...I have heard that the PRC is starting to see some inflation...
Inflation is rough there. From May 2011 to December 2011 the inflation on basic foods was up 5-10% in the same markets. Isn't the interest rate also high out there? The actual interest rate is indeed very high. But you'll have to know the right place to invest first. A lot of people can't get loans anyway though. They borrow from family. I don't see many people getting loans as the housing market is slowing down in China. In Guangzhou they have cut some prices by 75%. |
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Wasn't Martin van Buren the first US President that was actually born a United States citizen?
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I stopped using Dwolla after Paxum ran away.
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I would like to see selling directly from the mining pools.
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This thread's purpose is to discuss the issues that reside with Mt. Gox being 95% of the entire volume of BTC traded as well as possibly a large portion of merchant solution services.
This in my opinion can be bad for bitcoin if Mt. Gox were ever shutdown in its corporate structure (if it has one).
Centralization of services for bitcoin is not a good thing. It gives less options to choose.
Anyways...just by 0.02 BTC...
Well getting away from centralization is the opposite of how networks naturally evolve. In almost all networks, from electrical distribution systems, website linkages, " Six Degrees of Kevin Bacon", and the bitcoin network itself. Many networks are scale-free small-world networks and I don't think bitcoin is any different at this stage. If you want a less centralized network, what you are saying is that you want a network where a few hubs do not have most of the connections. It would take a lot of work to change our ability to form centralized networks. Maybe a P2P exchange would work. |
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User name (can't remember spelling -- something like "Alvarin")
Allinvain ironic choice of name. |
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...I have heard that the PRC is starting to see some inflation...
Inflation is rough there. From May 2011 to December 2011 the inflation on basic foods was up 5-10% in the same markets. |
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This is the gayest thread I've ever seen.
That said, you don't force slang. We already have our own slang. If you didn't know about it, it means you're not in the loop.
We already say "Zhoutonged" for when someone gets their balances evacuated on Bitcoinica for example.
Konichua has been Wrighted |
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So, there is no political will to reduce the US budget deficit and hyperinflation is a real possibility. The government and fed must have a plan for how to deal with this. What is it? One interesting (conspiracy) theory is that of Red Money. Basically it is the idea that the government has already printed trillions in "red bank notes" that will be used to replace and debase the value of the USD at whatever ratio is deemed necessary. Anyone not wishing to deposit large amounts of green notes into the banking system would be forced to spend it all within a few months, thus "stimulating the economy." A variation on this idea is that the red ink may be time sensitive so a red bill will become worthless after a certain amount of time. This would force people to keep their money within the banking system (electronic dollars would not devalue over time except due to inflation). http://brucekrasting.blogspot.com/2010/07/red-money-conspiracy-theory-11.htmlEdit: This was supposed to be in "economics", how do I move it? Check out When Currencies Collapse by the Foreign Affairs |
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Liquidated my long position when the profit was showing $3.72 or 3.760% with a swap of -$0.13.
I'm now holding no position with 105.20559 USD in my account.
Stochastic: sorry I didn't get around to replying earlier.
As you point out, no system will turn a losing strategy into a winning one. This is a losing strategy. That's kind of the point, actually. I'm a complete moron when it comes to trading, but you don't have to take my word for it - the strategy I'm applying is also completely moronic. It's a monkey's trading strategy.
The speculation forum is full of, well, wild speculation and curious methodology. I'm providing a base to compare against, a guaranteed bad strategy. If you can't beat me, you should get out of the game.
In case you are still interested here is a link to a pdf download of a money management book. |
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+1 and it would be a great place for announcements or wanted features.
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I'm sure this idea has been played about before here but to lazy to search around on here but what if there was some sort of Bitcoin Business Insurance? In other words, the bitcoin business front's a certain amount of bitcoins to insure he/she is serious about doing bitcoin business in this community. In other words, some new bitcoin company comes along and doesn't know how to "gain any trust" ( looks overwhelming) can at least rest assure anyone he does business with that he has enough coins to compensate them for whatever happens. So it would be transparent - a certain amount of coins for the public to see against their business - if they decide the run and there are people effected by this people can issue claims and have funds released. I don't know just trying to see how we can introduce more trustworthy business to our ecosystem!  obviously, by my handle here I'm interested in this stuff! haha I have been thinking about this a lot too. How to insure people's money when no one trusts each other. Bitcoin is a system that allows people to exchange money that don't need to trust each other. Maybe a better way is to set up an exchange that allows bets by the community on the likelihood of some type of business failure (ie, wallet theft, business incompetence, or outright scams). For example, lets say I put some money into Bitscalper, but I am hesitant because I don't trust them. I buy a bet on the website that says that Bitscalper will fail. There needs to be clear contractual agreement of what constitutes a win when the business fails. Anyway, say I have 100 bitcoins in Bitscalper and I insure 0 to 100% of those bitcoins. A speculator bets that Bitscalper wills stay solvent so they take the bet. The market needs to stay liquid enough so that if I close my Bitscalper account I can also sell back my bet to the market since I don't need it anymore. People may not trust anyone else, but they sure like to speculate. I do like the idea as you are right people love to speculate. Probably could bring that over to that bitcoin betting site that lets you bet on everything forget the name of it. You could still speculate if you wanted to "add" to the bitcoin business's deposit amount because you have confidence they will remain. Maybe in return , if they are there 6 months later you get the excat amount you put in 1 to 1 - so you add 10 btc to the 100 btc the business put up. In 6 months, you get 10 of that 100 btc for being right and the company has to front another 10 btc thus you start seeing a community rallying around the success of a company. Good thinking! Another good thing about doing it this way is that this is not considered gambling. Since risk already exists by someone putting their money in a bitcoin financial company, that risk is just being transferred to someone else in exchange for a cost. Something is considered gambling if risk is created like when someone goes in a casino and bets on a craps table. The act of betting is creating risk. The below quote better explains the process of insurance betting, but in my case I am suggesting to allow institutions and individuals to use them. insurance derivatives base their value on a predetermined insurance-related statistic. For example, an insurance derivative could offer a cash payout to its owner if a specific index of hurricane losses reached a target level. This would protect an insurance company from catastrophic losses if an exceptional hurricane caused unforeseen amounts of damage. |
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We MtGox and competitor exchanges needs to find a common ground on this and send a VERY clear and unambiguous message to the less tech-savy people out there that coins stolen or not, should never be declined at any exchange. Unless we MtGox does that, bitcoin is screwed.
I have already switched to OTC transactions. |
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I do like the idea as you are right people love to speculate. Probably could bring that over to that bitcoin betting site that lets you bet on everything forget the name of it. You could still speculate if you wanted to "add" to the bitcoin business's deposit amount because you have confidence they will remain. Maybe in return , if they are there 6 months later you get the excat amount you put in 1 to 1 - so you add 10 btc to the 100 btc the business put up. In 6 months, you get 10 of that 100 btc for being right and the company has to front another 10 btc thus you start seeing a community rallying around the success of a company. Good thinking!
I don't think the business would even need to put up money. A person that opened an account with a bitcoin financial service company wants to insure their money. That person just wants to lower their risk. A speculator is willing to take that risk in return for a potential profit. The "insurance company" makes standard contracts that expire every quarter. They can also help out their customers by rating each company to give their customers a better idea of the solvency of the company. Some people may not get insurance, but if they get burned by a scam company everyone can say, "you should have gotten insurance!" |
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but not the Chinese government.
I guess many people feel the same way, but haven't spelled it out yet.
amirite?
To zhoutong: Have you explored possibilities to get bitcoinica under a jurisdiction where collecting personal information isn't required to that extent?
Are you kidding? Do you think China would look at the paperwork? Every time I go to China there are two lines to follow when going through Chinese customs. One green line for no declarations and a red line is for declarations. There is no point in going to declare any items because the line just ends up in the no-declaration line anyway. As long as someone doesn't endanger the thugs that run that country, a person can do whatever they want. |
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The question is, what happens when those stolen bitcoins are exchanged long enough that an unsuspecting person ends up with them and then deposits them into their Bitcoinica account. Will they be confiscated? I don't think Bitconica would do that but the thought is creepy.
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I'm sure this idea has been played about before here but to lazy to search around on here but what if there was some sort of Bitcoin Business Insurance? In other words, the bitcoin business front's a certain amount of bitcoins to insure he/she is serious about doing bitcoin business in this community. In other words, some new bitcoin company comes along and doesn't know how to "gain any trust" ( looks overwhelming) can at least rest assure anyone he does business with that he has enough coins to compensate them for whatever happens. So it would be transparent - a certain amount of coins for the public to see against their business - if they decide the run and there are people effected by this people can issue claims and have funds released. I don't know just trying to see how we can introduce more trustworthy business to our ecosystem! obviously, by my handle here I'm interested in this stuff! haha I have been thinking about this a lot too. How to insure people's money when no one trusts each other. Bitcoin is a system that allows people to exchange money that don't need to trust each other. Maybe a better way is to set up an exchange that allows bets by the community on the likelihood of some type of business failure (ie, wallet theft, business incompetence, or outright scams). For example, lets say I put some money into Bitscalper, but I am hesitant because I don't trust them. I buy a bet on the website that says that Bitscalper will fail. There needs to be clear contractual agreement of what constitutes a win when the business fails. Anyway, say I have 100 bitcoins in Bitscalper and I insure 0 to 100% of those bitcoins. A speculator bets that Bitscalper wills stay solvent so they take the bet. The market needs to stay liquid enough so that if I close my Bitscalper account I can also sell back my bet to the market since I don't need it anymore. People may not trust anyone else, but they sure like to speculate. |
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No more shorting? I'm asking, I honestly don't know.
afaik that have nothing to do, is more like this if i buy or sell 100 btc then 98 will go on mtgox, before that hax with a volume of 20k the hedge was only 37% so only 37 btc from 100 i buy or sell will got on mtgox Maybe the % hedged was out of all available bitcoins Bitcoinica had. Now that 40,000 have been heisted, the percentage is higher as there is less total amount of bitcoins. |
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Is it possible or will be possible in the future to withdrawal Chinese renminbi from Bitcoinica? I see they allow deposits using Alipay, but no withdrawals yet.
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