I'm thinking what the subject of my next Bitcoin thread will be

[Dirty F]

Any suggestions?
I think i covered most of it already...

[Harmon]

[Mike Honcho]

[Penny24Seven]

how bitcoins saved global warming?

[Juicy D. Links]

I am gonna jam my cock in your mouth if i here bitcoin from you again and youll swallow!!!

[MikeRoth]

how about LTC to the moon!

[DamianJ]

How about:

"I know none of you care about bitcoins, but here is another thread to troll people"

?

[MikeRoth]

Originally Posted by DamianJ

How about:

"I know none of you care about bitcoins, but here is another thread to troll people"

?

If you bought some bitcoin when he first mentioned it you would have made a quick 80% return in 1-2 weeks. Doesn't sound like a troll to me.

[dyna mo]

hey Dirty F, thanks for bringing attention to bitcoins around here.

[DWB]

Originally Posted by MikeRoth

If you bought some bitcoin when he first mentioned it you would have made a quick 80% return in 1-2 weeks. Doesn't sound like a troll to me.

People only make money when they cash out. Just about everyone I've seen post on various boards claim to be long term for btc and are not actually cashing out, hoping it will continue to climb.

Having money in it is more or less meaningless until the day you cash out. So the better comment is, if you cashed out today you would have around an 80% return. Which is fantastic.

I wonder who had the nads to put in 10k, 20k, 50k+ back when it was low.

[MaDalton]

so you can cash out max. $1000 a day?

[spiederman]

You can cash out howmuch u want

[dyna mo]

Originally Posted by MaDalton

so you can cash out max. $1000 a day?

that's correct for mtgox, i am not entirely sure about the other exchanges.

[dyna mo]

Originally Posted by MaDalton

so you can cash out max. $1000 a day?

Withdrawals


All methods below are subject to a withdrawal limit of 1000 USD per 24hr period and 10000 USD per 30 Day period:



Bitcoin - Everyone.

Dwolla - Only for US citizens who have a verified account with us.

Technocash - Only for Australian residents who have a verified account.

International Wire - For the rest of the world and you do not need to be verified. However, we cannot send USD to Serbia, Croatia and Belarus due to our bank`s prohibition of sending USD to certain countries.

Japanese Domestic Transfer - Only for Japanese residents who have a verified account with us.

Liberty Reserve- Through Aurumxchange

OKPay - Everyone who has an OkPay account can use this.

SEPA - For verified accounts and those who wish to send funds in EUR only.



Increasing Transaction Limits


If you wish to increase your withdrawal limit you will need to send us a copy of your official government photo ID (such as a scan of your passport and/or drivers license) plus a copy of your utility bill (private) or corporate information (company).



If you wish to proceed, please Click Here and be sure to fill out the form completely.



We will review your document and increase your withdraw limit based on your risk profile.



**If you are sending a scan of your drivers license in a language other than english, we may require you to get a notarized translation of it before we can raise your limits.

https://support.mtgox.com/entries/20...s-and-Deposits

[MikeRoth]

Originally Posted by DWB

People only make money when they cash out. Just about everyone I've seen post on various boards claim to be long term for btc and are not actually cashing out, hoping it will continue to climb.

Having money in it is more or less meaningless until the day you cash out. So the better comment is, if you cashed out today you would have around an 80% return. Which is fantastic.

I wonder who had the nads to put in 10k, 20k, 50k+ back when it was low.

haha, well yes, you're correct, :p

MTGox has a cashout limit for withdrawing USD, but you can still sell the bitcoins for as much USD as you want and store it on MTGox. You'll just have to slowly withdrawal it.

[MaDalton]

sounds like Epassporte - lol

[Konda]

Currently at $190!

Originally Posted by DWB

People only make money when they cash out. Just about everyone I've seen post on various boards claim to be long term for btc and are not actually cashing out, hoping it will continue to climb.

Having money in it is more or less meaningless until the day you cash out. So the better comment is, if you cashed out today you would have around an 80% return. Which is fantastic.

I cashed out most of mine at $94, which I kinda regret now, but still made a great return.
And I still have some left, so not complaining.

Also, for those that do not know how it works exactly, there is a difference between withdrawing and selling the Bitcoins. You can sell your Bitcoins at any time at the current exchange rate, which is instant. You then have the value as USD in your account, so there is no risk anymore in the exchange rate going down. Your USD balance will remain as it is. You can then withdrawal it to your bank account(s) and other methods they offer.

So if you have 10K USD in your account and your withdrawal limit is 1K per day, you just withdrawal 1K a day for 10 days in a row, since you already have your balance in USD there is no risk in the amount going down if the bitcoin value happens to go down or something.

[Sly]

One of the strong arguments I have seen for bitcoins is that there is no government involvement. Based on the above, you need to send this company/organization/whatever your government documents in order to pull out more than $10,000 a month.

If the government is not involved, why would you need to provide government documents? If the government is not involved and these people do not need to follow any government-based regulations/laws, why on earth would you send them your government documents?

[dyna mo]

Originally Posted by Dirty F

Any suggestions?
I think i covered most of it already...

perhaps thoughts on the next 30 days, 6 months, 12, 3 years of btc?

[pornguy]

" Bit coins and you " an in depth study.


Go for it.

[dyna mo]

Originally Posted by Sly

One of the strong arguments I have seen for bitcoins is that there is no government involvement. Based on the above, you need to send this company/organization/whatever your government documents in order to pull out more than $10,000 a month.

If the government is not involved, why would you need to provide government documents? If the government is not involved and these people do not need to follow any government-based regulations/laws, why on earth would you send them your government documents?

they do need to follow government regs + there is much shenanigans with people trying to run scams on exchanges.

[pornguy]

" Bit coins and you " an in depth study.


Go for it.

[Dirty F]

Originally Posted by MaDalton

so you can cash out max. $1000 a day?

Only if you aren't verified. If you send your docs you can cash out more.

[Ringo]

please define bitcoin in a word

[Sly]

Originally Posted by dyna mo

they do need to follow government regs + there is much shenanigans with people trying to run scams on exchanges.

So the American government is involved after all? Interesting.

[Konda]

Originally Posted by Sly

One of the strong arguments I have seen for bitcoins is that there is no government involvement. Based on the above, you need to send this company/organization/whatever your government documents in order to pull out more than $10,000 a month.

If the government is not involved, why would you need to provide government documents? If the government is not involved and these people do not need to follow any government-based regulations/laws, why on earth would you send them your government documents?

Those exchange companies are like financial services, it is most likely the law in their country to comply with "know your customer" rules and regulation if they want to offer financial services legally trough that country (by using bank accounts there etc)

Like for example https://bitcoin-central.net/ has their official financial services licence in France, so they have to comply with the laws and rules there.

It also creates more trust. You wouldn't just put like $10K in some exchange service that has no rules and regulations.

[dyna mo]

Originally Posted by Sly

So the American government is involved after all? Interesting.

yes, it's legitimate now.

FinCEN Issues Guidance On Virtual Currencies

http://www.jdsupra.com/legalnews/fin...-curren-09722/

On March 18, FinCEN issued guidance to clarify the applicability of Bank Secrecy Act regulations to persons creating, obtaining, distributing, exchanging, accepting, or transmitting virtual currencies. FinCEN clarifies that a person that obtains a virtual currency to purchase goods or service (a ?user?) does not fit within the regulatory definition of a money transmission service, and therefore is not subject to the relevant regulations. However, a person engaged as a business in the exchange of virtual currency for real currency, funds, or other virtual currency (an ?exchanger?), and a person engaged as a business in issuing a virtual currency, and who has the authority to redeem such virtual currency (an ?administrator?), generally are considered money transmitters under FinCEN?s regulations if they (i) accept and transmit a convertible virtual currency or (ii) buy or sell convertible virtual currency for any reason. The guidance reviews FinCEN?s specific determinations regarding different activities involving virtual currencies and the appropriate regulatory treatment of administrators and exchangers under each of the scenarios. Specifically, the guidance addresses (i) brokers and dealers of e-currencies and e-precious metals; (ii) centralized convertible virtual currencies; and (iii) de-centralized convertible virtual currencies.

[Frank21]

How about: Bitcoins the biggest pyramid game since social security?

[Dirty F]

Originally Posted by MaDalton

sounds like Epassporte - lol

Only to people who have no clue about the subject. And refuse to read 2 minutes about it and instead post in every thread to bash something they don't understand

[Konda]

Originally Posted by Sly

So the American government is involved after all? Interesting.

If you use legal trade and exchange services they follow regulations.
There are plenty of ways to do it completely anonymous, but if you want to trade big amounts with trusted services, you'd have to send in some IDs and address verification etc just like with any bank.

[Dirty F]

Bitcoin threads are popular.

[Konda]

Originally Posted by Frank21

How about: Bitcoins the biggest pyramid game since social security?

Nothing pyramid about it, no one makes (more) money if others use or buy bitcoins.
Only way to make money if is the exchange rate goes up, but then everyone makes money. Just like with any other currency.

[dyna mo]

Originally Posted by Frank21

How about: Bitcoins the biggest pyramid game since social security?

btc is the most fantastic social experiment i've ever come across. it makes fb look silly.


and the best part about it is you can choose to support it and invest in it at the same time. before the big *bubble*

speculating on btc is truly putting your money where your mouth is. people investing now in btc are true risk takers and put their own cash up in a show of support and only HOPE to make a roi. 90+% of the time, it's a loss, so when a win comes, the profits are nothing to make fun of.

[spiederman]

franck do you have an ebay account? you should start selling satoshi's, even more valueble then trading bitcoins
http://www.ebay.co.uk/itm/1-BITCOIN-...-/200911620774
http://offer.ebay.co.uk/ws/eBayISAPI...m=200911620774

[MaDalton]

Originally Posted by Dirty F

Only to people who have no clue about the subject. And refuse to read 2 minutes about it and instead post in every thread to bash something they don't understand

did i take your shovel again?

so you see no resemblance with Epassporte where you had to send your docs to get a higher withdrawal limit?

and anyways

[Dirty F]

Originally Posted by MaDalton

did i take your shovel again?

so you see no resemblance with Epassporte where you had to send your docs to get a higher withdrawal limit?

and anyways

Your bank looks just like Epassporte.
Don't see the resemblance?

[dyna mo]

here's a good read on where venture capital sees potential btc markets
http://techcrunch.com/2013/04/05/why...about-bitcoin/

key points::::::

I see the opportunity for Bitcoin to disrupt multi-billion-dollar markets, but in doing so also create new big markets. There are three key markets in Bitcoin:

Wallet. Holding your Bitcoins for you, serving some of the checking account functions of a bank.

Exchange. Converting from USD to Bitcoins and back.

Payments. Helping merchants accept Bitcoins for their transactions.

HOW DO WE GET THERE?

All of these market-sizing analyses require a 2 to 2.5 order of magnitude increase over current levels. Those same metrics have shown a 1 to 1.5x order of magnitude increase in the last year, so it doesn?t stretch the imagination to think that it might be possible.

The other way that Bitcoin may become mainstream is in countries where the currency or financial system is already more volatile than Bitcoin.

Mainstream adoption will require bright line regulatory compliance by all elements of the Bitcoin ecosystem. That is why last month?s guidance on virtual currencies from FinCEN (part of the U.S. Treasury) caused Bitcoin prices to go up. As Bitcoin gets closer to the U.S. regulatory umbrella, it moves closer to legitimacy. These rules and the ones that will follow will increase the overhead costs of all players in the space, but that is a small price to pay for legitimacy.

The risks associated with Bitcoin are worth mentioning as well. The six biggest hacking, theft and fraud incidents involving Bitcoin exchanges, wallets, or investment vehicles have resulted in a total 1.2 million Bitcoins being stolen, out of a total of 11 million Bitcoins in existence. This means that more than 10 percent of all Bitcoin has been stolen, and this does not include many smaller thefts and losses from individual wallets. Just this week, another wallet service was shut down after suffering an attack. Given this environment, Bitcoin startups cannot remain bootstrapped for long and will need to raise more substantial capital from VCs to mitigate these risks with better security and proactive regulatory functions.

[Vapid - BANNED FOR LIFE]

Thousands a minute, woof.

[woj]

Originally Posted by dyna mo

"The risks associated with Bitcoin are worth mentioning as well. The six biggest hacking, theft and fraud incidents involving Bitcoin exchanges, wallets, or investment vehicles have resulted in a total 1.2 million Bitcoins being stolen, out of a total of 11 million Bitcoins in existence. This means that more than 10 percent of all Bitcoin has been stolen, and this does not include many smaller thefts and losses from individual wallets. Just this week, another wallet service was shut down after suffering an attack. Given this environment, Bitcoin startups cannot remain bootstrapped for long and will need to raise more substantial capital from VCs to mitigate these risks with better security and proactive regulatory functions."

translation: oh, and by the way $200 Million worth of bitcoins were stolen so far, even though only .00000001% of the world's population use it and that only includes big known heists, but hey, nothing to worry about, they'll just need to beef up the security a little...

[MaDalton]

Originally Posted by Dirty F

Your bank looks just like Epassporte.
Don't see the resemblance?

my bank is 50 meter from here, i can go there and complain and don't need to book a trip to British Virgin Islands

[dyna mo]

Originally Posted by woj

translation: oh, and by the way $200 Million worth of bitcoins were stolen so far, even though only .00000001% of the world's population use it and that only includes big known heists, but hey, nothing to worry about, they'll just need to beef up the security a little...

start-ups hemorrhage cash, as a vc, i assume he's looking at the security issues as a start-up issue cash leak that is solvable.

also, i was reading the comments to the article, one of them stated the actual amount is 5%, not the 10%.

nevertheless, i'm not trying to get anybody to buy in, it's all an incredible risk, but it's all very fascinating. whatever happens, the infrastructure and awareness are being put in place and will remain regardless of what happens to btc.

[Double trouble]

" Bitcoins official thread "

[mineistaken]

Originally Posted by Dirty F

I think i covered most of it already...

So no more bitcoin threads from you?
Thats would be nice

[mineistaken]

Originally Posted by Konda

Nothing pyramid about it, no one makes (more) money if others use or buy bitcoins.
Only way to make money if is the exchange rate goes up, but then everyone makes money. Just like with any other currency.

Yes, just like any other currency which value goes up by 100s % in days or weeks.
Thats of course very natural, just like any other currency.

[DWB]

Originally Posted by Dirty F

Only if you aren't verified. If you send your docs you can cash out more.

Hold on....

So if you want to cash out more than $1000 a day (or $10,000 a month), you give up being anonymous?

That 10k limit is the same thing banks have to deal with, so there is no anonymity in that at all if I understand what you are saying correctly.

I guess it's not a big deal for guys just buying dope or whatever, but for those of you trying to get in and out and ride the wave, that seems like a big hurdle if you're playing with any amount of real money.