Is Bitcoin the Next Big Thing?

[RobM]

Sorry what do you mean 'serious'? I used to trade it along with other cryptocurrencies - still was nowhere near as lucrative as the forex market. But no I admit I don't follow it and I have got rid of all the crypto currencies I had when I realised that trading them was only earning what you'd get doing a full time job. I just don't buy into the hype peddled around on youtube and the like - see it for what it is.

 

[RobM]

You can't buy groceries here for bitcoin. This can't be the only country in the world. Also don't know how that would work in a power cut

 

[Murray]

Sorry what do you mean 'serious'? .

Just the blockchain technology and the benefits of it as money vs currencies issued by the banks

For me that's whats special about it all rather than a specific crypto currency

 

[Admin]

Another thing to note is that most of it's volatility comes from people trading it using *real* money to get it in the first place and, ultimately, turning it back into *real* money. People don't want the bitcoin they want the market value for it in cash which can be used to pay for their groceries.

You sound a bit out of date with that . My bitcoins are held by a company who have issued me a debit card. It converts my bitcoin on the fly to buy whatever i want in whatever fiat currency it is in. Appreciating 'real money'.

 

[RobM]

Ah must be out of date So tell me again why you converted your bitcoins to dollars? Also a lot of comments assume that the whole world is able to use this technology because the commenter can. Interestingly enough everyone selling their domains are not asking for bitcoins... I'm suprised in this modern day and age.

 

[aZooZa]

I'm sure everyone in this discussion could make more money from domains anyway.

 

[Admin]

You can't buy groceries here for bitcoin. This can't be the only country in the world. Also don't know how that would work in a power cut

Yes I can , the maltese shop never sees the bitcoin, they get their currency.

 

[RobM]

Not one place that I bought christmas presents for the kids from accepts bitcoins. My breakfast was bought from a supermarket that doesn't accept bitcoins. My veg was bought from the greengrocer who doesn't accept bitcoins. I'm typing this on a computer bought from a shop that doesn't accept bitcoins. I don't pay people in bitcoins - if I did they would walk out. Still not seeing the use. Never mind I'll buy some domains.... oh the sellers don't want bitcoins. I could go on but I think you get my point. You can use euros for all of these things.

 

[Admin]

Ah must be out of date So tell me again why you converted your bitcoins to dollars? Also a lot of comments assume that the whole world is able to use this technology because the commenter can. Interestingly enough everyone selling their domains are not asking for bitcoins... I'm suprised in this modern day and age.

Eh? It's like share dealing, cfds, etc... its not a profit until its banked. I'm mitigating my exposure by spending my bitcoins everyday and by converting them to USD as bitcoin appreciates. I plan to buy them back if the value falls. Sadly, I started too soon (700 area), converted another 10btc to usd today ...again probably too soon buy cant get all the tops and bottoms.

 

[RobM]

Ah I wouldn't let Lazarus hear you say that You're changing your illusionary currency for another illusionary currency! Madness... it's madness I tell you! lol

 

[Admin]

Not one place that I bought christmas presents for the kids from accepts bitcoins. My breakfast was bought from a supermarket that doesn't accept bitcoins. My veg was bought from the greengrocer who doesn't accept bitcoins. I'm typing this on a computer bought from a shop that doesn't accept bitcoins. I don't pay people in bitcoins - if I did they would walk out. Still not seeing the use. Never mind I'll buy some domains.... oh the sellers don't want bitcoins. I could go on but I think you get my point. You can use euros for all of these things.

Are you seriously not understanding this? They don't accept bitcoins and don't need to. They accept VISA.

 

[RobM]

They don't accept bitcoins. Did I not make that obvious in my post? My bad.

 

[Admin]

They don't accept bitcoins. Did I not make that obvious in my post? My bad.

I can't work out if you are being deliberately obtuse or don't get what I'm saying. I spend bitcoins in all those places you refer to because the bitcoins are converted to 'money' for the vendor on the fly the moment they process my visa bitcoin card.

 

[Admin]

And IMO this is one of the key things that is going to make bitcoin mainstream. https://xapo.com/card/ - Its no longer difficult to spend bitcoins, you dont need vendors to accept bitcoin and converting your bitcoins back to cash is now as simple as putting your card in the hole in the wall.

 

[RobM]

Ah I see what you're saying. Not that my greengrocer accepts visa cards but anyway I get your point. So I guess we won't have to watch anymore videos about how bitcoins are better than a fiat currency. I mean it's not as if people supplying them are ever converting them to a fiat currency.... oh hang on.

 

[lazarus]

Gold is King. lets agree on that

 

[Admin]

Gold is King. lets agree on that

OK, and what about 'bitcoin is the new gold'. .

 

[domainseller200]

Lego is king actually

 

[RobM]

I was going to get a xapo card but after going through all their signup, verification, getting told to turn adblock off, then an error I gave up. Seems they don't allow people in US to use it either which concerns me a little bit. I'll stick with cash.

 

[RobM]

I think giving my wife 'bitcoin' earrings wouldn't go down very well. She still prefers gold.