Would that be enough for the average Somalian to make the switch?
Perhaps since Western Union, nor any other bank-related entity associated with the western world will serve Somalia then the choice has already been made for the "average Somalian". Those who provide hawala could add exchange of Bitcoin to their repertoire and make more profit from that method, since there is no need to split the commissions with any other party. |
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I'm interested in starting a conversation about bitcoins in emerging markets. Don't have deep pockets but there has to be a better way for people to send money internationally without high costs. This is definitely worth exploring and speaking with people already making Bitcoin available in places like Argentina.
I just read this: A startup called artaBit, is attempting to take on Western Union in the money-transfer business, using Bitcoin as the transport currency between countries, with a focus on sub-$1,000 transfers to Southeast Asia. The artaBit system would accept user deposits in one currency, transfer it to Bitcoin for the overseas trip, then convert those Bitcoins into whatever other currency is needed on the other end of the transaction. Co-founder Ayoub Naciri believes the company can offer the service at rates as low as 3%, easily beating Western Union’s flat-rate service charges, which can range as high as 30%, he says, on small transactions.
“We’re removing exposure to Bitcoin to the customer,” Naciri said. “Neither the sender nor the receiver needs to know about Bitcoin or even be aware of its existence to use the service. We don’t want to have the barrier of having to explain to people what Bitcoin is.” - http://finance.yahoo.com/blogs/the-exchange/future-bitcoin-202631430.html - http://www.artabit.com <-- Indonesian language only |
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This dude is like the Energizer Bunny of scammers. Update, latest incarnation: - bitcoinarr.com The e-mail address for that PayPal account: pay@bitcoinarr.comStill going! Update, latest incarnation: - emocoe.com The e-mail address for that PayPal account: bbbfunding@live.comPrevious scams (in chronological order) likely by the same scammer: - EasZPay.com - MtGax.com - MtGix.com - i4Dollars.com - BTKoin.com - BitcoinTalks.com - VirWex.com - bitcoin.appee.com - silkroadtor.com - mtgox.us - bitswing.com - bitcoinarr.com Please report this scammer for phishing: - http://www.google.com/safebrowsing/report_phish/?url=http://emocoe.com |
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I couldn't care less that my credit union doesn't have any branches outside of my state. They refund all ATM fees anyway.
Many credit unions participate in a network so you could use most any other credit union's ATM as well. I had a credit union that used the Co-Op network so was near a fee-free ATM nearly all the time. I don't now if IAFCU gives refunds for ATM fees, but I see their network, CU24, is huge -- about a dozen ATMs within a two mile radius of where I am right now. They say it against their rules.
I doubt they block everyone transferring to Mt. Gox, BITSTAMP, etc., so they probably considered the Pareto principle where possibly 80% of the dollars being sent are from just 20% of the customers and to shut those down. Perhaps their highly paid compliance people do this so that they can argue why their salaries and bonuses are justified (make some arbitrary rule that is easy to enforce, enforce it, and then pat yourself on the back for a job well done even though there was no valid reason for it ... buying bitcoins isn't a crime.) |
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From a post on the BitInstant support thread: The site still shows VouchX as one of the destinations for "Transfer". I thought VouchX was done for. Is this simply a site error, or has VouchX been revived from the dead?
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The site still shows VouchX as one of the destinations for "Transfer". I thought VouchX was done for. Is this simply a site error, or has VouchX been revived from the dead?
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Re-occurring billing:
Only way I think it can be done is with a software solution that allows a user to deposit Bitcoins to the account. When the account gets low the software emails the user reminding them to refill it.
Hosting providers, VPN services, any re-occurring subscription based service needs something like this.
Coinbase now enables subscription authorizations: - http://blog.coinbase.com/post/50530790639/coinbase-launches-subscription-paymentsSo essentially by subscribing I am authorizing the merchant to pull $N USD (or ฿N BTC) per-month (or per-day, whatever) from my Coinbase account. I just need to make sure I have sufficient funds in my Coinbase account when the merchant submits the payment request. |
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This would allow the wristband to be reused at future events, even with a different merchant.
I can't help but think that there's a place for RFID wristbands in providing a wallet that is both convenient and provides financial privacy. Here's Kashmir Hill's article on Disney using RFID wristbands:  - http://www.forbes.com/sites/kashmirhill/2013/01/08/its-an-easily-tracked-world-after-all-disney-parks-are-getting-rfid-enabled-magicbands/ - http://disneyparks.disney.go.com/blog/2013/01/taking-the-disney-guest-experience-to-the-next-levelOf course, those from Disney are not providing financial privacy but quite the opposite -- full personally identifiable tracking. From just a little research on these, I've learned that the advantage of using these bands to the event operator is that they are a faster payment method than cash or card, and there is much less pilfering than occurs with cash transactions (which, with events that hire local, temporary help has been an issue in the past). One advantage to the user is the ability to convert cash brought to the event into value stored on the wristband and then not have to carry any other electronics or cash (which would require a wallet, purse, side pack, etc.) Here's one approach (if financial privacy isn't a factor): Coinbase, a hybrid E-Wallet, now has "subscriptions". This is essentially a pre-authorization (authorization for future spending). So then let's say I am going to Coachella music festival. I sign up on their site and it sends me to a Coinbase login where I am asked to authorize a subscription allowing $100 per-day of charges against my Coachella wristband. I don't actually need to have $100 worth of BTC in my account when authorizing this, I am simply giving Coachella my permission to pull up to $100 a day for purchases. So I then click authorize and later on the wristband from Coachella arrives in the mail. I confirm that I received it so that it can be used at Coachella. Now I just make sure I have a sufficient amount of BTC funds at Coinbase and I can go to the event. I don't need to bring an ID, smartphone, wallet, etc., ... I just wear my RFID wristband that Coachella sent to me. If I lose the wristband, then if I have my smartphone I can then cancel the subscription or else I can notify Coachella who then will block any further purchase attempts for that wristband (there are protections available to prevent griefers from cancelling other people's wristbands, like asking the amount of the authorization, or amounts of previous purchases maybe, etc.) Adding more funds to a wristband (or getting a new wristband after losing one) will require bitcoins (at coinbase, or in some other wallet), or cash or good friends, so a wristband doesn't solve every problem for everyone. But the above approach requires this subscription capability from a Coinbase or other E-Wallet provider -- and the event operator then knows my Coinbase e-mail address from my purchase. What is interesting is the ability for the RFID code to simply be just one of keys for a multi-factor transaction authentication. Perhaps instead of using a subscription service would be to take advantage of Bitcoin's ability to require M-of-N keys, or some solution using Shamir's secret sharing service from Vitalik Buterin's btckeysplit tool perhaps. The RFID code, being a static value, is something that is vulnerable to a replay attack and that limits its usefulness. A TOTP code, like a Yubikey wristband, might be more useful but then it is no longer a $4 device. The problem being solved is that today these wristbands work fantastically as a "wallet" for events, but they are not offered at many events (as a wallet). Presumably this is for the same reason as any other financial innovation gets blocked ... regulatory capture of the payments industry through money transmitter laws. But Bitcoin provides a path where this concept (wristband wallets) could become used. Thoughts? |
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Which would be better, Euro's got damned expensive last week at over 0.018 BTC each, or BTC got a lot cheaper at 55 EUR each?
It all depends on what you consider as your base currency. I tried switching my mindset to using Bitcoin as my base currency and all I did was confuse people like when I asked if I could sell to them some of my dollars. Here was a comment on that: If you think of bitcoins as being your base currency, then this weekend's dip trade resulted in a gain on an investment held just over the weekend.
But I'm debating on whether or not to phrase the trade using the right terms. Instead of saying I was selling coins on Thursday what I should have said was that I was buying dollars.
Then today, I sold those dollars and as a result of that trade I got back about 5% more bitcoins versus the amount I had spent on Thursday. Thus using the term "5% gain on the weekend dip trade' is the correct way to phrase it.
It gets confusing switching back and forth on what is referred to as the base currency though.
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Well, some forward progress. SEC Clears Way for Entrepreneurs to Tweet, Blog About Unregistered Shares - http://online.wsj.com/article/SB10001424127887324694904578597691543313894.htmlNext on deck: The Financial Industry Regulatory Authority, a Wall Street regulator funded by private-sector financial firms, is also expected to weigh in this week. It will begin to consider rules allowing so-called equity-crowdfunding websites to help entrepreneurs sell unregistered shares in their companies to any investors, regardless of their net worth, another key provision of the JOBS Act. |
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They are changing SWIFT code How was this communicated to you? When does the change go into effect? |
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remarkable that with difficulty increase on 22.63%, network hash rate dropped from 213 trh to 199trh
Where is this "network hash rate" number you are using coming from? |
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Is there a method for contacting support securely?
e-mail, unless encrypted, is not secure. Does ICBit support have a GPG key for messages?
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when you are holding positions that compete with people who can create unlimited contracts and who can see the details of your positions, including available bitcoin. Again, this is a Help & FAQ and not the place for a discussion on your topic. I'll no longer be posting here in response to your assertions. I have continued the conversation here though: - http://bitcointalk.org/index.php?topic=50817.msg2703939#msg2703939 |
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