Bitcoin
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- ETM0
*facepalm.
Until you understand that bitcoin DOES NOT revolve around the USD or other current currencies, you can't grasp it. And these sources of USD to bitcoin exchange rates are not exactly global authorities. They are extrapolating a somewhat false value to quantify and understand it it current terms. You're arguing a somewhat made up valuation.
- ukit20
THe Winklevoss twins claim to own 1% of all Bitcoins
- zaq0
Here is the best description of the concept of money I ever read.
http://www.reddit.com/r/finance/…
- zaq0
Buttercoin http://www.reddit.com/r/Bitcoin/…
- ********0
@ETM
Whether you want to believe that there is no connection between creating a worth between USD and BTC. Eventually you're gonna have to come up with a even or uneven exchange rate. If I am going to charge someone for shipping. I'm going to have to figure out how many bitcoins is worth in US stamps. Now if I can ship a package with bitcoin, then there's nothing to discus. But my post office does not take bitcoin yet.- More logically you'd use the appropriate currency in the appropriate situation rather than convert back and fourth.ETM
- ETM0
"this would all be relevant if we weren't buying bitcoins with USD. in the end we are exchanging USD for products and bitcoins are just an in between step" -scarabin
No really. Anyone buying bitcoins with currency are the ones causing the current mania and may lose their shirts because of lack of understanding. The smart people mined or exchanged coins for goods or services. Not bought them. They likely also recently sold some to the current market fools and made some money, while most buyers, unless they quickly found buyers themselves, will lose.
- sublocked0
Bingo ETM!
If anyone cares... sold @ $190ish...bought back in @ $60ish ... doubled my coins, sitting on $
Win Win Win.
- ********0
Does anyone have any good spots to use bitcoin?
- albums0
volatility only hurts vendors who don’t hedge their escrow balance
- qoob0
What's the easiest way to buy bitcoins? Is something like Bitinstant a good service for this?
- sublocked0
Also Coinbase is an upcoming player you might want to look @ if buying coins https://coinbase.com/
- qoob0
Yeah looked at Coinbase too...it seems like the main downside is that it takes almost a week to buy coins since they rely on bank transfer.
Bitinstant seems to be the only "immediate" way to buy coins online...I was surprised to find it's so difficult
- definitely part of the ecosystem that needs improvement.sublocked
- scarabin0
do you guys think now's an okay time to buy or is it still unstable? is there an updated price graph anywhere?
- http://bitcoin.sipa.…plash
- charts that show computational hashing rate which can indicate daily growth rate.plash
- cool, thanksscarabin
- scarabin0
oh nm
- plash0
^ i guess it depends on how much you want to put into it and if you're day trading or investing.
as a general response, yeah it's pretty stable, yet just like any currency it will fluctuate but by and large, historically speaking, it has been increasing its value and gaining market share.
- i'm mostly just interested in using SR. not trying to make any money but i sure wouldn't mind :)scarabin
- plash0
Mt.Gox exchange year end value. that's who i do my business with since they seem to handle an awful lot of volume. shit man i wish i bought more last year. (that and netflix stock) id be a rich man.
- scarabin0
has anybody found a good, easy to use mining solution for mac?
i'm running this
• Intel Core i7-970 Processor 6-core 3.20 GHz 12 MB Cache Socket LGA1366
• XFX ATI Radeon HD 5770 1 GB DDR5 2DVI/HDMI/DisplayPort PCI-Express Video Card HD577XZNFC
- mg330
I tried learning about them to explain them to my wife the other night, and we both arrived at the same conclusion: fake money.
- except you can spend itscarabin
- "except you can spend it"
Where? I'm hungry, what can I buy right now?sikma - Are you guys hungry for knowledge?
http://www.bitmit.ne…yurimon - a QBNer posted here about setting up his wife's restaurant to take BTC. i'm sure they're not the only onesscarabin
- its no different then the money you use meaning its fiat like federal reserve notes. phsycomiologyyurimon
- the problem is the word "fake", as if it's counterfeit. you can't spend counterfeit money, but this you canscarabin
- The only reason a currency works in the first place is because there is a group of people willing to accept it.ukit2
- Bitcoin meets that standard, therefore it's real moneyukit2
