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There is money that is tied up in accounts that currently CANNOT be used to buy bitcoin until an ETF such as this is available.
Try to buy bitcoin in your 401K lately?
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The mtgox problem isn't solvency, so much as it is competency.
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hm but what is with the free rider problem? This devs work hard and make every coin holder richer. Someone might have 100 000 coins and just contribute nothing.
Holding 100,000 coins is a massive contribution to the exchange value of bitcoin. At current rates, it would be $60m that the holder is choosing to keep invested in the ecosystem. A high exchange rate allows developers to sell a few of their coins to pay themselves, allows miners to sell coins to keep investing in the security of the network and contributes to exchange rate stability, which many people think is important. Do you still think investor are 'free riders'? Yes they are free riders. More specifically investors are gambling with their money that someone else will contribute and that they won't have to. |
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Progressing nicely. The difficulty outpacing profitability shows support beyond the buy and dump folks and into those that will stick with it long term.
Folks that are just in it for the money are likely moving on.
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This seems to be a different event.  The San Jose 2013 Bitcoin Foundation conference was not a closed event in that non-foundation members outnumbered foundation attendees, though the sign-up booth was pretty busy. |
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I'm not an investor, I'm a user. To that end...
I've a short term goal for a simple web interface to fractional shares of an issue.
- Useful for non-technical people to see share ownership, and review accrued BTC dividends and see their value.
- To post bids and asks (for p2p trades of the issue, subset of localbitcoin features).
- Wallets for this may be centrally maintained so web users needn't load bitcoin-qt or counterpartyd, but may load them locally if they choose (blockchain.info model).
I'm just getting started (and admittedly have an abundance of distractions), if anyone is further along, a quick coder, or wants to take this idea, run with it, commercialize it and treat me as a customer, or just wait until I have something to look at, PM me and we'll chat it through.
There is a Web Wallet under development by the protocol developers. For now you can use the blockscan.com website. For this example I will use MoneyPak Trader, who has issued stock on top of the counterparty protocol. You can view the sharedholders and any dividend payments here.... http://blockscan.com/assetInfo.aspx?q=MPTSTOCK , If you are looking to issue a new currency/shares (or atleast experiment with it), counterparty is the perfect platform to do that. Most of the functionality that you are requesting is already available in the product and working well, it is just that it needs to be done from the command line. A easy to use web wallet will be available in the coming weeks. Thanks for this. The use case is a bit more advanced than what is there yet. Users are not bitcoiners (though some may be), they are simple shareholders of a fractional asset (partnership, LLC, Ltd, Joint venture, etc). Many will not have any bitcoin but will see their dividend value in their local currency (or in bitcoin if they choose). If they choose to take a distribution, bitcoin will come out of their account and they will be paid through an exchange in their country. All that is ancillary biz-dev work though. This is to be just a cheap and friendly fractional asset front end web api (for the asset owners, not the asset creators). Possibly a dumbed down counterparty wallet interface will work for much of this so when I can get a chance to pull against that we can start bolting on bits of code. It may even make sense to set this endeavor up as such a fractional asset and give out shares to those that are working on it, as well as sell some for those that expect to capitalize on the effort as it takes shape. |
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I'm not an investor, I'm a user. To that end...
I've a short term goal for a simple web interface to fractional shares of an issue.
- Useful for non-technical people to see share ownership, and review accrued BTC dividends and see their value.
- To post bids and asks (for p2p trades of the issue, subset of localbitcoin features).
- Wallets for this may be centrally maintained so web users needn't load bitcoin-qt or counterpartyd, but may load them locally if they choose (blockchain.info model).
I'm just getting started (and admittedly have an abundance of distractions), if anyone is further along, a quick coder, or wants to take this idea, run with it, commercialize it and treat me as a customer, or just wait until I have something to look at, PM me and we'll chat it through.
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All these capital gains taxes seem way too greedy. It if were up to me everyone would be paying VAT on each transaction but no-nonsense taxes such as a tax to own property or to have capital gains.
Have they suggested what value is added in such a transaction to apply the VAT? If I give 2 fives for a ten do I have to give another five to the policeman? |
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Well and concisely put. Thank you for your eloquence.
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Yeah, no hype. True, but we need to market to bring many people on board.
I want create a divisible asset from scratch (burning a small amount of BTC is fine). Can someone help me in PM? I have Windows 7 ATM... This is the better way to bring people, through usage. Marketing has the tendency to create unmet expectations. |
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I'll say this. If Bitcoin wins the currency battle, it will be an excellent store of value and probably beat the crap out of gold in a human lifetime. However, my money is not on this happening. What say you?
If I might interject -- crypto will subsume fiat. Gold is restricted to a physical presence while much of existing society is already becoming an abstraction. How would gold be able to cross the Rubicon? Bitcoin is already there. This monetary transition goes beyond anything that has ever come before, yet it is only one part of the whole. Looking at gold vs. Bitcoin in isolation provides only a momentary picture, lacking scope of the larger trend. The transition is a logical (natural?) macro progression. As a vehicle, gold is the value store which will act as a bridge between existing wealth and influence, and that to be found in the resulting environment established by maths. By crypto subsume fiat, do you mean that national currencies are expected to become cryptocurrency issued by nations or some other form of subsumption? National currencies are ostensibly reserve currencies. One of the reserves is gold, though under BASIL III gold takes a lesser role to bonds issued by other nations, it remains one of the reserves upon which the fiat-crypto currencies base their reserves. If your proposition is that people ought never value anything physical value and only the abstract value of mathematical beauty as the resulting environment established by maths, this is quite a radical abstraction for physical human beings, and I would suggest unlikely to occur short of some wholesale transcendence of physicality altogether. At the risk of using an analogy apropos to valentines day: Just as the abstraction of love may be considered a higher and more valued formulation than physical sex, without sex backing love, humanity ends. It is not one vs the other but the combination of both that is sensible. |
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The scams that start on the climb, often unravel on the decline. BOLO
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I like this Magic The Gathering Online Exchange a good bit more than the other one at the moment.
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I can't find a hooker to pay in gold either, but that didn't kill the trust in gold A gold ring on a girls finger is typically reserved for the ones you don't want to leave. |
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no "hackers" have been aware of the issue for quite a while and almost never get their news from the "news" |
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Lasky: “Let’s be frank, a lot more money has been laundered through large banks than has been laundered through virtual currency.”
The real money laundering folks laugh at bitcoin. Too small, too open. They use the banks, where "paper trails" are shreddable, and people can be bought. The blockchain is open and buying it is more expensive than all the money they could launder with it. That as much as anything else was Satoshi's design genius. |
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SECTION 10.
No state shall enter into any treaty, alliance, or confederation; grant letters of marque and reprisal; coin money; emit bills of credit; make anything but gold and silver coin a tender in payment of debts; pass any bill of attainder, ex post facto law, or law impairing the obligation of contracts, or grant any title of nobility.
What two people contract amongst each other ought not be impaired by the state. You're misinterpreting Art. I § 10, which is referring to the (currently 50) states. Only Congress may "impair[] the obligation of contracts." A legislative action doing such a thing is, for example, bankruptcy. Even with respect to the states, the prohibition has never been absolute, and certainly is not now. This section of the Constitution was drafted to prevent practices in which the states would either pass "private bills" relieving (usually) some wealthy person of his contractual obligations, or basically pass laws giving the property of foreigners to colonists, causing a fear by the Framers that this would scare away foreign capital. Check Federalist No. 10 by Madison for a fuller explanation. ETA: Incidentally, not arguing your actual point, at least not here, just your citation. Thanks for raising this. Yes, little in the Constitution is absolute. So much nuance and reinterpretations.... Its not so much a misinterpretation if you look at the question asked, though agree that it is very much a stretch. Poster was looking for some general constitutional support for putting the breaks on this sort of FinCEN abuse, and there isn't much there on this matter. So closest is Article 1 § 10, (which arguably limits the state part of FinCEN, even though congress authorized the Fed to delegate this to states), Or 10th amendment, (which takes significantly more political action, rather than legal action) This particular incident would not be one I'd pick to take to the supremes though, and constitutional matters end up there. |
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Thing is, many of these attacks come from people that LIKE bitcoin.... and want yours.
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bitcoin like all crypto is a fad and will be gone soon enough if there is no protections that USD offers. no one will ever accept a currency that someone can steal and nothing you can do about it.
lol the Fed would never back the USD if it couldn't be stolen from you. Please ask somebody in Cyprus about the security of centralized currencies. I'm referencing the Bail-in... are a protection racket. |
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 As of January 3rd, the EPA banned about 80% of the wood-burning stoves and fireplace inserts in the United States. Stoves which are used to heat 12% of the homes in America and are especially needed in outlying rural areas. Fireplaces are also being looked at. The EPA is attempting to reduce particle pollution with new rules. Instead of limiting fine airborne particulate emissions to 15 micrograms per cubic meter (μg/m3) of air, the change will impose a maximum 12 μg/m3 limit. That is equivalent to a person smoking 3 to 4 cigarettes in a small confined space. The draconian EPA regulations will be spread out, one will take place in March and the next in five to eight years. Stoves currently in use will not be affected but obviously, getting them repaired will become more and more difficult. They haven’t yet gone after outdoor appliances or home heating appliances, but can they be far behind? Will people be able to heat their homes in a future controlled by extreme environmentalists? Even fireplaces are being looked at though not included yet. They are part of the future research. Forced air furnaces will also face drastic cuts and are headed for extinction over the next five years unless they meet near-impossible limits to their emissions. The ruling will “require efficiency and carbon monoxide testing and reporting, which will provide consumers additional information to help them select the best wood heater for their homes,” which will cost sellers and home owners time and money as they face an unbending bureaucracy overseeing these simple devices. Some local governments in some states have gone further and banned stoves as fireplaces, placing fines on users. Montréal, Canada has banned them altogether. It gets pretty cold there but they don’t care. The Attorneys General in Connecticut, Maryland, Massachusetts, New York, Oregon, Rhode Island, and Vermont, strongholds for far-left Democrats, have filed suit against the EPA demanding wood-burning water heaters and outdoor wood boilers also be included. The extreme environmental group EarthJustice also filed suit. Senators David Vitter (R-LA) and James Inhofe (R-Okla.), along with Rep. James Lankford (R-Okla.), Chairman of the House Oversight Subcommittee on Energy Policy, Health Care, and Entitlements, et al have been investigating and will continue to hold the administration accountable where possible. http://www.independentsentinel.com/epa-bans-most-wood-burning-stoves-in-a-corrupt-scheme-fireplaces-next/In order to halt global warming, people have to freeze to death... or ask their government for permission to survive? |
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