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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1805106 times)
kehtolo
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July 01, 2014, 09:16:26 AM
 #9041

Germany has decided its gold is safe in American hands.

fucking german pussies!

(I'm german, so I'm allowed, right?)

We will see if they are so "pussy" as you believe when they face France the next Fryday  Cheesy, my bets are for France so i hope you are right

looking for a trustable bitcoin-based sports book so I can put money where my mouth is. any suggestions? 2 years ago I used anonibet, but not sure they're even still around.

Check xbet.io
Decentralized betting using the counterparty protocol. Completely removes the trust requirement as the funds are escrowed by the protocol. It does require a wallet at counterwallet.co though (blockchain style wallet, so nothing stored on their servers)

Anonibet are still going.. in fact they are now a member of the BF - and if i remember correctly - they've recently won a prize from the BF for being the best BTC company through the world cup, or something like that.

Here's a link to coindesk: http://www.coindesk.com/anonibet-talks-bitcoin-foundation-membership-world-cup-contest/

The last 24 hours were critical but the next 24 hours are criticaller!
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cypherdoc
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July 01, 2014, 09:25:13 AM
 #9042

Newegg is fricking huge.

it has to be the biggest company to date right?
kehtolo
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July 01, 2014, 09:27:33 AM
 #9043

Newegg is fricking huge.

it has to be the biggest company to date right?

Probably.. it's the one that makes the most sense to me, at least. BTC + Techies / Computer components, it's almost a no brainer.

The last 24 hours were critical but the next 24 hours are criticaller!
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July 01, 2014, 09:31:05 AM
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Newegg is fricking huge.

it has to be the biggest company to date right?

Dish is bigger by revenue,  According to Forbes Revenue in 2012 was $2.8bn, Dish's Revenue the same year was $13bn.
Newegg is a private company so a lot of their financials are hidden.

http://www.forbes.com/companies/newegg/
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July 01, 2014, 09:32:24 AM
 #9045

Newegg is fricking huge.

it has to be the biggest company to date right?

Probably.. it's the one that makes the most sense to me, at least. BTC + Techies / Computer components, it's almost a no brainer.

Yep the circle is closing rapidly.
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July 01, 2014, 09:37:58 AM
 #9046

it just goes to show you that BitPay and Coinbase were not bull shitting when they said 2014 was going to be filled with major merchant adoption announcements.

i think that Barry Silbert will also be shown not to be bull shitting about 2014.
kehtolo
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July 01, 2014, 09:58:08 AM
 #9047

It's this kind of news that I see as a big deal. Not using payment processors, keeping the bitcoins.

http://www.coindesk.com/singapore-architecture-design-firm-accept-keep-bitcoins/

There was a theory floating about that said, using bitpay etc. actually does nothing for the bitcoin community, as it creates selling presure whenever a merchant accepts bitcoin as a means of payment, the btc is converted almost immediately into fiat.

It's forward thinking companies like the one in the article who will spearhead the second phase of merchant adoption. i.e. - keeping the bitcoins for B2B transactions.

The last 24 hours were critical but the next 24 hours are criticaller!
marcus_of_augustus
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July 01, 2014, 11:01:02 AM
 #9048

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keeping the bitcoins for B2B transactions

ding, ding ... these will be the winners.

kodtycoon
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July 01, 2014, 12:49:39 PM
 #9049

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keeping the bitcoins for B2B transactions

ding, ding ... these will be the winners.

do you guys know if there is the infrastructure there for B2B payments? as far as i know, all payment processors dont allow payments to be taken as btc and held as btc instead of converting to usd.

"Pioneering a revolutionary novel consensus mechanism called proof of importance."
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July 01, 2014, 01:08:37 PM
 #9050

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keeping the bitcoins for B2B transactions

ding, ding ... these will be the winners.

do you guys know if there is the infrastructure there for B2B payments? as far as i know, all payment processors dont allow payments to be taken as btc and held as btc instead of converting to usd.
Bitcoin will do for the B2B Financial Services industry what SOAP/XML and Web Services did for the B2B E-Commerce and B2C industries.
kehtolo
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July 01, 2014, 01:17:36 PM
 #9051

Quote
keeping the bitcoins for B2B transactions

ding, ding ... these will be the winners.

do you guys know if there is the infrastructure there for B2B payments? as far as i know, all payment processors dont allow payments to be taken as btc and held as btc instead of converting to usd.

The point is you don't need a payment processor at all! Just get your accounting dept. to transfer the btc balance to a given address.
Simple wallet to wallet transaction. A to B with no C.

The last 24 hours were critical but the next 24 hours are criticaller!
kodtycoon
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July 01, 2014, 01:23:07 PM
 #9052

Quote
keeping the bitcoins for B2B transactions

ding, ding ... these will be the winners.

do you guys know if there is the infrastructure there for B2B payments? as far as i know, all payment processors dont allow payments to be taken as btc and held as btc instead of converting to usd.

The point is you don't need a payment processor at all! Just get your accounting dept. to transfer the btc balance to a given address.
Simple wallet to wallet transaction. A to B with no C.

true, but would they not need some type of automated book keeping system doing the transactions through bitcoin wallets? so business a wants to pay business b 100 dollars, the person making payments on the system only needs to type in 100, select business B to pay them, system enters the paymet address for business B and the amount of btc that represents 100 dollars, sends from business A to B, then enters a record into a database for the businesses book keeping and for future reference of payments ect. it wouldnt be feasable for companies to simply use a btc wallet. it would 10x their work load.

with a system that runs a btc wallet in the background out of site, you could use it to automate payments from the system. you couldnt expect a company to manually do monthly/weekly transactions every week manually. and with btc not having automated transactions/turing complete built into the core it would have to be built on top using a 3rd party system. this is what i was wondering if it exists.

so really my end point is, with bitcoin atleast, you would need a payment processor, even when its B2B btc payments with out the need for usd.

"Pioneering a revolutionary novel consensus mechanism called proof of importance."
cypherdoc
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July 01, 2014, 01:36:32 PM
 #9053

It's this kind of news that I see as a big deal. Not using payment processors, keeping the bitcoins.

http://www.coindesk.com/singapore-architecture-design-firm-accept-keep-bitcoins/

There was a theory floating about that said, using bitpay etc. actually does nothing for the bitcoin community, as it creates selling presure whenever a merchant accepts bitcoin as a means of payment, the btc is converted almost immediately into fiat.

It's forward thinking companies like the one in the article who will spearhead the second phase of merchant adoption. i.e. - keeping the bitcoins for B2B transactions.


that theory is bogus.

i don't think there is any company in the space who's done more for bitcoin than Bitpay. they've facilitated adoption from the beginning and we wouldn't be nearly as big as we are without them.  they were the pioneers in that area.  what they facilitated was monetary velocity which is critical for any currency, new or old. it doesn't matter if the merchant wanted Bitpay to sell them immediately. there had to be a buyer anyways and the sales are offloading those coins to new holders that value those coins more highly than the merchants. another way to describe it is liquidity. allowing usage of the coins is important.

it's also great that this firm is holding them. they're helping to close the loop. and this isn't double speak from me. what's important is that aggregate demand is increasing throughout the space.
Trader Steve
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July 01, 2014, 01:40:07 PM
 #9054

It's this kind of news that I see as a big deal. Not using payment processors, keeping the bitcoins.

http://www.coindesk.com/singapore-architecture-design-firm-accept-keep-bitcoins/

There was a theory floating about that said, using bitpay etc. actually does nothing for the bitcoin community, as it creates selling presure whenever a merchant accepts bitcoin as a means of payment, the btc is converted almost immediately into fiat.

It's forward thinking companies like the one in the article who will spearhead the second phase of merchant adoption. i.e. - keeping the bitcoins for B2B transactions.


Agreed although these types of businesses (those who convert via BitPay, etc.) also act as informal "cash out" services for bitcoin holders.
cypherdoc
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July 01, 2014, 01:40:08 PM
 #9055

Quote
keeping the bitcoins for B2B transactions

ding, ding ... these will be the winners.

do you guys know if there is the infrastructure there for B2B payments? as far as i know, all payment processors dont allow payments to be taken as btc and held as btc instead of converting to usd.

Yes, there is Coinkite, who I've never dealt with but look to be an innovative company. they're the first to use HD  wallets and sell neat handheld POS devices.

Bitpay and Coinbase actually allow you to hold btc for btc if you want. you just name the %.
FNG
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July 01, 2014, 01:47:39 PM
 #9056



http://www.gulf-times.com/eco.-bus.%20news/256/details/398622/kuwait-finance-firm-suggests-trading-oil-in-bitcoins
cypherdoc
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July 01, 2014, 01:48:55 PM
 #9057

It's this kind of news that I see as a big deal. Not using payment processors, keeping the bitcoins.

http://www.coindesk.com/singapore-architecture-design-firm-accept-keep-bitcoins/

There was a theory floating about that said, using bitpay etc. actually does nothing for the bitcoin community, as it creates selling presure whenever a merchant accepts bitcoin as a means of payment, the btc is converted almost immediately into fiat.

It's forward thinking companies like the one in the article who will spearhead the second phase of merchant adoption. i.e. - keeping the bitcoins for B2B transactions.


Agreed although these types of businesses (those who convert via BitPay, etc.) also act as informal "cash out" services for bitcoin holders.

Yes, but i as a hodler now know that i can cash out when i want, therefore i hodl (and stay calm).
cypherdoc
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July 01, 2014, 02:00:32 PM
 #9058


I've  thought about this for years. seems like a  likely eventuality. all it takes is one country to bolt from the cartel for that country to become rich. then they'd all follow.

that part about having to use the yuan first is bogus. no one will ever trust that currency.  
kehtolo
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July 01, 2014, 02:11:59 PM
 #9059


that theory is bogus.

i don't think there is any company in the space who's done more for bitcoin than Bitpay. they've facilitated adoption from the beginning and we wouldn't be nearly as big as we are without them.  they were the pioneers in that area.  what they facilitated was monetary velocity which is critical for any currency, new or old. it doesn't matter if the merchant wanted Bitpay to sell them immediately. there had to be a buyer anyways and the sales are offloading those coins to new holders that value those coins more highly than the merchants. another way to describe it is liquidity. allowing usage of the coins is important.

it's also great that this firm is holding them. they're helping to close the loop. and this isn't double speak from me. what's important is that aggregate demand is increasing throughout the space.

Ok - i take your point, and it makes sense. that the fact they're increasing liquidity, merchant adoption etc. has accelerated bitcoin infrastructure growth and moved us on. Just last year how many merchants accepted it? Very, very few.

Esp. agree with this: 'it's also great that this firm is holding them. they're helping to close the loop'

& 'what's important is that aggregate demand is increasing throughout the space.'

The last 24 hours were critical but the next 24 hours are criticaller!
cypherdoc
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July 01, 2014, 02:47:05 PM
 #9060


that theory is bogus.

i don't think there is any company in the space who's done more for bitcoin than Bitpay. they've facilitated adoption from the beginning and we wouldn't be nearly as big as we are without them.  they were the pioneers in that area.  what they facilitated was monetary velocity which is critical for any currency, new or old. it doesn't matter if the merchant wanted Bitpay to sell them immediately. there had to be a buyer anyways and the sales are offloading those coins to new holders that value those coins more highly than the merchants. another way to describe it is liquidity. allowing usage of the coins is important.

it's also great that this firm is holding them. they're helping to close the loop. and this isn't double speak from me. what's important is that aggregate demand is increasing throughout the space.

Ok - i take your point, and it makes sense. that the fact they're increasing liquidity, merchant adoption etc. has accelerated bitcoin infrastructure growth and moved us on. Just last year how many merchants accepted it? Very, very few.

Esp. agree with this: 'it's also great that this firm is holding them. they're helping to close the loop'

& 'what's important is that aggregate demand is increasing throughout the space.'


another way to say this, as i've said before, is that Bitcoin is many different things to many different ppl.  it has the ability to satisfy all our needs as hodlers, merchants, or consumers. simultaneously.  someone just said in another thread that Bitcoin's "purpose" is to be spent or transacted with.  no.  for me, right now, it satisfies my wants as a hodler.  but for him, it satisfies his wants as a spender. but it can even do both for me too, simultaneous to my wants as a hodler.  last Nov, i took one of my friends to a pro basketball game.  he's runs a major investment firm and we were talking about Bitcoin.  obviously i was trumpeting the merits of hodling the best performing "asset" of the last 5 yrs and how i was hodling.  but then, just to make the point, i whipped out my Mycelium cold wallet and showed him how i could spontaneously buy a CPK Gyft card and buy him a salad right then and there just to ram home the point that it is liquid also while simultaneously hodling it.

so it doesn't matter what you're doing with it.  the important thing is it's satisfying your wants b/c it's voluntary.  other ppl are seeing that it's voluntary and doesn't force you to feel like you have to spend a withering asset.  this increases aggregate demand.
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