What is bitcoin for? - page 2. | Bitcointalksearch.org

Ibian

legendary

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Quote from: capcook on February 03, 2014, 11:50:47 AM

Sad because it's drug money, and almost weaponry money with Armory (that failed anyway).
It created an early demand of BTC for sure, but it will always remain a skeleton in the armchair of BTC history. Everytime they attack BTC is for drug money / money laundry / terrorist money. And they can point the finger to Silk Road.

Point them to the dollar. If they keep it up after that they are not reasonable people and you can safely ignore them.

RodeoX

legendary

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The revolution will be monetized!

I use it at least once a week for purchases online. And no, I have never bought drugs or anything illegal with it. I think it is true that many/most are speculating. But it doesn't have to be that way. Using bitcoin has been the key to financial success for me.

capcook

newbie

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Sad because it's drug money, and almost weaponry money with Armory (that failed anyway).
It created an early demand of BTC for sure, but it will always remain a skeleton in the armchair of BTC history. Everytime they attack BTC is for drug money / money laundry / terrorist money. And they can point the finger to Silk Road.

hilariousandco

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Join the world-leading crypto sportsbook NOW!

Quote from: capcook on February 03, 2014, 10:07:49 AM

Well before the price boom was actually used as currency a lot, sadly, for buying stuff on Silk Road.

Why is that sad? Bitcoin boomed by its use on Silk Road and it got a lot of free publicity from that. In fact, that's how I heard of it though the media coverage.

capcook

newbie

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Well before the price boom was actually used as currency a lot, sadly, for buying stuff on Silk Road.
Now yes speculators are a big number. As I see it now it's a good currency for transactions among privates. I see a good bunch of eBayers accepting btc as payment, for example.

hilariousandco

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Quote from: pletharoe on February 02, 2014, 10:11:08 PM

OK, I've been in the bitcoin game for a year now. Mining and trading. But I've only made one commercial transaction - to pay for a VPN. It seems to me that the vast majority of BTC are just being bought and held for speculation.

So, apart from speculation, what are people using BTC for now and what sort of transactions will it be used for in the future?

Well it's a decentralised currency, so hopefully it'll be used as a medium of exchange for anything you wish to purchase. People are holding it because they're treating it as an investment and figure that it'll grow in value with more mainstream adoption. I'm holding mine in the hope that I'll be able to get a lot more in the future than I can now, but I'm very much looking forward to hopefully be able to spend it on whatever I want.

Ibian

legendary

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It's how you will keep from losing all your wealth, if you have any, once the western fiat system collapses. Should happen around 2020, which coincidentally seems to be about the time it might take for bitcoin to reach some sort of maturity.

pletharoe

sr. member

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OK, I've been in the bitcoin game for a year now. Mining and trading. But I've only made one commercial transaction - to pay for a VPN. It seems to me that the vast majority of BTC are just being bought and held for speculation.

So, apart from speculation, what are people using BTC for now and what sort of transactions will it be used for in the future?

Topic: What is bitcoin for? - page 2. (Read 1853 times)