It's funny that when I asked for a $100 loan before but gave no explanation, I received several offers. Now that I say I have an idea, everybody and their grandma is skeptical, people are so quick to judge. The fundraising step isn't related to seasteading but the funds I raise will be at a later point. The fundraising step is a simple buy bulk/good deal, sell fast at good deals,  , profit, repeat scheme. It's not really that surprising. It's kind of like the difference between applying for a personal loan and a business loan at your bank. With a personal loan, how you're going to use the money isn't usually relevant to your capacity to repay - with a business loan, your capacity to repay is very often dependent on how you're going to utilise the borrowed money. I think it also threw people when you said that your idea could be put back 1-2 years by the lack of $100 now. By and large, the loans given around here are short-term with those seeking investment for their projects posting elsewhere and offering a stake in the venture in return for the funding. |
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I used them to pay my programmer to write all the software my company uses. I also purchased most of my computer hardware with them, and use them as a medium of exchange between myself and several friends. They seem pretty useful to me.
Are you paying your programmer the same amount of Bitcoins per hour for their work as you were 3 months ago? Will 100 BTC buy you as much computer hardware now as it did 3 months ago? The purchasing power of your Bitcoins has declined significantly. More importantly, the total purchasing power of the "Bitcoin community" has a whole has declined significantly. For many people, this greatly diminishes their usefulness. People need some kind of predictability about what they'll be able to purchase tomorrow and next week with the currency they hold today. Even those services which accept Bitcoin typically adjust their BTC prices as the BTC/USD exchange rate changes so that they're still charging roughly the same USD equivalent. For most people, it's simply not as convenient to be paid in Bitcoins as by conventional means because converting them back to cash attracts fees, takes time, there are and there's no guaranteed exchange rate. Even if the actual conversion process wasn't a pain in the ass, how many people want to risk this week's pay-packet being worth 25% less by the time they convert it - something which can easily happen right now? I want you as my employer to be assuming the risk of BTC declining in value rather than risk effectively risking 25% less for my services. Most people simply can't afford the risk of their wage packet being worth significantly less from one day to the next. |
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So what is the great humanitarian Brucey doin' these days and what ever happened to that video that was supposed to be inside MtGox Headquarters? Maybe it was lost in the hack of MyBitcoin?
Judging by his tweets, he's been busy camping out at the Occupy Wallstreet events, and offering his flat as a place for other protestors to shit, shower, and sleep. (Though I didn't realize the OWS guys were homeless) Are you serious! Remorse you think or does he see another confidence loophole somewhere? He's "teaching Bitcoin classes" at Occupy. No new gimmick, just a different audience. |
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I used them to pay my programmer to write all the software my company uses. I also purchased most of my computer hardware with them, and use them as a medium of exchange between myself and several friends. They seem pretty useful to me.
Are you paying your programmer the same amount of Bitcoins per hour for their work as you were 3 months ago? Will 100 BTC buy you as much computer hardware now as it did 3 months ago? The purchasing power of your Bitcoins has declined significantly. More importantly, the total purchasing power of the "Bitcoin community" has a whole has declined significantly. For many people, this greatly diminishes their usefulness. People need some kind of predictability about what they'll be able to purchase tomorrow and next week with the currency they hold today. Even those services which accept Bitcoin typically adjust their BTC prices as the BTC/USD exchange rate changes so that they're still charging roughly the same USD equivalent. For most people, it's simply not as convenient to be paid in Bitcoins as by conventional means because converting them back to cash attracts fees, takes time, there are and there's no guaranteed exchange rate. Even if the actual conversion process wasn't a pain in the ass, how many people want to risk this week's pay-packet being worth 25% less by the time they convert it - something which can easily happen right now? |
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Question: Does Trade Hill trace users in the same way Mt. Gox does?
Also, as an alternative to Paypal, you can use Dwolla. I'm not sure about their charge-back policies but I have heard less complaints about them than Paypal. So one route would be: $$ from bank account ---> Dwolla ---> Trade Hill ---> Bitcoins. I have used this and it works well. The longest delay is between my bank account and Dwolla. The other transactions clear within a day or so.
If you really wanted to keep your bitcoins at Mt. Gox you could then transfer bitcoins from Trade Hill to Mt. Gox and then you would avoid giving Mt. Gox your bank account information.
TradeHill hasn't accepted Dwolla since they had problems with chargebacks a few months ago. They support CAD if you're willing to use Paxum. https://www.tradehill.com/DepositOverview/CAD/The other options are wire transfer and Liberty Reserve. https://www.tradehill.com/Support/Deposits/ |
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The next stage will involve constructing large structures that will sell for 1000+% what they cost. Attention investors: I plan to do the same thing, except I will make structures which sell for 2000% of what they cost. Does this involve seasteads? |
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I can't fathom from your post anything at all about what you actually want people to invest in. What is it that you're actually going to be producing with the funds people lend you?
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What's amusing is that the "Learn more about Bitcoins here" link on the MtGox website goes straight to Bitcoin.org where Bitcoin is indeed described as both money and a digital currency.
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Yesterday we saw another daily record turnover - 200K BTC changed hands... I suppose only 50K of original BTC are responsible for it (50K was traded 4 times)
The question is - where are 7 000 000 outstanding Bitcoins... why they not taking part in trading? Can somebody explain?
For a lot of early adopters, Bitcoin is an ideological thing. They've planned from the start to hold their Bitcoins very long term and have little interest in trading their coins any time soon. Many of them see speculators as greatly damaging to the basic concept and ideology of Bitcoin, and view trading Bitcoin like a commodity as a bad thing. There's also a non-trivial amount of trading which happens outside of the exchanges. |
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If anyone from here is harassing him, knock it the fuck off. We're not /b/.
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This organization will accept donations in fiat money and at least guarantees the minimum price on bitcoins. For example, if the organization took donations for the $ 1 million, it can guarantee a price not less than 1/7.5 = $ 0.13 per bitcoin.
It would only guarantee that minimum price if no more Bitcoins were being produced. In reality, to maintain the guarantee you would need additional donations every day or the value of that guarantee would drop as new coins were produced. |
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Are you emailing all of your clients? 7 days is a very short window for redeeming their deposits so you need to do everything you possibly can to ensure that your customers are aware of the need to act quickly.
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There are a lot of free mental health resources online. There are also mental health professionals who offer online services for a fee. I suspect that charging anonymous clients would be an ethical minefield for mental health professionals as the therapeutic relationship creates a legal duty of care to the patient. Most reputable clinical psychologists would probably avoid such services for ethical reasons, leaving the less qualified and less reputable "psychotherapists" and "counsellors" peddling their wares to the emotionally vulnerable and unstable.
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According to Adam's post on reddit their lawyers haven't advised them about defending trademarks. [–]gvsteve 5 points 21 hours ago
My understanding of trademark law is that you can't trademark something and then allow anyone to use it. You are required to defend your trademark or you lose it. But maybe that's just in the US. Does anyone know the legal details of this?
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[–]MtGox_Adam 4 points 18 hours ago
If this is true, it's the first we (and our lawyers) have heard of it. http://www.reddit.com/r/Bitcoin/comments/lbthr/mtgox_the_pascazi_retaliation/ |
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Why does it seem so fitting that his last act on the forum before nuking his account was borrowing half a Bitcoin?
Who's your next teen rescue project going to be Matthew? Atlas and Jake haven't worked out so well.
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Looks like he's deleted his forum account.
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Start a new block chain and say it's backed by gold. C-Gold and Pecunix started out with tiny investments and grew from there. Somewhat more stable pricing, at least no pump and dumps straight to $1
An individual exchange or e-wallet could back its holdings with gold but you couldn't back an entire blockchain with gold without creating a central authority to issue the digital currency and purchase and hold the gold reserves. Because new coins are created on a set schedule, they'd need to buy gold equivalent to the value of those new coins each day. That requires some serious capital reserves. |
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I wonder if Atlas holds the record around here for the most self-closed threads.
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I think #1 issue is insurance.
I quote myself. Insurance is #1. One exchange has posted that it has liability insurance to cover losses. https://bitcointalk.org/index.php?topic=48226.msg576459#msg576459Individual businesses can almost always insure themselves in some way if they're prepared to pay the premiums. It's hard to know what the extent of compensation by an insurer would be in reality until a BTC business tries to make a claim and the various defined events in the policy need to be interpreted. Obviously only certain types of losses are going to be covered by an insurance policy. One issue with Bitcoin is that many services seem to be started with little or no capital behind them - I suspect that a lot of them wouldn't have the funds to purchase insurance in the first place, let alone to self-insure. |
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