Combine that with today's release of the FATF recommendations though and there is news today: From the glossary: Funds:
The term funds refers to assets of every kind, whether corporeal or incorporeal, tangible or intangible, movable or immovable, however acquired, and legal documents or instruments in any form, including electronic or digital, evidencing title to, or interest in, such assets.
Money or value Money or value transfer services (MVTS):
Refers to financial services that involve transfer service the acceptance of cash, cheques, other monetary instruments or other stores of value and the payment of a corresponding sum in cash or other form to a beneficiary by means of a communication, message, transfer, or through a clearing network to which the MVTS provider belongs.
Transactions performed by such services can involve one or more intermediaries and a final payment to a third party, and may include any new payment methods.
Sometimes these services have ties to particular geographic regions and are described using a variety of specific terms, including hawala, hundi, and fei-chen.
Then: 14. Money or value transfer services
Countries should take measures to ensure that natural or legal persons that provide money or value transfer services (MVTS) are licensed or registered, and subject to effective systems for monitoring and ensuring compliance with the relevant measures called for in the FATF Recommendations. Countries should take action to identify natural or legal persons that carry out MVTS without a license or registration, and to apply appropriate sanctions. 15. New technologies
Countries and financial institutions should identify and assess the money laundering or terrorist financing risks that may arise in relation to (a) the development of new products and new business practices, including new delivery mechanisms, and (b) the use of new or developing technologies for both new and pre-existing products. In the case of financial institutions, such a risk assessment should take place prior to the launch of the new products, business practices or the use of new or developing technologies. They should take appropriate measures to manage and mitigate those risks. - http://www.fatf-gafi.org/document/17/0,3746,en_32250379_32236920_49656209_1_1_1_1,00.html - http://www.fatf-gafi.org/dataoecd/49/29/49684543.pdf |
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My question is, if I want to receive payment from someone, can I give them one of the wallet addresses from my piece of paper which I have never used or entered into blockchain? If they send a payment, will I be able to input the wallet/key details at some point in the future and the bitcoins will be identified and show up? From what I understand I believe this to be correct, but please help me out with some piece of mind  That is correct. This might help explain it with a little more clarity: - http://en.bitcoin.it/wiki/FAQ#What_happens_when_someone_sends_me_a_bitcoin_but_my_computer_is_powered_off.3FAlso, how on earth does the website search through what must be millions of bitcoins so quickly to identify which ones belong to your wallet?
Just like a retailer doesn't care whose $20 bill you use to pay for your purchase, Bitcoin doesn't care who "spends" the coins. All that is needed to spend a coin is the coin's private key. If you keep those keys secure, then you are assured that only you can spend your coins. As far as the bitcoin client (or the My Wallet from http://BlockChain.info/wallet ) being able to quickly show the balance for the addresses in a wallet well, there's a lot going on underneath to make that possible but fortunately we are getting closer to where Bitcoin can be used without having to be a techie. |
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I'm looking for a way to buy sell regular stocks and precious metals using Bitcoin. Note that I do not want to own the stock or PM, just to speculate.
What are some suggestions on how to achieve this?
In which jurisdiction are you describing this to be offered? In the U.S., of course, brokering the sale of securities (stocks and stock options) is a regulated activity. There are today no brokers known that are accepting bitcoins as funds for use in trading. That doesn't mean there isn't that activity occurring just that you won't see it offered publicly. And let's say, hypothetically, a person were to do the trading through his own account for investments made by that person's family members. That person would be the one getting the 1099 tax return (dividends, and proceeds from sales), so that can really make a mess and be costly. [Update: a few links - http://www.businessdictionary.com/definition/nominee-shareholder.html - http://www.fatf-gafi.org/document/0/0,3746,en_32250379_32237202_46706112_1_1_1_1,00.html ] |
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what's your price per KWH in USD?
The Electricity pricing Wikipedia article http://en.wikipedia.org/wiki/Electricity_pricing#Global_electricity_price_comparison shows the price per kWh in over two dozen countries. The top three of those where electricity is the cheapest are Spain, Canada and Finland, each of which show electricity under $0.07 US per kWh. Germany, the Netherlands, Italy and Denmark are at the end of that list with electric rates over $0.30 US per kWh. Though the U.S. average is now a little over $0.10 US per kWh, according to a U.S. Department of Energy monthly report http://www.eia.gov/electricity/monthly/excel/epmxlfile5_3.xls , the residential average is $0.12 US. On the high end, excluding areas outside the contiguous U.S., are the Northeast states of New York, Connecticut and New Jersey with rates approaching $0.20 US. On the low end are the Pacific Northwest states Washington and Idaho which are under $0.09 US. As a rule of thumb, commercial rates can be calculated as being about 90% that of residental, though the report provides specific rates for each state. |
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Yes, the one with most of my btc will be in a truecrypt directory, which I won't have to access too often.
The other will be a daily use wallet with a small amount of funds.
To keep the wallet.dat protected, consider a symlink to the wallet.dat in the mounted directory (if on Linux) |
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Is there any issues I should be aware of in doing this? "Be careful you don't do *this* or you will lose everything!" kinda thing...
Just to clarify, you are describing two completely separate wallets, right? i.e., not hoping to copy the wallet and use that for the second instance. |
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1)I can get bitcoins even if my wallet is not on sync? (i doubt that since i dun saw even a micro  ) See this: - http://en.bitcoin.it/wiki/FAQ#What_happens_when_someone_sends_me_a_bitcoin_but_my_computer_is_powered_off.3F2)Every time i open it , it will need to sync all over again? Yes, new blocks occur about once every ten minutes, so your client will download any blocks it is missing so that it has all the blocks. 3)How much it have to download? Seems a lot for me and my C partition have not so much space =/ The storage for the blockchain data files is now over a gigabyte and growing. The client allows an alternate data directory to be used (--datadir= https://en.bitcoin.it/wiki/Running_Bitcoin ) if the default storage location (e.g., C: partition on Windows) is not going to be large enough. Additionally, there are other clients (e.g., Electrum ) which work differently and don't use a full local blockchain. |
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What do you think? Encryption-protected paper wallets, excellent! |
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Is there a possibilty to deactivate this function? I believe you are asking to specify the address for the "change" to land at. The only A client that I'm aware of that lets you choose the address where the change should land at is My Wallet from http://BlockChain.info/wallet (which is a Javascript wallet accessed from a browser) A workaround is, using the bitcoin-qt client, to make more than one transaction. So you would send a 10 BTC payment and then click "add recipient" to send the 40 BTC (or 39.9995 to account if paying a 0.0005 fee) right back to the address that you would be sending from. [Update: A client that sends the change back to an input address is MultiBit -- see jim618's response below.] |
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What other online marketplaces are there for bitcoins?
US based?
Well, Get-Bitcoin is a U.S.-based exchange for buying and selling bitcoins. Cash in the mail to buy bitcoins is one method even. - http://www.get-bitcoin.comCamp BX is another U.S.-based exchange: - http://www.campbx.com - http://en.bitcoin.it/wiki/Buying_bitcoinsIf instead you are asking about marketplaces other than exchanges between dollars and bitcoins, the Trade page on the Bitcoin wiki lists merchants who accept bitcoin as payment and lists other sites where bitcoins are used in commerce: - http://en.bitcoin.it/wiki/Trade |
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Sorry for double post, but when you sell a giftcard, do you have to mail it? Or can you just give them the code on the back of the card
As SgtSpike mentioned, some cards can be spent online. But with the prepaid card trading services listed in the link I gave most will want the card to be mailed in. One service offers the ability to bring the card to an agent who will redeem it: - http://www.swapagift.com (agent locations in much of the U.S. / e.g., at check cashing stores) |
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Site now shows "Site temporarily unavailable."
Is that truly temporary or is Bitcoin2Cash no longer operating as an exchange?
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