Indonesia Supported Bitcoin For Years

As the Western developed nations strangle bitcoin by the throat, using methods they proclaimed are used by dictatorship, “bad non-capitalist non-free people”, that they themselves are using – shutting down bank account, seizing bank accounts, and murdering Dr Che Guevara in cold blooded inhumane way (and *inanimal* way since animals never invented, nor intended to be killed using the device called a pistol or gun) – you see, there are still faint glimmers of civilization left in this barbaric slaughterhouse that was once known as humanity.

Indonesia – in the island of Bali, bitcoins are going strongly. See this bitcoin.co.id

Some factors that contribute to the acceptance and proliferation of bitcoin:

There are many foreign owned restaurants, pizzeria, hotels, lodging, airbnbs, retired expats, digital nomads, artists, freelancers, yoginis, surfer boys, living in the Bali. Or living intermittently, indefinitely.

The rupiah, the Indonesian Rupiah have had a volatile past. Hyperinflation, devaluation, as can easily seen from the number of zeros on a average piece of note. For a bare nasi meal with egg and some vegetables, it is ten thousand – no doubt ten thousand rupiah. Alas, the detestable OECD person trumpeting “it is only less than 75 US cents!! OMG, it is so cheap!” Very despicable, diabolical in fact.

A short history:

  • in 1949, upon Kemerdekaan Indonesia, it was 3.8 rupiah to $1 USD
  • in 1952, it was 11.4 rupiah to $1 USD (down 300% in 3 years)
  • in 1959, it was 45 rupiah to $1 USD (down 390% in 7 years)
  • in 2017, it is 13000 rupiah to $1 USD (down 28888% in 58 years)
  • More reading: Wikipedia Rupiah

How is this all going to play out? The longer this goes on, the lower it gets. The hardworking average farmer who knows nothing, likely suffered for years for generations. And the rich Eat Pray Love girl comes and trumpets – everything is so cheap, cost less than 1 USD. The big spenders from Australia, can just hop on an airplane that costs the safe price as the taxi ride from his suburban Perth house to the airport, to land in Bali, do unlimited surfing, eating unlimited numbers of pizza, and steak, party all night along Kuta, finding easy targets – simply because their Australian dollar is worth ten thousand times.

For others, they can keep working, keep quiet. Keep getting skewered by government policies, by corruption, by inter-governmental corruption, by corruption from advanced nations taking their resources via underhand tactics yet shown as legit, legal and acceptable – but for some others, there is a choice now.

It is to put their savings, their sunlight energy, into bitcoins.

 “A page-turner with meticulous research that burrows deep into the archives of recently declassified documents to tell the full story of how Che Guevara was hunted and killed.” —Jane Franklin, historian and author of Cuba and the U.S. Empire

“Michael Ratner and Michael Smith, relying on newly disclosed government documents, have exposed what many of us who worked as reporters in Latin America long suspected—the CIA ordered the assassination of the revolutionary leader Ernesto ‘Che’ Guevera. . . . Washington has attempted to hide. Now it cannot.” —Chris Hedges, Pulitzer Prize–winning New York Times reporter and author of Unspeakable: Chris Hedges on the Most Forbidden Topics in America

“A stinging indictment of a government hell-bent on silencing an extraordinary humanitarian leader. This eye-opening gem of a book—with riveting original source materials—is a must-read for all seeking the truth behind Che Guevara’s assassination.” —Heidi Boghosian, cohost of Law and Disorder

https://www.amazon.com/Who-Killed-Che-Away-Murder/dp/193592849X

Advertisements

Buy Bitcoins From Remitano

  • Comparable to Localbitcoins
  • Interface is simple to understand
  • Helpdesk is always at hand
  • Verification of phone or documents are optional
  • Your country of residence is not revealed in your profile after verification – which works well for people who want a better privacy, yet showing that they are honest buyers and have done due verification process
  • When Buying, select from a list of sellers
  • Optionally hide sellers that are currently offline – though if their advertisement is active, it means they have Bitcoins in Remitano’s system
  • What this means is that even if you click Buy, and Seller is Offline, they will be informed immediately and they must response in a given time that is much shorter than Localbitcoins
  • After clicking Buy, select via a scrolling arrow box or directly key-in the amount in BTC required, then proceed and a timer will appear
  • You can key-in your own Receiving Address (e.g. from Blockchain.info)
  • You have 15 minutes to comply to pay – the timer starts ticking
  • Naturally, if you are confident, you can complete this fast via online banking
  • The interface is simple as mentioned earlier due to this fact above – Sellers would have written the online banks they accept, and it is clear cut
  • Quick Quiz – see if you understand the line below:
  • Selling 1000 GBP/BTC via Barclays PLC. Maximum 2.05 BTC, pretty_kiera
  • Pretty_kiera is selling bitcoins at cost of 1000 GBP (British Pounds) using Barclays PLC online bank. The maximum amount she/he is willing to sell is 2.05 BTC
  • This is clear cut – if you have Barclays PLC and buying from her would be so much faster since you have same bank, likely you have tried sending payments online to another Barclays PLC. Even if you did not, you would feel more comfortable.
  • If you think back with Localbitcoins, some users will hide their bank payment until you click Buy
  • Then some sellers will take a time to reply with their bank, or even surprise you with some KYC / AML request which is quite an invasion of privacy
  • Once you have paid online, you should take a screenshot of your banking page with the confirmed transfer of money – they click “Paid”
  • Then a new timer appears for the seller
  • There is no chat box, document attachment field
  • Then within minutes before the timer runs out, the bitcoins will have arrived
  • With BlockChain.info’s Receiving Address, the bitcoins went directly there after flashing for half a second on the top left corner of your page, showing the incoming total, then zero (since it left Remitano and went to your Blockchain.info wallet)
  • Very fast, and no further fees when it arrived

remitano-review

Security is top. User friendly login:

  • Remitano’s user profile and login mechanism is unique.
  • You register using your email.
  • There is no password.
  • When you want to re-login, input your email.
  • The newly generated login code is in your email.
  • Click your email link from Remitano to login.
  • It expires in 5 minutes.
  • No password to remember, no password to lose, no passwords to reset.
  • The security makes sense. Your email is you.
  • Within the interface, there is optional 2FA activation via Authy.
  • With that, even if your email is temporarily compromised, nobody can login.
  • Besides that, your bitcoins bought will be immediately transferred out.
  • There is no holding of a buyer’s coins (though it is possible to let them create a wallet).

May 2017: After 3 months of using and comparing with Localbitcoins:
Localbitcoins introduced or modified their user status into a “Typically replies within minutes” against previously “User is online”. This had created new problems. Buyers would assume a seller is online (Green status). And hence starts a Buy Order. If the seller does not display the banking details / payment details, then the buyer keeps waiting, unsure if the seller is serious or keeping mum for no apparent reasons.

Some seller may have accidentally placed a lower price, or bitcoin prices jumped higher. Then that’s a good reason to keep mum and hope the timer pasts 90 minutes and the trade is cancelled.

This doesn’t happen in Remitano. The seller by design of the Remitano system, has already keyed in the correct bank details while setting up the trade. The bank name is shown in the listing page. This is excellent. A buyer can choose seller by the bank. Since intuitively, we want to be buying from the seller who uses the same bank as we do, because it gives a fine layer of confidence. If anything untowards happen, within the same bank, it can get clarified quickly.

What LocalBitcoins did was introduce a layer of uncertainty, that now Remitano is able to fix. In Remitano, it’s quick, concise. There is no extra text chat boxes to talk about the weather. You click Buy, you see the actual final value required, the bank used, then seller’s bank account, the very reasonable time limit to complete. Once completed, the seller has a very reasonable time limit to check, and release the coins. The ratings page is clear and effective. There is enough cordial playground to be gracious. Yet not too much excess space for trolling, or writing unnecessarily.

Update 2nd August: Remitano will charge a fee of 0.001 btc whenever you transfer/ withdraw your bitcoins out onto your own cold storage. This just happened recently in the middle of July. Previously there was no fee. This could be a temporary fee.

10k Satoshi Pizza

Once upon a time, the first thing that was sold on eBay was a broken laser pointer.

The very first item sold on eBay was a broken laser pointer for $14.83. Astonished, Omidyar contacted the winning bidder and asked if he understood that the laser pointer was broken. In his responding email, the buyer explained: “I’m a collector of broken laser pointers.”

Once upon a time, the first real goods sold using bitcoins was a ten thousand (10,000) Bitcoin pizza.

Now ten thousand bitcoins can probably buy you a Pizza joint. A restaurant. A fast food store.

piz

So I took the liberty to return to this root incident. Asking this:
When will a 10,000 Satoshi pizza be sold? Or viably, reasonably be able to be offered and sold?

Currently, 100,000,000 Satoshi equals 1 bitcoin. One hundred million.

Ten thousand Satoshi is valued (currently Feb 2017) at USD $0.1165440000. (taken from 99bitcoins.com) https://99bitcoins.com/satoshi-usd-converter/

That is not a probable acceptable price for an average pizza. (Or is it? Since price is created in the mind!)

Let’s raise the ante. One hundred thousand S (100k) would be moving one decimal point. That would equal USD $1.16. Still too low.

Raising one more, 1 million S, would be $10.16 USD. That is perhaps alright. Well it was alright for most Americans, Japanese, or Australians, or Canadians or British, but frankly 10 USD for a pizza is quite a high priced meal, on average across Asia.

For instance, you could eat 10 murtabak daging in Malaysia. That is a huge treat.

Or ten bowls of som tam in Thailand.

Though to keep things back into perspective, we now moved twice, two decimal points to get to an acceptable price. Two decimal points to the left means 100X – one hundred times – or literally multiply by 100. Times current value to 100.

Hence, if we use that to put a value to bitcoin’s true pizza potential:
100 X current price ( USD $1200) = USD$120,000 per bitcoin

That is a very luxurious goal. Then the next question is when will bitcoin find this equilibrium price to let us start our own decent pizza place?!

Some people estimate things from thin air. Some with proof. Some with pseudo proof. If you have any, feel free to write.

Now I am merely using some values that I heard over in Youtube. One guy mentioned from all the prices he had seen, it seems in the long run, price doubles every 4 months. Another said it should double yearly. Another said, it’s 9 months.

Let’s go for the long call. Doubling yearly.

That is about 7 years from today. 2017 + 7 = 2024.

When it is year 2024, feel free to look for me and buy a pizza from my restaurant. I have yet to think of a name for it. Plus I am open to partnership to open this restaurant, sell some delicious affordable pizza.

NOTE: Bitcoin Pizza Day is celebrated on 22nd May 2010. That was 7 years ago. What a coincidence. We have 7 more years to go.

 

How To Own A Tech Startup

Startups are a dime a dozen, or are they still in this new wave of Dot-com boom?

To be fair, this new phase is not merely dot-com. Mostly are apps based, things you use on your smartphone. Mostly are sharing-economy focused. Think Uber, Airbnb.

Some are taking the original titans at their own game. Think Lazada in South East Asia.

Funnelled ahead with the strong winds of ever-cheaper mobile devices, and incredible adoption of internet on mobile telecommunications line, we can think of the layers that are benefiting the most. Telco companies are raking supernormal profits, from data usage. Users are consuming youtube videos on their smartphones. Constantly checking their social media. They have become slaves.

To be a startup, you must have astonishing skills of being a manager, creator, people person. You have to find a suitable worker, that could be a co-creator splitting duties, then perhaps becoming a co-founder. Your idea must be workable. Must be amazing. Must disrupt the status quo. Think Whatsapp. It was the Paypal of communications. Paypal enabled payment by simply using a unique address – the recipient’s email address. Which means only one person owns an email address. There is only one bicyclehugger@buy.com

Hence whenever you send a payment from Paypal, it goes to that email, it goes into that person’s or recipient’s account.

Whatsapp simply is that. Each person who owns a mobile phone number, only will be the one who has access to that number, to the SMS, to the text, to be able to pick-up or slide that Green box to accept that call. Calling Person X at +838383838 will reach Person X. It won’t be accidentally routed to Person Q.

With that power, and network effect, and almost free cost (there was a phase where Whatsapp charged a yearly fee after the first year of usage – remember that?!), some tech billionaire saw that potential to control, or own people’s true identity. Each unique phone number is so unique that it could matter even life or death. A confirmation and non-repudiation that you are Person X.

Now, to be a startup needs such super niche idea to be successful, since over 80% of startups will close shop, will fail, even if you threw tons of money into it, it will fail. When there is no network effect it will fail too. Microsoft invested billions into Nokia to challenge the status quo, but never took off since the Android and IOS ecosystems were already in the advanced stages of the network effect. 80%-90% of users were already using it.

80% of people were already using eBay, when Yahoo Auctions tried to monetise. In fact, I remember, the first things I ever sold online where not in eBay, but via Yahoo Auctions. They had this thing going. Then gone.

Besides a great idea, you need to have enough funds. Enough money. Enough savings. Many startups are playing the wrong way, trying to get it quick and easy with a VC funding, which is fine. Though true powerful startups did it the tough way. Own money, own savings. Alibaba’s Jack Ma. AirBNB founders. They raise money, they saved money.

Then even if you have VC backed funding, it becomes a lot like that series – called Silicon Valley. Your talents are suppressed by politics. By money politics, investors. By lawyers, getting legal, regulations. You will get sued if you are getting slightly successful. Your co-founders could run away along with half the money, half the code.

You have to show growth. Your users must keep increasing as a sign of progress. It becomes like the economics of GDP. Every one must grow (which I totally disagree, see my other article on evils of GDP). GDP growth seeking is killing Mother Earth. Every fish is being fished. They are not being replenished. Crops are modified into monsters so they won’t die, won’t die from pesticides, and land cleared until they form dust storms in the middle of the USA. (read your history, it caused a huge migration of people)

2015-11-29-1448821418-4718017-startupglossary

Here is my proposal for being a (likely) successful startup:

– invest all your savings into Bitcoin
– Bitcoin has a good chance to grow in the next 3 years
– imagine investing all your time, money in a startup, you may not know too what will happen in 3 years
– all the above issues will not directly happen
– staff can run away with your code, since you have zero staff
– you won’t need to manage people, hire, fire
– you won’t need to cajole VC, play their game
– you won’t need to spend time making charts, investor meeting, showing user growth
– you won’t need to learn coding, or hire coders
– you won’t need to hire designers, heck you won’t need to own a dotcom or website, or web presence
– you just need to have perhaps Google+ or Facebook, or really frugal, just gmail.com
– you won’t need to spend on capital such as new computers, new laptops, new smartphones to test your apps, internet costs
– you won’t need to buy suits, dry-cleaning, black shoes, cocktail dresses(if you’re female)
– you won’t need to own a car to show you are capable of owning and moving around (you can just use Uber or you won’t need to in the first place)
– you won’t need to pay rent for a shop, rent for office, rent for PO Boxes, nor pay utility bills that are higher if it is a commercial lot
– you won’t need to create company events, parties, dinner, get-together
– you won’t need to pay for gifts for your workers for their wedding, birthdays, New Year, Year End
– you won’t need maintenance cost of managing the equipment, airconditioning, servers, furniture, coffee machine
– you won’t need to hire a cleaner to clean the office, clean the company car / van
– you won’t need to constantly keep all receipts to try to claim or off-set taxes
– you won’t need to overspend simply to show it can be placed into your tax-deductibles
– you won’t need to sell yourself (being fake) to try to get investors, users, friends
– you won’t need to pay taxes, company registrations, accountant to check and verify
– you won’t need to deal with blood sucking lawyers – since no rental agreements, no legal issues, no banking, no contract, no VC papers, no intellectual violations
= ALL OF THE ABOVE = alot alot alot of savings, capital, money, funds, that you could INVEST in your OWN startup now

“Taxpayer”is a diabolical word. Diabolical term. Diabolical label. Can you see it? If you were proud of being one, you certainly had been brainwashed. We are citizens. Not taxpayers, not killing machines (think soldiers being indoctrinated to “serve the country” where actually you can serve by not partaking in killing).

We are citizens of the world. We are citizens of Mother Earth. Serve her. Protect her.

SO now, your startup is all set. You could be buying 5 bitcoins or 10 bitcoins with your savings or projected savings.

If you need a goal, think of your age. If you’ve wasted 5 years of nothing in some military or dropout, or college that got you nowhere, or a health-harming job, then use that as a goal. 5 years, so get 5 bitcoins. Very easy goals to achieve.

You can think bigger or another perspective.

If you are 40, and wish to retire at 60. Then think of saving 20 bitcoins. When bitcoin is 3 times, or 10 times its value in 20 years. It will still be far more worthwhile than in stocks.

Or simply, if you are someone who have nothing to lose, yet all those startup ideas had evaporated, or had tried and failed, now you know you have a big chance of success, without ALL THOSE RISKS listed above. Then think or ask: how much should I put in, and give a small reasonable duration of 3 years – 4 years.

Andreas Antonopoulos – dropped everything, moved everything into bitcoin and has lived inside bitcoin for the good 4-5 years he has been involved in.