i said 'suppose'... and yes i agree with what you say. but we need to not sit on our hands and let the governments make the decisions, so far it seems the US government are winning the control and most american bitcoin enthusiasts are simply sitting there with their hands under their ass, taking itat slaves. (i do truly hate the basement dwelling mentality of bitcoin america). which is why im glad to be british where i have gone to a few talks now to help keep control down. most americans have a "ill sit here and let someone else do it" mentality

we ALL need to realise bitcoin is OURS. and not wait around for someone else to do something about it. otherwise the governments will simply do what they want.

in the UK for instance 2 years ago HMRC wanted to treat bitcoin as a commodity, not an asset, yet the power of persuasion and actually describing bitcoin clearly helped the HMRC to decide to go the asset route, which is both correct and proper course of action.

and before you say that it was a group of lads from the "bitcoin association" going to 10 downing street. pfft. HMRC is not in downing street and those publicity shots were just 4 lads having a public access photo shoot outside the doors, like tourists get to do.. and had nothing to do with changing UK legal decisions. (it made me laugh because i posted in this forum moths prior to the photoshoot of the association, that HMRC were going the asset route)

i truly dislike the lazyness of some people that do nothing, but sit on their hands when things are not going their way. but suddenly want to become the "we" when things go right.

again im glad to be british and cant wait for the effects of bitcoin jersey and 'hullcoin' to challenge the UK mindset.

and i am sorry america for broadly describing most as basement dwellers alot of the time, but when i see that overstock has done more lobbying this year than the foundation has, it makes things obvious that american bitcoin advocates are just sitting on their hands.

summary:
become BRAVE and stop sitting on your hands waiting for others. most americans have waited 5 years for the foundation to do things for them.. which has failed. stop waiting for others to do the work and start empowering yourself

but if you read, the notice says they are no longer seeking to strike off bitstamp. so i guess bitstamp now has its papers up to date..
so, no worries for another year

dell knows that some products go through the sales telephone line,which means commissions for the sales guy talking to the customer, and standard labour/wage.

businesses do spend time working out to the penny, including average labour for telesales, commissions, even the electric used to have the telesales PC running, the phone bills, every single penny costing etc. and then quantify the totals vs the sales they do. so with bitcoins its deemed to be a pure webpage sale, which means that EVERY product bought with bitcoins does not have potential of costing commissions, telesale, etc thus the profit margin per bitcoin sale is higher. so thy can offer discounts.

its not just about credit card charges and average chance of a chargeback. its the other stuff too that bitcoins can save a company on

i got a few thousand coins laying about, and the price movements do not concern me one bit. but i do laugh at the ones that are like screaming when the price moves just $10-$50 a day


i r3m3mb3r n0t c4r1ng ab0ut gr4mm4r n4z15 th4t c4nt r34d unl355 1t5 p3rf3ct 3ngl1sh.

if you cant understand the line above then maybe its your problem not mine.



the beauty of the english language is that most people can talk in social circles without having to be grammatically perfect. the english language was created as a ever evolving language made from multiple sources and its the human brain that is smart enough to interpret the meaning.

in short.. you would be screwed talking to someone who speaks cockney..

i find it truly weird that the lack of a capital letter makes such a difference. when in reality capitalization is not there to help interpretation, but simply to show off education or professionalism.

but this forum is about getting across idea's not peoples ego's so the grammar Nazism is not required

now have a nice day in fiat land

when the OP question comes up, its easier to ask the question

is it safe to let some one hundreds of miles away that youcant physically grab by the throat hold $1200 of your money, without a contract. and if thre was a contract would you want to go to court just to try getting your $1200 back, where it takes a year just to try proving you owned it.

if the answer is no, then get a proper wallet. and only put in amounts that you deem as 'toilet funds' into exchanges/third parties ... you know the amount you would spend on a night out for drinks and food that just ends up down the toilet the next morning.

seems you are still on the fiat band wagon. you care more about daily FIAT price then you care about bitcoins usefulness as its own currency.

i think its time you cashed out and moved on with your fiat life or you will forever be hating on every new merchant that loves bitcoin

bitcoin has value because of multple reasons. each person has their own reason,

stuff like buying stuff online without the wife seing it on the bank statement, or the police.
stuff like trading for legal produce without the paypal chargeback theft, which normally pisses merchants off, thus bitcoin is better for merchants
stuff like trading on exchanges in a market thats not rigged or costing alot in commissions, taxes and other restraints
stuff like hoarding it as an investment vessel.
and the list goes on and on and on.

as for bankers buying up all the bitcoins. well.. at the moment there are only 14mill in existence so far, and just buying 10k (0.07%) would send the price from $600 to $800 if bought on an exchange. so imagine the cost once the 10th lump of coins is bought. then imagine the cost after the 100th lump. to buy all 14mill coins would cost billions if not trillions. thats if you could persuade all owners to hand them to you.

and as for bribing miners.. bitcoins are released at 25 coins per 'puzzle solved' which averages as once per 10 minutes.. or 3600 coins a day. no matter how much you paid you cant break this speed to get all the coins quicker. and ofcourse because there is not just one miner, the complications of finding all these miners to grab all their rewards that hav been split up between them, to even hope to get all 3600 coins each day.

now as for making your own coin. if its sole purpose was for your business. then it would be seen by customers much the same as them buying gift vouchers. where they hand you FIAT, and be given something that they can use later to buy your wine.

as for scams. all altcoins COULD be utilised for something real or useful, but most of the people making coins will tell you some sob story or some great epic utopian dream. ask you to hand over your bitcoins. and then do nothing more. making them useless and leaving the holder of the coins with something that as no practical use.

that is why its best to stick with bitcoins as the 'blue chip' investments and trading.. and only risk altcoins as the 'penny share' risky trades.

making your own coin would only be as valuable as buying gift vouchers. because at the end of the day its still convertible back to fiat to buy stock, pay wages etc that makes tax still viable. so its not correct to say its not requiring tax. but could be used to decrease or use the 'avoidance' loopholes.

bitcoin HAD the potential to be the land of the free and home of the brave

but it seems that most people want to sit on their hands and let governments dictate the rules.

if only people realised that the government are suppose to work for OUR best interests and to make rules WE want.. but alas from what i seen of america they seem to just let american government do what they like and just go with the flow.

im glad im not american, so i still have some freedoms

so you like that a barrel of oil 10 years ago was X and now it costs you X+X

or put simply a loaf of bread cost you $1.50 now costs you $2.. which 'people' like that? .. oh not people, but politicians.. o i see. so we should not be a reserve currency to appease politicians. ..
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again not a risk

(facepalm)
if the price tanked, bitpay can actually make ALOT of money with their private trades.. if you cant work out how, then your not in the business to need to know how.

seems from these posts like people want to keep bitcoin measured against FIAT and let the FIAT world do the hard work..

i guess no one see's the easy option of measuring bitcoin against a cost of living index and then make the FIAT lovers have to change their habits and evolve towards measuring things against true value before converting to their national currencies...

oh well seems we just sit on our hands and let the governments decide how to treat bitcoin again (face palm)

ive book marked this post so i can refer to it in a few years once people cotton onto the idea and truly see what effect it can cause if exchanges measured bitcoin differently

i think BRICS has a better chance than this reserve currency basket the article mentions..

im not sure if the article is suppose to be a half whit trying to understand BRICS but then throwing mud into the mix.. or he talking about something else.. but oh well.. i dont read ahametals much.. too little detail or lack of thought

the thing that i find truly funny is that people want bitcoin to be the reserve currency, yet they also value bitcoin to the dollar.. just like the ahametals. you cant have a reserve crrency if its a mix of multiple currencies.. and then to include dollar in that mix defeats the purpose..

it makes me laugh..
i personally value my bitcoins to my living costs EG
%rent, how many loaves of bread, pints of milk and tins of baked beans. i dont think of it as direct fiat value anymore. although i know somewhere in the middle it still requires converting to FIAT by the merchants i deal with.

cant wait till their employes and suppliers accept bitcoins too.

but these "bitcoin reservist" people shouting out bitcoin to become reserve currency and in the same breath shouting out, that bitcoins will then be worth thousands of dollars, have definitely missed the point of what a reserve currency is

if bitcoin was measured as a cost of living index. EG directly valued to household essentials without one whiff of mentioning FIAT then bitcoin has a chance.

i think the next idea is to have a bitcoin index where
bitcoin is given a global value that today its worth 2 weeks minimum wage salary
or x amount of oil barrels and just do away with dollar valuations, thus allowing the whole world to calculate bitcoin to their local currency based on the international index. ofcourse, demand will make the price raise to 3 weeks income, 4 weeks and upwards as bitcoins popularity rises. but atleast its not pegged to the dollar and then converted to other currencies

lol i do laugh at peoples utopian dream...

you do realise these microgrids only really work between next door neighbours or a closely build street... not meant for national usage..

so the idea of a mining farm, selling electric to other miners................... yea good luck with that 200-2000mile electrical extension cable.

i would have ranted on about 10 other little pitfuls. but im laughing too much

you do realise that deals like bitpay involving hge investment are not based on 'trust' right? theres these things, you may not have heard of.. they are called contracts.

and as for throwing the funds into an exchange slowly,
1: the pain of all the KYC of your bank, an exchange and the exchanges bank is a headof of a headache of aheadache, compared to what a bitpay contract/investment offers.
2: most investors wont want to put funds into an exchange and be sat there day and night for oppertune moments to sell.. again bitpay ontracts are better priced and stable. and yea dont require monitoring
3: trying to then mov out that crap tonne of bitcoins from an exchange.. in coinbases new feature would take days to request before withdrawal. again with bitpay you can pretty much know the exact time you'll get the funds.

ok to clarify. bitbay gets alot of FIAT from privat investors, NOT exchanges., the exchanges are used just for pricing, but not as the bitcoin drop zone

put it this way

if i want $30mill of bitcoins. i would not go through an exchange, i would talk to bitpay. and in less then a month. i would have $30m of coins all at roughly the same price.

if i however tried to get bitcoins buying on an exchange.. the bitcoin price would jump immensely..(but thats the opposite to the question being asked so ill leave you to research bitpays recent FIAT grabs that they are using for capital.)

i think the OP should have worded the question more about coinbase. to have got a better reply about what he is trying to ask

and to be honest, i know of alot of miners and bitcoin owners reluctant to sell coins below the $500=$550 as that is a loss to them, alot of every day people wont want to 'spend' bitcoins with merchants if the price went lower than this.. so there is a resistance point.. if it goes below this point then alot of bitcoin sellers/spenders are just dumb.

it does not need millions of merchants to cause a price crash, it needs alot of customers that fnd the bitcoins they hold to be in profit enough to deem them worth spending. which due to the stable bitcoin price since spring, and the mining costs.. bitcoin is not at a large profit to the current holders. as most paid probably over $500 to get them. most are holding out for $1000+

would be so much easier if at registration you give them a withdrawal address that gets backed up offline. then they can check that the funds are going to go to the proper destination.. even if hackers try changing the online record, the offline record shows the true destination. and cancels if they dont match.

..simples..

you can even get the customer to sign a message using that locked in address to prove Identity

bitpay do not trade as much as you think on exchanges. they do large private trades bhind the scenes away from exchanges. so the impact is not as big as you may think if growth was to increase really fast

its the summer

investors going on vacation now their kids are at home for summer,
students not trading on campus pc's
basement dwellers thrown into summer camp to gt some sun
some countries are getting ready for tax seasons so moving their coins to do thir accounting easier

also being summer, its time for people to buy that convertible they been admiring at the dealership
cash out some coins and show off your wealth to all them ladies in bikini's
buy that beach cocktail bar .. simply because you can

translation, 2 day delay in paying you.

kind of weird as that now makes getting bitcoins slower than bank transfers.

yea the OP is deluded, ive ben seeing all his posts for the last year+, none actually do anything to inspire or actually hlp the community. which is why a few of us dont mind de-railing his topics