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Tulip bulbs! Got your tulip bulbs right here!

by Zarkonnen 11y ago

ojr 11y ago
tulips that can be transfer digitally anywhere in the world at a low fee...
- maheart 11y ago
  I'd like to also add: - There is no "Federal Reserve" type entity attempting to influence BitCoin (whether that's a good thing or not, is complicated...) - Privacy (with the help of Zerocoin)
- bduerst 11y ago
  Assuming the network isn't overloaded again, and that you don't care about refunds or insurance.
- Dylan16807 11y ago
  If you wanted to sell a tulip ownership certificate this century it would also be digitally anywhere in the world at a low fee...
  - ojr 11y ago
    Low just like Western Union and Moneygram got it ;)
exprx 11y ago
I sense unwarranted criticism here – it's not like the ups and downs of BitCoin are going to affect a major economy any time soon (or ever). It's more a good thing there's this new game speculators can play; even if someone games the system, it isn't going to affect anything of value (e.g. a company producing something of value). It's not like BitCoin is ever going to be a major currency, or a real currency, really. The distribution of it is even more skewed, and artificially so, than that of any real currency. (And no, it isn't analogous to early investors in a business.)
- necessity 11y ago
  Btc is as real a currency as it gets, I bought VPSs with it just like I have bought them by unsafer payment methods in the past (supplying credit card info). Although more common in the trading of digital commodities, you can buy physical goods such as clothes and pizza with it, depending where you live. It just doesn't enjoy widespread adoption outside the digital world yet.
  - berns 11y ago
    It isn't a currency, it's just another payment method. Your provider will exchange the bitcoins for a real currency to pay their employees and taxes.
    - necessity 11y ago
      https://en.wikipedia.org/wiki/Currency https://en.wikipedia.org/wiki/Currency https://en.wikipedia.org/wiki/Fiat_money https://en.wikipedia.org/wiki/Fiat_money
  - vectorpush 11y ago
    > I bought VPSs with it Wow! A VPS! Something that 99% of the population has no use for. How about paying rent, medical bills, utilities, phone bill, groceries, tuition, gas, car payment, car insurance, car maintenance, tolls, daycare, taxes... you know, the kind of things that real people actually care about. > just like I have bought them by unsafer payment methods in the past Bitcoin is by far the most unsafe method of payment for 99% of the population. Credit cards offer comprehensive fraud protection; bitcoin offers zero protection and zero recourse if your money is stolen or lost due to a crash/virus/hack/forgot to backup my wallet before formatting (and when this happens, the user is always blamed, duh, you should have bought a trezor!). With a credit card none of this happens, and if money is somehow stolen from your credit card, the card is quickly deactivated and the victim is fully reimbursed for any fraudulent charges. This straight up LIE about the safety of bitcoin relative to credit cards is infuriating.
    - 11y ago
peteretep 11y ago
I made an absolute killing on them last time, why not again?
- Natanael_L 11y ago
  Trading just for profits is no different from other kinds of gambling. Even though I like Bitcoin myself, I'm not the most risk-taking kind of person. The market price depends on the collective sentiment of every single trader, and no matter what I believe, I can't force them all to agree with me.
  - peteretep 11y ago
    You're spot on that it's gambling. My specific gamble last time was that I had an information advantage that others did not regarding Bitcoin. I sold up when that no longer felt true, and when the money had become enough that I couldn't afford to lose. My specific gamble this time is that there is a bubble, but barriers to entry to owning Bitcoin are high enough that it still has momentum. I can afford to lose my current stake, and will stay in while I continue to feel that way, and while I remain under the UK capital gains threshold.
  - TomGullen 11y ago
    > Trading just for profits is no different from other kinds of gambling I'd say this is absolutely false. Roulette is pure chance (and -EV at that). Trading currency/commodities is a bad idea for most people, however you can gain +EV edges with domain knowledge.

Tulip bulbs! Got your tulip bulbs right here!

ojr 11y ago

tulips that can be transfer digitally anywhere in the world at a low fee...

maheart 11y ago
I'd like to also add: - There is no "Federal Reserve" type entity attempting to influence BitCoin (whether that's a good thing or not, is complicated...) - Privacy (with the help of Zerocoin)
bduerst 11y ago
Assuming the network isn't overloaded again, and that you don't care about refunds or insurance.
Dylan16807 11y ago
If you wanted to sell a tulip ownership certificate this century it would also be digitally anywhere in the world at a low fee...
- ojr 11y ago
  Low just like Western Union and Moneygram got it ;)

exprx 11y ago

I sense unwarranted criticism here – it's not like the ups and downs of BitCoin are going to affect a major economy any time soon (or ever). It's more a good thing there's this new game speculators can play; even if someone games the system, it isn't going to affect anything of value (e.g. a company producing something of value). It's not like BitCoin is ever going to be a major currency, or a real currency, really. The distribution of it is even more skewed, and artificially so, than that of any real currency. (And no, it isn't analogous to early investors in a business.)

necessity 11y ago
Btc is as real a currency as it gets, I bought VPSs with it just like I have bought them by unsafer payment methods in the past (supplying credit card info). Although more common in the trading of digital commodities, you can buy physical goods such as clothes and pizza with it, depending where you live. It just doesn't enjoy widespread adoption outside the digital world yet.
- berns 11y ago
  It isn't a currency, it's just another payment method. Your provider will exchange the bitcoins for a real currency to pay their employees and taxes.
  - necessity 11y ago
    https://en.wikipedia.org/wiki/Currency https://en.wikipedia.org/wiki/Currency https://en.wikipedia.org/wiki/Fiat_money https://en.wikipedia.org/wiki/Fiat_money
- vectorpush 11y ago
  > I bought VPSs with it Wow! A VPS! Something that 99% of the population has no use for. How about paying rent, medical bills, utilities, phone bill, groceries, tuition, gas, car payment, car insurance, car maintenance, tolls, daycare, taxes... you know, the kind of things that real people actually care about. > just like I have bought them by unsafer payment methods in the past Bitcoin is by far the most unsafe method of payment for 99% of the population. Credit cards offer comprehensive fraud protection; bitcoin offers zero protection and zero recourse if your money is stolen or lost due to a crash/virus/hack/forgot to backup my wallet before formatting (and when this happens, the user is always blamed, duh, you should have bought a trezor!). With a credit card none of this happens, and if money is somehow stolen from your credit card, the card is quickly deactivated and the victim is fully reimbursed for any fraudulent charges. This straight up LIE about the safety of bitcoin relative to credit cards is infuriating.
  - 11y ago

peteretep 11y ago

I made an absolute killing on them last time, why not again?

Natanael_L 11y ago
Trading just for profits is no different from other kinds of gambling. Even though I like Bitcoin myself, I'm not the most risk-taking kind of person. The market price depends on the collective sentiment of every single trader, and no matter what I believe, I can't force them all to agree with me.
- peteretep 11y ago
  You're spot on that it's gambling. My specific gamble last time was that I had an information advantage that others did not regarding Bitcoin. I sold up when that no longer felt true, and when the money had become enough that I couldn't afford to lose. My specific gamble this time is that there is a bubble, but barriers to entry to owning Bitcoin are high enough that it still has momentum. I can afford to lose my current stake, and will stay in while I continue to feel that way, and while I remain under the UK capital gains threshold.
- TomGullen 11y ago
  > Trading just for profits is no different from other kinds of gambling I'd say this is absolutely false. Roulette is pure chance (and -EV at that). Trading currency/commodities is a bad idea for most people, however you can gain +EV edges with domain knowledge.