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Today I saw a Gandalf scarf, the type that is going to be used in the new Hobbit movie. While I only saw a sample (narrower than the real thing) it is 4 meters long and looks awesome with a reflective thread in it. Not sure how much they would be, but if there was interest I can get some for sale in bitcoin.
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Well, it's gone from this side of the world - says one confo currently.
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Ok, maybe not the best paying contract, but it looks interesting. I'll take the 120 day, 90 BTC challenge.
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So TL/DR
A futures deal only make sense if an exchange exists because the exchange providers counterparty insurance, liquidity, and leverage.
I'll disagree with some points - mainly: You don't need an exchange - that helps trading contracts, but OTC futures are bilateral. Usually futures require an initial margin - an upfront payment, and margin calls to manage settlement risk. Many cases you can be prepared to pay >$x if the price is $x now - reasons include time use of money/cost of funds, or even costs of storage. As for the poor farmer example I agree - it can work against you too. Funding cost of production ($3) in the hope of an $8 payoff crashes and burns when the drought wipes out the crop. In order to satisfy the contract they might need to by at $20! (based off a real example - farmers on wheat contracts walked off their land and simply defaulted.) |
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I've been doxed!!!!!!!!!!!!!!!! Fuck you buddy!
sorry, that's too on topic - lol  |
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This might be off topic, but should I lie awake at night worrying if Randy Folds is actually the new Miss America in disguise - it is probably a cover for his day job as Eli Manning.
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Hi Pirateat40, This thread was just too big. So, I asked my question in a new thread. Besides, First Pirate bank is just too big now - it surely deserves multiple threads. Will you please look at this question and respond there? https://bitcointalk.org/index.php?topic=58542.0I had also sent you a private message earlier asking how to start. I'm still interested, of course, but was hoping you could address these questions, that I'm sure many members of the community must wonder about as well. Thanks, I'm not going to be managing multiple threads. If you're to lazy to go through my thread to get the information you need, I am simply to lazy to respond. I just woke up, I'm GRUMPY  +1 Don't invest if you're not happy. P@40 is free to do what he wants and has chosen to do it a particular way. He has no need or obligation to explain. |
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Does that mean a complaint to the banking ombdusman is now required?
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Using Bitcoin for currency exchange - I have payments going into an account in one country and rather than paying 5% fees to a bank, am moving it in coins. Going to save me about US100 this month.
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I used ecardone for my first LR transfer back in June, and I've used local service a couple of times as well. Have you looked at the ratings/comments page for the different providers?
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Sorry, I was waiting for it - and I have an alert link to the web page. Not planning on picking up the next one.
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It is many people buying, and for different reasons. OP logic is flawed - sorry.
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Thank you Mathew for your perspective. Yes, this might all end badly and I have considered the risks if this particular investment, hence I have not poured everything I have into it, just some and incrementally (thanks Pirate - taking up some of the updated storage).
I didn't consider your post a "troll" at all, but I do need to check the bitcoin awards to see who got the 2011 prize.
I don't think "Worst Troll" made it into the final awards, but I do think "Atlas getting banned" made the best community effort lolz I just checked the results - I see you got #2 spot behind Phinnaeus |
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Thank you Mathew for your perspective. Yes, this might all end badly and I have considered the risks if this particular investment, hence I have not poured everything I have into it, just some and incrementally (thanks Pirate - taking up some of the updated storage).
I didn't consider your post a "troll" at all, but I do need to check the bitcoin awards to see who got the 2011 prize.
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They would only have to borrow more money from China to do it. Nope, the gov has gotten smarter than that. It's called quantitative easing.... essentially creating money out of thin air. It is too expensive to borrow from China. This is what my econ professor once said: US borrows $100 from China, and pays 5% interest rate. US use that $100 to buy $100 worth of raw materials from China. US then use that $100 worth of materials to print $100 bills. It costs $0.02 to print one $100 bill. The US then repays China 5% interest, using the $100 bill created using $0.02 of materials. The cost for US to borrow $100 from china at 5% rate is thus calculated as $0.02 x 5% = $0.001. And how does the US pay that $0.001? You guessed it, the US borrow another $100 from China, to buy $100 worth of materials, and to print $100 bills that cost $0.02. There, he said that is why US cannot go bankrupt, as long as USD is the world reserve currency. Good thing USD is not currency reserve, and USD would become worthless - simple international purchasing parity economics. hmm, price has gone down 20% while I was drinking - must be time to buy some more coin. (edit - missed the % sign - fixed now - Finlandia - mmmmm) |
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I'm awake again - lovely sleep - nothing happened in the bitcoin world worth worrying about that my pre-set orders didn't take care of.
What exchange are you on, for those pre-set orders? Mt Gox is not a big help in that way. ?? if you have a view about where the market is, you set buys and sells at prices you want to trade at. I have a trading plan and stick with it - works for me. Too many knee-jerk reactions costs money while patience and nerve also helps. As a personal preference, I don't trade on Gox - I worry too much about getting funds out, no terms of service, and their casual disregard for users. |
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I'm awake again - lovely sleep - nothing happened in the bitcoin world worth worrying about that my pre-set orders didn't take care of.
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Do some reading on the forums - some consider it safe (see previous post), others don't trust them as there are mixed experiences.
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Just FYI bitcoin transfers i.e bank wires are being carefully watched by interpol, an internal memo has been circulated to gather intelligence and profile high value bitcoin transactions.
I have Interpol and 175 other security agencies on my list. |
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Learn to sleep.
I've traded things more volatile, and that I could have lost my house on.
Sure, it wasn't pretty watching my large $15 buy in back in June fall to $2, but I'm in the black with an average price around $5 after six months of trading. Happy to watch this for a long time yet.
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