Bitcoin Forum
April 18, 2014, 09:15:55 PM *
News: Due to the OpenSSL heartbleed bug, changing your forum password is recommended.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Plane with 1.5 ton gold held in Turkey  (Read 2859 times)
wachtwoord
Hero Member
*****
Offline Offline

Activity: 896



View Profile WWW

Ignore
January 06, 2013, 12:49:31 PM
 #1

http://www.pardaphash.com/news/cargo-plane-held-with-15-ton-gold-in-turkey/702588.html

Rumors say this is a payment (of ~$80M) from some African country to Iran which had to be carried out secretively due to the sanctions placed on Iran.

They should have used Bitcoin instead of a plane.

✰ Scared Money Don't Make No Money | PrimeDice.com | The New Way To Roll *Thread*
I now do Bitcoin consultancy! PM to discuss terms.
Selling my signature space! PM to discuss terms.
eeb227823edc2ef43867d2640d26615cb7a3b2194af128c97b5f64770d367ba4
1397855755
Hero Member
*
Offline Offline

Posts: 1397855755

View Profile Personal Message (Offline)

Ignore
1397855755
Reply with quote  #2

1397855755
Report to moderator
1397855755
Hero Member
*
Offline Offline

Posts: 1397855755

View Profile Personal Message (Offline)

Ignore
1397855755
Reply with quote  #2

1397855755
Report to moderator
1397855755
Hero Member
*
Offline Offline

Posts: 1397855755

View Profile Personal Message (Offline)

Ignore
1397855755
Reply with quote  #2

1397855755
Report to moderator
GAWMiners.com
ASIC Scrypt Miners
Guaranteed Satisfaction + Same-Day Shipping For FREE!
Simply Enter "freeshipping" at checkout

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1397855755
Hero Member
*
Offline Offline

Posts: 1397855755

View Profile Personal Message (Offline)

Ignore
1397855755
Reply with quote  #2

1397855755
Report to moderator
1397855755
Hero Member
*
Offline Offline

Posts: 1397855755

View Profile Personal Message (Offline)

Ignore
1397855755
Reply with quote  #2

1397855755
Report to moderator
beekeeper
Sr. Member
****
Offline Offline

Activity: 406


LTC


View Profile WWW

Ignore
January 06, 2013, 12:51:12 PM
 #2

There is only 100 million BTC worth produced so far, hard to get 80 million overnight..

25Khs at 5W Litecoin USB dongle (FPGA), 45kHs overclocked
https://bitcointalk.org/index.php?topic=310926
Litecoin FPGA shop -> http://ltcgear.com
Carlton Banks
Hero Member
*****
Offline Offline

Activity: 602



View Profile

Ignore
January 06, 2013, 12:59:42 PM
 #3

There is only 100 million BTC worth produced so far, hard to get 80 million overnight..

It wouldn't surprise me if some of these countries with trade/banking embargoes are using Bitcoin, but for transactions of smaller amounts (i.e. amounts significantly lower than the current market capitalization). Spreading a $1million transaction out over a few of days wouldn't look wayward on the BTC price charts, especially if the sender was to also spread the coin buying out across multiple exchanges. Maybe it might account for the consistent daily transfer of several million dollars using Bitcoin that we've been seeing for many months now. I can't think of any feasible way of accounting for it within the trading volumes of the merchants who accept BTC, either now or in the past months that these volumes have been going over the network.
wachtwoord
Hero Member
*****
Offline Offline

Activity: 896



View Profile WWW

Ignore
January 06, 2013, 12:59:55 PM
 #4

There is only 100 million BTC worth produced so far, hard to get 80 million overnight..

Start with smaller transactions. The market cap of Bitcoin will increase to cope with the added demand and will balance out high enough to carry out transactions where there is demand for.

I'm guessing this payment is not a one time thing.

✰ Scared Money Don't Make No Money | PrimeDice.com | The New Way To Roll *Thread*
I now do Bitcoin consultancy! PM to discuss terms.
Selling my signature space! PM to discuss terms.
eeb227823edc2ef43867d2640d26615cb7a3b2194af128c97b5f64770d367ba4
Piper67
Hero Member
*****
Offline Offline

Activity: 868


View Profile

Ignore
January 06, 2013, 01:03:47 PM
 #5

There is only 100 million BTC worth produced so far, hard to get 80 million overnight..

At current prices.... That could easily change
TTBit
Hero Member
*****
Offline Offline

Activity: 1107


View Profile

Ignore
January 06, 2013, 05:10:01 PM
 #6

There is only 100 million BTC worth produced so far, hard to get 80 million overnight..

You only need to buy until you have $80M worth. If coins are $200 each when you buy the last one, you only need 400,000 coins.

good judgment comes from experience, and experience comes from bad judgment
kangasbros
Hero Member
*****
Offline Offline

Activity: 808


View Profile

Ignore
January 06, 2013, 07:09:20 PM
 #7

Buying the coin is not the problem, selling them is.

You first buy bitcoin for 80 million, price goes dramatically up. Maybe you want to soften the hit a bit and buy the coins using multiple channels during longer periods.

That will attract shitloads of speculators -> more liquidity -> easier time selling the coins.

Anyway if your alternative is using a plane filled with gold, even bitcoin should work better.

FreeMoney
Hero Member
*****
Offline Offline

Activity: 1246


Strength in numbers


View Profile WWW

Ignore
January 06, 2013, 07:35:35 PM
 #8

Seriously, if they wanted cash quickly a confiscated plane works pretty damn terribly.

You can't really currently say $80M worth of bitcoin please, since that is not well defined at all. You'd have to figure out how many coins you actually valued at around the same amount. I think right now $80M would be a super awkward mess and impossible if people were actually trying to get dollars quickly in a set amount, but $10M or so you could kind of work out, I'd prefer 400k BTC to $10M right now. I wouldn't be surprised though if in a year $1M value tx were not so bad and the outer limits was around $100M value.

Two and a half years ago it seemed similarly impossible to buy a car. Now a car's value dumped instantly on that one big exchange moves the price a few cents. You'll pay orders of magnitude more for registration in many states than you'll lose in the currency exchange.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
MysteryMiner
Hero Member
*****
Offline Offline

Activity: 826



View Profile

Ignore
January 06, 2013, 08:48:40 PM
 #9

1.5 tons of gold in cargo plane and did not properly calculate the route to Tehran without refueling that causes unnecessary risks? Are they stupid? They could have used Tu-95 that can fly from Moscow to Cuba without refueling if they have them in flying condition.

Iranian government is not stupid. More likely some drug cartels money or CIA black operation.

1LEaxxAh1LKFUvDKYVhiMEVAHRM7K5o7cF
wachtwoord
Hero Member
*****
Offline Offline

Activity: 896



View Profile WWW

Ignore
January 06, 2013, 09:15:19 PM
 #10

And drug cartels or the CIA is stupid?  Cheesy

BTW the flight was headed for Dubai, not Teheran (they think it's a diversion).


✰ Scared Money Don't Make No Money | PrimeDice.com | The New Way To Roll *Thread*
I now do Bitcoin consultancy! PM to discuss terms.
Selling my signature space! PM to discuss terms.
eeb227823edc2ef43867d2640d26615cb7a3b2194af128c97b5f64770d367ba4
cedivad
Hero Member
*****
Offline Offline

Activity: 630



View Profile

Ignore
January 06, 2013, 09:28:29 PM
 #11

This reminds me of dont know how many tons of gold lost with a single ship a couple of months ago... Impossible to be true.

My anger against what is wrong in the Bitcoin community is productive:
Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)
Hashfast.org - Wiki for screwed customers
DoomDumas
Hero Member
*****
Offline Offline

Activity: 602


Bitcoin forever !


View Profile WWW

Ignore
January 06, 2013, 09:32:37 PM
 #12

Buying the coin is not the problem, selling them is.

You first buy bitcoin for 80 million, price goes dramatically up. Maybe you want to soften the hit a bit and buy the coins using multiple channels during longer periods.

That will attract shitloads of speculators -> more liquidity -> easier time selling the coins.

Anyway if your alternative is using a plane filled with gold, even bitcoin should work better.

Indeed, BTC are easier than a plane filled with gold !  Even with the price varaition that may occur for that kind of large tx !

I advocate The Zeitgeist Movement
AcFPjxtwgCKA5nrVu9XsKzgpfEWLfVyCF4
giszmo
Hero Member
*****
Offline Offline

Activity: 1064


¡ɥɔʇɐʍ ʇsnɾ ˙ǝƃuɐɥɔ ɐuuoƃ s,ןɐǝɹ


View Profile WWW

Ignore
January 06, 2013, 10:50:38 PM
 #13

Indeed, BTC are easier than a plane filled with gold !  Even with the price varaition that may occur for that kind of large tx !

If the gold was for Iran, it maybe had to be gold for the demand of gold being huge there right now. It's pointless to discuss bitcoins as a perfect alternative if you don't know the purpose of the delivery.

wachtwoord
Hero Member
*****
Offline Offline

Activity: 896



View Profile WWW

Ignore
January 06, 2013, 11:19:26 PM
 #14

This is nothing more than speculation. The speculation was that it was a payment from an African nation to Iran. Therefore we are discussing that Bitcoin is more useful for wealth transfer than a plane with gold.

✰ Scared Money Don't Make No Money | PrimeDice.com | The New Way To Roll *Thread*
I now do Bitcoin consultancy! PM to discuss terms.
Selling my signature space! PM to discuss terms.
eeb227823edc2ef43867d2640d26615cb7a3b2194af128c97b5f64770d367ba4
evoorhees
Hero Member
*****
Offline Offline

Activity: 910


Democracy is the original 51% attack


View Profile WWW

Ignore
January 06, 2013, 11:47:17 PM
 #15

I think the point here is not that in this specific case it wouldn't made more sense to use Bitcoin (because, as stated, the market depth is still to small), but rather that Bitcoin is clearly superior to flying plane loads of metal across borders. The efficiency of moving money via BTC vs any other method is so clear.

In other words, we are seeing potential Bitcoin use-cases all around us, and it's simply a matter of time before potential use cases turn into real ones.

SatoshiDICE World's most popular Bitcoin game.
Seth Otterstad
Sr. Member
****
Offline Offline

Activity: 309



View Profile

Ignore
January 08, 2013, 05:36:14 AM
 #16

Bitcoin is clearly superior to flying plane loads of metal across borders

Let's estimate the cost of mining, storing, securing, and transporting the world's gold supply!

Seth Otterstad's Blog          @SethOtterstad on twitter          Seth on google+
Play poker at SealsWithClubs, the largest bitcoin poker room.  Bet sports almost vig-free at BTCsportsmatch
Wires to BitStamp.net from USA are credited in less than one day. .5% currency conversion rates for non-USD wires
gabbergabe
Jr. Member
*
Offline Offline

Activity: 42


Some songs just take you back..


View Profile WWW

Ignore
January 11, 2013, 08:25:36 AM
 #17

lol i love where this thread is heading

Check out my soundcloud and help support up and coming EDM artists like myself!!  soundcloud.com/killvisionseattle  and if you would like to donate and help support please do thank you so much!!!
15yVnpEZhDFX89EpvPc2s3qK5owNe8pihk
mjc
Sr. Member
****
Offline Offline

Activity: 476


Available on Kindle


View Profile WWW

Ignore
January 12, 2013, 05:55:41 AM
 #18

There is only 100 million BTC worth produced so far, hard to get 80 million overnight..

I'll sell them 1 BTC for 80 million problem solved.  :-) 

Kindle : Bitcoin Step by Step (2nd Ed) : http://www.amazon.com/Bitcoin-Step-by-ebook/dp/B00A1CUQQU
Kindle : Bitcoin Mining Step by Step : http://www.amazon.com/Bitcoin-Step-by-ebook/dp/B00A1CUQQU
Facebook :  https://www.facebook.com/BitcoinStepByStep     Twitter : @BitcoinSbS
gabbergabe
Jr. Member
*
Offline Offline

Activity: 42


Some songs just take you back..


View Profile WWW

Ignore
January 12, 2013, 10:08:53 AM
 #19

There is only 100 million BTC worth produced so far, hard to get 80 million overnight..

I'll sell them 1 BTC for 80 million problem solved.  :-) 

Is that a physical btc coin that is worth 80 million made out of gold where the BTC sighn spins like the blades on my ride??

Check out my soundcloud and help support up and coming EDM artists like myself!!  soundcloud.com/killvisionseattle  and if you would like to donate and help support please do thank you so much!!!
15yVnpEZhDFX89EpvPc2s3qK5owNe8pihk
marketersales
Member
**
Offline Offline

Activity: 112



View Profile

Ignore
January 12, 2013, 07:28:06 PM
 #20

I saw this on the news.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!