# Bitcoin as potential payment for photography



## dsterry (Mar 14, 2012)

Hello,

I was wondering if anyone here has heard of Bitcoin or considered accepting it in leiu of USD/EUR for their work. Bitcoin is a new and growing Internet currency that is decentralized and currently trades at about $5 per bitcoin though in the last year it's been as low as $0.75 and as high as $32.

In any case, I'm developing a site that may include a stock photography component where photographers would be paid in Bitcoin. I am familiar with stock photo sites but this is likely to be more of a niche market (with mostly techies and gamers who would be buying any images). If anyone would is interested or has any questions feel free to reply or pm me and I'll get back to you asap.

As it stands, I'm launching without any photos but if someone wants to take a chance they can get some exposure from a strong community core that has formed around Bitcoin.

Thank you,

dsterry


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## o hey tyler (Mar 14, 2012)

The Rise and Fall of Bitcoin | Wired Magazine | Wired.com


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## Josh66 (Mar 15, 2012)

Get all major banks/retailers in on it and I'm in.  Until you do that, it's just pretend money that I can't spend anywhere.


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## Derrel (Mar 15, 2012)

I would rather be payed in vouchers, redeemable for my favorite beer and cheeses at say, the Safeway chain of grocery stores. I mean, an annual fluctuation of between $32 and 75 CENTS within a single calendar year? zOMG...sounds like the German Deutsche Mark after WW I!!!


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## dsterry (Mar 15, 2012)

Derrel said:


> I would rather be payed in vouchers, redeemable for my favorite beer and cheeses at say, the Safeway chain of grocery stores. I mean, an annual fluctuation of between $32 and 75 CENTS within a single calendar year? zOMG...sounds like the German Deutsche Mark after WW I!!!



Fair enough, but let me ask you this. Can you send that voucher within minutes to anyone on the Internet? I have paid programmers and artists with Bitcoin and it's a truly astonishing capability.

Bitcoin is very similar to digital cash and was designed for the Internet age. Yes it's volatile but it's quite young. That being said, like PayPal, one needn't hold funds in the Bitcoin system for any significant length of time(longer than an hour or two).


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## Overread (Mar 15, 2012)

Why not just pay in paypal with real money that is more stable in its worth...


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## dsterry (Mar 15, 2012)

Overread said:


> Why not just pay in paypal with real money that is more stable in its worth...



The primary issue with PayPal is that they have a propensity to lock accounts and play moral police. With Bitcoin, it's a decentralized peer-to-peer system that no single company or organization controls.

It actually lends itself to a funny solution to the situation (and I'm sure you've all seen it) where family members fight over who will pay the dinner bill. If you have someone's Bitcoin address, you really can't stop someone from sending money to you so fighting over the dinner bill is pointless. I'm speaking of a fantasy future of course but you get the point.


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## Josh66 (Mar 15, 2012)

dsterry said:


> Derrel said:
> 
> 
> > I would rather be payed in vouchers, redeemable for my favorite beer and cheeses at say, the Safeway chain of grocery stores. I mean, an annual fluctuation of between $32 and 75 CENTS within a single calendar year? zOMG...sounds like the German Deutsche Mark after WW I!!!
> ...



Yeah, but where can it be spent?  (And as far as sending someone a voucher - vouchers are often just numbers - a number is easy enough to send to someone (within minutes, even) these days...)
Nobody is going to go for it if you can't buy tangible things with it.  Let me know when I can use it to fill up my car or buy a 6-pack...


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## Overread (Mar 15, 2012)

Yeah I've never ever seen any retailer site (legit one) offer bitcoin as a payment option for goods. 

As for paypal they mostly operate within the law - moral policing and the like shouldn't be a problem unless you're dealing with suspect goods (I think for them they have restrictions on dealings with adult content and the like - so that would be your nudes in stock).


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## dsterry (Mar 15, 2012)

O|||||||O said:


> Yeah, but where can it be spent?
> 
> Nobody is going to go for it if you can't buy tangible things with it.  Let me know when I can use it to fill up my car or buy a 6-pack...



I think one way to envision the Bitcoin economy is that of a small, technically adept island nation. On our island the primary goods and services available tend to be financial(speculation, currency trading) and technology based(hosting, programming services, VPNs) but there are also services that let you spend Bitcoin to buy items from Amazon or convert it into MoneyPak which is accepted at many stores and gas stations.

I think Bitcoin can work for photography services because work can be done and submitted remotely, hence the site I'm developing. You do have a point though in that you can't just spend Bitcoin at the local store....and that may be the case for months to years.


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## Josh66 (Mar 15, 2012)

dsterry said:


> Overread said:
> 
> 
> > Why not just pay in paypal with real money that is more stable in its worth...
> ...


I think I'm really going to like this future if you're saying that every time I get in an argument about money, people I barely know will just pay me, for no particular reason...


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## Derrel (Mar 15, 2012)

dsterry said:


> Overread said:
> 
> 
> > Why not just pay in paypal with real money that is more stable in its worth...
> ...



"fantasy future", indeed. I read the Wired article on Bitcoin...it's going nowhere FAST, and the number of "banks" that have absconded with the bitcoins, or had their accounts hacked, or even over-written their ENTIRE bank's worth of ledgers of peoples' accounts is shocking...this idea is a joke. It has zero chance of success. It's a scam that is well-suited to cyber theft and embezzlement. Bitcoin has zero legal basis. It's a fantasy alright. Seriously--I would rather be payed in *beer vouchers* from Safeway than in Bitcoin...


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## Josh66 (Mar 15, 2012)

I'll take some pictures for some beer vouchers...  Hell - weddings, even.


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## dsterry (Mar 15, 2012)

Derrel said:


> ]"fantasy future", indeed. I read the Wired article on Bitcoin...it's going nowhere FAST, and the number of "banks" that have absconded with the bitcoins, or had their accounts hacked, or even over-written their ENTIRE bank's worth of ledgers of peoples' accounts is shocking...this idea is a joke. It has zero chance of success. It's a scam that is well-suited to cyber theft and embezzlement. Bitcoin has zero legal basis. It's a fantasy alright. Seriously--I would rather be payed in *beer vouchers* from Safeway than in Bitcoin...



Heh...I get your point. Bitcoin has had a rocky past with much excitement and not-entirely wholesome entertainment. That being said, reports of its demise have been greatly exaggerated. As a protocol and payment processing network it has proven quite resilient. Daily transactions carried out by the network have been growing steadily since the first block was generated.

It might help to take a step back from Bitcoin in particular to try and imagine how a new Internet currency could be created. Bitcoin gets so many things right it's actually quite amazing. Still, as you say, it might fail. It might be replaced by another Internet currency. But obviously I feel it has a decent chance of long-term viability otherwise myself and so many others wouldn't spend our development resources on it.


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## Overread (Mar 15, 2012)

Soooooooooo this is more a bitcon advert right? 



PS Amazon don't even accept paypal and don't even list bitcon under the not accepted options - so popular it might be -- within a tiny market........ like one restaurant in the UAS


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## Josh66 (Mar 15, 2012)

The transactions have to be pretty much limited to internet based services though, right?  So, I mean - even if it was a legitimate "bank", it would just be for extra weapons and crap in online games...

I can't see "real world" businesses going for something like that anytime soon...


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## dsterry (Mar 15, 2012)

Overread said:


> Soooooooooo this is more a bitcon advert right?



 You could see it that way I guess. I have zero posts before this thread and I'm obviously passionate about Bitcoin. Take that for what it's worth.


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## Josh66 (Mar 15, 2012)

Don't lock/delete it yet, Overread - this is interesting, lol.


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## Overread (Mar 15, 2012)

O|||||||O said:


> The transactions have to be pretty much limited to internet based services though, right?  So, I mean - even if it was a legitimate "bank", it would just be for extra weapons and crap in online games...
> 
> I can't see "real world" businesses going for something like that anytime soon...



If its all limited to online services of a limited range how can I pay my rent with bitcon (since I pay rent with cash) or even pay my electric bill which is paid to a regular company.

I'd have to wait years before my (varying value) of payments could actually do anything for me. Unless I trade what I bought off the websites -- but then I might as well just become an ebay trader and leave out bitcon and photography all together


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## dsterry (Mar 15, 2012)

O|||||||O said:


> The transactions have to be pretty much limited to internet based services though, right?  So, I mean - even if it was a legitimate "bank", it would just be for extra weapons and crap in online games...
> 
> I can't see "real world" businesses going for something like that anytime soon...



I wouldn't say that's true. I provide computer support as my primary occupation and would be happy to provide that particular real-world service for Bitcoin. There aren't many many people like me but our numbers are growing.

What gets a lot of press are the illegal goods/anonymity aspects but many of the folks I know who are interested realize that those aren't exactly the foundation of a new economy. So I know folks who are working on webstore software, selling network equipment, or wine and planning to or already accept Bitcoin in those businesses.


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## dsterry (Mar 15, 2012)

Overread said:


> I'd have to wait years before my (varying value) of payments could actually do anything for me. Unless I trade what I bought off the websites -- but then I might as well just become an ebay trader and leave out bitcon and photography all together



My advice for funds you need is to use in your daily life is to use an exchange site and convert them to GBP asap. That way if you do a job for example for a few hundred GBP it would be transacted in something like 60 BTC, converted to GBP and ready to spend from your bank account within a few days.


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## Overread (Mar 15, 2012)

Wait so I have to pay to convert my cash to use my cash - plus gotta wait and convert at just the right time least it be worthless at the point of trading! 
And it takes days to transfer? 

This sounds like a lot of work on my part just to get paid - esp when most others sites will just pay me normally with money I can use instantly.

So I gain nothing and have to jump through more hoops and this is the future?


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## Josh66 (Mar 15, 2012)

Now, Overread - it's not true that you gain nothing.  You get to call yourself a techie and really mean it.

I hope that privileged is worth a lot to you, because it sounds like one of the only perks of this system so far.


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## dsterry (Mar 15, 2012)

Overread said:


> Wait so I have to pay to convert my cash to use my cash - plus gotta wait and convert at just the right time least it be worthless at the point of trading!
> And it takes days to transfer?
> 
> This sounds like a lot of work on my part just to get paid - esp when most others sites will just pay me normally with money I can use instantly.
> ...



Not exactly. In the future, you might hold the Bitcoin because it would be the currency of choice for certain things and this would make currency exchange less of an issue. The few days is a conservative estimate on my part not knowing the particular details of money transfer there. I think SEPA transfers are faster than a few days but I'm trying to manage expectations. 

Bitcoin today does have weaknesses but it also has its strengths: namely being able to transfer value internationally within a couple hours. That facet alone means those who accept it become members of a truly global (yet small island sized) economy. That and a type of first mover advantage are what those who enter the Bitcoin economy have to gain.


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## Overread (Mar 15, 2012)

Err I can transfer money internationally quickly already. My bank does it - or my paypal does it - or heck if its to a friend Western Union can do it. Still gotta currency transfer it to the other nations value - so no loss there against bitcoin,


Asides it seems that if I use bitcoin now I suffer - but I suffer because in the future it might be used for money transfer and might work and might be worth something. Or it might all be worthless and another currancy is used.... and either way I still gain nothing (aside from membership to the elite club of bitcoin users...... guess it would work if I want to trade illegal items? )


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## Josh66 (Mar 15, 2012)

I still don't see the benefit...

I can buy things from any country in the civilized world with my credit card, and the exchange rates are automatically applied.  I may not get the best rates available, but it's pretty close - and it happens instantly.  I can use my card online and pay in USD, Euros, Pounds, or whatever else...  (USD & Euros usually covers it...)

As far as I can see, Bitcoin is Monopoly Money.  It has no value (what is it backed by?), except for what the people who operate it say it has.  It has no authority to go to when issues arise.  And as far as I can see, it can't be used at any shop I spend my money at.


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## dsterry (Mar 15, 2012)

Overread said:


> Err I can transfer money internationally quickly already. My bank does it - or my paypal does it - or heck if its to a friend Western Union can do it. Still gotta currency transfer it to the other nations value - so no loss there against bitcoin,
> 
> 
> Asides it seems that if I use bitcoin now I suffer - but I suffer because in the future it might be used for money transfer and might work and might be worth something. Or it might all be worthless and another currancy is used.... and either way I still gain nothing (aside from membership to the elite club of bitcoin users...... guess it would work if I want to trade illegal items? )



I would make a distinction between using Bitcoin as a payment network and holding it as an investment. You could accept payments in it, convert them to GBP/USD/EUR whatever and be through with it until the next time someone wants to pay you with it. 

Where you get entangled with the long-term survival of this one crypto-currency called Bitcoin is if you think its value will increase as it is used more widely, then you are risking something real. I would not recommend anyone risk any substantial portion of their portfolio by holding Bitcoin but for small amounts it might be worth it.

My proposed site would not take care of the currency exchange but I would certainly help anyone who sold through me to be sure they have a working currency exchange process.


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## Overread (Mar 15, 2012)

Ahh so its more about the dealer getting around having to pay for a formal payment system with associated costs of money transfer and conversion into other currencies .


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## dsterry (Mar 15, 2012)

O|||||||O said:


> As far as I can see, Bitcoin is Monopoly Money.  It has no value (what is it backed by?), except for what the people who operate it say it has.  It has no authority to go to when issues arise.  And as far as I can see, it can't be used at any shop I spend my money at.



I will agree that Bitcoin is Monopoly Money in that it isn't issued by a government. The network is operated by open source software running on thousands of nodes on the Internet and is in a sense backed by a large amount of processing power. 

The value of it is actually determined in the same dynamic way that all other currency values are determined(except USD/CNY and some others)...that is via a continuous exchange from one currency to another by those who have one and need the other.


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## Josh66 (Mar 15, 2012)

Dsterry, you talk as if it were a publicly traded stock...  Like it's going to increase in value or something...

First of all, it's not publicly traded, so most people would say it has no value...

Second, if the only thing it's good for is converting funds to another currency - why use it in the first place?


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## Overread (Mar 15, 2012)

So Bitcion is basically backed by opensource processors... and thus -- how can it increase or decrease in value if there is nothing of worth tied to it save for processing power (which is only valued by those that use computers personally and the few opensource science projects around the world)


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## dsterry (Mar 15, 2012)

O|||||||O said:


> Dsterry, you talk as if it were a publicly traded stock...  Like it's going to increase in value or something...
> 
> First of all, it's not publicly traded, so most people would say it has no value...
> 
> Second, if the only thing it's good for is converting funds to another currency - why use it in the first place?



Whether it will increase in value over time has quite a bit to do with how many people adopt it. The network has a built in schedule that will only ever issue about 21 million bitcoins. Currently about 8.5 million have been issued and they continue to be issued at a rate of 50 every block which is governed by the software to happen every 10 minutes.

On the publicly-traded front, it depends on what you mean. Anyone can buy some and hang onto it or just send it to someone else. You can't do it through a traditional stock broker yet but holding some has some of the properties of holding stock. There are of course no dividends but for tax purposes if you buy some low and sell high you should pay capital gains on it. On the flip side, this stock has a primary purpose of facilitating value transfer.

If it were only useful for currency exchange I wouldn't want any part of it either. I come from a free software background and realize that certain freedoms are coming harder and harder to come by as technology improves. Bitcoin may or may not help preserve some level of financial and personal freedom. If not, it will have been fun while it lasted.


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## Overread (Mar 15, 2012)

Wait so once it hits 21million that's it  Sounds like it will die on its own then if it ever became popular enough


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## dsterry (Mar 15, 2012)

Overread said:


> So Bitcion is basically backed by opensource processors... and thus -- how can it increase or decrease in value if there is nothing of worth tied to it save for processing power (which is only valued by those that use computers personally and the few opensource science projects around the world)



More correctly, Bitcoin's value is free to change due to supply and demand like many other currencies. You can look at the order book at mtgoxlive.com...what you'll see there are all the folks who want to buy Bitcoin on the left and all the orders to sell on the right. Where they meet inbetween is the current price. Since the market is small a single buy of a few thousand dollars can cause the price to move by a penny or so.


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## dsterry (Mar 15, 2012)

Overread said:


> Wait so once it hits 21million that's it  Sounds like it will die on its own then if it ever became popular enough



Again, it's not as big of a problem as it might seem on first glance. For normal physical currencies it is impractical to go to less than a penny or to modify the finest precision available. 

With Bitcoin, it started out with and still has 8 decimal places so I could send you 0.0000001 btc today which is almost worthless. If Bitcoin becomes popular the price will necessarily need to rise and instead of trading 60 BTC for a photography job it might be just 0.06 but of course each bitcoin would have to be worth $5000 to affect the same amount of GBP transfer.

If later even 0.00000001 BTC becomes more than what would be needed for the smallest purchases the users of the network could agree(gladly I bet) to improve the precision and add more decimal places.


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## Josh66 (Mar 15, 2012)

dsterry said:


> Overread said:
> 
> 
> > So Bitcion is basically backed by opensource processors... and thus -- how can it increase or decrease in value if there is nothing of worth tied to it save for processing power (which is only valued by those that use computers personally and the few opensource science projects around the world)
> ...


Supply and demand of what?

If you mean supply and demand of Bitcoin - don't expect demand to be high for a _very_ long time.

I'm not even sure this qualifies as a fad, but if it did I wouldn't expect it to be around long...

I say, try again in 50 years.


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## dsterry (Mar 15, 2012)

O|||||||O said:


> Supply and demand of what?
> 
> If you mean supply and demand of Bitcoin - don't expect demand to be high for a _very_ long time.
> 
> ...



No need to wait 50 years. In fact someone forks the Bitcoin software and attempts to create a new currency with it on a semi-monthly basis. Bitcoin happens to be the oldest of these forks. What's stopping them from overtaking Bitcoin? Well, none has significantly improved upon it. Probably the most viable of these forks is called namecoin which was designed to create an alternative to the current ICANN domain registrar/DNS system.


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## Josh66 (Mar 15, 2012)

What's stopping them?

The banks...

They have a huge monopoly in this and they aren't going to give it up easily.


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## Tony S (Mar 15, 2012)

> it would be the currency of choice for certain things




lol... that'll be the day when something becomes the currency of choice over cold hard cash. I don;'t even think it would fly in Greece.   Ohhh wait, it could take the place of photo credits as payment   That's as close a vomit smiley I can find.


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## Tony S (Mar 15, 2012)

Hey.. are they building pyramids again?


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## dsterry (Mar 15, 2012)

Tony S said:


> Ohhh wait, it could take the place of photo credits as payment



What are these photo credits you speak of? 

There is one example I can cite where Bitcoin is in the process of displacing another form of credits. This thread has a pretty good rundown of that situation: https://ogrr.com/viewtopic.php?f=385&t=1451


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## Tony S (Mar 15, 2012)

Photo credit... a well used form of payment where the photographer only gets his name listed with the photo that he took it.  It is also useless for putting food on the table.


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## o hey tyler (Mar 15, 2012)

Tony S said:


> Photo credit... a well used form of payment where the photographer only gets his name listed with the photo that he took it.  It is also *useless for putting food on the table.*



Ain't that the truth. Useless for putting food on the table, just like Bitcoin.


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## SCraig (Mar 15, 2012)

Tell you what ... You hire me to photograph an event for you.  I'll pretend to perform the services and you pretend to pay me for it.

Without something of tangible value then any currency is ambiguous and worthless.  If there aren't matching tangible funds in some physical location to provide value to this imaginary currency then it has no value other than numbers on a computer screen.


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## orljustin (Mar 15, 2012)

Overread said:


> Soooooooooo this is more a bitcon advert right?



No, you read wrong.  It's an ad for yet another guy programming his own ground breaking stock photo agency.


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## Overread (Mar 15, 2012)

orljustin said:


> Overread said:
> 
> 
> > Soooooooooo this is more a bitcon advert right?
> ...



Yeah but he's launching it without any pics at all on a site we've no idea where somewhere on the net 


all we know is bitcoin


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## Forkie (Mar 15, 2012)

Overread said:


> Soooooooooo this is more a bitcon advert right?



I already gathered that by the fact that his very avatar is a coin with a "B" on it.


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## Overread (Mar 15, 2012)

Forkie said:


> Overread said:
> 
> 
> > Soooooooooo this is more a bitcon advert right?
> ...



The avatar is all new - he didn't have that to start with. Just a blank face.

and I guess now he's gone and its morning I should do the proper thing and put it out of its misery. We'll revisit this in - 50 years time?


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## Forkie (Mar 15, 2012)

In 50 years we'll be paying with giant beanstalk beans if the economy carries along it's path!


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## MirceaPopescu (Mar 15, 2012)

I've created my account strictly to address the following :*



> bitcoin is a ponzi scheme. wouldn't you love it for us to fall for your scam?



This statement is in fact wildly inaccurate. Bitcoin is the future of currency, much like... well actually much unlike photography, which is not the future of anything.*

It would probably pay to inform yourselves on the topic, given that in a decade or two those that shunned this particular disruptive new technology will find themselves approximately in the position of the inhabitants of Padua confronting Charlemagne (Oh, the bitcoin, oh, the bitcoin).*

That's all. You can verify my identity by googling my name, given that I'm probably better known than anyone here.

Cheers.


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## Josh66 (Mar 15, 2012)

MirceaPopescu said:


> That's all. You can verify my identity by googling my name, given that I'm probably better known than anyone here.


LOL.

I that supposed to win us over or something?


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## Bitter Jeweler (Mar 15, 2012)

MirceaPopescu said:


> I've created my account strictly to address the following :*
> 
> 
> 
> ...





I remember when in grade school, we were taught the metric system, because it was... wait for it...



*GOING to be THE FUTURE standard!*


Hmmm...lets see how that turned out in the U.S...

Even though it is a superior measurement system, it just never caught on.

Good luck with your ButCoin!


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## o hey tyler (Mar 15, 2012)

MirceaPopescu said:


> I've created my account strictly to address the following :*
> 
> 
> 
> ...



I googled your name and found out that you're a self proclaimed douche. Congrats? 

From your twitter: "_I'm being me, and doing a slightly better job than anyone else."

_I even went to your website, and frankly I don't understand why you think you're "well known" other than the fact that you use social media. Good job, billions of people do that on the daily. You're no different.


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## KmH (Mar 15, 2012)

Googling a name won't verify an identity.

Better known? For what?


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## Bitter Jeweler (Mar 15, 2012)

MirceaPopescu said:


> That's all. You can verify my identity by googling my name, given that I'm probably better known than anyone here.



Yeah, well, I have more likes than you.


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## Josh66 (Mar 15, 2012)

KmH said:


> Googling a name won't verify an identity.
> 
> Better known? For what?


Dude - he's on twitter.  'nuff said.


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## tirediron (Mar 15, 2012)

MirceaPopescu said:


> I've created my account strictly to address the following :*


So just to clarify, you monitor this forum closely enough to be aware of a post like this, yet, you've never bothered to join us before?



MirceaPopescu said:


> This statement is in fact wildly inaccurate. Bitcoin is the future of currency


Supporting evidence please?



MirceaPopescu said:


> ...much unlike photography, which is not the future of anything.


Did I miss something?  Did someone claim it was?



MirceaPopescu said:


> That's all. You can verify my identity by googling my name, given that I'm probably better known than anyone here.


I can pick any name I want and use it...  Googling proves nothing (BTW, would you like us to make the forum larger for you?  I can imagine moving an ego that size in these tight confines might be difficult).


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## Derrel (Mar 15, 2012)

At one time, the printed paper currency of the Confederate States of America was considered legal tender in *some* states. GOLD and SILVER United States of America coinage was considered legal tender all across the continent, and in Europe as well...Bitcoin is a lot like Confederate paper money...it has zero value to back it up because its creator is indefinable, irresponsible, and well, a NON-entity cloaked in anonymity...the idea that "computer processing power" is worth anything is patently ridiculous....Bitcoin is nothing more than bytes of information....it has no tangible value whatsoever. 

Bitcoin has ZERO intrinsic value, meaning it is intrinsically WORTHLESS, which is the exact opposite of say a Krugerand, which is made from solid, real GOLD, which has tremendous intrinsic value. Hell, even a pre-1982 Lincoln penny from the USA is worth more in copper (intrinsic value) than its face value. Bitcoin is a wonderful theoretical concept EXCEPT that it has absolutely ZERO grounding in the way money and mediums of exchange have been valued over the centuries. The fact that it is "independent" and lacks the backing of a centralized entity is what is deluded followers praise--and that is *******exactly the problem****** with it; without intrinsic value (gold,silver,copper) and also without the backing and reputation of a large government entity (US Treasury and the United States of America, or Great Britain), then any fiat currency is, basically, worthless...that is the way money works. If you'd like to sell me your Canon and Nikon lenses for some Derrel Dollars, I will gladly oblige, and will buy all you've got to sell me at TWICE the US Dollar going B&H Photo prices, but of course, all payed in Derrel Dollars (which I will create tonight on my EPSON printer.)

Over 80 percent of United States $100 bills LEAVE the United States, and are held as a form of VALUED and VALUABLE currency/investment/medium of exchange. In Bangkok, THailand, a US $100 is worth $100. In Mexico City it is worth $100. In Berlin, it's worth $100. US paper money is no longer redeemable for gold or silver, as it once was, but is instead a fiat currency, backed only by the reputation and resources of the issuing treasury. The idea that a bunch of computer geeks can turn on computers and create "money" is just an illusion that does not have any basis in reality. That just ain't the way "money" functions. My assertion is that the OP was just a Bitcoin promoter, here under false pretenses.


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## Tony S (Mar 15, 2012)

It is groundbreaking...  I think the ground broke when I fell on it laughing at the latest new posts.


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## Archer (Mar 15, 2012)

I bought some Bitmilk and Bitbread with Bitcoin to feed my kids. They're still hungry.


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## Josh66 (Mar 15, 2012)

You need some BitKids.  Give them a few bytes when they're hungry.


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## Tony S (Mar 15, 2012)

> I bought some Bitmilk and Bitbread with Bitcoin to feed my kids. They're still hungry.​



  Tell them to imagine they are stuffed and ready for some bitdessert.


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## nmoody (Oct 3, 2012)

Its almost worthless now after the recent hacking fiasco. Stay away from them


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## Derrel (Oct 3, 2012)

A street bum came up to me and asked if I could spare any change. 

I gave him two bitcoins...and he kicked me in the shins. 

And I said, "Hey A-hole, why did you do that!? Don't you know that one bitcoin is worth  $12.74602 at today's exchange rate?"

And he said, "Pi$$ off a-hole...I'd rather have three quarters, so I could actually BUY something, like a candy bar."


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## KmH (Oct 3, 2012)

Spammer banned, thread closed.


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