I want one that ain't limited  to 21 mill . Who says you can't do a, "stock split" with bitcoin? It already splits automatically because of its divisibility. |
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There are many millions of dollars invested in support of bitcoin. You can always invest millions of dollars to create a competing currency for bitcoin. Or, maybe it would be cheaper to buy bitcoins.
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An obvious smear campaign which I actually don't mind because it buys me more time to acquire more bitcoin at these prices.  |
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have you considered selling smaller bars (like grams)?
evolve, I have. The problem is that the the spreads between the "bid" and "ask" are so wide that it becomes a losing deal for the person that buys them. Example: a 1 gram gold bar sells for about $75 and only fetches about $49 when you go to sell it back to a dealer. This means your gold has to appreciate by 50% just to break even! When you get to 1 ounce gold bars and 1 ounce silver bars/rounds the spread is only about 5% to 10% between the "bid" and "ask" so you get a much better deal when you need to liquidate. For smaller purchases I recommend 1 oz silver rounds as the best value. We're starting to see 1/2 ounce silver rounds coming to the market but I'm monitoring the spreads closely to see if they would be an attractive alternative at some point. For now, though, silver is under $40 per ounce and it is not too large of an investment for someone who wants to start setting a little aside as they can afford it. Trader Steve |
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Seems a bit steep considering gold is ~$1400/oz and 100 BTC is ~$1600.
Spot gold is actually $1,487 +/- at the moment of this posting. Physical bullion typically costs more than the spot market because you are buying in much smaller quantities (futures contracts are for 100 oz). The only way you get spot price is if you buy in quantity on the COMEX - and that price does not include shipping, insurance, and storage. Search any major bullion dealer on the web and you'll see the Pamp Suisse bars going for about $1,540 and then you have to factor in shipping, insurance and the convenience of using bitcoin. Hope this helps! |
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Hey my early adopter friends. Let me assume for a second that you like I believe that Bitcoin is the greatest invention of our recent time and it is in our best interest and the interest of the whole world to get a critical mass of people use it and support it. I think we're already doing a pretty good job of it but I also think there's a lot of room to grow. And in that spirit I was hoping you'd sacrifice 18min and watch the following presentation: Simon Sinek: How great leaders inspire actionThank you for your time. You linked. I followed. Deserves a bump. T-Shirt idea: Ask Me Why Bitcoins? (insert Bitcoin image here) I posted the above then moved on only to come back to this a few minutes later to write this: Hell with a t-shirt. How about a tattoo? And parade yourself in Sturgis, SD. The only potential problem I see is that this could attract the wrong people - like those who might try "rubberhose cryptoanalysis" or someone in your sphere of influence who goes bad and installs a keystroke logger on your computer when you're away from it. Kind of like advertising "I carry anonymous cash" |
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And actually, come to think of it, it really does work well with Bitcoin especially.
"Why Bitcoin?"
"The current money situation is stuck in the stone age. Today when you buy something online, you have a few payment options, all of which are either involve large fees for the merchant, such as credit or debit cards or Paypal, or are slow and cumbersome, like direct bank transfers. If you try to buy something from a merchant in another country, you have limited payment options and even more fees. Even paying people in person is tough- cash is insecure and can be stolen or counterfeit and a check takes days for you to get your money after you drive to a bank to deposit it- assuming it doesn't bounce. The end result is higher prices for you, the customer and longer wait times. Basically, your money isn't even working like it should- to help you get goods and services that you want quickly and safely!
It's time for Money 2.0. Money that transfers in an instant and everyone knows is secure. Money that doesn't require big banks or payment houses to process so there can be zero fees for merchants and lower prices for customers. Money that anyone, anywhere can obtain and use, no matter their local currency. Money that can be everywhere you want it to be in an instant, and nowhere else. It's time for Money 2.0 and it's Bitcoin.
Bitcoin is a digital blahahabblablahbla........"
Someone take this and make a happy animated youtube video out of it.
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TradeHill – Security Update – Round 1 (PCI Compliance)
Immediately after the Mt Gox hack and database leak was announced we shut down our site to provide adequate time for users to reset their passwords. We noticed there were considerable attempts to brute force accounts that had the same user name on Mt Gox and TradeHill. In response we installed a captcha system and auto locked out accounts with too many failed login attempts. To the best of our knowledge this was 100% effective and have not received one email concerning a compromised account on TradeHill.com
TradeHill is proud to announce that our first round of security upgrades is complete.
We will be continuing to release updates regarding our security and upgrades to TradeHill.com
TradeHill is now PCI Compliant.
We have completed and passed a security audit by Trust Guard the leading online 3rd party website verification service. Trust Guard has searched our site for over 43,000 known vulnerabilities including SQL injection, XSS and many more and performed an ASV certified scan. This can be verified with the Trust Guard seal on our main page before you log in (when logged in it goes away to avoid clutter).
Our site will be scanned daily for new vulnerabilities and if detected they will be taken care of immediately.
Additionally we have had our corporate contact information (US address and phone numbers) verified to confirm that we are operating in the United States as well as Chile.
User privacy is a very serious issue.
We have updated our privacy policy and are now compliant with:
The Federal Trade Commission Fair Information Practices.
The California Online Privacy Protection Act.
The Childrens Online Privacy Protection Act.
The Privacy Alliance guidelines.
The CAN-SPAM Act.
We believe that this is the bare minimum that an exchange should be operating at.
PCI scanning and putting a seal on your website from Trust Guard, Verisign or McAffe doesn't make you immune to all attacks but it is one step towards a safer exchange and something we should have done a long time ago.
We are continuing to improve our security and will release updates as information becomes available. At the moment our source code and procedures are being verified by a 3rd party as well and we are working with top names in the security business. We will be happy to release their findings when they are complete.
We are also implementing dual authentication and other security features which will be announced soon.
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The part that pushed my button so much was his comment that I accept bitcoins because I am selling mining gear. The exact opposite is true. I am selling mining gear because I accept bitcoins.I accept bitcoins for deeply rooted philosophical reasons.
I first read about the concept of online digital cash in the late 90's and was enthralled by the idea. I had been waiting for the last decade for it to come along, and now that bitcoins are here, I can hardly sleep. I spend just about every waking moment promoting them in every way I can. I'm positive bitcoins are going to change the world for the better, and I want to be a part of that. I don't care at all about selling mining gear, and I can't think of something more insulting to me than having my devotion to bitcoin being downplayed. Remember, I am the guy paying $1200 a month for the bitcoin bilboard: http://www.bitcoinblogger.com/2011/06/bitcoin-billboard-in-silicon-valley.html$2500 a month for a national radio add on more than 105 stations across the country: http://www.youtube.com/watch?v=H15HyTti8vkI'm currently working on another project that I think will be the biggest news yet for the bitcoin community. It's not for sure yet, but I hope to be able to make an announcement about it at the end of this week. (Hopefully on Bruce's show) "Thank you" to all the forum members who helped make the above projects possible. Keep your fingers crossed! +1 |
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I'm looking forward to seeing the ATM where bitcoin can be converted to cash. I saw a link somewhere that someone in the US is doing this. Anybody have an update?
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Looking forward to see how they turn out!
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Current price (subject to change) is 100.64 BTC with FREE shipping to USA. Pix below and you can place your order at http://www.GoldStarBullion.com. References available upon request.~Trader Steve   |
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I heard that if everybody who thinks they have stock in silver actually tried to buy real silver, then silver would be worth 5 times as much as gold. Any way someone could verify this? Is buying silver basically just playing a waiting game?
The Comex market is a "paper" market and the futures contracts often outnumber actual silver by a significant multiple. This allows some of the big players to move the markets and influence it short term. Eventually, though, they can't withstand market forces and there could be a violent move up in silver prices. I like to think of bitcoin like silver - both have potential for even more dramatic upside moves. We shall see.  Trader Steve |
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A couple of other reasons for selling bullion:
In addition to simply acquiring bitcoin, I see this as a way to provide liquidity to the community and help "complete the circle" so that people can cash out of their bitcoin into the most liquid currency of all: precious metals - without ever having to exchange into a national currency. This helps boost confidence in bitcoin as well.
I have a selfish, long-term interest in seeing bitcoin succeed: my own liberty depends upon it. A free monetary system enables free markets which enables individual freedom. Give me liberty or give me death!
Trader Steve
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TraderSteve --
Not to be unpleasant, but you seem rather new around here...do you have any ideas about how you'll establish a firm reputation around these parts?
Yes, honor my word.  Trader Steve |
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Yes, I'm new and building a reputation with several winning transactions with several references already. I have bullion but need to own some bitcoin to diversify. I figure there's a few folks out there that have some bitcoin but need to diversify a little into bullion. Win-win! Now you can say that bitcoin is truly backed by gold!
Trader Steve
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As a (relatively) long-time follower of these boards, I've found the entire discussion of removing political discussion interesting. There was certainly a different 'culture' back in the days when bitcoins were just hitting parity with the US cent. I guess it's a sign of our growth as a community that we now have calls to 'remove politics' from the forum discussion. But still, I sometimes long for the old days when the forums felt a bit more 'exclusive.'
Nonetheless, I find Konkin's words reassuring:
"There will be a spectrum of the degree of agorism in most individuals, as there is today, with a few benefiting from the State being highly statist, a few fully conscious of the agorist alternative and competent as living free to the hilt, and the rest in the middle with varying degrees of confusion." -Samuel E. Konkin III, New Libertarian Manifesto
The truth is bitcoin is a deeply political development whether most people consciously recognize it or not. When you have a currency that is decentralized and pseudoanonymous with a predicitable money supply, of course it's political. Its usage is by definition counter-economic. But in our own agorist version of slowly raising the temperature of liberty from room temp to boiling so that the frog doesn't notice, we have to focus on the larger audience.
We have to remember that our ace-in-the-hole is the immediate, tangible benefits to the individual utilizing our developing ecosystem: minimal fees, increased stability, freedom of association, tax avoidance, regulatory avoidance, ease of contract enforcement, etc... They may not recognize the ultimate political ramifications, but they will quickly appreciate the system's practical value.
Here are just some of the many ways we can continue to draw them in:
More exchanges in more countries and less emphasis on the West - particularly the developing world where black/gray markets are already well established and the absurdity of government beneficence is well-known.
Distributed Contracts and Arbitration - in my mind a real potential game changer. Much more effective enforcement of contracts resulting in lower legal fees, more business relationship predictability, and increased commerce
Futures and Options - increased pricing stability, ability for merchants to lock in a price and mitigate bitcoin exchange risk
Meta-trading - trade oil, corn, wheat, stocks, etc... in BTC
Bitcoin capital formation markets
International Transfers
Micro-payment platforms
More Agoras
It's exciting to see that much of this work is already being done by so many. Much of this involves repackaging the growing Bitcoin toolkit for ease-of-use by end-users. We have much to be optimistic about. What happens to these forums just doesn't matter.
XC
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