Official CryptoCurrency Thread (Bitcoin, Litecoin, Ethereum & More)

[无名的]

My mom is a banker and she told me I wouldn't believe the amount of money businesses/sellers lose because of chargebacks alone. Bitcoin solves this problem and many others, the amount of people that would that would rush to adopt a payment service that prevents chargebacks . I'm not picking sides I'm just sharing facts.

Just facts, huh? So it's a fact, yet there isn't a rush to adopt the system? Hmmm...

 

[TRFG]

did you get the black one?

I'm furious they came out with this black version after I bought mine.

Material used is shyt and get dirtied pretty easily.

It does its job find though. Did you install their new Android Wallet App?

I got the white one for $80 bucks (saved $39 off the original price) from eBay so I can't complain about the color.

I don't have an Droid yet so I can't test it.

I plan on keeping it in this to clean it clean and safe.

 

[TRFG]

Just facts, huh? So it's a fact, yet there isn't a rush to adopt the system? Hmmm...

It's new technology, the Banking sector isn't rushing to adopt anything new that could be possibly exploited. I just don't get how people say it's a threat to Banks since they make most of their money from loans.

 

[Kritic]

BTC had its 15 minutes on the mainstream stage and it failed. You won't get another exponential bubble. Ever.

bookmarked.

 

[Kritic]

bookmarked.

 

[heisenburrr]

Just facts, huh? So it's a fact, yet there isn't a rush to adopt the system? Hmmm...

In 1995 it was a fact that Email was better than snail mail. Yet because there was only a couple million people using and having access to it, there was not a rush to adopt the system.

Why use this email thing which takes quite a cumbersome process to access and can only reach certain people ?

"Snail mail is perfectly fine"

Then, there was a tipping point. Infrastructures built around this email network had grown enough to make it seamless to use and readily available to anyone. People also eventually became educated about its clear advantages and superiority over regular means of communications.

Bitcoin is at this stage right now, building the infrastructure and growing the network.

The promises of Bitcoin's payment system can only be truly realized when it is adopted on a global scale and becomes truly peer-to-peer.

Meanwhile, technologists will accomodate it to the legacy banking system and Bitcoin's attributes will remained handicapped as long as it is attached to this system.

But that is OK because the payment system is only one part of Bitcoin's value.

Bitcoin is fundamentally money.

Money has three attributes : store of value, means of exchange and unit of account.

If we are being honest. Any news of merchant/consumer adoption and use of Bitcoin as a currency is not relevant at this stage.

The Bitcoin economy has gotten to where it is at right now in majority because of its value as a speculative store-of-value with unique properties that likens it to Gold as an edge to the fiat economy. This is also what will continue to drive it going forward.

People buying it and holding it.

 

[heisenburrr]

Serious question @Ill if you think Bitcoin is going down with no stop it sight.

Why are you not shorting it?

 

[TRFG]

Serious question @Ill if you think Bitcoin is going down with no stop it sight.

Why are you not shorting it?

Because he's a smart investor He doesn't like people to know his hand

 

[Lurka Ternt Posta]

My mom is a banker and she told me I wouldn't believe the amount of money businesses/sellers lose because of chargebacks alone. Bitcoin solves this problem and many others, the amount of people that would that would rush to adopt a payment service that prevents chargebacks . I'm not picking sides I'm just sharing facts.

Yeah, I'm sure every non-business owner will be kicking down doors to adopt a payment service that strips away all consumer protection.

 

[TRFG]

Yeah, I'm sure every non-business owner will be kicking down doors to adopt a payment service that strips away all consumer protection.

What protection does cash or a check give, sir?

 

[heisenburrr]

Yeah, I'm sure every non-business owner will be kicking down doors to adopt a payment service that strips away all consumer protection.

you think businesses give a fukk about consumer protection in the sense you are suggesting?

they have been ROBBED for their whole existence by fraud issues & chargebacks.

legitimate business with appropriate consumer service will remain in business and at worst be subject to legal charges if they fail to provide adequate response to consumer claims. scammy business will run out of business

consumer protection like.... credit cards right?

http://www.marketwatch.com/story/yawn-who-cares-about-home-depots-data-breach-2014-09-24

50 millions of consumer' personal identities and information stolen.

Not one fukk given

 

[Lurka Ternt Posta]

What protection does cash or a check give, sir?

So you wanna compare Bitcoin to cash or checks? Or to credit cards?

 

[heisenburrr]

So you wanna compare Bitcoin to cash or checks? Or to credit cards?

It compares better to cash because of its properties but its digital nature make it an ideal replacement to credit cards as well

 

[TRFG]

So you wanna compare Bitcoin to cash or checks? Or to credit cards?

I just used it as a comparison for that situation you brought up about consumer protection.

 

[Kritic]

Because I don't believe I am wrong, no matter the price.

Yes I may have been wrong to jump in at the top in December. Sure, in hindsight I could've waited to get in.

Fact is, unless there are any changes to the fundamentals, I will keep buying, even if it goes down to 100$

Why? Because of risk & reward. Bitcoin is one of the rare binary outcome investment in the market today. I risk to lose 100% of my investement, but if I'm right, I stand to grow it by 1000%.

There are a number of fundamentals that explain the market's dynamics at the moment.

You see the price going down.

I see the number of daily transactions growing, the hashrate of the network growing exponentially (this means literally millions of dollars invested into mining gear), merchant adoption speeding up, ATMs popping all over the world, close to 200 millions in VC this year alone, established entrepreneurs and some of the smartest people in finance, technology, abandoning their career for new Bitcoin ventures.

I see governments around the world scared shytless of the potential of Bitcoin. Some outright banning it, others putting out glowing report about the consequences of this new technology.

No amount of bad news has justified the down trend we are in. It simply the market in action, shaking weak hands out of their coins while those who can see the bigger picture accumulate at lower prices.

The infrastructure continues to grow at a steady rate. Again, the price correction following a bubble is perfectly normal. 2 bubbles ago the price went from a high of 32$ to 1.50$. Should people have followed the advice you are giving me now and waited it out? In the grand scheme of things, does it matter if they bought at 32$, 15$ or 1$. Sure they may have gotten more bang for their bucks but considering the growth we have experienced, it makes little difference.

one argument against this is sony's betamax.

they're selling quite high til today