ATTENTION: You are viewing a page formatted for mobile devices; to view the full web page, click HERE.

Main Area and Open Discussion > Living Room

Does anyone here use Bitcoins?

<< < (151/200) > >>

...What I am curious about is why one would look at a dynamic, fluctuating "exchange rate" and then say that the answer is to do some kind of conversion to a static, unchanging barcode. ...
-x16wda (October 12, 2015, 05:39 AM)
--- End quote ---
I'm not sure that was what was being intended/proposed, or maybe it's a wrong interpretation (misunderstanding) of what was being proposed. It would seem to be nonsensical.

The necessary BTC software is free, and they all do a dollars to BTC conversion on the fly...which is based on a user configurable exchange.
FOR SMB's CoinBase (and I'd wager other companies like it) offers a web based transaction handling service that will generate a QR code based invoice, send it to the customer, and then automatically sell off the coin and deposit the money in you bank account (at the agreed on/transacted exchange rate).
-Stoic Joker (October 12, 2015, 07:03 AM)
--- End quote ---
If that is all indeed true, and if it's trusted/reliable/secure, etc., then the hypothesis of the "Wallmart problem" presumably has no validity - i.e., it's not a problem as described. Then Wall mart would probably be implementing - or would be about to implement - BC transactions. Are they, in fact? I wouldn't know - my experience and knowledge is limited to Australasia and what happens in EFT-POS systems and so-called "intelligent networks" used for high volume transaction processing, and the associated Payment Systems and GSS, a lot of which the BC system seems could potentially bypass or make redundant.
That's unlikely to happen without a fight.

StoicJoker is right.

I'd started a post before, but never clicked "Post" because I was simply ranting about how Gary North is just a complete buffoon when it comes to Bitcoin. I really like him. He just loses his mind and sounds like a complete moron when it comes to the topic of Bitcoin.

What Gary misses, as SJ noted, is that you can accept BTC and convert on the fly. Barcodes have ZERO to do with anything, and again, SJ has already noted that.

In transaction processing, bitcoins are really not that much different than debit cards.

I can go to pretty much anywhere I want and stick my bank card into the reader and pay for damn near anything I want with zero problems. BTW - that bank card is in Korean won (KRW).

The difference between paying in KRW and paying in BTC is that there is a lower transaction cost for paying in BTC.

These things are really not that hard to understand if anyone takes the time to understand different payment systems.

Now, it does require a bit of knowledge about payment systems, transaction costs, and settlement procedures, but it's not really all that complicated.

For those that want to look into it, the more complicated the system gets, the more expensive it gets. (If anyone wants, call me out on it and I'll give you basic examples that you can verify for yourself.)

With Bitcoin, the procedures are all very simple. You're talking about a maximum of 2 layers of transaction processing to achieve an objective --- the payment processor and the exchange. It doesn't get simpler than that.

With fiat currency... oh god... the layers are insane. Bank to bank to bank to bank... And that very often means that Chase Manhattan gets their cut because f**k you pay me.

I wish that Gary would just take the time to learn about what he's writing about with Bitcoin because I really like him and hate when he makes a total ass of himself. ;(

^^ Why don't you post a polite comment to that effect on his website? It might be very helpful/useful to him.

There's a sustained rally on BTC right now.

It's also seen a golden cross (50 day moving average and 200 day moving average cross with both on the upswing).


^^ Why don't you post a polite comment to that effect on his website? It might be very helpful/useful to him.
-IainB (October 14, 2015, 11:05 AM)
--- End quote ---

I'm quite certain that people closer to Gary have pointed things out to him. Given the egregiously horrible errors he's made, I don't believe that any level of reason could work. It just seems to be a blind spot for him. Which is a darn shame because he's so good on other topics. I just don't see how he misses this.

I'm quite certain that people closer to Gary have pointed things out to him.
-Renegade (October 30, 2015, 09:33 PM)
--- End quote ---
That statement reminds me of the prettiest girl in high school going dateless :( because every guy was certain another guy had asked her out.  It also dodges your responsibility to yourself.


[0] Message Index

[#] Next page

[*] Previous page

Go to full version