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We will have to see about the "arbitrary". If if want to convert 1Mio$ to BTC send it over and my friend on the other side wants to convert it back to $, what would happen to the Market? That's an implementation detail, not a limitation in the Bitcoin protocol. But in any case the implementation is catching up to the capabilities of the technology every day. I'm still waiting for a sheikh (or two, the more the merry) to suck up a million coins and then guarantee to sell them at price X+5% and buy at X-5% for the next year, as long as supplies last. Would give us a great transitional phase with lots of people (arabic or not) getting into btc i guess. In a sense, that would be the ideal situation to increase adoption. Unfortunately as the overall supply of new coins diminishes, nobody would want to do that, as other parties would probably buy and hold. In conclusion, we might always have to pay a large premium when shuffling large amounts of fiat through btc., be it because of fluctuation or uncertainty in price or due to costs related to the circumvention of money laundering regulations. The question is: will that be cheapter than what we do today? How much is not having to trust anybody in the middle worth?
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It is different this time! Yes and no. The ability to transfer arbitrary amounts of currency to anyone on the planet quickly and without prior restraint is a new capability humans have never experienced before. There is a large pent up demand for this capability. Of course the same rules of supply and demand apply to Bitcoin as much as they apply to anything else. We will have to see about the "arbitrary". If if want to convert 1Mio$ to BTC send it over and my friend on the other side wants to convert it back to $, what would happen to the Market? High volatility, trading bots possibly eating way more than the transaction fee and so forth. We need somebody to pump way more liquidity in before this can get to be useful on a larger scale.
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I wanna be a luxury car dealer in Bitcoin City tomorrow. Some boy's dreams need be fulfilled.
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This stuff is funny:
Time & Sales Time Price Volume 16:43:04 55.51125 2.4839 16:42:58 57.00000 51.8681
16:50:59 55.12000 0.0200 16:50:54 56.98000 0.0840 16:50:50 53.00000 9.7761
Trading lag FTW
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Time to go back in already?
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I don't actually use this to trade you know. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Twas more for comedy. The pattern of power: Course above the 20, 20 above the 200, all pointing up. Already two green candles on M5, this is a buy signal in technical trading. So yes we can.
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I want to see a double top today! BUY BUY BUY;)
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Roughly 5k BTC at 64 would be the next resistance then.
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Guys, did you know that once upon a time people actually sold bitcoins at $31 dollars? I know, it's hard to believe.
I know all too well .. luckily got back in during the fork ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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I saw 56 ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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If you check the list, there is also mentioned which program was used to achieve the hashrates mentioned. There you should find what to try next.
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Thank you for pointing out there are +/- buttons on bitcoinity, didn't notice before.
P.S.: Parliament of Cyprus announced it will not agree to haircut affecting all bank accounts.
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Especially with an nvidia card, you will be loosing money mining whatever program you're using. Power consumption vs. bitcoins mined * price.
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Im from Poland and still wait. Mt.Gox not inform at your home page about any problems with PLN withdraws and have only copy-paste answer:
But that is answer to your question! They can't withdraw as much money from their polish account as they would like to, and it takes time.
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Do you believe Bitcoins will play an important role in carrying forward the http://en.wikipedia.org/wiki/Hawala System in the future? It seems to perfectly fit the purpose as long as there are exchanges on both sides.
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Put some playmoney on MtGox or similar and check it out. In your case I would advise to not stay in BTC for too long a time since the trading sites are not supporting stop loss orders. If you don't need any of the money in the future, of course you can risk it. However, if you feel like drawing a safety line, you have to watch the btc/usd course closely and hammer in your stop loss in case btc tanks manually. Since the fees are based on a percentage of the traded volume, you can trade with small amounts without loosing too much in fees compared to a high roller, this is different in other market places where fees might be an absolute value per order.
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Tom from Germany here. Mined some BTC some time ago, now trading back and forth ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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