First Bitcoin ATM heading to Cyprus | Page 2 | TigerDroppings.com
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Lsut81
USA Fan
Member since Jun 2005
65660 posts

re: First Bitcoin ATM heading to Cyprus

quote:

Then you would see why the Cypriot citizens would want to use a Bitcoin ATM.



So someone is going to put 100k+ into bitcoins?



joshnorris14
Florida Fan
Florida
Member since Jan 2009
21470 posts

re: First Bitcoin ATM heading to Cyprus
quote:

So someone is going to put 100k+ into bitcoins?


Not what I was referring to. Last week they couldn't get there money out of their bank accounts fast enough.


Lsut81
USA Fan
Member since Jun 2005
65660 posts

re: First Bitcoin ATM heading to Cyprus
quote:

Not what I was referring to. Last week they couldn't get there money out of their bank accounts fast enough.



Did the govt take anyones money?



StrangeBrew
LSU Fan
Salvation Army-Thanks Obama
Member since May 2009
14105 posts

re: First Bitcoin ATM heading to Cyprus
What are Ron Paul's views on BitCoin's?

Does he take them in payment for his racist newsletter that he knows nothing about? Does he take them as donations for his never ending political career? Does he take them in payment for his services rendered as a country physician? Would he have take them in payment for his service to his country in Vietnam?
This post was edited on 3/25 at 1:55 pm


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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: First Bitcoin ATM heading to Cyprus
quote:


Did the govt take anyones money?


Not yet. But the banks were shut down for a week. And the government put limits on ATM withdrawls (100 euro per day limit, I believe).

Not having access to your money, even if it's not going to be taken by the government is still very inconvenient. There are no bank holidays with bitcoin.


Lsut81
USA Fan
Member since Jun 2005
65660 posts

re: First Bitcoin ATM heading to Cyprus
quote:

There are no bank holidays with bitcoin.


Which serves what purpose that cannot be corrected by putting a purchase on your credit card


WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: First Bitcoin ATM heading to Cyprus
quote:

Which serves what purpose that cannot be corrected by putting a purchase on your credit card


Oh yeah, I forgot to mention that most merchant in Cyprus stopped accepting credit cards too


ETA: i put the wrong link in there and can't find the right one
This post was edited on 3/25 at 2:01 pm


joshnorris14
Florida Fan
Florida
Member since Jan 2009
21470 posts

re: First Bitcoin ATM heading to Cyprus
quote:

Which serves what purpose that cannot be corrected by putting a purchase on your credit card


During a period in which you are uncertain if your banks will close, there will be a bank run, et cetra?

I'd say it provides a clear purpose.


Lsut81
USA Fan
Member since Jun 2005
65660 posts

re: First Bitcoin ATM heading to Cyprus
quote:

Oh yeah, I forgot to mention that most merchant in Cyprus stopped accepting credit cards too


But they accepted bitcoins???????


joshnorris14
Florida Fan
Florida
Member since Jan 2009
21470 posts

re: First Bitcoin ATM heading to Cyprus
quote:

But they accepted bitcoins???????


We are talking about why Bitcoin would be a good option under these circumstances.


Lsut81
USA Fan
Member since Jun 2005
65660 posts

re: First Bitcoin ATM heading to Cyprus
quote:

During a period in which you are uncertain if your banks will close, there will be a bank run, et cetra?



Which all funds up to 100k were guaranteed by law.


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Lsut81
USA Fan
Member since Jun 2005
65660 posts

re: First Bitcoin ATM heading to Cyprus
quote:

We are talking about why Bitcoin would be a good option under these circumstances.


And Wiki gave an example that merchants quit accepting credit cards, so I'm assuming that they were accepting bitcoins then?

If not, then what is the fricking point?


joshnorris14
Florida Fan
Florida
Member since Jan 2009
21470 posts

re: First Bitcoin ATM heading to Cyprus
quote:

And Wiki gave an example that merchants quit accepting credit cards, so I'm assuming that they were accepting bitcoins then?




Again. WE ARE SHOWING YOU THAT IN THESE CIRCUMSTANCES, BITCOIN IS A GOOD OPTION.


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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: First Bitcoin ATM heading to Cyprus
quote:

But they accepted bitcoins???????


No, probably not. At least not right away.

The difference is, however, that a merchant can begin accepting bitcoins with no risk if they so choose.

Not only that, but individuals can also use bitcoin as a medium of exchange without any initial costs associated with it.

Cypriot reality:

No/Little access to cash in bank
No/Little ability to use credit cards

What are their options?

Certainly bitcoin is one.





C
LSU Fan
The Woodlands, TX
Member since Dec 2007
22630 posts

re: First Bitcoin ATM heading to Cyprus
quote:

begin accepting bitcoins with no risk


c'mon now...


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Lsut81
USA Fan
Member since Jun 2005
65660 posts

re: First Bitcoin ATM heading to Cyprus
quote:

The difference is, however, that a merchant can begin accepting bitcoins with no risk if they so choose.


You really think the govt is going to shut down credit cards/banks and just let bitcoins slide right by?

If it got to the point where bitcoins were indeed feasible, the govt will put a stranglehold on them.

"Oh, but the govt can't regulate bitcoins and who accepts them".... Except for fining companies or taxing the shite out of them if they do.

Great, I've got 1000 bitcoins and theres a financial shutdown, but I can't use them ANYWHERE near me bc govt has forced companies into not accepting them.


WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: First Bitcoin ATM heading to Cyprus
quote:


You really think the govt is going to shut down credit cards/banks and just let bitcoins slide right by?

If it got to the point where bitcoins were indeed feasible, the govt will put a stranglehold on them.

"Oh, but the govt can't regulate bitcoins and who accepts them".... Except for fining companies or taxing the shite out of them if they do.

Great, I've got 1000 bitcoins and theres a financial shutdown, but I can't use them ANYWHERE near me bc govt has forced companies into not accepting them.


So this is what bitcoin threads have come down to.

Every thread essentially consists of doubters/haters saying "the government will ban it."

Of course, nothing like that has happened yet. And there are no indications that it will happen any time soon.

But apparently it's a sure thing to you guys and their success is all but guaranteed.


Glad you guys see the future.



"THERE'S NO WAY THE GOVERNMENT IS GOING TO LET EMAIL EAT INTO THE POST OFFICE'S REVENUE!"

This post was edited on 3/25 at 2:30 pm


joshnorris14
Florida Fan
Florida
Member since Jan 2009
21470 posts

re: First Bitcoin ATM heading to Cyprus
quote:

So this is what bitcoin threads have come down to.


It'll just make being right that much sweeter.


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LSURussian
LSU Fan
Member since Feb 2005
85143 posts

re: First Bitcoin ATM heading to Cyprus
quote:

But they accepted bitcoins???????



We are talking about why Bitcoin would be a good option under these circumstances.

I would love to be standing near when you try to convince a Russian mafia type why it's in his benefit to give you his euros in exchange for you giving him bitcoins.

I hope I have a camera with me if that ever happens.....


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lsu_tiger_az
LSU Fan
AZ/LA
Member since Mar 2004
30404 posts

re: First Bitcoin ATM heading to Cyprus
quote:

You try to make it appear that bitcoin is not a fiat currency when in fact it is the best example of a fiat currency.




Never, ever, ever confuse a great sales pitch with the actual facts....

It's just not polite!








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