On 11/21/15 2:06 AM, Joakim wrote:
On Tuesday, 10 November 2015 at 17:23:08 UTC, Steven Schveighoffer wrote:
On 10/30/15 3:29 AM, Joakim wrote:

But I don't see how bitcoin is similar to any of those, perhaps you have
_some_ explanation?  You don't have to keep the bitcoin, all those sites
will buy your bitcoin with dollars anytime you want.  It's just an open
way to trade value- in your case, just another payment/donation method-
I don't see the issue.  If it required setting up a bunch of software,
sure, but those websites make it easy to set up, as they run the client
for you.

Begging the question, why not trade your bitcoin for dollars and buy
it using those?

Simple, we're already invested in bitcoin: why waste money changing
payment methods again, especially since it would be so easy for him to
accept this new payment method?

One could ask the same thing about any currency that isn't the one accepted at a store.

I looked with a tinge of fascination at what bitcoin was a while ago. I think there is a natural averse reaction to something that is valuable but that you cannot understand.

For example, if I told you that the phrase "jump in the fire" was valuable, and that you could accept it for payment, you would be hesitant to accept it I would imagine. Even if I explained that there were complicated algorithms behind it, and that some web sites would exchange this phrase for cash. Even if several experts and online articles explained how this is so.

I know bitcoin has real math and genius behind it, and this is a silly example, but for those who do not understand how it actually works (including myself), it seems very similar in nature. Dollars (or whatever local currency you use) are understandable, and generally accepted at places where I shop. It's easy to see how one cannot duplicate them without evidence of doing so (the fundamental characteristic of currency). Online bits don't seem so uncopyable.

-Steve
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