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I'm a BTC supporter and yet, I believe Warren Buffet's right because BTC is not an investment. I see BTC as a currency and very few currencies are good investments. Does anyone think as the US dollar as an investment?
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I don't think merchants that convert the bitcoin they receive from sales to fiat immediately should really truly be considered to be part of the 'bitcoin economy' as they are both pricing their goods in terms of fiat and receiving their goods in fiat. The only real exception would probably be overstock who only converts a portion of their revenue to fiat and is active in the bitcoin related economy/community
I believe quite the opposite. To help the BTC economy, we need big names to accept it. Microsoft accepting BTC is more important for raising awareness than all the gambling websites. I would disagree. We don't need major companies to accept bitcoin, we just need enough of a variety of companies to accept bitcoin. These companies will have a competitive advantage as they will have lower payment processing costs and as a result will grow Most small shop owners still aren't sure about BTC. When they see that Microsoft accepts it, it's a huge boost. We shall never underestimate the power of opinion leaders. |
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I don't think merchants that convert the bitcoin they receive from sales to fiat immediately should really truly be considered to be part of the 'bitcoin economy' as they are both pricing their goods in terms of fiat and receiving their goods in fiat. The only real exception would probably be overstock who only converts a portion of their revenue to fiat and is active in the bitcoin related economy/community
I believe quite the opposite. To help the BTC economy, we need big names to accept it. Microsoft accepting BTC is more important for raising awareness than all the gambling websites. |
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You forgot the "physical" part. Money at a bank account isn't cash at all, cash is something you can hold in your hand.
If you travel to North Africa, there are small towns without a single ATM, nor a single shop which accepts checks or credit cards. So if you don't have real cash there, physical cash, you just die.
You misread, I never considered money in bank account as cash. If you consider the physical part important for the definition (in other words "owned by the bearer"), then bitcoin is not cash. If you consider the third party approval important for the definition, then bitcoin is cash. "Owned by the bearer" doesn't mean anything, it's the physical part which matters. Both of your definitions are wrong. A 1$ bill lost on the pavement obviously doesn't belong to any bearer, but it's still cash, isn't it? Not being physical, BTC isn't cash. |
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Well, it's easy to understand. They are the successful Russians who have escaped to live a better life and who dislike Putin (actually, they don't talk much about it any longer), and there are the poor Russians who cannot escape, and who suffer everyday because of Putin's failure regarding economics growth and job creation. The amazing part is that all those poor Russians shall dislike Putin, but they still like him. They live poorly but something immaterial, unreal, a spiritual invention, their country (!), stays relevant a little while longer. I'm ashamed by my citizenship, and I would be much ashamed too if I were Russian.
As I got you are living not in Russia. So, how do you know what Russians feel, what they think, e.t.c.? Why do you believe that your point of view is the only one deserving to follow? Of course, you have the right to have your own opinion about Russia based on any sources of information you like, but don't speak for Russians because you have no idea. P.S. You can run away from economic problems, regime, whatever. The only thing you can't run from - yourself. Running from myself? I don't understand that. People need to run from oppressive regimes, and that's what I did, like my few Russian friends. Everything's nice since then. You see, you can't understand the simple thing that every Russian knows! Please explain, then. I guess both of us are not native English speakers, and "running from oneself" is not something meaningful to me. Or do you think about people with psychological, or identity problems, like some immigrants trying to mix with locals in their new country, but who can't, because of their skin color, or whatever? I'm not like that. I'm a simple guy, no identity or psycho problems. I guess he meant something like this: 1. No matter where you go, you can’t get away from yourself.
I expected that life would suddenly become magical — I would suddenly be filled with happiness and enlightenment. Running away, however, doesn’t solve anything. Even though moving to Ireland aided in my self-discovery, it didn't instantly solve my internal issues: my anger, sadness, self-criticism. Once I realized that life in Ireland was just as mundane, difficult, and real as it was in Chicago, I was able to ask myself why I had really moved halfway across the world from everyone I loved. http://www.mindbodygreen.com/0-12721/no-matter-where-you-go-you-cant-get-away-from-yourself.htmlI don't like much to talk about me, and even less about my past, but leaving the country where I was born was the best thing I've ever done. Nobody liked me there. Most people back there are just waiting for the government do help them, but I didn't want that, and I started my first business when I was 18. My friends from that time didn't like it, and they didn't help... I'm now freer than I've ever been, living a more fulfilling life, making more money and going out with more interesting people. Just like the Russian people I've met in several places in Europe. All that while Putin orders vodka price cap: http://www.reuters.com/article/2014/12/24/russia-crisis-putin-vodka-idUSL6N0U81E920141224The more the Russians drink, the less they'll understand. We'll have to agree that Putin was very smart with that move. |
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You forgot the "physical" part. Money at a bank account isn't cash at all, cash is something you can hold in your hand.
If you travel to North Africa, there are small towns without a single ATM, nor a single shop which accepts checks or credit cards. So if you don't have real cash there, physical cash, you just die.
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I'm dealing with that kind of issue everyday.
You've got to understand that this is more paper work (virtual, actually) for businesses but there's hardly any change for consumers. VAT is 20% in the UK, 19% in Germany and 21% in Spain. If a German buys some digital good from a British company, next year he will have to pay 19% tax, instead of the 20% he pays this year, so that's better. If he's a Spaniard, tax will move up from 20% to 21%, but it's only a 1% difference, so that's small beer.
The real problem is for business owners who will have to upgrade their software to add the relevant VAT rate for each European country. It sounds like a pain, but with the accounting software we have today, solutions will be easy.
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Well, it's easy to understand. They are the successful Russians who have escaped to live a better life and who dislike Putin (actually, they don't talk much about it any longer), and there are the poor Russians who cannot escape, and who suffer everyday because of Putin's failure regarding economics growth and job creation. The amazing part is that all those poor Russians shall dislike Putin, but they still like him. They live poorly but something immaterial, unreal, a spiritual invention, their country (!), stays relevant a little while longer. I'm ashamed by my citizenship, and I would be much ashamed too if I were Russian.
As I got you are living not in Russia. So, how do you know what Russians feel, what they think, e.t.c.? Why do you believe that your point of view is the only one deserving to follow? Of course, you have the right to have your own opinion about Russia based on any sources of information you like, but don't speak for Russians because you have no idea. P.S. You can run away from economic problems, regime, whatever. The only thing you can't run from - yourself. Running from myself? I don't understand that. People need to run from oppressive regimes, and that's what I did, like my few Russian friends. Everything's nice since then. You see, you can't understand the simple thing that every Russian knows! Please explain, then. I guess both of us are not native English speakers, and "running from oneself" is not something meaningful to me. Or do you think about people with psychological, or identity problems, like some immigrants trying to mix with locals in their new country, but who can't, because of their skin color, or whatever? I'm not like that. I'm a simple guy, no identity or psycho problems. |
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I'm somewhat a prepper too, though I don't have much BTC. I don't think BTC would survive long against a major catastrophe.
I'd rather own valuables and bank accounts in several different countries. If something bad happens where I'm currently staying, I can just move elsewhere and keep on living the way I'm used to.
You want to know the easiest way to have a bank account in several different countries? BTC <-- I know that very well, but convenience and acceptance is an issue. Right now in Europe, I can wire unlimited money (only limited by my balance) for free. If I want to buy a car, I just ask the seller what's his bank account, and he'll get my money the following day. BTC is even faster, but would my seller accept BTC? Actually, I'd like to do more business with BTC, but few people accept it. |
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It could be smarter to launch the same kind of topic, with a poll asking in what year, people got their first bitcoin
If someone invested $100 in BTC in 2011 or 2014, that's very different.
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Well, it's easy to understand. They are the successful Russians who have escaped to live a better life and who dislike Putin (actually, they don't talk much about it any longer), and there are the poor Russians who cannot escape, and who suffer everyday because of Putin's failure regarding economics growth and job creation. The amazing part is that all those poor Russians shall dislike Putin, but they still like him. They live poorly but something immaterial, unreal, a spiritual invention, their country (!), stays relevant a little while longer. I'm ashamed by my citizenship, and I would be much ashamed too if I were Russian.
As I got you are living not in Russia. So, how do you know what Russians feel, what they think, e.t.c.? Why do you believe that your point of view is the only one deserving to follow? Of course, you have the right to have your own opinion about Russia based on any sources of information you like, but don't speak for Russians because you have no idea. P.S. You can run away from economic problems, regime, whatever. The only thing you can't run from - yourself. Running from myself? I don't understand that. People need to run from oppressive regimes, and that's what I did, like my few Russian friends. Everything's nice since then. |
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Well, it's easy to understand. They are the successful Russians who have escaped to live a better life and who dislike Putin (actually, they don't talk much about it any longer), and there are the poor Russians who cannot escape, and who suffer everyday because of Putin's failure regarding economics growth and job creation. The amazing part is that all those poor Russians shall dislike Putin, but they still like him. They live poorly but something immaterial, unreal, a spiritual invention, their country (!), stays relevant a little while longer. I'm ashamed by my citizenship, and I would be much ashamed too if I were Russian.
It's no surprise you keep spreading your propaganda bullshit as you don't know a fuck about Russia. Let's educate yourself before making bold statements. failure regarding economics growth  failure regarding [...] job creation  Not to say that those moving to French Riviera must have earned enough money in Russia in the first place. Must've been not as bas a place to earn money despite all the "Putin's falures"? Very nice of yours to compare Russia with France, one of worst performing countries. How about comparing it with Germany or the UK? Or Switzerland? There are many rich Russians there, too. |
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I guess bitcoin gambling accounts for a significant portion of the bitcoin economy. It is tough to quantify this though. I remember reading that Satoshi Dice accounted for 25-50% of all bitcoin transactions last year. According to reports, the gambling industry is poised to grow further. https://www.cryptocoinsnews.com/bitcoin-will-revolutionize-gambling/I think major sectors in the bitcoin economy would be - Mining - ASIC Manufacturing (Aren't these purchased primarily using bitcoins) - Gambling - Trading (Bitcoin exchanges) - Bitcoin Mixing - Remittance - Pornography (Girls Gone Bitcoin, among others  ) - Illegal activities (Buying drugs, Ransomware, etc) - Ancillary Services (Legal, Compliance, Bitcoin software, etc) Thanks for your input. I know gambling is big, and somehow this is worrying. BTC deserves better. I wish a car manufacturer could sell its products and accepts only BTC as a payment. |
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To be successful, a bitcoin bank would need to offer the same services a classic bank offers. That's savings accounts which provide some interest, and loans so that you can buy a house. Without offering those services, a bitcoin bank would be absolutely useless, and meaningless.
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I'm somewhat a prepper too, though I don't have much BTC. I don't think BTC would survive long against a major catastrophe.
I'd rather own valuables and bank accounts in several different countries. If something bad happens where I'm currently staying, I can just move elsewhere and keep on living the way I'm used to.
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The BBC writes about it: http://www.bbc.com/news/technology-30575103Besides the harsh punishment, this is pretty bad news for BTC. If tomorrow I'm buying drugs with bitcoins I've bought today through an exchange, will the manager of that exchange company go to jail because he sold me the bitcoins I needed, providing me help in completing an illegal drug transaction? This is highly worrying. Charlie Shrem probably wasn't very smart, just like the average young man suddenly making big money, but somehow exchanges need to become like the post office, which isn't responsible if it delivers grass in a sealed envelope. |
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My last time in Russia was 4 years ago, and I'm not familiar with Russian politics, so I can't talk about the options. ...
You don't have to be physically present in Russia to understand the situation. All you need is a very basic knowledge of politics/foreign affairs + common sense. If you think that it's possible to replace Putin's crew with some other option who will make everyone rich, happy and yet maintain Russia as an independent/relevant force - then you must be very young or just very naïve. There are no 'good guys' in high level politics. You should ask the Russians living on the French Riviera or in London what they think of Putin, it's only the poor uneducated peasants who support him.
You don't make much sense here. How come the masses of poor peasants support Putin? Following your logic, they should be the ones who hate him the most. And yet he has more support that the vast majority of western leaders could ever dreamed of. Why should I ask Russians from French Riviera or London? How are they better than any other Russians? Are you referring to the rich Russians, related to opposition, who fled their country? Well, it's easy to understand. They are the successful Russians who have escaped to live a better life and who dislike Putin (actually, they don't talk much about it any longer), and there are the poor Russians who cannot escape, and who suffer everyday because of Putin's failure regarding economics growth and job creation. The amazing part is that all those poor Russians shall dislike Putin, but they still like him. They live poorly but something immaterial, unreal, a spiritual invention, their country (!), stays relevant a little while longer. I'm ashamed by my citizenship, and I would be much ashamed too if I were Russian. |
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How does the actual Russian government help the average Russian?
I was in Greece recently, and there were plenty of Russians who were just like me: they hate their country, and they don't want to go back there. That was before the slide of the currency...
I am sorry for you that you have to hate your own country. As for Russians you have met, I can tell you: "to change the World first change yourself". The same applies to you. Just ask yourself: "What I did to make my country better?". That's exactly what I did. I've changed myself since I've left the country where I was born, all for the better. Just like the Russians I've met. Enjoy life, and don't waste it trying to save dying organizations. |
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You can still get a savings account in a Swiss bank. ROI is very small, but it remains positive.
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There are lots of folks with big money to invest in Dubai. This is the right place for BTC.
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