You can stop reading once you get to the anatomy of a squid picture. But therein lies the brains of ... (do I really need to spell it out?) |
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How the hell did I do the math wrong?
- snip -
Not a diss, Danny, but please follow-up if again I'm truly in error, bud.
You are correct that it needs to increase by a flat amount of $2.994 per day, and if you had said that I wouldn't have corrected you. You are also correct that it needs to increase by a flat amount of $8.982 every 3 days, and if you had said that I wouldn't have corrected you. However, what you said was that it needed "a 1% rise on average every three days", and that's where you made the mistake. Certainly, $8.982 is approximately 1% (pretty close to 0.92%) of the CURRENT $976, but it is less than half a percent of $1952 which you'll be calculating 1% of about a week before we reach $2000. If the exchange rate rose by 1% ( $9.76) in the next 3 days then the new rate would be $985.76. A 1% increase on that over the next 3 days would be an increase of $9.8576 (bringing the new rate 6 days from now to $995.6176). Another 1% increase on that over the next 3 days would be an increase of nearly $9.9562 (bringing the new rate 9 days from now to more then $1000). Now (9 days from now) 1% is no longer $9.76, it's more than $10. That increase keeps getting bigger and bigger since the amount that you are taking 1% of is getting bigger. By the end of 335 days, the rate has grown to nearly $3000. With a 1% increase every 3 days you'd get to $2000 in about 217 days. After that, your 1% increase will be more than $20 every 3 days. If you just go with a flat amount of $8.982 every 3 days, then the percent increase gets smaller as the exchange rate increases (since the numerator of your division isn't changing, but the denominator is growing). I won't let you trick me into becoming part of your Monty Python skit, but thanks for the coconuts nonetheless.  |
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I heard through the grapevine that he has been busy IRL, and the last time I heard from him some time later he told me the same.
He has not been active in a long time now.
During being busy on here for years, how the hell did he find time to busy himself with real life stuff?  |
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Yeah I am the plaintiff. Nothing special to my story, it's the same as hundreds of other BFL customers (they never refunded me the money for a cancelled order.) So I'm suing them.
Full disclosure: I PM'ed mrb about this thread, hence his reply. That said, it begs the question - how the fuck does this lawsuit not violate Sonny Vleisides' extended probation passed along by an irate Judge stating in no uncertain terms that if Sonny fucks up, he's spending time behind bars? Yet, Sonny remains free, still enjoying the good life thanks to unknown amounts of money secretly amassed during BFL's existence. Not to mention the bogus 1099 sent to my scammy ass under the guise of some unknown work I supposed performed for BFL when in reality the money in question was sent to me by BFL's COO, Josh Zerlan, unrelated to BFL. Now, if Sonny wants to declare that he satisfied Josh's gambling debt through BFL, he's more than welcome to do so if he desires to enjoy even more time at some federal Hilton which includes three free meals a day and neat-o garb matching others also enjoying their stays. Morning wake-up calls are also included in said Hilton vacation package. |
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For bitcoins to reach $2,000 per, that equates to a 1% rise on average every three days. Sustainable?
I assume you're rounding up to the nearest full percent? It's actually about 0.65% every 3 days. 1% would get you closer to $3000. $976 * (1 + 0.01) (335/3) = $2964.85 $976 * (1 + 0.00645) (335/3) = $2000.99 Another way to look at it is approximately 0.215% per day: $976 * (1 + 0.00215) 335 = $2004.08 How the hell did I do the math wrong? Since I quote a $2,000 price point by the end of the year (-31 days), my equation became 1,000/334 = 2.994. Since you had me doubting my Leroy Fodor math skills, I resorted to check my by-hand calculations via https://percentagecalculator.net/ Assuming I can still times numbers more betterer then my riting skills or doing percentage thingies, 0.2994 X 3 = 0.8982, of which I did round up to 1%. Not a diss, Danny, but please follow-up if again I'm truly in error, bud. Bruno |
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Another foreign article on the same subject, this time with a twist: http://criptonoticias.com/sucesos/suertudo-gana-13-millones-dolares-vendiendo-casa-bitcoins/#axzz4XOewpfeXA man in California recently won more than a million extra dollars selling a property through bitcoins, most surprising is that it did so without any intention, only thanks to price volatility of this currency.
Sonny Singh , Head of Commerce Bitpay , in an interview to Bloomberg , told the amazing story of this man as an anecdote of the current operation of Bitcoin .
A real estate agency contacted them because of the doubts they had about selling a property through this criptomoneda, since they did not really know what it was. After an explanation of the process and operation , they decided to proceed with the sale of the house for about 4 million.
At the start of the sale transactions Bitcoin was at $ 750, explained Singh, but at the end of an operation of that caliber was already at $ 1000. The man earned, only in transactions, 25% more than he had stipulated. That is to say, the end drew 1.3 million.
Singh also says that with the extra money earned the seller decided to buy a Lamborghini in the city of Newport Beach California, at a dealership that also accepted bitcoins as a form of payment.
Stories like this have happened repeatedly, people getting on an old computer a place full of bitcoins missing purse and millionaires overnight become morning, or gambling that give large amounts of criptomonedas that scale price within Minutes. These stories make no doubt use Bitcoin even more attractive and also lead to new consumers to bet on luck .
However, this is not the only attraction of the cryptones. Many institutions have seen in them a perfect solution for interbank payments, between business or international, while in others P2P interaction, decentralization, privacy or speed are more attractive. Not only was the house moved from Hermosa Beach to Newport Beach, both in California (else more permits would've been needed if crossing a border - NV or OR or MX over the wall), but clearly is was the seller who profited, allowing him to purchase the Lamborghini. BTW, the real estate developer has been demoted to merely an agent. I'd say this story has Carl Pattersfield's name written all over it. Google his name is you're not up to speed. The dude's amazing! |
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And the STORY gains traction around the globe (unless you're a flat-Earther): http://www.tamindir.com/bitcoin-ile-ev-aldi-13-milyon-dolar-kar-etti_h-19347/Virtual currency Bitcoin continues to come with amazing stories about. As a reminder for those who do not, Bitcoin currency is famous for its instant fluctuations and generally untrustworthy became notorious as an investment tool. These fluctuations are not so small, but they appear as serious fluctuations. Not surprisingly, as many Bitcoin victims so far and very interesting Bitcoin story appeared and were often dramatic story. However, a man in California shot Bitcoin with this momentary fluctuation in the face of the battle. Bitcoin complete in seconds with the guy who bought the home $ 1.3 million profit earned.
In this positive Bitcoin story by Sonny Singh, who is responsible for Bitpay's business activities, a man in California sued a house for $ 4 million. The man who wants to sell the house wants to pay this money with Bitcoin when he notices the seller's "Bitcoin is valid" statement. Bitcoin will do it again during the transfer of the money while everything is going on normal course so far. At the end of the payment process to begin again with $ 750 worth of Bitcoin payment in 1000 dollars with a sudden surge higher. Thus, although the home buyer to pay , taking home 25 percent cheaper than put the full $ 1.3 million in his pocket. And the top story does not end here either. $ 1.3 million to make empty as the winner of a number of guys that go in between a difference with a self- bought Lamborghini , the subject still Bitcoin.
It is not known whether Bitcoin's unreliable perception may change with the story of a man who owns a $ 4 million single house and a Lamborghini owner, but let's also note that Bitcoin has made a remarkable progress in the last year. Because Bitcoin most preferred investment vehicle of 2016 was. Unless lost in translation, this version has the seller willing to accept bitcoins as payment, not the real estate developer-cum-broker. I do see that since Bitcoin was a preferred investment vehicle in 2016, purchasing a Lamborghini at the start of 2017 was an appropriate way to celebrate. |
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Name: BadBear
Custom Title: v2.0
Posts: 4560
Activity: 1652
Position: Administrator
Date Registered: September 14, 2011, 03:39:51 AM
Last Active: November 25, 2016, 07:18:12 AM Is he still around under some other user account? Did he get shot by a bear hunter? Does his family know he's missing? Is he hibernating? Am I a dumb-ass? <watching thread so that I don't miss replies> |
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I doubt very much that we will see bitcoin at $10,000 this year and prob not within the next 3. i do think it will be at $2000 by the end of Jan 2018 tho. I think $10000 will be around the next halving.  The possibility of a price range around $2000 at the end of 2017 is a real possibility but the said rate of $10000 is a very big dream that wont be fulfilled any time soon. Bitcoin has to first settle the fundamental issues it has with the transaction delays it is having and if the core team could settle the issues the better and then you could see some record prices. For bitcoins to reach $2,000 per, that equates to a 1% rise on average every three days. Sustainable? |
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That equates to 9,000/365 = $24.66 per day. Luckily, the blockchain is now able to handle all them transactions. It is able to ain't it? Surely, them behind-close-doors meetings were producing such solutions, attendees only taking breaks to advance a rumor or two as fodder for respective trade rags, eh?
The blockchain is able to handle those transaction but the traders and the community is not ready to see an increase of 9k within one year, don't know but it's just too much and never happened this before. My opinion is that for this decade (until 2020) the bitcoin price can not be at xx,xxx but If that happens who wouldn't be happy? -only those who haven't invested before. My bad! I miscalculated, falsely assuming that a tenfold increase in the exchange rate equates to a tenfold increase in the amount of blockchain transactions. Thanks for the proof that such isn't the case. |
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Sorry I don't have time to talk to you any more, people are sending Bitcoin to me to buy solar cells so that they can earn inflation beating returns whilst electrifying Africa. It keeps me busy. It has been emotional.
no problem if only your project wasnt just converting bitcoin instantly to fiat. i would have thrown a few in your direction.. but my spidey sense was tingling too much. lets hope next year you make a subsidiary where the african community get bitcoin for doing some part of your projects to get bitcoin circulating in africa... then my interest would peak without the spidey senses tingling. and start to see something really inspiring Well in all our projects, we pay out in Bitcoin to people that pay in ZAR, so we are kind of a hybrid Bitcoin Exchange. Some 8 year olds at the school used their pocket money to invest in their own schools solar plant and they are now earning bitcoin income for the next 20 years. They will grow up with and using Bitcoin. Maybe that is more in the direction you envisaged. Or Maybe not. Good night. No bitcoins are held by The Sun Exchange, they are immediatly sold on digital currency exchanges and the fiat is used to buy physical solar cells. I now get it! The banana company doesn't keep any bananas in its coffer, but accepts coconuts to pay out bananas (not kept in its coffer) to each and every banana company investor. How close and I? <forgive me if tires and strawberries would've been better examples> |
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only 8kw an hour. (based on 12 hours light) [/quote] Yes, but the newly built tires are spinning, connected to a generator creating even more power. |
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No bitcoins are held by The Sun Exchange, they are immediatly sold on digital currency exchanges and the fiat is used to buy physical solar cells.
so this was my initial point from the start. its not a bitcoin project. its just a fiat kickstarter where is the proposal of expanding bitcoins circulation in africa. your initial proposal was wrote that its not just another fiat project. but a project to grow bitcoins utility in africa and get people using bitcoin more. i was envisioning that you used the solar panels for mining. i was envisioning that you paid the labourers installing the solar panels in bitcoin. i was envisioning that the solar panels done something bitcoin related. i then envisioned that someone investing 1btc would eventually get back 2btc after 20 year lease. but none of those are what you are doing. you have yet to show how its a real bitcoin enabling proposal and not just a 'we accept bitcoin' payment method something just didnt seem right. i tried to keep my sceptical side away. and get you to re-evaluate your business plan as it just didnt seem right. then when you kept replying. more things started to fall apart. where even now your limiting how involved you are in bitcoin by saying as soon as its handed to you its converted to fiat. its just not sitting right. either you over emphasised bitcoins involvement instead of just saying "we accept bitcoin" or something is not right about the whole proposal the reason your topic struck my attention was for the same reasons as the 'victorycoin' guy. i just dont politely introduce myself. Well you envisioned wrong then didn't you Franky! You can be skeptical all you wish, but the business plan is already being implemented and proving successful. One school solar electrified so far and now electrifying a tyre factory. The purpose of my OP wasnt actually to discuss the ins and outs of the business model but to open a discussion about how financing (solar) silicon chips with (mining) silicon chips is leading to a solid state economy - the solar bitcoin, to replace the petro-dollar. Many places in Africa don't yet have electricity, and the next project we are launching is to provide electricity to 800 individuals that upto now have been living on kerosene. They will get state of the art solar with storage micro-grids before ever been connected to a fossil fuel powered utility network. Rich Californians are whacking down big bucks for the transitioning to solar and storage. These rural communities will leap-frog straight to sustainable clean energy systems. Bitcoin is easier to manage than fiat for funding these projects so we ask our users to buy bitcoin to send us the payments instead of sending us fiat. The sum must've already sat over the strawberry farm: https://thesunexchange.com/stellenbosch-waldorf-school-15kw-solar-pv-plant |
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I would happy if bitcoin's price would add at least 1$ per day, but for sure. And those 25$ daily seems as some fairy tale. I don't know where from such information. It sounds too optimistic and not real to me. Can you tell me the exactly day from which the price will start to add 25$ per day? I wish to see that moment.
The calculated info was presented in the OP, and the price increase starts today, proof via the daily increase in the exchange rate. Keep an eye on it. |
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Okay, who here has a Pacer account so to see what's what? I was privy to the following via a PM from a user here. https://dockets.justia.com/docket/missouri/mowdce/4:2016cv01115/130490Bevand v. BF Labs Inc. et al
Plaintiff: Marc Bevand
Defendant: BF Labs Inc., Sonny Vleisides, Darla Drake, Jeff Ownby and Joshua Zerlan
Case Number: 4:2016cv01115
Filed: October 17, 2016
Court: Missouri Western District Court
Office: Kansas City Office
County: Jackson
Presiding Judge: Fernando J. Gaitan
Nature of Suit: Racketeer Influenced and Corrupt Organizations
Cause of Action: 18:1964
Jury Demanded By: Plaintiff |
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https://cointelegraph.com/news/bitcoin-price-will-reach-10000-might-take-another-year-tim-draperThree years ago, Draper predicted the Bitcoin price to reach $10,000 by now. He remains optimistic regarding the increasing Bitcoin value and expects it to reach $10,000 in a year:
“I predicted a $10000 price on Bitcoin in three years about three years ago. Might take another year.” That equates to 9,000/365 = $24.66 per day. Luckily, the blockchain is now able to handle all them transactions. It is able to ain't it? Surely, them behind-close-doors meetings were producing such solutions, attendees only taking breaks to advance a rumor or two as fodder for respective trade rags, eh?
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No bitcoins are held by The Sun Exchange, they are immediatly sold on digital currency exchanges and the fiat is used to buy physical solar cells.
so this was my initial point from the start. its not a bitcoin project. its just a fiat kickstarter where is the proposal of expanding bitcoins circulation in africa. your initial proposal was wrote that its not just another fiat project. but a project to grow bitcoins utility in africa and get people using bitcoin more. i was envisioning that you used the solar panels for mining. i was envisioning that you paid the labourers installing the solar panels in bitcoin. i was envisioning that the solar panels done something bitcoin related. i then envisioned that someone investing 1btc would eventually get back 2btc after 20 year lease. but none of those are what you are doing. you have yet to show how its a real bitcoin enabling proposal and not just a 'we accept bitcoin' payment method something just didnt seem right. i tried to keep my sceptical side away. and get you to re-evaluate your business plan as it just didnt seem right. then when you kept replying. more things started to fall apart. where even now your limiting how involved you are in bitcoin by saying as soon as its handed to you its converted to fiat. its just not sitting right. either you over emphasised bitcoins involvement instead of just saying "we accept bitcoin" or something is not right about the whole proposal Wait, what? From the OP: Solar powering Africa with Bitcoin
The solar energy crowd-selling platform www.TheSunExchange.com, which won 'Best Bitcoin and Blockchain Business in Africa' in 2016, has taken the international remittance properties of Bitcoin and applied it into solving Africa's energy crisis. |
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Thank you, CoinTelegraph, for adding more twists to the drama: https://cointelegraph.com/news/real-estate-buyer-makes-13-million-buying-home-with-bitcoin A real estate buyer in California profited nearly $1.3 mln after purchasing $4 mln worth of Bitcoin with an intent to purchase a house in California.
Earlier this month, BitPay chief commercial officer (CCO) Sonny Singh was approached by a real estate buyer based in California who wished to purchase a $4 mln house solely using Bitcoin.
Singh and the BitPay team, which provides a wide range of Bitcoin services assisted the buyer and the real estate developer in coming to terms with the final settlement. At last, a $4 mln price tag was agreed upon to be fully paid in Bitcoin.
The buyer went on to purchase millions of dollars worth of Bitcoin to initiate the transaction. At the time, Bitcoin was worth around $750 in the global Bitcoin exchange market. Once the buyer secured $4 mln worth of Bitcoin, he initiated the transaction and sent the payment to the real estate developer to close the deal. Revisiting the original boadcast - https://assets.bwbx.io/av/users/iqjWHBFdfxIU/vAYHE__RECQg/v2.mp3 (at the 7:00 mark) - Sonny Singh states that it was a reale state developer (hell, not even a real estate broker, but one who develops [new] properties oppose to merely acting as a [legal] third-party intermediary) and NOT the buyer who initiated contact with Bitpay's CCO. Further, the CoinTelegraph rag advances the notion that the exchange started at the beginning of the month (January). Interesting, given ...  ... given that Bitcoin's meteoric rise started in the latter part of 2016 when at one point the exchange rate was at $750 per, hitting $1,000+ per on the New Years Day, climbing higher prior to the correction(?) on the 5th of January, CT's twist on the original account is now blown outta the water BY ME. Sonny Singh was clear in his account (see link to broadcast above) of how a developer made contact with him (Bitpay) last month (December) because a purchaser wanted to pay with bitcoins and wasn't sure what that was, how it could be processed, etc. Nowhere does Sonny mention that the buyer purchased bitcoins for the sole purpose of purchasing a Hermosa Beach, CA, home, for he was supposedly only in contact with the developer-com-broker, again, NOT the buyer, also again, not privy to how the buyer used the bitcoins he was able to retain thanks to the exchange rate being in his favor, yet Sonny was supposedly versed on how said buyer went and purchased a Lamborghini from a dealership who just so happens to not only accept bitcoins, but uses Bitpay as their third-party payment provider to facilitate the bitcoin transaction to fiat, deposited into their bank account within 48 hours. Singh and the BitPay team, which provides a wide range of Bitcoin services assisted the buyer and the real estate developer in coming to terms with the final settlement. At last, a $4 mln price tag was agreed upon to be fully paid in Bitcoin. I'm not even going to get into how a non real estate entity in Georgia was able to negotiate a real estate transaction in the state of California where fiat, bitcoins or seashells was the currency of choice being considered. So, if Bitpay's CCO is so open in publicly disclosing its client's transactions, what are they saying openly sans broadcasts about their other clients' purchasing and selling habits? Again, I state that this is either a made up story, or Bitpay's CCO, Sonny Singh, has put one of it well-to-do clients in harm's way. THAT'S THE STORY with no other options, and now thanks to myriad periodicals picking up Sonny's story, rest assured that at least one nefarious actor having ill-intend is considering the possibilities if the latter is the case, all thanks to Sonny Singh. Genius! |
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