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Ozziecoin I suggest showing your total M3 supply instead of the M3 growth in the chart on your website. The reason why is that to the lay-person they may look at that graph and think to themselves that the "growth is pretty steady, no big changes", while if you show them the actual M3 it's easier to imagine that their money is getting inflated through the roof.
Just my suggestion
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People will use bitcoin when the following conditions are met: 1) Apps make it VERY easy to buy/sell and trade 2) Big stores and grocery stores accept it, IE Target, Walmart, Food 4 Less, Stater Bros etc 3) Stores offer discounts for using bitcoins (pass on some of the savings from credit card percentage charges to us) 4) People can take part of the their income in bitcoin (see https://bitpay.com/bitcoin-payroll-api) |
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My Fury was shipped a few days late, but GAW Miners_CEO (I don't recall his actual name atm) quickly paid me for my lost mining time (with a little extra!). Payment was made super fast and was in accordance to "or we pay you for your lost mining time" guarantee on their website. Thanks Guys!
GAWMiners once again proving they ARE the standard of service for bitcoin and altcoin mining equipment!
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Can anyone please confirm what power connectors the black widow requires? Is it just 2 x 6 Pin PCI-e? or does it need 4 x 6 Pin PCI-E? or 2 x 8 Pin something? Trying to figure out what PSU I need to buy, if any (I have 2 x 6 Pin PCI-E available)  Looks like 2 PCI-E but I Can't tell since Luke told me that 4 x 6 pin PCIE were needed and I see 2 extra slots in that picture. |
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Pace has slowed down though at Overstock
What's interesting is that they are retaining 10% of btc and only turning 90% to fiat
DO you have a source for that? Because if they are keeping 10% of the bitcoin as actual bitcoin, and not converting it all to fiat I'd be one happy camper. |
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I think by them saying to switch to Microsofts bitlocker (LOL) is a red flag for all of us. Truecrypt's devs would never say that. I think this is somewhat of a Warrent Canary to let us know that either the NSA has seized control of the project and to not trust any new updates, or that the developer has been arrested or ordered to implement a backdoor. I would continue to use Truecrypt 7.1a or earlier and NOT use 7.2 or any new version. And DONT use bitlocker, Microsoft has partnered with the NSA many times and I'd bet $$ that there is a NSA backdoor in there for sure.
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Even though its on walmart's website it is actually being sold and shipped by TigerDirect, which is nothing new.
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With all the moaning and complaining about the impact of the recent IRS statement on the tax-ability of bitcoin, most have overlooked one good outcome of this clarification. One that hopefully will unleash even more philanthropy in our bitcoin community. Under current IRS guidance, dispositions (sales and spendings) of bitcoin are a taxable event. Bitcoin is property and when it's sold or spent, an individual must calculate the gain or loss on that transaction and report it as a capital gain or loss on his/her Federal Income Tax filing. Except for this: Bitcoin that has been held for more than a year and gone up in value can be donated to a recognized charity without having to report any taxable gain to the IRS; what's more, one can take a deduction for its full market value at the time of donation. Donations of appreciated bitcoin held a year or less are still deductible, but their gains in value must also be recognized (and taxed). This often overlooked fact turns a significant negative into a strong positive. Don't sell or spend profitable long-term holdings of bitcoin. Inasmuch as you can, donate them to charity and buy yourself a double tax break with your generosity. There is a long section on Contributions of Property found here: http://www.irs.gov/publications/p526/ar02.html#en_US_2013_publink1000229703Here you'll find more specific information in the sections Giving Property That Has Increased in Value -- Ordinary Income Property & Capital Gain Property: http://www.irs.gov/publications/p526/ar02.html#en_US_2013_publink1000229755The IRS Guidance Summary is here: http://www.irs.gov/uac/Newsroom/IRS-Virtual-Currency-GuidanceExample: Let's say in 2014 you have taxable income of $100k and thus you were in a 25% marginal tax bracket; and you itemize deductions on Schedule A. You have $3000 worth bitcoin (present value) to sell/spend or donate; for those coins, you paid $1000 more than a year before. If you sell or spend those bitcoin, you will pay $300-560 in Federal taxes ($2000 gain X 15-28%), depending on what tax rate is applied. And you might also pay state income taxes; at say 5%, that's another $100. If you donate the $3000 worth of bitcoin to a charity, you pay no Federal or state tax, and you pick up a tax benefit of $750 in the Sch A deduction of $3000; that is, $3000 X 25%. References: See what T. Rowe Price and Fidelity have to say about this strategy. http://programforgiving.org/charitable/pages/donatingAppreciatedAssets.jsp http://www.fidelitycharitable.org/giving-strategies/tax-estate-planning/appreciated-securities.shtmlOk, so I do a bunch of work, spend a gazillion dollars to gain a ton of Bitcoins and then give them all away so I don't have to pay taxes? Are you on drugs? I think the point is that you can donate some of your bitcoins and then use that as a deductible to lower your taxes on whatever fiat you make, thereby 1) Doing a good deed and 2) Giving yourself a tax break on your 9-5'er income. |
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to be honest I'm glad that more merchants are accepting "bitcoins" as payments, but in reality they are just extending their support for cash in most cases. These vendors are just using these payment processors to get more USD from other customers, then these companies put the coins back for sell to individuals on bitstamp. That net effect moves bitcoins from holders to other private buyers, while undercutting market prices to ensure the sale of the coins in a timely manner.
I really hope that these companies are holding at least some of the coins they are receiving, otherwise I think the increase of selling of bitcoins could ultimately hurt bitcoin price in the short term.
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GAW Fury Hash update: AVG: 40 watts and puts out the heat.
1.3mh/s Using cgminer windows build from GAW site. Uptime about 1 1/2hr cgminer.exe -o stratum+tcp://emd.dutchpool.org:3333 -u ___TR___.3 -p 1 --nocheck-golden --chips-count 6 --ltc-clk 328 -S //./COM4
pause
You mean it runs hot? It disperses heat well? Or it heats up the room? Curious cause I have one on the way as well. |
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Anyone that has received their Black Widow, can you post a link to the PSU that you ordered online? Did you really need 4 separate PCI-E power lines?
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I mostly lurk, rarely post, but as someone who has been involved in the KYC compliance changes for one of the worlds largest financial institutions, I'd just like to say this:
This is quite literally textbook FinCEN foundation, and I would actually take this to be a good sign. It means that Stamp is taking the necessary steps (including a fair bit of 'catch-up') to be in compliance with US money laundering regulations that would place it on the same level of credibility as an international bank. Personally, while it might be a bit of a chore at the outset, I consider this a very good sign long-term.
Thanks as a 15 year veteran of Commercial Banking & finance sector ...Its is a totally bullish sign and i will say it again Answer the fucking KYC or go launder your drug money and terrorist funding on btc-e for a 5% fee This is standard practice for Large banks & funding of sums over 10k How you nut jobs connect this totall awesome behaviour with stamp being insolvent is mind boggling Just like whores gotta smoke crack... big banks need their kyc/AML questions answered  When has the government ever asked you to take a picture of yourself with your bank statement and passport/photo ID in hand? I'd really like to know where this is a "standard of practice" if you will. |
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ahh that's right -- circle. i do hope that goes well and that they are able to have a product that at least competes with coinbase to help form a stronger and more competitive market. it's true though, the exchange situation is frankly scary.
I do have my doubts about Circle as well. I'm really hoping they pull through with their promises, but to be completely honest... if they do I'll be surprised. If, and it's a big if, that happens, I think it could completely change the game when it comes to exchanges and buying/selling coins. Then the next step will be changing the way the real exchanges (for coin<->coin transfers) work. Well a problem with places like Coinbase and Circle that was pointed out to me by DeathAndTaxes is that they could vary well become a fractional reserve for bitcoin quite easily, which scares me. Especially with Circle's whole ideology of showing the dollar value in emphasis and a small font and lighter color for bitcoin might mean that they plan on transfering dollar amounts instead of actual bitcoin sometime in the future. Can't you see coinbase and circle teaming up to allow money transfers between them both and at some point "loaning" bitcoin to a company or a user without their knowledge of it? As far as the whole FinCEN goes I don't remember any other company ever wanting a photo with you standing in it with your passport in one hand and a bank statement in the other hand, as well as accounting for where all your coins came from. However, It is promising that other users ahve withdrawn bitcoin and fiat recently without any issues. |
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It's GAWmazing! Sounds GAWrrific! That's GAWtastic! <--My favorite Hopefully I can squeeze into the entry  |
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sorry to interrupt, goat, i just wanted to ask you something but i get "Unable to find member 'smoothie's man crush" ?
if only we had some way to get theymos some coin to get a working forum.  maybe it's not logged properly in db as you only changed your name recently, i think well i tried to send you a pm. Goat and I PM'd a few times a while back on bitcoin price speculation and investment for the future etc, which was all fine and dandy. A few weeks later I sent him a PM asking if he wanted to start a project with me, he did not respond. A week or so later I asked him again nicely if he had considered it or if he wasn't interested so I could move on without him. Sometime after that he left me negative trust for "spamming" him "twice". WTF? Not only was that uncalled for (you could have just said, "no I'm not interested in that"), but is also abuse of the trust system IMO. PM'ing Goat is dangerous for your trust rating, which is admittedly flawed as it is anyways. To Goat: I sent you 1 PM and a follow up PM to see if I should move on without you. I clearly wasn't "spamming" you. Can you please remove that trust rating? |
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Gooooood Morning everyone!!! I know nothing can quite fill in the void while you wait for your GAW Miner (we feel the same way). But, I have the next best thing! Here are some pictures from the packing process. PS. we even got the company that makes all the packaging for Apple to make the boxes that your new GAW Miner comes in. Just because we love you    other great photos... GAW: Those photos are F*cking BEAUTIFUL. Thank you so much for posting them. I've been eagerly awaiting some pics of the new miners!!! The actual cases for the miners look sturdy and well developed. I also like the rails you added for stackability. /thumbsup |
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When* Bitcoin becomes a million dollars a coin it will make millionares out of people that recently bought/mined coins. The trick is patience, and when you think it's time to sell, Dont. Set goals for yourself and stick with them. Don't let emotion set it. Could you imagine people that bought coins at say $10 and then selling them all during a $40 peak? They needed plan, how many coins they wanted to keep and what percentage of a rake they would take at whatever levels of bitcoin price.
TLDR: Yes Bitcoins will still make millionares out of recent investors.
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This type of account verification is nothing new. It's been in place since September 2013.
That being said, Bitstamp is formally incorporated in the UK, and given the UK's closeness to the US in the context of law enforcement / anti-terrorism is it any wonder that the UK government is (probably) putting pressure on Bitstamp to do a better job at KYC enforcement?
Accounting for where all your coins came from or having to take a photo with your face + your bank statement + your Passport in hand is excessive IMO. I would never go through all that trouble for any service within the US. Are you sure that account verification is that strict in the UK? |
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Yeah coinbase is hypotheized to resell/buy off bitstamp and I believe Bitpay uses bitstamp to convert the BTC to fiat for their customers. With that being said they would need to find new exchanges/marketplaces (maybe even create their own for double profit?) in order to continue business as usual.
I don't how how many more insolvent bitcoin exchanges the public will take tbh. I think another big exchange like Bitstamp going down could put bitcoin in a major set back for a long period of time.
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