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How To Use Bitcoin – The Most Important Creation In The History Of Man

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Beelzebuddy said:
In somewhat related news, I've been exploring the surprisingly rocky terrain of actually selling a bitcoin. Not for a number with a $ next to it on someone else's site, to be eventually turned into more bitcoins, but for actual cash money. You know, these greenbacks everyone keeps telling me are going to be worthless once BTC takes off.

Mtgox isn't paying out right now, due to "backorders," and has a several month waiting period to boot.

Kraken claims it's paying out, but -oops!- turns out it's not yet licensed in "my area," which I shall nastily assume means "Earth."

BTC-E is probably paying immediately, given how much I had to dig to find mention of the 1.5% (min $150.00) "processing fee" for each such transaction.

Bitstamp is still in the process of verifying my account, and has been for several days. No word yet on hidden fee, if any.


Of course, these are only some of the big players. There's dozens of little bastards who claim to use PayPal, and FSM knows which of them may be expected to be honest vs reversing the PayPal transactions after the fact, which I've been lead to believe is A Thing.

[ETA] Of course, I'd appreciate any suggestions people have for exchanges/markets/whathaveyou that do actually run a clean shop. Keep in mind I'm trying to get money for bitcoins, not bitcoins for money. Experience in the latter is no indication of integrity during the former.
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Outstanding! Looks like you might have to exchange them for child porn or narcotics. Those transactions are always available!
 
mhaze said:
Fixing your statement is soooo easy...

It's almost as if a currency holding system could benefit from a central authority printing money until those holding that currency have worthless paper and no savings left.
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I don't get it? What did you hope to accomplish by "fixing" my words?
 
pantsorama said:
I don't get it? What did you hope to accomplish by "fixing" my words?
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Hmm...

Maybe to illustrate that the trusted intermediary, as well as the supplier and handler of fiat currency, with all of the benefits that he can provide in the abstract, in the real is subject to corruption and political pressure, and instead of being good, is bad.

But if somehow it offends you that I illustrate the alternative impact of your well conceived system of controls, it is because I find that alternative impact occurring and to be highly offensive.
 
mhaze said:
Maybe to illustrate that the trusted intermediary, as well as the supplier and handler of fiat currency, with all of the benefits that he can provide in the abstract, in the real is subject to corruption and political pressure, and instead of being good, is bad.
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In fact I don't have a problem with fiat currency, although I don't know if this is the place to have that debate.
 
ideogram said:
I don't know what you are trying to say by posting this link. Please explain.
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Sure. This called "facts", as opposed to the made up nonsense I countered by jhunter.

It's guidance from the Chinese government to banks and insurance companies on bitcoin.
 
mhaze said:
Sure. This called "facts", as opposed to the made up nonsense I countered by jhunter.

It's guidance from the Chinese government to banks and insurance companies on bitcoin.
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I admit my Chinese is not very good. Can you be more specific about how this document supports your position.
 
ideogram said:
In fact I don't have a problem with fiat currency, although I don't know if this is the place to have that debate.
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Yes, I understood that and no, this isn't the place; excepting that one that has an attitude regarding the matter, should recognize that others think differently, and may move toward precious metals or bitcoin, the new kid on the block, and that has implications.

And those implications are the subject of this thread.

I admit, it's a bit difficult watching this bitcoin craziness unfold in real time, and frankly, incorrect conclusions as to cause and effect, or unabashed speculation as to unethical motives and market manipulation, such as jhunter, remirol and wrs have been engaging in, would have to be forgiven since it will be totally forgotten in a day or two as the dynamics continue to unfold.
 
But you didn't illustrate anything. You just made an unsupported statement. And then assumed I was offended; for the record I am more baffled than anything, and not offended.
 
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ideogram said:
I admit my Chinese is not very good. Can you be more specific about how this document supports your position.
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http://www.coindesk.com/price-crashes-china-outlaws-bitcoin-financial-institutions/

The initial readings of the document and the headlines from that tended toward the sensational, and misunderstood key details. Read what coindesk says about the 300 point drop and it's cause.

Then look back at the speculation by jhunter about bitwhales manipulating price.

Pick which to believe.

Cheers!
 
mhaze said:
I admit, it's a bit difficult watching this bitcoin craziness unfold in real time, and frankly, incorrect conclusions as to cause and effect, or unabashed speculation as to unethical motives and market manipulation, such as jhunter, remirol and wrs have been engaging in, would have to be forgiven since it will be totally forgotten in a day or two as the dynamics continue to unfold.
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Do you have a background in finance? If so, surely you know markets are manipulated all the time.
 
mhaze said:
http://www.coindesk.com/price-crashes-china-outlaws-bitcoin-financial-institutions/The initial readings of the document and the headlines from that tended toward the sensational, and misunderstood key details. Read what coindesk says about the 300 point drop and it's cause.
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But if the Chinese government can cause the price of bitcoin to drop, my evaluation of bitcoin as an investment would depend on my evaluation of the future actions of the Chinese government, is that true?
 
My interpretation of the claim is that the policy statement is pushing the value of BTC down, while the bitwhales are trying to push it up.
 
mhaze said:
http://www.coindesk.com/price-crashes-china-outlaws-bitcoin-financial-institutions/

The initial readings of the document and the headlines from that tended toward the sensational, and misunderstood key details. Read what coindesk says about the 300 point drop and it's cause.

Then look back at the speculation by jhunter about bitwhales manipulating price.

Pick which to believe.
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Yeah, in other words, you have no idea which is the truth, but you know which hypothesis you don't want to believe.
 
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