How would a Manufacturer of goods pay in bitcoin? Example: would a bed springs manufacturer who takes spools of metal and runs it through machines to create springs pay for raw material and sell it`s products in bitcoin? If so at what price? Also, would the Company that purchases those bed springs to cover them up with material before selling them to the furniture stores for bitcoin, pay for material in bitcoin as well as pay its workers in bitcoin? at what price? I think we have a very long way before bitcoin replaces fiat money  It will start with the mattress retailer, who will use a payment processor like BitPay to accept bitcoins from their customers and get paid in local currency. At some point the retailer will start asking its suppliers if any of them are willing to take bitcoins instead of dollars, or perhaps their overseas supplier will approach them and ask for bitcoins because they like the faster clearing time. In this way Bitcoin adoption starts out on the edges of the supply chain and works its way inward. |
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I'm still reading it at the moment, but it feels to me like the author just really does not like libertarians. I'm not a libertarian by any means, but it annoys me that he's linking the entire currency to one political party.  The author is a Marxist who is desperately trying to find some combination of mental contortions that can magically transform voluntary exchange into exploitation. Yet, the question of who owns which Bitcoin in itself starts to problematise the idea of harmonic cooperation held by people about economy and Bitcoin. It indicates that in a Bitcoin transaction, or any act of exchange for that matter, it is not enough that Alice, who makes coffee, wants shoes made by Bob and vice versa. If things were as simple as that, they would discuss how many shoes and how much coffee was needed, produce it and hand it over. Everybody happy.
Instead, what Alice does is to exchange her stuff for Bob’s stuff. She uses her coffee as a lever to get access to Bob’s stuff. Bob, on the other hand, uses his shoes as a leverage against Alice. Their respective products are their means to get access to the products they actually want to consume. That is, they produce their products not to fulfil their own or somebody else’s need, but to sell their products such that they can buy what they need. When Alice buys shoes off Bob, she uses her money as a leverage to make Bob give her his shoes; in other words, she uses his dependency on money to get his shoes. Vice versa, Bob uses Alice’s dependence on shoes to make her give him money. Hence, it only makes sense for each to want more of the other’s for less of their own, which means deprive the other of her means: what I do not need immediately is still good for future trades. At the same time, the logic of exchange is that one wants to keep as much of one’s own means as possible: buy cheep, sell dear. In other words, they are not expressing this harmonious division of labour for the mutual benefit at all, but seeking to gain an advantage in exchange, because they have to. It is not that one seeks an advantage for oneself but that one party’s advantage is the other party’s disadvantage: a low price for shoes means less money for Bob and more product for her money for Alice. This conflict of interest is not suspended in exchange but only mediated: they come to an agreement because they want to but that does not mean it would not be preferable to just take what they need. This relation they have with each other produces an incentive to cheat, rob, steal. Under these conditions — a systematic reason to cross each other — answering the question who holds the tenner is very important. Got it? If you and I trade coffee for shoes we live in state of blissful utopia, with no incentive to disagree or to cheat, rob or steal from each other. If on the other hand you and I decide to trade our coffee and shoes for currency, perhaps because we'd like a convenient solution to the double coincidence of wants problem, then gravity reverses itself, dogs and cats start sleeping together, and we suddenly transform into evil capitalists who will no doubt slit each other's throats and start raping kittens at the drop of a hat. |
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BitPay charges 0.99%. I don't see anyone complaining about that... The mere act of depositing bitcoins into a hosted wallet sounds a lot more like the service Blockchain.info provides for free than it sounds like the service of acting as a payment intermediary (calculating exchange rates, sending payment pages to the customer, notifying the web site when the payment is confirmed) which BitPay charges 0.99%. |
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Apart from one person on reddit that is "happy about the service since one month", is there any other person that actually got his phone charged? At what fee? At which delay? With which carrier?
I've done two successful Simple Mobile refills. May I ask for carrier, country, fee and speed? Simple Mobile is a carrier in the US. According to my archived emails I was quoted BTC3.685 on Mon, 31 Dec 2012 16:55:03 -0800 (PST) for a refill card with a face value of $50. I received the email containing the refill code 10 minutes later on Mon, 31 Dec 2012 17:05:03 -0800 (PST). |
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What is an opportunity that is being severely overlooked is for bricks and mortar businesses to become the first in their niche to accept bitcoins. Here it is, several weeks into 2013 and I still couldn't pay for a burger in the U.S. except for less than a half dozen restaurants that accept bitcoins, for instance.
This is an opportunity for retailers to grab free media attention, save on transaction fees (versus payment cards) and grow their customer base (Bitcoiners will travel out of their way to try spending their coins for a 'real world'/bricks & mortar purchase.) I've been trying to get this restaurant by having Meetups there, but not enough people show up to create any credibility, and apparently BitPay's rates aren't that much of a discount compared to what the owner is already paying. Credit card processing rates for brick and mortar stores aren't as high as they are for web stores. |
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Apart from one person on reddit that is "happy about the service since one month", is there any other person that actually got his phone charged? At what fee? At which delay? With which carrier?
I've done two successful Simple Mobile refills. |
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The result is that Cuban goods are funnelled to Florida. You're only looking at half the transaction. Cuban goods are funneled to Florida and Floridian bitcoins are funneled to Cuba. The trade occurs because each person wants what the other one has more than they want what they had before. Now the Cuban economy has more bitcoins in it, which means they can import more goods. The Floridian economy has less bitcoins in it, which means they have to produce more products in order to regain their purchasing power. There are no losers in voluntary trade. |
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These features mean that any business can accept payment from a customer across the globe at for less than a penny without having to rely on a 3rd party payment processor. |
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Ok all, if you could please comment on how this short "Bio" can be improved or altered please let me know! I really want to present bitcoin as a credible, viable tool for small business owners and persons. I need to send it to the printer today. As a reminder, this is what will appear in our weekly newsletter that is placed at each person's seat before lunch.
Mark Russell is a hobbyist trader in the emerging, web currency called Bitcoin. Mark has been involved and active with the Bitcoin markets since early 2011. He believes Bitcoin will be the most disruptive technology his generation will see in the area of digital commerce.
Bitcoin is a non-political, online, digital currency that is brought into existence at a fixed and predictable rate. A limited number of them will be issued and then no more. This means that unlike traditional currencies which are created by central banks and governments, the value of Bitcoin cannot be destroyed by inflation, nor can it be physically confiscated. There is no entity or group of persons which have rights or title to Bitcoin; there is not a Bitcoin building nor is there a Bitcoin corporation. Bitcoins are secured by advanced mathematical algorithms that prevent counterfeiting.
These features mean that any business can accept payment from a customer across the globe at a zero cost without having to rely on a 3rd party payment processor. In November of 2012, Bitcoin made headlines across the web after the world’s 20th largest website, Wordpress, began to receive Bitcoins as payment. Several months ago Iranians began to flock to Bitcoin as the value of their currency went into total free fall.
Bitcoins may be used to purchase anything from flat screen televisions, to music, to webhosting, or pizza. Any person with a smartphone or computer can send and receive Bitcoin without needing to trust a 3rd party such as a bank or credit card company. In this sense, Bitcoin is purely democratic. This “spread out” of “decentralized” nature of Bitcoin makes it indestructible by governments or Federal banking intervention.
In Las Vegas already, there are auto mechanics, realtors, handy men, hospitality services, and other successful business that accept Bitcoin. Companies such as these have the option to use local exchangers or online services to convert their Bitcoin to USD. As Bitcoin continues to be adopted, it will be seen as a currency in its own right against which all other currencies will measure their value. At the time of this writing, 1 Bitcoin is equal to appx 23 US Dollars. To learn more about Bitcoin or to start receiving and sending them, visit blockchain.info or coinbase.com
If you're talking to business owners I'd include a link to bitpay.com along with blockchain.info and coinbase.com |
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his own interpretation called zero worlds model, which states that there is no underlying objective reality at all and we are all creations of our thoughts. This isn't new. Drug-addled hippies have been proposing this interpretation of quantum mechanics for over half a century now. I'll be happy to accept this as true once I see some the slightest shred of evidence. If of these "zero worlds" proponents could jump out of a window and decide not to fall, or stand in front of a moving bus and decide not to be hit by it using only the power of their mind that would be pretty compelling. |
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I would emphasize the ability to safely accept payments from customers anywhere in the world without the requirement to deal with PayPal.
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Who is John Galt?
Satoshi Nakamoto?
He's just this guy, you know? A hoopy frood who really knows where his towel is. |
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I haven't checked out Ripple, but one thing I know is that mining was a bad idea. Also, capping currency growth was another bad idea. Whatever the Bitcoin replacement is will have a built in mechanism for increasing the currency volume in proportion to usage. Bitcoin will be like the Mosaic browser and the bitcoin killer will be Netscape. You're in the wrong part of the forum: https://bitcointalk.org/index.php?board=67.0 |
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Alex Jones deals with sensationalism and misinformation to get people emotionally invested in events they can neither verify nor change.
Stefan Molyneux applies philosophy to the areas of life we can control. This makes some people anxious because they'd rather rage at conspiracies than take positive action.
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Bumped, for the love of the show.
Just wait until it's an option for the recurring monthly subscriptions too... |
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disappointed Patience. Intermediate steps like this bring the day in which we don't need them anymore closer. |
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Fascinating! But, would not a better idea would be some type of split-key trust? Now that Bitcoin supports multisig address it would be a shame if the most prominent Bitcoin forum didn't use them when the ideal use case presented itself. |
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Full reserve is not a requirement If I was one of the donators I'd be very interested in knowing the rationale for that part. |
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Hope he didn't loose too much. I think it was about 200 BTC. |
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