Williams also suggested that he is not alone in this predictionI guess all the others are keeping their mouths shut. 
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The size of the informal ("black") economy is one of the factors that they used. China's ranking came down because of this. My guess is India scored big on this parameter.  |
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I make sure that I am not late on credit card payments.
Have not bothered to check my credit score, though.
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Say BTC does become the currency that people rely on. How would a loan system work? I would imagine people would still need to take out loans for large purchases, such as cars and houses.
Without a credit system how does something like that play out? Would credit cards in BTC exist, and you still received a credit score that allowed you to take out money for a house? The fluctuation of the BTC price definitely makes it difficult for that model to work.
I am all about Bitcoins, but I can't seem to wrap my head around this part of society that exists, and is still required with our current mentality.
Not sure if this is the right location for this, but I figured this would be a good place to start.
It is literally no different than cash with regards to loans. Sure theoretically someone could run off with Bitcoin... but, the same could be said for cash loans. It's all about credit scores. Someone with a $25,000 credit could refuse to repay, but over time they've proven that unlikely. The same will go for Bitcoin. No one is going to loan you 10,000 BTC anonymously, but if you stake your credit or collateral on it, they may. Would a default on a bilateral BTC loan mess up a person's credit score? If not, then a person with a good credit score might also refuse to pay... |
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Bitcoin is a gold of future
Yes, it's banned in Russia... So are a lot of other things. Doesn't mean that it is not used. |
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Byrne has long complained about investors using various loopholes in the financial markets to improperly boost profits at the expense of public companies and the overall economy—with Overstock even going so far as to sue some of the biggest names on Wall Streethttp://www.wired.com/2014/07/overstock-and-cryptocurrency/ Interesting article. I'm having a hard time imagining the advantages and disadvantages of cryptosecurities, but I guess there are still a lot of details to be fleshed out. So I'm really not sure yet what issues it would solve. But, as he points out, it would eliminate high-frequency trading...at least probably. I could see someone figuring out a way to do it anyway, but it would probably be very difficult. One of the things it could do is broaden the investor base. Somebody sitting in rural India could invest in US stocks, which is not possible now. The last first thing a peasant in India would want to do is to invest in the US stocks!  You will never know until you give him the choice. |
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1 btc is decent investment. Rest assured that he owns 1/20M of total wealth some day in the future.
1/21M of total money supply, not wealth.  |
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first post says: You need AT LEAST 50 posts minimum to claim the reward
And Maximum 400 posts will be counted per month, minimum 20.
Is the minimum to claim payment 20 or 50 posts? Guess it was 20 initially and now has been edited to 50. You should have 50 posts, just to be sure of collecting... |
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I hardly use FB, I've told friends to do this and I gave them some funds So they kept spreading it to get more funds.. 2BTC - That's a lot of helpful friends. |
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Currently Blockchain.info estimates USD transaction volume at $40M daily. Are there any statistic regarding total fraud in Bitcoin transactions?
There are infos about double-spends in the blockchain, but they are understimated, as far I know. And that much of scam and fraud are people too used to be inprisioned by the banking system, that when they are free they don't know how to act. Plus people looking for easy money. Wouldn't this primarily relate to 0/1 confirmation transactions, which would be small amounts? For larger amounts, wouldn't people wait for 6 confirmations, thereby eliminating double spending risk? |
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Wouldn't hurt having one lying around, I just to. But I spent most of it, gonna get there again tho Same here. Have a fraction of a BTC currently. But hope to get there soon. |
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I will take away the BTC . BTC than gold more valuable.
gold bull market has come to an end, the crazy BTC has only just begun
Gold is a buy; it is reliable and wanted, it is very scarce and has proven itself through time Bitcoin is a buy as well obviously! It is the proportion of gold vs BTC in your portfolio which counts. |
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Byrne has long complained about investors using various loopholes in the financial markets to improperly boost profits at the expense of public companies and the overall economy—with Overstock even going so far as to sue some of the biggest names on Wall Streethttp://www.wired.com/2014/07/overstock-and-cryptocurrency/ Interesting article. I'm having a hard time imagining the advantages and disadvantages of cryptosecurities, but I guess there are still a lot of details to be fleshed out. So I'm really not sure yet what issues it would solve. But, as he points out, it would eliminate high-frequency trading...at least probably. I could see someone figuring out a way to do it anyway, but it would probably be very difficult. One of the things it could do is broaden the investor base. Somebody sitting in rural India could invest in US stocks, which is not possible now. |
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This is about Argentina defaulting on its bonds. Bonds are denominated in USD so they can't print pesos to get out of mess. Not comparable to Cyprus situation. Cypriots bought bitcoin because imposed bank holiday Stop thinking everything is good for bitcoin. LOL  If Argentinians could buy USD, they would. Depends on whether BTC is easier to lay hands on, or USD. In the end, it could be good for bitcoin. Did you read the story? Agentina is defaulting on some bonds. What does this have to go people converting their currency The link is Argentina defaults --> Harder to get external credit --> More printing of pesos --> High Inflation. In the end, people will have to look after themselves, if their pesos get devalued very quickly. |
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On a separate note, dividends and interest can be considered as returns to share holders/bond holders.
The differential treatment on these two should be removed.
That would solve the protest on taxes (apart from inflation) eating into savings.
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You can sometimes trust others to hold your bitcoin for you if you can reasonably determine that they are trusted, however you should only allow them to hold your bitcoin for short periods of time. Just because someone is trusted today does not mean they should or would be trusted tomorrow.
On the issue of trust, make sure you go through this thread. https://bitcointalk.org/index.php?topic=33835.0 |
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Hello ,
Where i can get free bitcoins?
There is no such thing as a free lunch. Try some faucets, to get your first bitcoin. After that, think of it as 'Where/How can I get some money?' |
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Yeah their import restrictions are brutal. Only way I'd see the people of Argentina being able to easily get bitcoins is for a bitcoin company to startup in argentina that ALSO gives a kickback to the government. IE the company charges market price + their own fee + small extra fee for kickback to government. That way the more people that buy bitcoin with the peso, the more money the government also makes. Otherwise I don't see their government approving any outflow of pesos to other stores of value.
The people of Argentina would probably go for this type of business model....considering that their inflation this year will probably be >30%, I'd doubt they would mind a 2% extra fee as a government kickback in order to offset the inflation that will take place on their peso.
Essentially the government agreeing to replace the peso by BTC, and then taxing the people.  |
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So they want to collapse?
"Oh, interest spiked?
Print another 185 billion dollars, halve our currency value, have people start dumping our dollars, and move on to something else, leaving us with a really poor exchange rate and decimated purchasing power."
Yeah, the US is doomed.
So is half the world, with their huge dollar holdings. |
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