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Here comes 'the solution' - cashless?

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  • #31
    Re: Here comes 'the solution' - cashless?

    Originally posted by Andy View Post
    And I STILL don't get it!
    If it's not real currency then what good is an ATM?
    What if something costs less than one bitcoin? The value sitting at nearly $140 for one begs the question...how do I buy a pizza??

    Maybe I missed something.
    From Wiki...

    "clients can divide each BTC unit down to eight decimal places"

    What could you buy with .00000001 (one hundred millionth) of a bitcoin? It might take several of those to buy a pizza, even at $100,000 per bitcoin.

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    • #32
      Re: Here comes 'the solution' - cashless?

      The New York bar that takes Bitcoins

      http://money.cnn.com/2013/04/08/inve...l?iid=HP_River

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      • #33
        Re: Here comes 'the solution' - cashless?

        Just read an article on yahoo news.. can't quote it because it's an AP article, but the interesting fact from the article is that the price of bitcoins was soaring and hit $266 on Wednesday. Then Thursday something happened and the price plummeted to $40. Might have been a good time to buy if you happened to be watching it, because it has already rebounded to around $100.

        link

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        • #34
          Re: Here comes 'the solution' - cashless?

          There are rumors that Bitcoins was hacked; but according to this article, they were a "victim of their own success".

          "We would like to reassure you but no we were not last night victim of a DDoS but instead victim of our own success," the trading platform said in an earlier statement.
          It said 60,000 new accounts had been opened since the start of April, compared with 75,000 for the whole month of March. The statement also promised improvements in the service "to catch up with the demand".
          Source: http://www.telegraph.co.uk/finance/economics/9987664/Bitcoin-trading-halted-after-panic-sell-off.html

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          • #35
            Re: Here comes 'the solution' - cashless?

            Originally posted by MichaelJ View Post
            Just read an article on yahoo news.. can't quote it because it's an AP article, but the interesting fact from the article is that the price of bitcoins was soaring and hit $266 on Wednesday. Then Thursday something happened and the price plummeted to $40. Might have been a good time to buy if you happened to be watching it, because it has already rebounded to around $100.

            link
            I couldn't help but notice the logo shown on the picture of a Bitcoin: "VIRES IN NUMERIS", latin for "Strength in Numbers"

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            • #36
              Re: Here comes 'the solution' - cashless?

              Bumping older thread to post update

              Digital currency firms rush to adopt anti-money laundering rules

              These are unsettling times for digital currency businesses and the venture capitalists backing them.
              http://www.reuters.com/article/2013/...94U17X20130531

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              • #37
                Re: Here comes 'the solution' - cashless?

                That is an interesting article SAT (post #36). It looks like government control of the bitcoin is needed or "the bad guys will use it." Maybe they could eventually go to a global "mark" or something so the government can have control over every individual transaction?

                Issachar
                The church is on Earth to save souls from a lost world, not to save the world from lost souls.

                Man learns about history, not from history. To learn from history requires wisdom. Cut off from God, he has none, so history repeats; no new thing under the sun.

                I saw ten thousand talkers whose tongues were all broken - dylan

                Psalms 122:8 For my brethren and companions' sakes, I will now say, Peace be within thee.

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                • #38
                  Re: Here comes 'the solution' - cashless?

                  There is a trend happening out there. Exposing all the secret bank accounts. Getting internet currencies in line. Mexico is working to flip drug lords into legitimate business people. And of course the Vatican banking system is getting an overhaul and no longer will have secrecy or a place for money laundering.
                  They are passing world laws and exposing all the underground economic systems.

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                  • #39
                    Re: Here comes 'the solution' - cashless?

                    Hi SAT,

                    I was just reading this when I saw your post.

                    PS - the new Bank head is a member of the Sovereign Knights of Malta and Opus Dei

                    http://en.wikipedia.org/wiki/Soverei...Order_of_Malta

                    The Sovereign Military Order of Malta is headquartered in Rome, and is widely considered a sovereign subject of international law.[7]
                    http://www.foxnews.com/world/2013/05...o-holy-father/

                    The head of the Vatican bank says his main priority is to clean up the bank's reputation, saying the institution hasn't served the pope well enough but still provides valuable services to the Holy See and its clients
                    In an interview Friday with Vatican Radio, Von Freyberg said he had hired a leading anti-money laundering consultancy and a New York law firm to ensure that the bank complied with anti-money laundering and anti-terror financing standards. He also hired some public relations experts.
                    Last edited by cnav; 06-01-2013, 11:19 AM.

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                    • #40
                      Re: Here comes 'the solution' - cashless?

                      It is so amazing cnav. All these organizations that were mentioned from days of old in Christianity and the majority of people thought just toooo weird to be around today. But there they are still lurking around and worse???? rising to important positions.
                      Last edited by SAT; 06-01-2013, 11:57 AM.

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