Bitcoin

[kazbalah]

I have been playing around with bitcoin and other crypto currencies for the last few months and thought i might post up a quick thread here letting you guys know about this.

Most people, myself included - When they first look at bitcoin, the reaction is "stupid internet money for geeks"

I had this reaction.

But like many, after 6 months or a year i gave it a second look, a more in depth look, and its very exciting indeed.

Bitcoin is not just money for the internet. It is a new internet.

The internet of money just got invented, and we are here to get in on the ground floor.

Its a platform on which secure transactions, applications and tools can be made. I believe their are currently around 100,000 developers working on this project, making tools, other currencies, trades and exchanges and more, its exploding.

Currently western union is raking in about 70 BILLION per year in fees, mostly collected from poor people sending money back to their home country. 70 billion from the poorest people in the world...

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.

[Penny24Seven]

You just missed the bus by a couple of years. This same post was made too.

[Markul]

I heard about this thing called oil... get in on the ground floor now, before it takes off

[CPA-Rush]

nice i like bitcoin ....♥

[ContentPimp]

Every day i read how people are losing bitcoins....

[BlackCrayon]

i'm not sure what the future holds for bitcoin but it seems to be fading away a bit for many. the people who made out best were those who bought when it was 5-20 bucks per coin and sold when it was around 1000 bucks per.

[ContentPimp]

about keeping 10,100,1000...bitcoins on usb....

Daughter 7 yrs old:What is dads usb doing here in the back of his drawer???
I can fill this usb with my favorite songs and cartoons...yees ill put whole series of MY LITTLE PONY on it!
DELETE ALL click!!!

[darksoul]

Originally Posted by ContentPimp

about keeping 10,100,1000...bitcoins on usb....

Daughter 7 yrs old:What is dads usb doing here in the back of his drawer???
I can fill this usb with my favorite songs and cartoons...yees ill put whole series of MY LITTLE PONY on it!
DELETE ALL click!!!

If you'd be stupid enough to not have a backup you deserve it.
There are plenty of cold wallets (checkout trezor for example) which makes it hard
for you to lose the coins.
The stories you read happen because some people don't bother
understanding how bitcoin works and can't be bothered to take proper backups.

[dirtymind]

you are late to the party, the boom is over and soon it is just another currency with its up and downs. Only the big boys make money of it.

[Jel]

I felt the same 6 - 8 months ago or so, then I realised I'd missed the boat completely.

[ilnjscb]

You're posting what it could be in a perfect world - like communism, give what you can take what you need. Sounds good, right?

In reality BTC has been plagued by scams and has the fundamental problem of having no backing or intrinsic value. Like beads at Mardi Gras, that makes it vulnerable to volatility once the few people who control the bulk of the currency start selling.

Also, in the example above, the "peasant farmer" in Africa (Africa is a big continent, with over 20 very different countries, and not too many peasant farmers) doesn't have access to BTC technology.

Chinese were really driving BTC, illicit buying like silk road, etc. Too few people control the portfolio. People are realizing that, far from the governments "not understanding BTC, man" they understand it very well and can track it just fine.

Digital currency is great - an idea that is ready to go - but the implementation is not ideal yet, based on what I have seen. I'm sure the next phase is being developed now.

[Barry-xlovecam]

World peasants --LOL
What is the peasant going to do? Call the internet on the tribal cell phone?

Bitcoin is/was a geek currency that is becoming an elitist global trading ''currency.''

Bitcoin MAY cutout the card associations and current global banking sector from their currency exchange profits. Lowering global trading costs is a good thing

[Google Expert]

Originally Posted by kazbalah

Bitcoin is not just money for the internet. It is a new internet.

Bitcoins exist only for dark marketplaces (SilkRoad, Evolution, Aghora, BlackBank) goods: drugs, weapons, CC numbers, ids/papers.

When the Feds nail one of the dark markets, Bitcoin price drops right away.

[danielpbarron]

Originally Posted by ilnjscb

In reality BTC has been plagued by scams and has the fundamental problem of having no backing or intrinsic value. Like beads at Mardi Gras, that makes it vulnerable to volatility once the few people who control the bulk of the currency start selling.

They do have intrinsic value and that's why you can't get them for cheap. The digital currency you wish it to be would have no intrinsic value.((that is, some sort of state controlled token allegedly backed by some asset.)) Your currency would only have value for as long as you can trust the organization managing it, whereas bitcoin's value is independent of any trust you might or might not have for any particular organization.

Originally Posted by ilnjscb

Also, in the example above, the "peasant farmer" in Africa (Africa is a big continent, with over 20 very different countries, and not too many peasant farmers) doesn't have access to BTC technology.

On this point, you are correct.

Originally Posted by ilnjscb

Chinese were really driving BTC, illicit buying like silk road, etc. Too few people control the portfolio. People are realizing that, far from the governments "not understanding BTC, man" they understand it very well and can track it just fine.

You are retarded. Have your handlers give you a better briefing. The Silk Road was named after the thing in China, but they are not related. Most of the online drug dealing took place in the U.S. As for tracking bitcoin: good luck.

[DAMNMAN]

Bitcoin in 2015 is kinda like the Internet in 1995. People keep telling you that you need to get online and start a web site and you keep going WTF for? Now it's 20 years later and you need a web site for any and all business. There's Webfather who bought every good domain name he could get his hands on, (He's rich) then there's the guy who didn't think he needed an internet connection at all. (he's wishing he got in on it)
The BTC technology is that good, it's that disruptive, it's gonna be a game changer.

[BlackCrayon]

Originally Posted by DAMNMAN

Bitcoin in 2015 is kinda like the Internet in 1995. People keep telling you that you need to get online and start a web site and you keep going WTF for? Now it's 20 years later and you need a web site for any and all business. There's Webfather who bought every good domain name he could get his hands on, (He's rich) then there's the guy who didn't think he needed an internet connection at all. (he's wishing he got in on it)
The BTC technology is that good, it's that disruptive, it's gonna be a game changer.

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.

[lezinterracial]

As the blockchain gets bigger, And less people are downloading the whole chain (ie using coinbase and mulitbit). Is it possible for someone to take over the blockchain?

[testpie]

I speculated on this and turned £100 into £30.

Like turning water into wi... piss.

[danielpbarron]

Originally Posted by darksoul

If you'd be stupid enough to not have a backup you deserve it.
There are plenty of cold wallets (checkout trezor for example) which makes it hard
for you to lose the coins.

Please don't. Rather, do this.

Originally Posted by lezinterracial

As the blockchain gets bigger, And less people are downloading the whole chain (ie using coinbase and mulitbit). Is it possible for someone to take over the blockchain?

Yes, such a thing is possible if the number of full nodes gets small enough, which is the intended outcome of suggestions like increasing the maximum block size.

[ilnjscb]

Originally Posted by danielpbarron

You are retarded. Have your handlers give you a better briefing. The Silk Road was named after the thing in China, but they are not related. Most of the online drug dealing took place in the U.S. As for tracking bitcoin: good luck.

LOL The only handlers I have are chicks who are "handling" my nuts, son!

When you get older and learn to read english, you'll see that separating two phrases with a comma can mean they are, indeed, separate.

I don't have time to spell this out in dick-trollese so you can read it, but let me make it plain in hopes someone will read it to you

Point 1 - Capital inflows from China were instrumental in the rise in price of bitcoin. Those have been reduced.

Point 2 - news of illicit transactions involving bitcoin has reached the masses lately more than positive news. Because of negativity bias BTC is depressed on sentiment.

That brings me to another point you've illustrated very well; the losers who evangelize BTC by trying to insult others who question it rather than engaging them intelligently. I know in your case the latter would be impossible, but others of your ilk might turn around their failures some day.

[DAMNMAN]

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.

May be.... But the technology is gonna be there in one form or another. Bitcoin has a huge head start.

[DAMNMAN]

Originally Posted by testpie

I speculated on this and turned £100 into £30.

Like turning water into wi... piss.

Very many investors sell at the wrong time and loose their investment. The jury is still out on bitcoin. I'm not selling any of mine for many years.

[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.

[kazbalah]

Originally Posted by DAMNMAN

Very many investors sell at the wrong time and loose their investment. The jury is still out on bitcoin. I'm not selling any of mine for many years.

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.

[kazbalah]

Originally Posted by lezinterracial

As the blockchain gets bigger, And less people are downloading the whole chain (ie using coinbase and mulitbit). Is it possible for someone to take over the blockchain?

It is, its called a 51% attack. If you have 51% or more of the network, you can fake transactions.

Currently i am told it would cost around 500 million in hardware to do this. And if you had 500 million in mining hardware, it would be more profitable to just mine and earn bitcoin that way.

[Barry-xlovecam]

Fist of all my geeky pseudo elitist friend, you don't even know what a peasant is : https://www.google.com/search?q=peas...m=50&newwindow
Or, perhaps by peasant you meant the more contemporary condescending connotation? Urban Dictionary: Peasant

Either way, city dwellers in Nigeria, a country that has one of highest standards of living in sub-Saharan Africa are hardly peasants.

I could give a rats-ass about the ''printing,'' now referred to as mining of Bitcoin -- I am not interested in buying ''printing presses'' to ''print'' currency -- I am in the business of global trade and not numismatics. A currency is a medium of exchange -- a storehouse of value to an end user. Currencies are not investments but can be used a hedge in future transactions.

Only a fool buys the Bitcoin song and dance. A digital currency, like any other currency, is only worth what it will buy. Currencies are all fiat and not redeemable today INCLUDING Bitcoin! Bitcoin cannot be surrendered to any central issuer for gold or any other real "money". Bitcoin is not backed by any nation's assets either. There is no sovereign land of ''Bitcoin''. Bitcoin are a theoretical 'scrip' see: scrip - definition of scrip by The Free Dictionary Bitcoin is a form of script, embellished with the story of blockchains backing and limiting Bitcoin issuance -- little more than the rules of the video game "World of Warcraft." It's interesting, the crypto aspect, based on CBC https://www.google.com/search?q=cbc+encryption+bitcoin and that is old as dirt, see: CBC-MAC - Wikipedia, the free encyclopedia . Like I say, it's just a song and dance -- and CBC ciphers are hacked over time and updated. So, it is no end all, be all -- but transitional.

There may be a digital currency of some type in the future but it will not be the alt coins of today -- it may be some ''World Bank'' issued common currency that is agreed to by sovereign states, never printed physically but issued digitally by some agreed formula. You are naive to think governments will surrender control of money to some ''peoples currency'' -- not going to happen.

[kazbalah]

Originally Posted by Barry-xlovecam

Fist of all my geeky pseudo elitist friend, you don't even know what a peasant is : https://www.google.com/search?q=peas...m=50&newwindow
Or, perhaps by peasant you meant the more contemporary condescending connotation? Urban Dictionary: Peasant

Either way, city dwellers in Nigeria, a country that has one of highest standards of living in sub-Saharan Africa are hardly peasants.

I could give a rats-ass about the ''printing,'' now referred to as mining of Bitcoin -- I am not interested in buying ''printing presses'' to ''print'' currency -- I am in the business of global trade and not numismatics. A currency is a medium of exchange -- a storehouse of value to an end user. Currencies are not investments but can be used a hedge in future transactions.

Only a fool buys the Bitcoin song and dance. A digital currency, like any other currency, is only worth what it will buy. Currencies are all fiat and not redeemable today INCLUDING Bitcoin! Bitcoin cannot be surrendered to any central issuer for gold or any other real "money". Bitcoin is not backed by any nation's assets either. There is no sovereign land of ''Bitcoin''. Bitcoin are a theoretical 'scrip' see: scrip - definition of scrip by The Free Dictionary Bitcoin is a form of script, embellished with the story of blockchains backing and limiting Bitcoin issuance -- little more than the rules of the video game "World of Warcraft." It's interesting, the crypto aspect, based on CBC https://www.google.com/search?q=cbc+encryption+bitcoin and that is old as dirt, see: CBC-MAC - Wikipedia, the free encyclopedia . Like I say, it's just a song and dance -- and CBC ciphers are hacked over time and updated. So, it is no end all, be all -- but transitional.

There may be a digital currency of some type in the future but it will not be the alt coins of today -- it may be some ''World Bank'' issued common currency that is agreed to by sovereign states, never printed physically but issued digitally by some agreed formula. You are naive to think governments will surrender control of money to some ''peoples currency'' -- not going to happen.

Have you actually used it before, seen all the things it can do, and will do in the future?

[kazbalah]

Here is an example of whats possible.

Today Titcoin price just doubled, my 300USD turned into 600.

Titcoin was worth about 100 Satoshi = 0.000000100

Now its 0.00000204

Titcoin is super cheap, i can see it being worth ALOT more.

Some other alt coins are worth this - 0.01223730

Do the maths.. 200 points up to 1.2 million - That's about 6000X return on investment.

And the investment is tiny, 1-5$ can be invested and a possible 100, 1000, 10000 or even 1 million times return. I have seen no other investment opportunity with tiny costs and massive potential ROI.

Thats playing around with alt coins, just one aspect of the bitcoin ecosystem.

[Google Expert]

Originally Posted by kazbalah

Here is an example of whats possible.

Today Titcoin price just doubled, my 300USD turned into 600.

Titcoin was worth about 100 Satoshi = 0.000000100

Now its 0.00000204

Titcoin is super cheap, i can see it being worth ALOT more.

Some other alt coins are worth this - 0.01223730

Do the maths.. 200 points up to 1.2 million - That's about 6000X return on investment.

And the investment is tiny, 1-5$ can be invested and a possible 100, 1000, 10000 or even 1 million times return. I have seen no other investment opportunity with tiny costs and massive potential ROI.

Thats playing around with alt coins, just one aspect of the bitcoin ecosystem.

[Paul&John]

Originally Posted by kazbalah

Here is an example of whats possible.

Today Titcoin price just doubled, my 300USD turned into 600.

Titcoin was worth about 100 Satoshi = 0.000000100

Now its 0.00000204

Titcoin is super cheap, i can see it being worth ALOT more.

Some other alt coins are worth this - 0.01223730

Do the maths.. 200 points up to 1.2 million - That's about 6000X return on investment.

And the investment is tiny, 1-5$ can be invested and a possible 100, 1000, 10000 or even 1 million times return. I have seen no other investment opportunity with tiny costs and massive potential ROI.

Thats playing around with alt coins, just one aspect of the bitcoin ecosystem.

OR it could easily worth 50%-90% less the next day...

[seeandsee]

and next day your bitcoins could worth 1$ do you want to gamble?

[darksoul]

Its not like gfy was inline with the new stuff. All I've heard from this board was bitching about tgps, mgps, tubes, torrents, .xxx and whatnot.
And look where we are now ? All those things were adopted and gfy has learnt absolutely nothing. Still full of bitter people trying to add cents together for the next beer.

[Barry-xlovecam]

Originally Posted by kazbalah

Have you actually used it before, seen all the things it can do, and will do in the future?

Our website accepts Bitcoin and our customers do not pay in Bitcoin -- based on thousands of transactions a month. Bitcoin has no future in the consumer market -- it's too complicated and confusing for consumers.

Bitcoin is just another dead or little used alternative payment method. Go see how many "peasants" you can get to sign-on to currency they don't understand ... How many shopkeepers in the small villages and even merchants in larger cities you can get to sign-on to accept Bitcoin. There is no real interest on this level and why should there be? You would have better luck selling a bag of stones.

Micro-banking and methods like Apple pay have a lot more mainstream support and a future in the developing world. Bitcoin is a dead end for consumer adoption. Bitcoin is on the down side of the bell curve, now stabilized by some big money players on Wall Street for speculation. I cannot declare Bitcoin on a death watch only for that reason.

KISS (Keep it simple stupid).

That answer your question?

There may be a digital currency of some type in the future but it will not be the alt coins of today -- it may be some ''World Bank'' issued common currency that is agreed to by sovereign states, never printed physically but issued digitally by some agreed formula. You are naive to think governments will surrender control of money to some ''peoples currency'' -- not going to happen.

Your fuzzy math is boring. How many of my customers have Bitcoin to spend? None or damn few. The only market is in alt coin miner's minds like the Gold Rush of 1849 (and others) the miners want to get rich -- the egalitarian speech is a joke and very transparent.

@darksole -- I am open to new ideas in transactions currencies -- without all of the Bitcoin and alt coin "drama'. "tgps, mgps, tubes, " have seen wide consumer adoptions (and defections to the newest trend) but they were simple for consumers to use. Cash money or credit/debit cards are easy to understand and use for consumers. More importantly, the benefits were immediate and obvious. Money (transaction currencies) are not flash-in-the-pan consumer marketing.

[ilnjscb]

Originally Posted by kazbalah

Have you actually used it before, seen all the things it can do, and will do in the future?

Originally Posted by Barry-xlovecam

Our website accepts Bitcoin and our customers do not pay in Bitcoin -- based on thousands of transactions a month. Bitcoin has no future in the consumer market -- it's too complicated and confusing for consumers.

Bitcoin is just another dead or little used alternative payment method. Go see how many "peasants" you can get to sign-on to currency they don't understand ... How many shopkeepers in the small villages and even merchants in larger cities you can get to sign-on to accept Bitcoin. There is no real interest on this level and why should there be? You would have better luck selling a bag of stones.

Micro-banking and methods like Apple pay have a lot more mainstream support and a future in the developing world. Bitcoin is a dead end for consumer adoption. Bitcoin is on the down side of the bell curve, now stabilized by some big money players on Wall Street for speculation. I cannot declare Bitcoin on a death watch only for that reason.

KISS (Keep it simple stupid).

Your fuzzy math is boring. How many of my customers have Bitcoin to spend? None or damn few. The only market is in alt coin miner's minds like the Gold Rush of 1849 (and others) the miners want to get rich .

Theory vs. Practice SMACKDOWN!!

[BitcoinConsultant]

A lot of people spend a lot of time debating bitcoin's benefits as a world-changing payment method, store of value, etc.

However, the real value of bitcoin is in it's use as a speculative asset. It's quite volatile, which makes it great for margin trading with 10x, 20x, or even 50x leverage. It can also be used for trading CFD's (which are otherwise not allowed for people in the U.S.), futures, options, forex, and much more.

Check out bitcoinfutures.co to see what I'm referring to.

[Barry-xlovecam]

^^ yep

[danielpbarron]

Originally Posted by ilnjscb

Point 2 - news of illicit transactions involving bitcoin has reached the masses lately more than positive news. Because of negativity bias BTC is depressed on sentiment.

The price is down because the code sucks; once it gets cleaned up, the price will be infinity many dollars.

Originally Posted by kazbalah

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?

And that's all that will ever be: imagination. The block size max is not going to be raised any time soon.

Originally Posted by kazbalah

It is, its called a 51% attack. If you have 51% or more of the network, you can fake transactions.

No. That's not what it's called. You are confusing mining with maintaining a full node. Most people do not mine; it's cost prohibitive. Most people can maintain a full node though, and these are the computers that make sure the miners aren't breaking any of the rules.

Originally Posted by Barry-xlovecam

Only a fool buys the Bitcoin song and dance. A digital currency, like any other currency, is only worth what it will buy. Currencies are all fiat and not redeemable today INCLUDING Bitcoin! Bitcoin cannot be surrendered to any central issuer for gold or any other real "money". Bitcoin is not backed by any nation's assets either. There is no sovereign land of ''Bitcoin''.

You can't trade your dollars in for gold either; in that regard, bitcoin is the same. Bitcoin needs no backing; it is the backing. You cannot counterfeit it; you cannot inflate it. Nobody can! And bitcoin is the sovereign, and it has a most serene republic.

Originally Posted by Barry-xlovecam

Our website accepts Bitcoin and our customers do not pay in Bitcoin -- based on thousands of transactions a month. Bitcoin has no future in the consumer market -- it's too complicated and confusing for consumers.

It's used to trade over seven million dollars worth of assets every month. I don't care if your stupid porn junkies can't figure it out. Bitcoin is a real serious thing; it's not meant to be easier to use than the traditional fiat methods. There will come a time when your bank card debits bitcoin rather than dollars, and you won't have to worry about how that works.

[kazbalah]

Originally Posted by seeandsee

and next day your bitcoins could worth 1$ do you want to gamble?

Exactly - I do want to gamble. I have put in the money i can afford to lose, if i lose it all i will have a big laugh and go oh well that one didn't work, like i have many times before.

But the possibility to earn 100,000 X ROI - If you can tell me another business opportunity like that, please tell me and i will invest there right now... someone actually tell me a SINGLE op like that? There isn't one.

I will make a simple point here. I guarantee you, the people who are bitching in this thread don't know shit about bitcoin, they have had a quick look at it, and dismissed it.

The people who are interested in it, are the people who have researched it well, simple.

As i said its not just a digital currency. Its a new architecture, a new business eco system. Try to comprehend that one guys, its a new internet..

[kazbalah]

Originally Posted by Barry-xlovecam

Our website accepts Bitcoin and our customers do not pay in Bitcoin -- based on thousands of transactions a month. Bitcoin has no future in the consumer market -- it's too complicated and confusing for consumers.

Bitcoin is just another dead or little used alternative payment method. Go see how many "peasants" you can get to sign-on to currency they don't understand ... How many shopkeepers in the small villages and even merchants in larger cities you can get to sign-on to accept Bitcoin. There is no real interest on this level and why should there be? You would have better luck selling a bag of stones.

Micro-banking and methods like Apple pay have a lot more mainstream support and a future in the developing world. Bitcoin is a dead end for consumer adoption. Bitcoin is on the down side of the bell curve, now stabilized by some big money players on Wall Street for speculation. I cannot declare Bitcoin on a death watch only for that reason.

KISS (Keep it simple stupid).

That answer your question?



Your fuzzy math is boring. How many of my customers have Bitcoin to spend? None or damn few. The only market is in alt coin miner's minds like the Gold Rush of 1849 (and others) the miners want to get rich -- the egalitarian speech is a joke and very transparent.

@darksole -- I am open to new ideas in transactions currencies -- without all of the Bitcoin and alt coin "drama'. "tgps, mgps, tubes, " have seen wide consumer adoptions (and defections to the newest trend) but they were simple for consumers to use. Cash money or credit/debit cards are easy to understand and use for consumers. More importantly, the benefits were immediate and obvious. Money (transaction currencies) are not flash-in-the-pan consumer marketing.

If you read what i said a bit better you might not try to make any of these points..

As mentioned in that African nation whichever one it was, 40% of the total economy is running of those phone credits. All someone needs to do, is built an app that can run on old phones and just text message bitcoin credits to each other. Or titscoins, cannabis coins, dogecoin or whatever they want. A simple text message to transfer funds.

Impossible with todays banking system.

What about game credits? I know some kids who pay 10$ for a map in a video game. Now their are crypto currencies built into games, an in world economy. Are you telling me people are NOT going to buy those, to upgrade weapons and maps?

Please bet me a large sum of money that no one will buy those up.

Once it becomes simplier for users, and more people keep adopting it the technology and platform will only grow.

When you keep mentioning bitcoin specifically.. what do you think about all the other software built on top? The 500 altcoins, the trading exchanges, games, gambling, shops? Are they all going to close down? Have you used any of these before?

Its certainly possible bitcoin won't be the dominant coin in the future, but crypto currencies and this technology underneath it is here to stay.

One more thing.. i just setup a small website selling porn clips, like clips4sale.com only using crypto currency. I am charging 7-15 cents per video. Now i can sell videos to people in India, China, Russia. No charge backs, no fees, instantly sent to my computer where it pops up with a window and says i have been paid.

No other system can do that, not even close.

[danielpbarron]

Originally Posted by kazbalah

No other system can do that, not even close.

Nothing that you described has anything to do with what is so revolutionary about bitcoin. It's a sound money and that's it. The whole "mass adoption in Africa" because cell phone app has nothing to do with bitcoin. Nobody is seriously running a full node on a phone. The same goes for your stupid video thing. It would be easier and less expensive to do anything other than cluttering up the block chain. That it appears to work now is a result of the fleeting subsidy afforded to early users due to blocks not being filled up, and at the expense of future full node maintainers. Enjoy it while it lasts, but don't base a business around it.

[kazbalah]

Originally Posted by danielpbarron

Nothing that you described has anything to do with what is so revolutionary about bitcoin. It's a sound money and that's it. The whole "mass adoption in Africa" because cell phone app has nothing to do with bitcoin. Nobody is seriously running a full node on a phone. The same goes for your stupid video thing. It would be easier and less expensive to do anything other than cluttering up the block chain. That it appears to work now is a result of the fleeting subsidy afforded to early users due to blocks not being filled up, and at the expense of future full node maintainers. Enjoy it while it lasts, but don't base a business around it.

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.

[kazbalah]

Originally Posted by darksoul

Its not like gfy was inline with the new stuff. All I've heard from this board was bitching about tgps, mgps, tubes, torrents, .xxx and whatnot.
And look where we are now ? All those things were adopted and gfy has learnt absolutely nothing. Still full of bitter people trying to add cents together for the next beer.

Thats a good point. Perhaps we can go back to TGPs.. i hear lightspeed is still making some sales lol..

[kazbalah]

Originally Posted by danielpbarron

Nothing that you described has anything to do with what is so revolutionary about bitcoin. It's a sound money and that's it. The whole "mass adoption in Africa" because cell phone app has nothing to do with bitcoin. Nobody is seriously running a full node on a phone. The same goes for your stupid video thing. It would be easier and less expensive to do anything other than cluttering up the block chain. That it appears to work now is a result of the fleeting subsidy afforded to early users due to blocks not being filled up, and at the expense of future full node maintainers. Enjoy it while it lasts, but don't base a business around it.

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.

[JFK]

Originally Posted by Markul

I heard about this thing called oil... get in on the ground floor now, before it takes off

Thanks for the tip !

[ownedbox]

been with bitcoin for awhile too and have invested on stellar as well. Some online merchants and even hosting companies actually do have bitcoin payment options.

[kazbalah]

Originally Posted by ownedbox

been with bitcoin for awhile too and have invested on stellar as well. Some online merchants and even hosting companies actually do have bitcoin payment options.

Every day new merchants accept it. Its simply an amazing technology. And i bet you 100 bucks the people bitching about it don't even know what it is.

They think, stupid internet money. I dont understand that, thats dumb! Your crazy!

I would like to see ONE person who has really researched it, and has TRUE knowledge of the system tell me its crap.

All the nay sayers here don't even know what bitcoin is or what it can do..

But hey isnt it better to stick your head in the sand when a new tech comes out, and then when everyone does it you can jump on the band wagon and feel safe. Its a bit late by then tho.

[testpie]

Originally Posted by DAMNMAN

Very many investors sell at the wrong time and loose their investment. The jury is still out on bitcoin. I'm not selling any of mine for many years.

Here's to hoping you're correct - it is still my £30, until I lose the Wallet's crypto-key...

Any day now, Gromit lad. Just got to wait a bit longer:

[Barry-xlovecam]

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



$50bbl now $60bbl up 20% in a few months

If you want to waste your time with consumer sales pie-in-the-sky with some alt coin (best known as Bitcoin) go ahead -- it's your time.

[ZeroHero]

bitcoin is illegal here ...

[mineistaken]

5-10% interest - sign me up, OP.