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Posted on 4/26/13 at 9:12 am to OnTheBrink
quote:
Do you ever see a need? If so, for what?
Oh sure. Although it won't manifest itself as need initially, at least in the US. Bitcoin will catch on in the US because it will become more convenient than other forms of money.
People in other countries, however, will seek out bitcoin to protect their assets from their governments.
But ultimately, something like bitcoin will become the norm throughout the world because it makes it easy and simple to send money to anyone, anywhere, and at any time.
For instance, do you think there is any value in an individual in Spain being able to send money directly to an individual in Brazil instantly at 2am on a Sunday for zero or no fees? And to be able to do that with no other third parties involved?
This post was edited on 4/26/13 at 9:14 am
Posted on 4/26/13 at 9:15 am to WikiTiger
quote:
For instance, do you think there is any value in an individual in Spain being able to money directly to an individual in Brazil instantly at 2am on a Sunday for zero or no fees? And to be able to do that with no other third parties involved?
Me personally, probably not, but in a broader sense I guess I can see that. I just cannot see the purpose until the price flucuation is under control.
Posted on 4/26/13 at 9:21 am to OnTheBrink
GOOOOOOD MORNING GENTLEMEN!!!!!!!!!!!!
Posted on 4/26/13 at 9:24 am to Broke
Good morning Broke! 
Posted on 4/26/13 at 9:25 am to OnTheBrink
It's Friday and I've made the decision that I won't poo poo any bitcoin threads today. It's my gift to the world.
Posted on 4/26/13 at 9:28 am to WikiTiger
As much as I been reading these Bitcoin threads, I still cannot understand how anyone can value a bitcoin. I feel like this guy who invented this just made this shite up that you can find digital "gold" in a computer system by "mining"? However its not a physical element.
Posted on 4/26/13 at 9:28 am to Broke
quote:
I won't poo poo any bitcoin threads today
leave it up to Mr. Buttcoin to do your bidding then
Posted on 4/26/13 at 9:29 am to AUtigerNOLA
quote:
As much as I been reading these Bitcoin threads, I still cannot understand how anyone can value a bitcoin. I feel like this guy who invented this just made this shite up that you can find digital "gold" in a computer system by "mining"? However its not a physical element.
network effect, and what-not
Posted on 4/26/13 at 9:29 am to Broke
quote:
that I won't poo poo any bitcoin threads today
Hmmm....
*Checks website*
*Confirms that I am indeed on Tigerdroppings MT*
Sounds good. I give you until lunch time.
Posted on 4/26/13 at 9:30 am to OnTheBrink
I'm determined. My word is as good as gol.... bitcoin.
Posted on 4/26/13 at 9:31 am to Broke
quote:
My word is as good as gol.... bitcoin.
Correction, 10:00AM.
Posted on 4/26/13 at 9:33 am to AUtigerNOLA
quote:
AUtigerNOLA
That's me. I know in my own life, it serves zero purpose, probably even if it was widely adopted. I am just trying to keep an open mind about it.
Posted on 4/26/13 at 9:44 am to AUtigerNOLA
quote:Think "Beanie Babies."
I still cannot understand how anyone can value a bitcoin.
Posted on 4/26/13 at 9:46 am to LSURussian
quote:
Think "Beanie Babies."
beanie babies are way better
my dog can't urinate on bitcoins
Posted on 4/26/13 at 9:52 am to OnTheBrink
quote:
Me personally, probably not, but in a broader sense I guess I can see that. I just cannot see the purpose until the price flucuation is under control.
What I was describing earlier was the value bitcoin has as a transaction network.
Bitcoin also has value as a currency because of certain qualities it has, such as the inability to be seized or frozen and the ability to use it anonymously. Of course, that discussion always tends to delve into shadier aspects, however, there can be very legitimate reasons for needing those qualities. For instance, if you were a depositor in a country where the government surprise announced a tax on all bank deposits, you might see bitcoin as extremely valuable.
Other aspects like its predictable inflation rate are attractive to people as well.
One of the great things about bitcoin, however, is that it really has been thinking about the idea of what money really is.
Posted on 4/26/13 at 10:01 am to WikiTiger
quote:
Bitcoin also has value as a currency because of certain qualities it has, such as the inability to be seized or frozen
quote:Business Insider, April 25, 2013
And both were informed their businesses' (bitcoin) accounts frozen by Canada's largest banks.
Posted on 4/26/13 at 10:06 am to LSURussian
haha, banks are skeered of bitcoin
ETA: and of course, you noticed that it was bank accounts, not bitcoin accounts thate were frozen ... but you already knew that
ETA: and of course, you noticed that it was bank accounts, not bitcoin accounts thate were frozen ... but you already knew that
This post was edited on 4/26/13 at 10:09 am
Posted on 4/26/13 at 10:23 am to gizmoflak
quote:
it was bank accounts, not bitcoin accounts thate were frozen ... but you already knew that
intellectual honesty is not his forte
Posted on 4/26/13 at 10:27 am to gizmoflak
I also like how he added the "(bitcoin)" to the quote when it does not actually appear in the article.
Real quote:
Such a blatant misrepresentation of the facts should be a ban-worthy offense.
Real quote:
quote:
And both were informed their businesses' accounts frozen by Canada's largest banks.
Such a blatant misrepresentation of the facts should be a ban-worthy offense.
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