I'm Out - page 2. | Bitcointalksearch.org

Bit_Happy

legendary

Activity: 2114

Merit: 1040

A Great Time to Start Something!

Quote from: g4c on April 02, 2014, 05:43:45 PM

Quote from: ~Coinseeker~ on April 02, 2014, 05:19:43 PM

Quote from: jubalix on April 02, 2014, 05:14:40 PM

what....you don't see how powerful BTC is that's it got the world powers running scared. The more Govs try to ban, hinder and tax BTC the brighter BTC's future and the more GOVs consign themselves to irrelevance.

and they can't ban BTC. Also there will be plenty of Chinese GOV officials buy BTC. Think of them as extra loud FUD.

Running scared? Delusional or denial. You pick.

Agreed, market cap is still teeny weeny.

Lots of room to grow, which is nice.

Is BTC an exploding bubble, or...
A once in a lifetime growth opportunity?

YipYip

hero member

Activity: 574

Merit: 500

Quote from: RodeoX on April 02, 2014, 02:53:32 PM

Quote from: smoothie on April 02, 2014, 02:43:03 PM

Look at the fundamentals. ...

+1
In fact it may be all you should look at. I ask myself:
Is bitcoin still the fastest, safest, and cheapest way to buy things over the network?
As long as those things are true bitcoin has a bright future, IMO.

AGreed ...does it deliver the functionality that people want

Of course it does ....peopel who have used it ...love it

12 months and it will be awesome

DPoS

sr. member

Activity: 462

Merit: 250

Quote from: rocks on April 03, 2014, 02:42:46 PM

That chart is already out of date.

M0 money supply is $3.8T now and rising faster every day. The fact that M0 is doubling every few years inevitably means that BTC will go up in dollar terms. Remember M0 was ~$0.7T in 2008...

I used to think that was a main indicator as well until I learned about stepping back and seeing that the increase in M0 is barely filling in the vacuum of credit destruction.
That is why the fed can print crazy money and we still do not see as much inflation as one might think

velocity is also a main factor for prices but until you see interest rates rise (which is designed to take purchasing activity away from cash holders) the lack of credit is still being infused with printing

DPoS

sr. member

Activity: 462

Merit: 250

Quote from: grifferz on April 02, 2014, 02:48:51 PM

I can kind of understand cashing some out now if you bought at $5, but I am surprised that OP does not think it worth keeping just a small amount in order to keep an interest in Bitcoin.

I must admit that I cashed out a fair bit in late 2013 — much of which was bought at a similar price — but it's all too fascinating to completely abandon and I've been tending to buy back at the low points such as now.

to all people who feel this way you need to see how the big mining data centers are going to slam the price until they feel like they can trust each other to form price control agreements like OPEC, London Gold Fix, etc

that might not happen until the next block halving

http://bitcoinclock.com/

you have about 2 years to wait before you 'get left behind' in any price skyrocketing

rocks

legendary

Activity: 1153

Merit: 1000

Quote from: infofront on April 03, 2014, 02:55:38 PM

If you purchase something in bitcoin, there's a 2-4% fee tacked on as well. Try to buy something in bitcoin at tigerdirect for instance. Look at the fiat price and then compare it to their BTC price, converted to fiat.

Bitcoin enables vendors to offer the same "cash discounts" as done with cash transactions. The two gas stations closest to me offer a "credit" price and a "cash" price. The cash price is cheaper. If more people use bitcoin, we will see vendors do the same and offer discounted prices in BTC.

The thing to remember is the wording is all marketing spin. These gas stations are not offering a "cash discount", they are really charging a "credit surcharge". But people don't like to pay extra surcharges, so marketing just calls the real price a discount.

This reminds me of what happened when coke tried to enable vending machines to charge different prices depending on the temperature. What they really tried to do was raise the price on hot days and charge more, but that turned people off. So instead the vending machines were programmed to say the new higher price was the real price and on colder days you received a discount (back to the regular price).

People like discounts, they hate surcharges. The key for bitcoin is to expose how everything else prices in a surcharge, but bitcoin offers a discount.

BitchicksHusband

sr. member

Activity: 378

Merit: 255

Quote from: infofront on April 03, 2014, 02:43:17 PM

Quote from: ryanmnercer on April 03, 2014, 02:35:02 PM

Quote from: infofront on April 03, 2014, 02:33:26 PM

The only reason anyone would use bitcoin over a credit card or paypal is for tax evasion. For the average consumer, credit cards provide so many advantages that bitcoin really isn't competitive.

Please, tell me more!

Do you mean criminal interest rates?
Do you mean absurd charges, surcharges, convenience charges, annual fees, international fees etc?

I spend tens of thousands on credit cards yearly, and don't pay any of those things except international fees if I leave the US. As for interest, I've never paid any, since I pay off my bill every month, so I wouldn't know much about the interest rates.
Also, I get 1+% back on all my transactions, transactions are instant, and I'm protected from fraud. With bitcoin, there's an enormous risk of being scammed, the software is clunky, I have to wait hours for a few transaction confirmations, and my bitcoins can be stolen fairly easily.

And if all the vendors started giving you a 3% discount for using Bitcoin?

BitchicksHusband

sr. member

Activity: 378

Merit: 255

Quote from: infofront on April 03, 2014, 02:33:26 PM

The only reason anyone would use bitcoin over a credit card or paypal is for tax evasion. For the average consumer, credit cards provide so many advantages that bitcoin really isn't competitive.

Buying a $500 item for only $5? That's not an advantage? It is to me.

And I would use ANYTHING before PayPal.

BitchicksHusband

sr. member

Activity: 378

Merit: 255

Quote from: johnniewalker on April 02, 2014, 02:36:58 PM

For the first time since I bought my first bitcoins at about $5/ea, I don't own any. With the IRS decision, its obvious [immediate] effects and the slight dip in the price of silver, I headed over to Amagi and spent it all on junk silver (90%). It feels weird to "be out of the game" as far as owning bitcoins goes. Did I make the right decision? Has the ship sailed? Or does anybody think now is the perfect time to hop back on it?

Replying so that I can revive this in 1-2 years...

kthejung

full member

Activity: 210

Merit: 100

I don't like having to put in all my personal information to make small purchases online from different websites. Not only is it time consuming but it's annoying having to keep up with all the passwords and stressful wondering about who still holds my personal info. This is why Amazon holds such a monopoly on online purchases because one website is all I have to deal with. With bitcoins however, I would be able to buy more things from more different places without entering into a commitment just to make a single purchase from a single web store. Pick and add item to cart, entering shipping info, send bitcoins, and done; and if the site gets hacked, then no problem.

I know a lot of people, typically older people, who still refuse to buy items online because they do not want to enter their credit card info; bitcoin solves this.

ryanmnercer

member

Activity: 70

Merit: 10

Quote from: TeeBone on April 03, 2014, 02:59:24 PM

Not to mention the fees turning paper to btc, at the exchanges or premiums at places like local bitcoins are outrageous. It's a total lie/scam that btc is fee free, its just what the Pumpers propagandize.

Tell me, just how much money have you lost on dips of bitcoin... I smell someone bitter over losing money trying ot get rich quick.

Exchanging to fiat isn't a function of BTC, it's what people choose to do. I have yet to convert any fraction of a bitcoin I've been paid with via my business to fiat. It's all been used to purchase things for the business with a small bit held in reserve.

As far as paying a fee to turn fiat into BTC... I've bought a fair deal of BTC, never paid a cent.

g4c

member

Activity: 98

Merit: 10

Quote from: infofront on April 03, 2014, 02:46:29 PM

Quote from: g4c on April 03, 2014, 02:41:57 PM

Quote from: infofront on April 03, 2014, 02:33:26 PM

The only reason anyone would use bitcoin over a credit card or paypal is for tax evasion. For the average consumer, credit cards provide so many advantages that bitcoin really isn't competitive.

considering your handle is infofront you seem a litle behind?

You exclude some information that is very pertinent:

For producers/vendors/merchants, Bitcoin is already supremely sweet.

Credit cards have a confirmation time of well over a month! CC Chargeback rates are increasing.

It doesn't matter what's more convenient for the producers/vendors/merchants. The consumers will use what is most beneficial to them, and the rest will be forced to play along.
All my credit card purchases appear to happen instantly and seemlessly to the consumer. Bitcoin transactions take hours to verify, which is painfully obvious when moving money around.

For online payments where consumers pay and the vendor ships out, bitcoin wins hands down. You can not argue this.

It will be trivial to implement an instant confirmation layer atop bitcoin, I'm sure Lloyds of london will be happy to provide the insurance to cover the confirmation time.

Besides that, what do you mean "moving money around"? Bitcoin is the fastes for this, the only other option is bank transfer and that takes longer. Credit cards cannot be used for large money moves, simply because one party risks loss though chargeback.

TeeBone

sr. member

Activity: 502

Merit: 251

Quote from: infofront on April 03, 2014, 02:55:38 PM

Quote from: ryanmnercer on April 03, 2014, 02:47:57 PM

Quote from: infofront on April 03, 2014, 02:43:17 PM

I spend tens of thousands on credit cards yearly, and don't pay any of those things except international fees if I leave the US. As for interest rates, I couldn't tell you, since I never go into debt.
Also, I get 1+% back on all my transactions, transactions are instant, and I'm protected from fraud. With bitcoin, there's an enormous risk of being scammed, the software is clunky, I have to wait hours for a few transaction confirmations, and my bitcoins can be stolen fairly easily.

You don't get 1% back, you pay 2-4% more. Where do you think that 1% comes from? From the fee the merchant is charged. How do you think the merchant deals with that fee? They mark their prices up to include the fee.

If you purchase something in bitcoin, there's a 2-4% fee tacked on as well. Try to buy something in bitcoin at tigerdirect for instance. Look at the fiat price and then compare it to their BTC price, converted to fiat.

Not to mention the fees turning paper to btc at the exchanges, or premiums at places like local bitcoins are outrageous. It's a total lie/scam that btc is fee-free, its just what the Pumpers propagandize.

ryanmnercer

member

Activity: 70

Merit: 10

Quote from: infofront on April 03, 2014, 02:55:38 PM

If you purchase something in bitcoin, there's a 2-4% fee tacked on as well. Try to buy something in bitcoin at tigerdirect for instance. Look at the fiat price and then compare it to their BTC price, converted to fiat.

Yes because a miniscule fraction of their customers pay with BTC, I refund most of the difference to my customers via store credit. http://www.gyft.com does it via points.

infofront

legendary

Activity: 2660

Merit: 2868

Shitcoin Minimalist

Quote from: ryanmnercer on April 03, 2014, 02:47:57 PM

Quote from: infofront on April 03, 2014, 02:43:17 PM

I spend tens of thousands on credit cards yearly, and don't pay any of those things except international fees if I leave the US. As for interest rates, I couldn't tell you, since I never go into debt.
Also, I get 1+% back on all my transactions, transactions are instant, and I'm protected from fraud. With bitcoin, there's an enormous risk of being scammed, the software is clunky, I have to wait hours for a few transaction confirmations, and my bitcoins can be stolen fairly easily.

You don't get 1% back, you pay 2-4% more. Where do you think that 1% comes from? From the fee the merchant is charged. How do you think the merchant deals with that fee? They mark their prices up to include the fee.

If you purchase something in bitcoin, there's a 2-4% fee tacked on as well. Try to buy something in bitcoin at tigerdirect for instance. Look at the fiat price and then compare it to their BTC price, converted to fiat.

TeeBone

sr. member

Activity: 502

Merit: 251

Congrats, smart move. Dont let the Btc cultists get you down.

i've done something similar to you but with around 60%, not totally out. Cashed in profits and bought up metals on the cheap, and other miscellaneous goods.

Besides, you could always get back in if you feel a bubble around the corner.

ryanmnercer

member

Activity: 70

Merit: 10

Quote from: infofront on April 03, 2014, 02:43:17 PM

I spend tens of thousands on credit cards yearly, and don't pay any of those things except international fees if I leave the US. As for interest rates, I couldn't tell you, since I never go into debt.
Also, I get 1+% back on all my transactions, transactions are instant, and I'm protected from fraud. With bitcoin, there's an enormous risk of being scammed, the software is clunky, I have to wait hours for a few transaction confirmations, and my bitcoins can be stolen fairly easily.

You don't get 1% back, you pay 2-4% more. Where do you think that 1% comes from? From the fee the merchant is charged. How do you think the merchant deals with that fee? They mark their prices up to include the fee.

infofront

legendary

Activity: 2660

Merit: 2868

Shitcoin Minimalist

Quote from: g4c on April 03, 2014, 02:41:57 PM

Quote from: infofront on April 03, 2014, 02:33:26 PM

The only reason anyone would use bitcoin over a credit card or paypal is for tax evasion. For the average consumer, credit cards provide so many advantages that bitcoin really isn't competitive.

considering your handle is infofront you seem a litle behind?

You exclude some information that is very pertinent:

For producers/vendors/merchants, Bitcoin is already supremely sweet.

Credit cards have a confirmation time of well over a month! CC Chargeback rates are increasing.

It doesn't matter what's more convenient for the producers/vendors/merchants. The consumers will use what is most beneficial to them, and the rest will be forced to play along.
All my credit card purchases appear to happen instantly and seemlessly to the consumer. Bitcoin transactions take hours to verify, which is painfully obvious when moving money around.

bitcoinsrus

hero member

Activity: 518

Merit: 500

In response to rocks (nice chart)
so how much will btc if nothing happends (and inflation just happens regular)
would it go up a lot by itself just because dollar loses
or will it still need adoption to become big?

infofront

legendary

Activity: 2660

Merit: 2868

Shitcoin Minimalist

Quote from: ryanmnercer on April 03, 2014, 02:35:02 PM

Quote from: infofront on April 03, 2014, 02:33:26 PM

The only reason anyone would use bitcoin over a credit card or paypal is for tax evasion. For the average consumer, credit cards provide so many advantages that bitcoin really isn't competitive.

Please, tell me more!

Do you mean criminal interest rates?
Do you mean absurd charges, surcharges, convenience charges, annual fees, international fees etc?

I spend tens of thousands on credit cards yearly, and don't pay any of those things except international fees if I leave the US. As for interest, I've never paid any, since I pay off my bill every month, so I wouldn't know much about the interest rates.
Also, I get 1+% back on all my transactions, transactions are instant, and I'm protected from fraud. With bitcoin, there's an enormous risk of being scammed, the software is clunky, I have to wait hours for a few transaction confirmations, and my bitcoins can be stolen fairly easily.

rocks

legendary

Activity: 1153

Merit: 1000

Quote from: ~Coinseeker~ on April 02, 2014, 05:19:43 PM

Running scared? Delusional or denial. You pick.

That chart is already out of date.

M0 money supply is $3.8T now and rising faster every day. The fact that M0 is doubling every few years inevitably means that BTC will go up in dollar terms. Remember M0 was ~$0.7T in 2008...

Topic: I'm Out - page 2. (Read 8663 times)