Bitcoin Cambodia
- offshoresports
- I've got internet at work
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Bitcoin Cambodia
Anyone on Khmer440 use Bitcoin Cambodia? Are they safe to use? Has anyone been paid by them?
Thanks
Thanks
Numbnuts all grown up
Still speculative instruments rather than a store of value IMO. Are you feeling lucky????
Ive never used them, and don't really understand what bitcoin is, but this thread has a few positive mentions of posters using them in the past.
http://www.khmer440.com/chat_forum/view ... &start=144
http://www.khmer440.com/chat_forum/view ... &start=144
This thread or another thread?
I have to ask. Do they pay you in bitcoins or PayPal?
I have to ask. Do they pay you in bitcoins or PayPal?
pew, pew, pew, pew!
- offshoresports
- I've got internet at work
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i dont hold bitcoin personally but i think their main use is for fast safe untraceable payments, if privacy is a must bitcoin is probably the best option.
i think if you plan to cash them back fast they are ok, if you plan to hold onto them you are taking a risk akin to investing in the stock market more than forex.
while the fees for transfers should be very low (maybe none? cant remember) the large difference in Pips (%) between the buy and sell prices make it less convenient than a bank trasfer if you plan to cash them out.
Maybe it could be saving you money if you have to transfer and convert currency at the same time but its up to rates and banks, as well as demand for bitcoins in the location where you want to cash out.
If i am offered bitcoin payments from any client it personally worries me, having many cases of them being used by criminals. So if you plan to use bitcoin in your business payments be aware that bitcoin + 3rd world country is a double red flag for any of your partners.
Personally i avoid using bitcoins since quite a long time.
That's said there are plenty of people using bitcoin perfectly legally.
i think if you plan to cash them back fast they are ok, if you plan to hold onto them you are taking a risk akin to investing in the stock market more than forex.
while the fees for transfers should be very low (maybe none? cant remember) the large difference in Pips (%) between the buy and sell prices make it less convenient than a bank trasfer if you plan to cash them out.
Maybe it could be saving you money if you have to transfer and convert currency at the same time but its up to rates and banks, as well as demand for bitcoins in the location where you want to cash out.
If i am offered bitcoin payments from any client it personally worries me, having many cases of them being used by criminals. So if you plan to use bitcoin in your business payments be aware that bitcoin + 3rd world country is a double red flag for any of your partners.
Personally i avoid using bitcoins since quite a long time.
That's said there are plenty of people using bitcoin perfectly legally.
true, the blockchain program behind the bitcoin system is probaby far more valuable that the bitcoins themselves.
This BBC article on a Chinese bitcoin operation was interesting. Could we emulate it here?
http://www.bbc.com/future/story/2016050 ... future_rss
http://www.bbc.com/future/story/2016050 ... future_rss
I've yet to hear a convincing argument about how Bitcoin (or Blockchain) is scalable. The ledger gets bigger and bigger with each transaction, and needs to be stored & also communicated with each transaction? Both storage and comms capacity would surely be pressured if this tech went mainstream? Worked in tech/banks nearly all my life, and even those only hold perhaps 1-2 years of 'active' transaction records before archiving to improve system performance, etc. If multi-$bn/tn banks haven't solved this issue of keeping all transaction available in real time, who else can? (appreciating banks can be quite lethargic when it comes to new tech, but I still don't see it). Bitcoin is also in legal limbo in Cambodia, caveat emptor.
Meum est propositum in taberna mori,
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
ut sint Guinness proxima morientis ori.
tunc cantabunt letius angelorum chori:
"Sit Deus propitius huic potatori."
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- MerkinMaker
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- Joined: Wed Mar 21, 2012 11:04 am
It scales the same way BitTorrent does, distributed computing. You're thinking like a bank, vertically. Bitcoin scales horizontally, to grow you don't get larger servers/data centers, you add more distributed nodes to the network, this process happens organically as it does with BitTorrent. The blocks that make the block chain (electronic ledger) don't ever need to all exist in the same place at the same time, like the parts of a movie on BitTorrent.
The beauty of bitcoin is the fact that mining coins (validating the ledger) is the only way to create new coins and it gets progressively more challenging, actually relying on Moore's law to even be possible, hence a normally steadily increasing price.
The problem is that most bankers are looking at this from the wrong angle, bankers are asking how can we use this distributed block chain technology? The answer is that you can't, not without losing the value that resides in its non centralized nature. You are going to be replaced by this technology.
It's a paradigm shift from using a trusted *third party* to facilitate transactions to using a trusted *process* to facilitate them. Banks need to stop trying to think how they can incorporate the technology into their business and instead start thinking about how they can incorporate their business into the technology through value added services similar to those they already offer and profit from.
For a not too geeky look at bitcoin, check out Bitcoin: The future of money by Dominic Frisby.
I think bitcoin or some kind of decentralized finite currency is inevitable as fiat currency is obviously on it's last legs with near zero interest rates in all the most developed countries and central banks all going crazy with the Indian rope trick of printing money to buy their own treasury bonds.
Fifty years from now people will look back at fiat currency and the period from 1975 to 2025 and wonder, what the fuck were they thinking? Let's put money printing machines into the hands of people that are incapable of thinking any further ahead than the next election. Seriously, what did we think was going to happen?
The beauty of bitcoin is the fact that mining coins (validating the ledger) is the only way to create new coins and it gets progressively more challenging, actually relying on Moore's law to even be possible, hence a normally steadily increasing price.
The problem is that most bankers are looking at this from the wrong angle, bankers are asking how can we use this distributed block chain technology? The answer is that you can't, not without losing the value that resides in its non centralized nature. You are going to be replaced by this technology.
It's a paradigm shift from using a trusted *third party* to facilitate transactions to using a trusted *process* to facilitate them. Banks need to stop trying to think how they can incorporate the technology into their business and instead start thinking about how they can incorporate their business into the technology through value added services similar to those they already offer and profit from.
For a not too geeky look at bitcoin, check out Bitcoin: The future of money by Dominic Frisby.
I think bitcoin or some kind of decentralized finite currency is inevitable as fiat currency is obviously on it's last legs with near zero interest rates in all the most developed countries and central banks all going crazy with the Indian rope trick of printing money to buy their own treasury bonds.
Fifty years from now people will look back at fiat currency and the period from 1975 to 2025 and wonder, what the fuck were they thinking? Let's put money printing machines into the hands of people that are incapable of thinking any further ahead than the next election. Seriously, what did we think was going to happen?
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- MerkinMaker
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Sorry, one more example is the internet. In the beginning the thought leaders were telling the world that this technology will change the world. At that point the worlds biggest companies were also looking at it from the wrong angle and trying to figure out how they could take TCP/IP, HTTP and HTML and make their own internet inside their company.
I know this sounds ridiculous now, but it's true and it's exactly what is happening with the technology that makes bitcoin possible right now. The technology isn't important or ground-breaking, what's important is the paradigm shift that this combination of technologies has enabled.
Also like the internet it will take decades to ramp up to its full potential. The change will also be generational, requiring a new generation that aren't scarred by entrusting their finances to a decentralized process with no third party holding liability to really carry it forward.
Does anyone else remember feeling trepidation about putting their photograph in an internet profile for the first time? The young generation don't feel that fear and the next generation won't fear tech like bitcoin.
I know this sounds ridiculous now, but it's true and it's exactly what is happening with the technology that makes bitcoin possible right now. The technology isn't important or ground-breaking, what's important is the paradigm shift that this combination of technologies has enabled.
Also like the internet it will take decades to ramp up to its full potential. The change will also be generational, requiring a new generation that aren't scarred by entrusting their finances to a decentralized process with no third party holding liability to really carry it forward.
Does anyone else remember feeling trepidation about putting their photograph in an internet profile for the first time? The young generation don't feel that fear and the next generation won't fear tech like bitcoin.
Last edited by starkmonster on Mon May 09, 2016 5:20 pm, edited 1 time in total.
- spitthedog
- Is the World Outside still there ?
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starkmonster wrote:Sorry, one more example is the internet. In the beginning the thought leaders were telling the world that this technology will change the world. At that point the worlds biggest companies were also looking at it from the wrong angle and trying to figure out how they could take TCP/IP, HTTP and HTML and make their own internet inside their company.
I know this sounds ridiculous now, but it's true and it's exactly what is happening with the technology that makes bitcoin possible right now. The technology isn't important or ground-breaking, what's important is the paradigm shift that this combination of technologies has enabled once.
Also line the internet it will take decades to ramp up to its full potential. The change will also be generational, requiring a new generation that aren't scarred by entrusting their finances to a decentralized process with no third party holding liability to really carry it forward.
Does anyone else remember feeling trepidation about putting their photograph in an internet profile for the first time? The young generation don't feel that fear and the next generation won't fear tech like bitcoin.
OK, i'll bite.
Why would you need a ''new'', illiquid, extremely volatile currency like Bitcoin, when if anything the shift is to paperless digital transactions online? - And that technology is already here and thriving in the likes of Paypal etc.
So what are Bitcoins driven on? Is it just speculation, or even somewhere to hide money?
How can you value it, if there is nothing to compare it to?
"I don't care what the people are thinking, i ain't drunk i'm just drinking"
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