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What is the cheapest way to buy 100,000 USD worth of bitcoin? Is it Coinbase? (1% purchase fee) Cost to buy $100,000 BTC = 100,000 * 0.01 = $1,000 (1%) Is it Bitstamp? (~$30 bank wire transfer fee + 0.1% deposit fee + 0.2% trade fee) Cost to buy $100,000 BTC = 30 + 100,000 * 0.001 + 100,000 * 0.999 * 0.002 = $329.8 (0.33%) Is it Localbitcoins? (~5%+ premium over market price) Cost to buy $100,000 BTC = 100,000 * 0.05 = $5,000 (5%) Is it BitYes via EgoPay? (~$30 bank wire transfer fee + $12 EgoPay deposit fee + zero BitYes deposit or trading fees) Cost to buy $100,000 BTC = 30 + 12 = $42 (0.042%) https://www.bityes.com/topic/egopay_deposithttp://www.coindesk.com/huobis-bityes-teams-egopay-fee-free-usd-deposits/ |
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The BitVC Futures simulated trading competition has ended and real trading now begins. For the next 9 weeks, BitVC will hold an Elite Futures Trading Competition. Each week the best traders will receive 20% of all BitVC commission revenue. There will be separate prizes for bitcoin and litecoin futures trading. Details here: https://www.bitvc.com/topic/futures_eliteBitVC Futures: - Price index is compiled by a third party (BTC123.com) to ensure fairness and impartiality. - BitVC uses only CNY exchanges for CNY price index. Other exchanges in the industry combine CNY and USD exchange prices in one index, which has potential complications and inconsistencies due to exchange rate calculations, differences in fee policies, and other factors. - Daily mark-to-market settlement system allows users to cash out more quickly. - Market information, technical analysis tools, order book, and trade functions are all integrated in one user interface for maximum trading convenience. - Precise, real-time risk warning system allows users to effectively control risk and protect their interests. |
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Suppose Monero (or a different alt) were to gain enough traction for it to appear inevitable that it would eventually topple bitcoin. How feasible would it be to fork bitcoin to adopt some or all features of Monero? iow, a merger of the first mover advantage of bitcoin with the technical advantages of Monero. I suppose this question has two parts: 1) What would be the technical feasibility of doing this? and 2) Would the community go along?
It is possible to clone any alt-coin and bootstrap it with a snapshot of the unspent outputs in the bitcoin blockchain using the spin-off method. Using this technique, "Bitcoin the Ledger" could be preserved while "Bitcoin the Payment Network" could be replaced with new technology. When the spin-off is launched, bitcoin users will have coins in both systems. The two coins will trade against each other on the open market. If the community thinks the new technology is not worth the switch, they will sell these "free" spin-off coins, thereby killing the spin-off. If the community feels the technology is a "must have," they will sell bitcoins in favour of the spin-off, thereby transfer the bulk of the wealth to the new network. This is a beautiful idea. If it is technologically feasible, and I am sure it is, I see no way how an altcoin technologically superior to bitcoin would be able to hold its ground against an identical spin-off which includes the bitcoin ledger. Are there any convincing arguments against? |
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Basically China hoardes gold because it's a no lose situation for them. Being one of the largest holders of USD debt as well as one of the largest stockpilers of gold put's them in a unique position to ultimately make a play on the USD as world reserve currency. Just imagine Russian based oil sold for some Chinese denominated coin backed by actual gold?! Stormy sea's on the horizon for our little Island of consumption I'm thinking.
China only missing 2 more elements replace USD. 1) A military capable of defending itself. 2) Oil reserve. Once they have both, US will be at its mercy for economy survival. 1. The US military couldn't even conquer the Taliban, China has nuclear weapons. 2. China will end its oil dependency before the United States. (Compare their energy policies.) |
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Same reason anyone buy gold: they think the economy may get in trouble in the future, and they are preparing for some fiat strong devaluation. Difference is that they have the secret service and an army of people to make economic plans and collect information, and ways to e active agents. All the same China could opt for a compromise position, something like Chinese Bitcoin; a digital exchange currency backed by gold. I'm actually surprised someone hasn't done this already and China would definitely have the resources to make that happen.
Hashdollar was a try in that direction, and was a complete failure. But also has not been launched by a major economic power. Ecuador launched their own crypto, while turned holding , buying and selling any descentralized currency illegal Depending of the results of the new Ecuatorian law, it may influence other countries to do similar. http://www.coindesk.com/ecuador-bans-bitcoin-legislative-vote/There is nothing that indicates that the new digital currency of Ecuador will have any of the characteristics of a cryptocurrency. It is highly unlikely that it will be decentralized, transparent, algorithmically-constrained, or that users will be able to control their private keys. |
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There should be a new NXT which is initially distributed according to the bitcoin blockchain, as described by Peter R ( https://bitcointalk.org/index.php?topic=563972.0), rather than IPO. Assuming the blockchain bootstrap could be implemented, that would have all the great features of NXT while incorporating the entire bitcoin investor base. Whichever 2.0 coin does this is the one that will win. Interesting idea there. It may be that a usurper uses this route to dominance in later years. But lets be honest that isnt going to be popular with users of altcoins that have bought in specifically to acquire early adopter status in the nxt big thing. Anyway this is a bitcoin forum. Can we get back on topic please! But it will be very popular with bitcoin users, and there are a lot more bitcoin users/investors than altcoin users/investors. By the way, the topic of this thread is NXT. |
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There should be a new NXT which is initially distributed according to the bitcoin blockchain, as described by Peter R ( https://bitcointalk.org/index.php?topic=563972.0), rather than IPO. Assuming the blockchain bootstrap could be implemented, that would have all the great features of NXT while incorporating the entire bitcoin investor base. Whichever 2.0 coin does this is the one that will win. |
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Dell accepting bitcoin could be MUCH bigger than you think http://ww4.sinaimg.cn/bmiddle/6d9e93aajw1eii0tf52tgj20hs0h6ac5.jpgAndy, a Chinese, shared his experience on Weibo (Chinese Twitter). With the 10% discount, he bought an Alienware 14 ( http://www.dell.com/us/p/alienware-14/pd.aspx) for 6442CNY in bitcoin The same item is selling at 11999CNY in China: http://item.jd.com/1107676.html . He saved 46% You may wonder why he couldn't buy it from dell.com directly before. Due to strict foreign exchange control, Chinese people could hardly have a "foreign currency credit card", and usual credit cards could not pay bills in USD or other foreign currency. As Dell now accepts bitcoin, Chinese people could order from dell.com directly, asking them to deliver to the US address of Haitao ( http://www.haitao.com/ ), who will then ship the item to China. This is only the beginning. But normal Joe Blogg's Chinese can't get Bitcoin easily. 46% discount should provide enough incentive for Joe Bloggs to open an account on huobi or okcoin. Despite China has banned bitcoin 10 times, I can tell you that, based on my first hand experience, Chinese people could still deposit fiat to exchanges in less than 30 minutes. That is correct. |
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BitVC registration link: http://www.bitvc.com/?i=fu8b3NN338cBbXPXmJBitVC features margin trading of bitcoin and litecoin, and a coin saving acount which gives you daily interest income on your bitcoin and litecoin deposits. BitVC has the significant liquidity and market depth of Huobi's order book. Zero trading fees. Many other great features are coming soon. |
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BitVC - Huobi's new platform - has swaps at a minimum interest rate of 0.1% and a maximum of 1%. Looks like this is only for CNY/BTC/LTC - in which case it is a very high rate for BTC and LTC, and a reasonable rate for CNY. https://bitcointalk.org/index.php?topic=662221.0Does anyone have more details? It'd be interesting to know if their swap rate tracks the Bitfinex USD rate. Thanks for giving BitVC a try. I still have several invitation codes left, so if anyone is interested please send me a private message. |
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Please send me a PM to request an invite code.
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Sorry for stating the obvious, but if there are no fees where do you have your income?
Lending for margin trading, fiat withdrawals, VIP services, etc. |
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BitVc is a new trading platform which allows margin trading of Bitcoin and Litecoin. Like Huobi, there will be zero trading or withdrawal fees. BitVc is based on Huobi's API and will support BTC/LTC derivatives and financial instruments. BitVc will be focused on margin trading, derivatives, and other financial instruments, while Huobi will continue to be mainly a spot trading platform. The API will be opened later for other developers to create applications on it. BitVc was created by the people behind Huobi, which has an impeccable security and performance record. It is registered to Huobi's subsidiary company in Hong Kong. BitVc features a new product/service called Yubibao, which is an interest-bearing BTC/LTC account within BitVc. You can move your BTC/LTC into your Yubibao and withdraw into your normal account instantly and at any time. Yubibao gives risk-averse people a safe, easy way to put their coins to work for profit. Interest is derived from traders who borrow to trade on margin. Rather than setting your own loan terms, BitVc pools all the deposits in Yubibao and offers the same market rate to all savers and borrowers. BitVc is currently in invitation-only mode, but you can send me a message if you want an invitation code. Your feedback would be much appreciated. https://www.bitvc.com/http://newsbtc.com/2014/06/16/chinese-bitcoin-exchange-huobi-launch-virtual-currency-based-derivatives-platform-bitvc/ |
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