User talk:MaikAskew

From Cellbe

Current revision as of 06:15, 1 March 2013

Mahmoud AhmedDear sir/madamGod day I want to ask about the rates (Egyptian) for Luxor to Aswan Nile cruise cdinioernsg.•4 stars or 5 stars standard room ship•4 nights / 5days cruise length.•2 adults and 1 infant in one room.•Sailing dates (16/17/18 Nov. 2011) please give me rates for all possible as I didn’t finalize the exact date for sailing.RegardsMahmoud

[edit] JrfiHprrXXvrzSwJF

New poster, but bitocin enthusiast (economics CS major, never have used bitocin)Nerd's argument centers around the idea that the exchange is not just an exchange but also a marketmaker, or counterparty. When you buy or sell, you don't know who the person on the other side of the transaction is. Furthermore, MtGox takes a portion of every single transaction, buy side and sell side. (Perhaps they act as a counterparty, but it will not be important in this case) If you buy bitocins, mtgox gets o.65% of the bitocin. If you sell bitocins, mtgox gets 0.65% USD. Over the past month, mtgox has exchanged 50000 bitocins a day, meaning 25000 BTCs to buyers, the equivalent in USD to sellers. This means that .65%*25000 = 162 bitocins a day. if you put this out over a year (roughly how long mtgox has operated), thats roughly 60,000 bticoins that MTgox has. Now, why would mtgox want to sit on these bitocins, when they are liable to be worth nothing at any point. After all its a fiat currency, it's only valuable if people think they are and can be exchange for goods and services. So, owner floods market with 60000 coins all at once, driving the price down, causing a panic, and buying up more at dirt cheap prices. I'm not saying this is what happened, I'm jsut saying it can.What happens with this currency is that since no central banks exist, exchanges become the de facto central bank. They take in BTCs per transaction fees. They can flood the market with them or buy them up at will. With only 6.5M in existance, and a 7800% appreciation rate over the past year, it's really not an unlikely scenario. And, the currency cannot really propogate without the exchanges. If you don't mine bitocins, how else will you get them. The exchange becomes the paypal or google checkout that bitocin tries to get around. Instead of paying a 2-6% commission fee for credit cards, you're paying a bid-ask spread that is passed to the consumer instead of the vendor. You're also dealing with currency volatility like no other, quite a deal more risky than a 2% credit card charge.As for it being a crypto currency, calling people who want bitocin to be anonymous nefarious or drug traffickers or whatever is baseless. I agree that it is suited for doing such things, but any more so than cash? I think less so. Some people like privacy because they don't like being tracked, not because they are doing something illegal. I'm a libertarian, I think gov't should be involved in as little as possible, and I don't like the idea that they can track my credit card purchases. I don't like that a credit card company can sell my credit card purchase history to online advertisers who now target my computer with adds for depression medication because I bought prozac, or the number of an abortion clinic because I paid for a pregnancy test.Furthermore, you'd have to go through an exchange to sell the coins if you were laundering or a drug dealer, and the exchange would log IP addresses, so in effect you could trace where the currency was going to and coming from. Just my 2 btcs.