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http://blog.mpettis.com/2014/10/are-we-starting-to-see-why-its-really-the-exorbitant-burdenHowever, I don't get the "unemployment" part. Overinvestment and overconsumption I get - if you have some extra/free money [because you own the printing press], you can either invest it or buy some stuff with it. There is no third choice, really. But why any of that should lead to unemployment? The opposite, one would think, makes more sense - more investment should create more jobs. Somebody please explain.
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I can write .Net client library for your API.
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They're becoming more interested in what the coins are used for. People who have been transferring directly to and from websites like Seals with Clubs have been having issues. This is really just the U.S. government sticking their noses in Coinbase's operations. They don't want to end up like a bunch of Charlie Shrems.
Use an intermediary wallet when transferring to and from Coinbase if what you're doing isn't 100% cool under the U.S. government.
The problem is that whatever was cool yesterday may be "not cool" tomorrow. Or, is it cool if I simply ignore those questions? |
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Would u mind posting the full contents ie senders email at coinbase, there name/title etc The sender email is support@coinbase.comI quoted all that is essential. The rest is just a standard template bullshit about how they appreciate me being their customer and how happy they are to help me. |
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Today I received a message from Coinbase with the following demands (and a threat, right from the start, to "disrupt" the service to my account): ...provide us with the following information within 7 days to avoid disruption of service to your account:
- Please briefly describe the primary use case for your Coinbase account
- Please describe the source of the bitcoin being deposited into your account that was not purchased through Coinbase
- Please indicate the source of funds for your purchases of bitcoin
- Please elaborate on the nature of your outgoing transfers and what services they are related to My reply was, of course, mind your own fucking business (not that I actually sent it), but why now? My last transaction via Coinbase was more than a month ago. Looks like something is going on under the carpet. Anyone else received this? |
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Dear Coinapult,
Please explain who gets the difference between future price of bitcoin ($646 for December contract, according to icbit.se) and the current price ($578). According to my calculations, it is 12%, not 1-2% you have mentioned.
In other words, if I move one bitcoin to icbit.se and short December contract, I get $646 worth of bitcoins in December. With you, I only get $578 minus fees and spread. (In fact, I don't even have to move whole bitcoin to icbit.se, only 1/leverage worth of bitcoin).
Bingo. This is less about "making the world a better place" and more about certain co-founders making back what they lost in the Mt. Gox implosion. Locks is not a futures contract with a specific date at which it can be redeemed. Users can unLock their coins at any time. A futures contract would demand a price premium because the bitcoins are irredeemable for an allocated period of time. this is simply not true. cryptoexchanges work 24/7, so user can close his position any time he wants. Locks allows basic Bitcoin users the ability to protect their value from fluctuations so does selling futures, and with much better results, it seems. without having to be a professional trader. you don't have to be a professional trader to realize that having $X worth of bitcoin is better than having $X - 12% worth of bitcoin. but I get your unspoken point - you've meant to say that your service is targeting users who are so dumb that they can't figure out how to sell futures on icbit.se. nice business model, bro. |
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What crap-a-pult fails to mention is that paid debit cards that are being rolled out by exchanges, notably Chinese based ones, allow anyone to have a method to use their funds without a bank account.
But of course, they wouldn't dare mention it, as it would become quite obvious that their only intention is to skim their margin from users anyway.
Hi TraderTimm, In our above post, we specifically detailed why Locks is quite different from working with an exchange. How would you recommend a farmer in Ghana, with no bank account, sign up for a Bitcoin exchange account? In addition, the charges that are associated with these debit cards seem to be in the same range as Coinapult's spread for Locks. Dear Coinapult, Please explain who gets the difference between future price of bitcoin ($646 for December contract, according to icbit.se) and the current price ($578). According to my calculations, it is 12%, not 1-2% you have mentioned. In other words, if I move one bitcoin to icbit.se and short December contract, I get $646 worth of bitcoins in December. With you, I only get $578 minus fees and spread. (In fact, I don't even have to move whole bitcoin to icbit.se, only 1/leverage worth of bitcoin). |
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It's a serious threat to the bit coin ecosystem if Russia or China decide to switch off their servers.
Give us a break, Russia is of zero positive significance to the bitcoin community or the currency. Except that 90% of network hashing power is produced by hardware based on BitFury chip invented by russian. What so they are going to uninvent their chip? or restrict it? you think there are not a zillion KnC's out there drooling to fill that void? get real.... I am not sure what you point is, but if I had to assign "zero significance" label I'd rather assign it to the zillions that are just drooling than to someone who actually invented the best mining chip out there. |
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It's funny in it's own way: Global Payments use of bitcoin will accelerate bitcoin taking over traditional financial services (like Global Payments)  |
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Duplicate. Already discussed in this forum. Only idiots will use this service.
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It's a serious threat to the bit coin ecosystem if Russia or China decide to switch off their servers.
Give us a break, Russia is of zero positive significance to the bitcoin community or the currency. Except that 90% of network hashing power is produced by hardware based on BitFury chip invented by russian. |
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How is it different from selling futures with 1:1 leverage?
Well, one difference is that a futures contract has an expiration date. you can always roll forward. btw, bitcoin futures market is in heavy contango, so they just pocket the difference between the present and future price. nice gig if they can find customers that stupid. Another is that you never actually exchange bitcoins for anything.
futures settlement is also in bitcoin, so no difference here. |
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How is it different from selling futures with 1:1 leverage?
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Any government that creates it's own cryptocurrency is only making it easier to move currency into bitcoin. This will backfire for them. /popcorn
yeah, makes sense. viva la ecuador! |
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i'm sure my antivirus will take care of this type of virus
this is beyond stupid |
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This article sounds all fancy, but it misses the context of 'Trust'. In crypto world, we dont need intangible trust as it built into the paradigm, effectively replacing an intangible trust into something calculable and tangible.
except that we have no choice but to trust ghash.io when they say they are at 40%, because there is no way to verify that number. |
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A new committee is expected to be organized by GHash.io and its digital currency exchange arm, CEX.io, that direct funds and coordinate efforts on a permanent means to address the problem.
They are just going to hide their hashrate behind another IP and no one would know, and what good will the new committee do if GHash and CEX is heading the committee? exactly, but why the future tense? there is absolutely no reason to believe they are not doing it already. |
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bitplastic is (was?) obviously a scam. anx is a hong kong based exchange with miniscule volume and huge spread as a result (like $648/$615 as of now). even if they don't charge any other fee, owner of debit card will lose ~5% just on a spread. xapo is not disclosing the details of the btc -> fiat conversion at all.
so far, it seems that the best option is still to control btc -> fiat conversion manually, e.g. to have regular debit card linked to checking account and to refill that account from high-volume/low-spread exchange (bitstamp or btce where spread is less than $0.6/0.1%).
it seems like solid exchange is currently a necessary foundation for many services that can be built on top. which either creates unnecessary dependency on the "exchange of choice" or forces companies to deal with issues that are not their core business. it seems we need a service layer on top of exchanges that would allow companies whose core business is not exchange to use that layer to perform low-spread btc <--> fiat conversion without bothering to even know which particular exchange was used to perform a conversion "behind the scene".
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somebody stop Andreas before he derails completely.
He certainly has a few things he needs to learn about economics, but nearly everything else he talks about is absolutely correct and logically sound. When it comes to the mechanisms of inflation/deflation, he really should do a little more reading and research before he gets himself into trouble. He seems to go so far as suggesting that bitcoin is not at all deflationary, which is just an embarrassing statement. However, you do not seem to have any argument at all, so I guess Andreas wins this round if you don't try and come up with something of any substance against him. what I meant about this particular video is the tone Andreas chose. look at the listeners in the video. they are embarrased, but too polite to get up and leave (well, some of them left anyway). you simply don't use language like "it doesn't fucking work" in any public lecture like this. there was another recent video in much less formal setting; Andreas was more relaxed there, but even then he didn't swear that much (or at all). to recap, it seems that Andreas lost [hopefully, temporarily] some situational awareness, chose wrong language, and in general seemed to be derailed by something. it is easy to cross the line after which any evangelism turns into it's opposite (e.g. "if this moron promotes something, I better keep away from it"). again, I am not saying that Andreas is moron, I am saying that this video brings him closer to that line. hopefully somebody will stop him before he derails completely. |
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