[2014-02-08] Is Bitcoin a Bubble or is it a Ponzi Scheme?

[Ripdon007]

I enjoyed this read for sure. Anyone that still thinks that bitcoin is either a bubble or a ponzi scheme needs to check this out...

https://coinreport.net/bitcoin-a-bubble-ponzi/

[Lethn]

Hurray for logic! Too bad hardly anybody is going to read this and keep repeating the same bullshit.

[jballs]

I just place a large (for me at least) order with tiger direct and paid in bitcoin.

Was cool as hell. Even fills out the send order for you.

I will post a screengrab tomorrow maybe just for posterity.  Sure felt like just spending money but less paperwork.

Meanwhile still waiting for a paypal trasnfer i made two days ago to hit my bank account. Because you know they have to be SLOW about all of it.

May seem off topic but I find it to be a vastly superior form of doing business and that is all.

[Ripdon007]

I just place a large (for me at least) order with tiger direct and paid in bitcoin.

Was cool as hell. Even fills out the send order for you.

I will post a screengrab tomorrow maybe just for posterity.  Sure felt like just spending money but less paperwork.

Meanwhile still waiting for a paypal trasnfer i made two days ago to hit my bank account. Because you know they have to be SLOW about all of it.

May seem off topic but I find it to be a vastly superior form of doing business and that is all.

lol that's epic.. paypal sux sometimes 

[Ripdon007]

Hurray for logic! Too bad hardly anybody is going to read this and keep repeating the same bullshit.

You're absolutely spot on you know... for most people.. ignorance is bliss ..

[Carlton Banks]

I just place a large (for me at least) order with tiger direct and paid in bitcoin.

Was cool as hell. Even fills out the send order for you.

I will post a screengrab tomorrow maybe just for posterity.  Sure felt like just spending money but less paperwork.

Meanwhile still waiting for a paypal trasnfer i made two days ago to hit my bank account. Because you know they have to be SLOW about all of it.

May seem off topic but I find it to be a vastly superior form of doing business and that is all.

To me, this is much better proof that PayPal and the legacy are operating like a ponzi.

If they've really got the money, what's the hold up? Surely they're not using your money to patch a hole in their finances, then waiting until someone elses money come into the system to pay you. Which sounds like there isn't enough money in the overall system to cover all the obligations. Surely not....

I wonder if, as time goes on, the waiting period for money to move around in the legacy banking system gets longer and longer.

[Ripdon007]

I just place a large (for me at least) order with tiger direct and paid in bitcoin.

Was cool as hell. Even fills out the send order for you.

I will post a screengrab tomorrow maybe just for posterity.  Sure felt like just spending money but less paperwork.

Meanwhile still waiting for a paypal trasnfer i made two days ago to hit my bank account. Because you know they have to be SLOW about all of it.

May seem off topic but I find it to be a vastly superior form of doing business and that is all.

To me, this is much better proof that PayPal and the legacy are operating like a ponzi.

If they've really got the money, what's the hold up? Surely they're not using your money to patch a hole in their finances, then waiting until someone elses money come into the system to pay you. Which sounds like there isn't enough money in the overall system to cover all the obligations. Surely not....

I wonder if, as time goes on, the waiting period for money to move around in the legacy banking system gets longer and longer.

I've had really bad run-ins with paypal over the past 10 years. Most of those have been to the favor of the buyer... paypal is setup to screw its "little" sellers. And not to mention their ridiculous fees and the hold time on transactions whenever they feel like it without justification. Even chimps would do a better job a paypal.. no wonder they're threatened by bitcoin

[guybrushthreepwood]

I just place a large (for me at least) order with tiger direct and paid in bitcoin.

Was cool as hell. Even fills out the send order for you.

I will post a screengrab tomorrow maybe just for posterity.  Sure felt like just spending money but less paperwork.

Meanwhile still waiting for a paypal trasnfer i made two days ago to hit my bank account. Because you know they have to be SLOW about all of it.

May seem off topic but I find it to be a vastly superior form of doing business and that is all.

To me, this is much better proof that PayPal and the legacy are operating like a ponzi.

If they've really got the money, what's the hold up? Surely they're not using your money to patch a hole in their finances, then waiting until someone elses money come into the system to pay you. Which sounds like there isn't enough money in the overall system to cover all the obligations. Surely not....

I wonder if, as time goes on, the waiting period for money to move around in the legacy banking system gets longer and longer.

Isn't the problem on the banks end, not PP?

[Carlton Banks]

I just place a large (for me at least) order with tiger direct and paid in bitcoin.

Was cool as hell. Even fills out the send order for you.

I will post a screengrab tomorrow maybe just for posterity.  Sure felt like just spending money but less paperwork.

Meanwhile still waiting for a paypal trasnfer i made two days ago to hit my bank account. Because you know they have to be SLOW about all of it.

May seem off topic but I find it to be a vastly superior form of doing business and that is all.

To me, this is much better proof that PayPal and the legacy are operating like a ponzi.

If they've really got the money, what's the hold up? Surely they're not using your money to patch a hole in their finances, then waiting until someone elses money come into the system to pay you. Which sounds like there isn't enough money in the overall system to cover all the obligations. Surely not....

I wonder if, as time goes on, the waiting period for money to move around in the legacy banking system gets longer and longer.

Isn't the problem on the banks end, not PP?

Well, it could be either or both, as PayPal uses the legacy banking system anyway. PayPal are having problems getting money into and out of their own internal bank accounts, or so the story goes. Who knows which way round the hold up is? You'll not get a candid answer to that question any time soon

[Ripdon007]

Isn't the problem on the banks end, not PP?

The problem is PP trying to save their own behind when it comes to it.. they would much rather screw over their sellers..

Bitcoin could very well one day go toe to toe with PP... it's really not that difficult to picture

[guybrushthreepwood]

Isn't the problem on the banks end, not PP?

The problem is PP trying to save their own behind when it comes to it.. they would much rather screw over their sellers..

Bitcoin could very well one day go toe to toe with PP... it's really not that difficult to picture

I'm sure it will, but Bitcoin will probably need a third party or something like PP for it to be used with something like ebay etc anyway.

[coinarch]

Don't forget that the Internet will fail also, "The Internet? Bah!" (1995 Newsweek) http://thenextweb.com/shareables/2010/02/27/newsweek-1995-buy-books-newspapers-straight-intenet-uh/#!u5Hzx.

Whenever something so revolutionary as bitcoin hits the public consciousness it is very difficult to accept and imagine the new world that is getting laid in front of us. I remember when I first used the world wide web back in 1995 and was blown away by the possibilities, most of which I could never imagine (online banking, social networks, etc).

[alex_bronco]

it's really not that difficult to picture how Bitcoin will do very well one day