Ghaleon16 (OP)
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October 13, 2014, 11:10:30 PM |
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https://www.youtube.com/watch?v=woQ1j8gBje8Pretty cool.... BUT... this will just keep sinking the price unless we get them to actually KEEP the btc and exchange it for GOODs... with merchants who also keep it and exchange it for goods... like maybe a hotdog from a food truck... thus completing the circle! Example: If a cafe begins using Bitcoin and instantly converting it to dollars then there is no circle. Blood does not flow from your heart to your arm and remain there, it must flow back for there to be life. When that cafe’s suppliers, like the bean distributor and bakery begin accepting Bitcoin and their suppliers such as the farm that supplies them their beans and flour begin accepting Bitcoin then we are approaching the closure of the circle. If that farmer goes into the city and buys a cup of coffee with Bitcoin then the circle is officially closed. We really need to figure this out. Check this article, does a decent job of explaining the concept. http://blog.easybitz.com/2014/10/05/closing-the-circle/
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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bbit
Legendary
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Activity: 1330
Merit: 1000
Bitcoin
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October 13, 2014, 11:41:05 PM |
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https://www.youtube.com/watch?v=woQ1j8gBje8Pretty cool.... BUT... this will just keep sinking the price unless we get them to actually KEEP the btc and exchange it for GOODs... with merchants who also keep it and exchange it for goods... like maybe a hotdog from a food truck... thus completing the circle! Example: If a cafe begins using Bitcoin and instantly converting it to dollars then there is no circle. Blood does not flow from your heart to your arm and remain there, it must flow back for there to be life. When that cafe’s suppliers, like the bean distributor and bakery begin accepting Bitcoin and their suppliers such as the farm that supplies them their beans and flour begin accepting Bitcoin then we are approaching the closure of the circle. If that farmer goes into the city and buys a cup of coffee with Bitcoin then the circle is officially closed. We really need to figure this out. Check this article, does a decent job of explaining the concept. http://blog.easybitz.com/2014/10/05/closing-the-circle/ The music is awesome in it! I see the original: https://www.youtube.com/watch?v=o_I8KB4CeVI & https://www.youtube.com/watch?v=OGAinUySHQU |
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sly5am
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October 13, 2014, 11:46:13 PM |
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The circle will close when the banking system we use today, collapses, under the fake monetary system we all are forced to use. Bitcoin cannot be destroyed nor manipulated by the Forces of Wealthy entities that steal with impunity our works worth. This end is coming, are you ready?
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LFC_Bitcoin
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Activity: 3528
Merit: 9544
#1 VIP Crypto Casino
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October 14, 2014, 12:00:00 AM |
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The circle will close when the banking system we use today, collapses, under the fake monetary system we all are forced to use. Bitcoin cannot be destroyed nor manipulated by the Forces of Wealthy entities that steal with impunity our works worth. This end is coming, are you ready?
That won't happen in our lifetime, don't be stupid. We just need to get BTC accepted as a proper currency & adopted by lots more companies. |
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lihuajkl
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Activity: 1596
Merit: 1000
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October 14, 2014, 03:40:28 AM |
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It takes times before bitcoin is recognized by all of them. At least we are approaching there. There are more and more merchants accepting bitcoin payment.
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Vessko
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October 14, 2014, 10:34:44 AM |
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If a cafe begins using Bitcoin and instantly converting it to dollars then there is no circle. It doesn't "convert" the bitcoins at the Tooth Fairy. It sells them for dollars on the exchanges. Which means that somebody is buying these bitcoins for dollars (or some other form of fiat). There are two sides to every trade. |
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n0rBit
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Activity: 21
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October 14, 2014, 01:28:12 PM |
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It takes times before bitcoin is recognized by all of them. At least we are approaching there. There are more and more merchants accepting bitcoin payment.
Yes there are many small time merchants accepting bitcoin but the development is still very very slow. |
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MF Doom
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October 14, 2014, 01:31:26 PM |
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businesses are smart to take payment in bitcoin, but not enough new people are buying them...YET. I think this will change in the next year
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micky123
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Activity: 1022
Merit: 1005
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October 14, 2014, 01:34:51 PM |
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The circle will close when the banking system we use today, collapses, under the fake monetary system we all are forced to use. Bitcoin cannot be destroyed nor manipulated by the Forces of Wealthy entities that steal with impunity our works worth. This end is coming, are you ready?
That won't happen in our lifetime, don't be stupid. We just need to get BTC accepted as a proper currency & adopted by lots more companies. I think i tend to agree. The monetary system will not collapse as long as the US keeps printing dollars without any backing. TBH bitcoin can be manipulated quite easily right now as we have seen. The rich will continue to get richer by jumping on to the bitcoin bandwagon too. A small bit of negative news crashes the bitcoin market. I don't think this is a de-centralized currency yet because it can still be manipulated by a big group of whales. Agree with OP though, we need to get BTC accepted and get people to want to keep BTC instead of instantly redeeming them for Dollars. It is true that bitcoin when converted is also purchased by someone and that kind of makes up the circle, but it would be far better to have all deals closed with BTC. It should never really be tied to a failing currency like the dollar. |
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gog1
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October 14, 2014, 01:43:21 PM |
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The point is not merchant accepting bitcoin. The point is merchant accept bitcoin and provide some of the benefits back to the people who pays in bitcoin!
Why would the average Joe go buy BTC then spend BTC instead of just using cash / CC / etc.?!
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MF Doom
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October 14, 2014, 01:44:26 PM |
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The point is not merchant accepting bitcoin. The point is merchant accept bitcoin and provide some of the benefits back to the people who pays in bitcoin!
Why would the average Joe go buy BTC then spend BTC instead of just using cash / CC / etc.?!
Right, like 10% off to all bitcoin customers? But I dont think these companies really care all that much about taking bitcoins, they just want to boost sales in general |
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itsAj
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October 14, 2014, 02:42:15 PM |
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Bitcoin really helps on the ground merchants without the need for counting change. Glad to see they are accepting this.
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iwillwin
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October 14, 2014, 05:49:57 PM |
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This story reminds me of an incident where a hard drive containing Bitcoins worth millions was dumped in a garbage heap. I just visualized a pick up truck doing it.
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skyzer
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October 16, 2014, 08:29:09 PM |
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would like to see every street vendor accepting bitcoin
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jbreher
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lose: unfind ... loose: untight
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October 16, 2014, 09:20:56 PM |
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The monetary system will not collapse as long as the US keeps printing dollars without any backing.
Riiiiight....  |
Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.
I've been convicted of heresy. Convicted by a mere known extortionist. Read my Trust for details.
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Chronos Slayer
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October 17, 2014, 01:53:36 AM |
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dang i didn't know or i could go there  |
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micky123
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October 17, 2014, 06:18:43 AM |
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The monetary system will not collapse as long as the US keeps printing dollars without any backing.
Riiiiight.... Eh! damn, maybe i meant the monetary system will collapse ! You billionaire , trillionaire you  |
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Kluge
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October 17, 2014, 06:26:09 AM |
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I know there's at least one cattle ranch taking coin. So.... supply and demand. If there should eventually be a significant number of food trucks taking bitcoin, it's more likely their suppliers will. It all snowballs, or branches out... whatever you want to call it. Customers service end-business which takes coin, ranch services end-business, farm services ranch, and now the bakery has the option of a supplier taking coin, too. Assuming the end-business isn't immediately converting coin, they may be particularly interested in being able to buy their needed supplies for coin - in which case, more BTC customers = more coin = higher likelihood of trying to find suppliers taking BTC.
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turvarya
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October 17, 2014, 06:56:16 AM |
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OP just seems like another one of this people who wants to get rich quick.
If you want Bitcoin to succeed the exchange price is not important. The important thing is, that people can use bitcoins and get used to using it.
Success is about gaining acceptance.
Vendors will keep more and more of the bitcoins they earn eventually .
And don't worry, the exchange price will follow eventually.
But that is a slow process.
If you want to get rich quick, you can try daytrading, but that is a big risk and I personally wouldn't recommend it.
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PL_CoinTrader
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October 17, 2014, 06:56:49 AM |
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Imho you missed a point which is the actual reason why merchants can't hold or use their earned bitcoins. It's volatility.
Even if every part in the circle accepts bitcoin each merchant will immediately convert their btc to fiat because they can't play with bitcoins volatility, it's too risky to keep btc until they buy something with it.
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