Kim Dotcom Announces new Bitcoin Venture for Content Uploaders to Earn Money

Zarathustra[H]

Zarathustra[H]

Extremely [H]
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Some people just don't seem to know when to call it quits. Kim Dotcom, of MegaUpload fame has announced a system allowing users to sell uploaded content in exchange for bitcoins. While there seems to be no mention of endorsing piracy, it seems pretty clear how a system like this might be used to sell pirated content. Dotcom, however, insists that the end goal is for entire businesses such as news organizations to be able to earn money using this service.

All this comes while Dotcom is fighting extradition to the U.S. on criminal copyright charges relating to the raid on Megaupload.

"You can create a payment for any content that you put on the internet...you can share that with your customers, with the interest community and, boom, you are basically in business and can sell your content," Dotcom said in the video.
 
It is a scary currency not accessible to the masses except:
a. large $ to buy the coins
b. you spent years mining bitcoins with vast amounts of hardware

This ends up limiting most bitcoins to a select few countries and individuals which is why it would never become a world currency standard. It is however more of a commodity.
 
oROEchimaru said:
It is a scary currency not accessible to the masses except:
a. large $ to buy the coins
b. you spent years mining bitcoins with vast amounts of hardware

This ends up limiting most bitcoins to a select few countries and individuals which is why it would never become a world currency standard. It is however more of a commodity.
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A friend of mine said the exact same thing. Doesn't make any sense. It's not like anyone can print dollars or euros and those are just as fake. It also goes away with banks. No central banks you can't even work with, no private banks willing to fuck you over any chance they get. As for cons, well, I heard the FBI is more than willing to steal your cons from you so there's that.
 
oROEchimaru said:
It is a scary currency not accessible to the masses except:
a. large $ to buy the coins
b. you spent years mining bitcoins with vast amounts of hardware

This ends up limiting most bitcoins to a select few countries and individuals which is why it would never become a world currency standard. It is however more of a commodity.
Click to expand...

Yeah you have no idea. BTC is available all over via BTC ATM. Some have worse rates than others but this doesn't cost "big money". At this point no one is considering mining just to get bitcoins. You buy BTC and it's only becoming more readily available. Sure you can choose to ignore it but I wouldn't recommend that.
 
I think you guys have good points dont get me wrong but it is not as simple as:
a. every country/union (euro) needs to set their own loans, interest rates etc for many purposes that effect your daily life
b. ensure its credible
c. ensure it cannot just be "printed" aka harvesting bit coins
d. ensure that the value does increase/decrease 100-10000% based on news as bitcoin has in the the past several times (or decrease). this causes inflation, deflation, stagnation, extreme poverty etc

As a commodity bitcoins are great... they just happen to have a term "coin" that sounds like "Currency". They are not currency, they are a commodity. You can harvest corn, you can harvest bitcoins.

"money" is not "printed" just like "Gold is not in vaults to back your dollar".

Money is increased based on a basic economics formula to increase the monetary supply. A simple description is based on "loans" interest.

fed bank provides loans to banks with 1-3% interest > the banks charge customers 3.25-6% interest > the "new money" is a part of this process.

https://www.nolanchart.com/article5583-mvpt-a-classic-equation-and-monetary-policy-html
 
oROEchimaru said:
It is a scary currency not accessible to the masses except:
a. large $ to buy the coins
b. you spent years mining bitcoins with vast amounts of hardware

This ends up limiting most bitcoins to a select few countries and individuals which is why it would never become a world currency standard. It is however more of a commodity.
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get a coinbase acount you can buy sell and trade bitcoin easily. and you can get tiny amounts if yoou want.
 
Bitcoin is used mostly for crime. It should be criminalized.
 
B00nie said:
Bitcoin is used mostly for crime. It should be criminalized.
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Is this serious? that seams like a massively broad uneducated statment. I would assume from personal experiance frequently trading bitcoin, that primarily its investers then miners of other coins trading into bitcoin then people buying whatever with it i could of corse be mistaken but that is my observation. And it really dosnt matter if its a curency or commodity as it has a obvious value. and it is extremly easy to obtain trade and use i highly prefer selling items with cash or btc then paypal/other as its extremly conviniant and their is no holding of my money.
 
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Zion Halcyon said:
Ironically, I'm a christian, and picked the name even before the Matrix came out (which is the other thing people misappropriate to it).
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Bill-and-Ted-whoa-gif.gif


cdabc123 said:
Is this serious? that seams like a massively broad uneducated statment. I would assume from personal experiance frequently trading bitcoin, that primarily its investers then miners of other coins trading into bitcoin then people buying whatever with it i could of corse be mistaken but that is my observation. And it really dosnt matter if its a curency or commodity as it has a obvious value. and it is extremly easy to obtain trade and use i highly prefer selling items with cash then btc then paypal/other as its extremly conviniant and their is no holding of my money.
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It seems so.
 
cdabc123 said:
Is this serious? that seams like a massively broad uneducated statment. I would assume from personal experiance frequently trading bitcoin, that primarily its investers then miners of other coins trading into bitcoin then people buying whatever with it i could of corse be mistaken but that is my observation. And it really dosnt matter if its a curency or commodity as it has a obvious value. and it is extremly easy to obtain trade and use i highly prefer selling items with cash or btc then paypal/other as its extremly conviniant and their is no holding of my money.
Click to expand...

The value of bitcoin stems from the fact that a large amount of drug exchanges are paid with it to remain anonymous. So you're investing into contraband in reality. Bitcoin is not accepted as currency in the majority of the world so without the drugs it would be totally worthless.
 
B00nie said:
The value of bitcoin stems from the fact that a large amount of drug exchanges are paid with it to remain anonymous. So you're investing into contraband in reality. Bitcoin is not accepted as currency in the majority of the world so without the drugs it would be totally worthless.
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last i checked btcs largest buyer is foreign markets with failing curencys so that peopl try to protect some of their wealth. i honestly belive drugs are a small portion of the userbase.
 
B00nie said:
The value of bitcoin stems from the fact that a large amount of drug exchanges are paid with it to remain anonymous. So you're investing into contraband in reality. Bitcoin is not accepted as currency in the majority of the world so without the drugs it would be totally worthless.
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Drugs?, oh no brother.. real cartels use real banks.
Look it up.
Okay don't look it up here is a taste:
http://www.rollingstone.com/politic...lement-proves-the-drug-war-is-a-joke-20121213
 
cdabc123 said:
last i checked btcs largest buyer is foreign markets with failing curencys so that peopl try to protect some of their wealth. i honestly belive drugs are a small portion of the userbase.
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Since bitcoin is not accepted in the majority of shops its value comes from something not in legit shops i.e. drugs. Nobody would pay for bitcoin if you couldn't use the currency anywhere.
 
B00nie said:
Since bitcoin is not accepted in the majority of shops its value comes from something not in legit shops i.e. drugs. Nobody would pay for bitcoin if you couldn't use the currency anywhere.
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it's a decent way to protect your wealth if your country didn't have a strong currency. And as far as buying things I can buy just about every computer part I need with bitcoin as well as many light shops
 
cdabc123 said:
it's a decent way to protect your wealth if your country didn't have a strong currency. And as far as buying things I can buy just about every computer part I need with bitcoin as well as many light shops
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I've never understood why people would want to trade their real currency to one that's not even usable in most shops. None of the shops I do business with accept bitcoin. Then again I read that darknet is full of traders who do - and most of the ransomware attackers seem to prefer bitcoin payments. Quite frankly I'm amazed how it's even alive.
 
B00nie said:
I've never understood why people would want to trade their real currency to one that's not even usable in most shops. None of the shops I do business with accept bitcoin. Then again I read that darknet is full of traders who do - and most of the ransomware attackers seem to prefer bitcoin payments. Quite frankly I'm amazed how it's even alive.
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Most of these shops accept bitcoin but convert them immediately into actual currency like USD. Just because they accept it doesn't mean they're storing it long term.
 
I read in the news that the IRS is trying to get Coinbase account records - so if you want to get into bitcoins, I'd stay away from them for now. The IRS having access to all the records, defeats the purpose of keeping bitcoins for many in the first place.
 
B00nie said:
I've never understood why people would want to trade their real currency to one that's not even usable in most shops. None of the shops I do business with accept bitcoin. Then again I read that darknet is full of traders who do - and most of the ransomware attackers seem to prefer bitcoin payments. Quite frankly I'm amazed how it's even alive.
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say your curency isnt doing good for whatever reason would you rather hold a failing inflating curency or hold somthing that will most likle retain its value. I dont have bitcoi beacuse i want to use it as a usd re;pleacment i have it to diversify abit make some money as an investment and buy and sell computer parts.
NickJames said:
Most of these shops accept bitcoin but convert them immediately into actual currency like USD. Just because they accept it doesn't mean they're storing it long term.
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because usd is extremly stable i often sell my btc when it gets to high and hold the usd till its low or med again.
 
cdabc123 said:
say your curency isnt doing good for whatever reason would you rather hold a failing inflating curency or hold somthing that will most likle retain its value. I dont have bitcoi beacuse i want to use it as a usd re;pleacment i have it to diversify abit make some money as an investment and buy and sell computer parts.

because usd is extremly stable i often sell my btc when it gets to high and hold the usd till its low or med again.
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That's the right way to do things. And then you have those who think it's the future and put everything they have into it. Life lesson, don't keep all your eggs in one basket. I did that with AMD, that was a rollercoaster of emotion! Lessons learned and portfolio diversified.
 
dvsman said:
I read in the news that the IRS is trying to get Coinbase account records - so if you want to get into bitcoins, I'd stay away from them for now. The IRS having access to all the records, defeats the purpose of keeping bitcoins for many in the first place.
Click to expand...
thats why i stay away form them and just buy/sell to members using kraken to extange curencys(all they have is my name)
 
oROEchimaru said:
It is a scary currency not accessible to the masses except:
a. large $ to buy the coins
b. you spent years mining bitcoins with vast amounts of hardware

This ends up limiting most bitcoins to a select few countries and individuals which is why it would never become a world currency standard. It is however more of a commodity.
Click to expand...
Wrong.
 
dvsman said:
I read in the news that the IRS is trying to get Coinbase account records - so if you want to get into bitcoins, I'd stay away from them for now. The IRS having access to all the records, defeats the purpose of keeping bitcoins for many in the first place.
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When joining CB, they basically require a stool sample. I've operated under the assumption they shared everything just in case.

Officially I have $300 of Bitcoin :)
 
cdabc123 said:
say your curency isnt doing good for whatever reason would you rather hold a failing inflating curency or hold somthing that will most likle retain its value.
Click to expand...

That's when you, uh, buy euros or dollars. Bitcoin is bought to do shady business.
 
B00nie said:
That's when you, uh, buy euros or dollars. Bitcoin is bought to do shady business.
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Bitcoin is bought by investors. it is a excelecnt way to diversify as it often acts inversely with traditional markets. ie. a world goverment or stock market you have your money in starts to do bad you lose money but bitcoin will generally increase with that helping you minimize losses. In addition it does have a convineance factor when selling items with as it s\doesnt to the stupid things paypal and venmo do with holding your money and of corse btc it practicaly fee-less (minus the tiny network transaction cost). unless you invest absalutly nothing and never buy and sell items i see no reason to not own some bitcoin. I personally frequantly own/sell/trade btc and have never had never used it for anything shady as its plenty useful for quite abit else.
 
Retronym said:
Put 10 grand in a savings account for thirty years.

I dare you.
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Bitcoin crashed 60% just recently. What was that again?

Not to mention if the encryption is broken the whole currency will lose its value in a snap of an eye lol.
 
If the encryption is broken, all of ecommerce is finished. Its kind of like saying you shouldnt buy a beach house because an asteroid is bound for the earth next year.
The point about savings stands. You literally can't put money into USD savings over a long time unless it is inflation protected. The FED's stated goal is inflation. Look it up.
 
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