I hope that by giving the option to pay by bitcoin (at a much reduced book cost than regular currency) it might persuade tech-savvy readers to download Black Book (by Dylan Jones) on bitmit.net and grab a bargain. What do you think? Do people trust Bitcoin enough yet? Or is it still too early to make a dent?
"Regular" currency notes can be exchanged for material goods and used in financial transactions. Bitcoins are in their infancy; it is not beyond the realm of possibility that one day they, too, may be traded for "hard" items, but I don't think we're there yet. At this point, bitcoins are play money in fantasyland.
To me, this just sounds like someone who hasn't yet heard of the Euro and is refusing to believe that it's real. Anyone can exchange dollars for bitcoin and then use their bitcoin to buy anything that's for sale. It's not fantasy, it's very real.
fraud, tax evasion, money laundering... bad things that aren't just happening suddenly because bitcoin exists. You'd better not use any dollars in your daily life either then - because some people use those for bad things.
I don't get the point of this. Seems to me you buy bitcoin like you might buy ride tokens at a fairground - but to what end? As you've already pointed out, we already have artificial currency, which is all our coins and paper money really are, so why would we need another? If you're selling your book even cheaper than you would normally charge for a standard ebook download, how does that help you? As the market for bitcoin is very small, you'd be better off selling for cheaper through the usual channels, if you think dropping your prices will get you more exposure. Sounds to me like there's no point to bitcoin except that somewhere down the line there's money to be made by whoever's behind it.
There is no company or person that controls bitcoin. It isn't some scam to make someone money down the line. Yes if they have the btc they can potentially make a return on their investment or invention and there is nothing wrong with that. Reading the reactions to the OP are hilarious. It is like we have transported back in time 20 years to when the internet first emerged. Everyone was ignorant and mocking, saying it was for porn and sex addicts exclusively, that real business would never be possible. Yet here we are on amazon. Bitcoin is already huge, you can buy anything with it now, and yes some people are getting rich along the way. See you in the future.
I fully support your book being sold for Bitcoin. Any public insecurity related to BTC is due to a lack of knowledge or understanding, or deliberate ignorance. If anyone reading this doesn't know how BTC works or how it's used, please go to Bitcoin.org and learn more.
"So are fraud, tax evasion and money laundering. Since it is an unregulated currency there are a huge number of legal and financial risks involved."
This statement applies to any currency ever to have existed...why do you think banks advertise low rates and want more customers? They make money off their customers. Fees do not have to exist, there's barely any labor cost because it's all digital and lightning-fast, but they put money in the bank's pockets.
Bitcoin (BTC) is used for legal purposes, not just illegal purposes...there are crowd-sourcing websites (similar to Kickstarter) that accept BTC as donations for crying out loud. Saying that Bitcoin is bad because it can be used for illegal purposes is no different than saying USD can be used for illegal purposes, because USD and other fiat currencies have been used for illegal purposes with a much higher occurrence, for a much longer period of time. If you're interested in Bitcoin, ignore this statement whenever it pops up...it's universally applicable and it's designed to spread fear. Do your own research.
This is why I love Bitcoin:
Imagine having a bank account that can't be shut down on a whim. Imagine not having a record kept of where you spend your money, save for a string of characters that could literally be anybody. Imagine a currency that can't be inflated, and that regulates itself due to the efforts of the community that supports it, instead of being regulated by a government that can simply print more notes and lower the value whenever it's convenient. There are more reasons, but these three are my main points of interest. I like being in control of my own money, and I like the idea of being able to spend my money without being assessed fees for stupid reasons. That's another thing, you can't spend more than you actually have, so no overdraft fees or credit-based institutions popping up to ruin countless lives with a "pay it back later" mentality.
It puts financial responsibility back in the hands of people, not companies.
Bitcoin just feels like the right system to have in place in a world where global communication and access to infinite knowledge are a few clicks away, because it was conceived of and operates almost entirely on the Internet...there are physical BTC you can buy that take the place of paper wallets, plus they're shiny.
Think long term.
As the human race continues to grow, having numerous banks all doing the same thing but on an individual scale is not feasible, not to mention horribly inconvenient...especially with all the talk of colonizing Mars or other space-related ventures. Why not have one overall currency that anybody can easily use, not just the people that fall into a particular credit bracket or fulfill a bank's sign-up criteria? If you can imagine, in the future where we've figured out inter-stellar space travel, Bitcoin fills the currency role perfectly. It's a universal currency, with real monetary value in many widely-used fiat currencies, and it's easily bought/sold.
What's the main difference?
The only difference is, it's under our control, not the bank's, government's, or any other corporate/government entity you can imagine. They can't somehow reach into the Bitcoin network and disrupt it, because it's P2P and every single person using it has the entire transaction history on their computer, so even if they could shut someone down, someone else will be able to take the victim's place.
My main reason for using Bitcoin? I trust my own judgement, but I don't trust a bank's.