There is a slight possible chance that the scenario of a certain safe haven would be in Bitcoins. Not that every guru on wall street will put their entire portfolio into Bitcoin, but its likely that Bitcoin will get some sort of interest since its significantly different from a government backed currency model. One can only hope this would be a scenario.

What do you guys think? Will anyone with some deep pockets find their way here? Or is gold going to take all the credit for it again as safe haven?

As some may have heard Sudan broke up in two countries. Its now Republic of Sudan in the north, and South Sudan in the south. Both countries have since the split up each launched their respective currencies and are now facing a currency war on each other.

This is actually a pretty good thing for the BitCoin community as it can give us a pin point on how a country starting of a couple of months after the BitCoin mania is going to handle its newly adopted currency.

Needless to say, since this is Africa is most likely going to go to hell and there will be counter fitting, mass inflations and what not.

If someone knows the financial ministry in any of the countries, please feel free to suggest them a real currency adoption, such as BitCoin, instead of an already crippled currency based system.

EDIT: Here is article on BBC about it: http://www.bbc.co.uk/news/world-africa-14267746

EDIT 2: http://www.sudantribune.com/North-and-South-Sudan-two-new,39518
Its called South Sudanese Pound in the south, no indication of what the north will call it, but looking at their ingenious creativity its probably going to be north Sudan pound. 

I have a question that I hope the community can help me with. If I wanted to make a "treasure hunt" website, my obvious choice would naturally be to go with BitCoin as they fit the integration with the internet that no other currency can do.

But would I be able to "burry" BitCoin's on a website, where I could ask people to do X and Y before Z would appear thus giving access to a BitCoin? Would it even be possible to place a downloadable BitCoin on a website so that people can more or less download it and import it into their wallet?

Would be great fun and could potentially be made into a game online where prizes are BitCoin's.

How do you know they are regulated? Where is their license number? Because as far I know they are not regulated, but are ment to be regulated since it is as you say, a regulated business. Correct me if I Am wrong.

I would beg to differ on this one. Despite the fact that Zimbabwe dollars are running crazy inflation wise, then people could still trade them for the most basic needs in their life, food. (well maybe not a fixed amount of food, or good food, but still food).

If we cant convert BTC to food, BTC is just an alternative currency without any price comparison and will truly only be remembered as the "geeks" money. We need price comparison because we are decentralized and we need price comparison because I dont see my local diner or pizza place accepting BTC anytime soon.

That is not a solution, that is a slow slow slow way. Never will BitCoin catch the wider audience is trades cannot occur safe and fast. People in this modern world want convenience. If BitCoin is the future then it should apply all the missing features of the today's established financial sector.

Our problem is as much as BitCoin is not defined yet. Its not banned, nor is it accepted by the broader financial sector. All we have is a VERY convenient and transferable mean here.

We NEED a court case in a country that has something to say in the international market. That is one of the 5 UN permanent members. If anyone cares to open an exchange in France, UK, USA, Russia or China and register as exchange platform and take on the authorities once it grows to big, we have a definition. Until then we have Mtgox alike exchanges that will either fail due to insecure systems or pure scam.

That is where you are wrong. Since the currency is decentralized, a stable price comparison to the USD/EUR is necessary (whether you like that or not, these two currencies are paid as wages and puts food on people's tables).

Without a price comparison you can mine all you want, but why would anyone sell you a laptop, computer hardware, clothes or anything else, if they dont know themselves how much food they can buy for BitCoin or how much wages they can pay their staff.

We NEED an exchange. We NEED a value, and such thing is what we dont have after the Mtgox incident. Without a price, there is no trade. Without any trade BTC has no value.

My bad. I ment to say that it would be impossible to operate an exchange service without downtime, unless that respective exchange service was regulated, thus it would be left to do business as usual. If an exchange service pops up and is not regulated, we can only assume its going to crash. Either technically or regulatory.

Lets just for a moment pretend that someone succeeds making an exchange with the following attributes

- Safe
- Stable
- Secure
- Has no thoughts of stealing money or scamming its user

Lets pretend that the exchange runs just fine for months after months. It even exceeds the turnover and stability that MtGox ever had, and it does that successfully for a long time.

The portal allows for Dwolla, Liberty Reserve and Wire (Iban/SWIFT/BIC) transfers.

Under the rules of the current world that we live in, administrating any form of financial business requires approval and requires the so-called institution to register with the respective financial authority of the country it is residing in. In well known cases this can be FSA (UK), SEC (USA) or any equivalent financial authority.

Operating an exchange platform would mean that money has to move through it (third party funds) and stored on a medium of exchange (a bank) which would be operating in a country (thus being regulated by a financial authority).

Therefore I dont see how anyone successfully, long term, and stable (from a regulatory point of view) would be able to operate without downtime.

While it is true that funds are secured once they reach the BitCoin network, it is also true that the greatest challenge we face is the exchange medium which has to be both stable and reliable in many aspects. The technology part is only one of them. At the end of the day receiving third party funds is where the heavy battle lies.

And unless someone with a license steps into the BitCoin exchange game, and more or less jeopardize their license (due to the fact nobody knows how a government would intervene against a regulated exchange).

So what is our solution? Some rich individual humouring the BitCoin society by testing the waters, or a governmental body in a country stamping BitCoin as an allowed crypto currency and exchange medium (the latter being unreasonable to think would happen).

I dont see any of the two happening, and thus I see a bit problem with BitCoin. Without a stabile price, or price fluctuation it will just be a shadow currency, where exchanging money in and out from will be harder than just purchasing the equivalent in diamonds and getting on a plane or whatever is required to move money anonymously.

How can people be so blind and dumb and believe that something popping out of the blue, offering to facilitate a service will actually work. These Tradehill people may have good intentions, but who can handle this type of traffic such an exchange is receiving. And who can handle having all the geeks on the internet attacking them all the time.

I am sorry, but unless a big corporation or a bank steps in with some serious money backing it up this is a just mtgox.com all over. Errors are already popping up and the software is untested and repairing it on the fly just doesnt work!!! Its about money people, MONEY!

Italkcash BitCoin forum: http://www.italkcash.com/forum/bitcoin/

Which is why is said IF!

I did not say when, I just asked how. How because if there is no real easy option for it, then we will never get BTC up and running in a high gear. At the moment I am NOT planning to spend 250.000$ to put into BTC, but I was wondering how it would be possible for such a large amount to be exchanged since its a mayor factor in respect to the BTC success.

Once its safely stored in BTC there is no problem from my point of view. Its going to be the currency of the future anyway, its just a matter of time before enough merchants start offering BTC payments and it will be used for the majority of internet purchases.

But sure cashing out is also convenient to do, but again, its all about time I am sure.

If I want to move 250.000$ how can I get the equivalent in BTC for that. It seems that MtGox doesnt allow for more than 1000$ a day. So how on earth can someone ever move large amount of money to BTC?

This is a very good idea! I have been looking for programs like this one. If one was supposed to make it, then I would definitely use it.

How can we see the entire value of all the BitCoins? (if we assume that the price of MtGox is the price). I want to know in order to make a new article on www.italkcash.com about the BitCoin mania and I want to put a LOT of facts down to stop some of the confusion among people online.

Both me and tiner messed up, and all this happened. I guess this has to be delt with between me and tiner now. Thank you all for helping collecting IP's and identifying my super bad memory in the h___ = hondura so that we could identify with him pork_

tiner, please contact me on IRC and we can talk about what we should do about all the money between us.

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