Yeah, no offense, but bitcoin is ridiculous. I can't possibly imagine how it would "make the life of many developers easier."
Not when it can crash from $255 to $100 in a single day. I'll stick with good old American dollars, thank you very much. They only fluctuate by fractions of a cent per day. And I have the added benefit of being able to fold them up and keep them in my pocket, deposit at a bank, spend at McDonalds, etc.
Bitcoin is a speculated commodity, not so much a functional currency, because it has no current market use (outside of niche/novelty markets) which could serve to regulate and stabilize its value. So what you're asking is if developers want to get paid in shares of high-risk stock, precious metals, or Frozen Concentrated Orange Juice instead of money.
But beyond that, how would this work, exactly? Can't you just invest in Bitcoin yourself after you get paid? Do you just not want to open a bank account? Are you trying to somehow stay anonymous (despite having to register with Ouya to get a dev account), or hide your income from your government? What other purpose would being paid in Bitcoin possibly serve?
And where would the actual Bitcoin come from? Ouya would have buy Bitcoin with its own money before paying you, and with BTC, its value could change in the time it takes to get paid. How does that make sense? This isn't just about losing value once it's in your wallet, you could actually lose a significant amount of money before it ever reaches you!
Or: would you price your products with a BTC value, so users could pay you directly with their own Bitcoin? If so, what about Ouya's percentage? Do *they* want to deal with Bitcoin? And what happens tomorrow when the value of a Bitcoin fluctuates, would you change your prices? I guess you could just match it automatically to an equivalent "home currency" (Dollar/Euro/Yen/etc.), but then why wouldn't you just list it in dollars in the first place?
But if your "home currency" was Bitcoin (in that the price of your products was set in BTC and never changed), users who wanted to pay in dollars would see the price of your products fluctuate with the price of BTC. Who would bother with you?
I'm sincerely sorry, because while I don't mean to be insulting, I'm afraid I have to insult you for ignorantly proposing this utterly stupid idea, and seeming to have no idea how Bitcoin works or what it's good for. Again, I honestly apologize that you are getting the brunt of this rant from me, but I'm tired of people who talk about (and even use) Bitcoin without knowing the slightest thing about it.
Bitcoin is a really cool technology, and more importantly, a fascinating phenomenon in modern economics, but it's not "open" in the way you are describing. It *is* open in the way that physical cash (in dollars, Euros, etc.) is open, but Ouya keeps records, and as a business, so should you, so the kind of "open" you are fantasizing about is not possible, even if you *were* paid in physical cash (or in Bitcoin).
Of course... it's more likely that you're just using "open" as a meaningless buzzword...
(Okay, rant over. I'm assuming a lot about you from your short post, which isn't fair, so don't take my mean reply too personally.)
Bitcoin is never going to fix anything in the long run... it might be some stepping stone to move to something better, like negating currency all together with the help of mechanization, so don't get me wrong...
But without starting a storm here, I really have to ask the question how on earth people think Mining Bitcoins by generating random hash values is a good use of computers energy or time? This is not economic.. How is this not obvious that its just going to quickly generate big owners of the Bitcoin currency in general... kinda like it is now, but with a different twist?
As problem solvers and critical thinkers I really think we can come up with a better idea then going back in time to the gold standard just to end up repeating history as we will end up generating a few big winners and lots of small losers given enough time... as you can see now. We need a system that generates a win win environment and get rid of classism.
@nobleRobot, comparing bitcoin to a high-risk stock is a very good comparison. I've been a computer guy my whole life, but I really can't wrap my head around why anyone would want to use bitcoin in the real world. It seems to be about dodging evil governments or some such?
But-- even if you were trying to avoid taxes-- you are still being paid in a value that has worth, and you can (and should) still have to pay taxes on that income, so I don't get it.
I feel like the people who love bitcoin are also Ayn Rand fans. Heh. Maybe that's an unfair generalization, though ;)
In all seriousness, though, not trying to start a thing, but could someone explain why I (as an average American) should consider using bitcoin.
Bitcoin is beginning to get a lot of attention from governments around the world from its status as a currency to be regulated through to terrorist and criminal organisations using it for money transfer and laundering, so it's future is uncertain, no matter whether that future is good or bad. The computing power required to mine a bitcoin these days will often cost more in energy and related costs than the bitcoin value. And what happens when the finite number of bitcoins (by design) are mined?
@KonajuGames - deflation happens. It's quite well described in many articles about bitcoin on the web. In reality though I suppose before that happens people will jump to another, similar virtual currency. There is no way now to stop this trend, virtual currencies are with us whether we want it or not.
The problem with getting paid in bitcoin is that bitcoins value isn't static. One day one BTC coin could be worth $50 on the btc mt.gox index the next $20, then two weeks $300. It's not for me. Cryptocurrency is neat, but it's still got a long way. I'd rather be paid in candy, and toys.
That's why I want this to happen and like so much cryptocurrencies:
32.60% fees of the bank! This is such theft. I just don't know what to say.
If people didn't pay bank fees, then the banks couldn't stay open and you would have no banks to use.
Just like if nobody pays hospital fees, then there can be no hospitals, same for everything else in your life. If cryptocurrencies become common place, rest assured it will cost you to use them, maybe not in official fees, but the unreliable fluctuations will hit you a lot harder than any bank fees.
That's why I want this to happen and like so much cryptocurrencies:
32.60% fees of the bank! This is such theft. I just don't know what to say.
If people didn't pay bank fees, then the banks couldn't stay open and you would have no banks to use.
Just like if nobody pays hospital fees, then there can be no hospitals, same for everything else in your life. If cryptocurrencies become common place, rest assured it will cost you to use them, maybe not in official fees, but the unreliable fluctuations will hit you a lot harder than any bank fees.
Yeah, without 32.60% fees banks wouldn't open anymore.
I'm not complaining about the fees itself, but the amount of fees.
And the fluctuations will be just fine when all bitcoin is issued and more people start using it.
Molinware
Posts: 82Member
Comments
Not when it can crash from $255 to $100 in a single day. I'll stick with good old American dollars, thank you very much. They only fluctuate by fractions of a cent per day. And I have the added benefit of being able to fold them up and keep them in my pocket, deposit at a bank, spend at McDonalds, etc.
;)
Richard
Currently available game: Alex the Alien
But beyond that, how would this work, exactly? Can't you just invest in Bitcoin yourself after you get paid? Do you just not want to open a bank account? Are you trying to somehow stay anonymous (despite having to register with Ouya to get a dev account), or hide your income from your government? What other purpose would being paid in Bitcoin possibly serve?
And where would the actual Bitcoin come from? Ouya would have buy Bitcoin with its own money before paying you, and with BTC, its value could change in the time it takes to get paid. How does that make sense? This isn't just about losing value once it's in your wallet, you could actually lose a significant amount of money before it ever reaches you!
Or: would you price your products with a BTC value, so users could pay you directly with their own Bitcoin? If so, what about Ouya's percentage? Do *they* want to deal with Bitcoin? And what happens tomorrow when the value of a Bitcoin fluctuates, would you change your prices? I guess you could just match it automatically to an equivalent "home currency" (Dollar/Euro/Yen/etc.), but then why wouldn't you just list it in dollars in the first place?
But if your "home currency" was Bitcoin (in that the price of your products was set in BTC and never changed), users who wanted to pay in dollars would see the price of your products fluctuate with the price of BTC. Who would bother with you?
I'm sincerely sorry, because while I don't mean to be insulting, I'm afraid I have to insult you for ignorantly proposing this utterly stupid idea, and seeming to have no idea how Bitcoin works or what it's good for. Again, I honestly apologize that you are getting the brunt of this rant from me, but I'm tired of people who talk about (and even use) Bitcoin without knowing the slightest thing about it.
Bitcoin is a really cool technology, and more importantly, a fascinating phenomenon in modern economics, but it's not "open" in the way you are describing. It *is* open in the way that physical cash (in dollars, Euros, etc.) is open, but Ouya keeps records, and as a business, so should you, so the kind of "open" you are fantasizing about is not possible, even if you *were* paid in physical cash (or in Bitcoin).
Of course... it's more likely that you're just using "open" as a meaningless buzzword...
(Okay, rant over. I'm assuming a lot about you from your short post, which isn't fair, so don't take my mean reply too personally.)
But-- even if you were trying to avoid taxes-- you are still being paid in a value that has worth, and you can (and should) still have to pay taxes on that income, so I don't get it.
I feel like the people who love bitcoin are also Ayn Rand fans. Heh. Maybe that's an unfair generalization, though ;)
In all seriousness, though, not trying to start a thing, but could someone explain why I (as an average American) should consider using bitcoin.
Thanks
Richard
Currently available game: Alex the Alien
> Anti piracy measures are needed and it doesn't haves to interfer with the concept of open console
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