and i lol too

Bitcoin is not a sentient being with its own decision powers to name itself. Bitcoin is a tool used by people, so its the people using bitcoin that get to define it, I think that is what this thread is doing. So us, the community of bitcoin are defining it and by so many people making at least 6 threads on the same topic of defining it, then I think us, the bitcoin community do give a flying monkey's shyte. But at least a few smart people truly understand the difference of a commodity, money, currency, asset to distinguish what bitcoin is. both in form and function.

form = asset
function = currency

I think many people want it to be a commodity purely because commodities can offer cheaper tax in some countries so they want everyone to agree that it is a commodity. but there is no physical or realistic reason why it is anything like a commodity. Its qualities are that of an asset (store of value owned in whole by the holder), its uses are that of a currency (anything used as a means of exchange).

It is not a share(% of a business), it is not money(Fiat), it is not a commodity(raw material). I see some have understood what a commodity is aldur1, franky1, EndtheFed, BTCLuke. But there is still a few people that for unknown reasons refuse to believe that bitcoin is not a commodity.

The UK scene is small when it comes to bitcoins and right now i am making a website (currently it looks ugly), which will inform people about bitcoin, the history of bitcoin, lists of businesses in the UK accepting it, and a list of confident / smart people that can be used for media interviews, plus much more eventually.

I will be looking for help and idea's how to expand it so if you are UK based pop me a message and ill let you see my alpha test site and get any idea's/support you wish to offer.

The whole double spending issue from what I can see is that anyone can send out the same allotment of coins multiple times by using different clients with the same private key imported.

The only problem is only one of the recipients will get the confirmed one. so I still would not risk a zero confirm transaction, instead a vendor would work best if they had a micro-bank/escrow/prepayment service. Just for depositing 0.1btc in each day, which gets confirmed by the microbank/escrow/prepayment service and then when the transaction goes through, the vendor collects the fully guaranteed funds instantly.

So this is an opportunity for someone with high trust to create a prepayment service where franky1 suggests

I can see starbucks, vending machines, train stations, etc all taking on the prepayment service as their payment gateway

im at 4 hours 24 minutes and still in newbie status.

EDIT 4 hours 25. im set free

lol well thats a scam ..

if you really want BTC you just place an order using your dollars on the BTC-E website... why need to even bother noobs on a forum.

the reason.

because you think only noobs will fall for a trick like this to hand you BTC

those caring about the longevity of bitcoin should not worry about the high prices. but look at the monthly low prices

i read somewhere else that someone already looked into this and found

February low was $20
March low was $33
April low was $51
and May low so far is $79

which shows an uptrend on the base rate. the highs are pure speculation and will ramp up and down where ever they want but as long as the lows show a natural rise where people get to a point that they wont sell any lower then a certain level then this is good for the long term life of bitcoin.

getting into crypto is not much of a problem.

its just most people see bitcoin as a product itself that either needs to be manufactured (mined) or bought. alot of people are forgetting the whole point of bitcoin.

bartering.

EG imagine you have £10,000 and you want to get into bitcoin.

you would start up a business selling products. you price them up in bitcoin. Then customers pay you bitcoin and you pay your supplier with your fiat.

that way you end up with bitcoin. your supplier gets FIAT and your customer gets the product advertised.

another example: find a project where people are paying for skills in bitcoin

bitcoin is not just an investment opportunity like buying stocks and shares, its a whole economy of bartering too. the only thing is that the bartering is getting slow to start up

well if you think one day you may end up in prison, then investing in cigarettes can be a cheap investment to keep your manhood intact when it comes to the bar of soap slipping on the floor in the shower block.

real world stuff though. doing shares and stock investments are not worth it, as the volitility isnt there and the fee's are worse then bitcoins.

the best thing to invest in is businesses. and by that i mean start up a small business which use 'drop shipping' suppliers. so that there's no upfront costs. you just take in the cash, and pay the drop shipper their whole sale price and give them the customers delivery address.

bitcoinstore works like this. and although they done a deal requesting very low wholesale prices if they promise to sell X amount per year (a bit of a risk) there is still no upfront costs for stock. just the risk that they cant continue offering great prices if they dont hit the promised quota

the main questions to ask are

1. will mtgox hand over the details to quash the court claim as they by law still have time to meet the demands of contract before it gets to the courtroom

2. will they pay up the $75m or run off to a non extradition country

and thats the problem if you want to have fiat or want to use fiat then anonymity will not work with exchanges. if you want to remain anonymous, localbitcoins is your closest bet

rule one of the newbie lounge

dont by anything in the newbie lounge. thats where scammers like to sell their scams.

nothing important to read here

well i have a few topics to write about in the main boards, but while im stuck in newbie land not many interested parties will read it. so here is some waffle and some random words to get my posts going.

nothing important to read here