brimz
Bluelighter
I'm sure you would be equally pleased for me if the roles were reversed.
that's the million dollar question. In my PERSONAL opinion: they are already working in limited numbers while the people who have designed them "test run" the hardware aka mine a ton of coins. Some companies seem more shady than others, like I wouldnt go near Butterfly Labs at all.
If they are actually going to sell as many as have been preordered ("they" being the collective suppliers) then bitcoin is totally fucked IMO. Difficulty is going to be insane and everyone will be pissed off they just got sheisted into buying hardware to mine a currency on the decline.
As one currency declines another will rise as people look for the next thing. What that "next thing" is going to be is up in the air right now but if I knew what the hell you could spend Novacoins on I'd be a bit more unsettled over my decisions.
It's a pity I'm still not quite sure how illegal all this is or I'd go into further detail
bitstamp, is pretty epic for sepa, goes in next day
It's not illegal in the slightest to own or sell or discuss bitcoins.
...So many smug people who think they know exactly what they talking about.... Whether people realize it or not, the seeds of prosperity have already been sown.
Theyre acting like the coin is popular because of its fucking algorithm
Like yo, its because of drugs, that's it.
People buy bitcoins to buy drugs and people invest in bitcoins because they think the number of people buying drugs will increase (pretty solid bet, well throughout history really)
...It's just a front of legitimacy, but bitcoin will never be a part of everyday society because:
-it's too annoying to acquire
-most people do not understand the nature of how cryptocurrencies work(and don't care)
-anonymous is good for some things yet completely unnecessary in most transactions
-confirm time is too long to be viable in physical retail stores (What are you going to do wait for an hour at the cash register?)
-Tax issues
I mean I guess you could have like a bitcoin credit card to erase the confirm issue, but with the volatility and general anonymity of bitcoins I dont see how you could run a business for that without asking a large amount of personal information, which goes against the whole point of the coins in the fast place.
...
Process is still the same:
Buy coins -> send to website-> buy drugs
...there's no such thing as bad exposure, just ask "that website"
What are the fees involved from the UK?
Excellent post Shimanzu, those points above especially you are absolutely bang on with. I've not looked into Litecoins so much so I don't know much about them, I know of them ofcourse. Bitcoin is indeed definately manipulated by a few groups at the top though.
like 80p from bitstamp and 2 quid from bank