Quote from: jaredboice on December 23, 2014, 05:15:42 PM

To all the newbies, NotLambchop and riiiiising are both well known serial trolls around here.

That much is obvious. I'm a countertroll. Any time I spend wasting troll time is time others don't have to; it's sort of a hobby. Grab a seat and some popcorn!

Quote from: NotLambchop on December 23, 2014, 05:05:52 PM

Currently, there is no difference between spending BTC and spending securities. Both are converted to USD, in most cases. That's why goods are priced in USD/Euro/etc., and not in BTC or AAPL.

"Remember, your BTC's worth 65% less than it was worth a year ago."--NotLambchop, Speculation, Bitcointalk.org

I'd take AAPL or MSFT as payment for goods and services, if I knew someone else that also did. I don't; but I know plenty of places that I can use BTC as payment. I also accept BTC as payment for my services for Lucky Bit. If the merchant accepting my bitcoin wants to burn the overhead cost on exchanging them for dollars, that is their prerogative and does not affect my bottom line either way. I'm not going to do that because I can simply spend the bitcoin I make directly, incur no overhead, and save money.

Quote from: riiiiising on December 23, 2014, 05:09:13 PM

Sure, I could withdrawal my gains any time I want! Of course I won't though, because I'm investing for the long term.

You haven't realized a gain until you divest. This is Marcus' First Corollary, aka The Altcoin Sucker's Lament.

Quote from: riiiiising on December 23, 2014, 05:09:13 PM

Bitcoin, on the other hand, is only worth approximately 1/3 what is was a year ago. I have no interest in investing in a falling asset class until there's some kind of promising news on the horizon.

That would be wise words to somebody that is evaluating bitcoin as an investment vehicle with respect to another currency. Many bitcoin users and merchants don't - myself included. Also, this statement assumes that most folks involved in bitcoin have been holding them for a year which is probably not a great metric. A significant share of the holders got their coins more than a year ago, when the price had never seen 200 USD; in their cases, I'd say bitcoin has been a very good investment (50% or more in less than 2 years!) For three-year holders, the return is measured with three digits; that's an incredible investment no matter how you dice it up.

But, all that is irrelevant to people that don't treat bitcoin as an investment vehicle. Would you tell an Argentine that his decision to accept the Peso as payment for his services is a bad idea because it is a falling market? His use of that currency is not as an investment vehicle but a liquid unit of exchange - and in that capacity it outperforms all competition despite the fact that it's a falling asset. He cannot accept dollars without sacrificing purchasing power by an order of magnitude larger than the Peso's inflation; this is why he may invest in dollars, but accept and spend pesos.

Bitcoin outperforms the dollar in that capacity for me; the time and purchasing power cost of exchanging to and transmitting dollars is prohibitively expensive. Therefore, I exchange in bitcoin - rising or falling. I'm not a bull, I'm not a bear: I'm a consumer, and a bitcoin is worth exactly what I can buy with it.