SR and others & MtGox problems

[bitcodo]

How can SR and other business dependent on BTC work in this situation? Will they just switch to BitStamp? Any of you dependent on BTC-fiat exchange? It doesn't look very business-friendly environment.

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[adamstgBit]

How can SR and other business dependent on BTC work in this situation? Will they just switch to BitStamp? Any of you dependent on BTC-fiat exchange? It doesn't look very business-friendly environment.

maybe they can just switch to bitcoin! and not have to deal with MtGox or BitStamp 

[bitcodo]

[codesuela]

I don't think SR cares, their operational costs are likely minuscule compared to the profits it generates and if was a vendor I wouldn't be using Mt. Gox at all but rather localbitcoins, #bitcoin-otc or another bitcoin to cash service.

The people who sell legal goods are screwed but they have been between a rock and a hard place for a long time with the wild price fluctuations and all. Accepting Bitpay who instantly convert your coins to USD seems like the only viable option. Bitpay probably has accounts across all major exchanges (Bitstamp, Gox, Tradehill, Campbx) and maybe private partners who are willing to take the coins of their hands.

[Ploo]

I don't think the SR operators or vendors put their proceeds through mtgox or bitstamp. When they're forced to get ahold of fiat they'll use something a little more suitable to the task - cash, perhaps.

[bitcodo]

So for now it should be person to person transactions (BTC to fiat and vice versa), but how about volume and liquidity? In few years we would not have any fiat (just BTC), so this would not be a problem. 

We should have business-friendly environment, not hostile one.

It is easier for me to exchange
mushrooms

for biodisel directly,

as to use bitcoin as intermediate.

Or bitcoin is not realy a mean to trade. No real economy. Just speculation.

[rampantparanoia]

So for now it should be person to person transactions (BTC to fiat and vice versa), but how about volume and liquidity? In few years we would not have any fiat (just BTC), so this would not be a problem.  

We should have business-friendly environment, not hostile one.

It is easier for me to exchange
mushrooms

for biodisel directly,

as to use bitcoin as intermediate.

Or bitcoin is not realy a mean to trade. No real economy. Just speculation.

flawed. what if i only want 1 mushroom and you want 40 gallons of biodiesel? what if, for that 40 gallons, you would really need to give me 5 mushrooms? i don't want the extra 4 shrooms.


also... for my uneducated ass, can you please define what SR is?

[bitcodo]

SilkRoad

You're talking about theory. I speak from experience.

And this is my point - people prefer to trade with a concrete thing and not with virtual coin on your computer.
But of course I agree that at the end it is easier with an intermediary - money - currency.

[Impaler]

flawed. what if i only want 1 mushroom and you want 40 gallons of biodiesel? what if, for that 40 gallons, you would really need to give me 5 mushrooms? i don't want the extra 4 shrooms.


also... for my uneducated ass, can you please define what SR is?

Actually with the recent invention of the knife Mushrooms are now be divided to several decimal places.

[rampantparanoia]

flawed. what if i only want 1 mushroom and you want 40 gallons of biodiesel? what if, for that 40 gallons, you would really need to give me 5 mushrooms? i don't want the extra 4 shrooms.


also... for my uneducated ass, can you please define what SR is?

Actually with the recent invention of the knife Mushrooms are now be divided to several decimal places.

Lmao +1