101–110 of 474 posts
Earlier quoted context omitted.
Apparently people think its the Winklevoss' since they claimed to have bought ~1% of all BTC and the amount moved nicely coincides with about 1%
So if this currency does become ubiquitous the Winklevoss' will be the kings of the world? God dammit.
www.winklevoss.com
The original social network.
That's nothing, someone owns (owned) six million litecoins: http://ltc.block-explorer.com/address/LTpYZG19YmfvY2bBDYtCKp...
Consider this: They paid $0.00 for the transfer of $150 million dollars. A direct (i.e. not based on third party credit, regulations, etc.) transfer of wealth of this magnitude between two entities usually consists of a heavily guarded, insured, physical shipment of cash or gold. Depending how safely you want to make the transfer, and how far the entities are on the globe, it can cost hundreds of thousands to million…
A slight correction, he paid zero fee. The 0.5 bitcoin is change, that he got back. You can see the fee amount further down the page. If he had paid a fee, 0.0001 BTC, or $0.04 worth of BTC, would have been enough to ensure the transaction was included in the next block.
Earlier quoted context omitted.
Or why it would be ideal to be used by the government - so we could track how they move money around, prevent corruption and generally keep an eye on the untrustworthy ones.
Let's say that you pay for Virgin Galactic ticket - that will be a fairly large transaction pointing to your wallet. Someone will be able connect the dots and find out that you also bought Viagra, and a penis enlargement pump. Do you really want that connected to you? Another case - you buy something from one of the stores that accept bitcoins. That store may have the address of your bitcoin wallet. They will be able…
every transaction has a new 'address' (if you choose to.. and this is what happens by default); so when i send a tx to virgin; no one (other than virgin and anyone they tell) will know i sent a tx to virgin.
wallets are made up of lists of addresses; so while the network analysis can be done it is actually no where near the issue you seem to believe it is
Consider this: They paid $0.00 for the transfer of $150 million dollars. A direct (i.e. not based on third party credit, regulations, etc.) transfer of wealth of this magnitude between two entities usually consists of a heavily guarded, insured, physical shipment of cash or gold. Depending how safely you want to make the transfer, and how far the entities are on the globe, it can cost hundreds of thousands to million…
>between two entities usually consists of a heavily guarded, insured, physical shipment of cash or gold. Err, life isn't a james bond movie. For money transfer like this we use bank wires. We dont buy gold and ship it on gunships anymore.
Earlier quoted context omitted.
I wonder if it is an early miner, or a certain black pirate...
Apparently people think its the Winklevoss' since they claimed to have bought ~1% of all BTC and the amount moved nicely coincides with about 1%
Consider this: They paid $0.00 for the transfer of $150 million dollars. A direct (i.e. not based on third party credit, regulations, etc.) transfer of wealth of this magnitude between two entities usually consists of a heavily guarded, insured, physical shipment of cash or gold. Depending how safely you want to make the transfer, and how far the entities are on the globe, it can cost hundreds of thousands to million…
https://en.bitcoin.it/wiki/Transaction_fees
Not that $350 would have meant much - your point stands and is well taken. I was convinced of this money transmission use case as the most important when I was writing up something on Bitcoin a while back and talked with a few experts. They were all psyched about this kind of thing, not about "you can buy your groceries with a bitcoin card" stuff, which will have better solutions than this. Global liquidity is what it adds, really.
Well, this is just another reason why bitcoin will not work - you can track money changing hands.. Certain three letter agencies would have not trouble tracking most of the transfers, all over the world.
i love this this is just another reason why bitcoin will not work 5 years later; several orders of magnitude later, so many arbitrary "milestones" met (parity with dollar, can i buy airplane tickets with it?, well we'll see when the government recognizes it) when do you decide that bitcoin 'works'? i mean; it is absolutely undeniable 100% certainly no-matter-what-you-say currently working RIGHT NOW; the mental disson…
Consider this: They paid $0.00 for the transfer of $150 million dollars. A direct (i.e. not based on third party credit, regulations, etc.) transfer of wealth of this magnitude between two entities usually consists of a heavily guarded, insured, physical shipment of cash or gold. Depending how safely you want to make the transfer, and how far the entities are on the globe, it can cost hundreds of thousands to million…
>between two entities usually consists of a heavily guarded, insured, physical shipment of cash or gold. Err, life isn't a james bond movie. For money transfer like this we use bank wires. We dont buy gold and ship it on gunships anymore.
If someone in Argentina wanted to buy something from anywhere else in the world in 2000, for example, they'd basically have to trade natural resources or gold for access to foreign currency, and then spend that.
Consider this: They paid $0.00 for the transfer of $150 million dollars. A direct (i.e. not based on third party credit, regulations, etc.) transfer of wealth of this magnitude between two entities usually consists of a heavily guarded, insured, physical shipment of cash or gold. Depending how safely you want to make the transfer, and how far the entities are on the globe, it can cost hundreds of thousands to million…