Quote from: billyjoeallen on September 08, 2015, 10:21:18 PM

Quote from: Norway on September 08, 2015, 09:43:37 PM

Quote from: Fatman3001 on September 08, 2015, 08:54:47 PM

Is it still time to hire some strippers (of both sexes, of course) for that kumbaya session devs are having in Canada?

Nerd egos are stubborn things, might be a good idea to soften up the mood. Make 'em mellow.

Still time? The Backpage-situation graduated all the exotic dancers in Bitcoin 101. International payments to Canada to these entrepeneurs only take seconds / minutes (depending on of much they trust zero confirmations).

And they start saturday! Plenty of time! Let's feed those bras with digital cash! Cheesy

Hopefully, on monday you all will understand that scaling is not a big problem. Because all miners/nodes/pools/whatever do NOT need to confirm every bleeping transaction. The computer work can be easily shared. The big work isn't processing transactions. It's mining. Wink

I suspect backpagers buy the majority of my coins on bitquick.co. it's nice because I can arbitrage the spread and buy back immediately at a lower rate on an exchange, but of course I'm really just selling my risk of getting my bank account seized in the event that some bureaucrat somewhere decides it's money laundering and retroactively applies the decision to me. So I have to constantly drain the account to minimize the risk. I also have to buy back in immediately to minimize the exchange rate risk because the most buyers come in during an uptrend. A five dollar bump in three hours can wipe out any profit.

buying gas cards on purse.io is similarly problematic. I get a ~20% discount on the card, but I have to exchange the gamestop card for a shell card at a brick-and-mortar store which takes time and money, THEN I can only buy fuel at Shell stations which typically overcharge ~5% for fuel.

Once I have enough profit to cover living expenses, I crank up the premium I ask for on bitquick and crank up the discount I demand on purse.io. If nobody bites, it's no big deal. If they do, that's less work for me in the future.

Arbitraging is the only way I know to make profits without burning through my stack, except of course lending out coins on bfx but the vig is still pretty low. For bigger profits that that, one must OBSERVE THE WALL and get lucky.

I feel with you.
I am right now starting to get out of arbitraging.
Have been doing this since late 2013 for a living.
If you you allow for my directness, but maybe you should consider having a plan "B".

Arbitraging has not only now become the same armsrace as has mining, but also the possible profits are limited and with adoption there are simply too many participants to make more than pocketmoney.
Not speaking of frozen fiatfunds and several banks shutting their door in you face (been there, done that) and sending your money to Lithunania and ofcourse Estonia (Panama City anyone Wink

).
Strangers keeping your funds for no good reason, but that they unfortunately bought a ferrari before real profits actually did come in.

magic gathering, pireat et al. anyone?
[what ever became of "catpay" by Ullus Corp, who alsao ran hitbtc who at some point exchanged fiat on your account there for new AML rules? .....]
Ever did an irl deal worth more than 10 BTC with a complete stranger in a subway station?

dont fuck with the taxman.
dont fuck with morals.

and most importantly:
dont fuck with common sense.

best,

dha.