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The Bitcoin Bubble ...


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Sassy Romano wrote:

Now you're just using an alt to reply to yourself.

I for one don't need to read anything.  I can do all my payments both send and receive in currencies that work just fine, I don't need to have any interest whatsoever in Bitcoin.

Remember, it's not legal tender and at that point, there ceases to be any interest in it.  I might as well trade in grass clippings.

Mhh the discussion starts to get interesting now. Sassy - this in not my alt. I think you mean the guy up to you.

You should accept maybe that there are more Bitcoin users out there reading this thread as well. But its hard to conversate with people Contra Bitcoin. You have interesting arguements but assumptions like this is a little bit childish now.

Sassy one question: as far as i know you are selling a lot of sex articles, like Sassy Bad Day Skirt isnt it. Did you know that a lot of children and adults are buying your skirt as good rape equipment? Or would you say this is a stupid assumption. To make it clear: your skirt can be used in a good or bad way, like bitcoin as well. I would like to use Bitcoin for faster withdrawals and to be more independent from LL in the case of bankrupcy. Using Bitcoin is as legal like using your Sassy's Bad Day Skirt. Its just business nothing else.

 

But to return to the discussion:  Which arguments speak against Bitcoin when Bitpay.com is integrated in Secondlife ?

With Bitpay you can get your USD or whatever much faster with no risc due to price fluctuations.

 

BTW: Bitcoin IS a LEGAL tender (in USA) - USA itself is selling at the moment the complete Silkroad Money from the FBI. Its just an other assumption from you, that Bitcoin is not legal. Sorry, but it IS.

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Qie Niangao wrote:

I'd feel better about it if reymark actually were Sudo's alt but the style is quite different, and I don't see Sudo presenting as such an unwitting congregant at the "believe in the power of bitcoin" revival tent. It reminds us that many ordinary folks are putting hard-earned savings at risk with bitcoin, and will be very lucky not to be parted with that money. One wonders how many of them lost everything when Silk Road 2 got wiped clean.

No its not my alt Qie - thank you.

My point of view is that Bitcoin is very interesting as an alternative payment option combined with bitpay.com together. Its better than to trust Paypal only. I would not be impressed if a sellers Paypal account is being frozen due to virtual cuba wares. If this seller is from Spain for example, Paypal could just ignore european laws. Would not be the first time Paypal is doing this practice.

BTW: The richest man Asias is investing in bitpay.com. His name is Li-Ka Shing  (investing over Horizons Ventures, early investor of Facebook and Skype)

Source: http://techcrunch.com/2013/12/27/asias-richest-man-invests-in-bitpay/

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What I love best about this latest collapse is the claim by some bitcoin apologists that it's no big deal because the exchange's insolvency is really just a few insiders trying to get cheap bitcoin.

Because it's always more fun to have one's currency debased by some anonymous clowns than regulated by a central bank.

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Amethyst Jetaime wrote:

The foundation is the organization behind Bitcoins. So while the US dollar , like all currencies is used for illegal activitiy, of the two,
only bitcoin has criminals as founding members of the board that supposedly is as close to the authority for bitcoin as you can get.


Sorry, but I have to correct you. The Bitcoin Foundation has as much to do with bitcoins as your local bank has to do with dollars. Bitcoin has no controllers, other than the people that write software to exchange it. So, anything any of these people did, has ZERO influence on the currency, other than people's reactions to it, and the fact that the Feds have more bitcoins to play with the market.

I have no idea if Bitcoin will succeed. It really depends on what you think is succeeding. To many, it already has succeeded. IMHO, bitcoin will succeed when more vendors are accepting it, and less people are hording it. Basically, it comes down to the volume of transactions. If the volume gets much higher, the value will more stabilize.

Why wouldn't a merchant accept bitcoins? Really, any fears are unfounded. It's like saying you won't take American Express. You will only be disadvantaged by not accepting it. The value of the currency is somewhat irrelevant, but I would still cash out as soon as you can to avoid any problems. This is also why the value is so unstable, as too few every day merchants hold the currency and then use it to buy other things. As more and more merchants accept it tho, this will all even out.

It's just a medium of exchange in the end. If you don't want to use it, then good. I'll have more customers then. And..... if any1 just want to donate some bitcoins to me..... cause I'm cool........ then.....

1AKYrRB8c35UcwrmoGA5SBmJzCSSrSjeXQ.png

 

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Qie Niangao wrote:

Because it's always more fun to have one's currency debased by some anonymous clowns than regulated by a central bank.

Yeah, cause the central bank will just extort the value over years. The solution to not losing the value of your assets, is to put those assets in Gold. Bitcoins are not gold, and any1 that think it is even like gold is delusional. That said, the dollar is guaranteed to go down, every single year, so I'd still favor bitcoins at this point. People want to make a big deal about this latest decline, but you are still up a crapload if you bought it in 2012. The dollar will never, ever, see a return, despite the fact that almost everything gets cheaper and cheaper to make every single year. See, deflation is a natural process of the market, and if the dollar was not inflated, the average people would be wealthier and wealthier over time. Hence why we have a central bank, as you wouldn't want to solve the problem of poverty if you are the government, as how are the politician going to get rich if they can't control things.

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  • 3 weeks later...


Amethyst Jetaime wrote:

. . .

the blackmarket Silk Road whose main purpose is drug dealing, international illegal trade and moneylaundering using bitcoins as currency, 

. . .

I thought the main purpose of Silk Road was trafficking in child sex slaves?

Yeah I've no interest in Bitcoin other than to see all the 'government is evil' types get raked over by the sharks swimming in those waters.

My actually smart real life libertarian friends (yeah, I have them, despite being on opposite sides of so many issues) are hoarding gold and um... for some reason, diesal and MREs. None of them have talked up bitcoin.

 

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