I don’t even notice the price to be honest. It is a means and ways of realising profit. It is just as easy to use this card as any other card. Coincidently when purchasing something in a local newsagent recently with my Xapo card I asked the girl at the till who I knew quite well if they took Bitcoin there. She knew what it was but said no. I joked “you do now!!”
That would be 0.00133333 btc sir. Or 133333 'satoshis', which is the smallest unit of account.if a Bitcoin is priced at $15,000 how do you pay for a small item costing say $20
if a Bitcoin is priced at $15,000 how do you pay for a small item costing say $20
This is all thats needed for bitcoin to fail. Is that really failure though?money laundering non existent
Of course they didn’t actually take BTC. But there is one more reason to add to my list for transacting in BTC, it must impress the girlsI don’t even notice the price to be honest. It is a means and ways of realising profit. It is just as easy to use this card as any other card. Coincidently when purchasing something in a local newsagent recently with my Xapo card I asked the girl at the till who I knew quite well if they took Bitcoin there. She knew what it was but said no. I joked “you do now!!”
firefly said:Bitcoin is synonymous with the Dark Web where drugs, guns and the worst form of trade in materials realting to children take place.In addition to the Dark Web, there seems to be a few token, trendy coffee shops accepting Bitcoin......Now, I've heard it argued here that the baddies use FIAT money to trade in illicit goods too. But there's a difference......only a tiny portion of the global FIAT currencies are used in this way by a moniority of people.
Sure, Brendan. I take on board the proportionality argument. The reason being that there are several technological impediments to bitcoin payments as it stands right now. Furthermore, the role of government is getting in the way of same. Japan has become the first (and only??) country to officially recognise Bitcoin as a fully fledged currency (as opposed to commodity) since a few months ago. In the direct aftermath of that, a number of high profile chain stores in Japan started to accept bitcoin as a means of payment.Sure, criminals use cash, credit cards and other forms of money for their activities. But the vast majority of uses of cash and credit cards was for legitimate purposes.
Bitcoin faces a number of technological issues that is holding it back as a currency right now. In fact, due to the level of transactions, it's regressed in this regard. Validation of transactions has slowed. Cost of transactions has increased. These two factors are the very opposite of how bitcoin was pitched as a currency.The point in this thread is that it doesn't appear that Bitcoin is used for its original purpose very much. The main "practical" use as distinct from speculative use, is for illicit activities.
See above. A ban on bitcoin would stiffle innovation - and if anything, it would encourage scammers to use it all the more.So, I would give a fiddlers. One could not ban cash in an attempt to defeat criminals, as it would affect so many other people. But a ban on Bitcoin wouldn't affect anyone other than criminals. I am not suggesting a ban by the way, just pointing it out.
It's inconvenient isn't it?Fed up with this 'dark web' nonsense.
I like your posts in general but that's almost as lame as someone else who said there are plenty more energy users than Ireland/Bitcoin - like that makes it OK or somethingFirstly, who gives a fiddlers - let people buy what the hell they want and they can deal with Law Enforcement thereafter - that's their problem.
Of course not. FIAT is used by the vast majority of people for legitimate purposes. I wouldn't ban something just because a tiny proportion use if for illegal purposes.All of these people use cash, cars, etc. etc. - are we to ban them too?
I disagree. In fact, if bitcoin wasn't used for illicit purposes there would be very little users of it anywhere...The idea that more people proportionately use bitcoin for illicit purposes than cash is semantics.
That would be 0.00133333 btc sir. Or 133333 'satoshis', which is the smallest unit of account.
Each bitcoin is divisible 100 million times, or up to 8 decimal points
Hi Firefly. If I calculate it correctly, it would be around 30,000 Satoshis.
http://satoshitobitcoin.co/satoshi-to-usd/ 30,000 is $5.63
Most people have problems with percentages. This would be even more difficult. As I have said before, the very high price is a deterrent to its wider adoption. Dividing a Bitcoin by 20,000 would make more sense because then one, let's call it an iddybiddy, iddybiddy would be worth $1, which people would understand without needing a calculator.
But maybe by dividing it by 100m instead of 20,000, they were waiting for the price to rise to $100m each. In which case one Satoshi will be worth $1.
Brendan
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