Smurf Eater
Donator Supreme!
If you guys were interested in allowing donations in Bitcoin, I would be glad to donate the first one. It's not all that difficult to set up, and maybe if you guys look into it you'd be interested 
Bitcoin donations
- Thread starter Smurf Eater
- Start date
We take first borns, too.
Smurf Eater
Donator Supreme!
Is that a legit donation address? How come I don't see it posted anywhere besides here?
If Brades says it's legit, then that's the address.
Smurf Eater
Donator Supreme!
Ok, one Bitcoin coming. It's coming from Mt. Gox so I don't believe I can attach a message to it. As soon as it verifies I'll send it your way.
Smurf Eater
Donator Supreme!
Will I be the first Bitcoin donation? O_o
Brades Smurf Eater What's a bitcoin worth so I can add to the donation goal thingy?
Ok, so $100 donation?
Smurf Eater
Donator Supreme!
Sorry about that, I went and took a nap, one Bitcoin on the way
Smurf Eater
Donator Supreme!
Actually there are now hundreds of thousands of legitimate businesses that currently accept Bitcoin, and it is being backed by nearly every Central Bank of every single country except the United States. I do expect the price to drop more, but that's only because its current value is more based on speculation than it's use in trade. At the lowest I expect it to drop to around $40 again, the reason being as more miners come online, as they currently are, those persons that purchased them are selling the Bitcoin they make. Most businesses immediately turn the Bitcoin they receive into cash, so there is little loss and even if the value changes, they usually adjust it in their favor. I've been following Bitcoin for quite some time and most of what the public knows about it is more than completely incorrect (that includes those that support it). It took me months upon months of reading and research to grasp the basic concept of the capability of Bitcoin and what drives it. The Winklevoss twins didn't invest $10 million dollars in it because they were misinformed.
Gatherix
Death by Darkly
Can you support that?
Bitcoin certainly has a lot of potential, but there's numerous issues with it too. To start, the big problem with Bitcoins is that it's attempting to act as a currency when it's traded as a commodity, since it's backed by nothing. Of course, in many ways this is the primal feature of Bitcoin and what makes it so unique, but most commodities that have no backing turn into economic bubbles, which Bitcoin clearly did after sharply rising to $250 in April and then plunging back down. Also note the government issue, where the US government finances itself through credit lending and inflation, and inflation doesn't work when you have a decentralized currency (or, rather, commodity). That said, government roles in Bitcoin's future are international; China could devalue the US Dollar using similar methods provided enough of its population begins using Bitcoins as a trading platform. You imply the Winklevoss twins know what they're doing and have made a confident and intelligent move by investing $10 million in Bitcoins. Cameron Winklevoss has said he believes government regulations will help Bitcoins, due to increased credibility and assurance to Bitcoin investors (who are the ones inflating the Bitcoin bubble dramatically). Not a bad idea, but regulation is something that contradicts one of the founding principles of Bitcoin, yet Cameron fully expects full-scale government regulation to occur (which it already has in minor aspects). If that happens, the value of Bitcoins would likely stabilize (and it has been since April), because it would become even more like a commodity rather than a currency. As long as it doesn't become the prime foundation of currency and trade in America, the US Dollar will be instead, and then Bitcoin becomes something affected by government-induced inflation. Bitcoin being a commodity just makes more sense; it shares many of the key characteristics with gold that make gold the basis for the US Dollar: divisibility, durability, rarity, et cetera, and just like Bitcoins gold has bubbles too. It's decreased dramatically since September. Both of them are susceptible to deflation.
Point is, it's a very intricate system, and considering how many other outside factors there are in that system, it cannot be assumed that Bitcoin will immediately fail or succeed.
Walls of text starting arguments in formerly legitimate threads:
