



Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.


check_status


April 20, 2012, 09:21:30 AM 


For Bitcoin to be a true global currency the value of BTC needs always to rise. If BTC became the global currency & money supply = 100 Trillion then ⊅1.00 BTC = $4,761,904.76. P2Pool Server List  How To's and Guides Mega List  1 EndfedSryGUZK9sPrdvxHntYzv2EBexGA



Phinnaeus Gage
Legendary
Offline
Activity: 1344
Bitcoin: An Idea Worth Spending


April 20, 2012, 10:53:34 AM 

http://www.youtube.com/watch?feature=player_detailpage&v=RR7kRXWQo2I#t=957sDid Ashton major in fuzzy math? I can't figure out the math here. First he says that the average restaurants makes $70,000 gross profit (his words). But only 3% of that is net profits. The credit cards charge 3.6% of the gross sales, cutting into that profit. With Dwolla, the restaurants can now double their profits. Watch the video (timestamped) to see if you can make heads or tails of what's he's trying to relay. ~Bruno~




cbeast
Donator
Legendary
Offline
Activity: 1722
Let's talk governance, lipstick, and pigs.


April 20, 2012, 12:23:26 PM 

Dwolla is a roach motel. It's not FDIC insured. It's just a matter of time before it is hacked.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.



SgtSpike
Legendary
Offline
Activity: 1330


April 20, 2012, 03:51:50 PM 

http://www.youtube.com/watch?feature=player_detailpage&v=RR7kRXWQo2I#t=957sDid Ashton major in fuzzy math? I can't figure out the math here. First he says that the average restaurants makes $70,000 gross profit (his words). But only 3% of that is net profits. The credit cards charge 3.6% of the gross sales, cutting into that profit. With Dwolla, the restaurants can now double their profits. Watch the video (timestamped) to see if you can make heads or tails of what's he's trying to relay. ~Bruno~ Makes sense to me. $70,000 gross profits = 3% means that total revenue for the average restaurant would be $70,000/3% = ~$2.3M. And if they could chop 3.6% of expenses due to no longer using credit cards, then their total gross profits would rise to 6.6% of ~$2.3M, or $152,000. Hence, they could double their profits if they could get rid of those pesky CC fees.




Phinnaeus Gage
Legendary
Offline
Activity: 1344
Bitcoin: An Idea Worth Spending


April 20, 2012, 05:40:36 PM 

http://www.youtube.com/watch?feature=player_detailpage&v=RR7kRXWQo2I#t=957sDid Ashton major in fuzzy math? I can't figure out the math here. First he says that the average restaurants makes $70,000 gross profit (his words). But only 3% of that is net profits. The credit cards charge 3.6% of the gross sales, cutting into that profit. With Dwolla, the restaurants can now double their profits. Watch the video (timestamped) to see if you can make heads or tails of what's he's trying to relay. ~Bruno~ Makes sense to me. $70,000 gross profits = 3% means that total revenue for the average restaurant would be $70,000/3% = ~$2.3M. And if they could chop 3.6% of expenses due to no longer using credit cards, then their total gross profits would rise to 6.6% of ~$2.3M, or $152,000. Hence, they could double their profits if they could get rid of those pesky CC fees. Does your equation take into consideration that Ashton was talking about $70,000 gross profit per MONTH (not year)? ~Bruno~




SgtSpike
Legendary
Offline
Activity: 1330


April 20, 2012, 05:46:52 PM 

http://www.youtube.com/watch?feature=player_detailpage&v=RR7kRXWQo2I#t=957sDid Ashton major in fuzzy math? I can't figure out the math here. First he says that the average restaurants makes $70,000 gross profit (his words). But only 3% of that is net profits. The credit cards charge 3.6% of the gross sales, cutting into that profit. With Dwolla, the restaurants can now double their profits. Watch the video (timestamped) to see if you can make heads or tails of what's he's trying to relay. ~Bruno~ Makes sense to me. $70,000 gross profits = 3% means that total revenue for the average restaurant would be $70,000/3% = ~$2.3M. And if they could chop 3.6% of expenses due to no longer using credit cards, then their total gross profits would rise to 6.6% of ~$2.3M, or $152,000. Hence, they could double their profits if they could get rid of those pesky CC fees. Does your equation take into consideration that Ashton was talking about $70,000 gross profit per MONTH (not year)? ~Bruno~ Doesn't really matter what timeframe is being talked about. $70,000 profit is 3% of $2.3M revenue per month or per year or per decade or per day. It's the same calculation regardless.




Phinnaeus Gage
Legendary
Offline
Activity: 1344
Bitcoin: An Idea Worth Spending


April 20, 2012, 06:13:27 PM 

http://www.youtube.com/watch?feature=player_detailpage&v=RR7kRXWQo2I#t=957sDid Ashton major in fuzzy math? I can't figure out the math here. First he says that the average restaurants makes $70,000 gross profit (his words). But only 3% of that is net profits. The credit cards charge 3.6% of the gross sales, cutting into that profit. With Dwolla, the restaurants can now double their profits. Watch the video (timestamped) to see if you can make heads or tails of what's he's trying to relay. ~Bruno~ Makes sense to me. $70,000 gross profits = 3% means that total revenue for the average restaurant would be $70,000/3% = ~$2.3M. And if they could chop 3.6% of expenses due to no longer using credit cards, then their total gross profits would rise to 6.6% of ~$2.3M, or $152,000. Hence, they could double their profits if they could get rid of those pesky CC fees. Does your equation take into consideration that Ashton was talking about $70,000 gross profit per MONTH (not year)? ~Bruno~ Doesn't really matter what timeframe is being talked about. $70,000 profit is 3% of $2.3M revenue per month or per year or per decade or per day. It's the same calculation regardless. The point I was trying to make early on was that Ashton misspoke. The $70,000 is gross sales, not gross profit. Then he mentions the term net profits. He and his investment team is investing in companies, but gets the three basic terms confused: gross; net; profit. During the interview at that point, I was watching Ben's reaction, and it looked like he at least knew the difference. He probably opted to not correct Ashton for he may be able to use his assumed lack of basic accounting to his (Ben) advantage down the road. Do the Dwolla comes to mind. Also, the average restaurant does not gross $2.3M in sales per month or year. ~Bruno~




SgtSpike
Legendary
Offline
Activity: 1330


April 20, 2012, 06:31:03 PM 

http://www.youtube.com/watch?feature=player_detailpage&v=RR7kRXWQo2I#t=957sDid Ashton major in fuzzy math? I can't figure out the math here. First he says that the average restaurants makes $70,000 gross profit (his words). But only 3% of that is net profits. The credit cards charge 3.6% of the gross sales, cutting into that profit. With Dwolla, the restaurants can now double their profits. Watch the video (timestamped) to see if you can make heads or tails of what's he's trying to relay. ~Bruno~ Makes sense to me. $70,000 gross profits = 3% means that total revenue for the average restaurant would be $70,000/3% = ~$2.3M. And if they could chop 3.6% of expenses due to no longer using credit cards, then their total gross profits would rise to 6.6% of ~$2.3M, or $152,000. Hence, they could double their profits if they could get rid of those pesky CC fees. Does your equation take into consideration that Ashton was talking about $70,000 gross profit per MONTH (not year)? ~Bruno~ Doesn't really matter what timeframe is being talked about. $70,000 profit is 3% of $2.3M revenue per month or per year or per decade or per day. It's the same calculation regardless. The point I was trying to make early on was that Ashton misspoke. The $70,000 is gross sales, not gross profit. Then he mentions the term net profits. He and his investment team is investing in companies, but gets the three basic terms confused: gross; net; profit. During the interview at that point, I was watching Ben's reaction, and it looked like he at least knew the difference. He probably opted to not correct Ashton for he may be able to use his assumed lack of basic accounting to his (Ben) advantage down the road. Do the Dwolla comes to mind. Also, the average restaurant does not gross $2.3M in sales per month or year. ~Bruno~ See, I have no idea how much a restaurant generally takes in, so questioning that number didn't even come into my mind. :p




Raoul Duke
aka psy
Legendary
Offline
Activity: 1442


April 20, 2012, 06:49:11 PM 

Ben Milne is going to pulladwolla on Ashton... And I predicted it first!




Phinnaeus Gage
Legendary
Offline
Activity: 1344
Bitcoin: An Idea Worth Spending


April 20, 2012, 06:56:28 PM 

Ben Milne is going to pulladwolla on Ashton... And I predicted it first! Not to take away your thunder, but that's what I meantpulladwolla not do a dwolla. Good call! http://www.youtube.com/watch?feature=player_detailpage&v=RR7kRXWQo2I#t=957sDid Ashton major in fuzzy math? I can't figure out the math here. First he says that the average restaurants makes $70,000 gross profit (his words). But only 3% of that is net profits. The credit cards charge 3.6% of the gross sales, cutting into that profit. With Dwolla, the restaurants can now double their profits. Watch the video (timestamped) to see if you can make heads or tails of what's he's trying to relay. ~Bruno~ Makes sense to me. $70,000 gross profits = 3% means that total revenue for the average restaurant would be $70,000/3% = ~$2.3M. And if they could chop 3.6% of expenses due to no longer using credit cards, then their total gross profits would rise to 6.6% of ~$2.3M, or $152,000. Hence, they could double their profits if they could get rid of those pesky CC fees. Does your equation take into consideration that Ashton was talking about $70,000 gross profit per MONTH (not year)? ~Bruno~ Doesn't really matter what timeframe is being talked about. $70,000 profit is 3% of $2.3M revenue per month or per year or per decade or per day. It's the same calculation regardless. The point I was trying to make early on was that Ashton misspoke. The $70,000 is gross sales, not gross profit. Then he mentions the term net profits. He and his investment team is investing in companies, but gets the three basic terms confused: gross; net; profit. During the interview at that point, I was watching Ben's reaction, and it looked like he at least knew the difference. He probably opted to not correct Ashton for he may be able to use his assumed lack of basic accounting to his (Ben) advantage down the road. Do the Dwolla comes to mind. Also, the average restaurant does not gross $2.3M in sales per month or year. ~Bruno~ See, I have no idea how much a restaurant generally takes in, so questioning that number didn't even come into my mind. :p I hope you my comments in replying to you didn't come across as rude, SgtSpike. ~Bruno~




SgtSpike
Legendary
Offline
Activity: 1330


April 20, 2012, 06:58:10 PM 

Ben Milne is going to pulladwolla on Ashton... And I predicted it first! Not to take away your thunder, but that's what I meantpulladwolla not do a dwolla. Good call! http://www.youtube.com/watch?feature=player_detailpage&v=RR7kRXWQo2I#t=957sDid Ashton major in fuzzy math? I can't figure out the math here. First he says that the average restaurants makes $70,000 gross profit (his words). But only 3% of that is net profits. The credit cards charge 3.6% of the gross sales, cutting into that profit. With Dwolla, the restaurants can now double their profits. Watch the video (timestamped) to see if you can make heads or tails of what's he's trying to relay. ~Bruno~ Makes sense to me. $70,000 gross profits = 3% means that total revenue for the average restaurant would be $70,000/3% = ~$2.3M. And if they could chop 3.6% of expenses due to no longer using credit cards, then their total gross profits would rise to 6.6% of ~$2.3M, or $152,000. Hence, they could double their profits if they could get rid of those pesky CC fees. Does your equation take into consideration that Ashton was talking about $70,000 gross profit per MONTH (not year)? ~Bruno~ Doesn't really matter what timeframe is being talked about. $70,000 profit is 3% of $2.3M revenue per month or per year or per decade or per day. It's the same calculation regardless. The point I was trying to make early on was that Ashton misspoke. The $70,000 is gross sales, not gross profit. Then he mentions the term net profits. He and his investment team is investing in companies, but gets the three basic terms confused: gross; net; profit. During the interview at that point, I was watching Ben's reaction, and it looked like he at least knew the difference. He probably opted to not correct Ashton for he may be able to use his assumed lack of basic accounting to his (Ben) advantage down the road. Do the Dwolla comes to mind. Also, the average restaurant does not gross $2.3M in sales per month or year. ~Bruno~ See, I have no idea how much a restaurant generally takes in, so questioning that number didn't even come into my mind. :p I hope you my comments in replying to you didn't come across as rude, SgtSpike. ~Bruno~ Not at all Bruno!




