I am fucking panicking

[SOSLOVE868]

Hey you misunderstood what I wrote! I mean that an alt+anonymity will be the new guy in town making BTC obsolete, because I THINK that black market is the main driving force behind cryptos economy...

But I could be wrong...

Black market goods are the ONLY reason why someone would go through the hassle of getting bitcoin beside getting them for speculative/investment purposes.

EDIT: At least today.

 it also can be use as a method of storing value, since lot of people are suffering in incapable of the local currency.

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[lucas.sev]

Hey you misunderstood what I wrote! I mean that an alt+anonymity will be the new guy in town making BTC obsolete, because I THINK that black market is the main driving force behind cryptos economy...

But I could be wrong...

Black market goods are the ONLY reason why someone would go through the hassle of getting bitcoin beside getting them for speculative/investment purposes.

EDIT: At least today.

 it also can be use as a method of storing value, since lot of people are suffering in incapable of the local currency.

store of value = investment

[BitPirate]

Black market goods are the ONLY reason why someone would go through the hassle of getting bitcoin beside getting them for speculative/investment purposes.

You can keep saying this.. and you can keep using authoritative capital letters.

But that doesn't make it true.

The world is big and there are many reasons to acquire BTC. Furthermore, it isn't necessarily much of a hassle.

[niko]

I am seriously considering getting out of this game. Give some strength bros!

EDIT: I sold some of my Bitcoins but I will still hold fairly good amount of BTC for the longest time.

Wait what?!

[hate_the_face]

The world is big and there are many reasons to acquire BTC.

such as?

Furthermore, it isn't necessarily much of a hassle.

Depends on how much time you have on your hands

[MAbtc]

The world is big and there are many reasons to acquire BTC.

such as?

This. lucas.sev is spot on IMO, but maybe you have something interesting to say besides the "bitcoin revolution" cult drivel?

[BTCThousandaire]

The world is big and there are many reasons to acquire BTC.

such as?

This. lucas.sev is spot on IMO, but maybe you have something interesting to say besides the "bitcoin revolution" cult drivel?

In New York you can do everything with Bitcoin: travel by limousine, buy pizza at panago, go the the bar, get a good lawyer, and live at a hotel.

[BitPirate]

The world is big and there are many reasons to acquire BTC.

such as?

Furthermore, it isn't necessarily much of a hassle.

Depends on how much time you have on your hands

We have quite a lot of people here who want to buy VPNs/VPSes. Or domain names. That's just for starters.

Buying is easy, takes 10 minutes with AliPay here.

[hate_the_face]

The world is big and there are many reasons to acquire BTC.

such as?

This. lucas.sev is spot on IMO, but maybe you have something interesting to say besides the "bitcoin revolution" cult drivel?

In New York you can do everything with Bitcoin: travel by limousine, buy pizza at panago, go the the bar, get a good lawyer, and live at a hotel.

All things you can do far easier with fiat currency

how the hell do you tip someone with bitcoin? and how do you even buy anything in person with them? Do you have to wait 60 minutes next to the POS system?

Seems like an awful lot of things required to accomplish the same fucking results

[BTCThousandaire]

The world is big and there are many reasons to acquire BTC.

such as?

This. lucas.sev is spot on IMO, but maybe you have something interesting to say besides the "bitcoin revolution" cult drivel?

In New York you can do everything with Bitcoin: travel by limousine, buy pizza at panago, go the the bar, get a good lawyer, and live at a hotel.

All things you can do far easier with fiat currency

how the hell do you tip someone with bitcoin? and how do you even buy anything in person with them? Do you have to wait 60 minutes next to the POS system?

Seems like an awful lot of things required to accomplish the same fucking results

Offline transactions are still improving, but on-line is where Bitcoin really works best. It's not really any harder than funding paypal or secondlife and all the other funding methods there are out there.

[desired_username]

The world is big and there are many reasons to acquire BTC.

such as?

Furthermore, it isn't necessarily much of a hassle.

Depends on how much time you have on your hands

Let me answer this, though I understand that it's a futile attempt.

I do shop with btc, mine, buy and sell bitcoins.

I got my finances with my family/friends fully in bitcoin now. It made me hate all my other "payment" options especially online banking.

Having paypal hold my money for 6 months is also an other reason.

If you don't appreciate this:

"A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution"

then why are you here? ;-)

Having said all this, I think it's an infant / evolving project so it's understandable if it's not for everyone at the moment.

[hate_the_face]

Let me answer this, though I understand that it's a futile attempt.
I do shop with btc, mine, buy and sell bitcoins.
I got my finances with my family/friends fully in bitcoin now. It made me hate all my other "payment" options especially online banking.

so if the bitcoin economy crashes who are you going to plead for help to? The service providers? What form of law code will hold them accountable for failing to uphold their debts? Thanks for the chuckle. The fact you put all your assets into one form of currency is laughable by itself but to then follow it by referencing this quote as some form of validation:

If you don't appreciate this:
"A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution"

then why are you here? ;-)

makes me question why YOU are here.

News Flash: Bitcoin is already being run by financial institutions, they just have no accountability to their customers.

Banks may be somewhat irritable to deal with at times, but if a FDIC approved bank fails to uphold it's responsibilities to its customers there is legal action that can be taken.

the government is not something we as crypto fans should strive to one-up, it is just something we should find ways to avoid.

Allowing Bitcoin to enter everyday society and thusly Wall Street is hardly avoiding that, and it's not like there has been blatantly obvious corruption going on in Wall Street at any point in history ever throughout its existence...

[desired_username]

Let me answer this, though I understand that it's a futile attempt.
I do shop with btc, mine, buy and sell bitcoins.
I got my finances with my family/friends fully in bitcoin now. It made me hate all my other "payment" options especially online banking.

so if the bitcoin economy crashes who are you going to plead for help to? The service providers? What form of law code will hold them accountable for failing to uphold their debts? Thanks for the chuckle. The fact you put all your assets into one form of currency is laughable by itself but to then follow it by referencing this quote as some form of validation:

If you don't appreciate this:
"A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution"

then why are you here? ;-)

makes me question why YOU are here.

News Flash: Bitcoin is already being run by financial institutions, they just have no accountability to their customers.

Banks may be somewhat irritable to deal with at times, but if a FDIC approved bank fails to uphold it's responsibilities to its customers there is legal action that can be taken.

the government is not something we as crypto fans should strive to one-up, it is just something we should find ways to avoid.

Allowing Bitcoin to enter everyday society and thusly Wall Street is hardly avoiding that, and it's not like there has been blatantly obvious corruption going on in Wall Street at any point in history ever throughout its existence...

I don't like feeding the trolls, but anyways I'm bored this morning

I do not put alll my wealth into 1 asset I'm not sure where you got that from.

Having false illusions of security towards traditional currencies (or other assets for that matter) are idiotic. I know it's different for each country but I have seen examples of what a corrupt government can do with centralized assets. Don't kid yourself that you're safe. ;-)

Having insurances on your bank account does not come for free. All the clients of the actual bank pay their part for the possibility of a bailout, if fraud happens.

As for the bitcoin world, everyone has different risk tolerance. I had only gains from bitcoin so far and I "lived" through the 2 huge panic sells (I didn't risk more than I can afford to lose though, so I wasn't all that fussed)

Trading can and should be regulated, as for the bitcoin protocol itself, it cannot be controlled or taken over. It seems you forgot about the utility aspect for the pure reason that you, personally don't have one for it.

I would also add, that I'm totally aware that if there's a fundamental flaw in the protocol then the value of bitcoin would go to 0. What would I do If I default on my bitcoin holdings? It wouldn't affect me much, purely because of diversification.

[hate_the_face]

I don't like feeding the trolls, but anyways I'm bored this morning

I do not put alll my wealth into 1 asset I'm not sure where you got that from.

uhh, the third line of your post?

Having false illusions of security towards traditional currencies (or other assets for that matter) are idiotic. I know it's different for each country but I have seen examples of what a corrupt government can do with centralized assets. Don't kid yourself that you're safe. ;-)

Bitcoin is not decentralized, don't kid yourself

Trading can and should be regulated, as for the bitcoin protocol itself, it cannot be controlled or taken over. It seems you forgot about the utility aspect for the pure reason that you, personally don't have one for it.

Regulated by who? And I do find uses for cryptocurrencies, I just accept and understand the fact that I will never be paying my rent with it

[MAbtc]

It seems you forgot about the utility aspect for the pure reason that you, personally don't have one for it.

The thing is, I can find lots of things to do with bitcoins. But in virtually all cases, it is much faster, convenient and liquid to use dollars. None of the bitcoin revolutionists here have explained -- what can you do with bitcoin that you can't do more easily with fiat?

You can store value / invest. And you can buy drugs in mail.

What else?

[desired_username]

uhh, the third line of your post?

Having false illusions of security towards traditional currencies (or other assets for that matter) are idiotic. I know it's different for each country but I have seen examples of what a corrupt government can do with centralized assets. Don't kid yourself that you're safe. ;-)

Bitcoin is not decentralized, don't kid yourself

Trading can and should be regulated, as for the bitcoin protocol itself, it cannot be controlled or taken over. It seems you forgot about the utility aspect for the pure reason that you, personally don't have one for it.

Regulated by who? And I do find uses for cryptocurrencies, I just accept and understand the fact that I will never be paying my rent with it

That line is: "I got my finances with my family/friends fully in bitcoin now." That means that I do the petty transactions among my friends and family in bitcoin. that's all. It doesn't mean that I have everything in bitcoin.

I can't seem to understand your stance on decentralization. On what level do you think it's centralized?

[hate_the_face]

The thing is, I can find lots of things to do with bitcoins. But in virtually all cases, it is much faster, convenient and liquid to use dollars. None of the bitcoin revolutionists here have explained -- what can you do with bitcoin that you can't do more easily with fiat?

You can store value / invest. And you can buy overpriced drugs in mail.

What else?

@desired username

let's pretend I am completely new to bitcoins, never even heard of them before you told me about them. I ask you how I can acquire said coins

What would be your response?

[desired_username]

It seems you forgot about the utility aspect for the pure reason that you, personally don't have one for it.

The thing is, I can find lots of things to do with bitcoins. But in virtually all cases, it is much faster, convenient and liquid to use dollars. None of the bitcoin revolutionists here have explained -- what can you do with bitcoin that you can't do more easily with fiat?

You can store value / invest. And you can buy drugs in mail.

What else?

I find shopping with BTC a lot more convenient. I don't need to give away the necessary details for charging my account. By the nature of my work, I travel awfully lot. I got sting by card fraud many times which is quite annoying.

I can do international transfers very quickly and without horrendous wait times and fees. I can buy desired things which are not sold in my country (electronics, domains and many more).

As I said it previously, the usefulness of BTC is highly dependent on personal circumstances and geolocation.

Saying that it won't be mainstream is ignorant in my opinion. maybe it will maybe it won't. time will tell.

[psybits]

It is a common myth that BTC is for black market purposes only.

This article shows that most Bitcoin users do not even take drugs (I am in this demoagraphic): http://www.zerohedge.com/news/2013-03-10/demographics-bitcoin

Many people, including me, are captivated more by the technological aspects of the currency, and how different it is to anything which has come before, more than the black market aspect (myself included).

It is as revolutionary as the invention of the Internet itself, and is the first P2P currency to EVER be created.

Only those with small minds only focus on the black market aspect.

A cursory google news search for BItcoin will reveal much activity from angel investors and legitimate companies doing things which have never been done before.

Stop spreading this trash talk.

[hate_the_face]

I find shopping with BTC a lot more convenient. I don't need to give away the necessary details for charging my account. By the nature of my work, I travel awfully lot. I got sting by card fraud many times which is quite annoying.

I can do international transfers very quickly and without horrendous wait times and fees. I can buy desired things which are not sold in my country (electronics, domains and many more).

And I'm glad it works for you, believe me I am not trying to disparage what Bitcoins did for this field as a whole. I just am pointing out the fact that

As I said it previously, the usefulness of BTC is highly dependent on personal circumstances and geolocation.

Should be a good indicator of how this speculation

Saying that it won't be mainstream is ignorant in my opinion. maybe it will maybe it won't. time will tell.

is going to play out

I am fully supportive of any cryptocurrency that is willing to work with the supporters who make it possible. Bitcoin turned its back a long time ago

It is a common myth that BTC is for black market purposes only.

This article shows that most Bitcoin users do not even take drugs (I am in this demoagraphic): http://www.zerohedge.com/news/2013-03-10/demographics-bitcoin

Many people, including me, are captivated more by the technological aspects of the currency, and how different it is to anything which has come before, more than the black market aspect (myself included).

It is as revolutionary as the invention of the Internet itself, and is the first P2P currency to EVER be created.

Only those with small minds only focus on the black market aspect.

A cursory google news search for BItcoin will reveal much activity from angel investors and legitimate companies doing things which have never been done before.

Stop spreading this trash talk.

the average person using bitcoins to buy drugs isn't going to be filling out some shitty survey especially via a fucking google doc link. Only those with small minds IGNORE the black market aspect