Economics is not a science.

It is a religion.

Without people being paid in Bitcoin we will forever be in the mindset of "buying bitcoins". At some point we will need to transition from buying bitcoins to buying fiat for the few things Bitcoin does not provide.

I am not, and would not think of, doing this alone as a business. I am in IT, just to apply yuo need someone with CPA or banking experience as the director and the members elect a board. I can help facilitate but cannot do it on my own, there would need to be community support of 500 to 3000 people showing an interest.

The main focus would be on the ACH to access the Electronic Payments Network which allows a "depository institution" as defined in § 19(b) of the Federal Reserve Act, 12 U.S.C. § 461(b), this includes "insured credit unions".

“Federal credit union” means a cooperative association organized in accordance with the provisions of this chapter for the purpose of promoting thrift among its members and creating a source of credit for provident or productive purposes;

The term “insured credit union” means any credit union the member accounts of which are insured in accordance with the provisions of subchapter II of the Federal Credit Union Act.

For a credit union maintaining less than $50 million in deposits it is not too difficult to maintain insurance on users accounts. Especially since the Bitcoin credit union would never hold any fiat in accounts. It would immediately transfer any funds into bitcoins or to another bank account for deposit.

The credit union is necessary to get a routing number to be used for direct deposit.

I gave away .01 bitcoin for people to sign up on my website and verify their username on bitcointalk. I found that there are several people on bitcointalk who created accounts specifically to verify themselves to get free coins.

Plus just about everyone who signed up never logged in again.

The way MIT did it might work, focusing on a small community that would be smart enough to use Bitcoin and contribute to it.

The creators of South Park are libertarians. They would likely support it.

I agree, it would not make sense to use an exchange. Working either with a bitcoin debit card company or directly with high volume miners would allow for getting exchange rates without the overhead of the exchange.

Considering the amount and time would be fairly consistent it would be easier to negotiate ("Our current fiat amount is $385,000 every Friday increasing at an average rate of 5% per month.."). Might even be able to negotiate a rate better than exchanges to cover the minimal costs of operation.

Working with debit card companies will make it much easier...most of a credit union's costs come from offering fiat services. Holding zero balances would cut out most of the cost.

Nice, I am still working on US to Germany for myself via bank accounts but have started with localbitcoins for now. Your brother could possibly get an extra 10% or so if he uses localbitcoins and there is demand near him.

The thing is, I see potential once I get it automated because I work with a lot of people in the same boat as me complaining about the bite the banks take on getting their dollars to euros. Hundreds of people making six figure incomes. People will be willing to check out this Bitcoin thing if I show them they can save money each paycheck using it.

As someone in the US who just went through the housing bubble 5 years ago here is what happened.

The interest rate was so low that when calculating how much you can afford for a house per month you were more willing to pay more for a house because the monthly bill would not be as much. Also all of the housing prices were rising so you figured that if you paid a little bit more you could get your dream house and sell it down the road for double making a buttload, more than you could working. All of the prices were going way up, people were buying several homes figuring that if they could have a few houses they could rent them out and get the income while also being able to sell at a huge profit. As they bought one home and the value went up they would finance from the equity in that home as the price went up...this created more demand and higher prices. The prices went up the most in cities where new construction was not possible, in cities that could expand the rate did not climb as much because new home companies were popping up houses to try to meet demand.

Then the bubble popped. Triggered by the AIG, bank crash.

The people that were in the process of acquiring new properties were usually stretched very thin money wise because they were putting everything they had into the next house. That next house would not sell/rent so they would be stuck on a property that was losing them money. They would try to dump that house but nobody would buy. Housing prices started dropping quickly. People who were renting started seeing these cheap houses that they could not afford previously and started breaking their leases and bought cheaper houses. People who were into real estate would have a bunch of empty homes with no income, they would end up being mortgaged up to their eyeballs and needed to drop their homes so they would sell on a short sale. There were an increasing amount of foreclosures on the market making people who were buying homes look for extremely cheap deals (I was talking to a guy in my town that bought a nice house on the Gulf or Mexico for $60,000).

For me personally, I bought a house in San Antonio as the bubble was building for $130k but the prices weren't as high in San Antonio because there was room to expand housing and new homes were going up all over. Then the bubble hit, I moved to Florida because of my job and rented a house there. I tried to sell my house but could not find a buyer so I put it up for rent and was fortunate to get a renter to cover the mortgage. After a few months in Florida seeing the housing prices dropping I found a great house on the Gulf for $290k, it had been appraised for $600k two years before. So we broke our lease (had to pay a few thousand to get out of the lease) and bought the house. I was finally able to sell my house in San Antonio for $118k, fortunate to be down only $12k compared to other people. The guy that sold me the Florida house had houses all over the place, he went bankrupt and ended up getting a divorce and moving in with his grandmother. He had a million dollar home with several other nice homes as well, none of them sold, one the bank just tore down and turned into an empty lot, another still sits there an empty shell because he could not finish the interior. He had a really nice yacht, everything...it all came tumbling down. Shortly after I bought for $290k the zillow price eventually wound down to about $170 at its lowest point. Not it is back up to around $230k. I will likely sell in a few years, hopefully close to what I paid for it.

Although I would love for it to be higher, I predict the price on January 1, 2015 will be $350.

What is the maximum amount of dogcoins there will ever be?

Don't they spit out like 10 billion dog coins per hour?

Simpsons did it.

Or just buy a power plant.

A pool was created specifically for this.

It helps when planning something like this to know that people actually have the funds. BitPools helps with that.

http://www.bitpools.com/?Bitcoin%20Cruise

Earth is #1!!!

Earth! Earth! Earth!

Woohoo!!!

Everyone living on Earth is the best, everyone else is bad! Go Earth!

If you're not with us, you're against us!

Green and blue...these colors don't run.

Crony capitalism? Capitalism between friends?

Using this site you can model some of thing aspects of the market that you believe will take place and get a price from there.

http://worldbitcoinnetwork.com/BitcoinPriceModel-Alpha.html

Based on the model, what price do you think we will be at in one year?

You use that term freedom...I do not think you understand what it is.

I'm not really bitching...just pointing out that all of the problems people complain about tend to revolve around the fiat world of bitcoin. Which is not really a bitcoin problem.