Regarding the year, is there any milelage in counting backwards to when no more Bitcoins will be produced? So this year will be 2140-2013 = 127. Or you could express it as 'T-127' Next year T-126, and so on.
It would add a conversation piece, which has real value, as it happens to be a fundamental truth/fact.
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! Stunned into silence
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It never ceases to amaze me. Why would people sell big amounts of coin in the low 150's when the price was 168 hours ago?
Something to do with 'this new trading thing'. Meaning, theres many new entrants who have just discovered trading, small and large size alike. Doing what you describe is exactly what they do.
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I propose the name BitBobs, "bob" being the slang name for an English shilling which was equal to 12 pence.
Nicely done. I like that. Those were the days, eh?...."yer got a couple ov bob on yer, cock?" !
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That's IMHO the real cause of the recent price uptake over 130 ... Not sure if I like disclosing such information ... Is it just me or does MT.Gox use Clarkmoody to check the market?!?!?! Speaking of Clarkmoody, is he getting enough tips/donations and recognition, ladies and gentlemen?
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"Phycoin" rolls off the tongue better than "Physcoin". That just sounds like fizz coin.
Whats wrong with fizz coin? I actually like that. Depends what the perception would be when you look at the coin, between 'Phys' or 'Fizz', i guess.
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"Phycoin" rolls off the tongue better than "Physcoin". That just sounds like fizz coin.
And the more i say it out loud, the more i like it..... "Ere Dave, you gotta couple of Phys, mate?" or "Thank you sir, thats 2 Physcoin change. Have a nice day". Edit: How about 'Crypts' ?
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I actually posted elsewhere that no one would challenge the Casascius brand, anytime soon. Looks like i may have to retract that at some stage!
I like 'Physcoin', and 'Bloccoin'
I would order 10.
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The discussion clearly shows the large grey space Bitcoin exists in, within the context of HMRC currently, what ever way you shake it.
Consider their stance for a minute. All of a sudden, they are getting inquires about this new-fangled crypto bit thingamajig somefingorother. They will make initial judgements based on their existing framework, and tables, flow diagrams etc. Without doubt, an invitation to produce whatever result you wish, depending on who you speak to. So what if you tried to escalate your inquiry to the decision makers? Are they going to commit to a defined process concerning the treatment of bitcoin for income/tax/CGT etc? And are they going to do that soon? Cant see it yet, personally.
So, is it not up to businesses that have bitcoin at the core of their trade, to decide how they declare bitcoin on their EOY accounts. Moreover, wouldnt it be logical for HMRC to sit back, wait to see how businesses declare bitcoin, monitor and number crunch its effect and consequence etc etc, and over time, take a defined stance?
Point being, its too soon to specifically define its tax route. How many returns in the last tax year shows a meaningful declaration of £BTC? Hardly any i would have thought?? So for now, its up to us/business to take their choice of the current recognized route i.e. if its 'money', its VAT exempt, but more costs associated with FSA issues, if its a commodity, it attracts VAT, and how income tax, can or cant be off-set, etc etc. Basically, take your choice. Not ideal i know, but at least you are declaring something, and if and when HMRC want to argue your returns, they are then, setting the precedent.
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Are narcissists allowed to go on the joke thread?
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Scarcity doesn't drive up price, does it? Not when its derived from an ever changing order book, no.
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Seems like a rocky road but so far the trend has generally been up. Started the day at ~120-ish, and now its $124-ish. It'll be nice if we can break the $137 level though. That's key.
After that, im looking at $190 as resistance.
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Im struck by the amount of support shown on the order book, in the last few days. And for the record, the levels of next support and resistance, i am looking at, are $90 and $190 respectively.
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Have you tried the Bitcoin OTC? Good and reliable for PayPal, I hear.
Also do not forget that even if the buyer mentions Bitcoin by mistake in the comments, your account will be frozen.
Why will it be frozen?
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They dispute it illegally, just claiming their account was hacked and PayPal will usually just side with the owner of the account regardless. Or they dispute it though their CC company and PayPal doesn't really bother to fight your case and lets the CC company win.
I might agree with that if we are talking £1000s maybe, but risking an accusation of fraudulent claims about your Paypal account for smaller amounts sounds like a stupid thing to risk. People have done it for $50 before. For some people that is a "good enough score". Simple version unless you absolutely trust your counterparty you shouldn't use PayPal. If they want to screw you over they will and you will lose. $50? Tis a shallow world sometimes.
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They dispute it illegally, just claiming their account was hacked and PayPal will usually just side with the owner of the account regardless. Or they dispute it though their CC company and PayPal doesn't really bother to fight your case and lets the CC company win.
I might agree with that if we are talking £1000s maybe, but risking an accusation of fraudulent claims about your Paypal account for smaller amounts sounds like a stupid thing to risk.
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If you can gain the individual buyers trust, you can send them a micro amount first, and then ask them to put the following into Paypals message box, as the buyer pays.....
""" I have received the BTC to my wallet xxxxxxxxxxxxxxxxx As agreed, here is my payment for the transaction. Thank you. """
Once paid, you then send the remainder btc.
It gives you an irrefutable statement of a two way transaction which of course is backed up by blockchain. However, its not easy to convince innocent buyers to do this, and also, it wont cover you (i think), if the buyer turned out to be a scammer controlling a hacked account.
There's no way anyone should include anything about BTC in the PayPal note -- this will easily get your PayPal account frozen. Ive communicated with Paypal regarding Bitcoin. They did not state any ban on bitcoins, they stated that as it is not physical goods, they will not give seller protection. In other words, go ahead, but dont come crying. At least my way makes them work for their fees!
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