We should start a new slogan:

Vote for World Peace - Use Bitcoin

http://www.youtube.com/watch?v=lRrTKrWnu4g&feature=youtu.be

Ron Paul: Bitcoin can be a participant in bringing down the dollar

http://video.foxbusiness.com/v/2916084919001/ron-paul-bitcoin-can-be-a-participant-in-bringing-down-the-dollar/?playlist_id=937116503001

He seems to have some trouble due to that austrian economics theory that money needs to have intrinsic value, but at least he is open minded about it and the idea of competing currencies. Definitely more agile thinker than people a lot younger than him. E.G. Joe Weisenthal or Peter Schiff.

A long time ago, there was this saying called "property poor". It referred to someone that had like a million dollars worth of property, but barely had enough cash flow to make their mortgage payments. They might even have a slight negative cash flow, but held on waiting for inflation and rising rents to turn things around. Eventually, many years later they were very well off.

Anyway, I know at least one person that has a double digit number of bitcoins, yet is homeless. Another is surviving off of food stamps and sub-minimum wage jobs. All are hanging on to their bitcoins for dear life. It is their ticket to economic salvation.

I would loosely term anyone as being "Bitcoin Poor" if they have over a dozen bitcoins, but the rest of their assets are less than $1000 and they are barely surviving.

Anyway, just wondering how common this phenomenon is in the Bitcoin community. A couple of us locals were talking about this subject recently.

[that they gained by cancelling my order]

So I woke up this morning all excited to add 9.25 btc to my measly collection of 13 btc.
 
https://blockchain.info/address/13F5BR74596kSc7neuZYYbLPar2utuNyrC

I turn on my computer & I see this:

Hi XXXXXXXX,

On Nov 1, 2013 you purchased 9.25 BTC via bank transfer for $1,945.07.

Unfortunately, we have decided to cancel this order because it appears to be high risk. We do not send out any bitcoins on high risk transactions, and you will receive a refund to your bank account in 3-4 business days.

Please understand that we do this to keep the community safe and avoid fraudulent transactions. Apologies if you are one of the good users who gets caught up in this preventative measure - we don't get it right 100% of the time, but we need to be cautious when it comes to preventing fraud.

You may have more luck trying again in a few weeks. Best of luck and thank you for trying Coinbase.

Kind regards,
The Coinbase Team

They have previously canceled 3 attempted orders of 10 BTC each when I was using a major bank, but it appeared that my original bank would never transfer the money. I didn't blame Coinbase even though prices were about $123 each back then. So I opened up an account at a very small bank, linked up the account, and successfully made a small 0.25 btc purchase. So I now know that I found a bank that works with them.

This last action was obviously performed by them (or their software - same thing). Read the message.

Price at purchase: $210.278
Price at cancel: $330.280
Difference: $120.002
Difference * 9.25 btc = $1110.0185 that they gained by cancelling my order

Just because us poor people don't have the wealth to obtain a VISA card and such are denied level 2 verification, doesn't make it right for them to cancel orders during a rising market. BTW, this is more money than I make at my job in a month.

I have been trying to buy bitcoins from them since they were $123 (I was REALLY REALLY late to the bitcoin party). Most of the 13 btc I have bought so far were purchased by wiring money to Bitstamp in Slovenia back in October.


Update: This has been resolved by Olaf to my satisfaction. I was whitelisted and the original order has been reinstated at the original contract rate.