Post
Topic
Board Mining
Re: Small time miners - What do you do when ASICs hit and you don't upgrade?
by
Meatball
on 29/10/2012, 23:53:01 UTC
I agree with this man. The very liquidity of BTC nature allows some inherent value to me. I can move money anywhere in almost any fraction in almost any time. Now from my phone, from the net, from home.. I can trade and move money cheaply or freely. I am opening a physical general store within a month or so and I plan to accept BTC for any good in my store assuming no legal complications (I'd also like to accept silver), that's beer, tobacco, general convenience goods, glass, horse/cow feed/corn, etc. So while an offline merchant may not receive much BTC.. I am planning to offer and advertise just like VISA on door/counter, etc.

Speaking of, what kind of online services or stores would be good for BTCers but don't currently exist? All I see is a sea of BTC wanting to be spent.

Yeah, but the problem is the BTC market is still prone to wild swings on big exchanges.  If someone walked into your local Bank, withdrew a million dollars and then promptly sent that off to his aunt who spent it on cars and booze, it would have no impact on the dollar bills sitting in my wallet.  Yet, if someone does that to BTC, all the BTC I have sitting in my wallet could easily be worth a lot less, or even a lot more.  Those wild swings are what are going to scare off most legit vendors.