A great article - however the followup piece discussing how to kill Bitcoin (make it so volatile that no one uses it for transaction) still misses the point and other values of the currency / commodity / security / I mean... thing.
Topic: 2013-12-06 TP - Why Bitcoin Is Such Dizzying Fun (Read 581 times)
In the midst of all this mayhem, someone used that virtual commodity that doesn’t exist to buy another super-hyped entity, though a more functional one, a Tesla S. If a deal was struck for $120,000 for a loaded model when the Bitcoin traded for $1,200, the buyer would have agreed to pay 100 Bitcoins. Unbeknownst to those shaking hands, the PBOC was posting its notice. A couple of hours later – the time required to do the paperwork, wait around, drink dealership coffee, talk to F&I, meet the manager, etc. – the deal would have been executed and these Bitcoins would have been transferred. By then, they’d be worth $900 each – with the buyer in effect paying $90,000. One heck of a deal for a loaded Tesla S!
And for the dealership? A $30,000 loss. Well-spent money for an amazingly effective publicity stunt. But for crying out loud, you can’t do business that way on a daily basis; it turns every purchase and every sale into a hair-raising gamble.
i guess he dont knows a service like bitpay...
And for the dealership? A $30,000 loss. Well-spent money for an amazingly effective publicity stunt. But for crying out loud, you can’t do business that way on a daily basis; it turns every purchase and every sale into a hair-raising gamble.
i guess he dont knows a service like bitpay...
Amazing article!
While it isn't perfect on the spot (no I won't tell spoilers) it is so much fun to read.
While it isn't perfect on the spot (no I won't tell spoilers) it is so much fun to read.
Why Bitcoin Is Such Dizzying Fun
http://www.testosteronepit.com/home/2013/12/6/why-bitcoin-is-such-dizzying-fun.html
Quite a pleasant read for Bitcoin-lovers!
http://www.testosteronepit.com/home/2013/12/6/why-bitcoin-is-such-dizzying-fun.html
Quite a pleasant read for Bitcoin-lovers!
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