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461
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Economy / Economics / Re: A question about the general economics of BTC.
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on: July 06, 2013, 04:16:07 PM
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I think this goes in this thread. Basically, I'm kinda new at Bitcoin mining, but I know enough to get around. However, a question about the economy.
"What does a buyer of bitcoins use them for in the real world?" I know, for example, that the person may be investing for later. What about if a person was selling physical goods for Bitcoins, like a boat. The person who sold the boat has received the Bitcoins, but what is he/she going to do with them? If the received BTC were to be sold on a converter like Mt Gox, what would the person buying the Bitcoins for real money use the Bitcoins for?
I'm kinda confused.
The goal would be that since someone is offering a boat > BTC , someone is further willing to offer the receiver some physical good, or something he elsewise desires, for those BTC he received. What's the lesson? We are the hurdle to adoption. I love BTC for investment and speculation - but I realize it can't be as great of a tool for either of those without being what it's supposed to be first, a way to transmit some pretty important information, a store of meaning so to speak, vs other objects. In other words, I advocate and do purchase items from people with BTC, and always offer to accept BTC, even if it isn't something I expect to get a response from - it lets them know I do accept it. Someone accepts it.. something to think about in the back of your mind, if you understand. I use bitcoins to buy pizza, and stuff from Amazon/Lowes via Gyft. With a lot of merchants signed up with Bitpay, there's more and more places to spend coins. However, I think the weighted majority of these merchants are taking fiat cash, and the coins are sold on the exchanges. This puts more downward pressure on the price because we can only rely on those same people buying back their coins from the exchanges, or more people getting into Bitcoin. Until more merchants actually keep the Bitcoins they take in, and pay their employees and invoinces in Bitcoin, I think the price will actually go down at first, as acceptance grows among merchants.
This is relevant to what I'm saying completely. |
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462
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Economy / Speculation / Re: 2011 crash topics
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on: July 06, 2013, 06:12:03 AM
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Really fun, you should do more.
My favorite is the "Is the Manipulator..."? I'd also like sources for fun reading. I've been doing a lot of back reading tonight.
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464
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Economy / Currency exchange / Re: Unload Large Amount of BTC--- California, Nevada, Arizona
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on: July 05, 2013, 09:33:20 PM
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He is trying to get cash in hand guys...probably trying to avoid taxes which is understandable, I mean US sucks as it is, moneypak will not do, it is linked to your SSN when u redeem it and thus they can trace it too. You unload $3000 in one day of moneypaks I'm sure a couple flags will go up.
The fear I smell in a lot of these threads of the US is telling - chilling effect in full force. Not that it isn't unjustified per se.. |
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466
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Economy / Speculation / Re: How low is it going to go? $25, $15, $5, $2?
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on: July 05, 2013, 09:09:05 PM
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Except the dollar itself is in a bull trap so that too may collapse. Thus commodity prices in terms of dollars will fall upwards, so to speak?
IF that happens, it'll take a long time for that to play out. I'm not disagreeing with you, but Helicopter Ben's been trying to crash the dollar as quickly as possible. Seems people's faith in the green filth is tough to crush, however... Kind of shocking. |
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468
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Economy / Computer hardware / Re: [WTS] PSUs, 5850, 5870, 560 ti, mobos.
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on: July 05, 2013, 03:12:51 PM
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price of cards?
I don't really have a fixed price - looking for btc, taking offers depending on the cards - 5850, 5870 vapor-x, 560 ti. One of the cards doesn't hash, but displays video.. maybe that's just my mistake or a hardware complication. It's one of the Gigabytes with the copper tubing. United States. I have no fear of worldwide shipping. How much RAM? For what? Sorry, how much RAM do you have to sell? Didn't picture it, but have a variety of 1GB/512/2GB sticks. Various brands and whatnot. |
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469
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Economy / Computer hardware / Re: [WTS] PSUs, 5850, 5870, 560 ti, mobos.
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on: July 05, 2013, 03:12:17 PM
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right then - i'm interested in ANY NES/SNES consoles/controllers
i like the look of that motherboard with the 5 blue PCI-e connectors... also looking for a socket 775 motherboard with 3 or more slots.
Do you have 8GB matched DDR2 800 or 1066 preferably.
I do not have matching RAM for the MSI board you speak of. I have an MSI with a PCU (AMD Sempron), and one without a PCU. They have a lot of slots, on board power button, electronic error code display, it's actually quite nice. I have at least a SNES console model 1 available, just the controller and system or hookups desired as well? Again, PM me. I might have a spare NES, or at least one that just needs a new 72 pin connector (easy as pie). |
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470
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Economy / Computer hardware / Re: [WTS] PSUs, 5850, 5870, 560 ti, mobos.
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on: July 05, 2013, 02:05:33 PM
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price of cards?
I don't really have a fixed price - looking for btc, taking offers depending on the cards - 5850, 5870 vapor-x, 560 ti. One of the cards doesn't hash, but displays video.. maybe that's just my mistake or a hardware complication. It's one of the Gigabytes with the copper tubing. United States. I have no fear of worldwide shipping. How much RAM? For what? |
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471
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Other / Beginners & Help / Re: Growth hinders purchasing, hinders Bitcoin.
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on: July 05, 2013, 01:52:54 PM
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I'm just wondering why I would ever spend any of my coins when their value could one day be at least £1000 or more? I'd just be like that guy who spent 10k BTC on a pizza which is worth up to $750,000 now. Without buying it is really just an exercise in putting infrastructure in place to support the system which one day will be useful.
I know some of you have made Bitcoin purchases, but why?
I've made a ton of BTC purchases. I consider the conversion at the time, decide if it is agreeable, and do it. In a time of turmoil my purchases are reduced. In the near future, when I accept BTC, despite volatility, I'll accept on the 24 hour average and if I decide it is a risk for business to hold, I will sell at market rate at the time for the equivalent, if not, I will hold and speculate. There will be only a tiny portion of my business in BTC I suspect, so the impact will be minimal while helping exposure and allowing me to speculate or hold/spend coin. Some of the coin I receive, if any, will go to further purchasing products with BTC, such as what I can find here that will accommodate or complement what I'm trying to offer. I've contacted a couple of folks regarding it... So I'd like to hold and buy, trade and sell, use, give, and receive. I like it all, in any state of the market really. |
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472
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Economy / Computer hardware / Re: [WTS] PSUs, 5850, 5870, 560 ti, mobos.
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on: July 05, 2013, 01:49:08 PM
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price of cards?
I don't really have a fixed price - looking for btc, taking offers depending on the cards - 5850, 5870 vapor-x, 560 ti. One of the cards doesn't hash, but displays video.. maybe that's just my mistake or a hardware complication. It's one of the Gigabytes with the copper tubing. United States. I have no fear of worldwide shipping. |
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473
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Economy / Computer hardware / Re: [WTS] PSUs, 5850, 5870, 560 ti, mobos.
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on: July 05, 2013, 01:47:04 PM
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Country?
In his profile it states Florida... so i assume US. I'd be interested in a motherboard and possibly any NES/SNES stuff you have  I have plenty of varying motherboards (older/more modern) and plenty of SNES/NES stuff! Not sure the NES stuff is listed yet, nor all the SNES stuff, but check out the signature link. PM me for further discussion - what kind of motherboard are you after exactly? |
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475
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Other / Politics & Society / Re: U.S. Postal Service Logging All Mail for Law Enforcement
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on: July 05, 2013, 01:33:37 PM
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From the New York Times, "U.S. Postal Service Logging All Mail for Law Enforcement": The Mail Isolation Control and Tracking program was created after the anthrax attacks in late 2001 that killed five people, including two postal workers. Highly secret, it seeped into public view last month when the F.B.I. cited it in its investigation of ricin-laced letters sent to President Obama and Mayor Michael R. Bloomberg. It enables the Postal Service to retrace the path of mail at the request of law enforcement. No one disputes that it is sweeping.
“In the past, mail covers were used when you had a reason to suspect someone of a crime,” said Mark D. Rasch, who started a computer crimes unit in the fraud section of the criminal division of the Justice Department and worked on several fraud cases using mail covers. “Now it seems to be, ‘Let’s record everyone’s mail so in the future we might go back and see who you were communicating with.’ Essentially you’ve added mail covers on millions of Americans.”
I am having some trouble seeing the problem with this. What is US Mail being used for anyway? Less each year. Although they are trying to stay alive by underpricing vs FE and UPS in package delivery. So then, they are implementing tracking control - poorly - that FE and UPS had all along? Kidding? You are failing to see a problem here? |
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478
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Economy / Service Announcements / Re: New service for the bitcoin community (Bitcoin to cash with zero fees)
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on: July 05, 2013, 01:05:39 AM
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Certainly this seems like a nice escrow service charging 2% to the buyer.
Unfortunately, the fact that the bitcoins need to be transferred to a wallet owned by a person or persons who are not clearly identified leads to substantial risk for both buyer and seller. There would be no way for either party to legally go after the owners of that wallet in the event the site simply goes down and the BTC are moved elsewhere.
Certainly, a little faith is required with a new service. I simply would like to report that it appears successful in what might be described as personal experience so far, that doesn't mean there's no risk involved. |
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480
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Economy / Service Announcements / Re: New service for the bitcoin community (Bitcoin to cash with zero fees)
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on: July 04, 2013, 01:12:02 AM
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-be able to verify via online banking that there has been a cash deposit made into their account for the correct amount.
-receive a scanned copy of the actual deposit slip used during the deposit transaction.
-receive a scanned copy of the business card of the bank employee who accepted the deposit who can be contacted to verify the deposit. How can the seller know with certainty that cash was deposited (versus a personal check, for instance)? Some banks charge extra to perform a counterfeit bill check at the time of deposit. Is it possible the buyer passes a bogus bill, and then the funds are pulled from the seller's account a day or so later? Questions best for the bank, I think. Though when I see deposits on even small regional bank, it lets me know, cash, check.. Good luck depositing a counterfeit Bernankedollar. I wouldn't count on that percentage, have you had the latter happen?? Edit: Are you in the States? If not, no clue. |
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