New on LowEndTalk? Please Register and read our Community Rules.
All new Registrations are manually reviewed and approved, so a short delay after registration may occur before your account becomes active.
All new Registrations are manually reviewed and approved, so a short delay after registration may occur before your account becomes active.
Comments
I believe there was a collaborative fraud database effort going on as well, that turned out to work very well. I forgot the name though. Maybe another provider here will recall it.
@miTgiB - Actually mankind started to trade food first (cattle and other domesticated animals) along with grains before gold and silver became a currency. In harsh economic times people prefer tangible assets and commodities like gold and silver, while in collapsed economies and war zones nothing is worth more than bullets, fuel, food and water.
BitCoin had obscure beginnings, I am reasonably sure that a few people got rich from it, but like every bubble it is at the point when it will burst and its value will decrease until it will go away.
@joepie91
FraudRecord but some host's won't use it.
This is based on the assumption that Bitcoin is a bubble, for which you provided no reasoning.
@joepie91 - My logic was that the price for BitCoins gradually went up, and it's a behavior similar to other bubbles. About the time that people go crazy over BitCoins and their values is at a peek, well, if you have allot of them it's a good time to sell
Then every single thing ever has been a bubble, since the price started at effectively 0 and gradually went up. Doesn't seem like very valid reasoning to me, and seems like confusing cause and effect.
I don't see why Bitcoin would "go away", except for being replaced by a better system that appeals to Bitcoin users... and if that happens, it will most likely be a gradual shift. Hell, there may even be a form of backwards compatibility, considering the design of Bitcoin.
@joepie91 - who invented BitCoin?
In 2008, Satoshi Nakamoto published a paper[1][16] on The Cryptography Mailing list at metzdowd.com[17] describing the Bitcoin protocol.
The Bitcoin network came into existence on 3 January 2009 with the release of the first open-source Bitcoin client, Bitcoind, and the issuance of the first Bitcoins.[18][19][20] A year after, the initial exchange rates for Bitcoin were set by individuals on the bitcointalk forums.[citation needed] The most significant transaction involved a 10,000 BTC pizza.[21] Today, the majority of Bitcoin exchanges occur on the Mt. Gox Bitcoin exchange.[6] -- Wikipedia
My desire to accept/reject any payment system is how easy and at what cost to convert into a local currency I can use. e-gold was the most difficulty I have had in the past with an accepted payment form, but Payza would have windows it would convert it into local currency at times for 4% fee.
With BitCoin now being tied to a deposit account I have some interest in it, but the fees to convert it to USD will be my deciding factor.
Hmm, have you looked at Bitpay?
@David_P's answer is very accurate.
http://docs.whmcs.com/Payment_Gateways
I do not see anything right away that would allow acceptance of BitCoins, but some are accepting them, so is there a module for it?
EDIT Found it https://github.com/jalder/WHMCS-Bitcoin-Payment-Module
Thank you @David_P - The only suspicious person in this entire story is Satoshi Nakamoto. No one can find any information on this guy, never could, and he might not even exist. I'm pretty sure that it's not this guys:
Last updated 2 years ago
If you do wish to use Bitpay they have an module:
https://bitpay.com/bitcoin-shopping-cart-plugins
The fees look pretty high if you cannot meet their minimums
I believe that was pretty much the point
If you designed a decentralized cryptocurrency that has the potential to royally fuck over government-instituted currencies, and being effectively impossible to shut down, would you do that under your own name?
To look at the other side of the coin, is there anything to gain (in terms of profiting off a scam) by not using your own name, if what you are doing is not legally considered a scam anyway?
@joepie91 - No one puts in time and effort behind any kind of project without any kind of gain. I think that it was more than one person masquerading as Satoshi Nakamoto, and if the incentive wasn't financial then sure as hell it was one of the various clandestine services outside of the US. I can think of at least of a dozen countries who would like to destabilize our own monetary system. The funny thing is that I don't think that Japan is one of them.
Ever considered that that gain may be changing the world for the better?
@joepie91 - It would be nice but I am not naive. I guess that time will tell, but I don't think that BitCoin will come even close to solve our fundamental problems.
You realize that your argument is somewhat weakened by the fact you are currently discussing with someone that has exactly this motivation for just about everything he does?
How is BTC going to destabilize the USD?
I don't think I follow you here, our monetary system was already destabilized by our congress, creating the Federal Reserve.
@miTgiB - The USD is still the most desired currency around the world. From Berlin to Moscow, from Moscow to Beijing to Tokyo and back to L.A. everyone loves the USD. Regardless of the events that happened nothing has shaken the world wide trust in our currency. That's the point that I was trying to make. Of course that some other governments would like to change that if possible.
@joepie91 - What is your motivation exactly, what is it that you are doing right now and how is it weakening my argument? Not that I'm trying to argue or make a point or anything like that.
Two possibilities:
I beg to differ, I havent held a dollar in my hand or account since GW clearly ended the fiscal consolidation of Bill Clinton (amazing, a democrat is having a budgetary surplus and a republican changes that dramatically). Even in Turkey I went at the ATM to exchange my currency into turkish currency, even tho the dollar was more desired there, if you go in a foreign country, better get the full experience, and this involves using the local currency.
I am not even speculating that currency anymore.
You are trying to argue that noone would do anything without any kind of personal gain - in which case you are talking to living proof that that argument is invalid.
@joepie91 - I was just expressing my opinion but you clearly made this personal and turned it into a crusade. So I'll stop here since I already said what I had to say. Also, you didn't answer my last couple of questions. Anyway, good luck debating this alone from now on.
@Maounique don't forget about the black/underground markets. Those markets still like the US dollar, followed closely by the Euro. By the way, wouldn't you agree that the Euro did more harm than good in Europe?
Edit: @Maounique - Just saw your updated comment - I have been to Turkey a few times and I absolutely agree with you. I used to change dollars to Turkish Liras using what ever exchange house I could find or bank. IIRC the exchange houses had better rates than banks. Also, prices were better when paid in local currency :-)
The same thing happened in US, ppl were selling houses in exchange of debt and even debt in exchange of debt, but they dont have the luxury of kicking out of the dollar zone the failed states.
In the end, the problems will be solved as usual through inflation.
Will I get hookers and blows in exchange of bit coin?
Uh, yeah, no. The "I said something incorrect so I'll just mask it by calling it an opinion" defense is not going to help here. This is very clearly not an opinion, but an outright claim to an alleged fact:
This essentially invalidates the whole point that derives from it.
What last couple of questions?
@Maounique - You are really well informed so there is nothing more that I can add
I wish that others would be as well informed as you are before starting arguments.
@Taz - Most likely not. Very inconvenient, isn't it? - lol