Oh, I think I see what you are saying. I have a better explanation, Erik probably is in the bitcoin mindset so deeply that everyone who adopts early should be rewarded for doing so. He is rewarding the first 2 million shareholders for being the first. Just like Satoshi did with Bitcoin.
What is going to happen almost certainly is that the price will rise immediately after the IPO once a few months profits start showing. There won't be a better time to get into this than now, and he knows it. He's doing this entire thing as a way to enrich holders of bitcoin and create a massively powerful economy. The more investing with bitcoin, the more value bitcoin has, he knows it but he can't say that. He can only be 100% transparent in his dealings and let the rest of us figure it out.
Disclaimer: These are only my own personal feelings as I saw the news of this IPO while considering Erik's past achievements. We will see in time if the value is actually there so make up your own mind.
SatoshiDice itself is low-risk, but MPEX is high-risk. Compounded, the risk is likely too high for the price to rise above the IPO. I think that the third tier IPO is priced way too high. These are my personal feelings, and the reason why I am currently sold out in GSDPT. |
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I have added in Hebrew into the list of target languages on http://translate.multibit.org. It will appear as an option in the list of languages in the next release. MultiBit does do RTL, though the layout needs a bit of tidying up. Here is "Hebrew in English" i.e. the GUI is set to Hebrew but all the text is still in English:  (You can see the list of wallets should be on the right and some of the spacing is wrong. Also I am not sure about things like whether BTC should prefix the amount or be postfix. Any "RTLisms" like that you spot just let me know and I will work my way through them). p.s. that's the test version (with encrypted wallets) not the live version that is on the website. Punctuation doesn't seem to be handled right. Synchronized with network.
should be: Synchronized with network.
This should be fixed, or translators will encounter nasty surprises. |
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Keep everything in sync. I will post 2530 and 2531 in this post. The next post is 2532.   |
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For the record, this is the best way of closing threads. |
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62,489 members, I'd guess < 2% take you up on the offer. There's just tons of free magazine offers out there, lots of dead accounts, lots of users that won't see the offer, lots of users that don't want to give their address, etc.
So a 50k run of one issue for distribution to bitcointalk.com members seems like a bad idea.
If you look at the user list you'll see 98% of these 60000 members are spambot accounts that just can't do their job correctly due to the newbie restrictions. There's maybe 1000 real accounts here if even that. False. Administrator: 2 Brand new (SPAM): 41547 Donator: 76 Founder: 1 Full Member: 996 Global Moderator: 5 Hero Member: 363 Jr. Member: 7612 Newbie (SPAM?): 11220 SCAMMER: 101 Sr. Member: 447 Staff: 18 VIP: 28 Whitelisted: 1 If Newbies and Brand new are considered all spammers, then there are still almost 10000 "real members" on the forums. Interesting fact: Even if founders were also considered spammers, the number of real members does not decrease by a lot. |
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I have added nyconvergence to my hksts filealong with thead websites  @Topic:  |
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After giving it some thought, I realized that lending BTC is quite risky. It is risky because even under the assumption that a borrow is honest and would repay their debt if they could, a sudden rise in the price of BTC would make it difficult or impossible for borrowers to repay their debt. If you lend to an individual, they will simply default. If you invest in a pass through lending operation, what will happen is a number of investors will try to pull their BTC out. They will do this either because they want to take profits on the BTC itself, or they believe the borrowers will not be able to pay back their loans due to the rise in the price of BTC. The operator of the lending pass through will not be able to accommodate all of the payouts and may only recover some of the BTC from the borrowers.
Interestingly, however, lending BTC can sort of act as a hedge against a sudden BTC price drop. If the price of BTC drops, your borrowers will be able to more easily pay back the BTC plus the interest. So, while the value of your BTC holdings will go down, you will suffer fewer defaults in your lending operation.
Thoughts? Any flaws in my reasoning? Discuss.
The debtor can repay in part, which will still be at a profit for the creditor. |
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etotheipi, I think you're trying to put the cart before the horse. Yes, there are plenty potential use-cases for it, but very few of those use-cases are wanted/needed/used by anyone right now. I don't hear any merchants clamoring to have customers sign their physical address information with their payment address - for the merchants, it is plenty good enough to just have the user fill out their address information into a normal HTML form at the time of purchase (and really, why wouldn't that be good enough?).
I disagree with this... It is a chicken and egg problem. If it were there then people would use it, organically. You can see much the same problem with the iPad: there were no crys of "GIVE US TABLETS" but Apple came along and sparked a whole ecosystem. Try to take away someones tablet now (even if it is an android) and chances are they will raise a huge storm. +1. I support both first-class by default (this is less confusing to the average user than the arcane "Receive coins" screen), and the inclusion of Armory-style signature blocks. |
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Crossposted from newbie section: They have no other method of contacting them.
I wanted to point out that they do have a contact page with addresses, and their whois information seems legit. Pehaps a good old fashioned phone call is in order. Registrant: Kenseycol PTY LTD PO BOX 8370 Orange, New South Wales 2800 Australia Registered through: GoDaddy.com, LLC ( http://www.godaddy.com) Domain Name: CRYPTOXCHANGE.COM Created on: 03-Jun-11 Expires on: 03-Jun-17 Last Updated on: 24-Jan-12 Administrative Contact: Armitt, C kenseycolptyltd@live.com.au Kenseycol PTY LTD PO BOX 8370 Orange, New South Wales 2800 Australia +61.0280050602 Fax -- +1.6466664365 Technical Contact: Armitt, C kenseycolptyltd@live.com.au Kenseycol PTY LTD PO BOX 8370 Orange, New South Wales 2800 Australia +61.0280050602 Fax -- +1.6466664365 |
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Use normal capitalization, not "newspaper capitalization". "Thread title style guide" instead of "Thread Title Style Guide". Capitalize the first letter of the title unless it a trademark like "eMachines".
Someone hasn't read a newspaper recently  . "Newspaper capitalization":  I think you mean "use newspaper capitalization". |
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Missing Pirate? Need more "investment" material? Well, you're in luck! I am now offering guaranteed and insured −7%/week interest on deposits ( Fees apply. See below.). So, how does it work? Simply send money to 1P5Wyd1dXcDoWvLoWAstwdfGbqVph6DWtN, and you will get 93% of it back in a week. Guaranteed!But how? Well, the trading strategy I employ is top secret, but I can assure you, it is not a Ponzi scheme. Nor does it have anything to do with money laundering. Given this amazing never-before-tried strategy, better than even Pirate himself did, what are you waiting for? Deposit now! Did I mention that this is fully insured? If for some reason I don't pay up, I will pay the debt for myself! No risk, negative reward, what are you waiting for? Fees: An initial fee of 100 BTC is deducted to pay for management of this service.Edit: Due to high demand, We now allow specialized Anti-Pirate accounts! Screwed by Pirate? Don't think you're getting your money back? Wish you could rewind time? Well now you can!Instead of Pirate's 7% per week interest, we offered −7% per week interest. But keen mathematical minds here will realize this doesn't exactly rollback Pirate's endeavor! So now we offer alternate accounts with −6.5420561% per week interest. This is set up so that one week of Pirate plus one week of antipirate is exactly 0 weeks of pirate! In other words, reverse Pirate with Anti-pirate! Don't miss your chance! Invest now! |
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Patrick,
I believe it would be beneficial to order the lists in alphabetical order. When many will have used Starfish Personal Credit Ratings, it will be hard to find a user.
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At this point, the market capitalization and liquidity of Bitcoin is insufficient for selling of any real estate of sufficient value. To buy a house that costs 400000 US$ (which is lower-class to middle-class) would not only require 0.4% of all BTC in circulation, but would also spike the price to 11.15 $ before subsequently dropping to 9.50 $ (causing a huge loss for both parties). Bitcoin price should appreciate by 300% (to ~40 $/BTC) before such transactions are feasible.
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Those funds aren't his to begin with. The bondholders should decide if they want to sell at a discount and take the lesser amount of bitcoins. If not they can wait and see if the full amount will be paid out. This is their decision not his. Just like they are not his coins.
Your bank does this all the time with funds that are not theirs. There is no reason Goat should not be allowed to do so also. |
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....
I'll end by saying that just because I'm not investing, that doesn't mean the deal isn't a good opportunity for some people. You'll have to assess the risks and opportunity cost for yourself. There are definitely worse guys you could give your money to than Erik--he's trustworthy and he'll probably use it to continue doing great things for Bitcoin. Good luck all around.
btcx- your comments, once again, are much appreciated and very well thought out. Thank you for posting. Erik, if I may make a suggestion, please don't start IPOs of further endeavors on MPEX. The PR has no manners and the entire site is shady and unlikely to last. |
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Goat, I really hope this is not the bondholders account... If pirate pays back and you don't stand to your word of buying back, you won't get away with just a scammer tag  Why do you assume how won't repay? He is the operating of the fund. He could sell the debt for say 10K BTC. If Pirate repays he owes 40K and takes a 30K loss. If Pirates doesn't repay then he profits 10K. As long as he intends to repay the bond holders there is no fraud. Companies sell DEFAULTED debt all the time. Default doesn't mean 0 bitcents on the coin. It simply means the debtor has not met their obligations. You are wrong here. If he sells the account for 10k BTC, then those funds belong to the bondholders. He can't just pocket 10K BTC. The debt it owed to the bondholders not GOAT. No, those funds do not belong to the bondholders. Goat is taking upon a risk here: if Pirate pays back, Goat will be 30000 BTC in the hole. If Pirate defaults, Goat should be eligible to pocket the 10000 BTC. Effectively, Goat is betting against Pirate here. |
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