NFR Bitcoin Accepted Here?

Discussion in 'Fly Fishing Forum' started by freestoneangler, Sep 12, 2017.

  1. golfman44

    golfman44 5-Time Puget Sound Steelhead Guide of the Year

    Joined:
    Jul 8, 2012
    Messages:
    4,602
    Likes Received:
    6,243
    Location:
    Washington
    Yea block chain has a ton of potential, but buying bitcoin isn't buying block chain tech. Paying for AOL was paying for the internet. People who prop up bitcoin because of block chain tech are just those who were earlier into the pyramid than those who the hope to recruit.
     
  2. Swimmy

    Swimmy Riffle > Run > Pool

    Joined:
    Jan 15, 2015
    Messages:
    6,767
    Likes Received:
    10,958
    Location:
    I have an amazing collection of fishing shirts
    I bet that place is rowdy!!
     
    jake-e-boy likes this.
  3. JayB

    JayB Active Member

    Joined:
    Feb 18, 2009
    Messages:
    596
    Likes Received:
    289
    Location:
    Seattle, WA
    Time will tell. Definitely not something that anyone should put any money into that they can't afford to lose 100% of.

    The good news is that it sounds like there will soon be a CBOE futures exchange where people with the means and conviction to put some money behind their predictions can step up to the plate. It'll be interesting to watch what effect, if any, that has on the currency if there's serious money lining up to bet against bitcoin on the exchanges.

    https://www.cnbc.com/2017/08/02/cbo...evoss-brothers-digital-currency-exchange.html
     
  4. Dustin Bise

    Dustin Bise Active Member

    Joined:
    Jul 29, 2007
    Messages:
    3,578
    Likes Received:
    768
    Location:
    509

    there is a ton of ways to use bitcoins as real wold currency. its actually surprisingly global as well.

    there are about 2000 active bitcoin ATM machines even, that operate at current market value. you can also sell bitcoins on the world exhange for cash at any time, again priced according to the current market. lots of people use it for peer to peer transactions as well, esp the more computer savy folks. if you not great with technology, bitcoins probably arnt for you.

    expedia.com accepts bitpay, so you might not be able to buy a winston but you can pay to fly to south america with it and use it to rent a van.

    overstock.com accpets bitcoin too.
     
  5. freestoneangler

    freestoneangler Not to be confused with Freestone

    Joined:
    Jan 1, 2006
    Messages:
    11,114
    Likes Received:
    4,193
    Location:
    Ruby Valley, MT
    This isn't drivel, it's an honest question and arguably not in need of an NFR. Still in a slow burn over the whole Boeing didn't make me an offer thing I see.
     
  6. mtskibum16

    mtskibum16 Active Member

    Joined:
    Jun 18, 2008
    Messages:
    2,949
    Likes Received:
    2,937
    Location:
    Puget Sound Beaches
    With stocks you are buying shares of an actual business with real assets and sound financials. With Bitcoin you are buying some ones and zeros that exist out in the cloud somewhere and not backed by anything.
     
    golfman44 likes this.
  7. jasmillo

    jasmillo Active Member

    Joined:
    Dec 25, 2006
    Messages:
    1,388
    Likes Received:
    1,169
    I think not backed by anything is the scariest part. I am far from even a novice when it comes to bitcoin but the value comes from scarcity, correct...and whether or not people accept them as currency of some kind.


    I read an article that 100,000 retailers are accepting it now. There are a few places I recognized in the article but most I did not.

    Not sure if feeling comfortable with bitcoin has much to do with computer saviness. I have worked with computers daily for 15 years now and although I would not consider myself particularly savvy (I'm not a millennial ;)) I am very comfortable with their use. The reason I would not consider it is because it really is just a gamble at this point. If you enjoy gambling and have some spare cash to play with, bitcoins might be fun.

    I personally am not the gambling type myself.
    The one and only time I went to Vegas to actual spend time there, I lost $20 the first night, skipped town and went hiking in Zion the rest of my vacation....
     
    jake-e-boy likes this.
  8. MileHighFlyGuy

    MileHighFlyGuy Active Member

    Joined:
    Oct 29, 2013
    Messages:
    441
    Likes Received:
    481
    Location:
    O.P.
    Governments can tax their subjects to back their currencies. Bitcoin is backed by the full faith and credit of Satoshi Nakamoto. As the Joker once said, who do you trust?
     
  9. creekx

    creekx spent spinner

    Joined:
    Mar 4, 2004
    Messages:
    989
    Likes Received:
    631
    Location:
    Rancho Deluxe
    Neither?
     
    MileHighFlyGuy likes this.
  10. Dustin Bise

    Dustin Bise Active Member

    Joined:
    Jul 29, 2007
    Messages:
    3,578
    Likes Received:
    768
    Location:
    509
    i dunno, bitcoin has been around long enough that i dont see it as a big gamble anymore. i think we will see it become more and more standard and accepted, just like it has been doing pretty much since its introduction.

    its easy to blindly hate on though if you dont understand it. its like any other currency in the world, its worth what people make it worth. any "investment" is a gamble, but as a currency bitcoin is positioned well for the future and global economics.


    as far as @MileHighFlyGuy claiming "Bitcoin is backed by the full faith and credit of Satoshi Nakamoto", i think that just goes to show how little of an understanding of the system he has.
     
  11. jasmillo

    jasmillo Active Member

    Joined:
    Dec 25, 2006
    Messages:
    1,388
    Likes Received:
    1,169
    To be honest, I know very little about bitcoin myself. I've read a few articles, listened to a podcast or two, read the Wikipedia page and read a few things on investopedia of which the article linked below was the most interesting.

    To me it's a gamble because I know very little about it. Other seem to be more comfortable.

    http://www.investopedia.com/articles/investing/052014/why-bitcoins-value-so-volatile.asp
     
  12. McKivergan

    McKivergan Active Member

    Joined:
    Feb 14, 2017
    Messages:
    323
    Likes Received:
    383
    Location:
    On the nape of the dragon, WA
    Snake oil pyramid scheme. I DO understand tech and received my first degree in economics. Bitcoin lost 30% of its value in the last month or so. They are positioned for NOTHING. If you want to invest in weird and possibly interesting things go research penny stocks, at least you'll get an education. Better yet, form your own company and sell anything. With only a 27% chance of success, you'll do better financially.
     
    Stonefish likes this.
  13. Ed Call

    Ed Call Mumbling Moderator Staff Member

    Joined:
    Jun 9, 2008
    Messages:
    20,234
    Likes Received:
    5,648
    Location:
    Kitsap Peninsula
    You are so hilarious, not. The only slow burn currently is about you, not Boeing.
     
  14. JayB

    JayB Active Member

    Joined:
    Feb 18, 2009
    Messages:
    596
    Likes Received:
    289
    Location:
    Seattle, WA
    I thought of this thread when bitcoin went north of $10k this evening, and I remembered that the most profit that I've ever made off of any asset in pure percentage terms was a handful (~40?) of saddle hackle feathers that were left over from a half-saddle I bought in NZ for something like $20USD in 2008 and subsequently sold in 2010 for something like $200 on eBay. I can recall thinking that it was very unlikely that I'd ever make that kind of multiple again in my life, and thus far I've been correct.

    Sounds like everyone here has steered clear of bitcoin, but did anyone on this board clean-up bit time when we were at peak feather?
     
  15. Phil Fravel

    Phil Fravel Friendly

    Joined:
    Nov 9, 2005
    Messages:
    1,073
    Likes Received:
    319
    Location:
    Bonney Lake
    I took 1000 and bought some BC. It went up to 4000 in about 6 months. I then removed my initial investment. No loss only paper gain at this time