It's called 'cashing out' 

I think you have a good explanation. Have you sent them an email? Maybe if some of us do, they will start thinking about it.

Someone (major) has got to make a start and maybe the Wikimedia foundation would not be the worst chioce.

Thank you for this thread! I think the topic is crucially important!

I was at a peer to peer lending conference in NYC a couple weeks ago and tried to explain Bitcion to an institutional investor who had massive funds under management. He's heard of it before and really liked the concept after I told him some more details. The only questions he kept asking was if any major retailer is already accepting it. Even though Bitcoin requires some degree of explenation, everybody who can use a smartphone has sufficient technical abilities. So my view is, that's not the real problem.

If we want Bitcion not just to survive, but to become really succesfull (i.e. lots of transactions for goods and services) at least one of the major retailers or e-commerce businesses need to accept it. That will motivate an average non-tech person to use it as a means of payment. For this to happen, the big merchant which starts accepting Bitcoin must be one that suffers deeply under the current payment methods in financial terms. Can anyone here think of such a merchant? Ideally it would be one with international transactions because those have the highest fees longest durations. Such a merchant can also deal with services, it doesn't only have to be physical goods.

This brings me to financial services. Fees are generally high for all sorts of transactions and many people don't trust financial services firms and banks anymore. Currently many of the early Bitcoin adopters seem to regard it as an asset class. But if we can build a new type of financial services industry around it that leaves behind the mistakes of the current system it could also be a starting point to a larger adoption of Bitcoin.

I believe that what has been said in the previous posts is one of the ultimate goals of Bitcoin. That it is eventually used as a currency to purchase goods and services. That's where one of the real advantages of Bitcoin is, it's a superior means of payment which does not lose value only because a central bank decides to print more of it.

Ultimately an excessive money supply will result in more inflation. Governments typically refinance their outstanding bonds on a regular basis. That's an ongoing/revolving process. If they know (by announcement) that the central bank will buy more and more of their bonds, they will keep issuing them. This floods the economy with money. But if the economy cannot absorb all the money because it doesn't grow at a rate which is comparably to the monetary growth, at some point you could have an undesirable outcome.

I think the best way to fix the high vol of BTC is to go out and promote the use of BTC. The more merchants accept BTC and the more individuals pay with BTC, instead of using it as a speculative asset class, the less vol we will have. That's because if we have 100 million people using BTC, the impact of buying and selling by those who speculate exchange for fiat will be much less than if we have something like 4 million users.

In the fiat world you usually have a base interest rate and on top comes a compensation for risk. Then you should get something that's called an arbitrage free interest rate. Since there is no central bank in the Bitcoin world, we don't have a real reference as to what is the 'right' interest rate. A simple answer would be: the rate where supply and demand match. So when someone offers a particular interest rate, it is interesting to see whether they find enough lenders.

Die Handynummer prüfen wir momentan tatsächlich noch nicht. Wir sind gerade dabei den SMS Server einzurichten, das sollte in den nächsten Tagen fertig sein.

Die AGB findest du unter https://bitbond.net/terms_of_use Den AGB stimmst du zu, wenn du dich registrierst und das Häkchen bei "I have read the terms of use and accept them." setzt.

Natürlich "müssen" Zinsen garnichts widerspiegeln. Aber die meisten Leute verleihen ihre Bitcions auch nicht ohne eine entsprechende Entlohnung. Die Zinsen werden die meisten Anleger mit anderen Anlagealternativen vergleichen und wenn ein Bitcoin Kredit vergleichsweise zu wenig Ertrag bringt, werden sich nicht genug Anleger finden. 5% pro Woche ist aber tatsächlich extrem viel und so hoch sind die Zinsen bei uns nicht.

Danke.

Da bei uns ein Sachdarlehensvertrag geschlossen wird, gibt es auch einen Anspruch auf Rückzahlung den wir bei Nichtzahlung einklagen würden. In Ländern außerhalb Europa/Nordamerika wird es natürlich schwieriger mit der Eintreibung.

Aus meiner Sicht ist die Internationalität einer der Vorteile von Bitcoin, deshalb machen wir eine internationale Plattform. Meiner Meinung nach wird sich Bitcoin vor allem in solchen Ländern als echte Alternative zur lokalen Währung durchsetzen, in denen die Bevölkerung kaum Zugang zu Banken und zum Zahlungsverkehr hat. In diesen Ländern ist unsere Plattform dann auch eine der sehr wenigen Möglichkeiten einen Kredit zu bekommen. Der Anreiz diesen zurück zu zahlen besteht darin, weiter einen Kredit zu bekommen. Wer bei uns einen Kredit nicht zurück zahlt oder sich im Verzug befindet kann kein neues Projekt veröffentlichen.

Den Anlegern steht es natürlich frei, welche Projekte sie finanzieren wollen. Wir mischen uns da nicht ein.

Sounds interesting! Is it something similar to this http://bitcoinsearchengine.com./ ? That one is not very convenient to use. Can you describe it a bit more?

Die Zinsen müssen das Risiko einer Anlage widerspiegeln. Einer der Gründe warum das Bankensystem kurz vor dem Zusammenbruch stand (/steht) sind zu niedrige Zinsen.

If you need credit from time to time a credit score is a good thing. Because no matter who you take the credit from - if they don't know you they want need some kind of reference. Credit is only undesirable if used to too much, just like other things.

Many business owners face a liquidity shortage from time to time or need to make larger investments. If there was no credit score their number of potential lenders would be much smaller than when you have credit scores. So I guess for business owners a credit score is more important and therefore more valuable than for other people.

They definitely chose a good way to answer!

I agree that trust is a crucial factor. Maybe it's just a question of perspective. Trust can drive demand if other alternatives lose trust and there is a shift from one currency to another. How is trust created? You mentioned mass acceptance for gold as one property. I think it could be one driver for Bitcoin, too and we're not that far away from each other.

Mein Mitgründer und ich haben vor kurzem eine sogenannte peer to peer lending Plattform gestartet. Auf https://bitbond.net/ könnt ihr Projekte einstellen wenn ihr euch Bitcoins leihen wollt oder aber die Projekte von anderen finanzieren.

Der Vorteil hier ist, dass wir als Plattform eine Kreditprüfung durchführen und die Identität des Kreditnehmers feststellen um mögliche Betrüger fern zu halten. Nach außen hin kann der Kreditnehmer aber anonym bleiben. Probiert es aus, man kann auch mit kleinen Beträgen anfangen um es zu testen.

Do you mean Bitcoin itself?

This is another option you could try https://bitbond.net/

You can try our service at https://bitbond.net/