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  • EADD Moderators: Shambles

EADD Gibberings CXXX v.Kids, Who'd 'Ave Em?

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serves them right for speculating due to media hype and artificially driving the value up.
 
How the hell can people actually use them for buying and selling at the moment when the value is fluctuating so much?

It's too unstable to be used as a currency now surely?
 
Am I right in saying you have to install a program? Think I saw it ages ago when asked to pay for something and I was about to sign up but then was asked to download a program I thought 'fuck that, virus scam thing'. I could be taking about something else entirely knowing me though. I wouldn't have had the good sense to buy a load and sit on them anyway so it's irrelevant really.
 
I have spent the last 5 hours lazing on the sofa (apart from getting up for a few pills, drinks, bathroom breaks). I have so much stuff to get sorted / do (anyone need a flat Newcastle region :D), can somebody book me a vacation for next week :( - I'm supposed to be cooking for a party later but cant be arsed.
 
Ben So Furry said:
Am I right in saying you have to install a program? Think I saw it ages ago when asked to pay for something and I was about to sign up but then was asked to download a program I thought 'fuck that, virus scam thing'. I could be taking about something else entirely knowing me though. I wouldn't have had the good sense to buy a load and sit on them anyway so it's irrelevant really.
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You can mine for them :D - TOR/Onion ETC (mods not sure if this is ok? feel free to remove)
 
Mailmonkey said:
How the hell can people actually use them for buying and selling at the moment when the value is fluctuating so much?

It's too unstable to be used as a currency now surely?
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THIS ! A few months ago If somebody bought some for few $ a pop - then I just sold them for a few hundred $ a pop (sliding scale and just revisiting now). If a product cost you 10 bitcoins 6 months ago - surely the product is not worth 1000 bitcoins now ?
 
Thirded on the stability thing. Have little to no actual knowledge of the things but I'd hate to have to use 'em for buying stuff. Seems like one Bitcoin would've bought you a kilo of summat on Monday but only a gramme of the same summat on Friday. Sort of.
 
only used them for buying once when the only other option was IBAN & BIC bank transfer, which my bank would have charged me 20quid for.
all in all no different from using payments like liberty reserve, and the anonymity is a plus...
 
Toucan said:
only used them for buying once when the only other option was IBAN & BIC bank transfer, which my bank would have charged me 20quid for.
all in all no different from using payments like liberty reserve, and the anonymity is a plus...
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But if your making a bank transfer + charges your paying a set amount of money (say 50£ +20£bank charges = 70£ for the transaction). If your buying something for bitcoins that was 5 bitcoins last week (and cost you 1£ per bit coin) who is the same item at the same sale price (but cost you 50£ per bit coin) still a valid purchase?

Do you simply split your bitcoin ? something that was 1 bit coin is now worth .005 bits?
 
Toucan said:
if you get a price and pay quickly this isn't a problem, I think when I did it the the vendor's bitcoin price would change and would only be a guarantee'd price in bitcoin for 24 hours.


https://en.bitcoin.it/wiki/FAQ
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But the vendor is fucked aren't they? They just sold their valuable commodity for what they thought was a good price but turned out to be peanuts.

What vendor would hang around in a market that unstable? Unless they're immediately exchanging into "real world" currency.
 
That makes a bit more sense I suppose, Toucan. Still seems kinda complicated though. Do sellers really work out prices daily depending on the exchange rate? The way the exchange rate has been going they need to be working it out by the hour it seems. If not the minute.

So basically folk decide on a price in actual money and work out what that equates to each day. Guess that would work but Knock makes a good point up there. The currency itself seems to be worth more than the products at times. Until it's not any more.
 
Shambles said:
That makes a bit more sense I suppose, Toucan. Still seems kinda complicated though. Do sellers really work out prices daily depending on the exchange rate? The way the exchange rate has been going they need to be working it out by the hour it seems. If not the minute.

So basically folk decide on a price in actual money and work out what that equates to each day. Guess that would work but Knock makes a good point up there. The currency itself seems to be worth more than the products at times. Until it's not any more.
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The seller I used would use http://preev.com/ to work out the exchange rate and therefore a price, which apparently uses https://mtgox.com/ itself.
 
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