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1  Bitcoin / Bitcoin Discussion / 78 percent of Bitcoin currency stashed under digital mattress, study finds on: October 30, 2012, 11:20:34 PM

ArsTechnica claims that about 78% of bitcoins are not in circulations. Is this True? What can we do about?
2  Bitcoin / Bitcoin Discussion / Exotic Transaction Types with Bitcoin on: September 18, 2012, 10:52:19 PM
Here is a great post about transaction types that may be possible now or in the future.

I really like the Assurance Contracts because how it can be done without third parties.


While they never use the term itself on their site, the most commonly understood example of assurance contracts may well be the popular crowd-funding site KickStarter. For those not familiar, a KickStarter contract happens like this: The project founder submits their idea and the estimated amount of money it will take to make that idea a reality. If the combined value of all pledges is greater than or equal to the amount they specified, they get the money and start work on their project. If the value of all pledges isn't enough, they get nothing and the money goes back to all the investors. This is another transaction type that would be fairly easy to implement in Bitcoin, with the added bonus of not requiring any third parties.

3  Other / Off-topic / A man walks into a bank on: August 07, 2012, 06:05:43 AM

This is a hilarious story of the banking systems and mistakes that can happen.
4  Economy / Trading Discussion / Buying Bitcoins with cash at a retail store on: July 11, 2012, 08:45:10 PM
This forum and its users have been very helpful to me as newbie learning about Bitcoins.  I have been mulling over an idea of making it possible for anyone to purchase Bitcoins at a retail location . 

The idea resolves around buying non refundable credit from a retail store. Something like Money Pak or something similar.  Unlike money Pak there would be no service charge for the purchase. Once the purchase was complete then you would go online with the code to complete your bitcoin purchases.


1. Is there anybody or company offering the ability to purchase Bitcoin via cash transactions at  a retail store?
2. What are the advantages for offering this services?
3. What are the disadvantages for offering a service like this?
4. What would be a fair fee for offering such a services. At the present moment the service provider is charging 2% to 4% per transaction. So any fee charged would have to be on top of that fee.
5. Is it better to have your own Bitcoin client on your server or purchase bit coin as need from exchanges like Mtgox for security reasons.
5  Bitcoin / Bitcoin Discussion / Frighteningly Ambitious Bitcoin Startup Ideas on: May 10, 2012, 08:41:34 AM
I'm still a newbie in the Bitcoin world so forgive any errors or omissions.

I'm really excited about all the possibilities that Bitcoin affords regular people, business and society in general.

This post was inspired by and article by paul graham called
"Frighteningly Ambitious Startup Ideas"  Be warned, this post  however is a rumbling of a newbie.

The purpose of this post is get everyone to share their ideas for Bitcoin Startups, Bitcoin business and projects. What kind of Bitcoin Startup or business would you like to see? If money, time, skill or other resources was not an issue what kind of Bitcoin Startup would you start?

Hopefully these ideas should challenge conventional wisdom and push the adoption of Bitcoin by main stream businesses and people.
without much further ado I present my four humble ideas.

1. 100% Bitcoin Venture Capitalist firm

The bitcoin community needs Venture Capitalist firms willing to invest in Bitcoin startups.
Recently CoinLab was created to "cultivate and luanch inovative bitcoin projects"( CoinLab will be investing in Bitcoin Startups and projects which is a great start. This got me thinking about a Bitcoin Venture Capitalist firm that is 100% funded by Bitcoins and in turn funds new companies and project in Bitcoins. I do not know if this idea would work but it would be neat to see something like this in the wild.

Assuming that Bitcoin remain viable long term a Venture Capitalist firm funded by Bitcoins would see it value increase by the fact that Bitcoin would increase in value long term. Ideally the Venture Capitalist would be investing most of it Bitcoins into the Bitcoin economy and not holding onto the Bitcoins.

2. Bitcoin Ad network

The Bitcoin community has a few Bitcoin ad networks like Anonymous ads, Operation Faboulous and the rest. What I think Bitcoin echo system needs is something large like the Google ad sense network.  This will give the Bitcoin community a way to advertise both within the Bitcoin echo system and outside the echo system. This will allow advertisers to run both Bitcoin ads and  non Bitcoin ads while paying in Bitcoins. For publishers, blogger etc, this will allow them to get paid for both Bitcoin and non Bitcoin content. These publishers would of course get paid in Bitcoins.

3. Large Affiliate Market/Network

Just like the Bitcoin Ad network above we need a large affiliate Ad network like the likes of Commision junction, Maxbounty, Clickbank, etc. The network would be 100% Bitcoin based. The advertisers would pay in Bitccoin and publishers and affiliates would get paid in Bitcoins. The ad network should be a general purpose network offering  a wide range of products and services for promotion.

4. Bitcoin Bill pay
Perhaps the most disruptive idea in my mind is a Bitcoin bill paying services. This service would take your Bitcoins and covert it to dollars and then pay most of your bills, like cell, utillites, whatever. Imagine living in a world where you get paid in Bitcoins and most of your bills could be paid in Bitcoins.

I'm looking forward to reading everyone's ideas.
6  Other / Beginners & Help / Newbie Questions about Liberty Reserve and Bitcoin on: May 06, 2012, 07:46:55 PM

Please excuse this newbie questions.

Question 1: Is there a convenient  way to purchase Liberty Reserve that is both low fees (as opposed to western union fees plus 3% to 9% charged by the various Liberty Reserves exchanges and Fast?

Question 2: Is there a place one can purchase Liberty Reserve using Bitcoins?
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