PingSkills and Bitcoin

Hi Jonas,

That is an interesting perspective. The idea behind a global digital currency certainly is worth some debate. I think that issues like you mention can be worked out if the currency was to ever become more mainstream.

I have read that some platforms (eg Steam in the gaming industry) are dropping Bitcoin because of it's transaction fees and volatility.  I assume that your own experience doesn't concur with these findings however?

Just going on opinion/information I have read here....

https://venturebeat.com/2017/12/06/steam-drops-bitcoin-cryptocurrency-due-to-volatility-and-20-transaction-fees/?utm_content=buffer40e3a&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

thanks

Hi Bill,

To be honest I don't have a lot of experience with Bitcoin. That's why it's good to get feedback from our community and to see if anyone is actually using it. The current direction of Bitcoin does seem to be towards holding it as some kind of investment (risky and volatile) rather than using it to pay for goods and services. There has been a split between the Bitcoin community and a new Bitcoin Cash was established a few months ago which promises to be able to handle more transactions and offer lower fees. I imagine there is a lot more water to go under the bridge before a digital currency becomes mainstream (if it ever does!).

is the above BitCash used by Pingskills a Wallet?

Hi Joyal,

At this stage PingSkills is only testing accepting Bitcoin in the online store, and not Bitcoin Cash.

Man, you guys are on the cutting edge, kudos for accepting Bitcoin.  I own Bitcoin, Ethereum, and Litecoin, all cryptocurrencies, primarily as an investment, and a hedge for fiat currencies.  I strongly recommend that everyone own a small amount for diversification purposes.  If anyone is interested in owning some Bitcoin, they can buy some at an online exchange.  I use Coinbase, which is one the largest and most secure.  You can send them a check, use your credit card, or wire money via your bank account. 

Here is a link to Coinbase:  https://www.coinbase.com/join/5762d1c9387e281fb2000d93 

If you start a new account, they give you $10 of Bitcoin for free! 

Here is a good article on the topic from some top authors at Seeking Alpha: https://seekingalpha.com/article/4130677-bitcoin-heck-going 

Thanks for the post Jeff and Alois!  Love your videos,

Mark 

Thanks for sharing your experiences with cryptocurrencies Mark. I'm certainly interested in watching the journey of this space over the next 10 years.

The Federal Reserve in the U.S. and central banks of most countries have debased currencies to the extent that they are losing their value. Zero interest policies in this country have ruined lending and driven many into the stock market which is steadily rising due to demand pressure. That cannot last.. Crypto currencies in general do not and cannot suffer that fate  because their issue is strictly controlled. They are the gold standard of the future. The Tulip like investment boom will end eventually and those currencies and probably others like them will eventually be common throughout the world. George Gilder's book, The Money Scandal is a good general introduction to the money-value problem and both The Foundation for Economic Education (FEE) and CATO have good primers on the topic. I agree with Gresser's recommendation above just to get your feet wet and give you incentive to watch the show unfold.

Lee

Thank Lee. The Scandal of Money by George Gilder does sound like an interesting read.

Pingskillsi

are very knowledgeable and also easy to learn every body the demonstration is very good