I've been using BitcoinSpinner for a while now and like it quite a bit. I think I've read through most of this thread, so I apologize if I missed the answer to this: What happens if the backend server goes away? Can I still retrieve my coins somehow?
If the answer is no, then the one feature I'd like to request is the ability to change the backend server that the app connects to (and if a special backend server is needed, can that software be open sourced?). In the event that you and/or your server go away, I would hate to loose access to whatever coins I have stored in my wallet. Would something like that even be possible?
Besides "backup wallet" option, there is the "export private key" under "advanced" settings. I have not tested the functionality myself, but if this is the actual private key, we should be able to import it into any client. |
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 I've missed you old friend. Just over half the volume traded of the previous day but a clear, massive bullish sign. I expect a lot of to-ing and fro-ing before we jump $100 although looking back at what happened the first time we broke $100, trading was very steady for over a day before it happened.  |
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Ah, I see. Well, what I meant is this. For example, those growers sell hemp or whatever they are growing for bitcoins. But they are forced to exchange bitcoins to fiat currency for their supplies to keep the production. What I aspire is having an economy that is self-sufficient with bitcoins. So the farmer can go and get whatever they need in supplies also in bitcoins. And the supplier also get whatever he needs in bitcoins. A full-fledged bitcoin economy. And all starts with commodities. Can we get a network of farmers and suppliers to accept bitcoins? We could start from somewhere. I mean, now I have enough financial freedom to spend time on dreams like this. The foundation would be (1) food (not much going on) (2) rent (ontario, NYC, somewhere-else-in-the-US-can't-remember, Germany) (3) energy (not much going on) (4) health services (dentist in Finland) (5) salaries (archive.org, p2p foundation) (6) entertainment (?) There must be more examples I missed, and I am too busy to provide links ATM. Some people claim it is a mistake to keep trying to form local economies based on currency that is inherently global and on-line; we should instead focus on on-line use cases. I disagree - I think we should focus on hot-spots (New Hampshire, Finland, Sweden) to try and reach critical mass of diverse offerings in the same place. |
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Phillipino nannies remit over $20billion yr. If the nannies switch to bitcoin the savings from fees etc would be enormous, maybe over $100mill per year..
Try thinking exactly how this would work. Foreign workers sending money to their home countries cannot switch to Bitcoin until either of the two conditions is met: 1. Bitcoins can be spent directly for goods and services in their home countries, or 2. Bitcoins can be exchanged to the local currency at the cost lower than existing fiat-transfer fees. Note, even if this condition is met, there would be a huge imbalance in the direction of trade - coins coming into the country, not going out. To balance things out, arbitrage/fiat exchange is needed, with all the old cost we are trying to avoid here. Option 1 is the only sustainable option in thr long term, and we are nowhere close to realizing it. |
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Nice times to rake some profit daytrading. Never did that actively, but its very profitable indeed  Been daytrading for over 15 years and I have to say I have yet to see anyone get rich at it. Lot's of guys who made a quick million and then lost it all though. You can't predict a panic sell off and can easily lose weeks of profit in one day. Anyone who replies claiming to be getting rich on Bitcoin daytrading please show us your statemtents and continue to show them from now on. I doubt you will see this. Thank you. |
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It's in my hands! First attempts at non-destructive readout will follow soon, as allowed by my newborn's sleep schedule... Not that it matters, but it seems that bounty has been claimed three days after wallet was mailed out, and five days before it arrived into my mailbox...  https://blockchain.info/address/1LMKzdqhQ4LhHy5GGhT8BcG3HHpBTqAqbt |
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How will you deduce the number of garages from this poll?!
Lesser of (Suburban + Rural) and (House) will be sufficient for my purposes. How about a new poll: Do you own or rent a garage?
Yes
No
I used to live in an apartment building where occupants had an option of renting/owning a garage in the nearby row of garages. I now live in a highrise building with underground parking. Across the street from me are duplex units with a garaga each. I am obviously perplexed by what information you are trying to obtain... |
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He is!
I'm interested in the results as well. Please vote!
How will you deduce the number of garages from this poll?! |
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Was just wondering how the economy would function around deflation. Note, I am not talking about BTC denominated in fiat money so we can disregard any BTC/USD fluctuations.
Suppose the world only had bitcoins as its currency, wages are paid in BTC, banks would give out BTC loans, etc. Suppose then that an individual takes a BTC10000 mortgage to buy a house. He works and makes BTC1 per day. Because BTC is deflationary, his wages would be adjusted annually (in contrast to increasing wages in an inflationary economy) thus his wages next year would be BTC0.99 and so on and so forth. Suppose he has to consume and save some of his income, it becomes extremely difficult if not impossible to repay that loan. Is that scenario something that might happen if the economy was deflationary?
Also suppose a project required a huge sum of BTC, skyscrappers, infrastructure, etc, there would be no lenders cause they would be better off holding on to their BTC and if they charged an interest on the long, the debtor would be unable to pay it back.
Most of my economics professors believe that a deflationary economy is bad because at the margin (and economics is always about the margins) individuals would prefer to save instead of spend. Suppose a 2013 car cost BTC1000. The 2014 model is expected to be BTC900 and the 2015 model is expected to be BTC800. Any rational individual would postpone their purchase indefinitely and thus the auto industry collapses.
When a recession happens, stimulation of the economy can't happen due to the nature of BTC. Is there a reason why deflation might be good?
In many places, for most of the history, people were (or still are) living and building houses without taking loans with interest. Examples: you could work, trade, and save enough for a house. Note, as long as economy is growing, so is the purchasing power of your coins. You could inherit part or all of the savings, or a house for that matter. You could get a house for free from the government. You could rent forever. Etc. Etc. |
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I really just want to know how many of you have garages. But this could be useful for other things.
You should have asked that question in the poll, then. Are you sure you are in the right thread? |
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Do this again! I want to win it all!  Lol you dont know do you.
No, he does not. Perhaps he will instead try buying coins from Bruce Wagner, then investing half with Pirateat40, and another half with the BFL "preorder". |
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To stabilize the price against what?
The goal is to stabilize the prices in B2C (or whatever you want to call the units of this alternative coin) of the goods and services people buy with it. Of course, the relative prices of different goods change, so the goal of price stability is typically conceived in terms of a price index like the Consumer Price Index. What I'm proposing is not to use such an index directly in the code - I'm just saying that the success of my scheme should be measured against an ideal such index. What I think is possible to implement with minor technical tweaks to Bitcoin is pegging the value of 1 B2C to the real cost of computing one hash. (This peg could change over time according to a pre-determined formula chosen to anticipate changes in the cost of computing, like Moore's law and energy prices.) To the extent that the real cost of computing a hash changes in unanticipated ways relative to the ideal price index, the price index for B2C will still exhibit price inflation or deflation. But that volatility should be much much less than what we are seeing with Bitcoin. In essence, you are proposing to replace (to some extent) volatility in price with volatility in money supply. Both are prone to speculative games and manipulation. Still, I like this thread, except that it lacks specific, detailed proposals about the idea you presented in broad strokes above. |
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To stabilize the price against what?
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People sold.
People bought, exactly the same number of coins. All in all, people traded, and they were willing to trade at lower and lower prices. To answer the OP question, here is another question: why did the price triple over only two weeks? It's all completely irrational speculative gamble. The fundamentals have not changed before, during, and after the bubble. Just like in 2011, this will shake out get-rich-fast ignoramuses, and Bitcoin will finally have time again to grow, develop business infrastructure, etc. - without dramas like trade lags, backlogs of unverified new accounts, hacks... |
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since much time i trade there but since 2 weeks thing dont go very well there....
I traded a lot through virtex in the past two weeks, and all went well - including withdrawals. What exactly is your complaint? Be specific. |
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People don't realize that March was full of highs, April is to compensate for that. Sooner or later, the price will slingshot and those who sold will get left behind.
^ This.... The time to sell was a week ago. It may not yet be time to buy back much, but selling doesn't look like a sane option (if you haven't already). Unless you need cash. And you've got nothing more appropriate to sell. And you don't expect bitcoins to skyrocket in value any time soon. None of that applies to me, but I can see how it may apply to somebody else, thus making selling a sane option. Why, if you bought or mined or earned your coins below $50s, it's even a good deal! |
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Breiwik's attack on multiculturalists also were initially reported as Al-Qaeda attack. The western propaganda runs ahead of both horse and carriage.
Even as a supporter of such bombing attacks in asymmetric warfare (and USA is at war with many) I don't see the marathon as a good target to bomb. There are many international participants from nations potentially friendly to bombers who might get killed or injured as a result. There are better and just as easy targets that could win both support of population and strategic military victory when bombed. Federal government buildings, military bases or companies supplying military, political organizations opposing the bombers, the list goes on and on. Bombing of sporting event makes no sense to me.
Good point: lots of participants were international. This is a known fact about Boston Marathon. Whoever detonated the bombs, knew this, too. Seems like a perfect target if you wish to pump up international efforts on "war on terror". Help our allies jump on board, and head towards... uhm... Iran? Syria? NK? We will know soon. |
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nothing to do to withdraw cash or btc.
Your request could not be processed
Insufficient funds for withdrawal
time to search for something better.
Try leaving $0.01 in your account. I think they have some rounding errors, when I try withdrawing all I get the "insufficient funds" message. Leaving one cent in the account, withdrawal works fine. |
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Shouldn't your post this in Meta?
Just realised. Re-posted it in Meta but unfortunately can't seem to delete this thread. You can move the thread you started - look in the lower left corner of the screen. And yes, I don't think this forum should allow further advertising of BFL. With their incompetence, scamminess, and arogance they are doing damage to everyone involved with Bitcoin. |
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It's the weekend slump. Once people's fiat starts appearing in their Gox accounts, I really expect a short term rise this week to at least 140.
There is no weekend slump, except when a slump happens on a weekend. I looked at the historical data, and you can do the same. There is no correlation between weekends and drops in the price. |
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