Well ...

....

S A T O S H I N A K A M O T O

There's your proof *







* everybody knows satan can't spell

-Burger-

Of course you say this, because you have been one of the biggest anti-bitcoin posters on here.
Here's how my morality goes when it comes to talking shit:
If the person was a *dick* about it, then I retain the right to rub his face in it later.
They've all been arrogant, twattish, cum stains about it.   100% of them. 
They've mocked, belittled, and acted like we are fools.
Therefore I will refrain from handling the 'I told you so' phase with any modicum of respect.

So perfect.

Especially how he gets angry about all the letters and symbols in the email address.   100% perfect parallel to people and Bitcoin addresses.

The irritation in their voice about how convoluted and difficult it feels for them.

How its nature is confusing and unclear to them.   And how they mock it, belittle it, and get angry about it.

I created the thread you're running a parody of here, and those are all good points.

I had planned to jump in here and play devil's advocate again, pointing out that the Internet has obvious benefits from the start ... tons of conveniences...

But in reality, at *this stage* ... the internet was new, and it was nothing more than a place you could go (on AOL) and find fat chicks to hook up with.

I have a Bitcoin bumper sticker on my 6 Series BMW (point being its not a shitty car so I hope that lends some credibility to the bumper sticker somehow), and I drive it around a lot of wealthy people here in Miami, and Im pretty sure it annoys the shit out of them to see it.

That's about as disruptive as I've gotten.

Oh - I forgot the long winded embarassing verbal sparring with financial "experts" on my Facebook list.   I know I've annoyed them too.   :-P

This summarizes my original post perfectly.

Lets hope Gavin has theses issues at the top of his "To Do" list, because the longer they fester, the greater chance the media picks up on them, and this will be the focus of Bitcoin.   The avalanche of media attention pointing out that you can't do chargebacks hasn't happened yet.   Someone better get their sh*t together and fix it before the avalanche comes.   The only response to this I've seen is that consumers and merchants have to work through the problem together.  That of course is an invalid solution which won't fly.  

We need to make adoption not only EASY, but DESIRABLE.   If its only EASY and there's no incentive making it DESIRABLE, then it wont happen.  If its DESIRABLE, but  not easy, then it wont happen.  Currently bitcoin is NOT easy and in many ways NOT desirable to consumers.  

Someone needs to fix both.  Quick.

Every single person I know.

Probably every single person you know.

Aside from the 1 to 10 possible Bitcoin enthusiasts we know.

To the original poster:

You're surprised?

Bernanke likes Bitcoin, not because he likes Bitcoin, but because he and everyone else in the Govt is planning to make their own.

That's why they never say they endorsed Bitcoin.   They only said that "the technology" is something that could be extremely beneficial.

As everyone in the Bitcoin community has already proven, any tom dick, or harry can make a new cryptocurrency.

I warned all of you about this a long time ago, because all you're doing is showing the Govt that they can easily make their own.

But hey, everyone wants to get rich, so now there's nearly 100 alt coins.  Woo hoo!  :/

Anyways ... old news ... Govt doesn't love Bitcoin.   They plan to make their own.

Trillions of dollars could be saved if the Govt switched to a cryptocurrency, and they're fully aware of that.

Trillions upon trillions.

You are so cute. Implying that I'm lying. The friend gave me the advice above regarding banks. He's the CEO of a bank. He did not have anything to contribute to my understanding of Exchanges as that is not his expertise. My "friend" exists. Strange that nobody on this forum has anything to contribute to this topic. Do you have something other than a snarky comment to contribute?

It's still pending approval last I heard. 

And down we go...

Only if you voluntarily advertise to the world that you made money on Bitcoin.

I don't see any reason why someone would do that.

As far as I know, the exchanges don't correspond with the IRS either.

It continues to fascinate me that we take all the financial risk, and the government takes none of it, yet we have to give them 30% + of any gains we make on it.

The epitome of unethical bullshit in my book.

I see absolutely nothing wrong with a certain demographic buying up all those shares.  They're still going to get a piece of the action whereas they otherwise would not, because they don't know how to do what we do .... to acquire Bitcoin.  This will be suitable for them.  Its not BS.  Its just another way to get in on Bitcoin for those who have no other means.  Not everyone gets the best possible option all the time.  That is normal.  Sure, they'll be getting a less than awesome price, but in exchange they get some perks that we don't.  Sometimes people by 2nd hand 3rd hand 4th hand with a lot of things.   Others find ways to get things right from the manufacturer.  There's a market for both parties.

This is the very reason anyone makes money on markets.

Because of human beings propensity to run for the hills at the slightest sign of bad news.

The rest get a better price and make money.

Paper wallet.  Bitaddress.org

I understand most of the responses, but I also agree that there doesn't seem to be anything big enough to power a paradigm change.  At all. There are definitely some minor benefits to the consumer.  

Currently bitcoin has nearly zero consumer protection in place. I raised this issue on the bitcoin foundation forums, and my understanding is that they are working on it. Or rather, it's not even their job to work on it. It's the job of the various companies overlaying the bitcoin protocol, providing services, that should be providing the consumer protections. Something like that.

But if you lined up 100 consumers, and tried to convince them why bitcoin is better than Cash or credit cards, I think you would fail. I don't think they would see the relevance of it, unless they regularly send money home to family in other countries. The ability to use a smart phone to make purchases, might be the only slightly relevant benefit. I don't know if that's significant enough to motivate a worldwide currency change.

Amazing news!

Yeah just wondering the details of the process.

With that kind of money involved, surely there are some things you should be aware of.

I can tell you what's the banker told me. At least as far as the bank end of things go:

First off, if it's less than $250,000, it's considered less risk. If it's above $250,000, it will probably get flagged by the bank. If you transfer that much money in, you should not immediately move it out. You should leave it there for a few weeks minimum. ACH transfers are considered lower risk to your bank, whereas wires, especially international, may get flagged. You should talk with your bank prior to the transfer coming in. Prepare them for it. It shows good faith. Tell them you "invested in a foreign currency", as your explanation. It is not advisable to open a new bank account for this process. It is advisable to use an existing bank account that you've transacted on for an extended period of time already. 

So those are the bank tips, and things to be cognizant of. I'm still curious what's important to know from the Exchange end of things.

If I'm remembering correctly, they're simply selling shares at $25.

So whatever fraction of a Bitcoin that equals at that moment, is what the buyer will receive.

I had a discussion with a friend in finance who has been helping early Bitcoin adopters cash out. Dudes that have made millions. It got me to thinking…

Is it as simple as pressing a button?

What should someone be aware of. (Risks, potential pitfalls?)

Any tips or tricks or hints?

Several friends have told me that when it comes time for you to cash out, it isn't as simple as pressing a button and waiting for a bank transfer.

Someone has to accept your cell price, correct?  Any risk that nobody will?

Is bitstamp pretty much the only exchange people are using for this?

Coinbase has a 50 BTC per day limit. If you have large quantities of Bitcoin, it could take you weeks to sell it all. Obviously that's an unacceptable situation.

How did it go for you when you sold a large amount? Any surprises? Anything people should know?

Bank issues?