another Ad hominem attack, if you dont want answer just ignore. this just make you look like a immature kid,
I changed my profile pic to a Ninja, just for you. Let us sort this out. No more Ad Hominems and yes, I knew what I was doing when I pulled up your past. I like you. I like all Cypherpunks because I am one as well. I have been a strong/ medium crypto for over 20 years. I have my hacker handle on several threads for having contributed to crypto/ hacktivism in several initiatives. x counts of security breached as well under my name. Every one of those were reported to the admins. I cannot disclose my handle, due to some damage caused (all reports from conservative sources). Nothing stolen, No information discovered was shared as well, but I did get a mail asking me to stop, almost 10 years ago. Never ventured into internet security warnings ever again. No advantage taken. Just a lust for knowledge. I do wish to make money, so that I can send my kids to MIT or Stanford. I do see Bitcoin as a massive redistribution of wealth for my generation as discussed in my article. http://bensonsamuel.wordpress.com/2013/03/22/bitcoin-the-greatest-redistribution-of-wealth-of-our-generation/Is that what you wanted to hear? I am not a malicious person by nature. I have 2 babies, an awesome family and a brilliant career that I left behind for Bitcoin in India. You seem to have a grassroots idea of spreading Bitcoin like wildfire. Would appreciate if we could work together than apart.. I will never hold your rudeness against you as far as I am not pushed to display aggression against you. Respect .. I'm a just a pony loving,rainbow dancing, kid living in my moms basement.some time i'm a total bitch. that's just me. I a lover of great works of 4chan. besides that i contribute mainly on different opensource programs based off Linux, there's nothing better than linux and any one talks Windows i will drop a nuke from my pink pony , I'm here on the forum not to trade or do business but just to keep an eye and provide suggestion and feedback . I have other means of income that is suited to me, i dont see bitcoins as some thing to profit from but some thing that only good disruptive technology can do. Bring about change and provide freedom to people. May be once in a while if thing click start projects and contribute in them, projects can only start once momentum builds hope that happens soon. ps- i love ninjas i think they are hot. but my pony still kick you ninjas ass.
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Keeping aside regulations i think bitcoin is gaining recognition.. i told many friends of mine but the only thing keeping them from investing or taking it seriously is the fact that evrythings in USD ie Mtgox and the prices are just too damn volatile.. but if an exchange does open up in india and it recieves as much recognition as mtgox then i dont see any reason why the majority wont accept it.. Bitcoin in india is still a budding topic but if some infrastructure does pop up peope are indeed going to recognize and get curious.. i feel we indians are very curious people.. and when profits can be made we dont generally lag behind PS. PPP is increasing in india and we are quite a large population .. drdanishkhan i know what you are talking about with newer people trying to enter the bitcoin community . they find it hard to go through that barrier of purchase , when every thing is quoted in USD and gox+10% it make it highly consumer unfriendly. one was to make it more acceptable is sellers jus start quoting the actual amount in INR . but when i proposed that it looked like every one want to put that idea down. sellers thinking it will not allow them to control price. The system we use in india needs to change making it friendly , simple and far more consumer friendly. drdanishkhan please do talk more about bitcoin to your friends and help them know more about the coins the more we talk the more we are able to grow the community.
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another Ad hominem attack, if you dont want answer just ignore. this just make you look like a immature kid,
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Anyone else feel that this thread makes sense? I do not see anyone apart from subvolatil with any problems here. I also went through previous posts of subvolatil to check if I was being pulled into an unnecessary conflict and it seems like it is. https://bitcointalk.org/index.php?topic=129972.msg1390069#msg1390069https://bitcointalk.org/index.php?topic=122788.0Dishwara is not a scammer by the way, he is quite a well respected member of the Indian Bitcoin community. If you spent more time reading through the forums, you would have known that. Are you justifying the charging of the escrow to people so that you have less people bothering you with escrow, and also so that you other thing in life would be given more time ? its that simple.
Keeping my Identity Public and open, updating record books, checking for existing scammer tags, a security cover for holding the BTC etc are more than enough reasons for a reasonable fee. The fee is to cover for time and other costs that I incur by moving away from my bread winning work. Everyone here quotes in Gox, because everyone knows Gox. When we get some more fluidity in INR pricing, this will organically change. We have seen this in the past across the russian forums as well. Once wallets and exchanges start showing prices in INR, people will quote in INR. I get my prices from Coinbase in INR. Not everyone uses Coinbase. Please stop accusing members of what you think is personally incorrect. You are wasting time, hi-jacking other peoples threads and causing unnecessary rifts in our growing community. You have suggested ideas on some threads, but never really built them or chased them. Your support to the Indian community has been very weak till date. Do not expect anyone to give a crap till you gain some form of credibility. You have not shown any technical, economic or marketing knowledge thus far. The forum is a place for us to get together and discuss the potential of Bitcoin in India. Not to squabble. If you think there is something wrong with what is happening, click the report to moderator button. theymos & John K review all moderator reports, so there are always more than one person who decides on an outcome of a report. Wow Benson i did not know you would try to resort to an Ad hominem attack , to a simple question i asked you . the answer too that you give me long unjustifiable answers., You have been discussing on why Indians have a bad rep in the international market . its because they can answer some thing straight forward. It looks like you have already taken up arms against a simple idea . looks like you have more than a vested interest on any thing that is going on in here. you are fighting with me over a simple question i asked . The question i asked you could be answered in less than one sentence. but you love giving long winded answers. and diverting the discussion from free market discussion to a personal crusade to justify you actions. if my one liner question made you so uncomfortable and you went on a rant to justify you action that just make thinigs more suspicious. and why people become so suspicious. i did not accuse you of scams or ripping people off. i questioned you on the ethics and reason behind the charges you put forth. But if you dont want to answer that you dont have to, just dont give out long winded answers to thing that are irreverent. So you idea of justifying thing , aka your actions is to write to the community and basically say " Look this guy is here that wants every one in the bitcoin community to benifit, and want a system that lets sellers not be in control of the prices but the market suply and demand. we should go and ostracize him in front of every one and then we should go about with out normal routine . " Benson you failed to see thing in the bigger prospective of why i was trying to bring up the issue of having things quoted in a National currency. i guess you think you loose money that the reason why you went about digging old posts like a little old women and trying to discredit me. I dont stoop that low . i dont discredit people, i ask straight forward questions and if you cant answer them then it not me to be blamed for it . My questions to past members have been straight forward. the discussion there was totally in the hands of the member, i was asking questions to . he failed to answer giving long winded answers, about the incomtax department and basically trying to drive other members from participating in the community . That brings us to the question i asked earlier . for which you seem to be avoiding the answer. so here it is again . Are you justifying the charging of the escrow to people so that you have less people bothering you with escrow, and also so that you other thing in life would be given more time ? its that simple. By the way mod this is a forum conversation some time things move off course if you want to split this also to your justification topic you can . but it was a simple question that you are blowing off proportion. I have spent the past post explaining to you what i meant by the system i proposed but you seem to ignore that and concentrate on some thing that hurts you ego . for a simple question. your idea of contributing to the community is empowering the sellers and businesses, well that is where i differ, i would rather see some thing that is community driven and determined by the local free market. By the way all my posts have always been to protect the greater good, not a few individuals, you think that is bad, then that's your way of thinking . you want to bring down barriers to people in the community then start to look into the ethical reasons on what is good for the masses and how in the future every one will befit. If you want to continue the discussion on the INR system i was talking about please continue . Ideas can only be proposed , but for adoption of it it needs to be discussed . so if you want this idea to die out then just dont discuss. it will die out. just like the one where in we were discussing about forming a team for a alt coin .and i asked you to create a new thread, you seemed most interested and you seemed to be the one to take the lead but, you did not insted, no one participated and died out. but that post was also a idea i was proposing to solve a specific problem a different problem. Do you see the trend here?? i try to propose idea to solve problems with bitcoin, not find ways to send money to exchanges. I look at the bigger picture when it comes to bitcoin and try to have open system and safer system for the community, through these discussions.
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Kali is gona get you soon.
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Just make sure that all purchase and sale talks are done on the board not on pm. that way atleast all info are public. i mean every thing just let the seller or the buyer to your post and have them update the request there.
If they try to scam you a trail is always left and a simple update on the board puts a history on his post and others can see that too.
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Quote "people just went defensive when i asked them to put in a number instead of saying gox+10% . if you understood why people became defensive by giving explanations that really does not make any financial sense, then you will understand why it hurts the community. try to think on that .
Ps- i was not saying that gox was in monopoly. gox never had monopoly. i pointed the monopoly to the system of using the gox+10 a monopoly. because that system sets prices not the supply and demand in the country."
You are also contradicting what you are saying. If they are putting in a number based on Gox, it is still pegged to Mt Gox + 10%. What if the seller needs to clarify where he has derived the price from? Are you asking him not to? People got defensive because you did not explain that you just wanted to see INR being quoted and not Mtgox + 10%. Yes they got defensive because of that very reason. and i've been trying to explain why it is better to just quote a number rather than gox+10%.But the odd part of this was no body every took time to ask how would this be beneficial, and why it would be better insted came out swinging a club and justifying transactions, to see the bigger picture you got to open your eyes. and trust me once that starts people will be more than acceptance of using bit coins , newer users can more easily be assimilated into the bitcoin community. problems of bitcoins not being sold during gox low rates will be solved. I would also like to understand this open system that you have introduced for people to know. All you have said is 'sell based on Gox rates, but charge in Rupees'. Ok here you go eg - on 12 jan A says i am selling 1 bitcoin for Gox+10% , B says ok i will buy for gox+10% . on 13jan C says i am selling 1 bitcoin for 5,000/INR . D says i am buying it for 5,000/INR on 14 jan A says i am buying 1 bitcoin for Gox+10% D says i am selling for Gox +10% on 15jan C says i am buying 1bitcoin for 6000/INR . B says i am selling for 7,000 INR now put this verry transaction into a market of a hundred transaction .. are you able to gauge what is really happening in the market There is verry little open information to be seen. Think big if you plans are to get bitcoins more acceptability in india now put in a this next example in . on 12 jan A says i am selling 1 bitcoin for 4000/-INR , B says ok i will buy for 4000/-INR . on 13jan C says i am selling 1 bitcoin for 5,000/INR . D says i am buying it for 5,000/-INR on 14 jan A says i am buying 1 bitcoin for 5500/-INR D says i am selling for 6,000/-INR on 15jan C says i am buying 1bitcoin for 6000/INR . B says i am selling for 7,000 INR (sold) This looks like some thing so simple you every one . that you are goina ask Why the hell are you making it a big fuss. its not like bitcoin traing in india is like a million dolar trad. its just a small community. Small community , that is the reason why the big fuss, because once the community grows the problems i have stated are going to be real and we need to adopt a system where in future growth is anticipated . . Ethics are based on personal values. When you questioned my ethics, I answered appropriately. In case you did not know, a Moderators job is to ensure smooth flow of the forum, avoid spam, trolls, scammers and settle disputes. This seems to be going on. Although not yet close to where it can be. You have mistaken me for a forum marketer. I do that as well, but out of my own interest. I also strongly support indiabitcoin.com, buysellbitco.in, rbitco.in and any other initiative apart from the forum that drives people into Bitcoin in India. I do that from bensonsamuel.com as a personal interest and not as a duty. Ehics part was this what i was pointing at :- Where in this entire line do you see me talking about your life , what i pointed out was the ethics behind charging people for escrow, being a mod. But if your justification for this is that you have other thing to do in life, and by charging a % to people there will be less people bothering you then , you sir have forgotten that you as a mod is suppose to get more people involved not the other way around. I never picked up any thing else, and still you justify by answering this part by diverting the answer to other thing like what a mod is suppose to do on the forum and businesses that are operating in the forum . Those are irrelevant to the question i put fort which i will reiterate sin simple english . Are you justifying the charging of the escrow to people so that you have less people bothering you with escrow, and also so that you other thing in life would be given more time ? its that simple. If you answer by saying it so that i can earn money . i respect that every one earns money , but if you intentions was to lower the number of escrow request then you are doing a wrong thing.
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All that needs to be done is, a person is selling BTC put in a number, if his gox+10% is 9,000, put that number in, not a % that is on a exchange which very few people can reach. So you are expecting TRADERS to continuously update each of their rate threads ? What if I quote 9k INR today and tomorrow the Gox prices rises above 11k INR, keep in mind that I am BUYING FROM GOX & SELLING TO PEOPLE & the guy willing to buy says 'WOW WHAT A DEAL!!' He contacts me & finds out that I FAILED to update my rates & Hence yells SCAMMER at my face & degrades my rep ... thats what you are suggesting. Even getting money into GOX or OKPAy costs money as traders we must ensure that our profit margins covers that and then some. Legendster you buy from gox lets say you total expense was 8,000/- INR. you come over to the thread decide to sell it for 10,000/- INR you sell it . you get 2,000/- INR as your profit, this is after calculating expenses and charges. Not taking example of gox+10% system you buy for 8,000/- this creates two outcome. . 1. gox rate dips to less than 8,000/- you will never sell . at that rate. what happens at that time all sellers stop selling ckz they can quote gox+10% creating a voide in the supply of bitcoins. HOLD IT RIGHT HERE. When gox prices dip below 8k, I buy MORE COINS & Sell them for 10%+gox & yes I will never sell my expensive coins for lower prices, I'll even create a separate wallet for them & sell them when the market prices are above them. Thats the best way to increase the supply of coins in India. You sure know a lot about trading, but it is not enough. and that i what i am pointing towards , purchase of coins that are above the current market rates are never sold if you still keep using the gox+10%. Yeh it true when you have liquidity in funds you buy when markets are low, be you willl not sell that coins which you have baught earlear for a higher price. Consider this every one in the market starts doing that. for a period of lets say 10 days the bitsoin rates go bellow the market rates. every one has earlier bought it at a higher market rate. What happens to the bitcoins already bought??? no one sells it . if a market system in which gox+10% is used you wont be able to quote you prices again. because now the buyers will quote gox+10%. you wont be able to sell the older bitcoins untill and unless ther is a liquidity with you to buy ar the current gox rate. here the sellers loose out on the sale of bitcoins not on the suply of the coins in the indian market but the market rates on gox. so only the sellers who has liquidity to purchase in that down market can benefit . secondly also creating a situation where coins are not available because no one sells when gox is down. Here i am talking about a collective not as an individual. As an individual the motive is always profit, to hold when markets are down to sell when it is high. as an individual using gox+10% or quoting prices in INR makes verry little difference because in both the cases i stil make a profit just quoting gox+10% is simple insted of doing a bit of math to give out the value in INR. But on a larger scale when every one does that the problem of scarcity in coins come up . scarcity creates a problem of non adoption of a monetary system what Bitcoin is. Bitcoin is not a trading instrument it is a currency, which has a main purpose of being used to purchase goods and services. so all i am saying is that you want more people to use bitcoin you need to have it more acceptable, to the general public. systems need to be made simpler, for the buyer not complex. people need to be able to see that bitcoin as a currency and not a trading instrument.
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All that needs to be done is, a person is selling BTC put in a number, if his gox+10% is 9,000, put that number in, not a % that is on a exchange which very few people can reach. So you are expecting TRADERS to continuously update each of their rate threads ? What if I quote 9k INR today and tomorrow the Gox prices rises above 11k INR, keep in mind that I am BUYING FROM GOX & SELLING TO PEOPLE & the guy willing to buy says 'WOW WHAT A DEAL!!' He contacts me & finds out that I FAILED to update my rates & Hence yells SCAMMER at my face & degrades my rep ... thats what you are suggesting. Even getting money into GOX or OKPAy costs money as traders we must ensure that our profit margins covers that and then some. Legendster you buy from gox lets say you total expense was 8,000/- INR. you come over to the thread decide to sell it for 10,000/- INR you sell it . you get 2,000/- INR as your profit, this is after calculating expenses and charges. Not taking example of gox+10% system you buy for 8,000/- this creates two outcome. . 1. gox rate dips to less than 8,000/- you will never sell . at that rate. what happens at that time all sellers stop selling ckz they can quote gox+10% creating a voide in the supply of bitcoins. 2. gox rate jumps over 8,000 or ever 10,000/- INR you sell people buy it with additional +10% , who is loosing no one. but the sale is only happening after prices in gox has increased. to your satisfaction. and trust me no one will sell when gox rates are low, and that is some thing that is not good for the community. Sellers never have to go on a loss, sell it at your profit. but put in a amount in it , if you feel that your prices has increased, just apologize and update your new prices. if prices in gox falls you will not loose if prices in gox increase you will not loose.
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Benson atleast i'm not charging any thing. No where on my post do you see me trying to take advantage of people.
How is anyone taking advantage of people? People are free to decide whether my services should be used or not. We are NOT children here. If anyone asks me for an escrow, I would rather direct them to a trusted party than deal with it myself. Can you name some other people who will be good candidates for escrow? I will be glad to add their names to the thread as well. Hey did i offer to sell on my forum right now? no i did not . When i do i know how to . All i am telling people to do is to start quoting amounts . There is no devaluation there. But what you dont seem to grasp is that when people start to peg their prices to gox it creates a system that does not let other sellers and buyers participate in those buys. there is no open system of communication that can happen .
It is not me asking people to peg to Gox. This seems to be the norm to peg the price to a well known exchange. Everyone prices the way they feel. And FYI, there are people who sell for way less than GOX and some who sell way way more as well. Right here on the forums. I have helped promote both kinds of sellers. And, no, I have not really supported or involved much with a justification on pricing. Everyone is free to trade as they choose. Some say Gox, others say btc-e. Until we have something that fluid in India, it is tough to peg a price to INR. I have not said they cant cover up their cost on transfers and profits. just use an amount, not gox+10% . you want active participation in the community , you should be taking the lead to have people involved in a open system of transaction .
Just because the supply is low does not mean that you promote a system that allowes people to hurt the community . no .
If anyone feels that this system is hurting the community, then by all means, we should stop it. This is the first time that I am hearing about something like this. All that needs to be done is, a person is selling BTC put in a number, if his gox+10% is 9,000, put that number in, not a % that is on a exchange which very few people can reach.
This sounds very reasonable. In fact, It would be great if someone could put up a calculator to add margins and then quote in INR. So tell me where is devaluing the prices comes in to play. Unless you are scared that gox prices would go up and you loose up on the money that the exchange going up . is that the reason ? well if that is it just say the market has risen and the new price is this. is that hard to do? by the way the post i have put in does not any where state that i am doing harm to people , that post gives buyers and sellers to offer their prices they want, to do it according to gox they can jut put in the INR figure. Nowhere had you mentioned that this was all about the currency denomination. All i am telling you is to stop quoting gox and quote you own prices. This discussion sprang from you quoting 5K INR when the price quoted was a lot more reasonable. It was a sale thread and you moved it into a bid thread. Hence the discussion. You can always start a bid sale with your own coins, no problem with that at all. Changing from USD to INR is a fantastic solution. In fact if you notice, I had tried that on 2 posts earlier when I helped someone sell BTC. https://bitcointalk.org/index.php?topic=198710.0https://bitcointalk.org/index.php?topic=197790.0You talk about me taking the lead yeh i have . i put in an open system for every one to know what is going on . but do you see me chagrin any thing . in this early stage you can't even handle a few hundred transaction escrow a day. and you start charging a % despite being a mod in a forum that barely has a few hundred members. Any one else doing that i can understand but a mod, its a bit low.
You seem to think that the forum is the only work that I do. I joined here as a volunteer and worked quite hard to get people involved in the Bitcoin community. So if you think that a moderator cannot charge escrow, you are wrong. I am also a bitcoiner just like you. I handle several Websites, work with the press, blog, write code to feed my family, and a host of other activities. The Bitcoin forums may be at an early stage, but there are several other online resources gaining quick traction as well. In fact, I know a bunch of miners in Bangalore who do not really participate in the community because they choose not to. Monopoly - when a person, business, goods, or a system controls the the market of purchase and supply of goods. here the system of using gox+10 is the monopoly. i'm not attacking the sky rocketing prices. bitcoin prices will rise through time . but what i am concerned about is the use of a Exchange to standardize purchase ans sale .
moving people off using gox+10% is a better thing to do, if they want to still use the exchange rates but just quote prices in INR.
Mt Gox deserves their monopoly because no one has been able to offer a better solution till date. Build a better solution and the world will follow. Quoting prices in INR is well advised. You as a mod need to see that transactions atleast in such an infancy should be open and needs to be out there. not in private pm's and gox rate.
All discussions and proof of sale can be vetted on the same thread as the intent to sale.
That was part of the post that I had made. Nothing is done in PM unless either party requests secrecy. That is every users right. Anyone can PM anyone and discuss any matter. I will not stop that from happening. As an Indian i would like to use my currency standards to show value. INR , if you have forgotten its Rupee. you want to see 1 million people in the indian community start by having people quote prices in INR, they can add in any amount in overheads to cover their rates, there is no devaluation , just the use of INR insted of saying gox+10%. You need to promote open systems.
You are mentioning the INR bit for the first time and I have promoted it as mentioned above. if your interest is to bring bitcoin in india in a bigger way , my interests lies in solving problems in bringing bitcoin in a bigger way .
Then you should work on that. I should have understood that most dont not have a background in economic. when i said not to peg it to an exchange. My fault , my bad. What i meant in the earlier post not to peg it to an exchange was to tell that a number based system was a better one. with an amount used to represent the value. If that translate as some thing alien, then this is what it meant. "Using a value that is attached to a exchange with addition of 10% gives a vauge idea of value to the bitcoin, so if insted you convert that value to a number and represented it in the Indian currency, would be fare less hostile to new people looking to enter the bitcoin market. " so this is not the first time i am mentioning INR. people just went defensive when i asked them to put in a number instead of saying gox+10% . if you understood why people became defensive by giving explanations that really does not make any financial sense, then you will understand why it hurts the community. try to think on that . Ps- i was not saying that gox was in monopoly. gox never had monopoly. i pointed the monopoly to the system of using the gox+10 a monopoly. because that system sets prices not the supply and demand in the country. Hey every one is working , every one puts in their time to make ends meet. "You talk about me taking the lead yeh i have . i put in an open system for every one to know what is going on . but do you see me chagrin any thing . in this early stage you can't even handle a few hundred transaction escrow a day. and you start charging a % despite being a mod in a forum that barely has a few hundred members. Any one else doing that i can understand but a mod, its a bit low. "
You seem to think that the forum is the only work that I do. I joined here as a volunteer and worked quite hard to get people involved in the Bitcoin community. So if you think that a moderator cannot charge escrow, you are wrong. I am also a bitcoiner just like you. I handle several Websites, work with the press, blog, write code to feed my family, and a host of other activities. The Bitcoin forums may be at an early stage, but there are several other online resources gaining quick traction as well. In fact, I know a bunch of miners in Bangalore who do not really participate in the community because they choose not to. Where in this entire line do you see me talking about your life , what i pointed out was the ethics behind charging people for escrow, being a mod. But if your justification for this is that you have other thing to do in life, and by charging a % to people there will be less people bothering you then , you sir have forgotten that you as a mod is suppose to get more people involved not the other way around. Let me apologize before hand, the way and style i write and convey thing may be a bit rude but i'm not trying to be rude, just speaking my mind.
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The mod seeems to care less about growing the indian community rather to increase his chances of earning the cash.
So what are you saying here? Explain? I am working as hard as anyone out here. So pick your words carefully. I am not a buyer or a seller but I will help people. Ask anyone in the community if I have ever charged for anything. I will help anyone who asks, as long as it is not about loans, advances or INR escrows. And I do not need cash, lol. I have other interests in mind here and all of them are aimed at bringing Bitcoin into India in a bigger way. All i have been really talking about to to grow the community. have people involved. stop practices that is harmfull to the community. But all you people want is to make money off others. Bitcoin is not even born in india , let alone in it infancy . and most of you people are on the way to killing it .
Lol, patience subvolatil. It has just started. What did you expect? A fully mature market in 4 years? A booming Indian market in under a year? By devaluing its price, you seem to be a bit more geared towards killing it. you want monopoly do it outside the bitcoin forums. it has been a history that bitcoin is determined by bids and free market economy. not some thing stupid as waiting to Mt Gox to be at it highest and then selling you bitcoins at Gox +10% .
You deal with market suply and demand. you set the prices and then let the market forces decide.
There is no monopoly. Everyone displays their request and people buy or sell, it is that simple. No conspiracy to paint here. What happens to people who need to transfer money out of India to buy BTC and then sell to you? Who pays for the trouble/ costs that they encounter? How do you judge supply and demand when we do not even have a fraction of BTC in India? Demand is skyrocketting, but there is no supply. In order to cover up the supply, there are costs involved. All i am telling you is to stop quoting gox and quote you own prices. Do all you dealings on posts not on private pm. You want to use desi tactic, that is not gona work. I know very well india being the land of scams. people just want to rip off others . Consider me as the your personal moral police. i will always point out the wrong, i will always make sure you follow the open standards of the bitcoin community . Remember the indian bitcoin community is nothing special that it goes by its own rule. but the rules of this global community, that has valued itself on open transactions. and open forums.
Stop using all this explanations of banking cost and week currency to justify what is being done . You want to sell sell it on the price you want. give a dam number dont use the prices set in gox or any exchange and then raise another 10% . you do you dam calculation and put in a number to what you want.
I would like to see you lead this by selling BTC under the price of the Exchange rates. This is not moral policing, but a very personal view. I would like to see how many people will be Ok with devaluing Bitcoin in India. Conclusion: I do believe that your intentions are awesome, but you were unable to explain them in a civil manner through the forum. I noticed your post on https://bitcointalk.org/index.php?topic=194102.0 offering Escrow. Is that what upset you? Because I posted that I will be offering as well? I only posted that due to the number of requests and the number of times that I had to resend that e-mail to people requesting for the service. If anyone else feels that there is unfairness, it needs to be vocal. I tremendously appreciate subvolatil for the previous note. Hopefully, we can grow the community in a manner that is better suited to everyone's need of the hour. My goal is to have 1 million Indians shout 'Bitcoin' by the end of this year. And everything that can be done, will be done to make that happen. PS: We are very close BTW. Benson atleast i'm not charging any thing. No where on my post do you see me trying to take advantage of people. Hey did i offer to sell on my forum right now? no i did not . When i do i know how to . All i am telling people to do is to start quoting amounts . There is no devaluation there. But what you dont seem to grasp is that when people start to peg their prices to gox it creates a system that does not let other sellers and buyers participate in those buys. there is no open system of communication that can happen . I have not said they cant cover up their cost on transfers and profits. just use an amount, not gox+10% . you want active participation in the community , you should be taking the lead to have people involved in a open system of transaction . Just because the supply is low does not mean that you promote a system that allowes people to hurt the community . no . All that needs to be done is, a person is selling BTC put in a number, if his gox+10% is 9,000, put that number in, not a % that is on a exchange which very few people can reach. So tell me where is devaluing the prices comes in to play. Unless you are scared that gox prices would go up and you loose up on the money that the exchange going up . is that the reason ? well if that is it just say the market has risen and the new price is this. is that hard to do? by the way the post i have put in does not any where state that i am doing harm to people , that post gives buyers and sellers to offer their prices they want, to do it according to gox they can jut put in the INR figure. You want people to come into the community more you need some thing that is simple . You talk about me taking the lead yeh i have . i put in an open system for every one to know what is going on . but do you see me chagrin any thing . in this early stage you can't even handle a few hundred transaction escrow a day. and you start charging a % despite being a mod in a forum that barely has a few hundred members. Any one else doing that i can understand but a mod, its a bit low. Monopoly - when a person, business, goods, or a system controls the the market of purchase and supply of goods. here the system of using gox+10 is the monopoly. i'm not attacking the sky rocketing prices. bitcoin prices will rise through time . but what i am concerned about is the use of a Exchange to standardize purchase ans sale . moving people off using gox+10% is a better thing to do, if they want to still use the exchange rates but just quote prices in INR. You as a mod need to see that transactions atleast in such an infancy should be open and needs to be out there. not in private pm's and gox rate. As an Indian i would like to use my currency standards to show value. INR , if you have forgotten its Rupee. you want to see 1 million people in the indian community start by having people quote prices in INR, they can add in any amount in overheads to cover their rates, there is no devaluation , just the use of INR insted of saying gox+10%. You need to promote open systems. if your interest is to bring bitcoin in india in a bigger way , my interests lies in solving problems in bringing bitcoin in a bigger way .
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Hello Guys,
I have $ 500 USD worth BTC (roughly about 5 BTC) currently available in my account at the exchange that i'm not actively using in my day-to-day trading. Do let me know if anyone wants to buy.
MTGOX (last price) + 10%
Payment Method : Accept Cash Deposit / NEFT to my Indian Bank account.
I have 4 BTC still available. Price : MTGOX (last price) + 10% I 'll pay you 4,500/- each, purchase all, instant cash deposit. and any escrow you like as long at it is a prominent member . i dont peg the rates to any exchange. start the negotiations. I can tell you 2 things. 1. I m first in line 2. He wont sell at that rate ($85 ??) Hey! just setting some bidding on the line. the indian community has to get off pegging the bitcoin to foreign exchanges. let a free market force determine prices. that is much better and gets rid of monopoly. and stop using the $ use you national currency to bid. I raise my bid to 5000/- any sell want to sell at that rate can join in too. :-) Ps- just because there is supply problem in India does not bean prices can be quoted as pegged+10% . It creates an un favorable market demand and drives away potential future users. If sellers dont agree with this concept, i am sorry i will push free market rates in the indian community much harder. Ever had the IDEA that most traders are not miners ? They BUY the coins they sell ? Price of a Bitcoin is dependent on the Supply/demand curve and in India there is limited supply and high demand, it is a market strategy to monopolize and charge high now, that is how a market works ! Keep in mind that The Price per BTC is also a real representation of the value of the "Energy Spent" on creating it (think about it) and you cannot be expecting to peg BTC's value in INR because INR is such a weak currency. Wow !! just like i expected to see how the indian community of bitcoiners would be like . you look at bitcoin and all you see is a way to make money. you will do any thing to stop using a biding system to ensure that nothing like a free market workes out. The mod seeems to care less about growing the indian community rather to increase his chances of earning the cash. All i have been really talking about to to grow the community. have people involved. stop practices that is harmfull to the community. But all you people want is to make money off others. Bitcoin is not even born in india , let alone in it infancy . and most of you people are on the way to killing it . you want monopoly do it outside the bitcoin forums. it has been a history that bitcoin is determined by bids and free market economy. not some thing stupid as waiting to Mt Gox to be at it highest and then selling you bitcoins at Gox +10% . You deal with market suply and demand. you set the prices and then let the market forces decide. All i am telling you is to stop quoting gox and quote you own prices. Do all you dealings on posts not on private pm. You want to use desi tactic, that is not gona work. I know very well india being the land of scams. people just want to rip off others . Consider me as the your personal moral police. i will always point out the wrong, i will always make sure you follow the open standards of the bitcoin community . Remember the indian bitcoin community is nothing special that it goes by its own rule. but the rules of this global community, that has valued itself on open transactions. and open forums. Stop using all this explanations of banking cost and week currency to justify what is being done . You want to sell sell it on the price you want. give a dam number dont use the prices set in gox or any exchange and then raise another 10% . you do you dam calculation and put in a number to what you want.
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Hello Guys,
I have $ 500 USD worth BTC (roughly about 5 BTC) currently available in my account at the exchange that i'm not actively using in my day-to-day trading. Do let me know if anyone wants to buy.
MTGOX (last price) + 10%
Payment Method : Accept Cash Deposit / NEFT to my Indian Bank account.
I have 4 BTC still available. Price : MTGOX (last price) + 10% I 'll pay you 4,500/- each, purchase all, instant cash deposit. and any escrow you like as long at it is a prominent member . i dont peg the rates to any exchange. start the negotiations. I can tell you 2 things. 1. I m first in line 2. He wont sell at that rate ($85 ??) Hey! just setting some bidding on the line. the indian community has to get off pegging the bitcoin to foreign exchanges. let a free market force determine prices. that is much better and gets rid of monopoly. and stop using the $ use you national currency to bid. I raise my bid to 5000/- any sell want to sell at that rate can join in too. :-) Ps- just because there is supply problem in India does not bean prices can be quoted as pegged+10% . It creates an un favorable market demand and drives away potential future users. If sellers dont agree with this concept, i am sorry i will push free market rates in the indian community much harder. I agree with the concept of pegging BTC to INR, but we also need to take the factor of scarcity into consideration. An that is the reason why a free market system of bids setting prices, is far more better. an economical system would collapse if scarcity drives a monopolistic system of rates. No one in india would want to buy bitcoins and no one would see any use for it. so in better terms, it would be dead in the water before it starts. Whats happening is basically every one holds their sell till GOX has a high price and then add another 10% to their sale. which in its self becomes monopolistic, because sale is determined by one exchange being at a high price. A free market rates would be determined by supply and demand . that the demand is like in India can be gauged properly with this system.
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Hello Guys,
I have $ 500 USD worth BTC (roughly about 5 BTC) currently available in my account at the exchange that i'm not actively using in my day-to-day trading. Do let me know if anyone wants to buy.
MTGOX (last price) + 10%
Payment Method : Accept Cash Deposit / NEFT to my Indian Bank account.
I have 4 BTC still available. Price : MTGOX (last price) + 10% I 'll pay you 4,500/- each, purchase all, instant cash deposit. and any escrow you like as long at it is a prominent member . i dont peg the rates to any exchange. start the negotiations. I can tell you 2 things. 1. I m first in line 2. He wont sell at that rate ($85 ??) Hey! just setting some bidding on the line. the indian community has to get off pegging the bitcoin to foreign exchanges. let a free market force determine prices. that is much better and gets rid of monopoly. and stop using the $ use you national currency to bid. I raise my bid to 5000/- any sell want to sell at that rate can join in too. :-) Ps- just because there is supply problem in India does not bean prices can be quoted as pegged+10% . It creates an un favorable market demand and drives away potential future users. If sellers dont agree with this concept, i am sorry i will push free market rates in the indian community much harder.
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Hello Guys,
I have $ 500 USD worth BTC (roughly about 5 BTC) currently available in my account at the exchange that i'm not actively using in my day-to-day trading. Do let me know if anyone wants to buy.
MTGOX (last price) + 10%
Payment Method : Accept Cash Deposit / NEFT to my Indian Bank account.
I have 4 BTC still available. Price : MTGOX (last price) + 10% I 'll pay you 4,500/- each, purchase all, instant cash deposit. and any escrow you like as long at it is a prominent member . i dont peg the rates to any exchange. start the negotiations.
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You wanna buy FPGA for mining, seriously guys FUND my project. I will update the details soon once my engineer can confirm it and gets one prototype ready. Probably will take anywhere from 2 weeks to the end of July. keep in mind india is NOT a destination for FPGA chip sellers. I have found some contacts seriously cant rely on all of these guys as they are complete strangers to me. I must visit these manu-factories myself and do all the talkings & confirmings in person.
come over to delhi a group of us can get some of these people do the work. hehehe . Care to explain >? well As you know trust is such a big issue in india, talking about funding some one in kolkatta is like saying "here you go i have written you a signed blank cheque, keep it safe for me." i hard for people to trust any one in india, unless he or she is in the same location, and then to it is still a bit hard to trust.. Yes thats why i am INVITING Any and Everyone to come visit once the prototype is ready. Cool would love to look into it. do keep me posted on your progress, i will also do the same once my project takes off the ground. I have free electricity ......plus workplace ,,,,,,,that is my own flat .... Now you'r talking business . just pm me we can work some thing out.
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You wanna buy FPGA for mining, seriously guys FUND my project. I will update the details soon once my engineer can confirm it and gets one prototype ready. Probably will take anywhere from 2 weeks to the end of July. keep in mind india is NOT a destination for FPGA chip sellers. I have found some contacts seriously cant rely on all of these guys as they are complete strangers to me. I must visit these manu-factories myself and do all the talkings & confirmings in person.
come over to delhi a group of us can get some of these people do the work. hehehe . Care to explain >? well As you know trust is such a big issue in india, talking about funding some one in kolkatta is like saying "here you go i have written you a signed blank cheque, keep it safe for me." i hard for people to trust any one in india, unless he or she is in the same location, and then to it is still a bit hard to trust.. Yes thats why i am INVITING Any and Everyone to come visit once the prototype is ready. Cool would love to look into it. do keep me posted on your progress, i will also do the same once my project takes off the ground.
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You wanna buy FPGA for mining, seriously guys FUND my project. I will update the details soon once my engineer can confirm it and gets one prototype ready. Probably will take anywhere from 2 weeks to the end of July. keep in mind india is NOT a destination for FPGA chip sellers. I have found some contacts seriously cant rely on all of these guys as they are complete strangers to me. I must visit these manu-factories myself and do all the talkings & confirmings in person.
come over to delhi a group of us can get some of these people do the work. hehehe . Care to explain >? well As you know trust is such a big issue in india, talking about funding some one in kolkatta is like saying "here you go i have written you a signed blank cheque, keep it safe for me." i hard for people to trust any one in india, unless he or she is in the same location, and then to it is still a bit hard to trust..
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Shit i should have taken hindi in school . Google translate to the rescue. अरे यार मैं स्कूल में हिंदी लिया जाना चाहिए था. गूगल के बचाव में अनुवाद करते हैं.
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