Its this savvy new internet currency and used a lot for purchasing drugs. I think it'd be fucking huge if Seedbay/Seedboutique started accepting it, its super easy too.
What you think?
What you think?
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What you heard about bitcoins?
- Thread starter oceangrownkush
- Start date
This has piqued my interest also... There is a road I would like to go shopping on LOL
There is that road but I was hoping it wouldn't come up as it might get the thread closed
I don't shop there personally but it seems legit for all intents and purposes.As long as the Seedbay/Bou staff kept savvy on the exchange rates and we were getting the same prices (or better maybe? For lack of transaction fees it could be feasible to do discounts for order done through BTC) I think it would make seedbay/bou/icmag family very popular among the deep web and BTC economy users.
Would be cool to get some input from some higher ups on the IC staff as to this being a viable option or not.
half the things i read on bitcoin say its a scam the other half say its the future. all kinds of reading to do about it.
What makes you say its scam? I mean people buy it with real money.. Its not like you're going to *lose* any money with it. The way things are going BTC is set to become worth exponentially *more* in the coming years. Its already quickly outpaced the US dollar in value.
300% blow up in value in the last couple months bro, since January. I've already gotten in on it and I'm only getting more.. Shits a fuckin lock. Cash out at any time for about 5 bucks a coin at the moment.
I blame the chinese gold farmers in WoW.
these last two post are what im talking about.
"bitcoins worthless unless you buy something with it" isnt much of an argument
and
"300% in 3 months!!1" is even more scary
i should download some economic books on my kindle
"bitcoins worthless unless you buy something with it" isnt much of an argument
and
"300% in 3 months!!1" is even more scary
i should download some economic books on my kindle
LOL.... yeah. Its the same reasoning amateur gamblers use to justify putting their money on the table again and again, getting cockier and cockier until BAM, it's all gone.
I met a fellow from Seattle back in January 2007, and he told me the same shit about how the housing market was blowing up and how rich he was gonna be when the house he just paid and arm and leg for tripled in value over the next few years. Of course we know what happens next....or at least some of us do. Considering we are still dealing with the fallout from the last stupid ass investment scheme which is fundamentally flawed in the exact same way, you'd think people would be bright enough to see the exact same thing happening again and stay away. But no....
The premise Bitcoin is based on is flawed. Anyone who invests long term or a substantial portion of their portfolio in this "currency" is a fool who will be burned BADLY when things go sour.....which will happen so goddamn fast that you'll literally wake up one morning and your money will gone.
Best of luck to you, but I know where my money is better invested to see real growth.....and that's in grow equipment. Lights, soil, nutes, buckets, electricity.....etc.
OK, so let me get this straight, using the round numbers below for (hehehe) arguments sake I'm looking @ this:
In January my $100 would have bought 30 bitcoins.
Today my $100 will buy only 10 bitcoins.
In January the smack dealer was charging 12 bitcoins a deck.
Today the smack dealer is still charging 12 bitcoins.
In January the smack dealer was charging $40 a deck.
Today the smack dealer's charging $40 a deck.
If I buy my bitcoins today I'm either paying the same dollar amount and getting 1/3rd the bitcoins you did in January or I'm paying triple the price to buy the same amount of bitcoins you did in January. That's either a fact or you're blowin' smoke.
If all of a sudden that smack dealer decides to be taking 4 bitcoins (1/3rd my above quoted price) for a deck then my $100 purchase of bitcoins has bought me exactly the same amount of highs that yours did back in January and suddenly your 300% rise in value's sounding more imagined.
If what you say is true and my buying powers only 1/3rd of yours previously then the LAST thing I'm gonna do is throw down my Benjamin just to pick up 33 bucks, and even a fucking junkie can do THAT math.
OK, junkies dilemma;
'got cash in hand, buy smack or bitcoins?'
'I need prune juice, do da store take bitcoins?'
'delivery issues, even issuing (sending) issues.'
'no recourse, no refunds, empty postbox.'
either way I don't see junkies lining up any time
soon, you were talking about drug dealing right?
I feel WAY safer buying disposable Visa cards or international money orders @ Wal-Mart, I can get a $500 card no questions asked, if I need more I can buy 2, 3 or 4 more cards or m.o.'s, again nqa.
just my take on it
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posting as just any member, i'd say that bit coin have an interesting aspect. i do like the non debt based issue and the transparent way they work. very close to cash, but with the guarantee that the bitcoins won't be printed when ever the owner needs some cash, like the fed does with dollars. i really don't know everything about them, but some stuff i read so far makes them sound interesting. problem is that i'm not sure what the legalities are. what happens if the gov closes them down and confiscates the servers, whats with your money then?
OK, so let me get this straight, using the round numbers below for (hehehe) arguments sake I'm looking @ this:
In January my $100 would have bought 30 bitcoins.
Today my $100 will buy only 10 bitcoins.
In January the smack dealer was charging 12 bitcoins a deck.
Today the smack dealer is still charging 12 bitcoins.
In January the smack dealer was charging $40 a deck.
Today the smack dealer's charging $40 a deck.
If I buy my bitcoins today I'm either paying the same dollar amount and getting 1/3rd the bitcoins you did in January or I'm paying triple the price to buy the same amount of bitcoins you did in January. That's either a fact or you're blowin' smoke.
If all of a sudden that smack dealer decides to be taking 4 bitcoins (1/3rd my above quoted price) for a deck then my $100 purchase of bitcoins has bought me exactly the same amount of highs that yours did back in January and suddenly your 300% rise in value's sounding more imagined.
If what you say is true and my buying powers only 1/3rd of yours previously then the LAST thing I'm gonna do is throw down my Benjamin just to pick up 33 bucks, and even a fucking junkie can do THAT math.
OK, junkies dilemma;
'got cash in hand, buy smack or bitcoins?'
'I need prune juice, do da store take bitcoins?'
'delivery issues, even issuing (sending) issues.'
'no recourse, no refunds, empty postbox.'
either way I don't see junkies lining up any time
soon, you were talking about drug dealing right?
I feel WAY safer buying disposable Visa cards or international money orders @ Wal-Mart, I can get a $500 card no questions asked, if I need more I can buy 2, 3 or 4 more cards or m.o.'s, again nqa.
just my take on it
You know that 300% figure was just something I heard (from someone I personally trust, if that means anything), I'm by no means an expert on BTC. And no I wasn't just talking about just buying drugs. There are plenty of legitimate businesses which accept BTC, mainly because there are no transaction fees and its basically instant. For example there are many dudes on the deepweb who will do your homework for you for BTC. Thats legit enough right? Maybe I'm not making the best case for them, it is a new thing but people are trading in BTC every day and there is real value attached to them. I have no vested interest in seeing them become more successful either, I have about 4 BTC at the moment.
Either way I think it'd be fucking rad to have a quick electronic way to pay the SB staff for seeds. Would be really rad if they got into it, wouldn't be too hard for them to prospectively come up hard as fuck either. Its a lot like the stock market, sure, but there haven't been any CRAZY lows yet as far as I can tell and I've only seen gradual increases in value since I've been in it.. Certainly not something to put all of your eggs in, but then theres nothing *THAT* safe is there? By no means am I recommending someone go out and convert all of their paper currency, but if you have a little money you wouldn't mind gambling with then BTC prospecting can actually be a very fruitful en devour.
More fiat digital currency?
No thanks.
If it were to become big beyond the small number of people buying into the scam that will eventually get ripped off (only IMO) then the gov will shut it down as only FRN's are legal tender. The counterfeiting criminals at the FED have a monopoly on counterfeited fiat legal tender and like it that way.
You ought to try doing your own homework. It's good for the brain.
No thanks.
If it were to become big beyond the small number of people buying into the scam that will eventually get ripped off (only IMO) then the gov will shut it down as only FRN's are legal tender. The counterfeiting criminals at the FED have a monopoly on counterfeited fiat legal tender and like it that way.
You ought to try doing your own homework. It's good for the brain.
bitcoins not actual fiat currency, nobodys backing it. nobodys in control and everybody gets to see the books so even if you do cook them we know who the chef is. the servers are adhoc, and transactions must propagate and be 'approved'. an encryption scheme worth its 1s and 0s in gold. must be a nightmare to The Feds.
The authorities will a tough fight with this one, can they afford to pay the wages for the skills needed to stop it? Law enforcement have not come up against a network of geeks before, at the least, it will be very interesting.As jayjayfrank said it's not a fiat currency, the exchange rate is decided by those trading Bitcoins. From what I have seen vendors adjust their prices according to their local exchange rate.
At the moment one Bitcoin is about £8, $13.
Anyone who is classes themselves as libertarian should be taking a look at bitcons. In fact by the nature of what we do here on IC, more of us should be involved.
I don't need a government to wipe my arse, you pay tax through barrel of a gun.
Peace
I have also discovered this road awhile back and have pondering whether or not to take a 'trip down it' for a few months now, hehe
i like cash i can hold in my hand. otherwise its an illusion.
I read an AMA on redditt from an IT/Grower guy.
He said he sold all his pot on MOM (mail order marijuana) networks and got the money in bitcoins and forex. VERY interesting indeed the guy does alls his business online.
This ominous "road" also has tutorials on bitcoins, how to convert and anonymize them.
He said he sold all his pot on MOM (mail order marijuana) networks and got the money in bitcoins and forex. VERY interesting indeed the guy does alls his business online.
This ominous "road" also has tutorials on bitcoins, how to convert and anonymize them.
