Bitcoin - Page 2 - GoFuckYourself.com

Biggy · 05-23-2015, 09:46 AM

Quote:

Originally Posted by kazbalah

With bitcoin now a peasant farmer in Africa can send any amount, 1 cent or 1 million, instantly and for little or no fees. No middle men, no funds are in motion, peer to peer money transfers that are very secure indeed.

Its going to revolutionize the third world, who have no banking facilities at all.

Its spawned 100's of alt coins, trades, exchanges, tools, stores and more. Every day new people are adopting it. Ebay is looking to add it, Microsoft already has.

Im only going to say this once - I highly suggest you guys check it out.

Instant payments with no fees, keep your money on a USB drive or even on a piece of paper, send it instantly worldwide for free, no charge backs, tiny or no fees, the list goes on.

In fact behind me, i have a global banking system setup. I am earning 5-10% interest compounded and paid daily. I can instantly send money worldwide, buy things, trade in gold oil silver and many, many other things.

Every day my wealth is increasing. Their is also the possibility the value of my coins will increase, and it can increase be 100, 1000, 1 million or even 1 billion times.

MASSIVE ROI possibilities.

Simply put, bitcoin and crypto currencies are amazing and you guys should really take a closer look at what bitcoin actually is, its not just some internet money its a whole new business eco system, and your alive when its just started, an amazing opportunity.

because 3rd world countries in Africa have such amazing technological infrastructure to facilitate Bitcoin.

Most these people aren't even on a computer, own a computer, have used a computer. They need technological infrastructure first to even make what you say true, so in a way Bitcoin is the most ironic invention I've ever seen.

1. Yes it's a way to settle transactions.
2. Yes in 3rd world shithole countries with horrible currencies it's probably better.
3. it's not and will not be pragmatic in most 3rd world countries because they are so far behind the basics on technology.

Please explain to me how a peasant farmer in Africa who knows fuck all about computers will all of a sudden adopt this very complex technological crypto currency there is no way they can possibly understand because they've barely been on the Internet.

Barry-xlovecam · 05-23-2015, 10:24 AM

Quote:

Originally Posted by Biggy

[P]lease explain to me how a peasant farmer ... who knows fuck all about computers will all of a sudden adopt this very complex technological crypto currency there is no way ...

We take Bitcoin -- text me!

Smoke another one ...

ilnjscb · 05-23-2015, 10:53 AM

Here dude, I'll make you an offer.

You want to talk Africa, I'll take you to Africa with me. I'll make sure you don't get killed or gringoed, etc, and I'll make sure you see some awesome shit.

I'll take you to Botswana, Kenya, and Namibia. We can discuss MPESA with Kenyan merchants, and you can see whether bitcoin will serve for them in the near term.

Don't worry you don't speak Swahili or Tswana, they all speak English. You pay your expenses, of course, I'll pay mine.

When you get back, you can devise a real plan for implementation with your new contacts, and help real Africans understand the new paradigm.

Or you can go on reddit and circle jerk about bitcoin some more.

Biggy · 05-23-2015, 11:12 AM

Quote:

Originally Posted by Barry-xlovecam

We take Bitcoin -- text me!

Smoke another one ...

Lol yep.

Bitcoin is the most ironic thing ever. When the technological infrastructure is better, their banking system will also probably be a lot better eliminating a big part of the reason for BTC. It has the most appeal to the places where its the least pragmatic to adopt, and in the places where its most pragmatic to adopt, people prefer regular currency.

BTC is a speculative tool. The technology seems to be going in the direction that it can be used to settle transactions. So the NASDAQ is testing it for settlement purposes. So instead of a stock order taking 3 days to settle, you may be able to settle 48h faster. Sorry, I do not see the big deal in this. The 3 day settlement doesn't actually change anything. All orders are delivered at the price agreed upon 3 days before and you can still sell your stock immediately, since it shows in your account in the brokerage immediately. The transactions are all but guaranteed.

danielpbarron · 05-24-2015, 12:39 PM

Quote:

Originally Posted by Biggy

Bitcoin is the most ironic thing ever. When the technological infrastructure is better, their banking system will also probably be a lot better eliminating a big part of the reason for BTC. It has the most appeal to the places where its the least pragmatic to adopt, and in the places where its most pragmatic to adopt, people prefer regular currency.

It's sound money. That is all. There is no alternative. It's bitcoin or nothing. It "has the most appeal" to people who want sound money, which is everybody.

Quote:

Originally Posted by kazbalah

BTW who said running a full node on a mobile phone? Im talking a tiny 20KB mobile phone application that can text message some crypto currency instantly.

If it doesn't have a full node then it can't send "some crypto," and you couldn't send it in a text message anyway. The thing you are describing could work just as well with dollars; it's not like bitcoin is the reason you can now authorize money transfers with your cell phone.

Quote:

Originally Posted by kazbalah

See my friend, this is my whole point. You keep calling it money, like its a money system.

Its a new peer 2 peer technology that allows mass groups of people to reach a consensus.

Many new systems can be built on top, money is only one tiny application. Think of a new internet, and all the possibilities that come with it.

That is what bitcoin is. A whole new technology platform.

This sums up the crux of my argument. Bitcoin is strictly money. The "whole new technology" is strictly for money. It's not a good system for anything else. You are parroting U.S. government propaganda by suggesting otherwise. Bitcoin as a "technology layer" is not a threat to the dollar. Seeing that there is no hope in re-bagging the cat, their narrative has shifted from "it can't work" to "we can use this" -- a neutered version with all the flair of a revolutionary technology, but none of the potency to end socialism once and for all.

kazbalah · 05-24-2015, 10:03 PM

Quote:

Originally Posted by ZeroHero

bitcoin is illegal here ...

Oh damn that sucks, what country are you in?

That would be a big problem for bitcoin if the US made it illegal.

kazbalah · 05-24-2015, 10:08 PM

Quote:

Originally Posted by Biggy

Please explain to me how a peasant farmer in Africa who knows fuck all about computers will all of a sudden adopt this very complex technological crypto currency there is no way they can possibly understand because they've barely been on the Internet.

Mate i already explained it

Its already being used. Phone credits became a currency, which accounts for 40% of GDP for that country. If i get time ill post the article here.

They simply send a text message to text phone credits to each other. It started off as a way to send phone credit to your family or friends, you can send them minutes. Then someone probably asked a shop keeper hey can i trade you some milk and bread for phone credits.

Boom a new currency is born.

Its just like the internet.. people might not know exactly how it works on the backend but they still use it for doing every day tasks.

You can email money. If anyone can send an email or text message they can send bitcoin.

kazbalah · 05-24-2015, 10:09 PM

Quote:

Originally Posted by ilnjscb

Here dude, I'll make you an offer.

You want to talk Africa, I'll take you to Africa with me. I'll make sure you don't get killed or gringoed, etc, and I'll make sure you see some awesome shit.

I'll take you to Botswana, Kenya, and Namibia. We can discuss MPESA with Kenyan merchants, and you can see whether bitcoin will serve for them in the near term.

Don't worry you don't speak Swahili or Tswana, they all speak English. You pay your expenses, of course, I'll pay mine.

When you get back, you can devise a real plan for implementation with your new contacts, and help real Africans understand the new paradigm.

Or you can go on reddit and circle jerk about bitcoin some more.

I love the idea, although i wont be travelling to Africa i am sure it can all be organized online, anything can be

kazbalah · 05-24-2015, 10:16 PM

Quote:

Originally Posted by Barry-xlovecam

We take Bitcoin -- text me!

Smoke another one ...

Haha.. it does sound funny doesn't it

But imagine, if it did actually work - And we look back at this thread, won't you look a bit silly

A bit like the people who watched the wright brothers build their first plane, they stood on the side and laughed and thought it was a stupid idea.

Or Columbus when he said he could sail around the world, everyone told him they would fall off the end of the world because it was flat.

History does not remember the names of the people who stood on the side and laughed.

Me personally i love new ideas and technology and like to think outside of the box. I like to make my own trends, rather than follow them.

Do me a favor, and list 10 of the technologies that can be built on top of the block chain. Show me your technical knowledge of the system and why its flawed, and if your right well then your right - I won't argue illogically.

But i have a sneaking suspicion you might be one of those people that has opinions on subjects without having knowledge on it, by making an emotional decision based on how you feel about the idea without really knowing what it is.

But please i would like you to prove me wrong, don't go and Google it i will know lol..

kazbalah · 05-24-2015, 10:27 PM

Quote:

Originally Posted by danielpbarron

It's sound money. That is all. There is no alternative. It's bitcoin or nothing. It "has the most appeal" to people who want sound money, which is everybody.

If it doesn't have a full node then it can't send "some crypto," and you couldn't send it in a text message anyway. The thing you are describing could work just as well with dollars; it's not like bitcoin is the reason you can now authorize money transfers with your cell phone.

This sums up the crux of my argument. Bitcoin is strictly money. The "whole new technology" is strictly for money. It's not a good system for anything else. You are parroting U.S. government propaganda by suggesting otherwise. Bitcoin as a "technology layer" is not a threat to the dollar. Seeing that there is no hope in re-bagging the cat, their narrative has shifted from "it can't work" to "we can use this" -- a neutered version with all the flair of a revolutionary technology, but none of the potency to end socialism once and for all.

Your right in the fact that fiat currency could be used with a text messaging system. But then it would be centralized, you would need a central server to control it all and thats the whole point of bitcoin. Its like peer 2 peer money.

The other problem would be the fee's. The banks are ripping everyone off, 30$ to cash a cheque, wait 3 days or a week or even more. Then by printing off so much money we have massive inflation, so your $100 next year is really only worth $95 - In reality its worth even less if you take into account other factors.

So if the banks did ANY innovation, or had ANY competition - we might see new services and competitive pricing. But again if you centralize anything, you have room for corruption.

And as for bitcoin just being money, that shows a simplistic view of the system. I had the same thoughts, until i really looked into it.

Their are currency exchanges built onto the system, it can be used for p2p file sharing, p2p, crowd funding, tipping online, micro transactions and micro payments, games are built onto it casinos.. i could go on and on. And its early days. Their are many technical problems to be solved, but in my opinion this is only going to get bigger.

ReggieDurango · 05-24-2015, 11:09 PM

I would buy some bitcoin, if I could figure out how the fuck to do it. And I'm not some peasant in Africa!

kazbalah · 05-24-2015, 11:19 PM

Quote:

Originally Posted by ReggieDurango

I would buy some bitcoin, if I could figure out how the fuck to do it. And I'm not some peasant in Africa!

Its pretty easy really, you go to a site like igot.com sign up and verify your bank account, this is the slow part it takes a few days.

Once you have that you just deposit money from your bank account to them, and once its transfered via sloow ass banks you can buy the bitcoin instantly and transfer it instantly into your own account or whenever you want.

Its easy once you know how to do it i buy small amounts each week or month.

danielpbarron · 05-25-2015, 09:21 AM

Quote:

Originally Posted by kazbalah

Your right in the fact that fiat currency could be used with a text messaging system. But then it would be centralized, you would need a central server to control it all and thats the whole point of bitcoin. Its like peer 2 peer money.

The other problem would be the fee's.

Your cell phone app is also centralized. You are not really using bitcoin. You are assuming that your app is telling you the truth about the block chain. In order to take advantage of bitcoin's decentralized nature, you must maintain a full node.

And the fees. Bitcoin is not cheaper; it doesn't have lower fees. That is the wrong reason to promote it. The only reason bitcoin fees appear so low at the moment is because it is still relatively unused. Once the blocks start filling up, you will need to pay much larger fees in order to get your transactions confirmed.

You need to read the log, and stfu until you're done.

Quote:

Originally Posted by ReggieDurango

I would buy some bitcoin, if I could figure out how the fuck to do it. And I'm not some peasant in Africa!

Try #bitcoin-otc. I wouldn't trust some random website that wants your bank info.

David White · 05-25-2015, 11:46 AM

Quote:

Originally Posted by Biggy

because 3rd world countries in Africa have such amazing technological infrastructure to facilitate Bitcoin.

Most these people aren't even on a computer, own a computer, have used a computer. They need technological infrastructure first to even make what you say true, so in a way Bitcoin is the most ironic invention I've ever seen.

1. Yes it's a way to settle transactions.
2. Yes in 3rd world shithole countries with horrible currencies it's probably better.
3. it's not and will not be pragmatic in most 3rd world countries because they are so far behind the basics on technology.

Please explain to me how a peasant farmer in Africa who knows fuck all about computers will all of a sudden adopt this very complex technological crypto currency there is no way they can possibly understand because they've barely been on the Internet.

Since I feel the same. I had to bump this post.

Plus with all the hacking going on. The trust these days are very minimum when dealing with digital currency.

kazbalah · 05-25-2015, 07:49 PM

Quote:

Originally Posted by danielpbarron

Your cell phone app is also centralized. You are not really using bitcoin. You are assuming that your app is telling you the truth about the block chain. In order to take advantage of bitcoin's decentralized nature, you must maintain a full node.

And the fees. Bitcoin is not cheaper; it doesn't have lower fees. That is the wrong reason to promote it. The only reason bitcoin fees appear so low at the moment is because it is still relatively unused. Once the blocks start filling up, you will need to pay much larger fees in order to get your transactions confirmed.

You need to read the log, and stfu until you're done.

Try #bitcoin-otc. I wouldn't trust some random website that wants your bank info.

Well that's what online wallets are, aren't they? Small virtual wallet which does not use the power of the block chain to make transactions, its just like a bank account or facebook account with a username and login. Certainly not a place to keep large amounts of bitcoin, just your day to day usage.

As for fees, i think it could be sustained at 5 cents a transaction. Still very cheap, much cheaper then banks. In fact you can choose how much you pay, and the less you pay the longer it will take. If your transfering small amounts don't pay a fee, just wait longer. If you want to transfer 10 million, which would cost 400k + with paypal - Put a fee of a dollar and it will go through really fast.

But hey its a new technology and its certainly possible it will fail. All im saying is it has MASSIVE potential, and if you really take a good look at it you might agree

Would be fantastic if adult adopted it widely, would be a big boom for bitcoin and crypto in general.

danielpbarron · 05-25-2015, 10:09 PM

Quote:

Originally Posted by kazbalah

Well that's what online wallets are, aren't they? Small virtual wallet which does not use the power of the block chain to make transactions, its just like a bank account or facebook account with a username and login. Certainly not a place to keep large amounts of bitcoin, just your day to day usage.

Yes, and online wallets should also not be encouraged. There will come a time when bitcoin has destroyed the dollar and you will have no choice but to use a bitcoin denominated bank account. The "ease of use" services will come after bitcoin has taken over; it doesn't need them in order to be successful.

Quote:

Originally Posted by kazbalah

As for fees, i think it could be sustained at 5 cents a transaction. Still very cheap, much cheaper then banks. In fact you can choose how much you pay, and the less you pay the longer it will take. If your transfering small amounts don't pay a fee, just wait longer. If you want to transfer 10 million, which would cost 400k + with paypal - Put a fee of a dollar and it will go through really fast.

Actually, a transfer of 10 million would not require any fee; it's only the petty stuff that needs to pay. And the block chain cannot be sustained at 5 cents per transaction; the fee will have to go up in order to accommodate the limited block size.

kazbalah · 05-26-2015, 05:09 AM

Quote:

Originally Posted by danielpbarron

Yes, and online wallets should also not be encouraged. There will come a time when bitcoin has destroyed the dollar and you will have no choice but to use a bitcoin denominated bank account. The "ease of use" services will come after bitcoin has taken over; it doesn't need them in order to be successful.

Actually, a transfer of 10 million would not require any fee; it's only the petty stuff that needs to pay. And the block chain cannot be sustained at 5 cents per transaction; the fee will have to go up in order to accommodate the limited block size.

I think online wallets could be safe. Paypal is basically an online wallet you just need good security measures. I think blockchain.info does not keep your wallet keys, and i think its possible for other solutions to be built onto the block chain that are decentralized and 100% secure.

As for the large transfers and fees - So your saying on a 10 million transfer they would not charge a large amount? You could be right, thats a good point. I would imagine the banks would do it cheap, probably WU also.

I have not crunched the numbers so im not sure what would need to be charged per transaction. Me personally i think thats bitcoins biggest flaw is the processing power needed to run the network.

Although a new POS (Proof of stake) method has emerged which can run on basic windows PC's, just in the background while you work it takes nothing. People debate if its secure enough tho, so we will see.

This is the way i like to think about it.. its a total gamble investing in bitcoin and other crypto currencies. I am putting in what i can afford to lose, and if it all fails i really dont mind at all and i will have a big laugh.

Most of my friends and family don't understand it and probably think i am crazy.

But the potential is enormous, its a 50/50 shot and ill put a few bucks down ;)

DAMNMAN · 05-26-2015, 07:08 AM

Quote:

Originally Posted by BlackCrayon

i'd say bitcoin is more like bbs' in that there will be several things that replace it before its accepted and widely used. just my opinion though.

I still say the Internet comparison is valid.
The Internet wasn't what it is now when it went online. First the modems were 28k or less.
There was no video to speak of as it was too slow.
They worked on it and tweaked it to make it what is is today.
BTC will evolve as well.

Onlt time will tell.

DAMNMAN · 05-26-2015, 07:14 AM

Quote:

Originally Posted by kazbalah

Here is a good example i heard about.

In nigeria or one of the African nations, a new currency was born out of trading cell phone credits. Its called the el paso or something like this.

Basically people can text phone credit to each other, trade it. Now it makes up 40% of the countries total trade. People can text message credit to each other using old nokia 3230 style phones.

Someone can go into a little shop, and trade these phone credits for eggs milk and bread or whatever they need. They text message the credits to the shop owner and its done, its irreversible.

The banks are a joke.. 30$ to cash a cheque, wait 2 - 4 weeks.. huge fees, their has been no competition or innovation in the financial sector for over 50 years, besides derivatives and other crazy ponzi schemes.

Saying we have missed the boat is a bit small minded i think. Perhaps we missed the chance to buy bitcoins for a few cents each. But many people, myself included think the price of bitcoin is very low.

Its simple mathematics, their are 21 million total bitcoins so its rare. If the whole world started using it, the price would be 10,000 or even 100,000.

And apart from that their is still alot of money to be made in alt coins, trading exchanges and other tools in the industry.

I think everyone should really take the time to look at this technology properly, its not just a coin its a whole new business eco system and architecture.

The digital currency I heard of in Africa was called "Ven" a couple of years ago.

DAMNMAN · 05-26-2015, 07:26 AM

Quote:

Originally Posted by kazbalah

Smart man. The real money is long term. I see alot of people buying / selling out very quickly and the lose. Me personally i would be waiting 5 or 10 years, i am sure the price will be ALOT higher if it keeps being used.

Currently their is only about 120k transactions per day. Thats nothing. Now lets imagine if its doing 1 million, or 10 million per day. What are the coins worth then?

Besides all that - Fuck the banks, they are a bunch of greedy bastards who are fucking the whole world up because they are greedy limp dicked fat basards who rape the third world, this will be some good competition for them.

Wellllll.... There is a need for this technology in 70+% of the world when the unbanked are.
Bitcoin completely replaces Western union and other money transmitters.
Transaction costs are minimal.
Don't need a merchant account with a bank.
Nobody can tell you what you can or cannot do with you bitcoin!!!!

kazbalah · 05-29-2015, 11:09 PM

Quote:

Originally Posted by DAMNMAN

Wellllll.... There is a need for this technology in 70+% of the world when the unbanked are.
Bitcoin completely replaces Western union and other money transmitters.
Transaction costs are minimal.
Don't need a merchant account with a bank.
Nobody can tell you what you can or cannot do with you bitcoin!!!!

Thats my favourite thing about bitcoin... fuck the banksters. They have been ripping EVERYONE off for years and years.

Our fiat currency becomes worth less each year, because they print that shit up like its toilet paper.

The money comes with 3-5% interest attached to it.. why do you think the US economy is going to collapse?

Because nixon or whoever it was sold us out to the banks, have them permission to print the money. Now the US pays interest in ALL money. Thats why your debt is only growing.

Its a scam, the biggest one in history.

But hey Daniel thank you for debating it like an adult.. something i was not expecting on GFY

gourl · 06-15-2015, 10:44 AM

Quote:

Originally Posted by Barry-xlovecam

Actually, crude oil was a good investment from its low.
....

You can add Bitcoin as additional payment gateway on your website.
No ID Required, No Bank Account Needed, Zero Risk, No Chargebacks.

See GoUrl.io - Anonymous Bitcoin Gateway for Adult Websites.
.

Barry-xlovecam · 06-15-2015, 12:29 PM

Quote:

Originally Posted by gourl

You can add Bitcoin as additional payment gateway on your website.
No ID Required, No Bank Account Needed, Zero Risk, No Chargebacks.

See GoUrl.io - Anonymous Bitcoin Gateway for Adult Websites.
.

Had you bothered to look, we added a Bitcoin payment option months ago ... zzzzzz

05-23-2015, 10:53 AM	#53
ilnjscb Confirmed User Industry Role: Join Date: Jun 2009 Posts: 8,837	Here dude, I'll make you an offer. You want to talk Africa, I'll take you to Africa with me. I'll make sure you don't get killed or gringoed, etc, and I'll make sure you see some awesome shit. I'll take you to Botswana, Kenya, and Namibia. We can discuss MPESA with Kenyan merchants, and you can see whether bitcoin will serve for them in the near term. Don't worry you don't speak Swahili or Tswana, they all speak English. You pay your expenses, of course, I'll pay mine. When you get back, you can devise a real plan for implementation with your new contacts, and help real Africans understand the new paradigm. Or you can go on reddit and circle jerk about bitcoin some more.

05-24-2015, 11:09 PM	#61
ReggieDurango Confirmed User Industry Role: Join Date: Nov 2007 Location: California Posts: 4,748	I would buy some bitcoin, if I could figure out how the fuck to do it. And I'm not some peasant in Africa!