Primates take note:
So what are you, some kind of lizard man? That's not PC. They prefer to be called follicle impaired. |
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what i dont get about ripple is when some one doesn't want to pay up...then what, and they were your trusted gate way...
This is not a problem if the amounts you grant in trust aren't excessive (that is you can afford to lose them) and if you only grant trust to people you trust in the real world. Gateways are just special users that are trusted by many people, like banks. Well, not many people here might trust banks and I would argue they should trust gateways even less. Within Ripple, whenever you trade anything besides XRP, you have counterpart risk and vice versa. This is because Ripple can only do bookkeeping, and the "official ledgers" for fiat currencies are not stored in the Ripple system. This would be an argument for using XRP. On the other hand, you don't have exchange rate risk if you are trading in fiat. For fiat payments, Ripple is "just" a distributed system for keeping track of who owes what to whom. For example, if A trusts B for $10 and B trusts C for $10, then C could pay A through B. C's balance with B would be decreased by $10, meaning that C now owes B $10 more than before, or B owes C $10 less than before. Simultaneously B's balance with A would also be decreased by $10. Assuming all balances started at zero, A would now be owed $10 by B instead of by C, which is an improvement because he didn't trust C, but does trust B. Similarly, C now owes $10 to B, which is also an improvement, because C can now expect shipment of whatever goods he was promised because A does trust B. B's total balance hasn't changed, because previously he had two zero balances, whereas now he has one for +$10 with C and one for -$10 with A. For B this is not immediately an advantage, because he doesn't gain from the transaction but does have to do work for it. However, in practice you would expect B to be on either end of some transactions too, and then someone would return him the favour. All three parties will want to settle the open amounts to take care of the credit risk. They could do so immediately, or they could wait a while until more transactions have passed through the network and have partially canceled out. This would mean less work. I may be wrong, but then if the gate was shuts down, or the ultimate trsuted person in the chain or possibly anyone in the chain that I needed to ge to the gateway I am stuffed.....all over it seems there would be a point where it would be more profitable for a gateway to shutdown, having lots o btc then trade, so there would be an (increasing?) economic insentive at some point to not not be a trusted gateway....and run away with my BTC. I realise I have he same risk with say gox or btce holding my BTC, but in Ripple is it the case I can have any number of small enties any of which would say, I out thanks for your BTC...! The greatest thinkers in history couldn't develop a system that effectively eliminates the failings of the human element. |
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So, are you full of shit at no extra cost or are my tax dollars paying for that too?
Your tax dollars are being used to prevent criminal organizations and terrorists from laundering money across the globe. Well, if it my money that's paying, make sure you torture those nasty terrorists like you did at Abu Ghraib for me. |
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This conference was definitely worth the price. So much material being covered.
The ability to hobnob with all those people you frequently irritate must have been priceless.lol Lol well I had a shirt on that said "I am a smoothie". Didn't have any problems. The conf is too big for that stuff. Very good turn out! Yeah, I crashed the event at the Hotel Kabuki in SF one year. They were well dressed in casual professional attire. I had on old jeans and a Bitcoin t-shirt. I looked like a hobo compared to them. lol But they were all very nice. |
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You make it sound like regulations are purposefully difficult to comply with.
No, it's simply a side effect of dealing with finances internationally. You have to comply with your own countries laws as well as the laws in any country you are dealing with. FATF/UNODC/IMF recommendations need to be taken into consideration as well. So, are you full of shit at no extra cost or are my tax dollars paying for that too? |
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Is it oldest first or newest?
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This conference was definitely worth the price. So much material being covered.
The ability to hobnob with all those people you frequently irritate must have been priceless.lol |
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I just got this too. What's going on?
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Was that always there or is it new?
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Greetings, I've been recording amateur videos of the conference as I go along. Professional videos should be out in a week or two by bitcoin foundation, but for those who couldn't make it, here's some shaky but watchable videos. I will keep uploading more over the next few days. Enjoy! If you are feeling generous, please tip/thank me here: 185By4a1Lt2HnKLAKR5EmidZMYgp5DDSaj BITCOIN 2013 FUTURE OF PAYMENT VIDEOS: http://www.youtube.com/user/digitalmagus7/videos?flow=grid&view=0 Great videos, thanks for sharing. You really provide a feeling of being there. I was a little worried that someone would run you over when you crossed the street early with no sidewalk on the other side.  |
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I'm in the Bay Area, is this worth going to San Jose for if you are not going to spend the $300 to actually go in the event?
The $300 entrance fee actually makes it more of a Bitcoin elite/high society club. Why don't we "commoners" get together at Singlebarrel on San Salvador st Saturday night? If the lords & ladies of Bitcoin Abbey want to come too that's fine. All right, I am going to try and head out there tonight and hopefully meet up with forum members(I'm not attending the convention). Does Singlebarrel on San Salvador work for other people as well? Where are you all going to be at? I had to work and couldn't get back to town in time but I do suggest Singlebarrel. They have the best drink menu in town. If you do go order the Penicillin. You won't be disappointed. |
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The must see panel:
Issues of Regulatory Compliance
Hope it was recorded.
It was being recorded not sure how/when it will be made available. I was surprised by the number of participants. Has foundation stated how many tickets were sold? My guesstimate is that is 300 to 500 but with some many simultaneous events going on it is hard to judge. So far a great conference, with great speakers, well worth the price of admission. Thanks - rub it in with salt. |
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I have bought off buybitcoinaustralia twice now and it didn't even take 10 mins. As soon as my transaction was complete the coins appeared in my wallet. I didn't really want to wait and I was only purchasing a small amount so an extra 3.5% really was not a lot of money. I did look at spendbitcoins but I had to go into a bank to buy them and as its the weekend I would have to wait till Monday to do that. Also their rate is 10%. I also dont have a wife to Pap smear.  LOL - good, I'm glad you guys have another option now. Hooroo |
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Gox is slow and pretty much wants to do a Pap smear on your wife before they will deal with you. Spendbitcoins, for example, is pricy but they're fast an have no buy requirements up to 5k.
Yeah MtGox really wants to know who you are, however is this not a legal requirement? If a service is getting you Bitcoins without getting your details does this not mean they are operating semi-legally? Or has this not been tested yet in court? I suspect Australia AUD to Bitcoin transaction business would be a money transmitter even under Australian law... It is a legal requirement but Jeremy has been doing it for years without a problem. I've bought from him many times and he is a very honest/reputable person to deal with. Besides I don't think Australian authorities are as Gestapo as USA is. |
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Ah, someone figured out Jeremy is making a lot of money servicing the Australian market and decided to join him.
I don't understand why people are paying so much for Bitcoin.... MtGox already services the Australian market. Gox is slow and pretty much wants to do a Pap smear on your wife before they will deal with you. Spendbitcoins, for example, is pricy but they're fast an have no buy requirements up to 5k. |
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Ah, someone figured out Jeremy is making a lot of money servicing the Australian market and decided to join him.
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Can you buy the cards with fiat preloaded in different denominations? That's the only way I can see them having much value at this time.
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*snip*
Trace Mayer had some good information in his section this morning "legal classification of Bitcoin"
I couldn't get away from work. What did he say? He said a lot. Bitcoin can be classified differently based in your approach in the legal system. Also he said your private key is like freedom of speech. Cool - I hope someone recorded that. |
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*snip*
Trace Mayer had some good information in his section this morning "legal classification of Bitcoin"
I couldn't get away from work. What did he say? |
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