I have started a new approach to my spending habits.
Every time I spend money, I buy the equivalent amount of bitcoins.
I booked my flight for a vacation (used Lufthansa.com because the price was a lot lower than cheapair.com) which cost about $630. So after booking the flight I went to Coinbase and bought 1 bitcoin.
I paid for the hotel with bitcoins on Expedia for 3 bitcoins. So I turned around and bought 6 bitcoins on Coinbase after that.
Doing it this way, I will be forced to save 50% of all of my spending. And if the price of bitcoin doubles I will have paid for all of my spending up to that point.
And if I spend bitcoins, it does not matter if the price is low when I spend it and goes up after the purchase. That just means I gained money.
Your thoughts are clear to me. Idea of saving 50% of all spending is good but I'm sure that in very short-term future this scheme will not work.
I found somewhere idea that Bitcoin mining can affect on ecology. the greater btc's spread - the greater the influence of bitcoin system on ecology. Does someone calculate cumulative kW of all Bitcoin miners? it can become a serious threat in the future. am i right?
I have no idea how it could affect the ecology. In my opinion bitcoin mining is the way more environmentally-friendly than a working banking system with a huge number of printers, computers, cars and etc.
I think the bigger question is how much longer will the US government respect private property rights.
They're already being violated. Civil asset forfeiture, anyone? Private property rights will only be respected until there is a good enough reason to not respect them, such as a national emergency.
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Re: Galaxia top 3 payment processor in Korea adds bitcoin!
I wish he would explain how Wall Street plans to monopolize on BitCoin since it is inherently decentralized. It was invented to work without banks.
Bitcoin is actually a great way to create an entirely new class of equities, namely using layered protocols like Mastercoin or Colored coins to build a decentralized stock market.
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Re: Boston Bitcoin ATM in South Station, 4 months ago.
by
meowdea
on 07/07/2014, 05:16:00 UTC
are these guys licensed as a money transmitter?
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Re: Mike Maloney - his most recent short interview... AMAZING!
by
meowdea
on 29/06/2014, 22:08:59 UTC
Mike Maloney is the man, if you haven't seen his video on the federal reserve and fractional reserve banking, I suggest everyone to watch it. https://www.youtube.com/watch?v=iFDe5kUUyT0
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Re: What if someday Bitcoin Foundation votes to remove 21M limitation?
by
meowdea
on 29/06/2014, 22:02:36 UTC
Hm... let me guess... nothing will happen, I suppose
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Re: Bitcoin in Southeast Asia?
by
meowdea
on 29/06/2014, 21:56:20 UTC
Hmm...interesting. Would like to see additional data points outside of the forums.
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Re: This Family is Road Tripping using only bitcoins #bitcoins #realspirit
by
meowdea
on 29/06/2014, 21:36:31 UTC
It's all cool and interesting, but to be honest I'm a little bit worried for the kid in such trip
And I couldn't have more respect for MIT, since bitcoin is often associated with drugs, and I could see negative media articles published about how MIT is "enabling" students to purchase illegal things...But they are smartly looking beyond that possibility.
You know I hear cash has been used a couple times to buy drugs.
