what bitcoin is meant to be

[thebenjamincode]

i believe on bitcoin's future
and i believe that it should be used as a currency/money rather than an investment.
the technology of bitcoin could revolutionize the way we remmit our money

i believe bitcoin exchanges like BTER and other exchanges alike should have more features and publicity of the owners. i am very proud of my country's bitcoin exchange because they focus on innovation rather than making money.

the website that im reffering to is coins.ph
they offer a variety of services aside from money remmitance like

you can pay electricity bills, credit card, insurance and alike using bitcoin
you can trade btc to php (my country's local currency)
you can buy mobile load using BTC

and aside from the services that they offer
they also attend some meetings and conference which you can see on their facebook page
they are not afraid to show themselves to the people
that is what the BTC exchanges needs nowadays.

its not just about the security of the website but also the transparency of the owner to their clients

 
i hope someday, other exchanges would have more features other than a trading platform which focuses more on bitcoin to be used as money rather than an investment

[orsotheysaid]

An exchange should be as transparent as posible, and with all regulations on point.
Winklevii brothers are doing it right.

[finnile]

An exchange should be as transparent as posible, and with all regulations on point.
Winklevii brothers are doing it right.

I think after the release a lot of current exchanges would become obsolete

[New2this]

OK, Please don't blast me for my ignorance. I have just come to learn about bitcoin and I am a bit confused. I have read the various websites explaining this and I see the advantages however, I am still confused on one point. Someone wants to pay me using bitcoin let's say $1000 USD in bitcoins. How do I convert those bitcoins into actual currency I can use to pay my house payment or buy groceries at the store? Thank you for explaining this to me.

[inBitweTrust]

OK, Please don't blast me for my ignorance. I have just come to learn about bitcoin and I am a bit confused. I have read the various websites explaining this and I see the advantages however, I am still confused on one point. Someone wants to pay me using bitcoin let's say $1000 USD in bitcoins. How do I convert those bitcoins into actual currency I can use to pay my house payment or buy groceries at the store? Thank you for explaining this to me.

Bitcoin is an actual currency, think of it similar to a foreign currency.

There are many ways to exchange your bitcoins for dollars with services like https://coinbase.com and https://circle.com(it is as easy as using paypal) or you can keep your bitcoins and buy things in 100,000s of stores directly or with amazon for 15-20% added discount https://purse.io/ , just because you used bitcoin. Many merchants accept bitcoin directly but those that don't can indirectly accept it by buying a giftcard with bitcoin which gives you an added 3% discount with services like gyft.com

[neurotypical]

OK, Please don't blast me for my ignorance. I have just come to learn about bitcoin and I am a bit confused. I have read the various websites explaining this and I see the advantages however, I am still confused on one point. Someone wants to pay me using bitcoin let's say $1000 USD in bitcoins. How do I convert those bitcoins into actual currency I can use to pay my house payment or buy groceries at the store? Thank you for explaining this to me.

It depends where you are from. If you are from US use coinbase.
You can also use ATMs or find a "bitcoin street" where merchants accept bitcoin directly.

[Q7]

i believe on bitcoin's future
and i believe that it should be used as a currency/money rather than an investment.
the technology of bitcoin could revolutionize the way we remmit our money

i believe bitcoin exchanges like BTER and other exchanges alike should have more features and publicity of the owners. i am very proud of my country's bitcoin exchange because they focus on innovation rather than making money.

the website that im reffering to is coins.ph
they offer a variety of services aside from money remmitance like

you can pay electricity bills, credit card, insurance and alike using bitcoin
you can trade btc to php (my country's local currency)
you can buy mobile load using BTC

i hope someday, other exchanges would have more features other than a trading platform which focuses more on bitcoin to be used as money rather than an investment

Hey that's great. That would certainly bring some value added services rather just focus on currency exchangers alone and that is especially on Money remittance for expatriates. Would be great to see that becomes a standard benchmark someday.

[cellard]

An exchange should be as transparent as posible, and with all regulations on point.
Winklevii brothers are doing it right.

I think after the release a lot of current exchanges would become obsolete

Yeah same. Why the hell would I put my money anywhere else? they are all amateurs compared to Winklevii and that other exchange thats partened with the NYSE. Its called coinbase?

[Nerazzura]

this is the element of "radical" this digital currency. In this context, Bitcoin basically want to go back to the period before the state act, in a way that is entirely based on the exchange of pure faith, faith that the digital exchange tool contains a certain value without the slightest connection with any formal authority.

Some people say that this is not a sign that the world is now back in the past, but instead jumped into the future, in the era of post-state. Such stepping also found in many other things, and the formation of matter that is now referred to as the post-modern culture, the elements of which penetrated everywhere, from the style of clothing, home architecture, a school of philosophy.

We can argue about the length of such an interpretation. But it is clear that the element of pure belief that is the key word Bitcoin. This is the strengths and weaknesses as well.

The state has an address, identity and locus of responsibility. If there is a problem with dollars, we know who touched??

[vm_mpn]

i believe on bitcoin's future
and i believe that it should be used as a currency/money rather than an investment.
the technology of bitcoin could revolutionize the way we remmit our money

i believe bitcoin exchanges like BTER and other exchanges alike should have more features and publicity of the owners. i am very proud of my country's bitcoin exchange because they focus on innovation rather than making money.

the website that im reffering to is coins.ph
they offer a variety of services aside from money remmitance like

you can pay electricity bills, credit card, insurance and alike using bitcoin
you can trade btc to php (my country's local currency)
you can buy mobile load using BTC

i hope someday, other exchanges would have more features other than a trading platform which focuses more on bitcoin to be used as money rather than an investment

Looks like you guys are ahead of the curve if you can pay your utilities with Bitcoin. Personally, I could care less - I treat Bitcoin as an investment only... Not arguing it can be used as a currency rather effectively, but I have too much respect for preciousness and rarity of Bitcoin. It's difficult and expensive to mint, there are only 21 million will ever be made and everybody will want one. Will do my best not to piss any away. I can use worthless paper to buy crap I do not need.

[pooya87]

i liked this part:
it should be used as a currency/money rather than an investment.
i am hoping to see that day to come

[Brooker]

Bitcoin is meant to be a decentralized currency and in-built payment system. Nothing more but you can make of it and use it how you wish.

i believe on bitcoin's future
and i believe that it should be used as a currency/money rather than an investment.

Why can it not be both? When you buy bitcoin you invest in the technology. As with any currency you can spend or save it. Because bitcoin is decentralized and deflationary the price can fluctuate and some people choose to speculate on this. I say let people do whatever they want with it.

[franky1]

bitcoin is a currency, and like all currencies it can be used for investments and spending.

bitcoin can be stored for future potential growth
bitcoin can be used to buy good and services
bitcoin can be used as markers (bonds/shares) for other things of value
bitcoin can be used to go abroad without carrying any bank notes or credit cards. (just a rucksack of clothes)
bitcoin can be used online and on the street
bitcoin can be used to hold value in places that dont have good banking systems
bitcoin can be used in street markets where secure wireless credit card processing facilities are non-functional/expensive

i think that anyone trying to shorten bitcoin to only have one purpose would reduce its usefulness and desirability.

bitcoin has more uses then people can think of

[Brooker]

i think that anyone trying to shorten bitcoin to only have one purpose would reduce its usefulness and desirability.

bitcoin has more uses then people can think of

The people who are solely using bitcoin this way likely don't really care about bitcoin or the technology behind it and are trying to make a quick buck from it. I agree bitcoin has a multitude of uses and it's full spectrum hasn't even been imagined yet. I just hope it;s full potential is realized by the rest of the world.