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Many thoughts running through my mind after reading this. Considering shorting BTC. Dwolla probably relies a lot on Bitcoin-related businesses for revenue, but all the trouble they're having might push them toward dumping all Bitcoin-businesses as Paxum did instead of fixing their problems. Dwolla's a pretty small start-up... Hopefully they can't afford to dis-associate from Bitcoin. I know a LOT of people who use Dwolla. It's pretty darn close to free for US citizens to get cash into an exchange, and it's the only method I've ever used to transfer money into an exchange. So close to seeing a sustained push through $5, too. Hmm.
Either way - good luck, TH.
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Related. Went to an after-hours clinic yesterday after getting some methanol-containing shellac in my eye. Mom drove me. She sprained her ankle a few weeks ago and had her ankle x-ray'd. They billed her $1400 just for the x-ray. Asked the doctor @ the clinic about it. They are equipped to do the same x-ray and would've charged $50. To have my eye examined under UV, and some other basic tests, cost me $40 (and I'm fine, btw). Pretty darn reasonable. I also waited a much shorter time in the clinic than my mom did in ER (granted, they were at different times, so somewhat non-comparable). He also prescribed me an antibiotic for bronchitis -- $10 for a full prescription, no gov't subsidization. So, why do hospitals charge 28x more for the same procedure than an apparently-profitable clinic? Valet services? Subsidizing those who can't afford to pay the extreme prices? ETA: Uncle's home insurance is covering my $40 cost to have eye examined (+having bronchitis looked at in the same visit), so total out-of-pocket cost for me - being uninsured myself - between bronchitis, a z-pack prescription, and having my eyes examined for damage after a can of shellac exploded, is $10.  Thought I'd make the edit more visible. The insurance company (uncle's home insurance -- the can of shellac exploded in his basement, and my mom sprained her ankle on their steps) didn't require I call, was friendly and accepted my emails as proof-enough, and is sending a check directly to me. Even though I requested to waive my rights to potential future claims, the insurance company actually refused to let me waive that right and is willing to cover an additional $960 if ever required. Uncle's home insurance is also covering $1k of my mom's $1.4k cost, and she's going to attempt negotiating with the hospital to bring the cost down to $1k, so ideally she'll have no out-of-pocket expenses. I'll update as updates occur.  ETA: Hospital reduced their obnoxious price down to $1.2k, only $200 out-of-pocket as home insurance covers $1k. Not terribly shabby. |
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Hmm no bitcoin songs :-(
My very talented friend MaxMin has already covered that, although I'm working with him on a parody song for Silk Road. How long did it take you on /gif/ to build up that folder? |
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It's been talked about. It costs nearly $100 to create a new asset, but would give bond-holders a certain amount of liquidity I think they'd appreciate. It's in my thoughts. For now, this is messy, but it works well-enough. I intend to live up to my name. I must have missed that talk. the 20 btc fee for new asset seems to me unreasonably high. It used to be 1/10 of that. anyway it should be a one off payment for a ticker/key. creating sub .assets should be then free of charge. for a few days/weeks he should be busy with bugfixing the new version, thinking about the right time to open discussion about fees. what I like on the other solution is that it comes with public trading and in last month few thousand of btc of new capital. and not all assets are mining. I looked at the spreadsheet and it might be worth it the fees and migration and stuff. I've stumbled upon you in the TyGrr forum already. I like your projects and wish you all the best. & I might be back for the escrow Thanks It's talked about a bit here: https://bitcointalk.org/index.php?topic=66733.0 The "Banking Cartel" talked about it on Skype, too. I think Nefario's reasoning for unreasonable fees was to prevent scammers, perhaps similar to why Silk Road charges so much to register as a seller (something like $125 IIRC) when it used to be free. It's good for investors, but definitely turns away potential asset-creators. Listing CDs/bonds on GLBSE would definitely be worth the fee if other lenders were on board and we started a collaborative effort. It's just a matter of someone having enough balls & interest to take it seriously, get everything prepared, and just do it. ETA: Thanks for the re-sticky, someone. |
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not sure if glbse is worth the effort but issuing asset there might be cheaper or with less binding character.
issue 1-2-3-6-12 M bonds at lower rates or shares w/o guarantee of profit. if you have little slack, profit will be close to modeled expectation. if things go wrong, secondary market could absorb them at a loss or premium blah blah
nice idea anyway. good luck and keep posting signs of life
It's been talked about. It costs nearly $100 to create a new asset, but would give bond-holders a certain amount of liquidity I think they'd appreciate. It's in my thoughts. For now, this is messy, but it works well-enough. I intend to live up to my name. Cheers! |
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BDK is pleased to announce we will now be issuing CDs for SolidCoins.
SolidCoin CD rates for CDs purchased in March (D=duration in days):
32D: principal - 10.05% @ date of maturity
63D: principal - 21.35% @ date of maturity
94D: principal - 43.5% @ date of maturity
(see terms in OP for additional details on CDs -- note that if you request early withdrawal, unlike with BTC CDs, negative interest on SolidCoin CDs are still taken into account)
h/t Pat
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You can lock in a 50% return for the year, or risk a suspension of deposit taking. It states that deposits are taken at discretion, and interest rates move.
There are also costs for committing to a one year term versus a shorter duration. Many bank deposits have different rates for several months versus several years, and often have a bow-shape.
Yeah - a 364D loan for the depositor is "set it and forget it," but for me, it likely means a lot of PMs exchanged, feeling more nervous and trapped while making sure things line up so I can fit in something like 12 30D loans with only 4 days worth of "slack." Having 32D loans gives me relatively more slack (assuming I'm making 30D loans), and if I want to, I can simply refuse to renew CDs, go enjoy vacation for a few months. On top of that, the compound interest I'll enjoy as extra profit will most likely exist only as unused change in my wallet. That said, I'll adjust the rates, probably remove the almost-a-year CD entirely. Thanks for pointing it out. ETA: OTOH, buying a 364D CD means the depositor is taking on a fair bit of risk, too. It means having money tied up that much longer without much extra reward, and the USD price of BTC could plummet, while the depositor is unable to save anything during a major crash. The more I think about it, the more I don't like the option even existing. ETA2: Changes made in OP. Interest rates increased slightly all around, over-half-year and almost-full-year loans removed. |
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"I hope she doesn't buy moldy (in the bad way) cheese again. Shouldn't be as much a problem with Fontina... How the fuck does a major retailer sell moldy cheese, anyway? Wanna talk about irrational markets..... I feel relieved. Wanna turn on TV, but there's never anything on and I don't want to have to search for wherever Meris put the mouse. Not really much point in turning it off. Can of air, fan has hair, ... not that anyone gives a care, gonna poke that derriere. Damn, hope they don't think I'm gay for writing that. I disappoint myself. *static*"
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[How To Lower Your Interest Rate] Paying an interest rate above Prime? You could lower it through the following methods (% rate reductions are absolute, not relative): *Provide gov't ID & utility bill. Bill & ID must show same home address. Verification results in an interest rate reduction of .5% MPR *Provide pay stubs, income tax forms, or proof of funds showing you could repay $10k+ within a year. Verification results in an interest rate reduction of .75% MPR. *If verification information shows you live in the US, you'll receive an interest rate reduction of .5% MPR. This isn't intended to discriminate on prejudice, but it's much more economical and less complicated to collect from someone domestic. **If verification information is not in English or Spanish, your rate reduction will be reduced by 50% (relative, not absolute) to compensate me for the time to run the documents through OCR, try to correct all the blunders the OCR software made so I can get them translated, and ask someone in your locality if the documents look legit. ETA: Please also see https://bitcointalk.org/index.php?topic=97214.0 for more information on how to get the best rate for your loan. |
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I know i'm going to be yelled at but..
What is mining ? And why are so many people talking about that ?
https://en.bitcoin.it/wiki/Miningtl;dr It's work computers (whether CPUs, GPUs, or FPGAs) do to process/validate Bitcoin transactions. Having many miners (ideally, many miners mining independently and relatively slowly) doing work makes it more difficult for unsavory people to do what's called a "double-spend attack." Mining is currently "subsidized" with Bitcoin rewards "out of thin air" -- that is, every time a block is solved, 50BTC is created and given to the miner who "solved" the block (or given to a pool to be distributed among miners in that pool). In many areas, however, electricity costs can make mining unprofitable. FPGAs, OTOH, are often profitable (perhaps excluding hardware failure costs), but can take a looooong time for it to pay for itself, while GPUs consume much electricity and are thus less likely to be profitable, but in instances where electricity is fairly cheap, pays itself off very quickly, with much higher revenue (and potentially profit). Since mining is currently profitable for many, many mine coins, either as a hobby or for a significant source of income. |
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Can also vouch for Gox. No problems with CryptoXchange, either, and I hear Intersango's great if you're not based in the US.
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Operations permanently halted due to negative equity. 9/11/12[Lender Vitals]Amount of BTC available to loan out: ~฿150BTC currently loaned out (excl. defaults): ~฿3125
Held Securities' FMV: ~฿4400
Other assets: ~฿100
Loans in default: ~฿50
Total deposits: ~฿3750
Other Liabilities: ~-฿250
Assets minus Liabilities: ~฿4325
Asset/Liability & "I/O" Disclosure: https://docs.google.com/spreadsheet/pub?key=0Ao892S4MOoDZdGZSbjJVd1ZTbFVLZE5aRE95bE91NVE&output=html
[Information on Loans]
*Basic rules for requesting a loan from me:
-Do not lie to me. If you lie to me or use weasel-y language (for example, sending me a "personalized" PM saying I'm the only lender you've PMd, but sending a similar PM to every other lender in this sub-forum), I will reject your request and alert the other lenders to it.
-Do not bother me unless you have >50 posts on this forum and at least 5 positive transactions you can point to worth a significant amount of BTC.
-I want information. You're better off providing me with bad-looking information than no information. When I'm not provided enough to fully assess, I assume you're trying to hide it and it's as terrible as I can imagine. I'm first operating on the assumption that a conventional bank will not loan to you. Tell me why, and why they're making a mistake.
-I'm not interested in funding your Pirate account.
*Loans come in three basic tiers.
-"High-Doc" - Your best shot of getting the prime rate is having a publicly-established method of paying back (mining API, invoices, or pay stubs), ID (govt-issued gov't ID card, SSN, and recent utility bill), and live in the US (no intent on discriminating, it's just most economical for me to collect from you if you default and are located in the US). You also need an extensive, positive business-related reputation on this forum or OTC. I don't care about your eBay rating. You generally will not receive this rate unless I'm pretty familiar with you. There is no maximum loan amount for this category.
-"Average" - This tier is assigned to those who have provided at least two forms of verification (exceptions possible) and have an extensive, positive business-related reputation on this forum, OTC, or HeatWare/similar. The maximum loan amount for people in this category is 500BTC.
-"No-Doc" - This tier is assigned to those who have not provided verification but have at least a moderate amount of business-related reputation on this forum. The maximum loan amount for people in this category is 100BTC.
*Minimum loan amount is 10BTC. There is no minimum time-frame, but you're very unlikely to get a long-term (3mo+) commitment from me. I want to cycle money rapidly so I'm able to rapidly adapt to changing market conditions, and changes in our situations.
*Other than that - just send me a PM, and we can work something out.
**Looking to reduce your interest rate? Look here!**
[How to Deposit with BDK/IOU]
*CDs (Certificates of Deposit) come in durations of either 32-days ("32D") or 63-days ("63D"). The minimum investment amount is 50BTC (keep in mind that as long as you have ~.1BTC, you can invest in BDK.BND). If you were to take out a 63D 100BTC CD on 7/12 and the 63D interest rate is 10%, for example, it would mature on 9/13 to be worth 110BTC.
*You are not guaranteed to be able to withdraw your deposit prior to the date of maturity. You may request early withdrawal, and I'll try to get the coins back to you, but you will forfeit all accumulated interest and receive only principal. These are not "demand deposits" most people are used to with banks - and BDK/IOU is NOT a bank.
*You can reinvest interest if you'd like. Just let me know what you want to do. You can also renew only principal if you'd like, or have principal + interest returned once the CD matures. The earlier the warning you give me, the more I'll appreciate it -- I generally PM depositors about a week before your CD matures.
*I do not keep records of depositors' names in public. I privately record only the repay address and a reminder so I can figure out the depositor's username. You can view deposits out @ https://docs.google.com/spreadsheet/pub?key=0Ao892S4MOoDZdGZSbjJVd1ZTbFVLZE5aRE95bE91NVE&gid=3
*I am willing to accept USD-denominated USD deposits, but these will be at significantly lower rates and longer durations. Please PM me for more details.
-Alternately, you could deposit by purchasing BDK.BND. You can withdraw whenever there's enough liquidity on GLBSE, you don't need to interface with me to deposit more or withdraw, and you can keep your investments consolidated by only needing to access one website. BDK.BND pays a flat 1% every Monday and is listed on GLBSE. For more info, click here.
GPG (feel free to email associated address)
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Well i just signed up and i don't know what that service is Provide me more details and i will consider it Buyers send BTC to me, I hold them until the buyer claims the item is in their possession, then release the coins. If buyer claims item hasn't arrived (or if you claim the item's shipped and it's time to release the coins), you need to provide evidence (a tracking number, for example) the item was shipped. If there is still dispute after that, then I mediate between the two of you, and whoever has the most convincing evidence wins. This protects the buyer from scammers and gives those buyers confidence that the seller is not a scammer, thereby allowing you those customers who would otherwise pass. |
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I'm willing to hold BTC in escrow at no charge if OP is interested.
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Next up, mining with case fans.
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Oh alright. I am thinking of just start selling things on this forum to make BTC. Will that work? yes that will work. Ok how do I make threads in marketplace? It's not letting me. I think the time-online requirement is something like 2-5 hours before you're allowed to post in other boards. ETA: 4 hours -- https://bitcointalk.org/index.php?topic=15958.0 |
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Oh alright. I am thinking of just start selling things on this forum to make BTC. Will that work? Yes, but you'll probably be practically required to either send the item first or use escrow given you have no rep, however. |
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Selling items for BTC: relatively easy
Set up Dwolla & MtGox account: easy enough, and very cheap, but takes a while (3-5 business days for bank->Dwolla transfer if lucky), and if you're buying a large volume, you'll likely need to provide ID & whatever else is asked for
Trading PPUSD (Paypal) for BTC: Easy, but you'll likely pay a significant premium IF you're able to find anyone willing to take the risk
BitInstant: Pretty darn easy. There's a pretty significant fee for the convenience, however.
Mining: Pretty easy if you already have a higher-end ATI card. Otherwise, hard and will take a fairly long time.
You might be able to get away with finding a GLBSE-listed company still selling IPO shares, then sell PPUSD to them for shares which you can then sell on GLBSE for BTC.
There is also a high-fee (but instant) way to buy Bitcoins using your phone service called DialCoin, but their site appears either down or very slow.
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