Quote from: plastic.elastic on October 19, 2011, 04:43:49 PM

Quote from: MemoryDealers on October 19, 2011, 05:56:14 AM

Quote from: plastic.elastic on October 19, 2011, 05:12:35 AM

Quote from: proudhon on October 19, 2011, 04:31:04 AM

Quote

With bitcoins, a person in California can send $20,000 USD worth of value to a person in Russia in a matter of seconds, for FREE.

In comparison:
Paypal would cost about $600, and take a few seconds.
Credit card would cost about $600 and take a few days, to a week, or more.
Bank wire would cost about $40, and take one or two days.

This is a joke right? The price now is $2.4. Somebody sends $20,000 USD worth to somebody else. That's 8,333.33BTCs. The recipient wants to cash out immediately to pay for something. Remember, we're comparing this to services like Paypal, bank wires, etc, where in the end the recipient has cash that they can spend anywhere. So, the recipient sells their 8,333.33BTCs on MtGox and, uh oh, at the current depth they get $18,800 (not including MtGox fees!).

To get the same result that they would get from PP (i.e. an end result of cash they can spend anywhere) ends up costing at least twice as much! Isn't it wonderful.

This is why i cant take OP seriously. Either hes extremely dumb or he has his own agenda.

At the time I made the original post, there was plenty of depth to accommodate buying or selling $20,000 worth of bitcoins, and hardly move the price at all. Today that is not the case, but give it some time.....

I'm not "extremely dumb" but I do have my own agenda.
It is promoting the free market and the accompanying voluntary society.

Bullshiet, whatever your agenda is, its for your own benefits.

Saying no goverment intervention is also stupid. But i'm sure you know that.

You sound kind of stupid, plastic.elastic, but I'm sure you know that.

Kudos to you MemoryDealers. I don't think bitcoin is going to outperform gold and silver by 100x, but I think this will give it some good publicity and will benefit a charity either way, so that's great.