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2061  Economy / Economics / Re: The Switzerland of Bitcoin on: June 14, 2015, 02:44:49 PM
the land of bitcoin is china since big mining company there already but  the best country well ,potencial several of them the best well no one since all are making lays to try control bitcoin .... that is decentralized crypto coin ....

I don't see China becoming bitcoin friendly. It would mean loosening capital control - something which is not going to happen soon.

in fact they will not, they are too much attached to the money of bitcoin, not to bitcoin itself, they don't care to much about what it can offer in the future over their currency, or over fiat in general

i still can't understand why japan cannot embrace it yet, they are always in favor of new tech, they love new technology...

anyway my vote go to singapore

Japan has been at the forefront, apart from the US. Mt Gox was in Japan.  Grin
Japanese always seem to prefer something which is localized. Monacoin is pretty popular now.
2062  Economy / Economics / Re: The Switzerland of Bitcoin on: June 12, 2015, 04:43:56 PM
the land of bitcoin is china since big mining company there already but  the best country well ,potencial several of them the best well no one since all are making lays to try control bitcoin .... that is decentralized crypto coin ....

I don't see China becoming bitcoin friendly. It would mean loosening capital control - something which is not going to happen soon.
2063  Economy / Economics / Re: Bitcoin has entered Wall street officially? on: June 12, 2015, 04:42:18 PM
In a way I would say it's yes. Although Overstock core business is in the retail field but with the new development in offering cryptosecurities, indirectly they are acting as our brand ambassador that carries along the bitcoin name. This is also compounded by the fact that they are also one of the biggest online business to accept bitcoin. investors are putting their money into buying the bonds means they have confidence in the business they are doing. I would look at it that way.

It's definitely great publicity for Bitcoin. What all those companies should do besides accepting BTC payments tho, is offer their employees their wage in BTC instead of dumping their gains for fiat.

Yup, this helps in increasing bitcoin adoption. If those employees find enough places to spend bitcoin, we could have some circulation of bitcoins. Else, the employees will dump the bitcoins and it really doesn't help.
2064  Bitcoin / Bitcoin Discussion / Re: Would You Ever Take Out a Loan in Bitcoin? on: June 11, 2015, 12:25:22 AM
If you have a bearish price outlook, you can take a loan in Bitcoin.
You are effectively going short on Bitcoin by taking a loan. Of course, the loan would have to be at a reasonably low interest rate.
2065  Economy / Economics / Re: London has been the most popular location for fintech companies, yet... on: June 11, 2015, 12:21:09 AM
london want to promote themselves a central hub for bitcoin and maybe for crypto in general, they are working on regulating it, maybe with something like bitlicence but better, seeing how bitlicens is causing some chaos and confusion(an article is talking about is on coindesk)

The UK bitlicense (if and when it happens) might be worse then the NY one. These kind of actions (forcing companies to implement backdoors in cryptography) do not inspire confidence.
2066  Economy / Economics / Re: Buying Bitcoin on margin - this could explode the market (and bank accounts) on: June 11, 2015, 12:15:52 AM
The losses are definitely bigger. You're borrowing bitcoin to trade. Therefore, if the bitcoin goes down, you need to dip into your pocket to buy back the bitcoin so you can return it.
Yep, you can end up owing money to he exchange (the money the exchange gave you to do the leverage).

This is in my opinion nuts unless you want to take a big risk. Poloniex also got margin trading recently (and as a result got kicked by the Fincen to have more a restrict withdrawing policy).

Usually, if the price of bitcoin starts moving in the opposite direction, the exchange will make a margin call to you. If you fail to deposit money quickly, they will sell your coins. That way they don't have to worry about recovering money from you.
2067  Economy / Economics / Re: Millennials trust Bitcoin more than Fiat! on: June 09, 2015, 11:51:36 PM
This is definitely a blanket statement. Bitcoin awareness/usage is still low in all sections of society, millennials or otherwise.
If Bitcoin becomes popular with the younger generation, then the demise of fiat will be hastened.  Wink
2068  Economy / Economics / Re: Record High Margin Debt With Most Traders Betting Against This Market on: June 09, 2015, 11:47:56 PM
Well. that´s great news and a huge relief especially since in its 2014 annual report the FDIC points out that its whole insurance fund constitutes just a fraction of a percent of all deposits in the system, and that its ‘reserve ratio’ is just 1.01%. So, all that bail-in talk we´ve been hearing is just pointless noise. And the simulation exercises that the U.S. has conducted  with the U.K. in recent years a totally useless waste of time.

I guess that no one in government have the slightest idea about what is going on inside banks. Because of this, when things went wrong, they always make the wrong decision, and hit the most trivial part of the system. They bailout the bank by giving them the right to create trillions of dollars, and then banks use those dollars to enslave the nation. They tried to regulate banks, but their bailout is in fact the biggest deregulation


Too big to fail is one concept they have become aware of after the crisis. If there is actual action on this front, then we can feel happy that the government has learnt something. It is definitely a costly lesson, but if it helps avert the next crisis, nothing like it.
2069  Economy / Economics / Re: If Greece defaults on: June 08, 2015, 12:11:25 AM
even with some countrys facing huge problems,putin can really save greece problems ,but when it will start if will start those program..

The Turkish Stream is currently under construction. So in normal scenario, it will take many years for the Greeks to receive their first revenue from the pipeline. I just hope that the Russians will give an advance payment for the transaction fee, thereby reducing the chances of Greece defaulting on its debt. But I am not sure about it, as Russia is struggling financially right now.

If Putin steps in now, he will demand his pound of flesh.
Then the troika won't be amused. Greece can't afford to do that. No matter how helpful Russia is, they still need to humour the troika.
2070  Economy / Economics / Re: The Internet is Changing the Very Definition of Money on: June 08, 2015, 12:05:49 AM
Our current money was never designed with the internet in mind. We are dealing with deprecated forms of money in the modern internet era, this is why Bitcoin is the objective superior way to move and store value. Those that get it now, will reap the benefits later, this is pure physics.

Bitcoin may be superior to our current money, but will that be sufficient to succeed? Money evolves - we have had the gold standard, Bretton Woods system, floating exchange rate, etc. Bitcoin may be the flavour of today, but we can't be sure it will stay that way.

first step would be to accept all countries btc ass payment (something like most of europe euro)

That is not going to happen anytime soon. Countries will not let this happen unless they are forced to.
Even when they see the virtues of the blockchain, they are going to try to set up their own e-currency.
2071  Economy / Economics / Re: Smoking gun of the world system? on: June 06, 2015, 02:21:55 AM
It isn't a conspiracy theory that Goldman Sachs basically runs the USA government.  Why did no one go to jail?  Hank Paulson was CEO when Goldman was making all of these derivatives and then betting against them with AIG.  Who got appointed to government to oversee the crisis?  Paulson.   Look at who is appointed to what, and if it is a financial position it is usually held by a former goldman guy.

So yeah, Paulson isn't going to send himself to jail.  If you want to see a really good documentary on the subject check out "Inside Job."  It is a really good film, but also frustrating to watch.  And this is a global problem not just a USA problem.

In developing countries, it is corrupt politicians and their relatives who screw the system and manage to get away. In the US, it seems to be Goldman Sachs employees. If public opinion is so strong against these guys, what prevents the government from doing a clean up job?
2072  Economy / Economics / Re: The Internet is Changing the Very Definition of Money on: June 06, 2015, 02:11:27 AM
Our current money was never designed with the internet in mind. We are dealing with deprecated forms of money in the modern internet era, this is why Bitcoin is the objective superior way to move and store value. Those that get it now, will reap the benefits later, this is pure physics.

Bitcoin may be superior to our current money, but will that be sufficient to succeed? Money evolves - we have had the gold standard, Bretton Woods system, floating exchange rate, etc. Bitcoin may be the flavour of today, but we can't be sure it will stay that way.
2073  Economy / Speculation / Re: Those who purchased at $1000 on: June 01, 2015, 11:35:13 PM


...and who bought a pizza with 10.000 BTC ?

Those pizzas provided an impetus to the whole Bitcoin economy.
Who knows, Bitcoin may not have reached $1000 if it weren't for those pizzas!!
2074  Economy / Economics / Re: Is bitcoin dead? on: June 01, 2015, 11:32:56 PM
I have seen lots of local good news lately. It think people has no idea of what's going on with the blocksize problem eyond the people that are active members of the community.

People who have sizable amounts invested in Bitcoin will be following it closely. They can't afford to be caught napping. Smiley
A casual follower may not be aware of it...
2075  Bitcoin / Bitcoin Discussion / Re: Warren Buffet saids: “Stay Away From Bitcoin” on: June 01, 2015, 11:30:29 PM
Who cares about Warren Buffet? He made money with Berkshire only because he was lucky. I am sure that his IQ is much lower than that of an average investor. And we can expect similar statements from low IQ people.

You don't become one of the richest men in the world by being "lucky". And to say "his IQ is much lower than that of an average investor" is laughable.

Warren just doesn't invest in what he doesn't understand. And he sure doesn't understand Bitcoin.  Wink
That doesn't mean others should stay away from Bitcoin.
2076  Economy / Economics / Re: Is it better to save money or invest it? on: May 30, 2015, 05:15:33 AM
better to invest in bitcoin, gold maybe more secure, but bitcoin has more potential to grow

saving money in the bank, will only mean losing them in the long-term with the current high inflation

I would think bitcoin operates under the same guise, if you look recently into bitcoin it gained fame becausse of how expensive it was (Like over 1000$) but now it has tanked way below that, because of the overabundance, and therefore a type of inflation.  I would think investing in something more physical would be worthwhile, instead of money type things.  Like a house, it may dip a lot but it will always come back up, you just have to be patient. 

Bitcoin gained fame not because how expensive it was, but how quickly it got there.
The tendency to invest in real estate/ real assets is more prevalent in developing countries, where the financial markets are not that well developed. Equity (in general) is a more preferred class than real estate, and Bitcoin has the potential to provide even higher returns. So a small proportion of your savings in bitcoin is not a bad idea.
2077  Other / Off-topic / Re: Bitcoin and Porn on: May 30, 2015, 05:01:56 AM
As I understand it the porn industry relies heavily on the rebills model- When you sign up you give them your credit card details and the authority to deduct a certain amount on a regular basis, usually a monthly subscription fee for continued access or service to online content. 


If the content is good, people will come back to the site, even when there is no automatic rebilling.  Smiley
The control that people have over spending their bitcoins shouldn't worry the porn industry.
2078  Economy / Economics / Re: Major Banks Admit Price Fixing... Hugh Penalties on: May 29, 2015, 02:07:10 PM
I still don't understand the relationship between banks and governments in a democratic country

It seems they are not belong to the same owner, but they have some kind of cooperation. Now after financial crisis, bank's reputation drops dramatically, governments set more laws to regulate banks and constantly putting fines on them. But on the other hand, government still borrow from banks to stimulate economy, so they have some kind of dependency

Anyway, if they are not belong to the same owner, there will be lots of political conflicts. Currently government are focusing on AML/KYC part to tighten the money flow control, but it is just a matter of time before they eventually hit the most critical part: the money creation

Banks perform an important role in all countries, democratic or not. Growth in credit provides an impetus to the economy. If people could not get credit, it would be impossible for a young man to buy a house, a new car, or take a vacation. All these purchases provide a stimulus to the economy and make it grow.
2079  Bitcoin / Bitcoin Discussion / Re: Should Satoshi return? on: May 29, 2015, 02:04:22 PM
I would like his official view on big subjects that may change fudamentals of BTC such as the Block size upgrade. It would be great if he said how amazing 20MB of block size limit is and how silly is to keep it at 1MB.

Well, if Bitcoin is veering towards a path he strongly disapproves of, he could make an appearance.
He needn't reveal himself, just a signed message from him would do.
Everybody would take notice and his voice would be heard.
2080  Economy / Economics / Re: How to save money. on: May 28, 2015, 04:49:45 PM
They don't care why we withdraw all of our money. Because that money is ours and not to them and they can ask but we have a right to not answer that question. Its up to you if you are going to explained to them why.

They are supposed to "know their customer".
Better to come clean to the bank. Otherwise, they might just file a suspicious activity report about you to the regulator. You wouldn't want that happening, would you?  Tongue
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