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1  Bitcoin / Bitcoin Discussion / How to get my favorite sushi restaurant to accept Bitcoin? on: November 25, 2013, 05:46:30 PM
Last week I got the email address of the owner of my favorite Sushi restaurant near my house. I try to have as many meetings there as possible because the food is fantastic, and I like supporting local businesses.

What's the best way to educate him on Bitcoin (he had never heard of it) and get him accepting it as payment?

I've read similar threads on this topic:
https://bitcointalk.org/index.php?topic=274931.0 (project development)
https://bitcointalk.org/index.php?topic=288225.0 (economics)
https://bitcointalk.org/index.php?topic=204140.0 (project development)
https://bitcointalk.org/index.php?topic=214551.0 (marketplace)
https://bitcointalk.org/index.php?topic=220636.0 (politics & society)

(note to moderators: I'm putting this in general as previous discussions have been all over the place as far as the category goes).

With last week's Senate hearings, I think this topic is worth bringing up again. If we had a super simple way to get someone educated and on board, it could rapidly change things. I'd personally feel more comfortable moving more of my savings to Bitcoin if I knew most of the stores I interact with on a monthly basis would accept it.

The story of the newly married couple living off Bitcoin for 100 days is inspiring. They could close the deal in 5 minutes. How can we all learn to do that?

One of the threads mentioned above points to http://www.takemybitcoins.com/ which is a good start. This video from Bitpay is nice as well and it doesn't hurt they used actors who are... easy on the eyes. Smiley https://www.youtube.com/embed/YZ-pqo0cLcE?autoplay=1&rel=0 I also like how http://www.weusecoins.com/en/ explains things.

Do you have any additional tools? What should I email the owner of this restaurant?

Ideally, I'd like a simple paragraph or two with links to more information.

I should also make it clear that I'm talking about brick and mortar stores doing in-person sales. My company (FoxyCart) is already helping with online stores via Bitpay.

Thanks for your feedback.
2  Bitcoin / Bitcoin Discussion / Will Bitcoin Be More Disruptive than the Internet? (30 minute presentation) on: November 12, 2013, 12:14:10 AM
Hey all. I recently gave a talk about Bitcoin at BarCamp Nashville. It was well received so I created a video of the slides and put it up on YouTube. It got 1,900 views in less than two days! We published it to our blog today as well. I thought you'd enjoy it:

http://www.foxycart.com/blog/could-bitcoin-be-more-disruptive-than-the-internet

We also got a write up in Southern Alpha which is a local online startup/tech magazine along with a podcast interview: http://southernalpha.com/bitcoin-will-disruptive-internet-luke-stokes-foxycart-history-future-money/

I'm doing my part to spread the Bitcoin love! Smiley
3  Economy / Auctions / [AUCTION] Avalon Batch 3: 1 Module starting bid: 1 BTC! on: August 15, 2013, 02:02:39 AM
And yes, there is a catch.

I'm the guy who fried an Avalon by not plugging in all the power cables. 3 of the 4 modules have been sold and are currently mining away. The rest of the components are up for sale (make me an offer). 1 of the modules, unfortunately, appears to be dead.

From the buyer:

Quote
I picked them up and tested all three modules in a module-less Avalon. Unfortunately, one of the three doesn't work and it's the left of the two module pair, which means I would have to separate the pair. I tested all of them individually and for that one, the Avalon doesn't power on, the fans don't kick on, and the lights turn the dreaded red. If that one isn't connected, everything works normal.

Instead of having it shipped back to me, the buyer has agreed to ship it to whoever wants to buy it. Some may want it for the ASIC chips, others may have an idea what's wrong, a soldering gun, and a sense of adventure, but either way, I'm starting the bid at 1 BTC. I'll let it run for 48 hours. If you make me an amazing offer, I'll consider ending the auction early.

Who's up for a challenge?
4  Economy / Auctions / [AUCTION] Avalon Batch 3 Chassis, Control Unit, Router and Fans (no modules) on: August 10, 2013, 07:31:23 PM
If you're interested in the back story of this sale, you'll find it here.



The starting bid is 10 BTC which (almost) gets me back to my original costs on this rig. As of this posting, the four modules are sold and in the mail to new owners. What I'm auctioning are original Avalon batch 3 components:

  • Metal Chassis
  • Control Unit
  • Router
  • 2 Fans

The power distribution board is not included.

My plan is to run this auction through the weekend, and if the response is favorable, close it out some time on Monday or Tuesday. If not, I may hold on to the parts until more batch 3's are delivered. I've already heard a few stories of broken components during shipping, so this might be a faster option than waiting for Avalon to send replacement parts.

You agree to pay for escrow via John K, pay for whatever speed shipping you want, and pay for whatever insurance you want on the shipment (though I doubt an insurance company would know how to price this stuff, so I personally wouldn't bother). I'll be shipping everything in the original Avalon packaging.

I hope this helps someone get their rig going. If you have questions, feel free to PM me. I don't know what a fair price for this is at the current difficulty and all the craziness to follow with Avalon, so I'm letting the community decide. If there isn't much interest now, I'm fine with holding on to it until someone needs it.

I prefer to sell the whole thing, so if you only need one part, you might considering reselling the other parts or keeping them as backups.

Thanks again to everyone who has helped me out over the past few days. It's nice to connect with some great people in the community.
5  Economy / Computer hardware / [WTS] Avalon Batch 3 Modules (SOLD) on: August 07, 2013, 10:49:49 PM
You can read the whole story here: https://bitcointalk.org/index.php?topic=269802.0

I've got a support ticket with Avalon to get a replacement PDU and an RMA request for a new PSU, but I hate to see these things just sitting here. If I get an offer from someone I can trust, I might be willing to sell the modules. I'm fairly confident the modules themselves are fine because they were cranking out 90GHs+ last night and this morning. I would only finalize a sale after confirmation they were working as expected. You could buy one or all four. PM serious offers only, please.
6  Bitcoin / Hardware / I melted my Avalon today and need your help on: August 07, 2013, 09:05:43 PM
So this is your "wow, I'm glad I'm not as dumb as that guy" moment for today. Yesterday I was excited to finally receive my Batch 3 Avalon. Having had ATX/AT power supplies before, I incorrectly thought it was an either/or situation and didn't connect all the power wires from the PSU. I fired it up, mined some coins through the night, checked it in the morning, all was good... went to a meeting, came back and discovered a melted ATX wire which then melted the PDU.

You can see the whole story here:
https://bitcointalk.org/index.php?topic=140539.msg2885086#msg2885086
https://bitcointalk.org/index.php?topic=140539.msg2886607#msg2886607

Here's where I need your help:

I have to decide on what to do now. Should I sell my 4 modules and be done with it? I'm fairly confident they are all working, but understandably the forth one may bring some doubts with it. If you are interested in buying them, please PM me. I spent 101 BTC on this rig, not including the PSU I purchased and I'd really hate to lose so much money.

Or, if you have spare parts or work with someone who does, here's what I need:
- One (1) Batch 3 PDU (what I have looks different than this picture: https://en.bitcoin.it/wiki/Avalon#PDU ) (see posts linked to above for pictures)
- four (4) power cables.
- one (1) usb cable
- one (1) 10-wire cable connecting the PDU to the Control Unit
- 5 zip ties
If you can give me a quote for these components along with shipping costs and estimated delivery time to middle USA, please PM me.

There's also been some talk of having someone else host my modules. I'm interested in all possibilities to get these things running again as soon as possible.

So, those are my options as I see them. Do you see any others? What do you think I should do? Can you help?

[Edit: I'm selling the components in hopes of recovering my costs. Modules are in the process of being sold, other components will be auctioned.]
7  Bitcoin / Bitcoin Discussion / Bitcoin Anonymity (or the Lack Thereof) for Newbies on: June 10, 2013, 06:42:43 PM
Given the recent news of NSA's involvement in, well, everything, it got me thinking about Bitcoin and Anonymity.

When I recently got into Bitcoin, I read things like Max Keiser's post claiming Bitcoin's intrinsic value is privacy. The veterans around here will quickly say that's not true, it's only pseudonymous, but most people (myself included) probably won't fully comprehend the difference.

So I started reading here:
https://en.bitcoin.it/wiki/Anonymity

Concerns I have include:
"...is designed to make this attack more difficult." -- But not impossible. I seem to be learning new things daily about the resources of the NSA.
"Each transfer needs to be painstakingly investigated and many transfers will present insurmountable difficulty." -- Can someone help me out with this? What exactly does "insurmountable" mean here, and what factors (or how much computing power) would make it surmountable again?

That wiki post ends with discussing coin mixers but then basically says, good luck with that, you'll probably get scammed or blamed for a version of structuring or money laundering anyway. Money laundering involves "illicit" sources of money. Since the government defines at any given moment what is considered illicit, and many are losing confidence in the government on a daily basis, where does that leave us?

I'm not the first to post about this. A quick search shows many others including:

What happened to Bitcoin being Anonymous? - June 11, 2012
Note: I like the argument for using the word "private" instead of "anonymous." Anyone who thinks Bitcoin is private should read that thread and see some of the examples of address ownership discovery.

Anonymity - July 7, 2010
One post summed it up for me with "super-strong privacy isn't worth the performance cost." If early adopting techies feel this way, every day non-technical users will feel it doubly so. They aren't going to set up a VPS or use Tor, etc.

There are probably other great posts out there as well, but most people (myself included) don't have time to read them all.

I've scanned through a 24 page "Analysis of Anonymity in the Bitcoin System" document, but most people probably won't read that either. The only reason I'm looking into this stuff now is that I'm lying in bed trying to get over a headcold.

So what's the point of this post?

To raise awareness.

I've been part of this community for a few months now, and it doesn't seem to be brought up enough, IMO. New people getting involved probably don't realize the implications, especially if Bitcoin is made illegal in their country someday. I've read the FinCEN ruling in the US, and I'm optimistic, but many of my friends don't share that optimism.

To be clear: other than a speeding ticket over a decade ago, I've never willfully broken the law (well, maybe in college I had some MP3s...). I have no interest in Silk Road. This isn't about "If you're doing nothing wrong, privacy doesn't matter." I used to use that argument also. I think recent political realities (and my own education on these topics) have changed my point of view today. The US Government, from my perspective, is increasingly less safe. Using Bitcoin doesn't easily solve that problem, though early on I let myself believe it could.

I love Bitcoin, and I've put my company out there to support it. I want to see it succeed, no matter what governments do. I spent some time today learning about Open Transactions which seems like a really cool project. Are there other similar projects going on? Should we be worried about Bitcoin being mis-represented as private? Am I just being paranoid?

Most of my identities online use my real name because I don't want to falsely think something I do online is private. I don't want newbie Bitcoin users to have that same sense of false confidence.

Thanks for your attention and comments.

(edit to fix broken links)
8  Bitcoin / Bitcoin Discussion / Does day trading hinder adoption? on: April 16, 2013, 12:23:22 PM
I've only been around a few months, but it seems like most people involved in Bitcoin who are vocal about it really want to see it succeed. Are we willing to see it succeed even if it costs us money?

When the price was above $200 I knew there would be a correction. Just about everyone did. But I didn't sell. I'm interested in the long term success of Bitcoin. When my friends compared Bitcoin to a single stock, I always corrected them and explained the problem and how Botcoin solves it. Now, I feel my argument is much harder to make.

When I see the price dropping so much, I have to ask myself, who is selling? The more people that participate in the swings, the bigger the swings will be. Sure, you might increase your holdings a bit, but will that be at the expense of the general public adopting bitcoin sooner? If day traders' holdings are increasing because of new people panic selling (which creates more volatility), aren't we just hurting ourselves?

I believe in Bitcoin's long term value. That said, Betamax was arguably a better technology than VHS. It still didn't win the adoption battle. Good money drives out bad, but with this volatility, Bitcoin isn't looking like good money at the moment. If day trading contributes to volatility, why are those who want Bitcoin to succeed day trading?

These are just my current thoughts. What do you think?

Do you think day trading slows adoption?
9  Bitcoin / Bitcoin Discussion / Just published a post on why FoxyCart supports Bitcoin on: April 09, 2013, 03:46:15 PM
I'd love your feedback: http://www.foxycart.com/blog/why-does-foxycart-support-bitcoin

It's fun to take my personal passions and bring them to the "corporate" blog. Smiley
10  Economy / Service Discussion / weusecoins.com down? on: April 08, 2013, 08:47:41 PM
http://www.downforeveryoneorjustme.com/www.weusecoins.com

I'm not sure how long it's been down, but considering just about everyone (including myself) links to that site to explain it... that's not a good thing. Anyone here run that site or know who does? Are they just overwhelmed with legitimate traffic or is something else going on?
11  Bitcoin / Bitcoin Discussion / Are we revolutionaries? on: April 01, 2013, 04:21:17 AM
There seem to be a lot of posts recently about the revolutionary nature of Bitcoin. Granted, I'm new to the game, so maybe this has been going on since the beginning. For me, research into the corrupt banking system and how money works led me to Bitcoin (which I've blogged about).

I tweeted this last night: The revolutionary war of the future may not be fought with guns or bombs. It just might be fought with currency.

Are we the revolutionaries of tomorrow?



If so, I hope our barricade is made of more than chairs and desks. We need to understand the weapons being used. This FinCEN stuff, for example. We need to understand it well and play by the rules. If you sell Bitcoins locally, do you have to be registered? I've already emailed the guy in my state in charge of the money transmitter's registration stuff. I need to learn more.

If things get crazier, a different day may come where new rules need to be created or the current ones broken, but I think we're pretty far off from that. Too many people are still asleep.

I was watching the Matrix again today and was reminded of something.



Quote
That system is our enemy. But when you're inside, you look around, what do you see? Businessmen, teachers, lawyers, carpenters. The very minds of the people we are trying to save... ...You have to understand, most of these people are not ready to be unplugged. And many of them are so inured, so hopelessly dependent on the system, that they will fight to protect it.

I edited out the part about those still in the system being our enemy. I don't think they are. I do think, however, we should be having tough conversations with our financial advisers, with our parents, with our bankers. We should continue to look for reasons this won't work and promote the reasons it will.

If you haven't already, you should tell your friends about Bitcoin. You should blog about it. I was hesitant at first because I didn't know if it would crash tomorrow (with my friends holding the bag). As my confidence has grown, I've since focused the conversation on fiat currencies and the problems Bitcoin solves (instead of the current MtGox price). For those who understand that conversation, they are getting excited about Bitcoin.

Regardless of what happens, it's been a fun ride so far. I've throughly enjoyed learning from you all.
12  Economy / Speculation / When the price of Bitcoin rapidly drops I... on: March 23, 2013, 03:37:04 PM
What's your "plan" and why?
13  Economy / Speculation / btc123 in #bitcoin today: NYT journalist involved, $50M about to be spent??? on: March 19, 2013, 02:01:36 AM
Everyone hanging out in #bitcoin on IRC today saw some pretty interesting stuff. As mentioned already, a post was made at Reddit claiming $1,000,000 was going to be dumped into BTC within 30 minutes. At the same time in IRC, btc123 was talking about working with a NYT journalist to demonstrate how the Bitcoin market can be manipulated and the real goal was to sell $120,000 worth of coins "into strength" created by the Reddit post.

btc123 went on to say some interesting things like $50M is "rumored" to be awaiting clearance to be spent on BTC (which is supposed to push the price to $850). Also talk of $55 by the end of the day, $100 within the month, $1,000 by the end of the year, $100,000 by 2015 and $1,000,000 by 2025.

Regardless of what happens, it was really entertaining to watch because the price did move. For those that missed it, here's what btc123 was saying.

Thought you might find it interesting.

Quote
(2:37:05 PM) btc123 [c041ed8a@gateway/web/freenode/ip.192.65.237.138] entered the room.
(2:37:18 PM) btc123: just posted this
(2:37:20 PM) btc123: http://www.reddit.com/r/Bitcoin/comments/1ajid7/when_this_post_is_30_minutes_old_i_will_be/
(2:37:26 PM) btc123: lets see if my social engineering works
(2:38:14 PM) btc123: all i have to do is tell people that im gonna buy $1Mil and it worked!
(2:38:15 PM) btc123: haha
(2:39:24 PM) btc123: i'm actaully selling... need to get out of a $120,000.00 position.... so i tell people im buyig for better bid price
(2:39:28 PM) btc123: im a genius
(2:43:21 PM) btc123: thats my post
(2:44:38 PM) btc123: i have an alpha at coinlab
(2:45:07 PM) btc123: i'm part of a VC fund we're bullish on bitcoin... might as well grab a few million $ worth
(2:45:18 PM) btc123: they're going to be $10,000.00 in a few years anyay
(2:46:37 PM) btc123: i've contacted a NYT journalist who is monitoring this room and reddit post for the rest of the day to see how easily bitcoin is manipulated.... and going to do an article on it. we're going to break $50.00 today.
(2:46:50 PM) btc123: just letting you guys know
(2:47:03 PM) btc123: tell your friends.... big events occuring today in bitcoin land
(2:48:19 PM) btc123: you guys laugh now... i'll see you when we hit $50.00
(2:48:59 PM) btc123: i know for a fact that major VC firms in the valley have alpha accounts at coinlab and are loading BTC
(2:49:20 PM) btc123: you will see panic buying over the next week
(2:49:29 PM) btc123: $100.00 within a month
(2:49:40 PM) btc123: i dotl you all
(2:49:49 PM) btc123: $50.00 by tonight
(2:52:43 PM) btc123: its easy to manipulate the market.... as i said ... there is a NYT reporter in this room monitoring these events.... this is social experiment in bitcoin and how easy it is to convince people to panic buy
(2:55:42 PM) btc123: thatguy: INCEPTION>... go deeper...
(2:56:22 PM) btc123: only poeple in this room are privy to know that its manipulation
(3:01:39 PM) btc123: this social manipulation experiment worked better then i thought.... i'll post all details soon.
(3:05:22 PM) btc123: lukestokes: i made a post to reddit saying i was purchasing $1M worth of btc, as panic buying kicked in , I sold into strength... worked great.
(3:05:34 PM) btc123: bitcoin_millionare on /r/bitcoin
(3:06:14 PM) btc123: what feds? bitcoin is unregulated
(3:06:22 PM) btc123: nothing illegal about misdirection
(3:07:04 PM) btc123: midnightmagic: good thing i read the legal code, and bitcoin is unregulated
(3:09:10 PM) btc123: midnightmagic: under which jurisdiction? bitcoin is regulated under none
(3:11:09 PM) btc123: midnightmagic: i'm not.you may know that this sort of thing occurs in free markets all the time. investment banks misdirect eachother to their intentions all day. buy/sell side in all markets
(3:12:01 PM) btc123: midnightmagic: also, a 2.00% move isn't consididered a panic by any means
(3:12:25 PM) btc123: midnightmagic: yes... the term panic' is subjective
(3:15:28 PM) btc123_ [c041ed8a@gateway/web/freenode/ip.192.65.237.138] entered the room.
(3:16:46 PM) btc123 left the room (quit: Ping timeout: 245 seconds).
(3:27:55 PM) btc123_: bitcoin is NOT a currency. its a commodity. if you want to help the community dont call it a currency. governments dont like competing currencies.... commodities are ok though.
(3:28:12 PM) btc123_: BTC is a commodity thats easily exchangeable. thats all
(3:28:42 PM) btc123_: scrybe: even if you think its a currency.... don't call it a currency if you want to help the community... crypto-commodity' is better.
(3:29:34 PM) btc123_: people are scared of competitng currencies... when you're talking about bitcoin in real life , or having debates... say commodity. then bankers/govvt will be like oh, ok, we have nothing to worry about, carry on'
(3:29:53 PM) btc123_: if any of you are ever on TV or CNN/etc,,, say commodity'
(3:30:00 PM) btc123_: helo: it matters beacause law.
(3:30:14 PM) btc123_: if it can be defined as a commodity by the supreme court. then its OK
(3:30:24 PM) btc123_: commodity good... currency bad
(3:30:55 PM) btc123_: gmaxwell: maybe i'll take you up on that.
(3:31:48 PM) btc123_: gmaxwell: will do
(4:52:37 PM) btc123_: i'm resuming purchases soon
(4:52:43 PM) btc123_: only filled 01/02/13 of my $1M
(4:52:54 PM) btc123_: should get over $50.... check reddit posts for updates
(4:54:59 PM) btc123_: you all laughed at me when i said $50.00 today
(4:55:25 PM) btc123_: $55.00 within 24 hours.
(4:56:39 PM) btc123_: yawn.... $50.00 within the hour
(4:56:54 PM) btc123_: !asks 51
(4:58:22 PM) btc123_: Appendage: u mad because i called $55.00 today?
(4:59:18 PM) btc123_: im a genius... my reddit post worked great
(5:09:00 PM) btc123_: how can an exchange have lag'... what a joke
(5:09:18 PM) btc123_: im creating a 0.00% exchange... just so everyone knows... launching soon.
(5:15:00 PM) btc123_: wow. my Reddit post worked out way better then i thought. this is very interesting
(5:17:52 PM) btc123_: http://www.reddit.com/r/Bitcoin/comments/1ajid7/when_this_post_is_30_minutes_old_i_will_be/
(5:18:58 PM) btc123_: $55.00 by end of day... $100.00 within a month.... then all over the news... then $1,000.00 by end of year. easy money. sellers are idiots
(5:19:33 PM) btc123_: $100,000.00 by 2015
(5:19:34 PM) btc123_: easily
(5:19:54 PM) btc123_: Appendage: i said $50.00 today and everyone laughed. im a genius. whatever i say is correct.
(5:20:36 PM) btc123_: $1,000,000.00 by 2025 when adoption is worldwide
(5:21:34 PM) btc123_: Appendage: they laughed when i said $25.00 in 2011 they laughed when i said $2.00 was best buying opportunity ever. they keep laughing.
(5:22:11 PM) btc123_: bitc01n: check logs
(5:23:12 PM) btc123_: [21 May 2011 22:42:04] <btc123_> we'll be at $25.00 within a few months
(5:23:22 PM) btc123_: see. genius.
(5:24:39 PM) btc123_: Appendage: dont ask questions. just buy. you'll be rich in 02/03/13 years... then send donations.
(5:25:45 PM) btc123_: check out this log --> <btc123_> [21 May 2011 22:42:04] <btc123_> we'll be at $25.00 within a few months
(5:26:11 PM) btc123_: Appendage: blockchain spam
(5:27:31 PM) btc123_: zzorn: it doesnt go into blockchain.. i think hes talking about keeping it in chain
(5:31:39 PM) btc123_: $55.00 within next day or two probably
(6:35:25 PM) btc123_: yawn
(6:35:28 PM) btc123_: i told you all $55.00 today
(6:35:31 PM) btc123_: i'm a genius
(6:35:38 PM) btc123_: obviously... im a genius
(6:35:54 PM) btc123_: it will be $100.00 by end of month. $1,000.00 by end of year. guaranteed. im a genius.
(6:36:41 PM) btc123_: HLL: its at record lows here, it will be at $100,000.00 in a few years... buy everything you can
(6:36:53 PM) btc123_: when the whole world uses BTC, it will be $1,000,000.00 easy
(6:37:42 PM) btc123_: yawn.... good thing i made that reddit post today....
(6:38:35 PM) btc123_: $55.00 today. $60.00 tomorrow. $100.00 by april 1
(6:38:41 PM) btc123_: then $1,000.00 by end of year, or higher
(6:40:35 PM) btc123_: $55.00 today. $60.00 tomorrow. $100.00 April 1 I'm a genius.
(6:40:40 PM) btc123_: everybody buy
(6:40:53 PM) btc123_: Panic Buying in effect
(6:42:24 PM) btc123_: yawn...... panic buying. $55.00 in an hour
(6:42:54 PM) btc123_: who laughed at me when i said $55.00 earlier? im a genius. just saying.
(6:46:34 PM) btc123_: i have information stating that there are over $50,000,000.00 in deposits waiting for coinlab / mtgox deal to close... that should push price up to around $300.00 pretty fast.
(6:46:42 PM) btc123_: my source may or may not be reliable
(6:47:09 PM) btc123_: i can't disclose
(6:47:21 PM) btc123_: also, Goldman Sachs IP hits mtgox/bitcoincharts daily
(6:47:27 PM) btc123_: Goldman will be purchasing BTC soon
(6:47:35 PM) btc123_: BTC to $1Mil. 2015
(6:48:09 PM) btc123_: GLORP: yes for sure... $100,000,000.00 is going to flow into BTC within the next month or two
(6:48:31 PM) btc123_: ;;help
(6:49:13 PM) btc123_: yes... get ready for a MASSIVE spike UP in BTC prices... over next few weeks we may see $250.00
(6:49:22 PM) btc123_: easy money. dont sell.
(6:50:34 PM) btc123_: $55.00 today
(6:51:16 PM) btc123_: how do you get gribble to calc price from a usd amount of purchasing?
(6:52:04 PM) btc123_: ;;market buy --usd 50000000
(6:52:14 PM) btc123_: There you have it... $850.00
(6:52:20 PM) btc123_: BTC will be at $850.00 shortly...
(6:52:30 PM) btc123_: $50.00 million is going on deposit at coinlab in next few weeks
(6:52:44 PM) btc123_: tral: few months
(6:52:49 PM) btc123_: $1,000.00 by end of year
(6:53:04 PM) btc123_: then $100,000.00 by 2015
(6:53:41 PM) btc123_: Eduard_Munteanu:not enough people able to wire > $10K without verification / notarized lawyers /etc ....
(6:54:03 PM) btc123_: $55.00 today
(6:54:33 PM) btc123_: no, its true.... there are no sellers. only buyers. people are hoarding BTC. not selling.
(6:57:23 PM) btc123_: woohoo!!!!!!!
(6:59:43 PM) btc123_: nice report,,,, Virtual currency does not meet the criteria to be considered “currency” under the BSA, because it is not legal tender.
(7:00:52 PM) btc123_: lukestokes: the NYT journalist is very interested with todays events.... article coming... eventually
(7:01:29 PM) btc123_: Yes, this FinCEn report means i'll ahve to revise my estimate from $55.00 today, to $60.... then $80.00 next week..
(7:01:41 PM) btc123_: BTC easy to $1,000,000.00 in a few years
(7:02:07 PM) btc123_: Appendage: dont worry, i said BTC would break $50.00 today. im a genius.
(7:03:33 PM) btc123_: FinCEN report:Virtual currency does not meet the criteria to be considered “currency” under the BSA, because it is not legal tender.
(7:04:11 PM) btc123_: it means BTC going to $1Million
(7:12:00 PM) btc123_: perhapstired: you should read the forums/faq/wiki
(7:12:08 PM) btc123_: up
(7:14:00 PM) btc123_: perhapstired: same IP running 2 nodes?
(7:15:19 PM) btc123_: whoever sold 3800 BTC @ 50 either really needs fiat to pay for something, or is idiot
(7:15:32 PM) btc123_: perhapstired: no
(7:16:43 PM) btc123_: perhapstired: and wallets just hold ur private keys. you can sign from any computer in the world by sending raw packets to a bitcoin node if u want...
(7:18:54 PM) btc123_: ;;market buy --usd 50000000
(7:19:42 PM) btc123_: *rumour* has it that coinlab has over $50M waiting on sidelines to deposit ... if all of that goes to buying coins, at current asks Bitcoin will be $850/USD
(7:20:13 PM) btc123_: yeah, $50M... just need to wait for accounts to be verified
(7:20:48 PM) btc123_: every VC in the valley wants bitcoins now. they think that bitcoins are the best. bitcoin is taking Silicon Valley by storm.
(7:21:37 PM) btc123_: qwebirc78159: best purchase you ever makde
(7:21:40 PM) btc123_: DO IT
(7:22:33 PM) btc123_: gmaxwell: you'd be robbed probably
(7:22:37 PM) btc123_: hah
(7:22:44 PM) btc123_: Sy5Err0r: http://boost.vc/
(8:24:59 PM) btc123_: can you boot off SD cards?
(8:25:01 PM) btc123_: macbooks
(8:28:14 PM) btc123_ left the room (quit: Quit: Page closed).
14  Economy / Service Announcements / FoxyCart now supports Bitcoin! (Beta Launch) on: March 13, 2013, 08:10:57 PM
Less than a month ago, I posted in this fine forum to gauge the interest in our ecommerce company (FoxyCart) adding Bitcoin support.

Your response blew me away! I was amazed to see @WikileaksDude update the OP with a quote of my post along with a big red "Lets show some love to FoxyCart!" note. We definitely felt the love.

The more I learned about Bitcoin and this community, the more excited I got about supporting it! I even blogged about Bitcoin on my personal blog. We reprioritized some things on our end and have been working on supporting Bitpay as a payment option for our shopping cart platform as well as allowing customers to pay for FoxyCart services using Bitcoin.

We're really excited about this!

We literally just finished up the code today which allows stores on 1.1 to add Bitpay as a payment option. We also retooled our activation page so when you're ready to take your version 1.1 store live, you can pay us with Bitcoin. In addition, we're offering a 5% discount for those who pay for FoxyCart services in Bitcoin.

This is new territory for us. We're taking a chance and hoping it will benefit everyone involved. If you are a web developer or you're working with a developer, please help us spread the word.

As always, you can post in our forums (or here) if you have any questions or concerns: http://forum.foxycart.com

Thank you for your support.
15  Other / Off-topic / What do you think of Daniel Suarez books? on: March 12, 2013, 03:07:42 PM
http://www.thedaemon.com/

I really enjoyed reading The Deamon and Freedom TM. I've actually read them twice. The Darknet credits there seem so similar to Bitcoins. With Google glass and 3D printing becoming more popular (these guys got their kickstarter funded in a day), it seems like his ideas were ahead of their time and are becoming reality.

Have you read them? Did you like them?

Have you read Kill Decision? I haven't read that one yet, but it looks interesting.

OK, you can now go back to regularly scheduled speculation about who Satoshi is, what last night's fork will do to the price, and why asicminer is so dangerous.
16  Economy / Trading Discussion / Spreadsheet for tracking your current BTC/USD value on: March 06, 2013, 05:26:20 AM
I'm new to Bitcoin and quickly realized how helpful a spreadsheet is for keeping track of the few buys I've made at different levels and what my overall USD value is. I figured others may find this useful as well, so I made a generic one. Feel free to make a copy and enjoy: https://docs.google.com/spreadsheet/ccc?key=0AkOD_dGHOm6IdE5ZbTdRYmhxLUNBSkFvb2dqS0RKTHc#gid=0

If you already have something like this in place, what are you using? I assume there has to be something more sophisticated out there.
17  Bitcoin / Bitcoin Discussion / Bitcoin: DO YOU SPEAK IT??? on: March 03, 2013, 05:24:34 AM
I just published my first blog post about my last month or so learning Bitcoin. I'd love for you to give it a read and let me know if I missed something or if I'm way off somewhere.

http://bestoked.blogspot.com/2013/03/bitcoin-do-you-speak-it.html

There are some great posts out there about Bitcoin, but sometimes they can be hard to find. Do you have one? I'd love to read it. If you do, please reply with a link so I can check it out.

Thanks! Smiley
18  Bitcoin / Legal / Ecommerce SaaS: If we add support for Bitcoin, are we increasing our liability? on: February 23, 2013, 03:08:20 AM
My business partner and I were talking about this today, and I wanted your feedback. We're both new to Bitcoin and are getting excited about the possibility of adding Bitcoin support to our ecommerce software as a service (FoxyCart.com). One concern we have: What prevents someone from doing illegal activities through our platform using Bitcoin?

Currently we benefit greatly from the merchant account provider who approves or denies the merchant. If someone wants to user our service, they have to have a live merchant account to collect payment. This helps ensure the users of our system are right inline with our terms of service because of the merchant account provider's approval process.

If we were to support Bitcoin directly or through a service like Bitpay, what protection would we have? What would prevent someone from signing up and selling illegal things on our platform since they are basically anonymous?

Here are some possible solutions I can think of, but please add some of your own as well:

  • Charge a premium for stores who want to use Bitcoin payments exclusively and use the extra fees to manually vet and periodically check up on each merchant to ensure everything being sold is legal (this assumes no password-protected areas of their site).
  • Do our own identity validation service (much like mtgox) to ensure we have valid identification for the merchant so if there are any illegal activities going on and we get subpoenaed, we can point to a real person.
  • Require a signed document or some similar process to ensure our terms of service is understood and will be followed.
  • Rely on the checkbox they clicked and hope for the best.

I'm having trouble coming up with more solutions. Addressing these concerns could help bring Bitcoin well beyond the hacker community into mainstream every day life. We want to help with that, but we also have to protect our company and users. At the very least, accepting Bitcoin means a second look at our business insurance and a long talk with our lawyers.

We'd love to hear your thoughts on this.
19  Other / Beginners & Help / ASIC: $2M+ a year for a $30k investment? WAT?! on: February 18, 2013, 02:41:26 PM
[ Non Newbie Category: Mining ]

Ultimately, my question is this: Should a newbie buy an ASIC?

I've been learning about BTC for a few weeks now (thank you, #bitcoin, you rock!). Based on those conversations and the few threads I've read, I figured the days of profitable mining were gone. Then I stumbled onto the 1,500GH/s rigs and this:

http://tpbitcalc.appspot.com/?difficulty=3651011.6307&hashrate=1500000.00&exchangerate=26.37&bitcoinsperblock=25.00&rigcost=30000.00&powerconsumption=1500.00&powercost=0.10&investmentperiod=355

WAT?

Now, convincing my wife to drop $30K on something like this is probably not going to happen, but being able to get your money back in 7 days? That's insanity.

I understand the difficulty is constantly going up and the block reward will half in 2016, but even $1M a year isn't bad. That also doesn't take into account what the future value of BTC could be (I, for one, am very optimistic).

I can understand if people are hesitant to share their real world stories on this (and that only a few people actually have ASICs running now), but I really would love to hear any insight you are willing to share. Is this for real? How will a change in difficulty adjust these returns? It seems like unless every single current miner upgrades to ASIC, the newbies have a chance to make some money.

I'm considering buying one of the 30GH/s models to see if I really can make my money back in 7 days.

I can understand not wanting to share details about this as increased difficulty and more people using ASICs decreases the average reward for everyone, but it also makes sense to me to spread things around (even the creators of the ASIC chips seem to agree to that). Seth Godin's post today loosely relates in that more people involved in bitcoin means more seed for future value: http://sethgodin.typepad.com/seths_blog/2013/02/planting-harvesting-and-your-fair-share.html

Side note: it would be cool if the calculator could include an "estimate increase in difficulty percentage" where it would recalculate each step for a more accurate estimate for the year. Maybe it could default to Moore's law or something as the current ASIC flood is probably confusing things a bit.

Thank you for your thoughts and time. Those are more valuable than most things.
20  Other / Beginners & Help / Is Satoshi Nakamoto really the New World Order? on: February 17, 2013, 11:41:02 PM
I'm posting this mainly for fun (I'm still in Newbie jail and apparently need to post some stuff to get out). I've been researching bitcoin for a few weeks now and was thinking this morning, "Wow, bitcoin is so cool! It's a currency used all around the world!" (I was looking at some bitcoin maps last night)

That got me thinking... a global currency. The exact thing the New World Order conspiracy theorists claim is the "end game" of all their loosely related conspiracies from 9/11 to HAARP. Despite what we see here about Mr. Nakamoto's views on central banking (https://en.bitcoin.it/wiki/Satoshi_Nakamoto), what if he (it?) is really using bitcoin as a test bed for a global currency? With global concerns of hyper-inflation and currency wars, it makes sense to me for something like bitcoin to become successful. What if talk of the "sheeple" getting "chipped" just means their bitcoin private addresses will be implanted so they can't be stolen?

But... I digress. I can't seem to find my tin hat today. If that really was the case, they made a big mistake in giving up control of the system. For some organization to have global control via a single currency, they'd have to be able to expand and contract the liquidity of that currency to maintain control. Not sure that's possible with bitcoin.

Please proceed with your regularly scheduled whatever you were doing. Smiley
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