I'm increasing the price to BTC 1.29. I'm slowly but surely to run out of stock and want to slow selling a bit.
how are the chances for a 5btc coin follow-up batch? how high is the insurance agains loss? I don't currently plan to sell anything but the 1 BTC or 0.5 BTC coins. I currently buy insurance for value of €100 per 1-BTC coin. There is one case where a letter with 3 coins went missing. I sent them Jan 10th and insured the shipment for €100. I didn't see any money yet, USPS has 3 months (!!) from the time I entered the request to "find" the letter or admit loss. That puts it at April 26th. A lot can happen to bitcoin price in 4 months. Maybe I should buy call options or something. |
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Not allowing users to place an order if they do not have the funds at the time the order is placed seems wrong to me. The order needs the funds only when it is executed, not before. Consider that Mt.Gox is there to fulfill its users' needs, not the other way around. Provided, of course, that the users pay appropriately for the service.
The user could have a combination of orders that works, even though not all orders are funded beforehand. There could be sufficient funds coming in before an order is executed. I see no need to check funding before an order is actually executed. I would not complain if they did that though. They can do what they like, as long as they don't alienate their users.
I do see a need though for a fixed base fee for transactions, like every other online broker has. If necessary, there could even be a base fee for placing an order or a punishment fee for trying to execute an unfunded order. It seems that Mt.Gox is wasting their limited computer power on lots of tiny nuisance orders. The whole bitcoin system is not designed for large numbers of tiny transactions. There is a block size limit, for example. Bitcoin is not a micro-payment system. This will become ever more obvious as bitcoin trade volume grows.
I see the need to check funding of order before they are displayed in the public order book. Unfunded order should not be in the book because they cannot be fulfilled. |
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Considering very little new blood goes to Slashdot these days, I'm not surprised. That audience went to Digg, then to Reddit. What you're seeing are the internet equivalents of the average grandparents trying to understand the latest technology. Oh, and asking you to get off their lawn.
so true. |
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 500 is also a round number. and around 30 will then be the re-test of previous breakout. Therefore sell at 500, put buy orders near 30 and then ride it to the moon! *puts sell at 450 and buy at 32* |
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Is this religiously motivated somehow? What's with all the "being a servant"?
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I'm still not sure what to make of this. If I understand correctly verification is necessary only to withdraw money and to deposit more than $50,000. I doubt these 8000 people want to really deposit more than 50,000. Maybe these are mainly people who want to be able to withdraw fiat? |
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The stats on sourceforge show Cyprus down near 50th with a negligible percentage of downloads. Not what you would expect if there was serious amount of investment going on. However, the last weekly count for Cyprus, 149 downloads, is greater than 50% of the monthly count, so there is *some* increase in interest recently. http://sourceforge.net/projects/bitcoin/files/Bitcoin/stats/mapIt would be cool to see these numbers normalized to population. Cyprus has a population of less than 900,000. You wouldn't expect it to be close in number of downloads to Korea (50 million people), but it is. Journalists exaggerate and sometimes even make stuff up. I guess in this case you could say it's just exaggeration. |
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make no mistake... this is a revolution
Isn't REVOLUTION == CATASTROPHE? One word in Greek, the other in Latin... "Catastrophe" means "complete failure". Depending on what fails completely it can be good or bad. I like this definition of revolution: A revolution (from the Latin revolutio, "a turn around") is a fundamental change in power or organizational structures that takes place in a relatively short period of time.
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Does anyone else enjoy the eerie quiet?
It is Easter, so a little quiet is to be expected. It's at best a enhanced weekend dip, in Asia we don't celebrate the Easter, so our attack should still continue. question is: will it spill over to mtGox? I guess arbitrageurs will have a hard time moving fiat to mtGox and buffers are only that big. I'd be surprised to see anything explosive to the upside before tuesday (no matter what chinese or any other market does).. actually wednesday more likely. But when the rocket fires that next stage... it'll shake the world who will watch in disbelief. Suppose that some Chinese/Korean tycoons made up the idea to buy, Gox would be the only place with enough liquidity I guess. My favourite scenario would be some bears who are ignorant about world cultural geography setting up walls, reckoning that there wouldn't be much buying during the Easter holiday, then gets gobbled up in a minute. hehe. I'd love to see that happen. |
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Are there any statistics available for Localbitcoins? i am interested in knowing how many trades, how much BTC/GBP and whether it is buy's or sell's are happening in my locale (UK).
hey taxman, FUCK OFF! EDIT: :-) |
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Read your linked post. I think you're disregarding one-time cost of the asic miner unit. With asic the one-time cost is the large factor, energy cost less so. At least for now. So I'm guessing energy used for mining should be considerably less than $2 to $3 million when rate is at $1000/BTC. |
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Does anyone else enjoy the eerie quiet?
It is Easter, so a little quiet is to be expected. It's at best a enhanced weekend dip, in Asia we don't celebrate the Easter, so our attack should still continue. question is: will it spill over to mtGox? I guess arbitrageurs will have a hard time moving fiat to mtGox and buffers are only that big. I'd be surprised to see anything explosive to the upside before tuesday (no matter what chinese or any other market does).. actually wednesday more likely. But when the rocket fires that next stage... it'll shake the world who will watch in disbelief. |
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so it you! The eyes... they are... ...my GOD!  |
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1 BTC should get closer to 1000$, for parity with Mark Zuckenberg
If bitcoin gets to $1000, soon, all the miners together will burn trough $2 to $3 million in electricity every day, so you would need $2 or more millions in fresh money every day, just to keep the price of Bitcoin at the same level. Who will put that kind of money on the exchanges every day, Zuckenberg himself? how did you arrive at that figure? |
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Just this week, 3 co-worker (on 50 employee) came up asking me about bitcoins. They know I love/know about it because I'm wearing BTC T-Shirts at work. I was glad, for the first time, folks I did'nt told them about (ok, my T-Shirt talks) ask me about Bitcoin  This made my day ! I've answered short answer like : "Bitcoin is a new currency and paiment system all-in-one, no fees, as fast as debit cards, and not controled by anyone. Within a few years, we will be able to pay for our food with bitcoins. Better know about it sooner than later, google it !"  Bitcoin is about to deliver, the baby is comming to the world ooouuuh! and it's beaAAUUUTifulll, a gift of god! So innocent and pure. What will happen to the creature in his lifetime? |
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My friends are intrigued by Bitcoin, but consider it too risky as an investment.
After explaining the advantages of Bitcoin, I tell them this. This is like buying Google stock three years after their first IPO. Yes, it is risky. Yes, you've missed a tremendous run up, but there is probably still a long ways to go. It doesn't require a huge investment. $1000 is enough. If Bitcoin fails, you're out $1000 at most. But if the price keeps going up by a factor of 7 each year, you're a millionaire in 4 years. Can they really afford NOT to take the risk? David Morgan says something like: Most people don't buy at the low. They stand on the sidelines for a long time until they decide to get in, at which point a good part of the move has already happened". Thing is: with Bitcoin the move could potentially be so massive that it doesn't matter, regarding your personal well-being, wether you buy for one or ten thousand. That's probably just the difference between a good life and a very good life with a bad conscience. |
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Sent 2.468 BTC to OP for two coins  tx: c8fc943dbab52eca7b1bce306335ae499324e1a95caa87826d6a92e57699eb85 Cant wait to get em! I want another 3 please I would probably find your shipping info, but it can't hurt to PM it again. |
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I'm introducing special 5% rebate for recurring customers (people who have received at least on coin from me). This will not automatically apply, you have to ask for it  . |
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Thanks for summing up what I have been feeling for such along time Molecular.
glad to have spoken your soul. |
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