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As Rassah said, the biggest issue is moving fiat in and out of the exchange reliably. I don't know how this can be done without a centralized medium. I suspect it can't be, and if it can, government wouldn't allow it to stick without their rules of "regulation."
So, until there is a true Bitcoin economy, by which I mean people working by and large for Bitcoin, completely independent from fiat, it can't happen. Tricky. Bitcoin and the dollar are completely tied to the same ball and chain in the ocean until one is able to live off their Bitcoin as their major currency. As long as we must swap our USD for BTC, we're not going anywhere, and the market will continue to be victim to manipulation.
Plenty of posters said it before, but I'll say it again: it's time for a revolution.
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I'm in agreement; a decentralized currency needs a decentralized exchange.
So how do we do it?
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Do you really believe what Wikipedia says. You know that online encyclopaedia that anyone can edit?
You mean that one website that keeps changing my edits about Charlie Sheen from "Half man, half cocaine," to something actually factual? Yeah I hate those guys. No sense of humor. |
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jew babble  And anyone who disagrees with you is Jewish, therefor implicitly biased. Are we done yet? |
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Who invited all the anti-Semites? I guess it comes with the "down with the banks" package.
Anyway. One reason to ditch gold. But let's not pretend Bitcoin can't be subject to winding up largely in one man's pocket.
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What I find interesting is how the authorities are tolerating these known attacks on bitcoin sites as it is effectively criminal activity (they may even be encouraging or facilitating it in some way). For instance, if the same activity were taking place against banks, NYSE, IRS, etc there would be hell and fury raining down from everywhere. I don't think bitcoin businesses need the same protections as the established financial systems, in fact I think these attacks will only serve to make the whole bitcoin ecosystem stronger.
However, by tolerating criminal activity, against whoever, then authorities are allowing a culture to build up and desensitising the norms as to what is permissible behaviour. Therefore, it is only a matter of time until these types of attacks and malign forces that have been tolerated in the bitcoin sphere, turn their guns on the establishment exchanges, banks, institutions. They play a dangerous game thinking they can allow fires like these to burn only for them.
The authorities are on the beck and call of the dollar. Why should they help us? The sooner the state is put to rest, the better off we'll be. |
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so why do the jews always quarrel over their numbers? huh?   Because you're a racist. Jews always do what you think they do. |
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It's the implicit in the OP. How can anyone not understand why there are hardly any chicks in Bitcoin? It's the same reason there are no chicks doing anything geeky, its because their brains are biologically different.
To question this fact is to further the egalitarian agenda of insidious socialists.
One might argue it's dangerous not to question the fact. If all I ever rolled with is how you felt, how would I ever find out for myself? After all, I wasn't asking in rhetoric; I was genuinely curious. You're not the end-all for the discussion of why women like the things women like. In fact, there's something very odd about your own agenda; and what are you pushing, exactly? Ah, fuck it. You don't have a piss-yellow ignore button for nothing. Room for one more? |
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True, in most cases they won't be able (or won't bother) to find you. But the fact that you can escape being taxed, doesn't mean you are legal. Quite the opposite. You are breaking the law, and what you are telling me (quite right) is that it will be difficult for them to discover you. Yes, possibly, just the same as if you work for cash and don't declare the income. Still, it's a) risky and b) illegal.
If you're worried about the IRS, don't let me stop you. Report all your earnings on BTC and roll with it from there. |
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If Bitcoin makes it huge, you're going to see a huge shift in culture.
People will not only be encouraged to save, save, save, but when they do make purchases, they'll have to be patient for the funds to go through.
That will pretty much quash the live fast, die young, get fat, impulse-buy mentality America has and likes to push on the nations it conquers. I'm all for that.
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To be fair, the price went sky high in a very short amount of time. I'm talking just April, and just the past few days.
I sense the market is being heavily manipulated.
It's probably being manipulated by the jews. Remember Israel was the number 2 country on Google Trends that searched for bitcoin. It's in their blood to manipulate and steal everything they can get their greedy little paws on. Their whole religion was founded on the idea that it's okay to manipulate others for profit (Jacob/Esau). I'm sure it's possible, but I don't see any sign of Jewish influence on the exchanges thus far. Unless you're joking I can't tell anymore. |
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Exactly mike. Why are you all buying into the idea of ddos attack? Its clear as day the price is being manipulated and very obvious mtgox has a major involvment. Boycott mt gox. The longer I am involved the more clear it has become. I believe mt gox is created by the satoshi character and theres a reason he's been anonymous. Mt gox is taking you all for a ride and reaping tremendous profits In the mean time. They're creating the panic and capitalizing on their calculated value crash and rise. Playing the physiological ballfield. Come on ppl.
To be fair, the price went sky high in a very short amount of time. I'm talking just April, and just the past few days.
I sense the market is being heavily manipulated.
That is natural during a collapse though. As the price goes down the bulls keep buying back in at the end of each day thinking they are getting a steal. I doubt the next day or two will be pretty but, I'm ok with it either way. Just waiting to see what happens next with my bowl of popcorn. The price rose based on speculation. The "DDOS" attack is actually panicked sellers trying to sell, speculators trying to buy "cheap", and others trying to look at prices. The exchanges just never expected so many new speculators to enter the market so fast and their infrastructures can't handle the load. It could be either way, but until the balance of who uses what exchanges evens out, it'll be hard to say. If Gox really is garnering ~80% of all BTC trade, we must diversify, and then, if stability ensues, or volatility continues, we'll have some idea of what was really going on today. It's unsettling to know that the price of a single Bitcoin is unanimously weighed by what Gox is doing. While Gox swung from 200 to 100 and back again, Vircurex (the only other exchange I was looking at so sorry for lack of examples) was completely steady at about $140 the entire time. OTOH, I'm pretty sure I heard Bitstamp hit sub-100 levels, so who knows? I don't. |
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For some reason, women aren't quite as interested in Bitcoin as men are, despite Bitcoin not being targeted at any one gender.
I find this extremely unusual. Upsetting, even. So what are women interested in? What could be more interesting than this?
FFS Socialist dreams of a bullshit egalitarian world are utter dogshit Chicks like make-up and dressing up in shoes, jabbering with other girls, pissing and moaning, soap-operas and my cock. That's all Through evolutionary stress, men have evolved to have more mental dynamism and logical capability. Bitcoin comes naturally to us. Hence there are no chicks on Bitcoin. Whoa there. Nobody said anything about socialism and egalitarianism. |
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The answer is simple:
Get Bitcoin. Keep Bitcoin. Spend Bitcoin.
The IRS only works when it comes to the dollar.
Are you sure about that? I think the guys above that mentioned barter income are correct. If you spend bitcoins, in the eyes of the IRS it's as if you sold the bitcoins and used the USD proceeds to buy goods. So at the time of spending them you are subject to capital gains tax. This should apply regardless of how you got the bicoins. Example 1: You buy 10 BTC @ $10. A year later you buy something for 5 BTC. At that time 1 BTC = $100. You are liable for tax on capital gains of 5 BTC * (100-10) = $450. Example 2: You mine 10 BTC. Price of BTC when you mine them is $10. Later you spend 5 of them, when 1 BTC = $100. You are liable for tax on capital gains of 5 BTC * (100-10) = $450. In the second example you haven't even touched dollars yet you have to pay taxes. Be very careful with taxes. You could be right. However, the IRS is American, and Bitcoin is global. If the IRS plans on profiting from someone's gains, they would first have to figure out who has Bitcoin in America and how much Bitcoin they have. This is very difficult to do, as the IRS does not keep tabs on Bitcoin; they only keep tabs on USD. It would be the same as trading cash; the IRS can't tax you when you hand your buddy 50 bucks for fixing your roof; they can only tax your buddy if he spends that cash on, say, food, or clothing, and then the inescapable taxes of land etc. One would need to declare he is making purchases with Bitcoin for the IRS to tax them for it. Otherwise, it's as if it's not happening. |
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No it's not obvious and what are you talking about, me needing to provide my own proof for acting solid, etc?
What the proverbial fuck are you talking about?
Now again, can you provide proof of this massive DDos?
Several websites were being DDoS'd (including this one all morning long) at the same time the crash was going on. They could be related, but I'd wager the DDoS wasn't helping. Why it would work, I haven't a clue. Just an odd coincidence, if anything. |
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I'm looking into starting up an exchange in light of some glaring problems. Excluding reliability and no latency, what functionality and features would you want as end user over the likes of mtgox and btc-e
Decentralized, easy to fund, makes me coffee. Well, as long as you get one of these, I'll be happy. |
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To be fair, the price went sky high in a very short amount of time. I'm talking just April, and just the past few days.
I sense the market is being heavily manipulated.
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The answer is simple:
Get Bitcoin. Keep Bitcoin. Spend Bitcoin.
The IRS only works when it comes to the dollar.
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bs.
usual jew procedure:
summon 4 fucked jews and claim you are meaningful when in fact you are jew scum 'en masse'.
bs. usual idiot procedure: summon 3 fucked sentences and claim you are meaningful when in fact you have no shift key. |
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Price settling around 130 for now.
Looks like tomorrow we'll be in another bubble.
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