Vycid
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♫ the AM bear who cares ♫
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December 03, 2013, 09:15:28 PM |
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Recently, Bitcoin market cap (i.e. total value of all Bitcoins issued) reached the $2 billion mark, surpassing small countries like Liberia and Guinea. This should have been obvious.
isn't it $20 billion? The authority for this is http://www.coinometrics.com/bitcoin/bmixGo to the bottom of the page and select Full Data Table Bitcoin is currently 71 in the world (out of 191 countries) between azerbijan and lithuania burma at 12 million? okay, who wants to go in with me and buy burma? Hmm, you know what, that's actually an interesting proposition. It's probably hard to buy a country using national fiat currencies, no matter how rich you are, but with bitcoins... you just might be able to do it (i.e., pay out the government + military to leave the country / hand over control). Maybe we will see a brave new world of corporations taking over nations now that they have a financial vehicle with which to do it. I know these comparisons are tongue-in-cheek, but just for those who are confused as far as I can figure you couldn't buy a country for its GDP. I mean, even if you COULD buy a country... you couldn't buy it for its GDP. It wouldn't cost that little. That would be like buying a company for its earnings. But as we all know stocks trade for a PE multiple. Makes sense because you are buying ALL future earnings output, not just one year. So I think a PE of 10 would be ok esp. for these underperforming countries... So Burma could go for 120million... that's way too... well... hmm... So, what... ~100,000 BTC? How 'bout we rename it Bitopia?
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solex
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100 satoshis -> ISO code
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December 03, 2013, 09:16:04 PM |
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Recently, Bitcoin market cap (i.e. total value of all Bitcoins issued) reached the $2 billion mark, surpassing small countries like Liberia and Guinea. This should have been obvious.
isn't it $20 billion? The authority for this is http://www.coinometrics.com/bitcoin/bmixGo to the bottom of the page and select Full Data Table Bitcoin is currently 71 in the world (out of 191 countries) between azerbijan and lithuania burma at 12 million? okay, who wants to go in with me and buy burma? Hmm, you know what, that's actually an interesting proposition. It's probably hard to buy a country using national fiat currencies, no matter how rich you are, but with bitcoins... you just might be able to do it (i.e., pay out the government + military to leave the country / hand over control). Maybe we will see a brave new world of corporations taking over nations now that they have a financial vehicle with which to do it. I know these comparisons are tongue-in-cheek, but just for those who are confused as far as I can figure you couldn't buy a country for its GDP. I mean, even if you COULD buy a country... you couldn't buy it for its GDP. It wouldn't cost that little. That would be like buying a company for its earnings. But as we all know stocks trade for a PE multiple. Makes sense because you are buying ALL future earnings output, not just one year. So I think a PE of 10 would be ok esp. for these underperforming countries... So Burma could go for 120million... that's way too... well... hmm... These comparisons are monetary base: cash in circulation. So Burma's $12 billion is a fraction of GDP and that is a fraction of national assets. Also coinometrics uses data from the CIA factbook, which clearly has major issues, probably produced by CIA chair-polishing nitwits - as the UK monetary base is shown to be the size of Belgium's which is like saying North Dakota has as much money as New York.
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Richy_T
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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
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December 03, 2013, 09:17:22 PM |
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Now, multinationals can just threaten to pack up and leave if they are legislated against. For really big companies, that could devastate a country's economy.
These companies might end up either propping up friendly puppet states, or simply abolishing them and raising their own police forces and militaries, laying their own roads, etc.
This future isn't a foregone conclusion but the trends do point clearly clearly in that direction.
I sorta want to write a novel about it...
Definitely coming. The US is getting ever more oppressive in its tax policies. Not particularly in the rates (though that is an issue) but in the laws and intrusive practices. It's very hostile out there and even small-time individuals are subject to risks of crazy penalties for not jumping through byzantine hoops currently. The US treats its citizens as its property.
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mmitech
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things you own end up owning you
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December 03, 2013, 09:18:16 PM |
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where do you think he will sell that amount of Bitcoin, all exchanges are AML and KYC compliants even BTC-e is, when he deposit them to the exchange they will bust his ass
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Vycid
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♫ the AM bear who cares ♫
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December 03, 2013, 09:18:51 PM |
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Old news, it's priced in. What a load of nonsense, priced into what? The price in your head? The effects are when it's cashed out and the ramifications to the market as 96,000 coins sold either in bulk, or bit by bit, its going to be noticed. it's priced in.
4.5% of all bitcoins ever to exist are acquired by a single scammer and prices are 93% of the ATH. That's not priced in. Do you even informational efficiency, bro?
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Richy_T
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1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
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December 03, 2013, 09:19:22 PM |
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ElectricMucus
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December 03, 2013, 09:20:00 PM |
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where do you think he will sell that amount of Bitcoin, all exchanges are AML and KYC compliants even BTC-e is, when he deposit them to the exchange they will bust his ass
BTC-e compliant, lol
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ElectricMucus
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December 03, 2013, 09:20:36 PM |
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Syke
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December 03, 2013, 09:21:18 PM |
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where do you think he will sell that amount of Bitcoin, all exchanges are AML and KYC compliants even BTC-e is, when he deposit them to the exchange they will bust his ass
Unless he uses a coin mixer first.
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mmitech
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things you own end up owning you
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December 03, 2013, 09:25:03 PM |
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where do you think he will sell that amount of Bitcoin, all exchanges are AML and KYC compliants even BTC-e is, when he deposit them to the exchange they will bust his ass
BTC-e compliant, lol believe it or not yes you cannot deposit or withdraw FIAT without providing an issued ID by your government and a prove of residence
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ElectricMucus
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December 03, 2013, 09:26:55 PM |
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where do you think he will sell that amount of Bitcoin, all exchanges are AML and KYC compliants even BTC-e is, when he deposit them to the exchange they will bust his ass
BTC-e compliant, lol believe it or not yes you cannot deposit or withdraw FIAT without providing an issued ID by your government and a prove of residence I did just that several times.
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niothor
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December 03, 2013, 09:29:21 PM |
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where do you think he will sell that amount of Bitcoin, all exchanges are AML and KYC compliants even BTC-e is, when he deposit them to the exchange they will bust his ass
BTC-e compliant, lol believe it or not yes you cannot deposit or withdraw FIAT without providing an issued ID by your government and a prove of residence But does one verify the accuracy of those id's? I fail to remember the price but you could buy lots of fake id's form every nation on SR.
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maz
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December 03, 2013, 09:30:57 PM |
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where do you think he will sell that amount of Bitcoin, all exchanges are AML and KYC compliants even BTC-e is, when he deposit them to the exchange they will bust his ass
BTC-e compliant, lol believe it or not yes you cannot deposit or withdraw FIAT without providing an issued ID by your government and a prove of residence But does one verify the accuracy of those id's? I fail to remember the price but you could buy lots of fake id's form every nation on SR. Life in the penitentiary for Mr Ulbricht.
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Walsoraj
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December 03, 2013, 09:31:19 PM |
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BTCe will get shut down eventually and probably take the entire altcoin scene with it.
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sedric398
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December 03, 2013, 09:32:43 PM |
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Btc-e asks for verification only on wire transfers, if you use one of the other methods that won't be necessary.
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lucas.sev
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December 03, 2013, 09:39:01 PM |
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just withdraw 200 at a time and then use tumbler.
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macsga
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Strange, yet attractive.
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December 03, 2013, 09:44:52 PM |
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Chances are he/she/they will try to do it via localbitcoins... which could kinda suck - the amount is ENORMOUS even at these "small" prices of BTCs nowadays. The only "sane" method to sell them is to do it via "laundering" which is doable even for BTC (for the right price). A pretty decent method is being referred here: http://en.wikipedia.org/wiki/Money_laundering Actually it may as well already started. Maybe he/she/they already had an exchange account (or one in every exchange) and already is/are in the process of liquidating... Could you tell why the price is sustained at 1150-1200 today with all the fiat in the exchanges? Couldn't be the one for the deep dive within the weekend? Are we sure it was *ONLY* 96K of BTCs? Hmmm...
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ElectricMucus
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December 03, 2013, 09:48:07 PM |
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BTCe will get shut down eventually and probably take the entire altcoin scene with it.
By whom?
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Walsoraj
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December 03, 2013, 09:52:11 PM |
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just withdraw 200 at a time and then use tumbler. ^ this guy sounds awfully suspicious. Let's not rule him out as the culprit.
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