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Author Topic: Want to save Bitcoin? Here's how YOU can help.  (Read 2700 times)
doldgigger
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August 07, 2011, 07:48:28 PM
 #21

Lol, "save" bitcoin.  And how do you figure bitcoin needs "saving"?
If we extend the term "bitcoin" beyond the software to include all the discussions about it, then yes, it needs saving right now because of all the emotional talks about some mysterious "crash" on the forums lately. It can be easily helped by introducing a no-whining policy at the forums, though.

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btcvc
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August 07, 2011, 08:02:40 PM
 #22

There are many unique aspects to Bitcoin. For a few months, it was exposed to a quickly. growing audience and, consequently, grew in value, which in turn made it attractive to investors, who inflated the value even more. It now appears that many speculators are getting out. Those of us still willng to use bitcoins as currency are trading it for goods and services, and I, for one, only trade it for USD when necessary. As more and more merchants join the movement, I expect this necessity to diminish.

BitBrew is doing its part to stabilze the BTC economy by keeping prices static, come hell or high water.

If you trade

Says the guy selling a $20USD cup of coffee. Through the internet. Like it or not, you have to deal with the fact that BTC can be traded for other currencies.

Bitcoin Venture Capital
http://www.btcvc.com/

We help match early adopters with potential BTC startups.
Come by and check our list of potential startups today!
edd
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August 07, 2011, 08:05:24 PM
 #23

There are many unique aspects to Bitcoin. For a few months, it was exposed to a quickly. growing audience and, consequently, grew in value, which in turn made it attractive to investors, who inflated the value even more. It now appears that many speculators are getting out. Those of us still willng to use bitcoins as currency are trading it for goods and services, and I, for one, only trade it for USD when necessary. As more and more merchants join the movement, I expect this necessity to diminish.

BitBrew is doing its part to stabilze the BTC economy by keeping prices static, come hell or high water.

If you trade

Says the guy selling a $20USD cup of coffee. Through the internet. Like it or not, you have to deal with the fact that BTC can be traded for other currencies.

Sorry, but I don't understand any part of your reply.

Still around.
malbritten
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August 07, 2011, 08:08:33 PM
 #24

There are many unique aspects to Bitcoin. For a few months, it was exposed to a quickly. growing audience and, consequently, grew in value, which in turn made it attractive to investors, who inflated the value even more. It now appears that many speculators are getting out. Those of us still willng to use bitcoins as currency are trading it for goods and services, and I, for one, only trade it for USD when necessary. As more and more merchants join the movement, I expect this necessity to diminish.

BitBrew is doing its part to stabilze the BTC economy by keeping prices static, come hell or high water.

If you trade

Says the guy selling a $20USD cup of coffee. Through the internet. Like it or not, you have to deal with the fact that BTC can be traded for other currencies.

Sorry, but I don't understand any part of your reply.

I think he's trying to say that you said that BTC shouldn't be allowed to be converted into other currencies and he pointed out your coffee pricing for...some reason.  Anyways, you obviously weren't saying that and he was just using a straw man against you.

Anyways, I agree with you edd. All these people who worry about BTC's USD value and complain when they can buy a product cheaper with USD than with BTC are doing nothing to help to economy.  People who SELL products with BTC and not just hoard them so they can cash out some day are the real BTC heroes.

Help me fulfill the BTC pledge! Donate to: 17VBgC5q7SfytSpsKLU4x6gf9MpjhzaZKn
edd
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August 07, 2011, 08:22:04 PM
 #25

There are many unique aspects to Bitcoin. For a few months, it was exposed to a quickly. growing audience and, consequently, grew in value, which in turn made it attractive to investors, who inflated the value even more. It now appears that many speculators are getting out. Those of us still willng to use bitcoins as currency are trading it for goods and services, and I, for one, only trade it for USD when necessary. As more and more merchants join the movement, I expect this necessity to diminish.

BitBrew is doing its part to stabilze the BTC economy by keeping prices static, come hell or high water.

If you trade

Says the guy selling a $20USD cup of coffee. Through the internet. Like it or not, you have to deal with the fact that BTC can be traded for other currencies.

Sorry, but I don't understand any part of your reply.

I think he's trying to say that you said that BTC shouldn't be allowed to be converted into other currencies and he pointed out your coffee pricing for...some reason.  Anyways, you obviously weren't saying that and he was just using a straw man against you.

Anyways, I agree with you edd. All these people who worry about BTC's USD value and complain when they can buy a product cheaper with USD than with BTC are doing nothing to help to economy.  People who SELL products with BTC and not just hoard them so they can cash out some day are the real BTC heroes.

Yes, it does make a little more sense if I had said something completely different.  Tongue

Just to clarify: I sell premium organic and fair trade coffee, mostly in 8 ounce and 12 ounce packages. Anyone interested can do a little research and see that, even at an exchange rate of 1 BTC = $20, my prices are much more affordable than anything else out there. That is how I'm encouraging participation in the bitcoin economy.

Still around.
makomk
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August 10, 2011, 08:37:55 AM
 #26

You're still treating this as some sort of investment or get-rich scheme.  The OP is suggesting that we concentrate on its use as a medium of exchange.  If you accept Bitcoin in exchange for a product or service, and those coins can be traded for other things you need/want, how does this disadvantage you?  Granted, some of the early adopters have done well financially, but please offer us some constructive suggestions on how to bootstrap a decentralized, peer-to-peer currency where this problem is avoided.
If you accept Bitcoin in exchange for a product or service, the same argument applies - you have to offer actual goods and services, whereas the early adopters can obtain your goods and services without having to actually contribute anything productive to the economy themselves. (There's also the issue that if you sell for Bitcoins, you're the one that takes on the risk of the exchange rate collapsing due to early adopters selling their holdings and making it impossible for you to cover costs that are in USD or your local currency - and you will have costs that can only be paid in your local currency.)

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wumpus
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August 10, 2011, 08:47:00 AM
 #27

If you accept Bitcoin in exchange for a product or service, the same argument applies - you have to offer actual goods and services, whereas the early adopters can obtain your goods and services without having to actually contribute anything productive to the economy themselves.
It's not so simple!

The jury is still out whether speculators contribute anything "productive to the economy". In Wall Street, a lot of people get rich with speculation, much richer than any bitcoin person, and economists heavily disagree on whether this is a good or bad thing...

Bitcoin needed the early investors and miners to get where it is now.

Quote
(There's also the issue that if you sell for Bitcoins, you're the one that takes on the risk of the exchange rate collapsing due to early adopters selling their holdings and making it impossible for you to cover costs that are in USD or your local currency - and you will have costs that can only be paid in your local currency.)
Well, that's always true. If you are afraid of collapse of some currency, the safest is to sell it immediately after a deal. In the case of Bitcoin, there are even payment services that do this for you. By keeping the coins you have upside as well as downside risk.


Bitcoin Core developer [PGP] Warning: For most, coin loss is a larger risk than coin theft. A disk can die any time. Regularly back up your wallet through FileBackup Wallet to an external storage or the (encrypted!) cloud. Use a separate offline wallet for storing larger amounts.
Phinnaeus Gage
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August 10, 2011, 10:30:12 AM
 #28

Currently doing some Python hacking for BTC, and since the price drop I'm probably working for 10% of my usual rate. However, I'm having fun doing it; it's the kind of thing I'd usually do in my spare time for free, so I'm not losing out.

I encourage other developers to do the same with small projects, I'm certainly enjoying it Smiley

Some of my fellow cohorts and I were kicking around the possibility of opening a poker room in Seattle that would offer to payout in Bitcoins.

As long as there's no cash in the cage (where the chips are stored) and very little personal cash is on each person, you'll be able to technically play on the Capital (like the ring to that?) lawn without fear of breaking any gambling laws--although trespassing may get you life. This would work in every state. Every bar in America can now have poker tables set up in the open without fear of being raided. Any minor details I may have missed with this idea, could easily be iron out. I think I already know the first curve ball that's going to be thrown at this idea, so I'll opt to wait for it--then hit it out of the park.
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