I am invited to join a panel discussion with local managing directors of MasterCard and Visa at a high profile Finance IT forum on 19. September.
Please feed me any arguments and facts with links you think would be helpful to make Bitcoin shine in comparison. Thanks in advance.
The biggest disadvantage of VISA and Mastercard: Security is a joke. They should have 2 Factor Authentication to accept each transaction. The security of bitcoin is not so good either since it is really easy to lose a wallet due to theft, deletion or hard drive failure. But bitcoin is new, it is evolving. Visa/Mastercard have been around for several decades, their security still sucks. they do kind of have 2 form factor.. form one. the card itself which not only has the card details (long number across the front) but also some extra info that merchants would only obtain from having a card present form two. the pin number(for in person transactions)/ or digits on signature strip for person not present transactions. the problem is that these 2 'forms' of identity are easy to find/replicate |
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when people talk about bitcoin as this item that is created by a computer that literally creates money.. ofcourse its hard to beleive.
what needs to be done is for everyone spreading the wrd in this manner to realise one thing..
bitcoin has now expanded beyond average joe mining coins, so please stop mentioning it from the perspective of mining to create wealth.
instead if you mention it as a replacement of a master/visa card. that it can be used internationally with less fee's, no application forms, and you can send funds without any of the payment processing 'red tape' you will get less objections.
the other point to make is that you should be aiming your energy more at merchant adoption. after all without things to spend it on, it holds less value. so increasing its usefulness, increases its value.
just telling family and friends to throw money at a new project wont help the community, wont help expansion and eventualy wont help those you insisted on throwing money into it
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We need to find a better way to keep our coins safe , recently a lot of people kept saying they have been scammed or robbed.
Or maybe we need to find how to rob or scam people and scam the scammers and rob from robbers. Punishment fit to crime type of deal.
'we' as in the community already know many ways to keep coins safe. the non-secret is to not rely on third parties such as armory, blockchain.info, or any other online wallet/exchange. if its not a paper wallet or a full client that requires the blockchain, then all of your coins technically belong to the server that holds the blockchain, and they use their own login methods to give you access. EG blockchain.info use usernames and passwords in a database on their systems. armory private keys are not standard bitcoin private keys. they are ARMORY private keys tweaked in their favour. remember if you can restore your keys using a password.. its hackable so no matter how trustworthy the 'companies' are they may have less trustworthy employee's or host their data on servers, with untrustworthy employee's maintaining the servers. learn to use paper wallets for long term storage and only use clients for small amounts. basically move the funds into a client wallet address, spend the coins. move the remainder (change) back into a paper wallet. and when doing the paper wallet make sure you dont use words.. think random generation of atleast 20 characters |
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unrelated to bitcoin....
finshaggy, please ease off of the weed. your brain is meandering through 20 projects a week. atleast try to concentrate on one project that actually uses skills you have and will actually benefit the community.
having 6million pictures of peoples hands? please tell me how you are going to utilise all of these hands to be of benefit to anything.
are they going to be 32x32 pixel images pasted together into a mass blurr of skin colour as a background image of a website?
are they going to be 5inchx7inch photos pasted together to cover the great wall of china?
i know you want to make a name for yourself and you want to do something big. but please once you have an idea.. sketch it out on paper or microsoft word. look at the logistics of how to complete it. what's required, what the end result will be. and how that end result will be used, maintained.
don't get me wrong i do see your passion in trying to do something. but your weed consumption is very notably impeding your ability to get a proper workable project off the ground, and into a functional and finalised state for others to use/experience.
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BTC guild solved that block. so they get 81BTC in fee's and the 25BTC reward.. thats a nice 106BTC to share out for 17 minutes work
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Yohan, i love your business ethics and as an englishman i love that we have a greatly respected UK manufacturer in the bitcoin community. im definitely in to buy some product in bulk from you. (dependant on price and spec of course  ) |
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authorities do not like defining things as it actually limits the options.
but in generalisation is: if your advertising products/ services to the general public (not just family/friends) then your a business
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the winkle twins have notr truly understood botcoins and are using bitcoin fame to till their own pockets. when investing through the winkle twins you do not own actual bitcoins. you own a digital numeric representation of a bitcoin, which actually never leaves the winkles ownership. basically you own shares in their holdings not the actual bitcoin they hold. it wont bring easier method to buy bitcoin, it wont be spendable in shops. its just a share purchase, so yes the winkle investments are just for the rich, not for the average consumer that wants actual bitcoins. |
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The foundation could also flush the private key for 24,000 coins down a toilet too, and it would be equally as productive. For every bitcent spent, the ad would reach about 45 people. If we can brainstorm up a better PR distribution then I'm all for it. advertising bitcoin is like advertising the Pound, Euro, Dollar. bitcoin itself is not ready for mass adoption of 'users', iit still needs more main-streaming from merchants. so if anything was to be advertised it would have to be the payment gateways for merchants to do transactions. and with that there needs to be a bigger diverse method of a merchant turning a bitcoin into a Fiat to then restock their shelves. relying on bitpay alone is too centralised, there needs to be a ACTUAL service for every country. and not a dollar dominant service which then converts to foreign FIAT at high costs and delay.. the average customer see's bitcoin as 'facebook credits' but without the facebook part. yes they know they can buy credits and use those credits online to buy different things, but it is still a hassle to go through that process. there really needs to be a big push to get FIAT into bitcoin and bitcoin into FIAT as easily as possible, with least fee's as possible before bitcoin is even worthy of having a prime time advertising spot. |
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I have a similar good deed project Ive been meaning to do but not the funds. Need to start a soup kitchen in my community there is none. Is there anyone who would invest in such a thing even though it will be a non profit or is that not cool
Yep definitely start small from your own kitchen, ask local grocery stores for food thats nearing 'use-by dates' as donations, seeing as they will be cooked up within a few days it wont go to waste. speak to the local's about donating, or getting grants. one thing you don't want to do is to be asking for loans. there are many ways to make funds. community car wash selling tickets for a community barbecue charity auction's (sell your cooking skills to all of the single mothers for one night ) now back on topic: This is a great campaign happening here, once my funds are in one place ill be putting in some donations, i already see its hitting the press too, which should also help the non reddit/forum readers to contribute to it aswell. Phinnaeus Gage: this bitcoin charity project is the best one yet, i do hope you continue idea's of this magnitude where people can clearly see the end result of their donations, as oppose to the corporate charities with paid employee's that are in existence for the last 50 years Seans outpost(Jason): your an inspiration to us all, giving up your time to help others, with such as basic necessity. we need more guys like you around the world. You may also find that there are a few web developers out there who may not have funds willing to donate, but may help develop your website into a bigger focal point for the world, explaining your story, how you got started and the impact it has made. (that kind of stuff). all in all, great work guys |
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yep very simple idea, the only issue is that greed overpowers rational thought in most people. meaning those promised a machine that spews out loads of coins per day only see dollar signs and think they are smarter for getting in first. well to those that think getting in first is the smart idea, here is something to think about
do they even have a working finalised PROTOTYPE ready for mass production?
if not, walk away, your not paying a pre-order your paying their R&D costs.
do they set limits to how many pre-orders they allow per batch?
if not, walk away, they have no clue how fast they can make machines, they just want as much money as they can grab.
if the delivery promise is over a month, and ROI is X months are you really profiting?
if not, walk away. alot of people find that a 3-12 month wait could have yielded them more profit playing the markets or even buying produce such as T-shirts, mugs etc and reselling them at a mark up value, repeating the process for the same 3-12 months.
unless a machine will actually give a ROI in under a month at time of delivery, knowing every 2 weeks the difficulty jumps. it is not that profitable to be on a waiting list.
instead invest your coins wisely else where
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im not sure the OP fully understands the business model of ebay, or he has not wrote the true intention of why he wants paypal to accept bitcoin.
PAYPAL does not sell products so getting paypal to accept bitcoin is just calling for abuse by the chargeback kings.
the whole idea of paypal (as a sole entity) taking bitcoin is for people to buy bitcoin using paypal accounts. which of course smells scammy to me. if anything i would have suggested EBAY (ignoring the paypal part) to take bitcoin so that people can sell their products in exchange for bitcoins without the need of a paypal account..
if he truly wanted an easy method of purchasing bitcoin legitimately and without scamming the other person, he would be trying to do a petition to get VISA/Mastercard to be bitcoin friendly, much like fidor bank and other banks are becoming bitcoin friendly
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No company in the game to make a profit would sell ASIC hardware below the expected value of all Bitcoins the miner will produce during its useful life.
so in the days of the wild west no one sold a pickaxe for less the the average earnings of a gold miner in his life time so in the industrials age no one sold a stick of dynamite for less the the average earnings of a gold miner in his life time so in todays times no one is selling excavators and shloosh machines for less the the average earnings of a gold miner in his life time. next you will be telling me that farmers have never sold a potato at wholesale to retailers but instead sold every potato they dug up at retail price... |
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at the moment 100Ghash earns you 1BTC a day....so thats 4BTC a day
so if the equipment arrived today you'd be earning about $500 a day, in which case you'd get back your investment in a week.
now here are the buts.....
*the difficulty in november will me MULTIPLE TIMES higher meaning you wont be earning the same income as now
*the risk that 'if it sounds too good to be true' ... it probably is
*with that, what promises or guarantee's do you have of a refund. EG do you know their street address and directors name(s).
*are they even in travelling distance to slap them with a wet fish if they dont forfil promise.
*even if they are developing units, how certain can you be of the date of delivery. do they even have a working prototype, or is it all still theoretical
100Gh gets you .44 btc per day, and for about the next 10 days ( 2 days ago it was .58 day, you should find a different calc). my spreadsheet is estimating that by mid november, the diff will be approx 250M. at which time 400Gh will earn about .7btc per day. 400G delivered by mid Nov might make you about 30btc....then you also have to consider elec... 500Gh of 65nm chips costs me about 7 dollars day. well i have an avalon and at 80Ghash average im earning roughly 0.8BTC.. so doing the maths 100Ghash would get me 1BTC today...im not sure what your doing wrong or what pool your on, but you seem to be missing out on some profit |
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at the moment 100Ghash earns you 1BTC a day....so thats 4BTC a day
so if the equipment arrived today you'd be earning about $500 a day, in which case you'd get back your investment in a week.
now here are the buts.....
*the difficulty in november will me MULTIPLE TIMES higher meaning you wont be earning the same income as now
*the risk that 'if it sounds too good to be true' ... it probably is
*with that, what promises or guarantee's do you have of a refund. EG do you know their street address and directors name(s).
*are they even in travelling distance to slap them with a wet fish if they dont forfil promise.
*even if they are developing units, how certain can you be of the date of delivery. do they even have a working prototype, or is it all still theoretical
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why is it that all the people that want to be the 'poster boys' (the main face media see's) of bitcoin, all have some social issue.
Max Keiser - great economist but goes off the rails with his analogies
Amir Taaki - well if you seen any of his interviews with media, you don't need me to explain it
Trace Mayor - UFO/Alien protection fund, space travel investments..
we need some level headed people on the frontline to be teaching the world about bitcoin. although the 3 named people above have put alot of their personal time and money into bitcoin, when it comes to public appearances, their personalities let them down and suddenly people start to think of what they are hearing should be taken with a pinch of salt.
although the guys from bitinstant are on the libertarian camps, they do seem to have a more level head and don't come off too eccentric with their delivery.
if i was to request a spokesmen to teach a government, financial body about bitcoin i would still choose the bitinstant crew over Trace Mayor.
it seems like Trace Mayor has a 'i am a rich snob' aura to him and he seems most interested in the financial spending/looking after of the foundation. and from what i can see of his projects which he request donations for thus far, the end results/accomplishments would never flourish.
there has to be someone better out there then the current line up of candidates.
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think of any game where you can give other users items, packs, gifts, whatever. and they have a conversation/chatbox.. that is the only 2 requirements of any game being used as a decentralised bitcoin game.
example
User 1
"Im looking for golden wings to fly to magic mountain"
User 2
"I have them it will cost you 0.01BTC please send to 1RanDomBitcoinAddress, and they're yours"
User 1
funds sent via bitcoin QT/blockchain.info/armory
User 2
checks his bitcoin client, tabs back into the game. sends gift
- games do not need any additional function other than a chat box and a gift sent option -
so think of any game with those two options and you have a decentralised bitcoin merchant game
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most effective way is for satoshi to do this.
put coins into BTC-E/bitstamp, then withdraw the dollars to something like OKPay and withdraw as a debit/prepaid card delivered to a temporary address..
he could easily put steps inbetween such as change the coins to another coin such as litecoin. withdraw that and then deposit into another exchange.
but it doesnt take that much effort to confuse people and get money out while still remaining anonymous.
all people will know is that satoshi finally moved his funds out from the original wallets.
he wants to keep his real identity a secret, so ofcourse he is not going to cause a big publicity stunt.
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