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del
February 19, 2012, 07:37:46 PM
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del
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February 19, 2012, 07:43:55 PM
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how do this verification thing by bitcoinica will affect the price ?


Probably won't effect it that much in the short term. People with open positions that don't want to get verified will have to close, but this will be true for both shorts and longs. We probably have slightly more longs, so it might slightly decrease the price, but it won't be noticeable due to how volatile the market already is, even during "normal" times. In the long term? Nobody knows. It could attract big investors, since Bitcoin will look a whole lot less shady once stuff like this happens. In that case, it could cause an increase in price in the long run.

Still, these are just that, theories. Nobody knows for sure, but this is how I feel about the change.

www.bitbuy.nl - Koop eenvoudig, snel en goedkoop bitcoins bij Bitbuy!
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February 19, 2012, 08:00:30 PM
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how do this verification thing by bitcoinica will affect the price ?


It will affect volume as it removes some of the underage users from trading without their parents permission.

Introducing constraints to the economy only serves to limit what can be economical.
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February 19, 2012, 08:01:07 PM
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how do this verification thing by bitcoinica will affect the price ?


It will affect volume as it removes some of the underage users from trading without their parents permission.

Trading is not allowed for underage users? Sad

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February 19, 2012, 09:15:18 PM
 #5

how do this verification thing by bitcoinica will affect the price ?


It will affect volume as it removes some of the underage users from trading without their parents permission.

How many underage users do you think there are? How much money do you think they have?

Right, not many and not much.

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February 19, 2012, 09:47:50 PM
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How many underage users do you think there are? How much money do you think they have?

Right, not many and not much.

Let's find out.  Please vote.


Trading is not allowed for underage users? Sad

In many places, people under 18 cannot sign contracts.  They can open bank or investment accounts with their guardian's permission.  I don't know Bitcoinica's policy on this but if a Bitcoinica user needs verification of a mailing address using a bank statement or utility bill and the minor's guardians object to them having a bank account, then it would be difficult for a minor to have a Bitconica account. MtGox won't even allow bank statements for verification purposes.

Also, MtGox Terms of Service state:
Quote
By opening an account to use the Platform ("Account") Members represent and warrant:
         1.  they have accepted these Terms; and
         2.  they are at least 18 years of age and have the full capacity to accept these Terms and enter into a transaction resulting
         on the Platform

Introducing constraints to the economy only serves to limit what can be economical.
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February 19, 2012, 10:11:55 PM
 #7


How many underage users do you think there are? How much money do you think they have?

Right, not many and not much.

Let's find out.  Please vote.


Trading is not allowed for underage users? Sad

In many places, people under 18 cannot sign contracts.  They can open bank or investment accounts with their guardian's permission.  I don't know Bitcoinica's policy on this but if a Bitcoinica user needs verification of a mailing address using a bank statement or utility bill and the minor's guardians object to them having a bank account, then it would be difficult for a minor to have a Bitconica account. MtGox won't even allow bank statements for verification purposes.

Also, MtGox Terms of Service state:
Quote
By opening an account to use the Platform ("Account") Members represent and warrant:
         1.  they have accepted these Terms; and
         2.  they are at least 18 years of age and have the full capacity to accept these Terms and enter into a transaction resulting
         on the Platform

That poll is flawed for this purpose though. The question would have to be directed at traders at Bitcoinica, and not bitcoin users in general to find out how much of an effect a ban on underage traders might be. The poll also doesn't take into account how much money those users are actually trading. Underage users are probably trading for a lot less money than adults are. Then again, it's an interesting poll for other purposes and interesting Smiley

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February 20, 2012, 12:21:35 AM
 #8


How many underage users do you think there are? How much money do you think they have?

Right, not many and not much.

Let's find out.  Please vote.


Trading is not allowed for underage users? Sad

In many places, people under 18 cannot sign contracts.  They can open bank or investment accounts with their guardian's permission.  I don't know Bitcoinica's policy on this but if a Bitcoinica user needs verification of a mailing address using a bank statement or utility bill and the minor's guardians object to them having a bank account, then it would be difficult for a minor to have a Bitconica account. MtGox won't even allow bank statements for verification purposes.

Also, MtGox Terms of Service state:
Quote
By opening an account to use the Platform ("Account") Members represent and warrant:
         1.  they have accepted these Terms; and
         2.  they are at least 18 years of age and have the full capacity to accept these Terms and enter into a transaction resulting
         on the Platform

That's why I won't use Mt. Gox personally.

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February 20, 2012, 12:31:56 AM
 #9

Isn't Zhoutong himself 17? He is under the age limit.

Everyone is entitled to their own opinion. It's just that yours is stupid! =D
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February 20, 2012, 01:25:27 AM
 #10

Isn't Zhoutong himself 17? He is under the age limit.

Ironic huh?  He likely has guardian permission and his company is registered not him personally.

Introducing constraints to the economy only serves to limit what can be economical.
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