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OP is a troll. Ranting on bitcoin in a bitcoin forum to get attention. When bitcoin becomes $100 a coin I will be laughing.
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Personally, I encourage all hardware developers to be as awesome as BFL. OP's complaint basically boils down to "those guys are too good, and the community should prevent them from being successful."
I welcome BFL's announcement and can't wait to buy some of the new hardware.
Any monopoly earned through virtue and brilliant achievement is legitimate. If nobody can compete with BFL, then so be it.
The monopoly is good, the business practices are not. BFL could truly be evil and keep all of their technology for themselves and not sell it to the general public. Instead, they are "nice" and sell their technology to anyone who wishes to mine. They could easily, easily, take over the network and hold 99% of the remaining bitcoins in existence. Yet, they have decided to sell their equipment to everyone. I meant the things like broken promises about performance and shipping times. But yes, selling to the public instead of keeping it to themselves is only logical, since it ought to make more in the long run. Some believe this is not true. I can't say anymore since I'm under NDA. |
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Personally, I encourage all hardware developers to be as awesome as BFL. OP's complaint basically boils down to "those guys are too good, and the community should prevent them from being successful."
I welcome BFL's announcement and can't wait to buy some of the new hardware.
Any monopoly earned through virtue and brilliant achievement is legitimate. If nobody can compete with BFL, then so be it.
The monopoly is good, the business practices are not. BFL could truly be evil and keep all of their technology for themselves and not sell it to the general public. Instead, they are "nice" and sell their technology to anyone who wishes to mine. They could easily, easily, take over the network and hold 99% of the remaining bitcoins to be mined. Yet, they have decided to sell their equipment to everyone. |
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Only until BFL develops quantum miners will I agree to algorithm changes, or if someone breaks the current algorithm. Reminds me of the time when CPU miners were shut out due to GPU miners. Yawn.
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Sensationalist title? I've never claimed that blockchain.info is zero-trust but it requires significantly less trust then hosted wallets.
Agree that the title is too sensational. |
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I'm interested in the Philippine exchange. What seems to be happening now is people send me bitcoins and I simply deposit the cash to their bank account. (I give them a list of preferred banks, such as BPI and BDO simply because those are near my location.)
So you'd need to have a lot of cash on hand if someone decides to send you a lot of bitcoins.
The other way around is a little more difficult since I don't have enough bitcoins to exchange with people's cash, yet. Not too many locals have been willing to give me bitcoins (or have any to give at all.)
This seems be be a good method which can be done remotely. You don't even have to open a store front. Just tell people to send you bitcoins (by email perhaps) and then you write a deposit slip, go to the bank and deposit the local currency into the user's account. The user will need to have a bank account, of course. |
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Can't you sell the bitcoins to the Vietnamese directly?
If it's anything like where I live, it's next to impossible to get hold of bitcoins unless one has a US bankaccount.
In most countries the problem is getting hold of bitcoins in the first place, so you should be able to sell them quite profitably.
Yes I probably could to rich and techinical people. However, right now there is a need and that is to send money to family overseas. Western union and moneygram charge 10-20%. If you send $100 they will take $20. That $20 could have been a months supply of food for a person in Viet Nam. So I would think this opportunity is huge because people need to eat. |
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Thx weex. So let's walk through the steps.
1.) A family member in the U.S. sends bitcoins to another family member in Vietnam.
2.) He/she takes their bitcoins to the currency exchange. It could be a private key string on paper they print out. It could be in InstantWallet url. Or they could have a blockchain wallet.
3.) Currency exchange accepts bitcoins. They also have a vault with Vietnamese dollars which they can hand out.
4.) Family member in Viet Nam receives Vietnamese dollars and is happy.
5.) Currency exchange needs to support itself so they need to somehow convert these bitcoins into Vietnamese dollars to pay rent and buy food. They could sell them at Mt.Gox or CryptoXChange. That means they need to have a bank and be able to send funds from MtGox or CryptoXchange to their bank account. Most likely this would work better with CryptoXchange since they support more currencies.
I think the best bet, though, is to find an existing bank/currency exchange in Viet Nam. We go to them and say, if you use bitcoins you could make 10%-20% more profit.
This needs to be flushed out more but I think the basic idea is there.
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Suppose I want to open a currency exchange in Viet Nam using bitcoins. How do I go about doing this?
Right now, a lot of USD money is sent to Viet Nam using Western Union or Moneygram. How could it be done with bitcoins? Everyone in these forums keep on saying how great an opportunity it will be but I am not sure how to get started. Seems like you would need to set up a store front in a big city, for instance, the city of Saigon. That person running that currency exchange would receive bitcoins which is somehow converted into Viet dollars??? Could anyone explain how this could work? Thanks.
If we could create a business plan/formula that could be replicated in different countries and cities then it would be stupendous.
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anyone in California get their copy yet?
Got mine today in California. It was so good, some pages are now stuck together. I got mine today too. Yay. |
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anyone in California get their copy yet?
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Everything be up today!!
the gold price seems high unstable. Now it's 1560. inches from the critical bottom around 1500. |
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Hmmm.... The fee for each trade at BTCChina is 0.3%. Half the price of Mt. Gox. |
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The critical mistake here is to hand over a Ruby on Rails project to a team unfamiliar with the language. It's like handing over a Java project to a group of .NET developers.
Some may even argue it is a mistake to even code a site like Bitcoinica on RoR.
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Awesome, awesome, awesome. Please make it to the final table.
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bitcoin.org front page next to his name
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