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Author Topic: These things would raise the value of bitcoin  (Read 1083 times)
Minsc
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September 06, 2011, 02:26:14 AM
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1) Right now Mt. Gox lets you trade cash for bitcoin, but only $500 a day mailed.  We need a service in big cities that will let someone buy much larger amounts.  Obviously it must be below $10,000 daily or those stupid CTRs would have to be filed.  See http://en.wikipedia.org/wiki/Currency_transaction_report http://en.wikipedia.org/wiki/Structuring http://en.wikipedia.org/wiki/Suspicious_activity_report

2) Sell cars for bitcoins plus $1 cash.  Report value of car sold for $1 cash, which saves the buyer a lot of money in government fees.  There's got to be a way to do this so it's legal.  Maybe $1 cash plus a flashdrive and the flash drive contains login to a Mt. Gox account with lots of bitcoins in it (this is easier than a bitcoin wallet because wallets require loading of around a gig of transaction data).

3) Same as #2 but for real estate.


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Bitcoin_Silver_Supply
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September 06, 2011, 02:43:04 AM
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1) Right now Mt. Gox lets you trade cash for bitcoin, but only $500 a day mailed.  We need a service in big cities that will let someone buy much larger amounts.  Obviously it must be below $10,000 daily or those stupid CTRs would have to be filed.  See http://en.wikipedia.org/wiki/Currency_transaction_report http://en.wikipedia.org/wiki/Structuring http://en.wikipedia.org/wiki/Suspicious_activity_report

2) Sell cars for bitcoins plus $1 cash.  Report value of car sold for $1 cash, which saves the buyer a lot of money in government fees.  There's got to be a way to do this so it's legal.  Maybe $1 cash plus a flashdrive and the flash drive contains login to a Mt. Gox account with lots of bitcoins in it (this is easier than a bitcoin wallet because wallets require loading of around a gig of transaction data).

3) Same as #2 but for real estate.



#2 and #3 would be grand, but don't expect them until long after a point of widespread market acceptance. No realtor or car dealer in his right mind is going to take a cold, hard look at BTC and say "you know what I could use more of in this market? Volatility!" It simply won't happen.

The problem with BTC is that it's being predominantly traded for USD as a commodity rather than as a stand-alone currency. I'm not sure if anything asides large growth in the underground economy can solve that short term.
Minsc
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September 06, 2011, 02:55:55 AM
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@Bitcoin_Silver_Supply

If I had the money, I would open businesses that do it right now.

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Stephen Gornick
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September 06, 2011, 04:47:22 AM
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1) Right now Mt. Gox lets you trade cash for bitcoin, but only $500 a day mailed.

Just to clarify, Mt. Gox does not accept cash.  There is a separate exchanger for this that the Mt. Gox site links to, Bitcoin Morpheus.

Those in the U.S. with cash can also go to a Wells Fargo or Chase bank and deposit larger amounts of cash for credit to their account with another exchange, ExchB.

Links:
 - http://en.bitcoin.it/wiki/Bitcoin_Morpheus
 - http://en.bitcoin.it/wiki/ExchB
 - http://en.bitcoin.it/wiki/MtGox
 - http://en.bitcoin.it/wiki/Buying_bitcoins

Minsc
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September 06, 2011, 04:52:52 AM
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@Stephen Gornick

Yeah, but if you deposit it in a bank, it leaves a record the IRS sees.  And anything over $3000 may get a suspicious activity report filed.

The usefulness of  buying bitcoins with lots of pure cash is no paper trail and that is what will get people coming in.

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ovidiusoft
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September 06, 2011, 05:51:13 AM
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I don't know how selling real estate works outside EU/Romania, but here, when you sell a house, the notary has an evaluation table that is used for tax purposes. If your declared value is less than that, you pay the value in the table, if it's more, you pay taxes to the value you declared. The table values are close enough to the real prices as to not have any incentive to lie. Who would risk years in jail for lying in a notarized contract to save a couple of euros?

No matter how you put it, 2 and 3 are illegal. I am in favor of changing the rules, not go around them. If taxes were lower and fair, nobody would think of ways to avoid paying them.
johnyj
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September 06, 2011, 05:09:01 PM
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There should be a group of people make very attractive things that only BTC can buy, and those people's life do not depend on selling these things, they do it as a pure hobby

I have tried selling some very useful things at ebay and state that user could pay BTC with a discount, but they don't even know what is that and how to pay, that is also a problem

Maybe one day, Iphone killer Uphone works much better than Iphone5, but only accept BTC payments ...


koin
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September 06, 2011, 08:43:38 PM
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Maybe one day, Iphone killer Uphone works much better than Iphone5, but only accept BTC payments ...

these are coming.  milk toad, or whatever that site is called has a model that seems to work.

there are other products which could only be sold similarly.  your iphone killer comes to mind.  manufacturer knockoffs that violate intellectual property would not be able to be offered anywhere else, but with an anonymous marketplace using bitcoin as the payment a lot becomes possible.

knockoffs of designer brands like prada, gucci, coach, and others sold on the market will generate interest in bitcoin with a segment that would otherwise be oblivious to bitcoin.

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