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Showing 20 of 27 results by Havoc
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Board Bitcoin Discussion
Re: Buy Bitcoin T-Shirts..With Bitcoin
by
Havoc
on 07/07/2011, 17:43:15 UTC
Quote from: BitcoinPorn on July 07, 2011, 05:38:15 PM
Also, I might nab that Matrix  idea Havoc.    I might as well throw this out here if anyone wants to jot down their ideas in MS Paint or something

Be sure to send me a PM if you make one, so i don't risk missing it!
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Topic
Board Bitcoin Discussion
Re: Buy Bitcoin T-Shirts..With Bitcoin
by
Havoc
on 07/07/2011, 17:31:13 UTC
I just got this idea for a shirt design, which if done properly would be awsome:

Black shirt. Matrix digital rain in green. Varying intensity of the green color forms the bitcoin B.

I would buy this even with old money.
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Topic
Board Bitcoin Discussion
Re: Buy Bitcoin T-Shirts..With Bitcoin
by
Havoc
on 07/07/2011, 17:18:10 UTC
If the extra for international delivery is reasonable I would buy. But only for bitcoin.

(I would like a "Bought with bitcoin" shirt. But preferably not just plain text but some nice artwork as well.)
Post
Topic
Board Services
Re: Google + Invites (Good Samaritan Style)
by
Havoc
on 06/07/2011, 07:04:38 UTC
I would be happy to get one: jonas.barka AT gmail.com
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Topic
Board Bitcoin Discussion
Re: BitClip (dedicated bitcoin hardware) Offical Development Thread
by
Havoc
on 01/07/2011, 21:42:36 UTC
Not ready to donate, but I would make a down payment on a pre-order if the project reaches that phase. I suggest starting with the simplest possible model.
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Topic
Board Bitcoin Discussion
Re: Donations for a Bitcoin Video Ad Requested | 11.46 BTC So Far
by
Havoc
on 30/06/2011, 18:42:40 UTC
How much do you expect to need to get it made and aired at least once?
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Topic
Board Bitcoin Discussion
Re: Gox BTC hitting TH Auction Block
by
Havoc
on 25/06/2011, 19:36:26 UTC
Quote from: DrYe5 on June 25, 2011, 07:25:49 PM
Quote from: Havoc on June 25, 2011, 07:15:03 PM
Quote from: DrYe5 on June 25, 2011, 06:20:26 PM
The plummet continues... >10% fall from today's high since Mt. Gox opened. No news to break the trend in sight, many holders traumatized by the hack.

No one will fall for your trolling.

Just stating the facts mam.

No facts, just inaccurate numbers and speculation.

Todays high at Tradehill was 16.50. The rate has not even been close to the 14,85 required for a 10% fall.

Stop trolling!
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Board Bitcoin Discussion
Re: Gox BTC hitting TH Auction Block
by
Havoc
on 25/06/2011, 19:15:03 UTC
Quote from: DrYe5 on June 25, 2011, 06:20:26 PM
The plummet continues... >10% fall from today's high since Mt. Gox opened. No news to break the trend in sight, many holders traumatized by the hack.

No one will fall for your trolling.
Post
Topic
Board Bitcoin Discussion
Re: How can Bitcoin help my people in Venezuela?
by
Havoc
on 25/06/2011, 13:07:38 UTC
If it is possible to get computer parts (including modern GPUs) on the local market, setting up a mining operation could be very profitable. But I guess the lack of electronics is why you want to shop from the US in the first place.

As others have already said, providing online services for bitcoin is probably the best way to get them. Are there a problem for Venezuelans to use a paypal account or similar to recieve payment for such services? If not that would probably be easier than using bitcoins, at present time.
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Board Bitcoin Discussion
Re: The REAL reason MtGox wanted to know your balance
by
Havoc
on 25/06/2011, 10:33:27 UTC
+1 to estimated low and "recieved" a higher balance.
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Topic
Board Bitcoin Discussion
Re: The Bitcoin Black Hole (an idea, not FUD)
by
Havoc
on 23/06/2011, 16:13:50 UTC
Quote from: elggawf on June 23, 2011, 04:02:45 PM
http://blockexplorer.com/address/1BitcoinEaterAddressDontSendf59kuE

Pretty sure no one has the private key to that.

It already got 0.021 BTC.

How do you go about designing an adress like that? I guess you need a few characters at the end to make it pass the verification, but is there a tool to determine them?
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Topic
Board Bitcoin Discussion
Re: Bitcoin Jokes
by
Havoc
on 22/06/2011, 19:20:00 UTC
http://img17.imageshack.us/img17/8250/earlyadopter.jpg
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Topic
Board Bitcoin Discussion
Re: Bitcoin Jokes
by
Havoc
on 22/06/2011, 19:12:07 UTC
http://img803.imageshack.us/img803/7069/allihaz.jpg

Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Jokes
by
Havoc
on 22/06/2011, 18:55:48 UTC
http://img841.imageshack.us/img841/4567/minercat.jpg

Post
Topic
Board Bitcoin Discussion
Re: Place your bets: the price of bitcoin after Mt.gox opens
by
Havoc
on 20/06/2011, 12:29:25 UTC
13.32
Post
Topic
Board Obsolete (selling)
Re: BITCOIN T-SHIRTS- 1 BTC inc postage, advertise BTC and put BTC into economy
by
Havoc
on 05/06/2011, 19:13:20 UTC
Where can I see the shirts?
Post
Topic
Board Obsolete (selling)
Re: [SELLING] Original CD-Keys: Windows & more
by
Havoc
on 05/06/2011, 19:08:06 UTC
Are these like the retail or the OEM version when it comes to re-using the key when you get a new computer?
Post
Topic
Board Economics
Re: BitCoin Bank
by
Havoc
on 05/06/2011, 16:00:51 UTC
Quote from: alexk on June 05, 2011, 02:45:36 PM
Thank you for your reply.

Even if there was a fractional reserve in this example i would not have a problem with it. Fractional reserve banking is not the problem with bitcoins, it has been done with precious metals since the middle ages.

My problem with this example is the following:
Bitcoins are highly deflationary. Let's assume 20% deflation in bitcoins and 0% interest that you have to pay to the bank. This means you borrow 100BTC at the beginning of the year and have to pay back 100BTC at the end of the year. By the end of the year, these 100BTC will be worth 20% more than at the beginning. To make up for this 20% difference, the debtor needs a return on investment of at least 20% for his business. If the debtor also has to pay interest, the required return on investment would be even higher. This makes it impossible for many debtors to use borrowed capital and thus makes many businesses economically unfeasible.

20% deflation is a rather conservative estimate of bitcoin deflation. This is the reason why bitcoin banks can't earn money by lending out capital, which makes it impossible for them to pay interest to depositors.


alexk

A bank always considers the expected inflation or deflation when determining interest rates. With a high deflation interests for both saving and lending would be low. A saver would accept a low interest as he also gains the increase in value from deflation. The one ledning can only pay a low interest as he also have to pay the increase in value.

Deflation do not by itself pose a problem for a bank, but it can indirectly: As you say the return on investment of any venture backed by a loan has to be bigger than interest plus deflation. This could limit the number of such ventures. But the problem is not the bank as it only adds a little to the return on investment you need to break even compared to if you used your own saved money (for example 20% deflation and 2% interest).

A much bigger problem today is the unpredictability of the future value of BTC. Both depositing and lending BTC is very risky for all parties includning the bank.
Post
Topic
Board Economics
Re: BitCoin Bank
by
Havoc
on 05/06/2011, 14:29:46 UTC
Quote from: alexk on June 05, 2011, 02:08:37 PM
Quote from: benjamindees on June 05, 2011, 01:49:48 PM
Well, in the US, credit card debt is normally a loan of goods or services, when it's not a cash advance.  So it's consumer credit.  I'm not sure what the definition is wherever you live.

Regardless, loaning Bitcoins isn't required for such services; and they can support a Bitcoin bank perfectly well.

Ok, you can continue making up your own definitions. According to http://en.wikipedia.org/wiki/Loan credit card debt is an unsecured loan, which i already pointed out. This will be my last post regarding this subject, i'm not here to argue about definitions.

If you can show me a way how a bitcoin bank can pay
1. interest to its depositors or
2. earn money by lending
i will be happy to continue with the discussion.


alexk

I can show it:

A deposits 100 BTC and is promised to get 110 back in a year.

B loans 100 BTC and promise to pay 120 back in a year.

After one year the bank has earned 10 BTC.

This example is not fractional reserve as the bank got assets covering all its promises. The bank is just a boker of loans between it's customers. A could of course lose his deposit if B never pays and this forces the bank out of business, but even if the bank just stored the BTC they could be stolen by a hacker. Deposits are never 100% safe.
Post
Topic
Board Economics
Re: BitCoin Bank
by
Havoc
on 05/06/2011, 14:23:15 UTC
Fractional banking works as well with bitcoins as with any other asset.

Person A deposits 100 BTC at the bank and gets interest. He can withdraw them at any time.

Person B loans 90 BTC from the bank and pays interest. He have to pay back within a year.

The bank only has 10 BTC but have promised to be able to give A back his full 100 BTC at any time. This makes it a fractional reserv bank with a 10% reserv. If A want to withdraw more than 10 BTC the bank will have to take a loan to cover it, but as it isn't sure the bank can get this loan A can lose his money.

Some argue that the total ammount of BTC in this example is now 190, and that the bank has fraudulently created 90 BTC. If this is the case or not is a matter of definition but as long as the depositer knows about the fractional nature of the bank, I would not call it fraud.