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1041  Economy / Economics / Re: Effects of trading 1500 BTC @ 200 USD in one act? on: April 17, 2013, 04:17:09 AM
Also, I'd like to know what is the effect of this act on the market.

Clark Moody has a calculator to tell you the slippage.  Click "Show calculators", and enter the 1,500 BTC value.  At this moment, slippage is about 2%.  In other words, a pretty trivial number.  It can vary greatly moment to moment.

 - http://bitcoin.clarkmoody.com



1042  Bitcoin / Bitcoin Discussion / Re: Bitcoin Monitor, is this real or a bug? on: April 17, 2013, 04:08:10 AM
If you are talking about the blue line that is downward sloping, a mixing attempt that chips a little off at a time would look like that.
1043  Economy / Goods / Re: Any authentic luxury goods stores accepting Bitcoin? on: April 17, 2013, 01:51:55 AM
The kinds of things I am talking about include: Chanel, Gucci, Louis Vuitton, Burberry, Jimmy Choo, etc.

Main issue I see with this is the high likelyhood of fakes, even if high quality I'm only after the real deal.

Seems like a natural fit, right?  Certainly any existing sellers have problems with chargebacks / high risk merchant accounts.

Are you doing market research?
1044  Economy / Marketplace / Re: is there a website which informs of all new Bitcoin-accepting places? on: April 17, 2013, 12:23:02 AM
Pretty scattered around the interwebs.

The Trade page is pretty comprehensive, but nowhere near complete.

Here's a collaboratively built list which can useful to find new additions:

 - http://www.reddit.com/r/btcbase/new

Also, a list here:
 - https://twitter.com/ClubAlpaca/bitcoinmerchants/members
1045  Bitcoin / Bitcoin Discussion / Re: How many people never plan to repatriate BTC to FIAT on: April 16, 2013, 11:38:17 PM
I will exchange for gold. 1 btc = 1 troy ounce of gold. Not cheaper. )

It wasn't that long ago that such a day arriving seemed so far off.  With gold dropping the chances of Bitcoin hitting that in the next year or two (or less even) would not be surprising.
1046  Economy / Trading Discussion / Re: Make Deposit from Canada to BTC-E? on: April 16, 2013, 11:02:13 PM
What's the best way to make a deposit from Canada to BTC - e? 

You can make an international wire transfer (using USDs) but it probably won't be cheap.
 - http://en.bitcoin.it/wiki/BTC-E#Deposit_options

Another method is to open an OKPay account and wire money to them that way.
1047  Bitcoin / Press / Re: 2013-04-16 Forbes - Bitcoin: Whatever It Is, It's Not Money! on: April 16, 2013, 08:40:16 PM
he's too old to understand Bitcoin.

His age has nothing to do with it, but his target market that reads his words certainly does.   He's simply using a tired argument that exchange rate volatility is bad for a currency.  He's not incorrect, but that doesn't mean bitcoin won't succeed as a currency.   There's a difference.  He probably knows that but is describing to his audience what they want to hear.

Now what is surprising is that Steve Forbes isn't making the connection between Bitcoin catching on and that helping his cause of moving to a flat tax.   If bitcoin essentially makes income tax something voluntary (since the state will have a much harder time with enforcement of the tax laws) then a flat tax is about the only solution. 

For some reason, either he hasn't made this connection or doesn't want to share it.
1048  Bitcoin / Press / Re: 2013-04-14 Bitcoin Miners Are Racking Up $150,000 A Day In Power Consumption... on: April 16, 2013, 08:15:23 PM
But still I think a fundamental equation holds that the market will balance when:

rate of mining income = rate of capital repayment + rate of profit + electrical power cost

Can we agree on that?

Over the long run, yes.

the rate of electricity consumed will remain broadly proportional to USD/BTC. i.e. even if ASICS turn out to be 3 times more efficient over their lifetime, that won't compensate for the price of BTC increasing 1000 times.

Absolutely, if there is a doubling in the exchange rate, there will be a proportional increase in the amount of electricity consumed, unless further efficiency from hardware design can (and likely will) come.   I had expected the cost of hardware to drop as higher quantities are produced but with demand far outstripping supply we're not there yet.  But regardless of the proportion, you are correct.  A higher exchange rate will cause a greater amount of electricity to be consumed.

There was handwaving about this in the media as early as 2010 when most mining was on CPUs, ... with projections that if bitcoin caught on it would consumer a quarter of all the world's electricity demand (or some whack number like that).  Even using the power draw if all mining were done on GPUs today, daily power consumption is a fraction of the daily energy consumed at even one gold mine (my assertion, without actually having calculated it but I've literally stood under the trucks that mine ore and can say with confidence that moving dirt around consumes one hell of a lot of energy.)
1049  Economy / Goods / Re: Foodler.com Feeding Bitcoiners across the US on: April 16, 2013, 07:27:25 PM
Alright alright, I didn't know that there was an eating in restaurant option!

Is that really offered?   Then why do they only show takeout / delivery on the site?
1050  Bitcoin / Bitcoin Discussion / Re: Payment Processor That Gives Payouts in Bitcoin? on: April 16, 2013, 04:25:56 AM
I'm looking for a credit card processor that pays out in Bitcoins rather then wire transfers.

Nothing works like this, but others have asked:

Looking to accept USD and transfer to Bitcoin
  - http://bitcointalk.org/index.php?topic=134373.0

Real money to Bitcoin payment processor
 - http://bitcointalk.org/index.php?topic=113336.0

Where (country) are you (i.e., country?)  
1051  Bitcoin / Technical Support / Re: Any reason the receiver wouldnt be showing funds I sent? on: April 16, 2013, 03:51:44 AM
Thanks for posting this. I was about too.

I don't know if this helps at all or not but here is what my account looks like http://i.imgur.com/SV0RYlt.png. I'm missing the transaction mentioned above for .171. It should appear at the top of the list.

You didn't mention which client.

If that is Multibit, try reset:
 - https://multibit.org/help_resetBlockchain.html
1052  Bitcoin / Mining / Re: What chain of events made bitcoin crash/drop? on: April 16, 2013, 12:38:25 AM
it will just rise up to fast so no one will use it to buy products because 1 day you can be paying $100 and the next you just paid $200 due to the bull market.

Care to answer why FedEx and UPS have dropped off packages today then?  (ordered a week ago today, as the exchange rate was rising).

Incidentally, I've not made a single purchase using bitcoins since the selloff began.

This would seem to be counter to the hoarding argument.  I make more purchases with bitcoins when I think the exchange rate is too high. 
1053  Bitcoin / Press / Re: 2013-04-14 Bitcoin Miners Are Racking Up $150,000 A Day In Power Consumption... on: April 16, 2013, 12:16:25 AM
There will be a tendency for the same electrical power to be used whatever the technology. ASICS just go faster for the same power.

I doubt that.

It might cost $400 for a GPU that burns over $400 per year in electricity.  So given a 2 year useful life of the GPU, about a third of the mining costs are incurred for the hardware cost and two-thirds are attributed to the electricity.

With a $5K Avalon ASIC, that chews $780 per year in electricity.   So given the same 2 year useful life, about three-quarters of the mining costs are incurred for the hardware cost and just one quarter is attributed to the electricity.

So over time the tendency will be for mining to reach break-even, then at that point two to three times more electricity will be consumed when mining is on GPUs versus when on ASICs [Edit: at the same BTC/USD revenue level].
1054  Other / Beginners & Help / Re: Bitcoin-QT: System Error: Database Corrupted on: April 15, 2013, 11:56:41 PM
Can my coins somehow be retrieved?

If you made a backup, try that first. (Well, make a backup of the possibly bad wallet.dat before restoring anything).

Or try importing it here and then if that works, start over with a new, empty wallet.dat and send the funds back.
 - http://blockchain.info/wallet/import-wallet
1055  Bitcoin / Technical Support / Re: Weird bug: old BTC transactions suddenly become not confirmed? on: April 15, 2013, 11:35:00 PM
I have a bunch of old BTC transactions between 4/10 and 4/12 that were confirmed long ago.  But somehow today, they all suddenly appeared as not confirmed.  Newer transactions are not affected.

Any ideas what's going on?

A confirmed transaction can drop to unconfirmed if was double spent when a block reorg had a different transaction.   That doesn't happen a whole lot, and the transactions affected during the March 11th hard fork were the only ones since 2010 that a transaction with six confirmations on the longest chain reverted to being unconfirmed.

So if you had a confirmed transaction revert, it would have had just one confirmation most likely,

Check to see if the payments show on Blockchain.info.
1056  Bitcoin / Meetups / Re: SoCAL BITCOINERS Poll: Where to meet??? on: April 15, 2013, 11:04:07 PM
cool, I just rsvpd for the meetup on monday.

Any report on how that went?

Also, heads-up:

Next week in Southern California (Los Angeles and/or San Diego, I couldn't make it out), the first Bitcoin ATM will be deployed [Edit: demonstrated].
 - http://bitcointalk.org/index.php?topic=177397.0
1057  Bitcoin / Press / Re: 2013-04-15: Fox Business: Bitcon Crash Coming? Jeff Berwick Interview on: April 15, 2013, 11:02:06 PM
I'ld like to know more about where this ATM (s) will be in Southern California.

1058  Bitcoin / Alternative clients / Re: Bitcoin wallet for feature phones on: April 15, 2013, 09:35:52 PM
You can access it here:
http://sarafu.net/

Very, very nice!

How about a secure (SSL) site?
 - http://m.sarafu.net  [Edit: the mobile site itself is secured with SSL.]

Also, the domain is registered with privacy protection.  Who is the operator (i.e., you personally, or a company/LLC)?  

And security of E-Wallet, ... are coins kept in cold storage with a hot wallet?
1059  Economy / Goods / Re: Foodler.com Feeding Bitcoiners across the US on: April 15, 2013, 08:47:51 PM
PM me if you want a referral code.

Oh, cool, affiliate program:
 -- https://www.foodler.com/user/friends.do
1060  Bitcoin / Bitcoin Discussion / Re: Bitcoin anarchy in need of some rules | NY Post on: April 15, 2013, 12:43:38 PM
Members of the bitcoin community are starting to wonder if anarchy is the best policy,

We don't have anarchy.    Competing exchanges have been regulated out of existance.   BitMe.com shut down hours after FinCEN guidance was released saying they would be classified as a money transmitter.  If we had anarchy, BitMe would still be taking cash and selling bitcoins.

If he had anarchy, then the operators of ICBIT exchange would be willing to share info like who they are and where they are located.  Because trading of futures contracts is a regulated activity in most areas they operate anonymously.   When the exchange rate was skyrocketing, over the past weeks there was lots of interest in buying contracts but there wasn't much liquidity.  Part of the reason is counterparty risk - who feels comfortable sending larger amounts of bitcoins to sites operated anonymously?

If we had anarchy, or just free markets even, we wouldn't have had such a spike to $266 because hedging and shorting would have absorbed the upward pressure and then on the way down short covering would have provided support rather than seeing a drop to mid-double digits.

We need LESS regulation, not more.  We need MORE freedom to transact among ourselves without intervention.
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