Update: I got a response from Coinbase after a couple weeks. Short and sweet. They'll reattempt the ACH withdrawal and reactivate my account. Just wanted to update this thread so that the good news would be documented. They didn't even charge me a fee for the inconvenience, which really was kind of them. I deserved a slap on the wrist at least. Thank you to Coinbase.Not sure where to post this but wanted to get feedback from you all be cause I am not understanding Coinbase's thinking on this. I did a purchase last week of about 11 bitcoins through coinbase. Price was about $99 per coin. Because they allow "instant" BTC purchases, the coins were available immediately. I transferred them to my offline wallet immediately. Unfortunately a friend failed to deposit money into my bank account like they promised. The Coinbase withdrawal bounced. However the money is there now. Ready and waiting. Clearly the easiest thing to do is for Coinbase to re-initiate the ACH withdrawal. Instead they waited 4 days and told me I need to give them 11 Bitcoins to resolve the issue. At this stage BTC is listed at $115 per coin. When I bought the 11 BTC they were $99 each. I emailed coinbase and told them there's no way im going to resolve this issue by sending them 11 BTC, as that would be a $176 difference. I told them "I made a purchase for X dollars and I owe you X dollars, not a penny more" They said my account has been suspended and will remain suspended until I send them 11 BTC. I dont understand this policy nor their logic. Why would they make this the process?  Its so obvious why it makes no sense. Thanks for any insight. -Burger-
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So funny how people think here.
Buy 20 bitcoins.
Period.
Then chill for 5-10 years.
Send me 5% of it in 2023 ($1,000)
You're welcome.
-Burger-
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I think what OP is getting at is that there will be a perceived decrease in scarcity when there are more readily-available outlets for people to trade in Bitcoin. Now you sort of have to know someone who knows someone or know the secret handshake. The amount of work or knowledge necessary to obtain Bitcoin will in fact decrease. The cost to obtain Bitcoin (separate from its trading value) will go down. Yes. This is what i was getting at. And the simple fact that there will be a literal (not just perceived) decrease in scarcity *because* its more readily available. Right now you have 100 geeks owning Bitcoins. Then, you will have 100,000 people of all genres owning bitcoins. Scarcity decreases dramatically. So should value, at that point. -Burger- |
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What if you're using another client like electrum and don't even have bitcoin-qt on your computer? Sounds like a poor solution to me. It does let you select an application. Using a windows browse popup  But the whole concept of taking the user off the browser, to manually load a windows app, is so old school to me. If that is the process, why do I need BitPay? I can just tell users: "Load up your wallet and send to this address". Or pay a programmer 10 minutes to create a button that loads QT when clicked. Not sure I can justify paying $thousands$ in merchant fees to BitPay for a tool that is identical to the manual process which can be done for free. they just showed an address & QR-code on the screen and I could use whatever client/service to pay Yes. You're basically saying the same thing I am. There is a QR code, and you "click" to pay ... which initiates the whole "Pick a windows application" process. Obviously im missing something here. -Burger- |
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The title of this thread is annoyingly inaccurate.
OP: rephrase your title please.
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Reviving an old topic.
Does anyone have any opinion on the fact that the payment process is so cumbersome and complicated? Buying a product on a web site actually takes you off the browser completely, the system looks for a windows application, prompts you to select the best application to complete the task, seeks out BitcoinQT software on your computer, loads up the QT windows application, takes you to the "Send" screen on there, fills in the blanks for you, etc .... *(exhausting!)* ......... geez.
I am a little spoiled by Coinbase, where a beautiful popup appears, and you click, click, done. Within the browser. Its much faster, and easier.
I am worried that most of my users aren't going to have QT installed, and if they do, they wont want the hassle of 3, 4, 5, 6, 7 steps just to get everything loaded up, and a payment sent using it. It feels very strange taking them off their browser entirely and loading up a local application like that. Surely there must be a better method for doing this .... ?
Any opinions or am I just being too nitpicky?
Thanks
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Thanks, I didnt want to hijack your thread with my PM content, but if you're ok talking here..
Super bummed the .999 silver ones with the gold "B" are no more. Those were just beautiful. And the case was a really nice touch.
-Burger-
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I run an online store selling hair care products, and one of my customers just asked me if he could pay in Bitcoin. I got pretty excited about that. It implies that BTC becoming even more pervasive when random people request it.
Good times.
-Burger-
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I am playing Devil's Advocate by creating this thread. I don't necessarily believe what I am saying. And I hope I am wrong.
I am buying up BTC like wildfire, but I have always had this nagging fear that once "Average Joe" can get their hands on it with a simple click, its value will decrease.
Why?
Because I equate "supply" as increasing, when "average joe" is able to easily get bitcoin.
I am not talking about literal "supply" here. Im talking about *availability*.
I equate "insufficient supply" as the current status, where availability to the general public is extremely limited.
Right now BTC is not easy to get. Therefore "supply" (availability) is limited.
This has created "demand" among all of us. Not the general public.
That's why I said $100 is "our price" ..... $100 is what BTC has settled at for "our little world" of QT wallets and mining.
Later, when BTC becomes simple for the general public to acquire, because there are tools, websites, apps, which make acquiring it simple for the average person - SUPPLY increases.
Availability increases. Now anyone can get 10 BTC ....
No longer 10 internet geeks playing with BTC, now there are 10 internet geeks and 300 average joes who have it.
Increased availability.
Price goes down.
This is a temporary, not permanent thing. But I do believe it will happen when BTC goes mainstream at first.
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Egg on my face.
THANKS harriet.
lol
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Once again you are referring to 30, 40 years from now.
I am referring to the next 5 to 20 years.
The time period where BTC is easy to get, and its quantity is increasing.
Value of $100 should go down. No?
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It will be easier to aquire Bitcoins, but harder to aquire the same amounts of Bitcoins. It will only be harder to *Mine* the same amounts of bitcoins. It wont be harder to acquire the same amounts. It will become significantly easier to acquire them if you are purchasing them straight-out. The only way they'd be harder to acquire in the same amounts, is if the price went up. But when something becomes easy to acquire and quantity (mined) is going up, its value goes down, compared to when it was hard to acquire and quantity was limited. Isn't that the process? There are 21 mio Bitcoins max, simple math tells us that the price has to skyrocket if Bitcoin goes mainstream.
There wont be a cap on the number of available coins for 40 years. So its limit wont have any relevance until that time comes. Once they are easy to obtain, their quantity will continue to rise. During this time period, I am theorizing that their value will decrease significantly. No? -Burger- |
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It seems to me that the price of BTC right now ($100-ish) is "our" price.
BTC is hard to obtain. Only those of us who know how to acquire it, can get it.
Therefore its value is high.
The average person out there still has no means by which to obtain it.
To me that is "Scarcity".
To me that justifies its $100 value.
Fast forward a bit - to when people can obtain bitcoin easily.
Why won't its value take a sharp skydive when it is abundant, and easy to obtain?
Suddenly its not so hard to get.
Suddenly its not scarce.
Quantity of coins will also be going up. Even less scarcity.
Scarcity increases value. Easy to acquire decreases value.
No?
-Burger-
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What does "HARRIET AGNEW" have to say about her article in light of the Twitter Tweet?
-Burger-
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I can assuage your Can someone assauge me please? -Burger- |
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Hey Cas -
Sent you a PM a few days ago. Sorry to bug you. Hope to hear back.
-Burger-
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Really digging the appearance of this coin, which I believe came sealed with a case, correct? https://bitcointalk.org/useravatars/avatar_2676.png1) Anyone know where I can get one still? 2) I notice a lot of these coins are just tossed around, scraped, handled, etc. What if you want them in mint condition? Sealed? Honestly it seems like most people who buy one of these are doing so for collectors-sakes, so i can't believe how they're just in rolls and whatnot. Bitcoin is not a physical coin. So i view these as collectors items. They should all be available in mint condition/sealed no? Thanks! |
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Why would anyone post this information? Because the voting method above is anonymous. Obviously you wouldn't want to type your answer in a post. But it seems completely safe to vote. I think this is important information. Its showing us that most people don't hold more than 100 BTC. That means that those who do are already holding some serious value. Everyone should vote. Honestly of course. -Burger- |
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