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Living On Bitcoin For A Week

forbes.com

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Re: Living On Bitcoin For A Week

#21

Post by lucb1e »

Steko wrote: post #15
lucb1e wrote: post #8

This is like trying the first Android beta there ever was and then saying that there aren't a lot of apps for it yet. Nearly all current users could have told him that living on Bitcoin for a week is hard to do right now because there is simply no support. This is why we are early adopters , we use something before it's mainstream. You can't actually walk up to anyone and expect to be able to pay them in any currency…

Walking up to people and paying people for goods and services is a good measure of how useful something is as a currency. Right now, it's hard to avoid the conclusion that bitcoin is fairly useless to most people as a currency, a hard truth for some. What is it not useless for? Well mainly as an investment/get rich quick scheme as well as money laundering, drug deals and soothing the paranoia of hard money cranks.

If it was so easy to get rich with bitcoin, everyone would have it already. Besides that, what are Dollars useful for besides drug deals and tax evasion? I can't pay a taxi in Dollars here (a very good measurement for how useful a currency is) but I can use dollars to buy stuff from some Chinese seller that doesn't make me pay tax over the bought goods. It's a hard truth for some.

This reply is total bullshit, I know. I'm trying to connect with him on his level.

Re: Living On Bitcoin For A Week

#22

Post by im3w1l »

evo_9 wrote: post #20
mrb wrote: post #17

Earlier quoted context omitted.

One Bitcoin can be divided down to 0.00000001 BTC.

Yes, I'm aware of this. My comment was about wide-spread adoption. I have a hard time imaging my parents working with fractions just to buy a coffee.

There is some effort to switch the discourse to mBTC.

Re: Living On Bitcoin For A Week

#23

Post by Steko »

lucb1e wrote: post #21
Steko wrote: post #15

Earlier quoted context omitted.

Walking up to people and paying people for goods and services is a good measure of how useful something is as a currency. Right now, it's hard to avoid the conclusion that bitcoin is fairly useless to most people as a currency, a hard truth for some. What is it not useless for? Well mainly as an investment/get rich quick scheme as well as money laundering, drug deals and soothing the paranoia of hard money cranks.

If it was so easy to get rich with bitcoin, everyone would have it already. Besides that, what are Dollars useful for besides drug deals and tax evasion? I can't pay a taxi in Dollars here (a very good measurement for how useful a currency is) but I can use dollars to buy stuff from some Chinese seller that doesn't make me pay tax over the bought goods. It's a hard truth for some. This reply is total bullshit, I know…

"I can't pay a taxi in Dollars here"

Who is trying to push the dollar as a viable currency for Chinese people to buy things with in China?

OTOH Bitcoin hypers are trying to push it as a global currency. Well, spoilers: it sucks for that.

Re: Living On Bitcoin For A Week

#24

Post by meric »

evo_9 wrote: post #20
mrb wrote: post #17

Earlier quoted context omitted.

One Bitcoin can be divided down to 0.00000001 BTC.

Yes, I'm aware of this. My comment was about wide-spread adoption. I have a hard time imaging my parents working with fractions just to buy a coffee.

Your ancestors did just fine with salaries of a few dollars a year, once upon a time.

Re: Living On Bitcoin For A Week

#25

Post by Steko »

rheide wrote: post #5

This is stupid and it proves nothing. It's the equivalent of living on Rupees for a week. Sure, you might find some Indian people who will take your money, but nobody's trying to replace the USD with either the Rupee or the Bitcoin. Pure sitespam, this.

"nobody's trying to replace the USD with ... the Bitcoin"

That's blatantly false, it's been presented as a potential replacement since infancy.

Re: Living On Bitcoin For A Week

#26

Post by wmf »

meric wrote: post #24
evo_9 wrote: post #20

Earlier quoted context omitted.

Yes, I'm aware of this. My comment was about wide-spread adoption. I have a hard time imaging my parents working with fractions just to buy a coffee.

Your ancestors did just fine with salaries of a few dollars a year, once upon a time.

It's just a terminology problem because people aren't used to "bitcents" or "mBTC" yet.

Re: Living On Bitcoin For A Week

#27

Post by Steko »

lucb1e wrote: post #21
Steko wrote: post #15

Earlier quoted context omitted.

Walking up to people and paying people for goods and services is a good measure of how useful something is as a currency. Right now, it's hard to avoid the conclusion that bitcoin is fairly useless to most people as a currency, a hard truth for some. What is it not useless for? Well mainly as an investment/get rich quick scheme as well as money laundering, drug deals and soothing the paranoia of hard money cranks.

If it was so easy to get rich with bitcoin, everyone would have it already. Besides that, what are Dollars useful for besides drug deals and tax evasion? I can't pay a taxi in Dollars here (a very good measurement for how useful a currency is) but I can use dollars to buy stuff from some Chinese seller that doesn't make me pay tax over the bought goods. It's a hard truth for some. This reply is total bullshit, I know…

"If it was so easy to get rich with bitcoin, everyone would have it already. "

Who said it was easy, straw man much?

Pushing pump and dump stocks via spam emails or selling worthless plots of land to old folks might very well be hard but that doesn't mean it isn't a scam or a get rich quick scheme.

Re: Living On Bitcoin For A Week

#28

Post by pyalot2 »

makomk wrote: post #18
pyalot2 wrote: post #13

"after a failed attempt to do so via Mt. Gox, the value-setting Bitcoin exchange based in Japan; my bank refused to send funds to Mt. Gox’s account saying it was suspended" Funny how this journalist is the only one having gotten that. Seeing as MtGox is the biggest exchange, that would've been quite the news otherwise, but it isn't, because it's so far working for everybody.

To be honest, everyone else is probably used to problems like this now, to the point that it's not really news.

Well, difficulty transfering money, why sure. But MtGoxes account being shut down, that would be news.

Perhaps the nice lady should've stated which bank is telling her bullshit. Name and shame.

Re: Living On Bitcoin For A Week

#30

Post by niggler »

rheide wrote: post #5

This is stupid and it proves nothing. It's the equivalent of living on Rupees for a week. Sure, you might find some Indian people who will take your money, but nobody's trying to replace the USD with either the Rupee or the Bitcoin. Pure sitespam, this.

"Pure sitespam, this."

Forbes.com as a whole is spam. I'm genuinely amazed by how many articles get upvoted. I guess whatever anti-voting-ring measures in place here can't compete with forbes employees :/

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