Yes, but there would still be a few hours between between the time I receive the cash, deposit it in my bank account, fund my exchange account, and buy more bitcoins. The previous poster pointed out that the the price could just as easily fall during this time lag. If the odds of the price falling against the price rising were 50/50 then I would feel comfortable, but my worry is that because bitcoin is trending up in the short, medium, and long term, the odds of the price rising during the time between sale and purchase are significantly higher, maybe 60/40 or 70/30. If this is the case, then it seems like this would not be profitable.
Trust me, I've been doing this all year. It works. The key is robust pricing formulas, not just a simple commission. Check out the example here: http://localbitcoins.blogspot.com/2013/06/this-is-first-in-series-of-posts.html |
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Create an account on LocalBitcoins. Get a fully verified account on Coinbase. Get a couple bank accounts separate from your existing one(s). Link bank accounts to Coinbase. Buy some bitcoins and send them to your LocalBitcoins wallet so that you can fund sales instantly. Sell Bitcoins. Take the cash you receive and deposit into one of your bank accounts. Buy more bitcoins with Coinbase. Make sure to charge enough so that you don't lose money. |
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Coinbase is almost at $275.
They must need coins badly.
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$251.19 surpassed on the daily weighted price for the first time ever.
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If I were the CEO at Gox. I would of fired my CTO and technical staff 6 months ago. They are a bunch of monkeys fucking a football. Mt Gox is a one-man show. It's run by the owner/programmer/CEO: Mark Karpeles. Only this year did he start to hire/outsource employees, and they are just to handle KYC compliance and customer support. |
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Rather than quietly and tastefully wait for some feedback on their ideas, the professor immediately Tweets "You heard it here first: now is a good time to sell your Bitcoins." He then proceeds to blog "Bitcoin is Broken." News outlets, seeing no reason to believe two guys with PhDs employed by prestigious Cornell University are spraying FUD with a large diameter hose, run with the story that a fatal flaw has been discovered in Bitcoin, and its collapse is iminent. Based on his behaviour over the last few days, I give him an 8/10 for douchebag. He's eligible for a perfect score if it turns out he posts on this forum as "revans" and if he's in any way related to the DDoS attempts on the exchanges and charting sites yesterday. |
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Alright this time I think btcchina led the recovery instead of stamp. What do we call this instead of a stampede?
Kung fu |
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Rape has a negative connotation, but government (the word itself, meaning a system of laws) doesn't. Rape is always bad; government (or if you prefer, governance) is only bad if it is centralized.
Not at all. Rape and consensual sex are the exact same physical action, the only difference being the consent. Government is different from all form of voluntary interactions between humans exactly because it is not voluntary. Government is one group of people using force and threats to impose their will on another group of people. We have other words to describe the kinds of interactions that happen between willing participants, and none of those words are "government". |
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One thing that occured to me recently is that Bitcoin is a government. Not a coercive central monopoly government, but a system of laws. These laws are not just strictly enforced, they are absolutely unbreakable. You cannot commit a "crime" in Bitcoinland, so no criminal justice system - no police or courts - are needed. No legislature is needed because the laws never change. It just occurred to me that dating is rape. Not the type where one party does not consent, but a mutually beneficial and agreed-upon interaction. No force or threats are needed, because both parties are in agreement. Dating is a vastly superior form of rape. |
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With the increase network difficulty today. The amount of BTC being generated will put further strain on BTC supply.
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Pretty much what I already posted in this thread, and what people generally tend to think of Vessenes already. Also he had some cool plans for Weexchange that seem to have not materialized.
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He showed up to a couple Bitcoin Meetups in Dallas during the summer and had lots of interesting things to say about Mark, Mt Gox, and Coinlab.
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Really the person to ask about what's going on behind the scenes at Mt Gox is Ukyo.
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yes, mt go has been known to double spend.
after a week or so most people so far seemed to get their coins. soo far at least.
Output selection for withdrawals is custom code written by Mark in PHP and MySQL... |
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Bitcoinity had seven months to prepare something special for breaking $266 and nothing.
I guess it was nice to see the All Time High icons again anyway.
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20 more pages and this thread will catch up with my birth year.
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Attempt to crash the market via FUD+DDoS not as successful as last time.
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