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4121  Bitcoin / Project Development / Re: Bitcoin Checkers on: June 05, 2011, 09:59:40 PM
No one is going to pay that much. Checkers is not good to play for money either, it's pretty much solved and common programs can play very well.
4122  Bitcoin / Development & Technical Discussion / Re: Well, here's one instance where BTC is *not* better then USD in e-commerce on: June 05, 2011, 09:41:59 PM
Okay, hang on a sec we'll change it.
4123  Bitcoin / Project Development / Re: Coming Soon: BitCoin Options Trading on: June 05, 2011, 09:22:25 PM
Binary options are functionally the same as European options.  Options exchanges in the US are dominated by American style not European style options. 

Wow, I'm confused then. I thought American was exercised anytime, European exercised near expiry, binary only triggered if price is above/below strike at expiry and worth a fixed amount. Correct me please.

My understanding is European and binary act the same in that either there is a payoff or there is not.  With both there is no exercise prior to expiration.  At expiration they are either worth something or nothing.
The difference being with binary the payoff is fixed, with European the payoff is variable.

Right, but Euro and American are smooth and binary is all or nothing. The all or nothing gives major incentive to shove the market if it is close. This makes them undesirable to me, but I guess some might want them.
4124  Economy / Economics / Re: Bitcoin Care Foundation on: June 05, 2011, 09:18:37 PM
It's rude to spam your ideas in multiple forums. Delete all but one if you care.
4125  Other / Politics & Society / Re: I will admit something... on: June 05, 2011, 09:15:59 PM

Now this just makes me sad. I've always considered you a level headed and rational person.
And what you consider theft is what I see as payment for services rendered. Agree about the rape part though.

Are there other areas of life where someone can provide services without permission and then demand payment without agreement? Is this behavior generally okay with you?
4126  Bitcoin / Bitcoin Discussion / Re: A small weakness of bitcoins? on: June 05, 2011, 09:06:15 PM
Lets say I backup my bitcoins in a safe place.

However if someone restores a deleted copy of an unprotected wallet file and starts spending with that file.
It wont matter if I backed up my wallet.

So you not just only need to store the file, but also make sure its very wiped out from the harddrive.

Meaning that its very cumbersome to be very safe.

(Ofcourse this also applies to everything else)

But still, people have their money in banks which do have lots of protection.



If you trust banks you can hire them to keep your coins safe. The benefit of Bitcoin is that you don't have to, not that you cannot.
4127  Bitcoin / Bitcoin Discussion / Re: I am pretty confident we are the new wealthy elite, gentlemen. on: June 05, 2011, 08:57:22 PM
I'm fairly on the fence of this, but I have to ask: What standard are we using for BTC's enormous momentum? Its market price? The size of its goods and services economy? The amount of processing power committed?
I'm optimistic about bitcoin because of two metrics:

1. Lots of people are interested in it, all over the world.

2. There are lots of interesting, innovative projects being built around bitcoin.

It is still VERY early days, and I'll say it again:  expect growing pains.


No way, Gavin!  It's gone up, so it will continue to go up.  Everyone's gonna be trillionaires!

I have some other interesting predictions:

This morning it was 72 degrees.  It's 100 degrees only 8 hours later!  In 10 days, we can expect temperatures of 840 degrees!  Invest in snow cones!

It's been like 4 minutes, some might get burned, but not for another few hours (and probably not by trading paper for snow cones at any price)
4128  Economy / Economics / Re: Bitcoin and the Efficient Market Hypothesis on: June 05, 2011, 08:15:24 PM
Are you saying you don't understand why time is required for information to get into the market price  Huh
4129  Bitcoin / Bitcoin Discussion / Re: ATTENTION The market collapses! Sell as quickly as you can!! on: June 05, 2011, 08:13:11 PM
So, just out of curiosity, why does the value of Bitcoin drop over weekends?

Because the cash flow MtGox<->USD slows (apparently some banks don't send money over weekends).

Wth? Everywhere I look today people saying this. On what other planet is a >20% increase a drop? Close of bizness Friday price was under $14.

Please go all out arbing this trend smarties.
4130  Bitcoin / Bitcoin Discussion / Re: Ron Paul Money Bomb - Bitcoin donations? on: June 05, 2011, 08:00:48 PM
And lol@ giving my coins to someone to convert to dollars to give to someone who won't sully their hands with actual bitcoins.
4131  Bitcoin / Bitcoin Discussion / Re: Ron Paul Money Bomb - Bitcoin donations? on: June 05, 2011, 07:59:46 PM
Isn't he a politician?
4132  Economy / Marketplace / Re: Want to trade Full Tilt poker money to BTC on: June 05, 2011, 07:58:42 PM
ah, thought you wanted to go the other way. I have FT / need BTC.

Tom: Save it for 2+2.

It is relevant info. I don't know if FTP seller has an obligation to mention FTP's problems, but there is nothing wrong with someone pointing it out here.
4133  Economy / Economics / Re: The 2040 problem on: June 05, 2011, 09:23:37 AM
Where do these lunatics come from?

I don't know about these ones, but real lunatics come from the moon.
4134  Economy / Marketplace / Re: Bet on bitcoin future price here (July 1st, 2011) on: June 05, 2011, 09:19:37 AM
I just sent in my guess. It will make some of you choke on your drink.

Why? Because it is so low? Tongue
4135  Economy / Trading Discussion / Re: Dealing with scammers on BitcoinMarket on: June 05, 2011, 09:09:15 AM
That's exactly what I'm afraid of, scammers! I'm new and I'd like to buy some BTC but I don't know who to trust to Sad That's why I thought maybe I should ask for local BTC sellers and do the transactions face to face. What do you think of this method?? Of course it's more convenient to buy/sell online, but let's say I want to buy about 100 BTC and have a Dwolla account, where am I gonna find trustworthy sellers? Should I just go by hero members in this forum?? Do you guys care for selling some BTC to me?

The problem that the OP describes cannot happen on MtGox. With bitcoinmarket PP you are receiving funds from another trader's PP account, with MtGox you receive funds from MtGox directly (you trade with others, but MtGox holds the funds and pays you with cleared money).

Bank->Dwolla->MtGox->Good to go
4136  Economy / Trading Discussion / Re: want to sell 6pack.com domain for 20k bitcoins on: June 05, 2011, 09:02:07 AM
i'm also open to offers Smiley

I'll give you a 6 pack (of beers, not 6BTC)
4137  Bitcoin / Bitcoin Discussion / Re: Are we getting a lot of "eastern world" coverage? on: June 05, 2011, 08:42:00 AM
How that chart looks, it's hard not to believe that's one buyer given that the movement seems to happen at a very similar time each night. I seem to recall the same thing going on last month during the initial rally to about ~10. If it is one person, it seems to me that they're intentionally moving the market - someone who just wanted to accumulate would likely spread it out more so as to avoid paying such a premium over current ask. It's possible they analyzed things and chose that time to buy because they expect the market to be at its thinnest at that time of the night, so their money would have the most power to move the market. Given that it's impossible to to determine a price target on bitcoins based on fundamentals, it's very possible that a strategy of pushing the market up with a sharp buy and then selling throughout the day as it plateaus at a nice price could be a successful strategy.

Could be, but that is exactly equivalent to saying that they wait until their money will get them the least.
4138  Bitcoin / Project Development / Re: Shortco.in - Stop trying to remember your addresses on: June 05, 2011, 08:05:23 AM
It's funny your thread title though... I don't know anyone who is currently trying or has ever tried to remember a bitcoin address.

17uHjdDpl33hT-damnit is that enough?
4139  Economy / Economics / Re: Bitcoin Care Foundation on: June 05, 2011, 08:03:40 AM
Quote
You can select where you want your bitcoins to be used for.

I already select what my money is used for.

I think your goal is too broad to achieve. Can you give an example of how you can better deliver donors value to people who want to consume it than the donors themselves? Maybe you could find the people who can't manage on their own and let potential donors know about them.

Generally I see A--->ORGANIZATION--->B with ORGANIZATION not providing anything but a guess at what B wants (which B necessarily disagrees with or they would give money straight to B) and a bunch of heartwrenching commercials directed toward A. I bet if you find some kind of P2P solution a lot of people here would be interested, but I doubt another ORGANIZATION will get much traction.

Hope that's helpful.
4140  Bitcoin / Bitcoin Discussion / Re: I am pretty confident we are the new wealthy elite, gentlemen. on: June 05, 2011, 06:35:43 AM
Seriously 1 in 100 million chance of what? We've already got a 1 in 1 chance at 100000% increase in value.
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