[QUOTE=Paramud;46915391]"Gas station robbed, over 1k lost"
wow who fuckin uses us dollars bububbles gonna come up erryone drowning in their loony investment i only judge my wealth in gold bullion i hide in my underwater vault[/QUOTE]
What are you even rambling about? A gas station is not a currency exchange.
[QUOTE=itisjuly;46915455]What are you even rambling about? A gas station is not a currency exchange.[/QUOTE]
But that's where I get all my currency exchanged
Honestly you guys are way too bashful about bitcoin (I am not replying to any particular individual if that's what I may be implying). It's used as a currency and despite what a lot of you think of it, it's not going anywhere and will continue to have a place on the internet. Whether it's something worth investing in is debatable, but people can't be bashed for their decision making regarding the coin, as it can be very profitable (and can be very risky as well).
What people do with their money is their own business and I hate seeing threads like these filled with shitposts about how it's not a currency or how it's shit. Some of you need to grow the fuck up and acknowledge that there are things in the world you don't like, but bitching about it isn't going to make it better.
[QUOTE=Snowmew;46914314]To say that Bitcoin is, at the moment, a worthwhile currency is an incredible joke.[/QUOTE]
it is easy to store and good for anonymous transactions dumbass. cryptocurrencies will always have value so long as there are drug dealers and users trading with each other. it is just volatile and that is all.
[QUOTE=hagbard;46915585]it is easy to store and good for anonymous transactions dumbass. cryptocurrencies will always have value so long as there are drug dealers and users trading with each other. it is just volatile and that is all.[/QUOTE]
A volatile and expensive currency that's value is in purchasing illegal drugs?
Well heck, I'm sold!
[QUOTE=Banandana;46915530]Honestly you guys are way too bashful about bitcoin (I am not replying to any particular individual if that's what I may be implying). It's used as a currency and despite what a lot of you think of it, it's not going anywhere and will continue to have a place on the internet. Whether it's something worth investing in is debatable, but people can't be bashed for their decision making regarding the coin, as it can be very profitable (and can be very risky as well).
What people do with their money is their own business and I hate seeing threads like these filled with shitposts about how it's not a currency or how it's shit. Some of you need to grow the fuck up and acknowledge that there are things in the world you don't like, but bitching about it isn't going to make it better.[/QUOTE]
The idiots who took it upon themselves to evangelise bitcoin as if it were the second coming poisoned the well really. It's died down now but it used to be the worst kind of scatter-gun plugging, especially when half their claims were distortions of reality or factually untrue. Basically bitcoin has little relevance to the majority of people, yet users pretended otherwise to the annoyance of most.
Also it had plenty of comedic schadenfreude going for it.
[QUOTE=King Penisless;46913783]I never understand the Bitcoin hate, lets disregard the price for a second. The whole concept of Bitcoin is simply amazing, you can send money anywhere in the world for next to no transaction fee instantly.
No banks or other payments processors can offer what Bitcoin does for the same price and same security because you are in control of your Bitcoin unless you hand over the power to someone else such as Bitstamp in this case.[/QUOTE]
Hmm. Let's sum up why I refuse to use BTC:
1: It's value can't, won't, or simply flat refuses to stabilize. Today a BTC might be worth a couple hundred bucks. Tomorrow it's worth ten yen. The day after that it's worth its weight in printer ink. The day after that? Itt'l buy you a 50,000 gallon tanker worth of printer ink! MAKE YOUR FUCKING MIND UP, BTC!
2: I can't buy a car with it. I can't buy hobby supplies with it. I can't buy video games from Steam with it. I can't buy groceries or car parts or pay my electric bill with it. The amount of places that accept them is not large and few of the ones that do are places I want to spend money.
3: I can't exchange it for USDs to buy those things, either, in large part because it's value is so damned volatile. I mean, sure, there's ways to transfer a bitcoin to US Dollars. I even have a paypal account, I could do it through them. but I don't know if that bitcoin is going to be worth five dollars or five hundred when something in my house breaks and I [i]need[/i] it. Knowing my luck that'll be the day they're barely worth their weight in scrap paper.
4: Because so many people use them for black market purchases governmental agencies tend to take an eye to anyone using them. The NSA wants in, the NSA has gotten in a few times when they've captured sites like Silk Road. I don't trust the currency enough. I have enough distrust in the USD to make me question it, but at least I don't have to worry about having suits watching me like a hawk because I exchanged a $20 bill for a plastic tank model in a hobby shop.
I'm not getting onto an e-currency with those glaring issues. Maybe when these things finally figure out how much they're worth and exchanging them for real money becomes a practical thing to do, when their 'illicit' stigma finally subsides, I'll reconsider, but until then I'm not wasting my time. And I'm not confident BTC will ever stabilize.
[QUOTE=TestECull;46915622]Hmm. Let's sum up why I refuse to use BTC:
1: It's value can't, won't, or simply flat refuses to stabilize. Today a BTC might be worth a couple hundred bucks. Tomorrow it's worth ten yen. The day after that it's worth its weight in printer ink. The day after that? Itt'l buy you a 50,000 gallon tanker worth of printer ink! MAKE YOUR FUCKING MIND UP, BTC!
2: I can't buy a car with it. I can't buy hobby supplies with it. I can't buy video games from Steam with it. I can't buy groceries or car parts or pay my electric bill with it. The amount of places that accept them is not large and few of the ones that do are places I want to spend money.
3: I can't exchange it for USDs to buy those things, either, in large part because it's value is so damned volatile. I mean, sure, there's ways to transfer a bitcoin to US Dollars. I even have a paypal account, I could do it through them. but I don't know if that bitcoin is going to be worth five dollars or five hundred when something in my house breaks and I [I]need[/I] it. Knowing my luck that'll be the day they're barely worth their weight in scrap paper.
4: Because so many people use them for black market purchases governmental agencies tend to take an eye to anyone using them. The NSA wants in, the NSA has gotten in a few times when they've captured sites like Silk Road. I don't trust the currency enough. I have enough distrust in the USD to make me question it, but at least I don't have to worry about having suits watching me like a hawk because I exchanged a $20 bill for a plastic tank model in a hobby shop.
I'm not getting onto an e-currency with those glaring issues. Maybe when these things finally figure out how much they're worth and exchanging them for real money becomes a practical thing to do, when their 'illicit' stigma finally subsides, I'll reconsider, but until then I'm not wasting my time. And I'm not confident BTC will ever stabilize.[/QUOTE]
From what it seems I've read, a lot of those issues will potentially disappear in the future. I do know that there is a company that allows you to use a debit card with bitcoin and it converts to USD on the fly, but it's in beta testing.
Obviously these kinds of hacks will degrade the value of bitcoin but because there's a limited number of them in existence, assuming it's adopted (which yeah, takes time obviously) will allow it to stabilize. I look forward to when it does, and even though I use it myself, I understand that there's not that much of a viable use of [I]storing[/I] currency in bitcoin as it's incredibly volatile. When it does get to a stable point, I think a lot of people will adopt it due to its structure and, eventually, convenience.
I'm glad I got out of Bitcoin when it started staying over $100. It's just too hard to predict what will happen, and you can't just make easy money off it any more.
Plus, I'm still pretty skeptical of how widely adopted a deflationary currency will be.
[QUOTE=Banandana;46915779]From what it seems I've read, a lot of those issues will potentially disappear in the future. I do know that there is a company that allows you to use a debit card with bitcoin and it converts to USD on the fly, but it's in beta testing.
Obviously these kinds of hacks will degrade the value of bitcoin but because there's a limited number of them in existence, assuming it's adopted (which yeah, takes time obviously) will allow it to stabilize. I look forward to when it does, and even though I use it myself, I understand that there's not that much of a viable use of [I]storing[/I] currency in bitcoin as it's incredibly volatile. When it does get to a stable point, I think a lot of people will adopt it due to its structure and, eventually, convenience.[/QUOTE]
See I don't really get the point in that, why not just use a normal debit card?
Thanks to direct deposit and a google wallet card I get the same basic conveniences but without any of the risks
(and there are also no service charges on any of it either)
[QUOTE=Paramud;46915391]"Gas station robbed, over 1k lost"
wow who fuckin uses us dollars bububbles gonna come up erryone drowning in their loony investment i only judge my wealth in gold bullion i hide in my underwater vault[/QUOTE]
Most types of currency can be stolen, but when a bank gets robbed they don't say " oh well, guess all your cash is gone now"
[editline]13th January 2015[/editline]
[QUOTE=Firewarrior;46913347]So it's Bitcoin's fault that exchanges get hacked? What?[/QUOTE]
No, but the currency isn't insured in anyway.
[QUOTE=TestECull;46915622]Hmm. Let's sum up why I refuse to use BTC:
2: I can't buy a car with it. I can't buy hobby supplies with it. I can't buy video games from Steam with it. I can't buy groceries or car parts or pay my electric bill with it. The amount of places that accept them is not large and few of the ones that do are places I want to spend money.
[/QUOTE]
But you can? I bought the Oculus Rift DK2 with bitcoins, I bought a macro lens for my DSLR with bitcoins and I bought many Steam games with bitcoins.
When bitcoin gets some regulation, then it'll be a legit currency. The problem with bitcoin people is they think it'll instantiate some kind of libertarian revolution and everyone will start using bitcoin instead of USD and the government won't be able to say shit about it.
[QUOTE=Firewarrior;46917525]But you can? I bought the Oculus Rift DK2 with bitcoins, I bought a macro lens for my DSLR with bitcoins and I bought many Steam games with bitcoins.[/QUOTE]
Through third parties or after conversion, sure. Bitcoins only really have bartering value right now. The vast majority of purchases cannot be directly paid for with bitcoins. The big names (Dell, Microsoft, etc.) that claim to accept bitcoin actually don't - they accept USD converted through a bitcoin processor. It's like saying your USD-denominated bank account can be used to pay for a company that accepts Euros only - technically, you can pay with USD, but the exchange risk is pushed onto a third party processor, so the firm doesn't really accept USD.
Same situation here. Most companies that "accept" bitcoin only do so through Coinbase such that they are silently exchanged into USD, EUR, GBP, or whatever currency the firm wishes to accept. They're not holding reserves of bitcoin. They don't inherently trust the "currency" because its value is so wildly unpredictable that it is far from safe to accept raw.
Bitcoin is the currency form of a Ponzi scheme stock.
bitcoin will always be worth something because its the only real digital currency, but its still a volatile currency.
Considering you can buy weapons/c4/drugs/phone jammers etc online with a digital currency people will continue to use bitcoin.
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