Also instead of 5 posts or 4 hours another member with at least 200 posts can "vouch" for a newbie. His account is then tied to the newbie's and if the newbie gets banned then the vouching member gets banned.
What's the incentive to vouch in that case? |
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Someone selling 20k+ coins at once, we don't know why.
Maybe he couldn't buy the villa with Bitcoins yet.
How do you know that a 20,000 coin sell would caused the price drop of $8? The charts show a straight line down, if it goes down in one go it was one big selloff. Seems like there are still several smaller sell-offs going right now, if you watch them at http://bitcoinity.org/markets/mtgox/USD you can tell that those are most likely single-selloffs. Damn that's a nice site, thanks for the link. That's what I wanted - ACTION on a lazy Sunday afternoon! |
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Alright, I am taking your suggestion to convert my sweet to sugar, so here's to the logo  Wallet: SGbVvustWxqNKq8mVFM4kmNQ1F46YBbmxJ So sugar is in your wallet 50 more send  Thanks! Now, if I can only figure out how to Sync my damn wallet on Windows 7 |
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I have some questions for miners and traders.
1. As more and more Companies see BTC threatening to their business.
I stopped reading here. What? Why? It is just a payment system, it doesn't threaten any business (it does challenge the governments by bypassing the official currency routes that can be taxed). Businesses can adopt Bitcoin if they want as an alternate to their existing payment systems. OK can you answer me this question , how does PayPal make money ? Fees |
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Was the order completed or is it still in progress? If it is completed, I don't see why there should be huge movements after the fact, unless some story comes out about the reason for this.
In my mind, a big sale like that moves the market down, which stirs both fear (will it drop more?) and greed (yay, BTC is on sale), thus more volatility as more people trade. Good point. Since BTC isn't that liquid anyway, I guess the equilibrium will be harder to reach between these two. If the same thing happens on say a stock market, the equilibrium will reach very quickly and price will stabilize, either up or down. |
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Are you talking about liquidity or leverage?
Liquidity is certainly essential for easy transfer of money. It also opens up several new forms of businesses within the broader economy that couldn't have existed without liquidity (for example, something like a Bitcoin faucet could never exist without a very liquid currency). Also, if the currency is liquid, the premiums go down (on exchanges for instance) for buying and selling that currency either through other currencies or through goods/services produced.
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someone sold 20,000ish bitcoins a few hours ago at mtgox - expect plenty of action over the next 24 hrs
Was the order completed or is it still in progress? If it is completed, I don't see why there should be huge movements after the fact, unless some story comes out about the reason for this. |
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Should be interesting to watch. Perhaps a good time to buy now, if the large block has cleared already?
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I have a few questions - 1. How long did it take you to go live from the moment you decided to start the site to when you accepted the first payment? 2. How much of 'reserve' money do you have in case someone has a lucky streak for longer than you'd like? 3. What's the value of bets placed every day (approx)? 4. What's your estimate of the amount of money it would take today to hire a programmer who could make a similar site? 5. Do you have an affiliate program? |
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I have some questions for miners and traders.
1. As more and more Companies see BTC threatening to their business.
I stopped reading here. What? Why? It is just a payment system, it doesn't threaten any business (it does challenge the governments by bypassing the official currency routes that can be taxed). Businesses can adopt Bitcoin if they want as an alternate to their existing payment systems. |
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Yes, ruletheworld and your point being? As my comment states, newcomers don't have an easy time of it. We are too late to mine, don't have shares 'generating' bitcoin as dividends, only have cash/credit-card/PayPal as options to buy. Trying to get large volumes of coins quickly is not easy. Why did mineforman go out of his way to help people acquire bitcoins for his group buy? But I have confidence in the currency, especially with seeing protests on the BBC this morning in many parts of the world against government 'austerity' measures. What is austerity anyway... Gov just deciding to work within their budget? Why are so many reliant on government jobs or handouts? Why not get a real job like the rest of us. But that is another topic altogether, and probably not a popular opinion. Whats to stop a government making a NATIONAL Pool to try to grab a large slice of the bitcoin mining.
I think a lot of people find it very difficult to get 'cash' of any kind converted to bitcoins.
A recent exposure to the 'group buy' setup in NZ for some of those ASIC usb sticks has shown that there is interest in purchasing via bitcoins, but no easy way in short notice for newcomers to get hold of bitcoins.
Umm, more than half the Bitcoins that will ever go into production are already out there in the hands of people (about 11 million out of 21 million). My point being it isn't going to be easy for any government to to set up a massive mining ring and try to manipulate Bitcoin. The Bitcoin network already has more processing power than the top 500 supercomputers. Even if cash is the only option to get Bitcoin now, it's value is purely supply-demand based. How do you know we are too late to the game? It is hard to predict the future demand for something like Bitcoin. |
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Alright, I am taking your suggestion to convert my sweet to sugar, so here's to the logo Wallet: SGbVvustWxqNKq8mVFM4kmNQ1F46YBbmxJ |
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I've had mixed results using Anonymous Ads, honestly. I use it on two of my blogs now. The first has done quite well, and I reached the payout of BTC0.01 in about a week on traffic of about 70-80/day. However, on the second site, the payment seems to be extremely low. My stats show that for 109 impressions, I have earned 412 satoshi. At this rate, it will take me forever to reach payout. I don't even know why there is such a huge difference in any case.
Also, I assume that when an ad is unavailable, it doesn't count towards the impressions? Because the second site I mentioned has fewer ad impressions than page impressions.
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Since you think Iceland is 'anti-bank', it's currency should be the reserve currency?  Iceland is not anti-banking. If it were, it wouldn't be in that mess in 2008 in the first place. Also, you probably don't even need a Bill Gates to buy up all the Icelandic Kronas there are in the world! BTC though is a completely different animal and yes, it can certainly be the reserve currency of the world quite a bit into the future. Not sure we are ready for it now though. |
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Whats to stop a government making a NATIONAL Pool to try to grab a large slice of the bitcoin mining.
I think a lot of people find it very difficult to get 'cash' of any kind converted to bitcoins.
A recent exposure to the 'group buy' setup in NZ for some of those ASIC usb sticks has shown that there is interest in purchasing via bitcoins, but no easy way in short notice for newcomers to get hold of bitcoins.
Umm, more than half the Bitcoins that will ever go into production are already out there in the hands of people (about 11 million out of 21 million). |
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When the system collapses in two years (lol) bitcoins will becomes worthless as there will still be nothing to buy with them. In the meantime buy some postage!
Postage? What the hell am I going to do with pos ... Ah I see what you did there  |
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Credit is a hard concept in the Bitcoin economy. That being said, lending isn't that terrible. Go back to the basics -
If a bank uses only Bitcoin, then this is how it will make money: through a spread between savers and lenders. That's how traditional banks are supposed to make money too. People deposit their Bitcoins in the bank for safekeeping and they get some rate of interest. If you're borrowing Bitcoin from the bank to start a business, say, then you need to pay back a higher number of Bitcoins. The bank keeps the difference for taking that risk. Same concept as traditional economy.
Remember currency is just the medium of exchange. The total wealth of the world can keep increasing irrespective of the currency.
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Sweet deal!
Wallet: SGbVvustWxqNKq8mVFM4kmNQ1F46YBbmxJ
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