Not sure if this has been said yet, but I think the price might rise substantially after the Alibaba IPO opens today. Many people may have sold coins and are holding it in Fiat. If and when the price goes past the amount they want to pay for the stock they will then take that fiat and reinvest it back into BTC as soon as they can. It will in essence cause a run up very quickly in Bitcoin as well.  We will see of course. . . Hmm... interesting what time IPO opens ? Lets hope You are right. Supposed to open at any moment. It is on LIVE at https://www.nyse.com/bellI am trying to buy a little but I did not sell any BTC to do so. Just moving some funds from a Roth IRA over to it.  Should be interesting today . . . Now why would that cause the price to rise? Sorry I'm not getting it. Many Chinese investors want to purchase. Easiest way for them to do so would be selling off BTC here in US somehow. They already sold to have fiat ready. This is pure speculation of course. Oh, I see what your getting at. They sold to go into a more profitable investment. |
|
|
|
Not sure if this has been said yet, but I think the price might rise substantially after the Alibaba IPO opens today. Many people may have sold coins and are holding it in Fiat. If and when the price goes past the amount they want to pay for the stock they will then take that fiat and reinvest it back into BTC as soon as they can. It will in essence cause a run up very quickly in Bitcoin as well. We will see of course. . . Hmm... interesting what time IPO opens ? Lets hope You are right. Supposed to open at any moment. It is on LIVE at https://www.nyse.com/bellI am trying to buy a little but I did not sell any BTC to do so. Just moving some funds from a Roth IRA over to it. Should be interesting today . . . Now why would that cause the price to rise? Sorry I'm not getting it. |
|
|
|
|
Our wealth seems to be diminishing daily. What the hell is going on?
|
|
|
|
For what purpose, exactly, do we need these Bitcoin banks?
And after all that wall of text, I still don't see any support for your assertion that 'if the pervasive central banking system is a scam, then so is Bitcoin'.
We need banks to loan people money to buy houses, cars and other expensive items. It's going to be impossible for me to convince you that the concept of the FED is not a bad one because you seem to think the FED is controlled by a cabal of international financiers. Even if it were controlled by evil forces that would not make the idea or the system bad just like all the scammers and fat latte drinking exchange owners don't make Bitcoin a bad idea or system. |
|
|
|
Why do we need to call it a Central Bank, why not call them a safehouse instead of a bank. Banks got a bad name already.
You can call it whatever you want but it will still be fractional reserve banking. Delta Financial Offers Interest-Bearing Bitcoin Accounts: Customers can store bitcoins and US dollars in separate accounts, each of which can earn interest, says Delta Financial’s co-founder, Euwyn Poon. There are separate interest rates for each currency, he explained, adding:
“Interest rates are dynamically adjusted based on supply and demand. They’re adjusted nightly to account for the amount of bitcoins and US dollars in the account.”
In addition, the firm guarantees a 5% minimum effective interest rate.
In traditional banking, accounts generate interest because banks loan your money to other people at a slightly higher interest rate than they pay you, enabling them to profit from your deposit while guaranteeing you a safe return.
Delta Financial does something similar, lending money from interest-bearing accounts to other customers. Those other customers use the loan for trading bitcoins against US dollars on the company’s own margin trading platform.
There are a few dangers here. The most common one is that the market moves quickly against a trader, and that the trading platform isn’t able to close out its position automatically by selling the coins or dollars it needs to recover its funds. After all, bitcoin is becoming a more liquid market, but it isn’t as liquid as many more established markets. To cover this eventuality, the firm will cover deposited funds with its own reserves in the event that the market moves so quickly that a margin deposit is lost.
Source: http://www.coindesk.com/delta-financial-offers-interest-bearing-bitcoin-accounts/Here's another one. http://www.bitsavings.org |
|
|
|
If you substitute the word dollar for the word Bitcoin in your statement how is it different?
It is completely different. True, at one point in time, what we called the dollar was a fixed weight of silver. Back then, fractional reserve banking was not pervasive - at least not at a federally-sanctioned, pervasive level. However, after the founding of the FED, there was a program unfolded over decades that got us off of that definition of the dollar and onto its current definition. It is now not a fixed weight of silver, but rather a federal reserve note of no fixed measure. These federal reserve note 'dollars' for which we grub are already nothing more than an IOU. There is no discernible difference between the IOU in paper form, and the IOU in terms of transferable bank balance. In either case, the backstop for the paper IOU and the bank balance IOU is the FED. In the case of Bitcoin, OTOH, there is a distinct difference between the Bitcoin itself (i.e. you and you alone have the private key that enables transferring the associated value) and a Bitcoin IOU (i.e. the bank has the private key {unless they have loaned it out}, and you merely have the bank's word that they'll give you the associated Bitcoin when you ask for it). I really don't see how this distinction is hard to grasp. You'll need to expound upon your point before I agree with you that 'if the pervasive central banking system is a scam, then so is Bitcoin'. I really don't see it that way at all. Indeed I see no correlation whatsoever. Sure you can point to various scams in Bitcoin-land - but these are each single failures. They are not institutional. They are not endemic to Bitcoin. In contrast, the wealth-stealing nature of each and every central banking edifice is systemic in nature, and an integral foundational concept upon which the system is predicated. With Bitcoin you need to be able to use it for it to have value. You only have the word of any company or exchange that they will honor any agreement. Many Most of the Bitcoin exchanges and business have ripped people off since day one. The "banks" surrounding Bitcoin will happen regardless of our desire and they will thieve us too. They can also be quite useful and to operate a country as complex as the U.S. they're mandatory. Each one of the changes to the FED over decades happened because someone was trying to solve a problem because that's the job of the FED. Sure they screwed it up many times and made it worse at times but Nixon didn't just wake up one morning and decide to go off the gold standard and devalue the dollar. The status of the economy and international markets made the Gold standard unnecessary and impractical. People today love to preach about saving up gold for when the shit hits the fan. That's a new thing that happened in my lifetime. When I was young you couldn't buy gold because it was illegal and there was no place to buy it from. Only after we went off the gold standard were private citizens able to buy gold. A Bitcoin FED will never exist. Governments have to be in control of their money. Bitcoin doesn't fit that bill. All the FED really does anyway is protect consumer credit rights, oversee national payments systems, manipulate money and credit conditions to attempt to provide full employment and stable prices. If anything the FED is a clean up crew that tries to keep private companies from taking down the entire country (banks, savings & loans, mortgage companies, other miscellaneous scumbags with lots of money). Bitcoin banks, on the other hand, will happen. One of the very first things I saw naturally evolve on this forum was loans and lending. The lenders will end up centralized because they will have all the money to loan. They will get richer because they will charge interest. If the people or person controlling the central bank is honest then all is well. They will stay rich and we will get to buy things on credit. Let's say, Satoshi comes back from the grave. He has lots o' Bitcoin. He could easily act as the central bank and everyone would trust him and want him to do it judging from all the threads here because he's somewhere between Mahatma Gandhi and Jesus Christ. Most likely Satoshi won't be the bank. Remember most of the Bitcoin exchanges and business have ripped people off since day one. I expect our banks to follow the trend of the rest of written history and do it to - but we need them. |
|
|
|
They need an audit. They're not entitled to the "small company exemption" with assets of US$64 million. Here's the "Companies Act" section to which they refer. They may be able to claim that they were a small company in 2012, and get a year after becoming a large company in 2013 to comply. For 2014, they need a full audit. They may be entitled, if they have less than 50 employees (very likely) and turnover less than £6.5 million. The section of CA2006 quoted by you says: The qualifying conditions are met by a company in a year in which it satisfies two or more of the following requirements
Also, an annual statement normally contains both a statement of operations and a balance sheet. They just have a balance sheet, and one with too little information. All their liabilities, including customer deposits, are consolidated into one number.
This is worthless.
As a small company they can choose to present abbreviated accounts (and they did) with very limited info. What I'm wondering is whether company with such activity falls under FCA/PRA regulations... I thought Bitstamp was in the UK? Why is their financial statement in dollars?
UK law allows companies to present statements in their operational currency (for Bitstamp it's USD), they have to convert to GBP for tax purposes though. Oh, got it, thanks. |
|
|
|
Yeah, and this is why the Justice system in America blows.
Joshua Zipkin needs some street justice. IE: A bat to the head.
This is a public forum with probably more LEOs than real people. We'll just assume you mean this:  TO  No, i mean this:  +  As for LEOs - who gives a flying... I still say my idea's funner:  + =  We can even hire someone of the likes to deliver the payload:  That is better because it doesn't have an associated prison term. Are you going to the conference? |
|
|
|
|
I thought Bitstamp was in the UK? Why is their financial statement in dollars?
|
|
|
|
People "in the know" like you and me will accept no substitutes and demand payment in the real thing.
Anecdotal evidence suggests that the very founding of the institution of fractional reserve banking was predicated upon lies and chicanery, upon fraud and deceit. Unlike the scenario where gold depositories violated their core oath to safely store their client's metals -- by loaning these assets out to others -- transacting in Bitcoin IOUs carries no advantage whatsoever from transacting in actual Bitcoins. In contrast, transacting in depository-issued certificates or notes rather than the metal itself has very real advantages, in terms of the convenience of portability, divisibility, etc. (Ignoring for the moment the very real risk disadvantage) With Bitcoin IOUs conveying no advantage to the user whatsoever as compared to transacting in actual Bitcoins, knowledgeable people will have no incentive to prefer them. With the very real negative of possible loss of value, people have every incentive not to accept Bitcoin IOUs in lieu of Bitcoins. With no advantage, and a very real disadvantage, knowledgable people will not accept Bitcoin IOUs in lieu of Bitcoins. If we can get the populace informed of the attributes of Bitcoin -- and more importantly the attributes of the fiat money system -- we can stave off any embryonic move towards fractional reserve bitcoining before it has a chance to take root. But people are really, really stupid though and will want it despite any problems. If you substitute the word dollar for the word Bitcoin in your statement how is it different? Anecdotal evidence suggests that the very founding of Bitcoin was predicated upon lies and chicanery, upon fraud and deceit. When I first came to this forum looking at mining Bitcoin many of the pools were ripping people off. I donated the very first Bitcoin to organofcorti when he came up with Neighborhood Pool Watch. Meni Rosenfeld and organofcorti would engage in long debates about the mathematics behind how the pools are cheating people. Bitcoin was only the currency of drug dealers when I first came here and about half of the threads were about SR. Scammers abound in Bitcoinland so much so that outside authorities needed to be brought in to capture the worst offenders. Just because people have infiltrated a system and used it fraudulently for their own gain doesn't make the system at fault or you would have to blame Bitcoin too. Many people I talk to are having that issue with Bitcoin. They don't want to even let me talk to them about it because of all the problems at the start. |
|
|
|
Yeah, and this is why the Justice system in America blows.
Joshua Zipkin needs some street justice. IE: A bat to the head.
I would not disagree on the justice system. But I take exception at the earlier comment (by Questionable) saying tech people are pussies is a bit of a flamebait comment. Some of the people who bought from Joshua Zipkin would hardly be considered pussies. We have a number of war veterans and active duty service members in our midst here that he defrauded, that said they are also law abiding citizens. Everyone who has done business with that scumbag of a human being has lost something, why give him the upper hand legally by doing something that only makes his position justified. And the way he is he will play it up and act like its anti-semetism. There are alot of ways an illegal action against him goes sideways against the people acting. AND it gives law enforcement sympathy which makes it that much harder to act against him. Those people are law abiding citizens who are looking to get justice legally. We all are. This is not wrong. That said, we might lose that battle. But some people have been to see him before. Plenty of videos and photos of that. So to call people pussies and instigate people to violence serves no one anything. Would we feel better? Sure. But at what cost? Prison? He needs to be in prison.....I gotta ask whose side are you actually on questionauthority? I'm not saying that they are pussies only that these scammers understand them to be weak. Scammers prey on law abiding citizens because they are weak pussies in a way because they rely on a system that protects the criminal. Scammers have no problem breaking the law. War veterans and active duty service members would have a big problem with it and try to use the justice system only to have it fail. Look at some of the threads where Inaba calls his customers pussies, idiots, fools and every other thing he can think of. Well that tells me he thinks they are all just pussies that can't do anything to him. And so far he's right! Ok fair point....at least I get your mindset on that. But yea you are right on that point. Well I suppose it is only a matter of time before someone loses it and takes it out on these assholes in a way they may not like. But you are right they dont care about the law. Their interest is on skirting the law. Take a look at the post above this one. ROFL |
|
|
|
Yeah, and this is why the Justice system in America blows.
Joshua Zipkin needs some street justice. IE: A bat to the head.
I would not disagree on the justice system. But I take exception at the earlier comment (by Questionable) saying tech people are pussies is a bit of a flamebait comment. Some of the people who bought from Joshua Zipkin would hardly be considered pussies. We have a number of war veterans and active duty service members in our midst here that he defrauded, that said they are also law abiding citizens. Everyone who has done business with that scumbag of a human being has lost something, why give him the upper hand legally by doing something that only makes his position justified. And the way he is he will play it up and act like its anti-semetism. There are alot of ways an illegal action against him goes sideways against the people acting. AND it gives law enforcement sympathy which makes it that much harder to act against him. Those people are law abiding citizens who are looking to get justice legally. We all are. This is not wrong. That said, we might lose that battle. But some people have been to see him before. Plenty of videos and photos of that. So to call people pussies and instigate people to violence serves no one anything. Would we feel better? Sure. But at what cost? Prison? He needs to be in prison.....I gotta ask whose side are you actually on questionauthority? I'm not saying that they are pussies only that these scammers understand them to be weak. Scammers prey on law abiding citizens because they are weak pussies in a way because they rely on a system that protects the criminal. Scammers have no problem breaking the law. War veterans and active duty service members would have a big problem with it and try to use the justice system only to have it fail. Look at some of the threads where Inaba calls his customers pussies, idiots, fools and every other thing he can think of. Well that tells me he thinks they are all just pussies that can't do anything to him. And so far he's right! |
|
|
|
Yeah, and this is why the Justice system in America blows.
Joshua Zipkin needs some street justice. IE: A bat to the head.
This is a public forum with probably more LEOs than real people. We'll just assume you mean this: TO |
|
|
|
A cryptocurrency's worth is:
50% Technology (solid, long lasting)
50% Public acceptance (merchant adoption, network effect)
The rest is just shitty gimmicks.
Ooh, don't discount the value of shitty gimmicks!  |
|
|
|
Of course you're qualified for a certification. Everyone reading this forum for more than a year is probably qualified. I think it would be better for you to link up with a brick n mortar school to offer the certification online. That might add a little credence to it. You're in New Jersey right? Why not contact NJIT or UNNJ about offering an online class? You could even offer them the curriculum and teach them about Bitcoin. Make the pitch that other universities are now offering Bitcoin courses and they could lead the country in being the first to have a certification program using this new technology. Not to mention the fact that they will make a little money on the deal.
Not specifically for certification but I actually have been making Bitcoin caontacts. I contacted Rutgers and Stockton (near Atlantic City) but no real interest so far. Shamoon Siddiqui has been working with NJIT http://njitvector.com/2013/colloquium-bitcoins-with-shamoon-siddiqui/Princeton has professor Felton doing some research https://freedom-to-tinker.com/blog/felten/bitcoin-research-in-princeton-cs/Well I'm sure if you keep at it you'll make it happen. I think the business certification idea is a good one. I had my reservations at first like Rassah did because we have seen so many money grabs using this forum you end up like a puppy hit with a rolled up newspaper too many times. You flinch and react before you think. This idea may be a little premature but I guess that won't hurt. Linking it to an established respected institution of higher learning is priceless and could help some kid get a job someday. Good luck. |
|
|
|
http://www.whsv.com/news/headlines/Pot-Bust-Leads-To-Investigation-into-Mans-Computer-228429621.htmlUpdated: Sat 12:33 AM, Oct 19, 2013BROADWAY, Va. -- Friday night, Jonas Diener was out on bond after being arrested earlier on in the week for possession of marijuana.
It isn't the first time he has been caught with marijuana. In 2010, he was caught with nearly a half pound of the drug while on the job at Rosetta Stone.
Diener's home is now the center of an investigation. Rockingham County Sheriff Bryan Hutcheson says it began after the sheriff's office received a tip from an anonymous person about illegal activity.
A search warrant WHSV obtained points out that a source with the Shenandoah Valley Electric Cooperative determined that Diener was using eight times the normal amount of electricity for his home.
"Upon conducting the search, we did find marijuana at the residence and those were the charges that we placed against that individual," said Hutcheson.
He says that lead to another discovery.
"We also found a very large volume of computer type of equipment, a computer operation. Again it was not consistent with what you would find in a residence," said Hutcheson.
That computer is now at a Drug Enforcement Agency crime lab.
"They are looking at that to determine exactly what it is, what it is all about. There's a number of things that it could possibly be," said Hutcheson.
Neighbors tell us they don't think Diener is a threat to the community.
Diener was not available for comment Friday when we attempted to interview him. His next court appearance is December 3. BITCOIN?  Bitcoin anywhere? What are the other things it could possibly be other than law enforcement bullshit artists? "They are looking at that to determine exactly what it is, what it is all about. There's a number of things that it could possibly be," said Hutcheson |
|
|
|
Sadly I think bitcoin is going to remain a bit of a niche product among a select few for quite some time as opposed to a truly mainstream product. Most people just wont see the point in using it sadly.
But we have all these companies that accept Bitcoin! Who's ever heard of a company going out of business because they don't have any customers. Pfft, never happens! LOL |
|
|
|
Might be a good idea to draw attention to the fact that AMT/Joshua Zipkin will be in Las Vegas in October for the inside bitcoins conference. It can be expected he will be there misleading people again into buying products that will ship without. http://insidebitcoins.com/las-vegas/Evidently he will be at the flamingo hotel as noted in prior posts. But at least for the exhibitor booth, be good to let people know AMT is full of crap. They will deliver without PSU's, complain, and he will make inconvenience for any support, refund, or whatever. This is what potential customers should ALL know. Since he has not made his original situation right, and brags about his ability to beat a class action. Fucking ridiculous this guy is allowed to continue walking the streets. I'd assume JZ is no longer shipping miners and has dusted his hands of this mess and called it a day? If he thinks he can walk away from this unscathed, he's got another thing coming. Why is that so hard to believe. Josh Zerlan has been at many of the conferences I've attended. He's actually a really nice guy to talk to and funny. He continues to go to conferences and has fucked over mountains of people. I think these guys understand that Bitcoin nerds are pussies by nature. They talk big online but do nothing in person. Would you be afraid if Sheldon from Big Bang Theory was gunning for you. LOL  I think the nature of Bitcoin leads these fuckers to think they are immune from prosecution. Prosecution is a tough one. It's hard for the state to make a case against a drug dealer when the deal happened in front of them. Making a case against a white collar criminal involved in fraud where the product was in a preorder and the buyer knew it was a preorder is all but impossible. Take the case of Sonny Vleisides. He got called back to court, on probation for mail fraud and still got off with just a stern "talking to" by the judge. Good luck on seeing any real time served by any of them. More likely they will just relocate to a country without an extradition treaty. |
|
|
|
Might be a good idea to draw attention to the fact that AMT/Joshua Zipkin will be in Las Vegas in October for the inside bitcoins conference. It can be expected he will be there misleading people again into buying products that will ship without. http://insidebitcoins.com/las-vegas/Evidently he will be at the flamingo hotel as noted in prior posts. But at least for the exhibitor booth, be good to let people know AMT is full of crap. They will deliver without PSU's, complain, and he will make inconvenience for any support, refund, or whatever. This is what potential customers should ALL know. Since he has not made his original situation right, and brags about his ability to beat a class action. Fucking ridiculous this guy is allowed to continue walking the streets. I'd assume JZ is no longer shipping miners and has dusted his hands of this mess and called it a day? If he thinks he can walk away from this unscathed, he's got another thing coming. Why is that so hard to believe. Josh Zerlan has been at many of the conferences I've attended. He's actually a really nice guy to talk to and funny. He continues to go to conferences and has fucked over mountains of people. I think these guys understand that Bitcoin nerds are pussies by nature. They talk big online but do nothing in person. Would you be afraid if Sheldon from Big Bang Theory was gunning for you. LOL |
|
|
|
|
Show Posts
