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Author Topic: The Bitcoin Establishment Plan: How to talk about Bitcoins properly  (Read 5863 times)
tubro
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June 27, 2011, 04:01:57 PM
 #21

I used to think like that. Now I am not so sure. Consider gold: You can't really buy groceries with it, and everybody I know has already heard of it. Still: Look ma, no crash.

Don't get me wrong. It is certainly helpful and a great opportunity to use bitcoin in as many markets as possible. But I don't think we'll all go to hell if we don't regularly spend our coins on carrots. Some of us might just collect them and buy a house with them one day. And that's OK.
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Rob P.
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June 27, 2011, 04:18:53 PM
 #22

I used to think like that. Now I am not so sure. Consider gold: You can't really buy groceries with it, and everybody I know has already heard of it.

FWIW, I guarantee I can buy groceries with Gold.

Maybe not at a super-chain, but most definitely at a corner grocery store, where the owner actually waits on customers.  I'll probably pay a premium for those groceries too, as he/she will charge me a "fee" for taking an "alternative currency", but maybe not.

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June 27, 2011, 04:33:02 PM
 #23

I used to think like that. Now I am not so sure. Consider gold: You can't really buy groceries with it, and everybody I know has already heard of it.

FWIW, I guarantee I can buy groceries with Gold.

Maybe not at a super-chain, but most definitely at a corner grocery store, where the owner actually waits on customers.  I'll probably pay a premium for those groceries too, as he/she will charge me a "fee" for taking an "alternative currency", but maybe not.

Every once in a while someone makes a video where they go to a fast food place, grocery store, etc. and try to buy $20 worth of groceries with a $20 gold piece, and are laughed out of the store.  Once you understand why gold is valuable, you recognize the value - But if you're talking to a mis-educated grocery store clerk who has never touched a gold coin, much less knows how to value it relative to the current economic paradigm, it doesn't go so hot.

Perspective is important.

And as an aside, look like you can eat bitcoins
http://www.bitcoinclassifieds.net/Food/

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TraderTimm
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June 27, 2011, 04:39:51 PM
 #24

One of my favorites is a guy who tried to GIVE AWAY a gold coin on a boardwalk. He was in a pretty affluent area, and not one person took him up on his offer. He also goes into a local coin dealer who authenticates the coin and says it is worth market value.

Priceless.

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June 27, 2011, 04:41:39 PM
 #25

I used to think like that. Now I am not so sure. Consider gold: You can't really buy groceries with it, and everybody I know has already heard of it.

FWIW, I guarantee I can buy groceries with Gold.

Maybe not at a super-chain, but most definitely at a corner grocery store, where the owner actually waits on customers.  I'll probably pay a premium for those groceries too, as he/she will charge me a "fee" for taking an "alternative currency", but maybe not.

Every once in a while someone makes a video where they go to a fast food place, grocery store, etc. and try to buy $20 worth of groceries with a $20 gold piece, and are laughed out of the store. 

Hence the reason I stated, "where the owner actually waits on customers".  Some high-school kid making $7/hour isn't going to take a form of currency that isn't a US Dollar.  They wouldn't take valid foreign currencies, not to mention something like precious metals.

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June 27, 2011, 04:47:40 PM
 #26

But isn't that only true because the person you'll be speaking to in that circumstance has a vested interest in making themselves the best deal possible?  With a good white sheet intended to explain the concept and advantages cleanly and simply, you could make exactly the same arguement for bitcoin acceptance, right down to the premium for better service

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Rob P.
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June 27, 2011, 04:55:20 PM
 #27

But isn't that only true because the person you'll be speaking to in that circumstance has a vested interest in making themselves the best deal possible?  With a good white sheet intended to explain the concept and advantages cleanly and simply, you could make exactly the same arguement for bitcoin acceptance, right down to the premium for better service

I'm not arguing with you.  I do just that.  The poster I quoted however made the statement you couldn't buy groceries with Gold, I disagree with that statement as I most certainly could.

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June 27, 2011, 05:17:57 PM
 #28

Then I'll stop arguing with you Smiley

Ok, i'll argue with you a little more - The OP is thinking "meta" when we're still at the very early stages of adoption - The person-to-person sort of education, as opposed to mass market reality.

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HappyFunnyFoo
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June 27, 2011, 05:52:37 PM
 #29

If bitcoin gets popular, the blockchain will be several terrabytes in length... gg
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June 27, 2011, 11:26:08 PM
 #30

If bitcoin gets popular, the blockchain will be several terrabytes in length... gg
The blockchain is only needed as the ultimate backing store. Most transactions can bypass the blockchain if the blockchain becomes a limiting factor. Think of the blockchain as inter-bank transfers.

I am an employee of Ripple. Follow me on Twitter @JoelKatz
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Rocketfella
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June 29, 2011, 10:54:07 AM
 #31

Maybe you'll end up having your block chain on your personal server / NAS and all your devices just connect to that to verify their transactions. For people who don't have their own servers, there will be public ones from trusted authorities like the CCC or the several PirateParties.

Check out my other articles on the forum:
"The Bitcoin Establishment Plan: How to talk about Bitcoins properly"
http://bit.ly/k6LRkM
"Solution: How to shift the decimal"
http://bit.ly/m0N0H4
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