Thank you captain obvious I was, however responding to this quote:


By 'street', I assume he didnt mean El Chapo's driveway, nor the streets of Kunduz, Afghanistan

Looks like this thread is in the wrong section? I don't see any speculation going on in here 

On topic, there's hasn't been a free way to convert BTC into straight cash, and there also has never been an instant way either.

http://www.huffingtonpost.com/2011/06/27/how-much-is-cocaine_n_883853.html#s297564&title=Greece_104_per

Click on the image to see street prices for various countries. US is listed as $120 per gram. Thats $120K per Kg.
I dont use let alone deal cocaine, but if someone can get me 1KG for $15K, I might be interested

There's one selling for about 2 BTC (equivalent) here: http://cheshirehorse.com/Buggy-Whip-P6374.aspx

I wonder how that compares to the inflation-adjusted buggy-whip price in 1900...

Germany is doing poorly? I thought they were the ones who were going to bail everyone else out...

Will these 700,000 new location be taking your BTC and giving you cash, or only the other way around?

700,000 new locations selling a maximum total of 21,000,000 = 30 coins per store being ABSOLUTE MAXIMUM amount that could be sold ever.

The demand is going to outweigh the supply... and fast.

+1 bitcent

Well, the idea would be that I'd provide the service to be completely above-board and transparent. The more reliable the service, the more likely people would use it, and if it did get popular we'd issue more shares and buy more silver.


No, I absolutely would not, sorry if you were interested in this. I disagree with this practice when it is done with SLV and other commodity ETFs in the US stock exchanges.

In fact, the seed money used to start this fund will probably come from my sale of my SLV stock which I believe I am finally done with due to their short-selling. Selling what you do not have is deriving value where there is none and is an affront to good sensibility. I cannot imagine loaning stock in silver to someone who I am not certain can pay me back tomorrow, especially if the price were to double or triple. Worse still, even if I were do this of my own accord, this still puts a financial obligation on my own name and net worth, one which I may not be able to fulfill.

The housing crisis has shown us the irrationality of the market. There is something that the Black-Scholes equation does not properly account for called Kurtosis risk, or, if you have heard of it, the "Black Swan" effect. If you do not know what that is, I'll try to explain it here.

Basically, tomorrow everyone could decide to go to their local coin dealer and buy every single silver coin and the price of silver would go from $30 to possibly some unbelievably high number, like $3000/ounce. It is VERY unlikely such a thing would ever happen, but it *could* happen, and that is what Kurtosis risk is, the idea that not only could something go outside of reasonably risk levels, but that it could do so in a major way and in a very short period of time.

One of the examples that I like to use of Kurtosis risk is an experiment in which they asked several professional gamblers to imagine they go into a casino and sit down at a roulette table. They each witness, before their very eyes, the ball land on 0 ten times in a row, meaning neither red nor black bets get paid. Now a rational and logical person, knowing all the odds of the game should never bet 0 on an 11th spin is more likely than the 1 in 37 chance, but every professional gambler said the likelihood was higher than 1 in 37. When asked why, the answer these professional gamblers gave came down to, "How do they know the system isn't rigged, or maybe something is wrong with the wheel that makes it land on 0 more often?" In other words, the circumstances around the situation were so extreme, that it was now likely all logical and rational analysis is risky.

The "Black Swan" reference comes from a book that explains Western Europeans used to have a phrase very similar to "when pigs fly" called "like a black swan". The problem was that around 1790 they did end up finding black swans in Australia. This went to show that there are "known knowns", such that there are species of pig we've identified. There are "known unknowns", such that there may be species of pigs that we may have not yet identified. And finally, there are "unknown unknowns", such that there may be species of pigs that we know so little about, we can't really say with any degree of certainty that "pigs cannot fly".

Sorry I spent so much time on this post, but I wanted to be thorough in explanation. I'm sorry if not providing a short silver ETF upsets anyone, but I cannot make short sale predictions due to Kurtosis risk.

I don't know if I can own my own stock on GLSBE, but if so, I might actually do this on my own so that any increase in the value of silver from here on up doesn't get hit with as big of a cap gains tax. I'm already looking at a tax on the %167 increase I have in SLV right now and I'm not really looking forward to it.

Happening right now at the Future of Money conference. Virtual Currencies discussion panel. Guy on the left is Philip Rosedale (creator of Second Life), then Jered Kenna (Tradehill), then Eric Chan (moderator), then Charlie Shrem (BitInstant), then Rebecca Watson (of RadiumOne).

So Bitcoin takes 2 of the 5 speaking spots for the Virtual Currencies panel. You may remember that Ben Milne was supposed to be on this panel as well, but he dropped out of the entire event at the last minute (wonder why?).


https://p.twimg.com/ArMbnbaCEAADQyq.jpg:large

Yes.   Because it uses forum gold instead of actual money, it makes it harder to switch to another site due to the network effect.

this was really weird. rally from $5.20 to $5.50, then retrace back to $5.20? Looks more like a bubble than a rally. perhaps echo bubble 4. sideways with a slow grind up due to buying pressure seems the most likely near-future forecast.

I found this: http://www.nationalach.com/ but I don't have the time to research them so if someone else wants to and then post their findings I'd appreciate it.

Start here: http://www.nationalach.com/secure-vault-2/no-chargeback-merchant-account/

i loled, but it is soo true for so many non-greeks too    i tried to tell some gold bugs about bitcoin and there were like, if you cant hold it you don't own it!

I'm sitting on bitcoins. Lots of bitcoins. Maybe more bitcoins than most.

I would use these bitcoins for purchases... oh what purchases I would make with these bitcoins of mine...

VERILY I SAY! OH THE SHEER VOLUME OF TRANSACTIONS I WOULD MAKE...

... if the currency were more mature.


I try though, I really do. When I sell things on craigslist I tip my hat to bitcoins, and some people actually email me and inquire about them. I've yet to actually buy or sell anything with bitcoins through that medium though.

Honestly the only thing I've ever bought with  bitcoins is the yubi key for my Mt. Gox account, and I don't think that counts.

I mean, I'd love to buy things off Newegg with bitcoins... that would be super sweet, and I've emailed them about it. But to be fair to them and other large businesses, there is just too much risk, and bitcoins are still volatile. People are going to sit on their coin's till it gets sticky. Thats going to take another 4-8 years. Its not so terribly long if you think about it.

Until then Bitcoins will slowly gain momentum as infrastructure is built and software and features mature until like the breaking of a great wave it hits the mainstream as if from nowhere and people will wish -like I wished- they had heard about bitcoin sooner.

So why was it that he decided to delete that original post? Please enlighten us with that information if you know.


Are you not "ignorant about certain aspects of certain stuff" or do you know everything there is to know about every topic? Maybe I should click on the highlighted "ignore" link below your name, psytard. (Yes, I read up on you in the alt currency forum.)

Jinxed! 

Showing on both sides now and then.
With all the bull pheromones in the air, I wouldnt be suprised if the starfish would show on the buy button permanently soon.