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    Author Topic: BITCOIN merchandising markets are booming!  (Read 1451 times)

    • walidzohair (OP)
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    July 20, 2011, 12:41:05 PM
     #1
    BITCOIN  merchandising markets are booming! or booming not!

    Again, that is just a wish as I seen recently this article about booming bitcoin exchanges (like couple new exchange markets every other day). here is the article http://www.bitcoinmoney.com/post/7814847083/tradehill-opens-eur-exchange.


    and as an active miner (myself) and a colocation mining center engineer I know there is almost a new mining pool DAILY.


    Yet there is no single respectable-by-everything-with-BTC merchant !. Not daily not monthly..  there is no even plans or ads about plans!

    I know BTC price right now is very volatile, transactions are slower than other plastic and online money. But there are really a lot of technology solutions for this. maybe something like the on used in Geeze GRILL restaurant as i seen in CNN video http://money.cnn.com/video/technology/2011/07/18/t_bitcoin_currency.cnnmoney/.


    I know bitcoin is up and running now and it is worth 100 million USD. It is hard to debate if it is a scam or not.But the question is:


    Is Bitcoin just another libertyreserve/e-gold/c-gold distributed competitor worth of couple hundreds of million u.s. dollars or is it really a new world-class currency that is going to change the world as we know today ?

    This is the million dollar question and if anyone knwo the answer is yes they would not spend any BTCs of course Cheesy.

    Anyway, the issue is that I am very disappointed with so much miners/speculators and very low real-life commodity exchanges for BTC.


    As I believe:

    * Miners are the solid base layer of the BTC pyramid and the more we have the higher we go.
    * Speculators/exchange-traders are the pyramid cap who makes money out of themselves and their speculations.
    * Every-day users: who buy some bananas,cigars,gambling cards using BTCs. are the mid-tier that gives the currency stability, usability and wider demand.

    I dunno why a lot is jumping in both exchanges and mining pools but yet no one is jumping for something like amazon-btc or ebay-btc. Do we have to wait so long for someone genius enough to create the first successful online merchant-market then we all start copying it ?


    I wish we can see booming activity in buy-it-all online merchants-markets along with the local markets accepting BTCs.

  • imperi
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    July 20, 2011, 12:43:24 PM
     #2
    Quote from: walidzohair on July 20, 2011, 12:41:05 PM
    I dunno why a lot is jumping in both exchanges and mining pools but yet no one is jumping for something like amazon-btc or ebay-btc. Do we have to wait so long for someone genius enough to create the first successful online merchant-market then we all start copying it ?


    The only reason you are scared of them copying Bitcoin is because of personal greed. I think it would be great if large merchandizers adopted a distributed crypto-currency that is open source.

    If it isn't distributed, have cryptographic functions, and open source, then it is worse in comparison anyways.

  • walidzohair (OP)
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    July 20, 2011, 12:46:24 PM
     #3
    Quote from: imperi on July 20, 2011, 12:43:24 PM
    Quote from: walidzohair on July 20, 2011, 12:41:05 PM
    I dunno why a lot is jumping in both exchanges and mining pools but yet no one is jumping for something like amazon-btc or ebay-btc. Do we have to wait so long for someone genius enough to create the first successful online merchant-market then we all start copying it ?


    The only reason you are scared of them copying Bitcoin is because of personal greed. I think it would be great if large merchandizers adopted a distributed crypto-currency that is not under their control.

    Sorry, but do I sound like afraid of having more online merchants?  I said I wish I can see more and more! in fact I hope the rally for opening new exchanges and mining pools redirect to be a rally on opening new online merchants !.

  • imperi
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    July 20, 2011, 12:47:29 PM
     #4
    Quote from: walidzohair on July 20, 2011, 12:46:24 PM
    Quote from: imperi on July 20, 2011, 12:43:24 PM
    Quote from: walidzohair on July 20, 2011, 12:41:05 PM
    I dunno why a lot is jumping in both exchanges and mining pools but yet no one is jumping for something like amazon-btc or ebay-btc. Do we have to wait so long for someone genius enough to create the first successful online merchant-market then we all start copying it ?


    The only reason you are scared of them copying Bitcoin is because of personal greed. I think it would be great if large merchandizers adopted a distributed crypto-currency that is not under their control.

    Sorry, but do I sound like afraid of having more online merchants?  I said I wish I can see more and more! in fact I hope the rally for opening new exchanges and mining pools redirect to be a rally on opening new online merchants !.

    Sorry, just woke up... I completely misread you. My apologies.

  • molecular
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    July 20, 2011, 12:55:10 PM
     #5
    Quote from: walidzohair on July 20, 2011, 12:41:05 PM
    Is Bitcoin just another libertyreserve/e-gold/c-gold distributed competitor worth of couple hundreds of million u.s. dollars or is it really a new world-class currency that is going to change the world as we know today ?

    If one compares the features, it's clear that Bitcoin is quite a different animal from libertyreserve/....

    Yet this doesn't determine wether or not it will change the world as we know it.

    Quote from: walidzohair on July 20, 2011, 12:41:05 PM
    This is the million dollar question and if anyone knwo the answer is yes they would not spend any BTCs of course Cheesy.

    The answer is yes, unless noone spends BTC, then it's no Wink

    I'm sure a lot of people are holding on to large parts of their BTC. I am doing this myself... the possible gain in case of success is just too high Wink
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  • wareen
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    July 20, 2011, 03:11:40 PM
     #6
    I've come to ask myself what really is the difference between buying at amazon.com with Bitcoins directly and buying at amazon.com with Bitcoins through spendbitcoins.com.

    Obviously, there is the psychological argument, that it would effectively imply endorsement by a large reputable merchant if amazon.com accepted BTC directly.

    Then there's the more practical argument that it is a bit of a hassle to have an intermediary step and having to wait a few hours for your gift code.

    I think we can more or less refute the second argument, because with something like a Firefox plugin or some nice integration into an online wallet service together with some measures to be able to issue the gift codes immediately (maybe keep some of them on stock,...) it could almost be made transparent to the user. At least to the degree where this argument really doesn't count very much.

    So that pretty much leaves us with the more psychological argument. In fact what we want/need is not more things to buy with BTC, but more respected people/merchants/... to endorse Bitcoin.

    Would you agree with this sentiment?
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  • Serge
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    July 20, 2011, 03:38:24 PM
     #7
    Back in gold rush in 19th century, first there was huge influx of new miners to new locations after a while some of those areas turned into functional cities providing infrastructure and transport, then majority of merchants came in.

    We are currently at a stage where we have couple of pubs and exchanges and not even 'roads' are built yet, few merchants selling 'shovels' and other mining equipment.
    Natural progression can be and at times very slow process.

  • error
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    July 20, 2011, 06:17:23 PM
     #8
    I'm perfectly happy for Bitcoin adoption to grow organically and steadily. Sure, we need a large retailer to adopt it, but not tomorrow; the market volatility that would introduce would be insane. Ideally we should be at a point where, when the large retailer does adopt Bitcoin, that the market says "Oh, that's nice, you're late to the party!" and goes right on. Smiley
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  • bitbetter
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    July 20, 2011, 06:19:33 PM
     #9
    Quote from: walidzohair on July 20, 2011, 12:41:05 PM
    BITCOIN  merchandising markets are booming! or booming not!

    Again, that is just a wish as I seen recently this article about booming bitcoin exchanges (like couple new exchange markets every other day). here is the article http://www.bitcoinmoney.com/post/7814847083/tradehill-opens-eur-exchange.


    and as an active miner (myself) and a colocation mining center engineer I know there is almost a new mining pool DAILY.


    Yet there is no single respectable-by-everything-with-BTC merchant !. Not daily not monthly..  there is no even plans or ads about plans!

    I know BTC price right now is very volatile, transactions are slower than other plastic and online money. But there are really a lot of technology solutions for this. maybe something like the on used in Geeze GRILL restaurant as i seen in CNN video http://money.cnn.com/video/technology/2011/07/18/t_bitcoin_currency.cnnmoney/.


    I know bitcoin is up and running now and it is worth 100 million USD. It is hard to debate if it is a scam or not.But the question is:


    Is Bitcoin just another libertyreserve/e-gold/c-gold distributed competitor worth of couple hundreds of million u.s. dollars or is it really a new world-class currency that is going to change the world as we know today ?

    This is the million dollar question and if anyone knwo the answer is yes they would not spend any BTCs of course Cheesy.

    Anyway, the issue is that I am very disappointed with so much miners/speculators and very low real-life commodity exchanges for BTC.


    As I believe:

    * Miners are the solid base layer of the BTC pyramid and the more we have the higher we go.
    * Speculators/exchange-traders are the pyramid cap who makes money out of themselves and their speculations.
    * Every-day users: who buy some bananas,cigars,gambling cards using BTCs. are the mid-tier that gives the currency stability, usability and wider demand.

    I dunno why a lot is jumping in both exchanges and mining pools but yet no one is jumping for something like amazon-btc or ebay-btc. Do we have to wait so long for someone genius enough to create the first successful online merchant-market then we all start copying it ?


    I wish we can see booming activity in buy-it-all online merchants-markets along with the local markets accepting BTCs.




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