That volume (or lack thereof)... lol. Steadily climbing price with historically low volume is red flag for manipulation, especially in speculative markets like stocks. You can find countless examples in the arena of penny stocks. Good job bots. *edit* I shouldn't give all the credit to bots. Gox preventing USD withdrawals certainly assisted the bots.  Yes falling volume is an indicator of a weakening trend (bullish or bearish); however for better or worse I do not believe we can use changes in the MTGox USD volume over the last six months alone as a market indicator without also taking into account the changes in volume in other exchanges notably Bitstamp and also the changes in volume in non USD currencies on MTGox. |
|
|
|
This is my favorite slide:  So the message here is (since this is the speculation forum): NSA has cracked Bitcoin, therefore one should sell. |
|
|
|
In my example the 47 year old lawyer died before the 90 year old who sold the apartment to him and when his estate finally got the apartment after 32 years, the total amount of payments made to the 90 year old until her death at age 122 was more than twice the value of the apartment. Yes this thread is about promoting Bitcoin to everyone regardless of age not to just arrogant 47 year olds (or 20 year olds) for that matter who believe they are going to outlive a 90 year old and are then proven wrong.  For every 80-yr-old lady who outlives a 47-yr-old arrogant lawyer, there are hundreds of 47-yr-old arrogant lawyers who outlive their respective 80-yr-old victims. If this sounds improbable to you, you have a big heart, but (at best) a shaky grasp of statistics. If you wish to do nice things for old people, i'm sure your local church or charity would gladly accept your contributions. This thread, on the other hand, seeks practical ways to achieve wider bitcoin acceptance -- it's not your soapbox for preaching anti-ageist political correctness! Making bitcoin accessible to people who are ready to drop dead sounds to me like the kind of nannystate-socialism Obama would think up! So what do you suggest they use instead? PayPal? Debit Cards? Credit Cards? Oh I know since you are in the United States an EFT card so that: 1) The "nanny state" can control how they spend their money 2) The so called "free enterprise" partners of the "nanny state" can collect fees on every transaction What many people fail to understand is that the elderly is the fastest growing demographic in North America and that Bitcoin is actually something they can relate to since it behaves like cash and gold. Bitcoin is way simpler to use than all the the electronic alternatives being promoted regardless of age. |
|
|
|
In my example the 47 year old lawyer died before the 90 year old who sold the apartment to him and when his estate finally got the apartment after 32 years, the total amount of payments made to the 90 year old until her death at age 122 was more than twice the value of the apartment. Yes this thread is about promoting Bitcoin to everyone regardless of age not to just arrogant 47 year olds (or 20 year olds) for that matter who believe they are going to outlive a 90 year old and are then proven wrong. |
|
|
|
Ssl Certificate is for tibanne.com, not a great look when chrome recommends you not to open the site....
Same here with Firefox |
|
|
|
This sounds ugly and calloused, but going after eighty-year-olds makes no sense. Unless you're pushing age-specific services, don't bother focusing on 44+ -- most marketers don't. Not only are the spending habits all wrong, but by the time 80-yr-olds adopt bitcoin, what will they buy? A casket, a grave plot or an all-expense trip to a crematorium?
Let's keep focused on realistic goals.
Actually Bitcoin makes a lot more sense to someone who was brought up using cash and experienced the great depression and bank runs of the 1930s even as a child than every other form of electronic money today. As for what an 80 year old can do with Bitcoin here is an idea from a 90 year old to fund one's retirement: In 1965, aged 90 years and with no heirs, Calment signed a deal to sell her former apartment to lawyer André-François Raffray, on a contingency contract. Raffray, then aged 47 years, agreed to pay her a monthly sum of 2,500 francs until she died. Raffray ended up paying Calment the equivalent of more than $180,000, which was more than double the apartment's value. After Raffray's death from cancer at the age of 77, in 1995, his widow continued the payments until Calment's death.[2] During all these years, Calment used to say to them that she "competed with Methuselah".[9] http://en.wikipedia.org/wiki/Jeanne_CalmentIt doesn't matter how much sense bitcoin makes to people with: a) No money b) No computer. c) Expected lifespan < 2 yrs. Anecdotal evidence (the story you posted), while proving that X is possible, doesn't imply that X is likely. While there may be people who live to be 150, it's foolish to gear your product to 150-yr-olds if you're in it for money & not just lulz. As far as remembering bank runs as a child? If you're old enough to remember those, you're old enough to *not remember anything else*. I'm sorry, but if i'm over 80, i prefer to be mercifully put down over having to trade in bitcoin on this forum  So I take it you would consider purchasing the apartment like André-François Raffray but with payments in BTC, so now we need to find an 80 year old with an apartment to sell. |
|
|
|
This sounds ugly and calloused, but going after eighty-year-olds makes no sense. Unless you're pushing age-specific services, don't bother focusing on 44+ -- most marketers don't. Not only are the spending habits all wrong, but by the time 80-yr-olds adopt bitcoin, what will they buy? A casket, a grave plot or an all-expense trip to a crematorium?
Let's keep focused on realistic goals.
Actually Bitcoin makes a lot more sense to someone who was brought up using cash and experienced the great depression and bank runs of the 1930s even as a child than every other form of electronic money today. As for what an 80 year old can do with Bitcoin here is an idea from a 90 year old to fund one's retirement: In 1965, aged 90 years and with no heirs, Calment signed a deal to sell her former apartment to lawyer André-François Raffray, on a contingency contract. Raffray, then aged 47 years, agreed to pay her a monthly sum of 2,500 francs until she died. Raffray ended up paying Calment the equivalent of more than $180,000, which was more than double the apartment's value. After Raffray's death from cancer at the age of 77, in 1995, his widow continued the payments until Calment's death.[2] During all these years, Calment used to say to them that she "competed with Methuselah".[9] http://en.wikipedia.org/wiki/Jeanne_Calment |
|
|
|
At some point Bitcoin-Qt will change such that it's able to delete old blocks. The details are still being worked out, but most likely you'll be able to say "Use up to 10 GB of disk space" and it will never use more than that. Nodes will broadcast how much of the chain they have and are able to serve. New nodes that are starting from scratch will have to search out other nodes that still have the full chain and sync from them, but any node that just wasn't online for a while and needs to grab the latest parts of the chain will be able to use most of the others. By controlling disk space usage, you can also indirectly control bandwidth usage (you can't upload data you don't have).
What happens, if in a hundred years from now, almost everyone is using the "Use up to 10 GB of disk space" feature? All the old nodes can probably keep up, but new nodes starting from scratch won't be able to find a node with the full chain, or have difficulty doing so. Or is that a problem we shouldn't worry about for the next 50 years? I can see full nodes "centralizing" then, but it's possible that there will be entities or countries that will maintain a full node independent of other full nodes. Right now, everyone running QT or the reference client is a full node. I can see a far distant future where no normal or regular individual has a full node (except for the geeks / enthusiasts / those who can afford), but there will still be at least maybe 1 full node per country with the bigger countries having several, maybe one per university or one per "department" or "agency" or one per "private corporation". I mean, large companies already maintain servers for all sorts of purposes. What's another one just dedicated to just bitcoind with 500++ gigs of space (or whatever is the then current capacity of hard drives or equivalent)? I disagree because we are forgetting about the past in a very big way. While the size of the blockchain is growing at an exponential rate the amount of resources required to store and transmit data is falling at an even greater exponential rate so the ability of running a full node will remain within the financial abilities of regular individuals that choose to for years to come. I actually expect the number of full nodes to increase over time. They will for the most part lie with those who choose freedom, Free Software and GNU / Linux over those who choose subservience, DRM, propriety software, and locked devices such as those running IOS and recently some running Microsoft Windows. Let us instead of trying to look 100 years into the future take a look at 100 years into the past, and ask the following question: How much would it have cost to send 1MB of data over the telegraph network in 1913? At say 0.50 USD per 10 words http://eh.net/encyclopedia/article/nonnenmacher.industry.telegraphic.us, and let say we can encode 4 bytes per word. This gives us 250000 words or 12500 USD in 1913 dollars. This was way outside of the budget of the average person, but something a millionaire (billionaire in today's USD) such as J. P. Morgan http://en.wikipedia.org/wiki/J._P._Morgan could have afforded. Today of course sending 1MB of data is so close to free that it is very affordable to even some very poor people. There is a real danger here for Bitcoin it that many for fear of loosing the decentralized nature of Bitcoin to a growing blockchain, will cripple Bitcoin with arbitrary limits, while ignoring the real threat to the decentralized nature of Bitcoin. This threat is that in the future regular people will not be able to run a full Bitcoin node because their computing devices are locked down and infected with DRM. Cost will not be the limitation in the future DRM will. Even today I can purchase a computer perfectively capable of running a full Bitcoin node and pay for it with Bitcoin at FreeGeek http://www.freegeekvancouver.org/ for way less than the price of an iPad or Windows 8 RT "computer". |
|
|
|
Bitstamp doesn't lie to regulators about its status as a money transmitting business. Bitstamp doesn't "forget" to update their registration information.
If you are going to work with regulators, it's a good idea not to lie to them.
Bitstamp hasn't registered with FINCEN. They aren't even trying to become compliant and are therefore attractive to criminals/money launderers. Only a matter of time before the fed takes down bitstamp. Probably btce too. ... or only a matter of time before they simply choose to not do business with US citizens, residents or other US persons, as many financial services firms around the world are doing. This is quite unrelated to Bitcoin I must add. |
|
|
|
$6000 arb between gox and virtex.........
this is because i am currently locked out of my account at virtex... my cat killed the wire to charge my tablet and i have 2 factor Auth... stupid cat, costing me such a good opportunity... What kind of cable? You cannot go out and buy a replacement? |
|
|
|
$6000 arb between gox and virtex.........
Try getting CAD into Virtex in before the balance of that 500 BTC wall is gone. It is already down to under 150 BTC. |
|
|
|
Only 40k coins to surpass April's peak. Lmfao, the crash following gonna be so epic. I'm revising former prediction of single digits, to double cents. Probably $0.67.
On which exchange? Gox. The ask depth has been steadily vaporizing. NO ONE wants fiat on Gox. We are going to rocket up like never before imo. New highs within a week. Then incredible crash. So those holding MTGox USD CAD will make a killing in this bear market? Edit: Scratch MTGox USD to risky, but MTGox CAD that would be interesting. |
|
|
|
Only 40k coins to surpass April's peak. Lmfao, the crash following gonna be so epic. I'm revising former prediction of single digits, to double cents. Probably $0.67.
On which exchange? |
|
|
|
Hedging your bets is usually a good idea. I really don't get why people are so afraid to put in even $100 at this point.
Because the price is still very low. When Bitcoin is recommended to the average consumer by the mainstream media as an investment then it will a very good indication that the time to sell has come. A really good indicator as to when to go short is when it is promoted on late night TV. This by the way applies to many investments not just Bitcoin. |
|
|
|
|
Bitcoin is to bittorrent as e-gold was to napster.
|
|
|
|
Er, what?
How does wire even come close to being competitive with bitcoin fees that are fractions of the original amount? Does not compute.
Try selling or buying 1,000,000 USD or 100,000,000 USD worth of Btcoin without moving the market. |
|
|
|
|
It really depends on the amount and I would consider 1000 USD to be close to the cutoff point between Wire Transfer and Bitcoin. The key here is that for the most part the Wire transfer fees are fixed while for Bitcoin liquidity can start to be an issue as the amount increases. Above 1000 USD Wire transfer starts to be come competitive with Bitcoin and becomes really competitive with Bitcoin over 10000 USD. As for Paypal it starts to get competitive with Wire Transfer below 1000 USD and may be competitive with Bitcoin in some cases for small amounts.
Where Bitcoin really wins is below 1000 USD and especially below 100 USD where either the recipient or the sender cannot get a PayPal account. This is the case for most migrant worker remittances to family members. This is typically from a "rich" country in North America, Europe, parts of Asia. the Middle East etc., to a "poor" country in Africa, Central and South America, parts of Asia etc. By the way this is a multi billion dollar business.
A good example is someone sending 70 CAD from Canada to Kenya. I actually witnessed this one here in Canada, while waiting to pick up some Bitcoin related correspondence, at the local Post Office.
|
|
|
|
First my disclaimer: I am not a lawyer, accountant or other financial advisor and this should not be construed as legal, accounting or financial advice The question of whether Bitcoin is subject to GST is a valid one, and if we assume that it is indeed subject to GST there is no practical way on Virtex for the seller to collect the GST or more importantly for the buyer to obtain a GST number and receipt for the GST on the Bitcoins as opposed to the fees in order to be able to file a claim for a refund if appropriate. So this question needs to be answered. One only needs to see the many EU VAT threads to recognize the issue here. Now having said that I do not believe Bitcoin is subject to GST and posted my reasons why in the following post https://bitcointalk.org/index.php?topic=77186.msg886127#msg886127. It comes down to whether the definition of money in section 123 of the Excise Tax Act http://laws-lois.justice.gc.ca/eng/acts/E-15/page-94.html#h-71, legislation from the the 1990's, is broad enough to include Bitcoin. The argument I would make is that Bitcoin is similar enough to currency and that its primary use is as money so it is be included in " and other similar instrument " under the act. I would also argue that it is in the Government's best interest to not treat Bitcoin as subject to the GST for the very same reason I indicated in the German / EU VAT case https://bitcointalk.org/index.php?topic=277473.msg3002465#msg3002465 |
|
|
|
|
Show Posts
