well,
its the 10th. althugh a bit early  ( 9 am ).
the site still says "restocking on 10th"...
hoping it will be up by 10 - 10:30.

Price has already gone up by abt 5 - 6 % since last night.....

Oh!!!!!
I get it .. Penetration testing. not Pen (like a ball pen) testing....

So you also doctor? what kind of "penetrations"
 

this is interesting.. what is the process you follow?

are you serious? Really? You can't step out and buy it?

I can get you one. It will take me about 2 days. It will take another 2-3 days for it to reach you in bangalore.

You really think its worth it?

awesome!

bombay

Awesome!!!
I have the cash ready!
Just say the word, and its all yours!!!
 

Python is amazing... With very little programming background, I managed to learn enough in 3 months to write a full fledged GUI Map generator for a board game..
I currently use python for pretty much everything -> from simple calculations to some simple text processing, and some small scripts for personal use.

One thing i was working on was a small python script that queries buysellbitco.in AND mtgox.com, every few minutes, and outputs the Market price, time stamp, and Effective USD/Re exchange rate.

I noticed that the price varies from around 59.0 to about 60.8 Rs/Usd ....
Simple things like this can help in timing an order with buysellbitco.in to get a better exchange rate (although in this case, its just a difference of Rs 1.8 ).
Took about n hour to write, test, debug and have it up and running without problems. Ran it for about a week before I got bored.

If Python is on the cards, I would love to contribute, although I would rate myself as an intermediate level programmer.

I have already made 2 or 3 purchases from buysellbitco.in and i must say they were the most flawless ones. I had the funds in my wallet before i even got the chance to send out a photo of the deposit slip..

Sadly, they're out of stock for now..... Seems like the demand is pretty high in India...

Are yo guys 100 % sure you will be restocking on the 10th?

I completely agree wit you. When it comes to bitcoins, safety of funds and trust is of utmost importance.
In any case, a 2 hour waiting period is not so long compared to online bank transfers or cheque payments.

If you intend on implementing litecoins on your site, the users will have the option of buying Litecoins and getting their transactions confirmed in 10 minutes or so, instead of 2 hours for bitcoin.

Litecoin does seem like the only other interesting crypto currency and has gained a lot in value over the last one or 2 weeks.

Litecoins would be an awesome addition to buysellbitco.in

So far i have only been able to procure litecoins by mining, and considering the sudden spurt in difficulty recently, it is no longer profitable for me to mine on my stupid box.. buying in India would be a welcome addition, and gives people more choices.
Nice
I like it.

We should define it as a "product" or "commodity" of some sort, and list out points as to why it does not fit the description of a "virtual currency" (e.g., decentralized.. mined/produced all over the world ). then dealing with regulations should not be a problem, right?

Hehe..
Bangalore is actually quite boring, with everything hutting at 11:00

 

Please lock and close this topic.


PLEASE.... I beg....

enough of this crap.
THIS is what is discouraging me from wanting to contribute.

Let's say we agree to setup such a consortium.
What would be the next step in the process...?

Let's not start with politicians. The later we have to deal with them, the better.

This is very interesting.
Thanks benson!

I would at least like to know an approximate ETA for such an exchange, if nothing else.

how about putting a disclaimer that links to terms and conditions of use which specifically mention that blockchain information WILL be used as evidence of transactions in case of dispute. Anyone who proceeds with purchase, agrees to such terms.

KYC defeats anonymity.
Anonymity may not be a requirement for everyone.

@subvolatil

even if he is trying to discourage people ( which he is not), ther is nothing stopping you, or anyone else from putting him on an ignore list. He has no control over bitcoin or bitcoin businesses ( just like the government doesnt ), so he cannot STOP anyone. It is no secret that he is doing business. I have known it from day one.

Now, from this point onwards, let's please stay on topic and not dirty this thread anymore.
thank you.

Back on topic:

from your other post :
https://bitcointalk.org/index.php?topic=130017.msg1389366#msg1389366


Very true. Completely agree.


These new standards will need to be approved by a regulator. There's the first problem.


That's the second one. No regulator wants to give anyone any freedom. That is the whole point of "regulation"; Control.


This can be done by selling preloaded coin shaped retractable USB drives ( a round coin, with a usb adaptar that can pop out, and can be pushed back in), with a wallet preloaded on to it. a wallet that would not require a complete blockchain, and would allow the user to easily interface with the bitcoins ( send, receive) and the wallet ( change passphrase, generate new addresses, maintain address book, etc ). This should be OS independent and self-contained within the usb drive.
this will still require the person to be able to use and have access to a computer and an internet connection.

this is similar to https://www.casascius.com/.

Internet penetration in india is still quite low. Cell phone penetration is pretty high, and smartphones are becoming cheaper and more common place. Data service are available on phones from the word go, so a "mobile" wallet with an easy to use interface, as described above. Also an easier way of "refilling" the wallet.

Another question that i have is about credit cards.
why can't credit cards be used to purchase bitcoin?
If i were to set up a website that accepts CC payments for bitcoins, would that be a problem? from the regulator's pov, i do not see it as an issue. All credit card transactions can be tracked, and so can the bitcoin transactions. As long as a link is maintained between an order and a btc address, that should suffice, right?
beyond that point it is the "buyer's" responsibility how to break the link ( bitcoin fog anyone? ) between the address and the payment.

Such a "business" could also accept online debit card payments.

I am not aware about the legalities or the issues associated with such a setup. From all my research on bitcoin, i have noticed that no-one accepts credit card payments for bitcoins. I wonder why. something about chargebacks? i am sure this issue can be easily managed.
Maybe it is the credit card companies that need to approve the "product" before they allow payments for it?

i usually try to stay away from bullshit like this but here goes:

1. The relevance of the "girls" story is that in india, it does not matter what you have done. If they (LE, government, political party, any random person ) wanna fuck you, they will FUCK you.

2. I have personally had to pay bribes to get LEGAL OFFICIAL work done. In normal time. Not super fast or anything. I had a government official asking me for "chai pani " before signing a document which he is supposed to, in his official duty, sign for free. That's what the government pays him for. So yes, this is a REAL problem that will have to be dealt with eventually. Bitcoin is useful for that also, btw.

3. Imagine this  from a bank's POV-> in comes a mechanism to transfer funds, internationally, at a fraction of the cost of current regulated systems, with limited ability to be traced, and almost guaranteed anonymity. Mass adoption of such a system will deprive the banks of their "processing" and "transaction" fees, and put a dent in their profits. Hundreds of thousands of people, politicians included, have money invested in the stocks of these banks. If their profitability declines, investors will lose their money. No one wants to lose money. This is just me thinking out a scenario in 5 minutes. People who understand shit like this would have probably played out at least 10 different scenarios. One of them would be requiring some sort of proof of ownership of a deposit address, or registration of user wallets or some shit like that ( which will not work ).

So yes, when dishwara says that bankers will lobby together and bribe the politicians to oppose bills, he is right. That is why we cannot be hasty and need to think and plan for every possibility before we try to start something that might get us all into trouble with the law or the regulator. No one wants to deal with that shit.

4. dishwara is not a scammer. I have dealt with him personally when i had absolutely no reputation on this site. Easy target to scam. And he came through, no problems whatsoever. I had even verified his background before dealing with him. He might come across as being arrogant and snobbish because of the way he structures his sentences, but that is really not the case.