With Intersango UK bank account being closed I need a new GBP withdrawal method for funds to my UK bank account.  Using the MtGox withdrawal wizard it offers me to either enter my IBAN or SWIFT/BIC code.  I have both IBAN and BIC codes which method is the cheapest and fastest and how much does it cost.  HSBC tell me to use both IBAN and BIC codes together - http://www.business.hsbc.co.uk/1/2/international-business/iban-bic - but MtGox offers me the option to enter one or the other.  Also MtGox have a UK Barclay account why can't they process UK GBP withdrawals with that.  Thanks for any advice in advance.

Hi I have some old "secured" deposits that are no longer "locked-in" and I haven't withdrawn.  Does that mean they are still earning interest at the original offer?

No, he would only need to generate 51% of all blocks to be able to repay all his debt with 1BTC. 51% with asics is fairly trivial right now.

hm...

BTC owed 500,000
Interest per day BTC 5000
Generated BTC per day 6x24x50 = 7200

So he would only need to generate 69% of all Bitcoins to make good for the interest, without paying back anything of the debt.

Some people will try to win a bet at any costs.  Even if it means shooting yourself in the foot.  To win a bet and keep face means a lot more than the prize of the bet to many a man.

I think he's going to pay in full with all interest the day that bet he made expires.  It's funny this forum as a few months ago anyone who called Pirate a ponzi was belittled and now anyone who say's its not is belittled.

I can't remember the ins-and-outs of the bet.  Ask "Vladimir" he was the one who made it with him.

I think he's going to pay in full with all interest the day that bet he made expires.  It's funny this forum as a few months ago anyone who called Pirate a ponzi was belittled and now anyone who say's its not is belittled.

LOLZ.  

Pirate debt has increased by 52,303 BTC* just in the period of time since he ended the operation.  That is $549,270 at current exchange rates.  Even if he was profitable and could afford the interest obligation while operating, since shutting down he racked up another half million in debt.  In another five days he will have racked up over a million USD in additional debt since the shutdown.  His interest only obligation is now $57,993 per day or $40.27 per minute.

All that ignores the fact that the debt is legally unenforceable (violates usary laws in the US) and that BTC can be hidden from a judgement with trivial ease.  So the debtor can't be collected against and has 40 new reasons every minute to walk away.  Of course that even assume he could pay if he wanted to but it is increasingly obviously he can't.  Even if he could only pay say half doing so would save him almost $30,000 per day in additional interest yet he hasn't.  

So please, humor me I am just curious at which point will you no longer "expect a full reconciliation to be made"?  Another week (when he now owes ~$6.3 mil USD), another month (when he owes ~ $8.2 mil USD), 180 days (when he owes ~$46 mil USD)?



* Based on the claim by Pirate that the "trust" had 500K BTC when he shut it down.

Thanks.  If you add payouts in alt-coins on your P2Pool pool you can definitely count me in once I have my ASIC's.

Your views are so distorted on mining and bonds its ridiculous. Mining is more profitable right now, then it was this time last year. A bond worth 10mhash pays just as much as mining 10mhash yourself. Bonds hold their value when the btc price changes just like mining equipment.

Holding the price of a mining bond at a set btc amount or having dividends paid that way is ridiculous. If you don't think so write up a contract that way. Even if it was possible, there would be nothing safe about having your initial investment or dividends always hold the same btc amount. If the price of btc dropped down to 6 dollars you would have lost half your investment. If the value of btc went up, who would buy that bond? Not the issuer, he spent your investment on mining equipment to pay your dividends. Since the btc price went up he owes you more then that equipment is even worth now. With the increased price came increased difficulty, now he can't even pay dividends and is about to default on the contract.  No one else is buying your bond either, your asking way to much for it. They decide to buy the bond from the new issuer like yours, except that it came out after the price went up. Of course this is assuming anyone would be stupid enough to purchase them in the first place.

I agree buying a fixed MH/s rate perpetual bond in bitcoin mining doesn't make sense with the long term trend in increasing network difficulty hash-rate.  That's why at RSM - https://bitcointalk.org/index.php?topic=63257.0 - you own actually own a share of all the hardware, wallet and anything else of value.  With us also saving between 90% to 50% of mining profits (to be decided by motion) to purchase more ASIC's to increase the MH/s a share-rate to beat the long term trend in growth increasing network difficulty hash-rate.  Meaning our share price value shouldn't decrease on the long term trend of increasing network difficulty like fixed rate bonds but actually grow and with that you will get a weekly dividend.