Bitcoin

Out of context: Reply #1751

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  • zaq7

    Bitcoin again is all over the news. It's great to see that it's still relevant today. But I have to admit I am disappointed what it has become. I hoped that it would be more than a speculation platform.

    As I already posted on QBN my involvement with Bitcoin started almost a decade ago. At that time 1 btc was worth a couple of dollars. I mined and also joined a pool, but it was painfully long. It was almost impossible to acquire btc some other way. First service that I am aware in US that allowed to exchange fiat for bitcoins was Dwolla, but for some reason they flagged me and I wasn't able to buy them. At that time ( 2011) my wife opened a crêperie in DUMBO, Brooklyn. So I got an idea and convinced her to start accepting Bitcoins. Thus becoming one of the first physical location to accept Bitcoins.

    https://twitter.com/Ocrepes/stat…

    also check out the deals at that time :)

    https://twitter.com/search?q=ocr…

    First Bitcoin conference kicked off from our cafe.
    Here is a story of our first bitcoin transaction and surrounding mystery around that https://news.ycombinator.com/ite…

    Anyway as I mentioned above I became disappointed of where it was going, so I donated my bitcoins and moved on to pursue some other endeavors. About one of them you can read here https://www.qbn.com/reply/397083…

    Although I was preoccupied with something else, I continued monitoring blockchain space. I'd like to share my observations.
    What I hoped would become of Bitcoin is now taking place by Ethereum. As a platform it has more possibilities. Although Bitcoin in price most likely will go up to $50K, the most interesting stuff will happen on Ethereum. DeFi, Stablecoins, DAOs, are few interesting applications. But what peeked my interest most is NFT. Not many people can see that, but it has great potentials beyond gaming.
    In fact I started to work on something that I am excited about and planning to launch a pilot on QBN.

    So monitor this space for an announcement from me.

    zaq 7Permalink
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    • Yeah I don't get why it's nearly 30K and you still can't use it to buy stuff in a store.NBQ00
    • Bitcoin = Gold,
      Ethereum = Oil      zaq
    • early on it seemed full of potential... you had uk banks payment systems near collapse requiring government bailout.jonny_quest_lives
    • in a digital age transferring money bank to bank should incur no costs to account holders it's just data... but banks were are profiting of transfers...jonny_quest_lives
    • so a self reconciling/valiidat... payment transfer independent of banks seemed optimistic... then libertarians got involvedjonny_quest_lives
    • libertarians and griftersjonny_quest_lives
    • one one hand it brought investment into blockchain and helped to spun altcoinszaq
    • Bitcoin is useful for escorts due to being rather anonymous (receiving and giving).SimonFFM
    • Interesting, thanks for sharingBennn
    • It's pure gambling. I haven't heard of the "usefulness" of it in a while, just the price. Looking at the stock market, overall, though and it makes sense.formed
    • No solid argument can give credence to where any of the markets are now, it's all speculation.....'poo... will happen sooner or later, it always does.formed
    • It’s market value has no bearing on whether it is accepted as legitimate currency. Same reason you couldn’t use a beanie baby to pay for a car.monospaced
    • you can't buy a car with stock either.inteliboy
    • suremonospaced
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