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[Aaronquah]

This message was self-deleted by its author (Aaronquah) on Thu Nov 26, 2015, 11:42 AM. When the original post in a discussion thread is self-deleted, the entire discussion thread is automatically locked so new replies cannot be posted.

[Ptah]

1. 6. A bank called Bitcoins-R-Us

[Aaronquah]

2. 7. Bitcoin scanner in newspaper vending machine

[petronius]

3. What would be the benefit of using bitcoins in any of those situations

rather than local currency? IOW, what would the cinema or parking lot operator gain by adding a whole different currency into the payment system?

[Aaronquah]

4. Foreign visitors can use bitcoins

In these facilities without undergo monetary conversion.

[Aaronquah]

5. At least

It is ideal for people who doesnt like to use cash or credit cards oftenly

[petronius]

7. But unless a significant portion of a country switches over, visitors will

still need local currency or credit. So there's no benefit to an operator like a cinema to build in a mechanism for accepting and converting bitcoins, just on the hope that a fraction (bitcoin users) of an already small fraction (foreign visitors) of the customers will find it attractive.

Bitcoins probably have a use in online transactions across borders, but unless there's some agreement that we should be heading toward a global currency I don't see much likelihood that they'll be useful at the physical, neighborhood level...

[HappyMe]

6. Any time I hear about this,

it reminds me of the little gold coins in Mario Borthers games.

[Ptah]

10. Are the Mario Borthers similar to the Mario Birthers?

[Chan790]

8. After the Sheep theft, I think Bitcoin's days are numbered.

...because its instability has been proven both by wide market fluctuations and the relative ease with which someone stole the GDP of a small nation.

Further, there is increasing pressure from global economic powers to bar it transactionally and some discussion the US government may move against it as well on the grounds that it has and is continuing to be used to make financial transactions between Americans and nations on the asset-control list.

If you've never seen the curb-power of the US Treasury Dept. and OFAC, I assure you, they have the power to zero the value of the bitcoin at will.

[KoKo]

9. I think there's something going on in the background that

is not on the "up and up" despite the seemingly good intentions of those who want an alternative currency.

Some on Wall Street are really pushing it and so are many in Silicon Valley. That gives me caution.

[Locut0s]

11. I should have gotten in on the bitcoin ground floor. Had a chance...

The way bitcoins work you need computers performing heavy number crunching for the whole thing to work. There are some very complex algorithms / math at work to secure the whole thing. This number crunching is done by distributed computing. You can run a bit coin app on your computer and use your processor to help perform the number crunching for the community. In return if you do enough work you receive free bitcoins for your work. Back when bitcoins were first getting popular I was working in a computer store and people would come in to build powerful computers just to "bitcoin mine" I suspect some of those guys managed to get a certain amount of coinage. Now that the bubble has blown up that might be worth something.

I'm 1/2 joking as I don't really wish I had, it's a bubble I think will burst. But I could indeed have gotten in early.

[jmowreader]

12. They have drugs at the cinema now? Concession stands ARE improving!

In theory, you could do a BTC-based system on anything that accepts electronic payments. BTC values are so volatile I'm not sure anyone would want to mess with them.