There must be a very good reason why all of a sudden they decided to give people refunds.


Don't ya wish you knew?

 


Hehhehehehheheheheheh

No honest company with good intentions denies refunds when the customer hasn't received what they paid for.

Pimco's chief operating officer is bearish on major currencies, expressing the fund's preference for emerging markets, particularly the ruble and renminbi

The near-term outlook for the US dollar and the euro remains bleak, but emerging market currencies - particularly the Russian ruble and Chinese renminbi - have structural advantages, according to a senior official at Pimco.

Speaking in the keynote address at the FX Week USA conference in New York this morning, Doug Hodge, chief operating officer of Pimco, delivered a sobering assessment of the weaknesses blighting traditional reserve currencies, pointing out the value of the dollar on a trade-weighted basis had declined ever since 2001, while the introduction of the euro in 2002 changed the way central banks manage their reserves.

"As they accumulated the euro, the US dollar declined from roughly 73% [of global reserve currency holdings] down to 62%. We have seen a secular decline in the trade-weighted value of the dollar ever since," Hodge explained. "In the past couple of years, as the value of the euro has declined through the eurozone debt crisis, other currencies, most notably the Canadian and Australian dollars and some emerging market currencies, have begun to replace the euro as a reserve currency. Here at Pimco, we believe this will be the secular trend of the future and it will impact the US dollar, euro and the other established reserve currencies."

Pimco's expectations for Japan are no better, Hodge explained, noting that even though the quantitative easing (QE) programme initiated by the US Federal Reserve over the past four years has led to the central bank holding approximately 30% of all outstanding US Treasury bonds - and is currently buying close to 80% of all new issues - the counterpart Japanese QE programme is between three and four times larger than the US initiative, which has contributed to a 13% decline in the value of the yen, a depreciation the fund expects to continue.

Pimco is far more bullish on the growth prospects offered by both Russian and Chinese currencies, with the latter occupying a disproportionately small segment of global forex markets, relative to the size and potential of China's burgeoning economy.

"The Russian ruble is interesting, and this is one of the currencies in the emerging markets category we think will continue to grow. Russia has some very positive dynamics, the debt dynamics have been improving over recent years, while Russian growth has inched on of late. They are on a path to institutionalise and globalise their currency and we are seeing the trade volumes increase consistently, so this is a currency we are very favourable on," said Hodge.

"China is the same story," he added. "The Chinese have always instituted very tight currency controls but they are starting to loosen some of the regulations. While China is the world's second largest economy and largest exporter, it is only the thirteenth most traded currency in the world, accounting for 1% of all transactions, so there is ample scope for the Chinese to continue to globalise their currency, which we believe they will - albeit on a very measured time frame."

Why did you choose Mexico?

Unfortunately TH is very sluggish in this - I tried to make a deal with btceic and another member with no success...
If KnC succeeds along with Bitfury and maybe AMC and/or labcoin, I don't think I will look again back at TH...
That's why customers need variety of choices - then totally unacceptable and unproffesional behaviors like these are harshly punished!

The Mercury is the cheapest device you can buy ($1995). They added it after the poll ended.

This is a good idea ... I think you should include Satoshi's whitepaper as the first (foundation) article in your inaugural issue ... it hasn't been published in another journal afaik, except on the web obviously.

Bitcoin is a beautifully transparent market.  All transactions are in the public domain.  So last night I put together a chart of the USD market price of Bitcoins vs. "Days Destroyed" which is a measurement of Bitcoin monetary velocity.  Here is the definition of Days Destroyed from blockchain.info:
 
Bitcoin Days Destroyed is a measure of the transaction volume of Bitcoin. If someone has 100 BTC that they received a week ago and they spend it then 700 bitcoin days have been destroyed. If they take those 100BTC and send them to several addresses and then spend them then although the total transaction volume could be arbitrarily large the number of bitcoin days destroyed is still 700.
 
The chart is interesting because it shows velocity tracking the USD exchange rate during the recent spike, however, now velocity and price are 180 degrees out of sync.  

Here's my interpretation of this:

During the spike up, volume increased in a rush to trade in and out of Bitcoin.  During the spike down, volume crashed as trading interest in Bitcoin diminished, and perhaps as exchanges such as mtgox were threatened and blocked by governments.

More recently, volume goes up when the price goes down. These are the weak hands exiting Bitcoin.  As soon as the volume of weak hands starts to dry up, the price stabilizes and goes up for a while, then the weak hands begin to sell again, volume picks up, and the price heads down.  This looks like accumulation, with strong hands waiting for the weak hands to cough up Bitcoins.  

Note that the Bitcoin open source community is moving in the direction of limiting small transactions.  This move will slow down the growth of the Bitcoin database and make the whole system more sustainable.    Bitcoin will become a validation system for larger and larger "reserve" transactions.  Various systems that hold Bitcoins in reserve will facilitate small transactions.   So what do I expect to see with Bitcoin: lower and lower volume on higher and higher price.    Looks like that trend has begun.

WASHINGTON - Nineteen US organizations filed suit Tuesday against the National Security Agency claiming their constitutional rights were violated by the secret spy agency's data collection programs.

The Electronic Frontier Foundation filed the action on behalf of a variety of groups including the First Unitarian Church of Los Angeles, the gun rights group Calguns Foundation, Greenpeace and Human Rights Watch.

The suit filed in California federal court alleges that the mass collection of phone records under the so-called PRISM program violates Americans' constitutional rights.

"Our case seeks to apply the right of association in the digital age," said EFF attorney Cindy Cohn.

Cohn said the suit, based on a longstanding Supreme Court ruling, contends the government's collection of "metadata" or information on calls placed, without the content of the conversation, allows the government to monitor who is associating with various groups.