Not wanting to step on anyone's toes here, but I like the unethical possibility. Not that I want to start any unethical event prediction, but I do want to be able to do so, if I choose to  Well I hope we can at least agree that an assassination market would be wrong and to be avoided... |
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Looks like the opportunity is now gone (and for the record, I was neither bidder nor ask'er in any of these transactions; just an interested party) |
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According to Bitcoin Watch, someone's on bitcoinmarket bidding for 5000+ bitcoin @ $0.0639, which is much higher than the bid price at mtgox ($0.0623). If you've got bitcoins to sell, sell on BCM, buy them back on mtgox, and you've made a nearly risk-free profit. |
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I think a big publicity splash should wait until Bitcoin 1.0. Bitcoin still has way too many rough edges for ordinary folk to use (watch them run away screaming as you try to explain that it is NORMAL for it to take half an hour to download the block chain the first time you start Bitcoin....).
Agreed... payment systems for businesses need to mature as well. MyBitcoin just got a payment processor / SCI, but it lacks docs, polish, and support for more than one programming language. |
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Learn the lesson of Prosper.com: in absence of collateral or army of lawyers, people will not pay back loans even if risk is priced at 100% interest.
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UK'ers can buy bitcoins with GlobalDigitalPay GBP at The Bitcoin Store. Get out while you still can! </blatant plug> |
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I maintain that per these definitions, Bitcoin cannot possibly be described as "money". And further, I think that those who do describe Bitcoin as "money" are doing this community a disservice.
+1 agreed. It's a commodity, a digital store of value. |
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Inappropriate legal terms have been thrown about casually in reference to Bitcoin, and these may be prejudicial to Bitcoin's survival. They need to be addressed and eliminated positively, and directly. Bitcoin can be structured so that it is not a currency, is not taxable, and is not reportable. This means no 1099s or other forms, IF we do this correctly.
For United States citizens, it is highly likely that bitcoin matches the IRS's barter rules, if nothing else: http://www.irs.gov/taxtopics/tc420.html |
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URL: http://www.cnbc.com/id/39271495How much of a boost to the U.S. recovery could another trillion dollars or two buy?
That's a tricky question for the Federal Reserve when it meets Tuesday to debate what would warrant pumping more money into the financial system. [...] Fed policymakers are trying to gauge how much they could achieve if they resume massive quantitative easing.
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More currency, barter, legal tender info (see http://en.wikipedia.org/wiki/Currency) describes how a Central Bank may have sole control over a nation's CURRENCY (as opposed to foreign currency that are sometimes specifically lawfully excluded as payment substitute for the national currency). Central Banks generally does not have sole control over COMMODITIES. Exchange control also has legal implications when dealing in foreign currency (currency other than the national currency) in some jurisdictions (see http://en.wikipedia.org/wiki/Foreign_exchange_controls). When owning the keys to unlock a mathematical problem, it should constitute a store of value in the form of COMMODITY ownership of instant access to a mathematical sollution to a complicated problem. At the Bitcoin Store, we consider bitcoins a digital store of value, closest to a commodity. bitcoin's properties more resemble a commodity IMO, and legally speaking it is less questionable to call it a commodity. In fact, I propose the official description be changed to "a digital P2P cryptocommodity" rather than "cryptocurrency". |
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If it is possible to see individual or total of transactions sent to a specified bitcoin address, I suggest someone to write a patch to make this available in APITotal of transactions sent to specified address (or label) are getreceivedbyaddress <bitcoinaddress> [minconf=1]
getreceivedbylabel <label> [minconf=1]
Individual transactions can be dumped from 'listtransactions' patch, though that lists all addresses including desired bitcoin addresses. |
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How to grow the Bitcoin idea and avoid that governments shut it down?
Help make sure well over 50% of the businesses using bitcoin are legitimate, tax-paying, regulation-complying business entities |
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Thanks for the info jgarzik. I didn't realize there were transaction fees. When/where are those fees incurred?
There are no fees on your average transaction. However, see https://www.bitcoin.org/wiki/doku.php?id=transaction_fee for specific details. Even at 0.01 BTC though this would still be a viable solution for the vast majority of Facebook developers. Unless BTC rapidly appreciated vs. USD and the transaction cost didn't fall accordingly.
Absolutely. I think bitcoin is definitely a viable microcurrency for facebook and similar apps (such as mobile apps). |
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I'm no programmer, but it seems to me that bitcoins solves this problem:
1) transaction costs are zero
2) transaction amounts can be very small
1) Transaction fee may be 0.01 BTC. Also, cost accounting should include your bitcoin client setup, if you are going to hook directly into the bitcoin P2P network. 2) Transaction amounts smaller than 0.01 BTC incur a 0.01 BTC transaction fee. Currently, 0.01 BTC is equivalent to 0.0006 US dollars. |
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Enjoy, community! (donations accepted at address in my sig, it certainly wasn't free ) |
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I certainly won't turn down donations... (see sig)
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This patch was authored by Gavin A. I broke it out into patch format, in case some people found that more useful than git. URL: http://yyz.us/bitcoin/patch.bitcoin-testnetworkFor the future, I hope to add a "-testnetwork" switch which will enable network switching without recompilation. |
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Patch updated to latest SVN.
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Patch updated to latest SVN.
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