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Author Topic: I started spending my bitcoins ;)  (Read 1405 times)
mackminer
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September 19, 2011, 12:27:16 PM
 #1

Hi,
Just thought I'd write here to say that I have sent two bitcoins to a relative via bitmail asking her to spread the word.
I also spent about 3 or 4 coins on a website to buy bitcoin fridge magnets and vinyl stickers. I'm going to put the sticker in my mining room. One of the fridge magnets is for me and the other one will go on the work fridge. There are 70 people working in my office.

I may very very attach an article on what it is aswell. Give people something interesting to talk about over break. I'll make sure the article includes info the hideous charges the credit card companies are getting away with.

Anyway the most important thing for me is that I have put some currency into the economy which is required if it's to grow. Even if you want to hoard because you believe the value will go up over time I'm not sure that will happen unless the economy grows. It's in your interest to put a percentage of your coins to help it grow.

Also, I would have spent my bitcoins earlier but I have only started mining in July and just have myself more organised now. I was up the walls for the last two months getting everything configured.

Wink

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Xenland
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September 19, 2011, 12:57:14 PM
 #2

Well if anybody else agrees with the OP's post like I do,

You can't have value with out spending!
Head on over to www.CheaperInBitcoins.com and start adding value to Bitcoins!

I have access to over 1,000,000 products the only reason why i have no added all of them is becuase of time, and researching the products that people want takes lots of time.
Cut down this time in half but suggesting products that you'd like to purchase. Chances are if you want it i probubly have it! (Sorry no 6990's tho....)
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September 19, 2011, 01:01:21 PM
 #3

For me the dilemma between saving and spending is mostly not related to the expectation of a higher price in the future. The most important factor is where can I spend coins and what can I buy with them. I live a fairly minimalistic lifestyle and don't really need that much. I'll spend coins when I find something useful to spend them on.

I do understand that people spend coins simply because it's fun to try and buy something with coins for the first time. I don't do that because I generally don't buy anything unless I really need it.

However I'm a Bitcoin-enthusiast and I think that the options for buying stuff, goods or services, will become ever larger as Bitcoin grows. The market has already grown massively in the recent months. This is why I'm not just saving everything, I got two different spending accounts already set up with more than enough Bitcoins for small purchases. One on my desktop and one on my Android phone. The savings I keep in a safe offline location.

This is to say that I hope the merchants keep at it, because I will start spending more coins when I find something really useful to spend them on. Using coins is very convenient and cheap so why not, and the added anonymity is a good plus.

What we also need are better and more convenient ways to know who accepts Bitcoin. The trade-listing in the wiki is crappy, it's not very user-friendly. Also we need maps for physical locations accepting Bitcoin. There are some already I think.

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September 19, 2011, 01:08:24 PM
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Spending existing bitcoins this way isnt really going to help move bitcoin forward.
We need is more new people start using it. The best way for that IMO, is contacting the websites where you buy stuff anyway (or donate to), and tell them you would like to pay/donate in bitcoins and direct them to bit-pay.com or similar to explain to them why its interesting for them to accept bitcoins.

I have done this so far for two alternative news sites that live from donations:

The Real News network (where I donate anyway). They have reacted and are looking in to it.
Democracy Now. Havent heard back yet, but they take the weirdest forms of donations, so I think they could be interested.

Both of those sites also reach reach fairly large audiences, so that is good if at least either of them would start accepting it.

Studio 777 (makers of Rise of Flight, an excellent WW1 flightsim). Only just contacted them. Niche market, but anything helps.

If every bitcoin user starts lobbying their online "suppliers" or recipients of donations this way, I think that could do a lot.


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September 19, 2011, 01:15:52 PM
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Spending existing bitcoins this way isnt really going to help move bitcoin forward.
We need is more new people start using it. The best way for that IMO, is contacting the websites where you buy stuff anyway (or donate to), and tell them you would like to pay/donate in bitcoins and direct them to bit-pay.com or similar to explain to them why its interesting for them to accept bitcoins.
+1

This is it. I mean, we're reaching the stage where we can actually offer an easy way to start accepting Bitcoins, using Bit-Pay or other advanced merchant services. This is something I've been planning to work on, not only from an online standpoint but in the real world.

The Bit-Pay mobile payment system changes the potential for physical stores to another level. I feel Bit-Pay will get competitors in the future that will copy their model and if I were them I would start a massive affiliate program as soon as possible.

An affiliate program would mean that basically anyone could try and convert their favourite stores to Bitcoin, using Bit-Pay, and then Bit-Pay would pay them a percentage of some sort. In fact I think I'll ask if they're interested in implementing something like this.

This would help a lot because there would be added incentive for everyone to get stores to accept Bitcoin.

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September 19, 2011, 01:26:37 PM
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An affiliate program would mean that basically anyone could try and convert their favourite stores to Bitcoin, using Bit-Pay, and then Bit-Pay would pay them a percentage of some sort. In fact I think I'll ask if they're interested in implementing something like this.

Honestly, thats not a good idea.
Its a GREAT idea!
I have already contacted bit-pay to suggest they prospect a few sites including the above, and they asked if I knew any contacts there and if I wanted to do it for them since they didnt want to "spam" potential customers (which is stupid IMO, they ought to spam them!). Anyway, so Im doing it "for free", but some sort of incentive would be a fantastic idea. Go tell 'm.

(edit: be sure to ask a % of the % for the idea Smiley )

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September 19, 2011, 01:28:33 PM
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Buy and sell goods and services in bitcoin is the best way to spread the word about bitcoin. Smiley  Congrats!  I hope to be doing the same soon.
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September 19, 2011, 06:31:05 PM
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each time i hit on some shop that would work just so much better in bitcoin i tell them in lengthy emails or personally. it's lobbying and it's annoying for me and them if they are not too much into it but i think if many do this, it can make a change.

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September 19, 2011, 06:37:02 PM
 #9

Oh! One more:

Yes, I am into hoarding but I would always spend the coins right away without any hesitation (if I would spend the money in €, too) as I know I can replace them today at Gox no matter what the rate is today with the good conscience of having spent BTC.

In other words: I am hoarding definitely above my limit of money left for fun/experiments/gambling and extending that amount is not a good idea but buying more BTC would not mean to extend this amount if I spent it before.

As I do believe in BTC to be more than a store of value I will give it away at any occasion where I would spend the same amount of € else.

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September 19, 2011, 06:37:36 PM
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each time i hit on some shop that would work just so much better in bitcoin i tell them in lengthy emails or personally.

Dont send them lengthy emails. They wont read them. Send them short emails and focus on the advantage to them,  dont bore them with the technical brilliance, or philosophy or whatever behind it. What they need to know is that its easy, cheap and safe. No charge backs and free marketing. If that is enough to make them watch the youtube clip on bit-pay.com, there is at least a chance they will look in to it. If you send them your version of Satoshi's whitepaper, there is zero chance.

mackminer
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September 19, 2011, 08:53:23 PM
 #11

Anyone with a template to send to merchants?

What about thinkgeek though? Was there some legal requirement for them to only accept dollars?

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September 19, 2011, 09:00:43 PM
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Anyone with a template to send to merchants?

Not sure if this is any good as template, but this is what I sent to TRNN (I left out the first personal paragraph, as I happen to know the person):
Quote
[removed intro] The idea is simple:  you should start accepting bitcoins for donations.

Bit-what you say? Explaining what exactly bitcoin  is would make this a very long email, Ill give the very short version: its an opensource,  peer 2 peer virtual cryptocurrency and an alternative internet based payment method. Should you have heard of it before, it might be because Wikileaks accepts it.  Its perfect to send and receive donations.

You can find a short video that explains some of the advantages for a company or organization such as yours, on the homepage of bit-pay here:

https://bit-pay.com/

Please note, Im not affiliated with bit-pay, who is just a service provider for bitcoin, nor do I endorse their product; frankly I dont even know it,  but the video gives you a good brief introduction why bitcoin is interesting for TRNN.

I hope you will give it 5 minutes. If you have any questions about bitcoin dont hesitate to ask.


Feel free to adapt and use if you think its any good. Note that I mention wikileaks because TRNN has done a fair number of actually balanced stories on wikileaks. Im not sure its a good idea to mention it to, say, wallmart Smiley

Quote
What about thinkgeek though? Was there some legal requirement for them to only accept dollars?

No idea. Something specific for thinkgeek then? If you glance over, for instance, Democracy now's donation page, you'll see they accept just about everything from used computers, stocks, cars, estate.. anything but bitcoins Smiley :
http://www.democracynow.org/get_involved/donate


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September 19, 2011, 09:03:50 PM
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The Bit-Pay mobile payment system changes the potential for physical stores to another level. I feel Bit-Pay will get competitors in the future that will copy their model and if I were them I would start a massive affiliate program as soon as possible.


That's a good idea, but we aren't quite ready for this yet.  We are still working with the pilot merchants in Orlando.

I'm thinking we send our Bitcoin Babes on a road trip around the country, what do you think?




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Does your website accept bitcoins?
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September 19, 2011, 09:09:57 PM
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I'm thinking we send our Bitcoin Babes on a road trip around the country, what do you think?

ahm..
I think you should start in Europe. Particularly in Belgium. Ill be happy to drive them around to the most promising prospective customers and other bars, and give...  presales support Cheesy

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September 19, 2011, 10:54:52 PM
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Well if anybody else agrees with the OP's post like I do,

You can't have value with out spending!
Head on over to www.CheaperInBitcoins.com and start adding value to Bitcoins!

I have access to over 1,000,000 products the only reason why i have no added all of them is becuase of time, and researching the products that people want takes lots of time.
Cut down this time in half but suggesting products that you'd like to purchase. Chances are if you want it i probubly have it! (Sorry no 6990's tho....)

I just went over to your site. I picked out one item at random. I researched no other item. Here is what I found.

http://www.cheaperinbitcoins.com/product.php?productId=7

Compared to this:

http://www.google.com/products/catalog?q=Verbatim+Wireless+%26+Rechargeable&hl=en&bav=on.2,or.r_gc.r_pw.&biw=1280&bih=685&um=1&ie=UTF-8&tbm=shop&cid=5100759309582569421&sa=X&ei=8MZ3Tq3QK47H0AGKv7DzDQ&ved=0CGYQ8wIwAQ
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September 19, 2011, 10:59:38 PM
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Well if anybody else agrees with the OP's post like I do,

You can't have value with out spending!
Head on over to www.CheaperInBitcoins.com and start adding value to Bitcoins!

I have access to over 1,000,000 products the only reason why i have no added all of them is becuase of time, and researching the products that people want takes lots of time.
Cut down this time in half but suggesting products that you'd like to purchase. Chances are if you want it i probubly have it! (Sorry no 6990's tho....)

I just went over to your site. I picked out one item at random. I researched no other item. Here is what I found.

http://www.cheaperinbitcoins.com/product.php?productId=7

Compared to this:

http://www.google.com/products/catalog?q=Verbatim+Wireless+%26+Rechargeable&hl=en&bav=on.2,or.r_gc.r_pw.&biw=1280&bih=685&um=1&ie=UTF-8&tbm=shop&cid=5100759309582569421&sa=X&ei=8MZ3Tq3QK47H0AGKv7DzDQ&ved=0CGYQ8wIwAQ

Yep you are correct,
That item is being sold for $41.15 and you can find that most other places are cheaper(except for the "really" really low stuff you need to have memberships for or fulfill some kind of offer) But you are saving money on a $10 bank wire transfer.

Alot of the "cheaper" stuff is the high-priced items you can save over $100 on some of those things!
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September 19, 2011, 11:32:16 PM
 #17

Well if anybody else agrees with the OP's post like I do,

You can't have value with out spending!
Head on over to www.CheaperInBitcoins.com and start adding value to Bitcoins!

I have access to over 1,000,000 products the only reason why i have no added all of them is becuase of time, and researching the products that people want takes lots of time.
Cut down this time in half but suggesting products that you'd like to purchase. Chances are if you want it i probubly have it! (Sorry no 6990's tho....)

I just went over to your site. I picked out one item at random. I researched no other item. Here is what I found.

http://www.cheaperinbitcoins.com/product.php?productId=7

Compared to this:

http://www.google.com/products/catalog?q=Verbatim+Wireless+%26+Rechargeable&hl=en&bav=on.2,or.r_gc.r_pw.&biw=1280&bih=685&um=1&ie=UTF-8&tbm=shop&cid=5100759309582569421&sa=X&ei=8MZ3Tq3QK47H0AGKv7DzDQ&ved=0CGYQ8wIwAQ

Yep you are correct,
That item is being sold for $41.15 and you can find that most other places are cheaper(except for the "really" really low stuff you need to have memberships for or fulfill some kind of offer) But you are saving money on a $10 bank wire transfer.

Alot of the "cheaper" stuff is the high-priced items you can save over $100 on some of those things!

Thank you so kindly, zenland, for your timely and professional response, of which I accept your explanation. That, alone, goes a long way.

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