https://bitcointalk.org/index.php?topic=1674877.0




Just spotted that in a thread I was responding in so I decided to throw it in here for a quick reference.

Anyone could attempt to do 'sportsbook bonus whoring' on their own and there is no need for you to provide any advice on the available offers because it's out there in the open and there are enough sites and blogs already providing enough sign up links to prospective players.
And why would anyone give you access to their accounts in exchange for your service?
Are you trying to rip people off mate?

If Trump really follows on his plan to throw all immigrants out of the country then I think alternative currencies like Bitcoin will sky rocket in price because people will be trying to conceal and effectively get their money out of the USA as fast and as anonymous as possible. Bitcoin could become the main payment processor of all remittances going in and out of the country. But it will all depend on what kind of direction Trump will have towards crypto currencies and Bitcoin in particular.

Oh wow what a surprising turn of events this has been. I couldn't believe that Trump would pull this off considering all the blunders he has made so far and all the nonsense he has said infuriating a lot of people but still the majority voted for him. This just goes to show that even in politics big favorites don't always win. Hopefully I didn't vote for anyone so I spared some coins myself but this is truly an unexpected win to say the least.

Okay that's true, but Bitcoin will have 21 million units in circulation by 2150. 21 million coins will need to service the financial needs of the whole world by that time. How can we attribute the global net worth of everything on Earth to 21 million units? Because Bitcoin will be a truly global currency if this ever happens - to effectively supersede fiat. I think we will need a lot more subunits past the 8 one to even accommodate such big numbers. And 1 satoshi by 2150 would cost astronomical sums compared to now. And what if some very wealthy individuals just buy out massive amounts of units and put them out of the market - let's say they burn them. The 21 million units will be even less. That will lead to massive inflation and deflation every time a portion is added or removed form the global pool of 21 million units. This will lead to a cluster fuck of problems because unlike traditional fiat we can't print out additional coins to accommodate the market.

Still no one has answered my question: how would you find out the value of 1 Bitcoin if there were no Bitcoin exchanges?

Bitcoin is more like a commodity right now than actual, useful money. Bitcoin is like crude oil. People waste energy and resources to gain crude oil for example, that crude oil has a price attached to it depending on the market. The market speculators regulate the price. 1 barrel of crude oil costs $44.65 at present.
Now, I can go to Amazon and shop around bringing my shopping cart to $44.65 with the shipping included. Can I send them 1 barrel of crude oil because it is the same value just because the market says so and it's 'money'? I guess no.

Now we have Bitcoin. What are people doing to get Bitcoin? They sit at home digitally extracting that commodity racking up electricity bills and breaking down expensive electronics in the process trying to extract Bitcoin from the Blockchain. 1 Bitcoin is valued at $708.8. This is what the market thinks 1 Bitcoin is valued at - or the speculators.

Now, I challenge you to delete all bookmarks to any online Bitcoin exchanges, BTC debit cards, Circle, Coinbase all the other fancy-schmancy websites and tell me what 1 BTC is valued at this Christmas based on your calculations.

Because I know that 1 bottle of water or 1 Subway sandwich will be x amount of fiat at the end of the day but there is no way you would know how much that would cost in BTC if BTC weren't pegged to fiat. Or I could pay for my sandwich with x amount of gold, Facebook credits, CS Go skins, World of Tanks points or any other token but this doesn't make it money just because it has a value. Anything can have a value so what? Just because Satoshi said that Bitcoin will be free digital currency for the people worldwide that doesn't mean that everyone will become rich out of the blue. You still have to buy equipment and 'mine' for it in the virtual world like you would mine for ores or extract petrol in the real world. And no, Bitcoin at the moment is not money.

Okay but Bitcoin is a rare commodity with a limited supply so by design its value is going to be volatile. How will you know how much to charge your customers for the same service or item this week, next week, next month and beyond that? How much would you charge for 1 bottled water today in Bitcoin? It's not so easy as you are describing it. Have you tried paying for your restaurant bill with a piece of gold or a piece of silver? If Bitcoin is not pegged to fiat it's like bartering goods whose value is decided by the seller and buyer which has its drawbacks because something valuable for you might not seem so much valuable for another. 

'Almost Human' is one of my favorite sci-fi shows of all time. Too bad they cancelled it because it had great potential and they should have kept developing the story. Such a gem of a TV show gone to waste. Anyways if someone is interested to see the Bitcoin reference featured in the show it was a Bitcoin wallet stick:

https://www.youtube.com/watch?v=k8LqlMzEe-I

I don't quite agree with this statement. Crypto currencies need to be pegged to fiat currencies in order to be useful. Do you want to bring back the old days of bartering goods which in itself is very unreliable. Like : 'Hey, I will give you 10 000 Bitcoins for that pizza, is it okay?'
How will you quantify what is worth how much if you don't know what your currency is worth in the first place? Or you will base the price on the amount of electricity used to generate 1 Bitcoin? But you are again basing the price of Bitcoin on fiat because electricity costs fiat money.

So guys have you pulled the trigger on Hillary winning yet? To be honest I don't think she could lose as the chances of Trump winning are slim to none. I have the impression the general population hate his guts so I don't think many will vote for him anyways. I wonder if it's worth putting a lot of cash on Hillary in spite of the low odds because it looks like such a sure bet. But you never know 

I have known about the Swiss city of Zug that is implementing the payment of bills through Bitcoin but I didn't know about Arnhem. I think it's a great idea and I hope more European cities will follow in their footsteps making Bitcoin popular.

So would you buy Elon Musk's solar roof for your own house needs and not for crypto mining? He said one powerwall battery is enough to satisfy the energy needs of a 4 bedroom house if I am not mistaken. Well the initial costs of battery + tiles would be approx. $10 000 and above but in the long-term that should pay for itself, right?

And then everyone will rush to exchange their Bitcoins for cash so that they could buy cheap stuff on Black Friday and crash the price of Bitcoin? I guess not. Long-term holders won't sell their stash just because there are some deals when they could use cash. Alt coin miners on the other hand will most probably start selling some coins to buy early Xmas presents.

Since Jurgen Klopp took the ailing Liverpool under his wing the team has showed massive progress in the right direction and perform beyond expectations scoring a lot of goals every other match. To me, Klopp is making waves in England and he is the best manager there right now. Mourinho can't even compare to Klopp and neither can Pep or Conte.

I think Trump has said somewhere that he is contra-Bitcoin so if he gets elected somehow (highly unlikely though) I guess we would see a dip in the price of Bitcoin probably. Or perhaps nothing will happen at all and this is just a stupid insane theory of mine.

Damn Manchester United are leading 3-0 before the half time break. If you told me this would be happening I wouldn't have believed you one bit  Apparently Mournho has held a serious discussion with the team after the previous epic fail and today all players seem very motivated. Now it remains to be seen if this is a momentary state or this kind of play will be displayed in the next matches, too.

You are going to give me negative feedback for stating a well-known fact? Is this a threat now? In what position are you exactly? Are you the Supreme leader of the Forum Kim Jong-un?

Has anyone found out how much a single tile is worth? Probably it's a different quote for every roof depending on the measurements but the battery costs $5500 alone. So 20 cents/kwh for a maximum capacity of 14/kwh that works out to $2.8 savings per full battery lol  
I don't know how fast the Tesla solar battery will replenish but if we take 1 full battery per day for 365 days that multiplies to $1022. So you are paying roughly more than 5-10 years upfront for 'free solar energy'. Does it sound like such a good deal now?

The powerwall 2 is rated at 14kw/h storage and 7kw/h output priced at $5500. So do you think this will be enough to power an average home mining rig throughout the day? At night I assume people would need to use power from the grid because the battery pack would have already been depleted during the day.

Just play CS GO or Team Fortress 2 and sell the loot outside Steam for cash or Bitcoins. By the way Steam allows buying of games with Bitcoins. And I like to play an offline game called a job where I can earn the cash so as to enjoy online games that I play just for fun