What if you do this and put in a low tx fee ?
Same thing that happens if you put in a low tx fee using a bitcoin wallet. |
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Unfortunately as the overall supply of new coins diminishes, nobody would want to do that, as other parties would probably buy and hold. In conclusion, we might always have to pay a large premium when shuffling large amounts of fiat through btc., be it because of fluctuation or uncertainty in price or due to costs related to the circumvention of money laundering regulations. The question is: will that be cheapter than what we do today? How much is not having to trust anybody in the middle worth?
I don't quite understand your thinking. Why not just use Bitcoin as money? |
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It is different this time! Yes and no. The ability to transfer arbitrary amounts of currency to anyone on the planet quickly and without prior restraint is a new capability humans have never experienced before. There is a large pent up demand for this capability. Of course the same rules of supply and demand apply to Bitcoin as much as they apply to anything else. We will have to see about the "arbitrary". If if want to convert 1Mio$ to BTC send it over and my friend on the other side wants to convert it back to $, what would happen to the Market? High volatility, trading bots possibly eating way more than the transaction fee and so forth. We need somebody to pump way more liquidity in before this can get to be useful on a larger scale.That's exactly what's happening. |
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Got one shiny coin in the mail today. Much obliged.  That was rather quick! Thanks for posting. It's been a pleasure doing business with you. |
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Umm.. sorry to disturb, but:
why was it gold, that you are denominating bitcoin in? Why not silver, or stocks, or RE?
cypherdoc, the creator of this thread sold most of his metal (correct me if I'm wrong) in 2011 swapping it for bitcoins. He has been "propagandizing" that bitcoin would outperform gold and has substantial (in my mind) arguments. Some of them are contained in this article: http://web.archive.org/web/20120403154846/http://bitcoinmedia.com/bitcoin-vs-metalsI think cyperhdoc had mostly gold and less other metals. That probably answers the question? |
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I predict a correction in the first derivative; we might only see $65 today  lol, dude! |
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 THA FUCK! |
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 150k Holy fuck! |
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Most of the wall at $50 was removed...
MOST!? That was a HUGE drop! The ask just evaporated ~10k bitcoins in size! what? just when I thought I could go to sleep  |
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I can see it now a bitcoin worth 2 pieces of silver....mateys!
Yes, order yours from the link below. For the special deal in post #50, free shipping in EU. Also order your Casascius 1 BTC coin (worth about 2 oz silver) from link below Your Casascius coins are worth 2.15 coins in silver... so I think I will stick to the one that I already ordered. It's debatable how much a casascius is "worth". You'll have a hard time finding a 2012 one (casascius ran out and doesn't make more) for below 1.17 (2 oz of your silver offer). But not to split hairs... also the invitation to buy a casascius was not meant to be directed at you, sorry to be ambiguous. I'm quite happy with my order volume and am about to run out. |
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This is sick.
Please someone let know cypriots that is why Bitcoin exists, I think this will learn the lesson very, very fast.
Problem is: you can't get fiat out of cypress. It's easy getting bitcoins in, but hard getting the fiat back out. So who's going to sell them Bitcoins? |
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I can see it now a bitcoin worth 2 pieces of silver....mateys!
Yes, order yours from the link below. For the special deal in post #50, free shipping in EU. Also order your Casascius 1 BTC coin (worth about 2 oz silver) from link below |
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WE WANT TO GIVE OUT SOME MAPLE LEAFS AT SPOT PRICE,  , INCLUDING SHIPPING. I can't get over the fact that 1 Casascius = 2 Silver Eagles. It's amazing. I didn't think we'd get there this quickly. |
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Now they are saying Bitcoin is a pump-n-dump scheme owned by Max Keiser.
Lol. Other people say Max Keiser is Satoshi and Bitcoin can't be a world currency because there only will be 21 million of them and there are 7 billion people on earth... how the hell should that work. Some people should read and think first, then talk. |
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hey charlie, let's go have a drink or two. I'll pay for blow and hookers...
seriously though... just use a brainwallet for this kind of stuff, then pretend the key is on the ring. Brain is more valuable than finger.
it's all PR I guess... good PR.
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F--k should have some c$$h in btce or bitstamp. Oh wait, the reason there is none is that I committed it all when the reddit news came at $47.50. Ok, can go to sleep now  *remembers your post from last night about everyone being commited and touting the horn to 50 couldn't be bullish* :-) Seems you joined the crowd. That was quick. Welcome. |
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New all time high: 49.7
I don't expect this to last a lot, 50$ is coming
well, there are respectable walls to overcome. They don't seem afraid. |
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Given the "trust no one, everything is a scam" attitude on this forum, it's surprising that post was given any credence at all.
it was on reddit, not here |
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All the action so far has been in the f-en Mt.Gox. Bitstamp is doing just fine at $47.6 when I last checked.
weird. why are the arbitrageurs not doing their work? |
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