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UFCCagerattler

Fitch gets paid in bitcoins

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Fitch is an idiot,

 

no surprise here

 

Fitch is a GENIUS 

 

He figured out a way to get released from his U Fight Cheap contract 

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Fitch is a GENIUS 

 

He figured out a way to get released from his U Fight Cheap contract 

If Fitch was a GENIUS, he would have went into Pro Gaming instead of wasting his time on singleplayer games like Skyrim!

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If Fitch was a GENIUS, he would have went into Pro Gaming instead of wasting his time on singleplayer games like Skyrim!

 

Robbaz made millions playing Skyrim you FOOL!

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To be honest I don't know the First thing about bitcoins. I've never seen an online option to pay for anything with them. How do bitcoins work?

They were a backlash against the financial system. The idea is that a finite number are "mined" - by nerds with heavy duty pc's that solve algorithms. It's meant to be an off grid type of money, but the value of them can do terrifying things that make the Zimbabwean dollar look like a stable currency.

 

You can't do much with them like invest or buy most things, just sit on them and hope for the best. They're basically the only currency where all you can do is lay and pray so it's all making sense now.

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Never seen a concise explanation on what they are and how they work.

 

They are digital money that everyone agrees are worth X amount per dollar. They go up and down in value like stocks so I don;t know what Fitch is thinking. 

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Never seen a concise explanation on what they are and how they work.

 

They are digital money that everyone agrees are worth X amount per dollar. They go up and down in value like stocks so I don;t know what Fitch is thinking. 

 

 

They were a backlash against the financial system. The idea is that a finite number are "mined" - by nerds with heavy duty pc's that solve algorithms. It's meant to be an off grid type of money, but the value of them can do terrifying things that make the Zimbabwean dollar look like a stable currency.

 

You can't do much with them like invest or buy most things, just sit on them and hope for the best. They're basically the only currency where all you can do is lay and pray so it's all making sense now.

What more do you want to know?  I'm the leading forum expert on Bitcoins.

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What are they? Do you get a bill or a physical coin?

No, they're stored on computers. They are totally electronic, but don't pass through any third parties.  It takes a certain length of time to "mine" them, so there is a finite supply (unlike FIAT currency that can be printed into existence at the touch of a button).

 

I think Fitch is just trying to be a hipster.  Or dodge taxes.  If he was so in to Bitcoins, he'd have taken payment in cash and bought a load of Bitcoins with it.

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They were a backlash against the financial system. The idea is that a finite number are "mined" - by nerds with heavy duty pc's that solve algorithms. It's meant to be an off grid type of money, but the value of them can do terrifying things that make the Zimbabwean dollar look like a stable currency.

 

You can't do much with them like invest or buy most things, just sit on them and hope for the best. They're basically the only currency where all you can do is lay and pray so it's all making sense now.

holy **** i never looked at that angle, genius :P

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No, they're stored on computers. They are totally electronic, but don't pass through any third parties.  It takes a certain length of time to "mine" them, so there is a finite supply (unlike FIAT currency that can be printed into existence at the touch of a button).

 

I think Fitch is just trying to be a hipster.  Or dodge taxes.  If he was so in to Bitcoins, he'd have taken payment in cash and bought a load of Bitcoins with it.

Fitch is sponsored by Bitcoin companies and trying to make them sound more appealing as an advertisment

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its all stored on the interwebz

Well not really.  They're stored on everyone's computer who owns bitcoins - a transaction record is kept of all bitcoin transactions in like a shared database. 

 

It's actually a really secure and clever thing.  It just might all become worthless over night if all the hipsters lose interest.

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Well not really.  They're stored on everyone's computer who owns bitcoins - a transaction record is kept of all bitcoin transactions in like a shared database. 

 

It's actually a really secure and clever thing.  It just might all become worthless over night if all the hipsters lose interest.

i was just over simplifying it for Cagetard :P

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SO they are worth whatever someone will pay for one?

Yes.  

But then so are most things.  Bitcoins are just more obviously so.

 

If you timed it just right, you could have made an absolute killing....if you timed it just wrong, you would be bust

 

http://www.coindesk.com/price/

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What is a bitcoin company?

companies that mainly just deal and trade bitcoins.   

 

like the financial market has companies that trade in currency

Edited by fobar
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companies that mainly just deal and trade bitcoins.

 

like the financial market has companies that trade in currency

If I jump up and down on mushroom monsters and punch brick blocks over my head can I get more bitcoins?

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If I jump up and down on mushroom monsters and punch brick blocks over my head can I get more bitcoins?

those are the special bit gold coins mate, you wanna make sure you get as many as possible and never lose them

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those are the special bit gold coins mate, you wanna make sure you get as many as possible and never lose them

Ok and with those I can buy the golden arrows and shoot the dragon lord in the right eye and rescue the princess right?

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Ok and with those I can buy the golden arrows and shoot the dragon lord in the right eye and rescue the princess right?

thats the main goal of bitcurrency, good luck :)

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Why is it news that people want to get paid in something other than cash?

  

Chris Leben used to get paid in strictly pharmaceuticals.

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The only thing I remember those being any use for was things like Silk Road lol is Fitch away to start selling crack on the side as well as fighting?

 

He does already have already have a face like somebody who's been smoking rocks for years.

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So what you are saying is Fitch doesn't get paid.

 

Sort of. I guess he pays income tax on the value of the bitcoins he has, and probably he gets a capital gain or capital loss when he sells them or disposes of them in whatever manner. 

 

I can see a guy wanting to get paid in real estate or a fine guitar or a boat or a truck or something. That would insulate you from currency fluctuation and collapse. But bitcoins seem to fluctuate in value as much or more than currency does so what is he gaining in terms of stability?

 

The whole story does not make sense. There is obviously more going on here than reported. 

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They were a backlash against the financial system. The idea is that a finite number are "mined" - by nerds with heavy duty pc's that solve algorithms. It's meant to be an off grid type of money, but the value of them can do terrifying things that make the Zimbabwean dollar look like a stable currency.

 

You can't do much with them like invest or buy most things, just sit on them and hope for the best. They're basically the only currency where all you can do is lay and pray so it's all making sense now.

Lay and pray is where Fitch feels most comfortable.  It was bound to happen that he go to the Bitcoin.

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Sort of. I guess he pays income tax on the value of the bitcoins he has, and probably he gets a capital gain or capital loss when he sells them or disposes of them in whatever manner. 

 

I can see a guy wanting to get paid in real estate or a fine guitar or a boat or a truck or something. That would insulate you from currency fluctuation and collapse. But bitcoins seem to fluctuate in value as much or more than currency does so what is he gaining in terms of stability?

 

The whole story does not make sense. There is obviously more going on here than reported. 

he really does explain everything in the link i posted, dont know why you have a problem understanding that he gets paid mainly in cash and says some in bit coins.  he is sponsered by bit coin companies and this is him promoting them

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he really does explain everything in the link i posted, dont know why you have a problem understanding that he gets paid mainly in cash and says some in bit coins.  he is sponsered by bit coin companies and this is him promoting them

makes enough sense to me 

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makes enough sense to me 

it would only make no sense if he was being paid in full right?  

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