Runamok said it right.

There's the ability to send bitcoin free of charge if the customer simply sends directly to the business owner's Bitcoin address.

Then there are "merchant fees" if you use BitPay or some other payment processor, and their fees are "low".

There's always that awesome option of literally zero fees, if they just accept direct payment to their Bitcoin address.

-B-

I'm not a huge fan of day trading because I have a fear that it contributes to the volatility of BTC, which in turn makes BTC look bad to those who can make BTC go worldwide (investors, businesses, startups, etc).

Its just my own thing.

But I have a friend who asked me some super newbie questions, so I offered to ask you guys:


1) What exchange do you use now?  Coinbase makes you withdraw to bank account when you sell right? Does Bitstamp allow you to retain a USD balance, so you can buy back in?

2)  Is there some very basic math you always use, because of fees?  Like the increase in BTC price must at least be above X % ... so the fee taken out by Bitstamp is covered?

3)  Do they charge a fee to buy and a fee to sell?   Whats that fee?

4)  I assume you dont use cryptsy or vircurex for stuff like this because you can't sell to USD?  

Thanks!

-B-

Here's what happened:

Cosmo had some insider information about activity that he *thought* would make the price crash.

Then he found that Bitcoin's foundation has grown substantially, and such activities barely make a dent in market price anymore.

This is why it took a poke downwards around the 16th.  Rather than a crash.

Thats my guess.

-B-

Huge.

Going to get some media contacts aware of it soon, so hopefully we'll be seeing it all over the news here.

-B-

Why do we need this when Bitcoin is supposed to do this already?

Put your money and dev efforts into improving adoption of Bitcoin.  

-B-

Crazy.

I was wondering how I hit 294 .

Seemed pretty high, but it hasn't gone up for a bit.

I registered sometime like June 2013 and have posted almost every day since.  Maybe missed a few days.

So maybe this is the number you get if you post every day for 10 months.

<----

The link above takes you directly to the point in the video when they begin talking about it.

Click and let it play ...

-B-

Yes and other articles that state if BTC were to take over the market currently serviced by Western Union and Amazon.com alone, the price would be forced upwards to $40,000 per BTC.

This is what I am referring to.

That isn't "speculation".   That is a value moved by demand/supply/commerce.

As I said there may always be a "buffer" of speculation on top of the 'real' value ... but at some point the 'real' supply/demand/commerce is going to start pushing the price upwards without stopping.  Even if it only pushes it slowly.   

Im wondering when that will begin.

-B-

You know what I am getting at.  

There is absolutely a speculation price, and a more realistic price moved by adoption/commerce demand.

There have been countless threads on the topic, usually titled with:  "Whats the real value of Bitcoin".

Countless articles.  you know what I mean.

It is not all the same thing.

This is sort of taking the conversation off track.

There are still two sets of numbers.

1)  The real value of bitcoin based on adoption and supply/demand for commerce
2)  The value of bitcoin motivated by speculation.

I don't believe its all speculation.  I believe there are two levels that make up the current price.

At some point, adoption/supply/demand for commerce will begin to push up the market price.  There may always be a buffer of speculation on top of it, but we should see a continually increasing value overall once this starts to happen.  Right now all we see are high values that "dont crash as far".  That tells me the "real value" is slowly increasing ... as a subset of the current market value.

-B-

Ok.

I still feel like there's a bubbling "number" for the real value of Bitcoin, which is "bubbling" around at ... say .... $320 .... and everything above that is speculation value.  So next month that number bubbles to $340 .... then $410 in a few months ....

Eventually at some point, that "real value" matches the "current market value" .... and from that point the numbers start to rise ... being dragged upwards by actual adoption and supply/demand.

Versus speculation.

-B-

In the most recent podcast the topic of Bitcoin came up again.   Great conversation.

https://www.youtube.com/watch?feature=player_detailpage&v=SrPz5o2_z3U#t=223

Andreas just nailed another appearance on the show too:

https://twitter.com/joerogan/status/445375387787210752

-B-

What did he end up getting, like $40,000 ?

Thats plenty to spend the next 12 months filing a lawsuit and having all expenses covered, with any average attorney fees.

I hope he does so.

-B-

I try, I try to do my doody to God and country by "buying bitcoins, spending bitcoins, and replenishing my bitcoins"  (thanks mad money machine - LTB network) ... by buying all my Amazon stuff on Overstock.

But 9 times out of 10  .... they don't have it.  

And 9 times out of 10 .... amazon does.  

Thats 90% of the time.

Apparently Amazon is *that much* bigger than Overstock.  Bummer.

-B-

(yes i misspelled duty on purpose, im from the beavis & butthead generation)

We all saw China frantically purchasing all at once, thereby shoving the price from $300 to $1200 practically overnight.

Now all that nonsense is gone, Gox failed, etc.

I just read an article today stating:

"The number of business accepting Bitcoin as a currency has grown sharply in the last year.  They now number in the thousands."

At some point adoption levels need to start "latching into" the market price, and begin "dragging it upwards". At some point, speculation value will be replaced by demand, right? Its just strange to me that we aren't seeing that yet.  I often wonder what the "true value" of a Bitcoin is, if you were to eliminate speculation.

By true value, I mean its value supported 100% by adoption, commerce, and demand for more.  We must still be in the lower hundreds.  Because despite thousands of new merchants, the price doesn't seem to have begun nudging upwards permanently.

-B-

Thread:

Fail.

Poster cosmofly:

Fail.

Love,

March 17th.


Mine was deleted too.



-B-

wrrraaaaooooonnnggg.

-B-

Is the word around town that he used the donations to hire the attorney?

-B-

"This isnt about you clearing a building as a one man army Haha!  This is about your personal protection, and the protection of your family"

Right ...

That's why they have semi automatic assault rifles that can fire 60 rounds per minute.

Because as we all know, a minimum of 60 bullets sprayed all over the room is necessary to stop a burglar.

-B-

Its a joke. Irony.  Contradictory.  Nonsense.  =  Humor.

The comments under the video are equally as bewildered: "Its supposed to be Coinbase me some Bitcoins" <----

Its a joke.  Cuz its PayPal.   And Bitcoin.  And ... nevermind.

I thought people here were smarter than the average bears :-P

-B-