What are your thoughts on BitCoin?

[Archbob]

But it's mostly used for drugs, otherwise people just use credit/debit cards.

Have you tried paying your credit card bills with bitcoins? What did they say when you tried?

 

[Zelig]

Have you tried paying your credit card bills with bitcoins? What did they say when you tried?

My credit card doesn't accept USD.

 

[Archbob]

My credit card doesn't accept USD.

Or CAD or whatever the currency of your country is. I can go into any store and buy things I need with cash. You can't with bitcoins. You can buy wordpress services and pizza from some shop in california and maybe some drugs, but thats about it.

 

[Zelig]

Or CAD or whatever the currency of your country is. I can go into any store and buy things I need with cash. You can't with bitcoins. You can buy wordpress services and pizza from some shop in california and maybe some drugs, but thats about it.

USD and bitcoin are equally not the currency of my country.

 

[Archbob]

USD and bitcoin are equally not the currency of my country.

You can still go to a bank and trade USD for the currency of your country. Why don't you go to your bank and try to trade Bitcoin for your country's currency.

Maybe if you get a major online retailer like Amazon to accept it, then it'll actually be worth something. I don't buy drugs, prostitutes, or any of those things that Bitcoin is usually used for.

The whole problem is that BitCoin is pure speculative value right now, there's no a whole lot of stuff that I can buy with it right now.

 

[shadowplay]

Most of places in Canada also accept USD.

Rubbish.

 

[Souron]

Precious metals are things which you can touch with your hands, which decreases the risk of your money being stolen or transactions being tracked, and the value of precious metals don't wildly swing around every day.

]How does being able to hold something in your hands make it harder to steal? Quite the opposite, one would think; thieves have hands too.

Not really. You can always sell metals.

Only in large denominations. So you'd sell them for fiat currency, then buy stuff. With bit cons you could just buy stuff. Or sell it and buy stuff.

 

[Archbob]

]How does being able to hold something in your hands make it harder to steal? Quite the opposite, one would think; thieves have hands too.

Only in large denominations. So you'd sell them for fiat currency, then buy stuff. With bit cons you could just buy stuff. Or sell it and buy stuff.

You can't sell it that easily, thats the whole point and the stuff you can buy is quite limited. I can't go to the grocery store and buy food with bitcoins, I can with cash.

How does being able to hold something in your hands make it harder to steal? Quite the opposite, one would think; thieves have hands too.

All they have to do is steal your laptop. That would look a little less suspicious than carrying many bars of gold out the door. No?

 

[Cutlass]

]
Only in large denominations. So you'd sell them for fiat currency, then buy stuff. With bit cons you could just buy stuff. Or sell it and buy stuff.

You can only buy a narrow range of things from a narrow range of sellers with bitcoin.

 

[Zelig]

You can still go to a bank and trade USD for the currency of your country. Why don't you go to your bank and try to trade Bitcoin for your country's currency.

I use exclusively online banks, on the whole they're about as good at trading USD into CAD as bitcoins into CAD.

Maybe if you get a major online retailer like Amazon to accept it, then it'll actually be worth something. I don't buy drugs, prostitutes, or any of those things that Bitcoin is usually used for.

Amazon.com doesn't accept CAD.

All they have to do is steal your laptop.

Not unless your laptop security habits suck.

 

[Archbob]

You can't store Bitcoins at a bank and then use those Bitcoins in online transactions at most places. You can't buy most things with Bitcoins the way you can when you have cash at the bank.
You know what I'm talking about, your just giving strawman examples. You can do alot more with the cash in your bank for transactions than you can with Bitcoins, which you can only buy mostly illegal stuff with it.

Honestly, if anyone stole your laptop, it wouldn't be hard for them to break into it.

What happens if I want to buy food, gas, a car, or other things from a convenient store near my location? You know, everyday things. Well, screw BitCoin, because its totally useless for that.

 

[Zelig]

You can't store Bitcoins at a bank and then use those Bitcoins in online transactions at most places.

I can't store Euros at a local bank either.

You can't buy most things with Bitcoins the way you can when you have cash at the bank.

We're not comparing Bitcoins to CAD, we're comparing it to any other currency.

You know what I'm talking about, your just giving strawman examples. You can do alot more with the cash in your bank for transactions than you can with Bitcoins, which you can only buy mostly illegal stuff with it.

You're giving strawmen examples. You can do a lot more stuff with bitcoins than with almost any other currency on the planet. And again, USD mostly buys illegal drugs.

Honestly, if anyone stole your laptop, it wouldn't be hard for them to break into it.

It would be approximately impossible.

What happens if I want to buy food, gas, a car, or other things from a convenient store near my location? You know, everyday things. Well, screw BitCoin, because its totally useless for that.

So is any other non-USD currency.

 

[Archbob]

I can't store Euros at a local bank either.

You can Exchange those Euros for CAD and then store it, takes about 5 minutes. If you tried to exchange bitcoins at your local bank for your currency to store it, they'd just laugh at you.

It would be approximately impossible.

I doubt it would be that hard for any computer expert.

So is any other non-USD currency.

I can just exchange it at my bank for USD and then go out and buy whatever I want. I can't exchange Bitcoins for anything.

You're giving strawmen examples. You can do a lot more stuff with bitcoins than with almost any other currency on the planet. And again, USD mostly buys illegal drugs.

See, your counterexample doesn't even make any sense because its not true. I'll just take it that your randomly trolling because you ran out of actual arguments.


As long as I have a legit currency(doesn't matter if its USD, CAD GBP, Francs, or whatever), I can go out and buy a car, or exchange whatever currency I have for USD and buy a car. I can do it at any local dealer. You can't do crap with Bitcoins if you want to buy a car.

 

[Zelig]

You can Exchange those Euros for CAD and then store it, takes about 5 minutes. If you tried to exchange bitcoins at your local bank for your currency to store it, they'd just laugh at you.

Well now you're mixing up arguments - I already told I only use online banks, they can do bitcoins just as easily as Lilangenies.

I doubt it would be that hard for any computer expert.

I'm a computer expert, you can trust me when I say it would be roughly impossible for anyone.

I can just exchange it at my bank for USD and then go out and buy whatever I want. I can't exchange Bitcoins for anything.

You can exchange bitcoins at a bank for USD.

See, your counterexample doesn't even make any sense because its not true. I'll just take it that your randomly trolling because you ran out of actual arguments.

What isn't true? Lots of big drug deals in Canada happen with USD cash because of the drug trade being international. If you're a legit enterprise you use a credit card or a bank transfer.

As long as I have a legit currency(doesn't matter if its USD, CAD GBP, Francs, or whatever), I can go out and buy a car, or exchange whatever currency I have for USD and buy a car. I can do it at any local dealer. You can't do crap with Bitcoins if you want to buy a car.

Sure, you exchange it for your local currency, same as if you have any other currency or herd of goats.

 

[Archbob]

You can exchange bitcoins at a bank for USD.
Sure, you exchange it for your local currency, same as if you have any other currency or herd of goats.

No, you really can't, that's why they have really low liquidity value. You can't convert a large amount of them at once whereas I can convert hundreds of thousands of dollar or whatever other currency.

There's isn't really a place anywhere you can sell a lot of Bitcoins for liquidity.

You won't be able to trade bitcoins at any legit federally insured bank.

 

[AlpsStranger]

There's absolutely no way I'm reading this whole thread ( got to about page 5 ) and I have no desire to start the "buttcoin/ronpaulfunbux/Dunning-Krugerrand" stuff again. But has anyone seen this?

http://bitgabe.com/

Granted, I've never dealt with bitcoins. I just thought it was neat.

 

[Zelig]

No, you really can't, that's why they have really low liquidity value. You can't convert a large amount of them at once whereas I can convert hundreds of thousands of dollar or whatever other currency.

There's isn't really a place anywhere you can sell a lot of Bitcoins for liquidity.

https://www.cavirtex.com/home

I don't know what your definition of "a lot" is, but a normal civilian can't trivially convert millions of dollars of Lilangenis to USD either.

 

[Archbob]

https://www.cavirtex.com/home

I don't know what your definition of "a lot" is, but a normal civilian can't trivially convert millions of dollars of Lilangenies to USD either.

You can always trade USD for CAD and the other way around at a commercial bank. You generally can trade a lot of any legit currency. Its not a problem. Lilangenies or whatever aren't legit currencies so they don't count. Bitcoin will continue to have little actual value to most people until retail stores or large online retailers like Amazon start accepting them(and before you go into that BS about how amazon doesn't accept Canadian dollars, you can just got to amazon.ca and they do indeed accept Canadian dollars, you can't buy anything off of any Amazon store with Bitcoins).

 

[Zelig]

You can always trade USD for CAD and the other way around at a commercial bank. You generally can trade a lot of any legit currency. Its not a problem. Lilangenies or whatever aren't legit currencies so they don't count. Bitcoin will continue to have little actual value to most people until retail stores or large online retailers like Amazon start accepting them(and before you go into that BS about how amazon doesn't accept Canadian dollars, you can just got to amazon.ca and they do indeed accept Canadian dollars, you can't buy anything off of any Amazon store with Bitcoins).

Lilangenis are issued by the government of Swaziland, so I dunno what your bar for "legit" is.

Bitcoins have more actual value to people in my country than 99% of currencies on the planet.

Amazon.ca has like 10% the selection of Amazon.com, there's certainly a bigger selection of stuff I can buy with bitcoins than I can buy on Amazon with CAD.

 

[Crezth]

https://www.cavirtex.com/home I don't know what your definition of "a lot" is, but a normal civilian can't trivially convert millions of dollars of Lilangenis to USD either.

So you say liliangenis lack liquidity then. I'm not sure how difficult this is to understand?

This is the state of bitcoins right now. It may defy all expectations and be awesome. Maybe. But right now it's just silly and smart money is better spent on other investments,