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1  Economy / Service Discussion / Re: Bitpay ACH question on: May 09, 2017, 03:03:02 PM
can anyone give me some advice here?

Go to this website and watch the video at the bottom of the webpage: https://help.bitpay.com/businesses-and-organizations/getting-paid/what-are-my-settlement-options
2  Economy / Economics / Re: Why Bitcoin if Doomed on: February 10, 2017, 08:08:50 AM
There are a max of 21 million bitcoins. lets assume 5% of those are lost to forgotten addresses or other accidents. We now have 20 million coins. At a price of $1,000 per coin, that is 21 billion USD as a market cap. You cannot have a currency with such a low, irreversible cap. I do not see a future for BTC unless it rises to $100,000 per coin, which is unlikely
 Thoughts?

1 BCT=100 million satoshi
21 million BCT= 2.1 quadtrillion satoshi
1 BCT=$1,000 per BCT
21 million BCT=$21 billion dollars
100 million satoshi=$1,000
2.1 quadtrillion satoshi=$21 billion dollars
You figure the rest.
3  Bitcoin / Bitcoin Discussion / Re: If Bitcoin moved above $10,000 USD per coin what would you do? on: September 08, 2016, 04:22:39 PM
If everybody is selling there bitcoins. Who is going to buy them?
4  Bitcoin / Bitcoin Discussion / Re: When can we buy fried chickens with bitcoin. on: July 04, 2016, 05:20:36 AM
With many theories and probability streaming over the worldwide media, bitcoin was foreseen to be the future legal tender in the international market in the near future. But the question is when will it happen. In the Philipines using a third party company the so-called coins.ph will allow you to pay electric bills, water bills, telecommunications billing. This small event show the potential future of bitcoin as an international legal tender. Soon we buy fired chickens with bitcoin.

Bitcoin was never meant to buy your daily groceries or fried chicken. It doesn't have the basic characteristics to become a normal currency like USD. Bitcoin is an alternate investment route and one should treat bitcoin like that only.

Invest for a long time and you can make your dreams come true. If you spend your bitcoin for buying your daily stuff, I'm sure you will regret one day for sure.

I think your are wrong. It is not meant for investment. It is a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, bitcoin is pretty much like cash for the Internet.
5  Bitcoin / Bitcoin Discussion / Re: when someone say blockhain technology do they mean blockhain bbiitcoin? on: April 23, 2016, 02:53:36 AM
Partial quote form Bitcoin.org vocabulary webpage:

"Bitcoin

Bitcoin - with capitalization, is used when describing the concept of Bitcoin, or the entire network itself. e.g. "I was learning about the Bitcoin protocol today."
bitcoin - without capitalization, is used to describe bitcoins as a unit of account. e.g. "I sent ten bitcoins today."; it is also often abbreviated BTC or XBT.
Block

A block is a record in the block chain that contains and confirms many waiting transactions. Roughly every 10 minutes, on average, a new block including transactions is appended to the block chain through mining.
Block Chain

The block chain is a public record of Bitcoin transactions in chronological order. The block chain is shared between all Bitcoin users. It is used to verify the permanence of Bitcoin transactions and to prevent double spending."
6  Other / Off-topic / Re: When is Bitcoins going to die? on: April 06, 2016, 02:45:04 AM
Bitcoin won't die as long as people continue to use it on a daily basis. I think the only thing that could hinder Bitcoin's performance is if there emerges a new crypto coin with better features that will overtake Bitcoin. I highly doubt there will be a massive price crash that will push people away from it but anything is possible. But still a new innovative digital currency will most likely throw Bitcoin into oblivion.
I have recently heard of this new coin titled HTML5 which I believe might be similar. Not to imply that I feel it'd take over BTC.

HTML5 is a markup language used for structuring and presenting content on the World Wide Web. It is the fifth and current version of the HTML standard.
7  Bitcoin / Bitcoin Discussion / Re: Bitcoin vs Venmo on: January 21, 2016, 09:22:34 AM
what are the fees on venmo?

If there's still fees, its similar to paypal. 
so , big deal.

plus its still moving fiat around.

bitcoin is a true p2p currency.

https://venmo.com/about/fees/
Quote
There is a 3% fee on credit cards and some debit cards. Receiving money through the Venmo app is always free.
wire transfers are free too

Wire transfer fees charged by the 10 largest U.S. banks:
Banks                    Domestic - Incoming   Domestic - Outgoing   Foreign - Incoming   Foreign - Outgoing
Bank of America               $15                     $25                           $16                            $45
Chase                       $15                     $30                           $15                            $45
Wells Fargo                       $15                     $30                           $16                            $40
Citibank                       $15                     $35                           $15                            $45
U.S. Bank                       $20                     $30                           $25                            $50
Capital One                       $15                     $25                           $15                            $50
PNC Bank                       $15                     $25                           $15                            $45
TD Bank                       $15                     $25                           $15                            $40
BB&T                               $15                     $25                           $18                            $65
SunTrust Bank               $15                     $25                           $30                            $50
AVERAGE                       $15.50                     $27.50                   $18.00                    $47.50

8  Bitcoin / Bitcoin Discussion / Re: Bitcoin is NOT a currency debate! on: July 15, 2015, 08:56:42 PM
Bitcoin is can be commodity and can be a currency too, it's depends on you used it, you look at the value of btc to fiat exchange, and you see bitcoin as commodity which only can exchange to fiat only, you need see is widely, now a lot merchant or company accept bitcoin as payment processor, it's prove if bitcoin can be a currency.

Do you know what currency makes currency or funds for that case?

The fact that a merchant in a particular country has the legal obligation to accept it. That simple fact above all the rest makes it currency/funds. This means that a merchant in the US can not refuse to accept USD for a product or service. As to bitcoin no such obligation exists hence NOT A CURRENCY. May be a token of some sort but not a currency.

quote from U.S. DEPARTMENT OF TREASURY website about legal tender question

"Legal Tender Status
 
I thought that United States currency was legal tender for all debts. Some businesses or governmental agencies say that they will only accept checks, money orders or credit cards as payment, and others will only accept currency notes in denominations of $20 or smaller. Isn't this illegal?

The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled "Legal tender," which states: "United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues."

This statute means that all United States money as identified above are a valid and legal offer of payment for debts when tendered to a creditor. There is, however, no Federal statute mandating that a private business, a person or an organization must accept currency or coins as for payment for goods and/or services. Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise. For example, a bus line may prohibit payment of fares in pennies or dollar bills. In addition, movie theaters, convenience stores and gas stations may refuse to accept large denomination currency (usually notes above $20) as a matter of policy."
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