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Do you use bitcoin in vegas?

Discussion in 'Misc. Vegas Chat' started by cptcomp, Dec 18, 2015.

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  1. cptcomp

    cptcomp Tourist

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    I've seen a couple of signs in china town."we accecpt bitcoin" any experience I can mull over would be appreciated. Thanks
     
  2. reedy

    reedy Low-Roller

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    Lot of hotels are accepting them too now. I use them for certain things online. Pretty easy once you get the hang of them. I really don't understand the need for them in everyday shopping though.

    To answer your question. I have zippy experience using them in china town.

    Glad i could be so helpful.
     
  3. broncofn

    broncofn VIP Whale

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    Thought bitcoins go up and down in value. For example, you buy a bit coin for $5 and then it could only be worth $3 4 days later or go up to $10. Maybe im wrong but thats the jist I got out of it.
     
  4. tringlomane

    tringlomane STP Addicted Beer Snob

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    Considering how volatile bitcoin is at times, I'm a bit surprised businesses are accepting it.
     
  5. UTE

    UTE Plastics

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    The D Downtown makes a big deal about taking Bitcoin. I don't know how it's going for the D, but they sure do promote it. Maybe it's more about presenting an image they're "with it" more so than the old Downtown establishments.

    Bill
     
  6. Chuck2009x

    Chuck2009x VIP Whale

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    It should be pretty much like accepting any other currency, except you can convert it faster. Pad the transaction amount by a few % like any other exchange rate. As soon as you have the bitcoin info from the transaction, if you have your technology in place, you can sell it instantly for USD. The price isn't normally going to move that much over the course of a couple of minutes.
     
  7. swimjim10

    swimjim10 Low-Roller

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    Bitcoins to me have criminal undertones. Mind you I'm not Mr. Trader and perhaps someone else sees opportunity. All I see is that they are more difficult to track than currency. Hackers are known to Hijack a users computer files unlocking them only when the user wires them so much in Bitcoin. Heard it on a Podcast story (This American Life I believe) so it HAS to be true right?!
     
  8. reedy

    reedy Low-Roller

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    They'e gotten a bad rap because of all the pirate bay stuff for sure and you could say why make the choice to purchase something with bitcoins vs CC if what you're buying is legal. Also bitcoins are not completly anonymous. Each time they are sent and recieved they go to and from an address and can be tracked.

    As for the volatility. Its not really as much of an issue as what people think. The transaction generally takes seconds and you can convert to cash instantly.

    Broncoin - I wish they were only worth $5 right now. I'd buy as many as I could. Currently trading at $462 per.
     
    Last edited: Dec 19, 2015
  9. cptcomp

    cptcomp Tourist

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    I read that there after the billons of dollars in fees that MoneyGram and western union charge people-too send 100 dollars to Canada or mexico 11 dollars to send 100 dollars from Washington state to las vages 7-11 dollars with bitcoin .40 cents WTF ?
     
  10. woodsie

    woodsie High-Roller

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    They accept it because using bitcoin doesnt require you to hold it. Anyone who accepts bit coin can have it converted to cash instantly upon receipt and thus effectively eliminate exchange rate risk. From a seller's perspective, Bitcoin is the perfect currency. Better than cash which can be faked, better than credit which can be reversed, and better than a check which can bounce.

    From a buyer's perspective it has more downsides depending on how you are using it.
     
  11. Franken Dean

    Franken Dean Newbie

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  12. FullBoat

    FullBoat VIP Whale

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    I used to mine them when it was still profitable for me to do it. I've bought a couple of things online like computer parts. And, I used them one time at the steak house at The D. They just come over with an iPad, I scanned the barcode, and I was done. Couldn't add the tip on there, but no big deal there. I still have some left, but every time I'm about to check out of the hotel their systems are down. Might use some at their slush bar next trip. And, yes, they do go up and down a good bit. A few months ago they were worth about half of what they are now. So, good for me. :)
    There's a lot of ligit places that take them. NewEgg is one right off the top of my head. I stopped because the electric it was costing me was more than I was getting back. Too bad I got rid of all my stuff, I might have started it up again since they're going back up now.

    - - - Updated - - -

    I'd be scared to see what they charge for buying/selling on there. It's probably like the gold ATM over at GN.
     
  13. MTROH

    MTROH Low-Roller

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    No Thank you, to bit coins. I think aluminum budlight cans are more trustworthy as scrapyards are always buying.
     
  14. DaiLun

    DaiLun R.C., L.C., and A.A.N.G.

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    The volatility of Bitcoin has decreased over the past year. You can't get rich or poor overnight anymore. I carry them, but I'm very careful of what the exchange rate is before I buy anything.
     
    New Orleans 7* retreat. Food, food, and more food . . . .
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  15. FullBoat

    FullBoat VIP Whale

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    There hasn't been any huge drops in a while. Not since the Mt Gox deal. I don't think they're going anywhere. Only the "junk" coins I'd worry about. Plus they have that geek factor. And, girls love geeks right? ;)
     
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