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78 percent of Bitcoin currency stashed under digital mattress, study finds
ArsTechnica claims that about 78% of bitcoins are not in circulations. Is this True? What can we do about?
http://arstechnica.com/tech-policy/2012/10/78-percent-of-bitcoin-currency-stashed-under-digital-mattress-study-finds/
There needs to be a balance between spending and Saving. We all should be figuring ways to create valuable services and products that are only possible because of bitcoins. This will get people excited about bitcoins and get more transactions on bitcoins.
eBay now supports PayPal as only payment method. I really miss the days back when PayPal was not even required for seller. The eBay/PayPal mob charges at least 2 times when selling items - first for listing and second for receiving payment with PayPal.
PayPal is so oldschool and greedy that it must go away. From usability standpoint there is nothing better than Bitcoin.
PayPal is so oldschool and greedy that it must go away. From usability standpoint there is nothing better than Bitcoin.
So very True,
I'm tired of arguing about Mises' Regression Theorem and the definitions of money and currency.
We should just admit that Bitcoin isn't "real money" because it's better than money, just like how a web site is better than a newspaper.
This article is a perfect example of why - mere money can't do any of those things.
We should just admit that Bitcoin isn't "real money" because it's better than money, just like how a web site is better than a newspaper.
This article is a perfect example of why - mere money can't do any of those things.
+1
So true
Here is a great post about transaction types that may be possible now or in the future.
http://codinginmysleep.com/exotic-transaction-types-with-bitcoin/
I really like the Assurance Contracts because how it can be done without third parties.
While they never use the term itself on their site, the most commonly understood example of assurance contracts may well be the popular crowd-funding site KickStarter. For those not familiar, a KickStarter contract happens like this: The project founder submits their idea and the estimated amount of money it will take to make that idea a reality. If the combined value of all pledges is greater than or equal to the amount they specified, they get the money and start work on their project. If the value of all pledges isn't enough, they get nothing and the money goes back to all the investors. This is another transaction type that would be fairly easy to implement in Bitcoin, with the added bonus of not requiring any third parties.
http://codinginmysleep.com/exotic-transaction-types-with-bitcoin/
I really like the Assurance Contracts because how it can be done without third parties.
Quote
While they never use the term itself on their site, the most commonly understood example of assurance contracts may well be the popular crowd-funding site KickStarter. For those not familiar, a KickStarter contract happens like this: The project founder submits their idea and the estimated amount of money it will take to make that idea a reality. If the combined value of all pledges is greater than or equal to the amount they specified, they get the money and start work on their project. If the value of all pledges isn't enough, they get nothing and the money goes back to all the investors. This is another transaction type that would be fairly easy to implement in Bitcoin, with the added bonus of not requiring any third parties.
This is a hilarious story of the banking systems and mistakes that can happen.
http://www.ft.com/intl/cms/s/2/93a47a62-daf0-11e1-8074-00144feab49a.html#axzz22pxGpxqE
Re: This is HUGE: WIKISPEED, first car-maker in the world to accept Bitcoin
I think we are at the beginning of a new world. Wikispeed represents a new way of manufacturing and delivering high quality products to customers at a very affordable price. Bitcoins represents a new way to conduct commerce across the globe. I'm excited about all the possibilities that this new world will bring. I think Bitcoin and companies like Wikispeed are building a new platform where a new revolutions will take place. Something like the industrial revolution but at global scale and in a way we can't imagine.
The rise of Bitcoin businesses that we have not even thought of. Just like the internet has brought Facebook, twitter, web 1.0 and web 2.0 when Bitcoin is adopted by the masses new forms of economic activity will be created. Some of them we can't even imagine and may only be possible because of Bitcoin. I believe what is next is amazing.
Hello everyone!
I am thinking of opening a new service called the BitBank!
Essentially, it is a 24/7 online "bank" for bitcoin services.
If we open, we will offer:
Physical Bitcoins in Paper "checks" or metal "coins"
Exchange from Money Order to BTC
A free lottery you can enter, where the jackpot is 1 BTC
Secure storage for your Physical bitcoins in our fireproof safes, free when you buy a physical BTC
And Some other custom services.
I am thinking of opening a new service called the BitBank!
Essentially, it is a 24/7 online "bank" for bitcoin services.
If we open, we will offer:
Physical Bitcoins in Paper "checks" or metal "coins"
Exchange from Money Order to BTC
A free lottery you can enter, where the jackpot is 1 BTC
Secure storage for your Physical bitcoins in our fireproof safes, free when you buy a physical BTC
And Some other custom services.
What "Banking" services will be offering? According to Wikipedia "A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly or through capital markets. A bank connects customers that have capital deficits to customers with capital surpluses" (http://en.wikipedia.org/wiki/Bank). I have no idea how traditional banking services could be offered through Bitcoins.
What fees are you thinking of charging?
site down or not working
This forum and its users have been very helpful to me as newbie learning about Bitcoins. I have been mulling over an idea of making it possible for anyone to purchase Bitcoins at a retail location .
The idea resolves around buying non refundable credit from a retail store. Something like Money Pak or something similar. Unlike money Pak there would be no service charge for the purchase. Once the purchase was complete then you would go online with the code to complete your bitcoin purchases.
Questions:
1. Is there anybody or company offering the ability to purchase Bitcoin via cash transactions at a retail store?
2. What are the advantages for offering this services?
3. What are the disadvantages for offering a service like this?
4. What would be a fair fee for offering such a services. At the present moment the service provider is charging 2% to 4% per transaction. So any fee charged would have to be on top of that fee.
5. Is it better to have your own Bitcoin client on your server or purchase bit coin as need from exchanges like Mtgox for security reasons.
The idea resolves around buying non refundable credit from a retail store. Something like Money Pak or something similar. Unlike money Pak there would be no service charge for the purchase. Once the purchase was complete then you would go online with the code to complete your bitcoin purchases.
Questions:
1. Is there anybody or company offering the ability to purchase Bitcoin via cash transactions at a retail store?
2. What are the advantages for offering this services?
3. What are the disadvantages for offering a service like this?
4. What would be a fair fee for offering such a services. At the present moment the service provider is charging 2% to 4% per transaction. So any fee charged would have to be on top of that fee.
5. Is it better to have your own Bitcoin client on your server or purchase bit coin as need from exchanges like Mtgox for security reasons.