|
Could Central Banks Dump Gold In Favor Of Bitcoin? "Volatile" 
Bastard Programmer from Hell 
If you can't read my code, try converting it here[^]
|
|
|
|
|
No they will not. It goes against their job description. Bitcoin will certainly have unforeseen consequences, but this wont be one of them.
My two bit-cents.
... such stuff as dreams are made on
|
|
|
|
|
I am seeing Bitcoin as a PayPal or AliPay competitor rather than a gold replacement.
|
|
|
|
|
Nothing like those two. Bit coin is an alternative currency, not a payment method.
And it is heading for disaster, on a massive scale.
|
|
|
|
|
If that is the case, then why are these companies accepting Bitcoin payment: Virgin Galactic, Overstock.com, TigerDirect, Dish Network, Expedia, Newegg, Directnic, Microsoft, Zynga, Starbucks, and Subway.
|
|
|
|
|
Nice job taking the first google result that showed up but I actually went to the microsoft store sight, put a laptop in the cart, went to checkout and they had 2 selections as form of payment. Visa and Paypal. Let me know how that 15,000 dollar footlong tastes. Most companies don't take it anymore because of the volatility of the bitcoin/us dollar exchange. I believe overstock might still take it. Expedia says if you don't book in 10 minutes they don't guarantee price. Sounds convenient to me. With 1,300+ there may be a couple winners, but more losers. Just like the dot com bubble.
|
|
|
|
|
If what is the case, Bitcoin NOT being like paypal (a way of paying using a mainstream currency) or bitcoin being about to implode?
Believe me, it is about to implode, big style. Ever heard of the tulip bulb bubble? Bitcoin just got to the frenzied public phase. It has months to last.
|
|
|
|
|
Munchies_Matt wrote: months
Let me bookmark that. 
I do not disagree that it is inflated but predictions of an immenent crash were made years and many magnitudes ago.
It "crashed 40%" in September.
And quadrupled after that, so exactly how do we define crash?
... such stuff as dreams are made on
|
|
|
|
|
jgakenhe wrote: If that is the case, then why are these companies accepting Bitcoin payment:
Presumably the same reason as to why companies (yes real companies) manage real estate in the game "Second Life".
Because they think they can make some money doing it.
Doesn't mean they expect it to replace anything.
|
|
|
|
|
I think there are a number of factors in play with crypto currency not least of which is FOMO - fear of missing out! It is a volatile market and there are way too many coins out there - over 1500 now with more coming - see icowatchlist.com[^]
As an aside, I have a friend who was paid 10 bitcoin for a job a few years back and no longer has any idea what he did with them!!!
Also, there was an article the other day about a guy that bought 25000 when they were a dollar a piece - now worth over 420 million!!!
And, finally, the guy that supposedly invented them, if it is a real person, may be the first trillionaire. Could Satoshi Nakamoto become the world's first trillionaire?[^]
|
|
|
|
|
They may want to protect their assets. Funny thing about tech, most people don't understand it. They just know it's new. The market loves new stuff to play with. People get bored. The same thing happened with the dot com bubble. The people that were smart enough to get in at a great time will hopefully be smart enough to get out or protect their assets before the market corrects itself (via a crash, etc.).
Jeremy Falcon
|
|
|
|
|
|
On the flip side, you could be paid in bitcoin today only to have the value drop 20% in the time it took you to sell (then there are the fees!)
|
|
|
|
|
|
Are bit coin stored on hard disks?
Caveat Emptor.
"Progress doesn't come from early risers – progress is made by lazy men looking for easier ways to do things." Lazarus Long
|
|
|
|
|
coins are such small value, why not bitgold, bitplatinum, or for something really volatile bitpotassium or a bit warmer bitplutonium. (The latter also self regulates hoarding.)
Signature ready for installation. Please Reboot now.
|
|
|
|
|
Depends on the owner. Most people either leave them on the exchange where hey bought them or transfer them to a wallet of some description.
[^]
|
|
|
|
|
They can be. There are bitcoin wallets which are containers for them and those wallets run as software on various types of hardware.
There are, of course, also bitcoin-dedicated hardware out there.
|
|
|
|
|
Yes. If it crashes, it's gone.
Bastard Programmer from Hell 
If you can't read my code, try converting it here[^]
|
|
|
|
|
|
"And they were engaged in religion. You could tell by the knives (it’s not murder if you do it for a god)"
(Small Gods)
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
|
|
|
|
|
|
jschell wrote: or stolen.
Yes, but that is not something new; that could happen to everything you call "property" 
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
|
|
|
|
|
Eddy Vluggen wrote: es, but that is not something new; that could happen to everything you call "property
Yes but it someone steals my credit card I am out, at most 50$, and for most credit cards not even that. And even the use might allow the police to find the thieves.
If they steal the flash drive with 1 million in bitcoins or steal it from the online holder it is gone unless the police can recover it. And spending it will not expose the thieves.
|
|
|
|
|
jschell wrote: Yes but it someone steals my credit card I am out, at most 50$, and for most credit cards not even that. And even the use might allow the police to find the thieves.
Unfair comparison; that's not money, that's someone else guaranteeing your payment
jschell wrote: If they steal the flash drive with 1 million in bitcoins or steal it from the online holder it is gone unless the police can recover it. And spending it will not expose the thieves.
That's more true for gold than for BC. Remember that gold does not have a public ledger known as a "blockchain".
Bastard Programmer from Hell
If you can't read my code, try converting it here[^]
|
|
|
|
General 
News 
Suggestion 
Question 
Bug 
Answer 
Joke 
Praise 
Rant 
Admin 
Submit an article or tip
