Yup, this has nothing to do with anybody being damned. Those who stay in are choosing to ride the speculation wave on their investment. Those who don't are choosing to cut their losses. Pre-orders are always a speculative buy.
The idea of "Sunk Cost" in game theory is the only thing that fools people into thinking they're damned if they don't. They've got a lot of emotional investment, but they'll walk away with exactly the same amount of money they invested, if they chose to walk away.
If they chose to stay, they're still riding the speculation wave. Whether they win on it is another matter. And many people will continue to play the "what if" game, whether they choose to stick it out, or not.
No matter what people decide, some of them will be kicking themselves, and others will be patting themselves on the back...
There is no "cut their losses". Maybe "cut their opportunity costs". But everyone gets a full refund, so no losses... |
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Registered! Btw like your site and what you are doing. It is great  Thank you! |
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I think it's really funny that people have such a hard time simply ignoring cryptocoins that they don't like.
It's super easy for me...
Point of the post is not that I don't like the coins... it's that the original purpose is lost and now it's all about speculation and who has the best marketing and best connections. What was that original purpose, exactly? And why is that purpose lost? I personally don't care what other cryptocurrencies people are getting involved in or speculating on. It makes no difference to me, nor does it affect what Bitcoin is all about or the problems that Bitcoin solves. |
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I think it's really funny that people have such a hard time simply ignoring cryptocoins that they don't like.
It's super easy for me...
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Go home OP, you're drunk.
At least, that's the only way I can explain the unintelligible utterances in your first post.
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Paypal vs Bitcoin
As a buyer using Bitcoin
Paypal (or Visa etc) - no fees, with added protection
Bitcoins - no fees, no protection
Why would I ever want to use Bitcoins, it's the same cost, but I lose all the inherent protections against bad goods, or merchants?
As a seller using Bitcoins
Paypal (or Visa etc) - fees down to 1.4%, risk of chargeback/freeze
Bitcoin processing - 1% fees at BitPay, no risks on payments
So as a seller the economic benefit of using BTC is very small indeed, just the small added upside on risk, if I can persuade the customer to take the risk on me!
Conclusion
It's difficult to see that BTC actually changes anything when it comes to selling goods professionally.
Where it does work is in small international payments that are directly peer-to-peer, where it's cost-free structure and speed beats everything, but this doesn't seem to be where people are focussed right now, I guess since there's no point sending BTC to people who don't have the technology to receive it, or the ability to spend it after they receive it.....
I think we will begin to see merchants offering discounts for payments made in BTC. |
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I must say this kind of action speaks to the low emphasis on long-term credibility that this exchange has and a low concern for customers if they are willing to expose them to such volatility purely to fleece them for transaction fees. I think some minimum level of responsible gate-keeping should be practiced by service providers of all kinds to prevent the whole crypto-coin environment from being tarnished by unstable and possibly fraudulent activity, unfortunately none do, the attitude is completely mercenary and "get rich" even amongst entities that should have long-term perspectives, the whole culture is rotten to the core.
Why? If customers WANT to trade with a particular coin, why not let them? Obviously, they know the risks, they know it is most likely a pump n dump, but they want to participate, so why not let them? I just don't understand this sentiment of protecting stupid people from themselves. If people want to be stupid, and don't harm anyone else in the process, let them be stupid! |
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They have a 32% advantage* with coinbase over paypal when it comes to the price of payment processing.
If anything that shows coinbases pricing is very competitive... they just happen to process bitcoin.
*that does not include bitcoin network fees and exchange slippage though.....
No, they don't. They brought in 32% more revenue PER TRANSACTION compared to Paypal. Revenue is income before any expenses, fees, taxes, etc. The Usage % is the amount of orders fulfilled, revenue % is the actual amount after fees. That's why there's such a big difference.
No, it is not. Revenue % is the amount BEFORE fees. Go look it up, and PLEASE stop spreading misinformation when you don't know what you're talking about. The reason for the big difference is because people using Bitcoin decided to spend more per-transaction than people using Paypal. That's a false conclusion, bad article, and should be taken down immediately.
All it means is that people paying with Bitcoin are generally paying more per transactions. In other words, they're buying longer subscriptions, on average, than people paying with other payment methods.
The conclusion that Bitcoin "wipes the floor" with Paypal is just plain wrong any way you look at it (with regards to this particular situation).
I thought it was actual amount received after fees. Nope. Revenue is defined as the income received before any expenses, fees, taxes, interest, or other deductions are taken from it. That's a false conclusion, bad article, and should be taken down immediately.
All it means is that people paying with Bitcoin are generally paying more per transactions. In other words, they're buying longer subscriptions, on average, than people paying with other payment methods.
The conclusion that Bitcoin "wipes the floor" with Paypal is just plain wrong any way you look at it (with regards to this particular situation).
Where is this coming from? Censoring an article because you get the wrong idea about it's content or purpose? Bitcoin is very very young, and already it makes up a substantial part of the Reddit Gold payments, that's something to be proud of. Paypal has has more than 10 years to become a convenient payment processor, and they were beaten by Bitcoin in a few years. Whether your opinion is the same or not, my mind is set. Bitcoin doesn't require a fraction of the fees Paypal does, Bitcoin is faster and has a lot more potential in brick & mortar companies than paypal does, and that in it's premature fase. While Paypal is still ripping off users every day. Say what you want, but don't claim an article has to be taken down immediately because you can't understand it's purpose. Or at least change your profile pic to two large S's It's coming from the fact that the article is dead wrong in its understanding about what revenue is. The author doesn't comprehend basic financial terminology, and shouldn't be writing about financial information without first familiarizing himself further with said terminology. See my above responses for why the reported information from reddit has nothing to do with fees and everything to do with Bitcoin users choosing larger purchases over Paypal users. EDIT: I just realized that you are the author. I still advise you take the article down and familiarize yourself with some basics in financials. Maybe take a college-level course in accounting or something. |
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What were the actual grades? Most of the Casascius coins have some minor defects, i.e. lack of centering in the window, scratches on the hologram, small indents on hologram edges, scratches on the metal on reverse side. I've been considering getting some graded, but if they are graded using regular coin standards, I can't imagine that very many would grade high.
63, 63, 64, 64, 66. I don't know what is normally "high", as I've never really collected coins before. |
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That's a false conclusion, bad article, and should be taken down immediately.
All it means is that people paying with Bitcoin are generally paying more per transactions. In other words, they're buying longer subscriptions, on average, than people paying with other payment methods.
The conclusion that Bitcoin "wipes the floor" with Paypal is just plain wrong any way you look at it (with regards to this particular situation).
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bull trap at 106. sad i want to have my coins worth 500. not going to happen.....ten years from now we will be like oh you remember nintendo 64?...er i mean btc. they were fun. those were the good days.
I'm glad you can extrapolate the next 10 years of BTC price valuation from a single price point @ $106. |
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sorry, i woke up feeling like a bear today. i caught someone stealing electricity from the side of my house and it kind of set me off.
It's a good thing I don't have outdoor receptacles, because I'd probably do something pretty evil to any electronic devices leeching off my house. |
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People who want to throw 46BTC at it while they have almost no experience with cryptocurrencies make me shiver too. It makes me happy. Watching failure is watching people learn. It's also a sort of automatic feedback system for putting them in their place, egos and all. Once they lose almost all of that 46 BTC on a stupid FTC buy order, they've learned a lesson, and will refrain from making future stupid bets on brand new cryptocurrencies. I'm rather against government authorities using their power for protecting people from their own stupidity. Government should only be using their power for protecting people from other people's stupidity. And those speaking out against putting alt-coins on exchanges that seem like pump n dump schemes remind me very much of the government when it makes laws that try to protect people from their own stupidity. |
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The point is that BFL buyers are not "damned if they do, damned if they dont". They are free to keep their purchase and take the risk or cancel their purchase and dump the risk. This is the case for any investment, speculative or otherwise.
Agreed. I am a customer, and I do not feel damned. |
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Ya... it's not about money at all  FTC is all about greed. Noobs want to become early adopters to make a lot of money. Exchanges add them to make money. Miners pump up the value of the coin by talking it up over here all the time, then said miners dump the coins to make money. This whole thing revolves around money... I don't think anyone actually believes in FTC except for a handful of people. Any business is in the business of making money. That's what they're there for. But why are you mad at BTC-e for facilitating the trade of crypto-currencies when obviously people demand the trading of crypto-currencies? I just don't get it. If people want a service, what is wrong with providing said service? |
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Why should this effect your life at all? If you have no interest in the alt coins.. then don't touch their tabs real easy for anyone over 80 IQ
It's not an IQ problem asshole. It's a matter of principle. BTC-e has shown they will do anything just to put more money in their pocket. BTC-e has shown they will do anything just to allow people to trade the altcoins they want to trade. |
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VC's are POURING money into Bitcoin businesses right now. Sorry, I just don't see anything but an upside in the medium to long term. The bears might win the week or even this month, but a few months from now, the price is going to continue exploding upwards. JMO.
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So theoretically the online calculators are really a "best case scenario" where at the current difficulty rate, if you were the only one mining, this is what you could expect. Safe to assume those calculators don't take into account the other miners? Or is that what factors the difficulty rate? And I really appreciate all the quick replies. And can anyone respond to the question if your internet B/W connection has any affect to mining? Or is this a searchable topic previously covered?
That is incorrect. Online calculators take into account current difficulty (i.e., other miners). Looking at an online calculator ( http://www.alloscomp.com/bitcoin/calculator), you would make about 0.05 BTC/day with 1 GH/s. If you mine with a pool, you could expect to see around 0.05 BTC/day deposited into your QT wallet. If you solo mine, then you will only receive coins when you find a block (25 BTC), and you would expect to find a block every 25 / 0.05 = 500 days on average. So it's the same expected BTC, just different amounts of variance. |
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I am no longer going to use btc-e.
First they add novascam, now the add pumpcoin- i mean feathercoin
I was OK with PPC and TRC, but this is rediculous.
Im glad ltc is going to gox!
I don't even know anything about Feathercoin, but what's wrong with letting people trade whatever cryptocurrencies they want? I think it is awesome that BTC-e isn't afraid to add all sorts of alt coins for trading. Because feathercoin is worthless. All the noobs are partaking in one of the biggest pump and dump scams of ALT coin history. Ive never seen a coin pumped like this. And...? It's a free market. If people want to try to ride the wave of a pump n dump, let them learn their lesson the hard way. JMO. |
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