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re: BitPay Bitcoin processing fees vs. PayPal and Rewards Cards
Posted on 4/16/13 at 2:42 am to Ford Frenzy
Posted on 4/16/13 at 2:42 am to Ford Frenzy
quote:
Is it just me or does wiki seem desparate when discussing this?
Yes. I was thinking the same thing.
He has gone from boasting last Wednesday about btc being worth $266 to only wanting to discuss btc as a "transaction network."
Of course, that happens when the "asset" you're pumping has crashed to $52, which is what each btc is trading for this morning.
So much for btc being "safe and secure" (wiki's exact words for it).
1
Posted on 4/16/13 at 6:14 am to LSURussian
quote:
So much for btc being "safe and secure" (wiki's exact words for it).
He's grown increasingly desperate over the last week. I know how he feels, I tried to redeem my coke rewards cap this morning, and it had expired
Posted on 4/16/13 at 8:39 am to Vols&Shaft83
quote:
He's grown increasingly desperate over the last week.
He doesn't take no for an answer. I'll give him that. He's also a master of spin. Sadly we are masters of bullshite.
Posted on 4/16/13 at 8:58 am to WikiTiger
Is the value of a bitcoin tied to the USD?
Posted on 4/16/13 at 9:19 am to cwill
quote:
s the value of a bitcoin tied to the USD?
Not at all. I wouldn't think that proponents would want it to be either.
Since there isn't any intrinsic value either, it really is just supply and demand.
Posted on 4/16/13 at 11:26 am to C
quote:
Why do USD have a 1% process fee?
Cause USD is actually backed by the US government, hence its actually worth something.
This whole bitcoin thing sounds like trading your USD for monopoly money. Got a be an idiot to fall for this scam.
Posted on 4/16/13 at 1:10 pm to HNTIGER1980
quote:It is. The thing I've learned though is a significant percentage of the bitcoin True Believers don't care that it's a scam. I know that's hard to believe but there a frequent posts on the btc-e message board attached to that exchange where the bitcoiners say "I know this is a scam but I have figured out the scam and I think I can make money trading it anyway." Seriously. It's a casino where the game is rigged but the players know it's rigged and think they can beat the scam.
This whole bitcoin thing sounds like trading your USD for monopoly money. Got a be an idiot to fall for this scam.
Look at this post from that message board:
quote:
clarabell: there is still a queue of people waiting for funds on both gox and bitstamp. a large part of the UK buying market is still offline due to bitstamp delays with transferwise deposits.
It sounds like some bitcoiners are being "Cyprussed." They can't get their money out of their bitcoin "banks."
Posted on 4/16/13 at 1:18 pm to LSURussian
quote:
It's a casino where the game is rigged but the players know it's rigged and think they can beat the scam.
In other words, a casino.
Posted on 4/16/13 at 7:13 pm to LSURussian
quote:It sounds like Mt.Gox could have been betting on Bitcoins increasing in value against the dollar, and now they do not have the assets to settle customer claims. Or they could be just plain inefficient at converting the Bitcoins to dollars and come up short as Bitcoins declined in value.
It sounds like some bitcoiners are being "Cyprussed." They can't get their money out of their bitcoin "banks."
Posted on 4/16/13 at 7:32 pm to Poodlebrain
quote:
It sounds like Mt.Gox could have been betting on Bitcoins increasing in value against the dollar, and now they do not have the assets to settle customer claims. Or they could be just plain inefficient at converting the Bitcoins to dollars and come up short as Bitcoins declined in value.
Yep.
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