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Mark.
Questioning the norm

Registered: Apr 2006
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Location: Mirror City

http://www.bbc.co.uk/news/business-24738821

In addition, there are now shops in London that accept Bitcoin and the world's first Bitcoin ATM has gone live in Canada.

How significant a role do we think Bitcoin will play as a future currency?

What are the implications of a single currency for the whole world?

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Old Post30-10-2013 14:12 PM
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kerb

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thats crazy

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Old Post30-10-2013 14:24 PM
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Cleveland Steamer
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One of my old haunts of yesteryear The Pembury in Hackney currently accepts them!

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Old Post30-10-2013 14:58 PM
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Nomi Sunrider
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I've made some very small profits in bitcoins purely due to buying them and leaving them in my online wallet for a short time but I tend to only purchase them when I need to erm . . . buy something which used bitcoins as payment.

Not sure how quickly they'll catch on as a main currency but there's plenty of trading and I'm sure some people are making some big money.

There's also been some market manipulation. The massive rise in bitcoin value a little while ago followed by a crash was predicted by a blogger with an insight into the banks and how they're trying to control this market.

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Old Post30-10-2013 15:58 PM
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Norris123

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Quote:
Nomi Sunrider wrote on 30-10-2013 03:58 PM

I've made some very small profits in bitcoins purely due to buying them and leaving them in my online wallet for a short time but I tend to only purchase them when I need to erm . . . buy something which used bitcoins as payment.

Not sure how quickly they'll catch on as a main currency but there's plenty of trading and I'm sure some people are making some big money.

There's also been some market manipulation. The massive rise in bitcoin value a little while ago followed by a crash was predicted by a blogger with an insight into the banks and how they're trying to control this market.



I admire your modesty, Mr Sunrider?

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Old Post30-10-2013 18:55 PM
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Pacman

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Quote:
Mark. wrote on 30-10-2013 02:12 PM
How significant a role do we think Bitcoin will play as a future currency?



It's useful as a currency that isn't controlled by any one agency, so it'll continue to be used online for shifty stuff. It's usefulness for other stuff is limited because:

Quote:

What are the implications of a single currency for the whole world?



It's too volatile to be useful for Serious Business™. We already have a de facto single currency, the US dollar. But no country is going to align it's own currency to Bitcoin in times of trouble, because it's too flaky.



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Old Post31-10-2013 10:11 AM
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Mark.
Questioning the norm

Registered: Apr 2006
Posts: 11521 - Threads: 350
Location: Mirror City

Quote:
Pacman wrote on 31-10-2013 10:11 AM

It's useful as a currency that isn't controlled by any one agency, so it'll continue to be used online for shifty stuff. It's usefulness for other stuff is limited because:

It's too volatile to be useful for Serious Business™. We already have a de facto single currency, the US dollar. But no country is going to align it's own currency to Bitcoin in times of trouble, because it's too flaky.



It's use for shifty stuff does give it a bad reputation, which is a shame as I think it does have potential.

Is there a chance the currency could stablise?

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Old Post31-10-2013 15:32 PM
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ceekay
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Quote:
Pacman wrote on 31-10-2013 10:11 AM

It's useful as a currency that isn't controlled by any one agency, so it'll continue to be used online for shifty stuff. It's usefulness for other stuff is limited because:



It's too volatile to be useful for Serious Business™. We already have a de facto single currency, the US dollar. But no country is going to align it's own currency to Bitcoin in times of trouble, because it's too flaky.




Ironic really, given what happened with the Euro recently. It didn't fail, but it certainly took a bashing.

"Do you believe in the devil? You know, a supreme evil being dedicated to the temptation, corruption, and destruction of man?"
"I'm not sure that man needs the help." (Calvin & Hobbes)

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Old Post31-10-2013 15:46 PM
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