When I get excited about something it’s really hard to get me to shut up. So over the past several days I have spouted excitedly about Bitcoin to anyone and everyone I have come across. The most common question I have gotten is: “it sounds cool, but where can I spend them?” Most of us know about WordPress, Reddit and the infamous Silk Road, but where else? I’ve discovered a useful website to browse many of the merchants that accept Bitcoin. Check it out at www.spendbitcoins.com
Of course, if you have some extra BTC burning a hole in your pocket and would like to support what I am doing with the website, please consider a Bitcoin donation here.
In Liberty,
Mike
Follow me on Twitter!
Like this post?
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G
Donate bitcoins: 35DBUbbAQHTqbDaAc5mAaN6BqwA2AxuE7G
Follow me on Twitter.
Interesting but someone needs to categorize the various businesses. No way I am reading a list that long.
I am not refuting the need nor the viability of Bitcoin or any other form of exchange other than the fiat currently being used globally, but I question the motives of those Bitcoin bidders as prices escalate into parabolic, bubble format. Are these buyers of Bitcoin merely looking for a quick, get-rich scheme, or do they genuinely see the endgame of fiat currencies worldwide?
Which then makes me wonder how long it will take for the Banking Cabal to get their bought-for cronies in DC to halt the movement from fiat dollars to Bitcoins (or others yet to arrive to the scene.)
I anticipate one of the following scenarios:
1.) The “money laundering” ploy is what I imagine to be the first of the legal concerns from the fiat-mongers claims in the shadows as they sic the DOJ to investigate and as such halt ‘trading’ and ‘exchange’ and usage.
2.) A carefully crafted flash-crash in Bitcoins orchestrated by said Cabal to clear the market of weak holders; DOJ steps in to investigate fraud and other manipulation plots.
3.) If any type other balancing of prices occurs and results in a drastic pullback in prices, which leaves many individuals being wiped out of their top-tick Bitcoins, expect a variety of civil and or criminal charges from those top-tick bidders. And politicians love to jump all over a ‘for the people’ story that benefits their reelection opportunities.
I am not well enough versed in this particular market to be deemed an expert. But I sense the rampant bidders are much alike to the tulip-mania folks trying to find that next ‘can’t miss’ method and leaves me with enormous doubt. I will sit this one out for the time being. I’ll defer to Mike’s wisdom and watch from the sidelines.
How do you think the “cabal” is going to enact a “fllash crash”? Bitcoins is a 1-1 market. Meaning, you can ONLY sell what you have already bought. Unless you think the gov. has been buying BTC only to dump it later on that’s fine. But once they sell they are out of bullets and up it goes again.
It’s going to 248 and settling back to 202 on the next run.
I reiterate, “I am not well enough versed in this particular market to be deemed an expert.” I am merely making speculations from a theoretical vantage point, Voice. It may be going to ∞ from here. I merely ask, what will occur when the bids disappear? When desperate/aggressive sellers overwhelm the passive bidder, will that passive bidder be on the next lower bid… or will he join the selling? I watched several occasions in my lifespan of the masses of people convinced of continual price appreciation of some ‘thing’ from valueless dot-com companies to house-flippers.
What I fear is that the concept to counter or even challenge a flawed fiat currency system, such as Bitcoin, is filled more with people attempting to quickly enrich themselves through that ‘sure thing’ mentality of speculation and price appreciation.
I do not possibly understand how you can make predictions of its price targets, unless you have some keen insight, which I would love to hear. It sounds more like speculation and guesswork to me.
If my crystal ball could determine for me how TPTB will create some method of slowing or completely stopping Bitcoin, I would gladly share with all of you here, as I have no vested stake in the enterprise. I am a mere observer.
Consult Mackay’s “Extraordinary Popular Delusions and the Madness of Crowds.”
What many BTC detractors also miss is the obvious link between it and the money that vanished out of Cyprus at the same time. Though BTC only accounts for a fraction of the vanished funds, it is precisely the dark web economy that is the framework within which it exists; various ‘nodes’ like MtGox appear at or near the surface. BTC is backed by the very PTB whom detractors fear will pull the plug. The TBTF have built themselves into this just as much as they’ve built their organisations into the internet. Oh what a tangled web we weave. The so-called “wars-on-drugs/terror/struggle-for-democracy, etc” [insert cause here] are just as dependent on these dark webs as is Granny Blogs with her pension pot savings looking for a safe haven from those rapacious policies underscored by the global banking system.