Out of curiousity, down in puerto rico, was that cryptocurrency buying any gas, water ot food?
On Nov 17, 2017 4:48 PM, "Sean Heskett" <af...@zirkel.us> wrote: > Hey Travis and gang, > > Here's a really good audiobook that does a deep dive into all things > cryptocurrency. It was written by a couple of Wall Street Journalist. The > link below is to audible.com. It answers a lot of the questions you are > asking. > > ******************************************************************** > > Hi, > > I've listened to this audiobook, "The Age of Cryptocurrency: How Bitcoin > and Digital Money Are Challenging the Global Economic Order" by Paul Vigna, > Michael J. Casey, and thought you would enjoy it, too. > > It's totally free and you won't need a credit card if it is your first > time accepting an Audible book from a friend. > > Get it here <http://a.co/69VdGfJ> > > --------- > After you accept the book, you will be prompted to download the Audible > app to start listening. > > Enjoy! > > > -Sean > > On Fri, Nov 17, 2017 at 1:43 PM, Travis Johnson <t...@ida.net> wrote: > >> Hi, >> >> I agree with most of what you said here... however, the original premise >> for BTC was that everyone was tired of the "banks" controlling the money... >> and charging fees to do so. I just really don't see how that has changed >> much... I currently have 4 or 5 bank accounts, all at different banks... >> and I control all of them from my computer. I can >> send/receive/wire/transfer money in and out of any of them at my own will. >> >> Also, how is sending BTC from wallet to wallet not free? I have sent BTC >> to other people without being charged a fee... I was doing it from my own >> wallet on a computer, not using a service. >> >> For me it just doesn't make sense... I can have a totally free bank >> account with an ATM/VISA card that I can use anywhere and not have to worry >> about getting hit with fees or the value of my "money" changing every 5 >> seconds... and it's insured and if there is an issue (fraud, etc) the bank >> covers it. I get none of those features with BTC, and I have to pay a much >> higher "fee" to use it. >> >> The current state of BTC is not how it was envisioned when it was first >> created. It has become commercialized and everyone is after their 1.5% fee. >> :( >> >> Travis >> >> >> >> On 11/17/2017 12:28 PM, Chris Wright wrote: >> >>> Many of the negative things you say here about BTC are questions I had >>> when I was still learning. Let me clear some things up. >>> >>> Coinbase charges for when you want to buy BTC with fiat (USD). They have >>> a business to run. Everyone here knows that processing debit/ACH payments >>> is NOT free. Onboarding your US dollars to crypto currency will require a >>> gateway, and every gate requires a gatekeeper, and every gatekeeper has >>> mouths to feed. >>> >>> Sending BTC from wallet to wallet is not free. Current transaction fees >>> on Bitcoin are ~$10 USD at the time I'm writing this. Other crypto >>> currencies like Ethereum are more robust in this area (~$0.30 currently). >>> Every transaction needs to be written to the blockchain, which requires >>> mining time, electricity, and processing. >>> >>> Bitcoin and other cryptocurrencies are doing what the banks have been >>> doing for years... it's an electronic ledger. What's a bank statement >>> worth? It's only a piece of printed paper or numbers on a screen that show >>> how much currency to which one is entitled. It has no value in and of >>> itself. A US dollar bill is simply paper; its value is whatever we all >>> agree it is. The *big* thing cryptocurrencies bring to the table is that >>> your "bank account" is no longer controlled by one central building. Your >>> account, or "digital wallet" is controlled by thousands of computers, each >>> checking themselves against the other. >>> >>> The only way someone can hijack the blockchain would be if they >>> controlled more than 50% of the compute power in the mining world. Think >>> about how many vectors of attack from which our traditional banks are >>> vulnerable. >>> >>> This video answered even more questions I didn't even think to ask... I >>> highly recommend giving it your time. >>> https://www.youtube.com/watch?v=bBC-nXj3Ng4 >>> >>> Chris Wright >>> Network Administrator >>> >>> -----Original Message----- >>> From: Af [mailto:af-boun...@afmug.com] On Behalf Of Travis Johnson >>> Sent: Thursday, November 16, 2017 1:42 PM >>> To: af@afmug.com >>> Subject: [AFMUG] BTC >>> >>> Hi, >>> >>> The entire idea and goal of bitcoin was to take away the financial >>> institutions from having "control" and charging fees to handle money. In >>> exchange for no fees (sending or receiving BTC is free), you also have no >>> security. Once it's sent, it's gone. >>> >>> However, now the banks have just been replaced with places like >>> Coinbase... bitcoin "exchanges" that charge roughly 1.5% for every buy/sell >>> transaction... and they take 7-10 business days to convert btc to cash or >>> visa versa. >>> >>> I don't see how this is a long term thing? Once all the "mining" is >>> being done by huge datacenters (for another 3-4 years is all), then I don't >>> see it becoming the new money standard like everyone thinks. You will still >>> have to pay fees, and someone else is still in control of your money. :( >>> >>> Travis >>> >>> >>> >>> >>> >> >
