Dell starts accepting Bitcoin - among others.

[TampaAnimusVortex]

This week in Bitcoin.

Dell starts accepting Bitcoin
http://thenextweb.com/insider/2014/07/18/dell-starts-accepting-bitcoin-online-purchases-consumers-small-businesses-us/

New Bitcoin Lobbying, Trade Association Announced
http://blogs.wsj.com/moneybeat/2014/07/18/new-bitcoin-lobbying-trade-association-announced/

Why Bitcoin Has Real Potential To Upend The Legacy Payments System
http://www.businessinsider.com/bitcoin-potential-upend-legacy-payments-system-2014-7

Kuwait finance firm suggests trading oil in bitcoins
http://www.gulf-times.com/eco.-bus.%20news/256/details/398622/kuwait-finance-firm-suggests-trading-oil-in-bitcoins

World Bank Report: Bitcoin is Not a Ponzi Scheme
http://news.insidebitcoins.com/world-bank-report-bitcoin-not-ponzi-scheme

Google Adds Support for Bitcoin Conversion
http://googlesystem.blogspot.com/2014/07/google-adds-support-for-bitcoin.html

Bitcoin Startup Funding Is On Track To More Than Double This Year
http://www.businessinsider.sg/bitcoin-startup-funding-is-on-track-to-more-than-double-this-year-2014-7/

What Can You Buy with Bitcoins?
http://www.coindesk.com/information/what-can-you-buy-with-bitcoins/

[PoliticAverse]

1. Note that Dell is using a third party processor, in this case Coinbase...

that allows customers to pay in bitcoins but Dell instantly receives US dollars.

(See: https://coinbase.com/merchants )

[TampaAnimusVortex]

3. Of course they are...

It makes sense to do so until their suppliers also start accepting Bitcoins, at which point it becomes more profitable to pay them directly using the Bitcoins than converting them back to dollars. The Bitcoin environment is about at the same point that the internet was in 1994 or so.

All those predicting it's death have been wrong. It's growing as fast, if not faster than the internet itself.

http://www.pcworld.com/article/2140660/bitcoin-akin-to-the-internet-20-years-ago-digital-currency-executive-says.html

It's here to stay.

[PowerToThePeople]

2. Digital currency

I have though about the use of digital currency being the way to use technology as the means to help evolve out of capitalism.

Digital currency could be designed with an expiration or use by date that invalidates the currency after a time. Use it or lose it. Obviously I have not given too much thought to this yet, as storage of wealth in real assets would still be possible, so this may harm the have nots more than the haves. Just an idea of a possible way to use digital currencies in new ways.

[TampaAnimusVortex]

4. So go ahead and make it.

There are hundreds (if not thousands) of cryptocurrencies out there now. They can have different set ups, properties, behaviors.

You just need to get people to adopt it... so the question becomes, why would I want your money over someone elses?

[PowerToThePeople]

5. I am not into 3rd party currencies

My idea would have to come as a state issued digital currency.

[TampaAnimusVortex]

6. What attribute of a state currency are you wanting?

The only difference in what a state could produce and an individual would be one of forced acceptation. Any additional features could be duplicated.

Why would coercion be better than voluntary?

[ChisolmTrailDem]

7. i thought bitcoin was dead, exposed as a bogus ponzi scheme

of some sort.

[TampaAnimusVortex]

8. Well you learned something new then today...

World Bank Report: Bitcoin is Not a Ponzi Scheme
http://news.insidebitcoins.com/world-bank-report-bitcoin-not-ponzi-scheme

Get ready for it to be a disruptive technology and expand.

:medium

[ChisolmTrailDem]

9. Where's the REC button on sub-thread posts?

Any reference to Douglas Adams gets a auto-REC from me.

As for bitcoin, as long as it's on the up-and-up, I'm not opposed to it. I'm in ecommerce and have been seeing bitcoin as a payment option on other stores, though I think we'll take a hide-and-watch stance for the time being.