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Author Topic: My 10 Satoshi worth.  (Read 1163 times)
MrCrabs
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February 09, 2013, 01:56:21 AM
 #1

So Bitcoin has been going for a while now. I was always hopeful but not too optimistic.
I thought after the big hack it would die out. I bought all my coins between $15-$20
and I still have them. I wish I could trade with them locally in New Zealand. But there
is not a lot going on as far as I can see. And i wonder now if it matters if we trade Bitcoin
at all.

Are we reaching a point where people will just see and accept them as a store of wealth?

If this is so. How do you coax non tech savvy people into putting a little bit into Bitcoin.
There are plenty of places around the world where inflation is out of control.



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Melbustus
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February 09, 2013, 05:55:03 AM
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Are we reaching a point where people will just see and accept them as a store of wealth?



Fundamentally, it's better than gold for that. But people (generally) probably won't consider it such until there's more exchange-rate stability.

The market picked gold (and a couple other PMs) as a store of wealth because those items had the best properties for it. Bitcoin has those same properties, but taken close to their theoretical extreme, *plus* excellent transactional utility. It's better gold with a giant kicker, but it'll probably take decades for the greater market to really select it as such. And on those timescales, technology makes big moves, so bitcoin may not exist as we currently know it by then.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
Cryptoasset rankings and metrics for investors: http://onchainfx.com
chriswilmer
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February 09, 2013, 06:22:33 AM
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I've always been of the opinion that Bitcoin could be very successful even if it was only ever used as a store of wealth.

+1
marcus_of_augustus
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February 09, 2013, 07:21:27 AM
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I wish I could trade with them locally in New Zealand. But there
is not a lot going on as far as I can see.

https://bitnz.com/

https://localbitcoins.com/

Both seem relatively active and growing all the time.

MrCrabs
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February 10, 2013, 09:10:27 AM
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I wish I could trade with them locally in New Zealand. But there
is not a lot going on as far as I can see.

https://bitnz.com/

https://localbitcoins.com/

Both seem relatively active and growing all the time.

When I say trade I mean Buy and sell goods in NZ for BTC.
Who are these bitNZ People.
Can anyone vouch for them.
marcus_of_augustus
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February 10, 2013, 09:37:27 PM
 #6

I wish I could trade with them locally in New Zealand. But there
is not a lot going on as far as I can see.

https://bitnz.com/

https://localbitcoins.com/

Both seem relatively active and growing all the time.

When I say trade I mean Buy and sell goods in NZ for BTC.
Who are these bitNZ People.
Can anyone vouch for them.


Yeah, I suppose it might be a while before you are going to be buying cars, houses, boats with bitcoins in NZ .... though have heard from satisfied customers of bitNZ is about all I can say (risk only as much as you trust them and and build up trust as you go).

franky1
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February 10, 2013, 11:56:38 PM
 #7

the problem with mainstreaming is that there are alot of armchair activists in the community. they like to say what they want to happen, but dont do much themselves to push things forward.

so my response to the OP of this thread is.

get a business bank account. and become a middleman service providor.

start a merchant service such as bitpay or a service where people can pay their utility bills through you.(person A) and then offer your received BTC to the community to refill your fiat reserves.(person B)

find a group of newzealanders that are always in demand for coin that you can form a trusting relationship with. to be your person B for guaranteed returns for large amounts of bitcoin aswell as locals which would buy small amounts of bitcoin ad-hok

it will re-boot the bitcoin eco system in new zealand,  dont complain about lack of services in new zealand. if you see a niche market, fill it.

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
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Lethn
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February 11, 2013, 08:31:13 AM
 #8

Don't coax them, don't even bother talking to them about it, as far as I'm concerned I think we're better off letting the mainstream news do the job for us the more they rant about us and how bad we are and how we're all criminals etc. the more likely we are to get noticed.
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