Just use www.transferwise.com. Simple, easy, great GBP to USD/EUR rate, low fees. Next day SEPA transfer to MTGOX (if you are verified with MTGOX).

Thank you so much for your help and advice.

It really is amazing.

WOW! I'm starting to grasp this. The potential is unlimited.

And the buyer(s) would know it's an authentic "ticket" because they can see it's been issued/verified by the concert organisers?

And could I specify that a "ticket" cannot be resold? So the first buyer has to redeem the ticket at the door to stop dealers reselling for huge amounts?

Thanks for you help!

Q: could you sell tickets for a concert with colored Bitcoins? So then there is an open market for the tickets for fans and dealers to buy and sell with security. Then the final person to own the "ticket" can redeem it at the door of the concert?

I think it's rather that what we are seeing now is the IPO of Bitcoin.

Something that I don't see mention often, is that there must be hundreds, if not thousands of Silicon Valley tech investors and app/sw millionaire buying into BTC because they can see the potential, and they have insider knowledge of all the apps and sw that is being developed for BTC.

I suspect that the main driver is Silicon Valley folks and tech investors world wide. They have the funds and they have the knowledge that Bitcoin is going to be huge. Plus they know that they are going to be developing the apps to make it all smooth.

Heck, it's like investing in email itself - and there are no banks taking IPO fees :-)

OP: Why did you try and cause panic and desperate attention to your thread by saying Multibits wallets might be hacked? And in capitals?

Just because something is not working properly, doesn't mean it's been hacked. Let the media create all the fear and hysteria - at least that's their job and they get paid for it.

You could have posted a "question" about Multibit, and many folks here would have answered you question like they have.

FUD: Fear, Uncertainty and Doubt. GIYF.

Where can I buy some of these "testnet" coins I am hearing about all over the web? Is it worth it? Will I be scammed? Is it all a bubble? What are they really worth? How much will they be worth by next Thursday do you think? I want to get in early!

Just got this email today from www.xe.com.
When I emailed them 2 weeks ago they told me they were not considering it.
Now they have seen the news and their competitors listing Bitcoin :-)


Thanks for the info.

Given the increased interest in Bitcoin over the past couple of weeks we are considering it. Please note that even if we do list the curency, it's unlikely we'll be able to use the popular contraction BTC as there's a specific format to currency codes and this would contravene those properties.

An ISO 4217 currency code is generally built from the two digit ISO 3316 country code and a third letter for the currency. In this globally used format, BT would be the equivalent of the two letter country code. There are two problems caused by this:

a) Bitcoin is not a country
b) BT is already in use as an ISO3316 code for Bhutan

Since the ISO doesn't have a 4217 code for Bitcoin, but BTC would conflict with the existing global standards, it's unlikely that we would that 'code' if we were to list Bitcoins.

Thank you for your interest in our company and services.

Sincerely,


XE Currency Services Team


XE.com Inc. · 1145 Nicholson Rd · Suite 200 · Newmarket · Ontario · L3Y 9C3 · Canada
www.xe.com · +1 416 214-5606 · Fax +1 416 214-5607

Then the delivery guy is not allowed to delivery the package.

Sorry, I should have made it clearer that this system works best with integration with a delivery company. And that company would need to have a smart phone (for the delivery guy to have) or such like to see that the QR code has been scanned and verified.

But here is a way it would work without the integration:

The buyer is expected to scan the QR code on delivery.
The UPS guy would no nothing about this, and not care
The buyer should scan when they have taken the package indoors - ASAP

If they do scan - no problem.

If they are trying to scam:

The Bitcoins are held in escrow
The seller has proof of delivery (via UPS)
The seller has proof that the delivery address was linked to the buyer's public key
The seller at least has the Bitcoins in escrow

At this point, if the issue is unresolved, the dispute is passed-over to a human to pass judgement etc.
Human has 3rd key to release Bitcoins with the agreement of any one of the parties in dispute.
Human cannot access the funds themselves.
They can view the UPS proof of delivery etc.
Plus they can call the buyer on their mobile/email and discuss etc. If no reply or daft excuse - it's a scam, release the Bitcoins to the seller
If UPS are at fault the seller can start a dispute with them and claim from UPS - then the Bitcoins are released back to the buyer.

I think this would work very well and is easy to implement. Surely it's going to deter any potential scammers big time?

I guess that someone has thought of this before - but I just want to check:

You order a PC on line and pay with Bitcoin.
The Bitcoin goes into a virtual escrow account
The package is delivered by UPS with a QR code which I scan
This tells the delivery guy it's me; and releases the funds from the escrow account to the merchant.
No arguments

There could be a DNS lookup online, so my public key is linked to my delivery address, and only I can change that.

This totally get's around the "I need to pay with PayPal or Credit Card, because that way I'm protected if the guy does not deliver". And for the seller it gets around a number of issues: chargebacks, false delivery addresses, buyers claiming they did not get the goods when they did, delivery companies claiming they delivered to the right person/address, when they did not etc.

You can set the escrow account so that if the delivery is not made within say 3 days, then the buyer get's their money back. And if after that the delivery was attempted, the delivery guy would get a msg when the buyer scans the QR code not to deliver. Or only to deliver if the buyer first pays on the spot by Bitcoin.

You could also nominate another Bitcoin address for delivery purposes, either because you wanted it delivered to a different address (say your work); or you wanted a receptionist to take the package.

All this would remove the last stumbling block for buyers to use Bitcoin, as they would be covered for non-delivery.

Any thoughts? Thanks!

Sign me up for $1,000 USD by the end of the year. I think that's an easy figure.

There are an endless list of folks who will/are buying big time - including all the rich Silicon Valley lot who can see the potential and are now developing apps etc.

How about more like $5,000?

There is no problem with doing this, as Transferwise are licensed by the FSA and HMRC, so they are seen as part of the financial trail. I have used Transferwise 3 times to move funds to MTGOX: GBP to EUR SEPA. Both Transferwise & MTGOX are totally aware and happy with each other. It's the best way.

As the UK is such a big financial centre, the UK banks are very, very careful about money laundering and fraud. They have all sort of semi-automatic systems that suspend bank accounts at the merest hint of fraud.

Here's what has set the alarm bells off:

Many domestic bank customers are transferring large sums from their bank accounts to the Bitcoin exchange's accounts. Most domestic customers do not really do any account to account transfers, so this is a big red flag.

Fraudsters gain access to peoples bank accounts with scams and trojans etc., they need to transfer the funds somewhere so they can then extract the money. Often they pay people to use their bank accounts to do this - students etc. But some of them are transferring to the Bitcoin exchange's accounts, converting to Bitcoins and then escaping with those. This is perfect for them.

Once the banks have detected that even just ONE of these scams have been attempted, they will shut down the target bank account and won't even discuss it.

The banks also have multiple suspect accounts that they are watching for money laundering etc., and when they all start transferring to the Bitcoin exchange's accounts, the red flag goes up.

Isn't there just a BitTorrent of your album I can download somewhere for free??

Sorry - someone had to say it 

I kiieeed I kiieeeed 

http://en.wikipedia.org/wiki/Bitcoin#FinCEN_regulation

Just a newbie here, but from what I understand about the FinCEN regs, it all looks OK for Bitcoin.

But on the Bitcoin Wikipedia entry regarding FinCEN it says:

"Patrick Murck of the Bitcoin Foundation says: 'This framework would wildly expand the reach of FinCEN and the BSA, and would be infeasable for many, if not most, members of the bitcoin community to comply with. An individual or micro-business cannot be expected to create a robust AML/KYC program anytime they sell 1 or 100 bitcoin on an exchange or in-person'".

But that's not what FinCEN say at all. From what I understand, selling to & buying from a registered exchange is fine for both users and miners. And in any case many of the Bitcoin community are not miners or running business exchanging Bitcoins.

And how many miners are selling their BTC anyway? And how many over-the-counter?

The reason this is so dangerous, is that when you tell most folks about Bitcoin, the first thing they read is the Wikipedia entry. And this now seems to be saying that Bitcoin is illegal etc.

Thanks.

I think this post proves why us newbies are quarantined here in this sub-forum before we are allowed to chat with the big-boys :-)

Your bank should not be charging you anything for a true SEPA transfer from a EURO bank account to a EURO bank account within the EEA.

If they are, have a word with them or change banks.

I use www.bitcoin-central.net and they are safe and secure. Pretty good pricing as well. They have a SEPA EURO account in France, it takes me just one day to transfer funds. I don't think they charge anything.

MTGOX will only let you transfer funds to their Polish SEPA account once your ID has been verified - and this can take 2 weeks or so.

If you want to convert and currencies and transfer, then use these guys - they developed Skype: www.transferwise.com. Excellent currency conversion rates and very low fees. You don't have to be in the UK to use them - but their site is only in English at present.

Here's a simple way to keep BitCoin in the minds of the media folk on TV, Newspapers, Web:

Setup the website above, and send 100 key media folk 1 BTC each. But lock them in for say 3 years.

Now they are FORCED to watch the price of BTC go up - and we all know that watching those graphs are addictive!

Now just imagine all the articles they will write and TV slots they will produce :-)

We can also do a website with all their photographs and names, with the BTC graph as the top. That way, even if they don't get or respond to our emails, they will eventually find their BTC on the web page.

How about doing the same for celebs! Now that's another great idea - and joe public will watch those pages no end. And that in turn is a news item in itself. And we can claim that all the big celebs own BTC :-)

We can also donate the BTC "retrospectively" so that we show the donation was made 6 months ago when the price was much lower; and so the graph is all the more effective.

Then in 3 years times all the celebs have to come to our BTC party to collect their million dollar BTC's.

Nice.