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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1804725 times)
Erdogan
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March 29, 2015, 03:03:26 PM
 #22341

Here is my thoughts on bitcoin powered remittance:

Stage 1 is companies in each country cooperating with each other to offer transfer and conversion between two fiats. Each company can be local to a country, does not need license to do foreign exchange. They can be an exchange, or work with a local exchange. They can offer short time fixed exchange rate gurarantee through options, cooperation with someone offering options, or just make a deal with a few individuals who offer to take that exhange rate risk. No single company has to be an international company. They can offer transfer fiat to fiat.

Stage 2 is when one party in the remittance transfer is a bitcoin user. In this case, only one local company need to be involved. For instance, a sender in Europe is a bitcoin user, the receiver somewhere in Asia is a fiat user. The bitcoin user transfers fiat to to a local company in Asia operating as an exchange, who sends fiat to the receiver. For this to work, bitcoin adoption has to increase among the foreign workers.

Stage 3 is of course when both parties are bitcoin users, who do not need to convert to fiat right away, but will do it when they need to.

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cypherdoc
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March 29, 2015, 03:13:10 PM
 #22342

Here is my thoughts on bitcoin powered remittance:

Stage 1 is companies in each country cooperating with each other to offer transfer and conversion between two fiats. Each company can be local to a country, does not need license to do foreign exchange. They can be an exchange, or work with a local exchange. They can offer short time fixed exchange rate gurarantee through options, cooperation with someone offering options, or just make a deal with a few individuals who offer to take that exhange rate risk. No single company has to be an international company. They can offer transfer fiat to fiat.

Stage 2 is when one party in the remittance transfer is a bitcoin user. In this case, only one local company need to be involved. For instance, a sender in Europe is a bitcoin user, the receiver somewhere in Asia is a fiat user. The bitcoin user transfers fiat to to a local company in Asia operating as an exchange, who sends fiat to the receiver. For this to work, bitcoin adoption has to increase among the foreign workers.

Stage 3 is of course when both parties are bitcoin users, who do not need to convert to fiat right away, but will do it when they need to.



http://cointelegraph.com/news/113814/bitcoin-and-m-pesa-what-stands-between-them
Erdogan
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March 29, 2015, 03:23:32 PM
 #22343

Here is my thoughts on bitcoin powered remittance:

Stage 1 is companies in each country cooperating with each other to offer transfer and conversion between two fiats. Each company can be local to a country, does not need license to do foreign exchange. They can be an exchange, or work with a local exchange. They can offer short time fixed exchange rate gurarantee through options, cooperation with someone offering options, or just make a deal with a few individuals who offer to take that exhange rate risk. No single company has to be an international company. They can offer transfer fiat to fiat.

Stage 2 is when one party in the remittance transfer is a bitcoin user. In this case, only one local company need to be involved. For instance, a sender in Europe is a bitcoin user, the receiver somewhere in Asia is a fiat user. The bitcoin user transfers fiat to to a local company in Asia operating as an exchange, who sends fiat to the receiver. For this to work, bitcoin adoption has to increase among the foreign workers.

Stage 3 is of course when both parties are bitcoin users, who do not need to convert to fiat right away, but will do it when they need to.



http://cointelegraph.com/news/113814/bitcoin-and-m-pesa-what-stands-between-them

Yep, in my categorization, M-Pesa is a local fiat (or local fiat equivalen or extension) and bitpesa is one of the local companies in stage 1 or stage 2.

cypherdoc
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March 29, 2015, 04:42:22 PM
 #22344

Here is my thoughts on bitcoin powered remittance:

Stage 1 is companies in each country cooperating with each other to offer transfer and conversion between two fiats. Each company can be local to a country, does not need license to do foreign exchange. They can be an exchange, or work with a local exchange. They can offer short time fixed exchange rate gurarantee through options, cooperation with someone offering options, or just make a deal with a few individuals who offer to take that exhange rate risk. No single company has to be an international company. They can offer transfer fiat to fiat.

Stage 2 is when one party in the remittance transfer is a bitcoin user. In this case, only one local company need to be involved. For instance, a sender in Europe is a bitcoin user, the receiver somewhere in Asia is a fiat user. The bitcoin user transfers fiat to to a local company in Asia operating as an exchange, who sends fiat to the receiver. For this to work, bitcoin adoption has to increase among the foreign workers.

Stage 3 is of course when both parties are bitcoin users, who do not need to convert to fiat right away, but will do it when they need to.



http://cointelegraph.com/news/113814/bitcoin-and-m-pesa-what-stands-between-them

Yep, in my categorization, M-Pesa is a local fiat (or local fiat equivalen or extension) and bitpesa is one of the local companies in stage 1 or stage 2.



Coin.ph is really cranking it.  from what i understand, the delivery is almost instant as they keep BTC  and fiat stores on hand in both locations.  that seems to be the best and most efficient way to speed the process.

Bitcoin eliminates the transmit process compared to traditional means.
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March 29, 2015, 10:25:27 PM
 #22345

it's spreading:

http://www.deepdotweb.com/2014/10/07/african-countries-set-pioneer-bitcoin-system/
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March 29, 2015, 10:45:56 PM
 #22346

https://www.reddit.com/r/CryptoAnarchy/comments/30oj5r/daniel_krawisz_this_is_whats_going_to_work_so/
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March 29, 2015, 11:02:09 PM
 #22347


this is bitcoin. legacy.
brg444
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Bitcoin replaces central, not commercial, banks


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March 29, 2015, 11:37:24 PM
 #22348

Here is my thoughts on bitcoin powered remittance:

Stage 1 is companies in each country cooperating with each other to offer transfer and conversion between two fiats. Each company can be local to a country, does not need license to do foreign exchange. They can be an exchange, or work with a local exchange. They can offer short time fixed exchange rate gurarantee through options, cooperation with someone offering options, or just make a deal with a few individuals who offer to take that exhange rate risk. No single company has to be an international company. They can offer transfer fiat to fiat.

Stage 2 is when one party in the remittance transfer is a bitcoin user. In this case, only one local company need to be involved. For instance, a sender in Europe is a bitcoin user, the receiver somewhere in Asia is a fiat user. The bitcoin user transfers fiat to to a local company in Asia operating as an exchange, who sends fiat to the receiver. For this to work, bitcoin adoption has to increase among the foreign workers.

Stage 3 is of course when both parties are bitcoin users, who do not need to convert to fiat right away, but will do it when they need to.



As far as I'm concerned Abra Global has nailed it down for the remittance use case.

I personally use rebit.ph on a regular basis and they are an exceptional service. 0% fee. Same day delivery.

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
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March 30, 2015, 12:53:15 AM
 #22349

This is new - bank deposit tax in Australia

http://www.zerohedge.com/news/2015-03-29/australia-start-taxing-bank-deposits

also in relation found this on Australian news site

http://www.smh.com.au/business/dynamic-currency-conversion--robbery-by-choice-20150329-1ma77q.html

Banks are charging big fees for overseas CC purchases and not bothering to inform customers which option increases fees (pay in local or Australian dollars).
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March 30, 2015, 12:55:09 AM
 #22350

Banks are charging big fees for overseas CC purchases and not bothering to inform customers which option increases fees (pay in local or Australian dollars).

does this apply to US citizens traveling abroad?
tabnloz
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March 30, 2015, 01:34:31 AM
 #22351

Banks are charging big fees for overseas CC purchases and not bothering to inform customers which option increases fees (pay in local or Australian dollars).

does this apply to US citizens traveling abroad?

not sure, might just be Australian banks doing so? Although I assume its an industry thing. Dynamic currency conversion, one to read up on.
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March 30, 2015, 02:48:05 AM
 #22352

bad news for the USD:

http://www.cnbc.com/id/102543220
cypherdoc
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March 30, 2015, 03:02:19 AM
 #22353

still healthy growth.  amazing:

lunarboy
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March 30, 2015, 04:10:08 AM
 #22354

Banks are charging big fees for overseas CC purchases and not bothering to inform customers which option increases fees (pay in local or Australian dollars).

does this apply to US citizens traveling abroad?

this has been happening for many years now. For all UK banks and overseas cash withdrawals, and most card transactions.
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March 30, 2015, 04:35:58 AM
 #22355

Bitt just secured $1.5 million to bring Bitcoin to the Caribbean's unbanked

However:

If you're a resident of one of the following countries, you will be restricted from accessing Bitt services.

Burma
Cuba
Iran
North Korea
Sudan
Syria
United States <--You are a  bunch of terrorists by the looks of it

Congratulations USS of A.

https://www.bitt.com/privacy/aml
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March 30, 2015, 06:25:46 AM
 #22356

still healthy growth.  amazing:



we crossed 400PH..



why am i not having the same graph anyway?

https://blockchain.info/en/charts/hash-rate
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March 30, 2015, 07:49:43 AM
 #22357


we crossed 400PH..



why am i not having the same graph anyway?

https://blockchain.info/en/charts/hash-rate

click on the "7 day average" link at bottom and you'll get it.

Bitcoin is a participatory system which ought to respect the right of self determinism of all of its users - Gregory Maxwell.
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March 30, 2015, 10:27:00 AM
 #22358

Ok, gold down. This should help stabilize Bitcoin. Time for a trend change.
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March 30, 2015, 12:24:48 PM
 #22359


Are slides' talk available somewhere?

Bitcoin is a participatory system which ought to respect the right of self determinism of all of its users - Gregory Maxwell.
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March 30, 2015, 02:37:33 PM
 #22360

it's difficult for me to see how the $DJT gets all the way back up to set a new high from here and at this time.  and if it doesn't, then yes, i do think that's a problem:

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