So first state media endorses it, and then central bank proposes it as a new global currency? I no longer have doubts that China will be the first to adopt Bitcoin on a wide scale.
They are certainly aware of it as "virtual gold", but surely they will wait to see how it develops before getting too carried away. |
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If the machine is faulty then loads of other customers will also be getting free money and it will soon be reported to the bank. They will check through the list of accounts which had withdrawals during the period and will try to verify each entry. You might get contacted, and then the question of volunteering to return the extra can't be avoided.
A credit union sounds like a small institution owned by its members so it is morally better to report what happened.
If it was a one of the primary dealer bankster banks (BoA, JPM, HSBC etc) then let them figure it out first as they have wrecked so many lives with their shady financial practices, they are morally bankrupt anyway.
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The problem is not so much the exchanges, it is that US citizens are using them.
For the SEC chair-polishing bureaucrats this means the sheeple are doing something without permission. They are sticking their heads through the barbed wire and munching on long green grass on the other side. How dare they? This must be stopped even if it means torching the grass with a flamethrower. The sheeple must be administered by the SEC for their own good!
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The withdrawal queues are definitely at MtGox because people can wait 6 or 8 weeks for their transfer, request a cancel, and the funds are credited to their trading account immediately. So the wires are not being actioned. "Confirmed" means "we will do it one day, if ever". The bad banks work by flagging / blacklisting accounts so in order to counteract their measures Gox is trying to play hide and seek: open a number of accounts with other banks.
I agree with this that Gox's transfers are being throttled by their banks. Probably because of US pressure after the Dwolla/MSB fiasco. There must be a daily dollar cap, which means only their biggest, most elite, whale customers get looked after. Everyone else spins in the wind. |
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Interesting point about SWIFT. I wonder if there is a facility where people who are depositing to MtGox can make an official complaint to SWIFT if the process takes >6 days.
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Barclays withdraws banking serves from Somalia, HSBC from PNG - which is the last country in the world to be a problem to anyone, Cypriot savers get raped... it goes on
Although I agree entirely with your overall position, I'm not sure that Papua New Guinea are being singled out here, HSBC have withdrawn services from all diplomatic missions. Or at least that's how it has been presented in the media, I wonder which countries they might make exceptions for... Agreed. But some countries will find it more difficult to obtain alternative services. |
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This is no less than financial terrorism being waged against countries which are not part of the bankster cartel.
Barclays withdraws banking serves from Somalia, HSBC from PNG - which is the last country in the world to be a problem to anyone, Cypriot savers get raped... it goes on
Bitcoin needs two things urgently, the point-of-sale improvements, which core dev are working on, and the scalability issues resolved., because the fiat system is tearing itself to bits through unbridled greed and power-plays.
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The prudent option is to buy coins on MtGox, transfer them to Bitstamp, sell and retrieve your funds.
This loses close to 10%, but is better than nothing if the fiat is needed.
If you can't afford to lose as much as 10%, withdraw the coins from gox and try selling on localbitcoins.com
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The problem with buying houses with bitcoin isn't so much on the buyer's side as it is on the seller's. I'd love to buy a house this way if I bought in when bitcoins were super cheap a few years ago. The issue is that unless for some reason you're going to want to keep all the money in bitcoins, you'd almost certainly depress the price a bit when selling unless you did it really carefully.
Selling 2,000 coins on MtGox will barely move the price down $1 or $2. The real problem is getting your fiat off Gox afterwards. Might need to scream and yell at them and wait 3 months to achieve it. |
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Since the "When will we see $100 again" poll has now been achieved I thought it would be fun to start a new poll. I predict by the end of next month, August 31st, we will get to $200. I am admittedly and unashamedly very bullish at all times though. I do find it fun that some people voted that we would never see $100 again in the last poll and that did not last long.  See you on the other side of $200!!  I am confident we will see $200 by early 2014, There is no stopping it alot of investors are jumping into digital currency and Bitcoin is the ultimate speculative Digital currency investment vehicle. We will def see it go to $500 sometime next year. I know there are people calling for a $1 Million per bitcoin but that will only happen if a total collapse of fiat happens, which seems to be an unlikely scenario, given the masses are convinced the Dollar is worth something no matter how devalued it gets. In 1920 the average German still valued the Reichsmark. Two years later, no more, it was stove fuel. |
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Yes. Lots of good news, but significant gaps, like no mention of how the FinCen MSB registration process is going, or why accounts with several banks are not up and running. Do all their banks have the same trick of hanging onto deposits for 7-10 days?? |
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Also.. if you were about to drop $200Million into a mining outfit... you'd probably have dropped a massive chunk straight into buying bitcoins just before publicizing the news.
I still smell a stinking ball of incestuous journalists feeding off the same rumour. Would love to be wrong though!
Somebody has been buying up all of Avalon's coins already. It fits. Yifu has come out and said that all of the Bitcoins that were recieved as payment for the most recent round of loose chip sales were sold. If you look at the blockchain none of those coins were moved - the ownership of the wallet was transferred. http://blockchain.info/address/1FGAftzSTztFSB8LMwsrdCKTyqGY6zr3sU?offset=0&filter=0Over 75,000 bitcoins were sold at once. That buyer could have been Joe Lewis. But surely the buyer HAS to move them. That is a zero-cost step to take. A wallet buyer can never be sure that the private key is unknown to the seller(s). The coins could disappear at any time. This is like leaving $8m in cash sitting in your car. |
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