Thread: Bitcoin

When I am researching Digital Currency and also when I am trying to explain it to my friends I always think of this scene in "Oh' Brother where art thou" where he talks about the "brave new world" and everybody being "hooked up to a grid. "A veritable age of reason!" Always makes me laugh.

Based on what? How exactly do calculate the value of a bitcoin today, let alone at years end?

Originally Posted by 1965Vintage

Realistic target $7,000 to $9,000 by year end. $5,000 minimum by year end.

It drives me nuts how people respond to using cash as if it's an inconvenience to them. Why not just swipe your debit card? It's the same as cash anyway. I may play games like giving extra money to get even change. When they realize they have to subtract they often times look at me like a deer in the headlights. It's quite fun. I'm evil, too. I'll literally wait for them to figure it out. (*insert common core rhetoric)

ha, counting change is a lost art. if it costs $18.68 then you say "and here's 0.02 makes seventy, 5 cents is 75, a quarter is 18, clink, one and two make twenty". and have them beels lined heads up. nobody does that anymore.

It drives me nuts how people respond to using cash as if it's an inconvenience to them. Why not just swipe your debit card? It's the same as cash anyway. I may play games like giving extra money to get even change. When they realize they have to subtract they often times look at me like a deer in the headlights. It's quite fun. I'm evil, too. I'll literally wait for them to figure it out. (*insert common core rhetoric)

Using a debit card at any establishment around here is like giving someone a pipe to your checking account. Same goes for using a credit card. Before you get back home you will have phone calls from your financial institution. Credit cards you can deny the transaction but debit card is usually “too bad so sad”. I used to play that even change game but it just messes with a person who is at least employed. Just hand them the cash, take the change the register computes and go on about your business.

ha, counting change is a lost art. if it costs $18.68 then you say "and here's 0.02 makes seventy, 5 cents is 75, a quarter is 18, clink, one and two make twenty". and have them beels lined heads up. nobody does that anymore.

Yeah, see above about screwing with someone who is employed. Apparently it is a lost art. You are trying to screw yourself out of a buck. Just give them a $20 and take the $1.32 the register computes. You seem to be giving up $2.32 for an $18.68 purchase just to get change for a $20 dollar bill out of what? A $50? No one around here will take a $50.

Originally Posted by k0nkuzh0n

Based on what? How exactly do calculate the value of a bitcoin today, let alone at years end?

That’s a good question. Is there anyone here actually using bitcoin to receive money or pay bills? Is this all speculation on a possible future currency?

therein lies the rub... if they can't count then it is easy to tease out another dollar...

People think 2 decimal places is hard to calculate change... bitcoin has 8 decimal places. 1 Satoshi is 0.00000001 bitcoins

Oh you gave me 1 bit coin for your 0.00228006 coffee*? Here's 997 millibitcoin, 719 microbitcoin, and 94 Satoshi in change... You get all that?

*$5 coffee at current exchange rate of 2192.92 bitcoin = $1.

Originally Posted by burrocrat

ha, counting change is a lost art. if it costs $18.68 then you say "and here's 0.02 makes seventy, 5 cents is 75, a quarter is 18, clink, one and two make twenty". and have them beels lined heads up. nobody does that anymore.

Yeah, that is a little weird, but at least it's all electronic and no change would have to be made by the millennials.

But yeah, things will have to be priced in dollars and converted (similar to foreign currencies) because the decimals will make it tough to determine price. Although a monthly subscription to TSP Talk Plus would only be 0.0083 bitcoin. Practically giving it away.

Originally Posted by PessOptimist

That’s a good question. Is there anyone here actually using bitcoin to receive money or pay bills? Is this all speculation on a possible future currency?

I haven't paid for anything myself yet. I'm more in the hording phase right now. But I know there are bitcoin ATM's out there (https://coinatmradar.com/) and multiplying and if I wanted to send anyone bitcoin, they need to have a wallet set up, in which case it would take seconds to make the transfer.

As I mentioned in another post, I could set up bitcoin as a payment option here at TSP Talk, but there doesn't seem to be an interest yet. Soon, however.

It's the blockchain technology that makes it so attractive. No more Visa / Amex fees, or Paypal fees to buy / sell something. Just person to person without a third party / bank in between. No checks clearing in 3 to 5 business days, etc. This is what is exciting the tech geeks.

Those of you on this thread....I am just curious.....what is your current investment in Bitcoin? $1,000? $10,000?
I am thinking of getting on board, but, darnit, it keeps going up $100 per day!!