Bitcoin
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- armsbottomer0
there's a restaurant in midtown manhattan that accepts them.
http://starburst.hackerfriendly.…
- zaq0
This place in Dumbo accepts them as well: http://o-crepes.com/
- ********0
- sorry, i failed, topic already open, and I used html. Sorry all..CableStudios
- mg330
so it's kind of like fake money? no, wait, it's exactly like fake money.
- oddslob0
This >
- zaq0
^^^^ Ha $75 as of today
- ukit20
It failed?
- zaq1
- georgesIII1
The bitcoin bubble explosion will be interesting to watch,
- just like the internet bubble of the early 2000s .zaq
- yeah, investing in the internet was stupid because that idea never took off...monospaced
- Bitcoin has a finite limit. After a certain point, no more hashes can be created and what exists, exists. Combats inflation.ETM
- zaq0
Three eras of currency
Commodity based, e.g. Gold
Politically based, e.g. Dollar
Math based, e.g. Bitcoin
- animatedgif0
Got in pretty early on this, might play it safe and cash out next week
- i_monk0
^ HEAR THAT EVERYONE? SELL SELL SELL!
- ukit20
So do you actually buy stuff with your bitcoins, or is it just a backup plan for when the global economy crashes?
- drugs are the main thing being purchased these days but you can buy just about any good or service you want in bitcoin marketplaces... even webdesignscarabin
- marketplaces... even webdesignscarabin
- But finding people willing to pay for web design in bitcoins must be kind of toughukit2
- not with googlescarabin
- ukit20
Let's say I buy some drugs or other illegal goods online with bitcoins. There is still a paper trail leading to me because the stuff has to be sent by mail right? It doesn't seem quite as foolproof as it could be.
- "Current Resident
123 Your Street..."
Keep it sealed until consumption. Not evidence.mikotondria3 - cops don't care about people buying drugs, just people sellingscarabin
- well, buying can't happen without selling...monospaced
- "Current Resident
- zaq0
April 1st, 1B = 101.00
- dbloc0
dammit. I should have bought a few...I guy at my work has 64 left from back in the day
- forget it, just invest in real opportunities that you know about, like on the stock marketmonospaced
- Nah, your only hope of real fortune is semi-wise gambling like this. That's how everyone else makes their new money.mikotondria3
- zaq0
some time ago I convinced my wife who had a small creperie to start accepting bitcoins. We were one of the first physical locations to do that. There were not many purchases made using bitcoins, but it was still worth it.
- ETM0
There is some of incorrect information in this thread about bitcoins.
Some basic info:- Started in 2009.
- Mining of bitcoins exponentially becomes more difficult every day as more mining (cpu processing) is created/added, so the longer you wait, the less you can make.
- Bitcoin hash creation has a finite limit. When it's reached, no more coins can be minted. Which will help it retain value and prevent inflation.
-All money is 'fake'. Paper money is nothing but a promise, agreed to amongst different parties and adopted by society. Digital numbers moving around a computer (as your bank does today) is just data and not even tangible. You can accumulate or lose wealth without ever touching physical money. Bitcoins are no different. But it's not attached to a country or current currency, so it's truly global.
-Merchants accepting bitcoins continues to grow.I don't know how people have trouble with a digital currency when the same people give a merchant a plastic card with a code, then numbers are reduced in a computer database attached to your identity and you walk away with a physical good. If you exclude the option of "cash"... it's the same exact concept.
- yet, it suffers from an insane inflation issue where one bitcoin is nearing $100monospaced
- LOL. It's value against another currency is not inflation.ETM
- Inflation REDUCES the purchasing value of currency. Economics 101.ETM
- bitcoin tends toward deflation, by nature of its limited number of total bitcoins.monNom
- well, regardless, it "inflated" 4000% in what, 4 years?monospaced
- Inflation would dictate increasing currency has less purchasing power. Which is not the case.ETM
- You are not using the term inflation properly in this context.ETM
- But we know what you are saying.ETM
- But the rising exchange rate can be moot if something that cost one bitcoin 4 years ago still costs the same today.ETM
- I see. Makes sense, thanks for clarifying.monospaced
- monNom0
There's a rule for a parabolic move like that...
http://market-ticker.org/akcs-ww…
http://market-ticker.org/akcs-ww…- I'm sure it will. But value/demand of virtually anything follows a similar curve given enough time.ETM
