BitCoin office opening in Cabarete

windeguy

Platinum
Jul 10, 2004
38,616
3,848
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261808787_4787650151294634_3569377106949172833_n.jpg

The official opening of the 'Bitcoin & Crypto shop' in Cabarete is tomorrow from 8:30am until 6pm.

Our 4 main services:-
We will buy Crypto for you in exchange for cash
We will buy your cash in exchange for Crypto
We offer Crypto Fund management
We offer Consultancy for beginners to help you understand how to buy and sell Crypto
We look forward to meeting you in our office very soon.

 

windeguy

Platinum
Jul 10, 2004
38,616
3,848
113
I am not interested myself, but others might find that new business useful.
 

windeguy

Platinum
Jul 10, 2004
38,616
3,848
113
I shared this news with a friend of mine, a VERY smart individual, who retired from the use to Santiago, Chile and his immediate response was:

When salaried workers are paid in bitcoin, then it is real. When future contracts are settled now in bitcoin then it is real. But when you have to go cash--->bitcoin--->cash, it a speculative asset, probably going to crash after it is declared illegal.
 

jd_mine

Active member
Sep 24, 2003
134
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28
This office seems quite useless to me.
Anyone with access to the internet does not need this office. You can do it all yourself.
The only people this office might be of use to is the unbanked, people who have no bank account and credit cards.

In regards to declaring it illegal: good luck.
The beauty of BTC is governments can not do anything about it as long as there is internet.
The only thing they can do is make the fiat on and off ramps more difficult.
And yes, it is a speculative asset, more a store of value these days, but that same argument can be made for a lot of assets.
 
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windeguy

Platinum
Jul 10, 2004
38,616
3,848
113
This office seems quite useless to me.
Anyone with access to the internet does not need this office. You can do it all yourself.
The only people this office might be of use to is the unbanked, people who have no bank account and credit cards.

That is what I thought as well. I don't expect such an office to last very long. Other places in the world have Bitcoin ATMs. Why not the DR?
In regards to declaring it illegal: good luck.
The beauty of BTC is governments can not do anything about it as long as there is internet.
The only thing they can do is make the fiat on and off ramps more difficult.
And yes, it is a speculative asset, more a store of value these days, but that same argument can be made for a lot of assets.
I have no idea on how governments could interfere with Bitcoin. Time will tell on that. Seems difficult to stop, at best:

 

MariaRubia

Well-known member
Jun 25, 2019
982
1,117
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Am I right in thinking that a lot of drug-related transactions are handled through Bitcoin? I imagine if you were involved in that type of business, you'd probably prefer to convert to cash somewhere like this rather than having it deposited in a bank account. Just sayin...
 

malko

Campesino !! :)
Jan 12, 2013
5,013
662
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Am I right in thinking that a lot of drug-related transactions are handled through Bitcoin? I imagine if you were involved in that type of business, you'd probably prefer to convert to cash somewhere like this rather than having it deposited in a bank account. Just sayin...

Wrong. Bitcoin has a transaction ledger open for all to see. You cannot hide a transaction.

Want to do anonymous transactions ? Use Monero.
 
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jd_mine

Active member
Sep 24, 2003
134
33
28
Wrong. Bitcoin has a transaction ledger open for all to see. You cannot hide a transaction.

Want to do anonymous transactions ? Use Monero.
Exactly, for some reason no government seems to grasp BTC is completely transparent.
Every transaction is public on the blockchain.
Although there are ways around it by for example 'laundering' the BTC by hussling fragments of it through a multitude of addresses.
But if you want to use crypto for criminal means, it is way better to use privacy coins like Monero.
Still, 99% of illegal money is still done in cash and bank accounts in Panama and the like. You never hear governments complain about how the cash money they themselves print is used for illegal means like the drug trade.
Governments mostly complain about BTC because it is out of their control....
 
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HDR

Active member
Nov 21, 2012
395
60
28
Exactly, for some reason no government seems to grasp BTC is completely transparent.
Every transaction is public on the blockchain.
Although there are ways around it by for example 'laundering' the BTC by hussling fragments of it through a multitude of addresses.
But if you want to use crypto for criminal means, it is way better to use privacy coins like Monero.
Still, 99% of illegal money is still done in cash and bank accounts in Panama and the like. You never hear governments complain about how the cash money they themselves print is used for illegal means like the drug trade.
Governments mostly complain about BTC because it is out of their control....
It was not out of China's control... And India next? The electricity consumption for mining and transactions... and then one of the big talks in governments is the global warming (true or not), energy etc. I have a hard time seeing that they will not interfere at one point.
 

HDR

Active member
Nov 21, 2012
395
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28
But yeah I had BTC and Ethereum (via ETFs) bought BTC at 2,8k and sold at 9k... wish I would not have done that though :rolleyes:
 

jd_mine

Active member
Sep 24, 2003
134
33
28
It was not out of China's control... And India next? The electricity consumption for mining and transactions... and then one of the big talks in governments is the global warming (true or not), energy etc. I have a hard time seeing that they will not interfere at one point.
There is a difference between mining BTC, for which you need psychical data centers and just owning BTC.
The miners have left China and set up shop in the US, some now use green energy to mine the bitcoin.
I am not saying governments have no control (although of course more in totalitarian countries like China), but they cannot stop bitcoin itself.
What they can do is make it near impossible for you to convert your fiat money to BTC and vice versa. It is not much use owning BTC if you can't convert it to dollars/euros.
But there will always be a way to do that, just might be too cumbersome for the regular public.
 
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Big

Well-known member
Apr 24, 2019
3,071
2,074
113
I give it six months max before its turned into a bar or fried chicken joint, or maybe one of those massage joints that have 2 Haitian chicas sitting of front saying "massage for you" every single time you walk by.
 

HDR

Active member
Nov 21, 2012
395
60
28
I give it six months max before its turned into a bar or fried chicken joint, or maybe one of those massage joints that have 2 Haitian chicas sitting of front saying "massage for you" every single time you walk by.
They get a lot of positive responses to their "shop" on Facebook... Offering to trade BTC for cash and vice versa. Will be interesting to see what happens.
 
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HDR

Active member
Nov 21, 2012
395
60
28
There is a difference between mining BTC, for which you need psychical data centers and just owning BTC.
The miners have left China and set up shop in the US, some now use green energy to mine the bitcoin.
I am not saying governments have no control (although of course more in totalitarian countries like China), but they cannot stop bitcoin itself.
What they can do is make it near impossible for you to convert your fiat money to BTC and vice versa. It is not much use owning BTC if you can't convert it to dollars/euros.
But there will always be a way to do that, just might be too cumbersome for the regular public.
The bold That is a way to interfere. And yeah, then if you cannot buy things with the it, what is the inherent value? That said, I have very smart friends, one could call some of them geeks, that are invested and are bullish so...
 

chicagoan14

Newbie
Apr 2, 2019
58
36
18
That is what I thought as well. I don't expect such an office to last very long. Other places in the world have Bitcoin ATMs. Why not the DR?

I have no idea on how governments could interfere with Bitcoin. Time will tell on that. Seems difficult to stop, at best:

There was once a bitcoin atm at sambil.
 

DR_Guy

Bronze
Feb 17, 2010
852
51
48
Am I right in thinking that a lot of drug-related transactions are handled through Bitcoin? I imagine if you were involved in that type of business, you'd probably prefer to convert to cash somewhere like this rather than having it deposited in a bank account. Just sayin...
Most now using a privacy coin like Monero
 

DR_Guy

Bronze
Feb 17, 2010
852
51
48
I shared this news with a friend of mine, a VERY smart individual, who retired from the use to Santiago, Chile and his immediate response was:

When salaried workers are paid in bitcoin, then it is real. When future contracts are settled now in bitcoin then it is real. But when you have to go cash--->bitcoin--->cash, it a speculative asset, probably going to crash after it is declared illegal.
Smart doesnt make you wise.
 

DR_Guy

Bronze
Feb 17, 2010
852
51
48
This office seems quite useless to me.
Anyone with access to the internet does not need this office. You can do it all yourself.
The only people this office might be of use to is the unbanked, people who have no bank account and credit cards.

In regards to declaring it illegal: good luck.
The beauty of BTC is governments can not do anything about it as long as there is internet.
The only thing they can do is make the fiat on and off ramps more difficult.
And yes, it is a speculative asset, more a store of value these days, but that same argument can be made for a lot of assets.

Bitrefill is making it more easy.
I also have an unbanked debit card