It looks solid with a good pitch.
Others think the same: https://bitcointalk.org/index.php?topic=174032.0

I would start with a baby step: a very small deposit, something that I am willing to lose in case it is a scam.

However, the site claims "You can just visit the site and become its member and start earning Bitcoins" without making any deposit.

As per this post https://bitcointalk.org/index.php?topic=169567.0 it seems that user NilamDoc works for them.

That's a very provoking idea.
What we are discovering here is that once we get unchained from the fiat centralized currencies we are effectively discovering the real potential of money.
I agree with you that if this concept becomes successful it only would successful within the bitcoin network, I bet the outside is too stiff to handle this concept.

I envision service providers [similar to exchangers] that could provide trading with coloring verification, it is technically easy, but we need to bring it to the masses.

Eventually all merchants could use such a service so a potential client could see the price in different colors.

Now, I can easily imagine an explosion of colors which would compete with each other [I am treating the vanilla bitcoin here as a primal color] I wonder how easy could be to handle that complexity so it doesn't kill the concept.

Doing a home made ASIC is not a trivial. ASIC chips for Bitcoin mining require to be designed for that specific purpose: mining bitcoins. Any particular ASIC like that one can only be manufactured and mass-produced by hundreds of thousands in order for it to make sense financially.

I would even recommend not have all your bitcoins in just one exchanger, and also not to have all your virtual wealth in one single virtual currency. Diversify those two things and you will safer, and incidentally able to do arbitrage ;-)

The article has a couple of fair points.

1) It is right that the trading pairs become an important issue as long as we need to go into the bitcoin world and then out.

2) It is also right that after the bitcoin world reaches a critical mass, issue 1) become less relevant.

What I don't buy is the central banking endorsing that he does.

Here is my take on the volatility that we saw in the last day and a half:

.Mt. Gox "was victim of its own success", as they say, because of the massive volume of verifications and transactions they have to handle, which caused lags, which in turns generate "sell panic".
.Mt. Gox later was victim of several DDoS attacks of people that allegedly want to destabilize the currency to cash on the mayhem, or just for the sake of destroying it [any government could have this motivation]. This also causes lags and then panic.

Mt. Gox handles the 80% of the global btc trading so that's why if Mt. Gox sneezes the rest of the Bitcoin economy gets the flu.

Before jumping in the "That's why we need a central bank!! To avoid the volatility of 'panic sell's" consider this:
The panic is not entirely unfunded or whimsical. This massive increment of btc transactions pinpoints weaknesses in the implemented infrastructure. As a client, why should I trust my wealth to the flawed infrastructure of this service provider? If the Bitcoin infrastructure is not worthy of going massive and withstand DDoS attacks its value should be questioned.

Note that the flaw resides in the implemented infrastructure but not in the technology nor the concept. Because it is a matter of infrastructure, if Mt. Gox or a competitor has the brains and virtue to scale according to the market needs and also can defend itself against attackers and hopefully identify attackers, then AND ONLY THEN, it deserves trust and a justified high valuation.

If the prices are down it is because that's the value they deserve, AND THAT IS GOOD!!! It means that prices are not manipulated by a regulatory central entity. It means that we can trust more and more that the prices are trustworthy as time passes.

That's the virtue of bitcoins: It would/has become mainstream  because of its own merits.

The idea is nice, the site looks ugly but I it is ok to start that way :-) I would say that the first thing to do is make an effort to build more trust in the visitor so you can have recurring visitors. So far I don't see any motivation to return to your site after the first visit.

The lottery is also a nice idea, but I think that you should implement it in a very cool way so it stands out of the tons of bitcoin gambling sites that appear each week.

Keep on working on that buddy!

Hi!
It is difficult to find a site that accept credit cards to buy bitcoins. BTC and CC don't get along in real life. All the sites I've seen that claim to do that, have disappeared.

The way I started buying bitcoins even though I am in Costa Rica was via https://localbitcoins.com/ then finding trusted sellers in bitcointalk and then finally deciding to open an account in Mt Gox and wire some money there.

I am senior software developer owner of a development shop. I am convinced that Bitcoin is the future. Let's be part of it. Let's make that future brighter.

This is a very interesting idea. Are the stop orders the most valuable thing that you would love to see in a cryto trading website? My development team has been toying about that concept too.

It was the same for me. There are many ways to do this without annoying those that are not newbies. The could detect who is a newbie and then display a pop up or message in the header that explains this policy

My first post  !!!!

We just released a flipping coin game for bitcoins [our twist: with chained flips] http://www.mangofuzz.com/ and we are using the following method to simulate the 50&-50% chance of tossing a coin.

In C++ we :

• seed it with the current time stamp
• get a number between 0 and 1 like this: rand()/((double)RAND_MAX + 1

If such number is less than 0.5, the user wins.

We will use R instead of C in the next incarnation.

Thoughts on this simple approach?