Reading about mmitech issue makes me wonder...
How do the Muslims deal with banks? Interest = 0%??
serious question.
If I understand it correctly , Muslims are not permitted to earn interest on money, this is "Riba" and is forbidden. What they can do is receive rent for an asset they own - so a Muslim may buy an apartment, a physical good, and receive rent for allowing someone else to use it. Given that bitcoin is not a physical thing on which one can earn a return I would have thought it was a bit of a grey area for Islamic finance anyway. Equities are ok as are securitizations as in those you buy the right to a series of cashflows that derive from a real asset, bitcoin hmm, tricky. |
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Ok that article in NY Post yesterday made me go search through my Bloomberg terminal this morning
Winklevoss Bitcoin Trust is now in Bloomberg showing as Pending Listing
BBGID is BBG005D76341
you can also find it from
0881422D US Equity <go>
Not sure if you can find it if you don't have Bloomberg professional - or if this means it will actually be listed, but.....
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This thread is becoming unbearable
if people like shroomskit stopped bashing on every analyze or a prediction or a question and simply not take everything personally this thread would be cleaner, but well this is what happens when the price is not moving. as I said before, Bitcoin needs bubbles for its survival, if that doesn't happen soon, the community will simply kill it. The community wont kill bitcoin - what will happen is that the current members of this community are replaced by new members , and both the community and bitcoin will continue. Bitcoin will in effect destroy its existing community members before recreating the community with new members. |
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Where did they get the 500k coins?
There are silkroad's coins, Ross's personal coins, and also the coins from some other dealer they arrested. It actually might be much more than 500k. Maybe 1M. Source? I thought it was 140,000 140,000 is just the site wallet for silkroad users. Then there is Ross's 400k and about 400k from that dealer which occured more recently. are you sure? isn't 30k going for sale now bitcoins from the site wallet and users and 140k is ross ulbricht personal stash? You know what - I'm not 100% sure. My apologies if it is incorrect. Whatever the total amount is, it is much bigger than 30K. I seem to recall hearing 'The government now owns 5% of bitcoins' somewhere. AFAIK the 30k is from the Silk Road and there is another other 140k that is from Ross Ulbricht. This is correct. TERA is just bear trolling like usual. You are the one trolling. This topic has no price prediction attached to it so what does it have to do with 'bear'? Maybe if you had mentioned some of the positive news stories from recent weeks then you would not be being accused of bear trolling, I can think of a few - and am sure there are more Expedia accepting bitcoin for hotel bookings - which means I can go the Commonwealth Games in Glasgow in August purely using BTC. Dish accepting Bitcoin (a while ago I admit) Apple allowing wallets back in the App store Ebay CEO comments on Bitcoin integration possibility with Paypal. California Bill that moves to make BTC a legal currency Coinbase move to allow merchants to offer discounts to those paying with BTC - as well as the top up functionality that allows users to automatically buy back the BTC they spend. |
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As long as we have alcohol, there will always be at least two currencies.
three , you forgot cigarettes. |
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Secondmarket syndicate wants to charge a 5% fee if your bid is successful lol. $50,000 minimum bid.
This is their business model: inventing all kind of fees  . They already have entry fee, exit fee, 2% per year safekeeping fee - and now 5% bidding fee  Its called fund management - and you missed off the performance fee where they keep a % of your upside. |
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seriously - come on fonzie you can do better than that
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Russia, China, Thailand, India, and no doubt many more to come.
What we (including myself) all once thought was anarchic internet money of freedom, is actually The Man up to his same old tricks.
Russia, China, Thailand, Bolivia... what do all these countries have in common? Lack of freedom and human rights. (BTW, BTC seems ok in India, new exchanges etc have opened) Saying Bitcoin is "the Man up to his same old tricks" is like saying that women's liberation was planned by "the Man" to put pressure on the middle east and other countries. No but Women's lib might have been planned by "the Man" to weaken the power of Labour and enhance the power of Capital -> double the supply of labour, and dramatically reduce its cost. Then again it might not. Just the law of unintended consequences |
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Who the F cares about Bolivia.
It only means that BTC is doing something right.
You don't think it is a bit fishy that Bitcoin is getting a very poor reception whenever it comes to the attention of any non NATO affiliated/controlled governments, whilst Western governments are all giving it the greenlight? I thought Bitcoin was meant to be a threat to the USD hegemony? If that is the case, why haven't the likes of Russia and China embraced it with open arms? Why isn't America banning it? Why are they legitimising Bitcoin by selling seized Bitcoins to entities such as large Western banks? IF Bitcoin was really a threat, the US could kill it stone dead, 2moro. Russia, China, Thailand, India, and no doubt many more to come. They all know that Bitcoin was/is a pilot developed by NSA to wage financial warfare on other countries' economies. They can smell the US sanctions and/or other economic pressures and the capital flight via Bitcoin a mile off. A liquid Bitcoin market in a country also makes it very easy for powerful entities to get funds into that economy in order to sponsor 'destabilisers' of that economy/political system to do their deeds. You actually believe this stuff yourself? Stop smoking too much of that stuff man it makes you paranoid.  Just give it a few years m8. Something along those lines will come out about Bitcoins origins. Perhaps it has something to do with the levels of corruption in the countries that are banning Bitcoin - corrupt regimes would have less interest in adopting an open protocol with a ledger of transactions that is open for all to view. |
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Avarus is Latin for Greedy or Covetous, make of that what you will The company is basically a shell designed to be able to buy businesses and merge with them - then sell them for more money. There is an IPO document filed on the nasdaq during 2010 - the IPO never went ahead. http://www.nasdaq.com/markets/ipos/company/avarus-inc-841122-65636from the IPO document "Our business purpose is to seek the acquisition of or merger with, an existing company. The acquisition of a business opportunity may be made by purchase, merger, exchange of stock, or otherwise, and may encompass assets or a business entity, such as a corporation, joint venture, or partnership. We have very limited capital, and it is unlikely that we will be able to take advantage of more than one such business opportunity. We intend to seek opportunities demonstrating the potential of long-term growth as opposed to short-term earnings. We will not restrict potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business. As of the date hereof, we have made no efforts to identify a possible business combination including, but not limited to, not conducting negotiations or entering into a letter of intent with respect to any target business and we have not entered into a letter of intent or any definitive agreement with respect to any target business. The analysis of new business opportunities has and will be undertaken by or under the supervision of our officers and directors. We have unrestricted flexibility in seeking, analyzing and participating in potential business opportunities. In its efforts to analyze potential acquisition targets, we will consider the following kinds of factors: (a) Potential for growth, indicated by new technology, anticipated market expansion or new products; (b) Competitive position as compared to other firms of similar size and experience within the industry segment as well as within the industry as a whole; and (c) Strength and diversity of management, either in place or scheduled for recruitment." |
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Apparently it's 37 people and they are not all bidders. Anyone that has asked a question appears on the list.
So this means all of them could simply be asking if they could send a really low ball offer, just in case. "Hey I'll buy all of the coins for 10% of their value." "Is there a volume discount?" Why not? or some of them could genuinely wish to acquire 30,000 coins and appreciate that buying them in the open market, on an exchange they are able to use (basically just Stamp) in a short timeframe, will cost them a lot more than paying say $650 a coin. |
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Money has multiple functions, one of them is hoarding (aka saving). Even if Bitcoin had zero merchants and served this hoarding function alone it would be valuable.
Because it is:
- Decentralised
- Non-inflationary
- Easily stored and transferred
- Anonymous (sort of)
- you continue...
I would argue that in a conventional economy there is a difference between hoarding and saving. Saving = Investment, ie savings are productively invested in the future of the economy Hoarding = burying in the back garden (or location of choice) - this is a non-productive use of resources - and there are very few ways currently of productively investing BTC (I am not sure lending them on margin counts - and Havelock Investments and the like are not yet trusted by large sections of the community - with many valid reasons) |
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People with big pockets are coming.
That's what people were saying when I joined this forum over a year ago. Some people speculate that the big players are already buying BTC slowly at what they consider to be the current low prices, but there's not much proof supporting that theory. although to be fair the price is 5x higher than it was this time last year |
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I don't know much about tax, how would this affect me if I traded on plus500 as well?
Depends on your tax jurisdiction and its treatment of contracts for differences. In some places (UK amongst them) CFD's are treated as gambling and thus tax free. |
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De la Rue
(if you don't know - they make banknotes/paper for 153 fiat currencies.)
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Note the story in the FT from this morning about how the US government is considering forcing exit fees on individuals placing their cash into bond funds - essentially a wealth tax on savings in liquid instruments when they are sold. (or a cash grab depending on how you look at it)
I would post a link but its behind a paywall.
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I think the better question here is anyone taking this thread seriously?
Technical analysis is a little bit like licking a finger, holding it in the air, and then trying to predict the weather.
It's just....well, fundamentally flawed.
My favourite bit is the way it claims to be a % accurate by subtracting the % amount it misses the price by from 100%. If you are not 100% right, you are 100% wrong. In these circumstances being right is an absolute Try talking about confidence intervals instead. |
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chance of a 10x rise before the end of September remains between slim and none.
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This 'price moves on or is correlated to the news' mindset is some sort of old school wall-street-minded thinking which started up when all these 'wall-street' people and big experienced investors started getting involved with bitcoin - that is the only way they know how to think. They aren't familiar with this decentralized market structure with the predictable underlying technical forces that we are familiar with, lack of regulation/transparency, and gigantic chunks of the supply being held by irrational children.
If you think big wall street players are not familiar with irrational children you have never met the average hedge fund manager |
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