I agree with all of this....
Sometimes the people in this thread make way too many assumptions. understatement of the week. Not going to take the time to refute what BA says, but its a load of shit and has been explained ad nauseum elsewhere. |
|
|
|
looks about right.  |
|
|
|
I've paid a total of about $2k usd in rent over the last 3 years while traveling the world. It's far easier than most think.
Elaborate? Id live a guide post. If you have a just a shred of cash lying around, its easy to either: 1. Live cheaply traveling in a foreign country (Goa, India or Thailand for starters) 2. http://www.wwoof.org/ is an amazing resource all over the world which provides opportunities for living very frugally in exchange for work. On the low end it could be 10 hours a week for a roof over your head and on the high end it could be 30 hours a week for a room& board with extra perks (training/location/whatever). If you arent paying rent or a mortgage, its amazing how much extra cash you can have when you are able to make money online living cheaply using one of many options. |
|
|
|
There is already a solution for what you are talking about. It's called the blockchain.  All that's needed will be provided by *technological* solutions, like 2 of 3 signing, not by trust. I can't believe how this idea is even seriously discussed here. GTFO! The issue is instant confirmations... something the blockchain does not address.... |
|
|
|
|
Another solution would be to have a verification system for online wallets, so that transactions from verified online wallet providers would be treated as verified immediately.
It might work something like this:
User side:
1. User sends coins from X wallet into verified online wallet (blockchain for example). It is considered verified (and ready to be accepted immediately) after 12 confirmations.
2. User walks into store and is able to have their payment verified immediately.
Verified wallet side:
Wallet has specified bitcoin addresses which it uses to send from so that the transaction can be received and verified immediately by POS machines.
Verification system would not need to be terribly complex. It could simply be a protocol that anyone could follow with their transaction history listed publicly (in aggregate) to assure validity & safety.
|
|
|
|
Is this going to end or is it ongoing?
Scam is on going it seems. He owes money to dozens of members of this community, and still people is so desperate to have an Avalon that bids in the scammer's auction. I'm amazed by the fact that he doesn't need to provide any guarantee on the fact that he won't run with the money... Nor provide any collateral to protect his investors in case he just decides to stop paying dividends. It depends on what your definition of scamming is. I never took that bet seriously, nor can I see why anyone would. This, on the other hand (like Matt's work with Bitcoinmagazine) is completely valid. The contexts are entirely different. |
|
|
|
Literally silkroad! You are absolutely right! Bitcoin has no future in legal world! Coz there nobody need such volatile currency or asset.
Only drugs, whores, gambling, weapons and other stuff which no other choice except bitcoin.
There are other completely legal things which will require bitcoins. You are Russian, I don't think I need to tell you in plain words. Bu first world people probably can't get it. lol did you just call Russia a second (third?) world country? Hmmm, why did they huddle together with nations like China to form the BRICS? There ain't one developed nation in this whole group besides South Africa, which unfortunately has a life expectancy of less then 50 years. I dont think its about development in this case, its about developing a competitor to the USD/EUR (ie joining forces to call the shots on a macroecon level). |
|
|
|
|
I've paid a total of about $2k usd in rent over the last 3 years while traveling the world. It's far easier than most think.
|
|
|
|
Literally silkroad! You are absolutely right! Bitcoin has no future in legal world! Coz there nobody need such volatile currency or asset.
Only drugs, whores, gambling, weapons and other stuff which no other choice except bitcoin.
There are other completely legal things which will require bitcoins. You are Russian, I don't think I need to tell you in plain words. Bu first world people probably can't get it. lol did you just call Russia a second (third?) world country? |
|
|
|
|
Is this going to end or is it ongoing?
|
|
|
|
Whelp, just cashed out a not insignificant percentage of my btc holdings for ltc, and bought some CFDs. It's gonna be fun to see if it pays off, and if it does, if it's more profitable than if I'd just stayed in btc. That looks like a mighty large triangle forming... just in time for the weekend?  Good luck with LTC... that appears to be a ridiculous example of pump n dump in the making. |
|
|
|
He is either the most relaxed dude in the world (look at his eyes... they are nearly shut the whole time) or high as fuck. Or both. |
|
|
|
Just to be clear, I do think people will spend their BTC as the price rises. The higher it goes the more digital millionaires appear who in fiat terms are only middle class, nervous as hell that any glitch or hack could dash their chances at financial freedom forever. They will progressively sell and also spend more and more as their wealth grows, even if that's only 10% off the top. The more spending options they have the less they will need to sell off directly.
So the more merchant adoptiont the better. I only mean to say that it may be a mistake to look for transactional value to increase in lockstep with the price. Store of value is HUGE right now. Any billionaire in the know (about Bitcoin) would be insane not to convert at least a small portion of their assets into bitcoins. Gold, Swiss bank accounts, property, offshore holdings - none are completely safe anymore, and neither are secrets held by others. With Bitcoin you can have your own secret stash that NO ONE will ever know about if you simply know what you're doing.
Yep, I also am spending my coins. I used bitspend to buy a memory card and a guitar and will use 9flats to make my way around europe this summer. |
|
|
|
Also, - anyone know of any gold dealers in europe that accept bitcoins?
Cannot speak highly enough of http://bitcoincommodities.com/ - have used them before and received the coins very quickly nice one, thanks. |
|
|
|
I'm actually starting to doubt the importance of Bitcoin being used for a wide range of transactions at this point.
Look at gold! It's got just a few interesting non-store-of-value uses where no substitute is feasible, and the rest of the market price is all accounted for by its store-of-value functionality. Well, so does Bitcoin. Gold shows that only a tiny fraction of use value is needed to back the store-of-value value. Right now the world may need the latter far more than the former, and bitcoins have some huge advantages over gold as a store of value, especially in these times.
bingo. Stage 1: store of value Stage 2: value exchange Some are trying to force it now (bitcoinstore) and I personally dont think its ready for such a thing. I sure hope I'm wrong, but we will see I suppose. It doesnt need to be a perfect value exchange mechanism yet... It has so much functionality left under the hood that we havent even scratched the surface yet really. |
|
|
|
|
Show Posts
