Sounds to me as if Mr Branson has a bunch of Bitcoin and would like to cash-in early next week.
Virgin Galactic to accept Bitcoin [video]
21–30 of 107 posts
Re: Virgin Galactic to accept Bitcoin [video]
#22Sounds to me as if Mr Branson has a bunch of Bitcoin and would like to cash-in early next week.
yeah the fact that the Bitcoin scam is spreading raises eyebrows. Companies want to accept it to sound futuristic but they should really be shutting it down.
Notice how none of the tech-giants want to get involved with it. Bitcoin isn't for the technologically advanced who are "being rewarded for being sooooo smart and adopting early", it's a scammer platform.
I heard a suggestion for a gold-backed digital currency once. That makes much more sense to me. Instead of getting into magic bean territory with monstrous gains/losses, just put 100k into gold, design a system with 100k "eGoldcoin" or whatever u wanna call it then just trade the coins. The platform would never tank because people know roughly what it's worth. It would be way less exciting, well... because it's sane.
Re: Virgin Galactic to accept Bitcoin [video]
#23Metaphorically this is fantastic. What better way to pay for a barely controlled rapid ascent and descent than with a highly unstable 'currency'!
Re: Virgin Galactic to accept Bitcoin [video]
#24Sounds to me as if Mr Branson has a bunch of Bitcoin and would like to cash-in early next week.
yeah the fact that the Bitcoin scam is spreading raises eyebrows. Companies want to accept it to sound futuristic but they should really be shutting it down. Notice how none of the tech-giants want to get involved with it. Bitcoin isn't for the technologically advanced who are "being rewarded for being sooooo smart and adopting early", it's a scammer platform. I heard a suggestion for a gold-backed digital currency o…
> I heard a suggestion for a gold-backed digital currency once.
I think you fell for a joke.
Re: Virgin Galactic to accept Bitcoin [video]
#25It seems that with every passing day, another prominent institution or business starts accepting Bitcoin for payment, Virgin Galactic being the latest example. In just a few years, Bitcoin has gone from experiment to global phenomenon. I wouldn't be surprised if in coming years at least some bitcoin users start measuring their wealth in bitcoins, and therefore also evaluating exchange rates, not in terms of how many…
I would be surprised. Right now bitcoin seems like a speculative bubble with people trying to push a "it will be the best thing ever" attitude to further rise the exchange rate. Reminds me of the https://en.wikipedia.org/wiki/Tulip_mania
Re: Virgin Galactic to accept Bitcoin [video]
#26Sounds to me as if Mr Branson has a bunch of Bitcoin and would like to cash-in early next week.
yeah the fact that the Bitcoin scam is spreading raises eyebrows. Companies want to accept it to sound futuristic but they should really be shutting it down. Notice how none of the tech-giants want to get involved with it. Bitcoin isn't for the technologically advanced who are "being rewarded for being sooooo smart and adopting early", it's a scammer platform. I heard a suggestion for a gold-backed digital currency o…
In case you haven't heard of it before: http://en.wikipedia.org/wiki/E-gold
Re: Virgin Galactic to accept Bitcoin [video]
#27Sounds to me as if Mr Branson has a bunch of Bitcoin and would like to cash-in early next week.
yeah the fact that the Bitcoin scam is spreading raises eyebrows. Companies want to accept it to sound futuristic but they should really be shutting it down. Notice how none of the tech-giants want to get involved with it. Bitcoin isn't for the technologically advanced who are "being rewarded for being sooooo smart and adopting early", it's a scammer platform. I heard a suggestion for a gold-backed digital currency o…
> Notice how none of the tech-giants want to get involved with it.
Chamath Palihapitiya, Kevin Rose, the Winklevii
Re: Virgin Galactic to accept Bitcoin [video]
#28Earlier quoted context omitted.
yeah the fact that the Bitcoin scam is spreading raises eyebrows. Companies want to accept it to sound futuristic but they should really be shutting it down. Notice how none of the tech-giants want to get involved with it. Bitcoin isn't for the technologically advanced who are "being rewarded for being sooooo smart and adopting early", it's a scammer platform. I heard a suggestion for a gold-backed digital currency o…
> Notice how none of the tech-giants want to get involved with it. Chamath Palihapitiya, Kevin Rose, the Winklevii
missing from that list -- Google, Yahoo, Amazon... actual retailers with products
I don't care what VC hipsters are doing, and who the hell were the Winklevii before they started hyping bitcoin?
Re: Virgin Galactic to accept Bitcoin [video]
#29"she paid in bitcoin, which was transferred into actual dollars "so there's a fixed price ... [and] we can actually pay her money back, if she changes her mind" Seems no different than if the buyer had sold her Bitcoin and paid Virgin Galactic in cash. The real trick will be when they can accept Bitcoin, keep the Bitcoin, and make any refunds and adjustments in Bitcoin.
> Seems no different than if the buyer had sold her Bitcoin and paid Virgin Galactic in cash.
I'm not sure if this differs for six-figure transactions, but transacting fiat currency generally costs a vendor ~3%.
Receiving bitcoins and immediately converting them back to USD/GBP can be done for less than one percent of the amount of the transaction.
Re: Virgin Galactic to accept Bitcoin [video]
#30It seems that with every passing day, another prominent institution or business starts accepting Bitcoin for payment, Virgin Galactic being the latest example. In just a few years, Bitcoin has gone from experiment to global phenomenon. I wouldn't be surprised if in coming years at least some bitcoin users start measuring their wealth in bitcoins, and therefore also evaluating exchange rates, not in terms of how many…
No, the volatility has been entirely in BTC. Volatility should more accurately be measured against actual real-world goods that you can buy. Since pretty much all actual goods are priced in currencies other than BTC, with the BTC price merely set based on the current exchange rate with the currency that the goods are bought at, it's BTC that's volatile, not the USD.
This kind of volatility is actually really harmful to it being adopted as a primary currency. It's pretty dumb to actually spend bitcoins if you could just hold onto them and sell a week or two later at twice the price, and then spend the USD for twice the goods you would have been able to buy last week with the same number of BTC. It's also pretty dumb to accept BTC as payment, especially when it's at an unsupportable high, because it's likely to crash soon and you'll now have half the value you had earlier. The volatility is valuable for speculators, but could be ruinous if you were trying to run a business based on it. Yes, you could get lucky and it could go in the direction that favors you, but that's speculation, that's not business.