Any sites that sell optics who accept bitcoin?

[Ellensburg]

I know, weird request. But do any of you know any sites that sell high end optics (spotters, binos) that accept bitcoin? I like to support sites who are open to crypto currencies.

 

[Rodéo]

Interested

 

[Ellensburg]

Still searching

I like to support sites who endorse crypto currencies.

Optics sponsors - have any of you thought about adding it? Theres little / no cost involved.

 

[tdhanses]

What is the draw to crypto? It’s backed by what? How do you get your cash out immediately or is it only worth what the crypto market dictates? I just saw that guy in Canada that died last year which then locked everyone out of their money was also funneling money to his own personal accounts.

So what is the draw/benefit for anyone to accept or trade in this? I get it’s new and cool but has to be a better reason then that.

 

[Ellensburg]

What is the draw to crypto? It’s backed by what? How do you get your cash out immediately or is it only worth what the crypto market dictates? I just saw that guy in Canada that died last year which then locked everyone out of their money was also funneling money to his own personal accounts.

So what is the draw/benefit for anyone to accept or trade in this? I get it’s new and cool but has to be a better reason then that.

I'm not an expert by any means.

The best benefit for companies who use it is lower fees - The fees are 33-50% less than accepting credit cards. Companies are paid in USD.

When you ask what is it "Backed" by - well its backed by the technology that has kept a flawlessly running ledger for billions of transactions.

What is appealing to it, is that it is scarce and decentralized. No government can "shut it down" because no one owns the blockchain. As long as one computer in the world is still up to date, the transaction ledger is in tact.

The USD dollar is backed by nothing now days, other than the power of the United states. The federal reserve just keeps churning out paper that we deem valuable.

I see the value in gold because it is tangible and easy to liquidate. But gold is heavy and easily manipulated *crypto is easy to manipulate too*

Its just appealing as a libertarian to have a payment system that is untraceable and unregulated.

The fact that I can't even buy a spotting scope shows me that bitcoin is in its infancy in terms of mass adoption.

 

[Rodéo]

I'm not an expert by any means.

The best benefit for companies who use it is lower fees - The fees are 33-50% less than accepting credit cards. Companies are paid in USD.

When you ask what is it "Backed" by - well its backed by the technology that has kept a flawlessly running ledger for billions of transactions.

What is appealing to it, is that it is scarce and decentralized. No government can "shut it down" because no one owns the blockchain. As long as one computer in the world is still up to date, the transaction ledger is in tact.

The USD dollar is backed by nothing now days, other than the power of the United states. The federal reserve just keeps churning out paper that we deem valuable.

I see the value in gold because it is tangible and easy to liquidate. But gold is heavy and easily manipulated *crypto is easy to manipulate too*

Its just appealing as a libertarian to have a payment system that is untraceable and unregulated.

The fact that I can't even buy a spotting scope shows me that bitcoin is in its infancy in terms of mass adoption.

Decent explanation but I have to correct you on the common misconception that bitcoin transactions are untraceable and 'unregulated'.

Regarding traceability, the bitcoin blockchain records every transaction made throughout the ledger's history with wallet addresses, time stamps, and amount transacted, as well as a few other pieces of data. These transactions are not untraceable, in fact, they are exactly the opposite. They are traceable and public to anyone with a computer and as you correctly stated, as long as one computer in the world is running an up to date bitcoin node, the ledger history will be completely in tact.

Regarding regulation, btc is not regulated in the traditional sense but governments or boards or ceo's and the like, but it is regulated in the sense that the code that it is based off of has regulations built in, such as fungibility (equal value from one satoshi to the next), and scarcity (the fact that only 21 million btc will ever be available).

I'd like to see more of the hunting world accept crypto as a legitimate form of payment and store of value, seems like a match in terms of politics. The businesses that will accept btc payments for expensive hunting gear like optics will make a killing in the long run.

 

[tdhanses]

How will they make a killing? I guess do you sell your bitcoin values like a stock? So values go up and down? Also how are you taxed on gains made within bitcoin? I know the taxman will want his cut. Just doesn’t seem logical to me that this isn’t being watched and tracked by the government even if indirectly.

Also if bitcoin is limited, what/why wouldn’t a dealer or store charge a 25%+ premium in overall value to accept this form of payment? I haven’t seen any MSRP values for crypto.

Personally I’d want to build in a higher price due to the added risk if I was a retailer. So would you pay more just to use your crypto?

 

[wind gypsy]

How will they make a killing? I guess do you sell your bitcoin values like a stock? So values go up and down? Also how are you taxed on gains made within bitcoin? Same as any other investment or if trading in other currencies. Uncle Sam has meddled with some of the bigger crypto exchanges and they release transaction history for individuals which could lead to them getting busted. Otherwise, its like someone reporting their income if they get paid in cash.. I know the taxman will want his cut. Just doesn’t seem logical to me that this isn’t being watched and tracked by the government even if indirectly. It's great.

Also if bitcoin is limited, what/why wouldn’t a dealer or store charge a 25%+ premium in overall value to accept this form of payment? I haven’t seen any MSRP values for crypto. They can do whatever they like, just like some online vendors add markup for credit card fees. They will just not get near as many sales.

Personally I’d want to build in a higher price due to the added risk if I was a retailer. So would you pay more just to use your crypto? I could see a few reasons why people would prefer to pay in crypto. To advance it's acceptance and usefulness, lower transaction feeds than credit cards, or because of tax avoidance reasons

Some responses above in red. I'm low on the totem pole of crypto understanding but I was lucky enough to pay for a Dall Sheep hunt with some of the gains I realized on crypto investments

 

[Rodéo]

How will they make a killing? I guess do you sell your bitcoin values like a stock? So values go up and down? Also how are you taxed on gains made within bitcoin? I know the taxman will want his cut. Just doesn’t seem logical to me that this isn’t being watched and tracked by the government even if indirectly.

Also if bitcoin is limited, what/why wouldn’t a dealer or store charge a 25%+ premium in overall value to accept this form of payment? I haven’t seen any MSRP values for crypto.

Personally I’d want to build in a higher price due to the added risk if I was a retailer. So would you pay more just to use your crypto?

If someone wishes to sell their bitcoin at a gain it's treated as a capital gain, therefore you would pay capital gains tax accordingly. I'm assuming the business owner who accepts crypto will make a killing because 1. business owners that have accepted btc thus far have grown exponentially in value with the price rise in btc, and 2. I am personally bullish on bitcoin and expect the price to go no where but up, it is as important an innovation as the internet, and people can own it.

In reference to the US gov, they are not in the business of stifling innovation in this case. Btc is a technology that has inherent value (price) as a store of value, transaction tool, and as a unique distributed ledger. The nations who adopt and integrate btc and other useful crypto currencies will be big winners in the long run. I think the feds get that.

Not sure what you mean by btc being limited in reference to the second part of your question, if you could elaborate maybe I could chime in better. Also not sure what you mean by msrp values for crypto. If you were to buy a product in crypto, that price would be exchanged at the market rate just like if you were buying something in a different currency. Example, current exchange rate for USD to BTC= roughly $11,945 (and booming right now I might add). Therefore, if you wanted to buy a $1000 binocular, you would pay roughly .083 btc.

Hope this helped. I can tell you're at least interested in crypto, which is good, but I urge you to stay away from reading about, getting informed by other cryptocurrencies other than bitcoin before you understand the tech and value of btc. If you want, pm me and I can send you some reading material, podcasts, youtube videos that explain these things concisely.

Rod

 

[tdhanses]

If someone wishes to sell their bitcoin at a gain it's treated as a capital gain, therefore you would pay capital gains tax accordingly. I'm assuming the business owner who accepts crypto will make a killing because 1. business owners that have accepted btc thus far have grown exponentially in value with the price rise in btc, and 2. I am personally bullish on bitcoin and expect the price to go no where but up, it is as important an innovation as the internet, and people can own it.

In reference to the US gov, they are not in the business of stifling innovation in this case. Btc is a technology that has inherent value (price) as a store of value, transaction tool, and as a unique distributed ledger. The nations who adopt and integrate btc and other useful crypto currencies will be big winners in the long run. I think the feds get that.

Not sure what you mean by btc being limited in reference to the second part of your question, if you could elaborate maybe I could chime in better. Also not sure what you mean by msrp values for crypto. If you were to buy a product in crypto, that price would be exchanged at the market rate just like if you were buying something in a different currency. Example, current exchange rate for USD to BTC= roughly $11,945 (and booming right now I might add). Therefore, if you wanted to buy a $1000 binocular, you would pay roughly .083 btc.

Hope this helped. I can tell you're at least interested in crypto, which is good, but I urge you to stay away from reading about, getting informed by other cryptocurrencies other than bitcoin before you understand the tech and value of btc. If you want, pm me and I can send you some reading material, podcasts, youtube videos that explain these things concisely.

Rod

Oh in your last post maybe I read it wrong, thought btc was limited to 21million units, that’s where the limited part came from.

Guess I need to research this more, sounds like nothing more then another investment option and not really a currency. Now I get some accept it as payment but that could be considered the same as giving a share of stock for goods. Really a trading market but within its own market.

A coworkers college age son invested about $5k in btc when it first started up, we all thought he was crazy but maybe he was on to something. I also remember when it’s value tanked early on and really stopped paying attention to it.

So why is the value of btc increasing? This is where I struggle, it produces nothing and is used only to pay for things that others are willing to accept it as form of trade.

 

[tdhanses]

Some responses above in red. I'm low on the totem pole of crypto understanding but I was lucky enough to pay for a Dall Sheep hunt with some of the gains I realized on crypto investments

Alright you guys have me interested enough to look into this further. It just seems so risky from the outside, kind of like that the one based out of Canada (forget the name) where the guy died and took the password to the entire database with him to the grave, think it held around $300 million in peoples funds.

 

[TreyPound]

Companies don't work with bitcoins because of Tax, the IRS will be unable to check them up. But i have personally sold and bought a few things online/in person with Bitcoin.

 

[Kootenay Hunter]

Alright you guys have me interested enough to look into this further. It just seems so risky from the outside, kind of like that the one based out of Canada (forget the name) where the guy allegedly died and took the password to the entire database with him to the grave, think it held around $300 million in peoples funds.

Fixed

To me, bitcoin is like buying a stock and then using that as currency. It fluctuates and it has limited ways to cash it in to cold hard cash. not sure as a company, the value and accepting them unless you feel like you're losing a lot of sales because of it. There's a risk that the moment you take that form of 'currency', unless oyu immediately cash out, you could lose value, or potentially gain it. I'm assuming that a btc must be bought by someone else in order to eventually cash out if there's a fixed amount in circulation.

The whole purpose of block chain is to record transactions.

 

[Ellensburg]

Alright you guys have me interested enough to look into this further. It just seems so risky from the outside, kind of like that the one based out of Canada (forget the name) where the guy died and took the password to the entire database with him to the grave, think it held around $300 million in peoples funds.

Risky - yep. As is any investment. Bitcoin can see a +/- 30% IN A DAY. Its more volatile than anything I've ever speculated / invested in.

The 21million thing - There will only ever ever 21million bitcoins. Those can be broken down in to much smaller units.

The best investing advice I've ever given to people interested in was to choose a $ amount - lets say $100 per month, and set up an auto buy - It will buy high, it will buy low, and average out. A casual investor shouldn't watch the charts daily because they are mind boggling.

 

[Axlrod]

Risky - yep. As is any investment. Bitcoin can see a +/- 30% IN A DAY. Its more volatile than anything I've ever speculated / invested in.

The 21million thing - There will only ever ever 21million bitcoins. Those can be broken down in to much smaller units.

The best investing advice I've ever given to people interested in was to choose a $ amount - lets say $100 per month, and set up an auto buy - It will buy high, it will buy low, and average out. A casual investor shouldn't watch the charts daily because they are mind boggling.

That investing advice is sound and is a lot like what Warren Buffet has said. He also said bitcoin is " probably Rat poison squared" and a "delusion".

 

[Rodéo]

Good advice from @Ellensburg. And buffett is good at doing what buffett does, I don't blame him for being bearish on btc. @Axlrod

 

[CatfishKev]

Well, im just confused. Not a thread to read with a mild buzz going.

 

[Carr5vols]

I'm not an expert by any means.

The best benefit for companies who use it is lower fees - The fees are 33-50% less than accepting credit cards. Companies are paid in USD.

When you ask what is it "Backed" by - well its backed by the technology that has kept a flawlessly running ledger for billions of transactions.

What is appealing to it, is that it is scarce and decentralized. No government can "shut it down" because no one owns the blockchain. As long as one computer in the world is still up to date, the transaction ledger is in tact.

The USD dollar is backed by nothing now days, other than the power of the United states. The federal reserve just keeps churning out paper that we deem valuable.

I see the value in gold because it is tangible and easy to liquidate. But gold is heavy and easily manipulated *crypto is easy to manipulate too*

Its just appealing as a libertarian to have a payment system that is untraceable and unregulated.

The fact that I can't even buy a spotting scope shows me that bitcoin is in its infancy in terms of mass adoption.

Cash is untraceable.

 

[Rodéo]

Cash is untraceable.

No, it's not. Cash has serial numbers that distinguish individual bills from others. Thus making laundering money a lucrative profession for those who can move cash around enough times through enough legitimate businesses to make it hard to trace, not 'untraceable'.

 

[Carr5vols]

Do you honestly think the average Joe/ or business that you buy something from is going to trace your money? I will take my chances with cash vs a computer that I know can be traced.