NFR Bitcoin Accepted Here?

freestoneangler

Not to be confused with Freestone
#1
Anyone found fishing product businesses that accept crypto-currency (i.e. Bitcoin)? A friend of mine has been investing in this form of currency for a few years now and has been suggesting I do the same. But if you can't use it to buy fly-fishing stuff, what's the use? It seems to be gaining popularity around the globe and more merchants are added everyday. But on the whole, it still seems pretty restrictive...at least as a payment source.
 

freestoneangler

Not to be confused with Freestone
#3
It is not investing, it is gambling.
Well to be honest, I thought it was illegal in the U.S. but, surprisingly, it is not. Highly speculative with potential BIG gains and equally BIG risks... but how is that much different than many stocks? Hell, I'd even settle if golf courses accepted it as payment.
 

jasmillo

Active Member
#4
Well to be honest, I thought it was illegal in the U.S. but, surprisingly, it is not. Highly speculative with potential BIG gains and equally BIG risks... but how is that much different than many stocks? Hell, I'd even settle if golf courses accepted it as payment.
I think you can buy heroin off the dark web and coffee at Starbucks....and that's about it at this point.
 
#6
Really strange, I just heard my first bitcoin pitch this week. Guy was all excited like it was a secret cyber gold rush. Suspect.

Sent from my SM-G920V using Tapatalk
 

jasmillo

Active Member
#9
It looks like there are places you can buy gift cards (Cabelas/ Bass Pro Shops as an example) with bitcoin and then of course turn that around and buy fishing gear.

That's about all I came up with in my 2 1/2 minutes of research online. That and some place called Swift Flyfishing I have never heard of....
 

golfman44

5-Time Puget Sound Steelhead Guide of the Year
#10
Well to be honest, I thought it was illegal in the U.S. but, surprisingly, it is not. Highly speculative with potential BIG gains and equally BIG risks... but how is that much different than many stocks? Hell, I'd even settle if golf courses accepted it as payment.
It's hard for any small business to accept it as currency when the price can move 20% in the blink of an eye. It hit 5,000 a week ago and a few days later was back at 4,000. A fly shop is in the business of selling fly fishing stuff for actual cash, not trading fly fishing stuff for bitcoin on a prayer it goes up.

If a shop sold someone 5 Loomis asquiths for 1 bitcoin last week, they would have essentially given one of them away for free. What could they do then? Tell their employees they won't be paid this week because bitcoin went down? That doesn't sound like a sustainable business model to me. Sure, it could have gone up 20% instead of down, but doesn't that sound like gambling instead of running a business?
 
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golfman44

5-Time Puget Sound Steelhead Guide of the Year
#11
Hey FSA, bitcoin just crashed again, now it's down to roughly $3,500. Feel free to send me a new sage X spey rod for saving you $1,500 per intern coin. Or better yet, don't buy me a rod and instead donate your saved $ to Skagit steelhead conservation efforts.
 

JayB

Active Member
#13
Not trying to persuade anyone one way or another here, but I'll post a link to a couple of informative podcasts for anyone that is interested. The most important thing to realize is that Bitcoin is a specific application of an underlying technology wth much broader applications. That technology is the "blockchain."

To make an analogy from an earlier time, bitcoin is to the blockchain as AOL is to the internet. Bitcoin may be a joke/cautionary-tale in a few years but the utility of blockchain technology is so significant that it's hard to imagine a future without people developing applications for it that save tons of time and money relative to the way things are done now.

It may not be bitcoin per se - but I think that there's an awful lot of demand for a version of money that combines the medium-of-exchange/store-of-value aspects of sovereign currencies with a built-in capacity for mobile payments that allows people to bypass expensive and/or corrupt intermediaries in countries with corrupt or inept governments that victimize people that hold their wealth in the local currency through devaluation, confiscation, etc.


Nathaniel Popper on Bitcoin and Digital Gold
http://www.econtalk.org/archives/2015/06/nathaniel_poppe.html

Marc Andreessen on Venture Capital and the Digital Future
http://www.econtalk.org/archives/_featuring/marc_andreessen/

Wences Casares on Bitcoin and Xapo
http://www.econtalk.org/archives/2015/07/wences_casares.html