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1324
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Economy / Economics / Re: Who is buying above $13? Manipulation or Market?
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on: July 07, 2011, 05:23:46 PM
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GLBSE is not a real exchange. There is no volume. It is not regulated by any government organization. My expectation of receiving payout should my contract become profitable is pretty damn low. The site owner has a link where you can donate to him lol. That is not a professional exchange. What are the qualifications of the person running it? Who is running it? Where is it based? On the about me page it says the following:
"We Are The Market
Buy, sell, raise, lend, borrow, invest, the single market that does it all. Keep your bitcoin in one market, and instantly switch between different assets, currencies, shares, and bonds to take advantage of the largest bitcoin market.
* Issue shares to raise capital
* Pay dividends to shareholders
* Put resolutions to shareholders and get their vote
* Issue and sell bonds
* Borrow and lend to the market
* Make and recieve loan repayments
* Issue futures contracts
* Meta-trade on non listed companies (on other exchanges)
* And trade all of the above with other traders on the market
Start Trading Now!
The exchange is currently under testing, but is being used, you may use at your own risk but be warned,you could lose your shirt ;-)"
That says nothing, except that the person running it is building this as they go and have no idea what they are doing.
You have not been around for very long, right? Everybody know that the GLBSE exchange is based only on 100% trust, and defer to no authorities. It's not a MtGox and TradeHill that operates under the laws of its perspective nation state. It's more like silk road than your mom and pop convenience store. |
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1325
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Economy / Economics / Re: Cryptocurrency & sustainable taxation
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on: July 07, 2011, 12:24:55 PM
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Want tax money? Sell your security/health/retirement fund management/water service or whatever the government have a monopoly on.
But I guess nobody wants to do that because it will mean listening to demanding customers.
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1326
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Bitcoin / Bitcoin Discussion / Re: [ATTN!!] Bitcoin Security nearly Breached
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on: July 06, 2011, 11:31:54 PM
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It's not about the probability of it happening, It's about the possibility.
As it wasn't possible before, but now it is(almost).
You're right the pool owner probably won't try to sabotage it, but it's now possible for him to do it.(almost)
There is a possibility of terrorists assaulting airports checkpoint and causing a big fricking huge massacre of civilians because the TSA doesn't give the fuck about REAL security. True, but it doesn't mean it's going to happen. |
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1327
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Other / Meta / Re: Advertisements on Bitcoin Forum
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on: July 06, 2011, 01:28:22 PM
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I feel ads with this community would really really be abused. I almost guarantee someone would be the space for a long period of time just to have a specific message to mess with others. And if they don't do that, I am doing that, sounds like fun.
Advertising fee for this site would be high so that would deter griefers unless they are willing to spend a lot of bitcoin to have their entertainment. |
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1330
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Bitcoin / Bitcoin Discussion / Re: bitcoin economy on fire
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on: July 06, 2011, 02:14:44 AM
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I have sold over $25,000 worth on my site in the last week, all in bitcoins. No discount, just the 24 hour average exchange rate applied to the purchase.
Take it from someone who makes a living from selling goods and services for BTC, there IS a bitcoin economy.
You're serious? |
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1336
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Bitcoin / Press / Re: Bitcoin press hits, notable sources
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on: July 05, 2011, 12:20:01 PM
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https://www.nytimes.com/2011/07/04/business/media/04link.html?pagewanted=2&_r=1It seemed like an ok article but at the end they just give the finger to bitcoin: Mr. Brito was optimistic about Bitcoins finding consistent users. But as with many online innovations, the early adopters tend to occupy a different, if marginal, niche.
“This is a censorship-proof currency that allows transactions to happen,” he said. “Right now what are those sort of transactions? Gambling, buying drugs — that is what is going to jumpstart it.”  Mr. Britto is simply stating what he felt will help bitcoin takes off. |
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1338
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Bitcoin / Bitcoin Discussion / Re: What will make BitCoin rise in value?
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on: July 04, 2011, 07:45:31 PM
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When the loop is closed .
Meaning you pay the baker in bitcoins
then he can go buy supplies in bitcoins
then the supplier can pay overhead in bitcoins
then his employees can buy from the baker.
Rinse/Repeat
My loop: 1. People pay me ransom money for articles/comics. 2. I pay my writers and cartoonists. 3. No idea what my employees do with their money. Presumably hording it and spending some. I have three employees. 4. I pay the hosting and domain name bill. 5. In turn, my money is used to pay for mtgox exchange operation.(The company that runs mtgox also host my site) 6. As my business expand, I may take on more employees. Also, I may build different websites that require an employees. In any case, I lost more money than I gained. However, I cut cost down to where the profit margin is 10%. Last month was good in term of traffic and I hope to grow again and build a healthy war chest. I am probably one of the longest employer in the bitcoin economy as my economic relationships already stretch a few months. |
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1339
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Bitcoin / Bitcoin Discussion / Re: What will make BitCoin rise in value?
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on: July 04, 2011, 07:28:52 PM
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The adoption of Bitcoins as a defacto online currency by giant online players ... Google, Facebook, etc. Facebook already has a currency - "Facebook Credits". Facebook takes a 30% cut, and insists that Facebook apps use their money. Crappy money. |
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