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How many WL players use bitcoin or other Ecurrency: 10/17/2017 18:59:08

Golden Horde
Level 54
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Just a random survey on how many WL players use bitcoin or other crytocurrency, and how often do they use it in nowaday society. Or most people still prefer paypal and wiretransfer?
How many WL players use bitcoin or other Ecurrency: 10/17/2017 19:28:58


Paugers 
Level 41
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Tbqh, I've never met anyone that actually uses bitcoin or what not, nor found a service that accepts it. Wouldn't know the first part of getting bitcoins.
How many WL players use bitcoin or other Ecurrency: 10/17/2017 21:23:01


ℳℛᐤƬrαńɋℰ✕
Level 57
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They only useful if you need to order something illegal, whether service or a product. I have not yet met a sensible person who supports such currency. I know only people who used to/use them for speculating.

Where is your money? well its sorta on a floppy disk in some dumb binary code? I´d rather store my money on fire-proof box and deal with inflation rather than trust e-stuff who does not have any central-formal authority nor any decent guarantees on accounts. And I assume most people who do accept e-currency either deal as well with speculation, tax-avoidance or with illegal market in mind. I have not yet come across someone who show e-currency as assets, even if they accept it as payment (it surely aint fall under cash).

The bottom line is, its dumb to support illegal market by making every-day payments with un-traceable money.
How many WL players use bitcoin or other Ecurrency: 10/18/2017 00:26:26


TeamGuns 
Level 59
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What does it make that one dollar is worth some ammount of goods? Your trust in it. Nothing else, it's just paper or a digital number in your account. It's not that different from bitcoin other than the first is controlled by the United States Central Bank (FED) and the second has no central control.

As more and more people accept to buy/sell stuff using bitcoins, the more (true) value it gets, and that value is increasing alongside the speculative value of the bitcoin.

I wouldn't mind using bitcoins to buy stuff, it's the same as I do today, but with no bank annoying me, no government spying in the stuff I do, no central bank devaluating the currency by printing money and for those that don't like paying taxes (for one I don't mind paying), you have 0% sales tax.
How many WL players use bitcoin or other Ecurrency: 10/18/2017 03:37:04


knyte 
Level 58
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> unironically describing Bitcoin as currency when it behaves like a commodity
How many WL players use bitcoin or other Ecurrency: 10/18/2017 03:40:45


Bane 
Level 60
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0 since the term is actually cryptocurrency
How many WL players use bitcoin or other Ecurrency: 10/18/2017 12:41:10


Zephyrum 
Level 60
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I've, so far, only seen one person use Bitcoin, and it was for a drug deal.

Edited 10/18/2017 12:41:39
How many WL players use bitcoin or other Ecurrency: 10/18/2017 19:27:39


Paugers 
Level 41
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^ Yep and it was him who used it.
How many WL players use bitcoin or other Ecurrency: 10/18/2017 20:39:09

(((Tabby Juggernaut)))
Level 53
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Most people who have bitcoins don't actually use them.
How many WL players use bitcoin or other Ecurrency: 10/18/2017 23:50:33


TeamGuns 
Level 59
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What is money but a commodity itself knyte? It's only the most useful of commodities, but it's still subject to supply/demand variations, and it's only worth a certain ammount because people are ready to give stuff in exchange for it.

Bitcoin isn't too far away from gold or other comodities when it comes to structure: you have a limited ammount of material, some of it is created, but it's rarer and rarer, and it has a value that follows people's willingness to buy it.
How many WL players use bitcoin or other Ecurrency: 10/19/2017 00:01:11


BUFFALO
Level 46
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i use darkcoin to buy toilet paper on the deep web
How many WL players use bitcoin or other Ecurrency: 10/19/2017 02:29:28


Wulfhere
Level 47
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Currency based on human psychological value rather than actual physical value is doomed to hyperinflation and eventual collapse, as all man-made institutions have a lifespan.

I would invest in indestructible and eternally valuable things, and trade those things for whatever acceptable currency is available (be it bitcoin or dollars) if I need to make a transaction, but still maintain a nice stockpile of something like gold or silver.
How many WL players use bitcoin or other Ecurrency: 10/19/2017 02:32:32

(((Tabby Juggernaut)))
Level 53
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^I agree. I don't believe in fiat either.

The only "value" of bitcoins seem to be the fact that it is deflationary. That does not make it inherently valuable though.

Edited 10/19/2017 02:33:29
How many WL players use bitcoin or other Ecurrency: 10/19/2017 21:35:37


Njord 
Level 61
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explain me which currency that i inherently valuable
How many WL players use bitcoin or other Ecurrency: 10/19/2017 23:58:48


Wulfhere
Level 47
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we are referring to currencies that are also commodities. If I give you a stack of papers saying they're worth X amount, then I need to have a government agree to that amount or a society of free citizens in agreement.

A gold bar on the other hand, is valuable because the physical material that makes it up is itself valuable.
How many WL players use bitcoin or other Ecurrency: 10/20/2017 01:05:35


Zephyrum 
Level 60
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The (intrisic) value of gold is also zero, though. Gold is only valuable because it was used as a currency - as a standalone commodity the demand is very low, and shrinks quickly since jewelry lasts a very long time.
How many WL players use bitcoin or other Ecurrency: 10/20/2017 01:08:59


Wulfhere
Level 47
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Gold is valuable because of its rarity. Unlike paper gold can't be printed by reams; there is a finite supply and it will remain low.

The metal also has various uses in industry.
How many WL players use bitcoin or other Ecurrency: 10/20/2017 01:13:11


Wulfhere
Level 47
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you can also use gold bars as melee weapons
How many WL players use bitcoin or other Ecurrency: 10/20/2017 01:58:43


Zephyrum 
Level 60
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Gold lacks tenacity, so using it as a melee weapon is a pretty shitty idea. Using wood, which is the source of the paper that becomes money, is more likely to net you good results.
How many WL players use bitcoin or other Ecurrency: 10/20/2017 02:25:34


Wulfhere
Level 47
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Anything dense is going to be an effective melee weapon. More mass = more kinetic energy = more damage. Hence why a foam hammer isn't as effective as a real hammer of the same volume.
How many WL players use bitcoin or other Ecurrency: 10/20/2017 04:50:37


Zephyrum 
Level 60
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yet it'll break apart on the first hit, while also making it brutally harder to swing - if too heavy, you'll fail to carry/swing it, and even with superhuman strength, your bones would be gone
How many WL players use bitcoin or other Ecurrency: 10/20/2017 05:09:04


Wulfhere
Level 47
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REEEEEE back off you fiat currency statist
How many WL players use bitcoin or other Ecurrency: 10/20/2017 16:16:46


Zephyrum 
Level 60
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I don't trust the state with my money either, but if they jack my money off me with some crazy economic hijinxes, their own funding also goes away.
How many WL players use bitcoin or other Ecurrency: 10/20/2017 16:56:51


Norman 
Level 57
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Imo Bitcoins current volatility is making it useless to function as an actual currency, so in some sense the hype is destroying it.

As for the further direction bitcoin will take I have absolutely no clue and all I have read some far is some chart analyis bla bla. However I'd like to make the uneducated guess that Bitcoin will indeed badly crash and after all the hype is out, it or a successor technology will find an actual use.
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