Obviously, converting your $100 to bitcoins incurs an expense, and then if the recipient wishes to convert those bitcoins back out to USD further expenses are incurred. So using bitcoin simply as the payment network does cause some of the value to be lost. But then again. the same goes for a payment when Visa/MC or PayPal is used (for a commercial transaction). If you are in the U.S., you can take your $100 to a Bank of America or a Wells Fargo Chase Bank and deposit that $100 into the bank account number provided by ExchB ( https://en.bitcoin.it/wiki/ExchB#Bank_Branch ) Mt. Gox. Then subtract the minimum $1 deposit fee and you left with $99 You will then have USD in the account to buy bitcoins with. After you have bitcoins, you can then withdraw those to your own bitcoin address (from your local bitcoin client preferably, or from a mobile app or an eWallet service even) and then from there send those bitcoins on to whomever you wish to pay. |
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Many customers use Bitcoin as their margin to trade, so we have Bitcoins to sell when there're short positions. Are you referring to having BTC to sell on Mt. Gox so that you have MTGUSD available for when those shorts cover? But that is an um, ... unique approach. With each 1.0 BTC giving $20 USD (at currency BTC/USD rate of $4) of buying power, this would help explain why the concept we know as the weekend dip may be nearing a conclusion. |
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If you have some, bring Bitbills or physical bitcoins (or both) and a smartphone with the Bitcoin Wallet android client or http://www.webcoin.ch access. The sign doesn't hurt, but the physical bitcoins are what show that bitcoin is here, now -- ready for us to try using to try and disintermediate the bank. |
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I have been trying to promote bitcoin a bit on facebook and other pages for the 15th october global protest...
Isn't what the protesters want, exactly down to almost the tiniest detail, what bitcoin will offer?
A currency that can be used as a store of wealth that can be transferred globally, with the ability to be transferred anonymously, is not something those carrying the sign "tax the rich" wish to see gain wider use. On the other hand, there are many in attendance with whom the following message resonates: "Stop giving the bankers your business and your data. Instead Use bitcoin, an online digital currency. bitcion is decentralized blah blah blah" |
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Could it be done an alternate cryptocurrencie with the following assumptions?
- used mainly as a cryptotransfer money exchange.
- the coins are not mined but issued.
- the blockchain is still shared and validated by all the pc connected to the network.
- uses the same address transfer process.
Perhaps this is a stupid simple question, perhaps you didn't even understood my questions, but please answer back.
Thanks in advance.
Just like how I0Coin created no coins upfront, a variation could be made where all the coins are issued with the first block, for instance. I believe BeerTokens is an example of this idea, implemented: - http://exchange.beertokens.info/docs/beer-crypto-currency-trust.pdfI would suppose the hardest part is if the currency attempts to emulate bitcoin's decentralized nature then there is the need for significant mining efforts to occur so that the double-spend attack (er., the reverse and respend attack) isn't easily attainable through achieving 51% of the network strength. If you don't want decentralized, then I suppose you could get by simply by having at check that the hash for each block matches up against the chain's master node. But if you are going to do that, there are easier ways to do so than to add the overhead of Bitcoin's block chain approach. |
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Ok so the wallet holds all the old address + 100 (key pool).
Right?>
Using the defaults, correct. The size of the keypool can be specified with a command line argument. |
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Casascius,
May I request 10 blanks of both the 25BTC and 1 BTC coins be shipped to Korea? We haven't eliminated your coins nor Bitbills from being implemented widespread in Korea and we need some samples to get a better idea if you don't mind.
Blanks, as in the peeled-open shells? Or blanks as in ... intact, just with no value? Even though I wouldn't accept one of these as payment without first verifying the code I wouldn't want the potential for there to be "blanks" floating around. |
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Weird, my transaction isn't showing up.
Ya, the tid probably needs to be a real tid of the transaction prior to yours. Or something. Either way, that seems to answer my question, thanks!  Super! |
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It could be related to the problem today that affected the #bitcoin-market IRC channel (gribble klined). Not sure though.
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This is one of those things ... in hindsight, so obvious that it is needed. And a relatively easy thing to do too.
Thank you much for taking the time to do this!
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When you say gold plated alloy, are you referring to gold as in the color, or gold as in metallic content?
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Would you put the page you serve into a repo (e.g., GitHub) so that a specific revision can get a closer security review and then each change can be easily identified and scrutinized individually?
This will help assure that the html/js being served has been reviewed.
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I wrote to their media and communications contact to inquire if there any projects related to Bitcoin underway there. Will report back here.
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