Rally is starting

[jimbobway]

My bread and butter job is doing English and quality systems (mainly HACCP and IFS with a bit of six-sigma thrown in for good measure) training for a range of different companies here and designing courses and materials for use as supplementary coursebooks in public schools from grades 1-12.

Apart from that I do product sourcing and quality inspections for a couple of European companies from here mainly seeds, nuts and that kind of foodstuffs. As Dalian happens to be a fairly large transit hub for that kind of product. This is NOT a very lively business atm.

As to my own business I do a tiny bit in different types of handmade paper for specialty artists supply shops mainly in Scandinavia atm.

What bitcoin has enabled me to do is to take quite a few extra contracts where I suddenly have to jump all over China to do onsite inspections. I've had companies pay me retainers or upfront expenses in bitcoin instead of waiting for SWIFT to get it's act together. This is usually done using personal $$ by some of their staff and I haven't got a clue as to how they put it on their books.

The last contract I did of this type was for a small German bakery-wholesalers that had a container of sunflower seeds that the shipper found an infestation in (yup bugs). I got paid an advance of 280BTC to cover airfare etc. and then I jumped on a plane to Qingdao looked at the container and declared it good to go with the addition of a fumigant.

The advantage for the client here is that I could go with 2 hours notice, I made a killing (by local standards) for an afternoons work. And they saved 10X the amount on non paid demurage compared with going via SWIFT or sending someone out from back home (in this case probably more savings). This is make or break money for lots of small-medium businesses.

It's not something that I'll get rich of but simply the value of this service compared with the banking system should push the price of bitcoin WAY past it's current levels.

This is probably not applicable on a large scale yet, as lots of companies need bitcoins to become legal something for them to be able to put this kind of expenses properly on their books. The handful of companies that I'm currently dealing with have know and dealt with me for years and are willing to bend the rules a little to get win-win deals.

This is a great post of bitcoin being used in real life.  Thanks for sharing.

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[speeder]

Awesome!

See? Bitcoin is really usefull...

Thus, Rally IS starting!

GO GO GO!

[mp420]

Hm, Bitcoin is not exacly faring better than USD at the moment, but it seems to hold its value against EUR fairly well. This latest drop in the USD/BTC might actually signify the strengthening of US dollar rather than weakening of BTC, in the grand scale of things.

[JL421]

Hm, Bitcoin is not exacly faring better than USD at the moment, but it seems to hold its value against EUR fairly well. This latest drop in the USD/BTC might actually signify the strengthening of US dollar rather than weakening of BTC, in the grand scale of things.

The USD is gaining some strength as of late; however, this does nothing for the average consumer, in terms of prices of things lowering, so to an average person looking at bitcoin for the first time, it looks like bitcoin is loosing value...

[grod]

Hm, Bitcoin is not exacly faring better than USD at the moment, but it seems to hold its value against EUR fairly well. This latest drop in the USD/BTC might actually signify the strengthening of US dollar rather than weakening of BTC, in the grand scale of things.

The USD is gaining some strength as of late; however, this does nothing for the average consumer, in terms of prices of things lowering, so to an average person looking at bitcoin for the first time, it looks like bitcoin is loosing value...

Yup, the dollar vs euro doesn't affect my power bill.  As far as I'm concerned it's only another $.7 "rally to the downside" to go until most of the US is in the unprofitable to mine with existing GPUs camp.

By this time next month we should see if people believe in bitcoin and will stop mining to buy it (which has downsides of its own) or if they, like me, only got in for the free computer hardware.

[panerai]

its a good time to buy!

[netrin]

Thanks Bigpiggy01 for t.h..a....

Holy shit

[wobber]

Are we starting a rally after the double bottom?

[Minsc]

Rally!