841
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Economy / Trading Discussion / Re: Interesting conversation with a retailer who formerly accepted Bitcoin
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on: August 29, 2012, 01:22:56 AM
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Specifically for nmteaco - I'm in Australia, and I'm reluctant to order because It's not obvious how the tea is packaged and whether it would get through customs. (e.g are all ingredients labelled thoroughly so that customs doesn't classify some of it as unidentified seeds/plant material?)
We have never shipped to austraila before. But we do ship pretty regularly to New Zealand, the UK, and the ukraine (oddly enough). Anyway, if there was some problem, you would not be responsible. Its not good business to charge people money for things they don't get! Great! I'll try a small order and see if it gets through.
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845
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Bitcoin / Press / 2012-08-28 dailytech.com - "Pirateat40" Makes Off $5.6M USD in BitCoins From Pyr
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on: August 29, 2012, 12:44:59 AM
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"Pirateat40" Makes Off $5.6M USD in BitCoins From Pyramid Scheme Bitcoin investors fall for classic Ponzi ploy Jason Mick 2012-08-24 http://www.dailytech.com/Pirateat40+Makes+Off+56M+USD+in+BitCoins+From+Pyramid+Scheme/article25538.htmBitcoins, everyone's favorite quasi-legal internet currency, are still lingering around thanks to strong support from the hacker, future, and technopunk communities. ... And of course, the onus for these losses largely rests on those who sent someone named "pirateat40" actual money, and failing to recognize the classic signs of a Ponzi scheme -- inflated interest rates, shadowy management, and unrealistic promises.
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847
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Bitcoin / Press / 2012-08-28 theverge.com - Reddit, Bitcoin's woes, and more - 90 Seconds on The V
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on: August 29, 2012, 12:17:00 AM
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Video Just a roundup of recent verge top stories - referring to their recent article already reported here: https://bitcointalk.org/index.php?topic=103859.0Reddit, Bitcoin's woes, and more - 90 Seconds on The Verge
TheVerge 2012-08-28
... you might have read about one ecurrency banker we speculated might be the Bernie Madoff of Bitcoin. Well.. that story just took a much darker turn. User pirateat40 has shut down his virtual hedge fund called Bitcoin Savings and Trust along with its reported 5.6 Million dollars of virtual currency. The suspected pyramid scheme has stopped paying its clientelle and has essentially gone dark. This isn't the first time an elaborate scheme has cost Bitcoin users real money, but sadly the track record for justice so far is pretty poor.
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851
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Bitcoin / Press / 2012-08-27 micronationhistory.info - Plan announced for exchanging micronational
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on: August 28, 2012, 03:52:42 AM
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Well this is a little off the beaten track, but micronations are a fascinating idea, even if they do seem pie-in-the-sky. Perhaps the way I currently view micronations and their currencies is how the wider community sees Bitcoin though.. so I'll keep an open mind Plan announced for exchanging micronational currency for Bitcoins Liam Sinclair 2012-08-27 http://micronationhistory.info/?p=3273... BASTION UNION (CS) – For those micronationalists holding currency in the Standardized Currency and Unified Economy (SCUE) bank wanting to make their micronational currency go further, micronational company JeCom International is planning to offer Bitcoins in exchange. ... The initiative has been well received so far in the community, having been praised as innovative. Said Veen in response to the positive reception, “our virtual economy now has a link with the real world economy.” I could find very little information on "SCUE" but the following link gives the basic idea. http://apollopolis.proboards.com/index.cgi?board=market&action=display&thread=146. No currency can be created or destroyed by the signatory nations, except in the manner outlined here and in section 7. Each new signatory nation is entitled to create currency for an initial distribution among citizens of that country, under the following conditions: a. They shall count how many citizens they have who do not currently hold accounts via any existing signatory nation. b. They shall be entitled to 7,500 units of currency per citizen counted in this manner, to be distributed as they see fit. 7. In addition to section 6, the member nations may authorise a special, once-off creation or destruction of currency if 2/3 of all member nations agree. Read more: http://apollopolis.proboards.com/index.cgi?board=market&action=display&thread=14#ixzz24oFRpacvIt's just a federated Fiat system I guess.. hopefully they'll see the light and just come to bitcoin
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853
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Economy / Service Discussion / Re: centralized post of pirate payouts or other related news to the closing.
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on: August 28, 2012, 12:58:17 AM
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Finally, got my 2215 btc interest paid in full... about to sell now while it's still high in value.
tx id or it didn't happen. Yeah.. no personal insult intended Definit - but it's reasonable for people to want to see proof of this. The current situation is such that there is incentive for pirate-scheme participants to create a bit of false hope in order to quickly sell off pirate debt at not too heavy a discount. At least.. that's my perception. I don't really know how much pirate-debt is being traded, nor at what level of haircut. Frankly, it's surprising to me that anyone would buy pirate debts at even 1% face value - as presumably pirate himself could be creating fake accounts as we speak and releasing them quietly into the market.
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855
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Bitcoin / Press / 2012-08-27 paymentssource.com - Bitcoin Rushes In Where Card Companies Fear to
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on: August 27, 2012, 11:27:02 AM
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(site requires registration to view article - not sure it's a good idea for me to reproduce entire text here - but including some quotes) Bitcoin Rushes In Where Card Companies Fear to Tread Just as the plastic card liberated many consumers from a reliance on cash and coin, alternative payment sources are gaining enough adoption to steal transactions from plastic — with a little help from the very companies these digital currencies threaten. Bailey Reutzel 2012-08-27 http://www.paymentssource.com/news/bitcoin-rushes-in-where-card-companies-fear-to-tread-3011707-1.htmlBitcoin, the online crypto-currency that hit the market three years ago, is still portrayed by many in the media as if it were a tabloid starlet (criticized for both its famous-for-being-famous rise to prominence and a reputation that is sometimes linked to illegal drugs), but the currency is slowly making its way into mainstream use. ... "Unlike traditional bank currency that closes on the weekend, Bitcoin is a currency that never sleeps," Matonis said in an interview. ... Juha Nurmi, spokesperson for Ahmia, which works on Tor-related projects, says the company avoids accepting card payments. "Bitcoin is something we have been waiting for; unlike any national currency, Bitcoin is the real currency of the global world," says Nurmi, who plans to try to live using only bitcoins next year. ... Perhaps the line between Bitcoin and the card companies is blurring. A company called BitInstant plans to offer a stored-value card that can fund point of sale payments using bitcoins. Still, there is a place for a cash-like anonymity in digital payments. "Why lose [anonymity] because we've moved online?" Matonis says.
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859
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Bitcoin / Press / 2012-08-25 americanbanker.com - The Week In Banking (video)
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on: August 26, 2012, 08:35:33 AM
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The Week In Banking Marc Hochstein/Daniel Wolfe 2012-08-25 http://www.americanbanker.com/video/paypal-discover-dunkin-starbucks-bitcoin-mastercard1052104-1.htmlhttp://bcove.me/niuc65ib (video only) Bitcoin briefly discussed from 1:10 ... Another alternative payment system... *really* alternative payment system.. is ah.. going a little bit more mainstream.. is Bitcoin. I finally actually used Bitcoin this week.. it is very hard to get in and out of that system.. to acquire the currency.. but once you're in - it is butter smooth. I sent some money to a guy in London just to test it out... he had it within minutes.. and it cost me.. like, some fraction of a penny. ... There is a company called BitInstant here in New York - they are coming out with a way that is trying to ease the choke points to get in and out of that system so they're gonna have a prepaid mastercard in 8 weeks... where you can convert your Bitcoins that you're holding in your Bitcoin address to dollars that'll be held on this card. So.. you can send money using Bitcoin, but you can now spend it at the mall. ...
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