Do you know anyone in the REAL WORLD who has bought bitcoin?

[beetcoin]

i got someone i know into bitcoin.. told him about it last week, and he's already talking about buying a mining rig  

Tell him to take all the money he would spend on the rig and just buy coins.  Much better investment.

already told him that, but he has his mind set on mining BTC.. he wants to use the rig at work to mine for the coins, so he doesn't have to pay electricity. i told him to be careful of that.. you could easily lose your job if the employer finds out  

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[StarfishPrime]

I haven't seen a store that takes it, and everyone I talk to thinks it's "risky" (which I don't agree with).

It is incredibly risky. The price of Bitcoin could crash to near zero at any moment and it's far from certain that it would necessarily recover. I think Bitcoins are a pretty good investment (though now is a particularly dangerous time to buy) but to deny that it's very, very risky is madness.

It's only as risky as you want it to be:

1) Accepting bitcoin using BitPay or Coinbase and having dollars deposited to your account: Cost 1%. Risk of loss due to fraud/BTC exchange 0%
2) Accepting credit cards: Cost ~3-5%. Risk of loss due to fraud or chargeback: additional 1-3% (avg, US)
3) Accepting bitcoin for gold bullion with zero confirmations in a dark alley in eastern europe: "very, very risky" 

[bitcoin322]

Granted I live in Ohio, but I've never met a single person who has bought bitcoin. I haven't seen a store that takes it, and everyone I talk to thinks it's "risky" (which I don't agree with). Anyway, I'd love to hear if other people have met anyone in the real world who owns bitcoin (or any alternative currency) and if so, where do you live?

I live in Europe and I personally know 2 people (friends of different nationalities) who have bought BTCs. One of them even got a pretty expensive mining rig and is now reaping some sweet reward!

However, I still have to see a "physical" shop/store accepting it

[kimitsugroup]

I've bought from Coinbase but CB takes a couple days to get in....our Social network site bitofunity.com has a AD section with a specific part for bitcoin buy/sell and other crypto currencies...has anyone heard anything about bitinstant other then they were being sued?

[sushi]

Seems like more and more people are signing up for the exchange to buy BTC.  Businesses are start to accept BTC as just like another credit card by using Bitpay and other payment gateway services and coding on the shopping cart.

Private Taxi and Limo in NYC takes BTC for the fair via smartphone. 

[Lewis2]

I know a couple, all in it for investment opportunity. Really wondering when they will cash out, never really discussed this. Have to try to convince them that using it as a currency might preoduce more long term returns than sitting on it...

[bitcoinpsftp]

I know a couple, all in it for investment opportunity. Really wondering when they will cash out, never really discussed this. Have to try to convince them that using it as a currency might preoduce more long term returns than sitting on it...

Convince me of that.  Sure, people in general need to spend it more to make it go up in value.  But the selfish ones that hold on will make more than the ones who spend.  So in reality, this is a hard thing to convince.  The "Hey... if everyone had that attitude, bitcoin would be worth nothing" is not good enough of an argument to get me to spend.

[Lewis2]

Seems like more and more people are signing up for the exchange to buy BTC.  Businesses are start to accept BTC as just like another credit card by using Bitpay and other payment gateway services and coding on the shopping cart.

Private Taxi and Limo in NYC takes BTC for the fair via smartphone. 

Honest question, would you accept BTC as Taxi driver? It is such an instable currency and accepting it as a pay - on which your livelyhood depends - is  quiet a risk. Exchange rate might have dropped 50% by the time you get home to cash out (or doubled, ofcourse)

[Lewis2]

I know a couple, all in it for investment opportunity. Really wondering when they will cash out, never really discussed this. Have to try to convince them that using it as a currency might preoduce more long term returns than sitting on it...

Convince me of that.  Sure, people in general need to spend it more to make it go up in value.  But the selfish ones that hold on will make more than the ones who spend.  So in reality, this is a hard thing to convince.  The "Hey... if everyone had that attitude, bitcoin would be worth nothing" is not good enough of an argument to get me to spend.

You're absolutely right mate. You're putting your finger on the sore spot, and the flaw of bitcoin at this moment, as long as it is a purely speculative currency its real value is zero, and the bubble has to burst. Maybe we need a scenario like this, where after the crash the value is so low that it is not worth it cashing out, but people will start buying pizza with it.

[beetcoin]

Seems like more and more people are signing up for the exchange to buy BTC.  Businesses are start to accept BTC as just like another credit card by using Bitpay and other payment gateway services and coding on the shopping cart.

Private Taxi and Limo in NYC takes BTC for the fair via smartphone. 

Honest question, would you accept BTC as Taxi driver? It is such an instable currency and accepting it as a pay - on which your livelyhood depends - is  quiet a risk. Exchange rate might have dropped 50% by the time you get home to cash out (or doubled, ofcourse)

simple. hold onto the coins you want, and for anything you would have spent fiat on, convert it from cash to BTC.

[hilariousandco]

I haven't seen a store that takes it, and everyone I talk to thinks it's "risky" (which I don't agree with).

It is incredibly risky. The price of Bitcoin could crash to near zero at any moment and it's far from certain that it would necessarily recover. I think Bitcoins are a pretty good investment (though now is a particularly dangerous time to buy) but to deny that it's very, very risky is madness.

But the opposite is also true. Bitcoin is rising in value daily and could skyrocket any time. The risk may be worth the gamble to them.

[bitcoinpsftp]

Seems like more and more people are signing up for the exchange to buy BTC.  Businesses are start to accept BTC as just like another credit card by using Bitpay and other payment gateway services and coding on the shopping cart.

Private Taxi and Limo in NYC takes BTC for the fair via smartphone. 

Honest question, would you accept BTC as Taxi driver? It is such an instable currency and accepting it as a pay - on which your livelyhood depends - is  quiet a risk. Exchange rate might have dropped 50% by the time you get home to cash out (or doubled, ofcourse)

simple. hold onto the coins you want, and for anything you would have spent fiat on, convert it from cash to BTC.

What beet says.  I think that any job I had, I'd prefer to be paid in bitcoins, given that I had a decently easy way to change it to fiat to pay for my basic needs.  And there are semi decent ways to do this.  Funny thing is though, normal jobs can't pay in bitcoins, because how would that work?  You sign up for a  job, at 4 BTC a month (lets say BTC is 1k a coin when you start).  Next day BTC drops to 200 a coin.  Easy, you quit xD

What if the next day BTC go up to 10k a coin.  I stay and smile, and employer goes bankrupt o_0

[mymym1n3r]

Hey ohiofarmer,

I'm right next door in the fine city of Indianapolis.  Not only to I mine bitcoins but accept bitcoins and litecoins as full payment for any service I conduct. Nearly all my comrades are familiar with bitcoins and I know a few dozen people actively involved with them.

Come over for coffee sometime you are right next door.

~ Leneous

[wumpus]

What beet says.  I think that any job I had, I'd prefer to be paid in bitcoins, given that I had a decently easy way to change it to fiat to pay for my basic needs.  And there are semi decent ways to do this.  Funny thing is though, normal jobs can't pay in bitcoins, because how would that work?  You sign up for a  job, at 4 BTC a month (lets say BTC is 1k a coin when you start).  Next day BTC drops to 200 a coin.  Easy, you quit xD

You could be paid in bitcoin, but the salary number would obviously still be in EUR/USD and you'd get the amount of bitcoins paid according to some conversion rate.

[bitcoinpsftp]

What beet says.  I think that any job I had, I'd prefer to be paid in bitcoins, given that I had a decently easy way to change it to fiat to pay for my basic needs.  And there are semi decent ways to do this.  Funny thing is though, normal jobs can't pay in bitcoins, because how would that work?  You sign up for a  job, at 4 BTC a month (lets say BTC is 1k a coin when you start).  Next day BTC drops to 200 a coin.  Easy, you quit xD

You could be paid in bitcoin, but the salary number would obviously still be in EUR/USD and you'd get the amount of bitcoins paid according to some conversion rate.

If that's the case, i'd prefer to be paid in fiat.  Keep the fiat that I need, the rest spend on bitcoins.  Much easier than trying to change bitcoins into fiat, getting the fiat, putting it into bank, blah blah. 

[Lewis2]

Seems like more and more people are signing up for the exchange to buy BTC.  Businesses are start to accept BTC as just like another credit card by using Bitpay and other payment gateway services and coding on the shopping cart.

Private Taxi and Limo in NYC takes BTC for the fair via smartphone. 

Honest question, would you accept BTC as Taxi driver? It is such an instable currency and accepting it as a pay - on which your livelyhood depends - is  quiet a risk. Exchange rate might have dropped 50% by the time you get home to cash out (or doubled, ofcourse)

simple. hold onto the coins you want, and for anything you would have spent fiat on, convert it from cash to BTC.

What beet says.  I think that any job I had, I'd prefer to be paid in bitcoins, given that I had a decently easy way to change it to fiat to pay for my basic needs.  And there are semi decent ways to do this.  Funny thing is though, normal jobs can't pay in bitcoins, because how would that work?  You sign up for a  job, at 4 BTC a month (lets say BTC is 1k a coin when you start).  Next day BTC drops to 200 a coin.  Easy, you quit xD

What if the next day BTC go up to 10k a coin.  I stay and smile, and employer goes bankrupt o_0

So it doesn't work, either you quit or the employer quits. I'd rather get paid in cash, convert whatever I have left at the end of the month to BTc.

[linuxnewbie]

I'd rather talk it over with my employer. For each pay period, we could agree on a certain amount of fiat and a certain amount of BTC and change the ratio over time depending on the circumstances.

[ohiofarmer]

Hey ohiofarmer,

I'm right next door in the fine city of Indianapolis.  Not only to I mine bitcoins but accept bitcoins and litecoins as full payment for any service I conduct. Nearly all my comrades are familiar with bitcoins and I know a few dozen people actively involved with them.

Come over for coffee sometime you are right next door.

~ Leneous

Awesome. I'll let you know if I'm ever headed that way. I'm impressed so many people are involved with it there... I think there's a Cincy bitcoin meetup, but nothing in Dayton yet. Maybe I should start one!  I'm too busy having fun learning about this stuff, though.

[ohiofarmer]

I know a couple, all in it for investment opportunity. Really wondering when they will cash out, never really discussed this. Have to try to convince them that using it as a currency might preoduce more long term returns than sitting on it...

Convince me of that.  Sure, people in general need to spend it more to make it go up in value.  But the selfish ones that hold on will make more than the ones who spend.  So in reality, this is a hard thing to convince.  The "Hey... if everyone had that attitude, bitcoin would be worth nothing" is not good enough of an argument to get me to spend.

You're absolutely right mate. You're putting your finger on the sore spot, and the flaw of bitcoin at this moment, as long as it is a purely speculative currency its real value is zero, and the bubble has to burst. Maybe we need a scenario like this, where after the crash the value is so low that it is not worth it cashing out, but people will start buying pizza with it.

Very good point... I think I'll start a thread to see if people are actually buying anything with their bitcoin or if they're just holding it as an investment. I've been buying alternative currencies with mine...

[QuestionAuthority]

I know literally hundreds of people that use Bitcoin regularly and have met many of the big names in the community at several of the conventions. I’m from the SF Bay Area though and people are pretty tech savvy and trendy here so maybe that doesn’t count.