Bitcoins Fail Currency Test in Scandinavia’s Richest Nation

Re:Bitcoins Fail Currency Test in Scandinavia’s Richest Nation by LukeHoersten on Friday December 13, 2013 @06:09PM (#6903410)

It's funny how media outlets often use pictures of gold coins with the Bitcoin logo on it to illustrate Bitcoin. If it doesn't have a physical representation they make one ;-)

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Re:Bitcoins Fail Currency Test in Scandinavia’s Richest Nation by yincrash on Friday December 13, 2013 @06:31PM (#6903496)

These photos are usually of https://www.casascius.com/coins. I wonder if he has made more from press usage than coin sales

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Re:Bitcoins Fail Currency Test in Scandinavia’s Richest Nation by jnbiche on Friday December 13, 2013 @07:02PM (#6903659)

Speaking of the dubious benefits of government regulations, Mike Cadwell just had to shut down his casascius coins business after FinCEN sent him a cease and desist letter accusing him of unlicensed money transmission. Note that Mike never accepted U.S. dollars for his casascius coins, so the only premium he got for his coins was in exchange for his coin's design and metals. So people were sending hims Bitcoins and in return they got Bitcoins plus a pretty gold/silver/bronze coin, clearly marketed as non-legal tender.

How anyone could consider this money transmission is beyond me. It's sickening hyper-regulation. And even more sickening is that the FinCEN rep stood in front of congress not even a month ago and assured congress how careful FinCEN was to not stifle innovation with overregulation. Admittedly, casascius coins aren't high technology (although they're very attractive), but the fact that FinCEN was so quick to crack down here does not inspire confidence at all.

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Re:Bitcoins Fail Currency Test in Scandinavia’s Richest Nation by lostlogin on Friday December 13, 2013 @06:31PM (#6903503)

How media outlets use images is often painful. New Zealand Herald, APN, is a good example of how to do it badly. Both their app and website are image centric. Images load slowly, and the text jumps as you are reading. Often it's just loading some crap stock image like a police car with lights on or other such filler content. If I wanted images, I'd go to a TV or video streaming news site. I'm trying to wean myself off sites that behave like NZ herald.

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Re:Bitcoins Fail Currency Test in Scandinavia’s Richest Nation by bdcravens on Friday December 13, 2013 @06:29PM (#6903489)

Make some trinket with a wallet address on it and post pic over on r/bitcoin - instant karma. Everyone wants a physical representation.

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Re:Bitcoins Fail Currency Test in Scandinavia’s Richest Nation by maaku on Friday December 13, 2013 @07:08PM (#6903691)

Those are actual bitcoins:

https://www.casascius.com/

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Re:Bitcoins Fail Currency Test in Scandinavia’s Richest Nation by LukeHoersten on Saturday December 14, 2013 @02:03PM (#6906658)

They're not actual bitcoins. The Bitcoin is a wallet embedded inside of a physical coin. You could take a picture of a USB key and call it a Bitcoin using that logic.

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Re:Bitcoins Fail Currency Test in Scandinavia’s Richest Nation by maaku on Saturday December 14, 2013 @02:34PM (#6906768)

I think I know what bitcoins are. So what is a better image to use then?

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Re:Bitcoins Fail Currency Test in Scandinavia’s Richest Nation by jadeddrag on Saturday December 14, 2013 @02:55PM (#6906860)

The Casascius coin is just fine to communicate the idea. Either that or just the bitcoin logo.

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Re:Bitcoins Fail Currency Test in Scandinavia’s Richest Nation by bitmonster on Sunday December 15, 2013 @02:02PM (#6910371)

People are selling btc this way on ebay

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