Wouldn't it be easiest, at the moment, to have accounts and balances at each exchange. Then if you saw an opportunity, you could take it without waiting for transfers.
Yes, this is the way. It takes bitcoins to make bitcoins  Have ready money in multiple spots and buy the underpriced coins, move them to the better market and sell them. It will also in the end help regulate price. |
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As soon as the other exchanges become more liquid there will be more opportunities. I am not sure about all of the exchanges but most of them do not allow money to move BETWEEN members accounts. There are reasons for this of course, but because GOX allows money to move between members (in USD) the site becomes even more liquid.
Dwolla in other exchanges will make the more liquid as well.
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We are not talking about you, but about security practices and how dumb some people are revealing their personal data on public forums without even realizing it
But you are talking about me since I'm the dummy who revealed the personal data that my deepbit password is over 20 characters long. Now, in a matter of months, if not sooner, any sufficiently crafty scriptkiddie could have access to my deepbit account. Or you have a well protected 19 character password!  |
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Anybody here still selling dummy plugs?
I am selling the resistors to build dummy plugs for bitcoins. Well at least at the current exchange rate... less then .4 btc shipped. http://cryptoanarchy.us/ |
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The beautiful thing about the design of Bitcoin is that the difficulty automatically adjusts itself to account for the total mining output of the entire Bitcoin ecosystem. So if mining is too profitable, then the difficulty level will rapidly squash it back down. Which is happening.
You have it backwards. The price began skyrocketing right about the time of (when everyone knew it would be imminent), and even moreso AFTER the last difficulty increase. The market is adjusting (and over-compensating) for difficulty increases, not the difficulty adjusting for the market prices (though that may happen indirectly). This suggests nearly the whole of Bitcoins' value is based on how difficult they are to produce and not, for example, its adoption as a currency. Difficulty follows price. Price does not follow Difficulty. Take a look of the 12WMA of price plotted with Difficulty and be amazed. I would also say that difficulty follows price. Bitcoin adoption increases price then more miners come in and difficulty goes up to take most (but not all) of the profit out of it. If the adoption rate continues go grow mining will remain profitable as there is a lag for the difficulty adjustment. |
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It worked well and fast for me, thanks!
I am starting to use a gox as a verb....
I goxed my coins last night! ( I turned them into USD )
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I don't know the answer to this but here is one way to look at it. Imagine if BitCoin only replaced Paypal (Preypal) and nothing else. Now figure out about how many dollars are in the Preypal system. Let say that is 600 million (I do not know the real number), and there are 6 million bitcoins out there......
using that logic a BitCoin could be worth $100 if it replaced Preypal and Preypal only. One BitCent to a Preypal dollar. This does not set a maximum of course but it gives you an idea.
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I launched BitBrew.net, let's see, a grand total of 4 days ago and I've had three sales so far. I'd say that's pretty good considering I only have one product at the moment and I've spent less than 2 BTC on advertising in addition to promoting the site a bit here on these forums. I've also had several people express interest in whole beans, which I'll be adding soon (I'd offer them for sale now, but would rather wait until I actually have them in my hands before accepting payment), so I'm confident sales will continue to grow as my selection does.
I also just started my online store recently, 6 days ago. So far about 3 sales a day. So people are spending coins for product even with all of these price changes. I did go with the priced in USD model, but then at the end of the process convert to BTC at the mtgox.com rate. This makes it so I do not have to change the prices at all which makes life easier. I started selling bumper stickers (manually before the store) at 1btc now they are down to around .33 btc shipped. Experiencing deflation in person is weird, I grew up with inflation most of my life. |
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I have them shipped for less then they do ($12.00 plus 99 cents shipping), and I take bitcoins and I ship em within two days. http://cryptoanarchy.us/store |
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I presume doing it with 3 is more safer? I think so but I am not really sure. I have seen it done both ways. I am going to add these to my online store at http://cryptoanarchy.us/ tonight and they will be priced at $1 plus 99 cents shipping converted to BTC at the end of checkout. So they will now be around .33 BTC! |
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I see that people are not using bitcoin as money anymone. Nobody really buys things with them, most of trades are MtGox trades. Sad, because bitcoin, as well as gold, is intended to be money, not an object for speculation. Because almost everyone has some bitcoins used as a mean to store value.
Anyway, look at this example. A chicken grower sells a chicken for $5. A bitcoin is also equal to $5. This means a chicken = 1 bitcoin. But since USD/BTC ratio is less constant than chicken/USD ratio, nobody will use that coin to buy chicken. They'll sell the coin for dollars, hoping for more than $5. If they'll get $6 for the coin, they can buy the chicken with 5 and also a coke for 1. So what do we do about that?
I bet to differ. I have been selling stuff for BitCoin more and more each day. Now sales are starting to be more then mining! I did need to make my store auto-price for changes in BitCoin value but now my life is much easier. |
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Pretty weird I don't have dust-related problems.. was expecting this. Maybe the outside air is actually less dusty than inside air.
If you live near a busy road or in the city and have anything diesel passing by, outside will be much worse and the fumes will make anything else stick. If you live in the country the air may be better outside then in your house. Unfortunately the humidity after a rain make leaving a machine outside long term a bad idea. |
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good advice, those fans move a lot of air!
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I would use a graphic similar to this: http://www.howtovanish.com/images/Bitcoin.jpgBITBOY has made wonderfull vector graphic files available that could be blown up (with Adobe Illustrator) to large size with no loss in quality. This gives bitcoin a little more consistent branding and looks really good. |
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Just got mine. I felt like the price was right if it was a quality T, and not a Hanes 3-pack T. I just wanted to confirm that the shirt is nice and think. Just wanted to mention that if anyone else is on the fence.
(And if the manufacturer is doing market research, you would be able to sell at least one polo with an embroidered BTC logo. My OpenBSD polo is starting to get worn out, and I need a geeky replacement for when I'm forced to go business casual.)
I have a bitcoin polo. http://cryptoanarchy.us/ Please note the store starts out priced in US dollars then it gets converted to BTC at the mtgox.com rate. So the polo is currently less then 7 BTC shipped in the USA. (6.14 BTC when I did it) |
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My store is auto priced based on $1.50 for sticker, 99 cents shipping, so it is now less then .5 btc for a sticker shipped!
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At these prices, I don't feel sorry for a landlord!  I live nicely for half the price in western Europe! Yep, real estate is way overpriced in the Toronto (aka GTA) area and as a result I'd say so are rents. If that landlord has the property already paid off (ie no mortgage) then that $800 is pure profit (minus expenses and other misc items) so our psknives's electricity usage may go unnoticed or maybe the landlord won't care all that much - at least not until the power bill approached the the multiple hundred dollar mark lol Property tax is a huge expense in some areas. I bet that is why landlords costs (and therefore rents) are so high. |
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Which is why difficulty should have been tied to something aside from hash speed.
Someone like Mystery Miner only has to activate their array for a short time each difficulty cycle and the rest of the network will not have enough time to lower the difficulty in correct proportion.
Essentially an attack.
I would not consider that an attack. I would consider it competition. |
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Thanks. Very usefull info there!
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Wow. Someone turned on some miners right after the difficulty change. Uggg.
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