The Grand Artist wrote:
Since I have seen so many comments from people here that dislike "The Man" and his governments, police, and corporations, I was wondering how many here would accept payment for services in Bitcoin instead of currency.

For those of you that don't know what Bitcoin is http://www.forbes.com/sites/realspin/20 … in-divide/

ok yes

Lars R Peterson wrote:
Yes, I certainly would! There are more and more stores accepting bitcoin as tender, and if you don't spend it right away, there's a good chance of it growing in value! (of course, there's also a chance of it losing value... but I like a little risk.)

Interestingly, this post by Lars was written on August 14th, 2014. The value of Bitcoin against the US Dollar on that day was $508.

Today, on February 26th, 2015, it is worth $236, and has not risen over $508 once since August of last year. So for all of you who jumped on the Bitcoin bandwagon back then, all I can say for you is...

Shot By Adam wrote:
Interestingly, this post by Lars was written on August 14th, 2014. The value of Bitcoin against the US Dollar on that day was $508.

Today, on February 26th, 2015, it is worth $236, and has not risen over $508 once since August of last year. So for all of you who jumped on the Bitcoin bandwagon back then, all I can say for you is...

MtGox went tits up leaving a trail of bad debt; and in the last week, or so, another BtC exchange in Hong Kong evaporated into the night leaving investors holding another empty bag to the tune of ca US$350 million

Also you mention the BtC values currently and in the recent past; give a thought to those who bought in when it was $1000+

Contrary to what some seem to believe it is NOT money. Trading in Btc is more akin to buying and selling penny stocks or futures contracts in pork bellies.

Studio36

studio36uk wrote:
Contrary to what some seem to believe it is NOT money. Trading in Btc is more akin to buying and selling penny stocks or futures contracts in pork bellies.

It's a bit like both actually. I can't go to a hotel and pay for my room with pork belly shares but there are hotel chains which do accept bitcoin as currency. The problem is, it's a lot like forex trading, where you trade the value of one currency against the value of a foreign currency. In the case of bitcoin though, the value of it has been in rapid decline over the last many months. But hey, if you were a terrorist or kidnapper or computer hacker, bitcoin is just awesome!

Tony Lawrence wrote:
Investments gain and decline.

Which is the whole point. It is not "money" it is something else entirely. What is held in BtC may have value but it is not "money" in the same way that my car has value but it is not "money".

Studio36

studio36uk wrote:

Which is the whole point. It is not "money" it is something else entirely. What is held in BtC may have value but it is not "money" in the same way that my car has value but it is not "money".

Studio36

Well people claim it's currency and it's used as currency so... yeah. It kind of is money - or it's meant to be.

People forget that currency is also an investment when you're playing against other currencies.

Tony Lawrence wrote:
Airlines are now accepting Bitcoins.   http://www.economist.com/blogs/gulliver … ts-bitcoin
Bitcoins started in 2009 and a man with a $27.00 investment in them sold them in 2013 for over $800,000.   Its currently over $200.00.   Investments gain and decline.

I read a story about a teenager who spent his Christmas money on Bitcoin. He's a millionaire now and doesn't need to work.