ashray

16 ms·

121.
by ashray 13y ago
The problem with these talks are that from a developing country's perspective it looks like developed nations used cheap energy to get ahead. Now they want to curb usage of cheap energy in developing nations because: 1. Suddenly, they&
122.
by ashray 13y ago
How many of those 'requirements' are because of powerful entities abusing the system? What are the forces that have caused those requirements to arise with traditional currencies? Did you mean inflationary spiral for Southern Euro
123.
by ashray 13y ago
True, and bitcoin does stick to this norm. The rate of bitcoin production is predictable for the next 100+ years. More can be produced with more effort, it's just not as easy as printing notes. So it is adjustable and it is growing. Th
124.
by ashray 13y ago
Thanks for adding that, I am of course personally aware that these discussions have taken place time and again on bitcointalk. I meant to say that these problems have been exposed more by the general press, etc. lately. There are other issu
125.
by ashray 13y ago
There are limitations because the exchanges are not that liquid. There are no hard limitations as such. People have been converting $2-3MM from bitcoins easily but larger numbers will still be hard to convert at the current price. This conv
126.
by ashray 13y ago
Hi, I suggest that you check out bitpay.com They will bill your customers in bitcoin and will transfer out USD to you so that you don't have to worry about the exchange rate at all. You setup your items in USD as well and they handle t
127.
by ashray 13y ago
The analysis in this article is so flawed that it's hard to take it seriously. A more balanced analysis might have helped. Sure, bitcoin has several terrible characteristics that have been exposed over the past few weeks (volatility, t
128.
by ashray 13y ago
Great write up! Only fools think that a $100 investment in bitcoin today will turn them into millionaires. This has to do with risk vs reward. A $100 investment in 2009 may have turned people into millionaires but at that time the chances o
129.
by ashray 13y ago
There are very few direct ways in which you can currently use bitcoin, I completely agree with that. People are using indirect ways now though, for example, a lot of people are using target gift cards bought off gyft to make their grocery p
130.
by ashray 13y ago
If you want to cash out to USD or Euros I run a service http://bitcoinsaresexy.com - you can cash out to amazon gift cards or even paypal money and then buy whatever you like ;) Edit: really ? downvotes on this ? why ?
131.
by ashray 13y ago
The problem with your premise is that you are taking up bitcoin and trying to fit it into today's world view where banks lend out YOUR money for relatively high interest and give you some interest if you're lucky. Now, you have to
132.
by ashray 13y ago
Most exchanges will ask you to buy at least $1 worth of bitcoins so that pushes your figure to about 0.001 BTC as a minimum purchase. However, you can certainly use them with up to 8 decimal places.
133.
by ashray 13y ago
This is a valid question. One that I think about often. It's not easy to predict the valuation. For that, we would need to know how much business is done in bitcoin in the future. That's anyone's guess. Will it do $1 trillion
134.
by ashray 13y ago
I don't really consider bitcoin to be the absolute solution. But it's certainly flexible enough to be a great solution. With increasing transaction volumes the bitcoin network is lately having some issues confirming transactions w
135.
by ashray 13y ago
This was just because of that single $147MM transaction yesterday. Of course it's great because this shows bitcoin can sustain a small number of high volume transactions. Unfortunately one of the biggest challenges the bitcoin network
136.
by ashray 13y ago
There should be, if they chose to withdraw their bitcoins from Gox. But assuming that the article is right, there would be another transaction that moves the money from their private wallet to bitstamp/another exchange as well. Basical
137.
by ashray 13y ago
If the Chinese regulators are so smart and capital controls are so tight, then how would the Chinese get money out via bitcoin ? What about the entire paper trail: a) from bank deposits/tenpay deposits to BTC China where they convert t
138.
by ashray 13y ago
That's actually an interesting point. It's possible that people on BTC China are not in fact moving their bitcoins out of the exchange and selling them on another exchange to launder money. They're possibly holding bitcoins i
139.
by ashray 13y ago
Markets tend to price in future usage. Are there indications that bitcoins will be extremely valuable in the future ? Yes. Is there progress being made every day with bitcoins ? Yes. Is there global potential for bitcoin to be used as some
140.
by ashray 13y ago
This. I've been trying to explain to people on r/bitcoin and r/bitcoinmarkets that I'm pretty sure that the Chinese have well polished ways and means of getting money out of China, in spite of capital controls. When the
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by ashray 13y ago
What do you mean doesn't leave the system ? If I were to exchange yuan for USD at a currency exchange/bank, they would keep the yuan and give me USD. The yuan wouldn't get destroyed and lose value or leave the system. It woul
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by ashray 13y ago
Yes, but what about point of sale purchases? It's worth it for merchants to let you pay for beer or food using bitcoin.
143.
by ashray 13y ago
MtGox withdrawal issues are huge. I wouldn't downplay their issues at all. Speaking from personal experience I had a $10,000 June/July withdrawal stuck for 8 weeks. Customer service wouldn't give any timeline. After a lot of
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by ashray 13y ago
Chinese demand is currently driving global demand. They seem to love it.
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by ashray 13y ago
I've made about $15k buying low and selling high but the current run has pushed me into hold mode. I don't know when this is going to top out but it's fun to watch. It's not at all hard to buy and sell now as opposed to
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by ashray 13y ago
Case in point: I hold quite a few bitcoins. I am waiting to sell them. The deciding moment will be when my mom mentions bitcoins to me the first time. That will be the trigger ;)
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by ashray 13y ago
Applied! Hoping to see what you guys think and even if I don't get selected some detailed feedback would be great!
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by ashray 13y ago
This touches a personal chord. My dad recently died of IPF and while its not in the same category as cancer I'd say its a terrible journey to have a disease that literally takes your breath away, and not in a good way. I personally und
149.
by ashray 13y ago
Well, due process used in this context normally means innocent until proven guilty. Unfortunately the approach taken in this instance is the reverse 'guilty until proven innocent' or worse 'guilty and that's it'. Ye
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by ashray 13y ago
Due process went out of the window a long time ago when the US showed everyone that it is certainly possible and even admissible to seize domains without any sort of process. The US (department of homeland security, no less!) started seizin

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