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961  Other / Beginners & Help / Re: where should i invest 1 btc ? on: July 13, 2014, 06:47:03 PM
Buy XMR, I did that. It's very cheap right now.

woot, that XMR coin has dropped over 70% for the past 3 weeks. Smiley

Well, it was a pretty phenomenal pump beforehand. Now is the dump. Question is, was it just a pump and dump, or can we expect this to later be seen as a time of "cheap coins"? Only time will tell. Smiley
962  Other / Off-topic / Re: What Do Philosophers Do? on: July 13, 2014, 06:45:12 PM
Philosophers try and explain the world around them using their MINDS and the tools of logic and various analytical theories. Nobody makes any money at it, so it is an avocation, rather than a vocation.

Well, it's an avocation for most, yes. A lucky few get to have nice, cushy academic research and teaching positions. What I'd give to live the life of a professor. Not many job openings once you finish your training. Smiley
963  Other / Archival / Re: [help] how to get 1 btc in 1 week on: July 13, 2014, 06:42:14 PM
Hello Guys i'm searching for a method to get 1 btc in 1 week, any method ?

thanks

From skimming the thread, you have $11. That's unfortunately not going to get you far. Maybe you have something you can sell in the marketplace forum for BTC, or locally? If you had more than a week, I'd say stick around the forum a while and join a signature ad program when you are a Member+. For now, 777coin is open to newbies. https://bitcointalk.org/index.php?board=52.0
964  Other / Off-topic / Re: Will downloading torrents give you spyware/malware? on: July 13, 2014, 05:37:11 PM
Although windows 7 and 8 are considered not so vulnerable to viruses, they still can be infected.

Since when are Windows 7/8 considered "not so vulnerable"? Maybe if you are only comparing to XP or something, but I'd say you have to be especially careful when using a Windows machine.
965  Other / Beginners & Help / Re: Getting paid for signature space? on: July 13, 2014, 05:35:03 PM
usually you have to be at least a member

777coin accepts everyone but it's really low paying

you can insert your own referral link though..

Referrals can add up. And IMO, newbies should be happy considering a month ago, there were actually zero options for newbies and jr. members. So, we have some progress for you guys. Smiley
966  Economy / Services / Re: klee's hacked 1170 btc, Part II on: July 13, 2014, 05:33:24 PM
Agreed - a thief is not a "hacker" (according to the original meaning of hacker which we have spent many years "reclaiming").

So - I would ask the thief to return 90% of the funds (10% as a *lesson* for Klee about securing his assets seems fair to me).


Unfortunately, we're not dealing with Robin Hood here. Everything about this says to me that the thief is just stringing along to give the least amount possible in order to halt any investigation.
967  Economy / Speculation / Re: This Bitfinex Credit Bubble cannot end well on: July 13, 2014, 05:28:55 PM
Well they've been effectively allowing more leverage than intended by calculating swaps this way. Bitfinex never was very good at math. Tongue Maybe they're finally starting to worry about the risk they are exposing themselves to by having such a shallow book while allowing so much leverage.
968  Economy / Speculation / Re: COIN ETF effect on USD/Bitcoin on: July 13, 2014, 06:32:07 AM
Won't 'the whales of wall street' also be able to effectively short Bitcoin now too? I think it's going to lead to a lot more volatility.

How do you short bitcoin using an ETF (besides just selling your ETF shares)?

Couldn't you leverage assets to borrow ETF shares to sell? Just like shorting bitcoins, except ETF shares instead? I would think down pressure on the ETF price would cause similar pressure on exchanges. Maybe I'm missing something here.
969  Bitcoin / Bitcoin Discussion / Re: Expect banks to start becoming more BTC friendly.. on: July 13, 2014, 05:51:20 AM
In reference to the OP, I would not be entirely surprised if the OPs father worked for Chase, or another Bitcoin "hostile" bank as even banks that are not friendly to bitcoin have a legit need to understand bitcoin and the bitcoin economy.
Thank God there is one person on this forum with half a brain...

I guess the rest of us don't have a brain, just because we didn't nod along with OP's storytelling.

Right? I mean, it's plausible and everything, but there's really no reason for us to eat it up with a spoon. And there's plenty of bagholders around trying to do anything they can to pump the price. Smiley
970  Economy / Speculation / Re: This Bitfinex Credit Bubble cannot end well on: July 13, 2014, 05:24:49 AM
https://www.bitfinex.com/pages/announcements

Quote
Daily Settlement: Up until now, swap interest to liquidity providers has always been paid daily, but swap interest from traders is only collected when the positions is closed. While this makes sense from a certain perspective, it has the unintended consequence of effectively putting Bitfinex in the position of making 0% loans to cover the payments imbalance created by large “unrealized swap” balances, which really should be serviced by the P2P facility that we already have in place. Moreover, from a balance sheet perspective, we feel that it simply makes more sense to match the frequency of the collection and payment process. In order to implement this change, traders will need to select how they wish these daily payment to be made. The system will support a new variable for each position, “Swap Type”, which can have one of two values:

Daily (default): Swap interest will be automatically deducted from the collateral in trading wallet of a daily basis. If the correct currency is not present, an appropriate conversion will be performed to satisfy the payment.
Term: Swap interest will be capitalized in to position every night by automatically accessing swap offers to cover the required payment.

Existing positions will be phased into this process, with daily “catch-up” payments of no more than 10,000 USD.

These first two changes will be active on the 21st of July, 2014.

Curious to see what effect this has on price action. If I understand correctly, if you are fully leveraging BTC to hold a margin long position, under the default setup, Bitfinex will deduct the USD equivalent from your trading wallet to cover swap on a daily basis. Whether they then hold the BTC or liquidate it, I don't know. That last bit seems like something large position holders would want to pay attention to.
971  Bitcoin / Bitcoin Discussion / Re: Expect banks to start becoming more BTC friendly.. on: July 13, 2014, 05:18:27 AM
Banks, et al., are taking notice of what is happening in the bitcoin world. USMS just auctioned off some property for which a savvy fellow ponied up millions. Bitcoin or something like it is the future.

Totally. Lots of people saw that auction as bearish news, but it was super bullish in my eyes. US government stamp of approval. Clearly, smart money is getting positioned, and the financial world is taking notice.
972  Other / Off-topic / Re: Do You smoke? tobacco/weed on: July 13, 2014, 05:16:20 AM
It can cause lung cancer, heart disease, and (chronic) respiratory disease.
Most of the smokers knows about the consequences of smoking ,  but they just don't give a damn about it.
 Anyways I have cut down my addiction to 5-8 cigs  a week from 3-5 a day since I made this thread.

It's not that I don't give a damn about it. I'd rather not smoke. I mean, I do enjoy a good natural hand roll from time to time, but I mainly smoke cigarettes only at work -- a few a day. If my day job weren't so stressful, quitting would seem a lot easier. Bitcoin to 10k -- then I can quit my job AND cigarettes.
973  Other / Off-topic / Re: Why have you joined Bitcoin? on: July 13, 2014, 05:13:40 AM
It's all about that cold cold cash.

It's ironic because Bitcoin is all about providing an alternative to fiat. But it seems that most people in the Bitcoin community are only (or primarily) interested in Bitcoin because they see it as an opportunity to increase their fiat.

Well, it may not just be fiat per se. It could be purchasing power. The distinction right now is that bitcoin can only be spent on so much. But when it can be used to purchase everything that fiat can, at scale, things will look much different.
974  Economy / Trading Discussion / Re: What is the BEST way to buy bitcoins with Paypal? on: July 13, 2014, 04:32:03 AM
You can buy BTC with Paypal on Virwox, but the fees are high and your starting limits will be pretty low. I don't really recommend it. You could find reputable sellers on LocalBitcoins, but you'd probably pay a hefty premium, even if you have some level of reputation.
I don't think many/any traders on LBC will accept paypal for payment as the long term risk to them is simply too high.

Virwox does work for using paypal to buy bitcoin but the high fees make it so it really doens't make sense. Your best bet would really be to simply withdraw your BTC to your bank account and deal with someone locally.

I don't know where you're looking on LBC, but there's definitely traders who take Paypal. But like I said, the premium is hefty and not worth it. I agree, best to either withdraw to bank account to use cash locally, or to send cash to an exchange.
975  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 13, 2014, 04:30:11 AM
The correct action then, is not to short BTC (which continues its inexorable exponential rise) but to short mankind, which apparently peaked around 1969.

Haha, okay I am sort of with you on this. But how does one short mankind, exactly? I've got some funds set aside. Smiley
976  Economy / Speculation / Re: oh no another fake pump. on: July 13, 2014, 04:28:30 AM
not seeing the failure. i think we broke out and will continue up a while. China is just sleeping. Wink

Fuck China.

Why does everyone reference "China" as if it's some great Chinese conspiracy?


Well, if you pay any attention to price action, all exchanges follow Huobi and Okcoin, completely. In the last month or so, it's been a complete tit for tat -- more so than in previous months -- western exchanges have lost all pulse and are following like zombies.
977  Economy / Trading Discussion / Re: what exchange do u use? on: July 13, 2014, 04:09:24 AM
I use BTC-E, Bitfinex and Bitstamp. I prefer BTC-E for its superior trade engine / lack of lag. But for liquidity's sake, and also to not keep all my eggs in one basket, I spread my trading portfolio around a bit.
978  Economy / Trading Discussion / Re: What is the BEST way to buy bitcoins with Paypal? on: July 13, 2014, 04:07:34 AM
You can buy BTC with Paypal on Virwox, but the fees are high and your starting limits will be pretty low. I don't really recommend it. You could find reputable sellers on LocalBitcoins, but you'd probably pay a hefty premium, even if you have some level of reputation.
979  Bitcoin / Bitcoin Discussion / Re: Expect banks to start becoming more BTC friendly.. on: July 13, 2014, 02:59:54 AM
I believe it. My dad is one of the richest 100 people in the world, and he told me all his rich cronies are loading up on bitcoin as we speak. You heard it here, gentlemen. Buy buy buy. Wink
980  Bitcoin / Bitcoin Discussion / Re: 40 minute BTC block time - No big deal on: July 13, 2014, 01:37:14 AM
35 minutes and counting now. Roll Eyes I swear, it seem like every time I send a bitcoin payment, I'm one of the people stuck waiting an hour for a single confirmation. C'est la vie....

48 minute block time there, I was waiting for that one too. THEN the next block contains only ~500 transactions, not including mine. Now another 26 minutes and counting. Damn you, bitcorn!
As long as your transaction has been propitiated throughout the network and it includes a proper TX fee it will eventually be confirmed by the network

(propogated?)

Yes, but the point is, it's quite frustrating when a vendor requires 1+ confirmations, and you're waiting well over an hour. I'm aware that a tx with a miner's fee will eventually be confirmed. That's not the point. (Plus, tell that to those with transactions in an orphaned block!)
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