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So to arbitrage, I need to first sell my coins in China, then buy them back outside China. If you know anything about any part of this plan that might help, please contribute.
To sell in China, I can either use an exchange like BTCChina, or sell for cash locally (localbitcoins?)
Once I have the CNY, I will either wire it to Hong Kong through a friend, or fly the cash to Hong Kong. I'm not sure what the rules are in order to be able to just wire straight from a Chinese bank account to my US/UK bank account or bitstamp. I'm a US citizen.
Once I have cash in Hong Kong, I will either wire it to Bitstamp, fly to someone anywhere in the world who will sell me a large volume of bitcoins at the Bitstamp rate, or convert the cash to gold 1oz pandas and hoard them because they are pretty and shiny.
Thanks for any advice.
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What happens if I wire money to MTgox before verifying my account? If I upload the ID, will they approve it fast when the wire arrives? I don't want to wait two weeks in the 14,000 person line. I realize my withdrawls will be restricted, but as long as I can buy bitcoins fast, this is fine. From MTgox: If you plan to invest more than 50000 USD or equivalent on the long term in bitcoins, we need to know about you. In this case please use our verification system to get your account verified first.
Please also be advised that all deposits are subject to an ID check by our AML team and this process would take up to 1 business day. First-timer depositors are requested to upload their copy of the official ID to facilitate this process (you will not have to be fully verified at this point if your deposit is lower than 50,000 USD)
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I have several friends who want to buy amounts between 10k and 200k. Some of them are in the southern California, and some of them are in Malta. What are the current best ways to buy large amounts? What is going on with MtGox? How fast will they be able to buy on gox with the current AML hold up? Does that just affect withdrawls, or deposits and trading too?
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I was showing a new user how to use bitcoin on his phone and here is what happened: He went to blockchain.info and made a wallet with a password I sent 1btc to this address One of the website buttons was being unresponsive on his S3, so he downloaded the blockchain.info android app instead he opened the app and it asked to "pair device" or "new account" he pressed "back" to get rid of that dialog box he went to receive coins and copied the btc address he opened the browser blockchain wallet again, hit send coins, pasted the address, deleted the first part of it where it says "bitcoin: " and sent .999 btc with a .001 fee to it the coins never showed up in the android wallet, so he opened the client up again and looked at the receive address, and it had changed to something else. They both started with "1F" though Where the hell did the original address come from and where are the coins?
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The idea of a world currency is occasionally raised by various countries, but I have yet to see an analysis on what the effects of this would be. I wasted all my Quora credits asking economics majors the question, and I got an interesting answer. What do you guys think? http://www.quora.com/Which-countries-would-gain-or-lose-the-most-from-a-world-currencyI would agree with Ravin Thambapillai's analysis that competitive open economies like Scandinavian countries, Hong Kong, and Germany would be the biggest winners. I would add that rouge states like Iran, Venezuela, Cuba would benefit from the damage the US would take with the loss of its reserve currency status, as well as the removal of banking restrictions. Argentina and Russia might be up there too.
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I am traveling around central america to various countries, and I plan on doing this for a long time, so I need this translated into spanish so I can hit up various places in latin america that I might want to stay at. Revisions are welcome about how to pitch bitcoin better, as I'm not sure what options there are for converting them, or what the advantages are when it seems that a lot of people don't even have a smart phone here. My spanish is too terrible to attempt this myself at the moment. Hello I will be in _______ for several weeks starting next week, and I am looking for a hostel that accepts payment in bitcoin, but I can't find one there. If you want to be the first, you get my business!
If you haven't heard of it before, bitcoin is getting very popular with travelers because it is decentralized so it is possible to instantly pay anyone using a smart phone without any fees or currency conversions, and it's more secure than carrying around cash. It's widely accepted in the US and Europe now, and it would be good to see it spread to Central America too. Additionally, it has more than doubled in value this year, so I like keeping my money in bitcoins instead of cash:) To learn more, go on ________.org
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Here is what happened:
Made new wallet using satoshi client on windows 7 Made a backup Sent a large amount of bitcoins to it Realized the wallet wasn't encrypted, and encrypted it Apparently did not back up the encrypted wallet Made a few tx using the encrypted wallet, causing the balance to get sent as change to an address on the encrypted version Got laptop stolen Spent the last couple days trying to figure out why the backup wallet had a zero balance and couldn't see the change that had come back to it in the next tx
Hoping it is possible to replicate the process and recover the encrypted version. There are enough bitcoins on this wallet to put a huge amount of work into recovering them. I would guess that the encryption process is repeatable, but if there are any random factors in the new generation of 100 addresses, I am screwed.
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My friend needs to transfer 5k USD from a foreign country into his sister's bank account in the US, and he asked me if bitcoin is a good way to do it. I know how to get him the bitcoins easily, but what is the best way for his sister to convert them to USD, how long would this take, and what would the average fee wind up being? She can provide AML docs. I am hoping it is easier and/or cheaper than an international wire with a currency conversion.
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EDIT: NO VENDO AHORA Hola a todos. Estoy vendiendo Bitcoin por pesos Argentinos en Buenos Aires mientras yo estoy aquí. Tome el precio MTgox al 0% de recargo, y el precio del diario Ambito Financiero http://www.ambito.com/economia/mercados/dolar.aspSólo más de 200BTC en persona por favor. Contacto en vendobitcoin@gmail.com. Muchas gracias. EDIT: NO VENDO AHORA
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Crashing bugs, any bug that might result in loss of bitcoins, and security fixes are always highest priority, but here are the big things I think are very high priority that, as far as I know, nobody is working on. I think they all need to be done before we can say we have a "Bitcoin 1.0" : - finish download-only-blockheaders client mode
- password-protect the wallet private keys (mitigate the steal wallet.dat problem: see https://gist.github.com/803170 )
- import a backed-up wallet
- figure out how to do click-to-pay
- design/implement a secure DNS-like "map string to bitcoin address" system (so I can send bitcoins to "gavin@acm.org")
- export+encrypt part of your balance (for long-term storage; I still waffle on whether we want to encourage that right now)
Stumbled upon Gavin's post from over a year ago and wondered about the status of these points. It looks like the pace of development is slow, but not being a programmer, I feel all I can do to help is tell businesses and friends about bitcoin, play bitcoin poker, order the magazine, and bomb hundreds of coins at SatoshiDice.
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one of my 5970's had the little tab ripped off that is used to lock it into the motherboard. This would not appear to be a problem as this doesn't have any electrical connections on it, but now it hangs loading windows 7. It displays the windows 7 loading logo pulsing forever without loading up the desktop. Should I just throw this card out or is there something I can try?
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Can I get an email notification when the price of bitcoin jumps outside of a range that I specify? it would be best if based on the mtgox price.
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I want to spend some coins, but I want businesses to get more traffic if they offer a discount for paying in bitcoin. Which vendors do discounts?
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There is a lag time during the pm exchange where the rates fluctuate. Is there some site that lists the mtgox price at x time, so you could agree to sell at trading price a few minutes from now?
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I want to mine with my 5970's at half speed so I do not have to raise the fan speed and have the house sound like a server room. How do I do this?
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I want to see live mtgox trading stats without continually refreshing a webpage. Where can i see this?
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I want a custom sound file to play when I generate a block on windows. 10btc Bounty.
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