... I have bought BTC for CA$H at a Starbucks, I suggest same procedures as above. I contacted the guy via localbitcoins.com. |
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... I have not seen bitmixer.info before, so cannot comment. I have TWICE used similar-looking bitmixer.io with success. No scam as far as I can tell. I am sorry to hear of your loss in the scandal-plagued world of BTC. Thank you for letting us know of a bad apple.  |
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... It is not very clear to me what you want to do with one or more of those, but most seem like viable-sounding names if you choose to go into that business. This might be a good time to stake out some names, especially if BTC really takes off. *** (Possibly?) cheaper options might include .io names I note that cex.io, GHash.io and bitmixer.io are all names I see in my wanderings. *** How much does it cost for domain names nowadays? I can see it now...: au.ioorobtc.comoro.comrodajes.com . . . . |
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Thank you, RockHound for raising this interesting topic.
I see that Peru clocks in at No. 7 among developing countries. Many years ago, Peru was a terrible place to do business, now the government has backed off (except for aggressive tax collection, aggressive but not illegal), and the country is growing. The business environment is pretty free!
I would also concur with the list showing Chile at No. 4 (I have no experience there, but have read lots of good things about Chile) and Panama at No. 6 (we have done business with Panama, it's pretty well run as well, and there are lots of professionals there).
***
Peru does not have much of a BTC infrastructure at present. I will be going down again soon, and will look around some more.
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... I cannot find the original fellow who said this, but here's an article on capital going to where it is treated the best: http://seekingalpha.com/article/288345-capital-goes-where-its-treated-bestThat's ONE reason why some of my capital is in PERU rather then the USA, it's treated better there (albeit at perhaps higher risk). *** Piketty is just another Marxist, I believe he has admitted that himself. |
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OP asked:
"How much control does the President truly have over the economy?"
OROBTC responds:
It depends. .gov or the President can mess up the economy very quickly with bad decisions, but to build the economy back up takes time and determination. The populist (= pandering) solutions usually work out poorly...
Free enterprise / Liberty / Capitalism have a bad popular taint to them now as concepts, but that is how America became great. Now we have filthy banksters and corrupt politicians who have hijacked the USA.
"Our debts and our sins are greater than we think."
-- Wm Shakespeare
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keithers has a good point. Buying BTC now, some, you do not have to stay at the "All Inn" and holding on to them for the medium term or longer (and buying periodically is small increments) is a sound strategy.
I agree with comments above that mining is not worth it, unless you are very skilled and connected enough to get the fastest machines...
In any case, diversification (my middle name) would suggest that you not have too much of your net wealth in BTC. I have some, but it is well under 1% of what I own.
***
Even when I was young, I started buying small gold coins, think about that as well.
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I have enjoyed the discussions above, the back-and-forth.
Of course owning both is better, diversification is almost always better. And like one poster above remarked, you could choose gold, THEN sell half and buy BTC...
Speaking overly generally (as this is hypothetical and no one can predict the future) I would list the below as what each person might hold as %-age of net assets beyond real estate and stocks & bonds.
Gold% > BTC% > CA$H% (physical dollars in your hand/safe) > electrons at the bank%
Everyone should have cash at home for the unexpected...
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... First, there are some 175,000 tonnes of above-ground gold in stock. Almost NONE disappears. Estimated world production (not inc. recycling) is some 2500 - 3000 tonnes annually. Second, one of the world's largest recent gold mines is Yanacocha (Peru). This mine produces some (very roughly, production varies there, see link) 1.5 million ounces (that works out to some 47 tonnes). en.wikipedia.org/wiki/Yanacocha Even though Peru has a new discovery ("Conga", nearby to Yanacocha), there is tremendous resistance to putting it into production. Even Alaska's Pebble mine (huge gold reserves) is now on hold at best, environmental resistance. Bottom line here? No, there will not likely be ANY discoveries within and order of magnitude that would affect gold prices. Third, I believe (thanks to top gold analyst "FOFOA") that gold coming on-stream or off-stream will not much affect prices that much. What WILL affect prices will be if/when large gold owners decide not to sell any of it... fofoa.blogspot.com(very long reading) |
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"Bitco..., what's that?"
"Ma, it's the new digital currency that looks to be the next big thing."
"Oh, no thanks, dear..."
***
My Mom is 82 and just started learning to use Facebook, so, no, I will give BTC to someone else when the time comes.
Nice thought though, + 1 !!
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... I hope to buy some tomorrow!  |
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Excellent post, BittBurger.
An interesting prediction re destruction of SWIFT in 3 years. But, I would argue that many predictions of an "imminent this" or an "imminent that" usually are wrong, at least in the short-term. Exhibit A would be Bitcoin itself! While growing nicely, it has changed very little so far...
SWIFT is not going anywhere for a long time. Our business in Peru uses wire transfers to Asia to buy our products. 3 years? No way. 10 years? Well, maybe... "10 years is longer than it used to be."
Re other bad (or untimely let's say) predictions, America has not gone down the toilet (neither, for that matter has Greece) yet, despite ominous trends and indeed some suffering. But a SHTF has not hit Europe yet. Things could be much worse...
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@ J. J. Phillips
Nice contest and website you have there! Proving theorems almost always generates practical uses...
***
I found a couple neat tricks to prove the Riemann Hypothesis. If you raise the BTC prize adequately to, say, 100 BTC, I'll send it on (it's very long).
Hints, just to make this fair for others:
-- Schuler tensor analysis
-- Rybakov group theory
-- Nyaragaran zeta and theta functions
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... @ happygeorge, I just sent an email to bitcoinperu.com and will report back when I get a response. |
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... OK, it took a little longer than I wanted to explore this with two services. But, they both worked OK, in both cases it took some 30 - 45 minutes for "everything" (confirmations, etc.) to all come in. I will write more details later if you readers want. sharedcoin.combitmixer.ioRe the latter I did a "taint analysis", and the new BTC did show some taint, but not much. I am going to "guess" that if you set up (quietly) a new wallet, and run your BTC through BOTH services, well, then, I imagine your anonymity would be pretty good. Pretty Good Anonymity: "PGA", should I trademark that? ™ |
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... madmadmax, I do not think even at FOFOA's $55,000 / oz that it would be profitable to make gold out of other elements. Even if you take FOFOA's newer prediction of +/- $100,000 / oz, or "twoshortplanks" number of $133,000 would make it profitable. Read from the master himself: fofoa.blogspot.comLong & dense reading, tl;dr? But serious gold people need to check out his stuff. My suggestion?: start in October 2009. Here's something to get you interested:  Note that the peak probability is $55,000 in non-hyperinflated dollars. ... |
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... OK, my use of sharedcoin.com was a success. It took some 5 - 6 minutes to go through (gathering BTC from others to mix I would guess, and four iterations), and then maybe 45 minutes or so to confirm three times. So, a little bit slow, but I've got the time... I used my wallet there at blockchain.info as the sending wallet, and another (MultiBit) to receive. It was not (and still is not) clear to me if I can go the "other way" (sending from MultiBit to blockchain), NOR is it clear to me that I can create another blockchain wallet. Assuming I can figure out how to do one or both of those, then that would almost be enough for pretty good anonymity. "PGA" !!Perhaps tomorrow I will try out bitmixer.io. It looks like it may have a different way of mixing coins, if so, another safety layer!  |
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Very nice, BitcoinStuff.
I am currently negotiating with our town's newspaper to write their first Bitcoin article. Maybe I can use one of your images in the article. Thanks for sharing!
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... Gold cannot be made by bacteria. Sorry, bacteria do not add protons to a nucleus. I am almost surprised to see such notions even being mentioned here, these "scientists", whatever they are doing (I did see one comment above about gold chloride being the feedstock for the process, uh, gold chloride). Artificial diamonds will be a problem soon, though, for those looking to put money into diamonds. Gold has a long bright future ahead of it. Until they can extract gold from seawater (and there is not as much there as people think) and/or the energy requirements for changing some metals (lead? mercury?) into gold become lowered by orders of magnitude, gold owners will be just fine. EDIT: as "acoindr" just wrote! |
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