Wait what? There is an Indian company doing 42 million dollars worth of bitcoin business? And they were looted?
You may be mistaking your sources.
Also, I know of no exchanges that allow funding via credit cards. Credit cards allow charge backs for as many as 180 days after transaction. An exchange has to be stupid to allow credit card transactions.
The only company who lets you buy bitcoins with credit cards seem to be btcquick.com - but they use google checkout to do the trade. Your account is tied with your google profile - which allows them to verify you and run a background check before processing your order. They may be scammed sooner or later, but they've not been scammed yet.
I agree that being cautious is good, but international wire transfers can't be reversed without the bank account holders permission. Neither can wu or moneygram orders be reversed - once you have cash in hand, they can't force you to give it back. You can safely use these 2 methods to sell bitcoins to folks without being scammed or looted.
If you have received stolen money and the authorities run an investigation - you are not liable for it unless you have been involved with the whole fraud and had known that the money you are receiving is stolen.
Not it was not a indian company doing bitcoin business. it was a indian payment processor for creditcards that was hacked and then robed. There are no exchanges that take credit cards i know of. |
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i wonder why people dont come to this forum first and look around then do the trade.
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I have 10 BTC to sell.
Can do NEFT / cheques / bank transfers.
Price: average of buysellbitco.in's buy and sell rates.
For eg: right now, their buy rate is: Rs.6495.96 and their sell rate is: Rs.5756.91.
So the rate we trade at will be the average of 2: (6495.96+5756.91)/2 which is = Rs6126.43.
Escrow: can do if you pay escrow fees. I recommend John K. for escrow.
If we use escrow, you have to make your payment to me within 12 hours of me sending the BTC to the escrow and him confirming. (This is because I've had people back out of trades if price moves a lot. I don't want to keep my BTC with an escrow agent indefinitely if a party doesn't end up sending their payment. So a short time limit is required. I hope this sounds fair to you.)
Disclaimer: I can refuse to sell to anyone I don't want to (if they seem shady or have a bad track record or for any other reason.) You making an offer on this thread or in a PM does not bind me to the sale unless I've told you I agree to the sale.
Thank you.
Sounds like a great deal +1 reasonable rates.  |
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Dude its talking about issuing currency not generating it, and its 2002 bitcoins was not even in existence, and it was not talking about decentralization of currency , it was reffering to Friedrich Hayek who was a 1950's economist who pointed out the problems of a central bank causing the great depression and this was one of the biggest motivation for him to oppose Central banks , ckz they just cut intrest rates and created artificial price fluctuation.
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Please change the subject to mtgox real time price converted to INR. This is not bitcoin's real time price in INR.
See this is the problem with pinning threads. People who I want to buy bitcoins from will now quote this link to me and won't sell at lower bitstamp rates.
Please stop pinning all threads.
Well in my view the real market price of bitcoin in india should be about 5,000 - 5,500/- if it is the market forces that is allowed to maintain prices. but people want to use a pegged price for a market that does not even function in the indian eco system. That is where they get their BTC from. Until there is a globally acknowledged system that shows the rate, Most will continue to follow Mt Gox. You are looking at mt gox as a ecosystem playing within india. but that is not the case. Mt. gox caters to the international market. that is a global eco system. but in india that is not the case the connection to Mt gox for indians is verry tough. so a local ecosystem is needed to sustain the trading in a natural manner. not an artifical inflation. let me dum it down. Here 'A' being a group of sellers 'A' buys btc as a company at mt gox rates - 'A' then sells it at 10% Mt. gox rate. Mt gox rates go up 'A' Still sells at gox +10% still earning a lot of profit . suply of btc is constant in the population Mt. gox dipps down 'A' Still has reserve btc from last purchase from gox . 'A' Will not sell .. suply of btc is cut to the population. Here the biggest problem is the drop in prices in btc creating problems, and bottlenecks. Solution :- Open free floating market rates. where in the demand and supply of bticoins determine prices. this will encourage goods and services to also adopt bitcoins because for them they will be able to unload their btc in exchange for fiat to cover expenses. |
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Please change the subject to mtgox real time price converted to INR. This is not bitcoin's real time price in INR.
See this is the problem with pinning threads. People who I want to buy bitcoins from will now quote this link to me and won't sell at lower bitstamp rates.
Please stop pinning all threads.
Well in my view the real market price of bitcoin in india should be about 5,000 - 5,500/- if it is the market forces that is allowed to maintain prices. but people want to use a pegged price for a market that does not even function in the indian eco system. |
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Subvolatil.. could you help me out.. Dont realy have a market sense. i am new to the stocks as a whole..
Well i can just advise you on what to do , i can't recommend what to buy. Just follow a few simple rules. 1. never invest every thing in one stock. 2. research the stock or bond you are buying. 3. analyse the past price fluctuation on that stock and correlate it with events that happened to that company issuing stocks. 4. never expect returns immediately. 5. Keep reserves for the rainy day . 6. dont be greedy. 7. understand market forces (demand and supply) 8. Be patience 9. dont panic if your stock goes down. 10. Dont fall for scam stocks. read up on this thread great info : https://bitcointalk.org/index.php?topic=60501 |
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in any case it is not good enough to refuse escrow, he does not have any reputation here and refusing escrow (regardless of form of his business) make him a scammer.
true about that, cant deny you point. but he did make a proposal to buy in low quantity to build trust. however He should also be in position to accept people who want to go through escrow. So inrbtcad let people go through escrow when you are currently not providing your identity. Pinwheel stop hammering the guys so much. just point out their flaws. and put up you warning. if others get scammed its the fault of the others who did not take your warning seriously. |
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I didn't want to weigh in but ....
ok Firstly Benson, this is the reason why i told you not to pin/encourage a business let businesses promote them self. businesses can always think and innovate was to provide services and promote them self.
secondly, Pinwheel right now you my be hitting the wall to hard. In india there are may ways for entities to exist, not only as a company i.e pvt. ltd. But, the Registrar of companies only deal with two types of entities a ltd. and a LLP. the later being easier to incorporate.
However an indian national is not required by law to only run a LTD. or a LLP business. It can be of any of the following kind.
1. Proprietorship (Which does not require any formal gov. registration)
2. Partnership (same as above but with a partner)
3. Hindu joint family business (same as above but a family fun business)
4. Cooperative (get together a few people an start a co-operative business like Amul.)
All the above mentioned businesses can run legally without impunity. yes some regulated businesses need membership from associations and trade unions or licences . like export and import , and some whole sale businesses.
But in no way is it requires to be a registered business.
A note to inrbtcad, i hope you do know that when referring to a business as a company, i is usually implied as a Ltd. registered company with the Registrar of companies.
I know it takes ages to register a company and getting DIN, and all the stupid formalities may take you a few months. Be honest about the incorporation there is nothing wrong in being a Proprietorship. Just make sure you dont screw people over.
Build your business on trust and honor.
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this is a share market, the prices will rise and fall. you loose money you earn money.
Looking at the value of the stocks because it halfed the value in 2 days does look bad but for some, but it is a good earning possibility for others.
one more suggestion. never invest such a huge amount when new stocks come in invest little by little. Diversify you investment. have some patience, do not panic. the more you panic the more you loose.
Remember always diversify.
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Good writeup . but move it news and press sub forum.
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move post to the market place,
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Adoption will also come when people will see profit in it and about asic, i think you misunderstood my point.
I want to say
More asic machines => difficult level will go super high => Bitcoins will be hard to mine with normal cards => New People will buy from others instead of mining coins themselves => Bitcoins per user ratio will go low* => More demand/less supply => Price go high.
Ps: It's a long process I'm not talking about instant bubble.
You are slightly wrong on your premises, the problem here is that you are trying to correlate adoption of bitcoin with profit. which is wrong. Firstly, profit is only a business driven goal. if a business sees profit in bitcoin then that business is surely meant to fail. but a business seeing bitcoin as having utility makes more sense. this being a cardinal utility. The reason why i dont see ASIC's entering the market as a problem in price fluctuation. are because of the factors that right now determine the price is not the hash rate but the overall use of bitcoin and its utility. Before hash rates can make any dent in the price system the following conditions have to be fulfilled:- 1. Services being offered should be reasonable. 2. use and adoption to the masses should be easy. 3. spending should match earnings in relation to bitcoin. 4. Bitcoin should be readily accessible to people. 5. Strong reason to use bitcoin over conventional monetary systems. All these factors are subjected again by governmental, individual, corporate control and regulation. Making it that much harder to fulfill the conditions mentioned above. If you look at the Hash rate chart of the past one year the hashrate does not correlate with the price changes in the past 6 months. https://blockchain.info/charts/hash-rate https://blockchain.info/charts/market-price |
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ASIC miners and worldwide adoption obviously. Daily thousands of new users are acquiring bitcoins now.
Soon bitcoin will be hard to mine from normal graphic cards and demand will increase.
The hash rate it self will not be the only factor driving the bitcoin prices , like empoweoqwj said until and unless services and goods dont come up for bitcoin people will have no place to spend those bitcoin, if they can spend the coins the price wont increase because the demand for bitcoin wont be that much. When demand is low the miners or hordes holding the bitcoin panic and start selling low and prices go down . Yes, that's why i said both things. "ASIC miner and worldwide adoptation" ASIC Miner is not a service, Its a bitcoin generation/(transaction verification) entity all miners are. Adoption will only come if there is a utility in the bitcoin. Utility will only come in, if there is a valid and strong reason for people to start using the coin. What is the use of bitcoin? to be used as a transaction medium for goods and services. so the underlining factor is bitcoin needs a market to function in and for companies to start and offer services and products will take time and infra structure. |
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ASIC miners and worldwide adoption obviously. Daily thousands of new users are acquiring bitcoins now.
Soon bitcoin will be hard to mine from normal graphic cards and demand will increase.
The hash rate it self will not be the only factor driving the bitcoin prices , like empoweoqwj said until and unless services and goods dont come up for bitcoin, people will have no place to spend those bitcoin. If they can't spend the coins the price wont increase because the demand for bitcoin wont be that much. When demand is low the miners or hordes holding the bitcoin panic and start selling low and prices go down . |
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Not for the next 3 years . if it does shoot up to that level, its gona be an artificial hike with some asshole fixing to crash it and sweep all you money up.
Mass adoption can also drive a price hike. Yeh but that also creates a bubble. Take into factor : lets say number of users to 1 million new users just trying it out getting used to the currency out of that 1 million users 50% will drop out within a span of 2-5 weeks ckz of the spike in the currency prices. i predict a spike of 60% when the 50 % users start to drop like flies the market again crashes ck they sell just to get out. A adoption of some thing that holds value should never spike or have massive adoption. just like the real estate market, and the IT bubble that crashed the world economy. |
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Not for the next 3 years . if it does shoot up to that level, its gona be an artificial hike with some asshole fixing to crash it and sweep all you money up.
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My post bellow was not related to new comers, it was regarding centralizing the, currency to fiat trade into a single thread or a double thread. |
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