I can't speak with authority, because I am not bitfloor, but I have p2p transferred money to them one time and they went down like a minute later. I still had my money in the account in a few days, just like they promise.

In any case, I've diversified where I hold bitcoins and I don't rely on holding many at any time in bitfloor anymore. Its just to risky because even though the creator of Bitfloor seems honest, you just never know.

But rest assured, I've gotten my money transferred fine in similar situations and it all worked out. Hopefully, your situation is the same.

I would +1 for AirVPN. I have been using them for a while and they are top notch. Their servers are fast and I have never had a problem. They are uber-privacy concious. After reading their faq (https://airvpn.org/faq/), and a number of reviews, I signed up and have never looked back.

I think the transaction time that you are talking about is the time it would take to convert dollars or euros into BTC. The actual transaction time is fairly marginal.


Good point on the people who simply would not ever use the coins. Probably would want to bank them at the game's website, then allow people a cashout process if they choose.

What is truly amazing is that with all this massive influx in capital every week, values would remain quite volatile. The VIX (volatility index) has stayed up near 40 for most of the last two weeks.

Even more interesting is that a lot of mutual fund managers have been saying many private individuals have been pulling their portfolios in favor of cash or treasury investments. Since people have been pulling their long term investments in such high numbers, and ceasing to input more money into stocks, I would expect some steady but serious declines. Until people gain confidence in the market again, they will continue to deinvest.

This is just a theory, but I would not put it past the Fed and/or the U.S. Treasury to directly invest in the market in order to prop it up. This would be especially true when it hits certain historic markers. I know there are a lot of deal seekers out there, but just anecdotally, I think that the loss of repeat investments through mutual funds would seriously limit the upswing in the market. Unless, of course, you have someone with "unlimited" resources that tries to trick the market to rally from time to time.

If my theory is correct, the dollar market will slowly adapt to the new amount of currency created in the economy and certain prices will rise much faster than normal.

Jjtimon, You are right. The Fed does not practice fractional reserve banking (the Ten to one stuff). Instead, they loan to banks who are allowed to practice Fractional reserve banking.

Now regarding the Fed directly buying stocks... Very bad idea. The last thing we need is a front organization for the private banking cartel creating money to purchase parts of other companies.

Even if you subscribed to the idea that the Federal Reserve is a government run institution (which it is not - it is sort of a hybrid-ish monster), it would still be a bad idea for government to buy up parts of companies. This would be a defacto move from socialism on the part of government.

Since the Fed is actually a government protected private organization (see The Creature from Jekyll Island book), this would be akin to a fascist (state controlled expansion and control of industry) move in US government policy. This is a road that may have small "advantages" early on, but has grave consequences if pursued to its ends.

Ironically, they don't accept Bitcoin to pay for the server. 

Hello,

I'm Rag. I've been very intrigued by the BTC concept. Kudos goes out to the guys that make this happen. I read through some white papers and other documents on the algorithms and process and I am very impressed. Great work!

For those suggesting multiple hashes and such, I would think that a good phrase with mixed case and symbols may be easy enough and secure enough. You need supercomputers greater than are made today to crack a password constructed that way.

Just be smart, do it unexpected. Don't use a common phrase (use a derivative of it instead).

I'm not meaning to troll you or anything, but how do we know you are legit. The site was made with a free website builder (Weebly) and you have only made one post in the forums.

What other projects have you worked on? When did you become involved with BitCoin?

That is a good idea. Would not have to worry about that "check's in the mail" thing  

Electrongolf, you are right on. To add to your three key advantages, the sharing of BTC for p2p sales of game artifacts would hopefully make the "IRS Regulations" issue less murky. Of course, any game that has BTC transfers for their product is going to take a cut, so that might be an issue of it's own.

I think we could also take the concept of BitCoins to cheaper arcade style online games as well. If someone were to create a series of low CPU usage arcade games and provide winnings in BTC to high scorers each day, it may serve the purpose to advance the BTC money into mainstream. The arcade games could run BTC miners as part of the website in order to generate BTC. When the day ended, the site keeps a percentage and gives the day's high scorers a piece of the pie as well.

P.S. I'd do it myself, but I am swamped with other programming work.

And even if EVE does not adopt such a model, it would make sense to keep pushing the idea for games that are yet to be developed. Games are not created over night and I can assure you that many game developers are pondering the idea of using BTC. Besides, gamers are obviously better early adopters.

One note, the implementation of the idea may get a little dubious for bigger corporations, especially if they need to put down some sort of accounting record on the BTC exchanges (just like they have to do for barter exchanges right now). My guess is many more would adopt if they new accepting BTC would not be a potential land mine of IRS regulations.