Bitcoins are not an investment, they do not yield and dividends. If you're holding them with the intention of making a profit by selling them on a later date, all you're doing is speculating on their worth on that specific date.

Bitcoin is a value exchange system, that's what it was primarily intended for. The likelihood of making a profit by holding them comes from their design that rewards savings unlike say fiat currencies where saving is punished. But that's it. There's no promise they'll be worth more than what you paid for them at the exact moment you decide to exchange them for something else.

Seriously? Can you imagine the trolling and the rage on these forums if they didn't give as any deadlines? C'mon, stop the bullshit.

I think you'll find help here: https://en.bitcoin.it/wiki/Merchant_Howto

nvm, I misread.

Do you have a crystal ball you could lend them so they would know what and when to announce?

Use this: http://bitcoinity.org/markets?theme=light

It happens. 

Awesome shows so far, keep it up!

MagicTux has said he will not enforce anything. People will be free to place bids and asks as they please before the trading resumes.

And I was one of those who forgot their pw and had to provide a lot of account history information. Just goes to show things are moving a log just fine.

I've got to say you're replies are very accommodating and professional which excites me to soon your exchange live and running.

Ok here a few design and feature position suggestions for your site interface:

I don't know how to best explain this but I guess I can try from the perspective of how I usually trade.

First I want to see the depth table. This is very important to me because even though I don't see dark orders, which btw you should explain somewhere what are the exact mechanics of, I can still roughly anticipate where the market is moving. It's my primary source of information when I daytrade.

2nd I look at recent history. I usually find graphs like these two the most useful: http://bitcoinity.org/markets?theme=light and http://mtgoxlive.com/orders
And I'd like to also see something like these two when I'm writing my order, meaning both the depth table and a graph like these two should be on the "trade now" page.

3rd when I book orders I want it to be as easy, simple and quick as possible. That means:
-no preview step, or at least the option to turn that off, maybe live calculation of how much a certain quantity would cost at a certain price, or how much a certain quantity would net me at a certain price
-displayed live top bid and lowest ask
-automatic order splitting into 2 portions, one for which I have funds for being active and another which I don't have the funds for in the event that I am trying to buy/sell too much
-easily accessible "my orders" table meaning it should also be part of the "trade now" page so that I can cancel them quickly if I want to

These are some of the thing that I noticed right away and changing them would make your exchange become a lot smoother IMO.

Also I realize you'll have an API available but then I'd have to look to someone for a trading client having to learn how to use it and potentially expose myself to more risks.

I'll admit that's reassuring and makes sense.


Great.

LOL you can't seriously be that ignorant? Even the Chinese are more capitalist today than your good ol' land of the free and home of the brave US of A. Does having to mention compliance to the Patriot act provision in your FAQ sound American or free to you? Please..

If the quote is your company's view, not to mention you didn't address my comment on your down right vile TOS, I think I'll abstain myself from doing business with you and wait for another company that will offer some of the advanced trading options that you plan on providing. Thank you very much.

Excellent, free market at work giving us another platform that judging by my first impressions seems to have a lot of competence behind it which is always a plus. It looks slick, loads fast and so far I like my experience. I also commend your decisions to offer testing and play money before going live.

However I'm a bit turned off by the TOS which I really hope people took their time to read. I'm sure it's a standard TOS for such a platform but to me it read like it was written by some wall street lawyers in such a vicious manner where the user basically doesn't have any rights and has quite a few obligations.

I sincerely hope, for the welfare of the Bitcoin economy through a more decentralized exchange market, that you'll do everything possible to be as transparent if not 100% transparent with all of us so that we can make the best possible decisions when doing business with you. With a TOS like yours I will not use your service if that isn't going to be the case.


Oh and try and lose the gray on green cause it's really hard to read.

Free market at work. Maybe it's timing is off, maybe it's concept isn't appealing enough.. who knows.

FYP

hugo is right, alternative currencies are not illegal so log as they don't try to imitate legal tender which what they hanged Liberety dollar on.

http://en.wikipedia.org/wiki/Local_currency

I think a cool description of Bitcoin could be a local globally used currency )

Conclusion: Both words can describe Bitcoins it's just that the they are being mostly used right now I'd say Bitcoins are better described as a commodity than a currency.

EDIT: and it can even be called money.

Well let's look at what the dictionaries say(top 3 google results for "currency dictionary"):

(I will underline what I think describes Bitcoins)

cur·ren·cy   
[kur-uhn-see, kuhr-]  Show IPA
–noun, plural -cies.
1. something that is used as a medium of exchange; money.
2. general acceptance; prevalence; vogue.
3. a time or period during which something is widely accepted and circulated.

com·mod·i·ty   
[kuh-mod-i-tee]  Show IPA
–noun, plural -ties.
1. an article of trade or commerce, especially a product as distinguished from a service.
2. something of use, advantage, or value.
3. Stock Exchange . any unprocessed or partially processed good, as grain, fruits, and vegetables, or precious metals.

mon·ey   
[muhn-ee]  Show IPA
noun, plural mon·eys, mon·ies, adjective
–noun
1. any circulating medium of exchange, including coins, paper money,  and demand deposits.
2. paper money.
3. gold, silver, or other metal in pieces of convenient form stamped by public authority and issued as a medium of exchange and measure of value.

http://dictionary.reference.com/

cur·ren·cy (kûrn-s, kr-)
n. pl. cur·ren·cies
1. Money in any form when in actual use as a medium of exchange, especially circulating paper money.
2. Transmission from person to person as a medium of exchange; circulation: coins now in currency.
3. General acceptance or use; prevalence: the currency of a slang term.
4. The state of being current; up-to-dateness: Can you check the currency of this address?

currency [ˈkʌrənsɪ]
n pl -cies
1. (Economics, Accounting & Finance / Currencies) a metal or paper medium of exchange that is in current use in a particular country
2. general acceptance or circulation; prevalence the currency of ideas
3. the period of time during which something is valid, accepted, or in force
4. the act of being passed from person to person
5. (Economics, Accounting & Finance / Currencies) Austral (formerly) the local medium of exchange, esp in the colonies, as distinct from sterling
6. (Social Science / Peoples) Austral slang (formerly) the native-born Australians, as distinct from the British immigrants
[from Medieval Latin currentia, literally: a flowing, from Latin currere to run, flow]

com·mod·i·ty  (k-md-t)
n. pl. com·mod·i·ties
1. Something useful that can be turned to commercial or other advantage: "Left-handed, power-hitting third basemen are a rare commodity in the big leagues" (Steve Guiremand).
2. An article of trade or commerce, especially an agricultural or mining product that can be processed and resold.
3. Advantage; benefit.
4. Obsolete A quantity of goods.

commodity [kəˈmɒdɪtɪ]
n pl -ties
1. (Economics) an article of commerce
2. something of use, advantage, or profit
3. (Economics) Economics an exchangeable unit of economic wealth, esp a primary product or raw material
4. Obsolete
a.  (Economics) a quantity of goods
b.  convenience or expediency
[from Old French commodité, from Latin commoditās suitability, benefit; see commodious]


mon·ey  (mn)
n. pl. mon·eys or mon·ies
1. A medium that can be exchanged for goods and services and is used as a measure of their values on the market, including among its forms a commodity such as gold, an officially issued coin or note, or a deposit in a checking account or other readily liquefiable account.
2. The official currency, coins, and negotiable paper notes issued by a government.
3. Assets and property considered in terms of monetary value; wealth.
4.
a. Pecuniary profit or loss: He made money on the sale of his properties.
b. One's salary; pay: It was a terrible job, but the money was good.
5. An amount of cash or credit: raised the money for the new playground.
6. Sums of money, especially of a specified nature. Often used in the plural: state tax moneys; monies set aside for research and development.
7. A wealthy person, family, or group: to come from old money; to marry into money.

http://www.thefreedictionary.com/

cur·ren·cy noun \ˈkər-ən(t)-sē, ˈkə-rən(t)-\
plural cur·ren·cies
Definition of CURRENCY

1
a : circulation as a medium of exchange
b : general use, acceptance, or prevalence <a story gaining currency>
c : the quality or state of being current : currentness
2
a : something (as coins, treasury notes, and banknotes) that is in circulation as a medium of exchange
b : paper money in circulation
c : a common article for bartering
d : a medium of verbal or intellectual expression
 See currency defined for English-language learners »
See currency defined for kids »
Examples of CURRENCY

A new currency has been introduced in the foreign exchange market.
They were paid in U.S. currency.
Furs were once traded as currency.
The word has not yet won widespread currency.
I'm not sure about the accuracy and currency of their information.

com·mod·i·ty noun \kə-ˈmä-də-tē\
plural com·mod·i·ties
Definition of COMMODITY

1
: an economic good: as
a : a product of agriculture or mining
b : an article of commerce especially when delivered for shipment <commodities futures>
c : a mass-produced unspecialized product <commodity chemicals> <commodity memory chips>
2
a : something useful or valued <that valuable commodity patience>; also : thing, entity
b : convenience, advantage
3
obsolete : quantity, lot
4
: a good or service whose wide availability typically leads to smaller profit margins and diminishes the importance of factors (as brand name) other than price
5
: one that is subject to ready exchange or exploitation within a market <stars as individuals and as commodities of the film industry — Film Quarterly>
 See commodity defined for English-language learners »
See commodity defined for kids »
Examples of COMMODITY

agricultural commodities like grain and corn
Oil is a commodity in high demand.
Patience is a rare commodity.

1mon·ey noun, often attributive \ˈmə-nē\
plural moneys or mon·ies
Definition of MONEY

1
: something generally accepted as a medium of exchange, a measure of value, or a means of payment: as
a : officially coined or stamped metal currency
b : money of account
c : paper money
2
a : wealth reckoned in terms of money
b : an amount of money
c plural : sums of money : funds
3
: a form or denomination of coin or paper money
4
a : the first, second, and third place winners (as in a horse or dog race) —usually used in the phrases in the money or out of the money
b : prize money <his horse took third money>
5
a : persons or interests possessing or controlling great wealth
b : a position of wealth <born into money>

http://www.merriam-webster.com/dictionary/