That's fantastic, your ideas are wonderful.   

I would suggest a project with huge potential wins, win for you, your club members, your school, the bitcoin community, your country and many other people around the world.

The first step is to look for a problem in the area of concentration (bitcoin) that you would like to focus your attention.

I think you should look at the creation of self-regulating guidelines for the cryptocurrency industry with a focus on bitcoin.

Such a project addresses a real and present need, has a good purpose, has specific goals and will result in all club members knowing the basics of bitcoin, getting introduced to local and perhaps national govt, and also meeting bitcoin leaders in various countries.   Such a project will give you the REAL opportunity to shape Bitcoin's future in a meaningful way.

I would also suggest that you video the whole experience, and upload it as an reality show.   Not only will it be a great club project, it will likely inspire other schools around the world to follow your lead. 


It may sound ambitious but I assure you are ready for the challenge.

I'm willing to provide support, and I'm sure many others from outside of your club will be willing to help your club as well.   

"flawless"?


hummm, op make sure to read at least 6 hours worth of material there before you do your first trade/transaction


I read how one seller who was doing a btc for cash to bank transaction got ripped off, AND embroiled in a multi-state criminal investigation because of it.






 

given what we see occurring at Mt Gox, that is highly unlikely

He has single handily reduced the value of btc by about 20%, if anything he would be extorting them for, since he was bringing down everyone's values.

However, notice that MGs btc values are no longer aligned with the rest of the market, it has "forked" itself, and doing it's own thing, having very little influence on the rest of the market.   Which is why the 20% isn't 25% and growing.

MG is both becoming irrelevant and a major catastrophe at the same time.  If they fail expect btc to take another rocket ship to new heights after looking like it took a nasty nose dive.

for me, I need more inspiration, tell us more of your other ideas, tell us what type of school it is, where is it located, what other types of clubs are there


the perspective may be totally different for a club for Chinese students in a school like Bronx High School of Science, where the Chinese population is highly intelligent, poor, and often are not interested finance, as opposed to Chinese students at  Newport Coast who tend not to be as academically inclined but finance is their best friend -- there btc 101 could be a mandatory class.

because it was hardly known that Bitsamp had the problem too, what was widely known is that Mt Gox has the problem in a major way and that BTC also claims to have the problem.


Here's the thing, all during the time that Mt. Gox is suffereing with the problem if BTC doesn't go about $800  it will have major losses to make up from once the withdrawals are able to recommence.

Unlike others, I don't think MG simply let the funds stay in place but gambled them in other markets in an effort to earn some funds on the depressed market, but now that the market is stablied under $700 and often flirting with $500+ numbers, MtGox is in major trouble and will likely suffer a solvency issue.

horrible comparison,   paypal is a processor of currency not a currency


a more fair comparison is:

Mt. Gox vs Paypal

both freeze funds, and take on a quasi govt roll as their contemptuous disrespect of clients grow

I have CryptoCurrencyLobby.com,  I'm willing to partner with you and the the community at large to put it to good use.

I was thinking earlier today that the campaign should start with a crowdfunding campaign so that it has a chance of getting funds and at the same time gets exposure for the specific cause of having community accountability from MtGox. 

Beyond that the lobby should seek to have a hands-off policy from world govts particularly when it appears self-regulation works.

 

it's not free if they have arrested your money

If true all should be provable via block chain, you're suggesting a multibillion dollar scam, surely that is worth a million dollar investigation.   So who is willing to pay for it, because all of the BTC folk already told the govt in each country to F-off, and thing all of the rich folk are out for themselves, so who do you turn to to find the money?

Here's the thing, 'what if you are wrong?'   

All of these negative and malicious suggestions might get some MtGox executes physically hurt, if there is just cause I have no problem with it, but what if they are actually doing their jobs?   

Again I ask, is this same type of thing occuring at BTC-e or is it undercontrol over there, if so why the difference?

that's not true,

firstly, you can sell virtual currency, just like you can sell fiat on ebay, or many other things but once you sell a lot of them, once it looks like you are in the xyz business you just stepped into a new level of ebay and paypal 

so let's say you have an ebay account and you sold all sorts of different things, and purchased a variety of things over time, it will seem like you are not using ebay in a business way even you think you are.  Conversely, if you recently joined a large cyprtocurrency meetup group was elected treasurer and you thought it would be a good fundraising idea to sell various CCs to raise funds for the club and awareness for the coins,  if you listed and sold 20 different CC over the following month and raised $6000  all of a sudden red flags would go off all over the place.  If you should expect your account to be limited too.

Paypal can look at your account and see what you do, what your proclivities are, and how much of a risk taker you are, ALL of that is factored into their risk algorithm for wanting to work with you.   If you have a strong attitude to add to that mix you can forget it, you will get your walking papers forthwith, but your money will be held for the 180 days.

So if your username has anything to do with bitcoin, if you buy and sell lots of mining equipment, if you subscribe to bitcoin this or that, if you transfer money to other people that also do the same and if they also have "risky" behavior, you could expect to get the 'boot too'.

The answer is simple diversify, when they contact you for anything, take your money out what you are on the phone, they may reverse it anyway but at least try to remove it.

diversify and if at all possible stay away from paypal
 

if you give them the violence they will be more receptive to reason, otherwise you are stuck trying to fight them in an arena where you will most certainly lose -- court

Notwithstanding, to get around that in more practical ways simply allow checks to be used to purchase items on ebay, or cash, or other processors like google checkout etc ...

The point is, if the transaction is legal, any restrictions should be reasonable. 

Paypal is natorious for freezing accounts for little to no reason, what most people don't understand is that the people who pull the trigger at paypal aren't the geniuses there they are the power hungry worker bees, and when they make a mistake the smart ones work to cover it up until policies change. 

The only true solution to this issue is more processors, and more ebay like sites. 

If my memory serves me correctly someone tried the Ebay for Cryptocurrency  and it recently failed. 

the foundation has many reasons for existing and many reason to exist, chief amoung 'em are:

1) to provide cryptocurrency industry leadership
2) to protect the integrity of the Bitcoin brand
3) to protect the security of bitcoin system of operation
4) to encourage worldwide adoption of BTC
5) to encourage development of ancillary support systems


I'm confident that the foundation has an about us page that would tell you their mission from their perspective.

BTC is only 5 years old, for each person on the board btc has literally changed their lives magnificently.  They are all leaders in their own right, so I can image its difficult to get things done beyond back-slapping bravado.   Nevertheless, without the foundation (the org) there is no foundation (the structure).

Replace them if you will or just make another one, you see their mistakes start a new and improved foundation, so what that it won't be the original it should be the better.

Given all of the garbage said about Mt Gox (MG) I'm still seeing sr members of this site actively buying btc positions in MG, allbeit at a discount. 

At this very moment US exchanges have btc at about $625, BTC-E has it at $625, and bitstamp is at $640,  but MG is at $350. so that caused me to wonder. 


How tempted are YOU to buy btc positions (direct or indirect) in MG? 

At what price is the temptation too great for you to resist the urge to buy into MG?

"I should have taken MtGox and Bitstamp’s lead and disabled withdrawals as soon as the malleability issue "

the excuse of the day, take one pass it down to the next exchange ...

At the time of this post BTC is hovering at $570 trending down, as btc shoppers around the world grease-up shopping cart wheels to find some bargains, let's get in the game too; so: "Bobby, you get 1000 BTCs, Sussie, you get 1000 BTCs, and Becky, you get 1000 BTC, everyone gets a free virtual 1000 BTCs gift card" ...  to invest in the markets of your choice.

You must both buy and sell ALL of your coins (at least once), as you wish, before 9am EST Monday Feb 17th.
 
The goal is to be the person with the highest recorded profit by the end of the contest, s/he will received a really huge virtual trophy.

To get started:

1) BUY  Date, time, and exchange name
2) # of BTCs purchased @ buy price 

If you use an exchange index to buy your btc its only fair that you use an exchange index (same or another), but not an actual exchange for the sale.

ie: BUY  Friday 11:24 pm Coinbase 400 btc @ $585.15, or BUY Friday 11:24 pm CoinMarketCap.com 400 btc @ $575.35


3) SELL Date, time, and exchange name
4) # of BTCs sold @ sell price 


Must use full contents of card, profits from multiple buy and sells may be used to increase your buying power, but you can only spend available funds (no loans or overspending)

Let's have some fun

There's no hard or fast rule of cryptocurrency investing.   How much cash do you have, checking, savings, CD etc ....the fact of the matter is even if you look at it as SPECULATIVE COMMODITIES and you are only supposed to invest what you are willing to lose, you are still pissed at what occured.

Look you go to a casino knowing that there are wayyyy more losers than winners, some time you win but most of the time you lose, you think if you win 5 weeks in a row that you won't feel bad if you lose the next time?  of course you will. 

However CC isn't cascino gambling, nor btc is it a high risk commodity, well not outside of Norway (and perhaps some others I'm unaware of), it's a currency or at least this is our understanding.

Recently BTC-e I believe also announced that they too were halting withdrawals for the same reason that Mt.Gox halted their withdrawals.  however it didn't have the same effect on the market, why?  Because there is a way to handle matter like that correctly and apparently one exchange knew how to do it without distrupting the market and the other didn't. 

Self-regulating standards would mitigate disruptions caused by matter such as that.

There is absolutely nothing wrong with giving one's expert SUBJECTIVE opinion on a matter.  No one should reasonably expect anything other than a subjective opinion once it has been disclosed that you are vested in the position, unless of course you expressly indicate that a specific comment is your objective opinion.

I'm a believer in all CC, even the "pump and dump" "shitcoins" because they all add value to the cyrptocurrency industry as a whole, it's difficult to appreciate anything good if there is nothing to compare it to, remember 99.999% of the world still see bitcoin as a scam.

The whole CC industry is built on faith, even the CCs tied to metals.   In order to have people buy into your CC you must have them buy into your message.  It doesn't matter if its a message based on hype, hope, marketing, intrinsic/marketing/true/perceived/real or any other value, charts, associations with non CC, how it is or isn't like btc, how it is safe, its utility, it's development team, it's script and programming language, its mining terms, ...  a mixture of many of those things or none at all, but you only get the opportunity to make a good 1st impression once; if you request the opportunity to make a 2nd impression you really gotta come stronger than the first and with a message that will stand up to the scrutiny (beit valid or false).  

If there is nothing new, no scheme (good or bad), what's with the resuscitation efforts? 

The title of the tread is "This is how you become an altcoin Millionaire"  if nothing is new, and you are reintroducing the position the implication is 'those presently holding the position made millions on it, and now you can too'.  However, if the present holders of the CC have not made millions on IXC what is the new thing of substance (no hype) that will enable new investors to become "... altcoin millionaires" because of it?

Here's your opportunity to give it a better go ...