Topic: Can someone please explain to me WHY I should accept BTC over gold or silver? - page 2. (Read 6643 times)

It would be cool to date new merchants so we can see growth easily.

I'd guess the number of new this month is the same as the number up until this month.

Each one used to be news and get me excited, but now they just keep coming.

Well is there a place that actually does showcase NEW stores?

I mean, yeah, I can look through that list every week, but I won't necessarily notice when new shops pop up.

There's also herd mentality: Everyone is in dollar, so if Titanic sinks, that's okay, I am not alone. Jumping to a smaller ship? no thanks.

Well is there a place that actually does showcase NEW stores?

I mean, yeah, I can look through that list every week, but I won't necessarily notice when new shops pop up.

It's new. Stores aren't going to all start accepting Bitcoin immediately. Some might want the exchange rate to settle down. Some might not have the technical know how. Some haven't even heard about Bitcoin yet. Etc.

It is growing though. So, we shall see.

I already referred to the list, but the point was that how is it supposed to function as a currency if there are only a tiny, tiny, tiny, tiny number of stores willing to accept it. I think people forgetting that this is supposed to be a currency, not really an investment. (Or maybe to other it is supposed to be investment, but as currency it's not really good to have such a small people using it was a currency and the vast majority speculating in it.)

This is a frequently overlooked point.

A related fantasy is that no profit is real until you convert it to dollars.

it already has!

look at the btc wiki for a list.  i've also come to the conclusion that a large economy might not necessary for btc to grow in value as long as the algorithm stays as is.

If the BTC economy has exploded wouldn't there be more than like 30 places on the internet that accept it?

Is there a central place where we can go to new show stores opening up or accepting BTC showcased? How often do no BTC accepting stores become available?

What risk could there possibly be? One guy in here told me that BTC will have a better return than gold!

i agree, the dark pools should be eliminated.  still, btc is not a manipulated mkt like the USD or pm's

As with any investment, there is a certain amount of risk involved. Most here believe bitcoins will appreciate in value and would advise in favor. Then again, if we felt otherwise, we probably wouldn't be here. 

the btc economy has exploded and is moving much quicker that pm businesses.  much faster and easier than pm's.

the exchange price of pm's is hardly realistic with all the manipulation by JPM and GS as u know.  huge distortions with all the paper pm's like SLV/GLD.  we do have an active mtgox exchange.  not perfect but not bad.

I notice on that website they allow users to trade in dark pools. This basically allows for large transactions to occur without sending a corresponding price signal to other market participants. How exactly is this beneficial to the market as whole, as opposed to those in the dark pools?


I accept your opinion that USD is not a good store of value. As I said earlier, USD is basically a short-term currency for me as I am more interested in purchasing equities and commodities as stores of value. In this respect, USD seems to be a superior choice for a short-term currency because it is accepted is many more places than BTC, it is readily recognizable to basically everyone on the globe, and it can be transacted easily in physical form without a need for computerized devices.


Not many people in countries that have been dominated by banking and mortgage markets. For example I can buy a very, very nice property in Viet Nam with a very large amount of open land for just few gold coins. The value of the coins can be easily determined by looking at central exchanges located in any number of different cities on the globe. It is not the fault of gold that Westerners do not know the value of it and I would not consider that a weak point against gold.

What do you think is the best way I can trade my BTC for the same property in Viet Nam? What angle should I use?


How does clearcoin operate and how do they verify transactions? What kind of a commission do they charge?

I don't own any BTC and only heard about it last week. I came here because I wanted to see what the likely economic discussions were regarding BTC and other asset classes.

I DO own many USD which over the past five years or so I have been steadily trading for other things that will appreciate more, such as equities and commodities. Basically beyond paying for groceries and utility bills, USD serves basically two roles for me: to trade for gold equities and commodities, and to pay for things in the remote chance that my credit cards are declined. So as far as short-term currencies go, I am not really interested in holding things short-term unless I want to speculate, but there doesn't seem to be much opportunity to speculate in BTC.

I have read some of the posts on here regarding anticipated problems concerning the longer term viability of BTC, but I am still left wondering why I should accept BTC as payment for something. If you can pay me in USD, CAD, AUD, or gold or something, then why should I choose BTC over any of those other items?

EDIT: I mean it seems to me that basically it boils down to confidence in the currency to stay viable over the long-term. And since newcomers are not going to instantly understand the cryptopgraphic principles behind BTC, why do you expect that this will continue to grow?

With a goldgram it is not very difficult for me to sell my gold for money, then send the currency I traded it for to a person on the internet.

Storing my gold on the back of a stamp? Is this really WHY I should start accepting your BTC? I should do work for you in BTC because I can "store my wealth on the back of a stamp"? What is this supposed to mean to me? It means nothing. Please explain further.

It isn't practical to pay someone in small amounts of gold? Sure, maybe for a buck or half a buck, there might not be a more convenient way to pay someone. But is this really supposed to allure me into accepting BTC for labor? If I need to pay someone a buck or two, I will just pay them a buck or two. I do not see what advantage BTC has over USD in this regard.

What benefit is there to conducting my transactions anonymously online?

How much does it cost me to generate BTC? Surely the lack of an exchange is a severe disadvantage for the currency. How am I supposed to negotiate payment in exchange for my time and labor for BTC when there is simple way to discover a price? How am I supposed to know what stores are accepting in BTC as market conditions change?


A payment in a commodity that has no known exchange rate for any given time. A commodity that is very new and its future uncertain to those new to the BTC.


So you say BTC is more "secure"? Tell me again why this security is so much better than trusting a DGC service, even though BTC has no exchange and prices cannot be determined by market participants nearly as easy as gold or silver.

I do appreciate all of your input on this subject so far and I hope that you continue to participate in this discussion.

Yeah but they're already in one basket (in the dollar basket)

I have read that concerns over hoarding BTC can be alleviated by more people accepting BTC. But why should I? Why should I accept your BTC as payment for something in leiu of something like a goldgram?

Please, if you can, explain WHY. I have noticed that when discussion of gold comes up here on this forum people seem to ask pointed questions in response to why BTC is as legitimate or even better than gold as a currency without actually constructing a solid point.