I've started using BTC for my daily purchases since Gyft started selling Wholefoods/Target cards for bitcoin. Tigerdirect for my computer needs. Etc,etc.
The drawback is that my Creditcard provided a nice usage report with graphs and all, I understand that they have also been selling my buying patterns to third parties but that is not the main point.
I've effectively lost that very convenient part of my daily purchases, is there any tool that could help me categorize (automatically or manually) my daily expenses, think quicken for BTC.
Any suggestions?
Do you need professional accounting software for business use, or just a nice looking stats for personal use? If latter, bitcoin protocol itself won't provide you with charts etc. Don't know if any wallets/3rd parties do, but if that's important to you, you can just label every spending and create/analyse stats by yourself (Excell spreadsheet) as often as you need (once a week, month etc). It's really not that difficult nor time consuming.
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But lower is the price of Bitcoin, less is worth getting attacked.
Imagine you're the powerful miner interested only in profit. Suddenly the BTC price drops significantly. You switched off your miner to avoid generating losses. So did the other 'professional' miners. Now, if you have enough power, you can just switch it back on and attempt a massive double-spend. Doesn't matter if the bitcoin is only $100 if you could double spend thousands. Threat is real and possible. Luckily not very likely. Lower the hash rate = lower difficulty, so it becomes more profitable again, therefore miners would be switching back on again.
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That makes total sense, when mining costs exceed your income it's better to shut down your miners. Strangely miners didn't seem to react to price swings before. Hashrate and diff was constantly growing, while price was going up and down. Although it might have just been a case of power failure in some big mining farm
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You are right bitcoin in general needs to grow. Any mishaps and unfortunate events like the one you mentioned can happen. We have consulted with our tax lawyers before opening the exchange. As we are only providing a medium for our customers to sell their digital assets for pkr while being a broker. KYC rules are being followed. We do verify all customers against NADRA database. This is my personal account. And I used it to post here becuase it was not a new account. There are many scams so we people to think that look a new user was created just for a scam. We are new we are learning and hopefully we will get it right.
OK, thanks for clarifying. It's just irritating to see some of the 'established' businesses with a happy-go-lucky approach to legal requirements (ie BitStamp), then if something goes wrong it affects all bitcoin community. Hope everything goes well for you. Best of luck.
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Some 'external' reviews: https://www.commonsensemedia.org/movie-reviews/the-rise-and-rise-of-bitcoin : Parents need to know that The Rise and Rise of Bitcoin explores the various ways that Bitcoin, a form of open-source digital currency, can be used. The movie covers topics like the potential advantages of Bitcoin and the currency's ability to grow within the global economy, as well as some of the controversy surrounding the role that Bitcoin plays in the Silk Road, often referred to as the Bitcoin black market. Plenty of recognizable brands are mentioned during the documentary, like WordPress and Reddit (two of the first websites to accept Bitcoin as a form of payment), plus references to older forms of Internet technology like Netscape, Napster, and an early version of America Online. There are a few uses of "s--t," as well as scenes of people drinking and smoking in social settings. A drug dealer referred to as "Mr. Bitcoin" is shown with marijuana and using the Silk Road at an Internet cafe. http://www.clevelandmovieblog.com/2014/10/the-rise-and-rise-of-bitcoin-opens-in.html : All it takes for a form of currency to become legal tender is for enough people to accept it. Of course that's the trick, isn't it? San Francisco eccentric Emperor Joseph Norton managed to pull it off on a small scale in the 1800s, printing his own money that local merchants treated like actual cash, but in general the only money most people value is the kind that's tied to a nation or other governmental entity. Bitcoins, a virtual form of money designed to circumvent manipulation by any central authority, just might change all that.
THE RISE AND RISE OF BITCOIN sets out to explain just what a bitcoin is, how it came to be, and why it's important. In relating the short history of this new form of currency, the film, despite its title, doesn't shy away from some of the bumps in the road to bitcoins becoming a widely accepted form of cash. Considering that history includes such potentially alarming aspects as the inventor of bitcoin operating under a fictitious name before disappearing, early usage of the currency to trade in black market goods like illegal drugs, and several drastic ups and downs in value, bitcoins have done a pretty remarkable job of moving towards mainstream acceptance, even if not everyone is convinced.
Director Nicholas Mross was inspired by his brother David, an avid bitcoin supporter and early adopter, to make this film. David is also a writer and producer on the film. Given that, it's perhaps inevitable that THE RISE AND RISE OF BITCOIN feels a bit like cheerleading at times, even with showing some of the negatives in the history of bitcoin. Not enough to invalidate the film, though, and for anyone just wondering what the heck bitcoins are and why they should care, this is as good a place to start as any. 3 out of 4 stars. http://film-forward.com/documentary/the-rise-and-rise-of-bitcoin : Even after watching this documentary, I’m not sure I completely understand how this product works. As one interviewee states, you need to use Bitcoin before you can understand it completely. In what I’m sure is a poor and incomplete description, it is virtual currency and is both globalized and decentralized. It’s transferred from peer to peer, meaning there’s no Big Brother controlling transactions. It also means there are few rules, and the film describes it as a kind of Wild West of economics, though devotees are attempting to make it more accessible.
The film features Bitcoin enthusiast Daniel Mross (Nicholas Mross, his brother, is the director). The film suggests that Bitcoin is transforming the world’s banking system as it becomes more mainstream. While the film clearly sees that it’s quickly becoming the future of currency, Mross doesn’t shy away from some of its darker aspects. Finding a fair and capable trading engine has been a continual problem for Bitcoin, and the government is still wary of its legality. Likewise, the film spends some time on the black market of drugs and other illegal items that almost immediately arose after the start of Bitcoin, known as the Silk Road.
It’s a volatile currency, as the film depicts the wild highs and lows of its value, and portrayed as a mysterious form of money, a theme that the film might have pursued further. The transactions are anonymous for one thing, but its creator, Satoshi Nakamoto, is completely unknown. There is no evidence of that name in existence before Bitcoin, and he has since disappeared and no longer has any involvement. The mystery involving its creator puts its legitimacy into question, and while the filmmakers bring this up, a more in-depth exploration of Nakamoto’s true identity might have made for a more enthralling examination.
Mross, a family man from Pittsburgh, is a passionate though not a particularly compelling guide. As a computer “nerd” turned Bitcoin miner, his devotion and faith in the currency clearly drives this documentary in a certain direction. Despite highlighting some questions, it’s apparent the film is educating its viewers about how Bitcoin will positively change the future of currency, making it more free and fair to use. It’s worth noting that distributor, Gravitas Ventures, purchased the film in Bitcoins, which has never been done before.
It stills feels early to say just where this type of technology is headed, whether it’s a fad or the future. I did, however, just Google the exchange rate of Bitcoin. At the moment it’s 294.13 to the U.S. dollar. The Rise and Rise of Bitcoin is right about one thing: Bitcoin is worth taking seriously. http://www.movies.com/movie-news/5-documentaries-from-2014-tribeca-film-festival-to-watch-for/15625 : If you're one of the hundreds of millions who still don't know exactly what bitcoin is, even if you've heard of it but don't know the details, this documentary by Nicholas Mross is a necessary introduction. What's great about the film is that it's not simply an informative look at the digital currency. Mross is there with miners, investors, traders, regulators, merchants and more involved with bitcoins from the beginning, having benefited by the fact that his brother was one of those on board early. And unlike a lot of docs of this sort, this one has really defined narratives for most of its characters. It's not necessarily an open and closed story, as bitcoin isn't dead, but it's pretty close. Imagine if someone had been there making a documentary on Tim Berners-Lee before the world became familiar with the World Wide Web or on Mark Zuckerberg when he was first developing Facebook. Thanks to Mross' film, which will prove to be a really valuable historical artifact one day, we'll never need the bitcoin version of The Social Network.
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To be honest I copied the terms of service from another exchange, because you don't need to reinvent the wheel ... the terms of service were good enough. I have changed it right now. Actually if a law in Pakistan texthenIndias then Indias laws will apply.
Yes, it's a common practice for small online businesses to copy T&C from similar websites, but you would expect more serious approach from the first exchange in Pakistan, or at least to get a proof read. If you're supposed to be dealing with large amounts of money/btc, you need to get everything right. I'm completely unfamiliar with regulations in Pakistan, but I know they do have their equivalent of KYC/AML. Are you absolutely sure that running such exchange is in full compliance with the law? Did you seek for a legal advice before launching? I don't want to read one day that Pakistani authorities shut down your business, got you arrested and seized X amount of BTC etc. It's important to do your homework beforehand. What security measures have you taken in storing BTC? Also, all the referral links in your sig doesn't add to your credibility. No offense, but it looks like you prefer to earn a few scraps of BTC, rather than promote your own business. And if this is the official thread, then it looks rather poor. You didn't even put your logo? You don't quite make an impression of trustworthy business imho, but hope you'll get everything sorted. A solid, legit exchange in Pakistan would be a great thing for the bitcoin as a whole.
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Is something broken? Litecoin works, but Bitcoin doesn't.
works fine for me
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I will no longer participate, I switched to PRCdice campaign, they pay a little better and allow ref links (and I'm invested there).
Thanks for everything. I'll keep playing on FortuneJack tho.
Good luck
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Count me in!
rank: senior member posts (incl this one): 430 BTC address: 1CstuTvCxadzEq3GzxTsDpB55VJJTJoScd
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That's great news, thanks for sharing. Are you related to UrduBit, is this suppose to be official thread? I'm bit concerned about legal status of this exchange, is such business 100% legit in Pakistan? Terms of Service look very basic and there's this: JURISDICTION
This user agreement shall be governed and construed in accordance with Dutch Law. The parties agree to irrevocably submit to the exclusive jurisdiction of the Courts of The Netherlands. Why Pakistani business refers to the Dutch law?
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May you put an escrow for this campaign? Escrow 5 bitcoin and many people will join in your signature campaign..
He's a trusted member + this campaign is for people who don't qualify for any 'proper' campaigns, so don't have anything to lose. No need for escrow in this case imho
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Does the affiliate system work for both BTC/DOGE or BTC only?
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Your pay is .01btc per month or 100 HUC per month. Must make at least 10 posts a month (they can be total shit.) ...
You should state that you don't accept newbies. Because if you do, someone can create dozens of new accounts, quickly make 10 total nonsense posts and take most of your campaign fund with very little effort. Out of curiosity, what's in it for you? I don't see your referral link in the sig, are you the prc dev or heavily invested?
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I've just seen it. Overall, nice to watch, somewhat educational (not about technical aspects but more about BTC history) and I would recommend it especially to new people.
Although I think that for people unfamiliar with bitcoin, it may build slightly negative picture of it. They first show sites/businesses such as silkroad, mt gox, bitinstant, tradehill and later all of them go down (with some of the owners facing jail). Someone not familiar with btc affairs could think that there are no serious bitcoin businesses left.
Throughout the movie they were showing USD price at that time, which ranged $0-$300. They only briefly mentioned that price exceeded $1000. Also, a bit shame they didn't really show the scale of adoption and acceptance, leaving impression that bitcoin never went outside the narrow circle of geek community.
That being said, I kind of appreciate they aimed rather for the honest documentary than pure bitcoin propaganda.
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In their ann they are saying the coin is aimed to who missed the Etherium sale
Of course they are. They can take your BTC and exchange for real Ether later on, or they can take your BTC and disappear. Which one is more likely? Judge yourself.
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How much was the presale value?
1 BTC = 2,000 Ether what's the price atm? There's no price atm. The initial sale is over and no one can sell you any Ether as it hasn't launched yet Is ethercoin related to this project? Nope, ethercoin is just a shitcoin, they try to capitalise on similar name.
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