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Bitcoin, a service and the micro-micro-economy

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Re: Bitcoin, a service and the micro-micro-economy

#7

Post by spenvo »

motters wrote: post #4

Unfortunately this model doesn't seem to work. If you look at what's getting votes it's things like pictures of girls and kittens.

It may not work. It's still too early to tell. If you look at other content sites that have tried to pay out to contributors (think Mahalo), their models didn't work either. Huffington post finds more success by paying nothing.

Re: Bitcoin, a service and the micro-micro-economy

#8

Post by noagendamarket »

spenvo wrote: post #7
motters wrote: post #4

Unfortunately this model doesn't seem to work. If you look at what's getting votes it's things like pictures of girls and kittens.

It may not work. It's still too early to tell. If you look at other content sites that have tried to pay out to contributors (think Mahalo), their models didn't work either. Huffington post finds more success by paying nothing.

The difference is their money comes from ad revenue not from the users themselves. Didnt huffington post sell for quite a lot of money to AOL and the people who actually built it got nothing ?

Re: Bitcoin, a service and the micro-micro-economy

#9

Post by dublinclontarf »

Allow me to extol the virtues of bitcoin over the current credit-card/banking based payment system.

1)Hard money, once you receive payment in bitcoin it stays with you, meaning no chargebacks(Paypal, credit cards, looking at you).

2)Fast payment, you can recieve payment within minutes of it being made(sometimes faster, but more on this in a moment).

3) Low barriers of entry, to start accepting bitcoin you don't need a bank account, or even your own computer. You can use one of a number of free(or cheap) online services such as mybitcoin.com or just go ahead and install it on your machine.

4) No red tape, this is slightly related to the above but important enough to warrant it's own point. With bitcoin there are no forms, no regulations, no paperwork. You can send bitcoin to anyone, anywhere, anytime, any amount and no one will care or track you, or freeze your account or any of the other issues when dealing with the current banking system.

5)It's the most innovative financial ecosystem on the planet and evolving damn fast. Because there is no regulation, it's easy to start writing applications that use bitcoin. Services and goods are springing up at an astounding rate.

Now you may say that payments take minutes, but creditcards are instantanious this is true (to a certain extent, at least with payment confirmation). However because of the flexibility of bitcoin, it's ease of development a technical solution to this issue will arrise in the near future(next two to three months).

Right now bitcoin is small, but it's growing fast, real fast, and faster than the growth of bitcoins themselves or even it's users are the services and goods that are springing up around it.

In a years time bitcoin is going to be so easy to use people like your grandmother are going to wonder why they ever bothered with credit-cards(or online banking) at all.

Sexy no?

Re: Bitcoin, a service and the micro-micro-economy

#10

Post by noagendamarket »

mischa_u wrote: post #6

Your two cents worth literally; although at the current Bitcoin exchange rate [1] a typical post/comment/vote on witcoin.com costs USD 0.079. [1] http://www.bitcoincharts.com/markets/

http://sandbox.witcoin.com/p/327/GETTING-STARTED--Reply-to-t...

you can post on the witcoin sandbox and someone is offering .10

Thanks for linking the bitcoin charts site which is another worthy bitcoin service.

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