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So what? A gathering of the biggest moneymakers in Bitcoin on an expensive to visit island and you can't go. That pisses you off? Even if you were invited you couldn't afford to go so why worry?
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No shoes, no shirt, Bitcoin, no service.
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That video is kind of stupid. On a personal note, you might want to add more cheese and bread to your diet. |
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Governments cannot stop Bitcoin. The users, developers and businesses supporting Bitcoin will do that. Bitcoin's concepts, ideals, design and success are being annexed by so many different groups it's only a matter of time before it becomes a shell of its former self. Apathy in the form of progress will destroy Bitcoin. Governments need only wait for the inevitable outcome.
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 Bitcoin is backed by orgasms. That's all you need to know. Cum join us. |
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I think they will just do it for the value of their own coins.
Great tactic from them.
Of course, they're doing it for the value of their own coins! You think they're doing this from the kindness of their hearts. That they're the Mother Theresa or Ghandhi of Bitcoin or something?! This is business, baby. They want to take that Facebook settlement money turn it into Bitcoin moon money and shart it all over Zuckerberg's face.  Or take Zuckerberg's money and prove they have no business acumen. They have a unique opportunity to show the world that Zuckerberg was right and their only claim to fame is old frat brothers that graduated from Harvard law school concentrating in tort law. |
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oh i was missing it all along Thank you Don't waste your time. That thread is an abortion of complete crap. Last I checked it was a drug thread with pictures of Cheech and Chong. I don't think any reasonable on topic info has been posted there in 50 pages. |
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Bitcoinz, they be lovin it.
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Bitcoin will not stabilize until more or less adoption can't move the price. The adoption rate of Bitcoin is happening very slowly compared to other technology. It may stabilize for a short time if adoption and rejection stands still. Bitcoin has a very slow adoption rate so the price is stable for now.  all of them started slow and exploded once they reached about 5%. bitcoin will explode some time too, but it will take a while before that happens, probably some more years. That's not to say the price will remain at $250 for years, I'm just saying it won't be stable for the next few years at least. Try 2025 or so, if you're lucky. Although, I wouldn't be surprised to see 6 or 7 digits by then. Well, that could happen. Or this could happen...   |
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You won't have to trust a third party, that's the whole point of it: No single points of failure! Just one thing that I don't fully understand yet, can you explain this: Suppose I want to buy 10 BTC on BitSquare. I see an offer from someone selling 10 BTC for $2500 and I accept it. I transfer $2500 to some bank account, and 0.1 BTC security deposit to some multi-sig address. Now, nothing happens. I wait, I get no acknowledgement, no 10 BTC, no nothing. What do I do now to get my $2500 and 0.1 BTC back? It's just a hypothetical situation, but exactly what mechanism prevents the above scenario from happening? I think he just explained it can't do that. It's for very small transactions. I'm not sure it's fair to call it an exchange but I do see an audience for it. |
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That's the way it works with OTC exchanges like bitcoin.de, they just act as escrow and an order book and I've never had a problem with it in over two years, some scammers try it but not often and if its not cleared in a week or so the coins are returned. Ymmv of course but 10k euro transactions are the point where banks are expected to have a look and make sure everything's legit and most users will be well below that. Not sure about the rest of the worlds but Fiador bank in Germany understand crypto's (bitcoin.de are connected to them in some way) and Germany's well up on it too so if the dinosaur's give any trouble in this part of the world there's at least one to move to.
I could see it working with a huge network of registered users bank accounts being drawn from all over the world for very small amounts per account. But if a large transaction hits a single U.S. account from several hundred accounts worldwide that would create questions and possibly an investigation. These controlled accounts would have to be from Bitcoin users, right? Are we all expected to link a personal bank account to use the service or are the accounts controlled by someone? Idk, it took me half the day just to figure out where to download Lighthouse, didn't want to fight with git and java and thought the pictures just meant penguin friendly  Bitsquare didn't want to play for the same reason as OpenBazzar, ports blocked by ISP. The whitepaper's fairly detailed but not gone over it much yet: https://bitsquare.io/bitsquare.pdfVids: http://vimeo.com/getbitsquare/Would be interested in hearing some details on methods of handling fiat too, and what sort of time the devs are able to devote to the project. EDIT: Couple of others too, messaging and trust/unsuccessful trades? I'd imagine this could get spammed with fake offers even with the deposit. It will be interesting to see if this ever happens. As it looks now, this has no chance of actually working while being decentralized. |
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That's the way it works with OTC exchanges like bitcoin.de, they just act as escrow and an order book and I've never had a problem with it in over two years, some scammers try it but not often and if its not cleared in a week or so the coins are returned. Ymmv of course but 10k euro transactions are the point where banks are expected to have a look and make sure everything's legit and most users will be well below that. Not sure about the rest of the worlds but Fiador bank in Germany understand crypto's (bitcoin.de are connected to them in some way) and Germany's well up on it too so if the dinosaur's give any trouble in this part of the world there's at least one to move to.
I could see it working with a huge network of registered users bank accounts being drawn from all over the world for very small amounts per account. But if a large transaction hits a single U.S. account from several hundred accounts worldwide that would create questions and possibly an investigation. These controlled accounts would have to be from Bitcoin users, right? Are we all expected to link a personal bank account to use the service or are the accounts controlled by someone? |
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When will people figure out that this is anonymous:  This is not:  Ever heard the old saying about God? If God Bitcoin did not exist it would be necessary for governments to invent him it. |
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I want to exchange 100 btc for dollars in the USA right away. Can this exchange do that? How would it happen and what would I need to do? Are you licensed to do it? Explain it to me like I'm 5.
1. You publish an offer on the BitSquare P2P exchange to sell 100 BTC for, let's say, 25000 USD. Note that "The BitSquare P2P exchange" can be either software that you download and install on your PC, or an app you run on your tabler or phone, or any of the many online bitsquare web portals that will become available. 2. Somebody accepts your offer. You get confirmation that the buying party has deposited their end of the deal (FYI, that is: they deposit 25000 USD + 1 BTC with the 1 BTC being their security deposit, but that doesn't really matter for you). 3. You deposit 101 BTC to a special address. That's 100 BTC to sell + 1 BTC security deposit, and the address you're sending to is a multi-sig address where the buyer's 1 BTC is being sent to as well. 4. You receive $25000 on your bank account, with some payment description that has nothing to do with "Bitcoin", so it won't trigger any security flags, and neither your bank nor the NSA won't even know you're trading bitcoins. The money comes from some random bank account within the USA (not neccesarily the buyer's). 5. You confirm that your received $25000. 6. You receive back your 1 BTC security deposit, minus 0.0001 BTC fee. The buyer receives your 100 BTC + their own 1 BTC security deposit minus 0.0001 BTC fee (the fees are for the particular arbitrator who happened to have effectuated the trade through the multi-sig deposit). 7. Everybody happy! Notice that steps 1 and 2 can also be: you look around on the BitSquare P2P exchange, you see an existing proposal from someone who wants to buy 100 BTC for $25000, and you accept their offer. Thanks for the lengthy explanation. I'm cool with everything except step 4. I've had more than a couple of commercial bank accounts in my life. I've owned and sold a few businesses. Who's bank account does the $25k come from? How do you open, control and fund "random" bank accounts. The commercial banking industry is a little more restrictive than you might think. Funny thing is these silly banks require things like a business TIN, articles of association, organization, formation, business license, trade name certificate. If a company provides money services, including check cashing, issuing money orders, issuing store value cards, exchanging currency, or wiring funds in exchange for a fee, banks will not allow you to open an account online. You will need to go to the branch personally to open an account and provide mucho proofs of who and what you are. You're right though, you start moving large amounts of cash around multiple accounts and the NSA won't think about Bitcoin. They'll think your a drug dealer. |
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Bitcoin will not stabilize until more or less adoption can't move the price. The adoption rate of Bitcoin is happening very slowly compared to other technology. It may stabilize for a short time if adoption and rejection stands still. Bitcoin has a very slow adoption rate so the price is stable for now. |
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I don't understand why yanks feel that the entire world revolves around them. It's not possible for anyone or any business to make a monopoly out of Bitcoin trading or exchanging. My point was that it's not possible for that stupid bully country America to control anything about Bitcoin. They can pass all the laws they want and sit on commerce and industry until their 3 hundred million people starve to death. The other 7 billion people will play in a different sandbox.
I think the regulated exchange laws and KYC stuff have pretty much become international at this point. I don't know how it looks where you are, but in pretty much every nation where I have correspondents who know about such things, the basic rules are pretty much as they are here. You have to get licensed to run an exchange, and ensure that customers provide ID to open a bank account or use a trading account, whether you are in New York, Hong Kong, or Cartagena. I'm not sure how it works in Istanbul or Cairo, but I expect it's the same. Cryddit Of course they have some kind of FATF law in most places. They aren't all the same and none are voted for, enacted, or enforced by the U.S. except those in the U.S. American business monopolies are inconsequential outside of the U.S. The great thing about Bitcoin is its ability to be used from anywhere in the world to fund an account anywhere in the world. |
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if I had a briefcase with $250k in it and I wanted to buy bitcoins who would I talk to? or is that not even possible these days?
Try BurtW, I hear he performs large cash trades with strangers. Oops, too soon? Yes - definitely too soon. You, sir, are a cad. Undoubtedly, but I like to see it as finding the hidden humor in anything. Slapstick works because we all know the victim of the pratfall is not truly hurt. Pointing and laughing at the injured is not funny. Frankly, I was surprised to read that from you. But who hurt him? Someone here? His friends and family? When Jim Carrey shoots himself in the foot it's funny because he did it in a moment of stupidity. If someone else shot him it wouldn't be so funny. That's the nature of slapstick. Burt definately shot himself in the foot. He knew what he was doing, preached about doing it right and then he did it wrong. Pure slapstick. |
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It makes sense because it makes the barrier to entry high.
The big fish can't avoid competing with each other, but by getting laws passed and law enforcement coming down on the whole "regulated money transmitter" thing they can make it require a half-million dollars or more (and half a year's delay, by which time they hope to be dominant) to get into the game.
First of all, they want to get rid of as many people as they can who are currently established and making money in the business they want to own. Regulatory compliance plus a heavy hammer on the unregulated means they can eliminate most competitors who would otherwise have first-mover advantages (except the Winklevii themselves weren't quite ready in time to do that). After that, the big fish need only worry about each other.
They can't eliminate competition completely, but they won't tolerate having to compete with insignificant little people who don't have millions to throw around.
I don't understand why yanks feel that the entire world revolves around them. It's not possible for anyone or any business to make a monopoly out of Bitcoin trading or exchanging. My point was that it's not possible for that stupid bully country America to control anything about Bitcoin. They can pass all the laws they want and sit on commerce and industry until their 3 hundred million people starve to death. The other 7 billion people will play in a different sandbox. |
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if I had a briefcase with $250k in it and I wanted to buy bitcoins who would I talk to? or is that not even possible these days?
Try BurtW, I hear he performs large cash trades with strangers. Oops, too soon? Yes - definitely too soon. You, sir, are a cad. Undoubtedly, but I like to see it as finding the hidden humor in anything. |
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Is this site with the fundraising legit? Seems pretty sketchy to me.
That's the understatement of the year. That page should read, "Stupid people please send me your money because I'm out of beer". |
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