The main way you are going to get burned would be non-payment. There wouldn't be anything to rate. Maybe I don't understand what you mean though.
I don't know if You are referring to him or to me, but to be clear, i was wondering if is it possible to create crypto-"trust coins" that can be distributed using anonymous network similiar way as BitCoins are. Oh, a similar different network, not a thing attached to this one. You mean the coins themselves would be generated by people's claims of trust? If you think about it regular bitcoin is a little bit like that but for all 'value' instead of merely 'trust'. If someone has bitcoins it means they supported the network and/or did something for someone else who did or are trusted by them. Even if you made a system intended for indicating trust only people could use it for trade and now it would represent trust and value anyway. In conclusion, I think we are already implementing your idea. If not, maybe you could highlight what could be different. |
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I wasn't saying that I don't trust Kiba to give a record of the correspondance, I just meant I hadn't followed carefully and didn't realize that they didn't even give a "Thanks, we'll check it out" response, or even a stock "We got your email" message.
I'd say they rejected the donation. (Probably because they are busy eating and drinking with politicians.)
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The main way you are going to get burned would be non-payment. There wouldn't be anything to rate. Maybe I don't understand what you mean though.
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We will have to solve these problems if bitcoin is to be accepted widely.
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Perhaps the next step is to ask if they have access to the account or need help.
You could ask them if they would like to receive more bitcoin? Thus leading to the question if they will put up a donation box.
So there has been no verification that the funds were even received? |
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One time I heard that some people used dollars for money laundering. I expected that would be the end of the dollar, still waiting...
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I'd be willing to buy the coins you will eventually generate right now at below market rates. 2000BTC on Christmas (date negotiable) for $100 right now? Will you generate or receive donations for plenty more than that?
Hmmm, that's an interesting concept... I don't really like futures negotiation, it's not in my culture if you will. But the thing that I wonder about is how to actually control that, I mean, I know I'm honest but if between now and Xmas I don't generate a single coin (unlikely but still a statistical possibility) what would happen then? I'm doing this because it's a lot of fun for me, I love the challenge, and I'm not trying to cut any profit, but while it is really hard to establish an honest reputation it takes little more that a little misunderstanding to be stuck with a dishonest one. I'm open to such an agreement but only under the understanding that things may go sideways, I may have to stop working on this (though I already have a good part of the work done and disclosed) and I'm not going to take this as some kind of contract binding me to do this by a set date... And as for generation, yes I hope to generate much more, based on my current stats. Donations I expect at least 10 times what I got so far with the CUDA code I've provided, which roughly adds up to... 0.0000  That is why I'm trying to sell the coins, man. I'll take the lottery site as collateral. I'd honor all tickets and deposits of course. Hmm, Nelisky has 2000 to unload, and the pick6 is 2100.... j/k... The graphics card code isn't valuable tome directly or I'd just give you a prepayment for it+support. It's hot here so I'm not going to set up a generating plant. ;-) |
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I'd be willing to buy the coins you will eventually generate right now at below market rates. 2000BTC on Christmas (date negotiable) for $100 right now? Will you generate or receive donations for plenty more than that?
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This is yet another sign of bad practice. Requesting people to do only smaller transactions creates even less value as the transaction costs (time, mailing, etc.) are way to high.
Stop bothering us with your improper business model.
The cost of a few extra stamps is outweighed by the risk associated with sending large amounts of cash in the mail. Nobody is forcing you to read my posts. If I'm bothering you then stop reading. Seriously S3052, if you don't like it or it bores you then do something else. I'm going to give it a try when I get around to getting a stamp and envelope. |
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It's weird to worry about hoarding. No one can hoard your coins, and why do you care what they do with theirs? What is the right amount of time to hold a coin?
People keep saying "hoarding", try using "saving" and then explain why it's so terrible.
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That's all right for some material goods like food or electronics. If I see that something is sold for 10x less price than usual I'll doubt buying it. There should be a catch somewhere. But the money is always money, it's impossible to falsify bitcoins and if you bought them you own the real coins without any catches. I also doubt anybody will buy BTC for $0.06 if you can buy the same (I mean valid) coin on the same market for $0.006. There is NO reason to pay more if you get the good real bitcoin.
Again: we're not talking about the profit of that owner. Maybe he have no plans of using BTC at all, he just generated a bunch of them because he has lots of energy and processing power and wants to crush the market. He can do it and everybody will help him buying coins for that little. From him, not from others who want to sell for regular price. It's just psychology. How long will YOU hold bitcoins if their rate would go close to zero? Won't you sell it for any price just to get at least some money back? You may own 1000 BTC now and intend to buy some goods or services for them. But tomorrow they will cost like 10 BTC now and suddenly you can't buy anything. Will you wait for the rate grow? That guy have lots of BTC and can sell them many months.
Do you often think about whether some idiot you don't know will buy a lot of something and sell it for less? Or make it for one a high price and sell it low? Sure someone could do it, but it would help people who want bitcoins and hurt himself. It's just charity, to me, and others. |
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Do you mean if someone tries to buy a LOT btcs prices will rise: Clearly: YES
Do you mean if someone will sell a whole LOT btc prices will fall: YES
That's obvious. But I mean that someone can beat all bids with lower value and completely prevent everybody from exchanging BTC to USD or any other currency. He can drive the rate as he wants and others are left with two possibilities: either they sell with even less price (losing LOTS of money because they either generated that BTC spending time and power or they bought them) or leaving them as is and hoping for the rate rising. Both variants are bad. And he can press the market very long just watching how many bitcoins asked and bidding them with 10x lower price so everybody will play by his rules. This is strange language to use. No one will have to "play by his rules" if they want to pay the old price for BTC they are welcome to. If they want to get a better deal they can buy from him. If they have BTC and want to sell them and assumed they could always sell them above the price where they bought or generated them, they simply made a mistake. If someone tries to sell BTC at .01 and you want to pay .06, just gimme a PM. |
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You mean because you'd be taking her to the optometrist?
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He's offering a good deal in order to establish a good reputation at which point he can charge a premium. Also he can keep stocked on the cheap if anyone wants/needs to get cash in the mail for their bitcoins. 200BTC/1$ does seem extreme though. I'd be interested to know if you get any takers on that. As does Sell: For every 200 bitcoins sent to 1CRZpkKKAt7G5uiK4JPBjBJGnozgiatFAs you will receive $1.00 USD in cash by mail. considering: $0.0639 each for BTC200 ($12.78) at bcm:pp. Total amount for BTC200 is $12.78 Where are you located. I'll buy them.
However, I suspect you're trying to move the market with zero coins. This is a possibility. Perhaps they are trying to shape the market with this service, however, I am certain that since it requires mailing monies, that it will not succeed as well as mtgox or bitcoin market which use Internet-based monies and do not require any snail mailing. Snail mailing has pros and cons. This will not result in a tight market, but it will bring in some very privacy conscious people and those who cannot use PayPal, etc. |
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If we want to get the word out we might have to advertise. I suggest an advertising campaign on one of the large libertarian shows such as free talk live. I actually heard one of the saturday co-hosts mention bitcoin live on air not long ago think it was 26 sep . A script would need to be agreed on that explains bitcoin to the masses .
Advertisement is for corn syrup and diet pills. We need someone who is knowledgeable and can speak well get an interview on freedomainradio or another liberty podcast. It's too narrow a topic, and dull. A thirty second spot late on Fox Business would be big, but that costs money. And if anyone does something like this, I'm going to need to have more bitcoin to sell on Mtgox. Well, if the person could also talk about agorism and the internet and p2p stuff it could be a good interview. It doesn't have to be a whole show, but it could certainly be more than 30 seconds. It took me a week to get my wife to understand the basics. Heh, maybe that just means I shouldn't do it. |
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I haven't seen it yet but I'd really like to see a reputation site where people's opinions can be ranked. So, for instance, Alice can say that Bob is a good guy, and that she value's Bob's judgement highly. Giving him a 10 out of 10 on both. Bob feels that Carl is a good guy, giving him a 10 as well. if Bob is the only opinion that Alice has placed any trust in then she'll also give Carl a 10. Meanwhile if she has ranked Donna as a 5 on her judgement scale, and Donna gives Carl a 0 (calling him a thief) then Alice's ranking of Carl is going to be 6.6 (since she values Donna's judgement half as much as she does Bob's) This would weed out people ranking themselves, since none of their many accounts would be highly valued by anyone else.
Maybe it could be even more complicated  Since Bob having a positive encounter or several with Carl only means that Bob doesn't know he's a thief, not that he knows that he isn't, maybe positive and negative ratings shouldn't be simply averaged. You could rank each of your trusted friends ranking abilities according to how likely they are to give false negatives (think they were stolen from, but weren't) and false positives (actually believing that the laptop got water damage in the mail). This way if a very trusting/optimistic friend made an accusation it could be given a lot of weight. |
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Just curious, why not use mtgox? You can sell 25k on there right now for more than .04
It is unlikely bitcoin2cash will establish a positive reputation from their efforts in this manner. Cash by mail could possibly become "lost" and therefore create profit for bitcoin2cash. Only a percentage of the incoming funds need to be "lost" in order to generate profit. e.g. the first us $1.00 sent to them will supposedly trigger bitcoin2cash to send 25btc. However, current market indicates: $0.06195 each for BTC25 ($1.54875) at mtg. Total cost for BTC25 is $1.54875 Therefore, in order for bitcoin2cash to afford sending 25btc, they will require at least $2.00 which will then produce an estimated $0.45 worth of profit. Therefore, one of the two "$1.00" payments received will be claimed as lost. I would claim it as lost if I were pursuing same scheme. He's offering a good deal in order to establish a good reputation at which point he can charge a premium. Also he can keep stocked on the cheap if anyone wants/needs to get cash in the mail for their bitcoins. 200BTC/1$ does seem extreme though. I'd be interested to know if you get any takers on that. |
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If we want to get the word out we might have to advertise. I suggest an advertising campaign on one of the large libertarian shows such as free talk live. I actually heard one of the saturday co-hosts mention bitcoin live on air not long ago think it was 26 sep . A script would need to be agreed on that explains bitcoin to the masses .
Advertisement is for corn syrup and diet pills. We need someone who is knowledgeable and can speak well get an interview on freedomainradio or another liberty podcast. |
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Seriously,
2. make them attractive as an alternative investment (this does not appear to happen)
Only bad investors are more interested because something costs more. Is corn a better buy at twice the price? APPL? silver? a heater? Bitcoin is as good an investment as it'll ever be right now imo. It looks like site developers and coders are serious and able, but coins are still very cheap compared to say, the size of the whole economy. |
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