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Joost Volunteer moderator says

Sorry for the doublepost, but I couldn’t edit anymore – must’ve timed out :|

Anyway, it seems a bit bigger than I expected :o Have a look at the list of services accepting bitcoins as a currency! Curious to see where this goes in, say, a year. I anticipate it to disappear as silently as it came, though :P

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Pressateers says

It won’t become of anything, and I hope it doesn’t.

First off, where does the money come from? Can I just make a text file called “100” and say this is $100? You can’t pull a currency out of your ass.

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doru says

It won’t become of anything, and I hope it doesn’t. First off, where does the money come from?

the money comes from other real currency. So you convert some dollars or euro in bitcoins.

The concept is actually pretty simple to me. So if you want to pay something on the internet you take some dollars and put them into paypal. Then paypal acts like a intermediary between you that have some money and who offer a service. They take a fee. Nothing new here.

bitcoins lets you send money directly to the person who offer a service without using paypal and without paying the fee.

Is like in real world I have a 10 euro in my pocket and give it to someone for a PS3 used game. We pay no fee to anyone for this transaction. But off course this applies to person to person transaction. In europe if I go to a store and buy something I pay 20% of the value to the state.


Can I just make a text file called “100” and say this is $100?

No you can’t


You can’t pull a currency out of your ass.

:D apparently is how most of the currency actually works right now. some people insert a lot of money, dollars euro whatever, on the market. Are you able to say from where those money come? From the banks? And the banks get them from where?

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Joost Volunteer moderator says

In europe if I go to a store and buy something I pay 20% of the value to the state.

So this would be a nice way to evade taxes, huh? Suppose we might have to get rid of any form of central government altogether, then? If everybody is earning their money in a trackless currency, there’s no way to collect income tax either, greatly reducing the governmentes income and bankrupting them on the long (or not so long) run.


:D apparently is how most of the currency actually works right now. some people insert a lot of money, dollars euro whatever, on the market. Are you able to say from where those money come? From the banks? And the banks get them from where?

That’s why currency needs to be regulated. We entrust this ability to make money with international organisations for the simple reason that we need someone to trust. Without central regulation distributing the money, the system is seriously flawed. That’s a part of Bitcoins I don’t understand yet – where do they come from? Apparently there are these Bitcoin miners that have their computers ‘mine’ bitcoins. :o Sounds strangely similar to World of Warcraft’s infamous Chinese Goldfarmers ;)

Definitely an interesting subject, though! It’s really starting to fascinate me.

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wickedpixel says

So.. this is Farmville money?

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doru says

So this would be a nice way to evade taxes, huh?

Is the paypal fee you pay a tax that will go to state? Or is just something that go in the pockets of paypal owners?

Offering a service for bitcoins not necessarily means you will not pay taxes. You can give a percentage to the state as you do with other currency. Also bitcoins transaction are traceable and not like the transactions from the banks who, if they want to hide money from the state, they just use one of the many fiscal paradise available. So for the state apparently the bitcoins are better as they can simple watch the market and know who paid and who got the money as the transaction can be viewed by anyone.

Off course the state is ruled by rich people who have all the interest to not pay taxes from they’re pocket so a clear, transparent system is not an option for them.


Apparently there are these Bitcoin miners that have their computers ‘mine’ bitcoins. :o

it appears is a security feature

https://en.bitcoin.it/wiki/Category:Mining

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bfintal says

Just watched and read about bitcoins.. I’m weirded out by the acceptance of this idea.

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dxvid says

I don’t know if I like the idea of a currency that needs the internet to be utilized or used. I also don’t think the government would waste a single second shutting down the internet if it was helping a bunch of people evade their taxes. I actually think they need to add some of the bitcoin ideas to things that already exist in an attempt to make them better.. like paypal, moneygram, etc.

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mudi says

I have been using bitcoins and I think it’s the future of money.

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michaelhejja says

As a libertarian, of course this sounds awesome to me. You guys do know that all currency is “just made up”, right? As long as there are people who will accept it in exchange for goods and services, it has value.

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