$1000 bitcoin
- Thread starter schockergd
- Start date
Can someone please answer this for me.. I was always under the impression that the whole point of bitcoin is that you can be anonymous while paying for things, but then what's the point if you end up spending them on something like a Virgin flight or a Namecheap domain when you're going to have to create an account with an email address, or give all of your info up so you can book a ticket for a flight?
Also, I could have sworn someone posted about the real benefit of bitcoin being a special transaction model or communication system.. Something like that.
I'd dig for these answers right now myself but I'm mobile.
Also, I could have sworn someone posted about the real benefit of bitcoin being a special transaction model or communication system.. Something like that.
I'd dig for these answers right now myself but I'm mobile.
You can be anonymous if you chose to be, someone buying a Virgin flight obviously doesnt care about that.
The purpose of Bitcoin isn't to enable anonymous transactions but rather to allow you to buy a domain name or plane ticket without relying on a 3rd-party financial institution (your bank, Visa, ...) to make the transaction.
Although, there's work being put in to making it anonymous by default. For example, https://bitcointalk.org/index.php?topic=279249.0.
Here's a good comment I read on HN that nicely squares it away:
(Source: https://news.ycombinator.com/item?id=6810839)
@mpbiz to add onto what Mahzkrieg said, the basic idea is that it's "more anonymous" than fiat. Bank wires, checks, credit cards, debit cards, PayPal, ACH, etc are all easily traceable and constantly monitored by the gov and various third parties. Bitcoin is just "more anonymous" in that there aren't all these random people staring over your shoulder monitoring your activities all the time.
just to add.
seems at the current state of affairs, it's pretty anonymous to store or send/receive bitcoins to each other.
Purchasing stuff: problem is when you want to use it to purchase stuff, etc. Not exactly practical to use for payments since not that many vendors/businesses accept them. so it means converting it to cash.With vendors that do accept bitcoins as payment, there would be purchase records at their end and I think they're getting pressured to keep records of such purchases.
Exchanges: Same deal with exchanges. Records will be kept. If you transfer out cash/fiat to your bank acct, will large amts be reported or get noticed by the guvment? Some say it does. idk. So do you bite the bullet and pay the capital gains tax to play it safe? (just like you do with other commodities, investments, stock gains, etc)
Cash/bitcoin transactions: i hear the most anonymous way to be anonymous is to hook up locally thru localbitcoins, etc, and do cash transactions. But it's probably gonna be a pain in the arse for alot of folks to have to do this, not to mention cashing out a few thousand here, a few thousand there. Not gonna be 10k, 100k deals.
seems at the current state of affairs, it's pretty anonymous to store or send/receive bitcoins to each other.
Purchasing stuff: problem is when you want to use it to purchase stuff, etc. Not exactly practical to use for payments since not that many vendors/businesses accept them. so it means converting it to cash.With vendors that do accept bitcoins as payment, there would be purchase records at their end and I think they're getting pressured to keep records of such purchases.
Exchanges: Same deal with exchanges. Records will be kept. If you transfer out cash/fiat to your bank acct, will large amts be reported or get noticed by the guvment? Some say it does. idk. So do you bite the bullet and pay the capital gains tax to play it safe? (just like you do with other commodities, investments, stock gains, etc)
Cash/bitcoin transactions: i hear the most anonymous way to be anonymous is to hook up locally thru localbitcoins, etc, and do cash transactions. But it's probably gonna be a pain in the arse for alot of folks to have to do this, not to mention cashing out a few thousand here, a few thousand there. Not gonna be 10k, 100k deals.
The Chinese news that caused this downslide doesn't really look that bad, this has been a huge overreaction and I expect the price to go back up soon. Baidu probably overreacted to the news itself and could change their mind. -Either way, the flood of awesome news coming out of the US (like BofA's $1300 bitcoin valuation) and the UK (28,000 storefronts will sell bitcoin at their registers) are likely to trump that chinese hiccup soon.
Grab what you can under $900; You'll be very glad you did later bros!
Grab what you can under $900; You'll be very glad you did later bros!
Speculators have a stabilizing effect on anything because of the quantity of transactions. This allows Joe Plumber to get in and out of bitcoins with confidence at any time quickly because there's always someone buying or selling. Sure they can help/hurt the bulls/bears in a run, but it's not a bad thing to have them around day to day.
$820 on Coinbase.. seems like a steal to me..
this coming from the guy who may be about to ride this bitch all the way down. lol. :arcadefreak::arcadefreak::arcadefreak:
I absolutely would not be surprised if we see a huge panic sell off.
Nor would I be surprised if it was $1200 tomorrow.
ridethewave.gif
this coming from the guy who may be about to ride this bitch all the way down. lol. :arcadefreak::arcadefreak::arcadefreak:
I absolutely would not be surprised if we see a huge panic sell off.
Nor would I be surprised if it was $1200 tomorrow.
ridethewave.gif
