Topic: Could we invalidate all regulations? - page 3. (Read 3068 times)

become your own exchanger in your town. i done it, and hre is the simplist way.

i gave a local merchant (aswell as a contract) £200 upfront as a kind of bar tab. i also set his phone up that checked my website for MY price valuation. so that as people spent bitcoins with him (which i received) the bartab would decrease for the value of the goods the merchant sold. i would then simply hand him a new lump of money for a fresh bartab as it got low.

that way i was pre-paying him for coins he had not yet received. and he was getting true £200 for £200 of goods (the commission for me was small but cam off the customers side, which due to bitcoin volatility, the customer handing over bitcoin did not even notice the couple percent difference and were also happy to be using bitcoin) so win win win for all involved

the merchant loved it, no risk and no complications, he didnt even need to show me receipts or anything. as long as i seen what i valued to be £200 of bitcoins in my wallet i was happy. and because he already had the £200 prepaid, he was happy. and it both saved us time not having to deal with bank transfers each day or auditing each other. (ofcourse a contract helped with me trusting him.. but then again he owned a business in my town so he cant really run off)

Blockchain.com

once you start getting away from the reliance of FIAT you can start getting bak to the proper law.. common law. and not need all the contractual policies that governments use.. dang it im starting to sound like them "freemen".. honestly im not, but i do like to get law back to the basics of theft and injury instead of the 'nanny' state rules

Sure. You can use a static address for this, like Mycelium wallet for Android, or you can use wallet software that generates new addresses for each transaction, like breadwallet for iPhone. BitPay, coinbase, and BIPS and superfluous in theory if the merchant does not need to convert back into fiat. The only problem is that these wallets are slightly more advanced to operate than the merchant solutions I have seen from some of these companies.

This may come off as a noob question, but wouldn't there be a way to set up Bitcoin payments for brick-and-mortar retailers without requiring something like Bitpay?

And good point about suppliers. I might float the idea of accepting Bitcoin with a couple of wholesale companies I know about.

in the utopian world where the suppliers of grocery stores also accepted BTC and all staff accepted BTC as wages.. and the store sold everything in BTC then yea, theory is that we can live without fiat.

but right now we are 0.02% there... baby steps.

and to those trying to get merchants onboard, find out their suppliers and get their suppliers onboard. otherwise bitcoin is just a gimmick to make bitpay rich. we need to make merchants self reliant. not requiring bitpay

Yes, i see your point. But note one thing, most of the transactions , if not all, associated with merchants who accept btc use service like bitpay, which instantly converts btc to fiat.
One could do as u say if we remove the conversion from purchases, but its highly unlikely that anyone would want to gamble their sales profit on bitcoin price.

Idealy, the system would work, but in real life, it wouldnt stand a chance im afraid.

That's the ultimate goal with bitcoin, using it, even for paying taxes.

I was thinking for a while, and realised that most government regulations are imposed when a person exchanges BTC -> fiat. I'm sure you all know this.

If we convinced local grocery stores to accept BTC, wouldn't that mean we could very well live in a society where we don't need to exchange to fiat?

If you can buy the necessities of life with Bitcoin, then why would you need fiat? There's websites that sell anything you can think of for Bitcoin.

Just food for though, I'd like to see what everyone's opinion is.

And sorry if this has been discussed many times before, I'm just curious.

DISCUSS!