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Author Topic: Bitcoin Rally #2  (Read 4850 times)
S3052
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November 20, 2010, 06:20:24 PM
 #21

agree with the 2 words of Economic Growth

And this can work via  a twofold strategy:

1) enable more people to buy bitcoins in a very simple way
2) in parallel offer more and more ways to spend them

Currently, about 1000 people could have 4,600 bitcoins = 1,200$ each and this equals the entire amount of BTC and economy. This is jokingly small .

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November 20, 2010, 06:23:58 PM
 #22



1) enable more people to buy bitcoins in a very simple way

http://bitcointalk.org/index.php?topic=1812.0

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November 20, 2010, 06:34:34 PM
 #23

agree with the 2 words of Economic Growth

And this can work via  a twofold strategy:

1) enable more people to buy bitcoins in a very simple way
2) in parallel offer more and more ways to spend them

Currently, about 1000 people could have 4,600 bitcoins = 1,200$ each and this equals the entire amount of BTC and economy. This is jokingly small .

Of course they can't get them all at that price. The first 100 people will have pushed the price up considerably already, probably orders of magnitude.

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November 20, 2010, 06:44:08 PM
 #24

agree with the 2 words of Economic Growth

And this can work via  a twofold strategy:

1) enable more people to buy bitcoins in a very simple way
2) in parallel offer more and more ways to spend them

Currently, about 1000 people could have 4,600 bitcoins = 1,200$ each and this equals the entire amount of BTC and economy. This is jokingly small .

Of course they can't get them all at that price. The first 100 people will have pushed the price up considerably already, probably orders of magnitude.

Fully agree overall. My point was slightly different, though. I am thinking about the current owners of all available bitcoins (not if new users would try to buy them all which obviuosly would increase the price massively). If the current amount of 4,600,000 bitcoins would be owned by 1,000 people, they would on average have 4,600 coins onlyand they would be currently valued at about 1,200 $ each.

Obviously there are bigger and smaller "BTCholders", but may point was just to show that on the enture earth, only 1000 people would be able to buy something meaningful (like a new laptop for xmas with bitcoins). Or if its 10,000 people they can buy 1 nice toy  for 100$ each and then the entire bitcoin amount is spend.

that is my point: the purchasing power of bitcoins is so small right now that it has to increase at least 100 of not 1,000 fold to enable businesses to accept it.

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November 20, 2010, 06:47:54 PM
 #25

Oh, yeah, I agree. It only makes sense for small businesses/small sales now, but it will/is ramping up.

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November 20, 2010, 06:52:19 PM
 #26

I am sure it will ramp up.

But some efforts are needed to fulfill strategy 1: Get easy access to BTC. Someone has to step up and enable it fast before the momentum dies.

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November 21, 2010, 12:59:56 AM
 #27

I already proposed relatively easy access to bitcoins with direct Visa or Mastercard purchase using Liqpay or Moneybookers which is better then PayPal in terms of non-reversibility. But unfortunately people criticised both payment systems without suggesting better alternative  Sad
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November 21, 2010, 01:07:31 AM
 #28

I am sure it will ramp up.

But some efforts are needed to fulfill strategy 1: Get easy access to BTC. Someone has to step up and enable it fast before the momentum dies.


If one wireless cell phone company starts accepting it, then a lot of socially savvy, but not geekish, teens and young adults are going to start paying attention to it.  Once that demographic starts asking the other cell phone companies if they take it, they're going to either have to start accepting it to keep their customers or lobby to ban it.

I've already hit up my own cell provider about it, Virgin Mobile USA.

Also, suggest a bitcoin donation frame to your favorite blogger/online content provider/church/whatever.  It takes next to no effort or risk to start taking donations, and if their supporters are donating that way, they won't stop and others will notice the system eventually.  12% of the population is the 'mindshare' breaking point.  Once 12% of your target audience knows, in general, what Bitcoin is; you have hit the mainstream.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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November 21, 2010, 01:13:16 AM
 #29


Also, suggest a bitcoin donation frame to your favorite blogger/online content provider/church/whatever.  It takes next to no effort or risk to start taking donations, and if their supporters are donating that way, they won't stop and others will notice the system eventually.  12% of the population is the 'mindshare' breaking point.  Once 12% of your target audience knows, in general, what Bitcoin is; you have hit the mainstream.

12%? Where you get that number?

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November 21, 2010, 01:15:27 AM
 #30


Also, suggest a bitcoin donation frame to your favorite blogger/online content provider/church/whatever.  It takes next to no effort or risk to start taking donations, and if their supporters are donating that way, they won't stop and others will notice the system eventually.  12% of the population is the 'mindshare' breaking point.  Once 12% of your target audience knows, in general, what Bitcoin is; you have hit the mainstream.

12%? Where you get that number?

I can't remember, I've had that number rolling around my head for decades.  Some marketing textbook, I think.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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November 21, 2010, 01:17:40 AM
 #31

I already proposed relatively easy access to bitcoins with direct Visa or Mastercard purchase using Liqpay or Moneybookers which is better then PayPal in terms of non-reversibility. But unfortunately people criticised both payment systems without suggesting better alternative  Sad

I saw your proposal and didn't consider it "relatively easy".  Easier, perhaps, for some; but certainly not for me.  A stamp and evelope works fine, just takes much longer than most are willing to wait.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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November 21, 2010, 01:28:41 AM
 #32

I already proposed relatively easy access to bitcoins with direct Visa or Mastercard purchase using Liqpay or Moneybookers which is better then PayPal in terms of non-reversibility. But unfortunately people criticised both payment systems without suggesting better alternative  Sad

I saw your proposal and didn't consider it "relatively easy".  Easier, perhaps, for some; but certainly not for me.  A stamp and evelope works fine, just takes much longer than most are willing to wait.

Until the USPS decides to "oops, I lost it."

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November 21, 2010, 01:34:35 AM
 #33

yes, you can send your money by snailmail but you can't buy/sell with this method more then 100$  Wink
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November 21, 2010, 01:36:33 AM
 #34

yes, you can send your money by snailmail but you can't buy/sell with this method more then 100$  Wink

That's not a issue for me.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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November 21, 2010, 02:30:27 AM
 #35

This needs a provider who has bank accounts in lots of countries that people can deposit too. This way people can log into their internet bank of choice and simply transfer money to the right bank account and receive bitcoins at the address they add to the payment details.


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November 21, 2010, 02:35:04 AM
 #36

This needs a provider who has bank accounts in lots of countries that people can deposit too.



This is difficult for a single person to be able to do, since individual bank accounts usually require some proof of residence and business bank accouts have an overhead.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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November 21, 2010, 03:22:07 AM
 #37

This needs a provider who has bank accounts in lots of countries that people can deposit too.



This is difficult for a single person to be able to do, since individual bank accounts usually require some proof of residence and business bank accouts have an overhead.

Currently it would be enough to have couple of persons with personal bank account in each country to make it easier for people from the same country to buy/sell bitcoins with netbank. BTW I can propose for this purpose my acc in Denmark.
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November 21, 2010, 03:48:33 AM
 #38

This needs a provider who has bank accounts in lots of countries that people can deposit too.



This is difficult for a single person to be able to do, since individual bank accounts usually require some proof of residence and business bank accouts have an overhead.


Well I am in Australia and have a bank account. Anyone wanting to use bpay can contact me. I can also do cash in the mail within Australia .

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November 21, 2010, 04:38:56 AM
 #39

I was investigating this company as a possibilityhttp://www.technocash.com/ 

I would need to setup a company in Australia which I would do here http://www.incorporator.com.au/home.asp

The cost to do so is $295 retail account establishment at technocash and $610 for company setup fees. Then getting enough bitcoins to make it liquid  and setting up a secure website. It could be done if some investors stepped up and wanted to fund it. The investors who did so would then be able to access the site and trade bitcoins easily. Any new traders who wanted to join could then be charged an establishment fee to help support the site.

http://www.technocash.com/pages/bank_details.cfm support the following currencies -
$USD   
 €EUR   
 £GBP   
$AUD   
$NZD   
$CAD   
$HKD   
$SGD   
¥JPY   
DKK   
NOK   
SEK   
VATU

Another possibility to add is https://trans-xpress.com/session who let you use your bank account and offer debit cards to withdraw. They are a bit cheaper than liberty reserve.

I think someone is going to have to do something like this to let new users easily access bitcoin or it will stall. Certainly paying from your bank account would make it more secure and less open to fraud than using credit cards.






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November 21, 2010, 04:53:06 AM
 #40

I was investigating this company as a possibilityhttp://www.technocash.com/ 

I would need to setup a company in Australia which I would do here http://www.incorporator.com.au/home.asp

The cost to do so is $295 retail account establishment at technocash and $610 for company setup fees. Then getting enough bitcoins to make it liquid  and setting up a secure website. It could be done if some investors stepped up and wanted to fund it. The investors who did so would then be able to access the site and trade bitcoins easily. Any new traders who wanted to join could then be charged an establishment fee to help support the site.

http://www.technocash.com/pages/bank_details.cfm support the following currencies -
$USD   
 €EUR   
 £GBP   
$AUD   
$NZD   
$CAD   
$HKD   
$SGD   
¥JPY   
DKK   
NOK   
SEK   
VATU

Another possibility to add is https://trans-xpress.com/session who let you use your bank account and offer debit cards to withdraw. They are a bit cheaper than liberty reserve.

I think someone is going to have to do something like this to let new users easily access bitcoin or it will stall. Certainly paying from your bank account would make it more secure and less open to fraud than using credit cards.


I'm interested as an investor. Please PM or e-mail me your proposal in detail when you find more partners.
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