You don't understand... I already have a lot of money. I could invest 100,000 euros right now in cryptocurrencies... but I'm not even able to deposit 50 euros on the exchange sites, just to see if it works.
I don't want to use my imagination, I simply want to pay, trade, and withdraw quickly with benefits. This seems impossible in the current bitcoin economy. Mtgox and other exchanges may be the only places in the world that are unwilling to swallow my money! Hence I question the reality of the current bubble.
I don't think you're alone, which is why I think BTC is going to go up even faster once it's easier to acquire.
Hey Infuriating... calm down. You have good points and I agree that you're experiencing what is problematic with the whole thing, but it doesn't make it not viable. In fact it slows the momentum enough to make for a very interesting dynamic, as far as bubbles go. This is a bubble, but exactly because of these inefficiencies and assured scarcity, the bubble may yet be very young in regards to how far it has to run. You are still a mile ahead of a million other people who will be a week or a month behind you stuck in the same queue. BTC is up 900% since I started noticing it.
I have only been following BTC for a few months with any real focus. I have been primarily a commodities trader, broker, and advisor to a few institutional investors for the last~20 years, my whole adult life. I am not a Wall Streeter but have worked with that crowd (too) closely for a long time. The fact that I am just now showing up to the party means they will be coming around soon enough, whether to kill it or eat it, I don't know.
What I wish to do, has been done elsewhere already but again, this is early enough that to move quickly will capture market share and it addresses many (not all) of your issues in a way that would appeal to a broad public sector of players who want in without knowing what a hash is. The existing sites are not well designed for outside players so there is huge potential here.
Simply stated, a binary options platform, where traders position a trade based on where BTC will be tomorrow/next week/next month. Binary options are very simple, they pay or they do not. It is a way for owners of BTC to hedge downside risk and speculators to buy long positions without full cost of BTC out of pocket.
I know markets, better than anyone. What I know above all is transaction business is long term far more lucrative than speculating, especially in a bubble. You don't go to a gold rush to dig for gold, you go to sell shovels. Or if you prefer, going to a casino and owning a casino have very different odds.
By market making and providing initial liquidity on a binary option market, where people like you can just send money in and take money out, and position ahead of the tuna run headed this way.
I would like to partner with a person or maybe 2-3 persons who would be interested in such a project, if you or anyone here is interested drop me a line or reply... and if anybody wants to rip on it feel free, I know my sandbox pretty well.
cheers...
