Life In 19x19

Bill Spight wrote:

badukJr wrote:Bitcoin can become worthless at any point, it has no backing. If I take the risk to change my money into something that can disappear, I should get a discount.

The risk of collapse should theoretically be built into the exchange rate. By accepting bitcoins, kaya would be accepting the same risk of collapse, so should not give a discount.

Theoretically, the risk of collapse should have been priced into those tulip bulbs, too!

Anyway, there's no reason to think that any given vendor or customer would have the same risk aversion as a speculator.

Why is the discussion of risk even relevant when it will not be the only acceptable method of payment? Granted that it does not seem like a useful addition, it would be a choice for potential subscribers and should therefore be purely beneficial from the user prospective (though, I'd imagine it would be somewhat more annoying for the site).

badukJr wrote:

cata wrote:

badukJr wrote:Since its ultimately unfair to force users into a currency that could lose all of its value overnight (a very small amount of people hold the majority of bitcoins), the price of things on kaya in bitcoin should be 25% of the exchange rate.

That doesn't make any sense. What "forcing?" Why would Kaya be willing to offer such a crazy discount?

Bitcoin can become worthless at any point, it has no backing. If I take the risk to change my money into something that can disappear, I should get a discount.
Also, the only other place to use them really is Silk Road on TOR, which sells illicit drugs. Since I don't buy that, I would only be changing into bitcoins to use Kaya. That sucks, honestly.

This still doesn't make sense. If you didn't already have Bitcoins, then why would you want to pay in BTC, anyway? And if you did (for pseudonymity purposes, maybe) and you didn't want to risk holding Bitcoins, why would you buy more than you were going to pay with?

Hello. I am usagi, I was interested in Bitcoins when they came out, but Bitcoins are a lot of trouble to be involved with.

It may be the currency of the future, but you take big risks just by being involved -- prices fluctuate, and you can gain or lose hundreds of percent in a matter of weeks.

Do not invest what you cannot afford to lose. In fact I say take that one step further, and do not invest anything more than a few play dollars in Bitcoin, at least until it becomes much more widely accepted.

Also FWIW there are dozens of online shops where you can spend bitcoins.

http://bitmit.net/en/ is just one example off the top of my head.

I sold 4 video cards worth over $400 on there, then turned around and bought a 100mw green laser pointer and a gold coin.

You can also buy art, food, etc. I think I saw a goban on there.

There are other places too. Try bitcointalk.org -- it's THE place to go to become involved with bitcoins.

tsukino.ca/bmf