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Started By
Message
Bitcoin seems like a pain in the arse
Posted on 6/14/17 at 7:45 am
Posted on 6/14/17 at 7:45 am
FB link to CNBC story on living on bitcoin
So not only do you have to do a bunch of extra work to spend them, it costs you more. Sounds awesome
So not only do you have to do a bunch of extra work to spend them, it costs you more. Sounds awesome
13
Posted on 6/14/17 at 7:48 am to Thib-a-doe Tiger
Well you have to pay money to sell stocks and shite, but I don't see people bailing out of the stock market because of that.
Posted on 6/14/17 at 7:50 am to Thib-a-doe Tiger
You gotta better way to pay for cocaine and hitmen?
Posted on 6/14/17 at 7:53 am to Thib-a-doe Tiger
Am Mart on nicholson in BR is supposed to have a bitcoin atm. Saw a story in business report about ii earlier this year.
Posted on 6/14/17 at 7:57 am to PrivatePublic
quote:
Well you have to pay money to sell stocks and shite, but I don't see people bailing out of the stock market because of that.
There is so much wrong here I don't even know where to begin
Posted on 6/14/17 at 7:57 am to Thib-a-doe Tiger
Wiki laughs at you poors on his yacht
Posted on 6/14/17 at 7:58 am to Thib-a-doe Tiger
I know a guy grossing $800/month mining cryptocurrency.
Posted on 6/14/17 at 7:59 am to wallowinit
quote:
I know a guy grossing $800/month mining cryptocurrency.
i was going to say that may be a stretch but is totally feasible
Posted on 6/14/17 at 8:00 am to aVatiger
I bought 200 worth of bitcoins at 1834 a Bitcoin, currently it is 2800 a Bitcoin...
Posted on 6/14/17 at 8:00 am to aVatiger
quote:
Wiki laughs at you poors on his yacht
Why does he have poors on his yacht?
Posted on 6/14/17 at 8:01 am to Thib-a-doe Tiger
Living on bitcoin =/= investing in bitcoin
Posted on 6/14/17 at 8:01 am to Thib-a-doe Tiger
quote:
So not only do you have to do a bunch of extra work to spend them, it costs you more. Sounds awesome
it is awesome for people in "developing" or eroding societies like Venezuela where their government money is completely worthless.
America has the strongest currency in the world it doesn't make much sense unless you are trying to by stuff off the deep web
Posted on 6/14/17 at 8:03 am to aVatiger
quote:
i was going to say that may be a stretch but is totally feasible
his power bill is probably over $800
Posted on 6/14/17 at 8:07 am to Pecker
quote:
Living on bitcoin =/= investing in bitcoin
I get that. But a good investment usually has some sort of underlying fundamentals that make it a good investment. Having a currency that is hard to spend (at least in the US) is not a good base
Posted on 6/14/17 at 8:12 am to Dire Wolf
quote:
his power bill is probably over $800
Power cosumption is a prime consideration as is capital costs. He keeps a spreadsheet monitoring all of this and is actually making enough to buy new video cards and power supplies along with funding his gaming habit. He started doing it to make a few extra bucks to pay for online gaming and discovered he could actually do more than that. He's a pretty intense guy.
Posted on 6/14/17 at 8:14 am to Thib-a-doe Tiger
quote:
I get that. But a good investment usually has some sort of underlying fundamentals that make it a good investment. Having a currency that is hard to spend (at least in the US) is not a good base
i think some of the meta aspects of BTC are beyond you
namely, you bringing up only the US, considering it's an international currency that is in high demand in various parts of the world. as stated earlier, the US has the most stable currency in the world, so it's a very limited POV to examine BTC from.
there are some very legitimate "underlying fundamentals" in BTC as a currency. for example, it's very popular in the high roller poker community b/c they play across the world. they get nearly instant transfers without all the hassle of dealing with banks to transfer and without all the issues/costs of actually buying the new currencies
it's still a tech that's in its infancy, but they have debit cards you can use in the US that act like any other debit card. that applicability is going to expand greatly from here onward
This post was edited on 6/14/17 at 8:15 am
Posted on 6/14/17 at 8:17 am to Thib-a-doe Tiger
quote:
I get that. But a good investment usually has some sort of underlying fundamentals that make it a good investment. Having a currency that is hard to spend (at least in the US) is not a good base
I think the idea is that although it's currently not as convenient to exchange as other currencies, the demand for bitcoin will lead to innovation and simpler ways to use bitcoin, especially in the online marketplace.
If the demand is there, I see no reason why Amazon, Ebay, Walmart, etc., wouldn't make bitcoin an accepted form of payment. They may be hesitant now because of the stigma associated with bitcoin and its connection to the Silk Road and other illegal activities, but I think that's changing.
I'm not a bitcoin fanboi, I just think yours is a short-sighted view.
This post was edited on 6/14/17 at 8:19 am
Posted on 6/14/17 at 8:26 am to Thib-a-doe Tiger
Now start reading up on "ethereum".
Posted on 6/14/17 at 8:29 am to Thib-a-doe Tiger
Somebody let me know when you can use Bitcoins for a lap dance. 
Posted on 6/14/17 at 8:31 am to Pecker
I know and understand what you and SFP are saying. But to me BTC price is based on potential more than substance. It was trading at $200 within the last 2 years. Demand and the ability to use it easily have increased more than tenfold with the largest economy in the world as a small time player? Not buying it
This post was edited on 6/14/17 at 8:34 am
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