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"Therefore, Bitcoin is a currency or form of money, and investors wishing to invest in BTCST provided an investment of money."
(Asserted by AMOS L. MAZZANT UNITED STATES MAGISTRATE JUDGE in court opinion order establishing jurisdiction)
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Many of you have asked via PM when and how these pieces will be available, and your interest is very gratifying. I can tell you that it won't be long, but that the availability date is not yet announced but will be shortly as will the details of "first day of issue" special offers and other details. Stay tuned!  A Q&A thread has been started here: https://bitcointalk.org/index.php?topic=269535.msg2883593#msg2883593 |
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Dunno if this could lead to situation where in countries like Germany there would be large pools of rather inefficient, but cheap hardware which is only run when energy cost is low or zero...
Waiting for the "Heating my pool to tropical temperatures while feeding my pool hashes" rig. The miner/water-heater combination! |
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Is the amount in the account expected to change for some reason?
Why is it a gamble?
No it won't change. If you don't understand what's going on, please don't post here. My understanding is again accurate now that you have corrected your "gamble" comment. |
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Still adding to this line up of folks begging to have your seed bestowed upon them? Good show man!
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I just don't buy the proposition that Bitcoin will be more valuable in the future because it will be more valuable in the future therefore the price will be higher in the future therefore the value is higher now, without first asserting some cause for the future rise in value or some cause for the present value.
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Look at this statement: USD will have a relatively stable value in the future because it have a relatively stable value in the past and now therefore the price will be relatively stable in the future The value of money is decided by a consensus, and when people reached a consensus, it will just hold that value even the supply and demand changes. In USD's case, that consensus is reached through people's historical experience, so even the gold that originally backed USD have been removed, its value still kept relatively stable (In theory when the gold back it was removed, it should drop to zero) Not to zero, there is no theory that suggests unbacked currency are always worth zero (or bitcoin would be zero as well)... The dollar plunged by a third during the '70s, though. At about the time the gold backing for the dollar was removed, there was also the establishment of the EPA, and massive federal government appropriation of land and land use rights associated with that. This was a genius move by Nixon to co-opt his hippy opponents into giving him a new backing other than gold, by taking much land into the government treasury. December 2, 1970 The wilderness Act seized a bit over 9 million acres. (Now over 100 million, and growing). To end the effect of Gresham's law on the dollar vs gold, and to prevent a run on the dollar, stabilize the economy, and decrease unemployment and inflation rates, on August 15, 1971, Nixon issued Executive Order 11615, pursuant to the Economic Stabilization Act of 1970, which imposed a 90-day maximum wage and price ceiling, a 10% import surcharge and most importantly, "closed the gold window", ending convertibility between U.S. dollars and gold, leaving only "Full faith and credit" in its wake. In bitcoin's case, the consensus will be that this money will always rise in value because of its limited supply and unlimited demand. People won't reach such consensus if they don't know about supply and demand theory in economics, but I suppose that more and more people will gain such basic economy knowledge over time
So, the consensus about USD's value is reached by historical experience, while the consensus about bitcoin's value is reached by economics theory, they are both psychological phenomenon but that's what essentially drives people's behavior
They act similarly for those reasons. The difference being the "legal tender" issue. Taxes must be paid in dollars, and any debt may be discharged by payment in dollars (thus all debts public and private). You are free to specify other terms contractually, but in a legal court dispute, unless you can get "specific performance" the best you are going to get is dollars as a debt satisfaction, though the amount may be based on the value of something else (such as bitcoin). |
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Agreed, how is this instead?
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There are some ways to defend against this. Nothing is perfect. |
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Definitely a possibility. Stay tuned.
If you are going to make a 'bar' I would say - Go with real gold! Don't you guys feel like gold is more BTC and not LTC? If you're wanting something more valuable than silver - go with platinum and keep the color scheme. Platinum is nice Take the high ground |
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This is all about does Paypal believe that bitcoin will be huge or not. If they do, then they should become new Gox. This would be good.
Isn't there a better thread for this? PayPal would shift from "engine for Bitcoin scammers" to "big man on bitcoin campus" in the minds of many. That "good will" might be worth something. They would also benefit from the carry trade in a way that they don't with USD or other fiat. They were once deeply innovative, and sought to change the world in the way that Bitcoin is doing so (in the Elon Musk, Ken Howery days, both of whom like Bitcoin). http://www.mainstreet.com/article/money/investing/paypal-founder-invests-bitcoinPaypal, with its lobbying heft, may also be sweeping the market clear of the less compliant to make room for it to plop itself down in a clean space in the market. There is much about this that makes sense, but it assumes a combination of sagacity and shrewd cunning on the part of folks who are keeping their cards hidden. |
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There are meetups on first Wednesdays in: Sydney Munich Vancouver Pittsburgh Toronto Austin Paris Buenos Aires Cinncinnatti Las Vegas * Amsterdam * where I am at the moment but hope to be in Los Angeles by Wednesday. https://ohm2013.org/wiki/Bitcoin_Wednesday_Amsterdam_-_%26_Now_in_9_Different_CitiesLos Angeles, that hub of creativity, that fountainhead of joyous revelry in all that is bitcoinish ought claim its place on the list, yes? Or if not LA, than maybe at least the People's republic of Santa Monica can pinch hit.. |
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Hello. I am Ronald Boor. I am a Belgian student who have made a bank, BInvest, where you can buy shares of 0.1 BTC. After a month they will be buyed back. This will be your profit. I am not asking you to invest (investments are only possible the first day of each month) but looking what can be better. Thank you. Hi Ronald, Since you are looking for what can be better. Here are some things that are better: 1) Consider making something and selling it for Bitcoin. 2) Or offering a service and accepting payment for that service (more valuable service than choosing how to spend others bitcoins without telling them what you will buy, or have bought, ahead of time). 3) Study for classes. Well clearly BTC Investing is still in its infancy. With all the possible "stock" or "contracts" there isn't much of a prospectus unless its a post on these forums highlighting hashrates of the new mining hardware...etc. Once investments standardizes (similar to the exchange houses) then we will more influx of outside investors seeking returns from the BTC markets. (Such as myself now that difficulty went up again.) Perhaps BTC investing is in its infancy, (the Winklevosses may disagree), but even if it is. Investing is not in its infancy. A Belgian student should walk over to his friends in the B-School and at least take a look at a prospectus, an investment summary, or at least know the answers to the basic questions that will most likely be asked and put that minimal information out there. This is even more true if one is putting themselves in the position of being the expert investor for their customers. How is this going to generate any confidence that this fellow can evaluate a good investment? We should not have to guess so much. |
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Hello. I am Ronald Boor. I am a Belgian student who have made a bank, BInvest, where you can buy shares of 0.1 BTC. After a month they will be buyed back. This will be your profit. I am not asking you to invest (investments are only possible the first day of each month) but looking what can be better. Thank you. Hi Ronald, Since you are looking for what can be better. Here are some things that are better: 1) Consider making something and selling it for Bitcoin. 2) Or offering a service and accepting payment for that service (more valuable service than choosing how to spend others bitcoins without telling them what you will buy, or have bought, ahead of time). 3) Study for your classes. |
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PayPal has hinted
... of course bitcoin is the future its on a matter of time till everyone get with the program, expecting more "Rumors"  Granted, the question is whether the future is now. |
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re. paypal rumor:
a) You have to trust someone that breaks trust of company he works for and likely confidentiality obligations. And for what?
b) How is a company like PayPal going to "accept" business in bitcoin currently? Paypal has to consider the legal ramifications of doing this in every country in the world where it operates, and where the legality of bitcoin is not yet certain.
c) It would be much safer for PayPal to invest money in a company like BitPay to hedge it's bets going forward but to separate its current business from a speculative investment in a 'currency' of questionable legality.
d) Do people really believe random rumors posted on internet message boards? Use your head!
d) is the important one. If others believe it, the price may move, otherwise...  |
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If PP is even contemplating this, they and the people "in the know" would have been buying BTC since it began. It is not as though SEC would care to get involved over insider trading, as SEC doesn't govern BTC.
Any sign of that buying happening...?
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I have a farm, fecund with fertile soil, to receive your prolific seed. Make it rain, Canadian.
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