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1202
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Other / Off-topic / Re: Why would customers use Bitcoins?
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on: January 22, 2016, 05:01:43 PM
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-The fees is not a must part of BTC, you can make a transaction with no fees but would take ages to confirm, The most useful advantage would be the convenience in term of privacy IMO (Things you wouldn't want in your CC record) and in industries with some different opinions about it (Gambling etc...).
With bitcoin, you have the freedom to pay certain parties. With credit card or bank transfer, you cannot do that. please name the certain parties you can pay with Bitcoin but you cannot pay with your card. |
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1203
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Other / Off-topic / Re: Why would customers use Bitcoins?
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on: January 22, 2016, 05:00:41 PM
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I think Bitcoin's having many features which encourage many users to use it as payment method online, especially it's lowest fee comparing with fiat
My focus is also on the fees. Every human being like to save money. If you can save money just by choose a different payment method, it is already very convincing for me. then use a debit card. the cost is ZERO. There is not fee to make purchases(offline or online) with a debit card. It's cheaper than Bitcoin and you have the peace of the mind that IF someone steal your money, you can get it back. It's not gonna happen with BTC. |
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1204
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Bitcoin / Bitcoin Discussion / Re: "We know that Bitcoin itself is a complete failure ..." -chief economist at Citi
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on: January 22, 2016, 04:53:55 PM
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Absolute stupidity and lack of knowledge being shown by that idiot. If you hacked Bitcoin at it's protocol level, which have never happened before, you would automatically be
able to hack all credit card services and SECURE websites. These idiots see sites like Cryptsy and MtGox being hacked and then they think that was a vulnerability in the
Bitcoin code. These sites security has nothing to do with the decentralized Bitcoin network, running on thousands of computers all over the world.
if someone steals your money from a debit card, you get the money back. if this happens with your BTC, you are fucked.  There is no customer protection. The guy from CITI is not so dumb, so chill. Remember, that in this world are living many people(old or young) who doesn't know to protect their computers and even so, you can be hacked. BTC is not for everybody. It is a niche which is mainly used for shitty things(black market). This is the truth. In the past it was E-gold then Liberty Reserve and now, Bitcoin. |
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1205
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Economy / Speculation / Re: Price of BTC?
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on: January 22, 2016, 04:47:39 PM
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This is the price of decentralization! You don't have someone like government to inject value to create a bubble to achieve stability. Price is forming by demand, and demand is bigger and bigger and will rise at this point.  The price is made by the exchangers(their investors). So, it is manipulated. Fake transactions, fake volumes. How can you say that the BTC price is based by demand when the exchangers are separate firms but all of them have ALMOST the same price?!!?!? It's an exchangers` cartel. The BTC price is fake |
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1207
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Economy / Exchanges / Re: itBit requiring SSN
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on: January 21, 2016, 11:37:25 PM
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Is it normal practice for itBit exchange to require your social security number? Does anyone on here use itBit?
Yes. itBit is a finacial license company and they are required by law to ask you such things. Normally, all the exchangers must have a financial license but most of them are out of law, including BTC China, Kraken, Bitstamp, Okcoin and many others. |
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1208
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Economy / Speculation / Re: 400 will not hold
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on: January 21, 2016, 11:33:37 PM
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Well $400 didn't hold, but it wasn't long before it got back to $400 and higher. At the moment it's averaging around $410 and reached a peak of $416 which seems like a good hold for now.
the exchangers` cartel put the bots at work . fake transactions, fake volume. it's so simple. |
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1209
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Bitcoin / Bitcoin Discussion / Re: JP Morgan CEO Jamie Dimon Hints "If Bitcoin Gets Big, Governments will Stop it!"
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on: January 21, 2016, 12:04:04 PM
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As long as it can be exchanged for cash or goods somewhere it will work.
For example lets assume it is banned in the US but remains legal everywhere else. You'd simply see people sending it to someone in Europe who would pay them in usd through paypal or some such. Sure, maybe paypal will crack down on it but as weve seen with every other form of money laundering or fraud, where there is money to be made people will find a way. Moreover, with something as anonymous and easy to send as bitcoin (compared to say drugs, illegal physical items or fraudulently obtained bank or creditcard funds) it would be exceptionally difficult for someone like paypal and law enforcement to to detect and crack down on the practice.
For a ban to work you'd need to make it illegal almost everywhere immediately. Otherwise you'll just have people operating a system such as the one above, which would dramatically -increase- the price due to the lack of supply caused by the closing of US exchanges and the ability of bag holders to name their price.
many people like you does not understand a simple fact. The Govs do not need to ban Bitcoin. The exchangers can be put in jail in the most of their own countries because they do not have financial license. You need a financial license to operate e-currency in all the countries( US, Europe, Asia, Australia as well). Most of the exchangers are out of law. How many of them have a financial license? Maybe 3-4. So, if a GOV wants to "shut down" Bitcoin, they have to raid the exchangers and...done. It's funny how the BTC media is trying to buzz about Bitcoin and exchangers but they don't say: " OKcoin does not have financial license" or " Kraken is operating illegally in USA" or "how are BTC China/Lake BTC operating in China when the chinesse gov banned all the financial institutions to deal with exchangers?" or "Bitstamp is without financial license but they do operate in EU and USA.. It's well known that USA requires license if you want to deal with US citizens even the company is not based in USA. We hear about a lot of money invested in these firms but we do not hear about REAL compliance which means financial license. These are simple questions but the BTC media ignores them. Why? |
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1210
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Bitcoin / Bitcoin Discussion / Re: What's stopping people from using bitcoin?
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on: January 21, 2016, 11:44:03 AM
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I ever stopped a few months to use bitcoin, but then I use bitcoin again
I stopped at the time because bitcoin prices plunge fall to $ 150- $ 180
you made a wise decision. you have debit cards with ZERO fees and instant transactions and guess what? the debit cards are electronic money too |
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1211
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Bitcoin / Bitcoin Discussion / Re: JP Morgan CEO Jamie Dimon Hints "If Bitcoin Gets Big, Governments will Stop it!"
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on: January 21, 2016, 12:43:01 AM
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But which government? Assuming that China's hash power and possession style of btc I am not sure that if US tries to stop it, it stops. It would like marihuana or something like that. By the way, Bitcoin getting serious by companies. Purchasing chain completed with debit cards and ATM. You can easily spend btc without using US dollar now. The government may want to regulate it in the future maybe... They want to know the transactions and real names. what american will send bank wire to China in order to buy BTC or to receive wires? the americans are used to send local bank wires. |
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1212
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Bitcoin / Bitcoin Discussion / Re: JP Morgan CEO Jamie Dimon Hints "If Bitcoin Gets Big, Governments will Stop it!"
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on: January 20, 2016, 11:35:16 PM
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What a buffoon, you can't stop a decentralized system.
yes, they can "stop" it very easy... The FEDs will put in jail all the US exchangers without financial license.How many of them have license? 2-3? this will be the end of BTC. Also, they can ban foreign exchangers to use USD. All the correspondent banks for USD are from USA. It's so simple. Bitcoin without exchangers = like dead It might lose more of its monetary value, but it can still be utilized among circles that are willing to trade it for one good or another. Heck, even on the dark web you'll still be able to exchange it. It just comes down to how much people will value anonymity instead of convenience. Yes, the dark market will continue to use it but the normal people NOT. US gov does not have to ban Bitcoin, they just need to apply the law and the law is simple. "Are you an e-currency exchanger, trading company, etc? You need a financial license to operate. Don't you have one? You will go to jail". It's that easy. It happened with some exchangers(make a search) in the near past. |
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1213
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Bitcoin / Bitcoin Discussion / Re: JP Morgan CEO Jamie Dimon Hints "If Bitcoin Gets Big, Governments will Stop it!"
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on: January 20, 2016, 11:24:03 PM
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What a buffoon, you can't stop a decentralized system.
yes, they can "stop" it very easy... The FEDs will put in jail all the US exchangers without financial license. They already did that with few. How many US exchangers have license? 2-3? Most of them are illegal. this will be the end of BTC. Also, they can ban foreign exchangers to use USD. All the correspondent banks for USD are from USA. It's so simple. Bitcoin without exchangers = like dead |
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1214
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Bitcoin / Bitcoin Discussion / Re: Washington Post: 'R.I.P. Bitcoin. It’s time to move on'
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on: January 19, 2016, 10:48:15 PM
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Washington Post is quite often told stupid things. So, who cares? BTW if the Chinese miners start to commit suicide en mass and the buy side will be empty on all major exchanges then I might believe in the end of bitcoin.
you should count that the volumes are fake. all the exchangers have fake volumes(more than 50% are fake just to attract more customers who will think"hey, this exchanger has a lot of transaction. it should be good" ) |
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1216
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Economy / Exchanges / Re: How Cryptsy can save itself
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on: January 18, 2016, 08:50:45 PM
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so I'm not sure if Big Vern will be in the position to carry on with managing Cryptsy. "Big Vern" needs to be found and arrested for fraud. If you lost money in Cryptsy, you need to be talking to the Florida cops. they didn't have financial license anyway. it is not necessary to be a fraud. the absence of a financial license can bring them up to 6 years in jail. |
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1217
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Bitcoin / Bitcoin Discussion / Re: Bitcoin is DEAD...
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on: January 18, 2016, 08:46:10 PM
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This word, this dead word. It needs redefining. If bitcoin is dead while at almost $400, then it can be resurrected and eat the planet whole.
But really, if there are still people willing to lose their shirts on dice sites and people who need to buy deviant pornography and weapons and drug addicts who need drugs, there'll be bitcoin. It serves all of these things nicely.
good point. it was E-gold, Liberty Reserve in the past. Now, it's Bitcoin. |
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1218
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Economy / Exchanges / Re: Cryptsy customers: Do you favor a buy out scenario?
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on: January 18, 2016, 07:07:36 PM
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You forget one important aspect. Cryptsy is based in USA and you(as new owner) will need a financial license if you want to trade without the fear that someone may knock at your door one day.
If you want to take a financial license in California(where Cryptsy is based), it will take up to one year and a LOT of money and tons of papers.
So, any investor with half of brain will not put any money in Cryptsy. What do they offer? Yes, a database with customers(I doubt they have 300k) , a company and nothing more. Yes, they do offer a lot of problems you have to fix. You have to fix their platform too. That means a new one with a huge cost and so on.
So, you would better put the money in bank than throw them away.
Cryptsy International LTD, a Belize Company Project Investors Inc which operates Cryptsy International LTD is from Florida, USA Also, even you are registered in Belize and you don't have any office in USA BUT you deal with US customers you MUST have a financial licence from USA(from each state). FINCEN registration is NOT a financial license. |
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1219
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Bitcoin / Bitcoin Discussion / Re: A Chinese miner's response to "Bitcoin is Dead"
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on: January 18, 2016, 03:35:34 AM
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If chinese companies are investing in bitcoin
then bitcoin has a very profitable and prosperous future
the chineses see BTC as an opportunity to make quick money. they don't give a shit on a "prosperous future". they want fast profit and then...they will be out. |
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