Bitcoins in the "real world"

Discussion in 'Digital Currencies' started by itching, Nov 13, 2013.

  1. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,606
    Likes Received:
    4,392
    Trophy Points:
    113
    WTF?

    Let me put it more simply.

    What would you rather trade for coffee, tea and biscuits?

    Gold, silver, BTC or fiat?
     
  2. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    3,584
    Likes Received:
    1,935
    Trophy Points:
    113
    You would have loved these.
    [​IMG]
     
  3. Load of Bullion

    Load of Bullion Well-Known Member

    Joined:
    Jul 10, 2009
    Messages:
    1,349
    Likes Received:
    49
    Trophy Points:
    48
    Location:
    Sydney
    I love silver tulips when they pop up.

    [​IMG]


    [youtube]http://www.youtube.com/watch?v=8lLUWXXJXhY[/youtube]

    I can buy a coffee with my Bitcoins at Waves Cafe. Yup, I'd use BTC.

    [​IMG]
     
  4. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,606
    Likes Received:
    4,392
    Trophy Points:
    113
    Thanks LOB for the last image. Makes my point succinctly. Stupid cunt bought a coffee with his BTC on October 30, when they were worth what? $200 US.

    Should have used fiat.
     
  5. Load of Bullion

    Load of Bullion Well-Known Member

    Joined:
    Jul 10, 2009
    Messages:
    1,349
    Likes Received:
    49
    Trophy Points:
    48
    Location:
    Sydney
    FACT: He used Bitcoin as his currency in exchange for a coffee. He wanted a coffee and got it. Whether he is interested in speculating in Bitcoin as a potential investment or not is another matter altogether.
     
  6. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,606
    Likes Received:
    4,392
    Trophy Points:
    113
    True.

    Fact: he would have been better off hoarding his BTC and using fiat.
     
  7. Load of Bullion

    Load of Bullion Well-Known Member

    Joined:
    Jul 10, 2009
    Messages:
    1,349
    Likes Received:
    49
    Trophy Points:
    48
    Location:
    Sydney
    In your opinion....but he wanted a coffee and got it (that is a win). Bitcoin is a very young currency and fluctuates. I'm sure he did not know how much Bitcoin he could trade as currency for his coffee in the months to come. "Hindsight is always twenty-twenty."

    "The historian is a prophet facing backwards."
    Friedrich von Schlegel
     
  8. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,606
    Likes Received:
    4,392
    Trophy Points:
    113
    ^ or they are just attracted by the novelty of being able to use BTC to purchase something that could easily, and which would make much better economic sense - and I'm referring to marginal utility here - could have been purchased with stinking fiat.
     
  9. Load of Bullion

    Load of Bullion Well-Known Member

    Joined:
    Jul 10, 2009
    Messages:
    1,349
    Likes Received:
    49
    Trophy Points:
    48
    Location:
    Sydney
    shiney.....why support the banking system by using their stinking fiat dollars or digital currency?. Some people don't want to support the bankers with their beloved stinking fiat. Now they have an option in the real world.
     
  10. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,606
    Likes Received:
    4,392
    Trophy Points:
    113
    Marginal utility LOB. I'd rather trade something of lesser value for a product than something of greater value eg I wouldn't trade gold for beer or coffee.
     
  11. Load of Bullion

    Load of Bullion Well-Known Member

    Joined:
    Jul 10, 2009
    Messages:
    1,349
    Likes Received:
    49
    Trophy Points:
    48
    Location:
    Sydney
    Gold (& Bitcoins) convert to bank issued fiat. Relax...it's not too early for a beer, Lol.

    A coffee might have been (bank fiat) $4.00 12 months ago. Now it is $4.20.
     
  12. trew

    trew Active Member Silver Stacker

    Joined:
    Aug 24, 2011
    Messages:
    3,653
    Likes Received:
    7
    Trophy Points:
    38
    Location:
    Melbern
    Don't think those getting on board now give a stuff about bitcoins in the real world
     
  13. leo25

    leo25 Well-Known Member Silver Stacker

    Joined:
    Jun 8, 2010
    Messages:
    3,584
    Likes Received:
    1,935
    Trophy Points:
    113
    maybe he should hold off from ever using it, so when he dies he can bring his BTC to heaven and spend it there?
     
  14. goldpelican

    goldpelican Administrator Staff Member

    Joined:
    Jun 29, 2009
    Messages:
    17,648
    Likes Received:
    580
    Trophy Points:
    113
    Now you sound like Sprott saying you should never ever sell your gold :)
     
  15. Load of Bullion

    Load of Bullion Well-Known Member

    Joined:
    Jul 10, 2009
    Messages:
    1,349
    Likes Received:
    49
    Trophy Points:
    48
    Location:
    Sydney
    In the earliest days of Bitcoin, some people would have mined Bitcoins as a mere technical curiosity rather than foreseeing historical gigantic prices rises against bank fiat, I would imagine. But hey, I'm no mind reader.

    Whatever....Bitcoin does not care. It does not have a brain to think, or a voice to make claims about itself.
     
  16. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,606
    Likes Received:
    4,392
    Trophy Points:
    113
    Your anthropomorphic references to BTC are starting to worry me.
     
  17. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,606
    Likes Received:
    4,392
    Trophy Points:
    113
    Bitcoin says no?
     
  18. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

    Joined:
    Nov 15, 2010
    Messages:
    18,606
    Likes Received:
    4,392
    Trophy Points:
    113
    At this point in time? Scary. Will PM you later. :)
     
  19. Load of Bullion

    Load of Bullion Well-Known Member

    Joined:
    Jul 10, 2009
    Messages:
    1,349
    Likes Received:
    49
    Trophy Points:
    48
    Location:
    Sydney
    "Scary" - Nope, we are not flirting with $1000USD/BTC yet.

    Let me know when you get a Bitcoin address shiney...I'll send you an airly Christmas present.
     
  20. itching

    itching New Member

    Joined:
    Nov 11, 2013
    Messages:
    18
    Likes Received:
    0
    Trophy Points:
    0
    I was thinking about this the other day. Say you have 2 bitcoin users - 1. ME (the coffee shop owner) 2. willrocks (a customer).

    He comes in my shop and sees the sign "we accept bitcoins" and we get talking. He wants his coffee and has to pay, but in a Greshams law kind of situation which mmmm shiney pointed out, he would rather pay with fiat than BTC (Greshams law basically says - people when given the choice will pay with the currency they value less. Even my 3 year old neice when buying lollies will pay with the dirty coins and keep the shiney ones for herself.) This leaves us with a few options

    1. Lower the price for BTC users (if I really value BTC highly)
    2. Encourage him to change fiat into BTC and pay me like that
    3. Take his fiat and change that to BTC later
    4. Accept dirty fiat

    The point I'm trying to make is, as long as we do any option (except 4). Bitcoin in general will benefit because surely the more transsactions in BTC and the more users the higher the value would go.
    Any problems with this logic?
     

Share This Page