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Just bought one :)


I can see him right now if I use Incognito.... Maybe cdn / caching issues?


Yeah, let's help people track me wherever I go... ;(


Love the "fast" approach!

Now, it only it was a convertible note, possibly discounted but a convertible note...


Why?


Variability on the initial maturity of the startup, mostly.

Reduction of adverse selection on your side, also.

Based on your historic numbers, would it be a significant cap on your upside?


To get the potential of a better than $1m valuation is my guess.


Very interesting, often a source of insights into what's really going on.

Plus, he's rarely wrong


Had exactly the same Heeeey moment :)


nothing, another abort.


How is nobody come live with an effortless solution yet? I mean, credit card and go... ??


Credit card transactions are reversible and the numbers are easy to steal, so it would be too easy to scam an exchange in this way. It's just as hard to convert local currency into any other currency, so it's not really unique to Bitcoin, and it probably won't get much more "effortless".


Except, that's how every store on the internet works, and they're doing fine.


It is easier to write anti-fraud algorithms for other goods: If you want to buy stuff and ship to Romania with a US credit card, that will raise a lot of read flags I'd imagine. You also have to resell the goods which is probably quite a hassle. There are of course a things that are almost as good as money, like gold and stuff, but the sellers of that probably have their algos set for very few false positives.

Google anti fraud api, it is quite interesting.


> If you want to buy stuff and ship to Romania with a US credit card, that will raise a lot of read flags I'd imagine

I'd imagine that would be a shitty algorithm.


All of which is ironic as it so clearly demonstrates the need for a system like Bitcoin!


I think the way you could probably do this is that you could let people buy using credit cards, but then not actually give them the bitcoins until the credit card chargeback timeline expired. The risk is obviously that as the exchange operator you become a bitcoin speculator because you're holding bitcoins that may not end up being paid for by a customer, so not a good idea with the volatility we are seeing, but I think that's the only way credit cards would work.


Isn't that period something like 60 days for some credit card companies? That doesn't sound feasible at all.


I think it depends on why people are buying the coins. If they are buying them to hold them, then it does not really matter. I think there are a lot of people out there who just want to quickly grab some Bitcoins and hold them for the long term. Often times for those people their biggest concern is getting in before it goes up any more, so this would be a solution for them.


But if you're going to be holding onto them for years, an extra couple minutes to link your bank account to Coinbase shouldn't be a big deal. The difference in price over the initial two day validation period is going to be negligible over the course of 5 years.


Coinbase seems to be incompatible with my bank account (a credit union).


It's 6-12 months.


And wait 6 months? No thanks.


I see. Thanks


Noone in their right mind would accept credit cards as a payment for the things he can't wrestle from you back.


Credit card chargebacks would wipe anyone out who was naive enough to try that.

I think in the UK debit card payments are meant/are to be non-reversible. Couldn't find a clear answer on this though.


Nope, in the UK, debit card payments tend to be part of the chargeback scheme.

http://www.which.co.uk/consumer-rights/problem/how-do-i-use-...


Just love to see things like this. Makes me wonder what it was like to look at those huge rockets for the apollo missions...


I was eight, and it was awesome. And I don't mean the kind of "awesome" people use these days when they find out the fries don't cost extra; I mean the "inspiring actual jaw-dropping awe" kind we used back then. Scale made no sense; it was huge in ways that rockets (who hasn't fired a rocket of some kind as a kid?) shouldn't be, and your brain told you that it wasn't up to walking speed yet when it cleared the tower, so it was definitely coming back down any second now. Unfortunately, the best I could come up with at the time was "ho... ly... cow!!!"


I'm about your age and, yeah ... at this remove I'd use the word majestic, how the huge Saturn V stack would slowly start climbing and accelerating.

Compared to later programs, there's also a "wow" in that NASA was "going to put some men on the moon", vs. the "space truck" paradigm of the Shuttle and other launches which at best send probes to far off planets and such. A different scale in every way.


Well, it's drawing 200kW form the input, and the other 800kW from harvesting radiowaves and alien probes, I guess.


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