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Re: What to do: bank to empty my bank account for receiving payment from cons
My bank ING DIRECT discovered that a customer who bought bitcoin from me last month, paid me money with a stolen account. That account's bank, ANZ in this case, demands it. My bank will empty my bank account to pay for it.
Phone call I received: "because the money is stolen, you have never been entitled to this money. This is happens. Your account will be empty in a couple of days and there is nothing I can do for you."
Since the transaction happened on localbitcoins, with purchase and delivery of goods provable, it seems to me that I am punished for someone else's fault. I already contacted localbitcoin to suspend the buyer's account. I also contacted ANZ bank's efraud team by email.
What to do? And if I call the bank to ask for paper trail, what document do I ask for that can authorize them to empty my account?
The event happens in Australia, but I think in general the western law system work the same?
Phone call I received: "because the money is stolen, you have never been entitled to this money. This is happens. Your account will be empty in a couple of days and there is nothing I can do for you."
Since the transaction happened on localbitcoins, with purchase and delivery of goods provable, it seems to me that I am punished for someone else's fault. I already contacted localbitcoin to suspend the buyer's account. I also contacted ANZ bank's efraud team by email.
What to do? And if I call the bank to ask for paper trail, what document do I ask for that can authorize them to empty my account?
The event happens in Australia, but I think in general the western law system work the same?
Sorry to hear you had this trouble. I'm not a lawyer, but I think you are right. According to the Western Law System, the money did not belong to the customer, so he had no right to send it to you. The bank is required to send the money back to its rightful owner.
Something similar can happen when you buy a used car. If the person who sold you the car is a crook and the car was stolen, it will be returned to its rightful owner by the police. The onus is then on you to try to get compensation from the crook who sold it to you.
Is it different in China?
When doing a deal with anyone, always try to verify their ID and residential address so you know who they are in case things go wrong. That is also why platforms such as Ebay, Airbnb etc are so useful: the platform will help you and maybe compensate you in cases of fraud like this and the platform should know the identity of all its users.
P.S. I very much enjoyed your commentry on the Bitcoin market. I hope you'll post again about this.
There are two problems with that I can think of:
1. Bank transfers can be reversed in some circumstances (account was stolen etc). Some days after Bob gets the money and releases the bitcoins, the bank may reverse the transaction.
2. I'd be worried that the bank may freeze my account if I receive cash transfers from someone who turns out to be a criminal or the bank freaks out for some reason.
I would much prefer a centralized exchange.
This concept could work if A and B meet up and payment is made in cash. This concept could also work for trading between cryptocurrencies (btc <--> ltc etc)
1. Bank transfers can be reversed in some circumstances (account was stolen etc). Some days after Bob gets the money and releases the bitcoins, the bank may reverse the transaction.
2. I'd be worried that the bank may freeze my account if I receive cash transfers from someone who turns out to be a criminal or the bank freaks out for some reason.
I would much prefer a centralized exchange.
This concept could work if A and B meet up and payment is made in cash. This concept could also work for trading between cryptocurrencies (btc <--> ltc etc)
Re: 如果有一个人谁讲中国，可以帮助找到OKCoin，HuoBi，BTCTrade，ChBTC和FxBTC业界的API，请与
Check this out:
https://github.com/kingofhawks/bitcoin/blob/master/api.txt
All these pages give json responses:
https://github.com/kingofhawks/bitcoin/blob/master/api.txt
All these pages give json responses:
Hi Josh, this sounds a good idea! I signed up for your site and might buy some GoxBTC on it.
It would be great if we could see a history of trades that have been made on your site.
I see from your previous posts that you appear to be running Chunkhost and also doing a couple of other entrepreneurial things...it would be great if someone well known or with higher trust in the forum could vouch for you.
It would be great if we could see a history of trades that have been made on your site.
I see from your previous posts that you appear to be running Chunkhost and also doing a couple of other entrepreneurial things...it would be great if someone well known or with higher trust in the forum could vouch for you.
Hey guys!
I saw this thread and got to thinking.. this could be a whole lot easier if somebody just made an actual exchange between "Real" BTC and "Gox" BTC!
So I did!
Since my https://www.bitcoinbuilder.com/ site had fallen into a little bit of disuse (I made it two years ago... back then it was for using dwolla to automatically buy bitcoins on mtgox!), over the last two days I've re-purposed it to exactly this purpose. And now it's ready to launch!
Advantages of this over using this thread:
1. People who want to sell gox btc, you know any offers in the order book are legit and will execute immediately. No need for constant PMing and hoping the person willing to buy your gox btc is online right now and still willing to honor their post!
2. People who want to buy gox btc, you can now accept any size order without it being any work for you. Just place your limit order and forget about it.
3. As the exchange, I am a trusted "escrow" service all in one.. no more sending small amounts piece-by-piece/skyping/etc. (I can be considered "trusted" as a long time member of bitcoin talk.. I'm Josh Jones, founder of DreamHost, the Los Angeles Bitcoin Meetup, ChunkHost.com, BitMadness.com, 310-570-COIN, and so on!)
Note: there's a 2% transaction fee for all trades on bitcoinbuilder, and to be safe your withdrawal BTC addresses (one for "Real" BTC and one for your "Gox" BTC... must be a mtgox deposit address!) are permanently set and locked once you put them in. Also, all withdrawals are processed manually by me, once daily at (around) 11pm PST. That's because no coins are kept on the server at all, and you know, just to be super safe!
So, go check it out! I hope it makes sense and you find it useful. It seems to me like it should be somewhat at least!
Thanks,
josh!
I saw this thread and got to thinking.. this could be a whole lot easier if somebody just made an actual exchange between "Real" BTC and "Gox" BTC!
So I did!
Since my https://www.bitcoinbuilder.com/ site had fallen into a little bit of disuse (I made it two years ago... back then it was for using dwolla to automatically buy bitcoins on mtgox!), over the last two days I've re-purposed it to exactly this purpose. And now it's ready to launch!
Advantages of this over using this thread:
1. People who want to sell gox btc, you know any offers in the order book are legit and will execute immediately. No need for constant PMing and hoping the person willing to buy your gox btc is online right now and still willing to honor their post!
2. People who want to buy gox btc, you can now accept any size order without it being any work for you. Just place your limit order and forget about it.
3. As the exchange, I am a trusted "escrow" service all in one.. no more sending small amounts piece-by-piece/skyping/etc. (I can be considered "trusted" as a long time member of bitcoin talk.. I'm Josh Jones, founder of DreamHost, the Los Angeles Bitcoin Meetup, ChunkHost.com, BitMadness.com, 310-570-COIN, and so on!)
Note: there's a 2% transaction fee for all trades on bitcoinbuilder, and to be safe your withdrawal BTC addresses (one for "Real" BTC and one for your "Gox" BTC... must be a mtgox deposit address!) are permanently set and locked once you put them in. Also, all withdrawals are processed manually by me, once daily at (around) 11pm PST. That's because no coins are kept on the server at all, and you know, just to be super safe!
So, go check it out! I hope it makes sense and you find it useful. It seems to me like it should be somewhat at least!
Thanks,
josh!
Re: Announcing a new bitcoin exchange with UK banking - www.bit121.co.uk
Great to see a bitcoin exchange based in the UK.
Some comments about bit121:
Where are the charts showing price and trading volume over time?
Where can I see the order book?
I feel as if I am blind when I try to trade with this site.
Secondly, I don't like the separate "buy" and "sell" tabs which are similar to MtGox. I find it easy to get confused and enter a sell order instead of a buy order, or vice versa. I think btc-e has about the best user interface of any exchange--if you just replicated their interface and the level of reliability of their site, it would be great.
Some comments about bit121:
Where are the charts showing price and trading volume over time?
Where can I see the order book?
I feel as if I am blind when I try to trade with this site.
Secondly, I don't like the separate "buy" and "sell" tabs which are similar to MtGox. I find it easy to get confused and enter a sell order instead of a buy order, or vice versa. I think btc-e has about the best user interface of any exchange--if you just replicated their interface and the level of reliability of their site, it would be great.
I have used btc-e without problems (deposit USD via Swift, deposit and withdraw btc and ltc). Now I want to withdraw cash.
How long has it taken you to receive USD or EUR from btc-e via Swift transfer? Does it normally take longer than a week?
How long has it taken you to receive USD or EUR from btc-e via Swift transfer? Does it normally take longer than a week?
I have pre-ordered a total of 3 60GH/s miners from BFL and am considering selling the pre-orders. I'm pretty sure I have the option to get a refund from BFL as well, so obviously the selling price must be greater than my purchase price otherwise I'll just get a refund. I have not sold or used any chip discount coupons associated with the orders--so if there are any, these are included. I'd prefer payment in BTC or LTC and I'm OK using escrow (I'll share escrow costs 50-50 with the purchaser).
Please make offers or ask questions in the thread. (Or you can PM me if you like).
Here are the details of my pre-orders:
100017xxx 2/21/13 $1,333.00 Processing 1 x 60 GH/s Bitcoin Miner SGL600G
100020xxx 3/8/13 $2,632.00 Processing 2 x 60 GH/s Bitcoin Miner SGL600G
The orders include $34 for shipping, although I have opted to have the miners hosted at eclipseMC for me. I'm pretty sure the shipping address can be changed if you want to have the miners in your premises or elsewhere.
Please make offers or ask questions in the thread. (Or you can PM me if you like).
Here are the details of my pre-orders:
100017xxx 2/21/13 $1,333.00 Processing 1 x 60 GH/s Bitcoin Miner SGL600G
100020xxx 3/8/13 $2,632.00 Processing 2 x 60 GH/s Bitcoin Miner SGL600G
The orders include $34 for shipping, although I have opted to have the miners hosted at eclipseMC for me. I'm pretty sure the shipping address can be changed if you want to have the miners in your premises or elsewhere.
It would be good to have a Google spreadsheet showing the expected costs (upfront and running costs) and the expected revenue from mining. For example, you could assume you will solely be mining LTC, make some estimates of future difficulty, assumptions about future BTCLTC rate and when your mining capacity will come on line. Then you'd be able to show the expected dividends. This would really make it a lot clearer what you intend to do.
By the way mega hash is abbreviated to MHash. Small m is short for milli, big m is short for mega.
This looks like it could be a good asset to invest in.
By the way mega hash is abbreviated to MHash. Small m is short for milli, big m is short for mega.
This looks like it could be a good asset to invest in.
Rippler works nicely--thanks
I'm trying to use it to make a payment from one ripple account to another.
It seems I have to use a command: sign secret tx_json [offline]
The tx_json needed for this is defined here https://ripple.com/wiki/Transaction_Format but looks complicated. Are there any examples?
I'm trying to use it to make a payment from one ripple account to another.
It seems I have to use a command: sign secret tx_json [offline]
The tx_json needed for this is defined here https://ripple.com/wiki/Transaction_Format but looks complicated. Are there any examples?
It is possible to use this API via Rippler, but you should understand that by using it with public server you're transmitting your secret over the wire. Proper use of it should be with a local server, but the server code is currently closed-source.
I have not seen any examples of transaction json on the Wiki but you can get some live samples from the ledger via Rippler, using for example tx_history and transaction_entry API.
Yeah, it occurred to me, I'd be able to see examples. Rippler works nicely--thanks
I'm trying to use it to make a payment from one ripple account to another.
It seems I have to use a command: sign secret tx_json [offline]
The tx_json needed for this is defined here https://ripple.com/wiki/Transaction_Format but looks complicated. Are there any examples?
I'm trying to use it to make a payment from one ripple account to another.
It seems I have to use a command: sign secret tx_json [offline]
The tx_json needed for this is defined here https://ripple.com/wiki/Transaction_Format but looks complicated. Are there any examples?
Re: Low Watt Miners, links and chart- GH/BTC, ROI with difficulty [Updated May 25]
This very good!
OK, so your "1 year ROI" calculation is more like "number of bitcoins mined in a year" given different average difficulty increases every 2 weeks (and your sheet 2 shows historical data for the difficulty increases).
I think "number of bitcoins mined in a year" would be a better name for this calculation.
You then need to subtract the yearly electricity cost and the original cost of the miner from the "number of bitcoins mined in a year" to get the "Profit" which will often be less than zero (i.e. a loss)
The ROI will then be "Profit" / "original cost of the miner" and will be a percentage.
Now that I downloaded your spreadsheet to Excel, I realized your "1 year ROI" is actually "Profit" as I described above. Dividing this by the original price to get the ROI is very instructive.OK, so your "1 year ROI" calculation is more like "number of bitcoins mined in a year" given different average difficulty increases every 2 weeks (and your sheet 2 shows historical data for the difficulty increases).
I think "number of bitcoins mined in a year" would be a better name for this calculation.
You then need to subtract the yearly electricity cost and the original cost of the miner from the "number of bitcoins mined in a year" to get the "Profit" which will often be less than zero (i.e. a loss)
The ROI will then be "Profit" / "original cost of the miner" and will be a percentage.
Basically, if you think difficulty will rise slowly, KNC miners look best, but if you think difficulty will rise faster, evilscoop's unit looks best (assuming the Lead time (maybe should be called "Delivery date") you give). This makes sense, obviously.
BTW, from the Excel file I downloaded, it seems you could make much greater use of formulas (VLOOKUP etc) to ease updating of this spreadsheet. If you want help with this, drop me a PM. (I'm familiar with Excel, but not so much, Google spreadsheet).
Re: Low Watt Miners, links and chart- GH/BTC, ROI with difficulty [Updated May 25]
This very good!
OK, so your "1 year ROI" calculation is more like "number of bitcoins mined in a year" given different average difficulty increases every 2 weeks (and your sheet 2 shows historical data for the difficulty increases).
I think "number of bitcoins mined in a year" would be a better name for this calculation.
You then need to subtract the yearly electricity cost and the original cost of the miner from the "number of bitcoins mined in a year" to get the "Profit" which will often be less than zero (i.e. a loss)
The ROI will then be "Profit" / "original cost of the miner" and will be a percentage.
OK, so your "1 year ROI" calculation is more like "number of bitcoins mined in a year" given different average difficulty increases every 2 weeks (and your sheet 2 shows historical data for the difficulty increases).
I think "number of bitcoins mined in a year" would be a better name for this calculation.
You then need to subtract the yearly electricity cost and the original cost of the miner from the "number of bitcoins mined in a year" to get the "Profit" which will often be less than zero (i.e. a loss)
The ROI will then be "Profit" / "original cost of the miner" and will be a percentage.
Re: Eyes to the horizon: A bitcoin ASIC project will be announced in June
Seeing the pricing you propose for 1TH in model B (1,000-1,200BTC/TH/year), I'm afraid your IPO price will be too expensive. I would take into account that Bitfountain's IPO price was 0.1BTC per share, for an expected deployment of +250TH. If I do not recall it wrong, each share is 1/400,000 of the total profit/hashrate, which means that their price for TH was 160BTC, not a hefty 1,000-1,200BTC price tag.
Even at today's difficulty, a TH would take about a year to earn 1200BTC. Ridiculously overpriced, especially as that price only leases you the hash rate for a year.
At today's difficulty, 1 TH/s will make 1200 BTC in 27 days. (without electricity costs). You know, 1200 BTC per 1 TH/s is 1.2 BTC per 1 GH/s. Similar price as Avalon #3
Maybe that is why you want to sell shares Or maybe you want to sell shares to finance the infrastructure roll out for hosting another 900Thash...I would prefer Mode A, but in addition I suggest you spread your risk by selling some chips or miners too. This will also be good for bitcoin itself.
You say you will pay out 100% of profit, but how do you calculate "profit"?