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Also, there are varying money laundering laws that look a lot like those limits.
such as?? for instance, the in the United States, only CASH deposits (or withdrawals) of the arbitrary amount of $10,001 or greater are subject to any "limit". Cash meaning printed federal reserve notes. Not anything electronic, or check, or anything. And this limit means simply filling out a federal form stating that this transaction happened. (Currency Transaction Report, CTR) there is no limit or prohibition to those large amounts. but it is a crime to not have the CTR done or to try and avoid it via structuring. Mt Gox is in japan right? I dont think japan has more restrictive cash controls than america, if any there could be some regulatory issue - such as the OP mentioned - liquidity, fractional reserve
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Its a game to me
are they hiring market makers?
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Money Laundering - the crime - is ONLY the act of concealing the origin of illicit funds.
If origin is not illicit, no crime has been committed. No matter if you use remittance services, buy diamonds for no reason, western union, offshore entities etc.
The burden of proof is on the accuser to determine the origin of the funds.
This is also usually ONLY a crime when tax evasion is involved, this is the only time a multijurisidictional cooperation will be saught for a money laundering case. (in USA, it is also illegal to pay taxes on actual illicit money laundered funds)
So again, concealing the origin of funds is not inherently illegal.
bye
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I understand this is not necessarily profitable, was just looking for second thoughts and hoping people would provide resources
thanks so far!
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Hello, since bitcoins are currently unregulated I can freely ask this
How much money does it take to move the bitcoin bid and ask. If I threw $1,000,000 at the buy side will bitcoin go up $5 starting a rally?
Similarly if I threw $1,000,000 on the [short] sell side will bitcoin drop to $1 making a nice entry point. Would I even be able to cover?
Thoughts appreciated thanks
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Hello, I looked at some bitcoin only services and saw that a decreasing value in bitcoins made their service no longer worth it
what is the magic value for bitcoin to current USD for things to be worth it. btc$15 ? btc$20 ? thanks
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I have never called anyone a troll on this board, and have been accused of being a troll on a few other boards, but I'll take a stab at this. Of course, I'm not a troll, but that's also exactly what a troll would say, so you have to be wary of people claiming not to be trolls (I know, very meta)
Most people assume trolls are idiots. This is greatly (but not always) true,or they wouldn't spend their time trolling, they would find something better to do.
Most people who are smart enough to actually understand BitCoin (or think they understand it, at least) and interested enough in it to discuss it are CONVINCED they are correct in a lot of cases. However, the appeal of relatively concrete (in the investor's mind) long term gains makes them feel "smarter", and feel a need to disparage people who point things out they didn't see, because how could they be stupider than the investor and still see this real weakness in BitCoin that the investor didn't see.
This is the Internet. Trolls are a relatively hot meme now (also very meta, and ironic, also a very hot meme on the Internet, and throughout human history.
People react irrationally to truths they don't like. Hence, someone who is long on BitCoin will sometimes ignore a real potential weakness in their investment position on the grounds that someone is a troll (in their flawed subjective opinion).
And trolling is kind of subjective - the troll may believe he has a point, whereas the individual could only perceive it as an attempt at trolling. And of course, there are actual trolls out there some of the time, which people mistake for real user, also known as successful trolls, as rare as they should be (but sadly aren't).
But the reason people accuse people of trolling when they aren't trolls, and are actually pointing out legitimate weaknesses, shortcomings, hurdles, or even breaking points in anything, let alone money is because they're idiots.
Way bigger idiots than actual trolls.
okay, this basically confirms what I was seeing
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Okay guys, this is intended to be a rational market thread.
How come everyone that points out bitcoin weaknesses are called trolls? I mean I have seen some entirely well thought out posts simply showing supply/demand based cons of bitcoin (sorry, no citations for this thread) but the first reply is always a reference to the OP being a troll
EVERYONE in here long at Bitcoin/USD $30 and absorbing a huge paper loss? The only reason I can come up with for this kind of behavior is that people are married to their speculative positions
anyway, hoping someone can explain the mentality. I can accept flaws in investments in slightly more rational markets (with more short selling participants) ie. I've made more money shorting gold than buying it just because I know it is mostly retail traders and they are stupid, I shorted BP for 30 days, shorted AIG, Bank of America, etc etc. But I don't really talk to people when I decide that there is something negative about the current price of an asset, I just do, yet here when I see people talking about rational negative qualities about the bitcoin asset, they are automatically trolls
I understand that in the general public (or perhaps tech. community), people DO have a negative opinion of bitcoin, but here I see very well thought out discussions... so please explain how these people are so easily villified
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It's just weird thinking that we'll all be buying hotdogs at 0.00000001 bitcoins in a few years. I guess people will have to be comfortable with exponents real soon.
yeah this is what I was getting at: it seems that it can be divisible so people will just make sub-denominations, where 1 actual bitcoin will be like owning a gold nugget.
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Given that there will only be 21 million bitcoins in existence, with an untold number of them disappearing into the void and unrecoverable, I feel like this utopian acceptance is a march toward a great poverty!
Now, granted - bitcoins are very easily divisible to smaller denominations, and 1 BTC could easily turn into a cherishable value.
I just feel like 21 million in existence with no recourse for missing bitcoins presents a problem.
Discuss?
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Futures products such as CDOs and Derivatives are prima facie evidence of under counter malicious activity by suicide bankers and other financial terrorists.
and you can make a ton of money, I'll call the CBOE on Monday morning
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wow, this is developing fast! A few bad press puts bitcoin on everyone's radar and the market pours itself in!
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Hello, I would like to trade bitcoin difficulty futures, or any other derivative of bitcoins
I haven't seen these products in existence yet. Should I call up the CBOE?
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Hello, I would like to periodically short bitcoins
or possibly, short the right to short bitcoins. I like derivatives.
Is there any shorting on the bitcoin exchanges, or do you just reverse the direction of your BTC/Currency of choice trade?
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The idea was to generate bitcoins from "thin air" without incurring overhead costs
Everyone who gets a machine would have thought about the overhead costs like electricity......... you would assume.
The value of bitcoins is relative to their availability and the strength of a basket of currencies. But from what I can tell, the liquidity of bitcoins is not thick enough to make this an efficient market for an exact science.
Can you tell me the exact specs of your machine? I was previously considering one. PM me if you must. What power supply and mobo are you using?
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Hello, how are the bitcoin exchange bid/ask spreads?
Are the spreads tight or broad?
I've looked at a few charts and it seems bitcoins are pretty liquid right now, but examples and experience is welcome.
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I want to post this thread about Article 1 of the United States constitution regarding section 8
"To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;
To provide for the punishment of counterfeiting the securities and current coin of the United States;"
This is a political topic unfit for the general newbie forum, please whitelist me.
I want to believe this newbie-forum only rule has been instated for good reason, I have my doubts, but perhaps I am a statistical outlier with my desire to post meaningful threads about the compliance of bitcoins in important jurisdictions
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computerparts, another thread shows that some clients use way too much CPU
where can I learn about difficulty?
1: that was guiminer and he fixed it with the next update so you should be fine now 2: Right HEREOh I see, so today it takes about 550Mhash/sec to generate a bitcoin, next week it could take 800Mhash/sec for one bitcoin hmm
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First always look at newegg first , best prices and normally better products. Second Ultra is a cheap Tiger Direct brand, may sound good but its not the deal you think it is if it blows your 3 shiny 6990's. I recommend Corsair, amazing company (tier one): THIS BABY1200W on load with 3xRadeons? you sure about that ? also can Core i7 1366's work in any mobo that accepts 1366? I know Xeons and Core i7's are the same silicon but there might be some other variable I didnt consider
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