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Topic: Are you all idiots? ...or what? - page 3. (Read 5503 times)

Q7
sr. member
Activity: 448
Merit: 250
October 25, 2014, 04:01:20 AM
#36
Lol why buy when i don't need the item. Anyway, i do exchange or rather say pay with bitcoin to individuals for some offline products. Grin
sr. member
Activity: 336
Merit: 260
October 25, 2014, 03:47:21 AM
#35
Unique use cases is the key word.
What can Bitcoin buy that you can't buy with other currencies?
The more unique use cases, the more demand for a currency.
newbie
Activity: 31
Merit: 0
October 25, 2014, 03:31:40 AM
#34
Bitcoin is only useful for illegal activity...

.. And so is dollar.
legendary
Activity: 1862
Merit: 1015
October 24, 2014, 10:56:00 PM
#33
If Bitcoin is going to take off, you've got to use it.  I just talked to a customer service guy at Newegg.  He said 'hardly anyone' pays with bitcoin.  He said he's only dealt with two orders done in Bitcoin. 

If you've got bitcoin, go spend some buying cool shit at Newegg or Overstock.  The whole thing will fall apart if Merchants start seeing it as a waste of time. 
You are trolling. Bitcoin provides value because it is cost efficient, and instant.
Don't wait, buy some shit today!  What are you - an idiot?
This is actually true. When people hoard bitcoin they are actually harming the overall bitcoin economy because they are preventing more commerce from taking place. I am not saying that the price of bitcoin will decrease, but that not spending the bitcoin that you have does no good to the overall bitcoin economy
legendary
Activity: 1708
Merit: 1036
October 24, 2014, 10:14:16 PM
#32
The key for us consumers is to be spending bitcoins where we can, but then replenish our bitcoins by purchasing a similar amount so that we don't put net selling pressure on the price of bitcoin. Then the merchants see the interest without any harm done.

But the real key is for merchants who are enjoying the substantial benefits of bitcoin (no credit card fees, no credit card fraud/chargebacks, counterfeiting, forged and bounced checks and so forth) to get serious and start offering some fixed discounts for people buying with bitcoin. I figure a 5% discount would be reasonable for them, and would match or beat any rewards people get from using rewards credit card programs.

For example, I get 2% cash towards my children's education fund with my main credit card, 3% off restaurant, gas and hotel spending with a 2nd credit card, and 5% off a "special deal" that changes quarterly with my 3rd card. I don't  have a rational case to use bitcoin if there is no discount offered, when I can get those discounts instead.

legendary
Activity: 1456
Merit: 1010
Ad maiora!
October 24, 2014, 10:13:03 PM
#31
might be more effective to do give aways. they would have to be face to face transactions (nobody to trust in this forum) and small amounts. you'd have to actually invest more time than money here because you would prolly need to walk your new friend through the basic stuff, wallets security etc.
I would rather (and have actually) give away 1 btc split amongst 10 friends to introduce them to the economy in a small but tangible way than waste 1 btc on some garbage I neither want nor need from New Egg.

If you are ready to stand by your convictions, which I will take as not entirely self serving, you will agree and distribute what you can in the name of fostering awareness.
legendary
Activity: 906
Merit: 1002
October 24, 2014, 10:11:11 PM
#30
I'm with OP here. Many (I won't even say most, because that might be stretching it) of us want to see bitxoin succeed. The way to do that is to demand to be able to spend the things. Who cares if the merchant converts to fiat afterwards? Give them enough transactions, maybe they'll start accepting it directly and cut out the coinbase/bitpay middleman. And who knows, maybe someone in their supply chain accepts it. All of a sudden, there's real transacting occurring.

Or is that not good enough, because the supply chain company will also convert to fiat?  

If you're waiting for a full, closed Bitcoin economy to blossom before you consider spending you coin, then that economy will never get here. You want vendors to accept it, you need to start offering it to them. Only then will it start bubbling through the wider Economy.

If you're not spending because you want to preserve your Bitcoin, simple - rebuy the Bitcoin you just spent. You end up with the same BTC you had before, you neutralize the effect of the vendor converting to fiat, and you increase their BTC denominated sales volume. That last part, especially for publicly traded companies, is something that get reported. Then other companies notice. Then analysts report it, and more people start hearing About it.

Or is the 1% transaction fee that you'll save by not having to rebuy an equivalent amount of BTC worth more to you than the appreciation you hope for when Bitcoin becomes a wider used currency?

It has to start somewhere, but it won't start anywhere until you start spending, rather than hoarding (I'm sorry, "hodling") yours while you tout its superiority to fiat currencies and wait for others to spend.
I think the point that you are missing is that transacting in bitcoin is generally more cost efficient then transacting with the traditional fiat based banking system (especially credit cards). As more of the economy adopts to bitcoin they will realize these cost savings, which will cause more of the economy to use bitcoin, and this positive feedback loop will continue
yvv
legendary
Activity: 1344
Merit: 1000
.
October 24, 2014, 09:29:34 PM
#29
If Bitcoin is going to take off, you've got to use it.  I just talked to a customer service guy at Newegg.  He said 'hardly anyone' pays with bitcoin.  He said he's only dealt with two orders done in Bitcoin. 

If you've got bitcoin, go spend some buying cool shit at Newegg or Overstock.  The whole thing will fall apart if Merchants start seeing it as a waste of time. 

Don't wait, buy some shit today!  What are you - an idiot?

No, I am not. You are. You are a fucking idiot. If you want to pay more or have a shity return policy, go ahead and pay with bitcoin on Newegg or Overstock.
legendary
Activity: 4424
Merit: 4794
October 24, 2014, 09:26:59 PM
#28
Bitcoin is only useful for illegal activity atm and it's not even great fot that! Btc us a shit coin and always will be. Can the real cryptos please step up

if bitcoin is so crap then please donate all your bitcoins to seans outpost or another worthwhile service. and go play on the altcoin sub forum. as for bitcoins usefulness, it covers atleast 100,000 legit merchants right now, but your assumption that its only useable for drugs might be more revealing of your personal spending habits, than the spending habits of others
sr. member
Activity: 490
Merit: 250
October 24, 2014, 09:22:35 PM
#27
Bitcoin is only useful for illegal activity atm and it's not even great fot that! Btc us a shit coin and always will be. Can the real cryptos please step up
legendary
Activity: 1232
Merit: 1011
October 24, 2014, 07:41:59 PM
#26
funny, because I ordered and payed with btc one GTX 970 few days ago.
legendary
Activity: 3038
Merit: 1032
RIP Mommy
October 24, 2014, 07:35:26 PM
#25
tl;dr Spend at a loss!

No thanks;fuck off.
hero member
Activity: 644
Merit: 500
October 24, 2014, 07:32:54 PM
#24
I'm with OP here. Many (I won't even say most, because that might be stretching it) of us want to see bitxoin succeed. The way to do that is to demand to be able to spend the things. Who cares if the merchant converts to fiat afterwards? Give them enough transactions, maybe they'll start accepting it directly and cut out the coinbase/bitpay middleman. And who knows, maybe someone in their supply chain accepts it. All of a sudden, there's real transacting occurring.

Or is that not good enough, because the supply chain company will also convert to fiat?  

If you're waiting for a full, closed Bitcoin economy to blossom before you consider spending you coin, then that economy will never get here. You want vendors to accept it, you need to start offering it to them. Only then will it start bubbling through the wider Economy.

If you're not spending because you want to preserve your Bitcoin, simple - rebuy the Bitcoin you just spent. You end up with the same BTC you had before, you neutralize the effect of the vendor converting to fiat, and you increase their BTC denominated sales volume. That last part, especially for publicly traded companies, is something that get reported. Then other companies notice. Then analysts report it, and more people start hearing About it.

Or is the 1% transaction fee that you'll save by not having to rebuy an equivalent amount of BTC worth more to you than the appreciation you hope for when Bitcoin becomes a wider used currency?

It has to start somewhere, but it won't start anywhere until you start spending, rather than hoarding (I'm sorry, "hodling") yours while you tout its superiority to fiat currencies and wait for others to spend.
sr. member
Activity: 266
Merit: 250
October 24, 2014, 07:16:41 PM
#23
Idiots for not spending? Ignoring the unwarranted namecalling, a probable reason people aren't spending Bitcoins is because it's not as easy to get into for the lay man. Once Bitcoin is as accessible as say, a credit card in the US, then there will be uptake. Remember, Bitcoin is still a young technology.
newbie
Activity: 44
Merit: 0
October 24, 2014, 07:08:30 PM
#22
99.9% of the time, paying with bitcoin goes through a payment processor such as bitpay, bitpay instantly sells your bitcoins for FIAT hence putting sell pressure on the market. So basically if people take your advice right now and start buying products with bitcoins, the price will fall.

I'm using Bitpay and Im not cashing it all out. My BTC goes into cold storage and at the end of the week I reconcile my bills and cash out only whats needed to cover those bills. Any BTC left over I keep! So, its not instant by any means, although I could set it up as such.

I also mine BTC and Im not cashing them out either.
legendary
Activity: 3038
Merit: 1032
RIP Mommy
October 24, 2014, 07:00:51 PM
#21
If Bitcoin is going to take off, you've got to use it.  I just talked to a customer service guy at Newegg.  He said 'hardly anyone' pays with bitcoin.  He said he's only dealt with two orders done in Bitcoin.  

So that means he's only dealt with two customers who need service. Last I checked, Newegg processes orders without any customer-to-employee contact, by default.
newbie
Activity: 25
Merit: 0
October 24, 2014, 06:21:16 PM
#20
Once the smart contracts come into play and even your grandmother has to register her car online through the blockchain by paying with Bitcoins, that's when things will really get real. You have to look at the big picture. Blockchain was created with Bitcoin(p2p payment system) and once the network was large enough and stable, add the smart contracts. Bitcoin is the payment system for the smart contracts using the blockchain. That's been the plan since 1994, it hasn't changed, it's all documented in great detail through the entire process.
legendary
Activity: 1540
Merit: 1029
October 24, 2014, 02:04:56 PM
#19
It's not as cut and dry as that.
hero member
Activity: 672
Merit: 500
October 24, 2014, 02:00:24 PM
#18
I agree with OP about spending more bitcoin to get the bitcoin economy going, but buying stuff with coins we are holding is not going to help. We need to buy bitcoin from exchanges first, then use those coins to buy stuff.
full member
Activity: 532
Merit: 100
October 24, 2014, 01:33:35 PM
#17
Wow, there's more aggression and name calling in this forum than most Linux forums I've visited....and that's saying something. LOL  Grin
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