Topic: 1 (Read 5527 times)

This is a great idea! I'll have to ask him what he thinks of this but it sounds good in principle. Here is his Facebook profile and Bitcoin address, whose only two transactions thus far are paid by yours truly.

Yaaay   I'd absolutely love to see rapidly expanding Bitcoin economies in developing nations (see my related thread).  I'd like to support it.  This might be worth splitting the thread to discuss but I wonder if there's a relatively simple way by utilising the features of Bitcoin (that I barely understand) to have a reasonable chance of being able to donate to such a project without it being a 'project' with legal charity status and significant administration.

Just off the top of my head, using the above example, how about us offering 0.1 BTC gifts to your professor friend's friends - and to their friends?  So we'd have a thread here for people to post their addresses to which I (for one) would make a payment requiring the professor's signature to verify they are indeed his friends.  Of course this depends on contributors being content that you really do have a professor friend in Botswana whom you judge to be trustworthy enough to play his role that the recipients are within his local economy. Not that I'm doubting either but ideally we'd have a built in means of verifying this kind of thing too.  For it to work we'd need to have confidence it wasn't just someone creating multiple addresses to harvest others' good will; we'd need for it to be low enough maintenance for a volunteer (such as your professor friend) to be able to handle without disrupting his workday.

I can already see weaknesses but I haven't got the time to think it through properly right now.  Ideas?  Thoughts?

And NZ apologized to him for violating his rights...

Who can blame him? I'm hating on a lot of shitty mainstream games these days, not necessarily because of the gameplay anymore but more because of how poorly built they are.

No, after being denied bail initially, the decision to deny him bail was overturned and he's been out since February.

It is increasingly appearing that the only violations of criminal law in this case were by the police and New Zealand government.

This did not happen. As others have stated, it would be impossible to do this and not significantly move the price. There are folks running bots that anticipate large sell and buy orders already. I have problems buying just $1k worth in less than an hour without significantly moving the price, even without doing a market buy.

last i heard, wasn't he denied bail again? seems a little unjust :/

I like http://bitcoin.clarkmoody.com/ for exactly that.

Ente

He's all about personal gain. And I think he's reasonably smart. If price rise significantly, and he sells out slowly, he could even retire on that money...

MtGoxLive will show this:

http://mtgoxlive.com/orders

Except a $5mill order would make it go off the scale. $1mill is enough to shift the price to > $14 a btc

I call BS.

Cross referencing the last month:

http://bitcoincharts.com/charts/mtgoxUSD#rg30ztgSza1gSMAzm1g10za2gSMAzm2g21zv

For daily volume, with any two week period he would have made up the entire period's trading volume to acquire $5mill (if he was trading USD... which is the biggest BTC market)

mostly because commoners don't know the worth of a bitcoin

I don't remember the link but somewhere there's a web site that will calculate the price movement that a large order would cause based on the existing order book. The widget on bitcoincharts almost does this (but there's a better version somewhere), and using this I got that you could spend almost $5 million by buying 120020 BTC on Mt Gox.

"hey gaiz, word press just bought $25,000,000 in bitcoins"........i have no source but it must be true. 

I call BS, too. If it were true, it would be a good advise to sell now. A $5M purchase not getting the price to a new all time high would get me very very bearish.


OTOH if I ever plan to launch a multi-million dollar worth of bitcoin only business I sure as hell would make sure to get some bitcoins for myself or at least for my business.

You don't think that someone like him would be constantly on the look out for ways he might be able to hide the location and extent of his assets?  Remember that he had to get permission from the NZ High Court to borrow money to pay his legal bills earlier this year and to sell some of his assets.  I suspect that he'd rather not be in a similar situation in the future.

He'd be in a shitload of trouble if it became known to authorities that he'd somehow managed to use hidden assets to buy $5 million worth of Bitcoins so either this is a beat up or he's trusted the wrong people.

B.S

Unless the megabox comes with a bitcoin wallet containing some coins.

AFAIK Kim Dotcom's assets were all frozen and he is living on only 'small' amounts that the court grants him ... i.e. I don't think he has access to $5 million.

I've been facing similar issues. Can't even give away BTC0,10 or 0,25, as I've tried. I'm curious to see whether an offer of BTC25 would work, though! However, not all's lost. I've got a couple of friends/contacts on FB and G+ interested in BTC. Two of those friends live in the southern hemisphere, including one in Africa (Botswana). That my Botswanan friend is interested in Bitcoin doesn't surprise me, seeing as he's intelligent, a scientist in a national institute and posted earlier on FB complaining about the severe inflation rate of his local currency! Perfect foil for BTC. Hopefully he'll get some of his local friends in on the act and hey presto, an expanding BTC economy in Botswana.

I don't mind biting on that 0.1 BTC.