Updated with:
Bitpay partners with 3dcart
http://btcbible.com/bitpay-partners-with-3dcart/
TLDR Bitcoin now available as a payment option to 16,000 new merchants
Topic: Fundamental analysis thread - page 2. (Read 19912 times)
...
Kshs 444bn was deposited into M-PESA via agents.
Kshs 390bn was withdrawn from M-PESA via agent.
..
Kshs 444bn was deposited into M-PESA via agents.
Kshs 390bn was withdrawn from M-PESA via agent.
..
Difference is 54 billion (something). I guess this consists of expansion of money supply and fees. This is the reason why god, king, nations, big companies and just about everyone else wants to start their own regulated money system.
Also on the reddit post:
Gotta love how the US will be left in the dust. Why? "Regulatory action." Sigh. Sometimes is sucks to be an American.
Quote
We are currently actively blocking both US IP addresses and Phone numbers from the wallet.
We may support US in the future but we don't want to risk our target audience by exposing ourselves to regulatory action by either the US or individual states.
We may support US in the future but we don't want to risk our target audience by exposing ourselves to regulatory action by either the US or individual states.
Gotta love how the US will be left in the dust. Why? "Regulatory action." Sigh. Sometimes is sucks to be an American.
Updated with:
Bitcoin finally coming to Africa to compete with M-Pesa
http://www.reddit.com/r/Bitcoin/comments/1hn0ue/kipochi_launches_first_bitcoin_wallet_in_africa/
TLDR A SMS/ web hybrid system is being developed now which will reach the place where bitcoin has the most potential for organic growth.
Info on M-Pesa:
M-PESA now Contributes 18% of Safaricom’s total revenue.
M-PESA revenue grew by 29.5% to 21.84 billion.
M-PESA now has 10.5 million active users.
There are 65,547 M-PESA agents. 26,000 M-PESA agents were added in the last financial year.
Kshs 522bn was transacted between customers within M-PESA.
Kshs 444bn was deposited into M-PESA via agents.
Kshs 390bn was withdrawn from M-PESA via agent.
32% of airtime top-ups were done directly through M-PESA.
Bitcoin finally coming to Africa to compete with M-Pesa
http://www.reddit.com/r/Bitcoin/comments/1hn0ue/kipochi_launches_first_bitcoin_wallet_in_africa/
TLDR A SMS/ web hybrid system is being developed now which will reach the place where bitcoin has the most potential for organic growth.
Info on M-Pesa:
M-PESA now Contributes 18% of Safaricom’s total revenue.
M-PESA revenue grew by 29.5% to 21.84 billion.
M-PESA now has 10.5 million active users.
There are 65,547 M-PESA agents. 26,000 M-PESA agents were added in the last financial year.
Kshs 522bn was transacted between customers within M-PESA.
Kshs 444bn was deposited into M-PESA via agents.
Kshs 390bn was withdrawn from M-PESA via agent.
32% of airtime top-ups were done directly through M-PESA.
On the Reddit link:
Quote
There is some knowledge of it amongst more educated people. But ordinary people I explain it to instinctively understand the concept and benefits, without questioning the technical aspects too much.
But no doubt our primary job is one of education in the beginning.
But no doubt our primary job is one of education in the beginning.
I think once people can start using it, even if they don't fully understand why or how it works, they will see the benefit of it. I suppose it does not really matter if they understand why it is a safe and effective tool. For that matter, how many of us have been using our countries fiat and not really understanding how that money is created and/or manipulated?
This is really great news for BTC and Africa.
Updated with:
Bitcoin finally coming to Africa to compete with M-Pesa
http://www.reddit.com/r/Bitcoin/comments/1hn0ue/kipochi_launches_first_bitcoin_wallet_in_africa/
TLDR A SMS/ web hybrid system is being developed now which will reach the place where bitcoin has the most potential for organic growth.
Info on M-Pesa:
M-PESA now Contributes 18% of Safaricom’s total revenue.
M-PESA revenue grew by 29.5% to 21.84 billion.
M-PESA now has 10.5 million active users.
There are 65,547 M-PESA agents. 26,000 M-PESA agents were added in the last financial year.
Kshs 522bn was transacted between customers within M-PESA.
Kshs 444bn was deposited into M-PESA via agents.
Kshs 390bn was withdrawn from M-PESA via agent.
32% of airtime top-ups were done directly through M-PESA.
Bitcoin finally coming to Africa to compete with M-Pesa
http://www.reddit.com/r/Bitcoin/comments/1hn0ue/kipochi_launches_first_bitcoin_wallet_in_africa/
TLDR A SMS/ web hybrid system is being developed now which will reach the place where bitcoin has the most potential for organic growth.
Info on M-Pesa:
M-PESA now Contributes 18% of Safaricom’s total revenue.
M-PESA revenue grew by 29.5% to 21.84 billion.
M-PESA now has 10.5 million active users.
There are 65,547 M-PESA agents. 26,000 M-PESA agents were added in the last financial year.
Kshs 522bn was transacted between customers within M-PESA.
Kshs 444bn was deposited into M-PESA via agents.
Kshs 390bn was withdrawn from M-PESA via agent.
32% of airtime top-ups were done directly through M-PESA.
Updated with the winklevii info:
Bitcoin ETF coming soon
http://www.pcworld.com/article/2043473/winklevoss-twins-will-secure-bitcoins-like-gold-in-vaults.html
TLDR You will soon be able to purchase bitcoin derivatives from your stock broker
Bitcoin ETF coming soon
http://www.pcworld.com/article/2043473/winklevoss-twins-will-secure-bitcoins-like-gold-in-vaults.html
TLDR You will soon be able to purchase bitcoin derivatives from your stock broker
hero member
Activity: 756
Merit: 500
It's all fun and games until somebody loses an eye
Government of Germany declares capital gains from bitcoins tax-free if bitcoins were held for more than a year.
Quote
According to German news site Die Welt, financial expert Frank Schaeffler stated: “It is good that investment in bitcoins is finally [a] legal certainty. Private profits from the sale of bitcoins are tax-free after one year”.
http://www.coindesk.com/german-government-relieves-capital-gains-tax-on-bitcoin-positions/Wishful thinking on the gov't's part, that anyone would declare such sales in under a year . . .
Making false statements that involve Bitcoin is rather tricky due to the public ledger. It won't be long before your Revenue Agency learns this, and from that point on your strategy will depend on luck, unless you exchange for cash or spend coins directly. Even then you need to count on your trading partner not reporting the transaction.
There is one sticking point, though: bitcoins are fungible. Thus, you could always claim to have sold at least some of the "old" coins, as long as you've been trading for over a year.
But if you buy and sell on an exchange, then those coins are not in the public ledger, they are just on the internal database of the exchange. And if you do some bitcoin mixing between exchanges, then it could be rather tricky for the government to pin down what you did and whether it is different than you claim.
Government of Germany declares capital gains from bitcoins tax-free if bitcoins were held for more than a year.
Quote
According to German news site Die Welt, financial expert Frank Schaeffler stated: “It is good that investment in bitcoins is finally [a] legal certainty. Private profits from the sale of bitcoins are tax-free after one year”.
http://www.coindesk.com/german-government-relieves-capital-gains-tax-on-bitcoin-positions/Wishful thinking on the gov't's part, that anyone would declare such sales in under a year . . .
Making false statements that involve Bitcoin is rather tricky due to the public ledger. It won't be long before your Revenue Agency learns this, and from that point on your strategy will depend on luck, unless you exchange for cash or spend coins directly. Even then you need to count on your trading partner not reporting the transaction.
There is one sticking point, though: bitcoins are fungible. Thus, you could always claim to have sold at least some of the "old" coins, as long as you've been trading for over a year.
this has been discussed at length in the german forums. It seems we have to do fifo accounting (first in first out). You always sell the oldest coins. You can't choose which coins you sell when you make a sell on some exchange. You always sell the coins you bought earliest (and calculate your gain from the price difference), even if the coins are in a paper wallet. This is a huge probelm for daytraders who have trading volume per year greater than their overall holdings. In other words: it seems you can't put some of the bitcoins into a safe and trade with the rest on an exchange, then later (after 1 year in the safe) sell those bitcoins from the safe with no tax.
Government of Germany declares capital gains from bitcoins tax-free if bitcoins were held for more than a year.
Quote
According to German news site Die Welt, financial expert Frank Schaeffler stated: “It is good that investment in bitcoins is finally [a] legal certainty. Private profits from the sale of bitcoins are tax-free after one year”.
http://www.coindesk.com/german-government-relieves-capital-gains-tax-on-bitcoin-positions/Wishful thinking on the gov't's part, that anyone would declare such sales in under a year . . .
Making false statements that involve Bitcoin is rather tricky due to the public ledger. It won't be long before your Revenue Agency learns this, and from that point on your strategy will depend on luck, unless you exchange for cash or spend coins directly. Even then you need to count on your trading partner not reporting the transaction.
There is one sticking point, though: bitcoins are fungible. Thus, you could always claim to have sold at least some of the "old" coins, as long as you've been trading for over a year.
this has been discussed at length in the german forums. It seems we have to do fifo accounting (first in first out). You always sell the oldest coins. You can't choose which coins you sell when you make a sell on some exchange. You always sell the coins you bought earliest (and calculate your gain from the price difference), even if the coins are in a paper wallet. This is a huge probelm for daytraders who have trading volume per year greater than their overall holdings. In other words: it seems you can't put some of the bitcoins into a safe and trade with the rest on an exchange, then later (after 1 year in the safe) sell those bitcoins from the safe with no tax.
Quote
There is one sticking point, though: bitcoins are fungible. Thus, you could always claim to have sold at least some of the "old" coins, as long as you've been trading for over a year.
^ exactly
Government of Germany declares capital gains from bitcoins tax-free if bitcoins were held for more than a year.
Quote
According to German news site Die Welt, financial expert Frank Schaeffler stated: “It is good that investment in bitcoins is finally [a] legal certainty. Private profits from the sale of bitcoins are tax-free after one year”.
http://www.coindesk.com/german-government-relieves-capital-gains-tax-on-bitcoin-positions/Wishful thinking on the gov't's part, that anyone would declare such sales in under a year . . .
Making false statements that involve Bitcoin is rather tricky due to the public ledger. It won't be long before your Revenue Agency learns this, and from that point on your strategy will depend on luck, unless you exchange for cash or spend coins directly. Even then you need to count on your trading partner not reporting the transaction.
There is one sticking point, though: bitcoins are fungible. Thus, you could always claim to have sold at least some of the "old" coins, as long as you've been trading for over a year.
figured I'd repost here for relevance
http://www.nhforliberty.com/ron-helwig-discusses-shire-silver-and-bitcoin-at-2013-nh-liberty-forum/
This guy, Ron Helwig, really gets it. I'm glad he's a part of the Free State Project, something I am seriously considering in the future, maybe even as just as a first home.
Well said. Perhaps Bitcoin holders will see free zones spring up that encourage crypto use and effect better exchange value.
http://www.nhforliberty.com/ron-helwig-discusses-shire-silver-and-bitcoin-at-2013-nh-liberty-forum/
This guy, Ron Helwig, really gets it. I'm glad he's a part of the Free State Project, something I am seriously considering in the future, maybe even as just as a first home.
Quote
"And of course, we do accept bitcoins for the Shire Silver, and we've gotten several orders for that. So people who are a little unsure about bitcoins can easily convert them to sound money by buying some Shire Silver!"
"So how do you answer the question that Bitcoin is sound money?"
"Actually, if you think about it, it probably is, to extent that, getting into the whole semantic argument, 'let's be a pure Austrian', all that stuff. Bitcoin either proves via Mises's regression theorem by having an actual value in its utility as a means of exchange, or it disproves Mises' theorem, in which case, is to me, a moot point. But the fact that it's mathematically limited to the 21 million bitcoins, means its essentially sound by mathematics, as opposed to silver and gold, it's sound by physics. Physics limits the amount of gold and silver available, mathematics limits the amount of bitcoins available."
"So how do you answer the question that Bitcoin is sound money?"
"Actually, if you think about it, it probably is, to extent that, getting into the whole semantic argument, 'let's be a pure Austrian', all that stuff. Bitcoin either proves via Mises's regression theorem by having an actual value in its utility as a means of exchange, or it disproves Mises' theorem, in which case, is to me, a moot point. But the fact that it's mathematically limited to the 21 million bitcoins, means its essentially sound by mathematics, as opposed to silver and gold, it's sound by physics. Physics limits the amount of gold and silver available, mathematics limits the amount of bitcoins available."
Staffing site "Outbounders" adds Bitcoin option:
http://www.finextra.com/News/Announcement.aspx?pressreleaseid=50521&topic=retail
Quote
" International payments are a problem when it comes to small transactions. First banks like Paypal take their cut of 3%. Then when we convert USD to other currencies we take another 2% - 3% hit. And sometimes they also incur a fee on their side to withdraw it. By accepting Bitcoin and paying in Bitcoin we can make much smaller payments, more frequently and save on the transaction fees on all sides. In the near future this will enable us to pay out staff on a DAILY basis, which of course staff will love; this is unheard of right now." Says Outbounders.com CEO, James Stinson.
http://www.finextra.com/News/Announcement.aspx?pressreleaseid=50521&topic=retail
This is great. I did not see this in the press release forum. I am going to add it there if you don't mind.
Government of Germany declares capital gains from bitcoins tax-free if bitcoins were held for more than a year.
Quote
According to German news site Die Welt, financial expert Frank Schaeffler stated: “It is good that investment in bitcoins is finally [a] legal certainty. Private profits from the sale of bitcoins are tax-free after one year”.
http://www.coindesk.com/german-government-relieves-capital-gains-tax-on-bitcoin-positions/Wishful thinking on the gov't's part, that anyone would declare such sales in under a year . . .
Staffing site "Outbounders" adds Bitcoin option:
http://www.finextra.com/News/Announcement.aspx?pressreleaseid=50521&topic=retail
Quote
" International payments are a problem when it comes to small transactions. First banks like Paypal take their cut of 3%. Then when we convert USD to other currencies we take another 2% - 3% hit. And sometimes they also incur a fee on their side to withdraw it. By accepting Bitcoin and paying in Bitcoin we can make much smaller payments, more frequently and save on the transaction fees on all sides. In the near future this will enable us to pay out staff on a DAILY basis, which of course staff will love; this is unheard of right now." Says Outbounders.com CEO, James Stinson.
http://www.finextra.com/News/Announcement.aspx?pressreleaseid=50521&topic=retail
Either way, it's a hard statistic to perfectly quantify. I think we can agree on that
I thought the statistic was that 9 out of 10 first businesses fail. Entrepreneurs' second and third businesses seem to do a lot better, maybe because the first failure disabused them of their initial naïve notions.
It may seem slow now looking forward, but I'd say going from a brand new currency four years ago to a $1.1 billion dollar market today is pretty damn impressive. Yes, some bitcoin businesses are succeeding, others are failing. That's totally normal. Remember that something like 90% of businesses that are started fail, so this isn't any different than any different market.
Sort of irrelevant from your point, but from my entrepreneurship class the idea that an overwhelming majority of new business fail is actually a myth
Quote from: Donald F. Kuratko
It is true that many entrepreneurs suffer a number of failures before they are successful. They follow the adage "If at first you don't succeed, try, try, again." In fact, failure can teach many lessons to those willing to learn and often leads to future successes. This is clearly shown by the corridor principle, which states that with every venture launched, new and unintended opportunities often arise. The 3M Corporation invented Post-it notes using a glue that had not been strong enough for its intended use. Rather than throw away the glue, the company focused on finding another use for it and, in the process, developed a multimillion-dollar product. Yet, the statistics of entrepreneurial failure rates have been misleading over the years. In fact, one researcher, Bruce A. Kirchoff, has reported that the "high failure rate" most commonly accepted may be misleading. Tracing 814,000 businesses started in 1977, Kirchoff found that more than 50 percent were still surviving under their original owners or new owners. Additionally, 28 percent voluntarily closed down, and only 18 percent actually "failed" in the sense of leaving behind outstanding liabilities. 12
Interesting, thanks for correcting my misconception. I'm curious about this now. Some cursory googling shows mixed results, a few sites back up what I thought, while a few agree with what you said about most succeeding.
It may seem slow now looking forward, but I'd say going from a brand new currency four years ago to a $1.1 billion dollar market today is pretty damn impressive. Yes, some bitcoin businesses are succeeding, others are failing. That's totally normal. Remember that something like 90% of businesses that are started fail, so this isn't any different than any different market.
Sort of irrelevant from your point, but from my entrepreneurship class the idea that an overwhelming majority of new business fail is actually a myth
Quote from: Donald F. Kuratko
It is true that many entrepreneurs suffer a number of failures before they are successful. They follow the adage "If at first you don't succeed, try, try, again." In fact, failure can teach many lessons to those willing to learn and often leads to future successes. This is clearly shown by the corridor principle, which states that with every venture launched, new and unintended opportunities often arise. The 3M Corporation invented Post-it notes using a glue that had not been strong enough for its intended use. Rather than throw away the glue, the company focused on finding another use for it and, in the process, developed a multimillion-dollar product. Yet, the statistics of entrepreneurial failure rates have been misleading over the years. In fact, one researcher, Bruce A. Kirchoff, has reported that the "high failure rate" most commonly accepted may be misleading. Tracing 814,000 businesses started in 1977, Kirchoff found that more than 50 percent were still surviving under their original owners or new owners. Additionally, 28 percent voluntarily closed down, and only 18 percent actually "failed" in the sense of leaving behind outstanding liabilities. 12
It all depends on time frame, eventually all businesses "fail"...
It may seem slow now looking forward, but I'd say going from a brand new currency four years ago to a $1.1 billion dollar market today is pretty damn impressive. Yes, some bitcoin businesses are succeeding, others are failing. That's totally normal. Remember that something like 90% of businesses that are started fail, so this isn't any different than any different market.
Sort of irrelevant from your point, but from my entrepreneurship class the idea that an overwhelming majority of new business fail is actually a myth
Quote from: Donald F. Kuratko
It is true that many entrepreneurs suffer a number of failures before they are successful. They follow the adage "If at first you don't succeed, try, try, again." In fact, failure can teach many lessons to those willing to learn and often leads to future successes. This is clearly shown by the corridor principle, which states that with every venture launched, new and unintended opportunities often arise. The 3M Corporation invented Post-it notes using a glue that had not been strong enough for its intended use. Rather than throw away the glue, the company focused on finding another use for it and, in the process, developed a multimillion-dollar product. Yet, the statistics of entrepreneurial failure rates have been misleading over the years. In fact, one researcher, Bruce A. Kirchoff, has reported that the "high failure rate" most commonly accepted may be misleading. Tracing 814,000 businesses started in 1977, Kirchoff found that more than 50 percent were still surviving under their original owners or new owners. Additionally, 28 percent voluntarily closed down, and only 18 percent actually "failed" in the sense of leaving behind outstanding liabilities. 12
Jump to: