PM

Hmm, interesting.  The Offa coin was an imperfect copy.  Certainly the other side would reveal the name clearly as the copied coin had both Islam and English text.

next time please just post answers without comments Smiley , even with google some might get the answers wrong and so you have higher chances of winning.

Its interesting to see some are copying the answers, and some are not.


Hmmm, that might be the case, but then I'm doing this for entertainment rather than the prize (and this time I excluded references), but the rules have not excluded comments yet.  Smiley
1118  Other / Off-topic / Re: The QR-Code Face on: March 21, 2012, 07:24:08 AM

Who's face do you see in the QR-Code above?

I see Speed Racer.


Are you off the meds, or had too much to drink?  It's scary to think you see something meaningful in that random bunch of badly pixelated black and white squares.
1119  Economy / Goods / Re: Titan land sale on: March 21, 2012, 07:21:11 AM
Why are you selling land on my lump of rock?

i.e. proof of ownership please
1120  Economy / Service Announcements / Re: {ANNOUNCEMENT} WBX Exchange Frozen on: March 21, 2012, 07:07:29 AM
I propose holding on to the BTC until the situation with the bank becomes clear.
It is for this reason that I advised you privately not to distribute the bitcoins in any way that was related to the AUD. Due to the price fluctuation of bitcoin, waiting on the AUD is the only reasonable way to combine the remaining funds and distribute them evenly. Of course, it's not my call.

Given the dollars at stake, and the threats for legal action for recovery that are mentioned elsewhere in this thread, no funds should be distributed, BTC or AUD. 

I know the cost of legal work in Australia and am currently awaiting advice from my lawyers there on a similar matter.  Also, I know how the Corporations Act and other statues operate, so commend Chris on the stance taken to date.  More communication is better than none.
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