People have a strange perspective on how efficient banks are. I have worked in an accounts department for a major bank and there was no attempt to collect closed accounts (never mind those residing in foreign countries). Post to bad debts, roll up and write-off each quarter. You have to remember that all accounts have a 90 tolerance or this will be included in the 'Value at Risk'.
Can you please explain about this more? What is a 90 tolerance? |
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Dhaka: Bangladesh's central bank warned against dealing in bitcoin, saying anybody caught using the virtual currency could be jailed under the country's strict anti-money laundering laws. The Bangladesh Bank, which regulates the impoverished country's banking industry, said it issued the order after reports in local media of Bitcoin transactions through various online exchange platforms. "Bitcoin is not a legal tender of any country. Any transaction through Bitcoin or any other crypto currency is a punishable offence," the bank said in a statement Bank officials told AFP separately that anyone found guilty in Bangladesh of using Bitcoin could be sentenced to up to 12 years in jail. Launched in 2009, Bitcoin is a virtual payment system launched in 2009 that can be used to pay for goods from a computer or mobile device. Backers say virtual currencies allow for an efficient and anonymous way to store and transfer funds online. But virtual currencies, most famously Bitcoin, have come under increasing scrutiny by financial regulators as their popularity has grown. Several countries have warned users of the risks associated with Bitcoin, such as their susceptibility to fraud because of the difficulty of tracing transactions. Last Friday, Europe's top banking regulator called on the region's banks not to deal in virtual currencies until rules are developed to stop them being abused. SOURCE " http://ibnlive.in.com/news/bangladesh-says-bitcoin-users-could-be-jailed-for-up-to-12-years/499445-11.html" How come this be true ? I have read that they have their own Bitcoin Foundation which has Roger Ver as adviser on board !!! http://www.bitcoinbd.orghttps://www.facebook.com/BitcoinFoundationBangladeshThe foundation has nothing to do with the government. |
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I went to Inside Bitcoins this week. There was a cryptographer ( http://insidebitcoins.co.uk/london2014/speakers/#p2887 ) presenting and he predicted this: "The digital signature scheme of bitcoin with SHA256+secp256k1 ECDSA will be broken before 1 September 2015 by cryptography researchers. The attack should allow to forge digital signatures for at least a proportion of 1/1 million bitcoin users and steal money from them. It should be done faster than 2^100 point additions total including the time to examine the data." You can see the details of it here: https://www.betmoose.com/bet/bitcoin-cryptography-broken-in-2015-791What do others think of this? |
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Bitcoin may not be ready for the majority of people. Right now it's definitely usable and convenient to us. But its market value is volatile, it's hard for non-technically-minded people to understand, and it's totally different from the fiat they're used to. So it'll be "stealth phase" for a long time, IMO.
Not as long as you think.  OP is correct, we are in the "stealth phase" Bitcoin 101: Why Bitcoin's growth is normalCan anyone tell me why this is called an S curve? It barely resembles an 's'  |
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Thank you for contacting Restoration Hardware. I am delighted to know that you enjoy our pieces, and that you wish for us to receive Bitcoin as payment.
At this time, please be advised that we offer a variety of payment options, and I would be happy to submit your request for us to pursue Bitcoin.
Please know that I have noted your comments and forwarded them on to the appropriate department.
We always strive to offer our customers the best products and services possible. Your comments will help us to better achieve this goal in the future.
Please let us know if you need further assistance via email at webcs@restorationhardware.com or by calling 877-777-7059.
Again, thank you for contacting Restoration Hardware.
Sincerely,
Stephanie Goldsmith
Email Customer Advocate
Restoration HardwareIt would be cool if they actually looked into adding BTC as a payment option, as to my knowledge, there aren't any higher end furniture stores accepting BTC. Anyone else shop there? Maybe if additional people asked...it would help steer them in the direction of BTC acceptance? simply emailing webcs@... is good, but also i would advise you to find the CFO and the CEO of the company and email them direct. as no one can be certain that a minimum waged customer adviser is actually going to pass on messages. word it tht you are a loyal customer and find it a pain having to convert your investments ack into dollars, to the pay using a credit card and then pay off your credit card bill. that you would rather pay direct from with bitcoins, and that the company will get atleast $xxxx worth of sales per year because you have plans to buy products x, y, and z in the future Yup they pretty much have no choice but to say they will look into it. The all it takes is one senior member who thinks Bitcoin is a scam to say no |
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I just invested my life savings into Bitcoin
Ur not doing so bad, OP. Only ~6% poorer. You could have done worse. No reason to kick yourself over it. Smart money at Inside Bitcoins has said the ETF is coming this year and will take the price to the moon. I have no regrets so far  |
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This idea that the ETF is suddenly going to launch prices seems far fetched to me. Is it positive and will it bring extra exposure? Sure. The ETF isn't large enough to have any real effect on trading prices though. Not to mention I'm sure the bitcoins have already been purchased for the fund. It's possible the fund could grow, but it would have to grow 100x for it to have a large influence on price. The reason to get excited about the ETF is that you can now earn tax free gains on BTC by buying COIN in a ROTH IRA account.
You should have heard the smart money at Inside Bitcoins saying that the ETF will take Bitcoin to the moon |
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There are two events that may occur in Bitcoin's near future
1) It rallies
2) It fails
Look at the headlines and decide for yourselves what is more likely
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Incognito still uses your history to tailor search results. It simply just does not record any more history. Having said that, using a fresh browser and this thread is #1 for that key phrase |
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Jeez this train is a sucker train. Worse than even I expected. Better dump now, it will not reach 500.
Dump3er (aka fallling) be like:  |
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Thr train just eats up everything, even if more coins were thrown at its face.   I just wish it was a little faster  |
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Some idiot in China will dump to get their $5 profit sooner or later
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Paypal has recently announced that its subsidiary Braintree will now be partnering with the Bitcoin exchange Coinbase to allow payments to be processed through Bitcoin. With such a partnership in place, companies that utilize Braintree to make their payments would be able to trade using Bitcoin, causing an increased demand for the cryptocurrency. Braintree currently handles transactions by companies like Dropbox, Ebay, Uber, and AbirBnB. At the Techcrunch Disrupt conference in San Francisco, Bill Ready, Braintree’s CEO, stated that “This is PayPal making a move to embrace Bitcoin” More @ http://cryptoconspiracy.com/why-paypals-decision-to-accept-bitcoin-through-braintree-is-bad-news-for-bitcoin-users/Sounds like good news to me from your summary |
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The fact that there is such a small number of BTC users in Nepal is an even bigger reason to try and get involved with any sort of business that will utilize the power and benefits of BTC above adopted fiat.
Yup. Set up a brokerage to provide a service for people to buy and sell Bitcoin easily |
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No one really NEEDS money. Let's just use gold
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Who the fuck has never heard of Bitcoin on these forums? |
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80% chance that the next bubble won't appear till we are approaching 2016. We are seriously overbought as you can see from the following chart. About a 50/50 chance that we could even drop below $400 for a few weeks or more. Best scenario for the near future is that we retrace the last few months.
Regardless, I will still continue to HODL. You never know, a couple big whales could show up and push the price back up to near a $1000. The odds of that happening before the end of the year though is less than 10%.
The year 2014 will be known as the year of Bitcoin Fundamentals Growth. Think of this as a good thing. More opportunities for the little guys to get in before Bitcoin does it's final explosion in value. Nobody in the first world will have an excuse for not being rich by the year 2020. I have spread the word to everyone I know. Any of them could scrape up enough money to buy at least one bitcoin. They just chose not to do so. When that time comes and they complain about being poor, I will be able to honestly say that they chosed poverty.
Exactly my take on it. I talk about bitcoin with everyone I know and I always suggest to people to buy some before it becomes too expensive to buy whole coins (which I believe will happen for most people during our next "Bitcoin Boom"). They are proactively choosing poverty and refuse to see the use of bitcoin. Long story short, I've told people to buy at $10, $40, $80, $100, $120, some did and are now doing really well. The rest say I was "lucky" each time I suggested a buy or "yeah you took a HUGE risk". When BTC hits $xx,xxx I can't wait to hear what they will say next  "Bitcoin is a bubble" |
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