And who might those be? Who exactly would gain from having bitcoins hover around $3? I'm sorry but I just can't imagine someone benefiting from keeping the price stable. The doomsayers want bitcoin at $0, and the believers want bitcoin at $100, $1000, and even total M0 of the world /21 million. |
|
|
|
|
SOPA mostly deal with online piracy, and pirates don't pay for the things they download. They didn't pay with fiat back then, and they are not going to start paying in bitcoins now.
|
|
|
|
With a world GDP of $48 trillion, the price of a single Bitcoin -- supposing it made up only 1% of the world's economy -- would be $22,857. I think Bitcoin could be one day be worth 1% of the world's economy. And my guess is that with the financial turmoil today, there are some enterprises willing to look into ASIC and FPGA investments for that eventual 1% as well.
You're confusing productivity (the P in GDP) with currency. The two can't be compared like that. There are currently 980 billion USD in circulation. Suppose the BTC economy is 1% of the US economy, then each BTC equals roughly $1000 USD. |
|
|
|
|
Would it be possible to send out an email alert when there's a margin call?
|
|
|
|
|
Bitcoin could reach up to $4 or more. I'm 100% certain about this.
|
|
|
|
My understanding of a VAT, is that the product is taxed whenever "value" is added in the chain. According to the Wikipedia Article, suppliers are able to deduct the tax they pay on inputs, such that they only pay the government tax on the "value" they add. This is awkward for bitcoin if it is considered a commodity. That implies that in a country with a 20% VAT, 10 BTC of any 50 BTC coin creation transactions should go to the government as tax. If you buy coins low, and sell them high, you would also pay 20% tax on the profit (if your coin supplier also paid the VAT, 20% on the face value otherwise). This brings up an awkward situation where it may be considered beneficial to consider bitcoin a currency (and all the expensive regulation that entails) in some countries (like where VAT is a concern), and a commodity in others. If it is a commodity, you you need to secure export and import permits to move Bitcoins across borders? Edit: I also did not mention that informal transactions totalling less than ~$35 thousand a year are often exempt. As BTC prices rise, more and more miners (and informal traders) may flirt with the threshold. Only if your business is trading bitcoins (good luck convincing the tax man). Your scenario is describing a capital gain, so the capital gains tax applies, which is usually much higher than the VAT. |
|
|
|
I tried to make a wire transfer 2 days ago, and yet again the banking industry managed to surprise me with their new height of ineptitude. I gave them clear printed instructions for the wire transfer, but they couldn't do it because "the SWIFT code is invalid". There's a bug in their outdated software that failed to parse a perfectly valid SWIFT code, and yet they kept insisting my information was wrong. So I had no choice but to withdraw everything in cash and deposit them into a second bank. Bank #2's software managed to recognize the SWIFT code (Well done!  ), but before the bank clerk could send out the wire, they had to "confirm with the manager". The "confirmation" wasted me 10 minutes and in the end I was told that the cash deposit would have to be held for 2 business days before the funds can be sent out. Bank #2 couldn't clear bank #1's certified cheque on the same day (there's that ineptitude again) so I had no choice but to do the transfer in cash, and now my money is being held hostage. Between a bank that can't recognize a valid SWIFT code and a bank that takes 2 business days to check for counterfeits in a cash deposit MADE IN PERSON, I can't tell which one's worst. What do you guys think? |
|
|
|
|
The weekend's over. Any updates?
|
|
|
|
|
It's a simple PR issue. Those criminals selling fossils fuels has very good PR points with the western world and do regular photos ops with the western leaders. Botnet operators and bitcoin miners on the other hand...
|
|
|
|
No offense, but if you can't figure out how to short within 5 minutes then trading probably isn't for you.
It could be that if you can figure out how to short within 5 minutes, then trading is not for you. IIRC, Z let slip that pretty much all of the shorts were cleaned out on the 80% rise a month ago. Figuring out how to trade is quite different from figuring out how to make money with 100% certainty. The former takes 5 minutes and the latter no human being has managed to figure out yet. |
|
|
|
So... I went to the site, and it's mostly non-functional. It doesn't support CAD despite what their advertisement claimed, so they wasted 3 minutes of my life. There isn't even a "coming soon" notice for CAD, so I obviously won't bother to check again in the future.
Great job.
Hi iamzill, Deposits of CAD, and over 20 other currencies, are absolutely supported right now for inbound deposits. Deposits made in those currencies are converted at market rates to USD or AUD so you can participate in the market. It would not make sense to enable trading natively in those currencies right now, because we need the volumes and liquidity to increase first. Someone can send in South African Rand, but if there's no BTC seller for Rand, then it's useless for the customer. So all currencies are converted and the marketplace operates more effectively. As volumes increase, we'll add the native support for the next marginally-popular currency (probably EUR or GBP). I encourage you to make a deposit in CAD (using internet banking or cash at your local branch) and see how it works. We've had 2 or 3 CAD deposits thus far from new clients. And when withdrawing national currencies, we support over 120 different currencies outbound to banks in almost every country in the world. With any issues, please feel free to chat with out Live Support which is online the majority of the day (green link at the top-right of the website). Kind regards, -Crypto X Change Good to hear CAD is working, but my original point was that there's no indication of this anywhere on your website (without signing up). CADBTC is not listed as a currency pair, and the impressive list of phone numbers you have at the bottom of the website does not include a Canadian number. Currently the CAD market is a monopoly right now. If you can get a piece of the pie I assure you it'll be worth it. The Canadian economy is only 1/10th of EU's, and yet CADBTC volume is half of EURBTC. You guys have API available which puts you months ahead of your competitor. I have two questions for you guys: 1. How are you dealing with the Canadian anti-money laundering laws? Your Canadian competitor imposed strict daily and monthly limits which made their service essentially useless for large customers and businesses. 2. What's the "market rate" you convert currency at? How big is the spread? |
|
|
|
The announcement that mtgox is Satoshi?
There was a violent earthquake, for an angel of the Lord came down from heaven and, going to the tomb, rolled back the stone and sat on it. His appearance was like lightning, and his clothes were white as snow. The guards were so afraid of him that they shook and became like dead men. The angel said to the women, “Do not be afraid, for I know that you are looking for Satoshi, who disappeared. He is not here; he has returned, just as he said. Come and see the place where he lay. Then go quickly and tell his disciples: ‘He has returned and will speared Bitcoins to the end of the Earth.’ Now I have told you.” |
|
|
|
|
No offense, but if you can't figure out how to short within 5 minutes then trading probably isn't for you.
|
|
|
|
|
So... I went to the site, and it's mostly non-functional. It doesn't support CAD despite what their advertisement claimed, so they wasted 3 minutes of my life. There isn't even a "coming soon" notice for CAD, so I obviously won't bother to check again in the future.
Great job.
|
|
|
|
When will 10:1 leverage be implemented? What exactly is the "verification" procedure?
We will launch the new version this weekend. Plus a big news. You will know soon. Good to hear that. Keep up the good work. |
|
|
|
|
When will 10:1 leverage be implemented? What exactly is the "verification" procedure?
|
|
|
|
A more realistic user count can be gleaned by adding all the active (varying on base period of time) users from the the largest mining pools.
Not everyone mines. No one suggested that. But the strictly 'buyers' are not much of the issue and unfortunatly are not a large percentage of the user base. That is the real issue, getting more people to be buyers. I quoted you word by word. You're also forgetting people who buy mining contracts, people who invest in mining companies, people who turned off their rigs due to the price drop, people who spend time everyday promoting bitcoins on blogs and youtube, people who spend countless hours coding and debuging bitcoin clients. IMHO less than 50% of the active community are miners. |
|
|
|
A more realistic user count can be gleaned by adding all the active (varying on base period of time) users from the the largest mining pools.
Not everyone mines. |
|
|
|
And so in a thread about Chinese protests in support of OWS, reductio ad hitlerum occurs within 20 posts.
You really need to look up what "reductio ad hitlerum" actually means. |
|
|
|
|
Show Posts
