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901  Economy / Trading Discussion / Re: Desperately need 'PROPER' way to buy BTC on: August 05, 2014, 05:15:05 PM

Have you tried any of the locals?

http://bahtcoin.com/

https://bitcoin.co.th/en/

Thanks for that - bahtcoin look reasonable, I'll have to try for a small amount first and see how it goes  Smiley

In addition to the above, several people above have mentioned localbitcoins. They seem to be active in Thailand, though it looks like you'd need to do a bank transfer (unless you met the seller face-to-face). I've had good results (in the UK) with localbitcoins and bank transfers, but obviously my experience in the UK may differ from yours in Thailand!

One issue people tend to have with localbitcoins (apart from the assumption that you can only trade face-to-face) is the wide price variation - right now I'm seeing anything from 18900 to 26800 THB per BTC. My advice here is to be patient and consider buying several small amounts instead of one large amount - which is probably good advice in general, since it spreads any counterparty risk. It might not suit your needs, though.

Edit: and, of course, Newar said exactly the same far more succintly and earlier Shocked Ignore me, I'm a slow reader!
902  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 03, 2014, 07:24:10 AM
little dumping going on

I will repeat that I have a sneaking suspicion that there is going to be an attempt to close the Weekly MACD in the red.... which is going below the $570-ish level by Sunday night (is that when it closes?)
No one does that. Also I think it closes on Wednesday.

Why do you think it closes on Wednesday? That's at least the second time someone's said that recently...

I'm sceptical. Go to Bitcoinwisdom's weekly chart and hover over this week's bar - the date (the start date) is shown, and for the current week it's shown as 2014-07-28 - last Sunday.
The bitcoinwisdom's week used to start on Thirsdays, until recently. Now it starts Mondays. https://bitcointalk.org/index.php?topic=190722.msg7896274#msg7896274

Wow - thanks! That's a really recent change at well. Well, glad it makes sense now. Wednesday close is just bizarre.
903  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 03, 2014, 07:08:50 AM
Do Bitcoincharts, Wisdom and Tradingview all use the same time zone? UTC or something? Something seems a bit off.

Bitcoinwisdom offers local time as an option so it's possible you might see someone posting an image that hasn't used UTC - but UTC is the default. Bitcoincharts is just UTC. No idea about Tradingview, sorry!

What is it that seems off? I really just use Bitcoinwisdom, with an occasional foray into Bitcoincharts when I want to see really historic (i.e. MtGox, "back in the day") data...
904  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 03, 2014, 06:45:12 AM
little dumping going on

I will repeat that I have a sneaking suspicion that there is going to be an attempt to close the Weekly MACD in the red.... which is going below the $570-ish level by Sunday night (is that when it closes?)
No one does that. Also I think it closes on Wednesday.

Why do you think it closes on Wednesday? That's at least the second time someone's said that recently...

I'm sceptical. Go to Bitcoinwisdom's weekly chart and hover over this week's bar - the date (the start date) is shown, and for the current week it's shown as 2014-07-28 - last Sunday.
905  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 31, 2014, 07:49:44 AM
1W MACD is red. Everyone here should know what happens next.

BUY BUY BUY!!!

For some reason, I thought that it closed on Wednesdays; however, it did NOT close, yet.  Maybe it closes on Thursdays?

Sunday night I think. On bitcoinwisdom the previous week's red candle shows a start date of 21st July (and the current one is 28th July). Midnight (UTC) on Sunday makes sense, anyway.
906  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 25, 2014, 04:54:04 PM
ok i see now, i'd be more into second option but it's not that obvoius to say that 234 days is a rule, but maybe it will be. it happend like 2 or 3 times so far, so that can't be a rule i guess. Can somebody provide some more info about that 234 days or maybe a graph or something?

http://bitcoincharts.com/charts/mtgoxUSD#tgSzm1g10zm2g25zl - this is "all data" for MtGox (so ignore everything after the last peak - MtGox is no more. It has ceased to be...)

There are peaks (not necessarily All Time Highs) roughly every 6-9 months (November 2010, June 2011, January 2012, August 2012, April 2013, December 2013), which I guess someone felt was justification for the 234 days theory.
907  Economy / Economics / Re: [CHART] Bitcoin Inflation vs. Time on: July 22, 2014, 04:53:16 PM
What good are these charts without rationale, data, sources?

Why do I care about these charts?

That's a fair point - I guess most of us take it for granted that people will know this stuff and that a visual representation will be obviously helpful. Anyway, from the top...

The rationale is that BTC are generated at a fairly constant rate (every time a block is found by a miner, roughly every 10 minutes), but that the number of BTC generated is reduced periodically - every 210,000 blocks, or roughly every four years. When Bitcoin was first released miners were rewarded 50 BTC with every block they found. That changed towards the end of 2012, with a reduction down to 25 BTC. Right now I'd expect the next change - to 12.5 BTC - to occur in late 2016, but since we can follow the block count, we'll know as time goes on whether that's a bad guess or not. (Rather than worry about dates, simply check the block count as it approaches 420,000).

Whether that's useful or not is up for debate! Instinctively I think it is, because I think that the rate of increase of supply of BTC will affect the price. But that's just my opinion. If nothing else, these charts show visually what several dense and text-heavy wiki pages say - and pictures are worth a thousand words Smiley



908  Economy / Economics / Re: How and why Bitcoin will plummet in price on: July 11, 2014, 05:10:35 PM
Probably - Scottish (and Northern Irish) notes seem to me to be, in effect, IOUs for Bank of England notes. My understanding was that "legal tender" applied to debts, so if I have a meal in a restaurant and settle up afterwards - the restaurant can't refuse my payment if I offer legal tender (obviously restaurants in Scotland are more concerned with receiving payment in any form than with the legal niceties Smiley ). I don't know at what point my Council Tax obligations become a "debt" - when I've paid in cash I've been paying in advance - but it's certainly a duty or obligation (or, at least, regarded as such by our city fathers...)

But what if it is made known to you before you take a meal that the restaurant won't accept what is "legal tender" there, will you be able to insist on paying the "debt" with it alluding to its being a legal tender?
I honestly don't know - it's never happened to me! I think businesses tend to be pragmatic - money's money, so as long as they can check it's not counterfeit then they're usually willing to accept it. The problem tends to be the other way round, using Scottish notes in England - though even that I've not found to be much of a problem recently.
909  Economy / Economics / Re: How and why Bitcoin will plummet in price on: July 11, 2014, 08:15:22 AM

...and, there are even countries where legal tender doesn't really exist. In Scotland, for example, coins are legal tender (limited amounts in most cases, but £1 and £2 coins are valid for any amount), but no bank notes have been legal tender since 1946 (Scottish bank notes, and Bank of England 10 shilling and £1 notes). There are current Scottish bank notes (issues by three commercial banks), and Bank of England notes are widely used - but none are legal tender.

Does Scotland collect their own taxes, and if it does, what money is accepted as payment for them?

Local authorities ("councils") collect "Council Tax" to pay for local services; they accept Scottish notes (and, presumably, though I've never tested it, Bank of England notes).

The Scottish Government has (limited - a few percentage points above the UK-wide tax rate) tax-raising powers, though to date hasn't exercised that power.

Thanx for the info. Could we then consider Scottish and Bank of England notes as legal tender (even if the notion is not formally defined)? To me, legal tender in the first place is what government accepts as payment for the taxes and duties it imposes on their citizens.
Probably - Scottish (and Northern Irish) notes seem to me to be, in effect, IOUs for Bank of England notes. My understanding was that "legal tender" applied to debts, so if I have a meal in a restaurant and settle up afterwards - the restaurant can't refuse my payment if I offer legal tender (obviously restaurants in Scotland are more concerned with receiving payment in any form than with the legal niceties Smiley ). I don't know at what point my Council Tax obligations become a "debt" - when I've paid in cash I've been paying in advance - but it's certainly a duty or obligation (or, at least, regarded as such by our city fathers...)

910  Economy / Economics / Re: How and why Bitcoin will plummet in price on: July 11, 2014, 07:58:14 AM

...and, there are even countries where legal tender doesn't really exist. In Scotland, for example, coins are legal tender (limited amounts in most cases, but £1 and £2 coins are valid for any amount), but no bank notes have been legal tender since 1946 (Scottish bank notes, and Bank of England 10 shilling and £1 notes). There are current Scottish bank notes (issues by three commercial banks), and Bank of England notes are widely used - but none are legal tender.

Does Scotland collect their own taxes, and if it does, what money is accepted as payment for them?

Local authorities ("councils") collect "Council Tax" to pay for local services; they accept Scottish notes (and, presumably, though I've never tested it, Bank of England notes).

The Scottish Government has (limited - a few percentage points above the UK-wide tax rate) tax-raising powers, though to date hasn't exercised that power.
911  Economy / Economics / Re: How and why Bitcoin will plummet in price on: July 11, 2014, 07:03:37 AM
Now that Califorina has legalized Bitcoin, it will not plummet in price.

It is still not a legal tender though.


Federal government can no longer stop companies from accepting bitcoin in California.

This doesn't make bitcoin into a legal tender yet. You won't be able to pay, for example, taxes or public charges and duties with it. Don't let yourself get fooled about it.
In order for something to be legal tender, any company must be forced to accept it for payment. In the US this is only true for the Dollar as it is "Legal tender for all debts, public and private"

Everyone seems to forget that all currencies fail to be legal tender outside its borders.

So if all currencies are foreign currencies in most of the places on the planet what makes them so different than Bitcoin?

...and, there are even countries where legal tender doesn't really exist. In Scotland, for example, coins are legal tender (limited amounts in most cases, but £1 and £2 coins are valid for any amount), but no bank notes have been legal tender since 1946 (Scottish bank notes, and Bank of England 10 shilling and £1 notes). There are current Scottish bank notes (issues by three commercial banks), and Bank of England notes are widely used - but none are legal tender.

I'm not sure what the situation is in Northern Ireland, but I gather it's similar - Northern Irish banks also issue their own notes, though I don't know if they're legal tender there or not.

(For the sake of completeness I should add that Bank of England notes are legal tender in England and Wales, and accepted in Scotland without question - since they enjoy the same non-legal tender status as their Scottish equivalents).
912  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 08, 2014, 06:04:38 PM
Has anarchism ever degenerated into totalitarian rule? The two examples of anarchist societies I can think of were toppled by external forces - by the Red Army in the Ukraine, and by the Spanish Communist Party and it's allies in Spain. Apologies if that was your point, it just seemed you were suggesting degeneration was a result of anarchism itself, rather than its opponents.
i don't know the examples you mention. I know of a few conscious attempts at anarchic communes going back to the middle ages, but all of them small and toppled by external forces.  Anarchy on a larger scale often arises involuntarily after the collapse of a centralized government with a complex administrative infrastructure; and in that case it is often succeeded by a domestic tyranny. The French and Russian revolutions may be examples of the latter.

I don't know of any example, anytime or anywhere, of an urbanized society that survived without government for more than a few months. (Although I gather that achaeologists have yet to find signs of a government at Çatal Höyök, "the very first city").

Ah, interesting (makes mental note to google Çatal Höyök). You could well be right about Russia; I don't know how strong the anarchists were before the October Revolution, but they were certainly present afterwards - "Nabat" (Russian anarchists) supported the Ukrainian anarchists against the Axis powers, the local aristocracy, and against their "own" Red Army.

Ukraine's experiment with anarchism was largely rural (and has been cited by Marxists ever since to downplay the idea that anarchism can thrive in an urban setting), but Spain - Catalonia in particular, where anarchists and syndicalists ran the region - runs counter to Marxist histories. Barcelona (Spain's second city, I think?) was controlled by anarchists from the outbreak of the Civil War until the Spanish Communists turned on their onetime allies, forcing them into exile and underground.

Thinking about it, I seem to recall something about anarchism in South America being far bigger than European/North American history gives it credit for, and that it was (is?) largely urban. Another task for google...

(Geez - the stuff I think about while watching a line wiggle up and down by a tiny fraction...)
913  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 08, 2014, 05:17:14 PM
Just as anarchism quickly degenerates into totalitarian rule, under laissez faire capitalism every market quickly becomes a monopoly or oligopoly; and then the companies can demand special laws and bailouts with the excuse that they are too big to be allowed to fail. ...

Has anarchism ever degenerated into totalitarian rule? The two examples of anarchist societies I can think of were toppled by external forces - by the Red Army in the Ukraine, and by the Spanish Communist Party and it's allies in Spain. Apologies if that was your point, it just seemed you were suggesting degeneration was a result of anarchism itself, rather than its opponents.
914  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 06, 2014, 08:52:50 PM
I'm still wondering how on earth Chinese exchanges get their yuans now.
Supposedly all routes are closed, so either that isn't the case or they are playing a shell game ala willy bot.... which would be awesome just think of the panic that would cause once they blow up. And the best part is: Free pumping until that happens.

Are they still open to CNH? If so, that would be my guess - traders with CNH in Hong Kong or London.
915  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 27, 2014, 03:56:52 PM
Random post..I guess I'll drop it here.

Is this a new add to coinbase? Hadn't seen it before..and holy shit

http://en.wikipedia.org/wiki/Juan_Zarate

https://coinbase.com/about

Did you look at the two photos? Those aren't even the same person. First name and Last name cannot be used as a primary key for identifying people Smiley

Ahem! Hover your mouse over Coinbase's photo of Juan Zarate.
916  Economy / Economics / Re: ~On Hedging~ on: June 26, 2014, 07:52:30 AM
I guess I agree intuitively with the premise that alt coins are more risky, and not a sound hedge. If I wanted a short term hedge (eg. I held a long position in BTC and was concerned that BTC would fall relative to fiat) I'd use a call option (for example).

But, honestly, I'm bullish (and lazy!) and believe BTC will do just fine in the long term (I'm a hodler, not a trader, obviously).
917  Economy / Economics / Re: only one future currency in the world on: June 24, 2014, 04:58:23 PM

No country will be willing to give up their authority to regulate their own currency willingly.


Montenegro and Kosovo both unilaterally adopted the Euro in 2002; neither are EU members at present. For that matter, the Eurozone countries have given up their authority to regulate their own currency - though I suppose it's possible to argue that the decisions weren't necessarily made willingly.

Currency substitution is fairly common, particularly with the US dollar. There are less cases of full currency substitution (full legal tender, no domestic bank notes), but they do exist - mostly in Central and South America and the Pacific. The Caribbean Netherlands adopted USD in 2010 or 2011 IIRC, and Panama has used USD since the early 20th century (though I believe they use their own coins).
918  Economy / Marketplace / Re: List of honest traders. on: June 05, 2014, 05:31:07 PM
The only question that I have is "why we should belive this lists?! I also can be that ''honest'' traders, who is writting here just like you are, do you belive me? do you have any resons? Huh Undecided

We shouldn't! All it tells us is that - at a certain point in time - X transacted with Y and the outcome was satisfactory (according to X and Y).  All this represents is part of the process by which you establish whether X or Y can be trusted.

As an example, I transacted with another forum member several years ago, and we both posted here upon successful completion. But - since then I could have "gone rogue". And, of course, it could have been a scam by both of us to convince people we were both trustworthy!

Personally, I think this thread is useful (and was probably more useful in the past - it doesn't seem to be updated that much anymore), but shouldn't be the only tool you use in establishing trust.

919  Bitcoin / Bitcoin Discussion / Re: Pronunciation on: May 04, 2014, 05:38:28 PM
im outsid of the US (im british)
and i have never heard a kid or adult say "i want 330mililitres of coke please"
and i have never heard a kid or adult say "i will use 120ml of milk for my pasta"

here is what common man says
"i want a can of coke"
"i will use a cup of milk to mix with my pasta"
carpenters do not say "2inch by 4 inch" or "500millimetres by 1000millimetres".. they say 2 by 4

like i said COMMON man

Hmmm. I'm also in the UK, and in my experience people tend to say "500 mils" where I'd maybe expect them to say "half a litre". A can of Coke is straightforward (there's usually only one thing "can" can mean); bottles less so - is it a 500ml bottle, a 1 litre or a 2 litre bottle? I guess that's why people specify the volume. When it's something like wine we never specify the volume - a bottle is a bottle (albeit one that contains 750ml).

With carpentry, I was taught to measure in millimetres and it's metric when I buy stuff at B&Q but I take your point about 2x4s - it's become genericised, the actual measurements are metric but we continue to use the old naming convention,

You're right that people don't tend to talk about using 120ml of milk, but that's what most recipes use - we just don't tend to talk about our kitchen adventures that much! "Cups" tends to be used when people are following US or older British recipes. (I find "cups" a PITA because all my mugs/cups are different sizes, and I'm a bad enough cook at the best of times without allowing imprecise volume to interfere with my culinary expertise. I usually google the metric equivalent when faced with cups).

That said, there's a strong tendency in the UK to resist metric - beer is still sold in pints (instead of the mighty 600ml "pints" our cousins down under get to enjoy) and speed limits are still set in MPH instead of KM/H. And over the past few years it's become increasingly hard to find litres of milk in supermarkets. Silly supermarkets - pints are for beer Wink (Ideally 600ml pints...)
920  Economy / Economics / Re: Would it be possible to create a distributed bitcoin price stabilizer? on: May 04, 2014, 05:05:53 PM
You can't decide what the price should be, the market will decide it naturally and more efficiently

Market making isn't "deciding what the price should be", it's participation in the market. It's purpose is to provide liquidity and reduce volatility. It's no different to a buyer and a seller placing bids and asks, except it's one entity placing the bids and asks, hoping to profit from the spread as a reward for providing liquidity.

I am not saying there can't be any market maker, I am saying there can't be an efficient way to act as a market maker to stabilize the prices and avoid volatility

Ah, understood. Yes, volatility can't be removed entirely or price wouldn't move (or - more likely - the market maker would go bust).
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