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Topic: Article: Bitcoin is an "opt in" community currency, here's how to get it at a... - page 2. (Read 2896 times)

legendary
Activity: 2198
Merit: 1311
but pointing this out is like saying the sky is blue, it is something that makes everyone who reads it dumber

I may be walking out on a deductive limb him here, but it looks to me like notme's post was a direct response to somebody else explicitly stating that they didn't understand what was quoted in the OP.  I don't think notme was trying to give you, or the community in general, a powerful and intriguing lessong in math or economics or whatever.

+1

BTW, I don't know what a lessong is.  I just made it up.

legendary
Activity: 1904
Merit: 1002
but pointing this out is like saying the sky is blue, it is something that makes everyone who reads it dumber

I may be walking out on a deductive limb him here, but it looks to me like notme's post was a direct response to somebody else explicitly stating that they didn't understand what was quoted in the OP.  I don't think notme was trying to give you, or the community in general, a powerful and intriguing lessong in math or economics or whatever.

+1
hero member
Activity: 836
Merit: 1007
"How do you eat an elephant? One bit at a time..."
Yes, it is incorrect to say that by selling goods for bitcoin one is getting bitcoin at 50% off. A vendor sells his trinket either for $10 or $10 worth of Bitcoins, and in both cases he's obtained assets equal to $10.

There are many reasons to sell things for Bitcoin, but "obtaining Bitcoin at half price" is a fallacious one.

If your cost of goods is 50% of your retail price then the cost of the item you trade for is your cost of goods. Seems pretty simple to me. I see no fallacious argument here. Leave out the "dollar price" terminology and you simply have a situation where one good is exchanged for another. In the candy bar example, the candy bar is a medium of exchange which the person uses to acquire bitcoin instead of paying cash directly.
legendary
Activity: 2198
Merit: 1311
Yes, it is incorrect to say that by selling goods for bitcoin one is getting bitcoin at 50% off. A vendor sells his trinket either for $10 or $10 worth of Bitcoins, and in both cases he's obtained assets equal to $10.

Ok, but how much did the vendor buy his trinket for?  Let's assume he isn't an idiot.
legendary
Activity: 2198
Merit: 1311
but pointing this out is like saying the sky is blue, it is something that makes everyone who reads it dumber

I may be walking out on a deductive limb him here, but it looks to me like notme's post was a direct response to somebody else explicitly stating that they didn't understand what was quoted in the OP.  I don't think notme was trying to give you, or the community in general, a powerful and intriguing lessong in math or economics or whatever.
legendary
Activity: 1008
Merit: 1023
Democracy is the original 51% attack
Yes, it is incorrect to say that by selling goods for bitcoin one is getting bitcoin at 50% off. A vendor sells his trinket either for $10 or $10 worth of Bitcoins, and in both cases he's obtained assets equal to $10.

There are many reasons to sell things for Bitcoin, but "obtaining Bitcoin at half price" is a fallacious one.
hero member
Activity: 836
Merit: 1007
"How do you eat an elephant? One bit at a time..."
Sown the seeds of dissent, of course.

If I were nitpicking, I would point out that "sowing" would be clearer word than "sown" but I'm not. I understand your message perfectly.  Roll Eyes
hero member
Activity: 798
Merit: 1000
but pointing this out is like saying the sky is blue, it is something that makes everyone who reads it dumber
legendary
Activity: 2198
Merit: 1311
I don't follow the logic of acquiring bitcoins at a 50% discount. The article appears to be written by someone who shouldn't be writing articles, no offense.

1. Buy candybar for $0.25, you normally sell this for $0.50 in your store.
2. Sell candybar for $0.50 worth of BTC.
3. You just acquired $0.50 worth of BTC for $0.25.

Obviously, you would have to scale it up to be worth your time, but that's what he's trying to say.

It is apparent he isn't a professional writer, but I found it to be easy to read.  I am glad to see someone publishing such articles.  What have you done for the bitcoin community lately Etlase2?

This is, of course, unbelievably stupid. It could be rephrased as:

1. Buy candybar for $0.25, you normally sell this for $0.50 in your store.
2. Sell candybar for $0.50 worth of dollars.
3. You just acquired $0.50 worth of dollars for $0.25.

...

Yes, or it could be phrased like this:

1. Buy candybar for $0.25, you normally sell this for $0.50 in your store.
2. Sell candybar for $0.50 worth of BTC.
3. You just acquired $0.50 worth of BTC for $0.25.

I don't understand how this is stupid.  If I want to buy $0.50 worth of BTC on MtGox right now I will spend exactly how much in USD?  Right, $0.50.  Or I can sell a product of mine for bitcoin.  Assuming I'm not an idiot and I ordinarily sell my products at a profit, then, as explained, I'm essentially getting bitcoins for less than the market price.  Herp derp.
hero member
Activity: 798
Merit: 1000
ARABIAN CRACK IS WHACK BRO

this is a sure fire way to make money at a 50% discount, what u talkin bout willis
newbie
Activity: 53
Merit: 0
I don't follow the logic of acquiring bitcoins at a 50% discount. The article appears to be written by someone who shouldn't be writing articles, no offense.

1. Buy candybar for $0.25, you normally sell this for $0.50 in your store.
2. Sell candybar for $0.50 worth of BTC.
3. You just acquired $0.50 worth of BTC for $0.25.

Obviously, you would have to scale it up to be worth your time, but that's what he's trying to say.

It is apparent he isn't a professional writer, but I found it to be easy to read.  I am glad to see someone publishing such articles.  What have you done for the bitcoin community lately Etlase2?

This is, of course, unbelievably stupid. It could be rephrased as:

1. Buy candybar for $0.25, you normally sell this for $0.50 in your store.
2. Sell candybar for $0.50 worth of dollars.
3. You just acquired $0.50 worth of dollars for $0.25.

...
hero member
Activity: 798
Merit: 1000
Sown the seeds of dissent, of course.
legendary
Activity: 1904
Merit: 1002
I don't follow the logic of acquiring bitcoins at a 50% discount. The article appears to be written by someone who shouldn't be writing articles, no offense.

1. Buy candybar for $0.25, you normally sell this for $0.50 in your store.
2. Sell candybar for $0.50 worth of BTC.
3. You just acquired $0.50 worth of BTC for $0.25.

Obviously, you would have to scale it up to be worth your time, but that's what he's trying to say.

It is apparent he isn't a professional writer, but I found it to be easy to read.  I am glad to see someone publishing such articles.  What have you done for the bitcoin community lately Etlase2?
hero member
Activity: 798
Merit: 1000
I don't follow the logic of acquiring bitcoins at a 50% discount. The article appears to be written by someone who shouldn't be writing articles, no offense.
legendary
Activity: 1148
Merit: 1008
If you want to walk on water, get out of the boat
legendary
Activity: 1904
Merit: 1002
Article:

Quote
Bitcoin is an "opt in" community currency, here's how to get it at a discount
http://wp.me/p1adwa-3W

Bitcoin is a currency used by a community of individuals and businesses. It is used to facilitate the trade of goods and services. It is private, irreversible and transfers are virtually instantaneous – whether they are across the room or across the globe.

Bitcoin has all of the characteristics of a quality medium of exchange. It is accepted on a voluntary basis and there are over 45 million dollars worth already in circulation.

Bitcoin is basically an “opt in” currency. You have to “opt in” if you wish to accept it. How do you opt in? Simply let it be known that you will accept it as payment.

When you offer your goods and services in exchange for bitcoin you are essentially acquiring bitcoin at your “cost of goods”. For example: if the cost of your goods or services is half of your retail price, then you are essentially acquiring bitcoin at a 50% discount.

Are you interested in more business? If you decide to accept bitcoin as another payment option for your products and services you will open up your business to a whole new market of potential customers. By listing your products and services in the bitcoin wiki you will get free advertising that is yours for the taking.

To summarize, if you would like more business why not “opt in” and join us in the bitcoin community?

+1
hero member
Activity: 836
Merit: 1007
"How do you eat an elephant? One bit at a time..."
Article:

Quote
Bitcoin is an "opt in" community currency, here's how to get it at a discount
http://wp.me/p1adwa-3W

Bitcoin is a currency used by a community of individuals and businesses. It is used to facilitate the trade of goods and services. It is private, irreversible and transfers are virtually instantaneous – whether they are across the room or across the globe.

Bitcoin has all of the characteristics of a quality medium of exchange. It is accepted on a voluntary basis and there are over 45 million dollars worth already in circulation.

Bitcoin is basically an “opt in” currency. You have to “opt in” if you wish to accept it. How do you opt in? Simply let it be known that you will accept it as payment.

When you offer your goods and services in exchange for bitcoin you are essentially acquiring bitcoin at your “cost of goods”. For example: if the cost of your goods or services is half of your retail price, then you are essentially acquiring bitcoin at a 50% discount.

Are you interested in more business? If you decide to accept bitcoin as another payment option for your products and services you will open up your business to a whole new market of potential customers. By listing your products and services in the bitcoin wiki you will get free advertising that is yours for the taking.

To summarize, if you would like more business why not “opt in” and join us in the bitcoin community?
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