I wonder if it is a better to pay a percentage of all redemption requests in the queue rather than go in order. The way it is now it means some people will get all their money back and others will get totally screwed. People don't know whether they are going to get 100% or 0% which creates a panic causing people to sell at a huge loss. For example, if everyone in the queue knew they would currently get, say at least 90% then the market could stabilize.


I think also that dividends should be paid in the meantime. The money is still going to the investors. Lack of dividends is just going to cause everyone to dump shares! That said, ukyo has been 2 days late several times before. I am not jumping to the conclusion that dividends have stopped unless I hear from him.

Why would TradeFortress say that? Shares are being redeemed, just at a very slow rate. Just look at this thread, and the announcements from ukyo regarding that.

Ukyo was not expecting to have to liquidate perhaps 1000 coins or more in such a short amount of time. I imagine it will take months to work his way through the queue of redemption requests.
And dividends have been late many times before but they always catch up. There is no evidence that he has defaulted.

And is TradeFortress implying that BTCInvest holds ukyo.loan shares and ukyo.loan also holds BTCInvest? That seems a little funny.

The origin of the rule is from a hundred years ago where "fake" security and ponzis schemes where everywhere. It was there to protect your great-great-grandmother from the door-to-door stock salesmen peddling junk bonds.

But today, It's there to limit the real wealth to the 1% and corporations. There is a reason why the vast majority of US citizens don't own a single security outside of their heavily restricted retirement funds.

I thought of the gold idea a couple of months ago. I even bought a couple of ounces of gold on coinabul to see how easy it would be.

There are a couple of problems with it though:

- Websites like coinabul charge a fairly large markup above gold spot price
- Unless you know where to sell, you could end up selling for a lot less than spot. Go for a place that charges a flat fee, something like $30 per ounce.
- There is paperwork you will need to fill out when you sell. It's mostly so they can make sure you pay collectable gains on the gold you sell if there is any. You probably won't owe taxes since you are selling as soon as you buy but it does leave a paper trail for the IRS to follow.
- If you do owe gains, most people assume you can pay long term capital gains if you held onto the gold for more than a year. This is NOT TRUE. You ALWAYS pay short term capital gains and your state tax might be much higher too! Gold is a horrible investment for this reason. You can owe up to 40% in taxes on gains on it depending on what state you live in.
- It is illegal to evade taxes and if you get caught you face some serious penalties.
- It is arguably immoral to evade taxes.
- Finally, if it is actually a large enough sum of money, the IRS will notice and track you down everntually. Maybe you should buy a car wash and launder the money.

I decided that the best thing to do is simply hold on the the coins for more than a year and pay the relatively low capital gains tax. You can point to the records on a exchange as to when you actually bought the coins. Mining is a bit more tricky, especially since you probably actually owe income tax on coins mined. I'm sure there is a lot of fudging as to how people report which coins they bought when and when they sold since it is impossible to know actually how many coins a person has.

Btw, if you are a US citizen, you can't simply move out of the country to avoid paying taxes. As long as you are a US citizen, you need to file a tax return. You won't owe the same federal taxes (I'm not sure how it changes exactly) but you can't avoid taxes completely that way.

Anyways, better than buying gold is simply to sell your coins on localbitcoins. You'd be surprised on how easy it is. Seriously, you can sell tens of thousands of dollars worth a month there without even trying.

The KNC Jupiter WAS a wide purchase (so far) becuase most of us who have bought it have already been mining with it a few weeks. The earliest customers have already made their money back!

So yeah, if you are just getting around to buying your ASIC now, duh! of course you are too late and missed out.

I made over 300 coins from ASICMiner (sold back in late July/early August though).

But I've lost about 40 coins on Labcoin so far, even though they are paying an amazing dividend (relative to their share price right now). It's roughly 0.5% a day!

Also own 40,000 shares of Neo Bee which is pretty much at what I bought it at. It's a long term investment though (months if not years). I expect great things from them.

Finally I own 1/8th the outstanding shares of ukyo.loan. Regular dividend is great but it is slow to redeem the shares to the issuer presently.

Oh, and XBond, I own maybe 80,000 shares and I've made maybe 40 coins at least from them.

Here is another feature I'd like to see:

How about make it truly anonymous by adding zero knowledge proofs (like the Zero coin proposed addition to bitcoin)

Why? What's the point. It just needlesses complicates the currency and becomes a potential point of weakness.

No, I bet he gave up the passwords as part of a plea agreement. They definitely did not bother to go crack it themselves. He was intimidated into giving it up.

Are you kidding me??

Bitcoin has been as low as 60 and as high as 210 (using coinbase for data) in the past month.

Just yesterday it was above 200, now it's in the low 70's.

Bitcoin is as volatile as ever and it is EXTREMELY risk to buy right now. You could buy at $175 right now and tomorrow it is under 100.

Stop with the FUD. You ran into one glitch and it was resolved. Please just delete this thread. BTCT had even more bugs when it was up.

Will we be able to still use the "transfer" function to transfer shares to people with verified accounts after buy and sell are disabled on our accounts on Nov 1?

If they are based in the UK, why is their English so bad!

I'm running 0.96 and I've can't get much above 500. According to eligius I am really only getting 465 or so (don't know why the big discrepancy).

Any suggestions on how to improve my hash rate? Should I try different firmware?

I believe those terms where added in mid-August AFTER many of the batch 1 orders were made. Initially there was no Dec 31 clause in the agreement.

The reasons are very simple:

1) Bitcoins are an INCREDIBLY risky investment. They are extremely volatile. Just a few weeks ago when Silk Road was shut down they were down to $60. Now they are about $200. They are far too risky for traditional investors. They are completely unregulated and may even become illegal at some point.

2) The bitcoin market is way too small and way too illiquid. Their market cap is the same as a medium sized company. Large investors can't buy or sell too many bitcoins without moving the market too much. A couple thousand in profits here and there are meaningless to them. They need to be able to invest hundreds of thousands at least into bitcoin and that isn't possible right now. Neither the market, nor the exchanges can handle it.

Those two reasons alone keep the worlds richest people out of bitcoins. And it keeps most institutional investors out of bitcoins too.

This is what I want to know too. If my shares can not be redeemed by Oct 31, can I still receive dividends and withdraw the coins earned in the meantime?

And I know I won't be able to buy or sell, but will I be able to use the transfer feature to transfer the shares to another party (to someone with a verified account) if I wish to get rid of the shares that way? Or will that be disabled to?

This ETF, if approved, will be the thing that takes bitcoin to the next level.

It's amazing how many people here don't get that. They don't like the Winklevoss twins because they saw that movie and think they are money-grubbing assholes. But they Winklevoss twins are smart and they get it.

This ETF will take bitcoin's value from the hundreds to the thousands overnight. Possibly even tens of thousands.

For most of us, buying the real thing directly is better that buying shares in an ETF.

But this opens up bitcoin to everyone who isn't sophisticated enough or doesn't have the time to go through all the steps to open up an account on a exchange, wire money to a foreign country, and manage their own wallet.

This lets your grandmother invest in bitcoin.

My mother has been reading about bitcoin in the news and she has repeatedly asked how she can buy some. I basically just tell her that I will sell her some when I see her at Thanksgiving. Her friends have been e-mailing me too, asking if they should invest in bitcoin and how they can buy them.

This ETF would let them invest much more easily than it is now and even more importantly it would allow the trillions in retirement fund accounts to invest in bitcoin!

As someone said earlier, most American families do not have the liquid cash to go out and buy bitcoins. But many of them do have 401ks and IRAs which could invest in this ETF.

The price should also stabilize a bit as the size of the market grows a couple of orders of magnitude. Bitcoin will also be finally seen as legitimate to institutional investors and that should help it stabilize too.

This ETF is a wonderful thing for bitcoin.

+1

There is no alt coin that offers anything better that what bitcoin already offers.

Scrypt coins are  only interesting for people who want to mine without investing in an asic. So they are only interesting to miners wanting to make a quick buck. If they actually became popular, someone would make an asic for them and they'd be the same as bitcoin.