Important News:
As from May 31st 2014 we will cease with this signature campaign.
The reasons are as follows:
1) It simply isn't viable to continue with these high prices. The ROI is just not there.
2) It doesn't help, when the price of the btc is on the rise.
The Ritz Grand Casino does very well without the need of a signature program. In fact, the return visitors we get are incredible. So we are here to stay.
Everyone will still be paid up until May 31st. You must remain with the program until payout day, (1st june) to be paid. We will still check on the posts
We would like to thank every one who has participated in our signature campaign.
Good luck to you all and thanks for your support.
Ritz Grand Casino
---------------------------------------------------------------------------------------
Also sad to see the campaign come to an end. Nevertheless, I *do* have one question, can you clarify that you are still paying for all posts up until payday? That is, posts between now and 1 June still count. Can you confirm this? |
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Well updown you have another month and a half then apparently stunna is going up big on rates. I am appreciative to you for making all the campaigns raise rates to keep up!
Hell yes. I appreciate it too. As long as you guys are in a bid war for advertizers, we all win! And the bitcoin economy is all the stronger (I'm only mildly convinced about this last part). |
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SOmeone was posting in another thread about putting one in Boston. I'd really be interested in that! I'd def use it. Anyone have any data about the usage stats for ATMs already installed?
Just insert your bills into the sewer grate, you'll get the same thing back from a bitcoin ATM. Weird to troll bitcoin in a bitcoin forum. Is there something specific about atms that you don't like or are you just trying to insult bitcoin users? FWIW, I was interested in the bitcoin atm idea until i heard that the us implemented ones require photo ids and fingerprints. Does the canadian one have the same strict measures to id the user? Are you serious? Where did you get that from? Do you have a source? Well sure, this was discussed in re the bitcoin atm that was installed in Austin. Here's a blogger talking about it: http://grantammons.me/bitcoin/my-experience-using-a-bitcoin-atm/I have no idea if other machines work the same way. That's sorta what I'd like to know more about.  |
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Everything in nature is fractal, from leaves on a tree to the clouds in the sky. The Bitcoin market is part of nature, it is controlled by a mass of human beings and is organic in nature. It is no surprise it has fractal qualities. However these fractals probably aren't very good for accurate predictions. However, there have been 3 big pump and dumps for Bitcoin, these are also likely fractal in nature, and are a good prediction there will be more large pump and dumps in the future http://www.usacryptocoins.com/thecryptocurrencytimes/uncategorized/the-past-and-future-of-bitcoins-price/That cant be easily generalised. In general free market conditions, a zero sum game is always tough to make money in, fractals or no. But when fractals systems are caused by greater fundamental events, the chart begins to tell a story. If we dont know future events, the second best thing we can know is when the events that have come and gone had their net effect on the market. an unexpected fundamental event will always cause a wave, the wave will unfold in fractals, and sometimes we can see when the fractal system has terminated. 339 low was a prime example. But I thought that market values were exactly *not* a zero-sum game. Or maybe I'm misunderstanding you somewhere. Can you elaborate? there is a finite sum of USD and BTC at any given point, and although that amount may change over time, wealth is not created by printing USD or mining bitcoin. every time someone loses money on the market, somebody makes an equal amount of money on the market, and total USD and BTC in circulation remain the same. I understand, the amount of bitcoins under discussion is a zero-sum game. Ie, i give a bitcoin away means I just lost one, there's no creating bitcoins after the21millionth one is mined. However, the value of a bitcoin isn't directly tied to it's unit. The value is set by whatever someone is willing to trade for it. That seems to me to be the opposite of a zero sum game. Example: 1) I have 0btc, you have 1btc. for illustration, assume you can buy a pizza at our favorite pizzaria for 1btc 2) You send me 0.5btc. 3) I have 0.5btc, you have 0.5btc (ok, zero-sum with respect to the number of bitcoins, neither of us can afford 1 pizza) 4) ...time passes..."value" of a bitcoin doubles. (1 pizza now costs 0.5btc) 5) We now each have enough money to buy a pizza. Am I making sense or am I missing the point somewhere? no wealth is created by bitcoins rising in value. the appreciation of bitcoin would equally depreciate the value of USD. now a pizza would cost $10 + 0.001c in USD. the general poplulation of America would be paying for your pizza, although you would not notice the effect of 10bln dollars less to the economy. Your reply is timely but not very explanatory. Can you elaborate? Your reply is more like an assertion than an explanation. |
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They mean accepting as in you can buy things on eBay using Bitcoin. They aren't "accepting," they are just allowing people to auction them. Two very different things.
Users here tend to over-hype the positive news. Ebay is no where close to accepting Bitcoins. But the fact that they are no longer banning users for auctioning Bitcoin-related stuff means that they are moving in the right direction. Wow, still I think this is quite good news. Even if ebay themselves aren't accepting, it's great to know that they're allowing auctions that use them. To be honest, when I can use my bitcoins on amazon, I'll probably start spending them a lot more. I've basically just been holding what I have (and occasionally gambling). Amazon is a marketplace I definitely use regularly. |
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One thing that most people don't seem to understand is that after 21 million Bitcoins have been produced, the TOTAL number of Bitcoins in circulation will decrease in a LINEAR fashion each year.
This is very unlikely. Here's why: with the number of Bitcoins DECLINING (after 21 million) and the demand RISING, classical economics tells us that the price will SURGE.
This means, to hold the same value of bitcoins, individuals will be holding less and less actual bitcoins. Therefore, when they lose their private key, less bitcoins will be lost. As such, the TOTAL number of Bitcoins in circulation will decrease in an ever shrinking fashion each year. I think you're quite right (and a very astute observation!) that the lossage probably won't be linear. Nonetheless, even if we assume that the lossage isn't linear and isn't perfectly asymptotic towards zero, then many bitcoins will be lost. In enough years, supply could become so limited as to cripple the usage of btc. I suppose this problem is so far off that we needn't worry about it too much now, though. I can also image a kind of solution where some percentage of bitcoins is assumed to be lost each year and mining starts creating new coins again. The idea would not be to make the currency an inflationary one, just to stabilize it a bit if it ever overall lossage ever actually became a problem. You know, another thing that might happen is that computing power goes through the roof and in 10 years all new bitcoins and all old bitcoins that anyone actually cares about need to be regenerated with a larger keypair. Then, you might have a bitcoin "salvage" business where all of those old coins with only 256 size keys can be 'dug up' by someone interested in finding them. |
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I really think that CGB needs to get some trade volume going on the exchanges it's already listed on rather than focusing on getting into new exchages. IMHO, when we're in a bunch of exchanges and the volume is next to 0 on all of them, that makes us look pretty weak. On the other hand, if you could drive the trade volume to a limited number of exchanges, it might help build some enthusiasm. |
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Everything in nature is fractal, from leaves on a tree to the clouds in the sky. The Bitcoin market is part of nature, it is controlled by a mass of human beings and is organic in nature. It is no surprise it has fractal qualities. However these fractals probably aren't very good for accurate predictions. However, there have been 3 big pump and dumps for Bitcoin, these are also likely fractal in nature, and are a good prediction there will be more large pump and dumps in the future http://www.usacryptocoins.com/thecryptocurrencytimes/uncategorized/the-past-and-future-of-bitcoins-price/That cant be easily generalised. In general free market conditions, a zero sum game is always tough to make money in, fractals or no. But when fractals systems are caused by greater fundamental events, the chart begins to tell a story. If we dont know future events, the second best thing we can know is when the events that have come and gone had their net effect on the market. an unexpected fundamental event will always cause a wave, the wave will unfold in fractals, and sometimes we can see when the fractal system has terminated. 339 low was a prime example. But I thought that market values were exactly *not* a zero-sum game. Or maybe I'm misunderstanding you somewhere. Can you elaborate? there is a finite sum of USD and BTC at any given point, and although that amount may change over time, wealth is not created by printing USD or mining bitcoin. every time someone loses money on the market, somebody makes an equal amount of money on the market, and total USD and BTC in circulation remain the same. I understand, the amount of bitcoins under discussion is a zero-sum game. Ie, i give a bitcoin away means I just lost one, there's no creating bitcoins after the21millionth one is mined. However, the value of a bitcoin isn't directly tied to it's unit. The value is set by whatever someone is willing to trade for it. That seems to me to be the opposite of a zero sum game. Example: 1) I have 0btc, you have 1btc. for illustration, assume you can buy a pizza at our favorite pizzaria for 1btc 2) You send me 0.5btc. 3) I have 0.5btc, you have 0.5btc (ok, zero-sum with respect to the number of bitcoins, neither of us can afford 1 pizza) 4) ...time passes..."value" of a bitcoin doubles. (1 pizza now costs 0.5btc) 5) We now each have enough money to buy a pizza. Am I making sense or am I missing the point somewhere? |
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Is there a possibility that a minimum block size could be implemented? Would this help the issue?
Death and Taxes, if I understand the discussion correctly, implementing minimum block size seems like it would be the solution. The issue would be that if you hit a period in which there were very few transactions waiting to be confirmed then perhaps they would have to wait till more transactions arrived in order to meet the minimum. However, that shouldn't ever be a problem given the graphs and predictions you're showing us about the volume of transactions. Also, perhaps this transaction minimum would be implemented as a percentage of transactions waiting to be confirmed. This would obviously mess with difficulty, but that can be adjusted, right? Can we have a little discussion about the possibility of a min_block_size parameter? |
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Thanks for taking over the job. This is a useful thread when it stays up to date. Thanks to Rannasha for the old one and preciate you for staring this one up.
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SOmeone was posting in another thread about putting one in Boston. I'd really be interested in that! I'd def use it. Anyone have any data about the usage stats for ATMs already installed?
Just insert your bills into the sewer grate, you'll get the same thing back from a bitcoin ATM. Weird to troll bitcoin in a bitcoin forum. Is there something specific about atms that you don't like or are you just trying to insult bitcoin users? FWIW, I was interested in the bitcoin atm idea until i heard that the us implemented ones require photo ids and fingerprints. Does the canadian one have the same strict measures to id the user? |
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Yeah, all this new info has really held me back from getting into altcoin day trading. I think it would be fun and educational but I sorta feel like I'd end up playing the dupe.
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Right, I kinda thought the pizza for bitcoins thing was like several years ago. Normally bumping really old threads isn't too nice but I think this one has a little value as a 'classic'.
Cheers!
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There is a (new?) trojan wallet stealer out in the wild ATM. Plenty of script kiddies and scammers are going to be trying to get you to download and install it, what's more they'll be putting posts to do so (using lies obviously). Don't install anything linked to on this forum, unless it's been found by someone with a good reputation to be legit. Assume everything is an attempt to steal your wallet. You should also encrypt your wallet when not in use. http://www.freeotfe.org/Here is a portable apps version http://www.freeotfe.org/downloads/FreeOTFEExplorer_3_51.paf.exeYou have been warned. Nefario Is this thread an exercise in recognition of irony? You warn us not to install anything linked to on this forum and then in the next line you link to a windows executable? I don't run windoze so i couldn't install your trojan even if i wanted to but anway, thanks for the laughs. |
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I guess it's supposed to stay "stable" These seems like reasonably charactaristics for a money system. Is there an alternative definition/set of criteria that I should know about? |
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I think that Coinbase + Bitpay provide certain services to certain types of folks who can use bitcoins in a certain way. It's hard to understand how services to a subset of bitcoin users is equivalent to setting up a governmental fiat.
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Is there a possibility that a minimum block size could be implemented? Would this help the issue?
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How can you have a software program that is an organization that executes change in the real world?
Bitcoin foundation has lobbyists that physically walk places and speak things with actual mouths.
Write letters, etc.
Seems to me AI would be needed for this. And robots.
Agree. the whole thing sounds foolish. The foundation also pays for Gavin Andresen's full time commitment to Bitcoin, so it doesn't make sense from that point of view either. I guess I thought that the "bounty" here was sort of sarcastic. Does the OP really want a software program to replace the function of the bitcoin foundation or was that just a "clever" way to present the complaints about the foundation? I thought the latter. |
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I think if Newegg would take Bitcoin, that would be MASSIVE. There are tons of miners here that buy from Newegg on a regular basis, and they are the perfect company for something like this.
I agree, someone who's doing hardware sales or in general targeting techy customers is likely to see the benefit of accepting bitcoins before a general merchant like ebay. |
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I think my dream gift would be a new telephone. My telephone is 5years old and the hardware is starting to fade. The power button died recently (thank god cyanogenmod implemented 'double tap action bar to sleep'). I think the physical bitcoin would have been my dream gift but I don't want to be a copy cat. Let us know who the winner is! |
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