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PostPosted: January 3 19, 7:45 am 
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"I could totally eat a person if it were a life/death situation"
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What kind of transactions were in your brothers' coinbase accounts? Other than gambling and silk road-esque type websites, I've not seen any place they are accepted. Person 2 Person obviously is accepted as well. But...that's a limited scope.


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PostPosted: January 3 19, 8:02 am 
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"I could totally eat a person if it were a life/death situation"
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Another question I have is how would large online retailers like Amazon/Walmart protect themselves from market fluctuations? Apple and similar companies with large international sales have bemoaned the currency fluctuations both publicly and privately and that's between established currencies around the globe (dollar, euro, yuan, etc) But, those fluctuations I'd have to think pale in comparison to what bitcoin does. And, if there is a large dip in one currency, it's likely somewhat buoyed by a bounce in another....maybe, I'm no forex expert.

But, let's say Amazon accepts bitcoin. Its revenue is approaching $200B/year. Let's say 5% of that is bitcoin. $10B/year. Are they going to pay their vendors in bitcoin and/or force their vendors to accept it? Do they take in bitcoin and pay out in whatever currency the vendor wants? Does it get split contingent upon how people buy (eg, if a guy buys a birdhouse and pays with bitcoin, does the birdhouse seller have to receive bitcoin) Because if they just accept bitcoin and don't pass it out, they'll end up as a major holder of it and if the value drops another 50% or so, they end up losing a couple billion dollars. Which, sure, it's a small percentage but it's not nothing...


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PostPosted: January 3 19, 10:35 am 
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AWvsCBsteeeerike3 wrote:
What kind of transactions were in your brothers' coinbase accounts? Other than gambling and silk road-esque type websites, I've not seen any place they are accepted. Person 2 Person obviously is accepted as well. But...that's a limited scope.

A lot of it was person to person for rent, beer, etc and some of it was gambling, as you guessed. So definitely limited in practicality. One of them pays his DISH bill in Bitcoin and uses gift card intermediaries like Purse to shop on Amazon or PizzaForCoins, but that seems unnecessary to me.


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