Not likely. There would probably need to be a partnership agreement formalizing the partnership, rights, duties, responsibilities, etc.
So in the absence of a formal agreement there wouldn't be a default classification for these? This surely is something that has been seen. This wouldn't be the first time multiple people unknown to the entrepreneur have put money in towards a venture, without any formal legal structure being formed first. |
|
|
|
I thought bitcoin was all about being open and zero transaction fees.
Open yes. Zero fees. No. Though to most retailers, for instance, who pay $0.15 per-transactions plus 3%, a fee in the range of a U.S. penny is the same as free. Now, if there is someone who really wishes to support the ability for zero-fee transations make sure your miner has a connection to the node listed in the Free Transaction Relay Policy wiki page: - http://en.bitcoin.it/wiki/Free_transaction_relay_policyWith that, any transaction -- fee paid or not, microtransaction or not, can be included in the next block that miner solves. |
|
|
|
Update - Technical issues with sign-up and payment gateway have now been fixed.
After six confirmations my payment did show up in the "Deposit/Withdrawal History" after I clicked "My Account", but at the top the Balance still showed $0. I then logged out and once I logged back in the correct balance showed. Later, after the expiry of my first binary option bet, again both the Transaction History and the Deposit / Withdawal History showed the correct balance that I was expecting to see. However, the Balance at the top still showed my balance as it looked at the point I had logged in. After logging out and logging back again, once again the correct amount appeared at the top.Can't withdraw with bitcoin though.  If you deposit with bitcoin, you can withdraw with bitcoin. Is it? I don't see that option listed. I saw OK Pay, but later read that withdrawal to OK Pay is only possible if the deposit was from OK Pay as well. The only option I could see for withdrawal asked for bank account number. The FAQ for bank wire withdrawals shows:
- Wire Transfer – $25 USD
My experience with this service was good. The currency pairs offered are:
- EUR/USD
- AUD/USD
- GBP/USD
- USD/CHF
- USD/JPY
I spot checked the rate for the EUR/USD and it matched nearly verbatim with:
- http://www.forexrate.co.uk/EURUSD-currency-rates.html
I can definitely see this service being interesting to the Bitcoin community.
From the FAQ: Ioption consulting services Ltd. are not authorised by the FSA to conduct financial services business in the UK or to accept business from persons in the UK. That's interesting. OptionCentre may, from time to time, at its sole discretion, require a customer to provide additional proof of identity such as notarized copy of passport or other means of identity verification as it deems required under the circumstances and may at its sole discretion suspend an account until such proof has been provided to its satisfaction To deposit or withdraw any funds with OptionCentre the following criteria must be met by each client. (this must be done only once except you must send the copy of your credit card if you deposit with a different card ) Deposits will be accepted and trades allowed while the verification process is pending. No withdrawals will be processed until the account is validated. - http://www.optioncentre.com/index.php/staticpages/faq#tab3Not entirely unexpected. I just wanted to make sure this was clear to all reading this post.[Update: ] |
|
|
|
Spain is not supported at the moment. As soon as I find a suitable payment processor for spain you"re going to find an announcement here but so far no luck.
When I click certain countries (e.g., Peru, Brazil, Mexico, Costa Rica, U.S.) the site changes from showing "via Bank Transfer" to "via SafetyPay". However all of these get the response "Invalid order" after clickiing the Confirm button. Is supporting SafetyPay transactions something new? Will it be functional at some point? |
|
|
|
When you spend a USD on something at the door do you think to yourself every time "I wonder what the CAD exchange of this USD is right now". I know I don't.
You do if the price shown is in Canadian dollars. Well, you don't have to but to know whether or not you are getting a fair price you want to know the exchange rate. What we need to do is start training ourselves into thinking... 1btc is = to a haircut, or a shave, or a movie ticket, or a movie download, and not to the current exchange rate of some country currency. If the supply of bitcoins was variable and targeted to provide price stability then you might be able to do that. But Bitcoin's supply is fixed. So prices in terms of BTCs will rise and fall based on a number of factors. With electronic systems, comparing prices, even when they are constantly changing, is not much of a big deal. That's why you'll often see a price shown in both BTCs and USDs, where either may change minute-to-minute based on various factors. |
|
|
|
So after 20:00 GMT each day, I lose any record that shows my actual cost basis? Not even in Logs?
It's all logged of course, and I'm going to deploy a more advanced Logs page which would show your trades history, executed orders, etc. Are those logs misreporting the transaction type? It looks like it is reporting "sell" as the type when a "buy" is what occurred, and vice-versa. |
|
|
|
if there is an issue and a respin is required, the customers are basically unsecured creditors of a likely insolvent company and are fucked. If BFL could show proof that the preorder money is in a relatively safe store of value and isn't being used for RnD and production, I would probably feel comfortable enough to buy a single or two to keep mining next year.
And if the funds weren't being spent as you suggest they might be then BFL would have no reason not to put those funds into an escrow account and to have an independent party or auditor periodically review and assure that there is at least X dollars in the escrow account. |
|
|
|
I don't say I want that, just it is easy and possible, so now or later someone will do that.
Taint analysis of the coins involved in the May 12th theft of bitcoins (Bitcoinica's May Rackspace hack, not Bitcoinica's March Linode hack nor Bitcoinica's July Mt Gox hack): - http://blockchain.info/taint/182tGyiczhXSSCTciVujNRkkMw1zQxUVhp?reversed=trueif you have coins in that list and you were not the bitcoinica hacker and didn't knowingly buy them from the bitcoinica hacker, then I will buy your tainted coins from you, at the normal rate I charge when I trade, e.g., 1% fee. |
|
|
|
There are significant startup costs and capital allocation requirements associated with this venture. We are interested in your feedback.
If it doesn't have to be an all-or-nothing deal, then start by going where they aint. - UK (GBP) is the largest expansion market for this service. There is room for more cash-out options - Mexico (MXN) - One of the largest remittance markets in the world, and not a single bank-friendly cash-out method exists (well, Bit-Pay offers it but only for its merchants) - Hungary (HUF) - No other exchanges yet. - New Zealand (NZD) - There is a NZ exchange, but liquidity issues make it expensive for cashing out larger amounts. - Sweden (SEK) - Same ... an exchange here exists, but doesn't handle larger amounts well (yet). Fairly comprehensive list of cash-out methods: - http://en.bitcoin.it/wiki/Selling_bitcoins |
|
|
|
Idea: A DB of addresses that pooled funds such as MtGox can contact so they don't send to them. Lottery and SD addresses come to mind.
I submitted a support ticket to Mt. Gox requesting this capability: There is the repeating situation where people are withdrawing from a Mt. Gox to an address which is incompatible with a hosted (shared) wallet like how Mt. Gox customer accounts use.
SatoshiDICE is one of these. The betting site returns winnings (and commissions in losses as well) for all wagers to the sender's bitcoin address. There have been numerous reports of a party not knowing Mt. Gox accounts aren't compatible in this manner and using it anyway.
While Mt. Gox isn't unique in maintaining a hosted (shared) wallet for its customer accounts, it is the largest. It might be good customer service to at a minimum maintain a blacklist of static bitcoin addresses where any BTC withdrawal requests from Mt.Gox are checked against this list. If there is a match either the request is rejected or at a minimum the user is warned before proceeding.
There are multiple services like this ... SatoshiDICE, BTCDice, BitLotto, and a handful of others much smaller.
There might even be a way to automate this where any service that is incompatible with EWallets can submit a request to be blocked. The request would be a standardized format and be submitted as a message using the message signing feature available in the Bitcoin.org client. There would probably be two messages for this, one to add a block, anther to clear a block. That's far down the road though.
At present it is just a handful of addresses which would be best if they were excluded.
Would Mt. Gox take the proactive step and add some method to either block or warn the user when these withdrawal requests are made?
SatoshiDICE could add one restriction. If the coin happened to be coming from a green address (such as those from Mt. Gox, Instawallet or wherever else they are offered) to return it without treating it as a wager. That's would only solve a tiny fraction of these as most are not Green Address withdrawals, but it likely will happen a few times. |
|
|
|
Square has grown dramatically since its prior round of funding, now processing over $500 million of merchant transactions a month,” PrivCo said in its report. Bitcoin needs to take a slice of that market. Take a room with a hundred typical people. How many in that room have a bitcoin wallet, perhaps as an app on their mobile and then compare that to how many have a credit card that can be swiped. Every one that does have a card (which is pretty close to everyone in the room, especially since prepaid cards count as well) can make a purchase where a Square register is used, so that makes the merchant's investment in hardware and the expense to change the point-of-sale process be something that can be justified on a per-transaction basis when considering all the transactions that will occur. Currently, most credit card transactions at retailers occur using dedicated point of sale system or card swipe terminal. Fortunately, Square register is causing standard iPads to be introduced as a replacement for the legacy systems. Bitcoin can more easily expand as a payment method accepted by merchants who are already using Square register because the same hardware -- an iPad, can also be used for Bitcoin transactions. The problem for now is that Apple has evicted all Bitcoin wallet apps from the App Store. Web-based EWallets, like Blockchain.info/wallet will still serve the purpose, but it is a crude workaround compared to the improved user experience a mobile app can provide. But bitcoin doesn't need to have its own point of sale. The free Square register app has a method to accept cash payments, so non-credit card payments are already supported. Bitcoin purchases could be treated, as far as Square register is concerned, as cash payments (though a manual end-of-shift or daily reconcile would need to occur). I gave an example of this dual use of the Square register app here: - http://bitcointalk.org/index.php?topic=2732.msg843575#msg843575Since Bitcoin won't be receiving a couple hundred million in VC financing to build things like Square register, and has no mobile design team or marketing budget, if Bitcoin becomes a better competitor against Square it will be in the category of person-to-person transactions. The differences against square include Square's 2.75% fee, the delay in access to funds from the charges made through Square, the restrictions as far as what type of transactions Square allows, etc. There are so many competitors in the payments space that there will be features that will translate well to Bitcoin (such as Square's able to passively approve payments based on location reported by its mobile-aware app.) It may cost millions to design, develop and deploy a solution, but the cost to copy the successes are trivial in comparison. And there is much of the world where Square's approach will never be useful, especially for its mobile-to-mobile payments strategy. Where much of the world still uses feature phones (even for a large demographic in Square's own target market), there is room for other solutions. Coinapult's SMS wallet might be getting reworked to be available globally (or some other SMS Wallet proivider might arise and offer the same), That will have a much greater transaction volume potential for Bitcoin than a head-to-head competition against Square ever will. |
|
|
|
Hi friends.
Any questions, I am here!
L.
A few questions: 1.) Had there been any prior contact from any agency in Brazil related to Bitcoin or this investment fund? 2.) Will the investment fund be closing? If not, will it be closed to all investors from Brazil (current and in the future)? Also, if not, will you continue to administer it? 3.) How large is the fund currently (bitcoins invested) and how many investors are there for that amount? Round 8 shows 500 BTC, is that correct as the total investment currently from all investors? What is the largest amount by any one investor? 4.) How much of this current round was carried over from the previous round? How much of earnings are re-invested (e.g., from the last round into this round?) 5.) Have there ever been any rounds where there were losses? 6.) Has there ever been a claim by an investor that access to funds wasn't granted? 7.) Do the balances of wallets, EWallets and exchange accounts (valued in terms of BTCs) currently either equal or exceed the total amount invested? i.e., can every bit of the invested funds be accounted for? Has an audit ever been performed by another party? 8.) Are there any ties with other Bitcoin or financial-related organizations? (e.g., own, are employed by, or receive compensation from any exchange?) |
|
|
|
Is there any graphics/video cards coming out any time soon that would be good for mining? I'm thinking about building a rig with two AMD Radeon HD 5970's and I don't want to spend money on those cards if something better is coming out in the next 6 months - one year.
Just to make sure you realize what you are getting into. In about 19 weeks the block reward will drop to 25 BTC per day. While that has been known for a while, nobody knows what the difficulty will be by then or in the months after. What is known is that difficulty has been steadily rising again, even with this deadline looming as the rising exchange rate has caused profitability to rise to relatively high levels. Anyone with near average or above average electric rates will likely not be able to mine profitably come December, unless the exchange rate rises above $10 or so. So unless you pay under $0.10 per kWh, you might want to rethink buying a new GPU card if the only reason you are looking to do so is for mining. The other wildcard is the date for when ASIC designs ship and in what quantity. They have the ability to completely obliterate GPU mining profitability in just a matter of days. Now if you were considering a GPU card for gaming and would mine on it as well, then none of this really matters, you mgiht as well go for it and get a few months of decent mining revenue while it lasts. |
|
|
|
Once retrieved and turned into discrete transactions, I'd like to stuff the whole thing into a sql database, and after that point it's really pretty simple to manhandle the data however it wants to be. But getting to the point of the entire transaction history in a db...I'm stumped.
The bitcoind RPC gives getblock/gettransaction. See the new stuff in 0.7 as well: - http://bitcointalk.org/index.php?topic=89725.0There are other tools that you can use to build this capability as well. - libBitcoin - Armory (see Extras) http://github.com/etotheipi/BitcoinArmory/tree/master/extras - Bitcoin ABE - BitcoinJS - BicoinJ |
|
|
|
So that works out to 0.25% to 0.50% extra.
Keep in mind that the miners that are not including the SatoshiDICE transactions are not receiving those fees. Thus there's a little higher percentage from fees for Slush and others that don't reject the SatoshiDICE transactions. It still represents a pretty small amount, but might be another factor that weighs when choosing a pool. |
|
|
|
|
Show Posts
