ericools (OP)
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May 14, 2011, 12:10:42 AM |
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I would love to know what marketshare each type of product or service has in bitcoin transactions. How much is money changing, people moving them from one computer to another so on...
I'm guessing there is no good way to tell so I would like to invite speculation. Any educated guesses? Anyone have any idea if the stores listed on the wiki as accepting bitcoins do very much business in bitcoins?
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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FreeMoney
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Strength in numbers
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May 14, 2011, 01:07:33 AM |
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Sex, drugs and rock n roll
Wait, where's the RnR? |
Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone. |
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mewantsbitcoins
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May 14, 2011, 01:16:56 AM |
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In my neighbor's nightmares. Jailhouse rock never gets old at 2am at full blast out of my z-2300
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edd
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May 14, 2011, 01:18:50 AM |
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I launched BitBrew.net, let's see, a grand total of 4 days ago and I've had three sales so far. I'd say that's pretty good considering I only have one product at the moment and I've spent less than 2 BTC on advertising in addition to promoting the site a bit here on these forums. I've also had several people express interest in whole beans, which I'll be adding soon (I'd offer them for sale now, but would rather wait until I actually have them in my hands before accepting payment), so I'm confident sales will continue to grow as my selection does.
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Still around.
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ericools (OP)
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May 14, 2011, 01:37:35 AM |
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I checked it out a bit earlier. I look forward to ordering some things with bitcoins once my supplies run low. I don't go though my coffee to fast, but who knows I mite try you out later.
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TradersEdgeDice
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May 14, 2011, 01:39:50 AM |
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I made changes to my site to put bitcoin front and center as a purchasing option.
Finished up today. I hope I get some sales. In the week of been working on this, the price has deflated from 6 BTC
to just above 3 BTC.Same money to me. I hope the higher exchange rate entices people to spend.
Gold would never be able to do this. Shaving gold? Not an option. Mining gold? Hell no.
The precision will lead to buying food. That's all weights and measures. It's a matter of time.
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casascius
Mike Caldwell
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The Casascius 1oz 10BTC Silver Round (w/ Gold B)
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May 14, 2011, 01:48:57 AM |
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I made changes to my site to put bitcoin front and center as a purchasing option.
...
Big cheer! Actions like yours are really the backbone of Bitcoin's success, far more so than mining or speculating. |
Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable. I never believe them. If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins. I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion. Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice. Don't keep coins online. Use paper or hardware wallets instead.
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Littleshop
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May 14, 2011, 02:25:56 AM |
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I launched BitBrew.net, let's see, a grand total of 4 days ago and I've had three sales so far. I'd say that's pretty good considering I only have one product at the moment and I've spent less than 2 BTC on advertising in addition to promoting the site a bit here on these forums. I've also had several people express interest in whole beans, which I'll be adding soon (I'd offer them for sale now, but would rather wait until I actually have them in my hands before accepting payment), so I'm confident sales will continue to grow as my selection does.
I also just started my online store recently, 6 days ago. So far about 3 sales a day. So people are spending coins for product even with all of these price changes. I did go with the priced in USD model, but then at the end of the process convert to BTC at the mtgox.com rate. This makes it so I do not have to change the prices at all which makes life easier. I started selling bumper stickers (manually before the store) at 1btc now they are down to around .33 btc shipped. Experiencing deflation in person is weird, I grew up with inflation most of my life. |
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ericools (OP)
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May 14, 2011, 02:52:34 AM |
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I launched BitBrew.net, let's see, a grand total of 4 days ago and I've had three sales so far. I'd say that's pretty good considering I only have one product at the moment and I've spent less than 2 BTC on advertising in addition to promoting the site a bit here on these forums. I've also had several people express interest in whole beans, which I'll be adding soon (I'd offer them for sale now, but would rather wait until I actually have them in my hands before accepting payment), so I'm confident sales will continue to grow as my selection does.
I also just started my online store recently, 6 days ago. So far about 3 sales a day. So people are spending coins for product even with all of these price changes. I did go with the priced in USD model, but then at the end of the process convert to BTC at the mtgox.com rate. This makes it so I do not have to change the prices at all which makes life easier. I started selling bumper stickers (manually before the store) at 1btc now they are down to around .33 btc shipped. Experiencing deflation in person is weird, I grew up with inflation most of my life. Sir, you have just made another sale. The PCI extender should let me add that 4th card to my mining rig without overheating and I picked up a bitcoin sticker for good measure. Feels so good to buy things with bitcoins! Also I love the site name and that awesome little animation as the items woosh! to your shopping cart. How hard is it to get a bitcoin shopping cart working like that with the dollar prices? There are a few local stores here that sell items not currently represented in the bitcoin world and I was think of offering to setup sites for them as I can not come up with a good product or service I can provide myself. |
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Amisād
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May 15, 2011, 01:20:09 AM |
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The services which are ultimately purchased are probably all kinds of things. Access to child pornography (I've just heard vague reports, haven't been able to confirm their existence, probably the most hush hush one), drugs (I've seen multiple sites, a few of which were said to be legit, can't confirm the majority, though), renting domains/shells/servers anonymously (these I have seen and yes, definitely real and in use). As for what some might call "legitimate" or simply legal services... I'm sure there are some, I just don't know of any, really.
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mewantsbitcoins
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May 15, 2011, 01:24:18 AM |
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The services which are ultimately purchased are probably all kinds of things. Access to child pornography (I've just heard vague reports, haven't been able to confirm their existence, probably the most hush hush one), drugs (I've seen multiple sites, a few of which were said to be legit, can't confirm the majority, though), renting domains/shells/servers anonymously (these I have seen and yes, definitely real and in use). As for what some might call "legitimate" or simply legal services... I'm sure there are some, I just don't know of any, really.
I know you're trolling but still: https://en.bitcoin.it/wiki/Trade |
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TurboK
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May 15, 2011, 01:41:18 AM |
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The services which are ultimately purchased are probably all kinds of things. Access to child pornography (I've just heard vague reports, haven't been able to confirm their existence, probably the most hush hush one), drugs (I've seen multiple sites, a few of which were said to be legit, can't confirm the majority, though), renting domains/shells/servers anonymously (these I have seen and yes, definitely real and in use). As for what some might call "legitimate" or simply legal services... I'm sure there are some, I just don't know of any, really.
I know you're trolling but still: https://en.bitcoin.it/wiki/TradeI've seen screenshots on /g/ of sites selling weed for btc too. Then of course, thats /g/. |
12zJNWtM2HknS2EPLkT9QPSuSq1576aKx7 Tradehill viral bullshit code: TH-R114411 |
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ericools (OP)
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May 15, 2011, 02:02:29 AM |
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I see this as being pretty limited in usefulness to drug dealers until it can be easily and quickly cashed out. I'm sure there are online sales and probably a few long distance operations using it to move money but I suspect of the shadier uses gambling is the big one. At least for the time being. It just doesn't seem to me that the activity talked about online could account for the traffic even as relatively small as it is. It just seems like there must be some people doing some unadvertised business with it in fair volume or a lot of the transactions are people sending themselves coins.
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DukeOfEarl
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May 15, 2011, 02:12:53 AM |
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The problem now is with the huge appreciation in value of bitcoins, nobody will use them as a currency since they make a better investment. People will hoard them until the price stabilizes.
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tomcollins
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May 15, 2011, 02:24:54 AM |
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The problem now is with the huge appreciation in value of bitcoins, nobody will use them as a currency since they make a better investment. People will hoard them until the price stabilizes.
Eventually greed will set in, and people will begin to sell faster than buyers come in. And then the fun ensues. |
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AtlasONo
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May 15, 2011, 02:54:52 AM |
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More bitcoins of course!
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AntiVigilante
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May 15, 2011, 03:26:01 AM |
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I would love to know what marketshare each type of product or service has in bitcoin transactions. How much is money changing, people moving them from one computer to another so on...
I'm guessing there is no good way to tell so I would like to invite speculation. Any educated guesses? Anyone have any idea if the stores listed on the wiki as accepting bitcoins do very much business in bitcoins?
I've converted the gains to buy diapers and a newborn's mattress. I'm in for the long haul. All the naysayers ignore the culture here to their own risk of eating crow. |
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MoonShadow
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May 15, 2011, 03:30:01 AM |
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I've never cashed out, but have bought many actual goods. I've bought handmade jewlrey off of etsy, a yard sign, bumper stickers, an mp3 player, prepaid phone cards, among other things.
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"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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AntiVigilante
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May 15, 2011, 04:02:19 AM |
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I've never cashed out, but have bought many actual goods. I've bought handmade jewlrey off of etsy, a yard sign, bumper stickers, an mp3 player, prepaid phone cards, among other things.
So you're hoarding information! Show us your links! |
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FreeMoney
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Strength in numbers
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May 15, 2011, 08:30:58 AM |
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The problem now is with the huge appreciation in value of bitcoins, nobody will use them as a currency since they make a better investment. People will hoard them until the price stabilizes.
Eventually greed will set in, and people will begin to sell faster than buyers come in. And then the fun ensues. How is it greedy to sell bitcoins for dollars? That seems like the conservative play. Let it ride is where the greed is. |
Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone. |
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goatpig
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Armory Developer
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May 15, 2011, 08:34:57 AM |
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The problem now is with the huge appreciation in value of bitcoins, nobody will use them as a currency since they make a better investment. People will hoard them until the price stabilizes.
Hoarding reduces supply. If anything it helps the price soar. |
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benjamindees
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May 15, 2011, 09:31:50 AM |
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Hoarding reduces supply. If anything it helps the price soar.
Only when there are no substitutes. China hoarding rare earth metals only prompted the US to develop it's own mines. Hoarding gold meant that copper was used as a substitute. Hoarding copper meant that plastics and aluminum were developed as substitutes. |
Civil Liberty Through Complex Mathematics
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ericools (OP)
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May 15, 2011, 08:26:12 PM |
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Hoarding reduces supply. If anything it helps the price soar.
Only when there are no substitutes. China hoarding rare earth metals only prompted the US to develop it's own mines. Hoarding gold meant that copper was used as a substitute. Hoarding copper meant that plastics and aluminum were developed as substitutes. Interesting, it seems to me that the best thing for the currency would be to spend it. Being as I have purchased a good sum of them in addition to my mining operation it is likely I will change some for USD or Euro (CAD ??) at some point, but I would prefer they to spend them given enough bitcoin accepting products or services are offered. |
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kiba
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May 15, 2011, 11:48:01 PM |
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I spend bitcoins on production and translation of new contents.
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tomcollins
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May 16, 2011, 12:05:50 AM |
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The problem now is with the huge appreciation in value of bitcoins, nobody will use them as a currency since they make a better investment. People will hoard them until the price stabilizes.
Hoarding reduces supply. If anything it helps the price soar. Right, and when it soars, the hoarding eventually comes to an end since someone has enough money to actually buy something substantial. But that essentially grows the supply by a huge amount, which drives the price right back down. What happens then is where it gets interesting. Either everyone else gets scared by the drop and jumps in, driving it down more, or buyers take advantage of the dip and buy it back. So we either stabilize or go on these crazy oscillations. |
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TradersEdgeDice
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May 16, 2011, 01:18:17 AM |
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I made changes to my site to put bitcoin front and center as a purchasing option.
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Big cheer! Actions like yours are really the backbone of Bitcoin's success, far more so than mining or speculating. Thank you. My humble goals are to sell my remaining units in bitcoin and (the real trick) to convince my fabricator to accept BTC for the Christmas order in August. Convincing the factory shouldn't be a problem but it would would require a bigger order. I'm looking forward to the brave new world of working with the digital equivalent of gold bar shavings. :-) |
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mewantsbitcoins
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May 16, 2011, 01:50:58 AM |
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Hey TradersEdgeDice,
Why don't you start a thread in marketplace and see how many people would like to buy this set. Maybe we could get enough people for your August order. You can count me in as your first customer. I could even send you bitcoins in advance
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ericools (OP)
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May 16, 2011, 02:15:44 AM |
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Those do look really nice, I don't suppose you could get them to make a set with a bitcoin logo on the dice.
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mewantsbitcoins
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May 16, 2011, 02:17:00 AM |
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Those do look really nice, I don't suppose you could get them to make a set with a bitcoin logo on the dice.
That's exactly what I was thinking. |
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Skratch
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May 16, 2011, 09:05:42 AM |
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well considering im new to bitcoins and have only acquired about 0.75 btc from mining i haven't spent them on anything. I do plan on betting on an upcoming UFC fight if i can make it up to 1 btc by then. after that.. idk there are a lot of services available its pretty amazing, im very glad i found out about btc before it was too late (wish i would have been here when the price was much lower tho). I dont think I would cash in unless i had over 100 btc to spare because I would rather trade em for goods in my mind its an alternative to $ not a way to get $.
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TradersEdgeDice
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May 26, 2011, 01:46:23 AM |
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I know it's OT but I rediscovered this thread just now.
Yes, they're nice. They have a great weight as they are solid aluminum.
The general plan is to replace one of the symbols with a bitcoin logo.
Not sure which symbol to replace with BTC.
I could make a political statement and replace "$" with the BTC symbol. :-)
The other direction I can take with the August order is to risk going against the platonic form of "dice" and make an eight sided die.
The extra two sides can be homes for the rupee and the BTC. India introduced an interesting looking symbol last year.
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bitcoinBull
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rippleFanatic
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May 26, 2011, 06:05:26 AM |
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The majority is being spent on dollars, or said differently, sold on MtGox.
Just did a record $400,000 USD in volume yesterday.
Which was the total bought & sold on MtGox. More buyers than sellers, which drives the price up.
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College of Bucking Bulls Knowledge
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Cusipzzz
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May 26, 2011, 12:57:14 PM |
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well considering im new to bitcoins and have only acquired about 0.75 btc from mining i haven't spent them on anything. I do plan on betting on an upcoming UFC fight if i can make it up to 1 btc by then. after that.. idk there are a lot of services available its pretty amazing, im very glad i found out about btc before it was too late (wish i would have been here when the price was much lower tho). I dont think I would cash in unless i had over 100 btc to spare because I would rather trade em for goods in my mind its an alternative to $ not a way to get $.
well, betting on UFC fits. take a look at my signature  I've seen more traffic as the price keeps rising, so gambling is an active part of the economy and I wouldn't call it hoarding. |
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ericools (OP)
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June 01, 2011, 01:34:45 AM |
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You could just pull out all the stops and do a 20 sided die.
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TradersEdgeDice
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June 01, 2011, 02:51:25 PM |
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You could just pull out all the stops and do a 20 sided die.
There are only so many original currency designs. Most are variations of the pound and the dollar. |
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davilla24c
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June 01, 2011, 09:46:24 PM |
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cloud9
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June 01, 2011, 09:52:02 PM |
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This would be nice if people can use it in this way:
Typical joe/jane: I can't wait for a facebook application that allows me to transfer to my friend with my blackberry with btc's to make up for my share of the bill at the restaurant. The app writer, as well as the person who referred me to this convenient method to transfer btc's to my friend can take a small fee on the transaction - as well. I'm not interested in running a client - because i don't even mine on my blackberry. I just want to give to my friends sometimes, easily on facebook with no complicated addresses - just want to click on their facebook names please and add number of bitcoins!!!
Joe now likes Jane
Joe sent Jane 0.3 bitcoins
Jane poke Joe
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