In fact the recent delays in MTGOX along with the great transaction volume they have and finally their statement about how much scarce are the LibertyReserve (LR) dollars and how they wait for them to be available to buy or until LR issue new dollars .. these reasons are what got me to write this article.
They (MTGOX) even said that there are a lot of people that use them as an LR exchanger! well bye bye BTC and welcome LR dollars.
The fact that a lot of miners (along with everyone that uses any online currency) need their BTC converted into tangible currency (no matter if it is USD, Euro, zinzbaros, dickheads, .. whatever tangible currency there is) will hold as long as humans can not send themselves as an email attachments and as long as I can not sweep my iphone on that homeless man at the street corner to give him a charity of 0.01 BTC.
In fact, one major advantage of our beloved online BTC fiat currency/online commodity is that the transaction fees are very low compared to 5%-7% usual fees for every bus stop along the road of converting any online currency into a tangible one (or even for just sending the same tangible currency to someone far away that we can not drive to him/her and drop by the money i.e. Hwala). And Usually there are like two to three bus stops for almost any money transfer in the current modern world civilization.
So, bitcoin7, tradehill, please learn teh lesson early and start using something that can be liquidated without many bus stops.
Finally, here is the word ....
A lot of miners along with 5-dollars-article technical writers, 3-dollars-page-rank-promise super-supreme CEO, 0.5-dollar-per-PHP-code-line freelance programmers, ten-thousand-dollar-fantastic-web-site-contract and many others are there to use online currency/exchange-medium/commodity specially when its transfer fees are lower.
So,
Should we start using world-wide reseonable-fees-cash-out exchange partners, western union, money gram, pussy-it, whatever-goes-send.. and such services to withdraw BTC on our exchanges (which would really boost the BTC need,use,economy,production, .. hell everything) or we keep using LR, LT, LZ, bank wires, dwolla, facebook credit , .. along with waiting for LR to issue more of its currency.
I think I might post this into the discussion category and the economy category as well. If that is allowed
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