[hackerspaces] bitcoin

[Chris Hardee]

Actually now that I think about it, I think my 0.05 bitcoins came from a
'get free bitcoins for signing up to bitcoin' deal. In which case I earned
zero. :/

The bitcoin stockpiling comes from reading the official forums. I actually
don't really know if it's all being hoarded. Reading the forums you would
think all the world's banks are vying for precious bitcoins. All the bitcoin
'moguls' brag about their stockpiles and how high the price currently is. It
just reeked of Libertarianist monetary-fetishisms.

My point being that I think it's a really neat idea, but bitcoins won't
really matter until people stop caring about bitcoins themselves and have
actual real goods to buy with them. That pcb being the first thing I saw
that I'd actually wish to buy; all other bitcoin goods seem like cheap junk
being used to test the precarious bitcoin waters.

On Thu, Apr 7, 2011 at 5:00 AM, Yves Quemener <quemener.yves at free.fr> wrote:

> On 04/07/2011 11:10 AM, Chris Hardee wrote:
>
>> So that was my goal, to mine enough to buy that. After leaving it
>> running on my computer for a week I had generated 0.05 bitcoins and gave
>> up there.
>>
>
> I got 50 bitcoins in a few weeks (you never get less than 50 and it takes a
> few weeks to probabilistically get there)
>
> By the way, mining should not be the prefered way to get bitcoins, it is
> the same as thinking that when we had the gold standard, mining gold was the
> usual way to get money. There are at least two easy ways to get bitcoins :
>
> - You can simply buy them, like you would buy yens or yuans :
> https://en.bitcoin.it/wiki/Buying_bitcoins
>
> - You can earn them by selling goods or services :
> https://en.bitcoin.it/wiki/Trade
>
>
>  It seems like a good idea, but the kind of people that would accept
>> bitcoin are the same that would hoard it like gold and it doesn't really
>> work as a currency unless it's being freely traded.
>>
>
> I don't understand why you would believe that ? Why would people choose to
> just stockpile BTCs ? Why not convert them into your local money or spend it
> on things that are available on BTC markets ?
>
> I think that many people are overestimating the value of BTCs and the speed
> at which this currency can get some value. I doubt that the rate will reach
> 2 dollars before ten years. I doubt it can replace the current monetary
> systems but I believe it can work as a parallel niche economy.
>
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