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

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psionl0 said:
You can use a different word to describe dropping to $150 and possibly never going above $500 again if you like but I don't think I have misunderstood you.
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It was $150 a few months ago, where it is now is fantasy.
 
Belz... said:
Ok, then.

Still, I don't see how this answers my post, in which I said that some of us think that volatility is a bad thing.
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I wasn't denying your comments about volatility - just reminding you that I was discussing wrs's claim. I guess I can be too subtle for my own good sometimes.
 
psionl0 said:
I wasn't denying your comments about volatility - just reminding you that I was discussing wrs's claim. I guess I can be too subtle for my own good sometimes.
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Well considering that people aren't mind-readers can be good in a discussion, even if we all sometimes assume that we're clear as crystal.
 
Fudbucker said:
I'm confused. Why would someone like me, who only makes legal purchases, ever use Bitcoin instead of my credit card? Credit cards add what, 2% to the price? And you get quite a few consumer protections for that 2%. You can dispute charges, recover from identity theft, buy stuff you can't currently afford, losing your card isn't the end of the world...

I don't see how Bitcoin improves any of that. I want an intermediary between me and my purchases, and I'll gladly pay a couple percentage points for it. Well, not gladly, but you see my point.
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CC companies track your purchases. The whole point of bitcoin is to get rid of the central authority between you and your purchases. Some people value privacy. Maybe you want to buy some sextoys or porn or anti-government literature. CC companies also often block certain legal online purchases like online gambling.
 
Fudbucker said:
I'm confused. Why would someone like me, who only makes legal purchases, ever use Bitcoin instead of my credit card? Credit cards add what, 2% to the price? And you get quite a few consumer protections for that 2%. You can dispute charges, recover from identity theft, buy stuff you can't currently afford, losing your card isn't the end of the world...

I don't see how Bitcoin improves any of that. I want an intermediary between me and my purchases, and I'll gladly pay a couple percentage points for it. Well, not gladly, but you see my point.
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Escrow services are commonly available for bitcoin transactions. Not at the outrageous 'couple of percentage points' you grudgingly admit are required with cc, of course.

Reasons?

Maybe you want to buy something from a guy in China for $10 that regularly costs $60 here (but comes from China). That guy wants you to pay in bitcoin because his profit shoots up on a bitcoin transaction vs regular cc/paypal.

Maybe you want to do transactions outside of the 78 countries that paypal can be accepted in.

Maybe you are dealing with a guy in a third world country that wants bitcoin because paypal and mc/visa are processed at the 'official exchange rate' which is a total ripoff.

Maybe you found that you could buy Hulu+ for <10 USD for a whole year using bitcoin but the price is way, way higher with other forms of payment, so what you gonna do?

Maybe you found that you could buy Starbucks cards on ebay for about 80% of card value, but using bitcoin the auction sites offer then for 50-70% of face value.

Then again, maybe you just sick and tired of giving out your cc and personal info to all those jerks on the internet that just want to transact with you. With CC they can steal your info, with bitcoin they can't.

Maybe you want to get the subscription to the 'good bitcoin charts' which WRS is using via charity, but you want to pay for them. Gotta have some coin!

Maybe you want to get out of the USD, at least partly.
 
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The battle for 900 appears to be on now. This morning it was the battle for $1000 and now it's $900 and that support at $910.
 

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ThunderChunky said:
CC companies track your purchases. The whole point of bitcoin is to get rid of the central authority between you and your purchases. Some people value privacy. Maybe you want to buy some sextoys or porn or anti-government literature.
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Then just use dollars?

CC companies also often block certain legal online purchases like online gambling.
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Online gambling isn't legal in America, and I've never had a credit card block a legal purchase.
 
jhunter1163 said:
Through $870 now. Anyone wanna try and catch the falling knife?
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The selling is harder than the big drop on sunday and last week, this has got the counters going faster than the software can keep up, down 833 and bounced. The last low was 838 so this is a new lower low, that is confirming the decline.
 
wrs said:
The selling is harder than the big drop on sunday and last week, this has got the counters going faster than the software can keep up, down 833 and bounced. The last low was 838 so this is a new lower low, that is confirming the decline.
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I wonder what the time delay is from when a trade is confirmed on an exchange to when it hits preev.com; preev has it in the mid-840s now. It seems to update quite rapidly though, every few seconds.
 
jhunter1163 said:
I wonder what the time delay is from when a trade is confirmed on an exchange to when it hits preev.com; preev has it in the mid-840s now. It seems to update quite rapidly though, every few seconds.
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I am watching that clark moody Mt Gox stream and the volume is huge. The whales are trying to defend 850 but the little guys are dumping everything it appears.
 
I know I should be asleep, but this is interesting.

MtGox and BTCChina seem to be paying above average, since they are both paying above 850/coin, while Bitstamp and BTC-e are at 800 and 825/coin right now.

I think MtGox's withdrawal limit thing may be helping to keep the price up.
 
Anyone using Firefox on clarkmoody? I seem to have trouble getting regular updates to the bid stack on that site, though the chart rolls along normally. :/

ETA: Nevermind.
[12/06 14:06] kilocoin: The moody order book is messe dup
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