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8201  Other / Beginners & Help / Re: What's the biggest demand for BTC products/services besides drugs? on: September 11, 2012, 06:49:54 PM
Scams.

I say this with all sad honesty.  It seems the "product" in demand above everything else is fake profits which exist on paper only.   Just give them some imaginary numbers which increase on a website and they will hand you nearly unlimited bitcoins for you to steal.  Some may argue that isn't demand but given that even the most transparent scams work over and over and over I have to conclude the product that a large number of Bitcoin users are seeking is worthless paper in exchange for their valuable bitcoins.

Maybe a little more useful.
The demographic of Bitcoin is (my guess) mostly male, 18-40, middle class, technical, generally from developed nations.  Products which fit that demographic are more likely to be in demand.
Bitcoin has the advantage of being low cost, irreversible, and nearly instant.  Products which can use those features are more likely to be in demand.
8202  Economy / Lending / Re: Loaned 3 BTC to ladybug45 on: September 11, 2012, 06:19:47 PM
Wow first time I ever saw someone loan to a 0 post "member".  That has to be a record right?
8203  Economy / Speculation / Re: What is Bitcoin's tipping point? on: September 11, 2012, 06:14:17 PM
I don't think there is any one "tipping point".  Each incremental improvement to the Bitcoin economy improves liquidity, market depth, and volatility.
They are all improved relative to 1 year ago and 3 years ago.  If they keep improving Bitcoin will keep growing and become more and more attractive.

If they don't ... then Bitcoin will shrink significantly.  I don't think it will ever go away at this point. 
8204  Economy / Currency exchange / Re: FastCash4Bitcoins Support Thread (Update: funds added) on: September 11, 2012, 06:05:26 PM
I don't see moneypak available any more, and not in your daily funds available list, are you still offering this?

Yes.  We still offer payouts by MoneyPaks however we are out of funds for that option. Everything except PayPal, Dwolla, OKPAY are funded by "Bank" account.  GreenDot MoneyPak is an available option on payout dropdown.  It shows funds available as "none" which is accurate.  I will make sure the funding status on this thread is updated.  We should have more funds available this evening.   I know I sound like a broken record but the abrupt closure of Bitfloor really hurt our liquidity.  Keeping all our accounts payable accounts funded was always a challenge but we sold over 25,000 BTC on bitfloor in the 30 days prior to its closure (yes we were 25% of the sell side volume).  That creates a giant "fiat hole" in our cashflow.  It is going to take time to get our liquidity back in order.

Full disclosure: Expect lots of red in the funding status over the coming days/weeks.  We are working to fix it.  Personally I hate seeing red on the status chart. That is just sales lost so trust me we have a very direct incentive to improve our funding but it isn't going to happen overnight.
8205  Bitcoin / Bitcoin Discussion / Re: Response on: September 11, 2012, 06:01:01 PM
I'm sorry for you, I hope that the Bitcoin community will grow up the next years.
You have asked too much to some brains.
Nothing is wrong with btc community, just the damn scammers.
Scammers are integral to bitcoin community.  the human race.


FYPFY.
8206  Bitcoin / Bitcoin Discussion / Re: Response on: September 11, 2012, 06:00:24 PM
He obviously means a trusted THIRD PARTY.

For Matt could have written up a letter explaining the prank and how even if he won he would not under any circumstances expect the losers to pay or seek any consequences for them, dated it,  then digitally signed it.  He could then have a trusted third party (say Gavin) digitally sign it as a notary.  Even better would to then take a hash of the final double signed document and put that hash in the OP.

While it would still be a scumbag thing to do, it would make it a provable prank.   I am convinced Matt for whatever deluded reason (likely thinking emotially) thought Pirate would repay.  He bet 10K BTC with the intent to collect (and teach all those naysayers a lesson).  Over the intervening weeks it became obvious Pirate wouldn't pay and after the fact Matt removed the cap, and started accepting unescrowed bets from noobs for hundreds and even thousands of BTC in an attempt to run the bet up into insane amounts as cover that it was all a joke.  His "technicality" is so beyond weak (10 year old thinking) that for someone as creative as Matt it comes off as a weak after the fact play.  He couldn't change the terms so he had to look for something to hang his "joke" on.

Obviously that theory can never be proven (baring a confession from Matt) but had he created a digitally signed document he could have proved his intent.  One would think Matt who used provable lottery in the past would have considered making a letter to provide him cover when the "joke" exploded.  He didn't because at the time of the bet it wasn't a joke.

The worst part is he tried to take the coward liar (yes Matt you are a liar) way out.  Had he just said "Fuck you all, you aren't seeing a cent.  See the danger of betting/investing with an unknown counterparty" I would have at least had a little respect for him.   He simply didn't even have the guts to do that.   
8207  Bitcoin / Bitcoin Discussion / Re: It seems irreversible payments are a paradigm shift: Scams everywhere. on: September 11, 2012, 02:13:35 PM
Survival of the fittest is the name of the game here, and your mismanagement of your funds has proven you do not have what it takes.

We still need something to regulate our life in Bitcoin world. An instrument that allows to "reverse" a payment if there were no delivery of the good would be very handy.

Its called escrow.
8208  Bitcoin / Mining / Re: Question about pooled mining and transaction fees on: September 11, 2012, 04:41:01 AM
Yeah Meni # are a little old.  Avg tx fees are closer to 0.20 per block now.   That is up from ~0.04 per block at the beginning of the year.  Still small but they will be increasingly important.  Say tx volume doubles and avg fee also doubles and this is after the subsidy cut goes into effect.  That would make fees go from ~0.4% to ~3.0% of total compensation.
8209  Other / Beginners & Help / Re: Not recieving bitcoins after purchasing on: September 11, 2012, 03:56:26 AM
Would be nice to edit the OP and put a [Resolved] in the title.
8210  Economy / Long-term offers / Re: Hashkings Lending,Deposit 1.25% INSURED, ALL PPT ACCOUNTS CLOSING ON 8/19 on: September 11, 2012, 03:44:41 AM
LOLZ.  Yeah... not sure what to say there.

Have a good night. Smiley
8211  Economy / Long-term offers / Re: Hashkings Lending,Deposit 1.25% INSURED, ALL PPT ACCOUNTS CLOSING ON 8/19 on: September 11, 2012, 03:42:40 AM
NEWS FLASH:  I didn't expect anything more from someone who blatantly lies to his depositors and steals their interest.  

I will leave your thread alone.  Funny a 16 year old kid was able to pay his debts in full, paying all creditors equally, and making them whole.   You are in a hole and still digging.  

Some people are just garbage and always will be.
8212  Economy / Long-term offers / Re: Hashkings Lending,Deposit 1.25% INSURED, ALL PPT ACCOUNTS CLOSING ON 8/19 on: September 11, 2012, 03:35:08 AM
Just sent out a bunch of prinicipal payments.  

Youre doing it wrong.

Why am I doing it wrong?  Why is your way right?

Its not his way it is the universally accepted legal and right way.
Say you only pay back 1,000 BTC and then git hit by a bus and die.
So the creditors who were luck enough to be at the begining on the list get paid in full while other creditors get stiffed - nothing.
If you were at the end of the list would that seem fair and equitable to you?

Also (looking at it for your own benefit) creditors at the end of the list really have no chance in hell of getting anything in the near future.  So you create a sitaution where there is really no downside to "negotiating" a settlement.  Either in court or in person.  Paying all your debtors equitably is in your own best interest too.

NEWS FLASH:  YOU ARE AN INSOLVENT DEBTOR.  How you want to do things is irrelevant.  YOU OWE CREDITORS AND ARE IN DEFAULT OF YOUR CONTRACT.
If you have any integrity or decency you would be looking to resolve your debts in an equitable manner.
8213  Economy / Speculation / Re: iPhone 5: Will People Cash Out on Bitcoins? on: September 11, 2012, 03:28:35 AM
That conclusion is just silly.

The iPhone uses a custom processor.  So the company patents a phone based on prior work of Apple, which contains none of the components of the iPhone and you honestly thing this two bit nothing company will keep Apple from launching their product.  As much as I hate Apple for closed systems they have on the most impressive legal departments in the world.  Apple probably spends more on lawyers in a year than "GooPhone" takes in annual sales.
8214  Economy / Long-term offers / Re: Hashkings Lending,Deposit 1.25% INSURED, ALL PPT ACCOUNTS CLOSING ON 8/19 on: September 11, 2012, 02:15:02 AM
I will be paying out alot of the smaller accounts in the next couple of hours.  This payments will only be prinipal payments.  If someone has received interest it will be deducted from their payment and will be paid later so I can at least get everyone's principal back.

Generally it is considered unacceptable to pay some creditors before others.
Did you notify your creditors prior to deposit that smaller account holders would be considered senior to larger account holders?

All creditors should be repaid on a % basis.  If you can pay 100 BTC then the creditor who has 10% of all debt gets 10% of the payment, the creditor with 0.5% of all debt gets 0.5% of the payment.

In case you need some assistance this 16 year old can show you the proper way to resolve your delinquent debts.  
https://bitcointalk.org/index.php?topic=83679.0

All you wannabe "banksters" should read the thread and take notes on how to handle our outstanding debts properly.
Also for the love of god can you edit the title of the thread so it no longer laughably says "insured".  It never was insured.
8215  Economy / Currency exchange / Re: FastCash4Bitcoins Support Thread (Update: funds added) on: September 10, 2012, 11:06:24 PM
Out already? Damn.

Yes.  Moved almost $18K in a few hours.  We had another wire clear but I want to give my partner some time to liquidate some of the coins as we are now long almost 2,500 BTC.  More funds will be available in a few hours.
8216  Economy / Service Discussion / Re: Discussion about 10,000BTC Bet (Official) on: September 10, 2012, 10:40:38 PM
Just because someone offered a PPT doesn't mean they were a scammer. The PPT OP's were taking a risk themselves. They offered a service investing in Pirate for a cut. They didn't run off with your money. Frankly, based on the evidence we have, I don't believe Pirate can even be labeled a scammer. It was part of the contract that he could declare default at any point, rendering the contract null and the money 'gone'. We don't know if he legitimately defaulted or not.

Well he iterated over and over that it wasn't a ponzi.  If it indeed was a ponzi that is enough fraud IMHO to be considered a scam.  Now we may never know for sure but given it acted like a ponzi, broke like a ponzi, the money is gone like a ponzi, and just happen to coincide with the dates of a massive national ponzi collapsing I think the burden  of proof if on him to show it wasn't a ponzi.

8217  Other / Beginners & Help / Re: need 20 bitcoins- 250$ USD via paypal on: September 10, 2012, 09:37:39 PM
Then i can send as 1 payment of 250$ and then open a dispute and close it right away.

disputes cant be reopened right>?

Can still be charged back by contacting your credit card, or using a hacked/stolen PayPal account, or claiming your account was hacked/stolen, or by a half dozen or ways.

Pretending that ANY PayPal tx is irreversible is simply dishonest.  It makes you look less trustworthy by making those kinda of claims.  Someone will simply need to trust you.  
8218  Other / Beginners & Help / Re: need 20 bitcoins- 250$ USD via paypal on: September 10, 2012, 09:32:46 PM
Information for the uninformed:
Gifts can be disputed.  You can lose funds sent to you by gift payment.

Anyone claiming otherwise is either equally uninformed or spreading misinformation.
8219  Economy / Currency exchange / Re: Bitcoins Direct - Private off exchange sales. on: September 10, 2012, 08:04:05 PM
Email sent I also forgot to ask how long does LR funding take?

Usually completed within a few hours (can be a few minutes if a partner is online at the time your deposit is made).  However at this time we aren't accepting LR.  The closure of Bitfloor has negatively affected our liquidity and until we get our primary accounts "in shape" we won't be accepting deposits from LR.  I will ensure the first post gets updated to reflect this.
8220  Other / Beginners & Help / Re: Looking to insure my glbse investments where should I post my request? on: September 10, 2012, 07:15:15 PM
I have some investments on GLBSE and would like to insure them.
Where should I post my request?


Given even insured asset to date has failed when faced with a financial stress what makes you think any insurance will be worth more than the paper it is written on?

TommyBoy "analysis" of guarantees seems very applicable for Bitcoin guaranteed or insured investments.
http://www.youtube.com/watch?v=cf4C9ssuPjE
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