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Author Topic: Article: Bitcoin is an "opt in" community currency, here's how to get it at a...  (Read 2620 times)
Trader Steve
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March 18, 2012, 07:18:54 PM
 #1

Article:

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Bitcoin is an "opt in" community currency, here's how to get it at a discount
http://wp.me/p1adwa-3W

Bitcoin is a currency used by a community of individuals and businesses. It is used to facilitate the trade of goods and services. It is private, irreversible and transfers are virtually instantaneous – whether they are across the room or across the globe.

Bitcoin has all of the characteristics of a quality medium of exchange. It is accepted on a voluntary basis and there are over 45 million dollars worth already in circulation.

Bitcoin is basically an “opt in” currency. You have to “opt in” if you wish to accept it. How do you opt in? Simply let it be known that you will accept it as payment.

When you offer your goods and services in exchange for bitcoin you are essentially acquiring bitcoin at your “cost of goods”. For example: if the cost of your goods or services is half of your retail price, then you are essentially acquiring bitcoin at a 50% discount.

Are you interested in more business? If you decide to accept bitcoin as another payment option for your products and services you will open up your business to a whole new market of potential customers. By listing your products and services in the bitcoin wiki you will get free advertising that is yours for the taking.

To summarize, if you would like more business why not “opt in” and join us in the bitcoin community?
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March 18, 2012, 07:26:20 PM
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Article:

Quote
Bitcoin is an "opt in" community currency, here's how to get it at a discount
http://wp.me/p1adwa-3W

Bitcoin is a currency used by a community of individuals and businesses. It is used to facilitate the trade of goods and services. It is private, irreversible and transfers are virtually instantaneous – whether they are across the room or across the globe.

Bitcoin has all of the characteristics of a quality medium of exchange. It is accepted on a voluntary basis and there are over 45 million dollars worth already in circulation.

Bitcoin is basically an “opt in” currency. You have to “opt in” if you wish to accept it. How do you opt in? Simply let it be known that you will accept it as payment.

When you offer your goods and services in exchange for bitcoin you are essentially acquiring bitcoin at your “cost of goods”. For example: if the cost of your goods or services is half of your retail price, then you are essentially acquiring bitcoin at a 50% discount.

Are you interested in more business? If you decide to accept bitcoin as another payment option for your products and services you will open up your business to a whole new market of potential customers. By listing your products and services in the bitcoin wiki you will get free advertising that is yours for the taking.

To summarize, if you would like more business why not “opt in” and join us in the bitcoin community?

+1

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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March 18, 2012, 07:29:17 PM
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Nice
Etlase2
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March 18, 2012, 09:16:15 PM
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I don't follow the logic of acquiring bitcoins at a 50% discount. The article appears to be written by someone who shouldn't be writing articles, no offense.

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March 18, 2012, 09:21:24 PM
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I don't follow the logic of acquiring bitcoins at a 50% discount. The article appears to be written by someone who shouldn't be writing articles, no offense.

1. Buy candybar for $0.25, you normally sell this for $0.50 in your store.
2. Sell candybar for $0.50 worth of BTC.
3. You just acquired $0.50 worth of BTC for $0.25.

Obviously, you would have to scale it up to be worth your time, but that's what he's trying to say.

It is apparent he isn't a professional writer, but I found it to be easy to read.  I am glad to see someone publishing such articles.  What have you done for the bitcoin community lately Etlase2?

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
Etlase2
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March 18, 2012, 09:32:40 PM
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Sown the seeds of dissent, of course.

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March 18, 2012, 09:53:01 PM
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I don't follow the logic of acquiring bitcoins at a 50% discount. The article appears to be written by someone who shouldn't be writing articles, no offense.

1. Buy candybar for $0.25, you normally sell this for $0.50 in your store.
2. Sell candybar for $0.50 worth of BTC.
3. You just acquired $0.50 worth of BTC for $0.25.

Obviously, you would have to scale it up to be worth your time, but that's what he's trying to say.

It is apparent he isn't a professional writer, but I found it to be easy to read.  I am glad to see someone publishing such articles.  What have you done for the bitcoin community lately Etlase2?

This is, of course, unbelievably stupid. It could be rephrased as:

1. Buy candybar for $0.25, you normally sell this for $0.50 in your store.
2. Sell candybar for $0.50 worth of dollars.
3. You just acquired $0.50 worth of dollars for $0.25.

...
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March 18, 2012, 09:55:05 PM
 #8

ARABIAN CRACK IS WHACK BRO

this is a sure fire way to make money at a 50% discount, what u talkin bout willis

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March 18, 2012, 10:06:47 PM
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I don't follow the logic of acquiring bitcoins at a 50% discount. The article appears to be written by someone who shouldn't be writing articles, no offense.

1. Buy candybar for $0.25, you normally sell this for $0.50 in your store.
2. Sell candybar for $0.50 worth of BTC.
3. You just acquired $0.50 worth of BTC for $0.25.

Obviously, you would have to scale it up to be worth your time, but that's what he's trying to say.

It is apparent he isn't a professional writer, but I found it to be easy to read.  I am glad to see someone publishing such articles.  What have you done for the bitcoin community lately Etlase2?

This is, of course, unbelievably stupid. It could be rephrased as:

1. Buy candybar for $0.25, you normally sell this for $0.50 in your store.
2. Sell candybar for $0.50 worth of dollars.
3. You just acquired $0.50 worth of dollars for $0.25.

...

Yes, or it could be phrased like this:

1. Buy candybar for $0.25, you normally sell this for $0.50 in your store.
2. Sell candybar for $0.50 worth of BTC.
3. You just acquired $0.50 worth of BTC for $0.25.

I don't understand how this is stupid.  If I want to buy $0.50 worth of BTC on MtGox right now I will spend exactly how much in USD?  Right, $0.50.  Or I can sell a product of mine for bitcoin.  Assuming I'm not an idiot and I ordinarily sell my products at a profit, then, as explained, I'm essentially getting bitcoins for less than the market price.  Herp derp.
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March 18, 2012, 10:11:16 PM
 #10

but pointing this out is like saying the sky is blue, it is something that makes everyone who reads it dumber

Trader Steve
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March 18, 2012, 10:16:51 PM
 #11

Sown the seeds of dissent, of course.

If I were nitpicking, I would point out that "sowing" would be clearer word than "sown" but I'm not. I understand your message perfectly.  Roll Eyes
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March 18, 2012, 10:18:05 PM
 #12

Yes, it is incorrect to say that by selling goods for bitcoin one is getting bitcoin at 50% off. A vendor sells his trinket either for $10 or $10 worth of Bitcoins, and in both cases he's obtained assets equal to $10.

There are many reasons to sell things for Bitcoin, but "obtaining Bitcoin at half price" is a fallacious one.
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March 18, 2012, 10:24:00 PM
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but pointing this out is like saying the sky is blue, it is something that makes everyone who reads it dumber

I may be walking out on a deductive limb him here, but it looks to me like notme's post was a direct response to somebody else explicitly stating that they didn't understand what was quoted in the OP.  I don't think notme was trying to give you, or the community in general, a powerful and intriguing lessong in math or economics or whatever.
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March 18, 2012, 10:25:38 PM
 #14

Yes, it is incorrect to say that by selling goods for bitcoin one is getting bitcoin at 50% off. A vendor sells his trinket either for $10 or $10 worth of Bitcoins, and in both cases he's obtained assets equal to $10.

Ok, but how much did the vendor buy his trinket for?  Let's assume he isn't an idiot.
Trader Steve
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March 18, 2012, 10:26:36 PM
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Yes, it is incorrect to say that by selling goods for bitcoin one is getting bitcoin at 50% off. A vendor sells his trinket either for $10 or $10 worth of Bitcoins, and in both cases he's obtained assets equal to $10.

There are many reasons to sell things for Bitcoin, but "obtaining Bitcoin at half price" is a fallacious one.

If your cost of goods is 50% of your retail price then the cost of the item you trade for is your cost of goods. Seems pretty simple to me. I see no fallacious argument here. Leave out the "dollar price" terminology and you simply have a situation where one good is exchanged for another. In the candy bar example, the candy bar is a medium of exchange which the person uses to acquire bitcoin instead of paying cash directly.
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March 18, 2012, 10:27:10 PM
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but pointing this out is like saying the sky is blue, it is something that makes everyone who reads it dumber

I may be walking out on a deductive limb him here, but it looks to me like notme's post was a direct response to somebody else explicitly stating that they didn't understand what was quoted in the OP.  I don't think notme was trying to give you, or the community in general, a powerful and intriguing lessong in math or economics or whatever.

+1

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
proudhon
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March 18, 2012, 10:31:01 PM
 #17

but pointing this out is like saying the sky is blue, it is something that makes everyone who reads it dumber

I may be walking out on a deductive limb him here, but it looks to me like notme's post was a direct response to somebody else explicitly stating that they didn't understand what was quoted in the OP.  I don't think notme was trying to give you, or the community in general, a powerful and intriguing lessong in math or economics or whatever.

+1

BTW, I don't know what a lessong is.  I just made it up.

Trader Steve
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March 18, 2012, 10:36:46 PM
 #18

Here is a brain teaser, just for fun: Who is the buyer and who is the seller in this (or any) transaction?
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March 18, 2012, 10:51:30 PM
 #19

Here is a brain teaser, just for fun: Who is the buyer and who is the seller in this (or any) transaction?

Everyone is both.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
12jh3odyAAaR2XedPKZNCR4X4sebuotQzN
Trader Steve
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March 18, 2012, 10:54:40 PM
 #20

Here is a brain teaser, just for fun: Who is the buyer and who is the seller in this (or any) transaction?

Everyone is both.

+1
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