0.01 BTC per SMS
Is this being offered primarily to serve those who cannot just receive an e-mail at their mobile phone's e-mail address (which gets delivered as a text message)? e.g., 3456789012@tmomail.net for T-Mobile? Or is this a different alert? |
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Busy couple of days ... 2012-03-08 "Doug Casey on Cashless Societies" Don't get me started on "money laundering." It's a completely artificial crime. It wasn't even heard of 20 years ago, because the "crime" didn't exist. Now, everyone speaks of it as though it were a real crime, like murder. It's ridiculous, and further proof of the totally degraded state of the average person worldwide, absolutely including US citizens – what we used to call Americans. The government proclaims something as a law, and "sheeple" robotically assume it's part of the cosmic firmament. If an official tells them to do or not to do something, they roll over on their backs like whipped dogs and wet themselves out of fear. The War on Drugs may be where "money laundering" originated as a crime, but today it has a lot more to do with something infinitely more important to the state: the War on Tax Evasion. But the greater the invasion of privacy, the greater the need for privacy there will be – and the market will respond. - http://www.proactiveinvestors.com/columns/casey-research/928/doug-casey-on-cashless-societies-0928.html |
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extremely wealthy to have a true global currency since at least the early 1900's
I doubt a decentralized Bitcoin was what they had in mind. Hard to extract an advantage (read interchange fees / payment network fees) when you are competing with a (nearly) free alternative, especially one that is not debt-based. |
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if it should prove as disruptive as some people hope
Bitcoin would still be useful even if there was only 1,000 BTC in circulation. Or 1.0 BTC, for that matter, as Bitcoin currency is divisible to eight decimal points. It might be slightly less useful if it couldn't be divided further, but it would still be useful. If the rich entity were to then simply destroy these coins (and it was verifiable that the coins were truly destroyed) then the exchange rate would stabilize and Bitcoin could continue being used. In that scenario we'ld have to get used to referencing prices in satoshis (0.00000001 BTC) and not BTCs themselves though. If the rich entity were to start selling the coins instead of destroying them and was to put them back into circulation there could be disruption. That could cause exchange rate volatility or price inflation even, depending on the rate they were reintroduced and the demand for them. So yes, bitcoin is vulnerable to a rich entity hell-bent on causing grief to the currency. But doing so would take an enormous amount of money ... and spending $2 to save $1 isn't a rational economic decision. I can't see any justification for taxpayer money being used to do this and I certainly can't see any corporation explaining to its shareholders why this was the best use of their funds either. That a bitcoin is worth as much as the cost to produce / mine it is just a proxy value - you can't use a bitcoin to get back that amount of energy / computation power - it's all backwards.
Unlike gold mining or production of other commodities, the cost to produce a new bitcoin rises and falls -- it will equilibrate with whatever the market value is for that bitcoin (as difficulty follows price), and not the other way around. In that sense, you are correct -- Bitcoin is backwards. It does break the rules. Isn't it a novel concept! |
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I'm planning on shipping everything through USPS. USA only for right now. Where are you located? |
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I mean if it's anonymous how can the government know how much we truly make?
Each transaction is logged (either in your local wallet or in your online wallet). You just need to report it properly, and then the government will know exactly how much you truly made. I'm purposely being obtuse with my response there. Of course, you are likely asking if bitcoin use gives the tax authority less information that is useful in enforcing tax regulations. That is likely true compared to businesses that use checking accounts and credit card transactions for most everything. From a tax preparation service: "Income tax regulations place the burden of proof on the taxpayer. Because of this, to prepare your tax return, you need to keep accurate records that support the income, expenses and credits you report. Generally, these are the same records you use to monitor your business or track your personal finances.
If you operate a business, your records must be available for inspection by the IRS or other tax authority. If the IRS examines any of your tax returns, you may be asked to explain the items reported. A complete set of records will speed up the examination."
- http://www.jacksonhewitt.com/Resource-Center/Tax-Topics/Record-Keeping/Many businesses are cash-based businesses so Bitcoin doesn't introduce a significant issue that the tax authorities aren't already addressing. Here's a related article in the Bitcoin wiki: - http://en.bitcoin.it/wiki/Tax_compliance |
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So... I talked with them about bitcoins, they say they might consider adding it as a payment option,
There is a first mover advantage. The first to offer hosted online e-commerce (along the lines of what Shopify, BigCommerce, Volusion, etc. offer) will attract some e-commerce site customers simply because there are no alternatives. they are skeptic about market size.
Have them survey prospects. Are there many e-commerce sites that: - Would like to sell internationally? - Would like to be able to sell without getting defrauded through chargebacks? - Feel they are paying too much to the payment processor? Whomever is the first to serve this market with a decent solution is going to do well. |
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Looks like someone bought a ticket after the deadline. So once that is returned, looks like there were about 450 tickets sold. Incidentally, reading the article about the PowerBall Lottery I saw this: "Powerball retailers in Rhode Island get eight cents on the dollar for every ticket sold [from Rhode Island]." - http://news.yahoo.com/336-4m-powerball-winner-newport-ri-woman-81-160939430.htmlEight percent of the ticket sales (in R.I. at least) goes straight to the convenience store or wherever you bought the ticket. OUCH! I don't know the exact payout but have seen something to the effect of payouts being in the 70% range. Compare this to BitLotto at 99% payout. Then the jackpot, based on ticket sales, was $336.4 million but the winner wants a lump sum (at 81 years old, wise choice!) so that drops it to $210 million. The state of Rhode Island got an additional $14.7 million on the income taxes on the prize that are subtracted before the winner sees the money. Now I know some of the profits from state-run lotteries go to good uses but at 70% or whatever payouts exist for wagering in those lotteries they've never interested me. |
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- A customer send us their vouchers (MtGox / Bitcoinica).
- We send the funds through the Visa/Mastercard/Discovery etc network to them instantly.
- The user receives their funds as a "Credit" (similar to when a merchant issues a refund to your card) on their debit card in about 2 to 4 business days.
We can send to any card in the world, in any currency. We will be able to send natively in either USD or EUR. If you live for example in the UK and your card is denominated in GBP, the card issuer will automatically convert the funds for you.
What is also really cool about this is that if your card is linked to your bank account (such as a debit card for your bank account) the funds will be credited in your bank account automatically.
Reverse credit card transactions and person-to-person transfers where the sender needs only to know the recipient's credit card number.. I've read about these and wondered how long before a bitcoin -> credit card payment service would arrive. If this works as you describe it could be the biggest development affecting Bitcoin for 1Q 2012. |
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Price including shipping is 30BTC (US only please).
Shipping is probably going to chew up a chunk of that. If the buyer is local, would this be something that could be picked up in-person for less? |
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Great news!
I'ld love to know if there were any metrics that can be shared. e.g., how many wallet URLs (funded at least once, or had funded balance before the pending shutdown announcement).
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I've been trying to withdraw funds from a walletbit account for the past 12 hours and I keep getting the same error message..
2. An error occurred in the transaction, please stand by
I know I have the secure code right and have never had issues withdrawing from walletbit before. Has anyone else been having this trouble or can anyone from the site explain the issue?
Others are reporting problems with WalletBit as well: - http://bitcointalk.org/index.php?topic=66882.0 |
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It appears that an important new feature offered was overlooked as well. You can withdraw funds from AurumXChange with funds from a Bitcoinica code.
Specifically:
- Wire Transfer (USD, EUR, GBP)
- AurumXChange MasterCard (Load / Reload)
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BitcoinSpinner uses private app storage, which is wiped at uninstall. However, this also has the nice feature that other apps cannot get to it, which is paramount. Another nice thing is that BitcoinSpinner only needs network access privileges. This lets you know that it does not try to snag your address book or keys from other apps using SD card storage.
In the Linode security breach trust given to their proprietary infrastructure was violated and bitcoins were stolen. I'm wondering if there is a similar vulnerability with a mobile platform. I read in the Android how-to for publishing an app that only an app signed with your private release key will get pushed out as an update. What if, however, your system used for building was compromised and an attacker were to get your private release keys to build a rogue update (that stole bitcoin private keys). If that roge release were published to the marketplace nobody would likely notice a problem until after the attacker already would have a lot of private keys! If I were storing an amount of bitcoins worth worrying about, I might then want a way to disable the automatic update of this app. Is that possible? Also, might there be an announcement here for when you publish, maybe signed with your PGP key, which includes a signature for the release to be published to the Android Market? I know this sounds paranoid, but crazier things have happened before, right? |
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