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  1. #221
    Moderator chazus's Avatar
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    Quote Originally Posted by Hanablossom View Post
    if I had bitcoins I would just cash them out.
    Can you cash them out?
    Yes. You can either A) KEep them in an offline wallet, so that they're safe, and just wait it out. Or B) Exchange for $$
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  2. #222
    Quote Originally Posted by chazus View Post
    Yes. You can either A) KEep them in an offline wallet, so that they're safe, and just wait it out. Or B) Exchange for $$
    Who exchanges them for $$?

  3. #223
    Moderator chazus's Avatar
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    Quote Originally Posted by Tota View Post
    Who exchanges them for $$?
    There are a lot of online exchangers, as well as many in-person places that will do it. It's not very difficult.
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  4. #224
    Quote Originally Posted by chazus View Post
    There are a lot of online exchangers, as well as many in-person places that will do it. It's not very difficult.
    How do I prosecute anyone who steals them from me or doesn't give me the amount they are worth during an exchange?

    Is this fully protected under current law?

  5. #225
    Problem is - too many people into bitcoin are tech nerds, not financially aware.

    Look at NASDAQ in 2000 to see what Bitcoin is about to do

    - - - Updated - - -

    Quote Originally Posted by Tota View Post
    How do I prosecute anyone who steals them from me or doesn't give me the amount they are worth during an exchange?
    In terms of trading in bitcoins - the system is pretty much unable to be manipulated.

    If you are referring to to/from $s ... then like any commodity, bitcoin is bought as sold at the whim of the buyer/seller.

    Challenge Mode : Play WoW like my disability has me play:
    You will need two people, Brian MUST use the mouse for movement/looking and John MUST use the keyboard for casting, attacking, healing etc.
    Briand and John share the same goal, same intentions - but they can't talk to each other, however they can react to each other's in game activities.
    Now see how far Brian and John get in WoW.


  6. #226
    Moderator chazus's Avatar
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    Quote Originally Posted by Tota View Post
    How do I prosecute anyone who steals them from me or doesn't give me the amount they are worth during an exchange?
    Is this fully protected under current law?
    If you know who it is/where it is, it's still considered property/currency in most countries. You really don't need to worry about that, because exchanges money (see: Profit, reason to exist) is based on trust. If they screw people over, they go out of business.

    That said... If someone STEALS it, as in... The place it was being held (not by you) is hacked, and stolen, that's... harder. You can try to sue the company that it was stolen from, but probably won't succeed. The people who stole it may get away with it... Or it might get tracked down. But there's little legal recourse.
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  7. #227
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    Quote Originally Posted by Nupomaniac View Post
    You are out of your good mind if you think everyone agrees bitcoin is worth something
    Sorry for grammar/vocab, sleepy af, not sure if I make any sense, I hope u get the point though.

    And for certain currency to be accepted as one, how many people have to use it and accept it? Everyone like you said? Or 80% people? 20% people? Which people? USD is accepted as currency only where it is. If you had gone to some third world country ruled by tribes instead of government, I can assure you they won't accept USD. But hey, USD is currency after all!

    Well, it turns out USD is not accepted everywhere. And so is BitCoin. BTC is cryptocurrency or digital-currency kinda by definition as well. You can exchange it for other currencies, buy more and more products and services with it. Everything that currency does, BTC does it too.

    And just because some people, or most people, or even by far most people don't accept BTC as currency as of today, it doesn't mean BTC isn't one.
    Last edited by mmoc9707634f2d; 2017-12-08 at 03:00 AM.

  8. #228
    Moderator chazus's Avatar
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    Quote Originally Posted by Nostrix View Post
    If you had gone to some third world country ruled by tribes instead of government, I can assure you they won't accept USD..
    \
    Pretty much. Currency is anything that holds value across multiple things.

    I used to sell sour gummy worms in grade school, there was an entire economy created around it as other people did too. The Red/Blue ones were always worth more (and that value changed from day to day). The money exchanged was used to buy more, and we also paid the lunch duty adults to allow us to do so as well, effectively a 'tax'. Not only that, but worms could be exchanged for other things too (snacks/desserts in peoples lunches, class supplies, etc)
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  9. #229
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    This thread shows why crypto currenies are so hard to understand. We all talk about it but how many understand them?

  10. #230
    Moderator chazus's Avatar
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    Quote Originally Posted by Hiram View Post
    This thread shows why crypto currenies are so hard to understand. We all talk about it but how many understand them?
    Not doing any research on it, and not bothering to learn about it, isnt the same as 'hard to understand'
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  11. #231
    Quote Originally Posted by Nupomaniac View Post
    THAT is beside the point. Money is only good if people value it and accept it. Its only worth something if everyone agrees it s worth something.

    Just because some people are "excited" about the prospects of internet currency doesnt suddenly mean everyone else will take it in.
    Yeah, right now everyone agrees one bitcoin is worth 16,500 USD

  12. #232
    The Unstoppable Force Elim Garak's Avatar
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    Quote Originally Posted by Typrax View Post
    Yeah, right now everyone agrees one bitcoin is worth 16,500 USD
    Not everyone.
    All right, gentleperchildren, let's review. The year is 2024 - that's two-zero-two-four, as in the 21st Century's perfect vision - and I am sorry to say the world has become a pussy-whipped, Brady Bunch version of itself, run by a bunch of still-masked clots ridden infertile senile sissies who want the Last Ukrainian to die so they can get on with the War on China, with some middle-eastern genocide on the side

  13. #233
    Quote Originally Posted by Elim Garak View Post
    Not everyone.
    Everyone who buys and sells it. The only ones who matter in determining its value.

  14. #234
    The Unstoppable Force Elim Garak's Avatar
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    Quote Originally Posted by Typrax View Post
    Everyone who buys and sells it. The only ones who matter in determining its value.
    Wrong again.
    All right, gentleperchildren, let's review. The year is 2024 - that's two-zero-two-four, as in the 21st Century's perfect vision - and I am sorry to say the world has become a pussy-whipped, Brady Bunch version of itself, run by a bunch of still-masked clots ridden infertile senile sissies who want the Last Ukrainian to die so they can get on with the War on China, with some middle-eastern genocide on the side

  15. #235
    Quote Originally Posted by Elim Garak View Post
    Wrong again.
    Well, it's impossible to get through ignorance like this. So peace out I guess.

  16. #236
    The Unstoppable Force Elim Garak's Avatar
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    Quote Originally Posted by Typrax View Post
    Well, it's impossible to get through ignorance like this. So peace out I guess.
    I wasn't trying to get through your ignorance with that.
    All right, gentleperchildren, let's review. The year is 2024 - that's two-zero-two-four, as in the 21st Century's perfect vision - and I am sorry to say the world has become a pussy-whipped, Brady Bunch version of itself, run by a bunch of still-masked clots ridden infertile senile sissies who want the Last Ukrainian to die so they can get on with the War on China, with some middle-eastern genocide on the side

  17. #237
    Quote Originally Posted by Elim Garak View Post
    I wasn't trying to get through your ignorance with that.
    Your ignorance. You're ignorant of cryptocurrency.

  18. #238
    Quote Originally Posted by ro9ue View Post
    That's exactly whats happening though....
    thats not what is happening

    what is happening is that people are playing a casino - and remember that casino always wins - very few will get rich but most who wont say pass in time will loose their life savings .

    and good - idiots should learn by their own mistakes.

  19. #239
    Quote Originally Posted by kamuimac View Post
    thats not what is happening

    what is happening is that people are playing a casino - and remember that casino always wins - very few will get rich but most who wont say pass in time will loose their life savings .

    and good - idiots should learn by their own mistakes.
    There is some skill involved in predicting good currencies and noticing price trends, so it's definitely not a casino. More like a really volatile stock market.

  20. #240
    The Unstoppable Force Elim Garak's Avatar
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    Quote Originally Posted by Typrax View Post
    Your ignorance. You're ignorant of cryptocurrency.
    haha, yeah right, because you say so?

    You said everyone agrees on it's worth at current value. How ignorant is that?

    People who buy it now do not agree that it's what it is worth. They think it's worth MORE. Hence they are buying it (why else would they buy BC? No one needs BC)
    People who sell it now do not agree that it's what it is worth. They think it's worth LESS. Hence they are selling to make bank while they can (because they don't need BC for anything else).
    People who neither sell nor buy. They also don't agree that it's what it is worth. Some of them wait for it to go down - so they will sell BC at it's highest. Others wait for it to go down so they can buy for the next round.
    All right, gentleperchildren, let's review. The year is 2024 - that's two-zero-two-four, as in the 21st Century's perfect vision - and I am sorry to say the world has become a pussy-whipped, Brady Bunch version of itself, run by a bunch of still-masked clots ridden infertile senile sissies who want the Last Ukrainian to die so they can get on with the War on China, with some middle-eastern genocide on the side

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