LOL

We posted a response to this study on our blog:  http://blog.bitinstant.com/blog/2012/10/30/the-ecb-report-on-bitcoin-and-virtual-currencies.html

We published a thorough response to the study on our blog:  http://blog.bitinstant.com/blog/2012/10/30/the-ecb-report-on-bitcoin-and-virtual-currencies.html

I was quite happy with the ECB's study. They did a far better job than the average journalist in trying to really understand Bitcoin from a philosophical point of view. I was also very pleased that they discussed how cash is comparable in many of the risks of Bitcoin (money laundering, drugs, fraud, theft, etc). Kudos to the ECB - they did as well as a central bank could be expected to do.

We published a thorough response on our blog:  http://blog.bitinstant.com/blog/2012/10/30/the-ecb-report-on-bitcoin-and-virtual-currencies.html

9

Ahhhh got it!  Thought this was for USD -> BTC but I had it backwards.  Okay carry on

YES! This makes my day.

I encourage everyone to check the Newbies section more frequently over this next week and help them out if they have questions.

Hey all,

Most people know there is a massive storm hitting the east coast of the US over the next few days. It is likely to cause widespread power outages.



Indeed, I'll speak on behalf of BitInstant/Coinapult/Paysius/SatoshiDICE here - if you can't get a hold of us, we may be trapped in the hurricane (see photo above)! Other Bitcoiners may be similarly affected. So please be patient this week   Note that web service should be fine because our sites are not hosted locally. It's unlikely the services themselves will be interrupted, but getting a hold of us (the actual people) may be difficult through Wed.

Please pray to Satoshi for us!

This info about Roger is widely known by many of us, and Roger has no problem discussing it with people. It's an amazing anecdote of our terrible "justice" system and the harm it does routinely to good people.

It's also important to note that Roger did nothing wrong. Free individuals should be allowed to sell fireworks to each other, period.

No I meant literally how are customers paying this hypothetical company?

Your describing that the company buys coins on customers' behalf by depositing cash in a bank. But how does the customer pay the company?

LOL this!!

I'm confused on this one thing - how does this "company" get paid by its customers? I could have someone sit in a bank to make cash deposits, but who is paying the company, and by what method?

This has happened more than normal during the past few days since there have been so many winners it drew down the site's wallet which results in more "snags".  So the good news for you all is that you're kicking the site's ass in terms of winnings recently

Great work Kris.

One recommendation: the Checkout buttons should not say "Checkout with Walletbit". They should say, "Checkout with Bitcoin". 

One might imagine how many people will arrive on a site, looking to pay with Bitcoin, but as they don't know what Walletbit is they go with credit cards. "Bitcoin" is the payment brand that needs to be promoted both for the good of Bitcoin's ecosystem and for the good of the customer doing the shopping. Having "Walletbit" on the checkout button does not benefit the customer because most people who are able/willing to pay with Bitcoin do not use Walletbit today.

Make sense?

You learn all about advanced security practices, SHA-256, and brain wallets to completely eliminate counter-party risk, and then invest in a fund promising 7% returns per week 

7

Hopefully everyone realizes that it will take numerous Bitcoin companies working numerous shows over months and years to build the reputation that Bitcoin needs. Fortunately, there are many amazing people who are ideologically (and financially) motivated to do this all over the world. At first it is an uphill battle for us... and eventually it will be an uphill battle for them.

I encourage everyone to keep designing, building, experimenting, networking, and making connections in all the myriad ways that have been occurring over the past year or so.

It's working.

Also this is pretty awesome... so before our presentation this morning here in Phoenix, the moderator of the talks came up to us and said, "hey you guys are AWESOME, I'm a BIG fan of Bitcoin. I have to pretend to be impartial but you guys are already my favorites."

The audience is right now voting for the winner of these presentations. There were about 10 who presented... I'm really hoping we win!  I mean come on, we just sent $20k across the pacific ocean from China instantly with no fees and sent it to a mobile phone on stage.

Actually this was not at the Aria.

Charlie/Roger/Me did Money2020 Conference on Monday (at the Aria in Vegas) and then Charlie and I flew Monday night to Phoenix for ATM & Prepaid debit conference. Today (Tuesday) we gave our presentation here in Phoenix and did the $20,000k transfer stunt with the help of our friend Yifu

Since we had to leave Money2020 two days early, we flew Ira to represent us there last night and Jesse Powell and Julian Tosh are also there to help (and Mr. Micon came by to say hello yesterday, very cool to meet him). So we've got both huge conferences covered with Bitcoin propaganda this week

SatoshiDICE is about to hit 1,000,000 BTC paid out.  You could be the one to do it!!