Bitcoins
#47
Re: Bitcoins
To be fair I do believe these things have a future but unless governments and banks find a way to control and profit from them they will only ever be an "underground" thing
#48
Re: Bitcoins
That said - if you want to buy illegal things, what's wrong with pricing stuff in USD and paypal/western union?
#49
Re: Bitcoins
Sure of course but it's still largely a question of trust/reputation/rating though regardless of the backing or your risk appetite (as so beautifully described when you buy shit in the dark). How would you compare them against for example a huge number of countries with a junk bond rating or a country that isn't using a pegged exchange rate.
Mostly my interest is in how they are going to shake up things, whether they survive or not isn't that important as they are opening up the possibilities for the future.
Consider me as a typical banking customer:
Mostly my interest is in how they are going to shake up things, whether they survive or not isn't that important as they are opening up the possibilities for the future.
Consider me as a typical banking customer:
- I have been inside in a bank perhaps once per year in the last five years
- My main bank account has now no retail outlets in Ireland
- I use my phone (or online) for most transactions.
- The new SEPA regulations will mean I can do payments in the euro zone immediately with low/zero cost.
- I use currency exchanges rather than banks for forex.
- I can use an ATM card any where in the world linked to my account to withdraw cash. I don't need a local account.
- Deposit interest rates are worthless.
- Due diligence for loans can be carried out by anyone with access to Experian or similar companies.
Last edited by weasel decentral; Dec 10th 2013 at 6:20 am.
#50
Lost in BE Cyberspace
Joined: Jul 2007
Posts: 13,553
Re: Bitcoins
The USD value of Bitcoin fell this morning - in five hours, the USD rose by 4.38% against it .......... that is the equivalent of 21 pct in a day........ compounded daily, that is equal to almost 280 pct in a week............ I imagine the Bitcoin Central Bank will intervene soon to support it........... oh, wait....... er...............
#51
Re: Bitcoins
The USD value of Bitcoin fell this morning - in five hours, the USD rose by 4.38% against it .......... that is the equivalent of 21 pct in a day........ compounded daily, that is equal to almost 280 pct in a week............ I imagine the Bitcoin Central Bank will intervene soon to support it........... oh, wait....... er...............
Not to query the logic of your maths but is it possible for something to fall by 280%?
Last edited by weasel decentral; Dec 10th 2013 at 10:49 am.
#52
Re: Bitcoins
He's obviously a banker, only they can have more than the total amount if anything several times over and still need a government bail out
#53
Lost in BE Cyberspace
Joined: Jul 2007
Posts: 13,553
Re: Bitcoins
Apparently, Bitcoin is now worth over USD 1000............ so - volatile then........
#54
Lost in BE Cyberspace
Joined: Jul 2007
Posts: 13,553
Re: Bitcoins
Anyway - let the respected FT have their say..............
#55
Re: Bitcoins
Great article on Bitcoins and why they are so important and game changing.
Not as an alternative currency, but as an entire and almost costs free payment system.
I recommend reading this if you are at all interested in Bitcoin
http://dealbook.nytimes.com/2014/01/...ype=blogs&_r=0
Not as an alternative currency, but as an entire and almost costs free payment system.
I recommend reading this if you are at all interested in Bitcoin
http://dealbook.nytimes.com/2014/01/...ype=blogs&_r=0
#56
Lost in BE Cyberspace
Joined: Jul 2007
Posts: 13,553
Re: Bitcoins
Great article on Bitcoins and why they are so important and game changing.
Not as an alternative currency, but as an entire and almost costs free payment system.
I recommend reading this if you are at all interested in Bitcoin
http://dealbook.nytimes.com/2014/01/...ype=blogs&_r=0
Not as an alternative currency, but as an entire and almost costs free payment system.
I recommend reading this if you are at all interested in Bitcoin
http://dealbook.nytimes.com/2014/01/...ype=blogs&_r=0
#57
Re: Bitcoins
Also the author of the article has quite a bit of experience in technology and money http://en.wikipedia.org/wiki/Marc_Andreessen
If I were Western Union and even Visa or Mastercard I would be quite worried on the implications of Bitcoin for their business.
Anyway - you obviously know much more about banking than I do - but I think only a fool will think Bitcoins are going to go away or are not going to disrupt many transactional processes
#58
Re: Bitcoins
Your source is, I believe, wrong on certain aspects that are answered in the previous article. It is not per se an alternative currency (or only a currency) it is the trusted payment system, the micro payments etc
Also the author of the article has quite a bit of experience in technology and money http://en.wikipedia.org/wiki/Marc_Andreessen
If I were Western Union and even Visa or Mastercard I would be quite worried on the implications of Bitcoin for their business.
Anyway - you obviously know much more about banking than I do - but I think only a fool will think Bitcoins are going to go away or are not going to disrupt many transactional processes
Also the author of the article has quite a bit of experience in technology and money http://en.wikipedia.org/wiki/Marc_Andreessen
If I were Western Union and even Visa or Mastercard I would be quite worried on the implications of Bitcoin for their business.
Anyway - you obviously know much more about banking than I do - but I think only a fool will think Bitcoins are going to go away or are not going to disrupt many transactional processes
#60
Re: Bitcoins
Your source is, I believe, wrong on certain aspects that are answered in the previous article. It is not per se an alternative currency (or only a currency) it is the trusted payment system, the micro payments etc
Also the author of the article has quite a bit of experience in technology and money http://en.wikipedia.org/wiki/Marc_Andreessen
If I were Western Union and even Visa or Mastercard I would be quite worried on the implications of Bitcoin for their business.
Anyway - you obviously know much more about banking than I do - but I think only a fool will think Bitcoins are going to go away or are not going to disrupt many transactional processes
Also the author of the article has quite a bit of experience in technology and money http://en.wikipedia.org/wiki/Marc_Andreessen
If I were Western Union and even Visa or Mastercard I would be quite worried on the implications of Bitcoin for their business.
Anyway - you obviously know much more about banking than I do - but I think only a fool will think Bitcoins are going to go away or are not going to disrupt many transactional processes
How dare techies come up with an alternative that's cuts them out
My current favorite the dogecoin just helped the Jamaican bobsled team pay for its trip to Sochi adn ironically was started as a complete joke.