Marketplace in Bitcoin

Discussion in 'Off-Topic' started by ihunda, Apr 1, 2013.

  1. ihunda

    ihunda SS.org Regular

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    So that bitcoin thing is really starting to get off, I have a bunch of those so I'll be quite willing to use bitcoins instead of paypal or bank wires to buy/sell/trade guitars.
    Especially for international deals, there are no fees, it's instant and it doesn't matter if the cashout will be in dollars, euros or roupie!

    So I was wondering, what about if the marketplace becomes an escrow for bitcoins deals?

    Simply releasing the funds once postal tracking shows it's been delivered or maybe going a bit further to help in litigation?

    Of course they would be a commission for such a service.

    What do you guys think? Would you use an escrow service like that in the hands of ss.org staff?
    Do you have any other ideas for using bitcoins in this community?

    PS: Also, accepting donation by bitcoins would be cool as well :)

    PS: for those who have never heard of bitcoins, from wikipedia:
    More at Bitcoin - Wikipedia, the free encyclopedia
     
  2. BIG ND SWEATY

    BIG ND SWEATY Edgy

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    i dont really have any suggestions for this site but as someone who wants to use them for "products" on TSR I can say that they are waaay to expensive at the moment. im really hoping the price goes down a bit cause last time i checked 1 BTC = ~94 USD which is ridiculous.
     
  3. rekab

    rekab SS.org Regular

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    BigndSweaty Look at litecoin. Its being accepted in more and more places. Slightly more complicated to buy and/or mine but it might fit your want/needs

    @OP:
    BTC isnt just taking off. Its been around a few years. It is getting more attention because people are running the price up so high. This is due to mining difficulty and rewards being cut in half a few months ago. ASICs are out soon and that should make mining significantly harder and hopefully drive prices up even further.
    BTC via ss.org escrow would be overly complicated and I doubt the mods would be up for babysitting everyones cryptocurrency.
    Id accept btc for gear though.
     
  4. Hollowway

    Hollowway Extended Ranger

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    I'm not particularly interested in accepting bitcoin for anything. I like the concept, but it's like penny stocks, and I'm just not willing to put a significant amount of money into something that is so volatile.
     
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  5. ihunda

    ihunda SS.org Regular

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    Yeah, I guess a good start is just to mention it in a listing when someone accepts bitcoins.
     
  6. warped

    warped SS.org Regular

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    This is an old thread - but bitcoin has just cracked $350 US..

    I mined a few bitcoins a few months ago (I've got 3.8BTC) will be interesting to see what happens? Can it be shutdown by any government? I've got a 500Gh/s miner coming in a few weeks (a few of us thought we'd put in and see how things pan out).
     
  7. narad

    narad SS.org Regular

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    And 10 days later cracked $500, and with the effects of what seems to be a positive federal hearing on virtual currency regulations still to come. I thought I had missed the window and decided to buy a bunch when it was at $60 anyway (after falling from $270), but had trouble linking to my bank account and just immediately gave up. Kicking myself now. Of course, that would have only been a profit of around $12k between ~March and now, but what I really hate is not knowing how high it could go. Hold on to that 3.8BTC.
     
  8. ihunda

    ihunda SS.org Regular

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    Yes, bitcoin is higher than ever and with that pirate side silkroad shut down and Germany and US going in the direction of making it legal.... it's here to stay and continue climbing!

    Of course it's bitcoin so there may be a few crashes along the way, guaranteed :)
     
  9. MaxOfMetal

    MaxOfMetal Likes trem wankery. Super Moderator

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    Thanks for volunteering more of my time. :rofl:
     
  10. ihunda

    ihunda SS.org Regular

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    ^lol, well I'll pay for it ;-)
     
  11. warped

    warped SS.org Regular

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    Wow - digging up an old thread here.. Anyone here still holding bitcoin or in to Cryptocurrency trading? Has certainly come a long way since the beginning of this thread :)
     
  12. Hollowway

    Hollowway Extended Ranger

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    I wish I did! I’ve always been too worried about the speculative nature of it. Plus, there are so many to choose from. I’m fully in support of it, as I’m none to thrilled that so much of the world’s traditional wealth is held by so few. But I’m also aware that if I were to buy some I’d surely crash it. I have that way with investing in things. :lol:
     
  13. bostjan

    bostjan MicroMetal Contributor

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    I never bought any, but I collected some from a bunch of faucets and microjobs, it actually added up to about 0.1 BTC, so I invested it in the Chinese BTC stock market and lost it all. :lol: I still have about 0.02 BTC floating around somewhere in the ether, but I don't remember the gigantic text key to get to it.
     
  14. watson503

    watson503 Los Cochinos

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    I've been working in the Bitcoin world for almost 3 years now, it has been a pretty wild ride looking back from where we started to now.
     
  15. KnightBrolaire

    KnightBrolaire 8 string hoarder

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    i've dabbled in some crypto currency like ethereum, etc. sadly I missed the gigantic runs that bitcoin has had.
     
  16. narad

    narad SS.org Regular

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    These are always funny threads to dig up. In three years someone will bump it, "Bitcoin was only $6700!?? Hope you bought!!" Back when I last posted here I had decided to sell 2 guitars and put it in BTC and just hold -- one guitar sold, the other I got forced into a trade + cash sort of thing. Still glad I did it, but would have been much better shape had that thing sold outright!
     
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  17. BIG ND SWEATY

    BIG ND SWEATY Edgy

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    This shit just hit $7000 per BTC and I thought $94 was high:lol:
     
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  18. Mathemagician

    Mathemagician SS.org Regular

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    The only current investment vehicle hat one can use on the proper capital markets is effectively a trust that requires buyers have over $1mm in liquid net worth or make over $200k/yr.

    Those requirements are the same as for direct investment into hedge funds. So unless your goal is to buy a few hundred dollars worth for “fun”, the markets treat it as a very volatile alternative investment.

    Just sharing for anyone who would like a different view on it. I personally basically inform my clients that they can do it on their own if they want, but no portfolio managers are willing to risk on what effectively behaves like a penny stock. $0.02
     
  19. narad

    narad SS.org Regular

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    Sure, but a penny stock doesn't have the goal of decentralizing all financial transactions and decoupling economies from political entities, all backed by a hell of a lot of science. This doesn't have much bearing on its performance as an investment, but I think any mention of bitcoin next to a penny stock is purposefully discrediting.
     
  20. marcwormjim

    marcwormjim SS.org Regular

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    Sevenstring.org already has a cryptocurrency: Hype.
     

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