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Author Topic: End of BitCoin Exchangers  (Read 2693 times)
blueberry
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April 18, 2013, 03:04:49 PM
 #21

Bitcoin will be still used even without banks. A lot of people who buy drugs on SR pay cash for bitcoins, no bank involved. Or a migrant worker wanting to send money home can exchange cash for bitcoins and send those bitcoins home avoiding WU fees or slow bank transfers.

So no, bitcoins will not be worth $0.00 in the highly unlikely event that all banks accounts of all exchanges were to be closed at the same time. New exchanges will pop up (perhaps in offshore locations) to fill the void. You'd also still have other options such as Liberty Reserve, OK Pay, Linden Dollars etc to exchange your coins as well as local bitcoins.

So edit your OP and quit the BS already.
It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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lucif
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April 18, 2013, 03:19:34 PM
 #22

Or a migrant worker wanting to send money home can exchange cash for bitcoins and send those bitcoins home avoiding WU fees or slow bank transfers.
lolwhat? how much money he will loose if bitcoin drops 10% a day (typical behavior). Will it be less than WU fees?
BitcoinAshley
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April 18, 2013, 03:58:56 PM
 #23

Lol, yes, this is probably THE stupidest thread I've seen on here.

Denying reality like a classic troll.

Yes, there are problems with exchanges. But exchanges are popping up left and right, many exchanges have great relationships with banks. In addition, the OTC market is thriving. It will not be long before coin shops start dealing in BTC, and there are at least 6 individual BTC brokers in my region at the moment and steadily rising ;-)

FUD FUD FUD. You can FUD all you like but that doesn't make your tunnel vision the truth.

Yes, there are problems with exchanges. But the majority of exchanges continue to operate smoothly, there are even more options than there were a month ago, there is Tradehill and Exante for big boys and then there is OTC for ANYONE who wants to avoid exchanges.

People who think banks crushing an exchange here and there will crush BTC are lying to themselves, operating in a paranoid troll world of delusion and fantasy.

Last time I checked, marijuana prices were high and going even higher (the 'shrink ray of inflation' was hitting gram bags when I was in college). What's more, it's STABLE. The average price per ounce has risen significantly but steadily since the 60's, and a gram isn't $10 one day and $20 the next. There is no "marijuana bubble." This is a multi-billion dollar industry. Perhaps we'll see this when BTC reaches $20/mBTC Grin. There is no official bank-sanctioned exchange for marijuana, heck, nearly all of the trade happens OTC in cash, and a SIGNIFICANT portion of the American public uses or has used marijuana, from 12 year old kids to 60 year old adults. And marijuana isn't even useful for anything except getting stoned off your ass! BTC at least has utility - transmission, flipping, mixing storing, putting, calling, sending, receiving, buying, selling, storing, deflating, trading, coloring, betting, hoarding, spending - and you're telling me that banks could crush its price because they fuxx0red a few exchanges, when at this point there are exchanges popping up every week?

BIG, RESOUNDING LOL. Good luck with the FUD, though.
bootlace
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April 18, 2013, 04:38:32 PM
 #24

Quote
Lol, yes, this is probably THE stupidest thread I've seen on here.


Really, out of the hundreds of thousands of moronic threads on this god-forsaken subforum, you think THIS one is the stupidest?

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Denying reality like a classic troll.

The reality is Bitcoin exchanges are dropping like flies and having problems every other day, who's the one denying reality.

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Yes, there are problems with exchanges.


Aha, so the OP does have a point, thanks for admitting.

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But exchanges are popping up left and right, many exchanges have great relationships with banks.

We don't need a bunch of new exchanges if they're going to be noobs like the ones before it and create further mess.

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In addition, the OTC market is thriving.

Yea good luck getting the mass population to adopt that..

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It will not be long before coin shops start dealing in BTC, and there are at least 6 individual BTC brokers in my region at the moment and steadily rising ;-)

The critical mass care about coins almost as little as they care about Bitcoin at the moment.

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FUD FUD FUD. You can FUD all you like but that doesn't make your tunnel vision the truth.

Obviously you're brain is going into retard mode here, won't comment further.

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Yes, there are problems with exchanges.

What happened it to be "FUD", changed your mind so quick.

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But the majority of exchanges continue to operate smoothly,

Majority are not operating smoothly, there's actually 0 that are operating 'smoothly' at this moment.

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there are even more options than there were a month ago, there is Tradehill and Exante for big boys and then there is OTC for ANYONE who wants to avoid exchanges.

So my option is either to be a 'big boy' and invest shit loads or I have to use the highly suspect OTC market?

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People who think banks crushing an exchange here and there will crush BTC are lying to themselves, operating in a paranoid troll world of delusion and fantasy.

OP himself says "BTC will probably be around for a LONG time to come simple cause it can't be shut down", so you're probably fighting off demons in your head again instead of having a reasonable discussion.


Quote
Last time I checked, marijuana prices were high and going even higher (the 'shrink ray of inflation' was hitting gram bags when I was in college). What's more, it's STABLE. The average price per ounce has risen significantly but steadily since the 60's, and a gram isn't $10 one day and $20 the next. There is no "marijuana bubble." This is a multi-billion dollar industry. Perhaps we'll see this when BTC reaches $20/mBTC Grin. There is no official bank-sanctioned exchange for marijuana, heck, nearly all of the trade happens OTC in cash, and a SIGNIFICANT portion of the American public uses or has used marijuana, from 12 year old kids to 60 year old adults. And marijuana isn't even useful for anything except getting stoned off your ass! BTC at least has utility - transmission, flipping, mixing storing, putting, calling, sending, receiving, buying, selling, storing, deflating, trading, coloring, betting, hoarding, spending -


Wow, wtf did I just read...

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and you're telling me that banks could crush its price because they fuxx0red a few exchanges, when at this point there are exchanges popping up every week?

Yes banks could crush its price, because the price is based on its fiat value, and if people can't exchange it for fiat then the price will go down.

Quote
BIG, RESOUNDING LOL. Good luck with the FUD, though.


Try to keep the rage on the down low, makes you sound like an idiot.

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antimattercrusader
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April 18, 2013, 04:47:09 PM
 #25

Well, I don't have time for a point by point but I place my bets on a solution cropping up soon. It's a resilient market and community. We will soon see decenterlized exchanges as well as some banks getting involved. If one doesn't, I'll start one... or a credit union. Seriously, I'm looking into what it'd take. If I am doing that, alot of people smarter than I are probably doing the same around the world as well.

These petty attempts will not kill bitcoin, it will only strengthen bitcoin by granting legitimacy (highlighting the fact that we have a real problem with our current system) and by making it resilient to such attack in the future.

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michaelGedi
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April 18, 2013, 10:34:03 PM
 #26

plenty of ways to buy bitcoins without using banks...

very simple and I'm not going to list them


that's it really...


OP is spreading doom on purpose, he's done it since the crash

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