What if he is working on something new? Something that would outshine Bitcoin??
I think he is not working on anything new, since he is allready rich, first few thousands of BTC mined are his, i'm sure. This can be checked somehow i guess, who was the first miner and how much did he mine so far ? He has little ways of being able to cash out of his bitcoin holdings. So while he may have a lot of assets (bitcoin) he has no way of exchanging them for goods/services that he needs. That's not exactly true. Right now there a lot of exchanges open that would easily be able to deal with 50-100BTC which would easily suffice for the short term day to day costs. We don't know all of his addresses and as long as he does not withdraw excessive amounts very rapidly it'll be hard to track him down. A couple hundred of BTC over the course of a year would make him quite comfortable without drawing too much suspicion provided that the trades were done in regular small amounts. If even one coin moved it would be instantly noticed. His coins have never moved. He did transfer some of his coins in the early days of bitcoin. https://bitcointalk.org/index.php?topic=91806.msg1012234#msg1012234Since he has disappeared, AFAIK he has not moved any of his coins. |
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The only way to find out is to do a test. buy 20 of them and see how they sell..
What you might be better off doing is buying the miners in bulk lots of 10+ and reselling them individually for a small profit. This should save shipping costs and people are usually willing to buy more for an individual miner.
Yup, this is what I intend to do. Just buy a whole bunch of them for cheap and resell them individually. Saves on fees and shipping costs as well. Because people who are selling them in lots of 10+ tend to want to get rid of them as quickly as possible so they sell them for cheap (per unit). And people who want to just experiment with one or two don't want to buy 10+ so there is an opportunity to profit. 2. For those BE, the electricity cost will be larger than the bitcoin you can mine with them.
Really? But these are ASIC chips inside these miners. And a USB slot uses very little power. If true, then I didn't know the situation was this bad.  Power on these are very little but you will have to have powered hubs. If you search there is a great thread on how many can go on certain models. But i would really look into fee's. I think by the time you add up shipping, ebay, paypal. Profit will be very very small if any. The USB miners are not very efficient in terms of Ghs/watt. The newer, higher hashpowered machines have much better efficiency. |
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Faucet it is really dont worth your time, but some are my favourite, it really dont takes a lot of time and convenience and easy to use for newbie like me
just for fun
Yeah -- just for fun. Not really for "earning bitcoins."  If you don't have fiat money to put into bitcoin, look into things you can sell to raise capital. Get a part-time job and put some of your paycheck into it. Sell services online, in the forum marketplace. Sell signature space. Selling things on these forums or signing up for a signature campaign are much better ways to earn bitcoin then using a faucet. |
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Cloud mining -- I suggest not. I really encourage people to run the numbers against difficulty trend to determine mining profitability. Cloud mining has been shown to be by and large unprofitable. Better to buy crypto directly. Cloud mining is almost certain to never ROI, another issue is that buying shares in Cloud Mining contracts makes mining more centralized as you cannot easily change pools that your hashpower is pointing to. |
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It sounds like there are alot of scared people here.What is wrong with moving money offshore? The USA is not GOD, it has nothing to do with the us gov. Can a company in Norway wire money to an account in Belize? If so then what does that have to do with the USA. I will let you fill in the gaps on how that is done with bitcoins.
If you are a US citizen then you must report this kind of activity. The requirements for doing so are very burdensome and the penalties for not reporting offshore accounts are severe. |
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The total $ swaps stay around 29M$, while the bid sum is just below 4M$. Looks so healthy ... not.
But as long as the BTC swaps don't jump, this can continue for a while.
As the swaps mature the other party to the swaps will likely want to enter into new swap agreements. |
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I would argue that this is a very big step in the right direction to get bitcoin to start trading as an ETF. I would say that ETF trading would likely push up the price over the long term.
It should also be noted that second market recently announced an open ended mutual fund that will invest in bitcoin
Do you have a link to that? It's value is calculated every day at 4 PM eastern time, and charged a 1.5% fee to buy and 2.0% annual fee. You need to invest a minimum of $25,000 |
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newbie here and just wanted to learn tips and tricks  any tips are gladly appreciated  Never gamble more than you can lose. Gamble responsibly. The only real reason you should be gambling is for a form of entertainment. Gambling will always involve some kind of risk and the house will always have an edge. |
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If you are looking to make money with BTC than i have to say that Getting paid for signature space is not enough. You can earn a little amount through signature space. I think mining is a better option.
Not true, mining have much much more risk than signature payment. For example, difficulty suddenly increases a lot, electrical cost suddenly increase, ASICs not getting delivered. It is possible you might never make ROI. Signature campaigns however only require you to post in this forum, there isn't much risk. AFAIK, Stunna 's primedice campaign pays 0.48 max, that is already quite some money. With mining you have to put some kind of capital to risk. You either need to pay for the miner in fiat or use bitcoin to purchase the miner. You would then need to hope that the difficulty does not rise fast enough so that you will not reach ROI (more likely then not it will). With signature space all you are risking is the time that you are spending on these forums, which is time that you should be spending here regardless. |
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SELL before it reaches 1$ or below!
This is just FUD. I don't think that LTC or any other altcoin for that matter has any real, long term value. It may be profitable to trade LTC over the short run, but there is nothing that you can do with it other then sell it for bitcoin |
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the fed has done a pretty good job of minimizing inflation with interest rates over the past several decades.
Do you really believe the graph and what you just said? I would argue that 4% inflation (the ~rate after the 70's) is a good target to try for in reference to inflation. During the 70's and the oil crisis the Fed did a very poor job handling inflation. 4% inflation is just above what the Fed would like it to be at as of now, and is much higher then it is now. Exactly! 4% is a happy medium between everyone's life savings is rapidly declining in value and that inflation is so low that there is serious risk of wide spread, long term deflation and economic contraction 4% inflation is very high. Losing 40% of your saving every 10 years compounded to financial elite on top of taxes mean no ordinary citizen will be able to have any saving. Only if your income doesn't keep up. If you sell goods or services those prices rise w inflation No, this a common misunderstanding. Even when you pay raise comes timely, is is only neutral for your consumption, not for your savings in money and money denomitated securities. It makes saving in money impossible, and force savers to investments involving risk. All investments carry some type of risk, otherwise there would be no incentive for others to pay you interest. Traditional "savers" (those who put money in the bank) are risking that inflation will eat away at the buying power of the money they have in the bank. |
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I'm relatively sure that the people whose baseline for profit projections that they used (overstock.com) where quite surprised when they first implemented bitcoin as a payment option as well. Pretty soon accepting bitcoin as a payment option will no longer be a competitive advantage but rather a necessity!
With consumer funded tx fees and no usurious fees from credit card processors it just makes good sense to accept bit coin. That and the constant trickle of new people into bit coin make it inevitable. Consumers ultimately pay the credit card fees via higher prices. The concept of having the sender pay fees is much more transparent. We also pay a premium to offset fraud and chargebacks. Once business owners get over their fear of the new it will be an easy choice. This is also true. I think one major thing that is holding businesses back from accepting bitcoin is the fact that it is a new unit of measure |
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So how much can you make using martingale? It seems very little then.
I have tried a few runs with one satoshi as base. At lucky times, I made 200% the amount in one day while I have lost 0.001 within seconds on many other days. Your expected profit is and will be negative since House edge exist, people only use it because they think they can succeed. Do you have any screen shots of you doing this? I think that it is very far fetched that you could have tippled your money using the martingale system. |
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the catch: you give all your money away to the better traders.  This is not necessarily true. If you truly know and understand the market then you can potentially make money from "day trading" At this point the market has become too large and efficient for day traders to really profit. In other words the market reacts to new almost instantly and is accurately priced. |
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My guess would be bitcoin will never hit $10k, hope I'm wrong though.
hmm, why? i mean, i am not sure either way, but the historical trend says we could certainly get there. and with all these advancements in the industry/infrastructure, interest from institutional investors, green lights from governments.... i think we get there. If history is any indicator then bitcoin will likely reach 10k in either the next runup/bubble or the one after the next. |
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Does any one else worry about all the incoming sell pressure as more and more mainstream businesses start taking Bitcoin for payments yet cash out instantly to USD or EUR? What if Amazon starts accepting BTC? It sounds good but doesn't it work out to them taking mass amounts of Bitcoin in and selling it for USD?
nope bitpay for instance do not sell on exchanges.. instead large investors give bitpay dollars behind the scenes and investors receive bitcoins.. (research th $32mill investment bitpay got) thus no bitpay bitcoins eat away at exchange buy orders... thank god. and i imagine the winklevoss and their "authorized participants" will grab their baskets of bitcoins the same way.. private trades away from exchanges. but coinbase is a different story.. they are still kinda attached to the merchant transactions hitting the coinbase public exchange Any time an exchange of bitcoin for fiat is done the price will somehow be affected. The $32 million investment in bitpay was not for them to buy bitcoins with but rather to purchase infrastructure. Anything sold converted to fiat via bitpay will eventually make it to an exchange the $32m was for capital... ill leave you to research the meaning.. plus it was not a donation to pay off building costs/mortgages, never to b repaid.. it was an investment.. oh and guess what th investor wants as means of return...... need i say it!? The capital was given to them in exchange for an equity stake in the company. Hopefully bitpay will show a profit and can repay the VC investors via dividends over time. Bitpay's source of profit would be the fees they make off of processing bitcoin payments. In order to prevent themselves from being forced to take losses of their bitcoin holdings when a customer needs to exchange bitcoin for fiat they would need to sell the bitcoin on the market. |
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The analysiz by Sergej Glazyev in the original post is mostly correct in my view.
The bank transfers, the credit card systems and all world remittance systems have all been captured by the bullies in the united states government. (That doesn't mean that the russian government are not bullies).
What the russians could and should do, is to establish a network of banks/exhanges in all countries totally disconnected from the current bank system, offering deposit accounts in rubles and renmimbi (and others) combined with market based exchanges for these currencies. For USD, only deposit and withdrawal of notes. Of course they would have to stop meddling with their exchange ratios.
That would take some of the power out of the USA bank hegemony.
Globalization would prevent this from being successful. Since Russia needs to trade with other countries and most trade is denominated in US Dollars, there would be a demand to have US based banking transfers. |
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I can tell you from a business perspective that people get easily confused with mBTC even right now with its attempted use. Something like this needs to be 100% adopted, meaning that the use of the BTC would be thrown out completely in favor of mBTC. Without full adoption, the conversion will always be a hassle unless you're already very familiar with it (or mathematically inclined).
I agree, all the different ways to measure bitcoin (mBTC, and uBTC) make it very difficult to figure out exactly how much the price that a specific good/service actually costs. |
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I'm relatively sure that the people whose baseline for profit projections that they used (overstock.com) where quite surprised when they first implemented bitcoin as a payment option as well. Pretty soon accepting bitcoin as a payment option will no longer be a competitive advantage but rather a necessity!
With consumer funded tx fees and no usurious fees from credit card processors it just makes good sense to accept bit coin. That and the constant trickle of new people into bit coin make it inevitable. Consumers ultimately pay the credit card fees via higher prices. The concept of having the sender pay fees is much more transparent. |
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so begins the explosion
Yep. Bitcoin did shoot up $50 in a day or two. $50? It is very optimistic... Bitcoin has moved by much more then $50 in one day before, it has swung by more then $50 in an hour. Bitcoin went up over $50 in the days after the USMS auction. |
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