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424
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Economy / Speculation / Re: Do you really believe that Bitcoin will hit 1,000,000
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on: August 12, 2014, 01:34:51 AM
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My believe is that bitcoin will hit more than 1,000,000
again, same question: in five years? or in 50 years? You'll just have to wait and see. I always think it's silly speculating on prices, especially putting a date on things. Keep spreading the word of bitcoin and the price will surely rise over time, though I dont think it'll ever get to 1 million without massive worldwide adoption which will obviously take a while. There are huge markets in Asia/Africa which can be tapped. That is what everybody is banking on. Problem is foreign currency conversion fee in third world is so high that the benefit of bitcoin can not outweigh the cost. |
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431
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Bitcoin / Bitcoin Discussion / Re: Why people price things in fiat but want BTC - choose one or the other
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on: August 07, 2014, 04:20:34 PM
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I've seen loads of topics of people trying to sell things and saying I want x amount of dollars worth of BTC. Surely if someone is so keen on the idea of Bitcoin fiat shouldn't even be mentioned.
They should be prepared in certain instances to take a fiat loss for their beliefs.
Dollars are a more reliable unit of account at this time. Also, when you are selling to a public not yet familiar with BTC it makes the concept easier for them. If I was selling a service such as software with no marginal cost of production only available in Bitcoin most likely I would price it in BTC, otherwise, pricing would be in USD with BTC payment available. And the merchant has supplier cost which is price in FIAT rather btc. Volatility could prove to be downfall for crypto currency. |
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434
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Economy / Trading Discussion / Re: Are BoA transfers reversible?
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on: August 06, 2014, 11:04:50 PM
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I play online poker and would do transfers with people where i transfer them BoA through online transfer and then i get poker funds. I however read that boa is actually reversible. Is this true or false?
I read that boa cash deposits can be reversed if they go back the same day. Is that true/false? What about wells fargo?
So basically the only thing that is not reversible is when someone send you a bank wire and once you receive it, they can't reverse it anymore?
Both are true. Both online transfer and cash deposits specifically for BofA are reversible. I know from personal experience of being a victim of this scam on LBC. Wire transfers are extremely hard to reverse, however still possible. How did the buyer convince the bank teller to reverse cash deposit? |
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438
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Economy / Economics / Re: Selling call options on your bitcoins
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on: August 02, 2014, 08:07:01 PM
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I will offer strike price of 1000 and 1200 call for the following date if anyone is interested:
March 31st, 2015
June 31st, 2015
Dec 31st, 2105
Price will be determined at the time of the dealing. Might be willing to do deal for other date and price, but only in bitcoin (no alt coin).
Send pm in interested.
How would you settle the 2105 strike price? It is not possible to force someone to assume debt when you die, so there would not be anyone to ask to payout at this time. Another issue is that it would be very difficult to enforce this contract as you cannot seize bitcoin from someone. If you were to use escrow, the escrow would need to hold massive amounts of bitcoin from you because of your unlimited exposure. The 2105 one is a typo, should be 2015. But the risk of death is real. If there is a need for assurance, I can make arrangement with trusted exchange regarding any deal I have with buyer here. As for the liability part, TwinWinNerD already explain it. I only need 1 bitcoin to cover each call I wrote. So there is no risk of insolvency on my part. In fact, since the premium for long dated option is high, and I am getting paid in bitcoin, the higher bitcoin go up, the better off I am. |
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439
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Economy / Currency exchange / Re: Options trading thread
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on: August 02, 2014, 10:18:01 AM
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I will offer strike price of 1000 and 1200 call for the following date if anyone is interested:
March 31st, 2015
June 31st, 2015
Dec 31st, 2105
Price will be determined at the time of the dealing. Might be willing to do deal for other date and price, but only in bitcoin (no alt coin).
Send pm in interested.
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440
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Economy / Economics / Re: Selling call options on your bitcoins
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on: August 02, 2014, 10:15:46 AM
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I will offer strike price of 1000 and 1200 call for the following date if anyone is interested:
March 31st, 2015
June 31st, 2015
Dec 31st, 2105
Price will be determined at the time of the dealing. Might be willing to do deal for other date and price, but only in bitcoin (no alt coin).
Send pm in interested.
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