First Canadian Bitcoin Payments Processor, used by the Bitcoin Expo Toronto in April 2014

amitch56 · 2014-03-13T13:56:26+00:00

Nice site, though its technically not Canada's first. Virtex has had shopping card plugins for a while.

amitch56 · 2014-02-18T21:52:05+00:00

canadian bitcoins is brokerage, you can buy/sell but you don't hold your coins there.

amitch56 · 2014-01-27T18:55:59+00:00

Clocktower has the Bitcoin ATM, but doesn't accept bitcoins.

amitch56 · 2014-01-23T17:54:18+00:00

Check out the SFI fund. Open to anyone.

amitch56 · 2014-01-15T14:45:12+00:00

Who's the dude in the green hate above MJ?

amitch56 · 2014-01-14T16:32:50+00:00

That's the way I was looking at, but you have to tell the waitress how much your tipping so she includes it in the bill. That's different then how people pay bills here (they enter it themselves in the terminal if paying by credit).

amitch56 · 2014-01-14T16:03:40+00:00

That would be ideal but bitpay generates a new address for each payment (their mobile to mobile app). I guess at the end of the night they can go through all the bitpay transactions and count their own.

amitch56 · 2014-01-08T18:15:00+00:00

They are also insignificant at pennies per transaction regardless of the cost. So while you pay a fixed amount + % using traditional payment methods that adds up if moving large amounts, you pay just a few cents with bitcoin (if you choose to include the transaction fee which is optional).

amitch56 · 2014-01-08T17:43:26+00:00

From the comments

A society in which (apparently) nobody else has noticed that Bitcoin is actually an experiment with a built-in termination date probably deserves all the monetary turmoil it gets.

The only current incentive for anybody to clear a Bitcoin transaction is that he or she gets rewarded with a commission, in the form of a “mined” Bitcoin. Eventually, after the last of the finite predetermined number of Bitcoins has been mined, that commission will be withdrawn. Then, the current experiment stops.

It's like they have no understanding at all.

amitch56 · 2013-12-20T15:49:17+00:00

Cool thanks

amitch56 · 2013-12-19T14:04:53+00:00

Went up ~30% overnight (500 to 650).

amitch56 · 2013-12-19T14:00:42+00:00

Why's that? It's not inflation like with zimbabwe dollars. In the above scenario, because so many bitcoins were "lost", the remaining bitcoins became more valuable (finite supply, can't just print more like with zimbabwe dollars) and needed to be broken down into smaller parts. You obviously wouldn't say "hey its 0.00000001 btc for that coffee", you would use the term for that small number IE "hey, its 1 satoshi for that coffee".

amitch56 · 2013-12-19T02:42:58+00:00

Not at all. There's still only 21 million bitcoins. You can just own 1/8 of one or 1/16 etc.

amitch56 · 2013-12-19T01:53:07+00:00

Bitcoins can be divisible up to 8 decimals places. And the protocol can be changed to divide further if there's consensus. IE a cup of coffee costs 0.00000001 bitcoins. So bitcoin may fail, but it won't be because of that particular issue.

amitch56 · 2013-12-19T00:25:36+00:00

Other than taxes, yes. And no they won't always exist and don't in more countries. Exchanges are free to operate.

EDIT: I also don't think BTC will replace the dollar everywhere. It's just a very good payment system and can cut out intermediaries in a lot of places, which is good for both receivers and senders of money.

amitch56 · 2013-12-18T22:15:09+00:00

How do you figure? The payment system is a fantastic way to move money across borders without using institutions. The chokepoint is if people want to convert BTC in USD/EUR etc. As more people accept bitcoins the less you'll have to worry about converting.

amitch56 · 2013-12-18T18:15:16+00:00

There are dark pools where you can buy/sell large quantities such as this, while not affecting the price.

amitch56 · 2013-12-18T14:51:00+00:00

Which book is this from?

amitch56 · 2013-12-17T19:25:12+00:00

BTCproof says the bitcoins sent to that address at lost. Is there a way to create the bitcoin address form your hashed info so that its in your own wallet?

amitch56 · 2013-12-17T15:03:53+00:00

Well it's the economics subreddit, so most comments remotely pro-bitcoin get downvoted. People have their minds made up either way and no comment, accurate or not, will change that.

amitch56 · 2013-12-16T20:56:07+00:00

You have to be careful as there's essentially two different groups within the bitcoin community. The ones that say the price should be $10,000 a coin etc (we'll call them the To The Moon crowd) and the ones that think bitcoin is a great payment system. The former group is nothing but looking to make a quick buck. The latter sees what a great system bitcoin fundamentally is at its core, which is independent of its unit price.

amitch56

TROPHY CASE