What’s all the fuss about BitCoin? How does it work? Where can I exchange for some BitCoins? Where can I spend some? If you’ve wondering these things and more, Japhet of Nashua BitCoiners will explain it all to you at this week’s TekArts Open House. If you haven’t been to the newest shared shop in the Shire, stop on in Thursday, from 6PM on and take a look around. At 7:30, we’ll have the evenings presentation and a demonstration of how to spend it, even using your smart phone.
Our Thursday open houses (every week) are a relaxed casual time to meet new people and take a tour of the shop to see how we’re going with the build-out of the newest hackerspace in the Shire. Come anytime from 6-10PM to check it out. We’ll have the usual hot beverages and your favorite cold beverages, too. We’ll even have a guest chef in our little kitchenette so you won’t go hungry. At 7:30, Japhet will give us the full story on BitCoin and how we can start using them. Come on out to our clean, well-lighted place to “talk shop.”
Subscribe to our email list on the TekArts website,
Follow us on Twitter,
Join the TekArts Facebook group,
Watch our events on TekArtsTV,
Find us on Google Maps,
Register for events and classes,
Skype us @ TekArtsNH
To find out what else is going on at TekArts, go to our home page.
Subscribe!
Here’s the TekArtsTV video of the BitCoin presentation: http://www.justin.tv/tekarts/b/314048338 – Japhet says he’ll be glad to hold a later meeting to help people get set up to receive and spend BitCoins.
Ideally the concept is to revome the mess that has been created with factional reserve banking. Right now so much power is in the hands of the central banks. This power gives them the ability to control the amount of currency that is in circulation. In essence money is created out of thin air with no weight to it like the gold standard created. Money is built on trust in the value of that currency, which is very scary. You can even see in recent times how this type of system has created massive problems and will only get worse as time goes on. The only way I personally feel that currency can be fixed since we left the gold standard is to create a new currency with a relative value unit assigned to it. The relative value can be tied to something tangible. To supply a certain good or service it requires certain resources. Those resources being natural, human and others. For example it takes a specific amount of resources to produce a car. Machines, equipment, people working on it, natural resources like metal, plastics and time. These factors can be used to produce a RV for that car. Unfortunately I think there is so much money in circulation, that it would be near impossible to go back to the gold standard as there may not be enough gold available in circulation to match out the currency to. Why not create a balance of the commons of ALL available tangible resources and not just gold?The concepts I like of BitCoin are the fact that there is no central authority for currency. What you produce is what you own. You actually own that currency that you have produced using your resources and it has value based on the fact that others had to go through the same create that currency as you did. The idea of using CPU cycles is very geeky and not sustainable. The idea though that you have this resource and by using that resource you are producing something that holds value amongst those doing the same type of work place the value and trust in that currency. So when you go to work based on your education, work experience, skills, time spend doing your job, the actual work being done and even the value your employer feels you are worth to them can all be used as factors. That value of currency that you produce has no value that is set by factional reserve banking and the amount of currency in circulation. It is based on a true tangible asset like the gold standard used to be.Just my two cents.
trading is like a university eiacutdon, it requires on the order of 10 to 20 years to become proficient and you have to be ready to accept it as a full time career. With that said, the broker that I use is oanda. I use this broker mainly because it allows smaller lot sizes which allows me to be very flexible with my exposure.My recommendation- do not trade with less than 50k account. Do not trade live until you have risk capital (money that you will not need or regret losing) or minimum few years on paper accounts. research is a huge topic. Do not fall for technical analysis, it works in some situations, but the best bet would be to read the prices correctly via price patterns and timing. Do not trade during non farm payrolls or during tokyo and NY lunch hour. Trade during the overlap of US UK sessions for best liquidity. Watch for inflation levels, what central bankers say (and if what they are saying is just a warning or if they are serious about it).For example you would want to monitor the japanese central bank decisions right now because their is strong enough to make their bank sell it to lower the price to keep exports competitive. For CAD, watch for gold prices (oil is their major export). ect.FINALLY: the only way to make money in safely is with law of large numbers in terms of capitalization. You have to have an account upwards of 50 mil, so this is not a get rich quick thing. The real money lies in market making and dealing.
Here’s a list of the links mentioned in the talk:
http://www.bitcoin.org/
http://www.spendbitcoins.com/
http://www.instawallet.org/
http://ridleyreport.com/
http://www.freetalklive.com/
http://www.minethings.com/
https://www.bitinstant.com/
https://bit-pay.com/
http://www.facebook.com/groups/185130098262824/ <- nashua bitcoiners
also check out
http://www.libre.fm/ <- free radio supported by bitcoin dontations
Interesting Intro to BitCoin article: http://evoorhees.blogspot.com/2012/04/bitcoin-libertarian-introduction.html
First, you aren’t going to be a talking to a brkeor. With , you will have an account with a dealer who will be taking the other side of your trades.Second, since they are dealers, they make their money off the spread, not by charging fees or commissions.Third, they are not banks or brkeors, so there is no such thing as proper insurance .If you want to learn how the trades work google and you will see a list of dealers. Any legit dealer will give you a demo account free for 30 days.Since is not governed by law anybody can be a dealer, but all the legitimate ones voluntarily register with the National Futures Association even though they don’t have to because they are not actually futures brkeors.