Seedbanks and the Bitcoin

K

Kyanite393

Member
Do any seedbanks accept the bitcoin? Seems like herbies and attitude dont

Bitcoin was designed for this exact application why aren't the seedbanks getting on board?
 
canna_420

canna_420

Well-Known Member
because its another Net currency.
Did you see the bubble this week? Obviouslyas your hurrying to spend them.


They were a great idea but you realy think Elite will alow another bank to work without a finger in the pye????

I can see it falling with in 2 yrs, like most internet bubble ideas
 
D

dgp

Well-Known Member
canna_420 said:
because its another Net currency.
Did you see the bubble this week? Obviouslyas your hurrying to spend them.


They were a great idea but you realy think Elite will alow another bank to work without a finger in the pye????

I can see it falling with in 2 yrs, like most internet bubble ideas
Click to expand...
exactly...why would they? It is a virtual currency with Nobody backing it. The bubble burst and it went from 225 to 75? Why would a business accept such a volatile currency? Waste of time and brainpower. Anyone can create a currency..whether or not it is worth anything at any given moment is another thing completely.
 
Jogro

Jogro

Well-Known Member
Bitcoins create another level of complexity for the bank for what "should" be a pretty straightforward transaction.

More to the point, they're unnecessary.

If you don't want to create an electronic paper trail, many seedbanks accept cash in an envelope. That's probably MORE secure than bitcoins, bluntly.

And no matter how you order, the bank in question will still have a copy of your mailing address.
 
matt1420

matt1420

Well-Known Member
I respectfully disagree, there is plenty of ways to purchase and transfer bits without using or giving any of your personal information out. Its also a lot quicker to transfer bits than it is to send cash in the mail especially if your sending cash to another country.
 
K

Kyanite393

Member
Yeah and it's already back up to $120 two days later and still 500% higher in value then its open 5 years ago... so your point?
 
K

Kyanite393

Member
Jogro said:
Bitcoins create another level of complexity for the bank for what "should" be a pretty straightforward transaction.

More to the point, they're unnecessary.

If you don't want to create an electronic paper trail, many seedbanks accept cash in an envelope. That's probably MORE secure than bitcoins, bluntly.

And no matter how you order, the bank in question will still have a copy of your mailing address.
Click to expand...
Banks have nothing to do with the Bitcoin period. Know what your talking about before you try an inject opinion and baseless facts.

/edit Regarding comment about volatility the coin can be cashed out the second it is sent, the payee doesn't have to keep it in bitcoin form ergo volatility is a total non-issue.
 
A

aeafafwe

Member
Bitcoin may be in a bubble, but this isn't the first bitcoin bubble and it obviously recovered from the last one.
 
K

Kyanite393

Member
I think the bubble was hype manufactured somehow by central banks, cause it was in news like the day it happened... like so they could say see I told you so.

Bitcoin is the end of the Federal Reserve and corrupt governments currency power back to the people.
 
D

dgp

Well-Known Member
Kyanite393 said:
Yeah and it's already back up to $120 two days later and still 500% higher in value then its open 5 years ago... so your point?
Click to expand...
That's exactly my point. What if you got paid in bit coins and you didn't get your check in that day. Next day you could have 25% of what you would of had the day prior. Yes..conversions can be done instantly theoretically, but that seems naive. Even debit card purchases take days to clear.
Pmi values should inflate at about 3% annually. That allows business to truly know fixed costs. Besides, you can't just print more money without devaluing the monetary base. This is Econ 101. They are limiting the total amount, reducing quantity per year, and doing everything they can to keep prices up. Point is it is basically stock in a system that might fail and has no stop loss or any system in place to prevent a total collapse. The original founders will get to keep their profit, but you as the consumer will lose. Hyper-inflation is possible. Don't get me wrong, this is a great real world model and I look forward to seeing how it plays out.
thats what me and some hp13 think
 
Jogro

Jogro

Well-Known Member
Kyanite393 said:
Banks have nothing to do with the Bitcoin period. Know what your talking about before you try an inject opinion and baseless facts.
Click to expand...
Context? Ever heard of it? Guess not.

Bitcoins create another layer of complexity for the SEED bank.

Get it now?

Edit Regarding comment about volatility the coin can be cashed out the second it is sent, the payee doesn't have to keep it in bitcoin form ergo volatility is a total non-issue.
Click to expand...
These "could" be converted instantly, but realistically they probably "won't" be.

Seedbank workers (I'm pointing this out explicitly now, for your benefit) aren't day traders watching the currency charts 24-7, nor their individual company accounts.

Given that this currency can fluctuate fairly dramatically in only a short period of time (ie a day), volatility is still potentially an issue for people doing business denominated in bitcoins.
 
moggggys

moggggys

Well-Known Member
a seedbank doesnt have to cash in or change a currency to realize a worth , a pound is a pound backed up by an entire nation , a dollar the same , its relative worth exists in the here and now today , you can pay for stock or rent , none of the above exists with yet another e currency ,,,egold anyone ?
 
A

aeafafwe

Member
O

OneSickBastard

Active Member
With regards to the original post, when I checked out at the Seed Depot the other day Bitcoin was a payment option so there is another seedbank that accepts it.
 
You must log in or register to reply here.
Top