I think this is a really nice story. Do you have any online links to the story and stuff?
I will say this though, its newsworthiness is based on the fact that Bitcoin still doesn't have too much penetration into most places. As Bitcoin gains more traction, these types of stories will be come less and less newsworthy. On the other hand, it serves as a stepping stone for the next major news story for Bitcoin. So like you said, first smaller places and then more and more places afterwards. There's a lot more traction to be had.
Topic: Saw the future (Read 1867 times)
Bitcoin's value will always be determined by its convertibility into FIAT currencies.
wrrraaaaooooonnnggg.
-B-
*sigh* Please don't quote the trolls. Ignore does not work for quotes.
This is nice but I'm waiting for a moment when people will start to accept bitcoin directly and not use 3rd party to convert it for fiat. But for this price have to be more stable and predictable.
Bitcoin is different than that. It is connected with fiat and it will always be. Maybe in some future it will survive on its own but for now we have to accept it the way it is.
In the beginning business will convert btc into fiat, but the more business that accept bitcoin the better. Once enough business accept bitcoin (even if they turn it into fiat in the beginning) then your typical business such as the bowling alley can then make purchases in bitcoin to their vendors. For example the bowling alley needs pizza supplies, if they can only pay for the pizza dough in fiat, then the bowling alley needs to convert some btc into fiat. However, once the pizza dough company also accepts bitcoin (whether or not they turn it into fiat) then the bowling alley doesn't need to convert that btc into fiat, they can just accept bitcoin and buy all their supplies in bitcoin.
Then you tack on electric companies accepting bitcoin, and rental company and salaries all in bitcoin, and then BAM - no more need for fiat
The above post is not well organized, but the point is still clear, more people accepting bitcoin leads to decrease need for fiat.
Then you tack on electric companies accepting bitcoin, and rental company and salaries all in bitcoin, and then BAM - no more need for fiat
The above post is not well organized, but the point is still clear, more people accepting bitcoin leads to decrease need for fiat.
Thankyou for informing me of that.
If I want to transfer money around the world, I have open to me far cheaper methods other than Bitcoin considering that the Bitcoin will need to be converted into Fiat currency at the other end, at such high premium's that make Western Union look like a fkn charity.
If I want to transfer money around the world, I have open to me far cheaper methods other than Bitcoin considering that the Bitcoin will need to be converted into Fiat currency at the other end, at such high premium's that make Western Union look like a fkn charity.
What if the person sells their bitcoin for fiat locally at face value?
If I want to trasnsfer money around the world, I have open to me far cheaper methods other than Bitcoin
I've used bitcoin for this twice and it's much cheaper and faster than any of the alternatives. Also, I've found bitcoins to have a value not related to fiat, for example I've bought art with bitcoins and they decided to keep the bitcoins and not convert them. The fiat conversion rate is part of what sets it's value, but there is also the value of diversifying and introduction, I find people are interested in owning some mBTC but are ignorant and haven't got around to it, and like the opportunity to just sell something for them.
When bitcoin starts to move.. it's going to get crazy. IMO the next bitcoin price move will happen within a week and it will move 1000-10000%. IMO paper is going to start looking a lot like paper really soon and when that happends.. gold, silver, food, BTC is going to get crazy. I really think that is what is going to drive the next bitcoin price rise.. the housing bubble never popped.. Food and water are true wealth... sorry went a little off track there.
a 10k% increase would imply $60k lol
u really think we gonna see $60k/btc in less then a year?
I don't know if the price will jump again that quickly.. but it could. When the bubble pops.. certian things are going to explode in value. Houses are currently "the best investment out there".. that "common knowledge" is going to blow up soon. A house is a place to live not a peice of bullion.. people will re-learn this soon.
I don't agree...
A house is a good investment because you need to live in something. It will always remain a good investment as long as you or someone else wants to live in it ofcourse
A piece of bullion has no useful value to the average person.
We have Nobel Prize in Economics.
Contrary to what many people believe there is no Nobel Prize in Economics. Nobel himself did not want it that way. I don't know if he saw economists as charlatans, or if he simply did not think they were bettering mankind which was the stated purpose of the prizes.
What we have is the "Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel". It's not funded from the Nobel foundation but from the Swedish Central Bank (Sveriges Riksbank) . It is their prize, it's just awarded at the same time as the real prizes and was given a misleading name on purpose. There is some cooperation from the Nobel Foundation as well of course, but it isn't one of the real Nobel prizes.
When bitcoin starts to move.. it's going to get crazy. IMO the next bitcoin price move will happen within a week and it will move 1000-10000%. IMO paper is going to start looking a lot like paper really soon and when that happends.. gold, silver, food, BTC is going to get crazy. I really think that is what is going to drive the next bitcoin price rise.. the housing bubble never popped.. Food and water are true wealth... sorry went a little off track there.
a 10k% increase would imply $60k lol
u really think we gonna see $60k/btc in less then a year?
I don't know if the price will jump again that quickly.. but it could. When the bubble pops.. certian things are going to explode in value. Houses are currently "the best investment out there".. that "common knowledge" is going to blow up soon. A house is a place to live not a peice of bullion.. people will re-learn this soon.
bitcoin have been created so you don't have to use middleman for transactions.
Thankyou for informing me of that.
If I want to transfer money around the world, I have open to me far cheaper methods other than Bitcoin considering that the Bitcoin will need to be converted into Fiat currency at the other end, at such high premium's that make Western Union look like a fkn charity.
If I wanted to buy electronic goods from one of the very few retailers that accept Bitcoin as a means of GBP payment, my statutory rights should anything go wrong with the transaction or product are in much better stead should I choose to pay via conventional means.
Indeed the only transactions that I find Bitcoin being either advantageous or necessary for are Silk Road transactions. Transactions where it is important that personal details of those involved in transaction are kept hidden are just about the only viable actual use for Bitcoin at this point in time for anyone living within a functioning civilised society. I could of course make a point of using Bitcoins for a lot of things, disregarding the inconveniences and increased risk of doing so just for the sake of 'sticking to The Man', but do I really want to Stick it to the Man that bad that I am prepared to dive in and out of the shark pool that Bitcoin has become everytime I do so?
When bitcoin starts to move.. it's going to get crazy. IMO the next bitcoin price move will happen within a week and it will move 1000-10000%. IMO paper is going to start looking a lot like paper really soon and when that happends.. gold, silver, food, BTC is going to get crazy. I really think that is what is going to drive the next bitcoin price rise.. the housing bubble never popped.. Food and water are true wealth... sorry went a little off track there.
a 10k% increase would imply $60k lol
u really think we gonna see $60k/btc in less then a year?
When bitcoin starts to move.. it's going to get crazy. IMO the next bitcoin price move will happen within a week and it will move 1000-10000%. IMO paper is going to start looking a lot like paper really soon and when that happends.. gold, silver, food, BTC is going to get crazy. I really think that is what is going to drive the next bitcoin price rise.. the housing bubble never popped.. Food and water are true wealth... sorry went a little off track there.
This is nice but I'm waiting for a moment when people will start to accept bitcoin directly and not use 3rd party to convert it for fiat. But for this price have to be more stable and predictable.
Then you will be waiting on the coming gold backed digital global currency, 100% created and controlled by The Man.
Bitcoin's value will always be determined by its convertibility into FIAT currencies.
bitcoin have been created so you don't have to use middleman for transactions.
The Nobel prizes are a joke anymore. Why don't we start a Nakamoto Peace Prize for individuals that actually contribute to bringing freedom and peace to the world? Paid out in bitcoin, or course, lol.
Also I believe Satoshi Nakomoto will be eventually outed and will eventually win a Nobel Peace Prize in economics.
BTW, we have Nobel Peace Prize. We have Nobel Prize in Economics. There is no Nobel Peace Prize in economics.
Also I believe Satoshi Nakomoto will be eventually outed and will eventually win a Nobel Peace Prize in economics.
I think you meant "Nobel Prize in Economics".
I agree though that he should win a "Nobel Peace Prize in Economics";Bitcoin will help bring peace to the world, just like the internet.
Good job! We should all be doing the same to broaden the useful bitcoin economy.
Also I believe Satoshi Nakomoto will be eventually outed and will eventually win a Nobel Peace Prize in economics.
Or else kidnapped and tortured until he gives up the private key to what by that point could be a $10 billion stash of btc. Could go either way.
Also I believe Satoshi Nakomoto will be eventually outed and will eventually win a Nobel Peace Prize in economics.
Or else kidnapped and tortured until he gives up the private key to what by that point could be a $10 billion stash of btc. Could go either way.
It doesn't matter. Coinbase allows for NO fees until over 1 MILLION $ in transactions. That is beyond cheap, and these are first generation processors. With more competition and use of custom implementations the cost becomes basically nothing.
The smaller the business the larger their credit card fee %'s. There is no reason not to take it besides lack of understanding. The snowball is going to keep getting bigger and bigger as nobody leaves the free ecosystem.
Also I believe Satoshi Nakomoto will be eventually outed and will eventually win a Nobel Peace Prize in economics.
The smaller the business the larger their credit card fee %'s. There is no reason not to take it besides lack of understanding. The snowball is going to keep getting bigger and bigger as nobody leaves the free ecosystem.
Also I believe Satoshi Nakomoto will be eventually outed and will eventually win a Nobel Peace Prize in economics.
This is nice but I'm waiting for a moment when people will start to accept bitcoin directly and not use 3rd party to convert it for fiat. But for this price have to be more stable and predictable.
Then you will be waiting on the coming gold backed digital global currency, 100% created and controlled by The Man.
Bitcoin's value will always be determined by its convertibility into FIAT currencies.
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