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Author Topic: How is Bitcoin valuable for YOU?  (Read 1658 times)
blablahblah
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March 30, 2012, 12:18:41 PM
 #1

I might as well go first. I value:
  • My new-found ability to make transactions without giving money to corporations that I hate.
  • The instinctive feeling that I can really trust my private keys, like they are real coins.
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Polvos
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March 30, 2012, 12:40:49 PM
 #2

It allows me to hold some saving out of the banking system and the hands of the government.

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March 30, 2012, 12:41:22 PM
 #3

It allows me to hold some saving out of the banking system and the hands of the government in a secure form.

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March 30, 2012, 12:52:12 PM
 #4

All we need now is a "Bitcoin Tax Collection Service" to recruit latecomers, and an "International Bitcoin Fund" to lend Bitcoins to tinpot dictators  Grin
blablahblah
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March 30, 2012, 01:18:15 PM
 #5

Bitcoin is the most interesting thing I've seen in decades.

Leaving aside the technology, which is pretty amazing in itself, it
also created an ecosystem that is like a pure capitalistic dream
micro-laboratory.

Consider:

    - we have a stock market exchange (GLBSE)
    - we have a banking industry (see the lending forums)
    - we have a budding credit reporting bureau (bitcoin-otc.com)
    - we start to see the first financial derivatives for sale (https://bitcointalk.org/index.php?topic=74552.0;all)
    - we have dedicated hardware design startups (various FPGA makers, Butterfly Labs, Largecoin)
    - we have 16 year old high school students selling mining bonds to start their own FPGA mining company (www.cognitivemining.com)
    - we have a ton of startups trying all kinds of crazy ideas around commerce, technology, charities, etc ...
    - we have money exchangers (GoX, Intersango, ...)

I could go on., but just to say I haven't fell that level of excitement
and creativity since the internet started to make it to the mainstream
consciousness in the 90's

So TL;DR : what I value is  the entirely new and huge realm of
possibilities that has been created from ex nihilo by the bitcoin idea.

So would you say it has even got some sort of voyeuristic value?

I must admit that I don't really understand the concept of somehow "lending" bitcoins. Sooner or later, someone is bound to come up with a "Bitcoin backed" fractional reserve currency, which will really confuse people.
niko
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There is more to Bitcoin than bitcoins.


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March 30, 2012, 02:49:44 PM
 #6

After months of fascination with Bitcoin for purely ideological and technical reasons, I realized that I could use it for something I normally do in real life: international money transfers. It works better than any other option. Bitcoin is better.

I don't care at all about the government and how Bitcoin supposedly prevents them from interfering with my life (I think the reality is exactly opposite), and I am not obsessed with privacy.

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
hazek
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March 30, 2012, 03:09:50 PM
 #7

Leaving aside the technology, which is pretty amazing in itself, it
also created an ecosystem that is like a pure capitalistic dream
micro-laboratory.

+1 I personally cannot wait for all the stupid idiotic fallacious theories people hold so dearly and were brainwashed to believe are what the reality really is to simply blow up in smoke due to hard evidence provided by the Bitcoin ecosystem a few years down the road. All the moronic deflation-spiral-panic talk, all the free market is unregulated and unconstrained fantasy beliefs and all the money needs a central manager and be 'elastic' or manageable in some other fancy phd named way in order to accommodate a growing economy, all this BULLSHIT someone people make a living on spewing will get destroyed once and for all.

I couldn't be more excited about Bitcoin if this was it's only benefit.

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
lonelyminer (Peter Šurda)
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March 30, 2012, 03:30:54 PM
 #8

To paraphrase Richard Dawkins: Bitcoin is interesting, and if you don't agree you can fuck off.
istar
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March 30, 2012, 09:18:36 PM
 #9

Consider this.

Bitcoin is the only way to use electronic money without it being owned by a private company.

All other ways of using electronic money is by having it stored in Private bank and private payment solutions.
We give away the power to controll our money "cash" to private companies who charge everyone on earth every time we spend or use our money
and keep track of what almost every single person do, shop and think and can freeze out the money of any person they dont like.

Thats why Bitcoin or a cryptocurrency is valuable to everyone.
Its a key to keep the little democracy we can have as we get dependent of the internet.

Bitcoins - Because we should not pay to use our money
hazek
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March 30, 2012, 10:29:16 PM
 #10

Just to correct you, because I'm sure you meant this:

Its a key to keep the little democracy freedom we can have as we get dependent of the internet.

Democracy != freedom.

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
fivemileshigh
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March 31, 2012, 08:36:01 AM
 #11

It cannot be inflated at will to force me to pay for some asshat's pet project.


payb.tc
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March 31, 2012, 09:17:22 AM
 #12

i know this thread is not really about 'price' or exchange rate but i was thinking recently about how sometimes there is resistance in me to spend any of my coins and i realised it's because i value them much higher than $5 each.

when i spend 10 btc for example, it feels like i'm giving up A LOT more than fifty bucks.

i think subconsciously i'm taking into account their 'future value'.

...still LOVE the convenience of spending coins over fiat though Cheesy
payb.tc
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March 31, 2012, 09:33:35 AM
 #13

I immediately turn around and send the corresponding USD amount to my MtGox account and buy the coins back a couple of days later once the money gets there.

heh, not a bad plan, except that costs me $30 each time.

i'm actually hoping i can just earn and grow my btc stash completely off the initial seed... i.e. without further $ injections.

if only i had hot bewbs like the ggbtc girls.
payb.tc
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March 31, 2012, 09:52:32 AM
 #14

I immediately turn around and send the corresponding USD amount to my MtGox account and buy the coins back a couple of days later once the money gets there.

heh, not a bad plan, except that costs me $30 each time.


Why ?

Where I live, sending money to Gox
costs me pretty close to nothing.

because i don't live where you live, and gox doesn't have a bank account in australia as far as i'm aware. they used to use a company called technocash for domestic transfers here, but they don't anymore.
Omni
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March 31, 2012, 10:11:47 AM
 #15

BitCoin is valuable to me because it is valued by others Smiley

FIAT MONEY MOFO'S
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March 31, 2012, 10:15:02 AM
 #16

It especially appreciate Bitcoins because I have the security that no one can control or freeze my funds and I set my transaction costs. Its not recognized as a currency by any countries so if I had the ability to purchase goods and services I could do it with out the government to intervene into what should be an A/B transaction
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March 31, 2012, 10:32:02 AM
 #17

I love bitcoin because of the low transaction cost. Even in the future when the costs rise, they will go to mining companies who compete in a completely free market system with little to no barrier to entry. Therefore I know transaction costs will be lower than any other payment system possible because the free market WORKS.

Best Bitcoin supported browser game:
Minethings: Dig, Trade, and Fight your way to influence!
blablahblah
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March 31, 2012, 02:07:05 PM
 #18

i know this thread is not really about 'price' or exchange rate but i was thinking recently about how sometimes there is resistance in me to spend any of my coins and i realised it's because i value them much higher than $5 each.

when i spend 10 btc for example, it feels like i'm giving up A LOT more than fifty bucks.

i think subconsciously i'm taking into account their 'future value'.

...still LOVE the convenience of spending coins over fiat though Cheesy

That's a really good point. When I started surfing this forum, I was bit shocked at how so many people were throwing the term "value" around loosely, when they really meant "today's market price" or "mining cost" or "estimated future dollar returns", among others. This thread has really exceeded my hopes in getting people to think about how they feel about Bitcoin and how to put their sentiments into words.  Smiley

I immediately turn around and send the corresponding USD amount to my MtGox account and buy the coins back a couple of days later once the money gets there.

heh, not a bad plan, except that costs me $30 each time.
I had the same problem at one point. Last time I checked, crypto-x-change had a few too many bugs and readability issues for me to feel comfortable using them, and I hope they been getting it sorted out because Australia is a real banana republic when it comes to banking.
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